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ANNUAL REPORT OF THE FEDERAL DEPOSIT INSURANCE CORPORATION FOR THE YEAR ENDING DECEMBER 31, 1936 LETTER OF TRANSMITTAL F ederal D e p o s it I n s u r a n c e C o r p o r a t io n , Washington, D. C., June 15, 1937. SIR: Pursuant to the provisions of subsection (r) of section 12B of the Federal Reserve Act, as amended, the Federal Deposit Insurance Corporation has the honor to submit its annual report. Respectfully, L eo T . C r o w ley, T he P r e s id e n t T he Speaker of the of the H Sen ate o u se of R e p r e s e n t a t iv e s Chairman. CONTENTS Introduction .......................................................................................................................... Page 3 PART ONE OPERATIONS OF THE CORPORATION DURING THE YEAR ENDING DECEMBER 31, 1936 Operations of the Corporation......................................................................................... Functions of the Federal Deposit Insurance Corporation..................................... Insolvent banks closed......................................................................................................... Liquidation of insured banks in receivership.............................................................. Bank examinations................................................................................................................. Banking practices.................................................................................................................. Admissions to and terminations of insurance.............................................................. Establishment of branches or additional offices......................................................... Changes in capital of banks............................................................................................... Assumption of uninsured deposits................................................................................... Reports from banks............................................................................................................... Regulations and rulings of the Corporation................................................................ Legislation affecting deposit insurance.......................................................................... Organization and staff.......................................................................................................... Financial statement of the Corporation........................................................................ 7 7 8 12 13 16 20 24 26 29 30 31 31 33 34 PART TW O DEPOSIT INSURANCE AND BANKING DEVELOPMENTS Summary of banking developments................................................................................ ........ 43 Commercial banking offices................................................................................................ ........ 43 Participation in deposit insurance........................................................................................... 45 Assets and liabilities of operating insured commercial banks............ .......................... 48 Appraisal of assets of operating insured commercial banks not members of the Federal Reserve System.................................................................................................. ........ 49 Capital of operating insured commercial banks......................................................... ........ 51 Earnings of operating insured commercial banks.............................................................. 55 Insured mutual savings banks.......................................................................................... ........ 60 PART THREE SPECIAL REPORTS Deposits of insured banks as of M ay 13, 1936........................................................... 65 PART FOUR LEGISLATION, REGULATIONS AND INSTRUCTIONS Deposit insurance legislation............................................................................................. Regulations and rulings of the Corporation................................................................ Forms and instructions........................................................................................................ 81 82 93 PART FIVE STATISTICS OF BANKS AND DEPOSIT INSURANCE Note regarding number and classification of operating banks and banking offices....................................................................................................................................... Number of banking offices.................................................................................................. Note regarding deposit figures and classification of banks by amount of deposits Deposits of banking offices................................................................................................. Assets and liabilities of operating banks....................................................................... Examiners* analysis of insured banks............................................................................ Capital investment of the Reconstruction Finance Corporation........................ Earnings of insured commercial banks.......................................................................... Suspensions, receiverships and mergers....................................................................... v 97 100 124 125 134 148 162 164 190 vi FEDERAL DEPOSIT INSURANCE CORPORATION LIST OF TABLES PART ONE OPERATIONS OF THE CORPORATION DURING THE YEAR ENDING DECEMBER 31, 1936 Page In solvent B 1. iq u id a t io n 3. B P 4. 6. to s t a b l is h m e n t 8. C hanges in and T of B e r m in a t io n s ranches C a p it a l 12 e c e iv e r s h ip : of 13 or A of B and 17 18 Insurance: d d it io n a l 21 22 O f f ic e s : 24 26 an ks: Applications for retirement or reduction of capital acted upon by the Federal Deposit Insurance Corporation during 1936, insured banks not members of the Federal Reserve System....................... O r g a n iz a t io n 27 St a f f : Officers and employees of the Federal Deposit Insurance Corpora tion, December 31, 1 9 3 6............................................................................ F in a n c ia l S t a t e m e n t 13. R Applications to establish or relocate branches acted upon by the Federal Deposit Insurance Corporation during 1936, insured banks not members of the Federal Reserve System....................... Number and deposits of operating insured commercial banks estab lishing branches or additional offices during 19 36.............................. 9. 12. in Applications for admission to insurance acted upon by the Federal Deposit Insurance Corporation during 1936, banks not members of the Federal Reserve System ................................................................ Banks admitted to insurance during 1936................................................ 7. 11. anks 9 r a c t ic e s : d m is s io n s 10. I nsured B Insured banks cited to supervisory authorities for unsafe or un sound banking practices or violations of law or regulations, 1936. Unsafe and unsound banking practices and violations of law and regulations for which 24 insured banks were cited to supervisory authorities during 1 9 36............................................................................... 5. E of Recovery on subrogated claims by Federal Deposit Insurance Corporation to December 31, 1 9 3 6 ........................................................ a n k in g A C lo sed : Deposits of insured banks placed in receivership, revised to Decem ber 31, 1936..................................................................................................... Applications for loans to facilitate mergers of insolvent banks acted upon by the Federal Deposit Insurance Corporation during 1935 and 1936............................................................................................................ 2. L anks of the 33 C o r p o r a t io n : Comparative balance sheet of the Federal Deposit Insurance Corp oration, December 31, 1936, and December 31, 1935.................... Analysis of surplus account and distribution of administrative expenses, Federal Deposit Insurance Corporation, calendar year 1 9 36.......................................................................................................... 36 37 PART TW O DEPOSIT INSURANCE AND BANKING DEVELOPMENTS C o m m e r c ia l 14. 15. 16. B a n k in g O f f ic e s : Centers with commercial banking offices and number of operating commercial banking offices, continental United States, December 31, 1936, grouped according to population of center and number of commercial banking offices in center.............................................. Number and type of operating commercial banking offices in the United States and possessions, December 31, 1935, and Decem ber 31, 1936..................................................................................................... Analysis of changes in number of offices of operating commercial banks in the United States and possessions during 1936.................. 43 44 45 LIST OF TABLES vii Page Participation in D eposit I n su r an ce : 17. Number of operating insured and noninsured commercial banking offices in the United States and possessions, December 31, 1935, and December 31, 1 9 36.............................................................................. 18. Changes during 1936 in deposits of operating insured commercial banks.................................................................................................................. 19. Admissions to and terminations of insurance during 1936................ A ssets 20. 21. L iabilities of Operating I nsured C ommercial B a n k s : Changes during 1936 in assets and liabilities of operating insured commercial banks..................................................................................... .... Major factors in the growth of deposits and assets of commercial banks, 1935 and 1936................................................................................... 23. C apital 24. 25. 26. 27. 28. 46 47 and A ppraisal 22. 46 of O perating I nsured C ommercial M embers of the F ederal R eserve Sy s t e m : of A ssets B anks 48 49 not Worthless and doubtful assets as of date of examination, 1933-1936, operating insured commercial banks not members of the Federal Reserve System grouped by amount of deposits....................... .. Substandard assets as of date of examination in 1936, operating insured commercial banks not members of the Federal Reserve System grouped by amount of deposits............................................... 50 50 O perating I nsured C ommercial B a n k s : Analysis of changes in total capital account of operating insured commercial banks during 19 36...................................................^ Percentage distribution of number and deposits of operating in sured commercial banks according to ratio of total capital ac count to total deposits, December 31, 1935....................................... 52 Ratio of sound capital to appraised value of assets, to deposits, and to total capital account, as of date of examination, 1933-1936, operating insured commercial banks not members of the Federal Reserve System.............................................................................................. 53 Percentage distribution of number of banks according to ratio of sound capital to deposits as of date of examination, 1933-1936, operating insured commercial banks not members of the Federal Reserve System.............................................................................................. 54 Percentage distribution of number and deposits of banks according to ratio of sound capital to deposits as of date of examination in 1936, operating insured commercial banks not members of the Federal Reserve System.............................................................................. 55 of E arnings of O perating I nsured C ommercial B a n k s : 29. Earnings, expenses, and disposition of profits of operating insured commercial banks, 1934, 1935 and 1936.............................................. 30. Earnings, expenses, and disposition of profits, and their relation to total assets and to total capital account of operating insured com mercial banks, 19 36...................................................................................... 31. Distribution of number and deposits of banks according to amount of net earnings or deficits per $100 of total assets, 1936, insured commercial banks not members of the Federal Reserve System operating throughout entire year............................................................ 32. Distribution of banks according to amount of net profits or losses per $100 of total assets, 1936, insured commercial banks not members of the Federal Reserve System operating throughout entire year...................................................; .................................................. 33. Distribution of number of banks according to rate of net earnings and profits, 1936, insured commercial banks not members of the Federal Reserve System operating throughout entire year............. 34. Interest received on loans and on securities and paid on time de posits during 1934, 1935 and 1936, insured commercial banks not members of the Federal Reserve System operating through out entire year................................................................................................. 59 I nsured M utual Savings B a n k s : 35. Earnings, expenses, and disposition of profits of the 56 mutual sav ings banks insured by the Federal Deposit Insurance Corpora tion, 1935 and 19 36........................................................................................ 60 56 56 57 58 59 viii FEDERAL DEPOSIT INSURANCE CORPORATION PART THREE SPEC IAL R E P O R T S D eposits of I nsured B anks as of M ay 13, 1936: 36. Accounts in insured commercial banks, M ay 13, 1936, banks grouped by amount of deposits............................................................... 37. Deposits of insured commercial banks, M ay 13, 1936, banks grouped by amount of deposits............................................................... 38. Accounts in insured commercial banks, M ay 13, 1936, banks grouped by class and by States............................................................... 39. Deposits of insured commercial banks, M ay 13, 1936, banks grouped by class and by States............................................................... 40. Accounts in insured commercial banks, M ay 13, 1936, grouped by type of deposit................................................................................................ 41. Deposits of insured commercial banks, M ay 13, 1936, grouped by type of deposit................................................................................................ 42. Percentage distribution of types of deposits of insured commercial banks, M ay 13,1936, banks grouped by amount of deposits......... 43. Ratio of demand and time deposits of individuals, partnerships, and corporations to total deposits of insured commercial banks, M ay 13,1936, banks grouped by class and by amount of deposits. 44. Percent of deposits of insured commercial banks protected by insurance, M ay 13, 1936, and October 1, 1934, banks grouped by amount of deposits....................................................................................... 45. Accounts in insured mutual savings banks, M ay 13, 1936, banks grouped by amount of deposits and by States.................................. 46. Deposits of insured mutual savings banks, M ay 13, 1936, banks grouped by amount of deposits and by States.................................. Page 66 67 68 69 70 71 73 74 75 76 77 P A R T FIVE S T A T IS T IC S OF B A N K S AN D D E P O SIT IN SU R A N C E N umber of B a n k in g O f f ic e s : 101. Number and classification of operating banks and banking offices, December 31, 1935, and December 31, 1 9 3 6..................................... 102. Analysis of changes in number and classification of banks and bank ing offices in the United States and possessions during 1936........... 103. Number of operating banking offices, December 31, 1936, insured and noninsured offices grouped by class of bank and type of office in each State and in the possessions.......................................... 104. Number of operating banking offices, December 31, 1936, insured and noninsured offices grouped by class of bank, type of office, and amount of deposits................................................. 105. Number of operating commercial banks, December 31, 1936, in sured and noninsured banks grouped by amount of deposits in each State and in the possessions........................................................... 106. Number of operating mutual savings banks, December 31, 1936, insured and noninsured banks grouped by amount of deposits in each State......................................................................................................... 107. Number of commercial banks operating more than one office and number of branches or additional offices operated, December 31, 1936, grouped according to character of branch system, loca tion of branches or additional offices, population of center in which located, and by States................................................................... 108. Number of operating banking offices of insured commercial banks, December 31, 1936, grouped by amount of deposits, type of off ice, and population of center in which located.................................... 109. Number of operating banking offices of insured commercial banks, December 31 ,1 9 3 6 , grouped according to number of commercial banking offices in center in which located, type of office, and population of center in which located.................................................. D eposits of B an k in g O ff ic es : 110. Average deposits of operating banks during 1936, insured and non insured banks grouped by class of bank, type of bank, and amount of deposits....................................................................................... 100 102 105 112 114 118 120 122 123 125 LIST OF TABLES ix Page 111. 112. 113. A ssets 114. 115. 116. 117. 118. 119. 120. Exam Average deposits of operating banks during 1936, insured and non insured banks grouped by class of bank in each State and in the possessions........................................................................................................ Average deposits of operating commercial banks during 1936, in sured and noninsured banks grouped by amount of deposits in each State and in the possessions............................................................ Deposits of operating mutual savings banks, December 31, 1936, insured and noninsured banks grouped by amount of deposits in each State......................................................................................................... and 122. 123. 124. 125. ia b il it ie s 127. O p e r a t in g B A n a l y s is of Insured B of the R 132 134 135 136 139 142 144 146 an ks: 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 148 150 152 156 160 : Capital investment of the Reconstruction Finance Corporation in operating insured commercial banks, December 31, 1936, by class of bank in each State and possession......................................... Reconstruction Finance Corporation capital disbursements and retirements during 1936, operating insured commercial banks not members of the Federal Reserve System, in each State and possession.......................................................................................................... 128 anks: Examiners' analysis of capital and liabilities of operating insured commercial banks not members of the Federal Reserve System, latest examination in 1936, 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 31,193 6, 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 1936, banks grouped by amount of deposits and by States................................................................................................................. Examiners’ analysis of assets, ratios, of operating insured com mercial banks not members of the Federal Reserve System, latest examination in 1936, banks grouped by amount of deposits and by States........................................................................................................... Summary of examiners' analysis of assets of operating insured commercial banks not members of the Federal Reserve System, examinations October 1, 1933, to December 31, 1936, banks grouped by amount of deposits and by States..................................... C a p it a l I n v e s t m e n t 126. of Summary of assets and liabilities of operating commercial banks in the United States and possessions, December 31, 1935, June 30, 1936, and December 31, 1936................................................................... Summary of assets and liabilities of operating mutual savings banks in the United States, December 31, 1935, June 30, 1936, and December 31, 1 9 3 6 .............................................................................. Assets and liabilities of operating insured commercial banks, call dates, June 30, 1934, to December 31, 1936....................................... Assets and liabilities of operating insured commercial banks not members of the Federal Reserve System, call dates, June 30, 1934, to December 31, 1 9 36...................................................................... Assets and liabilities of operating insured commercial banks not members of the Federal Reserve System, December 31, 1936, 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 31,1936, 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, 1936, banks grouped by amount of deposits......... in e r s ' 121. L 126 162 163 FEDERAL DEPOSIT INSURANCE CORPORATION X Page E a r n in g s 128. 129. 130. 131. 132. 133. 134. 135. 136. 137. 138. 139. 140. 141. 142. of I nsu red C o m m e r c ia l B an k s: Earnings, expenses, and disposition of profits of operating insured commercial banks, calendar years 1934,1935 and 1 9 3 6 ................... Earnings, expenses, and disposition of profits of operating insured commercial banks, calendar year 1936, by class of bank.................. Earnings, expenses, and disposition of profits of operating insured commercial banks not members of the Federal Reserve System, calendar years 1934, 1935 and 1936....................................................... Earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped by amount of deposits....................................................................................... Averages per bank of earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped by amount of deposits....................................................... Earnings, expenses, and disposition of profits, ratios, of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped by amount of deposits............................................................... Earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped according to population of center in which located......................... Earnings, expenses, and disposition of profits, ratios, of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped according to population of center in which located........... Earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped according to number of commercial banking offices in center in which located.................................................................................................. Earnings, expenses, and disposition of profits, ratios, of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped according to number of commercial banking offices in center in which located............................................................................... Earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped according to rate of net earnings on total assets.............................. Earnings, expenses, and disposition of profits, ratios, of insured commercial banks not members of the Federal Reserve System, calendar year 1936, banks operating throughout entire year grouped according to rate of net earnings on total assets................. N et current operating earnings of insured commercial banks not members of the Federal Reserve System, calendar year 1936, number of banks operating throughout entire year grouped according to rate of net earnings on total assets, amount of de posits, population of center in which located, and number of commercial banking offices in center in which located................... N et profits before dividends of insured commercial banks not mem bers of the Federal Reserve System, calendar year 1936, number of banks operating throughout entire year grouped according to rate of net profits on total assets, amount of deposits, population of center in which located, and number of commercial banking offices in center in which located............................................................ N et current operating earnings of insured commercial banks not members of the Federal Reserve System, calendar year 1936, number of banks operating throughout entire year grouped according to rate of net earnings and net profits on total assets, and by significant balance sheet ratios................................................. 164 165 166 168 170 172 174 176 178 180 182 184 186 187 188 LIST OP TABLES xi Page Su s p e n s io n s , R 143. 144. 145. 146. 147. 148. 149. 150. e c e iv e r s h ip s and M ergers: Number and deposits of banks suspending operations, 1934-1936, grouped by year, by class of bank, by amount of deposits, and by States.................................................................................................................. Number and deposits of banks suspending operations, 1936, grouped by class of bank, by amount of deposits, and by States. . Insured banks placed in receivership, 1936................................................ Assets of insured banks placed in receivership, 1934-1936, as shown by books of banks at dates of suspension............................................ Liabilities of insured banks placed in receivership, 1934-1936, as shown by books of banks at dates of suspension.............................. Deposits of insured banks placed in receivership, 1934-1936, re vised to December 31, 1 9 36...................................................................... Payments to depositors of insured banks placed in receivership, 1934-1936.......................................................................................................... Loans made to and assets purchased from banks by the Federal Deposit Insurance Corporation, August 22,1935 to December 31, 1 9 36..................................................................................................................... 190 192 193 194 196 198 200 202 CHART Federal Deposit Insurance Corporation............ 6 INTRODUCTION INTRODUCTION The Federal Deposit Insurance Corporation was created by the Bank ing Act of 1933, and the insurance of bank deposits under a temporary plan became effective January 1, 1934. A revised permanent plan of insurance embodied in the Banking Act of 1935 became effective on August 23 of that year. Previous reports of the Federal Deposit Insurance Corporation have covered the inauguration of deposit insurance, the transition from the temporary to the permanent plan, and the activities of the Corporation to the end of 1935. The present report covers the activities of the Corporation during 1936, the first full year of operation under the revised law, and banking developments affecting deposit insurance during that year. Part One is devoted to a discussion of the operations of the Corpora tion, the policies which have been followed, and the problems which are being encountered. Part Two covers developments in banking during 1936, primarily among insured banks not members of the Federal Reserve System. Part Three contains a special study of deposits of insured banks as of May 13, 1936. Part Four gives the text of legis lation affecting Federal insurance of deposits enacted by Congress during 1936, and of regulations, rulings and instructions issued by the Corporation during the year. Part Five consists of statistical tables relating to banking and deposit insurance. PART ONE OPERATIONS OF THE CORPORATION DURING THE YEAR ENDING DECEMBER 31, 1936 FEDERAL DEPOSIT INSURANCE CORPORATION O p e r a t io n s of the C o r p o r a t io n On December 31, 1936, the Federal Deposit Insurance Corporation was insuring deposits in 14,029 banks. The banks held total deposits of more than $50 billion to the credit of the accounts of more than 50 million depositors. The balances to the credit of these depositors, up to a maximum of $5,000 for each depositor in each bank, were pro tected by insurance. The total volume of deposits protected by in surance at the close of the year is estimated to exceed $21 billion. During 1936 the Corporation conducted approximately 7,900 examinations, held numerous informal conferences with bankers and banking officials and took formal official action in more than 1,200 cases involving the relation of deposit insurance and the deposit in surance law to insured banks. These activities are discussed in this part of the report. F u n c t io n s of th e F ederal D e p o s it I n s u r a n c e C o r p o r a t io n The activities of the Federal Deposit Insurance Corporation center upon three major functions: (1) payment of insured deposits in sus pended insured banks; (2) liquidation of insured banks placed in receivership; and (3) development and maintenance of a sound banking situation. The prompt payment of depositors in suspended insured banks and the efficient liquidation of these banks are important tasks, but the most vital responsibility placed by Congress upon the Corporation is the maintenance of a banking condition such that the public is adequately served and few failures occur. However, the respon sibility for maintaining a sound banking situation is shared with other Federal and State agencies, and the powers of the Corporation are limited. The powers of the Federal Deposit Insurance Corporation designed to aid in maintaining a sound banking situation are as follows: 1. To pass on applications for admission to insurance; 2. To pass on applications from insured State banks not members of the Federal Reserve System to open or relocate branches or to retire capital obligations; 3. To pass on proposals for the release of restricted deposits in insured banks, and on proposals for the assumption of deposit liabili ties of noninsured banks by insured banks, or of those of insured banks by noninsured banks; 7 8 FEDERAL DEPOSIT INSURANCE CORPORATION 4. To examine insured banks and to review reports of examination made by the Comptroller of the Currency and the Board of Governors of the Federal Reserve System; 5. To give notice existence of unsafe or law or regulations, by ance of a bank which or regulations; to other bank supervisory authorities of the unsound banking practices, or of violations of any insured bank, and to terminate the insur continues such practices or violations of law 6. Until July 1, 1938, to make loans to banks, purchase assets from banks, or guarantee against loss an insured bank which assumes the deposit liabilities of another insured bank, when such loan, pur chase or guarantee will reduce the estimated loss to the Corporation and will facilitate a merger or consolidation; 7. To require reports of condition from insured banks not members of the Federal Reserve System, and to require publication of such reports; and 8. To issue regulations necessary to the proper fulfillment of the Federal deposit insurance law. In so lven t B a n k s C losed Insured banks suspended. During 1936 forty-one insured banks suspended, of which one was a national bank and the others State banks not members of the Federal Reserve System. All of these banks, and also one bank which suspended on the last day of 1935, were placed in receivership during the year. The deposits of the 42 banks placed in receivership during the year amounted to approximately $11 million. Of these deposits, 74 per cent were protected by insurance (excluding insured portions of secured or preferred deposits), 10 percent were protected by pledge of security, preferment or offset, and 16 percent were protected only by general claims against the assets of the banks. Of the deposits pro tected by general claims nearly half were in banks reorganized after the Banking Holiday of 1933 and under the terms of reorganization were not subject to withdrawal by depositors. The law specifies that such restricted deposits are ineligible for insurance. Depositors in the 42 banks numbered 41,709 of whom 41,517, or 99.5 percent, were fully protected with regard to their unrestricted de posits by insurance, security, preferment or offset. Deposits paid by the Corporation. Insured deposits have been paid as rapidly as depositors have presented and proved their claims. By the close of the year the Corporation had paid $7 million, or 88 percent, of the insured deposits in the banks placed in receivership during the year. The unpaid insured deposits consisted of unproved claims, and accounts of depositors who had failed to file claims. Threefourths of the insured deposits remaining unpaid were in seven banks closed during the last quarter of the year. 9 INSOLVENT BANKS CLOSED Further payments amounting to $344,000 were also made during the year to depositors of insured banks placed in receivership during 1934 and 1935. In these banks the insured deposits still unpaid, chiefly because of failure of depositors to present their claims, amounted to 5 percent of the total insured deposits. The figures regarding deposits of insured banks placed in receiver ship are given in Table 1. T ab le 1. DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP REVISED TO DECEMBER 31, 1936 (Amounts in thousands of dollars) Total Paid by Dec. 31, 19361 Unpaid on Dec. 31, 1936 T o t a l— 42 b a n k s p la c e d in receiv ersh ip d u rin g 1936 . . . . 11,068 8,118 2,950 Insured (excluding secured and preferred portion s)........... Secured, preferred, and subject to offset................................ Uninsured, unsecured, not preferred, and not subject to offset........................................................................................... 8,178 1,055 7,237 721 941 334 1,835 160 1,675 11,044 9,338 1,706 7,033 1,864 6,713 1,699 320 165 2,147 926 1,221 T o t a l— 33 b a n k s p la c e d in receiv ersh ip d u rin g 1934 a n d 1935........................................................................................ Insured (excluding secured and preferred portions)........... Secured, preferred, and subject to offset................................ Uninsured, unsecured, not preferred, and not subject to offset................................................................................................ in clu d es payments made both b y the Federal Deposit Insurance Corporation and b y receivers. N O T E : More detailed figures will be found in Tables 148-49, pages 198-201. Deposit Insurance National Banks. New national banks without capital and called Deposit Insurance National Banks were organized to pay the depositors of the 24 insured banks placed in receivership during the operation of the temporary insurance plan. None of these banks has been capitalized. In only one case has a Deposit Insurance National Bank been organized to succeed an insured bank placed in receivership since the effective date of the Banking Act of 1935, when the organization of such banks was made optional with the Corporation. This bank, the Deposit Insurance National Bank of Bradford, Pennsylvania, was subsequently capitalized and chartered and on June 22, 1936, began business as the Citizens National Bank of Bradford, Pennsylvania. Insolvent banks merged with aid of loans or purchase of assets by the Federal Deposit Insurance Corporation. Until July 1,1938, the Federal Deposit Insurance Corporation is authorized to make loans secured by assets of insured banks provided: first, the loan will reduce the risk or avert a threatened loss to the Corpora tion; and second, the loan will facilitate a merger or consolidation of the borrowing bank with another insured bank. Under the same conditions the Corporation may purchase assets from insured banks, or guarantee one insured bank against potential loss from assuming 10 FEDERAL DEPOSIT INSURANCE CORPORATION the liabilities and taking over the assets of another insured bank. These powers enable the Corporation to eliminate insolvent banks, and banks with impaired capital which cannot be rehabilitated, with smaller loss to itself and less disturbance to the communities in which the banks are located than would be the case if the banks suspended. During 1936 the Corporation utilized these powers in the case of 27 insured banks, of which 2 were national banks, 1 was a State bank member of the Federal Reserve System, and 24 were State banks not members of the Federal Reserve System. The Corporation had previously (in the latter part of 1935) utilized these powers in the case of one bank not a member of the Federal Reserve System. In 15 of the 28 cases loans were extended, in 12 cases loans were made and assets also purchased, while in 1 case assets were purchased. The total amount of the loans and purchases in the 28 banks amounted to $9,593,000 of which $8,526,000 was in the form of loans and $1,067,000 in the form of purchase of assets. The estimated re coverable amount of these loans and purchases is $5,600,000 or 58 percent. The receipts in connection therewith to December 31, 1936, amounted to $2,164,000, which is about 39 percent of the estimated recoverable amount. Inasmuch as the loans are made to and the assets purchased from distressed banks to facilitate mergers which could not otherwise be consummated, the assets purchased and accepted as collateral against the loans are those unacceptable to the absorbing bank. As a con sequence the assets are of poor quality and more difficult to realize upon than are the bulk of those to be found in banks placed in re ceivership. The deposits of the 28 banks merged with the aid of loans or purchase of assets by the Corporation amounted to $21 million, of which nearly $16 million were insured and would have been paid by the Corporation had the banks been placed in receivership. The loss which it is estimated will be taken by the Corporation on the loans and assets purchased is about $4 million, or approximately one-fourth of the amount of the deposits protected by insurance. The loss is smaller than would have been incurred had the banks suspended and been placed in receivership. Of the 28 insolvent banks merged with the aid of loans or purchase of assets by the Corporation, 16 were merged with other operating insured banks and 4 were absorbed by new banks organized in the same communities. Of the remaining banks, 5 were consolidated under a single new charter in one case and 3 in another case. One of the banks, after assumption of its deposit liabilities by another bank, has continued in operation as a noninsured trust company but does not accept deposits. Insolvent insured banks merged with aid of loans from the Reconstruction Finance Corporation. In addition to the banks merged with the aid of loans from the Federal Deposit Insurance Corporation, three insured banks were absorbed by operating banks INSOLVENT BANKS CLOSED 11 with the aid of loans made by the Reconstruction Finance Corpora tion. In these cases the Federal Deposit Insurance Corporation had agreed to make loans in amounts sufficient to cover the difference between deposit liabilities of the absorbed banks and the assets acceptable to the absorbing banks, but the Reconstruction Finance Corporation held capital obligations of these banks, and preferred to extend loans sufficient to retire those obligations and cover the deficiency of assets acquired by the absorbing banks. Of the three banks, one was a national bank and the other two were State banks not members of the Federal Reserve System. Other mergers and liquidations of insolvent banks and of banks in a weakened condition. The practice of merging a bank in financial difficulties with an operating bank has long been cus tomary whenever such a merger could be arranged. During 1936 in addition to those merged with the aid of loans from the Federal Deposit Insurance Corporation and the Reconstruction Finance Corporation, 45 insured banks not members of the Federal Reserve System which were in financial difficulties were merged with operating banks, 15 were liquidated without being absorbed and without loss to depositors or to the Federal Deposit Insurance Corporation, and 6 were succeeded by newly organized banks. In a few cases involving absorptions some of the stockholders supplied in cash or by guarantee sufficient funds to meet the difference between the deposit liabilities of the absorbed bank and the assets acceptable to the absorbing bank. In most of the cases the absorbed or liquidated banks had sufficient acceptable assets to meet their deposit liabilities. The earnings of these banks, however, had been negligible for several years, prospects were poor, and continued operation would have dissipated the stockholders' remaining equities. The Federal Deposit Insurance Corporation has not compiled data regarding the number of national or State banks members of the Federal Reserve System which were insolvent or approaching in solvency and were merged with other banks members of the Federal Reserve System. In five cases in which such banks were absorbed or succeeded by insured banks not members of the Federal Reserve System the outgoing banks were in a weakened condition. Proposals for loans to insolvent banks disapproved or not consum m ated. In addition to those cases in which loans were made by this Corporation or by the Reconstruction Finance Cor poration, the Federal Deposit Insurance Corporation took action during the year regarding loans in the case of 15 insolvent banks. In about half of these cases applications for loans were declined, chiefly on the ground that the estimated losses to the Corporation would not be reduced by making the loans instead of by paying off the insured deposits if the banks were placed in receivership. The other cases were chiefly those in which the banks were unable or unwilling to meet the conditions required by the Corporation in the event a loan were made. 12 FEDERAL DEPOSIT INSURANCE CORPORATION A summary of the actions of the Corporation regarding loans to facilitate mergers of insolvent banks, and of the disposition of these banks, will be found in Table 2. Table 2. APPLICATIONS FOR L o a n s TO FACILITATE MERGERS OF INSOLVENT B a n k s A cted U po n 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 rp o r a t io n D u r in g 1935 a n d 1936 Disposition of bank Character of action by Federal Deposit Insurance Corporation Merged with exist Suspended ing or newly during organized 1936 banks Total In opera tion D ec. 31, 1936 T o t a l n u m b e r o f cases a cte d u p o n .............................. 46 31 4 11 In 1936................................................................................... In 19S5.................................................................................. U 2 29 2 A 11 Loans approved and disbursed........................................ Loans approved but not made (loans granted by Re construction Finance C orporation)............................ Loans approved but not disbursed by December 31, 1936.................................................................................. Loan approved, and approval rescinded...................... Commitment made for loans............................................ Applications received and declined................................. 28 28 3 3 2 2 3 1 1 6 3 1 3 8 N O T E : More detailed figures regarding loans disbursed and purchases made will be found in Table 150, pages 202-03. L iq u id a t io n of In su r e d B a n k s in R e c e iv e r s h ip The Corporation as receiver of insured banks. At the close of the year the Corporation was acting as receiver of 14 banks. Of these banks, 6 were national and 8 were State banks. Under the law the Corporation is receiver of suspended insured national banks. The Corporation acts as receiver of suspended insured State banks when appointed by the proper State authority. There are 30 States in which appointment of the Corporation as receiver is either mandatory or permissive. In 7 of these States the law existing at the inception of Federal insurance of deposits was sufficiently broad to permit of such appointment; and in the other 23 States the laws were amended. The powers and rights of the Corporation as receiver are governed by the laws obtaining in the various jurisdictions, and, in most cases, all transactions are submitted to the appropriate courts for final appro val. The provisions of the law relating to bank receiverships have not been clarified to meet the changed conditions occasioned by the Federal deposit insurance law. As a consequence, there has been some duplication of authority and action which is being eliminated as rapid ly as possible. As principal creditor by assignment the Corporation maintains close contact with the receivers of the suspended insured banks for which the Corporation has not been appointed receiver and assists in every way possible in prompt and efficient liquidation of these banks. LIQUIDATION OF INSURED BANKS IN RECEIVERSHIP 13 Recoveries from banks in receivership. Dividends received by the Corporation to December 31, 1936, from the liquidation of the 75 suspended insured banks in receivership amounted to $3.5 million. It is anticipated that further payments will be received from practically all banks except those which have paid the Corporation's claims in full, and that total recoveries of the Corporation on its subrogated claims will amount to $11.6 million, or 76 percent of the total of such claims. Up to the close of 1936, the Corporation had received prac tically 100 percent in dividends from five and no dividends from seven of the 33 insured banks placed in receivership during 1934 and 1935. More detailed figures are shown in Table 3. The small percentage of recoveries from the banks placed in receivership during 1936 reflects chiefly the short period of time in which the banks had been in li quidation. Liquidation of the banks in receivership has proceeded more rapidly than indicated by the figures of dividends received by the Corporation. A lag occurs between collections on the bank's assets made by the receiver and the payment of dividends by the receiver to the creditors of the bank, since the receiver accumulates the funds collected until they are sufficient to permit of a fairly substantial disbursement to the creditors. To do otherwise would tend to increase materially the costs of receivership and reduce the amount available for payment to credi tors. T able 3. RECOVERY ON SUBROGATED CLAIMS BY FEDERAL DEPOSIT INSURANCE C o r p o r a t io n to D ecem ber 31, 1936 Number of banks placed in receivership during— 1934-1935 1936 42 33 100 percent............................................................................................................... 75 to 99 percent....................................................................................................... 50 to 74 percent....................................................................................................... 0 3 3 5 4 8 25 to 49 percent....................................................................................................... 1 to 24 percent......................................................................................................... N o recovery.............................................................................................................. 3 5 28 4 5 7 A ll b a n k s ...................................................................................................................... B an ks s h o w in g recovery o f— Bank E x a m in a t io n s Policy and program. The Federal Deposit Insurance Corpora tion makes regular examinations of insured banks not members of the Federal Reserve System. The Corporation, with the consent of the Comptroller of the Currency, may conduct examinations of insured national banks, and, with the consent of the Board of Governors of the Federal Reserve System, may conduct examinations of State banks members of the Federal Reserve System. The Corporation also has authority to review the examinations of insured banks members of the Federal Reserve System made by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and any Federal Reserve bank. 14 FEDERAL DEPOSIT INSURANCE CORPORATION In 1933 and 1934 the Corporation was faced with the emergency tasks of examining for insurance more than 7,000 banks not members of the Federal Reserve System and of assisting in the rehabilitation of nearly 2,000 of those banks. In 1935 and 1936 the Corporation was able to devote attention to the development of its permanent examina tion procedures and policies and to the more effective discharge of the general responsibilities for the maintenance of a sound banking struc ture placed upon it by the deposit insurance law. In 1935 the policy was instituted of examining each insured bank not a member of the Federal Reserve System once each year, and of making such additional and special examinations as were required for the proper administra tion of the deposit insurance law. The policy was initiated during 1936 of reviewing examinations of insured national banks made by the Comptroller of the Currency and of insured State banks members of the Federal Reserve System made by the Board of Governors of the Federal Reserve System and the Federal Reserve banks. Number of examinations made. During the year the Corpora tion conducted 7,900 bank examinations. This number includes 7,600 regular examinations of insured banks not members of the Feder al Reserve System, more than 100 second examinations of such banks, more than 100 examinations and investigations of banks applying for admission to insurance and a number of special examinations in connection with the extension of loans to and purchase of assets from banks and for other purposes. The Corporation has made no exam inations of national banks or of State banks members of the Federal Reserve System except in special cases such as national banks con templating conversion into insured State banks not members of the Federal Reserve System, State banks contemplating withdrawal from the Federal Reserve System and applying for insurance as banks not members of the Federal Reserve System, or in connection with the extension of loans and purchase of assets. Examination procedure. Few changes were made in examina tion procedure during the year. The form of report of examination, and the form used in summarizing the results of each examination, were revised. The policy of holding examiners’ conferences, initiated in 1935, was continued in 1936. Selected examiners engaged in consultations with officers and directors of banks in difficulties. The Corporation has continued its policy of selecting examiners and assistant examiners on the basis of merit. Applicants for ap pointment as assistant examiners are given examinations to determine their fitness for the positions sought. Candidates for appointment to the position of examiner are selected from those who have demon strated exceptional ability in the field, the selections being made almost entirely from the staff of the Corporation. All candidates for the position of examiner are required to pass a written examination before becoming eligible for appointment. Purposes of bank examination. The bank examination is the chief mechanism used in ascertaining the condition of a bank. In BANK EXAMINATIONS 15 formation derived from examinations forms the basis for most of the decisions of the Corporation with respect to individual banks. The most important purposes of bank examinations are: (1) to de termine through appraisal of assets the net worth or sound capital of a bank and the protection afforded depositors or other creditors thereby; (2) to determine the quality of the assets of the bank, particularly the amount of substandard assets; (3) to ascertain the existence of practices which are likely to lead to financial difficulties or are otherwise unsafe or unsound; (4) to appraise the calibre of the bank's management; and (5) to ascertain the existence of irregularities and violations of law. Appraisal of the bank's assets is a major task of an examination. The examiner ascertains the value of the bank's assets and classifies them as to quality. Undesirable or hazardous assets are listed and discussed with the bank's officers and directors. Worthless and doubtful assets are deducted from, and the determinable sound bank ing value of assets not shown on the books added to, both the assets and the capital account in order to ascertain the net or true asset position and the net worth or sound capital of the bank respectively. The examiners of the Corporation endeavor to induce bankers to carry assets on their books at sound values and to charge off losses as they occur. Such a procedure will result in a published statement of condition which will present to the public a more accurate picture of the value of the assets behind the bank's liabilities. It impresses upon the bankers concerned the realization of the true net worth of their investment and of the extent to which economic difficulties and bad judgment have resulted in losses, and prevents weakening of the bank's capital by payment of excessive dividends. The Corporation re cognizes that a reasonable return on investment in bank capital is essential for the attraction of adequate capital, but it also insists that the maintenance of an adequate capital cushion is essential for the safety of depositors and that that safety must not be sacrificed for the sake of excessive or unearned dividends. Action taken by the Corporation with regard to banks with inadequate capital is discussed on pages 27 to 29. Practices deemed by the Corporation to be unsound are called to the attention of the officers and directors of the bank by the examiner and an effort is made to secure their correction. If the practices per sist the examiner or his supervisor discusses the matter informally with the proper supervisory authority to obtain the cooperation of that authority in correcting the practices. Only when informal efforts are unsuccessful is formal action taken by the Corporation to secure correction, or, failing in that, to terminate the insurance of the bank. In most cases personal and informal discussion has resulted in cor rection or elimination of the criticized practices. The Corporation has been compelled to take formal action in only a few cases. The formal actions of the Corporation with regard to cases of unsafe and unsound practices are discussed in detail in the next section. 16 FEDERAL DEPOSIT INSURANCE CORPORATION The Corporation recognizes that the selection of managerial officials is a prime function of the owners of banks. However, in cases where the management is of such a character as to subject depositors and this Corporation to undue risk, it is the duty of bank examiners to call the situation to the attention of the directors and to attempt to secure the appointment of more competent officials. The Corpora tion is directing its efforts toward securing good management for all insured banks. Fraud or defalcation on the part of bankers is responsible for a relatively large proportion of bank failures during periods of recovery and prosperity. It is also during such periods that many of the de falcations are begun which come to light later in times of strain. While the Corporation in making an examination does not audit the affairs of a bank unless irregularities are suspected, the examination does occa sionally uncover defalcations. The detection of defalcations and other irregularities is useful, not only as a protection to depositors and this Corporation from possible ultimate loss, but also as a service to bank stockholders, particularly in the case of small banks unable to provide adequate safeguards in the handling of cash and securities. The value of this aspect of examinations is greater than is indicated by the ir regularities actually discovered, since a knowledge that the examina tions are made undoubtedly inhibits many potential defaulters. Violations of law, regulations, orders or rulings are called to the attention of officers and directors of the bank and to the supervisory or regulatory authorities responsible for their enforcement. B a n k in g P r a c t ic e s Action on unsafe and unsound practices and violations of law or regulations. The Federal Deposit Insurance Corporation is authorized to terminate the insured status of any bank which con tinues to engage in unsafe or unsound practices or violations of law or regulations. The procedure followed in these cases, as specified in the deposit insurance law and as developed in practice, is as follows: (1) the proper bank supervisory authority (Comptroller of the Cur rency in the case of a national bank, or of any other bank in the District of Columbia, the State banking authority in the case of a State bank, or the Board of Governors of the Federal Reserve System in the case of a State bank member of that system) is notified of the existence of such practices or violations; (2) the bank is allowed 120 days, or such shorter period as may be specified by the appropriate supervisory authority, in which to correct the practices or violations in question; (3) after the close of the period specified the bank is re examined to determine the extent to which the practices or violations have been corrected; (4) if the practices or violations have not been corrected the bank is notified of the intention of the Corporation to terminate its insured status after 30 or more days and a time and place for a hearing is designated; (5) a hearing is held by the Board of Direc tors of the Corporation, or by a designated representative, at which BANKING PRACTICES 17 the bank may appear, to consider the evidence; and (6) if the evidence shows that the practices or violations exist and are continuing, an order is issued terminating the insured status of the bank. During 1936 the Corporation notified the appropriate bank super visory authorities of the continuance of unsafe or unsound practices or of violations of law or regulations in the case of 24 insured banks. In three cases the practices or violations had been corrected by the close of the year. In three other cases the banks had been notified of the intention of the Corporation to terminate their insured status and dates had been set for hearings. In eight cases the 120-day waiting period had expired and further action by the Corporation was pending. In five cases the 120-day waiting period had not expired, and in five other cases the banks had suspended or had been absorbed by other banks. Up to the close of 1936, the Corporation issued no order terminating the insurance of a bank by reason of the existence of unsafe or unsound practices or of violations of law or regulations. Further details regarding these cases will be found in Table 4. T ab le 4. INSURED BANKS ClTED TO SUPERVISORY AUTHORITIES FOR UNSAFE OR U n s o u n d B a n k in g P r a c t ic e s or V io l a t io n s o f L a w or R e g u l a t io n s , 1936 Number of cases T o t a l c a s e s ............................................................................................................................................ 24 S ta tu s o n D e c e m b e r 31, 1936: Correction m ade............................................................................................................................... Bank closed........................................................................................................................................ Bank absorbed by another b an k.................................................................................................. 120-day correction period expired: Bank notified of intention to terminate its insured status and date set for hearing. . Action awaiting results of reexamination............................................................................... Action deferred because of change of bank management and partial correction......... Action otherwise deferred........................................................................................................... 120-day correction period not yet expired................................................................................. 3 4 1 3 3 3 2 5 Character of unsafe and unsound practices and violations of law or regulations leading to Corporation action. Most of the banks cited for unsafe or unsound practices or violations of law or regulations have been engaged not merely in one but in many such practices and violations. In practically all such cases the statements sent to bank supervisory authorities have enumerated various general criticisms of managerial policy, such as “ poor credit and collection policy,, in addition to specific unsound practices or violations of law. The most common types of unsafe and unsound practices specified in notices to supervisory authorities were as follows: (a) operation with inadequate capital; (b) excessive extension of credit to officers or di rectors; (c) other unduly hazardous or illegal extensions of credit; (d) holding of excessive volume of hazardous assets; (e) inadequate credit information and absence of financial statements of borrowers; (f) carrying of losses among assets; (g) operation with dishonest, incom petent or careless management. 18 FEDERAL DEPOSIT INSURANCE CORPORATION T a b le 5. L aw U and nsafe R and U nsou nd e g u l a t io n s to for W Su p e r v is o r y A B a n k in g P r a c t ic e s h ic h 24 I n su r e d B u t h o r it ie s D u r in g and anks V io l a t io n s w ere C of it e d 1936 Number of banks cited C a p ita l: Operation without capital or when insolvent.............................................................................. Operation with impaired capital..................................................................................................... Unauthorized reduction of capital.................................................................................................. C h a ra cter o f loa n s a n d in v e stm e n ts : Lax loan, or loan and investment, policies................................................................................... Excessive credit to officers or directors......................................................................................... Excessive credit to other favored borrowers................................................................................ Unwarranted credit extension to persons on whom losses had previously been sustained or on lines previously criticized by examiners........................................................................ Credit in excess of good banking practices................................................................................... Excessive credit extension through overdrafts............................................................................ Unwarranted increase in loans and discounts.............................................................................. Purchase of or loans upon speculative securities........................................................................ Abnormal volume of substandard loans or securities................................................................ Abnormal volume of non-income-producing loans...................................................................... Abnormal volume of real estate or real estate loans likely to be defaulted......................... Inadequate collateral for loans........................................................................................................ C o lle c tio n p o lic y : Lax collection p olicy........................................................................................................................... Abnormal volume of past-due loans............................................................................................... Failure to give necessary attention to loans of questionable value to prevent them from developing into losses.................................................................................................................... Failure to reduce excessive lines...................................................................................................... Failure to reduce excessive credit to officers................................................................................ Failure to renew loans properly...................................................................................................... C red it r e c o rd s: Inadequate credit information and absence of financial statements of borrowers............... Failure to secure up-to-date information before renewing loans............................................ Inadequate evidence supporting acquisition of real estate....................................................... Failure to record mortgages or deeds on real estate.................................................................. C h a ra cte r o f m a n a g e m e n t: Failure of directors to care properly for interests of ban k....................................................... Failure of cashier or managing officers to care properly for interests of ban k .................... Failure of directors to attend meetings of board regularly...................................................... Failure of officers to call annual meetings of stockholders and to cause election of legally constituted board of directors.................................................................................................... Continued employment of incompetent cashier........................................................................... Failure of cashier to obey board of directors............................................................................... Attem pt to deceive bank examiners............................................................................................... Disregard of recommendations of examiners............................................................................... Violation of bank’s by-law s........................................................................................................ Dishonest replies to questionnaires from Federal Deposit Insurance Corporation............ Withdrawal of cash or use of bank funds by officers................................................................. B o o k k e e p in g a n d g en era l r e c o r d s : Inclusion of losses among assets...................................................................................................... Replacement in assets of bank of charged off losses.................................................................. Inadequate records, or records not up-to-date............................................................................ Failure to credit interest paym ents................................................................................................ Failure properly to record renewal of loans in minutes of meeting of board of directors. . M is ce lla n e o u s p o lic ie s : Continuous borrowing by ban k ....................................................................................................... Carrying of an unwarranted amount of public funds on deposit in proportion to quick assets.................................................................................................................................................. Inadequate surety coverage.............................................................................................................. Im proper disbursements for salaries or fees................................................................................. Im proper disbursements for dividends........................................................................................... Im proper transactions in earnings and reserve a ccou nts.......................................................... W aiving and rebating of interest on loa n s................................................................................... Unauthorized payment of dividends on stock to certain stockholders, disguised as salaries 4 13 1 17 10 2 3 2 5 1 3 11 6 4 4 13 9 2 1 1 4 15 1 2 3 11 6 1 1 1 1 3 7 2 2 3 11 2 6 1 1 2 2 4 3 1 1 1 1 V io la tio n s o f la w a n d r e g u la tio n s : Making loans when capital and reserves are im paired............................................................. 1 Credit extension in excess of legal lim it........................................................................................ 13 Loans on real estate not com plying with State la w ................................................................... 1 Failure to maintain legally required reserves.............................................................................. ................... 1 Failure of directors to make examination of bank as required by State la w ..................... 2 Failure to bond officers as required by la w .................................................................................. ...................1 V iolation of regulation of Federal Deposit Insurance Corporation regarding payment of interest............................................................................................................................................... 3 BANKING PRACTICES 19 A more detailed list of the unsafe and unsound practices and viola tions of law or regulations for which banks were reported to super visory authorities, will be found in Table 5. Unsound practices with regard to purchase and sale of se curities. The Corporation has been viewing with concern the pre valence of speculative practices by banks in handling their investments. Over the past two or three years many banks to an increasing extent have been buying securities with a view to obtaining profits from a rise in the prices of those securities, rather than with a view to ob taining reasonable earnings over a period of time. When a bank buys securities with the primary intention of selling them again at higher prices that bank is speculating. Dealing in high grade securi ties does not alter the essential speculative nature of the transaction. Banks should be managed as institutions of loan and investment rather than as institutions of speculation. Securities should be bought not for trading purpose but for sound investment. Purchases should be made in the light of the bank's requirements. A proper distribution of types and maturities should be maintained so as to keep the bank's portfolio turning over in such a way as to reduce to a minimum the possible necessity of liquidation at depressed prices. The banks constitute one of the most important groups of investors in the bond market. As a group they cannot get in and out of the investment market without completely disrupting that market. As a consequence they cannot speculate in securities without undermining the soundness of the financial structure of the entire country. Specu lation by banks in securities leads to recurrent waves of buying and selling which disrupt the price structure, and interfere with the flota tion of capital issues essential to the maintenance of a growing industrial economy. Over the past few years some banks have been using profits secured from speculation in securities to pay dividends and to retire preferred stock without making adequate provision for possible future deprecia tion in the securities purchased by them at high levels of prices. So long as banks speculate in securities they can expect at some time to incur losses. The Corporation insists that insured banks should make provision for any depreciation or losses that may occur. To fail to make such provision is to engage in an unsound banking practice and to continue such a practice may constitute grounds for the termination of the insurance of an insured bank. Accumulation by banks of substandard assets. Examinations of insured banks not members of the Federal Reserve System during 1936 revealed that of their holdings of securities other than those issued by or fully guaranteed by the United States Government approximately 25 percent were of substandard quality, and that of their loans approximately 21 percent were substandard.1 The volume ^Substandard securities include the appraised values of bonds below the fourth high rating by a recognized service, or its equivalent, of stocks, of defaulted securities, and of other bonds not rated but considered by examiners to be hazardous. Substandard loans are those which are considered to be hazardous and are undesirable for a bank to hold; in an examination they carry the technical designation “ Slow.” 20 FEDERAL DEPOSIT INSURANCE CORPORATION of both substandard securities and substandard loans and their pro portion to total loans and total securities were smaller in 1936 than in 1935. Banks with deposits of less than $500,000, however, increased their holdings of substandard securities. The large banks, parti cularly those in the important financial centers, reduced their holdings of substandard securities. The increase in the holdings of substandard securities by the small banks reflected in part increases in market value, in part purchases for the purpose of obtaining high yields and market profits, and in part lack of proper knowledge or advice regarding good bond investments. Sound banking practice calls for the purchase of only high grade securities which offer a minimum risk of default. In the past, investment in substandard securities has been an important factor in failure of banks. One of the major tasks of the Corporation is to discourage the ac cumulation by banks of hazardous assets. The Corporation does not exercise and does not wish to exercise detailed control over the assets of banks. It is concerned only with the maintenance of reasonable standards of soundness. It endeavors to secure adherence to those few simple rules regarding the purchase of securities, the making of loans, investment in bank buildings and equipment, and holdings of real estate, which have always had the support of most bankers. Outstanding loans of a hazardous nature should be collected at the earliest opportunity and every effort should be made to avoid such loans in the future. Banks should buy only high grade securities. Investment in bank buildings and equipment should be at the mini mum compatible with efficient bank operations. During the past several years many of the banks, through foreclosure, have acquired considerable volumes of real estate which, due to the demoralized state of the real estate markets, it was not expedient to dispose of immediately. Sound banking practice requires the disposal of such real estate as active markets develop. Banks should not speculate in real estate any more than in securities or other assets. A d m is s io n s to a n d T e r m in a t io n s of Insurance Applications approved and rejected. During 1936 approximate ly 133 formal applications were received from State banks not mem bers of the Federal Reserve System for admission to insurance and 58 such applications were pending at the beginning of the year. Of these 191 applications 124 were approved and 42 were disapproved. The remainder had been withdrawn or were pending at the close of the year. Only 106 of the banks approved for insurance were actually admitted during 1936. The remainder had not opened for business or had not met the conditions of approval by the close of the year. Table 6 shows the number of applications for insurance acted upon by the Corporation, the disposition made of those applications, the character of the institutions involved and the status as of the close of the year of the institutions whose applications were rejected. ADMISSIONS TO AND TERMINATIONS OF INSURANCE 21 Autom atic admissions to insurance. Banks in the continental United States granted national charters and authorized to open for business by the Comptroller of the Currency, State banks ad mitted to membership in the Federal Reserve System, and national banks in the possessions applying for insurance and certified by the Comptroller of the Currency as to ability to qualify for insurance, are automatically admitted. Applications for national bank charters and applications of noninsured banks for admission to Federal Re serve membership, however, are referred to the Federal Deposit Insurance Corporation for an opinion as to whether the banks should be admitted to insurance. Except for certain types of cases of application of noninsured banks for membership in the Federal Re serve System, the opinion rendered by the Corporation is advisory only and does not control the issuance of national charters or the admission of noninsured banks to membership in the Federal Reserve System. The Corporation believes that no bank should be permitted to become insured without its approval. T ab le 6. APPLICATIONS FOR ADMISSION TO INSURANCE ACTED UPON BY F e d e r a l D ep o s it I n s u r a n c e C o r p o r a t io n D u r in g 1936 THE BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM Insured banks Banks reorganizing Banks under new operating but opened, or opening charters or not insured contemplated withdrawing Jan. 1, during from F. R. 19361 1936 System Total 166 68 51 47 Approved: Insurance effective in 1936.......................... Insurance not effective in 1936................... Plans abandoned and approval rescinded. 106 16 2 42 7 1 27 4 37 5 1 Disapproved: Banks continued in operation, or opened or reorganized, without insurance......... Banks closed, or plans of organization or reorganization abandoned or delayed. . . 25 17 6 2 17 1 14 2 T o t a l a p p lica tio n s a cte d u p o n ...................... in clu d es proposed successors to operating noninsured banks and proposed reorganizations of restricted banks. During the year the 19 banks which received national charters from the Comptroller of the Currency, the 5 noninsured State banks which were admitted to membership in the Federal Reserve System, and the 1 applicant national bank in the possessions, were automatical ly admitted to insurance. Of these banks 14 were successors to other insured banks. Number and classification of banks admitted to insurance. The total number of banks admitted to insurance during 1936 was 129, excluding 6 banks withdrawing from Federal Reserve membership but continuing their insurance. Of these approximately one-third were successors to other insured banks, one-third banks in operation but not insured at the beginning of the year, and nearly one-third banks beginning operations during the year. Of the 36 which opened 22 FEDERAL DEPOSIT INSURANCE CORPORATION for business during the year and were admitted to insurance, 4 were successors to or reopenings of closed banks, and 32 were new banks without ascertainable predecessors. Table 7 summarizes the character and class of banks admitted to insurance during 1936. Further details are given in Table 102, pages 102-04. Table 7. B a n k s ADMITTED TO INSURANCE DURING 1936 Members Federal Reserve N ot members System Federal Re serve System National State Total T o t a l n u m b e r o f a d m is s io n s .......................... 135 19 5 Jill Banks beginning operations during 1936: New banks without predecessors............... Reopenings of or successors to closed banks 32 4 6 1 25 4 2 34 Banks operating but not insured at beginning of year: Regularly operating under general banking laws and admitted to insurance without reorganization............................................. Operating under restrictions and re organized under old charters at time of admission to insurance.............................. Private banks incorporated and other banks reorganized under new charters at time of admission to insurance2 ............. Trust com pany not doing a banking business Banks succeeding other insured banks......... Banks withdrawing from Federal Reserve System and readmitted as banks not members of that System .............................. 36 5 5 1 4 1 1 46 12 32 5 6 2 6 in clu d es 4 banks approved for admission to insurance in 1935, but with insurance not effective until 1936, and 1 national bank in the Virgin Islands admitted to insurance upon certification of the Comptroller of the Currency. in clu d es 1 bank previously operating under restrictions. Policy governing admission of banks to insurance. The law requires that in considering the application of a bank for admission to insurance the Corporation shall take into account the following factors: the financial history and condition of the bank, the adequacy of its capital structure, its future earnings prospects, the general character of its management, the convenience and needs of the com munity to be served by the bank, and whether or not its corporate powers are consistent with the purposes of the deposit insurance law. The Corporation is opposed to the establishment of any banking office, whether a bank or a branch, in a community already ade quately served or in a community which cannot support the type of banking facility contemplated. Many difficult problems, however, are encountered in determining when banking facilities are adequate without being excessive. Modern transportation and communication methods and changing financial practices have reduced the number of banking offices needed for adequate service to the public in comparison with the number needed two or three decades ago. Depositors are far more numerous and make more frequent visits to banking offices than do borrowers. The provision of adequate facili ADMISSIONS TO AND TERMINATIONS OF INSURANCE 23 ties to depositors requires the location of banking offices within con venient distances, so that depositors may cash checks and make deposits without undue expense and loss of time. Adequate banking facilities for borrowers requires access to an institution able to appraise risks and to give accommodations adjusted in amount and time of repayment to the business of the borrower; the time involved in reach ing a bank is of less importance to borrowers than to depositors. In many cases the Corporation has found that although deposit facilities are needed, the opportunities for lending and investing funds are not sufficient to assure enough earnings to justify the organization of a bank. The mere promise of profitable operations during prosperous times is not sufficient ground for the admission of banks to insurance. Where banking facilities already exist and additional capital can be profitably employed the Corporation seeks to have that capital put into existing institutions in order to strengthen them. The burden of proof must rest with the applicants to demonstrate that a pro posed institution is essential to a community. So long as banking authorities, however, are willing to charter banks irrespective of their ability to qualify for insurance, the influence of the Corporation in preventing the establishment of excessive facilities or uneconomic units is limited. The development of excessive credit facilities through the chartering either of banks or of other types of special credit institutions tends to undermine the soundness of the financial structure of the country. The existence of excessive facilities makes it difficult for the institu tions to operate profitably and leads to development of unsound practices. To an increasing extent banks are being subjected to the competition of other types of institutions or agencies organized for the purpose of holding the savings of the country or to fill special types of credit needs. These specialized institutions are expanding rapidly in number and in the scope of their operations. The Corporation does not oppose the creation of needed specialized credit agencies which may compete with banks. The Corporation believes that if the present banking system is to continue to operate successfully it must do so on a competitive basis, giving as good service at as low cost as other institutions or agencies. Our entire credit system, however, is so bound up with the public welfare that supervision of the different types of institutions must be coordinated. In the State jurisdictions, chartering and supervisory powers over the different types of deposit, savings, loan and invest ment agencies should be concentrated in a single authority and, insofar as possible, uniform standards developed. In the Federal establish ment, greater coordination than has hitherto obtained is essential among the different agencies which charter and supervise deposit, savings, loan, investment and other credit institutions; and a closer cooperation with State authorities, and a better understanding of their problems, must be developed. 24 FEDERAL DEPOSIT INSURANCE CORPORATION Terminations of insurance. During the year 235 insured banks, excluding those succeeded by other insured banks, were closed on account of suspension, absorption, consolidation, or voluntary li quidation, and one bank withdrew from Federal Reserve membership without continuance of insurance. No banks were expelled from insurance by the Corporation. E s t a b l is h m e n t o f B ranches or A d d it io n a l O f f ic e s Applications approved by the Corporation. During 1936 the Federal Deposit Insurance Corporation approved 91 applications from banks not members of the Federal Reserve System to establish or to relocate branches or additional offices. Eight applications were disapproved. Approval of the Corporation is not required for the discontinuance of a branch or additional office. Slightly over one-half of the applications acted upon were for the establishment of new branches or offices, that is, branches or offices in places where no banking offices previously existed or which increased the number of banking offices in the places in which they were to be located. The other applications dealt with conversions of absorbed banks into branches or additional offices, retention of additional offices of absorbed banks, conversion of main offices into branches, and the relocation of branches or additional offices. Further details regarding these applications are given in Table 8. Table 8. APPLICATIONS TO ESTABLISH by the Federal D e p o s it OR R ELO CATE BRANCH ES Insurance C o r p o r a t io n D u r in g ACTE D U PO N 1936 INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM Approved Opened N ot Plan to Dis or re opened or operate approved located relocated branch by Dec. 31, by Dec. 31, abandoned2 19361 1936 Total T o t a l a p p lica tio n s a p p roved o r d is a p p rov ed ......................................................... T o esta b lish n ew b r a n c h e s .................... T o rep la ce u n it b an k s w ith b ra n ch e s — t o t a l ............................................................. T o convert absorbed insured bank into branch...................................................... T o convert absorbed noninsured bank into branch ............................................. T o replace suspended insured bank. . . . T o c o n tin u e o p e ra tio n o r ch a n g e lo c a tio n o f bra n ch es in o p e ra tio n — total T o retain branches in operation at time of admission to insurance.................... T o retain branches previously operated by absorbed or succeeded insured banks. .................................. T o change location of branches 99 68 19 4 8 54 34 10 2 8 27 20 5 2 24 17 5 2 1 2 1 2 18 14 6 6 7 5 6 2 4 1 3 in clu d es several branches opened and operated for various periods of time prior to approval by the Federal Deposit Insurance Corporation; includes also 1 branch disapproved by the Federal De posit Insurance Corporation in 1935 but approved upon reconsideration in 1936. 2In 3 of these cases the approval of the Federal Deposit Insurance Corporation was rescinded; in the other case the branch was operated for about two weeks and discontinued. ESTABLISHMENT OF BRANCHES OR ADDITIONAL OFFICES 25 The number of applications approved for the establishment or re location of branches or additional offices differs from the number actually established or relocated, due to the fact that in a number of cases the offices approved had not been opened by the end of the year, and in a few cases had been approved in 1935 or had been opened in 1935 prior to approval by the Corporation. Other offices opened. Banks which are members of the Federal Reserve System are not required to obtain the approval of the Federal Deposit Insurance Corporation to open or relocate branches or ad ditional offices. These banks opened nearly one hundred offices dur ing the year, of which about two-fifths were new offices and about three-fifths were conversions of absorbed banks. Policy governing establishment of branches or additional offices. Upon receipt of an application to establish a branch or additional office the Corporation first satisfies itself that such estab lishment is authorized by law and has the approval of the proper State supervisory authority. These conditions having been complied with, the Corporation is required by the deposit insurance law to deal with the application on its merits, giving due consideration to the same factors governing action on applications of banks for admission to insurance, and paying particular attention to the adequacy of the capital structure of the applicant bank, the prospect of profitable operation of the branch, and the needs of the community. The Corporation believes that no bank should be allowed to estab lish a branch or additional office which, in addition to the minimum requirements specified in the law, does not have the minimum capital desired by the Corporation. The Corporation insists that unit banks adhere to such standards and believes that no discrimination should be made with regard to its standards as between unit banks and banks operating more than one office. Divided responsibility makes it diffi cult at times, however, for the Corporation to adhere strictly to its policy without subjecting some banks to discrimination. During the year 101 branches or additional offices were opened or acquired by 36 insured banks whose capital did not satisfy the minimum established by the Corporation. Table 9 shows for each class of insured bank the number of banks opening or acquiring branches or additional offices during 1936 grouped according to whether or not the banks had a total capital account equal to not less than 10 percent of total deposit liabilities. Divided supervisory authority leads to progressive lowering of standards which may have serious consequences as banking operations become more profitable and pressure for opening new banking offices becomes greater. In order to avoid such a development the Corpora tion recommends that, should Congress consider making any changes in Federal legislation relating to branch banking, specific attention be given to the requirements relating to capital of banks operating branches. The Corporation recommends that in addition to existing legal minimum requirements an insured bank contemplating the establishment of a branch should be required to have such minimum 26 FEDERAL DEPOSIT INSURANCE CORPORATION capital as the Federal Deposit Insurance Corporation may prescribe. The minimum to be prescribed by the Corporation should bear a reasonable relation to the liabilities and other obligations and respon sibilities of the banks, having due regard for the quality and character of the banks' assets. T ab le 9. N u m b e r AND DEPOSITS OF OPERATING INSURED COMMERCIAL BANKS E s t a b l is h in g B ranches or D u r in g A d d it io n a l O f f ic e s 1936 (Deposits in thousands of dollars) Deposits of banks with Number of banks with ratio of total capital ratio of total capital account to total deposits of- account to total deposits ofLess than 10 percent 10 percent or more Less than 10 percent 10 percent or more All in su red c o m m e rcia l b a n k s ....................... 36 75 3,371,279 1,407,362 Members F . R . System N ational............................................................ S tate.................................................................. 14 7 15 15 1,875,462 1,290,704 972,929 323,789 N ot members F. R . System ............................. 15 45 205,113 110,644 C hanges in C a p it a l of Banks Capital retirements approved by the Corporation. During 1936 the Federal Deposit Insurance Corporation approved the retirement by 504 insured banks not members of the Federal Reserve System of $18 million of preferred stock, capital notes, and debentures held by the Reconstruction Finance Corporation. Applications of 166 banks to retire about $4 million of such capital obligations were disapproved. About half of the approvals of retirement of Recon struction Finance Corporation capital were made conditional upon the issue of new preferred or common stock or upon the writing off of losses from the books of the bank. The capital obligations retired amounted to 9 percent of the total amount of such obligations of insured banks not members of the Federal Reserve System held by the Reconstruction Finance Cor poration. At the close of the year that Corporation still held ap proximately $192 million of the capital obligations of these banks. The Federal Deposit Insurance Corporation also approved the applications of 20 insured banks not members of the Federal Reserve System to retire other capital obligations, or to reduce common stock and disburse the proceeds, amounting to $574,000. In eight cases applications for permission to make such retirements or reductions were disapproved. Approval was also given by the Corporation to several applications for cancellation or reduction of the value of capital stock simultaneously with the sale of new stock or with the elimination of losses or increase of reserves or surplus on the banks’ books. Further details are given in Table 10, 27 CHANGES IN CAPITAL OF BANKS Repayment of contributions of stockholders, directors and others. Many insured banks which were reorganized or received contributions from stockholders or others when they were reopened after the Banking Holiday of 1933 have certificates of beneficial in terest outstanding in favor of such contributors. While these certi ficates of beneficial interest are usually carried in the bank's condition statement at a nominal value, they nevertheless usually carry a prior claim on part or all of the profits of the bank. Some retirements of such certificates, and repayment of contributions or release of direc tors' guaranties, occurred during the year. Policy regarding capital of banks. The Corporation has dis approved retirement of capital obligations of banks, repayment of contributions or release of guaranties in those cases in which the sound capital would have failed to meet the minimum desired by the Cor poration after giving effect to such retirements, repayments or releases. The minimum desired by the Corporation is a sound capital sufficient, having due regard for the quality and character of the assets held, to give reasonable assurance of the maintenance of an adequate margin of protection to depositors and other creditors and in no case equal to less than 10 percent of total deposits, and, in addition, a sound capital sufficient to assure the proper discharge of other responsibilities and functions of the bank. T ab le 10. U APPLICATION S FOR R ETIREM EN T OR REDUCTION pon by th e F ederal D e p o s it Insurance C OF o r p o r a t io n D C A P IT A L u r in g ACTED 1936 INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM Amount of retirement or reduction Number of banks making application Approved1 Disapproved T o t a l .......................................................................... Approved Disapproved 575 177 $29,774,229 $4,870,365 504 5 10 166 1 18,040,199 117,500 4,301,000 4,351,665 50,000 11 4 6 233,200 75,000 168,700 C a p ita l o b lig a tio n s h e ld b y th e R e c o n s tr u c t io n F in a n ce C o rp o ra tio n (including obligations held as collateral for loans): T o retire................................................................ T o cancel commitment of R F C ...................... T o reduce par value (but not retireable value) P referred s to c k a n d d e b e n tu re s n o t h e ld by th e R e c o n s tr u c tio n F in a n ce C o rp o ra tio n : T o retire............................................................... T o convert into common stock . T o cancel stock or debentures contributed to bank .......................................................... To reduce par value (but not retireable value) 4 3 270,800 1,864,000 C om m on sto ck : To reduce and disburse p ro ce e d s................ T o reduce or cancel, with simultaneous issue of new stock or debentures....................... T o reduce capital stock and correct capital impairment, eliminate losses, or increase reserves or surplus......................................... 9 2 32 341,210 25,000 2,524,250 18 2 2,007,070 275,000 in clu d es approvals conditional upon the fulfillment b y the applicant banks of specified conditions. In some cases these conditions were not fulfilled during 1936. Since some applications for the retirement or reduction of capital obligations held by the Reconstruction Finance Corporation and some applications for the retirement or reduction of preferred or common stock held by others, were made by the same banks, the total number of banks is less than the sum of the figures in the column below. 28 FEDERAL DEPOSIT INSURANCE CORPORATION The amount of sound capital which a bank has in relation to its deposits is one of the most important measures of the protection afforded by that bank to its depositors and to the Federal Deposit Insurance Corporation. Whenever a bank is found to have an in adequate margin of sound capital the Corporation endeavors to secure an increase in its capital funds. Of the insured banks not members of the Federal Reserve System 842, or 11 percent, had at the time of examination in 1936 sound capital that was equal to less than 10 percent of total deposits. A distribution of insured banks not mem bers of the Federal Reserve System according to the ratio of sound capital to deposits is shown on pages 54 and 55. The Corporation is continuing its efforts to improve the capital position of these banks. The Corporation has not compiled data regarding the sound capital of banks members of the Federal Reserve System. Data regarding the book value of their assets and liabilities compiled from reports of condition as of December 31, 1935, however, reveal that more than 10 percent of the banks members of the Federal Reserve System have capital below the minimum desired by the Corporation. In general the larger banks have less capital in proportion to their liabilities than do the smaller banks. At the close of the year 111 in sured commercial banks reported total deposits in excess of $50 million each. The 111 banks held nearly one-third of all the de posits insured by the Corporation. One-half, or 56, of these banks, holding one-fifth of all the deposits insured by the Corporation, have ratios of total capital account to total deposits of less than 10 percent. The minimum set by the Corporation is lower than the banks as a whole have ever had other than in times of acute depression. It was adopted as a practicable minimum at a time when the banks were struggling to rehabilitate themselves after three years of severe liquidation and depression. General adherence by the banks to such a low minimum as a standard would undermine the soundness of our banking structure. For several decades banks have tended to operate with decreasing capital margins. By 1920 they had reduced their capital funds in relation to liabilities other than capital to less than half the amount maintained twenty-five years earlier. Banking operations are becoming more profitable and investment of capital in banks will become more attractive. New capital funds should be used to increase the capital equities of existing institutions rather than to start new institutions which duplicate existing facilities. Although a large number of factors must be taken into consideration in determining the soundness of a bank and its risk to the Corporation it may be said that, in general, the lower the capital ratio the greater the risk to depositors and to the Corporation. The tendency of banks to operate with narrower capital cushions increases the risk of loss to the Corporation. The present assessment rate was estab lished on the assumption that losses in the future would be smaller than in the past. Unless the declining trend in the ratio of bank ASSUMPTION OF UNINSURED DEPOSITS 29 capital to liabilities is reversed losses may not be reduced, in which case either the assessment rate will have to be raised or fundamental changes will have to be effected in our system of banking. A s s u m p t io n of U n in s u r e d D e p o s it s Release of restricted deposits. Under the revised deposit in surance law, insurance coverage is extended only to deposits made available to depositors in the regular course of business. At the close of 1935 about 50 insured banks held deposits which had been restricted as to payment since the Banking Holiday of 1933, and which were, therefore, ineligible for insurance. The release of these deposits must be approved by the Federal Deposit Insurance Corporation in order for them to become insured. During 1936 the Corporation approved the applications of 18 insured banks to release $2.4 million of restricted deposits to their owners. One application covering $50,000 of de posits was disapproved. In addition, many insured banks requested the approval of the Corporation for the payment of dividends on certificates of beneficial interest issued to former depositors who had waived part of their deposit claims in order to permit the banks to continue or resume operations. In most cases the Corporation interposed no objection. Assumption of deposits of noninsured banks. Any assump tion of deposits of a noninsured bank by an insured bank requires the approval of the Federal Deposit Insurance Corporation. During 1936 the Corporation approved 22 applications from insured banks for permission to assume the deposits of noninsured banking institu tions. Sixteen of these institutions were regularly operating com mercial banks; the others included one bank operating under restrictions, one mutual savings bank, one cooperative banking company, one credit union and two closed banks. In 20 of these cases the transactions were completed during 1936, in one case the plan of absorption was abandoned and the approval of the Federal Deposit Insurance Corporation rescinded, and in one case the absorption had not taken place by the end of the year. In three cases of absorption of noninsured banks by insured banks the approval of the Corporation was not required, since in these cases only assets of the absorbed bank were acquired, their deposit liabilities being paid off in cash. Assumption of deposits of insured banks by noninsured banks. No applications were received by the Corporation from noninsured banks for permission to assume the deposit liabilities of insured banks. In three cases, however, noninsured banks were or ganized for the purpose of succeeding to the business of insured banks which went into voluntary liquidation. Inasmuch as the de positors were paid off by the insured banks and no contract of assump tion was made the Corporation had no jurisdiction in these cases and its approval was not required. 30 FEDERAL DEPOSIT INSURANCE CORPORATION Assumption o f deposits, and change of location, of insured banks. The assumption of deposit liabilities of one insured bank by another insured bank does not require the approval of the Federal Deposit Insurance Corporation, but such assumptions in connection with mergers or absorptions involving insured banks not members of the Federal Reserve System are frequently referred to the Corpora tion for approval prior to consummation. In four such cases during 1936 formal approval was given by the Corporation. In eight cases the Corporation approved changes in location of insured banks not members of the Federal Reserve System. R eports from Banks The Cor poration called for reports of assets and liabilities as of June 30,1936, and December 31, 1936, from each insured bank not a member of the Federal Reserve System, except those banks in the District of Colum bia and in the possessions which reported to the Comptroller of the Currency. The Corporation also called upon the same banks for a report of earnings, expenses, and disposition of profits for the year end ing December 31, 1936. The forms and instructions used in making these calls were those edopted or approved by a committee on stand ardization of bank report forms organized by interested agencies. The committee is composed of representatives of the National Asso ciation of Supervisors of State Banks, National Association of Bank Auditors and Comptrollers, the American Bankers Association, the Re serve City Bankers Association, and the Federal Deposit Insurance Corporation. The committee has made important progress in the standardization of report forms. More than 30 States either are now using the forms or have indicated their intention to do so in the near future. Summaries of the semi-annual reports of assets and liabilities, tabulated by States and by size of bank, are published in pamphlet form. Less detailed summaries will be found on pages 134-47 of this report, and an analysis of the data on pages 48 to 49. The reports for the year 1936 of earnings, expenses, and disposition of profits of insured banks not members of the Federal Reserve System have been tabulated on the basis of size of bank, number of banking offices in same center, population of center, profitability of operations, and types of assets and liabilities. The data are summarized in the tables on pages 164-89 and analyzed on pages 55 to 59. Reports of deposits. All insured banks were requested to report as of May 13, 1936, the number of their accounts with balances of over $5,000 and the number not over $5,000, together with the amount of deposits in such accounts, classified by type of deposit. These reports were used to estimate the amount and proportion of the deposits of insured banks which are protected by this Corporation. A pamphlet summarizing the data and entitled Insurance of Deposits was published in November 1936. The form used and instructions issued are given on pages 93 and 94. Some results of the inquiry will be found on pages 65 to 77 of this report. Reports of assets and liabilities and of earnings. REGULATIONS AND RULINGS OP THE CORPORATION 31 Reports issued by the Federal Deposit Insurance Corporation are sent without charge to insured banks and to others who request them. R e g u l a t io n s and R u l in g s of the C o r p o r a t io n Advertising by insured banks. Regulation III, relating to advertising by insured banks, was amended on October 26, 1936, to be effective November 20, 1936. The amended regulation provides in more specific terms what advertising matter of insured banks shall include the official statement of Federal insurance of deposits. It also enumerates a list of subjects, clearly unrelated to deposits, which, when used in advertising matter relating only to such subjects, need not be accompanied by the official statement. The amended regu lation is given on pages 82 to 85. Interest on deposits. Regulation IV, relating to the payment of deposits and interest thereon by insured banks not members of the Federal Reserve System, which was approved December 21, 1935, was amended January 23,1936, and made effective February 1 ,1936.1 Resolution extending tim e for insured banks to comply with Regulation III, as amended. By resolution of the Board of Directors effective December 3, 1936, insured banks with quantities of advertising matter on hand which does not comply with Regulation III are allowed until December 31, 1937, to distribute such matter. The text of the resolution is given on page 85. Resolution exempting banks with branches in foreign countries from provisions of Regulation III under certain circumstances. By resolution of the Board of Directors effective December 17, 1936, Regulation III was made not applicable to advertisements of banks which maintain offices in foreign countries, in which offices the deposits are not insured, when such advertisements are published in foreign countries. The text of the resolution is given on pages 85 to 86. Rules relating to payment of assessments. On June 11, 1936, the Board of Directors adopted five rules relating to payment of assessments by banks whose insured status has terminated, such rules to govern all situations where the insured status of banks has ter minated since August 23, 1935, or will terminate in the future. The text of these rules is given on page 92. L e g is l a t io n A f f e c t in g D e p o s it Insurance Extension of loan powers. On April 21, 1936, the President of the United States approved a joint resolution of Congress amending paragraph (4), subsection (n) of section 12B of the Federal Reserve Act, as amended, extending until July 1, 1938, the power of the lOn February 10, 1937, Regulation IV was amended, to be effective February 11, 1937, b y the elimination of subsection (f) of section 1 and the addition to subsection (a) of section 2 of the following sentence: “ Within this regulation any payment to or for the account of any depositor as compensation for the use of funds constituting a deposit shall be considered interest.” The latter amendment was only a formal change and did not affect the substance or meaning of the regulation as it had previously existed. The amended regulation is given on pages 86 to 91. 32 FEDERAL DEPOSIT INSURANCE CORPORATION Corporation to make loans to or purchase assets from banks whenever in the judgment of the Board of Directors of the Corporation such loans or purchases will reduce the risk or avert threatened loss to the Corporation and will facilitate a merger or consolidation of an insured bank with another insured bank. The original provision of the law was to expire on July 1, 1936. The text of the resolution is given on page 81. State legislation affecting deposit insurance. The insurance of deposits in banking institutions upon a national basis, provided for in the Banking Act of 1933, presented numerous legal problems in the practical application of the Federal deposit insurance law in the forty-eight States of the Union. In some of the States statutes, which were necessary for the proper functioning of the Corporation in these States, were lacking. In some States statutes existed which were at variance with the requirements of the Federal act. In response to many requests the Corporation prepared drafts of bills for introduction in the various State legislatures. This legislation was framed in as general a manner as possible and was drawn to grant authorizations rather than impose mandatory requirements. The suggested legislation was designed chiefly to serve the follow ing 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 examina tions 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 mini mum capital requirements; 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. Up to the close of 1935 the legislative proposals had been adopted in whole or in part in most of the States. During 1936 there were only four regular sessions of State legislatures. In one of these States all of the legislative proposals submitted by the Corporation had previously been enacted. Action either on a part or most of the proposals was obtained in the other three States. The Corporation has, in addition, cooperated in the development of legislation designed to provide for better control by the several State banking authorities of the chartering of new banks, so that factors may be taken into consideration that would result in the 33 ORGANIZATION AND STAFF avoidance of the establishment of an unnecessary number of banks in one locality and would permit banking services in others where the need existed. O r g a n iz a t io n and Staff Directors. No changes in the directorship of the Corporation occurred during 1936. The present directors served throughout the year. Divisions and com m ittees. During 1936 the New and Closed Bank Division was reorganized and named the Division of Liquidation. This Division pays insured depositors in closed insured banks, super vises liquidation of banks for which the Corporation is receiver, and supervises the liquidation of loans made to and assets purchased from banks. The Division has three sections: a pay-off and record section, which handles the pay-off of depositors in closed insured banks and maintains the accounting records of the Division; a liquida tion section, which has supervision of liquidation of banks for which the Corporation is receiver and of loans made and assets purchased by the Corporation; a legal section, which handles legal matters relating to receiverships and other activities of the Division. T ab le 11. OFFICERS AND EMPLOYEES OF THE FEDERAL DEPOSIT C o r p o r a t io n , D ecem ber INSURANCE 31, 1936 Total Officers; Clerical, adminis stenographic, trative, and supervisory, custodial and technical employees employees ............................................................................................. 801 476 325 W a s h in g to n o ff i c e .................................................................... 273 92 181 Directors and aides................................................................. Office of the Secretary............................................................ Administrative and Service D ivision.................................. Division of Exam ination........................................................ Division of Liquidation1 ....................................................... Division of Public Relations................................................. Legal D ivision.......................................................................... Division of Research and Statistics.................................... 8 10 104 42 55 4 11 39 4 1 21 20 30 3 5 8 4 9 83 22 25 1 6 31 D istr ic t o ffic e s ............................................................................ 528 384 144 528 384 144 T otal E xcludes 44 persona employed temporarily in connection with the liquidation of loans and of suspended insured banks. A committee on liquidation, loans, and purchase of assets, was created to review recommendations of the Division of Examination relative to loans and purchase of assets in connection with mergers, and to consider recommendations from the Division of Liquidation relative to the liquidation of banks for which the Corporation is receiver, and of loans made to or assets purchased from banks. The committee is composed of one of the directors of the Corporation and of representatives of the Division of Examination, Division of 34 FEDERAL DEPOSIT INSURANCE CORPORATION Liquidation, and Legal Division. Its recommendations are sub mitted to the Board of Directors for final action. A chart of the organization of the Corporation as of December 31, 1936, is shown on page 6. Personnel. Personnel at the close of 1936 consisted of 801 officers and employees, of whom 273 were located in the main office at Washington and 528 in the field and at the regional offices. The number of employees increased by 63 during the year. Except for temporary employees engaged in paying off depositors in insured banks or in the liquidation of insured banks for which the Corporation is receiver, the employees located in the field and at the regional offices were all connected with the Division of Examination of the Corporation. The number of officers and employees of the Cor poration at the end of 1936 is given in Table 11. F in a n c ia l Statem ent of the C o r p o r a t io n Condensed balance sheets of the Corporation as of December 31, 1935, and December 31, 1936, are given in Table 12. An analysis of surplus for the year 1936, and a statement of the distribution of administrative expenses, are given in Table 13. Incom e and expenses. The total income of the Corporation during 1936 amounted to $43.8 million, and was received from two sources: $35.6 million from assessments on insured banks at the rate of 1/12 of 1 percent per year of their total deposits; and $8.2 million from interest on securities owned after provision for amortization of purchase premiums. Total expenses and losses during the year amounted to $6.6 million. Of this amount $4.1 million represented losses and expenses to the Corporation incurred in paying depositors of suspended banks and in aiding the merger of insolvent banks. Administrative expenses of the Corporation amounted to $2.5 million. Assessments. Assessments on insured banks are levied semi annually, in January and July, at an annual rate of 1/12 of 1 percent. The amounts of the assessment are computed on the basis of certified statements of deposits submitted by the banks. Each assessment is for 1/24 of 1 percent of average daily deposits, including uninvested trust funds and adjusted for uncollected items and other allowable deductions during the six months ending, respectively, on the pre ceding December 31 and June 30. Due to the growth in deposits, the second assessment collected in 1936 was approximately 3 percent larger than the first, the assessment in January amounting to $17.5 million and that in July to $18.1 million. Only two-fifths of the total assessments collected in 1936 were received in cash, the remainder having been prepaid by credits to the accounts of the banks at the close of the temporary deposit insurance plan. Approximately $8.4 million of such credit still re mained at the close of the year to be applied on future assessments. FINANCIAL STATEMENT OF THE CORPORATION 35 Incom e from investments. The funds of the Corporation, with the exception of a working cash balance, and of assets acquired through bank suspensions and mergers, are invested in United States Govern ment securities. The Corporation increased its holdings of United States Government securities from $298 million to $333 million during the year, but net income from these holdings showed practically no change. Interest received on United States Government securities, less allowances for amortization of purchase premiums, was $8,213,000 in 1936, compared with $8,159,000 in 1935. At the close of 1936 the Corporation held subrogated claims of depositors against closed insured banks, loans to merging banks made to avert losses, and other assets acquired through bank suspensions and mergers, amounting at face value to a total of $19 million. These assets were carried on the books of the Corporation at $11 million, the balance, or 40 percent, having been charged to expenses as a reserve for losses. Operating expenses. The administrative expenses of the Cor poration, which amount to approximately $2.5 million a year, are less than one-third of the income of the Corporation from its investments in United States securities. The cost of examining banks not mem bers of the Federal Reserve System is a large part of the administrative expenses. The item, “ deposit insurance losses and expenses” , amounting to $4 million for the year 1936, represents the estimated loss and expense to the Corporation incurred in paying off the depositors in banks which suspended during the year and in making loans to and pur chasing assets from merging insolvent banks. Reports to insured banks. The Federal Deposit Insurance Corporation issued during 1936 a report summarizing briefly the operations of the Corporation, and including statements of assets, liabilities, surplus and expenses, from the inauguration of the per manent insurance plan to June 30, 1936. A similar report for the period from June 30 to the end of the year has also been published. Adequacy of assessment. The fact that the expenses and losses of the Corporation have not exceeded its income from investments, thus enabling a transfer to surplus of the entire amount of assessments collected, has resulted in frequent proposals for a reduction in the rate of assessment. The Corporation is opposed to any reduction in the rate of assessment at the present time. The deposit insurance system has not yet been tested. If an insurance corporation with an assessment rate comparable to that now in force had been set up at the close of any one of the four major banking crises preceding the crisis of 1930-1933, assessments would have proved inadequate to meet losses. In one case assessments would have been sufficient to meet losses for only about six years. In the other cases assessments would have been sufficient for eleven, thirteen and twenty-two years, respectively. It is evident, therefore, that the losses of the past three years are not a test of the adequacy of the present rate of assessment. 36 FEDERAL DEPOSIT INSURANCE CORPORATION T ab le 12. COMPARATIVE BALANCE SHEET OP THE FEDERAL DEPOSIT INSURANCE C o r p o r a t io n , D ecem ber 3 1 ,1 9 3 6 , and D ecem ber 3 1 ,1 9 3 5 December 31,1936 December 31,1935 ASSETS Cash on hand and on deposit....................................................... $ 9,089,127.20 $ 33,477,860.73 United States Government securities— (cost less reserve for am ortization of premiums) and accrued interest receivable $332,642,349.08 $298,258,349.76 $ 10,410,968.67 $ Assets acquired through bank suspensions and mergers: Subrogated claims of depositors against closed insured b an k s... Net balances of depositors in closed insured banks pending settlement or not claimed, to be subrogated when p aid-contra. Loans to merging banks to avert deposit insurance losses........... Assets purchased from merging banks to avert deposit insurance Less* Reserve for losses............................................................. 1,261,435.84 6,406,006.52 1,020,740.35 $ 19,099,151.38 7,707,929.23 $ 11,391,222.15 5,840,595.75 684,538.84 2,820,014.03 $ $ 9,345,148.62 3,927,047.27 5,418,101.35 Furniture, fixtures and equipm ent................................................ $ 1.00 $ 1.00 Deferred charges and miscellaneous assets............................... $ 48,905.91 $ 55,483.13 Total assets............................................... .............................. $353,171,605.34 $337,209,795.97 LIA B IL IT IE S Current liabilities: Accounts and assessment rebates payable....................................... $ N et balances of depositors in closed insured banks pending settlement or not claimed— contra................................................ 1,261,435.84 684,538.84 Unused credits for assessments paid to temporary Federal Deposit Insurance funds and prepaid assessments............. 8,360,441.69 30,257,108.53 Reserve for undetermined expenses and losses......................... T otal liabilities........................................................................ 76,623.72 $ 92,534.39 68,223.32 118,278.69 9,766,724.57 $ 31,152,460.45 $150,000,000.00 139,299,556.99 $289,299,556.99 $150,000,000.00 139,299,556.99 $289,299,556.99 $ C A PITA L Capital stock: United States........................................................................................... Federal Reserve banks.......................................................................... Surplus (See Table 1 3 ).......................................................................... 54,105,323.78 16,757,778.53 Total capital............................................................................. $343,404,880.77 $306,057,335.52 Total liabilities and capital............................................... $353,171,605.34 $337,209,795.97 37 FINANCIAL STATEMENT OF THE CORPORATION T ab le 13. E ANALYSIS OF SURPLUS ACCOUNT AND DISTRIBUTION OF ADMINISTRATIVE xpen ses, Federal D e p o s it i. I nsu rance C o r p o r a t io n , C alendar Y ear 1936 a n a l y s is o f s u r p l u s B a la n ce D e c e m b e r 31, 1935..................................................................................................... $ 16,757,778.53 A d d-n et adjustments applicable to periods prior to January 1, 1936............................................................................................................................................ 173,903.33 B a la n ce as a d ju s t e d D e c e m b e r 31, 1935............................................................................ $ 16,931,681.86 S u rp lu s fo r th e ye a r e n d in g D e c e m b e r 31, 1936: Additions: Deposit insurance assessments........................ $ 35,557,817.67 Interest earned (less provision for amortiza tion of prem ium s)........................................... 8,212,741.51 Deductions: Deposit insurance losses and expenses.......... $ Administrative expenses.................................... Furniture, fixtures and equipment purchased and charged o ff............................................... $ 43,770,559.18 4,075,057.40 2,483,217.36 38,642.50 6,596,917.26 37,173,641.92 B a la n ce D e c e m b e r 31, 1936..................................................................................................... $ 54,105,323.78 II. D IS T R IB U T IO N OF A D M IN IS T R A T IV E EXPE N SE S Salaries.............................................................................................................................................. $ Professional services...................................................................................................................... Services of other governmental agencies.................................................................................. Transportation................................................................................................................................ Subsistence....................................................................................................................................... Office rental...................................................................................................................................... Printing, stationery and supplies............................................................................................... Postage, telephone and telegraph............................................................................................... Fidelity bond premiums................................................................................................................ Subscriptions................................................................................................................................... E quipment rental........................................................................................................................... Repairs and alterations................................................................................................................. Transportation of things.............................................................................................................. Miscellaneous................................................................................................................................... Provision for undetermined expenses........................................................................................ 1,790,971.13 5,269.25 125.00 100,142.77 375,719.37 111,624.51 73,789.20 28,276.68 6,305.85 2,385.14 741.59 4,645.87 1,836.56 2,623.16 1,489.46 $ 2,505,945.54 L ess: Miscellaneous income applicable to reduction of administrative expenses.................................................................................................. $ 4,678.44 Inter-departmental expense transfers.................................................. 18,049.74 A d m in istra tiv e expenses fo r th e yea r e n d in g D e c e m b e r 31, 1936.............................................................................................................. 22,728.18 $ 2,483,217.36 38 FEDERAL DEPOSIT INSURANCE CORPORATION The rate of assessment now in force, furthermore, was adopted on the assumption that losses in the future would be less than they have been in the past: (1) as a result of greater stability in our economic structure, resulting from improved credit control and improved standards and practices of bank supervision; (2) by reason of the fact that the banking structure has been rehabilitated; and (3) through improvement in bank management resulting from the earnest and cooperative efforts of bankers through conferences and research to pool their knowledge and experience and develop improved standards of management and banking practices. Four years of business recovery from a severe depression do not constitute an adequate test of the foundations of this assumption. Present policies and instruments of credit control have not yet been tested. The efficacy of our present supervisory system remains to be demonstrated. In the past, diffusion of responsibility has led to a progressive lowering of standards on the part of supervisory agencies, with serious consequences to the soundness of our financial institu tions. Bank supervision is still distributed among several Federal agencies. No reduction in assessments should be made until we are assured that the banking system will be maintained in a sound condition. The Corporation has repeatedly emphasized the conditions necessary to the maintenance of a sound banking system: Facilities adequate to serve the needs of the public but not so excessive as to impair the prospects of profitable operations of the individual units; Reasonable and coordinated policies regarding the char tering and supervision of all types of credit agencies; Maintenance of adequate capital equities; Operation with sufficient margin of profit to assure the continued functioning of a bank; Avoidance of payment of excessive unearned dividends with consequent weakening of the capital structure; Avoidance of speculative practices in the extension of loans and the purchase of securities; Avoidance of excessive loans to officers, directors, their interests, and to other favored parties; Prompt elimination of hazardous and worthless assets from the bank's portfolio and proper provision for depreciation of assets; Maintenance of a proper distribution of assets so as to permit prompt and easy discharge of the bank's expected and foreseeable obligations; Provision for those contingencies and hazards that are characteristic of modern banking and of our economic FINANCIAL STATEMENT OF THE CORPORATION 39 system, as well as those peculiar to the region in which the bank is located; and Alertness and flexibility of management sufficient to permit of adjustment to changing circumstances. There is much that supervisory authorities can do, but in the final analysis responsibility rests squarely upon bank management, and the continuance of our present banking and credit systems will depend mainly upon the competence of our bankers. PART TWO DEPOSIT INSURANCE AND BANKING DEVELOPMENTS 43 DEPOSIT INSURANCE AND BANKING DEVELOPMENTS Sum m ary B a n k in g of D evelopm ents The margin of protection provided depositors and the Federal Deposit Insurance Corporation by stockholders' funds in 1936 was practically the same as in 1935. Deposits increased substantially during the year. The growth in deposits was accompanied by a proportionate growth in sound capital. The total capital account as carried on the banks' books showed a smaller relative growth, reflecting in part the charging off of bad assets and in part the in clusion in sound capital of unrealised appreciation in assets. By the close of 1936 the banks had largely eliminated the assets made worthless by the recent depression. Net earnings and profits were higher than in any other recent year. The trend toward branch banking continued during 1936. The total number of commercial banking offices in operation was reduced slightly, reflecting in part the elimination of weak banks. C o m m e r c ia l B a n k in g O f f ic e s Commercial banking facilities in the United States. On December 31, 1936, 18,422 commercial banking offices were located in 11,964 cities, towns, villages and other centers in the United States (excluding possessions). About one-half of the banking offices were located in places with only one commercial banking office. Most of the banking offices in places with more than one banking office were located in centers with a population of more than 5,000. The figures are shown in Table 14. T a b le 14. CENTERS WITH COMMERCIAL BANKING OFFICES AND NUMBER OF O p e r a t in g C o m m e r c ia l B a n k in g D O f f ic e s , C o n t in e n t a l U ecem ber n it e d State s, 31, 1936 GROUPED ACCORDING TO POPULATION OF CENTER AND NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER Number of centers Total Number of banking offices W ith 1 banking office With 2 or more banking offices In centers with— Total 1 banking office 2 or more banking offices T o t a l ............................................ 11,964 9,087 2,877 18,422 9,087 9,335 C en ters w ith p o p u la tio n (1930) o f — Under 1,000............................ 1,000 to 2,500......................... 2,500 to 5,000......................... 6,005 2,847 1,308 5,716 2,203 689 289 644 619 6,300 3,530 2,010 5,716 2,203 689 584 1,327 1,321 5,000 to 25,000...................... 25,000 to 100,000.................. 100 000 and o v e r................... 1,431 280 93 469 10 962 270 93 2,833 1,122 2,627 469 10 2,364 1,112 2,627 44 FEDERAL DEPOSIT INSURANCE CORPORATION The 93 cities with more than 100,000 population each, had about 2,600 banking offices. While only a small proportion of all banking offices were in these cities these offices held considerably more than one-half of the deposits in the commercial banking system. Numerous places which have had banks at some time during the past ten or twenty years are now without banks or banking offices. The extent to which these places are adequately served and the extent to which they can support additional facilities are matters of concern to the Corporation. With modern methods of communica tion and transportation the need for banking offices in most of these centers is less than it was two decades ago. There are relatively few centers with a population of over 2,500 that are without banking offices. Most of these places are suburbs or satellites of larger cities. Less than 25 are located more than 10 miles from a city or town with a banking office. Types of commercial banking offices in operation. Of the 18,516 commercial banking offices in the United States and posses sions, 14,257 were unit banks having one place of business, and 4,259 were offices of 894 banks accepting deposits at more than one place. Of the 3,365 branches or additional offices 3,306 were located in the continental United States. Of these 1,634 were located in the same city as the head office, 677 were located elsewhere in the same county, 988 were located elsewhere in the State, and 7 were located in other States. The figures are shown in Table 15. T ab le 15. NUMBER AND TYPE OF OPERATING COMMERCIAL BANKING O f f ic e s in t h e U n it e d S t a t e s a n d P o s s e s s io n s , D e c e m b e r 31, 1935, a n d D e c e m b e r 31, 1936 Dec. 31, 1936 Dec. 31, 19351 Change during year T o ta l b a n k in g o ffic e s ........................................................................ Unit banks......................................................................................... Banks operating more than one office............................................ 18,516 14,257 894 18,622 14,518 856 -106 -261 + 38 B ranch es o r a d d ition a l offices— t o t a l ..................................... In possessions................................................................................. In c o n tin e n ta l U nited S tates— t o t a l ................................... Located in head office city ....................................................... Located elsewhere in head office cou nty................................ Located elsewhere in State..................................................... Located in other States......................................................... 3,365 59 3,306 1,634 677 988 7 3,248 58 3,190 1,647 637 899 7 + 117 +1 + 116 -13 +40 + 89 1Revised since publication of the Annual Report of the Federal Deposit Insurance Corporation for the year ending December 31, 1935. N O T E : More detailed figures relating to all commercial banks will be found in Tables 101-04, pages 100-13; and in Table 107, pages 120-21; and relating to insured commercial banks in Tables 108-09, pages 122-23. Of the branches located outside the head office city 1,000 or 60 percent were in centers with no other banking office and 672 were in centers with more than one banking office. Changes in operating commercial banking offices during 1936. The trend toward branch banking which has been in exist ence since the beginning of the century continued during 1936. The number of unit commercial banks in the United States and pos 45 COMMERCIAL BANKING OFFICES sessions was reduced by 261 during the year, while the number of offices of banks operating more than one office increased by 155. The proportion of total banking offices operated by branch banking systems increased during the year from 22 to 23 percent. In 1925 only 11 percent of all banking offices were operated by banks opera ting more than one office. T ab le 16. ANALYSIS OF CHANGES IN NUMBER OF OFFICES OF O p e r a t in g C o m m e r c ia l B a n k s in t h e U n it e d S t a t e s a n d P o s s e s s i o n s D u r i n g 1936 Total offices N et ch a n g e d u rin g 1936................................................................... Banks beginning operations and branches opened1 .................... Trust company admitted to insurance........................................... Banks converted into branches....................................................... B anks ceasing op era tion s and branch es d is c o n t in u e d t o ta l1 Suspensions.................................................................................. Mergers and consolidations, excluding banks converted into branches.......................................................................... Voluntary liquidations............................................................. Branches otherwise discontinued......................................... Banks Branches -106 -223 + 117 +165 +1 +65 + 1 -73 +100 -272 43 -216 43 -56 110 65 54 108 65 + 73 2 54 Excluding banks succeeding, or succeeded b y, other banks or branches. N O T E : More detailed figures will be found in Table 102, pages 102-04. The total number of commercial banks in operation was reduced by 223 during 1936. Excluding successions, 289 banks ceased opera tions or were converted into branches, while 65 new banks began operations, and 1 trust company doing only a trust business was admitted to insurance and thereby included in the tabulation of the number of operating insured commercial banks at the close of the year. Of the banks ceasing operations 43 suspended operations (ex cluding one suspended bank immediately succeeded by a new bank), 181 were eliminated through mergers, consolidations or conversions into branches, and 65 went into voluntary liquidation. An analysis of changes in the number of operating commercial banks and banking offices in the United States and possessions is presented in Table 16. P a r t ic ip a t io n in D e p o s it Insurance Number of operating insured and noninsured commercial banks and banking offices. On December 31, 1936, the Federal Deposit Insurance Corporation insured deposits in 13,973 commercial banks operating 17,234 offices. The number of insured banks in operation was reduced by 153, or 1 percent, during the year. This reduction reflected chiefly mergers and the conversion of unit banks into branches of banks operating more than one office. The total number of banking offices of insured commercial banks showed little reduction during the year. The figures are shown in Table 17. 46 FEDERAL DEPOSIT INSURANCE CORPORATION Notwithstanding the reduction in number, the proportion of opera ting commercial banks insured by the Corporation increased from 91.9 percent at the beginning of the year to 92.2 percent at its close. The number of noninsured commercial banks in operation was reduced by 5.6 percent during the year, to 1,178 on December 31. T ab le 17. N u m b e r OF OPERATING INSURED AND NONINSURED COMMERCIAL B a n k in g O f f ic e s in t h e U n it e d S t a t e s a n d P o s s e s s io n s , D e c e m b e r 31, 1935, a n d D e c e m b e r 31, 1936 Dec. 31, 1936 Dec. 31, 19351 Change during year N u m b er o f b a n k in g o ffic e s ............................................................. Insured................................................................................................. Noninsured........................................................................................... 18,516 17,234 1,282 18,622 17,265 1,357 -106 -31 -75 N u m b er o f b a n k s ................................................................................. Insured................................................................................................. Noninsured........................................................................................... 15,151 13,973 1,178 15,374 14,126 1,248 -223 -153 -70 R evised since publication of the Annual Report of the Federal Deposit Insurance Corporation for the year ending December 31, 1935. N O T E : More detailed figures will be found in Table 101, pages 100-01. Deposits of operating insured and noninsured commercial banks. On December 31, 1936, deposits of all commercial banks amounted to $50.8 billion, of which $49.2 billion, or 97 percent, were in insured banks and $1.6 billion, or 3 percent, were in noninsured banks. Deposits were $5.2 billion, or 11.4 percent, larger at the close than at the beginning of the year. Nearly all of the increase in deposits during the year was in insured banks. Deposits of non insured banks increased by 6.5 percent. More detailed data regarding the number and deposits of banks are given in Tables 101-13, pages 100-33, and consolidated statements of condition of all insured and noninsured commercial banks are presented in Table 114, page 134. T ab le 18. CHANGES DURING 1936 IN DEPOSITS OF OPERATING INSURED C o m m e r c ia l B a n k s (Amounts in thousands of dollars) Amount D ec. 31, 1936 T o t a l .......................................................................... Demand deposits of individuals, partnernerships, and corporations............................ Time deposits of individuals, partnerships, and corporations............................................. D eposits of States and their political sub divisions ............................................................ United States Government and postal savings deposits............................................... Deposits of other banks; cash letters of credit, certified, officers’ and travelers’ checks outstanding...................................................... D ec. 31, 1935 Amount Percent 49,257,984 44,125,621 +5,132,363 + 11.6 23,419,236 20,074,063 +3,345,173 + 16 .7 13,454,142 12,495,559 +958,583 + 7 .7 3,263,286 3,079,425 +183,861 + 6 .0 1,086,301 1,161,236 -74,935 -6 .5 8,035,019 7,315,338 +719,681 + 9 .8 N O T E : More detailed figures will be found in Table 116, pages 136-38. Change during year 47 PARTICIPATION IN DEPOSIT INSURANCE Deposits of insured commercial banks increased by 11.6 percent during 1936. The growth was distributed in about the same way in 1936 as in 1935 among the various types of deposits and the various parts of the country. The greater portion of the growth occurred in demand deposits of individuals, partnerships, and corporations. Their time deposits and deposits of other banks also contributed to the increase in total deposits. Deposits increased in all of the States, the rate of increase being largest in the East North Central States and least in the New England States. Figures for the country as a whole are shown in Table 18. Admissions to and terminations of insurance. The total number of banks admitted to insurance during 1936 was 135. Of these, 36 were new banks, 46 were previously operating noninsured banks, 52 were banks which succeeded other insured banks or which withdrew from the Federal Reserve System, and 1 was a trust com pany not receiving regular demand and time deposits. Table 19. ADMISSIONS TO AND TERMINATIONS OF INSURANCE DURING 1936 N ot Offset offset by by terminations terminations Total T o ta l n u m b e r o f a d m is s io n s .......................................................... 135 83 36 46 1 46 6 36 46 1 New banks........................................ ................................................... Operating banks admitted to insurance......................................... Trust company not engaged in banking admitted to insurance. . Successors to insured banks............................................................. Banks withdrawing from Federal Reserve System....................... Total 52 46 6 N ot offset by admissions Offset by admissions T o ta l n u m b er o f te r m in a tio n s ........................................................ 288 236 52 B anks ceasing op era tion s— t o ta l................................................. Suspensions....................................................................................... Insolvent banks merged with aid of loans by the Federal Deposit Insurance Corporation............................................... Other mergers, absorptions and consolidations.......................... Other liquidations........................................................................... Banks succeeded by other banks.................................................. 281 41 235 40 46 1 27 142 31 40 22 139 31 3 5 3 37 7 1 6 Withdrawals from Federal Reserve System .................................. N O TE : More detailed figures will be found in Table 102, pages 102-04. The total number of terminations of insurance, including with drawals from Federal Reserve membership and banks succeeded by other banks, was 288. Of these, 68 were suspensions or mergers of insolvent banks, 173 were mergers of other banks, consolidations and liquidations, and 47 were banks which were succeeded by other banks or which withdrew from the Federal Reserve System. A classification of these admissions and terminations is given in Table 19. 48 A FEDERAL DEPOSIT INSURANCE CORPORATION ssets a n d L ia b il it ie s of O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s Assets and liabilities at the beginning and close of the year. On December 31, 1936, total assets of operating insured commercial banks amounted to $56.2 billion. These assets were distributed as follows: Cash and due from banks Obligations of the United States Government Other securities Loans and discounts Miscellaneous assets 28 per cent 26 ” 14 ” 28 ” 4 ” During 1936 total assets of insured commercial banks increased by $5.3 billion or 10 percent. Cash and amounts due from other banks increased by 14 percent, holdings of United States Government securities by 11 percent, other securities by nearly 11 percent, and loans by 8 percent. Table 20. CHANGES DURING 1936 IN ASSETS AND LIABILITIES OF OPERATING I n s u r e d C o m m e r c ia l B a n k s (Amounts in millions of dollars) Amount D ec. 31, 1936 Change during year D ec. 31, 1935 Amount Percent ASSETS Cash and due from banks..................................... Obligations of the United States Government Other securities....................................................... Loans and discounts............................................... Miscellaneous assets............................................... T o ta l a s s e ts ................................................... 15,731 14,749 7,558 15,940 2,218 56,196 13,851 13,275 6,841 14,698 2,253 50,918 + 1,880 + 1,474 + 717 + 1,242 — 35 + 5,2 78 + 13 .6 + 11 .1 + 10 .5 + 8 .4 -r-1.5 + 10.4 49,258 609 6,329 56,196 44,126 582 6,210 50,918 + 5,132 +27 +119 +5,278 + 11 .6 + 4 .6 + 1 .9 + 1 0 .4 L IA B IL IT IE S A N D C A P IT A L Total deposits.......................................................... Miscellaneous liabilities......................................... Total capital accou nt............................................. T o ta l lia b ilities a n d ca p ita l a c c o u n t .. N O T E : More detailed figures will be found in Table 116, pages 136-38. Deposits increased by $5.1 billion during 1936. This growth was accompanied by a smaller proportionate growth in total capital account. Deposits increased by 12 percent while total capital account increased by only 2 percent. The ratio of total capital account to total assets was reduced from 12.2 percent on December 31, 1935, to 11.3 percent on December 31, 1936. Changes during 1936 in assets and liabilities of operating insured commercial banks are shown in Table 20. Factors in growth of deposits and assets. As in 1935, the growth of deposits in 1936 reflected chiefly Treasury purchases of gold and silver and sale of United States Government obligations to 49 ASSETS AND LIABILITIES OF OPERATING BANKS the banks. The magnitude of these operations, however, and their influence on the growth of deposits was considerably less in 1936 than in 1935. On the other hand, loans and holdings of securities other than United States Government obligations, which had increased by only $0.6 billion in 1935, increased by $2 billion during 1936. Inter bank obligations and float (checks in process of collection) increased by $1 billion in 1936. The figures are summarized in Table 21. The table shows figures for all commercial banks. Practically all of the changes, however, occurred in the insured commercial banks. T able 21. M ajo r FACTORS IN THE GROWTH OF DEPOSITS AND ASSETS o f C o m m e r c ia l B a n k s , 1935 a n d 1936 (Amounts in billions of dollars) 1936 1935 F a ctors te n d in g to in crea se d ep o sits a n d assets— t o t a l ................................... 6.2 6.7 Increase in monetary gold and silver stocks1 ..................................................... N et purchase of obligations of the U. S. Governm ent........................................... N et increases in loans and holdings of securities other than U. S. Government obligations...................................................................................................................... Increase in domestic interbank deposits................................................................... Increase in float................................................................................................................ ............................................................... Reduction in Treasury cash balances 1.3 1.4 2.2 22.4 2.0 0.7 0.3 0.5 0.6 1.1 0.4 F a ctors te n d in g to d ecrease d ep osits a n d assets— t o t a l .................................. 0.9 1.1 Withdrawal of cash b y the public............................................................................... National bank notes retired........................................................................................... Other factors— net influence......................................................................................... 0.6 0.2 0.1 0.3 0.4 0.4 F a ctors te n d in g to re d u c e d ep osits b u t n o t a ssets: Increase in total capital account.................................................................................. 0.1 0.1 N et g r o w th in to ta l d e p o s its ............................................................................... 5.2 5.5 5.3 4.9 F a ctors te n d in g to re d u c e assets b u t n o t d e p o sits: 0.7 Retirement of bonds pledged to secure national bank notes................................ N et g r o w th in to ta l a ss e ts ................................................................................ lDoes not include gold purchased by the U. S. Government and held in its “ inactive account” . 2Excluding retirement of bonds pledged by banks to secure national bank notes. A p p r a is a l not of M A ssets em bers of of O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s T he F ederal R eserve System Insured commercial banks not members of the Federal Reserve System hold approximately 23 percent of the deposits insured by the Federal Deposit Insurance Corporation and approximately 13 percent of the assets of all insured commercial banks. For these banks, which are examined by the Corporation, data regarding the examiners' appraisal of their assets have been compiled. Such data have not been compiled for banks which are members of the Federal Reserve System. Worthless and doubtful assets. The assets of insured commer cial banks not members of the Federal Reserve System estimated by examiners to be worthless or of doubtful worth amounted to 2.7 50 FEDERAL DEPOSIT INSURANCE CORPORATION percent of total assets at the time of examination in 1936. In 1935 such assets amounted to 4.7 percent, and in 1934 to 6.7 percent of total assets. The figures are summarized in Table 22. T ab le 22. W ORTH LESS AND D O U B TFU L ASSETS AS OF D A T E OF E XA M IN ATIO N 1933— 1936 o p e r a t in g in s u r e d n o t m e m b e r s OF THE FEDERAL SYSTEM GROUPED BY AMOUNT OF DEPOSITS c o m m e r c ia l b a n k s reserve Percent of assets estimated to be worthless or of doubtful worth in— 1936 1935 1934 1933 A ll b a n k s ................................................................. 2.7 4.7 6.7 10.5 B an ks w ith d ep osits o f— $100,000 and under............................................ $100,000 to $250,000......................................... $250,000 to $500,000......................................... 4.3 2.2 1.8 5.1 3.2 3.0 6.2 4.7 5.2 9.3 8.5 8.7 $500,000 to $1,000,000...................................... $1,000,000 to $2,000,000.................................. $2,000,000 to $5,000,000.................................. 2.0 2.6 3.0 3.4 4.6 5.4 5.9 6.5 7.6 10.9 11.5 11.2 $5,000,000 to $50,000,000................................ Over $50,000,000................................................ 3.5 2.5 6.2 5.3 7.9 8.1 11.2 9.5 N O T E : More detailed figures will be found in Tables 124-25, pages 156-61. The reduction during 1936 in the proportion of assets judged to be worthless or of doubtful worth reflected write-offs of some assets and increases in the volume and appraised value of other assets. Holdings of worthless and doubtful assets were reduced between the 1935 and the 1936 examinations to a greater extent proportionately in the large than in the small banks. In 1936 large banks held about the same proportions of worthless and doubtful assets as did small banks. T able 23. SUBSTANDARD ASSETS AS OF D A T E OF EXAM IN ATION IN 1936 OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM GROUPED BY AMOUNT OF DEPOSITS Percent of assets other than U. S. Government obligations classified as substandard Loans Securities Other assets All b a n k s ................................................................................................ 21.0 24.6 13.1 B anks w ith d ep osits o f — $100,000 and under............................................................................ $100,000 to $250,000.......................................................................... $250,000 to $500,000.......................................................................... 22.3 19.8 18.7 42.6 23.5 28.3 8.6 7.0 7.4 $500,000 to $1,000,000....................................................................... $1,000,000 to $2,000,000.................................................................... $2,000,000 to $5,000,000................................................................... 20.4 21.3 22.8 22.6 19.0 25.7 9.8 11.8 15.8 $5,000,000 to $10,000,000................................................................. $10,000,000 to $50,000,000............................................................... Over $50,000,000................................................................................. 20.4 23.5 19.0 33.1 28.5 14.3 20.1 19.4 15.1 NOTE:JFigures relating to loans and to other assets will be found iniTables 123-24, pages 152-59. CAPITAL OF OPERATING INSURED COMMERCIAL BANKS 51 Substandard assets.1 Holdings of substandard securities by operating insured commercial banks not members of the Federal Reserve System were reduced during 1936. About 25 percent of the securities held by these banks, other than obligations of the United States Government, were substandard in 1936 compared with 32 percent in 1935. During 1936 banks with deposits of less than $500,000 increased their holdings, while the larger banks, particularly those in important financial centers, reduced their holdings of sub standard securities. Holdings of substandard loans amounted to 21 percent of total loans in 1936 as compared with over 25 percent in 1935. Table 23 shows for banks grouped by amount of deposits the proportions of the different types of assets classified as substandard in 1936. C a p it a l of O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s Total capital account of operating insured commercial banks. On December 31, 1936, insured commercial banks reported a total capital account of $6.3 billion, an increase for the year of $100 million or 2 percent. The increase reflected chiefly the addition to capital account of $300 million of net profits after payment of dividends, and a reduction of $224 million in capital supplied by the Reconstruction Finance Corporation. Changes during the year are summarized in Table 24. Table 24. A N A LY SIS OF CHANGES IN T O T A L C APIT A L ACCOUNT OF O p e r a t i n g I n s u r e d C o m m e r c i a l B a n k s D u r i n g 1936 (Amounts in millions of dollars) T o ta l c a p ita l a c c o u n t , D e c e m b e r 31, 1 936............................................................................... 6,329 T o t a l ca p ita l a c c o u n t , D e c e m b e r 31, 1935 .............................................................................. 6,210 N et ch a n g e d u rin g y e a r .................................................................................................................. + 11 9 Net profits after dividends.......................................................................................................... Capital supplied by Reconstruction Finance Corporation................................................... Other contributions, retirements, and changes due to admission to or withdrawal from insurance............................................................................................................................ +300 -224 +43 At the close of 1936 total capital account of insured commercial banks was equal to 11.3 percent of total assets. This compares with total capital amounting to 12.2 percent of total assets at the close of 1935, and of 13.2 percent of total assets at the close of 1934. There is considerable variation among the banks in the ratio of their total capital accounts to total assets and to deposits. Among 1 Substandard assets are those which are not appraised as worthless but are considered by examiners to be hazardous and therefore undesirable for banks to hold. They include the appraised values of bonds below the fourth high rating by a recognized service, or its equivalent, of stocks, of defaulted securities, of other bonds not rated but considered by examiners to be hazardous, of hazardous loans, of banking house, furniture, and fixtures, and of other real estate. 52 FEDERAL DEPOSIT INSURANCE CORPORATION the insured commercial banks not members of the Federal Reserve System for which the Corporation has detailed information the ratio of total capital account to total deposits and to total assets tends to be higher in the small banks than in the large banks. This tendency appears to be present also in the banks members of the Federal Reserve System. Most of the large insured banks are members of the Federal Reserve System and the percent of deposits in banks with low capital ratios is greater for national and State banks members of the Federal Reserve System than for insured banks not members of the Federal Reserve System. Figures for all insured commercial banks as of December 31, 1935, are shown in Table 25. The table shows that 9 percent of all insured commercial banks reported total capital accounts equal to less than 10 percent of total deposits, but that these banks held more than 25 percent of the deposits of all insured commercial banks. Approximately 39 percent of the banks reported total capital accounts equal to 20 percent or more of total deposits, but these banks held only 11 percent of the deposits of all insured commercial banks. T ab le 25. PERCENTAGE DISTRIBUTION OF NUMBER AND DEPOSITS OF O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s A cc or d in g to R a t io of T o t a l C a p it a l A c c o u n t to T o ta l D e p o s it s , D e c e m b e r 31, 1935 Number of banks Deposits 100% 100% B an k s w ith ra tio o f to ta l ca p ita l a c c o u n t to t o ta l d ep o sits o f — Less than 5 percent.............................................................................................. 6 to 10 percent....................................................................................................... 10 to 15 percent..................................................................................................... O 9 28 8 15 to 20 percent..................................................................................................... 20 percent or m ore............................................................................................... 24 39 20 11 A ll b a n k s .................................................................................................................... 44 10.1 percent. 30.4 percent. N O TE : Based upon figures taken from condition reports submitted as of December 31, 1935. More detailed figures relating to capital accounts of insured commercial banks not members of the Federal Reserve System will be found in Tables 26-8, pages 53-55; Table 122, pages 150-51; and Table 142, pages 188-89. Sound capital of operating insured commercial banks not members of the Federal Reserve System, The sound capital of a bank gives a truer picture of the margin of protection afforded depositors and the Federal Deposit Insurance Corporation than does the total capital account. Sound capital is obtained by deducting from total capital account the book value of assets appraised by examiners as worthless or of doubtful worth and adding the deter minable sound banking value of assets not shown on the books of the banks. Data regarding sound capital have been compiled only for those banks which are examined by the Federal Deposit Insurance Corporation. At the time of examinations in 1936 the sound capital of 7,555 operating insured commercial banks not members of the Federal 53 CAPITAL OF OPERATING INSURED COMMERCIAL BANKS Reserve System amounted to $984 million, or 91 percent of total capital account. The corresponding figure at time of examinations in 1935 was 77 percent; at the time of examinations in 1934, 67 percent; and at the time of examinations for admission to insurance in 1933 and early 1934, 45 percent. The change during 1936 reflected chiefly the increases in appraised values of assets. The improvement since the beginning of deposit insurance reflected in part recovery in values and in part the re habilitation program described in the Annual Report of the Federal Deposit Insurance Corporation for the year ending December SI, 193UAt the time of examinations in 1936 the sound capital of insured commercial banks not members of the Federal Reserve System amounted to 14.4 percent of the appraised value of assets and to 17.1 percent of deposits. Both these figures were slightly larger than the corresponding figures at the time of examinations in 1935. Small banks tend to have higher ratios of sound capital to appraised value of assets and to deposits than do large banks. These ratios and also the ratios of sound capital to total capital account at the time of examinations in 1933,1934,1935 and 1936, and for banks grouped by amount of deposits in 1936, are shown in Table 26. Tab le 26. to D R A T IO OF SOUND C APITA L TO APPRA ISED V A L U E OF ASSETS, e p o s it s , a n d t o of E T otal C a p it a l A x a m in a t io n ccou nt, as of D ate , 1933-1936 OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM Ratio, in percent, of sound capital to— Appraised value of assets Deposits Total capital account A ll ban k s as o f d a te o f e xa m in a tion in — 45.1 67.2 76.5 1933....................................................................................................... 1934....................................................................................................... 1935....................................................................................................... 1936: A ll b a n k s ......................................................................................... B anks w ith d ep osits o f— $100,000 and under......................................................................... $100,000 to $250,000...................................................................... $250,000 to $500,000...................................................................... 14.4 17.1 90.9 23.8 17.3 14.5 31.6 21.2 17.1 85.8 92.7 95.2 $500,000 to $1,000,000................................................................... $1,000,000 to $2,000,000............................................................. $2,000,000 to $5,000,000............................................................... 14.1 14.0 14.1 16.6 16.6 16.6 94.5 90.6 89.3 $5,000,000 to $10,000,000............................................................. $10,000,000 to $50,000,000........................................................... Over $50,000,000............................................................................. 14.2 14.1 12.6 17.3 16.9 14.6 87.5 86.2 97.1 9.6 13.5 14.0 11.2 15.8 16.6 N O T E : More detailed figures will be found in Table 122, pages 150-51. The improvement in the sound capital position of operating insured commercial banks not members of the Federal Reserve System is also 54 FEDERAL DEPOSIT INSURANCE CORPORATION revealed by Table 27. The Table shows for successive examinations the distribution of banks according to the ratio of sound capital to total deposits. The proportion of banks without sound capital was much smaller at the time of examinations in 1936 than at the previous examinations. The proportion of banks with a ratio of sound capital to deposits of less than 10 percent was lower and the proportion with a ratio of 10 percent or more was higher in 1936 than in the earlier years. T ab le 27. to R PERCENTAGE DISTRIBUTION OF NUMBER OF BANKS ACCORDING a t io o f S o u n d C a p it a l to D e p o s it s a s o f D ate of E x a m in a t io n , 1933— 1936 OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM A ll b a n k s ................................................................. B an ks w ith o u t s o u n d c a p it a l .................... 1936 1935 1934 1933 100.0% 100.0% 100.0% 100.0% .3 .5 .6 10.0 .9 10.0 88.8 1.6 10.9 87.0 1.9 10.5 87.0 9.6 14.9 65.5 B an k s w ith r a tio o f s o u n d c a p ita l to d e p o sits o f — 0 to 5 percent.............................................. 5 to 10 percent............................................ 10 percent or m ore..................................... In 1936 nearly nine-tenths of the banks had a sound capital equal to 10 percent or more of deposits. About one-fifth of the banks had a sound capital equal to 25 percent or more of deposits. These banks were generally small banks, however, and held only 13 percent of the deposits of all insured commercial banks not members of the Federal Reserve System. The banks with sound capital equal to less than 10 percent of deposits, comprising 11 percent of all the banks, held about 17 percent of the deposits. The figures are shown in Table 28. Capital supplied by the Reconstruction Finance Corpora tion. During 1936 the amount of capital obligations of insured commercial banks held by the Reconstruction Finance Corporation decreased by $224 million, or 26 percent. At the end of the year the bank capital supplied to insured commercial banks by that Corporation was 10 percent of the total capital account of all insured commercial banks, as compared with 14 percent at the end of 1935. Approximately one-fifth of the total par value of capital stock, notes, and debentures of insured commercial banks on December 31, 1936, was held by the Reconstruction Finance Corporation. At the close of 1936 the Reconstruction Finance Corporation held capital obligations of about two-fifths of the insured commercial banks not members of the Federal Reserve System, and of about one-third of those which were members of the Federal Reserve System. Figures showing by States holdings of the capital obligations of EARNINGS OF OPERATING INSURED COMMERCIAL BANKS 55 insured commercial banks by the Reconstruction Finance Corporation are given in Tables 126 and 127, pages 162 and 163. T ab le 28. PERCENTAG E D IS TR IB U TIO N OF N U M B E R AND D E P O SIT S OF B A N K S A c c o r d in g t o R a t io of S o u n d C a p it a l to D e p o s it s a s of D a t e o f E x a m in a t io n in 1936 OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM Number of banks A ll b a n k s .................................................................................................................... Deposits 100.0% 100.0% .3 .3 0 to 5 percent................................................................................................. 5 to 10 percent.............................................................................................. 10 to 15 percent............................................................................................ .9 10.0 27.5 1.2 15.5 35.7 15 to 20 percent............................................................................................ 20 to 25 percent............................................................................................ 25 percent or m o re ....................................................................................... 23.5 15.7 22.1 22.2 12.2 12.9 B an k s w it h o u t s o u n d c a p i t a l ....................................................................... B an k s w ith ra tio o f s o u n d ca p ita l to d ep o sits o f — N O T E . The percentages in this table relate only to insured banks not members of the Federal Reserve System. Inclusion of figures for national and State banks members of the Federal Reserve System would increase the proportion of deposits in banks with capital ratios of less than 10 percent and reduce the proportion of deposits in banks with high capital ratios, due in considerable part to inclusion of large banks with low capital ratios. See also Table 25. E a r n in g s of O p e r a t in g Insured C o m m e r c ia l B a n k s Reports of earnings, expenses, and disposition of profits of all national banks and of all State banks in the District of Columbia are submitted by these banks to the Comptroller of the Currency. Re ports of State banks members of the Federal Reserve System are submitted to the Federal Reserve banks and the Board of Governors of the Federal Reserve System. Reports of insured banks not mem bers of the Federal Reserve System, other than insured national banks in the possessions and banks in the District of Columbia, are submit ted to the Federal Deposit Insurance Corporation. Current operating earnings. Gross earnings from current operations of all insured commercial banks during 1936 amounted to $1,564 million, an increase of $81 million, or 5 percent, over 1935. The percentage increase in earnings was approximately one-half that in earning assets. Current operating expenses, amounting to $1,083 million in 1936, were 4 percent larger than in the previous year. Net current operating earnings in 1936 amounted to $481 million. This is an increase of 9 percent over 1935. Net current operating earnings in 1936 were equivalent to $0.90 for each $100 of total assets, as compared with $0.92 in 1935. Net current operating earnings were equivalent to 7 2/3 percent on total capital account, which is also slightly higher than in 1935. Table 29 shows earnings, expenses, and disposition of profits of all insured commercial banks in 1934, 1935 and 1936. Table 30 shows for 1936 earnings, expenses, and disposition of profits of these 56 FEDERAL DEPOSIT INSURANCE CORPORATION banks in amounts and in relation to their assets and total capital account. T ab le 29. E ARN IN G S, E x p e n s e s , AND DISPOSITION OF PROFITS OF O p e r a t i n g I n s u r e d C o m m e r c i a l B a n k s , 1934, 1935 a n d 1936 (Amounts in millions of dollars) 1935 1936 1934 Gross current operating earnings.......................................................... Total current operating expenses......................................................... 1,564 1,083 1,483 1,041 N et cu rren t op era tin g e a rn in g s .............................................. 481 442 448 Profits on assets sold, recoveries, etc.................................................. Losses, charge-offs, etc........................................................................... 584 540 432 667 292 1,079 >-339 N et p rofits1 ................................................................................... 523 207 Cash dividends declared and interest paid on capital...................... 223 207 N et p rofits a fte r d iv id en d s...................................................... 300 1,515 1,067 188 *-527 1After income taxes, which are included under total current operating expenses except for banks not members of the Federal Reserve System in 1936. Income taxes of $‘2,442,000 were paid by these banks. aNet loss N O T E : More detailed figures will be found in Table 128, page 164. Net profits. Net profits in 1936, after allowing for losses and depreciation written off, recoveries on assets previously written off. and profits on securities sold, amounted to $523 million—equivalent to 8 1/3 percent on total capital account—or more than net current operating earnings. Net profits were more than two and one-half times as large in 1936 as in 1935, when they amounted to $207 million, This increase in net profits was due to substantially smaller loss and depreciation charges on assets in 1936 as compared with 1935, and substantially larger profits on securities sold and recoveries from assets previously charged off. T ab le 30. T h e ir EARN IN G S, E XPE N SE S, AND DISPOSITION OF PROFITS, AND R e l a t io n t o T o t a l A ss e t s a n d to T o t a l C a p it a l A c c o u n t o f 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 , 1936 Amounts in millions of dollars Amounts per $100 of— Total assets1 Total capital account1 1,564 1,083 $2.92 2.02 $24.94 17.27 481 $0.90 $ 7.67 584 540 1.09 1.01 9.32 8.61 N et p rofits2................................................................................. 523 $0.98 $ 8.34 Cash dividends declared and interest paid on capital........................ 223 .42 3.55 300 $0.56 $ 4.79 Gross current operating earnings.......................................................... Total current operating expenses.......................................................... N et cu rren t op era tin g e a rn in g s ......................................... Profits on assets sold, recoveries, etc.................................................... Losses, charge-offs, etc........................................................................... N et profits a fter d ivid en d s.................................................... Averages of call date figures. 5After income taxes, which are included under total current operating expenses except for banks not members of the Federal Reserve System. Income taxes of $2,442,000 were paid by these banks. N O T E : More detailed figures will be found in Tables 128-29, pages 164-65. EARNINGS OF OPERATING INSURED COMMERCIAL BANKS 57 Approximately 43 percent of the net profits, or $223 million, were paid out in cash dividends and in interest on capital notes and deben tures. Interest paid and dividends declared were equivalent to 3 ^ percent of total capital account, and to 7 percent of the par value of capital stock, notes, and debentures, slightly higher rates than in 1935. The balance of the net profits, amounting to $300 million, was retained by the banks. In 1935 total cash dividends declared and interest paid on capital notes and debentures were equal to net profits. Net current operating earnings of insured commercial banks not members of the Federal Reserve System. Detailed figures regarding earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System group ed according to rate of net earnings, rate of net profits, size of bank, population of center in which located, and according to number of commercial banking offices in center, are presented in Tables 131-42, pages 168-89. T ab le 31. DISTRIBUTION OF NUMBER AND DEPOSITS OF BANKS A cc or d in g to A m o u n t of N e t E a r n in g s or D e f ic it s P e r $100 of T o ta l A s s e t s , 1936 in s u r e d c o m m er c ia l b a n k s 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 o p e r a t in g t h r o u g h o u t e n t ir e y e a r Deposits (In millions of dollars) Number of banks Number Percent Amount Percent A l l b a n k s ................................................................. 7,460 100.0 5,694 100.0 B a n k s w ith n e t d eficits o f— 1 Over $0.50............................................................ $0.50 or less......................................................... 41 166 .5 2.2 13 87 .2 1.5 B an k s w ith n e t ea rn in g s o f — 1 $0.50 or le s s ............................................................... $0.51 to $1.00...................................................... $1.01 to $1.50...................................................... 893 1,865 2,146 12.0 25.0 28.8 707 1,601 1,969 12.4 28.1 34.6 $1.51 $2.01 $2.51 $3.01 1,293 596 250 210 17.3 8.0 3.4 2.8 807 329 120 61 14.2 5.8 2.1 1.1 to $2.00...................................................... to $2.50...................................................... to $3.00...................................................... and o v e r ..................................................... 2Net deficits or net earnings per $100 of monthly average total assets. N O TE : More detailed figures will be found in Tables 138-40, pages 182-86, and Table 142, pages 188-89. Of the 7,460 insured commercial banks not members of the Federal Reserve System which reported to the Federal Deposit Insurance Corporation and operated throughout the year, 207, or 3 percent, showed net current operating deficits before allowing for profits on assets sold, recoveries, and depreciation and charge-offs. This was a much smaller number than reported operating deficits in 1935. The banks which showed net deficits held less than 2 percent of the deposits of insured commercial banks not members of the Federal Reserve System. Approximately 37 percent of the banks showed net current operating earnings of not more than one dollar for each $100 of total assets; 46 percent showed net earnings of from $1.01 to $2.00 and 14 percent showed net earnings of more than $2.00 for each $100 of total assets. The figures are shown in Table 31. 58 FEDERAL DEPOSIT INSURANCE CORPORATION On the average the small banks reported higher net earnings on each $100 of total assets than did the large banks. However, the small banks showed greater variability than did the large banks in the rate of net current operating earnings. Net profits of insured commercial banks not members of the Federal Reserve System. Of the 7,460 insured commercial banks not members of the Federal Reserve System whose reports were analyzed in detail, 1,046, or 14 percent, reported net losses, and 6,414, or 86 percent, reported net profits after recoveries, charge-offs and taxes. Table 32 shows the distribution of the banks according to the amount of net profits or losses on each $100 of total assets. T ab le 32. DISTRIBUTION OF BANKS ACCORDING TO AMOUNT OF NET P r o f it s or L o sses P e r $100 of T o t a l A ss e t s , 1936 INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM OPERATING THROUGHOUT ENTIRE YEAR Number of banks Percent A ll b a n k s .................................................................................................................... 7,460 100.0 B an k s w ith n e t losses o f — 1 Over $3.00............................................................................................................... $3.00 to $2.01......................................................................................................... $2.00 to $ 1.01........................................................................................................ $1.00 or less............................................................................................................ 114 77 169 686 1.5 1.0 2.3 9.2 B an k s w ith n e t p rofits o f — 1 $1.00 or less............................................................................................................ $1.01 to $2.0 0 ........................................................................................................ $2.01 and o v e r....................................................................................................... 3,044 2,343 1,027 40.8 31.4 13.8 *Net losses or net profits per $100 of m onthly average total assets. N O T E : More detailed figures will be found in Tables 141-42, pages 187-89. In general the banks with high rates of net current operating earnings showed high rates of net profits after recoveries and chargeoffs and banks with low rates of net earnings or with net current operating deficits showed low rates of net profits or showed net losses. However, of the 7,253 banks showing net current operat ing earnings, 936, or 13 percent, showed net losses after recoveries and charge-offs. Of the 207 banks showing net current operating deficits 97, or 47 percent, showed net profits after recoveries and charge-offs, and 110, or 53 percent, showed net losses. The figures are presented in Table 33. Approximately 3,500 of the banks reported net profits that were smaller than net current operating earnings. The smaller net profits reflected the fact that the amount of worthless assets charged off was greater than the amount of re coveries on assets previously charged off and profits on other assets, chiefly securities, sold. Approximately 2,000 banks reported net profits that were greater than net current operating earnings and approximately 2,000 banks reported net profits that were about the same as net current operating earnings. In considering the figures of earnings, expenses, and disposition of profits of banks for a single year, or a few years, the figures of net 59 EARNINGS OF OPERATING INSURED COMMERCIAL BANKS current operating earnings are more significant than those of net profits, because they indicate the extent to which a bank is able to earn enough to cover its expenses. Net profits, on the other hand, may reflect numerous conflicting factors in any one year. In one bank net losses may reflect a conservative policy of charging off all losses promptly and of refraining from trading in securities for the purpose of obtaining a profit in the market. In another bank net profits may reflect the failure to charge off losses and the realization of market profits from trading in securities. A number of banks obtained substantial profits in 1936 through trading in securities. T ab le 33. DISTRIBUTION OF N u m b e r OF BANKS ACCORDING TO RATE OF NET E a r n in g s a n d P r o f it s , 1936 INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM OPERATING THROUGHOUT ENTIRE YEAR Banks with net earnings of—_i All banks Banks with net deficits $1.00 or less $1.01 to 2.00 $3.01 and over $2.01 to 3.00 A ll b a n k s .......... ......................... 7,460 207 2,758 3,439 846 210 B an ks w ith n e t losses o f— i Over $2.00.............................. $2.00 to $1.01......................... $1.00 or less............................ 191 169 686 20 17 73 101 81 326 58 56 226 9 14 48 3 1 13 B an ks w ith n e t p rofits o f— 1 $1.00 or less............................ $1.01 to $2.00........................ $2.01 and o v e r ....................... 3,044 2,343 1,027 76 17 4 1,577 534 139 1,201 1,447 451 166 308 301 24 37 132 xNet earnings, net losses or net profits per $100 of monthly average total assets. N O TE : More detailed figures will be found in Table 142, pages 188-89. Interest received and paid. Interest received on loans averaged 6 percent in 1936 compared with 5% percent in 1935. There was practically no change in the average rate of interest and dividends received on securities, the figure being approximately V/% percent in both years. Rates of interest paid on time deposits averaged lower in 1936 than in 1935. The figures are shown in Table 34. T ab le 34. INTEREST RECEIVED ON LOANS AND ON SECURITIES AND P a id o n T im e D e p o s its D u r in g 1934, 1935 a n d 19361 INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM OPERATING THROUGHOUT ENTIRE YEAR 1936 Interest received per $100 of loans..................................................... Interest and dividends received per $100 of securities.................... Interest paid per $100 of time deposits............................................. $5.96 3.55 2.09 1935 $5.75 3.51 2.28 1934 $5.90 3.77 2.77 *For 1934 and 1935 asset and liability items are averages of call date figures; for 1936, averages of endof-month figures. N OTE: More detailed figures for 1936 will be found in Tables 131-39, pages 168-85. 60 FEDERAL DEPOSIT INSURANCE CORPORATION Insured M utual S a v in g s B anks Assets and capital of insured m utual savings banks. Total assets of the 56 insured mutual savings banks increased during the year from $1,108 million to $1,132 million, or by 2 percent. Holdings of real estate mortgages, which constitute about two-fifths of the assets of these banks, and also holdings of securities other than obligations of the United States Government, decreased. Holdings of United States Government obligations increased. Mutual savings banks have no capital stock, but they maintain surplus and reserve accounts, consisting chiefly of undistributed earnings. The total capital account of insured mutual savings banks increased by about $6 million, or 5 percent, during 1936, the funds be ing derived from net profits for the year. These banks also retired $1 million of their capital notes and debentures held by the Recon struction Finance Corporation. Total capital account of the insured mutual savings banks at the close of 1936 was equal to 12 percent of total assets and 13 percent of deposits, slightly higher proportions than in insured commercial banks. The Reconstruction Finance Corporation held capital notes and debentures of 25 of the banks amounting to $13 million, or 10 percent of the total capital account of all insured mutual savings banks. Table 115, page 135, gives comparative condensed balance sheets of the insured and noninsured mutual savings banks at the beginning and close of 1936. T ab le 35. E a r n in g s , E x p e n s e s , a n d D is p o s it io n o f P r o f i t s o f t h e 56 M u t u a l S a v i n 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 i t I n s u r a n c e C o r p o r a t i o n , 1935 a n d 1936 (Amounts in millions of dollars) 1935 1936 Interest received on real estate mortgages................................................................ Interest and dividends received on securities........................................................... Other current operating earnings................................................................................ 18.7 16.6 6.1 20.1 17.2 5.4 G ross cu rren t op era tin g e a r n in g s ............................................................ 41.4 42.7 Current operating expenses (excluding interest and dividends paid depositors).. 14.4 13.1 N et cu rre n t op era tin g e a rn in g s ................................................................ 27.0 29.6 Profits on assets sold, recoveries, etc......................................................................... Losses, charge-offs, e tc................................................................................................. 11.7 11.4 7.0 8.6 N et profits available fo r d istrib u tio n to d ep ositors and fo r . a d d itio n to ca p ita l f u n d s ....................................................................... 27.3 28.0 Interest and dividends paid depositors...................................................................... Interest on and retirement of capital notes and debentures................................... 19.6 1.5 22.1 N et profits added to ca p ita l f u n d s ........................................................... 6.2 5.9 Earnings, expenses, and disposition of profits of insured m utual savings banks. Gross current operating earnings of the 56 insured mutual savings banks amounted to $41 million in 1936, or INSURED MUTUAL SAVINGS BANKS 61 3 percent less than in 1935. Somewhat less than half of the earnings was interest on real estate mortgages, on which the average rate of return was 4.0 percent as compared with 4.2 percent in 1935 and 4.4 percent in 1934. Interest and dividends on securities showed an average rate of return of 3.4 percent in comparison with 3.7 percent in 1935 and 3.9 percent in 1934. Current operating expenses, excluding interest and dividends to depositors, were somewhat higher than in 1935, so that net current operating earnings which amounted to $27 million in 1936 were 9 percent less than in 1935. Recoveries from assets previously written off and profits on securities sold were approximately equal to losses and depreciation charged off, and net profits available for distribution to depositors and for addition to capital funds also amounted to $27 million. About $20 million, or 72 percent of the net profits, were used to pay interest and dividends to depositors, equivalent to 2.0 percent on all deposits held. Interest and dividend payments in 1935 amounted to 2.3 percent on deposits. Of the remaining profits, $1 million were used to retire capital notes and debentures held by the Reconstruction Finance Corporation and $6 million were added to capital funds. The earnings and expenses of the insured mutual savings bank in 1935 and in 1936 are given in Table 35. PART THREE DEPOSITS OF INSURED BANKS AS OF M AY 13, 1936 D e p o s it s of Insured B a n k s as of M ay 13, 1936 The Federal Deposit Insurance Corporation called upon insured banks to submit a special statement of their deposits as of May 13, 1936. The Corporation desired (1) to estimate its contingent liabilities as an insurer of bank deposits, and to measure the way in which those liabilities are distributed geographically and among the different classes and sizes of banks, (2) to determine the extent to which various types of depositors are protected by Federal insurance of deposits or by pledge of security or by legal preferment, (3) to obtain more information than has hitherto been available regarding the types of deposits held by banks, and (4) to ascertain how the distribution of deposits had shifted since May 13, 1933, and since October 1, 1934, dates for which similar data are available. The insured banks were requested to report the total number of accounts, the total amount of deposits, the number of accounts and amount of deposits in accounts with balances of more than $5,000 each, and the number of accounts and amount of deposits in accounts with balances of $5,000 or less each for the following types of deposits: 1. 2. 3. 4. 5. 6. U. S. Government and postal savings deposits; Public funds of States and their political subdivisions; Uninvested trust funds; Deposits of banks; Outstanding drafts; Demand deposits of individuals, partnerships, and corporations (exclusive of uninvested trust funds); 7. Savings deposits and time deposits of individuals, partnerships, and corporations (exclusive of uninvested trust funds); 8. Other deposits. The analysis did not give the number of depositors fully protected or the volume of deposits actually covered by insurance. The law specifies that in determining the insured portion of a balance due a depositor in a bank insured by the Federal Deposit Insurance Cor poration all balances standing to the credit of the depositor in the same right and capacity in that bank shall be combined. If a de positor were to hold three accounts with balances of $1,000, $3,000 and $4,000, respectively, in the same right and capacity in a given bank, $5,000 of his deposit would be insured and the remaining $3,000 would not be protected by insurance but only by a general claim against the assets of the bank. !The form used, Form 89, Summary of Deposits at Close o f Business M ay IS, 1936, and in structions for the preparation of the form are given on pages 93 and 94 of this report. A pamphlet en titled Insurance of Deposits, summarizing the results of the tabulations made from these reports, was published in November 1936. 65 66 FEDERAL DEPOSIT INSURANCE CORPORATION In preparing the analysis of deposits the banks were instructed to report on the basis of accounts, without combining accounts standing to the credit of a depositor in the same right and capacity, in order to lessen their burden of work. Other studies made by the Corporation indicate that although there are substantial differences among banks, on the average the number of accounts in a given bank is about 10 percent greater than the number of depositors.. It is also estimated that the percent of total deposits insured is about one point less than the percent of total deposits in accounts of not more than $5,000 each and in the first $5,000 of accounts in excess of that amount. For convenience and brevity the terms “ insured deposits” , “ de posits covered by insurance” , “ deposits protected by insurance” , and “ deposits eligible for insurance” are used hereafter in connection with the figures for May 13, 1936, to designate the deposits in accounts of not more than $5,000 each and the first $5,000 of deposits in accounts with balances in excess of that amount. As a consequence the amount of insured deposits in all insured banks combined given for May 13, 1936, is estimated to be about 2 percent too high and the percentage insured about one point too high. Deposits insured by the Corporation. The total amount of deposits insured by the Corporation on May 13, 1936, is estimated to have been about $20.5 billion. Of this amount about $19.6 billion were in the 14,092 insured commercial banks, and slightly under $1 billion were in the 56 insured mutual savings banks.1 Total deposits in the insured commercial banks amounted to more than $45 billion held in over 57 million accounts. Total deposits in the 56 mutual savings banks amounted to $980 million held in nearly 1.4 million accounts. Approximately 43 percent of the deposits in in sured commercial banks and 89 percent of the deposits in insured mutual savings banks were estimated to be insured. T ab le 36. ACCOUNTS IN INSURED COMMERCIAL BANKS, M AY 13, 1936 BANKS GROUPED BY AMOUNT OF DEPOSITS Number of banks Number of accounts (in thousands) Total Over $5,000 $5,000 or less Average size of account A ll b a n k s ................................................................................ 14,085 57,398 922 56,476 $ 787 B an k s w ith d ep osits o f — $100,000 and under........................................................... $100,000 to $250,000........................................................ $250,000 to $500,000........................................................ 917 3,028 3,300 401 2,279 4,245 1 9 25 400 2,270 4,220 160 231 280 $500,000 to $1,000,000..................................................... $1,000,000 to $2,000,000................................................. $2,000,000 to $5,000,000................................................. 2,751 1,926 1,282 6,058 7,343 9,054 46 73 108 6,012 7,270 8,946 322 368 429 $5,000,000 to $10,000,000............................................... $10,000,000 to $50,000,000............................................. Over $50,000,000............................................................... 441 331 109 5,723 8,795 13,500 87 170 403 5,636 8,625 13,097 539 784 1,844 1The tables presented in this section show figures for 14,085 insured commercial banks; reports for 7 small banks were not available for tabulation. 67 DEPOSITS OF INSURED BANKS Insured deposits in commercial banks grouped by size. Accounts in small banks were generally of smaller size and therefore more fully protected by insurance than were accounts in large banks. Deposits in banks with deposits of not more than $100,000 each averaged $160 per account. Deposits in banks with deposits of over $50,000,000 each averaged $1,844 per account. More detailed figures are shown in Table 36. In the 11,922 banks with deposits of not more than $2,000,000 each, 99 percent of the accounts were not in excess of $5,000 and 82 percent of the deposits were insured. In the 2,054 banks with deposits of $2,000,000 to $50,000,000 each 98 percent of the accounts were not in excess of $5,000 and 57 percent of the deposits were in sured. In the 109 banks with deposits of more than $50,000,000 each, 97 percent of the accounts were not in excess of $5,000 and 25 percent of the deposits were insured. T ab le 37. DEPOSITS OF INSURED COMMERCIAL BANKS, M AY 13, 1936 BANKS GROUPED BY AMOUNT OF DEPOSITS Deposits (in millions of dollars) Total In In accounts accounts of of over $5,000 $5,000 or less Insured Percent insured All b a n k s ................................................................................ 45,188 30,220 14,968 19,578 43 B an ks w ith d e p o sits o f — $100,000 and under........................................................... $100,000 to $250,000........................................................ $250,000 to $500,000........................................................ 64 527 1,190 7 99 285 57 428 905 61 476 1,029 95 90 86 $500,000 to $1,000,000.................................................... $1,000,000 to $2,000,000................................................. $2,000,000 to $5,000,000................................................. 1,950 2,703 3,880 577 960 1,617 1,373 1,743 2,263 1,602 2,111 2,800 82 78 72 $5,000,000 to $10,000,000............................................... $10,000,000 to $50,000,000............................................ Over $50,000,000............................................................... 3,086 6,894 24,894 1,544 4,506 20,625 1,542 2,388 4,269 1,976 3,239 6,284 64 47 25 Although a larger proportion of deposits in small banks than in large banks is insured, the volume of insured deposits is concentrated in the large banks. One-third of the insured deposits on May 13, 1936, was in the 109 banks with total deposits in excess of $50,000,000 each. Insured deposits in these banks amounted to about $6 billion. Approximately one-fourth of the insured deposits, $5 billion, was in the 772 banks with deposits of between $5,000,000 and $50,000,000 each. Another one-fourth was in the 3,208 banks with deposits of between $1,000,000 and $5,000,000 each. In the 9,996 banks with deposits of not more than $1,000,000 each, constituting more than twothirds of all the insured banks, insured deposits amounted to about $3 billion or approximately one-sixth of the deposits insured by the Corporation. The figures are shown in Table 37. 68 FEDERAL DEPOSIT INSURANCE CORPORATION T ab le 38. ACCOUNTS IN INSURED COMMERCIAL BANKS, M AY 13, 1936 BANKS GROUPED BY CLASS AND BY STATES I Number I of banks Number of accounts (in thousands) T otal Over $5,000 $5,000 or less Average size of account U n ited S ta tes a n d p ossession s— t o t a l ....................... 14,085 57,398 922 56,476 $ 787 U n ited S ta t e s ................................................................... 14,081 4 57,386 12 922 56,464 12 787 417 C lass o f b a n k National banks members F . R . System ....................... State banks members F . R . System ............................. Banks not members F . R . S ystem ................................ 5,367 1,014 7,704 30,590 11,271 15,537 520 253 149 30,070 11,018 15,388 830 1,233 380 S ta te A labam a............................................................................... A rizon a................................................................................. Arkansas.............................................................................. C alifornia............................................................................. C olorad o............................................................................... 207 15 213 239 139 754 102 351 4,571 456 7 2 4 97 6 747 100 347 4,474 450 321 716 422 817 651 C onnecticut......................................................................... Delaware.............................................................................. District of Colum bia......................................................... Florida.................................................................................. G eorgia................................................................................. 105 44 22 149 261 669 135 559 525 871 11 3 8 8 9 658 132 551 517 862 700 919 580 608 449 Id ah o..................................................................................... Illin ois.................................................................................. Indiana................................................................................. Iow a ...................................................................................... Kansas.................................................................................. 57 863 496 585 463 142 3,706 1,367 1,096 745 2 69 16 12 8 140 3,637 1,351 1,084 737 528 989 526 502 436 K en tu ck y............................................................................. Louisiana............................................................................. M aine................................................................................... M aryland............................................................................. M assachusetts.................................................................... 389 148 61 184 198 989 692 420 840 1,630 10 9 5 12 38 979 683 415 828 1,592 406 561 429 627 1,110 M ichigan.............................................................................. M innesota............................................................................ Mississippi............................................................................ M issouri............................................................................... M ontana.............................................................................. 446 649 196 635 120 1,891 1,422 398 1,829 197 26 16 4 29 3 1,865 1,406 394 1,800 194 650 559 379 722 629 Nebraska.............................................................................. N evad a................................................................................. New Hampshire.................................................................. New Jersey.......................................................................... New M ex ico........................................................................ 377 9 56 388 40 568 38 170 3,223 89 7 1 2 41 1 561 37 168 3,182 88 548 711 435 479 528 New Y o r k ............................................................................ North Carolina........................................... ....................... North D a k ota ..................................................................... Oklahom a............................................................................ 765 234 192 692 385 6,191 720 199 3,520 788 187 8 2 45 9 6,004 712 197 3,475 779 2,112 499 357 561 525 Oregon.................................................................................. Pennsylvania....................................................................... Rhode Island...................................................................... South Carolina.................................................................... South D akota...................................................................... 90 1,084 16 111 196 478 6,198 403 281 229 6 92 7 4 2 472 6,106 396 277 227 536 706 571 438 371 Tennessee............................................................................. Texas..................................................................................... U ta h ...................................................................................... V erm ont............................................................................... V irginia................................................................................. 307 808 59 76 323 930 2,073 239 260 1,274 10 29 3 3 16 920 2,044 236 257 1,258 469 562 615 388 403 W ashington......................................................................... West Virginia...................................................................... W isconsin................................................................ ............ W yom in g.............................................................................. 172 172 586 59 596 851 1,588 123 9 6 16 2 587 845 1,572 121 646 303 487 472 69 DEPOSITS OF INSURED BANKS T ab le 39. DEPOSITS OF INSURED COMMERCIAL BANKS, M AY 13, 1936 BANKS GROUPED BY CLASS AND BY STATES Deposits (in millions of dollars) Total In In accounts accounts of of over $5,000 or less $5,000 Percent insured Insured U n ited S ta tes a n d p ossession s— t o t a l ....................... 45,188 30,220 14,968 19,578 43 U n ited S ta t e s .................................................................. P o s s e s s io n s ...................................................................... 45,183 5 30,218 2 14,965 3 19,574 4 43 73 C lass o f b an k National banks members F. R . System ...................... State banks members F. R. System ............................. Banks not members F. R . S ystem ................................ 25,394 13,897 5,897 17,369 10,635 2,216 8,025 3,262 3,681 10,626 4,526 4,426 41 32 75 S ta te Alabam a.............................................................................. A rizona................................................................................ Arkansas.............................................................................. California............................................................................ C olorado.............................................................................. 242 73 148 3,733 297 129 39 75 2,255 169 113 34 73 1,478 128 145 44 93 1,964 161 59 60 63 52 54 C onnecticut........................................................................ Delaware............................................................................. District of Colum bia.................................................... F lorida................................................................................. G eorgia................................................................................ 468 124 324 319 391 269 77 193 200 243 199 47 131 119 148 254 63 172 160 194 54 50 53 50 49 Id a h o.................................................................................... Illinois.................................................................................. Indiana................................................................................ Io w a ..................................................................................... Kansas................................................................................. 75 3,665 719 550 325 33 2,607 377 244 160 42 1,058 342 306 165 52 1,402 420 367 203 69 38 58 66 62 K en tu ck y............................................................................ Louisiana............................................................................. M aine................................................................................... M aryland............................................................................. Massachusetts.................................................................... 402 388 180 527 1,810 190 253 73 338 1,291 212 135 107 189 519 261 179 132 250 708 64 46 73 47 39 M ichigan............................................................................. M innesota........................................................................... Mississippi........................................................................... M issouri............................................................................... M ontana.............................................................................. 1,230 795 151 1,320 124 696 414 64 903 60 534 381 87 417 64 666 463 109 560 81 54 58 71 42 64 Nebraska............................................................................. N evad a................................................................................. New Hampshire................................................................. New Jersey.......................................................................... New M exico........................................................................ 311 27 74 1,544 47 161 13 34 740 24 150 14 40 804 23 184 18 49 1,009 29 59 67 66 65 61 New Y o r k ............................................................................ North Carolina.................................................................. North D ak ota.................................................................... Ohio...................................................................................... Oklahoma............................................................................ 13,073 359 71 1,975 414 11,125 213 21 1,073 259 1,948 146 50 902 155 2,882 184 57 1,127 200 22 51 81 57 48 Oregon.................................................................................. Pennsylvania...................................................................... Rhode Island...................................................................... South Carolina................................................................... South D a k ota ..................................................................... 256 4,377 230 123 85 124 2,796 139 65 32 132 1,581 91 58 53 160 2,045 126 75 63 62 46 54 60 73 Tennessee............................................................................ Texas.................................................................................... U ta h ..................................................................................... V erm ont............................................................................... Virginia................................................................................ 436 1,165 147 101 513 258 733 87 28 257 178 432 60 73 256 230 577 77 86 336 52 49 52 85 65 W ashington......................................................................... West Virginia...................................................................... W isconsin............................................................................. W yom ing............................................................................. 385 258 774 58 214 113 330 27 171 145 444 31 217 177 525 38 56 68 67 66 70 FEDERAL DEPOSIT INSURANCE CORPORATION Insured deposits by class of bank and by States. National banks reported deposits amounting to $25 billion of which nearly $11 billion, or about 41 percent, were insured. These banks held more than half of the deposits insured by the Corporation. State banks members of the Federal Reserve System reported deposits amounting to $14 billion of which $4.5 billion or 32 percent were insured. These banks held slightly less than one-fourth of the deposits insured by the Corporation. Commercial banks not members of the Federal Re serve System reported deposits amounting to $6 billion of which $4 billion or 75 percent were insured. These banks also held slightly less than one-fourth of the deposits insured by the Corporation. The percent of total deposits insured in the various States ranged from 85 in Vermont to 22 in New York. The proportion of accounts with balances of not more than $5,000 each varied little from State to State. More than half of the deposits insured by the Corporation were in banks located in the following six States: California, Illinois, New Jersey, New York, Ohio and Pennsylvania. Total insured deposits in these States ranged from $1 billion to $3 billion each. The figures are presented in Tables 38 and 39. Insurance protection to depositors. In determining the in sured portion of a balance due a depositor in a bank insured by the Federal Deposit Insurance Corporation the law specifies that all balances standing to the credit of a depositor in the same right and capacity in a given bank shall be combined. A depositor may carry accounts in as many insured banks as he desires and receive protection up to a maximum of $5,000 in each bank. As a consequence, al though the maximum protection given to a single depositor is $5,000 in a given bank, any depositor may increase his protection by spread ing his deposits among insured banks. Some tendency to spread accounts among banks in order to secure increased insurance pro tection has been observed. T ab le 40. ACCOUNTS IN INSURED COMMERCIAL BANKS, M AY 13, 1936 GROUPED BY TYPE OF DEPOSIT Number of accounts (in thousands) T otal Over $5,000 $5,000 or less Average size of account T o ta l......................................................................................................... 57,398 922 56,476 $ 787 Deposits of individuals, partnerships, and corporations: D em and............................................................................................ Savings and tim e............................................................................ Interbank............................................................................................. Public funds of States and their political subdivisions............. U. S. Government and postal savings.......................................... Uninvested trust funds..................................................................... D rafts.................................................................................................... Other item s.......................................................................................... 22,106 32,568 93 244 14 516 469 1,393 416 332 66 49 5 26 10 18 21,690 32,231 27 195 9 490 459 1,375 893 386 67,903 13,770 83,214 2,229 678 419 71 DEPOSITS OF INSURED BANKS The amount of protection given by the Corporation varied widely among the types of deposits and depositors. The general public held $32 billion of deposits of which about 55 percent were insured. More than 95 percent of accounts in banks were of this type. Other de positors, consisting chiefly of banks, trust companies and governmental bodies, held deposits amounting to $13 billion, of which about 12 percent were insured. T ab le 41. DEPOSITS OF INSURED COMMERCIAL BANKS, M AY 13, 1936 GROUPED BY TYPE OF DEPOSIT Deposits (in millions of dollars) Total In In accounts accounts of of over $5,000 $5,000 or less Insured Percent insured T o ta l......................................................................................... 45,188 30,220 14,968 19,578 43 Deposits of individuals, partnerships, and cor porations: D em and....................................................................... Savings and tim e....................................................... Interbank............................................................................. Public funds of States and their political subdivisions U. S. Government and postal savings.......................... Uninvested trust funds..................................................... D rafts................................................................................... Other item s......................................................................... 19,737 12,559 6,315 3,360 1,165 1,150 318 584 14,195 3,867 6,268 3,182 1,154 937 203 414 5,542 8,692 47 178 11 213 115 170 7,620 10,351 379 422 37 343 167 259 38 82 6 12 3 30 52 44 Demand deposits of the general public (individuals, partnerships, and corporations) were in 22 million accounts of which more than 98 percent contained balances not exceeding $5,000 each, the maximum insurance for each depositor. The time deposits were in more than 32 million accounts of which 99 percent contained balances not exceeding $5,000 each. The demand deposits in all insured banks were 38 percent insured. In the 13,204 banks with deposits of $5,000,000 or less each, the publics demand deposits were 81 percent insured. In the 881 banks with deposits of over $5,000,000 each, the demand deposits were 28 percent insured. Savings and time deposits of individuals, partnerships, and corporations were 82 percent insured. Insurance coverage of the remaining deposits ranged from 3 percent for United States Government deposits to 52 percent for outstanding drafts. In general, a small proportion of the deposits of governmental bodies was protected by insurance. The figures are shown in Tables 40 and 41. Other protection to depositors. In addition to the protection given by insurance, deposits of governmental bodies and uninvested trust funds are covered to a considerable extent by pledge of security and by legal preferment over claims of other depositors and general creditors. Deposits of the United States Government, including postal savings funds in excess of amounts protected by insurance, are fully protected by pledge of security and by legal preference. 72 FEDERAL DEPOSIT INSURANCE CORPORATION On May 13, 1936, public funds of States and their political sub divisions in addition to being insured, were protected by the pledge of nearly $2 billion of assets. Some deposits were also protected by depository bonds written by private insurance companies. Unless protected by pledge of security most deposits of States are given a preferred position in the liquidation of banks placed in receivership. Deposits of political subdivisions of most States are not preferred. In all, it appears that about 75 percent of the public funds were pro tected by insurance, by pledge of security, or by legal preference. About $600 million of assets were pledged for the protection of uninvested trust funds. All national banks and numerous State banks pledge assets to secure all trust funds which are redeposited in their own commercial banking departments. In New York State, the banks of which held approximately one-third of the uninvested trust funds, and in some other States, such funds occupy a preferred status in case of the failure of a bank. It is estimated that considerably over one-half of the uninvested trust funds are protected by insurance, by pledge of security, or by legal preference. Number of accounts and of depositors. The total number of accounts reported by the insured commercial banks was 57 million. As previously stated, it is estimated that the number of accounts exceeds the number of depositors by about 10 percent. The number of depositors, as defined by law, in insured commercial banks, there fore, is estimated to have been about 52 million on May 13, 1936. Dormant accounts are included in the figure. In some banks almost one-half of the accounts are inactive. The number of individuals, partnerships, corporations, banks and governmental bodies in the United States who actually hold bank accounts is less than the number of “ depositors” given above. It is not possible, with the data available, to estimate the number of those who hold accounts. Chain stores and large corporations have ac counts in numerous banks, in some cases throughout the United States. The United States Government and the postal savings system hold more than 14,000 accounts, and the 15,000 banks in the country have more than 90,000 interbank accounts. Types of deposits held by banks. One of the purposes of the inquiry was to obtain better information than had hitherto been available regarding the character of the deposit structure of the insured banks. Except for insured banks not members of the Federal Reserve System, data had not previously been available regarding the relative importance of the types of deposits held by the different classes of insured banks grouped according to size. About 71 percent of the total deposits of insured commercial banks in the United States were deposits of the general public. Approxi mately 14 percent were interbank deposits; 10 percent were funds of the United States Government and agencies thereof, and of States and their political subdivisions; and approximately 5 percent con DEPOSITS OF INSURED BANKS 73 stituted trust funds, outstanding drafts, certified checks, and other miscellaneous items. Of the deposits of the general public, ap proximately three-fifths were demand deposits and two-fifths were time deposits. In all insured banks combined, there was a tendency for demand deposits of the general public to be less important and of time deposits to be more important in larger than in smaller banks up to banks with deposits of $2,000,000 to $5,000,000 each. Thereafter the tendency was reversed, the relative importance of demand deposits being more and of time deposits less in the larger banks. The figures are shown in Table 42. In banks with deposits of $100,000 or less each, 56 percent of total deposits were demand deposits of individuals, partnerships, and corporations. The proportion was 34 percent in banks with deposits of between $2,000,000 and $5,000,000 each, and 48 percent in banks with deposits of over $50,000,000 each. Time deposits of individuals, partnerships, and corporations amounted to 27 percent of total deposits in banks with deposits of $100,000 and under. The proportion was practically 50 percent in banks with deposits of from $2,000,000 to $5,000,000 each, and 17 percent in banks with deposits of over $50,000,000 each. T ab le 42. PERCENTAGE DISTRIBUTION OF TYPES OF DEPOSITS OF INSURED C o m m e r c ia l B a n k s , M a y 13, 1936 BANKS GROUPED BY AMOUNT OF DEPOSITS Total A ll b a n k s ....................................... 100.0% Deposits of individuals, partnerships, and corporations De mand Savings and time Inter bank de posits 14.0% Public U .S . funds Govern Trust of funds ment States, deposits etc. 7.4% 2.6% 2-5% Drafts Other items 43.7% 27.8% B anks w ith deposits o f— $100,000 and under................... 100.0 $100,000 to $250,000................. 100.0 $250,000 to $500,000................. 100.0 56.3 48.5 43.2 27.3 34.0 39.5 .4 .3 .4 12.2 13.3 12.4 .4 1.0 1.7 .1 .1 .2 2.9 2.3 2.1 .4 .5 .5 $500,000 to $1,000,000.............. 100.0 $1,000,000 to $2,000,000.......... 100.0 $2,000,000 to $5,000,000.......... 100.0 38.3 36.3 34.4 45.2 47.4 49.2 .7 1.2 2.4 11.1 10.2 8.6 2.2 1.9 1.9 .2 .7 1.2 1.7 1.6 1.3 .6 .7 1.0 $5,000,000 to $10,000,000 ., . 100.0 $10,000,000 to $50,000,000___ 100.0 Over $50,000,000....................... 100.0 36.5 39.6 48.2 44.6 30.8 17.4 4 .8 12.5 20.7 8.0 9.0 5.8 2 .2 2.9 2.8 1.7 3.1 3.3 1.1 .8 .3 1.1 1.3 1.5 •7% 1.3% Interbank deposits were unimportant in banks of small size but made up one-fifth of the deposits of banks with deposits of over $50,000,000 each. Public funds of States and their political sub divisions and outstanding drafts were relatively more important in small banks than in large banks. On the other hand, deposits of the United States Government and of postal savings funds constituted a greater proportion of total deposits among the larger banks than among the smaller banks. 74 FEDERAL DEPOSIT INSURANCE CORPORATION Figures for the different classes of banks show striking differences. In the banks members of the Federal Reserve System demand deposits were approximately twice as important as time deposits of the general public, whereas in the insured banks not members of the Federal Reserve System time deposits were more important than demand deposits of the general public. In the banks members of the Federal Reserve System there was a tendency for demand deposits to be less important and for time deposits to be more important in the larger than in the smaller banks up to banks with deposits of $2,000,000 to $5,000,000 of deposits each. Among the banks with deposits of over $5,000,000 each, the tendency was reversed and the demand deposits tended to be more important and the time deposits less important in the larger than in the smaller banks. In the banks not members of the Federal Reserve System the same tendency was also present but was not reversed in the case of banks with deposits of over $5,000,000 each. Except in the largest insured commercial banks not members of the Federal Reserve System there was little difference among the larger banks in the relative importance of demand deposits. The five banks with deposits of over $50,000,000 each, reported only 10 percent of their deposits to be in demand accounts and 78 percent to be in time accounts of individuals, partner ships, and corporations, reflecting the fact that most of these banks did only a savings bank business. The figures are shown in Table 43. T ab le 43. and R a t i o OF D e m a n d AND T i m e D e p o s i t s OF IN DIVID U ALS, PARTN ERSH IPS, C o r p o r a t io n s t o T o t a l D e p o s it s o f I n s u r e d C o m m e r c ia l B a n k s , M a y 13, 1936 BANKS GROUPED BY CLASS AND BY AMOUNT OF DEPOSITS Demand deposits of individuals, partnerships, and corporations Members F . R . System National State Time deposits of individuals, partnerships, and corporations Members F . R . N ot N ot System members members F. R . F. R . System National State System 43% 50% 34% 27% 20% 49% w ith d e p o sits o f — and under.......................................... to $250,000....................................... to $500,000....................................... 66 54 45 71 54 44 55 47 42 20 30 38 14 29 37 28 35 41 $500,000 to $1,000,000.................................... $1,000,000 to $2,000,000................................ $2,000,000 to $5,000,000................................ 40 37 36 39 36 33 36 35 31 44 46 47 44 48 50 47 49 53 $5,000,000 to $10,000,000.............................. $10,000,000 to $50,000,000............................ Over $50,000,000.............................................. 38 41 45 38 41 54 31 30 10 42 26 19 45 34 14 52 44 78 A ll b a n k s ............................................................... B an ks $100,000 $100,000 $250,000 Insurance coverage in 1936 and in 1934. Total deposits in insured commercial banks increased from $36 billion to $45 billion or by 25 percent between October 1, 1934, and May 13, 1936. The reports reveal a substantial growth in the volume of insured deposits but a decrease in the proportion of deposits insured. As of October 1, 1934, the banks reported that nearly $16 billion, or 43.5 percent, of 75 DEPOSITS OF INSURED BANKS their total deposits were covered by insurance. As of May 13, 1936, insured commercial banks reported that nearly $20 billion, or 43.3 percent of their total deposits, were in accounts of $5,000 or less each or constituted the first $5,000 of accounts exceeding that amount. The volume and proportion of deposits actually covered by insurance were somewhat smaller than shown by the figures for May 13, 1936. Table 44. PERC E N T OF D E PO SITS OF INSURED COMMERCIAL B A N K S PROTECTED BY Insurance, M ay 13, 1936, and O c t o b e r 1, 1934 BANKS GROUPED BY AMOUNT OF DEPOSITS M ay 13, 19361 O ct. 1, 1934 A ll b a n k s ....................................................................................................................................... 4 3 .3 % 4 3 .5 % B an ks w ith d ep o sits o f— $100,000 and under.................................................................................................................. $100,000 to $250,000............................................................................................................... $250,000 to $500,000............................................................................................................... 95.1 90.3 86.4 91.7 86.9 83.1 $500,000 to $1,000,000........................................................................................................... $1,000,000 to $2,000,000........................................................................................................ $2,000,000 to $5,000,000........................................................................................................ 82.2 78.1 72.2 78.8 74.6 69.1 $5,000,000 to $50,000,000...................................................................................................... Over $50,000,000...................................................................................................................... 52.2 25.2 49.6 25.7 ^ h e figures for M ay 13, 1936, overstate the percent of deposits insured but the overstatement is not sufficient to account for the increase between the two dates shown for most size groups. The reduction in the proportion of deposits covered by insurance was due chiefly to reductions reported by the banks with deposits of more than $50,000,000 each. The banks with deposits or not more than $50,000,000 each, taken as a whole or by size groups, showed increases in the proportion of their deposits protected by insurance. The figures are given in Table 44. Deposits on May IB, 1933, and May 13,1936. On May 13,1936, about 38 percent of the deposits in the 6,381 banks members of the Federal Reserve System were protected by insurance. Had deposit insurance been in effect on May 13, 1933, approximately 42 percent of deposits in these banks would have been insured. Total deposits in this class of bank amounted to $39 billion on May 13, 1936, compared with $23.5 billion on May 13, 1933, an increase of 67 percent for the three years. The growth of deposits reflected in part an increase in membership in the Federal Reserve System but chiefly the growth of deposits in the banking system generally. On May 13, 1936, the 6,381 bank members of the Federal Reserve System reported 42 million accounts. On May 13, 1933, the 5,500 licensed banks members of the Federal Reserve System reported 31 million accounts. The proportion of accounts with balances of $5,000 or less was approximately the same, about 98 percent, in both years. 76 FEDERAL DEPOSIT INSURANCE CORPORATION Deposits in m utual savings banks. On May 13, 1936, the 56 mutual savings banks insured by the Federal Deposit Insurance Corporation reported total deposits of $980 million of which $878 million, or 89 percent, were estimated to be insured. This is a slightly higher protection than the 82 percent given to savings and time deposits of individuals, partnerships, and corporations in insured commercial banks. T ab le 45. ACCOUNTS IN IN SU RED M U T U A L SAVINGS B A N K S , M A Y 13, 1936 BANKS GROUPED B Y AMOUNT OF DEPOSITS AND B Y STATES Number of accounts Number of banks U n ite d S ta tes— t o t a l ......................................................... B an k s w ith d ep osits o f — $100,000 and under.............................................. ............ $100,000 to $250,000........................................................ $250,000 to $500,000........................................................ 56 Total Over $5,000 $5,000 or less 1,386,934 46,121 1,340,813 Average size of account $ 707 2 704 704 186 3 6,275 28 6,247 194 $500,000 to $1,000,000.................................................... $1,000,000 to $2,000,000................................................. $2,000,000 to $5,000,000................................................. 6 9 14 19,199 25,457 90,036 107 397 1,085 19,092 25,060 88,951 238 519 406 $5,000,000 to $10,000,000............................................... $10,000,000 to $50,000,000............................................. Over $50,000,000............................................................... 11 6 5 169,184 150,032 926,047 2,656 4,801 37,047 166,528 145,231 889,000 467 797 784 New Jersey.......................................................................... 4 6 2 1 14 23,119 29,245 8,405 204,823 216,800 459 400 18 2,738 5,700 22,660 28,845 8,387 202,085 211,100 586 495 142 317 626 New Y o r k ............................................................................ O hio...................................................................................... Oregon.................................................................................. Pennsylvania...................................................................... V erm ont.............................................................................. 2 3 1 2 14 395,663 187,873 1,376 16,194 107,403 26,953 5,538 27 122 1,958 368,710 182,335 1,349 16,072 105,445 1,262 622 756 343 627 W isconsin............................................................................ 3 4 174,121 21,912 2,128 80 171,993 21,832 323 183 S ta te Indiana................................................................................ M aryland............................................................................. There appeared to be only a slight relationship between size of bank and the proportion of deposits insured for this class of bank. Insurance coverage in the different banks ranged from 100 percent to 78 percent. More than half of the deposits insured by the Cor poration in mutual savings banks are in New York State. Threefourths of the insured deposits were in the five banks with deposits of over $50,000,000 each. The figures are shown in Tables 45 and 46. The mutual savings banks reported a total of 1,387,000 accounts of which 1,341,000, or 97 percent, contained balances of not more than $5,000 each. The proportion of savings and time accounts with balances of not more than $5,000 in insured commercial banks was 99 percent. Nearly 89 percent of the deposits of insured mutual savings banks were insured on May 13, 1936, compared with 77 percent on October 77 DEPOSITS OF INSURED BANKS 1, 1934. The increase in the proportion of deposits insured reflected chiefly the raising of the maximum allowable coverage per depositor in some of the banks. Under the law in effect on October 1, 1934, mutual savings banks could elect a maximum insurance per depositor of either $2,500 or $5,000. Twenty-four mutual savings banks had elected a maximum of $2,500 for each depositor. Approximately 68 percent of the deposits in those banks were insured. Forty-four mutual savings banks had elected a maximum insurance of $5,000 for each depositor, comparable to that in effect now, and approxi mately 88 percent of the deposits in those banks were insured. Under the present law the $5,000 maximum coverage for each depositor applies uniformly to each insured bank. Table 46. DEPOSITS OF INSURED MUTUAL SAVINGS BANKS, M AY 13, 1936 BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES Deposits (in thousands of dollars) Total U n ited S ta tes— t o t a l ......................................................... B an ks $100,000 $100,000 $250,000 980,145 In In accounts accounts of of $5,000 over or less $5,000 Insured Percent insured 332,341 647,804 878,409 89 w ith d e p o sits o f — and under........................................................... to $250,000 .......... to $500,000........................................................ 131 131 100 1,217 214 1,003 1,143 93 $500,000 to $1,000,000..................................................... $1,000,000 to $2,000,000................................................. $2,000,000 to $5,000,000................................................. 4,570 13,208 36,526 839 3,261 8,396 3,731 9,947 28,130 4,266 11,932 33,555 93 90 91 $5,000,000 to $10,000,000............................................... 78,991 $10,000,000 to $50,000,000............................................ 119,518 Over $50,000,000............................................................... 725,984 21,597 38,825 259,209 57,394 80,693 466,775 70,674 104,698 652,010 89 87 89 13,544 14,474 1,191 64,895 135,702 3,947 2,848 203 16,348 46,696 9,597 11,626 988 48,547 89,006 11,892 13,626 1,078 62,237 117,506 87 94 90 95 86 New Y o r k ............................................................................ 499,184 Ohio....................................................................................... 116,943 Oregon.................................................................................. 1,040 Pennsylvania...................................................................... 5,560 Verm ont............................................................................... 67,302 180,549 50,638 153 880 15,245 318,635 66,305 887 4,680 52,057 453,400 93,995 1,022 5,290 61,847 90 80 98 95 91 56,310 4,000 14,148 686 42,162 3,314 52,802 3,714 93 92 S ta te Indiana................................................................................ M aine................................................................................... M aryland............................................................................ M innesota........................................................................... New Jersey.......................................................................... W ashington......................................................................... W isconsin............................................................................ 131 PART FOUR LEGISLATION, REGULATIONS AND INSTRUCTIONS DEPOSIT INSURANCE LEGISLATION EXTENSION OF LOAN AND PURCHASE POWERS P u b l ic R e s o l u t io n — N o. 83— 74 th C o n g r e ss S. J. R e s . 230 JOINT RESOLUTION Amending paragraph (4) of subsection (n) of section 12B of the Federal Reserve A ct, as amended. R e s o 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 S t 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 a t paragraph (4) of subsection (n) of section 12B of the Federal Reserve A ct, as amended, is amended b y striking out “ July 1, 1936” and inserting in lieu thereof “ July 1, 1938” . Approved, April 21, 1936. 81 82 FEDERAL DEPOSIT INSURANCE CORPORATION REGULATIONS AND RULINGS OF THE CORPORATION ADVERTISING BY INSURED BANKS R E G U L A T IO N III A s Amended October 26, 1936 , to be Effective November 20, 1936, Superseding Regulation I I I of October 11, 1935 S co pe of R e g u l a t io n This regulation prescribes the requirements with regard to the official signs 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 t io n 1 Statutory Provisions Paragraph (2), subsection amended, provides as follows: (v), section 12B of the Federal Reserve Act, as “ 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. 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: The Federal Deposit Insurance Corporation W ASHINGTON, D. C. $5000 MAXIMUM INSURANCE FOR EACH DEPOSITOR $5000 REGULATIONS 83 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 ,1935, 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 Manner o f 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 November 20, 1936, of the types enumerated in subsection (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 October 26, 1936, 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 .” 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 and reports of condition of an insured bank except those required to be published by State or Federal law. 2. All calendars. 3. Institutional advertisements published in a newspaper, magazine, or other periodical, bill board advertisements, posters, street car displays, signs, plates, pamphlets, circular letters, leaflets, novelty and specialty advertise ments, pay roll envelopes, display advertisements in directories such as telephone, bank, and city directories and advertisements made by radio or reproduced on the picture screen in theaters provided that of the types of advertisements listed in this paragraph the following shall be exempted from the requirement of including the official advertising statement: 84 FEDERAL DEPOSIT INSURANCE CORPORATION Exemptions: (aa) (bb) (cc) (dd) (ee) Bank supplies such as stationery (except when used for circular letters), envelopes, deposit slips, checks, drafts, signature cards, deposit pass books, certificates of deposit, etc. Signs or plates in the banking offices or attached to the building or buildings in which the banking offices are located. Listings in directories whether in heavy or other type. Advertisements not setting forth the name of the insured bank. Advertisements not containing any advertising relating to the insured bank in addition to any or all of the following, its name, telephone number, address, announcement of membership in the Federal Reserve System, and subject matter specifically excluded under exemptions (aa) through (oo). (ff) Advertisements relating to the making of loans by the bank or loan services. (gg) Advertisements relating to safe keeping box business or services. (hh) Advertisements relating to trust business or trust department services, (ii) Advertisements relating to real estate business or services. (jj) Advertisements relating to armoured car services. (kk) Advertisements relating to service charges or analysis charges. (11) Advertisements relating to securities business or securities department services. (mm) Display advertisements in bank directory on a page on which there are bank listings whether in heavy or other type, provided the name of the insured bank appears on some page of the listings in the directory, and provided there appears on each page of the directory containing listings a symbol or other descriptive matter indicating the banks which are members of the Federal Deposit Insurance Corporation. (nn) Advertisements relating to travel department business, including traveler’s checks on which the bank issuing or causing to be issued the advertisement is not primarily liable. (oo) Joint or group advertisements of banking service where the names of insured and noninsured banks are listed and form a part of such ad vertisements. 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. Subsection (e). Where an insured bank has bill board advertisements out standing, not excluded under exemptions (aa) through (oo) in Paragraph 3, sub section (c), section 3, 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 out standing. S e c t io n 4 Approved Emblem and Approved Short Title Which Insured Banks M ay Use at Their Option Subsection (a). The emblem reproduced below is hereby approved for the use of insured banks. REGULATIONS 85 Subsection (b). The following short title is hereby approved for use of insured banks on signs or plates attached to the outside of the bank building: “ M E M B E R OF F D I C ” 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, 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 outside 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. The short title cannot be substituted for the official advertising statement in the types of advertisements required to include the latter. 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 provisions 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 N o 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 Corporation. RESOLUTION EXTENDING TIME FOR INSURED BANKS TO COMPLY WITH REGULATION III, AS AMENDED Approved by the Board of Directors on December 3 , 1936 . “ W H E R E A S , M any insured banks have failed to include the official advertising statement on calendars, leaflets, pamphlets, payroll envelopes, circular letters, diaries, novelty and specialty advertisements, which were ordered prior to the effective date of the amendments to Regulation I I I ; and “ W H E R E A S , It will cause such banks considerable undue hardship to have such articles reprinted; “ N O W T H E R E F O R E BE IT R E SO LV E D by the Board of Directors that pursuant to paragraph 3, subsection (a), section 3 of Regulation III, as amended October 26, 1936, banks which are members of this Corporation which have prior to October 26, 1936, ordered calendars, leaflets, pamphlets, payroll envelopes, circular letters, diaries, novelty and specialty advertisements which do not contain the official advertising statement and have the same on hand or are unable to change the orders heretofore placed are hereby granted an extension of time in which to distribute such calendars, leaflets, pamphlets, payroll envelopes, circular letters, diaries, novelty and specialty advertisements, which period of time shall expire on December 31, 1937. This extension of time is hereby limited to those calendars, leaflets, pamphlets, payroll envelopes, circular letters, diaries, novelty and specialty advertisements which have been ordered by banks prior to October 26, 1936.” RESOLUTION EXEMPTING BANKS WITH BRANCHES IN FOREIGN COUNTRIES FROM PROVISIONS OF REGULATION III UNDER CERTAIN CONDITIONS Approved by the Board of Directors on December 1 7 ,193 6 . “ W H E R E A S , Paragraph (12), subsection (c) of section 12B of the Federal Reserve Act, as amended, in defining the term ‘deposit* excludes those obligations of a bank which are payable only at an office of a bank outside of the United States; and FEDERAL DEPOSIT INSURANCE CORPORATION 86 “ W H E R E A S , Some banks maintaining branches in foreign countries desire to advertise but do not desire to include the official advertising statement in such advertisements in view of the fact that the deposits in such branches are not insured; “ N O W T H E R E F O R E BE IT R E S O L V E D , That Regulation III shall not apply to those advertisements of banks which maintain offices in foreign countries in which the deposits are not insured, when such advertisements are published in foreign countries.” PAYMENT OF DEPOSITS AND INTEREST THEREON BY INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM R E G U L A T IO N IV A s Amended February 10, 1937 , to be Effective February 11, 1937, Superseding Regulation I V as Amended January 23,1936 A u t h o r it y for and Scope 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. 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 deposit” and “ time deposits, open account,” as defined below. (c) Time 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 the instrument; or (3) Upon written notice to be given not less than 30 days before the date of repayment.1 (d) Time 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 *If the certificate of deposit provides merely that the bank reserves the right to require notice of not less than 30 days before any withdrawal is made, the bank must require such notice before permitting withdrawal. 2Deposits, such as Christmas club accounts and vacation club accounts, which are made under written contracts providing that no withdrawal shall be made until a certain number of periodic deposits have been made during a period of not less than 3 months, constitute “ time deposits, open account” even though some of the deposits are made within 30 days from the end of such period. *[f a deposit be made with respect to which the bank merely reserves the right to require notice of not less than 30 days before withdrawal is made, the bank must require such notice to be given before permitting withdrawal. REGULATIONS 87 (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 (A ) upon presentation of the pass book, through payment to the person presenting the pass book, or (B ) without presentation of the pass book, through payment to the de positor 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 subsequently to February 1, 1936, whether or not such deposits are credited to an account existing prior to February 1, 1936. 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 entered in the pass book as soon as practicable after the withdrawal is made. S e c t io n 2 Demand Deposits (a) Interest prohibited. Except as hereinafter provided, no insured non member bank shall directly or indirectly, by any device whatsoever, pay any interest on any demand deposit. Within this regulation any payment to or for the account of any depositor as compensation for the use of funds constituting a deposit shall be considered interest. (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 4Deposits in joint accounts of two or more individuals may be classified as savings deposits if they meet the other requirements of the above definition, but deposits of a partnership operated for profit m ay not be so classified. Deposits to the credit of an individual of funds in which any beneficial interest is held b y a corporation, partnership, association or other organization operated for profit or not operated primarily for religious, philanthropic, charitable, educational, fraternal, or other similar purposes may not be classified as savings deposits. Presentation of a pass book m ay be made over the counter or through the mails; and payment may be made over the counter, through the mails or otherwise, subject to the limitations of paragraph (2), subsection (e), section 1 as to the person to whom such payment may be made. 6Section 12B (c) (7) of the Federal Reserve A ct which defines the term “ savings bank” is quoted in the Appendix hereto. ’ Deposits of moneys paid into State courts b y private parties pending the outcome of litigation are not deposits of “ public funds,” within the meaning of the above provision. 88 FEDERAL DEPOSIT INSURANCE CORPORATION 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 required 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 February 1, 1936, (or, if the bank became an insured nonmember bank there after, 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 modified 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, arid 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. S e c t io n 3 Maximum Rate of Interest on Time and Savings Deposits (a) M axim um rate prescribed from time to tim e. 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 ap plicable maximum rate as the Board of Directors of the Federal Deposit Insurance Corporation shall prescribe from time to time; and any rate or rates wThich may be so prescribed 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. N o certificate of de posit 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 contractual 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 nonmember 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 payable 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 withdrawal 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 pursuant 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 withdrawal. (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 REGULATIONS 89 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 Payment of Time Deposits before Maturity (a) Tim e deposits payable on a specified date. No 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) Time deposits payable after a specified period. No 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. (c) Time 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 with drawal 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. N o insured nonmember bank shall change its practice with respect to the requiring or not requiring of notice 8Deposits, such as Christmas club accounts and vacation club accounts, which are made under written contracts providing that no withdrawal shall be made until a certain number of periodic deposits have been made during a period of not less than 3 months, constitute “ time deposits, open accounts” even though some of the deposits are made within 30 days from the end of such period. 9Where a time certificate is renewed within 10 days after maturity, the renewal certificate m ay be dated back to the maturity date of the matured certificate. 90 FEDERAL DEPOSIT INSURANCE CORPORATION 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. No change in the practice of an insured nonmember bank with respect to the requiring or not re quiring 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 non member 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, provided that if the bank’s practice is to require notice before permitting with drawal 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. 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 de posits 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 regula tion prescribe different rates for such payment on time and savings deposits having different maturities, or subject to different conditions respecting with drawal or repayment, or subject to different conditions by reason of different locations, or according to the varying discount rates of members 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 regulations relating to the payment of interest or dividends on deposits or to withdrawal 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 matur ing 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 percentum of the bank’s total deposits. REGULATIONS 91 SUPPLEMENT TO REGULATION IV Issued by the Board of Directors of the Federal Deposit Insurance Corporation Effective February 1 , 1936 M A X IM U M R A T E S OF IN T E R E ST PA Y A B LE ON T IM E AND SA V IN G S D E P O S IT S B Y IN SU R ED N O N M E M B E R B AN KS 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) M a x im u m rate of percent. No insured nonmember bank shall pay interest accruing after February 1,1936, at a rate in excess of 2 H 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 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. (2) M axim um rate of 2 percent. No insured nonmember bank shall pay interest 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 ac cordance 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 nonmem ber 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) M axim um rate of 1 percent. N o insured nonmember bank shall pay interest 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 deposit 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 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 ter minated 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 applicable hereunder to savings deposits unless meanwhile the same be converted into savings deposits as defined in this regulation. !The maximum rates of interest payable by insured nonmember banks on time and savings deposits as prescribed herein are not applicable to any deposit which is payable only at an insured nonmember bank or at an office of an insured nonmember bank located outside of the States of the United States and the District of Columbia. aThis limitation is not to be interpreted as preventing the compounding of interest at other than quar terly intervals, provided that the aggregate amount of such interest so compounded does not exceed the aggregate amount of interest at the rate above prescribed when compounded quarterly. 92 FEDERAL DEPOSIT INSURANCE CORPORATION RULES RELATING TO THE PAYMENT OF ASSESSMENTS BY BANKS WHOSE INSURED STATUS HAS TERMINATED Approved by the Board of Directors on June 11, 1936 R ule 1 Where the insured status of a bank is terminated under the provisions of para graph (1) of subsection (i), (of section 12B of the Federal Reserve Act, as amended,) the bank shall continue to furnish certified statements and pay assessments as though the insured status had not terminated and where the assessment to be paid on any certified statement required to be filed will cover a period extending beyond two years from the date of termination, the assessment to be paid on such certified state ments shall be prorated to cover only such portion of the assessment period as falls within the two year period from the date of termination. R ule 2 If a bank whose insured status has been terminated under paragraphs (1) or (2) of subsection (i), (of section 12B of the Federal Reserve Act, as amended,) makes application to the Corporation, before the insurance of its deposits shall have ceased, to be permitted to continue or to resume its status as an insured bank and if the directors grant the application, the bank will be deemed, for assessment purposes, to continue as an insured bank and must thereafter furnish certified statements and pay assessments as though its insured status had not been terminated. R ule 3 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 purposes 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 ule 4 Where the deposits of an insured bank are assumed by a new insured bank and where the terms of the assumption or conditions upon which the new bank becomes insured are such that the new bank is required to report in its certified statement the entire deposit liability assumed by it as its deposit liability for assessment purposes, the payment of assessments upon such certified statement by the new bank shall be deemed payment of the continuing obligation of the terminating bank, provided the requisite notice of assumption be given to depositors. R ule 4 -A Upon the written consent and direction of the terminating bank, the Corporation will credit toward the payment of the first assessment of the new bank the prorated portion of the assessment previously paid by the terminating bank, calculated upon the average deposits of the terminating bank for the last thirty-one days of its operation; provided that if this average be higher than the assessment base upon which its last assessment was paid, the latter base shall be used. R ule 5 Where the deposit liabilities of one insured bank are assumed by an operating insured bank which previously had paid its assessment for the current period and where the terms of the assumption are such, or the obligation of the assuming bank is such, that the assuming bank is required to certify, or does certify, as a basis for its next semi-annual assessment the combined deposit liability of the terminating bank and its own deposit liability in arriving at the average deposits for assessment purposes, the payment of assessments upon such certified statement by the as suming bank shall be deemed payment of the continuing obligation of the terminat ing bank, provided the requisite notice of assumption be given to depositors. REGULATIONS 93 FORMS AND INSTRUCTIONS INSTRUCTIONS FOR PREPARATION OF FORM 89 SUM M ARY OF DEPOSITS AT CLOSE OF BUSINESS M AY 13, 1936 A. Number of accounts.— The bank is asked to report for each type of deposits (a) the total number of deposit accounts, (b) the number of accounts with balances of over $5,000, and (c) the number of accounts with balances of $5,000 or less. For the purpose of this report, kindly note that: 1. Accounts of exactly $5,000 are included in accounts of $5,000 or less. 2. The number of dormant and inactive accounts is to be included in number of accounts. 3. Do not combine accounts. Each account standing to the credit of a depositor, whether or not in the same capacity and the same right, is to be considered a separate account. 4. Each outstanding certificate of deposit, letter of credit sold for cash, draft, certified and officers’ check is to be considered a separate account. All travelers’ checks outstanding in the name of an individual should be combined and reported as one account. 5. As shown in the records of the trust department, the uninvested trust funds of each separate trust estate of which the bank is the fiduciary should be considered as a separate account. If desired the principal balance and the income balance may each be reported separately. B. Deposits.— The bank is also requested to report for each type of deposits (a) the total amount of deposit balances, (b) the sum of balances in accounts of over $5,000, and (c) the sum of balances in accounts of $5,000 or less. The deposit classifications correspond with the usual ledger and condition report items, with the exception of item 3, which is found only in banks having trust powers and which is computed from records of the trust department; item 5, which is to be determined by you as of M ay 13, 1936; and item 8, which is to be reported in accordance with Regulation I. The total liability for deposits reported on Form 89 should agree with the figure of total deposits reported for M ay 13, 1936, in Column A of F D I C Form 555, Tabulation of Assessment Base. C. Suggested procedure.— Records and the manner of keeping them vary among different banks. Each bank can judge what method of preparing the data is best adapted to its particular types of records. The following procedure is suggested as a method which will produce the information requested with a minimum of work to the bank: 1. Run a trial balance of deposit ledgers and of records of certificates, obtaining total amount of deposits under each type of deposit requested. 2. From the adding machine tapes run a sum of the deposits in accounts of over $5,000 in each type of deposit. 3. Subtract the amounts obtained in 2 from the totals in 1 to obtain the amount of deposits in accounts of $5,000 or less in each type of deposit. 4. The number of accounts may be found by marking off the space re quired for listing one hundred accounts on an adding machine tape and by using this as a measure on all of the tapes on which the deposit accounts have been listed. D. Banks operating branches.— Banks operating branches are requested to submit a separate report for each office or branch in operation on M ay 13, 1936, as well as a combined report for the bank as a whole. ZD DUPLICATE Bank may retain this copy T h e F e d e r a l D eposit In su ran ce C orp o ra tio n S U M M A R Y OF D E P O S IT S A t close of business M ay 13, 1936 (Name of bank) T Y P E OF D EP O SITS Total Over $5,000 Total $5,000 or less 1. U . S. Government and postal savings deposits |Cts 1 In accounts of over $5,000 |Cts Dollars i 1 2. Public funds of States and other political subdivisions 3. Uninvested trust funds (as recorded in trust department) 5. Outstanding drafts 6. Demand deposits of individuals, partnerships, and corporations (exclusive of uninvested trust funds) 1 CORPORATION 7. Savings deposits and time deposits of individuals, partnerships, and corporations (exclusive of uninvested trust funds) 8. Other items included in Column A Form 555 (such as letters of credit issued for cash; certified officers’ and travelers’ checks outstanding and Fed eral Reserve deferred credit account) 9. Total (amount of deposits should agree with Column A Form 555) M e morandum : Uninvested trust funds deposited in own bank (included in item 3 above). 1 INSURANCE 4. Deposits of foreign and domestic banks Form 89 Statistical Federal Deposit Insurance Corporation In accounts of $5,000 or less Dollars |Cts DEPOSIT Dollars FEDERAL A mount of D eposits N um ber op A ccounts The above statement is correct to the best of my knowledge and (Cashier or President) PART FIVE STATISTICS OF BANKS AND DEPOSIT INSURANCE 97 NUMBER OF BANKING OFFICES N ote R e g a r d in g N um ber and B C l a s s if ic a t io n a n k in g of O p e r a t in g B anks and O f f ic e s Classification of banks and banking offices In s u r e d b a n k s include all banks insured by the Federal Deposit Insurance Corporation; n o n in s u r e d b a n k s include all banks not so insured. C o m m e r c ia l b a n k s include the following categories of banks: All operating national banks; All incorporated State banks, trust companies, and bank and trust companies, regularly engaged in the business of receiving deposits, whether demand or time, except mutual savings banks and, in New Hampshire, guaranty savings banks; All stock savings banks, Hampshire; excluding guaranty savings banks in New Banks in conservatorship or operating under restrictions, provided they are authorized to and in fact do accept new deposits, regardless of the character of the restrictions imposed on the operations of the bank; Such industrial and Morris Plan banks as operate under general banking codes or operate under the same codes of law as insured industrial banks; Branches of foreign banks which engage in a general deposit business; Cash depositories; Private banks under State supervision, and such other private banks as are reported by reliable unofficial sources to be engaged in deposit banking; All insured trust companies, even though not engaged in regular deposit banking; Chief office in each of the possessions of branches of American and foreign banks engaged in a general deposit business in those possessions. M u t u a l sa v in g s banks include all banks operating under special State banking codes applying to mutual savings banks, including all guaranty savings banks in New Hampshire. The classification of mutual savings banks conforms with that adopted by the Board of Governors of the Federal Reserve System except for one bank classified as a mutual savings bank by that Board which is insured and classified by the Federal Deposit Insurance Corporation as a commercial bank. 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. B r a n c h e s or addition al offices include all offices of banks operating more than one office, other than head offices, at which deposits are received or checks cashed, and all offices of insured trust companies not engaged in deposit banking. The term b r a n c h e s or additional offices is used in accordance with the definition in para graph (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.” 98 FEDERAL DEPOSIT INSURANCE CORPORATION In stitu tio n s excluded fro m the n u m b e r of banks Figures for operating banks do not include institutions in the following categories, though such institutions may perform many of the same functions as banks: Banks which have suspended operations or have decided to close up their affairs, and have ceased to accept new deposits and are proceeding to liquidate their assets and pay off existing deposits, regardless of the amount of deposit liability still remaining and regardless of whether they are listed among operat ing banks or included in abstracts of condition of banks published by State bank ing authorities; Building and loan associations, savings and loan associations, credit unions, personal loan companies, and similar institutions, operating under special laws applying to such institutions or under general incorporation laws, regardless of whether such institutions are authorized to accept deposits from the public or from their members and regardless of whether such institutions are called “ banks” ; Noninsured Morris Plan companies, industrial banks, loan and investment companies, and similar institutions, not operating under general State banking codes, or under the same codes of law as similar institutions which have been admitted to insurance; Noninsured trust companies not engaged in receiving deposits from the general public, regardless of whether they are listed among banks or included in abstracts of condition of banks published by State banking authorities; Branches of foreign banks, and of private banks, which confine their business to foreign exchange dealings and do not receive “ deposits” as that term is com m on ly understood; A few special institutions chartered under general banking laws, but operating as mortgage or investment companies and not engaged in deposit banking; Federal Reserve banks and other banks, such as the Savings and Loan Bank of the State of New York, which operate as rediscount banks and do not accept deposits from the general public. Revision of figures for Decem ber 31, 1935 Figures regarding the number of banks and of banking offices for December 31, 1935, have been revised since publication of the Annual Report of the Federal Deposit Insurance Corporation for the year ending December, 31,1935. The revis ions made are shown below. N u m b e r o f in s u r e d b a n k s n o t m e m b e r s o f th e F e d e ra l R e se iv e S y s t e m . Revised to include one Deposit Insurance National Bank authorized to accept deposits. Number of branches of insured banks. Revised (a) to include 9 branches of national banks, 2 branches of State banks not members of the Federal Reserve System, and 13 branches of insured banks not members of the Federal Reserve System not previously reported by the banks operating them; (b) to include 3 offices of national banks and 1 office of a State bank member of the Federal Reserve System not previously considered to be “ branches” ; and (c) to exclude 1 branch of a national bank discontinued during 1935 but not reported until later. NUMBER OF BANKING OFFICES 99 N u m b e r o f n o n in s u r e d b a n k s . Revised (a) to include 37 banks in conser vatorship or operating under restrictions; (b) to include 105 private banks not under State supervision which are engaged in deposit banking; and (c) otherwise to adjust the number in conformity with the definitions and criteria set forth above. N u m b e r o f b r a n c h e s o f n o n in s u r e d b a n k s . Revised to include a number of branches, chiefly in the possessions, not previously counted, and to adjust the num ber in conformity with the definitions and criteria of banks set forth above. N u m b e r o f b a n k s o p e r a tin g m o r e t h a n o n e o ffice . accordance with revisions in the number of branches. Revised as necessary in 100 FEDERAL DEPOSIT INSURANCE CORPORATION NUMBER OF BANKING OFFICES T a b le 101. N u m b e r AND CLASSIFICATION OP OPERATIN G B A N K S AND B A N K IN G O f f i c e s , D e c e m b e r 31, 1935, a n d D e c e m b e r 31, 19361 United States including possessions United States excluding possessions Dec. 31, 1936 Dec. 31, 19352 Net change Dec. 31, 1936 D ec. 31, i Net 19352 change A ll b a n k in g o ffice s — t o t a l ............................ Insured.............................................................. N oninsured....................................................... 19,203 17,297 1,906 19,312 17,328 1,984 -109 -31 -78 19,109 17,290 1,819 19,218 17,324 1,894 -109 - 34 - 75 A ll b an k s— t o t a l ............................................... Insured.............................................................. N oninsured....................................................... 15,714 14,029 1,685 15,940 14,182 1,758 -226 -153 -73 15,679 14,025 1,654 15,904 14,179 1,725 -225 -154 -71 A ll b ra n ch e s or a d d itio n a l o ffic e s ............ Insured.............................................................. N oninsured....................................................... 3,489 3,268 221 3,372 3,146 226 + 117 + 122 -5 3,430 3,265 165 3,314 3,145 169 +116 +120 -4 B a n k in g offices— t o t a l .................................. Insured— tota l................................................. Members F. R. System: na tion a l......... Members F. R. System: S ta te ............... N ot members F. R. System ..................... Noninsured....................................................... 18,516 17,234 6,733 2,034 8,467 1,282 18,622 17,265 6,724 1,956 8,585 1,357 -106 -31 +9 + 78 -118 -75 18,422 17,227 6,733 2,034 8,460 1,195 18,528 17,261 6,724 1,956 8,581 1,267 -106 -34 +9 + 78 -121 -72 B anks— t o t a l ..................................................... Insured— to ta l................................................. Members F. R. System: national.......... Members F. R. System: S tate............... N ot members F. R . System ..................... Noninsured....................................................... 15,151 13,973 5,325 1,051 7,597 1,178 15,374 14,126 5,386 1,001 7,739 1,248 -223 -153 -61 + 50 -142 -70 15,116 13,969 5,325 1,051 7,593 1,147 15,338 14,123 5,386 1,001 7,736 1,215 -222 -154 -61 +50 -143 -68 U n it b an k s— t o t a l ........................................... Insured— to ta l................................................. Members F. R. System: national........... Members F. R. System: State............... N ot members F. R. System ..................... N oninsured...................................................... 14,257 13,119 5,128 898 7,093 1,138 14,518 13,312 5,198 856 7,258 1,206 -261 -193 -70 +42 -165 -68 14,233 13,117 5,128 898 7,091 1,116 14,494 13,310 5,198 856 7,256 1,184 -261 -193 -70 +42 -165 -68 B an ks o p e ra tin g m o r e th a n o n e office— t o t a l .............................................................. Insured— to ta l................................................. Members F. R. System: national.......... Members F. R. System: S tate............... N ot members F. R. System ..................... N oninsured....................................................... 894 854 197 153 504 40 856 814 188 145 481 42 +38 +40 +9 +8 +23 -2 883 852 197 153 502 31 844 813 188 145 480 31 +39 +39 +9 +8 +22 B ra n ch es o r a d d itio n a l offices— t o t a l . . . Insured— to ta l................................................. Members F. R . System: national.......... Members F. R . System: S tate............... N ot members F. R . System ..................... Noninsured....................................................... 3,365 3,261 1,408 983 870 104 3,248 3,139 1,338 955 846 109 +11 7 + 12 2 + 70 +28 +24 -5 3,306 3,258 1,408 983 867 48 3,190 3,138 1,338 955 845 52 + 116 + 12 0 +70 +28 +22 -4 A ll o ffices o f b a n k s o p e ra tin g m o re th a n o n e o ffice — t o t a l ...................................... Insured— to ta l................................................. Members F. R. System: national........... Members F. R. System: S tate............... N ot members F. R . System ..................... Noninsured....................................................... 4,259 4,115 1,605 1,136 1,374 144 4,104 3,953 1,526 1,100 1,327 151 + 155 + 162 +79 +36 +47 -7 4,189 4,110 1,605 1,136 1,369 79 4,034 3,951 1,526 1,100 1,325 83 + 15 5 + 159 + 79 +36 +44 -4 A L L B A N K S A N D B A N K IN G OFFICES C O M M E R C IA L B AN K S 101 NUMBER OF BANKING OFFICES T a b le 101. N u m b e r an d C l a s s i f i c a t i o n o f O p e r a tin g B a n k s an d B a n k in g O f f i c e s , D e c e m b e r 31, 1935, a n d D e c e m b e r 31, 19361— Continued United States including possessions Dec. 31, Dec. 31, 1936 19352 United States excluding possessions N et change Dec. 31, Dec. 31, 1935’ 1936 N et change m u t u a l s a y in g s b a n k s 687 63 624 690 63 627 B an ks— t o t a l3 ................................................... Insured.............................................................. Noninsured....................................................... 563 56 507 566 56 510 -3 U n it b an k s— t o t a l ........................................... Insured.............................................................. Noninsured....................................................... 485 52 433 488 52 436 -3 B anks o p e ra tin g m o re th a n o n e office — t o ta l ............................................................ Insured ....................................................... Noninsured ................................................... 78 4 74 B ra n ch es o r a d d itio n a l o ffices— t o t a l . . . Insured ................................................... N oninsured ................................................ A ll o ffices o f b an k s o p e ra tin g m o re th a n o n e o ffice — to ta l .................................. Insured ................................................... N oninsured .................................... B a n k in g o ffices— t o t a l ................................... N oninsured......................... , ........................... -3 687 63 624 690 63 627 563 56 507 566 56 510 -3 485 52 433 488 52 436 -3 78 4 74 78 4 74 78 4 74 124 7 117 124 7 117 124 7 117 124 7 117 202 11 191 202 11 191 202 11 191 202 11 191 -3 -3 -3 1For explanation of classification of banks and banking offices see N OTE on pages 97 to 99. 2Revised figures. For explanation see N OTE on pages 98 to 99. ’ N ot members of the Federal Reserve System. -3 -3 -3 -3 FEDERAL DEPOSIT INSURANCE CORPORATION 102 T a b le and 102. B A N A LYSIS OF CH AN GES IN N U M B E R AND CLASSIFICATION OF B A N K S a n k in g O f f ic e s in t h e U n it e d State s and P o s s e s s io n s D u r in g 1936 Insured Total Total Members F. R. System National State N on N ot members insured F. R. System C O M M E R C IA L B A N K IN G OFFICES N u m b e r o f offices, D e c e m b e r 31, 1936.. N u m b e r o f offices, D e c e m b e r 31, 1935.. . N et c h a n g e d u rin g y e a r ..................... 18,516 18,622 17,234 17,265 6,733 6,724 2,034 1,956 8,467 8,585 1,282 1,357 -106 -31 +9 +78 In crease— t o t a l ............................ Banks beginning operations.. . Branches opened for business. 238 207 29 31 36 171 1 94 65 173 84 6 78 29 65 29 28 D ecrease— t o t a l......... Banks ceasing operations. Branches discontinued. . . 345 289 286 70 183 232 54 59 33 10 23 20 59 57 2 +53 +2 +49 -5 3 +46 +7 +1 +1 +43 -4 6 +6 -7 56 11 -7 5 163 2 T r u st c o m p a n y n o t en gaged in d e p o sit b a n k in g a d m itte d to in s u r a n c e ........... C h a n g es in cla ss ific a tio n : n o n in su re d to in s u red — t o t a l .................................... . B anks............................................................ Branches....................................................... C h a n g es in cla ss ific a tio n : n o n in s u re d — t o t a l ......... Banks....................................... Branches.................................. +2 +2 in su red to -6 -2 C h a n ges in cla ss ific a tio n a m o n g in su red b a n k s— t o t a l ......................................... Banks............................................................ Branches....................................................... +6 -3 -1 -4 +4 +2 -2 -7 -9 +2 +83 +58 +25 -7 6 -4 9 -2 7 C O M M E R C IA L BAN K S N u m b er o f b an k s, D e c e m b e r 31, 1936. .. N u m b e r o f b an k s, D e c e m b e r 31, 1935. .. N et ch a n g e d u rin g y e a r . B an ks b e g in n in g o p e ra tio n s— t o t a l . New banks 1............................................. Closed banks reopened2....................... B an ks cea s in g o p e ra tio n s — to ta l Suspended banks not reopened or succeeded Merged with aid of FD IC loans — net decrease........................................................ Other mergers, consolidations and ab sorptions— net decrease3.......................... Other liquidations ' 15,151 15,374 13,973 14,126 5,325 5,386 1,051 1,001 7,597 7,739 1,178 1,248 -223 -153 -61 + 50 -142 -70 65 36 29 59 32 4 29 27 6 289 232 43 40 22 22 159 65 139 31 T r u s t c o m p a n y n o t en g a g ed in d e p o s it b a n k in g a d m it t e d to in s u ra n ce C h a n g es in cla s s ific a tio n : n o n in su re d to in s u re d — t o t a l .......................................... National banks succeeding noninsured banks......................................................... Admissions to Federal Reserve System . Admissions to insurance: Banks regularly operating at beginning of yea r....................................................... Banks formerly operating under re strictions 5............................................. 1 1 59 1 10 25 4 163 39 57 3 21 50 7 80 23 20 34 1 46 43 -4 6 -1 -2 37 37 -3 7 6 6 -6 103 NUMBER OF BANKING OFFICES T ab le 102. A n a l y s is OF CHANGES IN NUMBER AND CLASSIFICATION OF BANKS AND B a n k in g O f f i c e s in t h e U n it e d S t a t e s an d P o s s e ssio n s D u r in g 1936 — Cont. Insured Total Total Members F. R. System National State N on N ot members insured F. R. System C O M M E R C IA L B A N K S — Cont. C h a n ges in cla s s ific a tio n : in s u red to n o n in s u re d — t o t a l .................................. Noninsured banks succeeding insured -4 -1 -3 Withdrawal from Federal Reserve System -3 +4 -3 -1 +3 -1 +1 C h a n g es in cla ss ific a tio n a m o n g in su red National banks succeeding insured banks not members Federal Reserve System6 . Insured State banks succeeding national -9 58 -4 9 10 -4 -6 -1 9 1 18 Insured bank not member Federal Re serve System Succeeding State bank -1 1 -6 6 68 -6 8 1 13 2 1 1 Withdrawals from Federal Reserve System Insured banks admitted to Federal ReS u cces s ion s n o t in v o lv in g c h a n g e s in 2 Suspended and restricted banks succeeded by another bank in same class7 ............... Banks merged with newly organized banks by aid of F D IC loans .............................. Other successions by another bank in same class8 ............................................................. New charters in mergers of insured banks with each other by aid of F D IC loans Other new charters in consolidations........ 1 2 7 1 1 1 2 1 B R A N C H E S OR A D D IT IO N A L OFFICES OF C O M M E R C IA L B A N K S 3,365 3,248 3,261 3,139 1,408 1,338 983 955 870 846 104 109 + 117 +122 + 70 +28 +24 -5 B ra n ch es o p e n e d f o r b u sin ess— t o t a l . . . New branches established............................ Banks converted into branches as result of mergers, consolidations and absorptions 173 100 171 98 78 34 28 16 65 48 2 2 73 73 44 12 17 B ra n ch es d i s c o n t in u e d ................................. 56 54 11 23 20 2 +7 +6 +1 +6 +6 -7 -6 +1 +1 N u m b e r o f b ra n ch e s, D e c e m b e r 31, 1936 N u m b e r o f b ra n ch e s, D e c e m b e r 31, 1935 N et c h a n g e d u rin g y e a r ........................... C h a n g es in cla s s ific a tio n : n o n in su re d to in s u re d — t o ta l ........................................ Branches of banks admitted to insurance Branch transferred as result of merger, consolidation or absorption...................... C h a n ges in c la ss ific a tio n : in su re d to n o n in su re d — t o t a l .................................. Branches of a bank withdrawing from Federal Reserve System without con ......................... tinuance of insurance C h a n g es in cla ss ific a tio n a m o n g in su red b a n k s — t o ta l ...................................... Branch of insured State bank succeeding national bank ........................................... Branches of insured State banks admitted to Federal Reserve S ystem ...................... Branches transferred as result of merger, consolidation or absorption...................... -1 -2 -2 +2 -2 -2 +2 +2 +25 -2 7 +25 -2 5 -1 +3 + 1 -3 104 FEDERAL DEPOSIT INSURANCE CORPORATION T ab le 102. AN ALYSIS OF CHANGES IN N U M B E R AND CLASSIFICATION OF B A N K S AND B a n k in g O f f ic e s in t h e U n it e d S t a t e s a n d P o sse s sio n s D u r in g 1936— C o n t. Insured Total Total Member F . R . System National State N ot members F. R. System N on insured m u t u a l s a v in g s b a n k in g o f f ic e s N u m b e r o f o ffices , D e c e m b e r 31, 1936.. . N u m b e r o f o ffices, D e c e m b e r 31, 1935.. . N et ch a n g e d u rin g y e a r ........................... 687 690 63 63 63 63 624 627 -3 -3 M U TU A L SAVIN GS B A N K S N u m b e r o f b a n k s, D e c e m b e r 31, 1936. .. N u m b e r o f h a n k s , D e c e m b e r 31, 1935. .. 563 566 56 56 N et c h a n g e d u rin g y e a r ............................ -3 _3 B an ks cea sin g o p e ra tio n s — t o t a l ............... Absorptions— net decrease............................ Other liquidations.......................................... -3 -1 -3 -1 -2 -2 56 56 507 510 B R A N C H E S O R A D D IT IO N A L OFFIC E S OF M U TU A L SAVIN GS B A N K S N u m b e r o f b ra n ch e s, D e c e m b e r 31, 1936 N u m b er o f b ra n ch es, D e c e m b e r 31, 1935 124 124 7 7 7 7 117 117 N et c h a n g e d u r in g y e a r ............................ !Banks without predecessors. The figure for insured banks not members of the Federal Reserve System includes 1 bank which operated for several months, and several others which operated for shorter periods of time, prior to admission to insurance, and also 1 bank organized to take over the certificates of indebtedness of a Morris Plan company in order to convert those obligations into deposits eligible for insurance b y the Federal Deposit Insurance Corporation. 3Figure for insured banks not members of the Federal Reserve System includes 2 banks in receiver ship since 1934 which were reorganized; 1 newly chartered bank organized to take over selected assets and to assume deposit liabilities of a bank in receivership; and 1 bank organized to replace at date of pay-off of insured deposits, without assumption of liabilities or purchase of assets, an insured bank which closed on December 31, 1935. Figure for noninsured banks includes 1 bank in receivership since 1932, and 1 in receivership since 1934, both of which were reorganized. 8Includes 3 cases in which deposits of the “ absorbed” bank were not directly assumed b y the absorbing institution. in clu d es 10 noninsured banks operating under restrictions which were placed in receivership or liquidation. 8Includes 1 bank reorganized under a new charter. •Includes 1 national bank succeeding a Deposit Insurance National Bank. ’ Includes 1 successor bank to a suspended insured bank which did not assume deposit liability, but took over part of the assets and is operated by the same management as the suspended bank; and 1 noninsured bank which succeeded a bank which had been operating under restrictions. in clu d e s 1 case in which a bank successor to an insured bank operated for one month prior to admission to insurance; 1 case in which the successor bank was opened and operated as a noninsured bank for about three months prior to admission to insurance and absorption of the predecessor insured bank; and 1 case in which an insured bank merged under its own name with a trust com pany not engaged in deposit banking* N Table 103. um ber OF OPERATING B a n k in g O FFICES, D EC EM BER 31, 1936 IN SURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND T Y P E OF OFFICE IN EACH S TA TE AND IN T H E POSSESSIONS All banks and banking offices Total In sured Mutual savings banks and banking offices Commercial banks and banking offices Non Total insured Insured Members F. R. System Total Na tional State N ot N on mem bers insured F .R . System Total In sured N on insured Banks and banking offi ces insured as percent of— All Com Mutual bank mercial savings ing banking banking offices offices offices 17,234 13,973 13,119 85k 3,261 6,733 5,325 5,128 197 1,408 2,034 1,051 898 153 983 8,467 7,597 7,093 50k 870 1,282 1,178 1,138 ko 104 687 563 U85 78 124 63 56 52 k 7 624 507 U33 7k 117 90.1 89.3 89.3 88.3 93.7 93.1 92.2 92.0 95.5 96.9 9.2 9.9 10.7 5.1 5.6 U n ite d S ta t e s ........................................................ 19,109 All banka................................................................ 15,679 Unit banks......................................................... l k ,718 961 Banks operating more than one office........... Branches or additional offices........................... 3,430 17,290 14,025 13,169 856 3,265 1,819 1,654 1,51*9 105 165 18,422 15,116 l k ,233 883 3,306 17,227 13,969 13,117 852 3,258 6,733 5,325 5 ,%H8 197 1,408 2,034 1,051 898 153 983 8,460 7,593 7,091 502 867 1,195 1,147 1,116 31 48 687 563 U85 78 124 63 56 52 k 7 624 507 k33 7k 117 90.5 89.5 89.5 89.1 95.2 93.5 92.4 92.2 96.5 98.5 9.2 9.9 10.7 5.1 5.6 P osse ssion s ............... All banks .......................... Unit banks ............................ Banks operating more than one office ......... Branches or additional offices ........................ 94 35 2k 11 59 7 4 2 2 3 87 31 22 9 56 94 35 2k 11 59 7 4 2 2 3 7 4 2 2 3 87 31 22 9 56 7.4 11.4 8.3 18.2 5.1 7.4 11.4 8.3 18.2 5.1 S ta te A la b a m a ............................................................... All banks ........................................... Unit banks . . ................................ Banks operating more than one office. . . . Branches or additional offices .................... 239 218 215 3 21 229 208 205 3 21 10 10 10 239 218 215 3 21 229 208 205 3 21 75 69 68 1 6 19 18 17 1 1 135 121 120 1 14 10 10 10 95.8 95.4 95.3 100.0 100.0 95.8 95.4 95.3 100.0 100.0 A r i z o n a ................................................................ All banks ..................................................... Unit banks . ................... Banks operating more than one office. . . . Branches or additional offices 38 14 9 5 24 38 14 9 5 24 38 14 9 5 24 38 14 9 5 24 25 7 5 2 18 2 2 2 11 5 2 3 6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 A rk a n s a s . . .. ....................................... All banks .................................................... Unit b a n k s ................................................... Banks operating more than one office. . . . Branches or additional offices 230 221 213 8 9 220 211 203 8 9 230 221 213 8 9 220 211 203 8 9 51 50 U9 1 1 7 7 7 162 154 1U7 7 8 95.7 95.5 95.3 100 0 100.0 95.7 95.5 95.3 100.0 100.0 10 10 10 10 10 10 OFFICES 18,516 15,151 1U,257 89k 3,365 BANKING 1,906 1,685 1,571 Ilk 221 OF 17,297 14,029 13,171 858 3,268 NUMBER 19,203 15,714 1U,7U2 972 3,489 Table 103. N um ber OF O p e r a t in g B a n k in g Of f i c e s , D ec em ber 31, 1936— Continued IN SURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND T Y P E OF OFFICE IN EACH S TA TE AND IN T H E POSSESSIONS All banks and banking offices Total N a tional State 1,055 218 181 37 837 138 138 138 7 6 5 1 1 13 13 13 1,062 224 186 38 838 151 151 151 1 055 218 181 37 837 138 138 138 764 108 97 11 656 78 78 78 152 15 7 8 137 5 5 5 206 195 189 6 11 61 48 •41 7 13 52 22 11 11 30 160 158 157 1 2 369 342 330 12 27 109 104 100 u 5 56 44 38 6 12 52 22 11 11 30 153 153 153 97 91 89 2 6 5 4 3 1 1 132 122 117 5 10 58 46 UO 6 12 52 22 11 11 30 160 158 157 1 2 369 342 330 12 27 109 104 100 4 5 56 44 38 6 12 52 22 11 11 30 153 153 153 58 54 51 3 4 16 16 16 6 6 6 286 262 252 10 24 286 262 252 10 24 7 5 1 2 83 80 78 2 3 139 95 77 18 44 55 55 55 26 9 U 5 17 53 53 53 6 4 2 2 2 8 3 1 2 5 4 4 U 45 44 U3 1 1 34 24 20 U 10 18 10 6 \ 8 96 96 96 71 56 53 3 15 29 24 21 3 5 186 182 178 4 4 N on insured Total In sured N on insured 99.3 97.3 97.3 97. U 99.9 91.4 91.4 91.4 7 6 5 1 1 13 13 13 23 18 17 1 5 2 2 2 7 5 •4 1 2 83 80 78 2 3 All Com Mutual bank mercial savings ing banking banking offices offices offices 74 73 72 1 1 3 2 1 1 1 74 73 72 1 1 3 2 1 1 1 .............i .............. 99.3 97.3 97.3 97.U 99.9 91.4 91.4 91.U 52.9 53.3 52.9 66.7 45.5 91.8 91.7 92.7 85.7 92.3 100.0 100.0 100.0 100.0 100.0 95.6 96.8 97.5 82.6 85.2 85.5 80.0 50.0 96.6 95.7 95.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 95.6 96.8 97.5 77.5 76.6 76.U 83.3 88.9 77.5 76.6 76.U 83.3 88.9 CORPORATION 1,062 224 186 38 838 151 151 151 N ot mem bers F .R . System INSURANCE Total Insured Members F. R. System DEPOSIT C o lo r a d o ............................................................... All banks . ... Unit banks . .. Banks operating more than one office. . . . Branches or additional offices...................... C o n n e c t i c u t ........................................................ All banks............................................................ Unit banks..................................................... Banks operating more than one office........ Branches or additional offices...................... D e la w a r e ............................................................... All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices . D is tr ic t o f C o lu m b ia ...................................... All banks . ........................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... F lo r id a ................................................................... All banks............................................................ Unit banks ................................................. Banks operating more than one office. . . . Branches or additional offices...................... G e o r g ia .................................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... Non insured Banks and banking offi ces insured as percent of— FEDERAL T otal In sured Mutual savings banks and banking offices Commercial banks ;and banking offices 36 20 16 k 16 24 10 9 1 14 Illin o is............................................................. All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ 881 881 881 863 863 863 18 18 18 881 881 881 863 863 863 307 307 307 75 75 75 481 481 U81 In d ian a................................................................. All banks............................................................ Unit banks..................................................... Banks operating’ more than one office. . . . Branches or additional offices....................... 583 530 U97 33 53 541 489 U57 32 52 42 41 UO 1 1 578 525 Jt-92 33 53 537 485 k53 32 52 132 124 118 6 8 20 8 7 1 12 Iow a........................................................................ All banks............................................................ Unit banks..................................................... Banks operating more than one office Branches or additional offices...................... 810 671 567 10 k 139 722 589 U89 100 133 88 82 78 k 6 810 671 567 10k 139 722 589 k89 100 133 113 113 113 30 30 30 K an sa s............................................................ All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ 706 706 706 460 460 U60 246 246 21*6 706 706 706 460 460 k60 188 188 188 17 17 17 K entucky.............................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office Branches or additional offices...................... 461 433 U19 1U 28 414 386 372 1U 28 47 47 U7 461 433 kl9 lk 28 414 386 372 lk 28 117 100 97 3 17 Louisiana.............................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office Branches or additional offices...................... 199 146 120 26 53 197 144 118 26 53 2 2 2 199 146 120 26 53 197 144 118 26 53 M a in e................................................................ Ail banks....................................................... Unit banks................................................. Banks operating more than one office. . Branches or additional offices.................. 163 103 81 22 60 120 68 52 16 52 43 35 29 6 8 129 71 51 20 58 M aryland.............................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 291 197 171 26 94 263 185 161 2k 78 28 12 10 2 16 263 185 161 2k 78 22 96.5 94.3 93.6 96.5 94.3 93.6 18 18 18 98.0 98.0 98.0 98.0 98.0 98.0 385 353 828 25 32 41 40 39 92.8 92.3 92.0 97.0 98.1 92.9 92.4 92.1 97.0 98.1 579 446 3U6 88 82 78 k 89.1 87.8 89.1 87.8 96.2 95.7 96.2 95.7 255 255 255 246 246 65.2 65.2 65.2 65.2 65.2 65.2 13 11 9 2 2 284 275 266 9 9 47 47 U7 89.8 89.1 89.8 89.1 57 30 2k 6 27 6 5 k 1 1 134 109 90 19 25 99.0 98.6 98.3 99.0 98.6 98.3 114 62 k6 16 52 44 40 37 3 4 31 5 1 k 26 39 17 73.6 66.0 6^.2 88.4 87.3 90.2 80.0 89.7 261 183 159 2k 78 70 63 61 2 7 54 11 5 6 43 137 109 93 16 28 90.4 93.9 99.2 98.9 98.8 20 19 1 2 100 133 22 100.0 100.0 100.0 100.0 1 1 86.2 6 80.0 80.0 80.0 86.2 88.8 88.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 34 32 30 2 2 28 12 10 28 26 72.7 86.7 94.2 92.3 83.0 100.0 100.0 17.6 18.8 20.0 7.1 16.7 20.0 107 82 50 kk 6 32 OFFICES 85 53 U7 6 32 BANKING 3 3 3 OF 82 50 U 6 32 NUMBER 85 53 U7 6 32 Id a h o .................................................... All banks........................................... Unit banks.................................... Banks operating more than one c Branches or additional offices. . . Table 103. Num ber OF O p e r a t in g B a n k in g O f f i c e s , D e c e m b e r 31, 1936— Continued IN SURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TY P E OF OFFICE IN EACH S TA TE AND IN T H E POSSESSIONS All banks and banking offices State 46 46 U6 98.1 97.5 96.9 100.0 99.1 91.5 89.5 89.2 92.9 98.1 94.5 94.5 9k-k 100.0 100.0 95.6 94.7 9U.1 100.0 100.0 93.1 93.1 93.1 53 53 53 1 1 1 99.2 99.2 99.2 99.2 99.2 99.2 229 229 229 60 60 60 86.3 86.2 86.1 100.0 100.0 86.3 86.2 86.1 100.0 100.0 55 40 30 10 15 294 254 239 15 40 437 437 U37 3 3 3 42 624 624 62U 51 51 51 210 169 1 Jf.8 21 41 487 487 1+87 120 120 120 119 119 119 45 45 U5 21 21 21 439 436 U33 3 3 379 376 373 3 3 138 135 132 3 3 12 12 12 232 198 173 25 34 55 52 U9 3 3 38 38 38 315 202 160 46 46 U6 113 649 495 h53 U2 154 692 686 68U 2 6 250 208 186 22 42 670 670 670 120 120 120 119 119 119 1 1 1 439 436 k33 S 3 379 376 373 3 3 60 60 60 309 197 155 1+2 112 594 443 kOh 39 151 654 648 6W 2 6 239 197 175 Com Mutual All bank mercial savings banking banking ing offices offices offices N on insured 57.1 49.9 U7.3 62.7 76.7 91.5 89.5 89.2 92.9 98.1 94.5 94.5 9U-5 100.0 100.0 95.6 94.7 9U-1 100.0 100.0 93.1 93.1 93.1 65 29 15 n 36 162 106 95 11 56 14 14 1U 309 197 155 U2 112 594 443 m 39 151 655 649 61+7 2 6 239 197 175 22 42 624 624 62U In sured Total 6 5 5 1 55 52 U9 3 3 38 38 38 11 11 11 226 193 168 25 33 226 193 168 25 33 1 1 1 1 1 1 100.0 100.0 100.0 CORPORATION All banks Unit banks Banks operating more than one office. . . . Branches or additional offices...................... N a tional 189 128 110 18 61 138 83 70 13 55 203 197 195 2 6 26 25 2k 1 1 86 86 86 541 395 328 67 146 649 495 U53 U2 154 693 687 685 2 6 250 208 186 22 42 670 670 670 11 11 11 Total N ot N on mem insured bers F .R . System INSURANCE M o n ta n a All banks Unit banks Banks operating more than one office. . . . Total Insured Members F. R. System Banks and banking offi ces insured as percent of— DEPOSIT Banks operating more than one office. . . . M ic h ig a n All banks Unit banks Banks operating more than one office. . . . Brd>nch6S or &dcli^ion£il offic0S M in n e s o ta ..................... All banks . ..................... Unit banks ..................... Banks operating more than one office. . . . Branches or additional offices M ississip p i All banks Unit banks Banks operating more than one office. . . . Branches or additional offices M is so u r i All banks Unit banks Banks operating more than one office. . . . N on insured Mutual savings banks and banking offices FEDERAL Total In sured Commercial banks and banking offices N e v a d a ................................................................... All banks............................ ............................... Unii banks..................................................... Banks operating more than one office. . . . 10 9 8 1 1 45 44 us 1 1 122 97 8J, 13 25 6 6 6 29 25 22 3 4 22 22 22 116 55 33 22 61 4 4 U 19 14 10 k 5 1 1 1 1,389 758 673 85 631 638 455 U26 29 183 502 120 82 38 382 249 183 165 18 66 26 26 2U 2 344 239 197 U2 105 335 232 191 U1 103 49 43 bl 2 6 16 9 7 2 7 270 180 1U3 37 90 208 198 188 10 10 193 183 173 10 62 61 60 1 1 21 21 21 882 711 676 35 171 861 690 655 35 171 282 249 2U 8 33 18 18 18 403 403 1+03 385 385 385 214 214 21U N ew H a m p s h ir e ................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 112 109 106 3 3 57 56 55 1 1 55 53 51 2 2 67 65 63 2 2 57 56 55 53 52 51 1 1 N ew J e r s e y .......................................................... All banks............................................................ Unit banks..................................................... Banks operating more than, one office. . . . Branches or additional offices....................... 539 416 362 5U 123 520 399 3A6 53 121 19 17 16 1 2 510 391 31+0 51 119 504 385 S3U 51 119 266 233 217 16 33 N ew M e x ic o ......................................................... All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 46 41 37 U 5 45 40 36 A 5 1 1 1 46 41 37 k 5 45 40 36 N ew Y o r k ............................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 1,597 919 795 12U 678 1,392 760 67 A 86 632 205 159 121 38 46 1,415 784 697 87 631 N o rth C a r o lin a .................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 344 239 197 U2 105 335 232 191 9 7 6 1 2 N o rth D a k o t a ..................................................... All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 208 198 188 10 10 193 183 173 10 10 15 15 15 O h io ........................................................................ All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 885 714 679 35 111 864 693 658 35 171 O k la h o m a ............................................................ All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... 403 403 U03 385 385 385 103 ' 2 8 1 1 k 13 5 3 2 8 5 10 16 14 12 2 2 80.0 66.7 60.0 100.0 100.0 80.0 66.7 60.0 100.0 100.0 45 44 U3 1 1 50.9 51.4 51.9 33.3 33.3 85.1 86.2 87.3 50.0 50.0 13 11 10 1 2 96.5 95.9 95.6 98.1 98.4 98.8 98.5 98.2 100.0 100.0 97.8 97.6 97.3 100.0 100.0 97.8 97.6 97.3 100.0 100.0 87.2 82.7 8U.8 69.U 93.2 98.2 96.7 96.6 97.7 100.0 9 7 6 1 2 97.4 97.1 97.0 97.6 98.1 97.4 97.1 97.0 97.6 98.1 131 122 113 9 9 15 15 15 92.8 92.4 92.0 100.0 100.0 92.8 92.4 92.0 100.0 100.0 192 75 63 12 117 387 366 351 15 21 21 21 21 97.6 97.1 96.9 100.0 100.0 97.6 97.0 96.9 100.0 100.0 3 3 3 168 168 168 18 18 18 95.5 95.5 95.5 95.5 95.5 95.5 \ 182 135 98 37 47 3 3 3 3 2 1 1 1 3 3 3 179 133 97 36 46 55.2 56.0 5 A.5 66.7 50.0 1.6 1.5 1.0 2.7 2.1 100.0 100.0 100.0 109 16 8 6 OFFICES 3 3 3 20 12 10 2 8 BANKING 1 1 1 4 4 U OF 4 4 h 16 8 6 2 8 NUMBER 3 3 3 20 12 10 2 8 Table 103. N um ber OF O p e r a t in g B a n k in g O f f i c e s , D ec em ber 31, 1936— Continued IN SURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TY P E OF OFFICES IN EACH S TA TE AND IN T H E POSSESSIONS All banks and banking offices 88 U 50 ,231 .,119 ,073 U6 112 72 32 20 6 22 210 U0 95 44 16 141 91 87 k 50 1,211 1,112 1,070 U2 99 61 23 10 6 12 11 10 6 38 173 151 1U5 28 133 111 105 138 88 8U k 50 1,179 1,084 1,0U 28 133 111 105 6 22 6 22 209 190 191 183 8 19 362 314 29k 19 352 304 28k 20 20 48 904 904 90k 48 800 800 800 210 191 183 104 104 10h 137 87 83 k 50 1,177 1,082 1,0U2 hO 95 44 16 6 22 209 190 182 8 8 19 362 314 19 352 304 48 904 904 90k 48 800 800 800 Na tional State 86 N ot mem bers F. R . System N on insured Total 1 15 63 48 kk k 15 90 72 67 5 18 456 456 U56 2 19 5 4 3 93 87 83 6J, 13 40 21 1 1 23 23 23 1 1 1 U 20 7 3 k 13 11 5 10 40 40 AO 15 30 293 293 100.0 95.8 96.9 97.3 87.0 84.8 61.1 50.0 50.0 50.0 70.0 76.9 73.5 72.U 100.0 100.0 99.5 99.5 99.5 6 123 119 115 k 4 257 227 100.0 212 51 51 51 Com Mutual All bank mercial savings banking banking ing offices offices offices 100.0 2 2 313 297 287 10 16 3 2 117 77 N on insured 97.2 95.7 95.5 46 44 U2 48 747 708 691 17 39 20 12 9 3 8 35 20 19 In sured 104 104 10k 100.0 97.2 96.8 96.6 100.0 100.0 88.5 88.5 88.5 97.2 95.6 95.U 100.0 100.0 97.2 97.3 97.U 95.2 96.0 72.1 69.6 83.3 51+.5 73.7 76.9 73.5 72.U 100.0 100.0 99.5 99.5 99.5 100.0 100.0 97.2 96.8 96.6 100.0 100.0 88.5 88.5 88.5 100.0 100.0 100.0 10.0 28.6 66.7 CORPORATION 12 40 173 151 1J+5 Total INSURANCE 142 92 Total DEPOSIT O r e g o n ............................................................ All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ P e n n s y lv a n ia ................................................ All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ R h o d e I s l a n d ................................................ All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ S o u t h C a r o lin a ............................................ All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ S o u t h D a k o t a .............................................. All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ T e n n e s s e e ...................................................... All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ T e x a s ................................................................ All banks...................................................... Unit banks............................................... Banks operating more than one office. Branches or additional offices................ In sured Insured Members F. R System Banks and banking offi ces insured as percent of— FEDERAL Total Non insured Mutual savings banks and banking offices Commercial banks and banking offices 69 59 55 69 59 55 69 59 55 105 89 80 9 16 389 321 281 105 89 80 9 16 387 320 281 39 67 87 75 67 87 75 67 U 10 1>0 68 k 10 221 174 166 47 188 186 18U 47 177 175 173 8 2 2 2 2 694 588 520 68 106 58 58 58 389 321 281 8 12 228 181 173 387 320 281 39 67 218 171 163 47 188 186 18 h 47 177 175 173 uo 68 8 2 2 708 600 530 70 108 58 58 58 8 2 2 690 584 516 68 106 58 58 58 28 27 26 1 1 43 33 27 18 14 13 1 4 6 29 24 22 2 5 32 27 26 1 5 19 19 19 10 211 164 13 U 30 47 90 88 86 2 2 79 77 75 18 14 13 1 4 2 1 1 1 10 10 10 99 99 100 97 117 105 103 2 12 26 26 26 29 23 19 U 6 9 9 9 39k 3 3 3 11 11 11 18 16 n 2 2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 4 4 U 4 4 U 95. 94. 9U. 100.0 100.0 94.1 94.1 91+.0 100.0 100.0 97.5 97.4 97.U 97.1 98.1 100.0 100.0 99.5 99.7 97.5 95.6 94.5 9U.2 100.0 100.0 .............|.............. 100.0 100.0 100.0 94.1 94.1 91+.0 100.0 100.0 97.5 97.3 97.h 97.1 98.1 100.0 100.0 100.0 100.0 23 23 23 100.0 100.0 100.0 100.0 100.0 100.0 98.5 3 3 3 2 2 544 456 100 100 100 100 100 100 100 100 100 100 100.0 100.0 100.0 OFFICES 712 604 53U 70 108 58 58 58 8 8 12 U 10 19 19 19 BANKING 231 184 176 h 10 22 13 10 3 9 44 42 U0 2 2 147 132 125 7 15 96 56 51 5 40 79 79 79 OF 69 59 55 NUMBER U t a h ....................................................................... All banks............................................................ Unit banks..................................................... Banks operating more than one office Branches or additional offices...................... V e r m o n t ............................................................... All banks............................................................ Unit banks...................................................... Banks operating more than one office Branches or additional offices...................... V ir g in ia ................................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... W a s h in g t o n ........................................................ All banks............................................................ Unit banks..................................................... Banks operating more than one office. . . . Branches or additional offices...................... W e st V ir g in ia ..................................................... All banks............................................................ Unit banks..................................................... Banks operating more than one office Branches or additional offices...................... W is c o n s in ............................................................ All banks............................................................ Unit banks..................................................... Banks operating more than one office Branches or additional offices...................... W y o m in g .............................................................. All banks............................................................ Unit banks..................................................... Banks operating more than one office Branches or additional offices...................... Table 104. N U M BER OF OPERATING BANKING O FFICES, D EC EM BER 31, 1936 IN SURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK, TY P E OF OFFICE, AND AMOUNT OF DEPOSITS All banks and banking offices In sured Noninsured1 Total Insured Members F. R. System Total N a tional State 687 In sured N on insured 63 624 1 2 72.1 89.8 94.8 72.1 89.8 94.9 ‘ 42.9 ’ 53 129 21 96.1 96.2 91.7 96.7 98.1 98.0 27.6 18.5 9.8 11 6 6 1 104 158 35 117 85.2 71.5 77.5 72.4 99.2 96.2 97.7 81.9 9.6 3.7 14.6 .8 56 507 89.3 92.2 9.9 1 2 69.5 89.1 94.4 69.5 89.2 94.5 ' 33.3 ‘ 21 95.4 95.0 96.1 97.5 97.2 25.0 14.5 9.8 81.0 65.2 75.0 98.9 95.0 97.3 9.6 3.7 12.5 17,297 1,906 18.516 17,234 6,733 2,034 8,467 1,282 B a n k in g o ffice s w ith d ep o sits o f — $100,000 and un d er........................................ $100,000 to $250,000...................................... $250,000 to $500,000...................................... 1,253 3,469 3,814 904 3,115 3,615 349 354 199 1,250 3,467 3,807 902 3,115 3,612 56 503 1,229 16 237 102 830 2,510 2,146 348 352 195 $500,000 to $1,000,000.................................. $1,000,000 to $2,000,000............................... $2,000,000 to $5,000,000............................... 3,474 2,658 2,010 3,339 2,556 1,843 135 3,445 2,593 1,867 3,331 2,544 1,829 1,596 1,380 1,045 374 397 405 1,361 767 379 114 49 38 29 65 143 8 12 14 $5,000,000 to $10,000,000............................. $10,000,000 to $50,000,000........................... Over $50,000,000............................................. None or not available.................................... 737 613 169 1,006 628 438 131 728 109 175 38 278 622 449 128 617 432 125 727 358 245 69 252 166 139 51 147 93 48 5 328 5 17 3 161 115 164 41 118 A ll b a n k s ............................................................ 15,714 14,029 1,685 15,151 13,973 5,325 1,051 7,597 1,178 563 1,146 3,258 3,550 797 2,904 3,351 349 354 199 1,143 3,256 3,544 795 2,904 3,349 49 477 1,105 80 188 736 2,347 2,056 348 352 195 $500,000 to $1,000,000.................................. $1,000,000 to $2,000,000............................... $2,000,000 to $5,000,000............................... 2,928 2,051 1,496 2,793 1,949 1,329 135 2,900 1,989 1,353 2,786 1,940 1,315 1,313 1,058 796 166 171 1,263 716 348 114 49 38 28 62 143 53 129 $5,000,000 to $10,000,000............................. $10,000,000 to $50,000,000........................... Over $50,000,000............................................. N one or not a va ilable.................................... 573 503 152 57 464 328 114 109 175 38 57 458 339 453 322 109 283 185 59 93 45 82 44 5 5 17 3 57 115 164 40 104 158 35 B an k s $100,000 $100,000 $250,000 w ith d a ily average d e p o sits o f — and u n d er........................................ to $250,000...................................... to $500,000...................................... 102 102 167 112 57 10 210 3 2 4 7 4 66.7 66.7 CORPORATION 93.1 19,203 INSURANCE 90.1 A ll b a n k in g o ffi c e s ........................................... 167 Com Mutual All bank mercial savings banking banking ing offices offices offices DEPOSIT N ot Non mem Total bers insured1 F. R. System Banks and banking offices insured as percent of— FEDERAL Total Mutual savings banks and banking offices Commercial banks and banking offices Unit b anks............................................................. 14,742 13,171 1,571 4,257 13,119 5,128 898 7,093 1,138 485 52 433 89.3 92.0 10.7 1,139 3,208 3,433 791 2,854 3,241 348 354 192 ,136 206 5,427 789 2,854 3,239 49 475 1,104 10 79 187 730 2,300 1,948 347 352 188 3 2 6 2 1 2 4 69.4 88.9 94.4 69.4 89.0 94.5 66.7 2 $50,000 to $1,000,000...................................... $1,000,000 to $2,000,000................................. $2,000,000 to $5,000,000................................. $5,000,000 to $10,000,000.............................. $10,000,000 to $50,000,000............................. Over $50,000,000............................................... N one or not available...................................... 2,781 1,936 1,366 457 319 48 55 2,650 1,845 1,214 359 185 32 131 91 152 98 134 16 55 ,753 ,878 ,230 352 191 29 55 2,643 1,836 1,200 349 181 28 1,304 1,049 767 236 124 20 209 159 150 56 40 8 1,130 628 283 57 17 110 42 30 3 10 1 55 28 58 136 105 128 19 7 9 14 10 4 4 21 49 122 95 124 15 95.3 95.3 88.9 78.6 58.0 66.7 96.0 97.8 97.6 99.1 94.8 96.6 25.0 15.5 10.3 9.5 3.1 21.1 B an ks o p e ra tin g m o r e th a n o n e o ffice .. 972 858 114 894 854 197 153 504 40 78 4 74 88.3 95.5 5.1 B an k s w ith d a ily average d e p o sits o f $100,000 and under........................................... $100,000 to $250,000........................................ $250,000 to $500,000........................................ 7 50 117 6 50 110 1 ••-j 7 50 117 6 50 110 2 1 1 1 6 47 108 7 85.7 100.0 94.0 85.7 100.0 94.0 $500,000 to $1,000,000.................................... $1,000,000 to $2,000,000................................. $2,000,000 to $5,000,000................................. 147 115 130 143 104 115 147 111 123 143 104 115 9 9 29 1 7 21 133 88 65 4 7 8 4 7 97.3 90.4 88.5 97.3 93.7 93.5 $5,000,000 to $10,000,000............................... $10,000,000 to $50,000,000............................. Over $50,000,000............................................... None or not available...................................... 116 184 104 105 143 82 106 148 83 2 104 141 81 47 61 39 32 53 37 25 27 5 2 7 2 2 10 36 21 1 2 1 9 34 20 90.5 77.7 78.8 98.1 95.3 97.6 10.0 5.6 4.8 3,489 3,268 1,365 3,261 1,408 983 870 104 124 7 117 93.7 96.9 5.6 1 1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1 3 1 3 100.0 100.0 100.0 100.0 100.0 100.0 1 118 1 1 100.0 100.0 100.0 76.7 100.0 100.0 100.0 87.5 B an ks $100,000 $100,000 $250,000 w ith d a ily a vera ge d ep o sits o f and un d er........................................... to $250,000........................................ to $500,000........................................ 211 264 107 211 263 107 211 263 7 26 124 6 22 49 94 163 90 $500,000 to $1,000,000. . . $1,000,000 to $2,000,000. $2,000,000 to $5,000,000. 546 607 514 546 607 514 545 604 514 545 604 514 283 322 249 164 231 234 98 51 31 $5,000,000 to $10,000,000. . $10,000,000 to $50,000,000. Over $50,000,000................... N one or not ava ilab le........... 164 164 17 949 17 728 164 110 16 831 164 110 16 727 75 60 10 252 78 46 6 147 11 4 264 110 110 d e p o s it s of noninsured banks are as of December 31, 1936. 221 328 104 117 OFFICES 107 211 BANKING 107 11 22 2 221 41 4 7 OF B ra n ch es o r a d d it io n a l o ffice s w ith d e p o sits o n D e c e m b e r 31, 1936, o f— $100,000 and un d er............................................. $100,000 to $250,000.......................................... $250,000 to $500,000.......................................... 2 15 NUMBER B ra n ch es or a d d it io n a l o f fic e s ..................... 4 11 1 33.3 100.0 100.0 100.0 .8 See also the N O TE on page 124. CO Table 105. N u m b e r OF OPERATING COMMERCIAL BA NKS, D EC EM BER 31, 1936 IN SU R ED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH S TA TE AND IN T H E POSSESSIONS Banks with daily average deposits, or with deposits on December 31, 1936, of— 1 All banks $100,000 and under $100,000 to $250,000 $250,000 to $500,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 Over to to to to to $50,000,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000 None or not available 112 109 3 57 336 322 112 109 3 56 1,143 795 348 3,256 2,904 352 3,544 3,349 195 2,900 2,786 114 1,989 1,940 49 1,353 1,315 38 U n ited S ta t e s ............................................. 15,116 13,969 1.147 1,140 795 345 3.255 2,904 351 3,542 3,349 193 2,893 2,786 107 1,981 1,936 45 1,344 1,315 29 35 4 31 3 1 2 7 9 1 3 1 3 1 2 7 8 4 4 9 1 3 1 218 208 10 14 14 24 21 3 68 65 3 1 1 59 57 2 32 30 2 3 3 19 19 11 11 1 1 5 5 3 3 1 1 221 211 10 224 218 6 151 138 13 45 41 4 3 2 1 14 11 3 67 62 5 14 13 1 33 28 5 52 51 1 49 49 28 28 17 17 5 5 5 5 2 2 57 57 3 3 12 11 1 5 5 11 .............11 30 28 2 34 32 2 9 9 9 9 34 31 3 35 34 1 22 22 122 104 18 46 44 2 22 22 3 2 1 4 3 1 8 7 1 5 5 13 7 6 11 10 1 1 1 15 14 1 10 10 27 23 4 7 7 30 28 2 4 4 14 13 1 2 2 11 9 2 3 3 1 1 1 1 2 2 4 4 6 6 6 6 2 2 158 153 5 342 262 80 9 8 1 90 42 48 37 37 27 26 1 37 37 30 29 1 24 23 1 13 13 3 3 7 7 13 13 3 3 2 2 Noninsured ban ks................................. P o s se s sio n s .................................................. 32 30 2 90 75 15 70. 65 5 457 453 4 14 4 4 57 56 1 1 CORPORATION C o n n e c t i c u t ............................................. Insured banks .................................... Noninsured banks ............. D ela w a re ............................................. Insured banks . ................... Noninsured banks .................... D is tr ic t o f C o lu m b i a ............... Insured banks .................................... Noninsured ban ks................................. F lorid a .................................... Insured banks .................................... Noninsured banks G e o r g ia ....................................................... Insured banks ................................ Noninsured banks................................. 17 INSURANCE S ta te A la b a m a ..................................................... Insured banks......................................... Noninsured banks ................... A r iz o n a ................... ............... Insured banks......................................... Noninsured banks ................. A r k a n s a s ............. ............... Insured b a n k s.. ............................ Noninsured banks ............... C a lifo r n ia ............ ...................... Insured banks . ............. Noninsured banks ......... C o l o r a d o .................................................. Insured banks .................................... Noninsured banks 458 453 5 1 1 2 2 DEPOSIT 15,151 13,973 1,178 FEDERAL 339 322 U n ite d S ta tes a n d p ossession s— t o t a l Insured banks........................................ Noninsured ban ks................................. 11 11 15 15 37 33 4 22 15 7 12 3 9 110 38 72 197 193 4 128 110 18 164 139 25 262 158 104 219 213 6 144 134 10 213 189 24 165 118 47 433 386 47 146 144 2 71 62 9 185 183 2 202 197 5 52 30 22 9 8 1 116 106 10 28 28 495 443 52 686 648 38 208 197 11 670 624 46 120 119 1 5 4 1 2 181 180 105 104 86 84 92 89 3 169 147 13 90 72 18 82 81 35 34 81 77 4 52 47 5 21 20 89 80 9 41 41 48 46 20 20 13 11 17 16 20 18 43 43 33 33 15 15 1 1 1 2 35 35 12 12 1 1 20 20 2 2 36 36 97 93 4 34 33 1 9 6 3 38 38 1 1 3 3 14 14 34 33 40 39 60 59 27 27 16 7 9 49 35 14 15 13 2 104 85 19 7 6 1 98 86 12 189 175 14 51 48 3 221 201 20 30 30 150 141 9 229 225 4 57 55 2 148 143 5 32 32 88 85 3 132 129 3 42 39 3 91 89 59 56 3 52 50 38 37 18 18 25 24 25 24 12 12 45 45 32 32 1 1 2 1 2 24 24 2 16 16 15 15 1 1 2 1 2 1 1 1 17 17 15 is' OFFICES M i c h ig a n ................. Insured b a n k s.. . . Noninsured banks. M in n e s o t a ............... Insured b a n k s.. . . Noninsured banks. M is s ip p i................... Insured b a n k s.. . . Noninsured banks. M is s o u r i................... Insured b a n k s... . Noninsured banks. M o n t a n a .................. Insured banks. . . . Noninsured banks, 11 11 BANKING K e n tu c k y ................. Insured b a n k s.. . . Noninsured banks L o u is ia n a ................ Insured b a n k s.. . . Noninsured banks M a i n e ........................ Insured b a n k s.. . . Noninsured banks M a r y la n d ................. Insured banks. . . . Noninsured banks M a ssa ch u setts. . . . Insured b a n k s.. Noninsured banks 3 3 OF 53 50 3 881 863 18 525 485 40 671 589 82 706 460 246 NUMBER I d a h o ......................... Insured b a n k s.. .. Noninsured banks I l li n o is ...................... Insured b a n k s.. .. Noninsured banks I n d ia n a .................... Insured b a n k s.. . . Noninsured banks I o w a ........................... Insured b a n k s.. .. Noninsured banks K a n s a s ...................... Insured b a n k s.. . . Noninsured banks Table 105. N u m b e r OF O p e r a t in g C o m m e r c ia l B a n k s , D e c e m b e r 31, 1936— Continued IN SURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH S TA TE AND IN T H E POSSESSIONS Banks with daily average deposits, or with deposits on December 31, 1936, o f All banks O re g o n Insured banks........ Noninsured banks. P e n n s y lv a n ia ........... Insured banks........ Noninsured banks. R h o d e I s la n d ........... Insured banks........ Noninsured banks. 91 87 4 1,112 1,082 30 23 16 7 165 141 24 125 116 9 4 8 1 1 3 13 12 4 65 56 9 391 385 1 36 3G 6 56 55 1 2 2 20 17 3 83 81 2 21 20 1 3 3 28 27 118 118 1 11 10 41 40 1 1 17 14 3 59 50 9 7 6 1 45 39 6 36 33 3 60 59 123 121 173 172 172 171 152 146 56 55 35 35 39 39 20 19 74 70 4 100 90 10 139 129 10 38 37 195 187 176 174 113 113 77 77 108 106 53 53 1 2 1 1 8 2 26 24 26 26 71 69 170 166 4 2 2 1 2 1 36 6 31 28 3 2 2 1 6 6 21 21 21 21 5 4 276 269 7 3 249 246 3 5 1 4 None or not available CORPORATION 784 758 26 239 232 7 198 183 15 711 690 21 403 385 18 50 25 25 $1,000,000 $2,000,000 $5,000,000 $10,000,000 $500,000 Over to to to to to $50,000,000 $1,000,000 $2,000,000 $5,000,000 $ 10, 000,000 $50,000,000 1 217 217 INSURANCE N ew Y o r k ................... Insured banks........ Noninsured banks. N o rth C a rolin a Insured banks........ Noninsured banks. N o rth D a k o t a .......... Insured banks........ Noninsured banks. O h i o ............................. Insured banks........ Noninsured banks. O k la h o m a ................. Insured banks........ Noninsured banks. $250,000 to $500,000 DEPOSIT 436 376 60 12 $100,000 to $250,000 FEDERAL N e b ra sk a .................... Insured banks........ Noninsured banks. N e v a d a ........................ Insured banks........ Noninsured banks. N ew H a m p s h ire Insured banks........ Noninsured banks. N ew J e r s e y ................ Insured banks........ Noninsured banks. N ew M e x ic o ............... Insured ban ks........ Noninsured banks. $100,000 and under 32 31 1 5 13 13 33 25 38 38 88 T e n n e s s e e .................. Insured banks........ Noninsured banks. T e x a s ............................ Insured banks......... Noninsured ban ks. U t a h ............................. Insured banks........ Noninsured banks. V e r m o n t .................... Insured banks......... Noninsured banks. V ir g in ia ...................... Insured banks........ Noninsured banks. 314 304 54 48 904 800 104 59 59 115 87 28 321 320 14 14 51 51 74 74 91 90 W a s h in g t o n .............. Insured banks........ Noninsured b an k s. W e st V ir g in ia ........... Insured banks........ Noninsured b an k s. W is c o n s in .................. Insured banks........ Noninsured banks. W y o m in g .................... Insured banks......... Noninsured banks. 181 171 15 13 35 33 45 44 42 40 3 125 123 47 44 3 173 167 7 7 17 17 49 46 3 147 143 4 13 13 1 10 22 22 6 1 1 30 26 4 31 31 19 15 4 15 14 12 12 97 95 65 65 49 48 27 26 244 211 33 223 208 15 155 145 10 11 11 70 68 2 8 75 75 1 186 175 11 600 584 16 58 58 1 17 17 2 2 1 1 18 15 3 4 4 2 25 22 2 1 6 2 1 2 10 10 2 2 2 19 19 20 20 1 2 49 49 27 27 24 22 2 29 29 27 26 77 77 42 41 1 Deposits of insured banks are daily averages for the year; those of noninsured banks are as of December 31, 1936. 46 44 14 14' OF 10 21 21 1 13 11 1 1 6 6 See also the N OTE on page 124. OFFICES 44 BANKING 151 111 40 191 190 NUMBER S o u t h C a rolin a Insured banks........ Noninsured banks. S o u t h D a k o t a .......... Insured banks........ Noninsured banks. Table 106. N u m b e r OF OPERATING M U TU A L SAVINGS BA NKS, D EC EM BER 31, 1936 IN SURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH S TA TE Banks with daily average deposits, or with deposits on December 31, 1936, of— 1 All banks Noninsured ban ks.......................................................... 563 56 507 $100,000 to $250,000 $250,000 to $500,000 3 2 1 2 6 2 4 2 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 Over to to to to to $1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000 $50,000,000 28 7 21 62 9 53 143 14 129 115 11 104 164 6 158 S ta te 11 22 17 19 1 3 11 22 17 1 19 1 1 1 1 1 2 1 1 2 2 8 1 12 2 10 1 3 1 2 1 2 5 1 1 1 1 5 1 2 5 4 1 32 6 26 12 2 10 1 1 1 1 6 3 3 2 2 1 8 2 193 1 1 7 15 56 49 57 7 193 1 1 1 1 7 15 56 49 57 7 1 1 44 1 7 11 17 4 4 44 25 14 11 135 2 133 1 1 1 7 1 1 1 11 2 1 1 6 17 3 2 1 21 4 8 5 3 26 4 9 4 5 58 1 23 1 6 2i 26 58 21 1 2 CORPORATION 3 73 2 INSURANCE M a s s a c h u s e tts .................................................................. Insured banks.................................................................. Noninsured ban ks.......................................................... M in n e s o t a ........................................................................... Insured banks.................................................................. Noninsured ban ks.......................................................... New H a m p s h ir e ................................................................ Insured banks.................................................................. Noninsured banks........................................................... N ew Jersey ....................................................................... Insured b a n k s ................................................................ Noninsured banks ...................................................... N ew Y o r k ............................................... ....................... Insured banks.................................................................. Noninsured banks........................................................... 73 DEPOSIT Insured banks.................................................................. Noninsured ban ks.......................................................... D e la w a r e .............................................................................. Insured banks.................................................................. Noninsured banks.......................................................... I n d ia n a ................................................................................ Insured banks.................................................................. Noninsured banks.......................................................... M a in e .................................................................................... Insured banks.................................................................. Noninsured ban ks.......................................................... M a r y la n d ............................................................................. Insured banks.................................................................. Noninsured banks ........................................................ 40 5 35 FEDERAL U n ite d S ta tes— t o t a l .......................................................... $100,000 and under O h io ............................. Insured banks........ Noninsured banks. O regon........................ Insured banks......... Noninsured banks. Pennsylvania............ Insured banks......... Noninsured banks. Rhode Islan d ........... Insured banks........ Noninsured banks. V erm on t..................... Insured banks........ Noninsured banks. NUMBER W ash in gto n.............. Insured banks......... Noninsured ban ks. W isconsin.................. Insured banks........ Noninsured ban ks. OF d e p o s it s of insured banks are daily averages for the year; those of noninsured banks are as of December 31, 1936. BANKING OFFICES 119 See also the N O TE on page 124. T a b le 107.— NUMBER OF COMMERCIAL BANKS OPERATING MORE THAN ONE OFFICE AND N u m b e r o f B r a n c h e s o r A d d i t i o n a l O f f i c e s O p e r a t e d , D e c e m b e r 31, 1936 GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM, LOCATION OF BRANCHES OR ADDITIONAL OFFICES, POPULATION OF CENTER IN WHICH LOCATED, AND BY STATES Location of branches or additional offices2 Character of branch system1 1 000 to 2,500 . . . 2,500 to 5,000..................................................................... 5,000 to 10,000................................................................... 116 88 48 10,000 to 25,000................................................................. 25,000 to 50,000................................................................ 50,000 and o v e r................................................................... 68 58 334 S ta te Alabam a................................................................................. Arizona................................................................................... Arkansas................................................................................ California............................................................................... Colorado .............................................................................. 3 5 8 38 C onnecticut........................................................................... Delaware ............................................................................. District of C olum bia.......................................................... Florida ............................................................................... Georgia................................................................................... 5 6 11 1 12 Idaho ................................................................................. Illinois .................................................................................. I n d ia n a ................................................................................. K ansas................................................................................... All branches 4 3,306 In head office city 1,634 Elsewhere in head office county Elsewhere in head office State 677 988 73 147 154 40 73 112 385 206 24 36 53 7 21 30 113 220 266 4 5 4 87 65 31 25 18 13 326 202 149 2 5 5 114 55 41 210 142 103 13 24 238 26 21 42 29 13 50 4 147 105 1,778 16 41 1,565 39 20 34 92 44 172 1 3 3 11 1 21 24 9 838 3 8 2 2 5 18 5 7 5 78 13 17 4 519 3 2 11 1 1 1 3 4 2 30 2 4 4 6 2 3 1 7 10 12 30 2 27 11 4 2 12 1 5 32 2 30 9 23 72 1 32 53 139 22 30 104 1 35 288 6 33 104 In more than one State 241 Outside head office State 7 7 CORPORATION 31 57 83 State wide INSURANCE 883 In c e n te r s w it h p o p u la tio n (1930) o f — Under 250 . . ................... ............... 250 to 5 00 ............................................................................. 500 to 1,000 ......................................................................... County wide DEPOSIT T o t a l .......................................................................................... City wide FEDERAL All branch systems 6 K en tu cky........ Louisiana......... M aine............... M aryland........ Massachusetts. 14 26 20 24 42 3 9 34 19 7 9 7 M ichigan......... Minnesota. . . . 42 19 19 154 is ' 42 2 22 Missouri. M ontana. 2 2 6 2 87 42 10 35 67 3 O re g on ............... Pennsylvania... Rhode Isla n d ... South Carolina. South D a k o ta . . 4 42 11 Tennessee. T e x a s......... U ta h ........... V e rm o n t... V irginia. . . 20 6 **4* Washington. . . W est Virginia. W isconsin........ W yom in g......... 1 Excludes 11 branch systems operating in the possessions. 2 Excludes 59 branches located in the possessions. 8 40 2 70 31 3 1 9 15 3 20 1 2 1 2 9 24 7 1 2 6 2 1 1 2 1 20 28 126 6 22 1 4 20' 22’ 2 1 2 5 ‘ 94 24 3 631 105 10 171 606 14 28 8 ‘m ’ 25 24 2 1 37 11 69 7 3 11 84 17 3 10 14 5 7 17 14 48 17 15 16 10 12 68 'Y 22 19 14 47 6 28 29 119 5 50 99 10 5 21 2 4 36 3 13 is ' 5 47 15 'ii' 108 16 2 1 2 35 2 1 9 82 1 74 3 18 27 ’is ' OFFICES N ew Y o r k ......... N orth Carolina. N orth D a k o ta .. O h io .................... O klahom a.......... 6 19 22 BANKING 37 28 53 58 78 113 OF 51 4 1 1 'H' 2 3 1 10 6 1 NUMBER N ebraska............. N e v a d a ................ New Hampshire. N ew Jersey......... N ew M exico. . . . 5 Ta b le 108. N U M B E R OF OPERATING BANKING OFFICES OF IN SU RED COMMERCIAL BANKS, D EC EM BER 31, 1936 GROUPED B Y AMOUNT OF DEPOSITS, TYPE OF OFFICE, AND POPULATION OF CENTER IN WHICH LOCATED All banks and banking offices $100,000 and under $100,000 to $250,000 $250,000 to $500,000 17,234 899 3,095 3,553 3,253 2,500 1,784 500 to 1,0 0 0 .................... 884 1,970 2,679 274 351 184 399 955 973 112 427 987 24 77 323 6 16 52 1 5 4 1,000 to 2 ,5 0 0 ............................................... 2,500 to 5,000................................................. 5,000 to 10,000............................................... 3,355 1,950 1,478 53 11 9 564 92 31 1,267 423 143 1,026 746 398 267 488 570 35 114 279 1 3 12 1 10,000 to 25,000............................................. 25,000 to 50,000............................................ 50,000 and o v e r............................................. 1,288 613 3,017 7 2 8 24 11 46 36 30 128 182 47 430 403 103 595 490 223 633 83 123 347 11 24 337 97 U n it b a n k s ...................................................... 13,119 789 2,854 3,239 2,643 1,836 1,200 349 181 28 B anks in ce n te r s w ith p o p u la tio n (1930) o f — Under 250 ........................................................ 250 to 500 ..................................................... 500 to 1,000.............................................. 746 1,699 2,340 249 315 154 370 895 916 100 403 925 20 64 296 6 16 46 1 5 3 1,000 to 2,500............................................... 2,500 to 5,000................................................. 5,000 to 10,000............................................... 2,928 1,665 1,287 44 7 8 519 79 27 1,189 382 128 919 675 361 230 420 513 27 100 237 2 12 1 10,000 to 25,000............................................. 25,000 to 50,000............................................ 50,000 and o v e r............................................. 1,081 454 919 7 5 17 7 24 31 22 59 160 37 111 359 86 160 428 185 214 72 104 159 7 13 159 28 A ll offices o f b an k s o p e ra tin g m o re th a n o n e o f f ic e ........................ 4,115 110 241 314 610 664 584 220 193 70 O ffices in c e n te r s w ith p o p u la tio n (1930) o f— Under 250 ................................................. 250 to 500 ............................................... 500 to 1,000 ...................................... 138 271 339 25 36 30 29 60 57 12 24 62 4 13 27 6 1 1,000 to 2,500................................................. 2,500 to 5,000................................................. 5 000 to 10,000 ........................................ 427 285 191 9 4 1 45 13 4 78 41 15 107 71 37 37 68 57 8 14 42 1 1 10,000 to 25,000 .......................................... 25,000 to 50,000............................................ 50,000 and o v e r............................................. 207 159 2,098 2 3 7 4 22 5 8 69 22 10 319 44 17 435 62 38 419 11 19 188 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 Over to to to to to $1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000 $50,000,000 B a n k in g o ffice s in c e n te r s w ith p o p u la tio n (1930) o f — 569 68 374 98 1 N ot available 1,109 138 156 141 73 35 52 50 396 DEPOSIT 1 INSURANCE 69 141 73 35 52 50 396 d e p o s its of unit banks are daily averages for the year; those of offices of banks operating more than one office are as of December 31,1936. See also the N OTE on page 124. CORPORATION 1,109 68 138 156 1 FEDERAL 1 4 11 178 122 A ll b a n k in g o ff ic e s ......................................... Banks and banking offices with daily average deposits, or with deposits on December 31, 1936, of __l T a b le 109. N u m b e r OF OPERATING BANKING OFFICES OF INSURED COMMERCIAL BANKS, DECEMBER 31, 1936 GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED, TYPE OF OFFICE, AND POPULATION OF CENTER IN WHICH LOCATED A ll b a n k in g o f fic e s .................................................... Banks and banking offices in centers with— All banks and banking offices 1 banking office 2 banking offices 3 banking offices 4 banking offices 5 banking offices 7 banking offices 8 banking offices 9 or more banking offices AAO 11V 103 2,474 t>I 24 */1 71 i no iuy 14 105 13 90 10 2,464 409 1OS A 70 1 loU /A ou 54 585 10 15 4,047 1,253 884 1,970 2,679 872 1,884 2,264 11 83 404 1 3 6 1,000 to 2 ,5 0 0 ............... 2,500 to 5,000............................................. 5,000 to 10,000...................................... 3,355 1,950 1,478 2,096 664 327 1,154 1,064 725 96 184 343 9 28 65 10,000 to 25,000.......................... 25,000 to 50,000.............................. 50,000 and o v e r...................................................... 1,288 613 3,017 131 8 1 508 79 19 390 149 81 199 140 81 1 9Q 522 ZOO 5 36 OF 10 18 7,030 3,587 1,066 746 1,699 2,340 735 1,623 1,962 10 74 372 1 2 6 1,000 to 2,500........................................... 2,500 to 5,000........................................ 5,000 to 10,000...................................... 2,928 1,665 1,287 1,770 550 278 1,069 917 637 83 164 299 6 24 58 10,000 to 25,000............................................... 25,000 to 50,000............................................... 50,000 and o v e r ..................................... 1,081 454 919 105 6 1 431 63 14 331 120 60 169 94 58 24 mr; J.U U A 4A 4 21 KA 04 rr 00 53 53 4 581 A ll o ffice s o f b an k s o p e ra tin g m o re th a n o n e o f f i c e ............................................. 4,115 1,217 460 187 113 67 H A J*± 59 49 1,889 O ffices in ce n te r s w ith p o p u la tio n (1930) o f— Under 2 5 0 ................................ ....................... 250 to 5 0 0 ..................................... 500 to 1 ,0 0 0 ......................................................... 138 271 339 137 261 302 1 9 32 1 1,000 to 2 ,5 0 0 ......................................... 2,500 to 5,000........................................... 5,000 to 10,000...................................................... 427 285 191 326 114 49 85 147 88 13 20 44 3 4 7 207 159 2,098 26 2 77 16 5 59 29 21 30 46 23 3 1 1H i 54 I 52 12 37 1,883 10,000 to 25,000................................ 25,000 to 50,000................................ 50,000 and o v e r .................................... OFFICES 13,119 B an k s in ce n te r s w ith p o p u la tio n (1930) o f— Under 2 5 0 .......................................................... 250 to 5 0 0 .......................................................... 500 to 1,0 0 0 ......................................................... 5 3 12 OA 23 BANKING 8,247 NUMBER OAA 17,234 B a n k in g o ffice s in c e n te r s w ith p o p u la tio n (1930) o f — Under 2 5 0 ............................................... 250 to 5 0 0 .................................. 500 to 1 ,0 0 0 .......................................... U n it b a n k s .................................................. 6 banking offices 124 FEDERAL DEPOSIT INSURANCE CORPORATION DEPOSITS OF BANKING OFFICES N o t e R e g a r d in g D e p o s it F i g u r e s a n d C l a s s i f i c a t io n o f B a n k s b y A m o u n t of D e p o s it s Deposit figures for banks and banking offices which appear in Tables 110-13, inclusive, and which are used for classifying banks by size groups in Tables 104-06 and in Table 108, consist of the following: All insured banks. Average deposits during 1936 are averages of daily total deposit liabilities as reported on certified statements for assessment purposes. These deposit liabilities include, in addition to the usual deposits shown on the con dition statement, outstanding drafts and uninvested trust funds held in the bank's own trust department, and exclude a portion of cashiers5 and officers' checks out standing. It is estimated that total deposit liabilities for assessment purposes exceed total deposits as shown on the condition statement by less than 2 percent. The figures in Tables 110-12, inclusive, exclude deposits for 13 banks for which reports were not available. On December 31, 1936, deposits in these banks amount ed to $3,729,000. In Tables 104-06 and in Table 108 these 13 banks are classified on the basis of deposits as of December 31, 1936. All offices of insured commercial banks operating more than one office. In Table 104, banks operating more than one office are classified on the basis of daily average total deposit liabilities, as reported for assessment purposes, for the head office and branches or additional offices combined. Branches or additional offices are classified on the basis of total deposit liabilities as of December 31, 1936, as submitted in a special report by banks operating branches. The method of computation was the same as that used for assessment purposes. In Table 108 the classification of all offices of banks operating more than one office is on the basis of total deposit liabilities as of December 31, 1936, computed for assessment purposes. Noninsured banks. Total deposit liabilities are shown as of December 31, 1936, as reported in Rand McNally Bankers Directory, First 1937 Edition, or other available sources. Table 110. A v e r a g e D EPO SITS OF OPERATING BA NKS DURIN G 19361 INSURED AND NONINSURED BANKS GROUPED BY CLASS OF B AN K , TYPE OF BAN K, AND AMOUNT OF DEPOSITS Commercial banks All banks Mutual savings banks Deposits of insured banks as percent of deposits of— Insured Total Insured Non insured Members F. R. System Total Total National State Not mem bers F. R. System Non insured Total Insured Non insured All banks Com Mutual mercial savings banks banks (In thousands of dollars) 57,589,006 46,943,982 10,645,024 47,540,724 45,958,959 25,776,688 14,245,234 81.5 96.7 9.8 138 92 300 1,215 15,872 81,704 433,852 750,530 3,482,890 4,296,804 4,985,733 74.7 94.2 94.7 95.5 94.8 87.7 80.6 63.6 83.9 79.3 74.7 94.2 94.8 96.2 97.5 96.9 98.7 93.4 97.5 96.6 37.6 24.5 14.1 7.8 9.5 3.3 14.5 9.3 92 300 1,215 15,872 74,242 409,747 678,552 2,548,092 1,257,621 4,077,526 74.6 92.7 94.8 95.4 95.1 87.8 78.2 56.4 80.8 83.6 74.6 92.7 94.9 96.1 97.7 97.4 99.0 93.4 98.2 96.7 37.6 24.5 15.3 8.2 9.3 2.9 19.8 10.4 7,462 24,105 71,978 934,798 3,039,183 88.1 100.0 93.4 97.2 89.5 87.5 89.8 74.0 84.8 88.1 100.0 93.4 97.2 93.7 92.6 97.9 93.4 97.3 11.9 4.5 124 59,930 80,273 987,874 930,499 1,327,911 1,258,010 2,087,050 1,992,329 2,924,309 2,772,047 4,559,325 3,999,777 4,085,775 3,294,444 10,892,163 6,928,013 30,644,326 25,708,933 27,748,904 22,010,216 80,043 59,792 5,558 825 20,343 505,575 987,574 930,499 57,375 14,988 413,293 69,081 69,901 1,325,965 1,257,279 947,025 143,838 94,721 2,066,023 1,987,174 152,262 2,829,210 2,758,652 1,511,740 250,107 537,254 559,548 4,088,711 3,963,015 2,417,463 626,043 791,331 3,256,031 3,215,230 2,028,484 3,964,150 7,289,462 6,808,202 3,965,226 2,015,881 4,935,393 25,617,705 24,979,116 13,982,324 10,581,217 5,738,688 22,250,439 21,497,484 13,974,242 3,163,370 53,409 409,936 774,905 890,311 996,805 1,008,298 560,703 827,095 415,575 4,359,872 20,251 57,075 68,686 78,849 70,558 125,696 40,801 481,260 638,589 752,955 230 300 1,946 21,027 95,099 470,614 829,744 3,602,701 5,026,621 5,498,465 731 5,155 13,395 36,762 79,214 119,811 729,817 512,732 79',760 59,478 725,070 782,445 1,284,577 1,217,548 1,982,842 1,891,052 2,758,696 2,623,852 4,124,778 3,619,618 3,22.1,782 2,518,818 6,420,505 3,620,959 7,093,519 5,733,821 29,840,102 24,933,766 79,530 59,340 5,558 20,282 825 725,070 310,044 57,375 782,145 14,751 413,037 68,752 67,029 1,282,631 1,216,817 940,439 149,280 91,790 1,961,815 1,885,897 134,844 2,671,059 2,610,457 1,498,022 238,612 505,160 3,678,269 3,582,856 2,318,612 457,191 702,964 2,473,779 2,449,367 1,687,921 371,648 2,799,546 3,796,287 3,544,833 2,547,586 692,488 1,359,698 5,524,924 5,422,847 4,253,023 1,169,823 4,906,336 25,290,285 24,461,475 11,802,446 11,081,864 52,957 400,275 735,028 796,178 873,823 807,053 389,798 304,759 1 1,577,165 20,190 57,075 65,814 75,918 60,602 95,413 24,412 251,454 102,077 828,810 230 300 1,946 21,027 87,637 446,509 748,003 2,624,218 1,568,595 4,549,817 731 5,155 13,395 36,762 69,451 76,126 310,974 472,291 513 452 205,429 205,429 40,462 43,334 101,277 104,208 165,613 148,195 380,159 434,547 863,993 775,626 4,471,658 3,307,054 23,550,807 19,975,112 452 61 513 205,429 205,429 43,334 40,462 2,872 101,277 2,931 104,208 158,151 148,195 17,418 380,159 54,388 410,442 88,367 765,863 782,252 1,164,604 3,493,175 3,263,369 3,575,695 20,092,781 19,556,269 452 9,661 39,877 94,133 122,982 201,245 170,905 522,336 415,574 2,872 2,931 9,956 30,283 16,389 229,806 536,512 195,531 256 6,586 13,718 98,851 340,563 1,417,640 9,729,301 237 3?9 558 11,495 80,063 254,395 1.323.393 9.411.394 138 61 7,462 24,105 81,741 978,483 3,458,026 9,763 43,685 418,843 60.0 60.0 1 Deposits of insured banks are daily averages for the year; those of noninsured baijks are as of December 31, 1936. Excludes 12 insured banks not members of the Federal Reserve System and 1 national bank, with deposits on December 31, 1936, of $2,811,000 and $918,000 respectively, for which daily average deposits are not available. See also the NOTE on page 124. OFFICES 9,063,259 BANKING 985,023 OF 5,937,037 1 1,581,765 10,048,282 DEPOSITS A ll b a n k s ............................. Banks w ith daily aver age d eposits o f — $100,000 and under........ $100,000 to $250,000. . . $250,000 to $500,000..... $500,000 to $1,000,000 . $1,000,000 to $2,000,000 $2,000,000 to $5,000,000 $5,000,000 to$10,000,000 $10,000,000 to $50,000 000 Over $50,000,000 .......... U nit b a n k s ....................... Banks w ith daily aver age d ep osits o f — $100,000 and under.. .. $100,000 to $250,000... $250,000 to $500,000... $500,000 to $1,000,000. $1,000,000 to $2,000,000 $2,000,000 to $5,000,000 $5,000,000 to$10,000,000 $10,000,000 to $50,000,000 Over $50,000,000............ B anks op era tin g m o re th a n o n e o ffic e ............ B anks w ith daily aver age dep osits of-— $100 000 and under . . . . . $100,000 to $250,000. . . $250,000 to $500,000. . . $500,000 to $1,000,000. . $1,000,000 to $2 ,000,000 $2,000,000 to $5,000,000 $5,000,000 to 10,000,000 $ 10,000,000 to 50,000,000 Over $50,000,000............ 126 Table 111. AVERAGE DEPOSITS OF OPERATING BANKS DURING 19361 INSURED AND NONINSURED BANKS GROUPED BY CLASS OP BANK IN EACH STATE AND IN THE POSSESSIONS Commercial banks Deposits of insured banks as percent of deposits of— Mutual savings banks Total Insured Members F. R. System Total Total National State Not mem bers F.R. System Non insured Total Insured Non insured All banks Com Mutual mercial savings banks banks 10.048.282 985.023 9.063.259 81.5 96.7 9.8 5,931,578 1,417,755 10.048.282 985.023 9.063.259 81.7 97.0 9.8 3.2 3.2 169,469 5,459 164,010 169,469 5,459 State Alabama.......... Arizona.............i . .. . Arkansas..................... California................... Colorado..................... 252,264 70,157 157,670 3,762,550 310,760 249,836 70,157 156,301 3,732,644 307,567 2,428 252,264 70,157 157,670 3,762,550 310,760 249,836 70,157 156,301 3,732,644 307,567 179,520 46,869 94,115 2,627,554 260,405 Connecticut................ Delaware..................... District of Columbia. Florida......................... Georgia..................... 1,238,234 164,995 326,096 305,039 412,607 460,089 130,497 326,096 302,436 405,623 778,145 34,498 6,984 533,337 130,897 326,096 305,039 412,607 460,089 130,497 326,096 302,436 405,623 Idaho........................... Illinois....................... Indiana....................... Iowa............................ K ansas....................... 83,125 3,789,636 754,708 589,377 396,334 75,799 3,778,603 734,668 555,880 339,042 7,326 11,033 20,040 33,497 57,292 83,125 3,789,636 734,433 589,377 396,334 Kentucky................... Louisiana .................. Maine.......................... Maryland................... Massachusetts........... 422,848 402,939 323,648 801,562 3,987,573 410,057 402,412 195,360 537,468 1,799,832 12,791 527 128,288 264,094 2,187,741 Michigan..................... Minnesota................... Mississippi................. Missouri..................... Montana..................... 1,287,949 915,883 174,697 1,372,308 131,675 1,272,016 904,348 170,139 1,364,648 131,629 15,933 11,535 4,558 7,660 46 1,369 29,906 3,193 2,i 5,459 164,010 33,210 7,858 18,219 700,525 22,408 37,106 15,430 43,967 404,565 24,754 2,428 272,612 17,006 187,641 237,091 284,847 63,517 72,212 88,082 10,539 56,857 123,960 41,279 50,373 54,806 63,919 73,248 400 75,799 3,778,< 720,901 555,! 339,042 36,665 2,760,695 392,557 231,228 228,980 30,597 697,515 43,207 83,546 16,409 8,537 320,393 285,137 241,106 93,653 7,! 11.033 13,532 33,497 57,292 422,848 402,939 198,521 585,012 1,854,866 410,057 402,412 180,796 536,213 1,799,832 226,112 287,254 118,777 324,628 1,324,666 48,849 38,775 29,773 110,305 367,076 135,096 76,383 32,246 101,280 108,090 12,791 527 17,725 48,799 55.034 1.287,949 850,405 174,697 1,372,308 131,675 1,272,016 838,870 170,139 1,364,648 131,629 724,155 671,071 61,292 618,221 76,415 349,970 8,261 1,219 534,698 35,135 197,891 159,538 107,628 211,729 20,079 15,933 11,535 4,558 7,660 46 99.0 100.0 1,369 29,906 3,193 99.1 99.2 99.0 704,897 34,098 704,897 34,098 2,603 6,984 20,275 13,767 6,508 125,127 216,550 2,132,707 14,564 1,255 110,563 215,295 2,132,707 65,478 65,478 37.2 79.1 99.0 100.0 99.1 99.2 99.0 99.7 100.0 100.0 99.1 98.3 99.1 91.2 99.7 97.3 94.3 85.5 91.2 99.7 98.2 94.3 85.5 97.0 99.9 60.4 67.1 45.1 97.0 99.9 91.1 91.7 97.0 98.8 98.7 97.4 99.4 99.9 98.8 98.6 97.4 99.4 99.9 CORPORATION Possessions................. INSURANCE 5,937,037 57,419,537 46,938,523 10,481,014 47,371,255 45,953,500 25,776,688 14,245,234 United States............ DEPOSIT (In thousands of dollars) United States and pos sessions— total........ 57,589,006 46,943,982 10,645,024 47,540,724 45,958,959 25,776,688 14,245,234 FEDERAL Insured Non insured 11.6 .6 Nebraska................ Nevada................... New Hampshire.. . New Jersey................... New Mexico.......... 337,589 27,352 269,798 1,942,420 48,394 326,772 26,322 76,629 1,719,352 47,802 59,649 4,604 8,106 323,943 8,377 10,817 1,030 6,515 31,427 592 13,298,539 382,124 69,554 2,018,966 412,457 606,558 147,613 17,967 300,851 44,907 719,700 4,694 29,285 5,646 2,566 326,772 26,322 76,629 1,583,082 47,802 5,210 263,250 5,034,743 471,813 139,154 87,781 262.153 4,465,215 297,151 139.154 87,781 257,245 4,413,400 233,499 130,174 87,162 29,844 576,407 6,354 47,722 22,856 4,908 51,815 63,652 8,980 619 Tennessee............... Texas....................... Utah........................ Vermont................. Virginia................... 456,434 1,140,538 147,599 169,426 530,565 456,434 1,140,538 147,599 102,493 530,565 453,717 1,113,766 147,599 102,493 530.022 95,669 113,209 24,486 52,281 113,307 2,717 26,772 Washington............ West Virginia........ Wisconsin............... Wyoming................ 472,821 266,647 814,781 59,608 415,194 266,647 810,702 59,608 402.023 260,308 802,154 59,608 32,180 59,335 263,802 12,606 13,171 6,339 8,548 1 321,769 138,884 450,338 43,030 ’ 117,521 1,097 569,528 174,662 1,097 5,624 57,627 57,627 4,079 4,079 563,904 174,662 96.8 96.2 92.2 98.1 98.8 71.6 98.8 70.4 99.7 99.4 94.9 98.8 70.4 99.7 99.4 98.1 87.8 49.5 93.5 99.3 98.1 98.8 78.6 93.5 99.3 99.4 97.7 99.4 97.7 41.6 9.6 100.0 100.0 1.0 100.0 100.0 100.0 100.0 100.0 100.0 99.9 99.9 97.2 97.6 99.0 96.8 9 7 .6 ............ 98.9 100.0 .0!............ 100.0 100 1 Deposits of insured banks are daily averages for the year; those of noninsured b a n k s are as of December 31, 1936. Excludes 12 insured banks not members of the Federal Reserve System and 1 national bank, with deposits on December 31, 1936, of $2,811,000 and $918,000 respectively, for which daily average deposits are not available. See also the NOTE on page 124. OFFICES 127 BANKING Oregon..................... Pennsylvania......... Rhode Island......... South Carolina... . South D akota... . 136,270 500,808 96.8 96.2 28.4 88.5 98.8 OF 19,261,377 386,818 98,839 2,142,133 415,023 186,654 191,641 DEPOSITS New York............... North Carolina. . . North Dakota. . . . Ohio. ....................... Oklahoma............... 186,654 327,911 Table 112. AVERAGE D EPO SITS OF OPERATING COMMERCIAL BA NKS DURIN G 19361 IN SURED AND NONINSURED BANKS GROUPED BY AMOUNT OP DEPOSITS IN EACH S TA TE AND IN T H E POSSESSIONS to 00 Banks with daily average deposits, or with deposits on December 31, 1936, of— 1 All banks $100,000 to $250,000 $250,000 to $500,000 $500,000 to $1,000,000 $1,000,000 to $2,000,000 $2,000,000 to $5,000,000 $5,000,000 to $10,000,000 $10,000,000 to $50,000,000 Over $50,000,000 (In thousands of dollars) 80,043 59.792 20,251 987,574 930.499 57,075 1,325,965 1.257.279 68,686 2,066,023 1.987.174 78,849 2,829,210 2,758,652 70,558 4,088,711 3.963.015 125,696 3,256,031 3.215.230 40,801 7,289,462 6,808,202 481,260 25.617.705 24.979.116 638.589 U n ite d S t a t e s ......... Insured banks........ Noninsured banks. 47,371,255 45,953,500 1,417,755 79,869 59.792 20,077 987,334 930.499 56,835 1,325,415 1.257.279 68,136 2,061,344 1.987.174 74,170 2,817,283 2,753,193 64,090 4,059,517 3.963.015 96,502 3,248,687 3.215.230 33,457 7,174,101 6,808,202 365,899 25.617.705 24.979.116 638.589 P o s s e s s io n s ............. Insured banks........ Noninsured banks. 169,469 5,459 164,010 174 240 550 4,679 7,344 115,361 240 550 4,679 11,927 5,459 6,468 29,194 174 29,i94 7,344 115,361 252,264 249,836 2,428 70.157 70.157 2,610 2,484 126 11,682 11,112 570 213 213 21,350 20,751 599 22,277 21,144 1,133 2.455 2.455 26.991 26.991 33.841 33.841 1.023 1.023 17.076 17.076 20.871 20.871 28.519 28.519 157,670 156,301 1,369 3,762,550 3,732,644 29,906 310,760 307,567 3,193 3,645 3,423 222 517 456 61 916 748 168 10,760 10,048 712 197,957 197,760 197 5,778 4,997 781 18,899 18,464 435 19.025 19.025 18.775 18.775 23.562 23.562 15.591 15.591 40.887 40.887 25.551 25.551 39.983 39.983 24.317 24.317 248,751 229,407 19,344 130.444 130.444 3.035.395 3.035.395 19,732 18,521 1,211 105,683 96,622 9,061 27.543 27.543 65.280 65.280 12,180 11,147 1,033 49,959 48,716 1,243 30.676 30.676 533,337 460,089 73,248 130,897 130,497 400 326.096 326.096 129 123 1,429 1,285 144 762 762 4,799 2,527 2,272 3,808 3,502 306 388 10,850 9,892 958 6.625 6.625 38,563 31,832 6,731 11.555 11.555 86,610 82,420 4,190 11.414 11.414 102,908 95,662 7,246 16.256 16.256 223,233 171,532 51,701 80.178 80.178 64.816 64.816 984 984 3.279 3.279 15.302 15.302 42.917 42.917 115.085 115.085 148.141 148.141 13.256 13.256 17,679 17,157 522 25.054 25.054 43,148 41,517 1,631 33,119 32,089 1,030 44.685 44.685 16,808 16,808 163.049 163.049 39.198 39.198 23.963 23.963 54.543 54.543 305,039 302,436 2,603 412,607 405,623 6,984 6 299 205 94 663 591 72 4,366 2,559 1,807 5,751 5,373 378 14,825 12,486 2,339 24,661 22,853 1,808 52.996 52.996 59.174 59.174 192.878 192.878 CORPORATION C o n n e c t i c u t .................. Insured banks............. Noninsured banks. . . D e la w a re ........................ Insured banks............. Noninsured banks. . . D is tr ic t o f C o lu m b i a . Insured banks............. Noninsured banks. . . F lo r id a ............................ Insured banks............. Noninsured banks. . . G e o r g ia ........................... Insured banks............. Noninsured banks. . . 80.517 80.517 INSURANCE S ta te A la b a m a .................... Insured banks........ Noninsured banks. A r iz o n a ....................... Insured banks........ Noninsured banks. A r k a n s a s .................... Insured banks........ Noninsured banks. C a lifo r n ia .................. Insured banks........ Noninsured banks. C o lo r a d o .................... Insured banks........ Noninsured banks. ” DEPOSIT 47,540,724 45,958,959 1,581,765 FEDERAL U n ite d S ta tes a n d p osses sio n s— t o t a l ............................. Insured banks........................... Noninsured banks.................... $100,000 and under 239.274 239.274 ' 289,709 289,709 ‘ 64,078 64,078 * 21*3,4 iO ' 213,410 59.723 59.723 133.668 133.668 22.092 22.092 71.552 71.552 62,812 56,812 6,000 29.644 29.644 6 4,768 62,471 2,297 20.566 20.566 54.793 54.793 33.158 33.158 95.779 95.779 53,1C6 53,106 26.079 26.079 29.078 29.078 168,202 168,202 110.131 110.131 9,847 8,574 1,273 30.763 30.763 26,082 24,668 1,414 45.705 45.705 59,769 54,844 4,925 47.366 47.366 62,055 53,010 9,045 54.479 54.479 37.508 37.508 6.420 6.420 34,791 33,413 1,378 12,990 12,511 479 3,011 1,943 1,068 14.487 14.487 519 519 5.797 5.797 26,849 26,171 678 58,273 56,308 1,965 188,610 184,799 3,811 200.587 200.587 17,542 15,499 2,043 32,115 29,953 2,162 8,495 7,858 637 255,075 251,925 3,150 5.726 5.726 54,546 51,391 3,155 82,967 81,559 1,408 21,323 20,608 715 52,057 50,264 1,793 11.714 11.714 62,246 60,477 1,769 94,633 92,421 2,212 29,962 28,020 1,942 65,723 64.109 1,614 16.110 16,110 92,558 89,028 3,530 67,100 64,459 2,641 34,676 33,518 1,158 62.775 62.775 108,670 103,743 4,927 82,961 80,762 2,199 38.546 38.546 123.889 123.889 155.247 155.247 672.152 672.152 29.028 29.028 68.335 68.335 389.480 389.480 99.396 99.396 117.933 117.933 175.394 175.394 536.920 536.920 15.791 15.791 34.026 34.026 25.020 25.020 22,882 22,882 35,767 35,166 601 22,974 19,977 2,997 30,743 26,098 4,645 45,739 29,281 16,458 78,054 75,723 2,331 54,414 50,901 3,513 76,532 67,993 8,539 58,042 41,895 16,147 422,848 410,057 12,791 402,939 402,412 527 198,521 180,796 17,725 585,012 536,213 48.799 1,854,866 1,799,832 55.034 3,644 2,171 1,473 954 906 48 19,997 18,354 1,643 5.295 5.295 1,287,949 1,272,016 15,933 850,405 838,870 11,535 174,697 170,139 4,558 1,372,308 1,364,648 7,660 131,675 131,629 46 1,099 590 509 3,786 2,873 913 932 826 106 7,035 5,932 1,103 406 360 46 M ic h ig a n .............................. Insured banks................... Noninsured ban ks........... M in n e s o t a ............................ Insured banks................... Noninsured ban ks........... M is s is s ip p i........................... Insured banks................... Noninsured ban ks........... M is s o u r i................................ Insured banks................... Noninsured ban ks........... M o n t a n a .............................. Insured banks................... Noninsured ban ks............ 249 249 151 151 205,260 156,461 *48,799 363,609 315,029 48,580 2.600.633 2.600.633 98.201 98.201 1?0,381 180,381 1,010,554* 1,010,554 OFFICES 2,600 2,365 235 1,724 1,197 527 884 237 647 8,052 2,895 5,157 OF BANKING 5.932 5.932 DEPOSITS 5.622 5.622 K e n t u c k y ............................. Insured banks................... Noninsured ban ks........... L o u is ia n a .............................. Insured banks................... Noninsured ban ks........... M a i n e ..................................... Insured banks................... Noninsured ban ks........... M a r y la n d .............................. Insured banks................... Noninsured ban ks........... M a s s a c h u s e t t s ................... Insured banks................... Noninsured ban ks........... 40.763 40.763 129 125,074 124,527 547 65,506 63,212 2,294 114,352 105,100 9,252 62,883 49,949 12,934 22,660 16,741 5,919 261,554 256,072 5,482 100,202 97,864 2,338 62,360 58,245 4,115 S6,C64 56,064 1.944 1.944 83,125 75.799 7,326 3,789,636 3,778,603 11.033 734,433 720,901 13,532 589,377 555,880 33,497 396,334 339,042 57,292 39.283 39.283 7,470 6,063 1,407 156,971 155,134 1,837 113,924 112,061 1,863 111,115 104,816 6,299 71,910 65,314 6,596 214 214 I d a h o ...................................... Insured banks................... Noninsured ban ks........... I llin o is ................................... Insured banks................... Noninsured ban ks........... I n d ia n a ................................. Insured banks................... Noninsured banks........... I o w a ....................................... Insured banks................... Noninsured ban ks........... K a n s a s ................................... Insured banks................... Noninsured ban ks........... Table 112. A v e r a g e D e p o s i t s o f O p e r a t in g C o m m e r c ia l B a n k s D u r in g 19361 — Continued IN SURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STA TE AND IN T H E POSSESSIONS CO o Banks with daily average deposits, or with deposits on December 31, 1936, of— 1 All banks $100,000 and under $100,000 to $250,000 $250,000 to $500,000 $500,000 to $1,000,000 $1,000,000 to $2,000,000 $2,000,000 to $5,000,000 $5,000,000 to $10,000,000 $10,000,000 to $50,000,000 16.978 16.978 150.263 150.263 Over $50,000,000 14,018,239 13,298,539 719,700 386,818 382,124 4,694 98,839 69,554 29,285 2,024,612 2,018,966 5,646 415,023 412,457 2,566 372 O r e g o n ...................... Insured b a n k s.. .. Noninsured banks P e n n s y lv a n ia ......... Insured b a n k s.. .. Noninsured banks R h o d e I s la n d ......... Insured b a n k s.. .. Noninsured banks, 262,153 257,245 4,908 4,465,215 4,413,400 51,815 297,151 233,499 63,652 177 77 77 193 193 372 1,139 978 161 3,679 3,269 410 590 495 95 2,924 2,599 325 99 99 549 455 94 30 30 202 1,082 887 195 1,136 1,022 114 291 291 44,250 41,437 2,813 1,318 490 828 4,427 4,038 389 14.081 14.081 5.388 5.388 7,164 6,730 434 10,130 10,000 130 11,481 10,701 780 17,690 16,153 1,537 23,907 22,288 1,619 86,701 85,996 705 19,128 18,740 388 13,399 12,962 437 72,426 69,564 2,862 37,566 36,944 622 4,657 4,315 342 14,397 13,949 38,082 37,166 916 1.382 1.382 28,193 26,520 1,673 3.641 3.641 28.380 28.380 15,326 12,463 2,863 62,555 61,058 1,497 7,954 7,362 592 13.939 13.939 169.577 169.577 24,323 21,432 2,891 261.117 261.117 226.708 226.708 7.268 7.268 6.898 6.898 20.402 20.402 127,837 127,305 532 24.780 24.780 245,481 243,733 1,748 52.740 52.740 363.919 363.919 6.499 6.499 12.495 12.495 478,256 455,712 22.544 53,559 49.544 4,015 17.186 17.186 3.096 3.096 17.713 17.713 23.870 23.870 24.623 24.623 6.442 6.442 617,467 587,728 29,739 261.791 261.791 764,312 709,536 54,776 72.951 72.951 11,944,197 11,305,608 638,589 127.768 127.768 27,658 129,977 128,825 1,152 37.950 37.950 161.604 161.604 233.500 233.500 149.926 149.926 27,658 244.608 244.608 37.465 37.465 64.654 64.654 19.235 19.235 81.700 81.700 109.622 109.622 9.271 9.271 12.496 12.496 17.633 17.633 5.940 5.940 11.245 11.245 184.061 184.061 63,673 62,345 1,328 202,222 196,732 5,490 1.766 1.766 352,824 349,621 3,203 7,323 1,532 5,791 16,751 12,284 4,467 635.349 635.349 483,621 474,023 9,598 13.843 13.843 635,336 603,682 31,654 134,842 81,194 53,648 2.077.244 2.077.244 23,005 18,792 4,213 1.014.291 1.014.291 116,342' 116,342 CORPORATION N ew Y o r k ................. Insured b a n k s.. . . Noninsured banks N o rth C a r o lin a . . . Insured b a n k s.. .. Noninsured banks N o rth D a k o t a ........ Insured b a n k s.. . . Noninsured banks O h io ........................... Insured banks. . . . Noninsured banks O k la h o m a ............... Insured b a n k s.. . . Noninsured banks 177 27,812 24,117 3,695 202 INSURANCE 3,631 1,911 1,720 DEPOSIT 337,589 326,772 10,817 27,352 26,322 1,030 83,144 76,629 6,515 1,614,509 1,583,082 31,427 48,394 47,802 592 FEDERAL (In thousands of dollars) N e b ra s k a .................. Insured b a n k s.. . . Noninsured banks N e v a d a ...................... Insured banks. . . . Noninsured banks N ew H a m p s h ir e ... Insured b a n k s.. . . Noninsured banks N ew J e r s e y .............. Insured b a n k s.. . . Noninsured banks N ew M e x ic o ............ Insured b a n k s.. . . Noninsured banks 55.062 55.062 139,154 130,174 8,980 87,781 87,162 619 2,061 1,298 763 3.039 3.039 5,683 4,428 1,255 15.416 15.416 10,413 9,133 1,280 10,281 10,281 13,897 11,249 2,648 9,946 9,327 619 18,186 15,152 3,034 16.643 16.643 22.509 22.509 11.343 11.343 16.945 16.945 15.511 15.511 Tennessee.................. Insured banks........ Noninsured banks. T exas............................ Insured banks........ Noninsured banks. U t a h ............................ Insured banks........ Noninsured banks. V erm on t.................... Insured banks........ Noninsured banks. Virginia...................... Insured banks........ Noninsured banks. 456,434 453,717 2,717 ,140,538 .,113,766 26,772 147.599 147.599 3,914 3,505 409 8,280 6,619 1,661 97 97 17,331 17,089 242 44,414 39,129 5,285 1.342 1.342 24.011 24.011 36,736 35,572 1,164 107,279 104,838 2,441 25.438 25.438 23.451 23.451 35.957 35.957 225.864 225.864 56.358 56.358 80,958 75,538 5,420 7.117 7.117 32,812 31,910 902 104,675 98,381 6,294 7.234 7.234 146,828 141,157 5,671 5.089 5.089 128.717 128.717 449.502 449.502 69.885 69.885 5.953 5.953 95.329 95.329 525 525 6.567 6.567 13.950 13.950 30.036 30.036 39.173 39.173 12.242 12.242 530,565 530.022 543 1.084 1.084 9.380 9.380 28.193 28.193 64,870 64,327 68.500 68.500 81.577 81.577 60.456 60.456 147.445 147.445 69.060 69.060 W ash in gto n .............. Insured banks........ Noninsured banks. W est Virginia........... Insured banks........ Noninsured banks. W is c o n s in ................ Insured banks........ N oninsured ban ks. W y o m in g ................... Insured banks........ Noninsured banks. 415,194 402.023 13,171 266,647 260,308 6,339 810,702 802,154 8,548 59.608 59.608 1,076 971 105 97 6,076 5,662 414 4,314 3,895 419 23,998 23,731 267 1.149 1.149 15,770 15,460 310 17,136 15,920 1,216 62,259 59,700 2,559 6.369 6.369 28,992 27,612 1,380 34,748 32,937 1,811 106,299 103,707 2,592 8.345 8.345 35,707 32,313 3,394 37.807 37.807 24.814 24.814 40,894 33,326 7,568 17.529 17.529 72.108 72.108 189.757 189.757 95.813 95.813 109.333 109.333 102.493 102.493 DEPOSITS South Carolina Insured ban ks........ Noninsured banks. South D akota.......... Insured banks........ Noninsured banks. OF 107.626 107.626 71.655 71.655 192.371 192.371 13.401 13.401 OFFICES 11.583 11.583 83,361 80,565 2,796 111,214 108,276 2,938 18.483 18.483 BANKING 97 1,789 1,597 192 278 278 1Deposits of insured banks are daily averages for the year; those of noninsured banks are as of December 31, 1936. Excludes 12 insured banks not members of the Federal Reserve System and 1 national bank, with deposits on December 31,1936, of $2,811,000 and $918,000 respectively, for which daily average deposits are not available. See also the N O T E on page 124. CO T a b le 113. D EPO SITS OF OPERATING M U TU A L SAVINGS BANKS, D EC EM BER 31, 19361 IN SURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH S TA TE Banks with daily average deposits, or with deposits on December 31, 1936, of— 1 $100,000 to $250,000 $250,000 to $500,000 $500,000 to $1,000,000 $1,000,000 to $2,000,000 $2,000,000 to $5,000,000 $10,000,000 to $50,000,000 Over $50,000,000 829,744 79,214 750,530 3,602,701 119,811 3,482,890 5,026,621 729,817 4,296,804 c [n thousands oif dollars) U n ite d S ta tes— t o t a l ............... Noninsured ban ks.................... 300 21,027 5,155 15,872 95,099 13,395 81,704 470,614 36,762 433,852 704,897 1,770 17,618 74,618 125,618 414,034 71,239 704,897 34,098 1,770 17,618 74,618 125,618 8,152 414,034 25,946 71,239 3.493 3.493 12,289 12,289 1,820 42,526 4,900 37,626 2,537 8,152 13,891 7,383 6,508 24,058 6,974 17,084 8,935 25,946 2.891 2.891 40,823 109,985 91,728 1,820 2,537 8,935 109,985 91,728 300 34,098 20,275 13,767 6,508 125,127 14,564 110,563 216,550 1,255 215,295 1,946 731 1,215 252 252 290 5,179 2,690 2,489 1.255 1.255 290 40,823 2,132,707 92 165 5,457 22,959 187,464 344,784 1,025,674 546,112 2,132,707 65.478 65.478 92 165 5,457 22,959 187,464 344,784 1,025,674 546,112 65.478 65.478 186,654 346 5,175 15,828 55,185 23,245 86,875 186,654 327,911 136,270 191,641 5,243,138 500,808 4,742,330 346 439 439 5,175 512 512 981 15,828 2,623 1,069 1,554 9,636 55,185 8,506 4,837 3,669 67,953 23,245 61,338 37,068 24,270 191,934 86,875 163,243 92,345 70,898 1,527,202 981 9,636 67,953 191,934 1,527,202 91,250 91,250 3,445,432 500,808 2,944,624 CORPORATION M a s s a c h u s e t t s ........................ Insured banks....................... Noninsured ban ks................ M in n e s o t a ................................ Insured banks....................... Noninsured ban ks................ N ew H a m p s h ir e ..................... Insured banks....................... Noninsured ban ks................ N ew Jersey ........................ Insured banks....................... Noninsured ban ks................ N ew Y o r k .................................. Insured banks....................... Noninsured banks................ 230 138 92 INSURANCE S ta te C o n n e c tic u t . . Insured banks....................... Noninsured banks D e la w a r e ................................... Insured banks....................... Noninsured b an k s................ I n d ia n a ...................................... Insured banks....................... Noninsured b an k s................ M a i n e ......................................... Insured b an k s....................... Noninsured ban k s................ M a r y la n d ............ Insured banks....................... Noninsured banks .. 10,048,282 985,023 9,063,259 DEPOSIT $5,000,000 to $10,000,000 FEDERAL All banks $100,000 and under 1.382 1.382 1.097 1.097 1.097 1.097 569,528 5,624 563,904 174,662 174,662 66.933 66.933 57.627 57.627 4.079 4.079 135 327 135 327 292 292 4.848 4.848 698 698 138 138 1.506 1.506 109.048 109.048 5.624 5.624 77,851 486,053 4,800 77,851 103,602 486,053 65,798 103,602 27.466 27.466 65,798 4,800 13.629 13.629 2.446 2.446 2.435 2.435 20.698 20.698 54.483 54.483 BANKING 1Deposits of insured banks are daily averages for the year; those of noninsured banks are as of December 31, 1936. OFFICES 133 7.091 7.091 OF W ash in gto n .............. Insured banks........ Noninsured banks. W isconsin.................. Insured banks........ Noninsured banks. 117.521 117.521 DEPOSITS O h io ............................. Insured banks........ Noninsured banks. O regon........................ Insured banks........ Noninsured banks. Pennsylvania............ Insured banks......... Noninsured ban ks. Rhode Islan d ........... Insured banks........ Noninsured ban ks. V erm on t..................... Insured banks........ Noninsured banks. 134 FEDERAL DEPOSIT INSURANCE CORPORATION A SS E T S A N D L IA B IL IT IE S O F O P E R A T IN G B A N K S T a b le 114. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING COMMERCIAL B a n k s i n t h e U n i t e d S t a t e s a n d P o s s e s s i o n s , D e c e m b e r 31, 1935, J u n e 30, 1936, a n d D e c e m b e r 31, 1936 1935 Dec. 31 June 30 . Dec. 31 (In millions of dollars) A ll b an k s ASSETS Cash and amounts due from other ban ks............................................. United States Government obligations, direct and fully guaranteed Other securities............................................................................................ Loans, discounts, and overdrafts............................................................ Miscellaneous assets................................................................................... T o t a l a s s e t s ........................................................................................ 14,320 13,826 7,115 15,143 2,373 52,777 14,516 15,346 7,714 15,547 2,357 55,480 16,255 15,290 7,888 16,390 2,333 58,156 L IA B IL IT IE S T otal deposits.............................................................................................. Miscellaneous liabilities............................................................................. Total capital a ccou nt................................................................................. T o t a l lia b ilitie s a n d c a p ita l a c c o u n t ...................................... 45,611 649 6,517 52,777 48,161 715 6,604 55,480 50,840 680 6,636 58,156 Number of banks: Included in above figures...................................................................... N ot included in above figures............................................................. Total operating....................................................................................... 15,312 62 15,374 15,211 62 15,273 15,092 59 15,151 In su red b an k s (In millions of dollars) ASSETS Cash and amounts due from other banks............................................... United States Government obligations, direct and fully guaranteed. Other securities............................................................................................. Loans, discounts, and overdrafts.............................................................. Miscellaneous assets..................................................................................... T o ta l a s s e ts ....................................................................................... 13,851 13,275 6,841 14,698 2,253 50,918 14,039 14,772 7,412 15,107 2,248 53,578 15,731 14,749 7,558 15,940 2,218 56,196 L IA B IL IT IE S Total deposits................................................................................................ Miscellaneous liabilities............................................................................... Total capital account................................................................................... T o ta l lia b ilitie s a n d ca p ita l a c c o u n t ........................................ 44,126 582 6,210 50,918 46,626 654 6,298 53,578 49,258 609 6,329 56,196 Number of banks: Included in above figures........................................................................ N ot included in above figures1 .............................................................. Total operating......................................................................................... 14,123 3 14,126 14,059 6 14,065 13,970 3 13,973 N on in su red b an k s (In millions of dollars) ASSETS Cash and amounts due from other banks............................................. United States Government obligations, direct and fully guaranteed Other securities............................................................................................ Loans, discounts, and overdrafts............................................................ Miscellaneous assets................................................................................... T o t a l a s s e ts ........................................................................................ 469 551 274 445 120 1,859 477 574 302 440 109 1,902 524 541 330 450 115 1,960 L IA B IL IT IE S Total deposits.............................................................................................. Miscellaneous liabilities............................................................................. Total capital account................................................................................. T o t a l lia b ilitie s a n d ca p ita l a c c o u n t ...................................... 1,485 67 307 1,859 1,535 61 306 1,902 1,582 71 307 1,960 Number of banks: Included in above figure....................................................................... Statements of assets and liabilities not available......................... Total operating....................................................................................... 1,189 59 1,248 1,152 56 1,208 1,122 56 1,178 *(a) On December 31, 1935, 1 trust company not engaged in deposit banking, 1 Deposit Insurance National Bank, and 1 bank not a member of the Federal Reserve System from which a report was not received; (b) on June 30,1936, 2 trust companies not engaged in deposit banking, and 4 banks not member of the Federal Reserve System from which reports were not received or were received too late for com pilation; (c) on December 31, 1936, 2 trust companies not engaged in deposit banking, and 1 bank not a member of the Federal Reserve System from which a report was not received. 135 ASSETS AND LIABILITIES OF OPERATING BANKS T a b le 115. SUMMARY OF ASSETS AND L IA B IL IT IE S OF OPE R ATIN G M U T U A L S a v i n g s B a n k s i n t h e U n i t e d S t a t e s , D e c e m b e r 31, 1935, J u n e 30, 1936, a n d D e c e m b e r 31, 1936 1936 D ec. 31 June 30 (In millions of dollars) A ll b an k s ASSETS Cash and amounts due from other banks............................................. United States Government obligations, direct and fully guaranteed Other securities............................................................................................ Loans, discounts, and overdrafts............................................................ Miscellaneous assets................................................................................... T o t a l a s s e t s ........................................................................................ 552 1,684 2,920 5,127 875 11,158 544 1,984 2,795 5,030 937 11,290 565 2,188 2,730 4,973 942 11,398 L IA B IL IT IE S Total deposits.............................................................................................. Miscellaneous liabilities............................................................................. T otal capital a ccou nt................................................................................. T o t a l lia b ilitie s a n d c a p ita l a c c o u n t ...................................... 9,880 21 1,257 11,158 9,975 23 1,292 11,290 10,061 19 1,318 11,398 565 563 Number of banks........................................................................................ In su red b an k s (In millions of dollars) ASSETS Cash and amounts due from other banks............................................. United States Government obligations, direct and fully guaranteed Other securities........................................................................................... Loans, discounts, and overdrafts............................................................ Miscellaneous assets................................................................................... T o ta l a s s e ts ....................................................................................... 68 179 284 489 88 1,108 70 210 271 476 95 1,122 70 237 262 469 94 1,132 L IA B IL IT IE S Total deposits............................................................................................... Miscellaneous liabilities............................................................................. Total capital accou nt................................................................................. T o t a l lia b ilitie s a n d ca p ita l a c c o u n t ...................................... 978 4 126 1,108 988 4 130 1,122 998 3 131 1,132 Number of banks........................................................................................ 56 56 56 N on in su red b an k s (In millions of dollars) ASSETS Cash and amounts due from other banks............................................... United States Government obligations, direct and fully guaranteed Other securities.............................................................................................. Loans, discounts, and overdrafts.............................................................. Miscellaneous assets..................................................................................... T o t a l a s s e ts .......................................................................................... 484 1,505 2,636 4,638 787 10,050 474 1,774 2,524 4,554 842 10,168 495 1,951 2,468 4,504 848 10,266 LIA B IL IT IE S Total deposits................................................................................................ Miscellaneous liabilities............................................................................... Total capital accou nt................................................................................... T o ta l lia b ilitie s a n d ca p ita l a c c o u n t ........................................ 8.902 17 1,131 10,050 8,987 19 1,162 10,168 9,063 16 1,187 10,266 Number of banks.......................................................................................... 510 509 507 Table 116. A s s e t s AND L IA B IL IT IE S OF OPERATING IN SURED COMMERCIAL BA NKS, C A LL P A T E S , JU N E 30, 1934, TO D EC EM BER 31, 1936 1934 Num ber of banks1............................................................................................... June 30 December 31 June 29 December 31 June 30 December 31 13,896 14,137 14,175 14,123 14,059 13,970 (In thousand s of dollars) 869,626 5,573,212 38,008 915,988 5,607,119 35,951 917,310 6,571,694 36,545 1,302,378 2,232,294 126,325 145,652 1,093,987 1,480,875 2,559,545 152,784 190,363 1,944,295 1,612,871 2,759,445 150,266 76,225 1,219,335 1,817,424 3,033,305 160,645 54,889 2,304,017 1,869,377 3,201,486 159,674 55,409 2,194,114 1,898,633 3,493,012 160,908 57,603 2,594,855 9,342,795 11,202,101 11,456,907 13,851,126 14,039,118 15,730,560 D ire c t o b lig a tio n s o f th e U n ite d S ta te s G o v e r n m e n t: B onds....................................................................................................................................... Treasury notes....................................................................................................................... Treasury bills......................................................................................................................... T o t a l d ir e c t o b lig a tio n s o f th e U n ited S ta tes G o v e r n m e n t .................. 5,210,244 3,046,894 1,450,838 9,707,976 5,069,132 4,401,740 1,032,187 10,503,059 4,889,004 4,476,099 1,104,669 10,469,772 4,369,967 5,603,462 1,195,007 11,168,436 5,816,750 5,428,167 1,270,127 12,515,044 6,724,308 4,755,941 1,055,211 12,535,460 O b lig a tio n s f u lly g u a r a n te e d b y th e U n ited S ta tes G o v e r n m e n t : Reconstruction Finance C orporation.............................................................................. Federal Farm Mortgage Corporation.............................................................................. Home Owners’ Loan Corporation..................................................................................... T o ta l o b lig a tio n s fu lly g u a r a n te e d b y th e U. S. G o v e r n m e n t ............. 235,942 61,585 8295,997 593,524 245,462 326,788 637,585 1,209,835 246,715 447,451 1,188,051 1,882,217 243,393 563,041 1,300,419 2,106,853 238,076 575,357 1,444,000 2,257,433 212,709 568,258 1,433,126 2,214,093 O th e r s e cu ritie s : Obligations of: TTnmo ^^rnD^a, T n PnTnrWQfiAn o * l ! P P r i oq f r\ lntprpcit ntllv Federal Land banks........................................................................................................ Federal Intermediate Credit ban ks............................................................................. States and their political subdivisions........................................................................ Territorial and insular possessions of the United S tates....................................... Railroads.................................................................................................................. .......... Public utilities................................................................................................................... Real estate corporations................................................................................................. Other domestic corporations5 ....................................................................................... Stock of Federal Reserve ban ks....................................................................................... Stock of other domestic corporations.............................................................................. Foreign securities— public and p rivate........................................................................... T o t a l o t h e r s e c u r it ie s ............................................................................................. (<> }J 273,466 fI 2,256,316 23,256 915,267 902,784 106,673 703,466 145,990 535,131 334,236 6,196,585 136,791 177,353 119,520 2,388,770 21,916 980,743 908,600 101,533 691,339 146,553 489,402 296,093 6,458,613 10,498 205,925 134,422 2,558,536 21,507 1,025,574 975,497 97,597 711,150 146,382 501,800 295,610 6,684,498 224,116 98,702 2,633,631 24,326 1,017,472 1,090,295 97,632 745,078 130,317 486,065 293,465 6,841,099 258,191 139,687 2,758,456 19,521 1,173,943 1,176,996 91,988 853,656 130,810 510,502 297,859 7,411,609 229,903 114,260 2,734,041 22,089 1,232,832 1,287,352 89,507 932,697 130,744 505,643 278,638 7,557,706 Other time balances with banks in the United S tates............................................... Balances with banks in foreign countries...................................................................... Cash items in process of collection.................................................................................. T o ta l ca s h , b a la n ces w ith o th e r b a n k s, a n d ca sh ite m s in process o f c o l l e c t i o n .................................................................................................................. CORPORATION 705,488 4,933,277 ( 2) INSURANCE 792,674 4,081,565 ( 2) DEPOSIT 622,749 3,819,410 ( 2) FEDERAL A SSETS C a sh , b a la n c e s w ith o t h e r b a n k s, a n d ca s h ite m s in process o f c o lle c t io n : Coin and cu rrency................................................................................................................ Reserve with Federal Reserve b an k s.............................................................................. Balances with private banks and American branches of foreig n ban ks................. Other demand balances with banks in the United States : In New York C it y ........................................................................................................... 1936 1935 3,294,779 5,901,592 6,966 14,495,455 M is ce lla n e o u s a sse ts: Banking house, furniture and fixtures........................................................................... Other real estate ow ned..................................................................................................... Customers’ liability on account of acceptances.......................................................... Redemption fund and due from United States Treasurer........................................ Borrowed securities.............................................................................................................. Other assets........................................................................................................................... T o ta l m is c e lla n e o u s a s s e t s .................................................................................. 1,212,843 426,996 254,360 36,249 5,110 470,672 2,406,230 1,212,438 465,313 243,093 33,956 3,641 504,067 2,462,508 1,209,938 507,573 158,934 11,842 2,306 372,177 2,262,770 T o t a l a s s e t s ................................................................................................................ 43,435,788 46,439,270 8 284,725 17,751 201,164 138,969 127,807 993,856 197,497 497,475 2,832,874 309,903 29,377 181,539 174,874 105,322 1,064,772 203,078 487,505 2,835,257 3,228,460 6,068,215 9,679 14,697,981 318,879 17,979 144,298 118,780 86,865 1,097,524 273,513 489,244 2,876,819 661,606 6229,765 3,193,292 5,591,228 7,393 15,107,185 3,102,832 6,270,346 10,011 15,939,722 1,196,266 550,723 180,495 1,194,621 574,024 159,267 1,177,752 560,468 181,281 1,489 323,095 2,252,068 1,000 319,091 2,248,003 1,115 297,760 2,218,376 47,251,619 50,917,563 53,578,392 56,195,917 $ (2? 378.018 18,703 161.019 133,090 90,269 1,172,495 274,269 487,604 2,959,251 L IA B IL IT IE S AND C A P IT A L LIABILITIES 3,492,460 5,751,098 9,729 14,603,154 8 257,223 31,987 257,273 235,382 163,951 876,561 191,825 499,251 2,836,414 AND 3,713,803 5,789,309 7,680 15,188,678 218,727 20,559 265,222 216,690 165,095 1,116,165 213,261 555,885 2,906,282 ASSETS L o a n s , d is c o u n ts , a n d o v e r d ra fts (in c lu d in g r e d is c o u n t s ): Commercial paper bought in open m arket.................................................................... N otes, bills, acceptances, etc., payable in foreign countries.................................... Acceptances of other banks payable in the United States........................................ Reporting banks’ own acceptances.................................................................................. Loans to banks...................................................................................................................... Loans to brokers and dealers in securities— In New York C it y .............................. Elsewhere.............................................. Loans on farm land............................................................................................................. Loans on other real estate................................................................................................. Agricultural loans (excluding loans on farm land)...................................................... Commercial and industrial loans..................................................................................... All other loans— On securities.......................................................................................... Otherwise secured and unsecured.................................................... Overdrafts.............................................................................................................................. T o t a l lo a n s, d is c o u n ts , a n d o v e r d r a fts .......................................................... 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 20,074,063 881,308 2,674,238 21,463,913 1,105,886 2,885,335 23,419,236 946,564 2,916,202 400,287 19,013,046 862,934 21,532,221 445,727 21,866,801 921,170 24,550,779 832,437 26,287,571 935,237 28,217,239 T im e d e p o sits (exclu sive o f in te r b a n k d e p o s its ): Individuals, partnerships, and corporations: Evidenced by savings pass b o o k s.............................................................................. Certificates of deposit..................................................................................................... Open accounts................................................................................................................. Christmas savings and similar accou nts.................................................................... Postal savings........................................................................................................................ States and their political subdivisions............................................................................ T o t a l t im e d e p o s it s ................................................................................................. OPERATING 9,163,890 1,459,611 617,041 79,656 661,327 384,032 12,365,557 9,708,911 1,363,516 556,316 25,549 524,404 335,070 12,513,766 10,236,013 1,355,785 577,171 85,102 372,479 325,624 12,952,174 10,575,116 1,299,133 590,436 30,874 279,928 405,187 13,180,674 10,933,195 1,335,166 637,045 100,291 195,840 428,928 13,630,465 11,491,137 1,254,003 676,659 32,343 139,737 347,084 13,940,963 BANKS I n t e r b a n k d e p o s it s : Banks in the United S tates............................................................................................... Banks in foreign countries................................................................................................. T o t a l in t e r b a n k d e p o s it s ...................................................................................... 4,270,506 164,485 4,434,991 4,794,507 155,846 4,950,353 5,201,586 279,638 5,481,224 5,941,190 452,978 6,394,168 6,232,648 475,065 6,707,713 6,657,491 442,291 7,099,782 T o t a l d e p o s it s ............................................................................................................ 35,813,594 38,996,340 40,300,199 44,125,621 46,625,749 49,257,984 137 OF D e m a n d d e p o sits (exclu sive o f in te r b a n k d e p o sits): Individuals, partnerships, and corporations................................................................. United States Governm ent............................................................................................... States and their political subdivisions........................................................................... Cash letters of credit, certified, officers', and travelers’ checks outstanding, and amounts due to Federal Reserve banks............................................................ T o t a l d e m a n d d e p o s it s .......................................................................................... Table 116. A s s e t s AND L IA B IL IT IE S OF OPERATING IN SURED COMMERCIAL BANKS, C A LL D A TE S , JU N E 30, 1934, TO D EC EM BER 31, 1936 — Continued CO 00 June 30 1936 1935 1934 December 31 June 29 December 31 December 31 June 30 i M is c e lla n e o u s lia b ilit ie s : Bills payable, rediscounts, and other liabilities for borrowed m oney7 ................... Securities borrow ed................................................................ ; ............................................ Mortgage bonds and participation certificates outstanding...................................... Acceptances outstanding executed by or for the account of reporting banks. . . . Dividends declared but not yet payable8 ...................................................................... Other liabilities...................................................................................................................... T o ta l m is c e lla n e o u s lia b ilit ie s ............................................................................ 78,850 5,110 61,387 279,212 (2) 258,518 683,077 48,768 3,641 43,943 263,672 42,287 238,117 640,428 46,299 2,306 35,304 175,659 37,897 218,708 516,173 35,019 1,489 31,347 198,718 43,598 271,346 581,517 38,558 1,000 27,578 180,299 45,682 360,938 654,055 32,296 1,115 23,634 203,226 48,502 300,458 609,231 37,191,461 40,287,703 41,038,417 44,707,138 47,279,804 49,867,215 3,319,216 1,962,163 470,668 491,126 1,154 6,244,327 3,348,841 1,914,833 470,017 414,087 3,789 6,151,567 3,365,309 1,892,655 529,451 420,661 5,126 6,213,202 3,300,196 1,946,020 548,084 407,369 8,756 6,210,425 3,212,615 2,042,072 628,478 401,455 13,968 6,298,588 3,081,433 2,184,512 666,020 374,295 22,442 6,328,702 43,435,788 46,439,270 47,251,619 50,917,563 53,578,392 56,195,917 3,922,453 1,880,591 4,048,426 1,500,536 3,101,588 1,342,620 2,994,476 1,180,649 3,438,857 1,043,355 3,217,375 1,014,004 T o t a l lia b ilitie s (e x c lu d in g c a p ita l a c c o u n t ) . C a p ita l a c c o u n t : Capital stock, notes, and debentures......................................................... Surplus............................................................................................................... Undivided profits— n e t.................................... .. ........................................... Reserve for contingencies and undeclared dividends8 ........................... Retirement fund for preferred stock, capital notes, and debentures. T o t a l c a p ita l a c c o u n t ........................................................................ T o t a l lia b ilitie s a n d c a p ita l a c c o u n t . M EM ORANDUM P led ged a ssets: United States Government obligations, direct and fully guaranteed, pledged to secure liabilities....................... .. . ............................................................................... Other assets pledged to secure liabilities........................................................................ S ecu red a n d p re fe rr e d lia b ilitie s : A H P-A R50 3,590,329 R,445 7P9 3,492,359 3,838,827 4.2^2 769 Deposits secured by pledged assets pursuant to requirement of law E xcludes banks not members of the Federal Reserve System as follows: 43 on Jane 30, 1934; 12 on December 31, 1934; 4 on June 29, 1935; 3 on December 31, 1935; 6 on June 30, 1936; and 3 on December 31, 1936. 2N ot reported separately. in clu d es Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only. 4N ot available. See note 3. in clu d es obligations of Joint Stock Land banks. 6Amounts reported separately only for banks not members of the Federal Reserve System. ’ Includes agreements to repurchase securities sold and obligations on industrial advances transferred to Federal Reserve banks. 8Dividends declared but not yet payable includes for national banks, amounts set aside for dividends not declared, and for State banks members of the Federal Reserv e System, amounts set aside for dividends not declared and for accrued interest on capital notes and debentures. CORPORATION 222,045 INSURANCE 650,935 DEPOSIT 694,790 FEDERAL (In thousancIs of dollars) C ir c u la tin g n o t e s o u t s t a n d i n g ........................................................................................ Table 117. A S S E TS AND L IA B IL IT IE S OF OPERATING IN SURED COMMERCIAL BA NKS NOT M E M B E R S OF T H E F E D E R A L R E S E R V E SYSTEM , C a l l D a t e s , J u n e 30, 1934, t o D e c e m b e r 31, 1936 June 30 December 31 June 29 December 31 June 30 December 31 7,521 7,695 7,765 7,736 7,659 7,594 A SSET S C a sh , b a la n c e s w ith o t h e r b a n k s, a n d ca s h ite m s in p rocess o f c o l l e c t i o n : 150,106 ( 2) 184,072 (2) 168,478 <2) 204,848 1,249 202,567 1,488 219,930 900 AND LIABILITIES Balances with private banks and American branches of foreign banks................. Other demand balances with banks in the United States: In New York C ity ........................................................................................................... (In thousarids of dollars) 256,956 972,764 42,534 4,101 49,262 261,386 1,016,739 43,363 3,711 46,621 298,823 1,174,202 48,716 2,123 61,580 1,092,997 1,275,139 1,335,900 1,531,714 1,575,875 1,806,274 D ire c t o b lig a tio n s o f t h e U n ited S ta tes G o v e rn m e n t: B ond s...................................................................................................................................... Treasury notes...................................................................................................................... Treasury bills........................................................................................................................ T o ta l d ir e c t o b lig a tio n s o f th e U nited S tates G o v e r n m e n t.................. 371,801 175,996 23,495 571,292 410,583 184,556 2,228 597,367 431,038 162,194 5,414 598,646 464,482 199,996 3,431 667,909 521,901 267,482 4,186 793,569 663,984 229,296 2,694 895,974 O b lig a tio n s f u l l y g u a r a n te e d b y t h e U n ited S ta tes G o v e rn m e n t: Reconstruction Finance C orporation............................................................................. Federal Farm M ortgage Corporation............................................................................. Hom e Owners’ Loan Corporation................................................................................... T o t a l o b lig a tio n s f u lly g u a r a n te e d by th e U. S. G o v e r n m e n t............. 922 20,461 363,498 84,881 4,073 84,688 131,866 220,627 2,991 114,204 206,641 323,836 1,989 127,535 209,465 338,989 1,994 116,966 188,016 306,976 2,381 110,870 195,124 308,375 25,643 41,338 2,231 441,135 4,815 187,760 193,797 26,794 137,365 118,632 51,828 1,231,338 3,109 43,456 1,055 457,024 4,708 200,516 210,820 26,066 142,160 118,914 49,525 1,257,353 48,955 873 474,534 5,908 195,635 234,648 23,307 159,390 106,910 49,558 1,299,718 49,828 2,686 494,189 3,911 225,605 250,841 22,675 173,324 95,995 47,522 1,366,576 45,343 3,192 525,403 4,315 240,898 285,267 20,532 201,162 94,828 42,139 1,463,079 J34,812 (<) fI 424,258 4,527 179,659 191,183 28,894 138,177 131,174 57,369 1,190,053 139 233,015 853,898 39,566 4,981 35,962 BANKS 199,984 804,602 39,645 5,848 40,988 OPERATING 185,723 682,672 32,316 4,972 37,208 OF Other time balances with banks in the United States............................................... Balances with banks in foreign countries...................................................................... Cash items in process of collection................................................................................. T o t a l c a s h , b a la n c e s w ith o t h e r b a n k s,a n d ca sh ite m s in p rocess o f c o l l e c t i o n ................................................................................................................ O th e r s e cu ritie s: Obligations of: Home Owners’ Loan Corporation guaranteed as to interest on ly ....................... Federal Land banks........................................................................................................ Federal Intermediate Credit ban ks............................................................................ States and their political subdivisions....................................................................... Territorial and insular possessions of the United States....................................... Railroads............................................................................................................................ Public utilities.................................................................................................................. Real estate corporations................................................................................................ Other domestic corporations5 ....................................................................................... Stock of other dom estic corporations............................................................................. Foreign securities— public and private.......................................................................... T o t a l o t h e r s e c u r it ie s ............................................................................................ ASSETS N um ber of banks1 .............................................................................................. 1936 1935 1934 T able 117. A s s e t s AND L i a b i l i t i e s OF OPERATING IN SURED COMMERCIAL BA NKS NOT M EM BERS OF C a l l D a t e s , J u n e 30, 1934, t o D e c e m b e r 31, 1936— Continued December 31 June 29 December 31 December 31 211,293 168,487 1,183 1,388 61,400 443,751 204,582 183,744 1,424 698 43,871 434,319 199,700 194,567 2,313 445 39,044 436,069 195,777 192,982 1,867 526 32,861 424,013 6,362,079 6,526,975 6,795,528 7,044,405 7,477,584 1,532,346 50,348 425,678 1,766,011 51,039 466,117 1,823,382 25,851 496,274 2,038,981 37,267 534,774 2,141,915 69,311 564,882 2,448,932 64,603 587,022 28,621 2,036,993 24,679 2,307,846 29,116 2,374,623 39,464 2,650,486 43,300 2,819,408 54,106 3,154,663 1,995,651 514,433 26,669 20,207 76,300 51,358 2,684,618 2.109.883 481,538 36,227 6,202 72,416 40,618 2.746.884 2,250,367 487,005 34,564 20,369 65,876 40,548 2,898,729 2,281,256 483,232 42,064 9,371 62,364 43,841 2,922,128 2,367,563 491,911 24,032 22,996 43,606 50,930 3,001,038 2,499,921 488,688 29,161 7,024 35,368 50,855 3,111,017 Loans on other real estate................................................................................................. All other loans— On securities.......................................................................................... Otherwise secured and unsecured.................................................... Overdrafts.............................................................................................................................. T o t a l lo a n s, d is c o u n ts , a n d o v e r d r a fts .......................................................... 404,945 1,073,723 2,179 2,665,698 382,900 1,049,763 3,162 2,575,051 363,681 1,072,608 2,155 2,567,489 M is ce lla n e o u s a ssets: Banking house, furniture and fixtures............................................................................ Other real estate ow ned...................................................................................................... Customers’ liability on account of acceptances........................................................... Borrowed securities.............................................................................................................. Other assets........................................................................................................................... T o ta l m is c e lla n e o u s a s s e t s .................................................................................. 215,026 140,648 1,444 2,586 86,352 446,056 211,351 151,757 1,142 1,745 96,562 462,557 T o t a l a s s e t s ................................................................................................................. 6,050,977 L IA B IL IT IE S AND C A P IT A L D e m a n d d e p o sits (exclu sive o f in te r b a n k d e p o s it s ): Individuals, partnerships, and corporations................................................................. United States G overnm ent................................................................................................ States and their political subdivisions............................................................................ Cash letters of credit, certified, officers’ , and travelers’ checks outstanding, and amounts due to Federal Reserve banks............................................................. T o t a l d e m a n d d e p o s it s .......................................................................................... T im e d e p o sits (exclu sive o f in te r b a n k d e p o s it s ): Individuals, partnerships, and corporations: Certificates of deposit...................................................................................................... Christmas savings and similar accounts.................................................................... States and their political subdivisions............................................................................ CORPORATION 54,276 315 494 1,959 5,160 28,049 8,107 229,377 812,946 211,482 244,446 318,096 662,680 2,482 2,579,869 24,782 583 1,232 3,558 8,454 33,193 5,120 237,455 824,849 INSURANCE 335,917 1,068,632 2,954 2,522,879 40,932 284 231 1,589 6,173 18,629 7,191 233.088 792,797 240,992 229,765 329,840 662.089 1,740 2,565,340 18,723 357 1,482 6,532 12,029 34,538 5,723 267,405 838,062 DEPOSIT (In thousancis of dollars) 37,954 37,621 460 459 528 537 5,477 3,751 7,337 8,753 17,897 19,224 6,810 5,688 236,290 238,946 802,623 814,066 June 30 FEDERAL L o a n s , d is c o u n ts , a n d o v e r d ra fts (in c lu d in g re d is c o u n ts ): Commercial paper bought in open m arket..........................^........................................ N otes, bills, acceptances, etc., payable in foreign countries.................................... Acceptances of other banks payable in the United States........................................ Reporting banks’ own acceptances.................................................................................. Loans to banks...................................................................................................................... Loans to brokers and dealers in securities— In New York C it y .............................. Elsewhere.......................................... 1936 1935 1934 June 30 T H E F E D E R A L R E S E R V E SYSTEM , In t e r b a n k d e p o s its : Banks in the United S ta tes............................................................................................... Banks in foreign countries................................................................................................. T o t a l in t e r b a n k d e p o s it s ...................................................................................... 78,109 1,507 79,616 91,691 1,514 93,205 87,410 1,310 88,720 94,620 4,204 98,824 95,514 4,225 99,739 102,288 4,690 106,978 5,362,072 5,671,438 5,920,185 6,372,658 38,696 2,586 12,450 1,214 <2) 55,401 110,347 29,640 1,745 8,678 905 1,975 74,129 117,072 30,023 1,388 7,729 1,090 1,621 23,476 65,327 20,820 698 6,905 1,147 2,579 26,688 58,837 18,706 445 6,801 2,078 1,683 31,286 60,999 15,116 526 5,101 1,739 3,071 25,850 51,403 T o t a l lia b ilitie s (e x c lu d in g c a p ita l a c c o u n t ) ............................................... 4,911,574 5,265,007 5,427,399 5,730,275 5,981,184 6,424,061 C a p ita l a c c o u n t : Capital stock, notes, and debentures............................................................................. S urplus.................................................................................................................................... U ndivided profits— n et....................................................................................................... Reserve for contingencies and undeclared dividends.................................................. R etirem ent fund for preferred stock, capital notes, and debentures..................... T o t a l ca p ita l a c c o u n t ............................................................................................ 667,034 271,603 83,440 116,869 457 1,139,403 684,755 253,177 79,004 78,869 1,267 1,097,072 681,990 245,631 93,085 77,133 1,737 1,099,576 666,456 235,421 89,792 70,994 2,590 1,065,253 645,418 235,556 108,195 70,145 3,907 1,063,221 627,593 248,142 105,696 64,478 7,614 1,053,523 6,050,977 6,362,079 6,526,975 6,795,528 7,044,405 7,477,584 225,203 256,788 244,182 238,010 265,258 199,182 277,258 190,574 37,473 293 502,206 30,933 472 499,237 406,005 60,505 20,221 16,551 503 ’--2S21 408,743 74,008 14,645 13,113 51ft T o t a l lia b ilitie s a r d c a p ita l a c c o u n t ....................... ......................... M EM ORANDUM 362,174 | 391,638 BANKS E xcludes banks not members of the Federal Reserve System as follows: 43 on June 30, 1934; 12 on December 31, 1934; 4 on June 29, 1935; 3 on December 31, 1935; 6 on June 30, 1936; and 3 on December 31, 1936. 2N ot reported separately. in clu d e s H om e Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only. 4N ot available. See note 3. in clu d e s obligations of Joint Stock Land banks. ■, 6Amounts reported separately only as of June 30, 1936, and December 31, 1936. ’ Includes agreements to repurchase securities sold. OPERATING S e cu re d a n d p re fe rr e d lia b ilit ie s : Deposits secured by pledged assets pursuant to requirement of la w ..................... 378,632 390,527 Deposits preferred under the provisions of law but not secured by pledge of assets6 Bills Davable. rediscounts, and other liabilities for borrowed m onev6 ................... Other liabilities secured by pledged assets6 ................................................................. ...................................................... T o t a l ................................................................................................................ OF P le d g e d a s s e ts: United States^Government obligations, direct and fully guaranteed, pledged to secure liabilities................................................................................................................. 182,483 209,650 Other assets pledged to secure liabilities....................................................................... 370,742 306,713 Assets deposited with State authorities to qualify for the exercise of fiduciary or com orate nowers. or Dled^ed for other nurnoses6. . . ................................. Securities loaned to banks, dealers in securities, and others6 .................................. .................................................... T o t a l ............................................................................................................................... LIABILITIES 5,147,935 AND 4,801,227 ASSETS T o t a l d e p o s it s ............................................................................................................ M is c e lla n e o u s lia b ilit ie s : Bills payable, rediscounts, and other liabilities for borrowed m oney7 ................... Securities borrow ed.............................................................................................................. M ortgage bonds and participation certificates outstanding..................................... A cceptances outstanding executed b y or for the account of reporting banks. . . . Dividends declared but not yet p a ya b le....................................................................... Other liabilities..................................................................................................................... T o t a l m is c e lla n e o u s lia b ilit ie s ........................................................................... A SS E TS AND L IA B IL IT IE S OF OPERATING IN SU RED COMMERCIAL BA NKS NOT M E M BERS OF T H E FE D E R A L R E S E R V E SYSTEM , D e c e m b e r 31, 1936 142 Ta b le 118. BANKS GROUPED BY AMOUNT OF DEPOSITS Banks with deposits on December 31, 1936, of— All banks ASSETS C a sh , b a la n ce s w ith o t h e r b a n k s, a n d ca sh ite m s in p ro ce s s o f c o l l e c t i o n : Coin and cu rrency............................................... Balances with banks........................................... T o t a l lo a n s a n d s e c u r it ie s ........................ $1,000,000 to $2,000,000 $2,000,000 to $5,000,000 638 2,172 2,105 1,365 789 369 86 52 5 $5,000,000 $10,000,000 Over to to $10,000,000 $50,000,000 $50,000,000 (In thousaiids of dollars') 217,477 1,511,564 59,159 2,466 18,111 139 14,336 129,711 809 26,106 230,887 2,247 32,282 264,735 5,090 38,335 277,242 9,565 36,497 228,655 11,528 18,833 126,160 6,100 29,268 187,584 16,648 19,354 48,479 7,033 1,788,200 20,716 144,856 259,240 302,107 325,142 276,680 151,093 233,500 74,866 888,898 3,108 32,962 71,029 95,836 127,193 163,360 87,255 197,635 110,520 307,433 1,570 19,047 37,867 49,415 50,098 50,620 19,453 47,380 31,983 525,244 930,516 2,652,091 3,328 1,682 9,688 29,774 32,672 114,455 68,213 89,360 266,469 84,483 144,945 374,679 94,644 182,436 454,371 79,715 200,449 494,144 41,621 96,763 245,092 73,371 152,364 470,750 50,095 29,845 222,443 53,431 110 2,394 7,736 11,001 11,034 11,351 4,686 5,119 54 17 46 133 21 8 35 314 494 1,959 5,160 17 24 11 1 49 79 8 229 283 10 15 298 41 161 234 2 528 778 67 3 984 348 950 2,493 28,049 8,056 229,225 798,962 19 3,681 2,167 55 28,984 19,914 217 52,730 49,837 544 60,130 85,889 208 1,264 42,062 137,000 773 848 25,852 165,403 3,536 1,909 6,333 91,314 12,910 2,680 7,464 124,059 10,622 520 1,989 123,379 211,477 244,446 313,233 652,929 2,480 2,550,215 10,869 1,873 547 7,427 65 26,810 53,722 14,454 4,720 50,966 204 175,596 64,077 28,057 13,439 99,279 293 316,202 45,528 37,711 27,282 118,755 412 387,621 26,135 45,721 55,795 119,179 658 439,625 8,671 52,200 69,326 95,844 576 432,173 1,322 25,627 40,972 66,668 187 243,616 1,152 33,360 80,947 83,798 82 355,397 1 5,443 20,205 11,013 3 173,175 5,202,306 36,498 290,051 582,671 762,300 893,996 926,317 488,708 826,147 395,618 CORPORATION L oa n s, d is c o u n ts , a n d ov e r d ra fts (in c lu d in g r e d is c o u n t s ): Commercial paper bought in open m arket. . Notes, bills, acceptances, etc., payable in foreign countries........................................... Acceptances of other banks payable in the United States................................................... Reporting banks’ own acceptances Loans to banks..................................................... Loans to brokers and dealers in securities— In New York City Elsewhere............................................. Loans on farm la n d ............................................. Loans on other real estate.................................. Agricultural loans (excluding loans on farm la n d )................................................................... Commercial and industrial loans..................... All other loans— On securities.......................... Otherwise secured and unsecured. . . . O verdrafts............................................................. T o ta l lo a n s, d isc o u n ts, a n d o v e r d r a fts . $500,000 to $1,000,000 INSURANCE S e cu ritie s: Obligations, direct, of the U. S. G overnm ent. Obligations fully guaranteed by the U. S. Governm ent...................................................... Obligations of States and their political subdivisions....................................................... Other securities.................................................... T o ta l s e c u r it ie s ............................................. $250,000 to $500,000 DEPOSIT T o t a l ca sh , b a la n c e s w ith o th e r b a n k s, a n d c a s h ite m s in p ro ce ss o f c o l le c t io n ........................................................... 7,581 $100,000 to $250,000 FEDERAL Number of banks1 ...................................... $100,000 and under 193,255 191,192 2,238 1,770 11,574 7,695 19,094 12,704 25,041 20,643 34,679 27,415 36,370 32,997 1,867 526 32,759 419,599 32 24 1,641 33,495 34 194 2,782 48,694 41 224 3,721 66,080 127 1,094 19 14 242 4,264 17 70 1,353 20,709 503 Other assets........................................................... T o t a l m is c e lla n e o u s a s s e t s ................... 4,676 74,546 7,492 48,320 9,196 101,294 1,656 22,197 T o t a l a s s e t s .................................................... 7,410,105 61,478 455,616 875,406 1,113,101 1,285,218 1,277,543 688,121 1,160,941 492,681 2,421,183 2,997,654 637,497 64,287 35,325 106,610 27,607 11,828 5,200 30 135 128 195,673 127,119 44,189 766 2,051 1,637 352,820 296,328 83,466 2,438 6,639 3,402 405,878 423,555 100,922 2,846 8,647 6,677 433,606 524,031 108,157 6,018 7,141 11,149 198,603 389,729 305,487 568,135 89,558 54,768 8,383 7,937 4,753 2,902 17,676 13,161 12,988 346,804 431,647 116,187 28,403 3,057 39,792 70,463 309,524 35,050 7,466 AND 53,616 6,316,172 3,221,770 3,091+,1+02 204 45,132 32,717 12,U15 1,883 373,318 2kl ,503 131,815 4,642 749,735 U0,921 308,81k 6,444 954,969 515,101 kS9,868 9,292 1,099,394 558,k00 5k0,99k 10,497 1,088,731 503,629 585,102 5,712 588,397 27 k ,085 31k,312 7,968 973,858 523,735 k50,l 23 6,974 442,638 131,679 310,959 LIABILITIES M is ce lla n e o u s a ssets: Banking house, furniture and fixtures........... Other real estate ow n ed .................................... Customers’ liability on account of accep- 15,116 526 100 34 216 70 363 24 759 194 1,753 224 2,193 819 8,913 105 191 1,374 1,791 1,254 81 188 117 15 537 2,697 5,576 28 532 3,340 7,668 482 509 4,270 8,708 122 204 5,128 6,354 1,071 411 5,688 16,271 19 75 1,493 1,704 16,111 24,590 39,036 51,968 9,112 11,410 D e p o s its : Individuals, partnerships, and corporations: D em and ............................................................. T im e ................................................................... States and their political subdivisions........... United States G overnm ent.............................. Other banks.......................................................... Cash letters of credit, certified, officers’ , and travelers’ checks outstanding....................... T o t a l d e p o s it s ............................................... Demand.......................................................... Tim e............................................................... 1,739 3,015 25,451 50,948 32 149 295 263 992 1,646 2 452 1,694 2,726 T o t a l lia b ilitie s (e x c lu d in g c a p ita l a c c o u n t ) ....................................................... 6,367,120 45,427 374,964 752,461 960,545 1,107,062 1,097,439 594,751 990,129 444,342 621,623 245,236 104,572 12,601 2,215 907 57,877 13,421 6,751 83,576 22,320 11,566 98,218 30,739 15,352 110,750 38,649 17,602 103,678 40,932 19,084 51,232 25,845 9,922 81,901 55,026 18,285 21,790 16,089 5,103 64,037 258 1,938 4,520 7,047 9,560 14,874 5,732 15,001 5,107 7,517 1,042,985 70 16,051 665 80,652 963 122,945 1,200 152,556 1,595 178,156 1,536 180,104 639 93,370 599 170,812 250 48,339 T o ta l lia b ilitie s a n d c a p ita l a c c o u n t . . 7,410,105 61,478 455,616 875,406 1,113,101 1,285,218 1,277,543 688,121 1,160,941 492,681 ^Excludes 2 national banks in Alaska, 1 national bank in the Virgin Islands, 10 banks in the District of Columbia, and 3 other banks, in clu d es agreements to repurchase securities sold. BANKS C a p ita l a c c o u n t : Capital stock, notes, and debentures............... Surplus................................................................... Undivided profits— n e t ...................................... Reserve for contingencies and undeclared dividends........................................................... Retirement fund for preferred stock, capital notes, and debentures.................................... T o ta l c a p ita l a c c o u n t ................................ OPERATING 5,101 OF M is ce lla n e o u s lia b ilitie s: Bills payable, rediscounts, and other lia bilities for borrowed m oney2 ....................... Securities borrow ed ............................................. M ortgage bonds and participation certi ficates outstanding.......................................... Acceptances outstanding executed b y or for the account of reporting ban ks................... D ividends declared but not yet p a ya b le........ Other liabilities.................................................... T o t a l m is c e lla n e o u s lia b ilitie s ASSETS L IA B IL IT IE S Ta b le 119. AVERAGES P E R BA N K OF A SSETS AND L IA B IL IT IE S , OPERATING IN SU RED COMMERCIAL BA NKS N O T M EM BERS 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 31, 1936 BANKS GROUPED BY AMOUNT OF DEPOSITS ^ Banks with deposits on December 31, 1936, of— $100,000 and under All banks Number of banks2..................................... $2,000,000 to $5,000,000 369 86 98,908 619,661 31,241 $ 218,988 1,466,977 70,930 52 5 7,581 638 2,172 2,105 1,365 789 $ 28,687 199,389 7,803 $ 3,865 28,387 218 $ 6,600 59,720 373 $ 12,402 109,685 1,068 $ 23,650 193,945 3,729 $ 48,587 351,384 12,123 235,879 32,470 66,693 123,155 221,324 412,094 749,810 1,756,895 4,490,384 14,973,200 117,254 4,871 15,176 33,743 70,210 161,208 442,710 1,014,593 3,800,673 22,104,000 63,495 137,182 226,198 911,154 6,396,600 10,019,000 5,969,000 44,488,600 $ $ 562,846 $ 3,870,800 9,695,800 3,607,384 1,406,600 320,154 2,461 8,769 17,989 36,201 69,284 122,743 349,834 5,216 2,636 15,184 13,708 15,042 52,695 32,405 42,451 126,588 61,892 106,187 274,490 119,954 231,224 575,881 216,030 543,222 1,339,144 483,965 1,125,151 2,849,907 1,410,981 2,930,077 9,052,885 7,048 172 1,102 3,675 8,059 13,985 30,762 54,488 98,442 8 34 169 57 93 673 52 204 297 5 1,431 2,108 779 35 11,442 6,692 18,269 47,942 40,553 25 41 65 258 681 27 38 17 23 36 4 109 134 8 11 218 3,700 1,063 30,237 105,390 30 5,770 3,396 25 13,344 9,169 103 25,050 23,676 399 44,051 62,922 264 1,602 53,311 173,637 2,095 2,298 70,060 448,247 41,116 22,198 73,640 1,061,791 248,269 51,539 143,539 2,385,750 2,124,400 104,000 397,800 24,675,800 27,896 32,245 41,318 86,127 327 336,396 17,036 2,936 857 11,641 102 42,022 24,734 6,655 2,173 23,465 94 80,845 30,440 13,329 6,384 47,164 139 150,215 33,354 27,627 19,987 87,000 302 283,972 33,124 57,948 70,716 151,050 834 557,193 23,499 141,463 187,875 259,740 1,561 1,171,201 15,372 297,988 476,419 775,209 2,175 2,832,745 22,154 641,539 1,556,673 1,611,500 1,577 6,834,558 200 1,088,600 4,041,000 2,202,600 600 34,635,000 686,230 57,206 133,540 276,803 558,462 1,133,074 2,510,345 5,682,652 15,887,443 79,123,600 CORPORATION T o ta l lo a n s a n d s e c u r it ie s ........................ $1,000,000 to $2,000,000 INSURANCE t o a n s , d isc o u n ts, a n d o v e r d ra fts (in c lu d in g r e d is c o u n t s ): Commercial paper bought in open market. . Notes, bills, acceptances, etc., payable in foreign countries........................................ Acceptances of other banks payable in the United States................................................... Reporting banks’ own acceptances Loans to banks ................................................... Loans to brokers and dealers in securities— In New York C it y ............................ Elsewhere............................................. Loans on farm lan d ............................................. Loans on other real estate.................................. Agricultural loans (excluding loans on farm la n d )................................................................... Commercial and industrial loans..................... All other loans— On securities.......................... Otherwise secured and unsecured. . . . Overdrafts............................................................. T o ta l lo a n s, d isc o u n ts, a n d o v e r d r a fts . Over $5,000,000 $10,000,000 $50,000,000 to to $10,000,000 $50,000,000 0) $500,000 to $1,000,000 DEPOSIT S e cu ritie s: Obligations, direct, of the U. S. Government. Obligations fully guaranteed by the U. S. Governm ent...................................................... Obligations of States and their political subdivisions...................................................... Other securities.................................................... T o ta l s e c u r itie s ............................................. $250,000 to $500,000 FEDERAL ASSETS C a sh , b a la n ces w ith o t h e r b a n k s, a n d ca sh ite m s in p ro ce s s o f c o lle c t io n : Coin and currency............................................... Balances with banks........................................... Cash items in process of collection................. T o t a l ca s h , b a la n ce s w ith o t h e r b a n k s, a n d ca s h ite m s in p ro ce s s o f c o l le c t io n .......................................................... $100,000 to $250,000 M is ce lla n e o u s a ssets: Banking house, furniture and fixtures........... Other real estate ow n ed.................................... Customers’ liability on account of accep tances ................................................................. Borrowed secu rities......................................... Other assets.......................................................... T o t a l m is c e lla n e o u s a s s e t s ................... T o t a l a s s e t s .................................................... 25,492 25,220 3,507 2,775 5,329 3,543 9,070 6,035 18,345 15,123 43,953 34,747 98,563 89,423 246 69 4,321 55,348 22 380 6,684 g 32 623 9,535 15 12 780 15,912 25 142 2,038 35,673 52 284 4,716 83,752 1,363 1,477 21,039 3,800 12,672 202,021 87,116 561,860 176,846 1,947,961 331,200 4,439,400 977,457 96,360 209,768 415,870 815,459 1,628,920 3,462,176 8,001,407 22,325,788 98,536,200 319,375 395,417 84,091 8,480 4,660 14,063 43,271 18,539 8,150 47 212 201 90,089 58,526 20,345 353 944 754 167,611 140,774 39,651 1,158 3,154 1,616 297,347 310,297 73,935 2,085 6,335 4,891 549,564 664,171 137,081 7,627 9,051 14,131 1,056,176 1,539,661 242,705 22,718 12,881 47,903 2,309,337 3,552,175 636,837 92,291 33,744 151,023 6,669,308 8,300,904 2,234,365 546,212 58,788 765,231 14,092,600 61,904,800 7,010,000 1,493,200 7,072 833,158 l+21+,979 1*08,179 320 70,740 51,281 19,1*59 867 171,878 111,189 60,689 2,205 356,169 209,1*61* 11*6,705 4,721 699,611 377,363 322,21+8 11,777 1,393,402 707,731 685,671 28,447 2,950,491 1,361*, 81+9 1,585,61+2 66,419 6,841,826 3,187,035 3,651+,791 153,231 18,728,039 10,071,827 8,656,212 1,994 69 157 22 100 32 172 12 556 142 2,222 284 5,943 9,523 171,404 48 91 1,007 2,270 3,398 942 3,615 23,400 11 394 1,975 4,085 35 674 4,233 9,718 1,306 1,379 11,572 23,598 1,418 2,372 59,628 73,883 20,596 7,904 109,384 312,903 3,800 15,000 298,600 340,800 187,337 285,930 750,692 999,384 1,822,400 2,282,000 ’ 2,632,266' 121 456 757 T o t a l lia b ilitie s (e x c lu d in g ca p ita l a c c o u n t ) ...................................................... 839,878 71,202 172,635 357,464 703,696 1,403,120 2,974,089 6,915,709 19,040,942 88,868,400 81,997 32,349 13,794 19,750 3,472 1,422 26,647 6,179 3,108 39,704 10,603 5,495 71,955 22,519 11,247 140,367 48,985 22,309 280,970 110,927 51,718 595,721 300,523 115,373 1,575,019 1,058,192 351,635 4,358,000 3,217,800 1,020,600 C a p ita l a c c o u n t : Capital stock, notes, and debentures.......... Surplus................................................................... Undivided profits— n e t...................................... Reserve for contingencies and undeclared dividends........................................................... Retirement fund for preferred stock, capital notes, and debentures.................................... T o ta l ca p ita l a c c o u n t ................................ 8,447 404 893 2,147 5,163 12,117 40,309 66,651 288,481 1,021,400 992 137,579 110 25,158 306 37,133 457 58,406 879 111,763 2,022 225,800 4,163 488,087 7,430 1,085,698 11,519 3,284,846 50,000 9,667,800 T o ta l lia b ilitie s a n d ca p ita l a c c o u n t .. 977,457 96,360 209,768 415,870 815,459 1,628,920 3,462,176 8,001,407 22,325,788 98,536,200 ^Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. Excludes 2 national banks in Alaska, 1 national bank in the Virgin Islands, 10 banks in the District of Columbia, and 3 other banks, in clu d es agreements to repurchase securities sold. BANKS 50 233 462 1 215 804 1,295 673 OPERATING 229 398 3,357 6,720 OF M is c e lla n e o u s lia b ilit ie s : Bills payable, rediscounts, and other lia bilities for borrowed m oney3 ....................... Securities borrow ed............................................. M ortgage bonds and participation certi ficates outstanding.......................................... Acceptances outstanding executed b y or for the account of reporting b an k s................... 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 lia b ilit ie s ............... LIABILITIES 1,394,800 88,527,600 26,335,800 62,191,800 AND D e p o s its : Individuals, partnerships, and corporations: D em and............................................................. T im e ................................................................... States and their political subdivisions.......... United States G overnm ent.............................. Postal savings....................................................... Other banks.......................................................... Cash letters of credit, certified, officers’ , and travelers’ checks outstanding....................... T o t a l d e p o s i t s ............................................... Demand.......................................................... T im e................ .............................................. ASSETS L IA B IL IT IE S Ta b le 120. PERC ENTAG E D IS T R IB U T IO N OF A SSETS AND L IA B IL IT IE S , OPERATING IN SU RED COMMERCIAL BA NKS NOT M EM B ER 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 , D e c e m b e r 31, 1936 ^ ^ BANKS GROUPED BY AMOUNT OF DEPOSITS 1365 789 $5,000,000 $10,000,000 Over to to $50,000,000 $10,000,000 $50,000,000 O 369 86 52 5 (Ratios to total assets, in percent) 2.9 20.4 .8 4.0 29.5 .2 3.1 28.5 .2 2.9 26.4 .3 2.9 23.8 .4 3.0 21.6 .7 2.9 17.9 .9 2.7 18.4 .9 2.5 16.2 1.4 3.9 9.8 1.5 24.1 33.7 31.8 29.6 27.1 25.3 21.7 22.0 20.1 15.2 22.4 12.0 5.0 7.2 8.1 8.6 9.9 12.8 12.7 17.0 4.2 2.6 4.2 4.3 4.5 3.9 3.9 2.8 4.1 6.5 7.1 12.6 35.9 5.4 2.8 15.8 6.5 7.2 25.1 7.8 10.3 30.5 7.6 13.1 33.8 7.4 14.1 35.3 6.2 15.7 38.6 6.0 14.0 35.5 6.3 13.2 40.6 10.2 6.1 45.2 .7 .2 .5 .9 1.0 .9 .9 .7 .4 .1 .1 .1 .2 .1 3.3 10.7 .1 .1 2.0 12.9 .5 .3 .9 13.3 1.1 .2 2.2 10.7 A 25.0 .7 4.1 5.4 7.5 .1 33.9 2 3/7 6.0 9.7 i 2!9 7.0 7.2 1.1 4.1 2.2 35.4 30.6 35.1 72.5 70.9 71.2 80.3 .1 .4 .1 3.1 10.8 .1 6.0 3.5 6.4 4.4 6.0 5.7 5.4 7.7 11.8 3.2 1.0 11.2 .1 38.6 7.3 3.2 1.5 11.4 4.1 3.4 2.5 10.7 34.4 17.7 3.1 .9 12.1 .1 43.6 36.1 34.8 2.0 3.6 4.3 9.3 .1 34.3 70.3 59.4 63.7 66.6 68.6 69.6 2.9 3.3 4.2 8.8 CORPORATION 2105 $2,000,000 to $5,000,000 INSURANCE T o t a l lo a n s a n d s e c u r it ie s ....................... 2172 $1,000,000 to $2,000,000 DEPOSIT L oa n s, d is c o u n ts , a n d o v e r d ra fts (in c lu d in g r e d is c o u n t s ): Commercial paper bought in open m arket. . Notes, bills, acceptances, etc., payable in foreign countries............................................. Acceptances of other banks payable in the United States................................................... Reporting banks’ own acceptances................. Loans to ban ks..................................................... Loans to brokers and dealers in securities— In N ew York C it y ............................ E lsewhere............................................. Loans on farm la n d ............................................. Loans on other real estate.................................. Agricultural loans (excluding loans on farm la n d ).................................................. .. .............. Commercial and industrial loans..................... All other loans— On securities.......................... Otherwise secured and unsecured. . . . Overdrafts............................................................. T o t a l lo a n s, d is c o u n ts , a n d o v e r d r a fts . 638 $500,000 to $1,000,000 FEDERAL S e cu ritie s: Obligations, direct, of the U. S. G overnm ent. Obligations fully guaranteed b y the U. S. Governm ent...................................................... Obligations of States and their political subdivisions....................................................... Other securities.................................................... T o ta l s e c u r it ie s ............................................. 7581 $250,000 to $500,000 i o ASSETS C ash , b a la n ces w ith o t h e r b a n k s, a n d ca sh ite m s in p ro ce s s o f c o lle c t io n : Coin and cu rrency............................................... Balances with banks........................................... Cash items in process of collection................. T o t a l ca s h , b a la n ces w ith o t h e r b a n k s. a n d c a s h ite m s in p ro ce s s o f c o l le c t io n ........................................................... $100,000 to $250,000 05 Number of banks2 ...................................... $100,000 and under CO Banks with deposits on December 31, All M is ce lla n e o u s a ssets: Banking house, furniture and fixtures........... Other real estate ow n ed .................................... Customers’ liability on account of accep tances ................................................................. Borrowed securities......................................... Other assets.......................................................... T o t a l m is c e lla n e o u s a s s e t s ................... 2.2 1.4 2.2 1.8 2.7 2.1 2.9 2.6 2.4 3.6 3.3 4.5 1.8 2.3 .4 5.6 .4 6.9 .3 4.5 .2 3.8 .3 4.3 .3 5.1 .3 5.8 1.1 7.1 •8 8.7 .4 4.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 32.7 40.5 8.6 .9 .4 1.4 44.9 19.2 8.5 .1 .2 .2 42.9 27.9 9.7 .2 .4 .4 40.3 33.9 9.5 .3 .7 .4 36.4 38.1 9.1 .2 .8 .6 33.7 40.8 8.4 .5 .5 .9 30.5 44.5 7.0 .6 .4 1.4 28.8 44.3 8.0 1.2 .4 1.9 29.9 37.2 10.0 2.4 .3 3.4 14.3 62.9 7.1 1.5 .7 85.2 43.5 41.7 .3 73.4 53.2 20.2 .4 81.9 53.0 28.9 .5 85.6 50.4 35.2 .6 85.8 46.3 39.5 .7 85.5 43.4 42.1 .8 85.2 39.4 45.8 .9 85.5 39.8 45.7 .7 83.9 45.1 38.8 1.4 89.9 26.8 63.1 .2 .2 .1 .1 .1 .1 .2 .1 .8 .1 .1 .1 L IA B IL IT IE S D e p o s its : Individuals, partnerships, and corporations: D em and.................................................. T im e ........................................................ States and their political subdivisions . United States G overnm ent................... Postal savings............................................ Other banks................................................ Cash letters of credit, certified, officers’ , and travelers’ checks outstanding............. T o t a l d e p o s it s .................................... Demand............................................... Tim e.................................................... 2.7 .1 .3 .7 A .2 .5 .1 .2 .4 .1 .2 .4 .1 .2 .5 .1 .3 .6 .4 .7 .8 .9 .5 1.4 .3 .3 T o t a l lia b ilitie s (e x c lu d in g ca p ita l a c c o u n t ) ............................................ 85.9 73.9 82.3 86.0 86.3 86.1 85.9 86.4 85.3 90.2 8.4 3.3 1.4 20.5 3.6 1.5 12.7 2.9 1.5 9.6 2.5 1.3 8.8 2.8 1.4 8.6 3.0 1.4 8.1 3.2 1.5 7.5 3.8 1.4 7.1 4.7 -1.6 4.4 3.3 1.0 .1 .9 .4 .4 .5 .6 .8 1.2 .8 1.2 1.0 .1 14.1 .1 26.1 .2 17.7 .1 14.0 .1 13.7 .1 13.9 .1 14.1 .1 13.6 .1 14.7 .1 9.8 T o ta l lia b ilitie s a n d c a p ita l a c c o u n t . . 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ^Because of the small number of banks, the figures for this group are not necessarily typical of those banks with deposits of over $50,000,000. JiiXcludes 2 national banks in Alaska, 1 national bank in the Virgin Islands, 10 banks in the District of Columbia, and 3 other banks, in clu d es agreements to repurchase securities sold. BANKS C a p ita l a c c o u n t : Capital stock, notes, and debentures. Surplus......................................................... Undivided profits— n e t............................ Reserve for contingencies and undeclared dividends........................................................... Retirement fund for preferred stock, capital notes, and debentures.......................... T o ta l ca p ita l a c c o u n t ...................... OPERATING .1 OF M is ce lla n e o u s lia b ilitie s : Bills payable, rediscounts, and other lia bilities for borrowed m oney3 ....................... Securities borrow ed............................................. M ortgage bonds and participation certi ficates outstanding......................................... Acceptances outstanding executed b y or for the account of reporting ban ks......... Dividends declared but not yet payable Other liabilities......................................... T o t a l m is ce lla n e o u s lia b ilit ie s .. . LIABILITIES 2.5 1.7 AND 3.6 2.9 ASSETS T o t a l a ssets. 2.6 2.6 Table 121. EXAM IN ERS’ ANALYSIS OF INSURED BANKS EX A M IN ERS’ ANALYSIS OF CAPITAL AND L IA B IL IT IE S OF OPERATING IN SU RED COMMERCIAL BA NKS 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 in a t io n i n 1936 banks grouped by amount o f d e p o s it s a n d by states Liabilities (exclusive of capital account) Capital account Number of banks1 RFC capital Private capital Net deductions or additions Sound capital Sound private capital Total Deposits Other liabilities (In thousands of dollars) 188,806 893,003 98,199 983,610 794,804 5,854,892 5,754,148 100,744 B an ks w ith d e p o sits as o f d a te o f e x a m in a tio n o f — $100,000 and under............................................................ $100,000 to $250,000.......................................................... $250,000 to $500,000.......................................................... 765 2,369 1,992 19,650 92,790 127,096 3,123 13,853 20,656 16,527 78,937 106,440 2,796 6,816 6,134 16,854 85,974 120,962 13,731 72,121 100,306 54,008 409,713 713,164 53,359 405,431 707,755 649 4,282 5,409 $500,000 to $1,000,000...................................................... $1,000,000 to $2,000,000.................................................. $2,000,000 to $5,000,000.................................................. 1,257 709 340 153,925 179,718 187,840 27,109 34,123 30,824 126,816 145,595 157,016 8,408 16,856 20,139 145,517 162,862 167,701 118,408 128,739 136,877 888,946 997,042 1,024,420 878,442 982,077 1,011,028 10,504 14,965 13,392 $5,000,000 to $10,000,000................................................ $10,000,000 to $50,000,000.............................................. Over $50,000,000................................................................ 75 44 4 101,287 165,254 54,249 17,587 28,031 13,500 83,700 137,223 40,749 12,673 22,813 1,564 88,614 142,441 52,685 71,027 114,410 39,185 534,664 866,187 366,748 512,413 842,250 361,393 22,251 23,937 5,355 S ta te A labam a................................................................................ Arizona .............................. Arkansas................................................................................ California.............................................................................. C olorado................................................................................ 120 5 154 95 55 8,544 1,635 8,883 60,338 3,070 1,066 1,862 12,552 568 7,478 1,635 7,021 47,786 2,502 56 202 955 355 8,488 1,837 7,928 64,972 2,715 7,422 1,837 6,066 52,420 2,147 36,698 15,516 43,439 397,987 23,663 36,160 15,433 43,067 394,118 23,615 538 83 372 3,869 48 C onnecticut........................................................................... Delaware................................................................................ District of Columbia^ .............................. Florida................................................................................... G eorgia.................................................................................. 37 24 10 93 182 17,574 9,473 2,732 221 14,842 9,252 1,917 27 15,657 9,500 12,925 9,279 106,277 41,732 99,859 41,003 6,418 729 8,570 14,617 502 1,538 8,068 13,079 218 267 8,788 14,350 8,286 12,812 52,050 65,887 51,916 64,831 134 1,056 Id a h o ...................................................................................... Illinois.................................................................................... Indiana.................................................................................. Io w a ........................................................................................ Kansas................................................................................... 20 480 353 438 254 1,095 50,519 45,045 27,122 13,505 215 3,332 7,416 2,278 2,586 880 47,187 37,629 24,844 10,919 12 1,052 6,350 1,0 U2 403 1,107 51,571 38,695 28,164 13,102 892 48,239 31,279 25,886 10,516 8,450 317,524 292,345 237,893 90,974 8,447 315,777 285,261 237,505 90,921 3 1,747 7,084 388 53 K en tu ck y.............................................................................. 275 109 16 109 40 25,637 14,762 7,521 19,246 20,032 3,197 3,953 2,925 3,525 1,975 22,440 10,809 4,596 15,721 18,057 1,753 85 3,014 477 2,898 23,884 14,847 4,507 18,769 17,134 20,687 10,894 1,582 15,244 15,159 133,591 75,077 31,893 98,765 105,049 132,307 74,518 31,820 96,819 104,224 1,284 559 73 1,946 825 M aryland............................................................................... Massachusetts...................................................................... CORPORATION 1,081,809 INSURANCE 7,555 DEPOSIT U n ite d S ta tes a n d p ossession s— t o t a l ........................ FEDERAL Total £ oo 19,915 17,478 10,526 25,824 2,548 2,790 1,097 178 3,001 28 25,022 21,433 16,351 26,270 2,990 17,125 18,575 10,704 22,823 2,520 194,148 154,014 108,278 208,677 19,517 187,923 153,673 107,287 205,558 19,469 6,225 341 991 3,119 48 N ebraska............................................................................... N evada2............................................................................... N ew Hampshire2................................................................. New Jersey........................................................................... New M ex ico......................................................................... 228 3 3 97 14 9,054 1,677 7,377 11+9 9,203 7,526 56,707 56,515 192 63,736 818 14,646 223 49,090 595 24,056 35 39,680 783 25,034 560 331,278 8,306 322,474 8,304 8,804 2 New Y o r k ............................................................................. N orth Carolina.................................................................... North D a k ota ..................................................... O h io ........................................................................................ Oklahom a.............................................................................. 183 180 120 365 168 132,140 22,390 4,498 54,736 5,879 23,073 3,602 1,274 14,885 55 109,067 18,788 3,224 39,851 5,824 21,082 1,573 1,504 3,407 47 111,058 23,963 2,994 51,329 5,832 87,985 20,361 1,720 36,444 5,777 608,233 148,262 17,722 296,579 44,257 587,860 143,119 17,670 294,741 44,038 20,373 5,143 52 1,838 219 O regon................................................................................... Pennsylvania........................................................................ R hode Island2....................... ....................... South C arolina.................................................................... South D a k o ta ...................................................................... 43 295 2 87 119 3,688 154,121 932 15,010 2,756 139,111 208 10,717 3,896 143,404 2,964 128,394 29,126 563,441 28,929 550,330 197 13,111 5,355 4,883 712 880 4,643 4,003 135 1,005 5,220 3,878 4,508 2,998 41,925 22,570 41,730 22,508 195 62 Tennessee.............................................................................. T exa s...................................................................................... U tah....................................................................................... V erm ont................................................................................ V irginia.................................................................................. 227 292 27 33 164 17,200 23,439 4,134 18,961 23,989 3,425 6,035 496 7,210 4,255 13,775 17,404 3,638 11,751 19,734 2,383 2,142 112 7,661 3,410 14,817 21,297 4,246 11,300 20,579 11,392 15,262 3,750 4,090 16,324 97,888 107,576 24,286 51,278 118,440 96,337 107,285 24,193 50,864 111,505 1,551 291 93 414 6,935 W ashington........................................................................... W est V irginia....................................................................... W isconsin.............................................................................. W yom ing............................................................................... 87 75 455 23 4,957 13,997 44,923 1,769 1,037 2,231 12,356 570 3,920 11,766 32,567 1,199 388 4,093 2,055 217 5,345 9,904 42,868 1,552 4,308 7,673 30,512 982 32,065 59,232 256,912 11,500 31,876 59,068 255,943 11,448 189 164 969 52 Possessions2.......................................................................... 2 *The number of banks examined during the year does not agree with the number of banks at the close of the year. 2Figures are included in deposit groups and in total. N O T E : Italics indicate net addition to capital account. BANKS 7,897 2,858 5,647 3,447 470 INSURED 27,812 20,336 16,173 29,271 3,018 OF 254 432 168 487 53 EXAMINERS’ ANALYSIS M ichigan............................................................................... M innesota............................................................................. Mississippi............................................................................. Missouri................................................................................. M on tana................................................................................ 150 T able 122. C A PITA L RA TIO S OF OPERATING IN SU RED COMMERCIAL BA NKS NOT M EM BERS OF T H E F E D E R A L R E S E R V E S y s t e m , E x a m in a t io n s O c t o b e r 1,1 933 , t o D e c e m b e r 31,1936 BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES Ratio of sound capital to— 1934 1935 1936 *1933 1934 | U933 1936 1935 1934 1936 1935 (Ratios in percent) 14.0 14.4 11.2 15.8 16.6 17.1 45.1 67.2 76.5 90.9 B an ks w ith d e p o s i t s o f $100,000 and u n d er........... $100,000 to $250,000........ $250,000 to $500,000........ 22.8 14.0 10.4 25.2 18.2 15.1 24.7 17.7 15.1 23.8 17.3 14.5 31.8 17.2 12.2 34.5 22.5 17.9 33.5 21.9 17.9 31.6 21.2 17.1 69.0 60.1 52.1 80.6 81.1 77.3 83.8 87.5 86.4 85.8 92.7 95.2 $500,000 to $1,000,000. . . . $1,000,000 to $ 2,000,000... $2,000,000 to $5,000,000. . . 8.4 7.9 9.3 13.4 13.1 12.7 13.7 13.9 13.1 14.1 14.0 14.1 9.8 9.2 10.6 15.9 15.4 14.8 16.0 16.4 15.4 16.6 16.6 16.6 40.7 37.7 42.3 68.9 67.3 62.7 82.8 77.2 71.8 94.5 90.6 89.3 $5,000,000 to $10,000,000. . $10,000,000 to $50,000,000. Over $50,000,0003............... 10.0 13.0 13.5 11.5 15.1 16.1 44.0 61.5 69.4 2.6 6.6 11.5 17.3 16.9 14.6 19.6 43.9 66.2 87.5 86.2 97.1 Connecticut................... Delaware........................ District of Colum bia4. Florida............................ Georgia........................... Id a h o . . . Illinois. . Indiana. Io w a . .. Kansas. J 1 2.6 6.2 10.2 18.4 (3) 14.5 5.5 4.7 21.5 (s) 18.8 9.7 11.4 19.6 10.8 17.2 12.7 10.9 18.8 10.6 15.4 14.0 10.3 23.9 (3) 18.2 5.9 5.1 28.1 (3) 23.5 10.7 12.8 25.3 12.1 20.9 14.7 12.2 23.5 11.9 18.4 16.5 11.5 61.2 (3) 59.7 45.8 22.6 84.9 (3) 83.0 80.7 72.4 90.6 108.0 85.3 92.6 78.7 99.3 112.4 89.2 107.7 88.4 9.3 12.3 12.7 16.8 12.6 16.4 12.8 18.5 10.7 14.3 14.8 19.8 14.6 19.8 15.7 23.2 50.7 60.8 69.9 77.9 77.2 87.4 89.1 100.3 16.9 18.1 15.9 20.8 15.5 19.0 14.4 17.9 21.0 24.0 19.0 28.0 24.9 22.1 68.2 86.5 90.5 98.2 11.6 14.0 11.7 10.6 12.6 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 13.1 16.3 13.6 11.9 14.4 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 90.7 101.1 102.1 85.9 103.8 97.0 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 I CORPORATION S ta te Alabam a. Arizona. . . Arkansas. . California. C olora d o.. J 1 14.2 14.1 12.6 INSURANCE 13.5 S ta tes — t o ta l. DEPOSIT 9.6 U n ite d FEDERAL 11933 Total capital account Total deposits Appraised value of assets 15.2 16.5 12.4 16.0 14.0 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 18.1 19.9 14.2 19.4 16.4 57.4 48.2 7.6 56.0 41.4 80.7 79.1 21.8 70.4 62.2 83.8 89.5 45.1 78.7 70.6 93.2 100.6 59.9 97.5 85.5 M ichigan........... M innesota......... Mississippi Missouri............. M on tana ........... 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 11.4 12.2 13.1 11.2 13.3 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 13.3 13.9 15.2 12.8 15.4 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 90.0 105.4 101.1 89.7 99.1 Nebraska............... Nevada4................. New Hampshire4 . N ew Jersey........... New M ex ico......... 11.6 14.2 13.8 14.0 13.2 16.4 16.1 16.3 53.2 89.0 95.6 101.6 5.4 .9 5.1 9.2 7.9 10.7 8.6 6.0 .9 5.7 10.2 8.8 9.7 12.3 9.4 19.0 5.8 22.3 75.8 35.9 87.3 62.3 95.7 N ew Y o r k ......... North Carolina. North Dakota. . O h io.................... Oklahom a.......... 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 15.4 13.9 14.5 14.8 11.6 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 18.9 16.7 16.9 17.4 13.2 37.6 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 84.0 107.0 66.6 93.8 99.2 Oregon................ Pennsylvania.. . R hode Island4 .. South Carolina. South D akota. . 7.0 17.0 13.2 18.0 11.0 18.8 11.8 20.3 7.7 22.1 15.1 23.2 12.3 24.1 13.5 26.1 45.9 55.7 92.9 64.5 93.0 72.7 105.6 93.0 7.5 10.2 9.9 12.9 10.8 15.7 11.1 14.7 8.4 12.1 11.0 15.0 12.2 18.6 12.5 17.2 50.6 46.1 88.0 57.0 91.4 75.2 97.5 79.4 Tennessee. Texas. . . . U ta h ........ V e rm on t.. V irginia. . . 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 13.1 16.5 14.9 18.1 14.8 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 15.4 19.9 17.6 22.2 18.5 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 86.1 90.9 102.7 59.6 85.8 W ashington. .. W est V irginia. W isconsin........ W yom in g......... 14.0 9.3 5.4 7.9 17.1 13.5 11.8 12.1 15.3 13.8 13.0 11.3 14.3 14.3 14.3 11.9 17.0 11.5 6.1 8.8 20.3 15.9 13.6 13.7 18.2 16.2 15.1 12.8 16.8 16.8 16.7 13.6 66.3 40.6 31.5 41.2 88.1 56.0 60.1 68.1 95.7 63.5 76.9 79.2 107.8 70.8 95.4 87.7 E xam ination for admission to insurance in 1933 and 1934. 3For 1933 and 1936, deposits as of date of examination. For 1934 and 1935, deposits as of December 31. 3Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000 000. 4Figures are included in deposit groups and in total. BANKS 15.0 18.0 10.5 14.7 12.5 INSURED 16.2 19.1 3.2 14.9 11.6 OF 13.1 11.2 1.2 12.1 7.6 EXAMINERS’ ANALYSIS K en tu cky........... Louisiana........... M aine................. M aryland.......... Massachusetts.. 152 Table 123. EX A M IN ERS’ A NA LYSIS OF A SSETS OF OPERATING IN SU RED COMMERCIAL BA NKS NOT M EM B ER 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 , L a t e s t E x a m in a t io n i n 1936 BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES Loans, discounts, and overdrafts Total assets value loss and doubtful Assets not shown on books2 Appraised value Book Value Appraised value Estimated loss and doubtful Total Loss Doubtful Total Slow N ot criticized (In thous;ands of dollairs) U n ite d S ta tes a n d p osses- 88,593 6,838,502 2,506,889 110,484 89,002 21,482 2,396,405 527,345 1,869,060 B an k s w ith d e p o sits as o f d a te o f e x a m in a tio n o f — $100,000 and un der............... $100,000 to $250,000............. $250,000 to $500,000............. 765 2,369 1,992 73,658 502,503 840,260 3,184 11,249 15,468 388 4,433 9,334 70,862 495,687 834,126 34,704 203,958 317,689 2,222 7,244 9,783 1,474 4,731 6,829 748 2,513 2,954 32,482 196,714 307,906 7,745 40,244 59,476 24,737 156,470 248,430 $500,000 to $1,000,000......... $1,000,000 to $2,000,000___ $2,000,000 to $5,000,000___ 1,257 709 340 1,042,871 1,176,760 1,212,260 20,843 31,360 35,749 12,435 14,504 15,610 1,034,463 1,159,904 1,192,121 381,747 422,318 432,754 12,792 18,249 22,456 9,553 14,735 18,673 3,239 3,514 3,783 368,955 404,069 410,298 78,063 89,680 98,697 290,892 314,389 311,601 $5,000,000 to $10,000,000. . . $10,000,000 to $50,000,000. . Over $50,000,000.................... 75 44 4 635,951 1,031,441 420,997 21,527 37,114 10,298 8,854 14,301 8,734 623,278 1,008,628 419,433 239,607 319,136 154,976 11,702 20,141 5,895 10,306 17,079 5,622 1,396 3,062 273 227,905 298,995 149,081 48,853 75,132 29,455 179,052 223,863 119,626 S ta te A labam a.................................... Arizona ..................... Arkansas................................... California.................................. C olorado................................... 120 5 154 95 55 45,242 17,151 52,322 458,325 26,733 372 87 1,289 5,144 758 316 289 334 9,778 403 45,186 17,353 51,367 462,959 26,378 17,282 4,217 16,300 178,821 9,569 214 38 1,035 3,776 574 154 32 695 3,255 343 60 6 340 521 231 17,068 4,179 15,265 175,045 8,995 2,966 719 3,632 33,667 1,713 14,102 3,460 11,633 141,378 7,282 37 24 10 93 182 123,851 51,205 3,341 802 1,424 829 121,934 51,232 49,532 18,269 2,642 537 2,320 225 322 312 46,890 17,732 17,364 3,847 29,526 13,885 60,620 80,504 530 1,105 748 838 60,838 80,237 14,498 31,177 260 538 141 348 119 190 14,238 30,639 2,126 6,984 12,112 23,655 20 480 353 438 254 9,545 368,043 337,390 265,015 104,479 92 4,793 9,417 1,099 1,451 104 5,845 3,067 2,141 1,048 9,557 369,095 331,040 266,057 104,076 2,729 105,091 110,041 103,535 37,721 76 3,076 5,058 751 845 47 2,526 4,335 380 376 29 550 723 371 469 2,653 102,015 104,983 102,784 36,876 289 24,947 26,172 16,488 3,663 2,364 77,068 78,811 86,296 33,213 ..................... Connecticut D elaw are.................................. F lorida...................................... Georgia...................................... Id a h o ......................................... Illinois....................................... Indiana...................................... Kansas...................................... CORPORATION 186,792 INSURANCE 6,936,701 DEPOSIT 7,555 FEDERAL N um ber of banks1 157,475 89,924 36,400 117,534 122,183 70,119 28,341 18,783 46,772 53,563 2,194 432 2,201 2,109 1,791 1,634 313 1,849 1,493 1,204 560 119 352 616 587 67,925 27,909 16,582 44,663 51,772 15,314 . 7,065 6,141 11,524 9,059 52,611 20,844 10,441 33,139 42,713 M ich igan ........... M innesota......... Mississippi......... M issouri............. M on tana............ 254 432 168 487 53 221,960 174,350 124,451 237,948 22,535 4,031 1,663 966 5,138 262 1,241 2,760 1,144 2,137 234 219,170 175,447 124,629 234,947 22,507 67,519 60,998 36,892 92,960 6,492 1,436 1,151 675 3,822 193 946 463 612 2,481 82 490 688 63 1,341 111 66,083 59,847 36,217 89,138 6,299 7,107 7,322 8,610 17,402 875 58,976 52,525 27,607 71,736 5,424 N ebraska........... N evada3............. New Hampshire1 New Jersey. . . . New M ex ico. . . 228 3 3 97 14 65,761 474 623 65,910 23,868 265 138 127 23,603 2,783 20,820 395,014 9,124 28,492 109 4,436 74 370,958 9,089 132,265 2,921 16,351 83 15,191 47 1,160 36 115,914 2,838 31,373 474 84,541 2,364 New Y o r k ......... N orth Carolina. N orth Dakota. . O h io .................... Oklahom a.......... 183 180 120 365 168 740,373 170,652 22,220 351,315 50,136 32,897 1,617 1,675 7,531 436 11,815 3,190 171 4,124 389 719,291 172,225 20,716 347,908 50,089 290,689 50,266 8,622 136,836 14,397 20,475 1,132 1,240 4,908 246 17,579 790 798 4,372 112 342 442 536 134 270,214 49,134 7,382 131,928 14,151 53,878 7,301 2,348 32,985 1,375 216,336 41,833 5,034 98,943 12,776 O regon............... Pennsylvania.. . Rhode Island3.. South Carolina. South D a k ota . . 43 295 2 87 119 32,814 717,562 265 23,499 473 12,782 33,022 706,845 10.413 244,245 167 10,532 82 9,419 10,246 233,713 2,369 59,038 7,877 174,675 47,280 27,453 554 1,185 419 180 47,145 26,448 11,436 10,803 268 923 209 681 59 242 11,168 820 1,891 10,348 7,989 Tennessee.......... T e x a s.................. U ta h ................... V erm ont............. Virginia.............. 227 292 27 33 164 115,088 131,015 28,420 70,239 142,429 3,156 2,721 333 8,101 4,244 773 579 445 440 834 112,705 128,873 28,532 62,578 139,019 50,430 45,977 11,033 33,678 73,378 1,741 1,816 155 4,122 2,910 1,123 1,250 135 3,545 2,026 618 566 20 577 884 48,689 44,161 10,878 29,556 70,468 12,989 9,547 1,052 16,225 16,083 35,700 34,614 9,826 13,331 54,385 W ashington. . . . W est V irginia. . W isconsin.......... W yom in g........... 87 75 455 23 37,022 73,229 301,835 13,269 250 4,404 5,967 299 638 311 3,912 82 37,410 69,136 299,780 13,052 12,917 30,069 92,721 5,533 151 2,661 3,863 231 35 2,083 2,636 106 116 578 1,227 125 12,766 27,408 88,858 5,302 1,629 7,814 23,615 1,895 11,137 19,594 65,243 3,407 BANKS 1,880 914 222 2,699 1,138 INSURED 3,633 829 3,236 3,176 4,036 OF 159,228 89,839 39,414 118,011 125,081 ANALYSIS 275 109 16 109 40 EXAMINERS* K en tu cky.......... Louisiana........... M aine................. M aryland.......... Massachusetts.. Possessions3. . . . *The number of banks examined during the year does not agree with the number of banks at the close of the year. 2 Assets not shown on books” are not allocated to types of assets. 3Figures are included in deposit groups and in total. OT 00 cn Ta b le 123. EXAM INERS* A N A LYSIS OF A SSETS OF OPERATING IN SU RED COMMERCIAL BA N KS NOT M E M B E R S OF T H E F e d e r a l R e s e r v e S y s t e m , L a t e s t E x a m in a t io n i n 1936— Continued BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY S TA TES Other assets Securities B ook value Estimated loss and doubtful Appraised value Book value Appraised value Estimated loss and doubtful Total Doubtful Loss Total Slow N ot criticized (In thousands of dollars) 19,529 2,403,715 2,006,568 56,779 53,630 3,149 1,949,789 262,667 ,687,122 765 2,369 1,992 11,534 124,273 255,107 119 955 1,678 11,415 123,318 253,429 27,420 174,272 267,464 843 3,050 4,007 717 2,667 3,682 126 383 325 26,577 171,222 263,457 2,363 12,226 19,676 24,214 158,996 243,781 $500,000 to $1,000,000____ $1,000,000 to $ 2,000,000... $2,000,000 to $5,000,000. . . 1,257 709 340 348,512 409,611 453,282 2,842 4,482 5,366 345,670 405,129 447,916 312,612 344,831 326,224 5,209 8,629 7,927 4,939 8,328 7,668 270 301 259 307,403 336,202 318,297 30,716 40,797 51,403 276,687 295,405 266,894 $5,000,000 to $10,000,000. . $10,000,000 to $50,000,000. Over $50,000,000.................. 75 44 4 216,938 411,514 192,473 2,644 1,443 214,294 410,071 192,473 179,406 300,791 73,548 7,181 15,530 4,403 6,493 14,885 4,251 688 645 152 172,225 285,261 69,145 36,022 58,384 11,080 136,203 226,877 58,065 State Alabama. A rizona. . . Arkansas. . California. C o lo ra d o.. 120 5 154 95 55 8,687 4,863 11,070 210,810 6,531 8,643 4,863 10,996 210,659 6,473 19,273 8,071 24,952 68,694 10,633 114 49 180 1,217 126 96 49 169 1,183 92 18 11 34 34 19,159 8,022 24,772 67,477 10,507 1,128 608 950 13,262 352 18,031 7,414 23,822 54,215 10,155 C onnecticut................... Delaware........................ District of Columbia3. Florida ............................ Georgia........................... 37 24 10 93 182 36,453 22,672 36,392 22,620 37,866 10,264 638 213 577 211 61 2 37,228 10,051 5,795 945 31,433 9,106 22,464 15,226 112 42 22,352 15,184 23,658 34,101 158 525 147 525 11 23,500 33,576 1,276 3,847 22,224 29,729 I d a h o ... Illinois. . Indiana. I o w a . .. Kansas. 20 480 353 438 254 3,394 140,361 111,731 78,503 28,350 1 107 1,179 45 115 3,393 140,254 110,552 78,458 28,235 3,422 122,591 115,618 82,977 38,408 15 1,610 3,180 303 491 15 1,592 3,093 249 288 3,407 120,981 112,438 82,674 37,917 92 9,205 13,409 1,682 1,405 3,315 111,776 99,029 80,992 36,512 18 87 54 203 CORPORATION 2,423,244 INSURANCE 7,555 Banks with deposits as of date of examination of— $100,000 and under......... $100,000 to $250,000____ $250,000 to $500,000____ DEPOSIT United States and posses sions— to ta l....................... FEDERAL Num ber of banks1 46,676 22,410 11,094 46,768 44,242 42,217 39,049 8,945 24,114 26,010 1,223 358 443 710 979 1,007 354 431 696 869 216 4 12 14 110 40,994 38,691 8,502 23,404 25,031 2,648 2,735 1,225 3,069 5,030 38,346 35,956 7,277 20,335 20,001 M ichigan................................... M innesota................................. Mississippi................................ Missouri.................................... M on ta n a ................................... 254 432 168 487 53 95,262 68,983 38,067 65,439 7,733 1,033 107 64 69 17 94,229 68,876 38,003 65,370 7,716 59,179 44,369 49,492 79,549 8,310 1,562 405 227 1,247 52 1,438 243 209 1,151 39 124 162 18 96 13 57,617 43,964 49,265 78,302 8,258 7,460 3,404 1,885 3,478 422 50,157 40,560 47,380 74,824 7,836 N ebraska.................................. N evada3 .................................... New Hampshire3 .................... New Jersey............................... New Meccico............................. 228 3 3 97 14 15,836 45 15,791 26,057 164 112 52 25,893 414 25,479 145,744 2,390 2,437 143,307 2,390 117,005 3,813 9,704 26 9,555 26 149 107,301 3,787 23,392 84 83,909 3,703 New Y o r k ................................. North Carolina....................... N orth D a k ota .......................... O h io........................................... Oklahom a................................. 183 180 120 365 168 271,060 61,195 5,883 126,830 13,712 2,963 46 73 542 77 268,097 61,149 5,810 126,288 13,635 178,624 59,191 7,715 87,649 22,027 9,459 439 362 2,081 113 9,443 406 278 2,010 41 16 33 84 71 72 169,165 58,752 7,353 55,568 21,914 26,483 2,532 1,009 15,734 183 142,682 56,220 6,344 69,834 21,731 O regon....................................... Pennsylvania............................ Rhode Island3 ......................... South C arolina........................ South D a k o ta .......................... 43 295 2 87 119 11,092 286,211 35 3,157 11,057 283,054 11,309 187,106 63 9,810 54 9,225 9 585 11,246 177,296 1,185 69,742 10,061 107,554 14,340 7,110 37 33 14,303 7,077 21,504 9,540 249 229 208 190 41 39 21,255 9,311 1,172 757 20,083 8,554 Tennessee.................................. Texas......................................... U ta h ........................................... Verm ont.................................... V irginia..................................... 227 292 27 33 164 25,140 32,877 9,311 23,445 28,953 108 128 55 2,114 385 25,032 32,749 9,256 21,331 28,568 39,518 52,161 8,076 13,116 40,098 1,307 777 123 1,865 949 1,122 729 122 1,781 890 185 48 1 84 59 38,211 51,384 7,953 11,251 39,149 4,595 3,107 439 4,249 6,325 33,616 48,277 7,514 7,002 32,824 W ashington.............................. W est V irginia.......................... W isconsin.................................. W yom in g.................................. 87 75 455 23 12,204 18,906 135,879 2,481 19 502 783 18 12,185 18,404 135,096 2,463 11,901 24,254 73,235 5,255 80 1,241 1,321 50 70 1,234 1,235 48 10 7 86 2 11,821 23,013 71,914 5,205 451 2,783 10,149 132 11,370 20,230 61,765 5,073 Possessions3.............................. 2 BANKS 216 39 592 357 1,266 INSURED 46,892 22,449 11,686 47,125 45,508 OF 275 109 16 109 40 EXAMINERS’ ANALYSIS K en tu cky.................................. Louisiana.................................. M aine........................................ M aryland.................................. M assachusetts......................... xThe number of banks examined during the year does not agree with the number of banks at the close of the year. 3“ Assets not shown on b ook s" are not allocated to types of assets. 8Figures are included in deposit groups and in total. Cr< cn Ta b le 124. EX A M IN ERS' A NA LYSIS OF A SSETS, RA TIO S, OF OPERATING IN SU R ED COMMERCIAL BA NKS NOT M EM B ER 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 in a t io n i n 1936 C* BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES Total assets B ook value Loans, discounts, and overdrafts Appraised value Book value Estimated loss and doubtful Appraised value Assets not shown on books2 2.7 1.3 98.6 100.0 4.4 3.6 .8 95.6 21.0 74.6 Total Loss Doubtful Total Slow N ot criticized (Ratios to book value, in percent) B an k s w ith d e p o sits as o f d a te o f e x a m in a tio n o f — $100,000 and under............... $100,000 to $250,000............. $250,000 to $500,000............. 765 2,369 1,992 100.0 100.0 100.0 4.3 2.2 1.8 .5 .9 1.1 96.2 98.7 99.3 100.0 100.0 100.0 6.4 3.5 3.1 4.2 2.3 2.2 2.2 1.2 .9 93.6 96.5 96.9 22.3 19.8 18.7 71.3 76.7 78.2 $500,000 to $1,000,000......... $1,000,000 to $ 2,000,000... . $2,000,000 to $5,000,000___ 1,257 709 340 100.0 100.0 100.0 2.0 2.6 3.0 1.2 1.2 1.3 99.2 98.6 98.3 100.0 100.0 100.0 3.4 4.3 5.2 2.5 3.5 4.3 .9 .8 .9 96.6 95.7 94.8 20.4 21.3 22.8 76.2 74.4 72.0 $5,000,000 to $10,000,000. . . $10,000,000 to $50,000,000. . Over $50,000,0003 ................. 75 44 4 100.0 100.0 100.0 3.4 3.6 2.5 1.4 1.4 2.1 98.0 97.8 99.6 100.0 100.0 100.0 4.9 6.3 3.8 4.3 5.4 3.6 .6 .9 .2 95.1 93.7 96.2 20.4 23.5 19.0 74.7 70.2 77.2 S ta te A labam a.................................... A rizona...................................... Arkansas................................... California.................................. C olorado.................................... 120 5 154 95 55 100.0 100.0 100.0 100.0 100.0 .8 .5 2.4 1.1 2.8 .7 1.7 .6 2.1 1.5 99.9 101.2 98.2 101.0 98.7 100.0 100.0 100.0 100.0 100.0 1.2 .9 6.3 2.1 6.0 .9 .8 4.2 1.8 3.6 .3 .1 2.1 .3 2.4 98.8 99.1 93.7 97.9 94.0 17.2 17.1 22.3 18.8 17.9 81.6 82.0 71.4 79.1 76.1 C onnecticut.............................. Delaware.................................. District of Columbia4 ........ F lorid a...................................... Georgia...................................... 37 24 10 93 182 100.0 100.0 2.7 1.6 1.1 1.7 98.4 100.1 100.0 100.0 5.3 2.9 4.7 1.2 .6 1.7 94.7 97.1 35.1 21.1 59.6 76.0 100.0 100.0 .9 1.4 1.2 1.1 100.3 99.7 100.0 100.0 1.8 1.7 1.0 1.1 .8 .6 98.2 98.3 14.7 22.4 83.5 75.9 Id a h o ......................................... Illinois....................................... Indiana...................................... Io w a ........................................... Kansas...................................... 20 480 353 438 254 100.0 100.0 100.0 100.0 100.0 1.0 1.3 2.8 .4 1.4 1.1 1.6 .9 .8 1.0 100.1 100.3 98.1 100.4 99.6 100.0 100.0 100.0 100.0 100.0 2.8 2.9 4.6 .7 2.2 1.7 2.4 3.9 .4 1.0 1.1 .5 .7 .3 1.2 97.2 97.1 95.4 99.3 97.8 10.6 23.7 23.8 15.9 9.7 86.6 73.4 71.6 83.4 88.1 CORPORATION 7,555 100.0 INSURANCE U n ite d S ta te s a n d p o sses s io n s— t o t a l ............................ DEPOSIT Estimated loss and doubtful FEDERAL N umber of banks1 1.2 1.0 .6 2.3 .9 98.9 100.1 92.4 99.6 97.7 100.0 100.0 100.0 100.0 100.0 3.1 1.5 11.7 4.5 3.3 2.3 1.1 9.8 3.2 2.2 .8 .4 1.9 1.3 1.1 96.9 98.5 88.3 95.5 96.7 21.9 24.9 32.7 24.6 16.9 75.0 73.6 55.6 70.9 79.8 M ichigan................................... M innesota................................ Mississippi................................ Missouri.................................... M ontana................................... 254 432 168 487 53 100.0 100.0 100.0 100.0 100.0 1.8 1.0 .8 2.1 1.1 .6 1.6 .9 .9 1.0 98.8 100.6 100.1 98.8 99.9 100.0 100.0 100.0 100.0 100.0 2.1 1.9 1.8 4.1 3.0 1.4 .8 1.6 2.7 1.3 .7 1.1 .2 1.4 1.7 97.9 98.1 98.2 95.9 97.0 10.5 12.0 23.3 18.7 13.5 87.4 86.1 74.9 77.2 83.5 Nebraska.................................. N evada4 .................................... N ew Hampshire4 ................... New Jersey.............................. New M ex ico............................. 228 3 3 97 14 100.0 .7 .9 100.2 100.0 1.1 .6 .5 98.9 11.7 87.2 100.0 100.0 7.2 1.2 1.1 .8 93.9 99.6 100.0 100.0 12.4 2.8 11.5 1.6 .9 1.2 87.6 97.2 23.7 16.2 63.9 81.0 New Y o r k ................................. North Carolina....................... North D a k ota ......................... O h io........................................... Oklahoma................................. 183 180 120 365 168 100.0 100.0 100.0 100.0 100.0 4.4 1.0 7.5 2.2 .9 1.6 1.9 .8 1.2 .8 97.2 100.9 93.3 99.0 99.9 100.0 100.0 100.0 100.0 100.0 7.0 2.3 14.4 3.6 1.7 6.0 1.6 9.3 3.2 .8 1.0 .7 5.1 .4 .9 93.0 97.7 85.6 96.4 98.3 18.6 14.5 27.2 24.1 9.6 74.4 83.2 58.4 72.3 88.7 O regon....................................... Pennsylvania........................... Rhode Island4 ......................... South Carolina........................ South D a k ota .......................... 43 295 2 87 119 100.0 100.0 .8 3.3 1.4 1.8 100.6 98.5 100.0 100.0 1.6 4.3 .8 3.9 .8 .4 98.4 95.7 22.8 24.2 75.6 71.5 100.0 100.0 1.2 4.3 .9 .6 99.7 96.3 100.0 100.0 2.3 8.5 1.8 6.3 .5 2.2 97.7 91.5 7.2 17.5 90.5 74.0 Tennessee.................................. U ta h ........................................... V erm ont.................................... V irginia..................................... 227 292 27 33 164 100.0 100.0 100.0 100.0 100.0 2.8 2.1 1.2 11.5 3.0 .7 .5 1.6 .6 .6 97.9 98.4 100.4 89.1 97.6 100.0 100.0 100.0 100.0 100.0 3.4 3.9 1.4 12.2 4.0 2.2 2.7 1.2 10.5 2.8 1.2 1.2 .2 1.7 1.2 96.6 96.1 98.6 87.8 96.0 25.8 20.8 9.5 48.2 21.9 70.8 75.3 89.1 39.6 74.1 W ashington.............................. W est Virginia.......................... W isconsin.................................. W yom in g.................................. 87 75 455 23 100.0 100.0 100.0 100.0 .7 6.0 2.0 2.2 1.7 .4 1.3 .6 101.0 94.4 99.3 98.4 100.0 100.0 100.0 100.0 1.2 8.8 4.2 4.2 .3 6.9 2.9 1.9 .9 1.9 1.3 2.3 98.8 91.2 95.8 95.8 12.6 26.0 25.5 34.2 86.2 65.2 70.3 61.6 BANKS 2.3 .9 8.2 2.7 3.2 INSURED 100.0 100.0 100.0 100.0 100.0 OF 275 109 16 109 40 EXAMINERS’ ANALYSIS K en tu cky.................................. Louisiana.................................. M aine........................................ M aryland.................................. Massachusetts......................... 2 *The number of banks examined during the year does not agree with the number of banks at the close of the year. 2“ Assets not shown on books” are not allocated to types of assets. 3Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. 4Figures are included in deposit groups and in total. 157 T a b le 124. EX A M IN ERS’ A N A LYSIS OF A SSETS, RA TIO S, OF OPERATING IN SU RED COMMERCIAL BA N KS N O T M E M BERS OF 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 in a t io n i n 1936— Continued BAN KS GROUPED BY AMOUNT OF DEPOSITS AND B Y STATES Other assets Securities B ook value Estimated loss and doubtful Appraised value Book value Appraised value Estimated loss and doubtful Total Loss Doubtful Total N ot criticized Slow (Ratios to book value, in percent) .8 99.2 100.0 2.8 2.7 .1 97.2 13.1 84.1 765 2,369 1,992 100.0 100.0 100.0 1.0 .8 .7 99.0 99.2 99.3 100.0 100.0 100.0 3.1 1.7 1.5 2.6 1.5 1.4 .5 .2 .1 96.9 98.3 98.5 8.6 7.0 7.4 88.3 91.3 91.1 $500,000 to $1,000,000 $1,000,000 to $ 2 ,0 0 0 ,0 0 0 .... $2,000,000 to $5,000,000___ 1,257 709 340 100.0 100.0 100.0 .8 1.1 1.2 99.2 98.9 98.8 100.0 100.0 100.0 1.7 2.5 2.4 1.6 2.4 2.3 .1 .1 .1 98.3 97.5 97.6 9.8 11.8 15.8 88.5 85.7 81.8 $5,000,000 to $10,000,000. .. $10,000,000 to $50,000,000. . Over $50 000 000s 75 44 4 100.0 100.0 100.0 1.2 .4 98.8 99.6 100.0 100.0 100.0 100.0 4.0 5.2 6.0 3.6 5.0 5.8 .4 .2 .2 96.0 94.8 94.0 20.1 19.4 15.1 75.9 75.4 78.9 100.0 100.0 100.0 100.0 100.0 .5 .7 .1 .9 99.5 100.0 99.3 99.9 99.1 100.0 100.0 100.0 100.0 100.0 .6 .6 .7 1.8 1.2 .5 .6 .7 1.7 .9 .1 California.................................. Colorado.................................... 120 5 154 95 55 99.4 99.4 99.3 98.2 98.8 5.8 7.5 3.8 19.3 3.3 93.6 91.9 95.5 78.9 95.5 Connecticut.............................. Delaware.................................. District of Columbia4........... F lorida....................................... rj-onronu 37 24 10 93 182 100.0 100.0 .2 .2 99.8 99.8 100.0 100.0 1.7 2.1 1.5 2.1 .2 98.3 97.9 15.3 9.2 83.0 88.7 100.0 100.0 .5 .3 99.5 99.7 100.0 100.0 .7 1.5 .6 1.5 .1 99.3 98.5 11.3 87.2 .1 1.1 .1 .4 100.0 99.9 98.9 99.9 99.6 100.0 100.0 100.0 100.0 100.0 .4 1.3 2.8 .4 1.3 .4 1.3 2.7 .3 .8 99.6 98.7 97.2 99.6 98.7 2.7 7.5 11.6 2.0 3.6 96.9 91.2 85.6 97.6 95.1 S ta te Alabam a.................................... A ri7nn o A 1*lr£)Y1QS1Q Illinois Indiana...................................... I o w a ........................................... Kansas....................................... 20 480 353 438 254 100.0 100.0 100.0 100.0 100.0 .1 .3 .1 .1 .5 CORPORATION 100.0 INSURANCE 7,555 B an ks w ith d e p o sits as o f d a te o f e x a m in a tio n o f — $100,000 and under............... $100,000 to $250,000............. $250,000 to $500,000............. DEPOSIT U n ite d S ta tes a n d p osses s ion s— t o t a l ............................ FEDERAL N um ber of banks1 254 432 168 487 53 N ebraska............. N evada4............... New Hampshire4 New Jersey......... New M exico. . . . 228 3 3 97 14 100.0 100.0 100.0 1.7 New Y o r k ........... North Carolina.. N orth Dakota. .. O h io. . . ............... Oklahom a............ 183 180 100.0 1.1 .1 1.2 365 168 O regon................. Pennsylvania Rhode Island4 .. . South C arolina. . South D a k ota . .. 43 295 2 87 119 100.0 100.0 Tennessee............ T exa s.................... U ta h ..................... Verm ont............... Virginia................ W ashington......... W est V irginia. . . W isconsin............ W yom in g............. 100.0 2.9 .9 5.0 2.9 3.8 2.4 .9 4.9 2.9 3.4 97.1 99.1 95.0 97.1 96.2 6.3 7.0 13.7 12.7 19.3 90.8 92.1 81.3 84.4 76.9 98.9 99.8 99.8 99.9 99.8 100.0 100.0 100.0 100.0 100.0 2.6 .9 .5 2.4 .5 .5 1.5 .5 97.4 99.1 99.5 98.4 99.4 12.6 7.7 3.8 4.4 5.1 84.8 91.4 95.7 94.0 94.3 99.7 100.0 99.4 1.6 97.8 100.0 100.0 8.3 .7 8.2 100.0 .7 91.7 99.3 20.0 2.2 71.7 97.1 .6 98.9 99.9 98.8 99.6 99.4 100.0 100.0 100.0 100.0 100.0 5.3 .7 4.7 2.4 .5 5.3 .7 3.6 2.3 .2 94.7 99.3 95.3 97.6 99.5 14.8 4.3 13.1 17.9 79.9 95.0 82.2 79.7 98.7 1.1 98.9 100.0 100.0 .6 5.2 .5 4.9 99.4 94.8 10.5 37.3 88.9 57.5 100.0 100.0 .3 .5 99.7 99.5 100.0 100.0 2.4 2.0 97.6 ' ' 5.4* 7.9 ’ 93.4' 89.7 227 292 27 33 164 100.0 100.0 100.0 100.0 100.0 .4 .4 .6 9.0 1.3 100.0 100.0 100.0 100.0 100.0 3.3 1.5 1.5 14.2 2.4 2.8 99.6 99.4 91.0 98.7 1.4 1.5 13.6 2.2 96.7 98.5 98.5 85.8 97.6 11.6 5.9 5.4 32.4 15.8 85.1 92.6 93.1 53.4 81.8 87 75 455 23 100.0 100.0 100.0 100.0 .2 2.7 .6 .7 97.3 99.4 99.3 100.0 100.0 100.0 100.0 .7 5.1 1.8 .6 5.1 1.7 99.3 94.9 98.2 99.0 3.8 11.5 13.9 2.5 95.5 83.4 84.3 96.5 120 .5 .2 5.1 .8 100.0 2.8 100.0 1.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 .2 .2 .1 .2 .4 100.0 100.0 100.0 100.0 1.6 1.2 “ 1 .6 ' 1.0 BANKS M ichigan............. M innesota........... Mississippi........... Missouri............... M ontana.............. 99.5 99.8 94.9 99.2 97.2 100.0 100.0 INSURED 100.0 OF 275 109 16 109 40 EXAMINERS’ ANALYSIS K en tu cky............. Louisiana............. M aine................... M aryland............ M assachusetts... Possessions4........ !The number of banks examined during the year does not agree with the number of banks at the close of the year. 3“ Assets not shown on books” are not allocated to types of assets. 3Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. 4Figures are included in deposit groups and in total. en SUMMARY OP EXAMINERS’ ANALYSIS OF ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT M e m b e r s of t h e F e d e r a l R e s e r v e S y st e m , E x a m in atio n s O c to b e r 1,1933, to D e c e m b e r 31,1936 Table 125. BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES Ratio of estimated loss and doubtful to book value of— Loans T otal assets 1934 1936 1935 1934 1935 1936 1934 1935 Ratio of slow loans to book value of loans Other assets 1936 1934 1935 1936 1934 1935 1936 (Ratios in percent) 4.7 2.7 8.0 6.5 4.4 7.5 4.0 .8 3.6 3.1 2.8 32.6 B an ks w ith d e p o sits o f — $100,000 and un d er............... $100,000 to $250,000............. $250,000 to $500,000............. 9.3 8.5 8.7 6.2 4.7 5.2 5.1 3.2 3.0 4.3 2.2 1.8 8.4 6.1 6.5 7.1 4.6 4.3 6.4 3.5 3.1 6.1 5.4 6.2 3.0 2.4 2.6 1.0 .8 .7 3.2 2.4 2.6 3.4 1.8 1.8 3.1 1.7 1.6 34.8 35.1 34.4 25.9 23.9 23.7 22.3 19.8 18.7 $500,000 to $1,000,000____ $1,000,000 to $ 2,000,000... $2,000,000 to $5,000,000. . . 10.9 11.5 11.2 5.9 6.5 7.6 3.4 4.6 5.4 2.0 2.6 3.0 6.4 7.6 8.9 4.5 6.1 7.8 3.4 4.3 5.2 7.9 8.2 8.7 3.5 4.4 4.9 .8 1.1 1.2 2.9 2.9 3.6 2.0 2.8 2.8 1.7 2.5 2.4 35.9 33.9 31.2 26.0 26.1 26.9 20.4 21.3 22.8 $5,000,000 to $10,000,000. . $10,000,000 to $50,000,000. Over $50,000,0003 ............... 11.2 9.5 7.9 8.1 6.2 5.3 7.5 7.1 4.8 2.7 5.1 9.3 4.8 5.7 4.0 5.2 6.0 ‘ 31.2 25.8 26.3 20.6 20.4 23.5 19.0 S ta te A labam a. A rizona. . . A rk a n sas.. California. C o lo ra d o.. 10.5 ( 4) 8.9 6.1 13.8 4.1 (4) 4.2 3.1 5.0 2.4 .6 3.2 1.6 3.6 8.3 7.3 5.0 7.2 6.2 7.8 7.2 10.2 12.1 4.6 6.8 C onnecticut................... Delaware........................ District of Columbia4. F lorida............................ G eorgia........................... I d a h o .. Illinois. . Indiana. Io w a . . . K ansas. 1 ) 3.4 3.6 2.5 9.9 8.5 8.7 7.8 4.9 6.3 3.8 .8 .5 2.4 1.1 2.8 5.1 (4) 5.7 2.7 10.1 2.5 1.3 5.8 2.8 7.8 1.2 .9 6.3 2.1 6.0 6.2 (4) 5.0 3.6 2.9 4.2 .5 2.4 .4 2.3 .7 .1 .9 1.3 (4) 2.2 2.9 1.1 1.2 .6 .9 1.8 .8 .6 .6 .7 1.8 1.2 30.9 (4) 52.6 25.3 28.4 18.5 28.5 28.5 19.6 23.4 17.2 17.1 22.3 18.8 17.9 3.9 2.9 2.7 1.6 7.1 6.0 6.5 3.8 5.3 2.9 4.5 8.6 1.6 3.2 .2 .2 1.4 6.5 1.5 .9 1.7 2.1 25.1 29.5 35.0 23.5 35.1 21.1 2.6 3.5 1.4 2.3 .9 1.4 3.8 4.5 2.4 2.7 1.8 1.7 2.2 5.3 1.2 3.2 .5 .3 2.4 1.3 .9 1.3 .7 1.5 30.6 35.8 19.0 25.6 14.7 22.4 2.7 3.1 6.1 2.4 3.9 1.5 1.6 3.9 1.0 2.3 1.0 1.3 2.8 .4 1.4 5.6 5.8 7.7 3.7 7.1 3.7 3.5 5.4 1.6 4.1 2.8 2.9 4.6 .7 2.2 1.8 1.5 6.2 2.2 2.5 .3 .4 2.8 .7 1.2 .1 1.1 .1 .4 1.6 1.7 4.0 1.2 1.6 1.2 1.2 3.4 .7 1.4 .4 1.3 2.8 .4 1.3 26.4 37.4 36.1 31.2 21.8 13.7 30.3 28.8 21.9 12.1 10.6 23.7 23.8 15.9 9.7 J- I 1 21.0 } } CORPORATION 6.7 INSURANCE 10.5 DEPOSIT S ta tes— t o t a l . U n ite d FEDERAL x1933 Securities 3.7 4.8 12.6 6.2 5.9 4.1 2.7 12.3 6.4 5.1 3.1 1.5 11.7 4.5 3.3 6.3 6.6 17.6 8.1 12.1 2.7 2.5 14.4 4.0 8.0 .5 .2 5.1 .8 2.8 2.2 4.1 1.9 3.3 3.4 3.0 2.3 5.2 3.4 3.3 2.9 .9 5.0 2.9 3.8 33.4 40.7 36.8 42.0 26.3 27.4 35.4 40.5 32.7 27.4 21.9 24.9 32.7 24.6 16.9 M ichigan................................... M innesota................................ Mississippi................................ M issouri.................................... M ontana................................... 14.4 4.6 7.2 8.8 10.3 7.4 2.8 3.0 3.4 4.2 4.7 1.7 1.5 2.9 2.4 1.8 1.0 .8 2.1 1.1 8.0 4.1 4.4 5.3 6.4 6.3 3.2 2.9 5.0 5.7 2.1 1.9 1.8 4.1 3.0 8.3 2.2 2.4 2.5 4.7 3.8 .8 .8 .8 1.0 1.1 .2 .2 .1 .2 5.9 1.6 1.9 1.7 1.7 4.3 1.2 .8 2.0 1.0 2.6 .9 .5 1.6 .6 29.8 24.2 40.6 28.8 31.3 19.0 13.9 32.9 22.4 17.3 10.5 12.0 23.3 18.7 13.5 N ebraska.................................. N evada4 .................................... 9.3 2.9 1.3 .7 6.1 1.9 1.1 2.1 1.4 .3 .8 .6 .6 23.8 15.6 11.7 New Jersey............................... N ew M e x ico............................ 18.7 12.9 15.7 2.9 12.7 1.8 7.2 1.2 19.5 6.3 17.7 4.0 12.4 2.8 15.6 .6 10.7 .1 1.7 8.5 1.4 8.1 1.4 8.3 .7 35.7 44.8 24.8 24.7 23.7 16.2 N ew Y o r k ................................. North C arolina....................... North D a k ota .......................... O h io ........................................... Oklahom 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 4.4 1.0 7.5 2.2 .9 10.9 4.3 23.5 7.3 4.5 9.4 2.4 19.3 6.0 2.3 7.0 2.3 14.4 3.6 1.7 10.2 .9 9.2 3.0 1.4 6.3 .2 4.0 1.8 1.0 1.1 .1 1.2 .4 .6 4.7 1.7 10.1 4.0 1.3 5.2 1.1 7.9 3.2 .9 5.3 .7 4.7 2.4 .5 20.8 33.1 39.9 46.6 22.5 18.3 16.9 27.0 31.7 12.4 18.6 14.5 27.2 24.1 9.6 O regon....................................... Pennsylvania........................... Rhode Island4 ......................... South C arolina........................ South D a k o ta .......................... 7.7 11.9 2.7 9.1 2.1 7.2 .8 3.3 6.3 8.2 6.1 7.6 1.6 4.3 .5 12.2 8.5 .3 1.1 .5 6.1 .5 4.7 .6 5.2 47.8 33.6 33.8 27.5 22.8 24.2 6.8 10.7 1.6 9.0 1.6 5.3 1.2 4.3 1.0 16.3 1.5 10.1 2.3 8.5 3.2 5.0 2.5 1.5 .3 .5 1.2 3.6 1.2 2.8 1.2 2.4 14.0 32.0 6.0 20.6 7.2 17.5 Tennessee.................................. T exas......................................... U ta h ........................................... V erm ont.................................... V irginia..................................... 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 2.8 2.1 1.2 11.5 3.0 6.1 8.8 7.4 12.6 6.1 5.7 7.0 2.2 14.8 5.0 3.4 3.9 1.4 12.2 4.0 8.4 2.8 4.0 23.7 6.9 4.3 2.3 .8 17.5 3.2 .4 .4 .6 9.0 1.3 5.0 1.6 3.7 11.0 3.3 3.9 1.8 2.6 14.5 2.0 3.3 1.5 1.5 14.2 2.4 43.9 41.6 27.3 41.9 36.7 36.2 29.0 23.2 47.5 25.2 25.8 20.8 9.5 48.2 21.9 W ashington.............................. W est V irginia.......................... W isconsin.................................. W yom 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 .7 6.0 2.0 2.2 4.0 11.6 8.3 9.7 2.1 10.2 6.4 5.6 1.2 8.8 4.2 4.2 4.5 8.9 10.4 2.8 1.5 5.1 3.9 1.9 .2 2.7 .6 .7 1.7 5.9 2.8 2.0 1.3 5.7 1.8 1.9 .7 5.1 1.8 1.0 34.8 39.9 43.6 31.3 22.9 33.2 32.6 39.3 12.6 26.0 25.5 34.2 E xam in ation for admission to insurance in 1933 and 1934. 2For 1933 and 1936, deposits as of date of examination. For 1934 and 1935, deposits as of December 31. 4Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. ^Figures are included in deposit groups and in total. BANKS 2.3 .9 8.2 2.7 3.2 INSURED 3.4 2.5 11.5 4.9 5.7 OF 4.0 5.0 11.7 6.4 7.2 ANALYSIS 8.9 10.8 15.0 8.7 9.8 EXAMINERS' K en tu cky.................................. Louisiana.................................. M aine........................................ M aryland.................................. Massachusetts......................... FEDERAL DEPOSIT INSURANCE CORPORATION 162 CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE CORPORATION Table 126. C A PITA L INVESTMENT OF THE RECONSTRUCTION FIN AN CE CORPORATION i n O p e r a t i n g I n s u r e d C o m m e r c i a l B a n k s , D e c e m b e r 31,193 6 BY CLASS OF BANK IN EACH STATE AND POSSESSION (Amounts in thousands o f dollars) Banks members F. R . System1 All banks National N o. of banks Amount N o. of banks Amount State N o. of banks Amount Banks not mem bers F . R . System N o. of banks Amount U n ited S ta tes a n d p o ss es sion — to ta l 5,298 643,441 1,785 314,646 330 136,327 3,183 192,468 S ta te A labam a....................... A rizona......................... Arkansas...................... California..................... C olorado....................... 56 3 104 95 54 11,454 1,365 3,987 36,080 4,099 18 2 19 52 30 7,183 1,340 1,367 18,334 3,324 4 3.250 655 ► ,535 200 34 1 80 39 23 1,021 25 1,965 11,211 575 C onnecticut................. D elaw are...................... District of Columbia. F lorid a .......................... G eorgia......................... 37 10 7 40 73 6,494 346 2,545 1.969 3,654 15 4 2 13 15 3,590 137 1,100 1,165 1,160 258 875 22 6 5 25 52 2,904 209 1,445 546 1,619 Id a h o ............................ Illin ois.......................... Indiana......................... I o w a .............................. Kansas.......................... 24 188 250 122 187 1,620 56,847 12,986 8,218 4,758 9 114 43 40 45 685 51,473 4,366 4,862 2,075 705 2,263 1,170 1,060 150 11 61 203 78 137 230 3,111 7,450 2,296 2,533 K en tu cky..................... Louisiana..................... M aine............................ M aryland..................... Massachusetts............ 106 88 24 63 52 7,330 8,899 5,828 8,216 13,063 27 14 12 12 30 2,899 3,648 2,008 2,469 7,640 3 2 4 6 1,325 1,775 900 2,250 2,848 76 71 10 47 16 3,106 3,476 2,920 3.497 2,575 M ichigan...................... M innesota.................... Mississippi................... M issouri....................... M on tana...................... 164 199 137 189 45 34,084 11,624 8,217 9.586 2,539 47 70 15 25 15 16,186 9,010 2,530 3,463 931 32 2 10,497 32 85 127 122 145 24 7,401 2,582 5,687 3,289 585 N ebraska..................... N evad a......................... New Ham pshire......... New Jersey.................. New M ex ico............ 132 3 7 197 17 5.970 105 447 67,504 673 46 2 6 129 6 4,373 75 347 27,802 395 1 1 43 1,513 30 100 23,022 247 New Y o r k .................... N orth C arolina.......... North D a k ota ............. O h io.............................. Oklahom a.................... 383 118 109 331 42 82,821 6.586 2,791 62,437 6,285 211 17 24 77 27,727 1,401 1,567 21,860 6,225 120 98 85 227 5 21,599 3.497 1,224 14,032 50 Oregon. . . . ................. Pennsylvania............... Rhode Island.............. South Carolina........... South D a k o ta ............. 46 269 4 33 99 1,499 40,314 750 2,076 3,167 15 186 3 5 22 523 16,269 500 1,364 2,129 28 68 1 28 73 931 14,954 250 712 883 Tennessee..................... T exas............................ U ta h .............................. V erm ont....................... V irginia........................ 112 344 34 42 123 11,877 25,145 2,608 7,583 8,200 24 133 7 9 31 7,650 18,972 1,018 473 2,135 1,980 86 192 16 33 90 4,002 5,733 470 7,110 4,085 W ashington................. W est V irginia............. W isconsin..................... W yom in g..................... 86 80 349 20 4,266 4,957 28,220 1,228 21 30 49 2,395 2,296 13,593 612 803 495 2,768 67 52 46 288 9 1,068 2,166 11,859 549 P ossession Virgin Islands............. 124 2,834 1,023 84 25 2 16,680 31 33,495 1,688 27 1 26,545 10 15 45 9,091 155 225 440 1,120 124 *Data concerning national and State banks members of the Federal Reserve System were obtained from the Re-port of the Reconstruction Finance Corporation for the Fourth Quarter of 1936. C a p it a l I n v e s t m e n t R e c o n s t r u c t io n F i n a n c e C o r p o r a t io n 163 T able 127. RECONSTRUCTION FINANCE CORPORATION CAPITAL DISBURSEMENTS AND R e t ir e m e n t s D u r in g 1936, O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s N 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 in each state R .F .C . capital outstanding Dec. 31,193s1 U n ited S ta tes a n d p o s session — t o t a l .....................$211,545,881 S ta te A labam a. Arizona. . . A rkansas.. California. Colorado. . and p o sse ssio n Disburse ments Retirements Other deductions2 R .F .C . capital outstanding Dec. 31, 1936 $5,202,900 $14,790,552 9,489,748 $192,468,481 1,020,965 24,967 I,965,240 1,078,477 24,996 2,090,474 12.772.000 575.000 120,234 1,560,800 5,000 C onnecticut................ Delaware..................... D istrict of Columbia. Florida......................... G eorgia........................ 3.410.500 223.000 1.500.000 588,414 1.675.000 406,332 14,000 55,300 1,183 51,500 100,000 I d a h o .. . Illinois. . Indiana. I o w a ... . K ansas.. 215.000 4.201.000 7.831.000 2,485,350 2.635.000 675,450 133.500 224,750 153,028 415,000 327,500 K en tu ck y......... Louisiana......... M a ine................ M aryland......... Massachusetts. 3.724.000 4.583.500 2,925,078 4.050.000 2.575.000 198,100 562.500 5,459 52,800 425.000 545.000 M ichigan. . . M inn esota.. M ississippi. Missouri. . . M on tana. .. 8,770,580 3.250.500 5.922.500 3.586.000 664.500 21,000 40,000 119,000 535,300 654,200 217,100 275,550 79,500 844,500 35.000 58.000 140,000 7,400,780 2,582,300 5,687,400 3,289,450 585.000 10,000 197,209 26,382 3,355,000 25,000 173,737 1,513,058 30.000 100.000 23,022,192 247.500 N ebraska............ N eva d a............... New Hampshire. New Jersey........ New M e x ic o .. .. 1,726,649 30.000 100.000 20,290,929 232.500 New Y o r k .......... North Carolina. N orth D akota. . O hio................... . Oklahom a......... 26.850.000 3,741,640 1.549.000 18.753.000 60.000 Oregon............... Pennyslvania. . Rhode Island. . South Carolina. South D a k o ta .. 953.500 14,958,644 250.000 687,300 979.500 Tennessee. Texas......... U ta h ......... Verm ont. . Virginia.. . W ashington... W est Virginia. W isconsin. . . . W yom ing. . . . 57,512 575.000 30,200 71,066 5,000 15,000 80,000 35,000 71,250 5,000 10,000 150,000 10,000 20,000 500,000 ' 450,666 3,141,600 6.562.500 500.000 7.210.000 4,392,250 924,950 30,000 1.156.000 2.136.000 13.338.000 590.000 15,000 155,000 81,500 5,000 R evised . 3Due to changes in charter jurisdiction, insured status, etc. *RFC capital of bank admitted to insurance in 1936. 2,904,168 209.000 1,444,700 546,365 1.618.500 230.000 3.110.550 7.450.000 2,295,600 2,533,222 3,105,900 3.476.000 2,919,619 3,497,200 2.575.000 4,650,500 232,390 70,000 921,000 600,000 12,500 255,000 3,800,000 10,000 21,599,500 3,496,750 1.224.000 14,032,000 50.000 7,500 154,577 15,000 61,000 36.000 931.000 14,954,067 250.000 712,300 882.500 25,666 P ossession Virgin Islands........ 11,211,200 65.000 250,800 18,000 4.001.550 5.733.500 470.000 7.110.000 4,084,938 1 , 000,000 21,500 560,000 25,000 1.067.500 2.166.000 II,859,500 548.500 1,000 3125,000 124,000 608,200 30,000 100,000 289,312 103,500 125,000 164 FEDERAL DEPOSIT INSURANCE CORPORATION E A R N IN G S O F IN S U R E D C O M M E R C IA L B A N K S T able 128. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF OPERATING I n s u r e d C o m m e r c ia l B a n k s , C a l e n d a r Y e a r s 1934, 1935 a n d 1936 Amounts in thousands of dollars 1934 1935 1934 1935 1936 $1.53 1.22 $1.33 1.14 $1.24 1.07 .17 .45 3.37 .19 .42 3.08 .20 .41 2.92 C u rren t o p e ra tin g ex p e n se s : 323,029 Interest on time and savings deposits. . . . 276,998 236,830 7,319 2,642 1,624 Interest and discount on borrow ings......... 401,222 Salaries, wages, and fees.............................. 410,084 436,624 76,834 79,047 495,113 Taxes................................................................. Other current operating expenses............... 258,829 272,104 312,593 T o ta l c u r r e n t o p e ra tin g e xp e n se s.. . 1,067,233 1,040,875 1,082,784 $0.72 .02 .89 .17 .57 2.37 $0.57 .01 .85 .16 .57 2.16 $0.44 N et c u rre n t o p e ra tin g e a r n in g s ................ 448,375 442,126 $1.00 $0.92 $0.90 P rofits o n assets sold o r e xch a n g e d , re coveries a n d re d u c tio n s in va lu a tio n a llo w a n ce s: Profits on securities sold or exchanged5 Recoveries and reductions in valuation allowances on loans.................................... Recoveries and reductions in valuation allowances on securities............................ All other recoveries, profits on assets sold, and reductions in valuation allowances. T o t a l p rofits o n assets sold , r e coveries, e t c ........................................... 52,770 81,675 110,403 $0.12 $0.17 .21 206,120 315,937 174,970 .46 .66 .33 32,755 34,445 31,404 .07 .07 .05 291,645 432,057 584,451 .65 .90 1.09 740,020 14,124 14,110 1936 Amounts per $100 of total assets1 313,956 C u rre n t o p e ra tin g e a r n in g s : Interest and discount on loans.................... 689,143 641,737 661,574 Interest and dividends on securities.......... 549,504 547,108 573,472 Commissions, fees, and collection, ex 75,553 change and service charges...................... 89,668 104,696 Other current operating earnings............... 201,408 204,488 223,948 G ross c u r r e n t o p e ra tin g e a r n in g s .. . 1,515,608 1,483,001 1,563,690 N et e a rn in g s, p rofits a n d recoveries o n assets, e t c ................................................... 480,906 267,674 .82 .18 .58 2.02 $0.50 874,183 1,065,357 $1.65 $1.82 $1.99 L osses, ch a r g e -o ffs, a n d a d d itio n s to v a lu a tio n a llo w a n c e s : 551,644 On loans.......................................................... 391,266 On securities.................................................... All other losses, charge-offs, and additions 136,329 to valuation allow ances........................... T o t a l losses, ch a r g e -o ffs, e t c .............. 1,079,239 318,271 239,053 249,756 154,574 $1.23 .87 $0.66 .50 $0.47 .29 109,940 667,264 135,206 539,536 .30 2.40 .23 1.39 .25 1.01 6523,379 $-0.75 $0.43 $0.98 .43 -339,219 206,919 C ash d ivid en d s d ecla red a n d in te re s t p a id o n c a p i t a l ......................................... 187,595 207,317 223,208 .42 N et p rofits a fte r d iv id e n d s .......................... -526,814 -398 300,171 $-1.17 N et p rofits b e fo re d iv id e n d s ....................... .42 $0.56 1 Averages of call date figures. 2 Excludes banks not members of the Federal Reserve System as follows: 25 for 1934, 16 for 1935 and 17 for 1936. 3 Includes in addition figures for 61 banks reporting for the first half of the year only. See notes 2 and 3, Table 129. 4 Exclusive of $2,442,000 “ Income Taxes” paid by banks not members of the Federal Reserve System. 5 Amounts reported separately only for 1936. Included with recoveries in previous years. 8 After payment of “ Income Taxes.” See note 4. N O T E : Minus ( - ) indicates deficit or deduction from profits. 165 EARNINGS OF INSURED COMMERCIAL BANKS Table 129. E a r n i n g s , E x p e n s e s , AND DISPOSITION OF PROFITS OF O PERATIN G I n s u r e d C o m m e r c i a l B a n k s , C a l e n d a r Y e a r 1936 BY CLASS OF All insured banks Number of banks..................................... 13,956 C u rren t o p e ra tin g e a r n in g s : 661,574 Interest and discount on loans.................. 573,472 Interest and dividends on securities........ Commissions, fees, and collection, ex change and service charges.................. 104,696 223,948 Other current operating earnings........... G ross cu r r e n t o p e ra tin g ea rn in g s. . 1,563,690 BANK Banks members F. R . System National State 25,325 31,051 Banks not members F . R . System1 Total 7,580 Operating through Operating out entire less than full year year 7,460 120 (In thousand s of dollar•s) 346,951 166,453 148,170 145,412 325,772 161,335 86,365 84,419 2,758 1,946 49,634 101,470 823,827 21,185 98,121 447,094 33,877 24,357 29^,769 33,251 23,706 286,788 626 651 5,981 C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits. . . 236,830 126,175 48,991 1,624 265 342 Interest and discount on borrowings........ Salaries, wages, and fees.......................... 436,624 225,839 132,153 ................... Taxes (other than 449,502 on in com4e) 495,113 31,650 Other current operating expenses............. 312,593 162,550 94,654 T o t a l c u r r e n t o p e ra tin g e x p e n se s .. 1,082,784 564,331 307,790 61,664 1,017 78,632 13,961 55,389 210,663 60,486 1,016 77,101 13,684 54,008 206,295 1,178 1 1,531 277 1,381 4,368 139,304 82,106 80,493 1,613 1,211 N et c u r r e n t o p e ra tin g e a r n in g s .............. P rofits o n assets s o ld o r exch a n g ed , recoveries a n d r e d u c tio n s in va l u a t io n a llo w a n ce s : Profits on securities sold or exchanged. . . Recoveries and reductions in valuation allowances on loans.............................. Recoveries and reductions in valuation allowances on securities.......................... All other recoveries, profits on assets sold, and reductions in valuation allowances T o ta l p rofits o n assets sold , r e coveries, e t c ..................................... 480,906 259,496 267,674 157,891 72,808 36,975 35,764 110,403 69,515 24,740 16,148 15,514 634 174,970 120,654 39,663 14,653 14,309 344 31,404 12,187 10,610 8,607 7,954 653 584,451 360,247 147,821 76,383 73,541 2,842 N et ea rn in g s, p rofits a n d recoveries on assets, e t c ............................................. 1,065,357 619,743 287,125 158,489 154,034 4,455 Losses, ch a r g e -o ffs, a n d a d d itio n s to v a lu a tio n a llo w a n ce s : On loans........................................................ On securities...................................... All other losses, charge-offs, and addi tions to valuation allowances................ T o t a l losses, ch a r g e -o ffs , e t c ........... 249,756 154,574 154,312 91,935 52,231 39,473 43,213 23,166 41,300 22,188 1,913 978 135,206 539,536 59,926 306,173 43,692 135,396 31,588 97,967 29,860 93,348 1,728 4,619 N et p ro fits b e fo r e in c o m e taxes an d d iv id e n d s ............................................... I n c o m e taxes, F ed era l a n d S t a t e ........... N et p rofits a fte r in c o m e t a x e s ................. (5) (5) 523,379 (5) (5) 313,570 (5) (5) 151,729 60,522 2,442 58,080 60,686 2,416 58,270 -1 64 26 -190 7,205 17,311 7,061 16,966 144 345 C ash d ivid en d s d ecla red a n d in terest p a id o n c a p ita l: Dividends declared and interest paid on preferred capital6...................................... Dividends declared on common capital6. T o ta l ca sh d ivid en d s d ecla red and in te re st p a id o n c a p it a l ................. 223,208 121,355 77,337 24,516 24,027 489 N et p rofits a fte r d iv id e n d s ........................ 300,171 192,215 74,392 33,564 34,243 -679 E xcludes 2 national banks in Alaska, 1 national bank in the Virgin Islands, 10 banks in the District of Columbia, and 4 other banks. in clu d es in addition figures for 52 banks reporting for the first half of the year only, in clu d es in addition figures for 9 banks reporting for the first half of the year only, in clu d es “ Income Taxes” for national and State banks members of the Federal Reserve System. 5N ot available. See note 4. 6Amounts reported separately only for banks not members of the Federal Reserve System. N O T E : Minus (— ) indicates deficit or deduction from profits. Ta b le 130. EARNINGS, E X P E N S E S , AND DISPOSITION OF P R O FITS OF OPERATING IN SU RED COMMERCIAL BA NKS of th e F e d e r a l R e s e r v e S y s t e m , C a le n d a r Y e a r s 19 34 ,1 93 5 an d 1936 N ot M e m b e r s Amounts per $100 of total assets1 Amounts in thousands of dollars 1934 1936 Operating Operating throughout less than entire year full year 1934 1935 Total 1936 Operating throughout entire year Operating less than full year 7682 7723 7580 7460 120 149,129 75,713 143,319 79,894 148,170 86,365 145,412 84,419 2,758 1,946 $2.42 1.23 $2.21 1.23 $2.13 1.24 $2.14 1.24 $1.65 1.17 20,124 26,769 271,735 25,201 27,927 276,341 33,877 24,357 292,769 33,251 23,706 286,788 626 651 5,981 .33 .42 4.40 .39 .43 4.26 .49 .35 4.21 .49 .35 4.22 .38 .39 3.59 68,512 1.411 75,620 815,368 61,664 1,017 78,632 13,961 60,486 1,016 77,101 13,684 1,178 1 1,531 277 $1.28 .06 1.20 .24 $1.06 .02 1.16 .24 $0.89 .02 1.13 .20 $0.89 .02 1.14 .20 $0.70 46,i42 217,844 47,435 208,346 13,475 41,914 210,663 13,004 41,004 206,295 471 910 4,368 .75 3.53 .73 3.21 .19 .60 3.03 .19 .60 3.04 .28 .55 2.62 N et c u r r e n t o p e ra tin g e a r n in g s ............................ 53,891 67,995 82,106 80,493 1,613 $0.87 $1.05 $1.18 $1.18 $0.97 36,975 1,524 35,764 1,516 1,211 8 $0.53 .02 $0.53 .02 $0.73 .38 P rofits o n assets sold o r exch a n g ed , recoveries a n d re d u c tio n s in v a lu a tio n a llo w a n c e s : Profits on SGCiiritiGS sold or oxchfingGd^ Profits on other assets sold or 0xcli3n^ed^ Recoveries and reductions in valuation allow ances on loans......................................................... Recoveries and reductions in valuation allow ances on securities.................................................. All other recoveries and reductions in valuation allowances................................................................. T o ta l profits o n assets sold , recoveries, e tc. N et earn in g s, p rofits a n d recoveries o n assets, e t c ............................................................................... Losses, ch a r g e -o ffs, a n d a d d itio n s to v a lu a tio n a llo w a n c e s : On loans........................................................................ On securities................................................................. All other losses, charge-offs, and additions to valuation allowances.............................................. T o ta l losses, ch a r g e -o ffs, e t c .......................... .92 .17 8,381 9,765 16,148 15,514 634 $0.14 $0.15 .23 .23 20,529 38,897 14,653 14,309 344 .33 .60 .21 .21 .21 8,776 37,686 7,370 56,032 7,083 76,383 6,438 73,541 645 2,842 .14 .61 .11 .86 .11 1.10 .09 1.08 .39 1.71 91,577 124,027 158,489 154,034 4,455 $1.48 $1.91 $2.28 $2.26 $2.68 99,862 70,770 65,897 40,263 43,213 23,166 41,300 22,188 1,913 978 $1.61 1.15 $1.02 .62 $0.62 .33 $0.61 .33 $1.15 .59 35,663 206,295 22,829 128,989 31,588 97,967 29,860 93,348 1,728 4,619 .58 3.34 .35 1.99 .46 1.41 .43 1.37 1 1.04 2.78 CORPORATION 79,666 3,682 73*798 814,556 INSURANCE C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Tnforocf onr? Hics^nnnt nn hnrrnwincfQ Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters^ Other current operating expenses........................... T o ta l c u r r e n t o p e ra tin g e x p e n se s ............... DEPOSIT C u rre n t o p e ra tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges......................................................... Other current operating earnings............................ G ross c u r r e n t o p e ra tin g e a r n in g s ............... Total FEDERAL Number of banks2 ............................................. 1935 Net profits before income taxes and dividends Income taxes, Federal and State....................... Net profits after income taxes............................. C ash d ivid en d s d ecla red a n d in te re s t p a id o n c a p ita l: Dividends declared and interest paid on preferred capital4 ...................................................................... Dividends declared on common capital4............. T o ta l ca s h d iv id en d s d ecla red a n d in terest p a id o n c a p i t a l ............................................. 60,686 2,416 58,270 -164 26 -190 7,205 17,311 7,061 16,966 144 345 $-1.86 $-0.08 $0.87 .04 .83 $0.89 .04 .85 $-0.10 .02 -0.12 $0.10 .25 $0.10 .25 $0.09 .20 13,929 20,473 24,516 24,027 -128,647 -25,435 33,564 34,243 -679 4,022 2,670 2,982 287 2,713 12,674 3,297 2,181 2,398 109 2,445 10,430 725 489 584 178 268 2,244 16,645 594 29 15,606 574 29 1,039 20 5,087 5,052 35 .07 .07 .02 22,355 21,261 1,094 .32 .31 .66 $0.23 $0.31 .35 .35 .29 $-2.09 $-0.39 $0.48 $0.50 $-0.41 ).05 .03 .04 .03 .15 $0.44 .29 .35 .11 .16 1,35 >.23 .01 $0.63 .01 0.24 .01 INSURED 23,883 23,412 471 $0.34 $0.34 $0.28 Total capital account, December 31, 1 93 5 .................. Total capital account, December 31, 1 9 3 6 .................. 1,019,078 1 M 2,961 999,316 1,022,728 19,762 20,233 11+.65 1U.99 11+.72 15.06 11.87 12.15 ASSETS Cash and due from b an ks........................................ Securities....................................................................... L oa n s............................................................................. Miscellaneous i T ota l a ssets. 1,567,381 2,439,957 2,497,141 450,971 6,955,450 1,528,532 2,379,723 2,438,920 441,809 6,788,984 38,849 60,234 58,221 9,162 166,466 $22.53 35.08 35.90 6.49 100.00 $22.51 35.05 35.93 6.51 100.00 $23.34 36.19 34.97 5.50 100.00 BANKS L IA B IL IT IE S A N D C A P IT A L Demand deposits................................................ Time deposits.................................................... . T o t a l d e p o s it s .............................................. Miscellaneous 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 , 2,877,642 2,961,437 5,839,079 72,695 1,043,676 6,955,450 2,793,289 2,900,343 5,693,632 71,766 1,023,586 6,788,984 84,353 61,094 145,447 929 20,090 166,466 $41.37 42.58 83.95 1.05 15.00 100.00 $41.14 42.72 83.86 1.06 15.08 100.00 $50.67 36.70 87.37 .56 12.07 100.00 M o n th ly average o f assets a n d lia b ilit ie s :8 1Averages of call date figures for 1934 and 1935. Averages of end-of-month figures for 1936. aExcludes banks as follows: 25 for 1934, 16 for 1935 and 17 for 1936. 3Includes “ Incom e T axes." 4Amounts reported separately only for 1936. 6N ot available. See note 3. 6Asset and liability items are averages of end-of-month figures. N O T E : Minus (- ) indicates deficit or deduction from profits. 167 N et c h a n g e in to ta l c a p ita l a c c o u n t fo r period COMMERCIAL O th e r d e d u c t io n s f r o m ca p ita l a c c o u n t :4 Preferred capital retired (par va lu e)..................... Comm on capital retired (par va lu e)..................... Premiums on preferred capital retired................. Paym ents to depositors on waived or sub ordinated claim s..................................................... T o t a l o t h e r d e d u c tio n s fr o m ca p ita l a c c o u n t ........................................................... 60,522 2,442 58,080 OP O th e r a d d itio n s t o c a p ita l a c c o u n t :4 Preferred capital sold (par v a lu e)...................... Common capital sold (par value)....................... Premiums on new capital so ld ............................ Deposits waived and subordinated.................... Assessments and other contributions................ T o t a l o t h e r a d d it io n s t o c a p ita l a c c o u n t (5) (5) -4,962 EARNINGS N et p rofits a fte r d iv id e n d s .................................. (s) (5) -114,718 Table 131. EARNINGS, E x p e n s e s , AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE F e d e r a l R e s e r v e S y ste m , C a le n d a r Y e a r 1936 BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS 168 Banks with monthly average deposits of— 1 All banks Number of banks.................................................... $250,000 to $500,000 7,460 741 2,327 1,998 1,238 145,412 84,419 2,639 395 14,618 4,584 21,654 9,404 24,151 12,780 33,251 23,706 286,788 728 185 3,947 3,763 1,006 23,971 4,987 1,688 37,733 $500,000 $1,000,000 $2,000,000 to to to $1,000,000 $2,000,000 $5,000,000 701 $5,000,000 $10,000,000 Over to to $10,000,000 $50,000,000 $50,000,000 332 76 43 4 24,413 14,891 23,260 15,453 12,829 7,896 14,880 13,215 6,968 5,801 5,114 2,414 44,459 4,890 3,070 47,264 4,840 3,774 47,327 2,554 3,529 26,808 5,724 6,971 40,790 651 1,069 14,489 (In 1:housands of’ dollars) 368 14 1,388 232 3,495 63 7,505 1,200 7,011 77 10,758 1,705 9,302 114 11,803 2,039 10,680 165 12,306 2,252 11,022 185 12,077 2,251 5,830 26 6,902 1,235 7,405 372 11,659 2,133 2,703 637 13.004 41.004 206,295 184 767 2,953 967 3,974 17,204 1,456 5,687 26,694 1,701 6,547 31,506 2,048 6,536 33,987 2,122 6,470 34,127 1,421 3,656 19,070 2,369 5,920 29,858 736 1,447 10,896 N et c u r r e n t o p e r a tin g e a r n in g s ............................ 80,493 994 6,767 11,039 12,953 13,277 13,200 7,738 10,932 3,593 35,764 1,516 106 18 1,690 104 3,669 209 5,555 177 6,549 241 7,445 211 3,843 131 5,504 302 1,403 123 15,514 188 1,144 1,500 1,595 1,865 2,272 1,942 2,503 2,505 14,309 50 470 871 1,550 2,130 2,424 1,774 2,235 2,805 5,373 P rofits o n assets so ld o r e xch a n g ed , recoveries a n d re d u c tio n s in v a lu a tio n a llo w a n c e s : Profits on securities sold or exchanged................. Profits on other assets sold or exchanged............. Recoveries and reductions in valuation allow ances on loans......................................................... Recoveries and reductions in valuation allow ances on securities.................................................. All other recoveries and reductions in valuation allowances................................................................ T o ta l p rofits o n assets sold , recoveries, e tc. 6,438 54 460 544 800 1,247 1,003 650 1,528 152 73,541 416 3,868 6,793 9,677 12,032 13,355 8,340 12,072 6,988 N et e a rn in g s, p rofits a n d recoveries o n assets, e t c ................................................................................... 154,034 1,410 10,635 17,832 22,630 25,309 26,555 16,078 23,004 10,581 41,300 22,188 649 66 3,347 845 4,639 1,831 5,083 2,950 6,510 4,234 7,811 4,790 3,614 2,127 8,358 4,478 1,289 867 29,860 93,348 328 1,043 1,812 6,004 2,307 8,777 3,233 11,266 4,245 14,989 4,136 16,737 3,591 9,332 7,913 20,749 2,295 4,451 L osses, ch a r g e -o ffs, a n d a d d itio n s to v a lu a tio n a llo w a n c e s : On loans........................................................................ On securities................................................................ All other losses, charge-offs, and additions to valuation allowances.............................................. T o t a l losses, ch a r g e -o ffs, e t c ...................... CORPORATION 60,486 1,016 77,101 13,684 INSURANCE C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters................................................ Other current operating expenses........................... T o t a l c u r r e n t o p e ra tin g e x p e n se s........... DEPOSIT $100,000 to $250,000 FEDERAL C u rre n t o p e ra tin g e a r n in g s : Interest and discount on loans.............................. Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges......................................................... Other current operating earnings........................... G ross c u r r e n t o p e ra tin g e a r n in g s ........... $100,000 and under N et p rofits b e fo re in c o m e taxes a n d divid en d s I n c o m e taxes, F ed era l a n d S t a t e ......................... N et p ro fits a fte r in c o m e ta x e s ............................... 60,686 2,416 58,270 367 35 332 4,631 267 4,364 9,055 427 8,628 11,364 457 10,907 10,320 396 9,924 9,818 299 9,519 6,746 213 6,533 2,255 322 1,933 6,130 C ash d ivid en d s d e cla re d a n d in te re s t p a id o n c a p it a l: Dividends declared and interest paid on preferred capital........................................................................ Dividends declared on common capital............... T o t a l ca sh d ivid en d s d ecla red a n d in terest p a id o n c a p it a l................................................. 7,061 16,966 79 165 434 1,575 709 2,427 974 2,567 1,288 2,349 1,348 2,461 767 1,587 1,051 2,887 411 948 24,027 244 2,009 3,136 3,541 3,637 3,809 2,354 3,938 1,359 N e t p rofits a ft e r d iv id e n d s ...................................... 34,243 88 2,355 5,492 7,366 6,287 5,710 4,179 -2,005 4,771 O th e r a d d it io n s t o c a p ita l a c c o u n t : Preferred capital sold (par va lu e).......................... Common capital sold (par va lu e)........................... Premiums on new capital s o ld ................................ Deposits waived and subordinated........................ Assessments and other contributions.................... T o t a l o t h e r a d d itio n s t o c a p ita l a c c o u n t 3,297 2,181 2,398 109 2,445 10,430 53 18 346 174 34 5 387 946 438 252 70 564 496 154 3 48 122 258 288 11 101 434 1,092 188 453 169 600 200 410 850 300 1,550 188 948 420 1,634 360 1,170 576 1,786 32 2,732 57 8 821 61 1,589 353 7 2,538 151 11 2,440 2,531 1 11 1,367 2,263 6,130 OF 1,222 1,453 933 337 563 3,171 4,153 3,373 2,880 1,930 2,263 2,000 N et c h a n g e in t o ta l ca p ita l a c c o u n t fo r p eriod 23,412 109 2,057 3,267 4,161 4,548 4,000 4,035 -1,536 2,771 Total capital account, December 31, 1935................... Total capital account, December 31, 1 936................... 999,316 1,022,728 18,52k 18,633 87,983 90,01+0 122,778 126,01+5 11+6,71+2 150,903 167,221 171,769 172,1+13 176,1+13 92,921+ 96,959 150,1+50 11+8,911+ 1+0,281 1+3,052 ASSETS Cash and due from b an ks........................................ 1,528,532 Securities....................................................................... 2,379,723 L oa n s............................................................................. 2,438,920 Miscellaneous assets................................................... 441,809 T o t a l a s s e t s ........................................................... 6.788.984 22,549 11,196 32,556 5,148 71,449 148,259 123,443 197,825 26,599 496.126 234,756 254,191 321,580 45,686 856.213 252,930 345,019 376,467 53,100 1.027.516 265,260 406,981 414,782 66,460 1.153.483 238,545 438,430 415,418 76,087 1.168.480 116,909 222,059 230,315 54,530 623,813 196,784 392,432 298,636 92,912 980.764 52,540 185,972 151,341 21,287 411.140 L IA B IL IT IE S A N D C A P IT A L Dem and deposits........................................................ Time deposits.............................................................. T o t a l d e p o s it s ....................................................... Miscellaneous liabilities............................................. Total capital accou nt............................................... T o t a l lia b ilitie s a n d c a p ita l a c c o u n t ........ 37,768 14,709 52,477 451 18,521 71,449 257,090 146,231 403,321 2,742 90,063 496.126 415,505 307,396 722,901 5,901 127,411 856.213 446,451 421,941 868,392 9,311 149,813 1.027.516 468,237 504,108 972,345 9,556 171,582 1.153.483 429.971 546,001 975.972 16,182 176,326 1.168.480 231,753 289,352 521,105 7,271 95,437 623,813 422,457 387,834 810,291 17,672 152,801 980.764 84,057 282,771 366,828 2,680 41,632 411.140 M o n th ly average o f assets a n d lia b ilit ie s :1 2,793,289 2,900,343 5,693,632 71,766 1,023,586 6.788.984 1Asset and liability items are averages of end-of-month figures. N O T E : Minus ( - ) indicates deficit, deduction from profits, or net decrease in total capital account. BANKS 508 1,390 COMMERCIAL 36 101 2,000 INSURED 5,052 21,261 15,606 574 29 EARNINGS O th e r d e d u c t io n s fr o m c a p ita l a c c o u n t : Preferred capital retired (par va lu e)..................... Common capital retired (par va lu e)..................... Premiums on preferred capital retired.................. Paym ents to depositors on waived or sub ordinated claim s..................................................... T o t a l o t h e r d e d u c tio n s fr o m ca p ita l a c c o u n t ............................................................... Ta b le 132. AVERAGES P E R B A N K OF EARNINGS, E X PEN SES, AND DISPO SITIO N OF P R O FITS OF IN S U R E D COMMERCIAL BA NKS 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 1936 BAN KS OPERATING THROUGHOUT ENTIRE YEAR GROUPED B Y AMOUNT OF DEPOSITS Banks with monthly average deposits of— 1 All banks Number of ban ks............................................... $100,000 to $250,000 $250,000 to $500,000 7,460 741 2,327 1,998 1,238 701 332 76 43 4 $19,492 11,316 $3,561 533 $6,282 1,970 $10,838 4,707 $19,508 10,323 $34,826 21,243 $70,060 46,545 $168,803 103,895 $346,047 307,326 $1,742,000 1,450,250 4,457 3,178 38,443 982 250 5,326 1,617 432 10,301 2,496 844 18,885 4,131 1,950 35,912 6,976 4,379 67,424 14,578 11,368 142,551 33,605 46,434 352,737 133,116 162,116 948,605 162,750 267,250 3,622,250 497 19 1,873 313 $1,502 27 3,225 516 $3,509 39 5,384 853 $7,514 92 9,534 1,647 $15,235 235 17,555 3,213 $33,199 557 36,377 6,780 $76,711 342 90,816 16,250 $172,209 8,651 271,140 49,605 $1,343,250 $500,000 $1,000,000 $2,000,000 to to to $1,000,000 $2,000,000 $5,000,000 $5,000,000 $10,000,000 Over to to $50,000,000 $10,000,000 $50,000,000 ( 2> 415 1,708 7,393 729 2,846 13,360 1,374 5,288 25,449 2,922 9,324 48,484 6,391 19,488 102,792 18,697 48,105 250,921 55,093 137,674 694,372 184,000 361,750 2,724,000 N et c u r r e n t o p e ra tin g e a r n in g s ............................ $10,790 $1,341 $2,908 $5,525 $10,463 $18,940 $39,759 $101,816 $254,233 $898,250 $ $ $1,836 105 $4,487 143 $9,342 344 $22,425 636 $50,566 1,724 $128,000 7,023 $350,750 30,750 P rofits o n a ssets s o ld o r e x ch a n g ed , recoveries a n d r e d u c tio n s in v a lu a tio n a llo w a n ce s : Profits on securities sold or exchanged................... Profits on other assets sold or exchanged............. Recoveries and reductions in valuation allowances on loans..................................................................... Recoveries and reductions in valuation allowances on securities.............................................................. All other recoveries and reductions in valuation allowances................................................................ T o ta l p ro fits o n a ssets sold , recoveries, e t c ...................................................................... N et ea rn in g s, p rofits a n d recoveries o n assets, e t c ................................................................................... L osses, ch a r g e -o ffs, a n d a d d itio n s to v a lu a tio n a llo w a n c e s : On loans........................................................................ On securities................................................................ Ail other losses, charge-offs, and additions to valuation allowances.............................................. T o ta l losses, ch a r g e -o ffs, e t c ...................... $4,794 203 143 24 726 45 675,750 159,250 2,080 254 492 751 1,288 2,660 6,843 25,553 58,209 626,250 1,918 68 202 436 1,252 3,039 7,301 23,342 51,977 701,250 863 73 197 272 646 1,779 3,021 8,552 35,535 38,000 9,858 562 1,662 3,400 7,816 17,164 40,226 109,737 280,744 1,747,000 $20,648 $1,903 $4,570 $8,925 $18,279 $36,104 $79,985 $211,553 $534,977 $2,645,250 $ 876 89 $1,438 363 $2,322 916 $4,106 2,383 $9,287 6,040 $23,527 14,428 $47,553 27,987 $194,372 104,140 $322,250 216,750 443 1,408 779 2,580 1,155 4,393 2,611 9,100 6,055 21,382 12,458 50,413 47,250 122,790 184,023 482,535 573,750 1,112,750 $5,536 2,974 4,003 12,513 CORPORATION 248 1,035 3,985 $ INSURANCE 1,743 5,497 27,653 $8,108 136 10,335 1,834 DEPOSIT C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters..................................................... Other current operating expenses........................... T o ta l cu r r e n t o p e r a tin g e x p e n se s ........... FEDERAL C u rre n t o p e ra tin g e a r n in g s : Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges....................................................... Other current operating earnings........................... G ross c u r r e n t o p e ra tin g e a r n in g s ........... $100,000 and under 495 47 448 $1,990 115 1,875 $4,532 214 4,318 $9,179 369 8,810 107 222 $ $ $ $14,722 565 14,157 $29,572 900 28,672 $88,763 2,803 85,960 $52,442 7,488 44,954 $1,532,500 $1,837 3,351 $4,060 7,413 $10,092 20,881 $24,442 67,140 $102,750 237,000 Net profits before income taxes and dividends Income taxes, Federal and State....................... Net profits after income taxes............................ $8,135 324 7,811 $ Gash dividends declared and interest paid on capital: Dividends declared and interest paid on preferred capital....................................................................... Dividends declared on common capital................. Total cash dividends declared and in terest paid on cap ital.............................. $ $ 329 863 1,569 2,860 5,188 11,473 30,973 91,582 339,750 Net profits after dividends...................................... $4,590 $ 119 $1,012 $2,749 $5,950 $8,969 $17,199 $54,987 $— 46,628 $1,192,750 $ 442 292 321 15 328 1,398 $ 71 24 $ 110 124 5 43 187 469 $ 173 87 17 2 194 473 $ $ $ 566 1,365 509 $7,895 2,631 5,395 $19,767 6,977 36,047 152 766 599 2,331 1,084 3,524 7,579 23,500 744 63,535 $2,092 77 4 $ 353 26 $ 795 177 4 $2,050 122 9 $3,481 $7,624 3 33 $17,987 $52,628 $500,000 52,628 500,000 77 10 $ 787 2,073 354 204 56 804 708 220 49 218 611 1,174 1,331 1,015 7,408 136 597 1,587 3,355 4,812 8,675 25,395 $1,635 $3,361 $6,488 $12,048 $53,092 $-35,721 $692,750 2k,999 25,11+6 37,810 38,691+ 61,1+50 63,085 118,532 121,893 238,51+6 21+5,031). 519,316 531,361+ 1,222,681+ 1,275,776 3,1+98,837 3,1+63,116 10,070,250 10,763,000 ASSETS Cash and due from ban ks.................................. Securities................................................................ L oans....................................................................... Miscellaneous assets............................................. Total assets................................................. $204,897 318,998 326,933 59,223 910,051 $ 30,431 15,109 43,935 6,947 96,422 $ 63,713 53,048 85,013 11,430 213,204 $117,495 127,223 160,951 22,866 428,535 $204,305 278,691 304,093 42,892 829,981 $378,402 580,572 591,700 94,808 1,645,482 $718,509 1,320,572 1,251,259 229,178 3,519,518 $1,538,276 2,921,829 3,030,461 717,500 8,208,066 $4,576,372 9,126,326 6,945,023 2,160,744 22,808,465 $13,135,000 46.493.000 37,835,250 5,321,750 102.785.000 LIA B IL IT IE S A N D C A P IT A L Demand deposits............................................. Tim e deposits.................................................... Total deposits........................................ Miscellaneous liabilities.................................. T otal capital account......................... ............ Total liabilities and capital............. $374,435 388,786 763,221 9,620 137,210 910,051 $ 50,969 19,850 70,819 608 24,995 96,422 $110,481 62,841 173,322 1,178 38,704 213,204 $207,960 153,852 361,812 2,954 63,769 428,535 $360,623 340,825 701,448 7,521 121,012 829,981 $667,956 719,127 1,387,083 13,632 244,767 1,645,482 $1,295,093 1,644,582 2,939,675 48,741 531,102 3,519,518 $3,049,382 3,807,263 6,856,645 95,671 1,255,750 8,208,066 $9,824,581 $21,014,250 9,019,395 70,692,750 18,843,976 91.707.000 410,977 670,000 3,553,512 10.408.000 22,808,465 102.785.000 $3,138 $ 147 $ M onth ly average of assets and liabilities:1 1Asset and liability items are averages of end-of-month figures. JBecause of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. N O T E : Minus (-) indicates deficit, deduction from profits, or net decrease in total capital account. BANKS 884 133,957 137,095 Total capital account, December 31 , 1935............ Total capital account, December 31, 1936............ COMMERCIAL 677 2,850 INSURED Net change in total capital account for period............................................................. A 65 164 355 1,214 OF Other deductions from capital account: Preferred capital retired (par va lu e). . . . . . Comm on capital retired (par va lu e)........... Premiums on preferred capital retired......... Paym ents to depositors on waived or subor dinated claim s......................................................... Total other deductions from capital a c c o u n t................................................ 3,221 186 677 EARNINGS Other additions to capital account: Preferred capital sold (par v a lu e )............... Comm on capital sold (par v a lu e)................ Premiums on new capital so ld ............. Deposits waived and subordinated.............. Assessments and other contributions.......... Total other additions to capital account 947 2,274 1,532,500 T able 133. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS, OF INSURED COMMERCIAL BANKS NOT MEMBERS OF the F ed e r a l R e s e r v e S y ste m ,-C a le n d a r Y e a r 1936 BAN KS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS Banks with monthly average deposits of— 1 All banks A m o u n ts p e r $100 o f to ta l a sse ts1 C u r r e n t o p e ra tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges.................... .................................... Other current operating earnings........................... G ross c u r r e n t o p e ra tin g e a r n in g s ............... C u r r e n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrow ings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters............................................... Other current operating expenses........................... T o ta l c u r r e n t o p e ra tin g e x p e n se s ............... N e t c u r r e n t o p e r a tin g e a r n in g s ............................ 741 2,327 1,998 1,238 701 332 76 43 4 $50.70 29.44 $66.86 10.01 $60.98 19.12 $57.39 24.92 $54.32 28.75 $51.65 31.51 $49.15 32.65 $47.86 29.45 $36.48 32.40 $48.09 40.04 11.59 8.27 100.00 18.44 4.69 100.00 15.70 4.20 100.00 13.22 4.47 100.00 11.50 5.43 100.00 10.35 6.49 100.00 10.23 7.97 100.00 9.53 13.16 100.00 14.03 17.09 100.00 4.49 7.38 100.00 $21.09 .35 26.89 4.77 $ 9.32 .36 35.17 5.88 $14.58 .26 31.31 5.01 $18.58 .20 28.51 4.52 $20.92 .26 26.55 4.59 $22.60 .35 26.04 4.76 $23.29 .39 25.52 4.76 $21.75 .10 25.75 4.60 $18.15 .91 28.58 5.23 $37.08 4.53 14.30 71.93 4.66 19.43 74.82 4.03 16.58 71.77 3.86 15.07 70.74 3.82 14.73 70.87 4.33 13.83 71.91 4.48 13.67 72.11 5.30 13.64 71.14 5.81 14.52 73.20 5.08 9.99 75.20 $28.07 $25.18 $28.23 $29.26 $29.13 $28.09 $27.89 $28.86 $26.80 $24.80 $ 2.14 1.24 $ 3.69 .55 $ 2.95 .92 $ 2.53 1.10 $ 2.35 1.24 $ 2.12 1.29 $ 1.99 1.32 $ 2.06 1.27 $ 1.52 1.35 $ 1.69 1.41 .49 .35 4.22 1.02 .26 5.52 .76 .20 4.83 .58 .20 4.41 .50 .24 4.33 .42 .27 4.10 .42 .32 4.05 .41 .56 4.30 .58 .71 4.16 .16 .26 3.52 $ 0.89 .02 1.14 .20 $ 0.52 .02 1.94 .32 $ 0.71 .01 1.51 .24 $ 0.82 .01 1.26 .20 $ 0.91 .01 1.15 .20 $ 0.93 .01 1.07 .19 $0.94 .02 1.04 .19 $ 0.93 $ 0.76 .04 1.19 .22 $ 1.31 1.11 .20 .19 .60 3.04 .26 1.07 4.13 .20 .80 3.47 .17 .66 3.12 .16 .64 3.07 .18 .57 2.95 .18 .55 2.92 .23 .59 3.06 .24 .60 3.05 .18 .35 2.65 $ 1.18 $ 1.39 $ 1.36 $ 1.29 $ 1.26 $ 1.15 $ 1.13 $ 1.24 $ 1.11 18.65 4.40 .66 .15 $ .87 CORPORATION N et c u r r e n t o p e ra tin g e a r n in g s ............................ 7,460 $5,000,000 $10,000,000 Over to to $50,000,000 $10,000,000 $50,000,000 ( 2) INSURANCE C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters............................................... Other current operating expenses........................... T o ta l c u r r e n t o p e ra tin g e x p e n se s ............... $250,000 to $500,000 DEPOSIT A m o u n ts p er $100 o f gross ea rn in g s C u rre n t o p e r a tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges......................................................... Other current operating earnings............................ G ross c u r r e n t o p e ra tin g e a r n in g s ............... $100,000 to $250,000 FEDERAL Number of banks............................................... $500,000 $1,000,000 $2,000,000 to to to $1,000,000 $2,000,000 $5,000,000 $100,000 and under Recoveries, profits on securities, e tc.. . ................. Losses and depreciation on assets.............................. N et p ro fits b e fo re in c o m e taxes a n d d ivid en d s Incom e taxes, Federal and S ta te................................ N et p ro fits a fte r in c o m e ta x e s ............................... Cash dividends declared............................................... N et p ro fits a fte r d iv id e n d s ...................................... Other additions to total capital a ccou nt................... Other deductions from total capital a ccou n t.......... N et c h a n g e in t o ta l c a p ita l a c c o u n t ................... Total, capital account, December 31, 1935................... Total capital account, December 31, 1936.................. $ 1.08 1.37 .89 .03 .86 .35 .51 .15 .31 .35 1U.72 15.07 $ 0.58 1.46 .51 .05 .46 .34 .12 .17 .14 .15 25.93 26.08 $ 0.78 1.21 .93 .05 .88 .40 .48 .22 .28 .42 17.73 18.15 $ 0.79 1.02 1.06 .05 1.01 .37 .64 .11 .37 .38 Ik.3 k 1U-72 $ 0.94 1.10 1.10 .04 1.06 .34 .72 .09 .40 .41 I k -28 lk-69 $ 1.04 1.30 .89 .03 .86 .32 .54 .14 .29 .39 Ik -50 lk-89 $ 1.14 1.43 .84 .03 .81 .32 .49 .10 .25 .34 lk-76 15.10 $ 1.34 1.50 1.08 .03 1.05 .38 .67 .29 .31 .65 lk-89 15.5k $ 1.23 2.11 .23 .03 .20 .40 -.2 0 .28 .23 -.1 5 15.3k 15.19 $ 1.70 1.08 1.49 A m o u n t s p er $100 o f t o t a l c a p ita l a c c o u n t 1 N et cu r r e n t o p e r a tin g e a r n in g s ............................ Recoveries, profits on securities, etc.......................... Losses and depreciation on assets.............................. N et p ro fits b e fo re in c o m e taxes a n d d ivid en d s Incom e taxes, Federal and S ta te................................ N et p ro fits a fte r in c o m e ta x e s ............................... Cash dividends declared............................................... N et p r o fits a fte r d iv id e n d s ...................................... Other additions to total capital account.................. Other deductions from total capital a ccou n t.......... N et c h a n g e in t o ta l c a p ita l a c c o u n t ................... $ 7.86 7.19 9.12 5.93 .24 5.69 2.35 3.34 1.02 2.07 2.29 $ 5.36 2.25 5.63 1.98 .19 1.79 1.32 .47 .66 .54 .59 $ 7.51 4.29 6.66 5.14 .30 4.84 2.23 2.61 1.21 1.54 2.28 $ 8.67 5.33 6.89 7.11 .34 6.77 2.46 4.31 .74 2.49 2.56 $ 8.65 6.46 7.52 7.59 .31 7.28 2.36 4.92 .63 2.77 2.78 $ 7.74 7.01 8.74 6.01 .23 5.78 2.12 3.66 .95 1.96 2.65 $ 7.49 7.57 9.49 5.57 .17 5.40 2.16 3.24 .66 1.63 2.27 $ 8.11 8.74 9.78 7.07 .22 6.85 2.47 4.38 1.87 2.02 4.23 $ 7.16 7.90 13.58 1.48 .21 1.27 2.58 -1.31 1.79 1.48 -1.00 $ 8.63 16.78 10.69 14.72 $ 5.96 $ 8.11 $ 7.39 $ 6.73 $ 6.42 $ 5.89 $ 5.60 $ 5.57 $ 4.98 $ 4.60 3.55 1.50 3.53 .95 3.71 1.37 3.70 1.44 3.70 1.61 3.66 1.61 3.52 1.70 3.56 1.73 3.37 1.40 3.12 .75 2.09 1.69 .93 2.50 1.99 .59 2.39 1.69 .68 2.28 1.44 .72 2.20 1.35 .86 2.12 1.57 1.04 2.02 1.88 1.09 2.01 1.57 .96 1.91 2.80 1.14 1.90 .85 .47 ASSETS Cash and due from banks........................................ Securities....................................................................... Loans............................................................................. Miscellaneous assets................................................. T o ta l a ss e ts ........................................................... $22.51 35.05 35.93 6.51 100.00 $31.56 15.67 45.57 7.20 100.00 $29.88 24.88 39.88 5.36 100.00 $27.42 29.69 37.56 5.33 100.00 $24.61 33.58 36.64 5.17 100.00 $23.00 35.28 35.96 5.76 100.00 $20.42 37.52 35.55 6.51 100.00 $18.74 35.60 36.92 8.74 100.00 $20.07 40.01 30.45 9.47 100.00 $12.78 45.23 36.81 5.18 100.00 LIA B IL IT IE S A N D C A P IT A L Demand deposits........................................................ Time deposits.............................................................. T o ta l d e p o s its ....................................................... Miscellaneous liabilities............................................ Total capital accou nt................................................ T o ta l lia b ilitie s a n d c a p ita l a c c o u n t ......... $41.14 42.72 83.86 1.06 15.08 100.00 $52.86 20.59 73.45 .63 25.92 100.00 $51.82 29.48 81.30 .55 18.15 100.00 $48.53 35.90 84.43 .69 14.88 100.00 $43.45 41.06 84.51 .91 14.58 100.00 $40.59 43.70 84.29 .83 14.88 100.00 $36.80 46.73 83.53 1.38 15.09 100.00 $37.15 46.39 83.54 1.16 15.30 100.00 $43.08 39.54 82.62 1.80 15.58 100.00 $20.44 68.78 89.22 .65 10.13 100.00 .49 .67 9.80 10.k7 BANKS ^ s s e t and liability items are averages of end-of-month figures. 2Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,00 0,000. N O T E : Minus (-) indicates deficit, deduction from profits, or net decrease in total capital account. COMMERCIAL M o n th ly average o f assets a n d lia b ilitie s per $100 o f to ta l a ss e ts:1 INSURED 4.80 6.66 OF 14.72 3.26 11.46 EAENINGS S p e cia l r a tio s Interest and discount on loans per $100 of total loans1 ............................................................................. Interest and dividends on securities per $100 of total securities1 ........................................................... Profits on securities per $100 of total securities1 . . Interest on time deposits per $100 of time deposits of individuals, partnerships, and corporations1. . Losses on loans per $100 of total loans1 ..................... Losses on securities per $100 of total securities1 . . 1.49 .33 1.16 T a b le 134. EARNINGS, E X P E N S E S , AND DISPO SITION OF P R O FITS OF IN SU RED COMMERCIAL BA N KS N O T M E M BERS 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 1936 BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH LOCATED Banks in centers with population (1930) of— All banks Under 250 250 to 500 500 to 1,000 1,000 to 2,500 14,110 8,603 15,105 8,809 16,300 10,954 9,345 5,790 43,442 29,199 4,478 1,793 35,320 3,123 1,501 27,337 2,840 2,011 28,765 3,169 2,435 32,858 1,566 1,586 18,287 12,634 12,789 98,064 FEDERAL 5,011 52 6,884 1,123 7,085 60 9,486 1,770 5,815 53 7,173 1,226 6,277 68 7,386 1,439 7,521 53 8,201 1.489 4,169 40 4,548 893 20,346 645 27,292 4,841 DEPOSIT 490 2,314 10,888 851 3,655 17,576 1,203 5,150 24,754 1,014 3,872 19,153 1,151 3,915 20,236 1.490 4,466 23,220 772 2,586 13,008 5,830 14,113 73,067 1,637 4,351 7,312 10,566 8,184 8,529 9,638 5,279 24,997 35,764 1,516 525 16 1,393 49 2,526 106 3,773 220 3,598 136 3,447 210 4,544 112 2,759 59 13,199 608 15,514 243 607 1,142 1,407 919 1,340 1,461 1,117 7,278 14,309 109 438 788 1,243 917 1,058 1,694 994 7,068 6,438 56 235 394 657 501 557 825 295 2,918 73,541 949 2,722 4,956 7,300 6,071 6,612 8,636 5,224 31,071 154,034 2,586 7,073 12,268 17,866 14,255 15,141 18,274 10,503 56,068 41,300 22,188 758 256 1,965 714 3,103 1,397 4,560 2,509 3,297 2,069 4,097 2,206 4,466 2,653 2,656 1,871 16,398 8,513 29,860 93,348 395 1,409 1,008 3,687 1,722 6,222 2,587 9,656 1,796 7,162 2,244 8,547 2,918 10,037 1,911 6,438 15,279 40,190 145,412 84,419 3,934 1,272 9,534 3,482 14,258 6,645 19,384 9,665 33,251 23,706 286,788 643 181 6,030 1,758 465 15,239 3,040 945 24,888 60,486 1,016 77,101 13,684 1,259 10 1,758 230 3,003 35 4,373 673 Other current operating expenses........................... T o t a l c u r r e n t o p e r a tin g e x p e n se s ........... 13.004 41.004 206,295 203 933 4,393 N e t c u r r e n t o p e r a tin g e a r n in g s ............................ 80,493 All other losses, charge-offs, and additions to T o ta l losses, ch a r g e -o ffs, e t c ...................... (In thousan(is of dollars) CORPORATION L osses, ch a r g e -o ffs, a n d a d d itio n s to v a lu a tio n a llo w a n c e s : 709 INSURANCE N et ea rn in gs, p rofits a n d recoveries o n assets, 50,000 and over 454 1,633 P rofits o n assets so ld o r e xch a n g ed , recoveries a n d r e d u c tio n s in v a lu a tio n a llo w a n ce s : Profits on securities sold or exchanged................... Profits on other assets sold or exchanged............. Recoveries and reductions in valuation allowances on loans.......................... ................ t........................ Recoveries and reductions in valuation allowances on securities.............................................................. All other recoveries and reductions in valuation allowances................................................................ T o ta l p ro fits o n assets s o ld , recoveries, 25.000 to 50.000 169 1,392 C u rre n t o p e r a tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of 10,000 to 25,000 372 710 Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges....................................................... Other current opesating earnings........................... G ross c u r r e n t o p e ra tin g e a r n in g s ........... 5.000 to 10.000 488 1,533 7,460 C u rre n t o p e ra tin g ea rn in g s: 2,500 to 5,000 Net profits before income taxes and dividends Income taxes, Federal and State................... Net profits after income taxes........................ 60,686 2,416 58,270 1,177 61 1,116 3,386 145 3,241 6,046 230 5,816 8,210 368 7,842 7,093 230 6,863 6,594 274 6,320 8,237 225 8,012 4,065 107 3,958 15,878 776 15,102 331 830 475 1,501 831 2,222 656 1,671 735 1,850 811 1,626 624 829 2,493 6,122 420 1,161 1,976 3,053 2,327 2,585 2,437 1,453 8,615 34,243 696 2,080 3,840 4,789 4,536 3,735 5,575 2,505 6,487 Other additions to capital account: Preferred capital sold (par v a lu e)..................... Comm on capital sold (par va lu e)...................... Premiums on new capital s o ld ............................ Deposits waived and subordinated................... Assessments and other contributions................ Total other additions to capital account 3,297 2,181 2,398 109 2,445 1-0,430 79 25 277 90 18 4 252 641 454 257 89 99 313 1,212 384 180 27 263 343 179 75 63 19 75 5 4 41 149 169 17 10 2 177 375 1,596 1,131 2,051 316 907 229 1,014 354 511 76 156 687 5,465 15,606 574 29 44 8 411 13 1,150 42 5 2,087 227 1,477 59 1,446 50 14 1,524 50 10 652 6,815 125 5,052 124 440 921 1,081 367 354 286 974 505 21,261 176 864 2,118 3,395 1,903 1,864 1,870 1,626 7,445 Other deductions from capital account: Preferred capital retired (par va lu e)..................... Comm on capital retired (par va lu e)..................... Premiums on preferred capital retired................... Paym ents to depositors on waived or subor dinated claim s......................................................... Total other deductions from capital a c c o u n t...................................................... Net change in total capital account for period....................................................................... Total capital account, December 31, 1935.......... Total capital account, December 31, 1936.......... 669 1,591 2,363 2,606 3,540 2,885 4,216 1,035 4,507 21,971 22,640 54,577 56,168 82,258 84,621 115,302 117,908 89,559 93,099 100,670 103,555 113,347 117,563 68,074 69,109 353,558 358,065 1,528,532 2,379,723 2,438,920 441,809 6,788,984 35,891 34,850 58,938 5,568 135,247 90,444 94,159 139,194 13,410 337,207 150,722 174,853 212,042 32,475 570,092 221,324 261,106 294,112 40,056 816,598 163,299 229,693 227,909 35,875 656,776 163,091 241,935 250,980 41,393 697,399 174,580 303,375 236,314 53,011 817,280 101,051 166,645 159,983 30,204 457,883 428,130 873,107 809,448 189,817 2,300,502 2,793,289 2,900,343 5,693,632 71,766 1,023,586 6,788,984 59,067 53,695 112,762 450 22,035 135,247 152,312 127,754 280,066 1,305 55,836 337,207 264,383 217,529 481,912 2,544 85,636 570,092 386,235 308,154 694,389 4,044 118,165 816,598 301,711 256,772 558,483 5,977 92,316 656,776 297,766 292,081 589,847 4,093 103,459 697,399 334,880 360,606 695,486 5,262 116,532 817,280 174,290 211,788 386,078 2,601 69,204 457,883 822,645 1,071,964 1,894,609 45,490 360,403 2,300,502 M onthly average of assets and liabilities^ ASSETS Cash and due from ban ks................................ Securities.............................................................. L oans..................................................................... Miscellaneous assets.......................................... T otal assets............................................... LIA B IL IT IE S A N D C A P IT A L Demand deposits.................................................... Time deposits.......................................................... Total deposits.............................................. Miscellaneous liabilities........................................ Total capital account............................................ _____ Total liabilities and capital ac c o u n t. 1Asset and liability items are averages of end-of-month figures. BANKS 23,412 999,316 1,022,728 COMMERCIAL 24,027 Net profits after dividends.................................. INSURED 105 315 OF 7,061 16,966 EARNINGS Cash dividends declared and interest paid on capital: Dividends declared and interest paid on preferred capital................................................................... Dividends declared on common cap ital............ Total cash dividends declared and in terest paid on cap ital......................... -3 or Ta b le 135. EARNINGS, E X P E N S E S , AND DISPO SITION OF P R O FITS, RA TIO S, OF IN SU R ED COMMERCIAL BA N KS NOT M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1936 ^ BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH LOCATED Banks in centers with population (1930) of— All banks A m o u n ts p er $100 o f to ta l a ssets1 C u rre n t o p e ra tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges......................................................... Other current operating earnings............................ G ro ss cu r r e n t o p e ra tin g e a r n in g s ............... C u rre n t o p e r a tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters................................................ Other current operating expenses........................... T o ta l c u r r e n t o p e ra tin g e x p e n se s ................ N et c u r r e n t o p e ra tin g e a r n in g s ............................ 2,500 to 5,000 5.000 to 10.000 10,000 to 25,000 25.000 to 50.000 50,000 and over 7,460 710 1,392 1,633 1,533 709 488 372 169 454 $50.70 29.44 $65.24 21.10 $62.56 22.85 $57.29 26.70 $54.88 27.36 $51.62 31.47 $52.51 30.63 $49.61 33.34 $51.10 31.66 $44.30 29.78 11.59 8.27 100.00 10.66 3.00 100.00 11.54 3.05 100.00 12.21 3.80 100.00 12.68 5.08 100.00 11.42 5.49 100.00 9.87 6.99 100.00 9.64 7.41 100.00 8.57 8.67 100.00 12.88 13.04 100.00 $21.09 .35 26.89 4.77 $20.88 .17 29.15 3.81 $19.71 .23 28.70 4.42 $20.13 .21 27.66 4.51 $20.06 .17 26.86 5.01 $21.27 .19 26.24 4.49 $21.82 .24 25.68 5.00 $22.89 .16 24.96 4.53 $22.80 .22 24.87 4.88 $20.75 .65 27.83 4.94 4.53 14.30 71.93 3.37 15.47 72.85 3.21 15.18 71.45 3.42 14.69 70.62 3.40 14.58 70.08 3.71 14.16 70.06 4.00 13.61 70.35 4.54 13.59 70.67 4.22 14.14 71.13 5.95 14.39 74.51 $28.07 $27.15 $28.55 $29.38 $29.92 $29.94 $29.65 $29.33 $28.87 $25.49 $ 2.14 1.24 $ 2.91 .94 $ 2.83 1.03 $ 2.50 1.17 $ 2.37 1.18 $ 2.15 1.31 $ 2.16 1.26 $ 1.99 1.34 $ 2.04 1.26 $ 1.89 1.27 .49 .35 4.22 .48 .13 4.46 .52 .14 4.52 .53 .17 4.37 .55 .22 4.32 .48 .23 4.17 .41 .29 4.12 .39 .30 4.02 .34 .35 3.99 .55 .55 4.26 $ 0.89 .02 1.14 .20 $ 0.93 .01 1.30 .17 $ 0.89 .01 1.30 .20 $ 0.88 .01 1.21 .20 $ 0.87 .01 1.16 .21 $ 0.89 .01 1.09 .19 $ 0.90 .01 1.06 .21 $ 0.92 .01 1.00 .18 $ 0.91 .01 .99 .20 $ 0.88 .03 1.19 .21 .19 .60 3.04 .15 .69 3.25 .14 .69 3.23 .15 .64 3.09 .15 .63 3.03 .15 .59 2.92 .16 .56 2.90 .18 .55 2.84 .17 .56 2.84 .25 .61 3.17 $ 1.18 $ 1.21 $ 1.29 $ 1.28 $ 1.29 $ 1.25 $ 1.22 $ 1.18 $ 1.15 $ 1.09 CORPORATION N et c u r r e n t o p e r a tin g e a r n in g s ............................ 1,000 to 2,500 INSURANCE C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters................................................ Other current operating expenses........................... T o t a l c u r r e n t o p e r a tin g e x p e n se s ................ 500 to 1,000 DEPOSIT A m o u n ts p er $100 o f gross ea rn in g s C u r r e n t o p e ra tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges......................................................... Other current operating earnings........................... G ro ss c u r r e n t o p e r a t in g e a r n in g s ............... 250 to 500 FEDERAL Number of banks................................................ Under 250 $ 0.92 1.09 1.08 .04 1.04 .35 .69 .14 .29 .54 13.61+ 11+.18 $ 0.95 1.22 .95 .04 .91 .37 .54 .14 .27 .41 11+.1+1+ 11+.85 $ 1.06 1.23 1.01 .03 .98 .30 .68 .06 .23 .51 13.87 11+.38 $ 1.14 1.41 .88 .02 .86 .32 .54 .03 .35 .22 11+.87 15.09 $ 1.35 1.75 .69 .03 .66 .38 .28 .24 .33 .19 15.37 15.56 A m o u n t s p er $100 o f t o ta l c a p ita l a c c o u n t 1 N et c u r r e n t o p e ra tin g e a r n in g s ............................ Recoveries, profits on securities, e tc.......................... Losses and depreciation on assets.............................. N et p ro fits b e fo r e in c o m e taxes a n d d ivid en d s Incom e taxes, Federal and S ta te................................ N et p rofits a fte r in c o m e ta x e s ............................... Cash dividends declared............................................... N et p rofits a fte r d iv id e n d s ...................................... Other additions to total capital account.................. Other deductions from total capital a ccou n t.......... N et c h a n g e in t o ta l c a p ita l a c c o u n t .................. $ 7.86 7.19 9.12 5.93 .24 5.69 2.35 3.34 1.02 2.07 2.29 $ 7.42 4.31 6.39 5.34 .28 5.06 1.90 3.16 .68 .80 3.04 $ 7.79 4.87 6.60 6.06 .26 5.80 2.08 3.72 .67 1.54 2.85 $ 8.54 5.79 7.27 7.06 .27 6.79 2.31 4.48 .75 2.47 2.76 $ 8.94 6.18 8.17 6.95 .31 6.64 2.59 4.05 1.02 2.87 2.20 $ 8.86 6.58 7.76 7.68 .25 7.43 2.52 4.91 .98 2.06 3.83 $ 8.24 6.39 8.26 6.37 .26 6.11 2.50 3.61 .98 1.80 2.79 $ 8.27 7.41 8.61 7.07 .19 6.88 2.09 4.79 .44 1.61 3.62 $ 7.62 7.55 9.30 5.87 .15 5.72 2.10 3.62 .23 2.35 1.50 $ 6.94 8.62 11.15 4.41 .22 4.19 2.39 1.80 1.52 2.07 1.25 $ 5.96 $ 6.67 $ 6.85 $ 6.72 $ 6.59 $ 6.19 $ 6.02 $ 5.69 $ 5.84 $ 5.37 3.55 1.50 3.65 1.51 3.70 1.48 3.80 1.44 3.70 1.45 3.75 1.57 3.64 1.42 3.61 1.50 3.47 1.66 3.34 1.51 2.09 1.69 .93 2.34 1.29 .73 2.35 1.41 .76 2.30 1.46 .80 2.30 1.55 .96 2.26 1.45 .90 2.15 1.63 .91 2.09 1.56 .87 1.97 1.66 1.12 1.90 2.03 .98 M o n t h ly average o f assets a n d lia b ilities per $100 o f to ta l a s s e ts :1 ASSETS Cash and due from ban ks........................................ Securities...................................................................... L oans............................................................................. Miscellaneous assets................................................... T o ta l a ss e ts ............................................................ $22.51 35.05 35.93 6.51 100.00 $26.54 25.77 43.58 4.11 100.00 $26.82 27.92 41.28 3.98 100.00 $26.44 30.67 37.19 5.70 100.00 $27.10 31.97 36.02 4.91 100.00 $24.87 34.97 34.70 5.46 100.00 $23.38 34.69 35.99 5.94 100.00 $21.36 37.12 35.03 6.49 100.00 $22.07 36.39 34.94 6.60 100.00 $18.61 37.95 35.19 8.25 100.00 L IA B IL IT IE S A N D C A P IT A L Demand deposits........................................................ Tim e deposits.............................................................. T o t a l d e p o s it s ....................................................... Miscellaneous liabilities............................................ Total capital account................................................ T o ta l lia b ilitie s a n d ca p ita l a c c o u n t ........ $41.14 42.72 83.86 1.06 15.08 100.00 $43.68 39.70 83.38 .33 16.29 100.00 $45.17 37.88 83.05 .39 16.56 100.00 $46.38 38.15 84.53 .45 15.02 100.00 $47.30 37.73 85.03 .50 14.47 100.00 $45.94 39.09 85.03 .91 14.06 100.00 $42.70 41.88 84.58 .59 14.83 100.00 $40.98 44.12 85.10 .64 14.26 100.00 $38.07 46.25 84.32 .57 15.11 100.00 $35.76 46.60 82,36 1.98 15.66 100.00 S p ecia l ra tio s Interest and discount on loans per $100 of total loans1 ............................................................................. Interest and dividends on securities per $100 of total securities1 ........................................................... Profits on securities per $100 of total securities1 . . Interest on time deposits per $100 of time deposits of individuals, partnerships, and corporations1 . Losses on loans per $100 of total loans1 .................... Losses on securities per $100 of total securities1 . . 1Asset and liability items are averages of end-of-month figures. 177 $ 0.89 1.18 1.00 .04 .96 .37 .59 .15 .42 .32 11+.12 U -U BANKS $ 0.87 1.09 1.06 .04 1.02 .35 .67 .11 .37 .41 11+.1+3 11+.81+ COMMERCIAL $ 0.81 1.09 1.01 .05 .96 .34 .62 .11 .26 .47 16.19 16.66 INSURED $ 0.70 1.04 .87 .05 .82 .31 .51 .11 .13 .49 16.25 16.71+ OF $ 1.08 1.37 .89 .03 .86 .35 .51 .15 .31 .35 11+.72 15.07 EARNINGS Recoveries, profits on securities, e t c .......................... Losses and depreciation on assets.............................. N et p rofits b e fo r e i n c o m e taxes a n d d ivid en d s Incom e taxes, Federal and S ta te................................ N et p rofits a fte r in c o m e ta x e s ............................... Cash dividends declared............................................... N et profits a fte r d iv id e n d s ...................................... Other additions to total capital account.................. Other deductions from total capital a ccou n t.......... N et c h a n g e in t o ta l c a p ita l a c c o u n t ................... Total capital account, December 31, 1 93 5 ................... Total capital account, December 31, 1 93 6................... Ta b le 136. EARNING S, E x p e n s e s , AND DISPOSITION OF P R O FITS OF IN SU R ED COMMERCIAL BA NKS NOT M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1936 BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED Banks in centers with— All banks Number of banks............................................... 2 banking offices 4,752 1,613 3 banking offices 402 4 banking offices 173 5 banking offices 80 (In thoussmds of dolla,rs) 4,172 6,773 2,283 3,893 6 banking offices 7 banking offices 8 banking offices 9 or more banking offices 66 27 25 322 2,649 1,908 1,593 795 1,848 683 35,839 24,955 145,412 84,419 45,789 22,406 32,087 18,996 14,662 8,500 33,251 23,706 286,788 10,877 3,599 82,671 6,191 3,950 61,224 2,497 2,120 27,779 1,205 903 12,774 620 540 7,615 665 745 5,967 264 206 2,858 517 232 3,280 10,415 11,411 82,620 13,080 90 16,112 2,975 6,523 44 6,943 1,352 2,872 44 3,343 674 2,101 14 1,756 399 1,232 160 1,559 321 713 1 804 132 576 9 946 161 17,341 474 22,905 4,035 13,004 41,004 206,295 2,917 12,383 57,896 2,459 8,508 43,224 1,193 3,739 19,794 537 1,770 9,240 276 1,017 5,563 274 890 4,436 157 391 2,198 164 566 2,422 5,027 11,740 61,522 N et cu rre n t o p e r a tin g e a r n in g s ............................ 80,493 24,775 18,000 7,985 3,534 2,052 1,531 660 858 21,098 35,764 1,516 9,045 389 7,834 300 3,603 176 1,839 43 1,133 32 836 46 649 12 286 12 10,539 506 15,514 3,731 2,350 1,350 450 305 329 328 60 6,611 14,309 2,691 2,445 1,083 701 155 287 515 116 6,316 P rofits o n assets sold or ex ch a n g ed , recoveries a n d re d u c tio n s in v a lu a tion a llo w a n ce s : Profits on securities sold or exchanged................... Profits on other assets sold or exchanged............ Recoveries and reductions in valuation allowances on loans..................................................................... Recoveries and reductions in valuation allowances on securities....................................................... .. All other recoveries and reductions in valuation allowances................................................................ T o ta l p rofits o n assets sold , recoveries, 6,438 1,413 1,232 608 209 182 283 272 89 2,150 73,541 17,269 14,161 6,820 3,242 1,807 1,781 1,776 563 26,122 154,034 42,044 32,161 14,805 6,776 3,859 3,312 2,436 1,421 47,220 41,300 22,188 9,858 5,089 7,845 4,833 4,340 1,955 2,141 1,031 1,012 711 1,982 759 463 473 488 155 13,171 7,182 29,860 93,348 5,908 20,855 4,674 17,352 2,321 8,616 1,304 4,476 483 2,206 884 3,625 806 1,742 268 911 13,212 33,565 N et e a rn in g s, p rofits a n d recoveries o n assets, Losses, ch a r g e -o ffs, a n d a d d itio n s to v a lu a tio n a llo w a n ce s: On loans........................................................................ All other losses, charge-offs, and additions to valuation allowances.............................................. CORPORATION 16,048 180 22,733 3,635 INSURANCE 60,486 1,016 77,101 13,684 DEPOSIT C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters.................................................... Other current operating expenses.......................... T o ta l c u r r e n t o p e ra tin g e x p e n s e s ........... FEDERAL C u rre n t o p e ra tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges....................................................... Other current operating earnings........................... G ross c u r r e n t o p e ra tin g e a r n in g s ........... 7,460 1 banking office Net profits before income taxes and dividends Income taxes, Federal and State................... Net profits after income taxes........................ 60,686 2,416 58,270 21,189 879 20,310 14,809 484 14,325 6,189 168 6,021 2,300 100 2,200 1,653 47 1,606 -313 30 -343 694 14 680 510 36 474 13,655 658 12,997 7,061 16,966 1,861 4,778 1,481 3,432 699 1,572 401 702 189 425 226 343 142 138 35 176 2,027 5,400 2,271 1,103 614 569 280 211 7,427 9,412 3,750 1,097 992 -912 400 263 5,570 O th e r a d d itio n s t o c a p ita l a c c o u n t : Preferred capital sold (par v a lu e ) ......................... Common capital sold (par va lu e).......................... Premiums on new capital sold ................................ Deposits waived and subordinated........................ Assessments and other contributions.................... T o ta l o t h e r a d d itio n s to c a p ita l a c c o u n t 3,297 2,181 2,398 109 2,445 10,430 943 559 241 10 524 2,277 526 331 77 99 888 1,921 235 102 18 76 91 31 17 112 56 302 151 1,517 653 1,838 239 594 111 278 48 52 220 47 500 584 4,592 15,606 574 29 3,570 217 12 3,705 146 17 1,275 84 468 121 5,052 2,224 1,633 379 73 160 125 21,261 6,023 5,501 1,738 541 281 379 O th e r d e d u c tio n s fr o m c a p ita l a c c o u n t : Preferred capital retired (par va lu e)..................... Common capital retired (par v a lu e)..................... Premiums on preferred capital retired................... Paym ents to depositors on waived or subor dinated claim s......................................................... T o ta l o th e r d e d u c tio n s f r o m ca p ita l a c c o u n t ...................................................... N et c h a n g e in to ta l ca p ita l a c c o u n t fo r p e r io d .......................................................... 127 127 45 6,295 45 6,753 458 9,925 5,832 2,606 834 759 -1,071 355 763 3,409 999,316 1,022,728 270,201 280,126 207,1*60 213,292 98,170 100,776 1*6,1*70 1*7,304. 30,939 31,698 31,156 30,085 10,920 11,275 10,61*2 11,1*05 293,358 296,767 M o n th ly average o f assets a n d lia b ilitie s :1 ASSETS Cash and due from banks.................................... Securities.................................................................. L oans......................................................................... Miscellaneous assets.............................................. T o ta l a s s e ts ................................................... 1,528,532 2,379,723 2,438,920 441,809 6,788,984 508,006 607,883 699,181 95,050 1,910,120 359,660 515,775 515,637 85,541 1,476,613 156,390 237,221 249,368 40,755 683,734 66,841 111,818 117,204 20,858 316,721 38,830 68,529 69,836 12,270 189,465 26,177 54,481 52,899 14,506 148,063 11,178 23,502 26,956 5,047 66,683 18,870 21,017 32,298 5,791 77,976 342,580 739,497 675,541 161,991 1,919,609 L IA B IL IT IE S A N D C A P IT A L Demand deposits.................................................... Time deposits.......................................................... T o ta l d e p o s it s .............................................. Miscellaneous liabilities........................................ Total capital accou nt............................................ T o t a l lia b ilitie s a n d ca p ita l a c c o u n t . 2,793,289 2,900,343 5,693,632 71,766 1,023,586 6,788,984 908,577 712,641 1,621,218 9,639 279,263 1,910,120 659,425 594,533 1,253,958 10,225 212,430 1,476,613 275,524 303,947 579,471 3,956 100,307 683,734 116,233 149,387 265,620 2,975 48,126 316,721 63,801 92,675 156,476 1,714 31,275 189,465 48,634 62,678 111,312 5,590 31,161 148,063 19,986 34,872 54.858 848 10,977 66,683 35,676 29,715 65,391 1,555 11,030 77,976 665,433 919,895 1,585,328 35,264 299,017 1,919,609 1Asset and liability items are averages of end-of-month figures. N O T E : M in u s(-) indicates deficit deduction from profits, or net decrease in total capital account BANKS 23,412 Total capital account, December 31, 1935............... Total capital account, December 31, 1936............... COMMERCIAL 4,913 13,671 INSURED 6,639 34,243 OF 24,027 N et p ro fits a fte r d iv id e n d s ...................................... EARNINGS C a sh d ivid en d s d e cla re d a n d in te re s t p a id o n c a p ita l: Dividends declared and interest paid on preferred capital....................................................................... Dividends declared on common capital........ T o ta l c a s h d iv id en d s d e cla re d a n d in terest p a id o n c a p i t a l .............................. Table 137. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS, OF INSURED COMMERCIAL BANKS NOT M e m b e r s o f t h e F e d e r a l R e s e r v e S ystem , C a le n d a r Y e a r 1936 BANKS OPERATING THROUGHOUT E NTIRE YE A R GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED qq Banks in centers with— All banks A m o u n t s per $100 o f gross earn in gs C u rren t o p era tin g e a rn in g s: Other current operating earnings.............................. G ross cu rre n t op eratin g e a r n in g s ................. N e t c u rre n t o p e ra tin g e a r n in g s ............................... C u rren t o p era tin g expenses: Interest on time and savings deposits..................... Interest and discount on borrowings....................... Salaries wages and fees............................................... Taxes (other than on incom e).................................... Other expenses of occupancy and maintenance of banking quarters .................................................. Other current operating expenses.............................. T o ta l c u rre n t op eratin g e x p e n s e s................. N et cu rre n t o p era tin g e a r n in g s ............................... 8 banking offices 9 or more banking offices 7,460 4,752 1,613 402 173 80 66 27 25 322 $50.70 29.44 $55.39 27.10 $52.41 31.03 $52.78 30.60 $53.02 30.48 $54.79 29.98 $44.39 31.98 $55.74 27.81 $56.34 20.83 $43.38 30.20 11.59 8.27 100.00 13.16 4.35 100.00 10.11 6.45 100.00 8.99 7.63 100.00 9.43 7.07 100.00 8.14 7.09 100.00 11.14 12.49 100.00 9.24 7.21 100.00 15.76 7.07 100.00 12.61 13.81 100.00 $21.09 .35 26.89 4.77 $19.41 .22 27.50 4.39 $21.36 .15 26.31 4.86 $23.48 .16 24.99 4.87 $22.48 .34 26.17 5.28 $27.59 .18 23.06 5.24 $20.65 2.68 26.13 5.38 $24.95 .04 28.13 4.62 $17.56 .27 28.84 4.91 $20.99 .57 27.72 4.88 4.53 14.30 71.93 3.53 14.98 70.03 4.02 13.90 70.60 4.30 13.46 71.26 4.20 13.86 72.33 3.62 13.36 73.05 4.59 14.91 74.34 5.49 13.68 76.91 5.00 17.26 73.84 6.09 14.21 74.46 $28.07 $29.97 $29.40 $28.74 $27.67 $26.95 $25.66 $23.09 $26.16 $25.54 $ 2.14 1.24 $ 2.40 1.17 $ 2.17 1.29 $ 2.14 1.24 $ 2.14 1.23 $ 2.20 1.20 $ 1.79 1.29 $ 2.39 1.19 $ 2.37 .88 $ 1.87 1.30 .49 .35 4.22 .57 .19 4.33 .42 .27 4.15 .37 .31 4.06 .38 .28 4.03 .33 .29 4.02 .45 .50 4.03 .40 .31 4.29 .66 .30 4.21 .54 .59 4.30 $ 0.89 .02 1.14 .20 $ 0.84 .01 1.19 .19 $ 0.88 .01 1.09 .20 $ 0.95 .01 1.01 .20 $ 0.91 .01 1.06 .21 $ 1.11 .01 .93 .21 $ 0.83 .11 1.05 .22 $ 1.07 1.20 .20 $ 0.74 .01 1.21 .21 $ 0.90 .03 1.19 .21 .19 .60 3.04 .15 .65 3.03 .17 .58 2.93 .17 .55 2.89 .17 .56 2.92 .14 .54 2.94 .19 .60 3.00 .24 .59 3.30 .21 .73 3.11 .26 .61 3.20 $ 1.18 $ 1.30 $ 1.22 $ 1.17 $ 1.11 $ 1.08 $ 1.03 $ 0.99 $ 1.10 $ 1.10 CORPORATION A m o u n t s per $100 o f to ta l a sse ts1 C u rren t o p era tin g e a rn in g s: Interest and discount on loans................................... Interest and dividends on securities........................ Commissions, fees, and collection, exchange and service ch a rg e s............................................................ Other current operating earnings. .......................... G ross cu rre n t op era tin g e a r n in g s ................. 7 banking offices INSURANCE C u rren t op eratin g exp enses: Interest on time and savings deposits..................... Interest and discount on borrowings....................... Salaries wages, and fees. ........................................ Taxes (other than on incom e).................................... Other expenses of occupancy and maintenance of banking quarters.................................................... Other current operating expenses.............................. T o ta l c u rre n t op eratin g e x p e n se s................. 6 banking offices 3 banking offices DEPOSIT Interest and dividends on securities........................ Commissions, fees, and collection, exchange and 5 banking offices 2 banking offices FEDERAL Number of banks.................................................... 4 banking offices 1 banking office $ 0.96 1.18 1.00 .03 .97 .33 .64 .13 .37 .40 14-05 1445 $ 1.00 1.26 .91 .03 .88 .33 .55 .08 .25 .38 14.36 14.74 $ 1.02 1.41 .72 .03 .69 .35 .34 .09 .17 .26 14-67 14-93 $ 0.95 1.16 .87 .02 .85 .33 .52 .03 .15 .40 16.33 16.73 $ 1.20 2.44 -.2 1 .02 -.2 3 .38 -.6 1 .15 .26 -.7 2 21.04 20.32 A m o u n ts p er $100 o f t o ta l ca p ita l a c c o u n t 1 N et cu r r e n t o p e ra tin g e a r n in g s ............................ Recoveries, profits on securities, etc.......................... Losses and depreciation on assets.............................. N et p ro fits b e fo re in c o m e taxes a n d d ivid en d s Incom e taxes, Federal and S ta te ................................ N et p rofits a fte r in c o m e ta x e s............................... Cash dividends declared............................................... N et p rofits a fte r d i v i d e n d s .............................. Other additions to total capital a ccou n t............... Other deductions from total capital accou n t........ N et c h a n g e in t o ta l c a p ita l a c c o u n t . ............... 7.86 7.19 9.12 5.93 .24 5.69 2.35 3.34 1.02 2.07 2.29 8.87 6.18 7.47 7.58 .31 7.27 2.38 4.89 .82 2.16 3.55 8.47 6.67 8.17 6.97 .23 6.74 2.31 4.43 .90 2.59 2.74 $ 7.96 6.80 8.59 6.17 .17 6.00 2.26 3.74 .59 1.73 2.60 7.34 6.74 9.30 4.78 .21 4.57 2.29 2.28 .57 1.12 1.73 6.55 5.78 7.05 5.28 .15 5.13 1.96 3.17 .15 .90 2.42 $ 4.91 5.72 11.63 -1 .0 0 .10 -1 .1 0 1.83 -2 .9 3 .70 1.21 -3 .4 4 $ 6.01 16.18 15.87 6.32 .13 6.19 2.55 3.64 .07 .53 16.38 16.91 .41 3.23 0.72 1.17 .65 .05 .60 .27 .33 .64 .97 13.65 14-62 7.78 5.10 8.26 4.62 .33 4.29 1.91 2.38 4.53 6.91 $ 1.36 1.75 .71 .03 .68 .39 .29 .24 .35 .18 15.28 15.46 $ 7.06 8.74 11.23 4.57 .22 4.35 2.49 1.86 1.54 2.26 1.14 6.22 5.78 5.97 $ 5.01 5.91 $ 5.72 5.31 3.69 1.49 3.68 1.52 3.58 1.52 3.48 1.64 3.33 1.65 3.50 1.53 3.38 2.76 3.25 1.36 3.37 1.43 2.09 1.69 .93 2.25 1.41 .84 2.20 1.52 .94 2.15 1.74 .82 1.92 1.83 .92 2.27 1.45 1.04 1.97 3.75 1.39 2.04 1.72 2.01 1.94 1.51 .74 1.89 1.95 .97 $22.51 35.05 35.93 6.51 100.00 $26.60 31.82 36.60 4.98 100.00 $24.36 34.93 34.92 5.79 100.00 $22.87 34.70 36.47 5.96 100.00 $21.10 35.30 37.01 6.59 1 0 0 .0 0 $20.49 36.17 36.86 6.48 100.00 $17.68 36.80 35.72 9.80 100.00 $16.76 35.24 40.43 7.57 100.00 $24.20 26.95 41.42 7.43 100.00 $17.85 38.52 35.19 8.44 100.00 $41.14 42.72 83.86 1.06 15.08 100.00 $47.57 37.31 84.88 .50 14.62 100.00 $44.66 40.26 84.92 .69 14.39 100.00 $40.30 44.45 84.75 .58 14.67 100.00 $36.70 47.16 83.86 .94 15.20 100.00 $33.67 48.92 82.59 .90 16.51 100.00 $32.85 42.33 75.18 3.78 21.04 100.00 $29.97 52.30 82.27 1.27 16.46 100.00 $45.75 38.11 83.86 1.99 14.15 100.00 $34.67 47.92 82.59 1.84 15.57 100.00 M o n th ly average o f a ssets a n d lia b ilitie s per $100 o f t o t a l a s s e t s :1 ASSETS Cash and due from b an ks......................................... Securities....................................................................... L oans.............................................................................. Miscellaneous assets.................................................. T o t a l a s s e ts ........................................................... L IA B IL IT IE S A N D C A P IT A L Demand deposits.............................................. . Tim e deposits.......................................................... T o t a l d e p o s it s ....................................................... Miscellaneous liabilities........................................ Total capital a ccou nt................................................. T o t a l lia b ilities a n d c a p ita l a c c o u n t ........ 1Asset and liability items are averages of end-of-month figures. N O T E : Minus ( - ) indicates deficit, deduction from profits, or net decrease in total capital account. BANKS $ 6.55 3.55 1.50 COMMERCIAL S p e c ia l r a tio s Interest and discount on loans per $100 of total loans1 ............................................................................. Interest and dividends on securities per $100 of total securities1............................................................ Profits on securities per $100 of total securities1 .. Interest on time deposits per $100 of time deposits of individuals, partnerships, and corporations1.. Losses on loans per $100 of total loans1..................... Losses on securities per $100 of total securities1 . . 2.66 2.61 1.04 .02 1.02 .42 .60 INSURED $ 0.90 1.09 1.11 .05 1.06 .35 .71 .12 .31 .52 14.14 14-66 OF $ 1.08 1.37 .89 .03 .86 .35 .51 .15 .31 .35 14.72 15.07 EARNINGS Recoveries, profits on securities, e t c ......................... Losses and depreciation on assets.............................. N e t p rofits b e fo r e in c o m e taxes a n d d ivid en d s Incom e taxes, Federal and S ta te................................ N e t p rofits a fte r in c o m e ta x e s ................ ............. Cash dividends declared................................................ N e t p rofits a fte r d iv id e n d s ................................ Other additions to total capital account.................. Other deductions from total capital a ccou n t.......... 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 ................... Total capital account, December 31, 1935.................. Total capital account, December 31, 1936................... 00 T able 138. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS o f t h e F e d e r a l R e s e r v e Sy s t e m , C a l e n d a r Y e a r 1936 BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS ON TOTAL ASSETS All Banks with n et current operating de ficits per $100 of total assets o f - 1 $0.51 and over Number of banks............................................... $0.50 or less Banks with net current operating earnings per $100 of total assets of— 1 $0.51 to $1.00 $0.50 or less $1.01 to $1.50 $1.51 to $2.00 $2.01 to $2.50 $2.51 to $3.00 $3.01 and over 49,185 30,879 23,357 13,479 12,763 4,687 4,896 1,789 4,924 537 8,422 5,646 71,395 9,253 6,042 95,359 5,448 2,356 44,640 3,013 1,726 22,189 1,817 1,080 9,582 1 448 382 7,291 6,756 494 11,564 1,974 16,626 113 20,418 3,837 22,959 152 23,029 4,219 8,065 72 10,707 1,811 3,362 54 5,306 827 866 7 2,504 412 715 29 1,884 263 277 715 3,673 2,115 6,167 29,070 3,953 10,854 55,801 3,585 12,176 66.120 1,562 5,659 27,876 741 2,970 13,260 353 1,187 5,329 363 1,043 4,297 -185 -196 3,101 15,594 29,239 16,764 8,929 4,253 2,994 35,764 1,516 190 8 610 22 5,408 221 11,473 420 10,952 527 4,647 193 1,785 74 490 17 209 34 15,514 54 200 1,870 3,158 6,153 1,886 1,365 320 508 4,876 1,970 439 196 95 620 82 103 145,412 84,419 316 185 1,594 1,178 13,815 8,920 34,562 22,765 33,251 23,706 286,788 97 86 684 443 262 3,477 3,310 6,126 32,171 128 45 336 72 1,009 50 1,353 269 13,004 41,004 206,295 55 233 869 N et c u r r e n t o p e r a tin g e a r n in g s ............................ 80,493 P rofits o n assets so ld o r e xch a n g e d , recoveries a n d re d u c tio n s in va lu a tion a llo w a n ce s: Profits on securities sold or exchanged................... Profits on other assets sold or exchanged............. Recoveries and reductions in valuation allowances 2,146 (Ini thousands <Df dollars) C u rre n t o p e r a tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges....................................................... Other current operating earnings........................... G ross c u r r e n t o p e ra tin g e a r n in g s ........... C u rre n t o p e r a tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters..................................................... Other current operating expenses........................... T o t a l c u r r e n t o p e r a tin g e x p e n s e s . . . . . | 60,486 1,016 77,101 13.684 | l i Recoveries and reductions in valuation allowances on securities.............................................................. All other recoveries and reductions in valuation allowances................................................................ T o t a l p ro fits o n a ssets s o ld , recoveries, e t c ...................................................................... 6,438 208 97 1,862 1,021 1,643 802 73,541 464 1,077 12,622 19,392 24,151 9,498 4,283 1,105 949 N et e a rn in g s, p ro fits a n d recov eries o n assets, e t c .............................................................................. 154,034 279 881 15,723 34,986 53,390 26,262 13,212 5,358 3,943 41,300 22,188 353 29 413 296 5,031 2,591 13.043 6,884 12,179 6,677 5,585 3,708 2,660 1,558 1,132 323 904 122 29,860 93,348 122 504 268 977 7,020 14,642 6,696 26,623 9,190 28,046 3,222 12,515 1,984 6,202 865 2,320 493 1,519 L osses, ch a r g e -o ffs , a n d a d d itio n s to v a lu a tio n a llo w a n c e s : All other losses, charge-offs, and additions to valuation allowances....................................... . T o ta l losses, c h a r g e -o lfs, e t c ...................... 14,309 4 148 3,261 3,320 CORPORATION 210 893 INSURANCE 250 166 DEPOSIT 596 41 FEDERAL 1,293 1,865 7,460 -9 6 12 -1 08 1,081 104 977 8,363 355 8,008 25,344 617 24,727 13,747 450 13,297 7,010 327 6,683 3,038 303 2,735 2,424 246 2,178 C ash d ivid en d s d ecla red a n d in te re s t p a id o n c a p it a l: Dividends declared and interest paid on preferred capital....................................................................... Dividends declared on common capital................. T o ta l ca s h d ivid en d s d ecla red a n d in terest p a id o n c a p it a l............................. 7,061 16,966 13 11 80 97 579 1,071 2,234 3,065 2,556 5,899 1,026 3,206 392 1,731 103 1,136 78 750 24,027 24 177 1,650 5,299 8,455 4,232 2,123 1,239 828 N et p rofits a fte r d iv id e n d s ...................................... 34,243 -251 -285 -673 2,709 16,272 9.065 4,560 1,496 1,350 O th e r a d d itio n s to c a p ita l a c c o u n t : Preferred capital sold (par v a lu e ) ......................... Common capital sold (par va lu e).......................... Premiums on new capital s o ld ................................ Deposits waived and subordinated........................ Assessments and other contributions.................... T o ta l o th e r a d d itio n s to c a p ita l a c c o u n t 3,297 2,181 2,398 109 2,445 10,430 188 56 36 8 544 873 337 4 554 2,312 669 239 371 37 243 343 1,403 348 1,545 99 351 3,746 149 283 74 71 259 399 163 58 3 368 991 192 698 513 1,792 18 55 40 51 5 3 135 234 141 22 1,659 108 4,833 58 18 5,165 97 1,604 74 1,643 145 25 416 190 N et 15,606 574 29 11 5,052 18 417 995 1,806 1,272 433 72 39 21,261 181 2,184 5,904 7,068 2,950 2,087 242 645 c h a n g e in t o t a l c a p ita l a c c o u n t fo r p e r i o d ....................................................................... 23,412 8 -123 -1,866 551 11,516 6,813 4,265 1,309 939 Total capital account, December 31, 1935.................. Total capital account, December 31, 1936.................. 999,316 1,022,728 5,581, 5,592 17,088 16,965 136,697 13 U,831 270,k32 270,983 312,898 92k M U 11*5,565 152,378 58,006 62,271 3k,539 35,8k8 18,507 19,kk6 ASSETS Cash and due from ban ks........................................ 1,528,532 Securities...................................................................... 2,379,723 L oans............................................................................. 2,438,920 Miscellaneous assets................................................. 441,809 T o ta l a s s e ts ........................................................ 6,788,984 5,276 5,474 6,508 2,238 19,496 31,160 36,729 30,033 7,879 105,801 225,040 281,278 271,190 86,840 864,348 453,854 662,265 636,145 134,932 1,887,196 463,600 871,838 840,645 129,923 2,306,006 213,077 343,268 361,050 46,667 964,062 83,331 119,035 177,820 19,201 399,387 36,694 47,591 65,518 9,537 159,340 16,500 12,245 50,011 4,592 83,348 L IA B IL IT IE S A N D C A P IT A L Demand deposits........................................................ Time deposits.......................... ................................... T o ta l d e p o s it s .................................................. Miscellaneous 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 . .. 6,988 5,916 12,904 1,125 5,467 19,496 39,359 48,159 87,518 1,499 16,784 105,801 380,135 326,715 706,850 19,250 138,248 864,348 806,629 793,971 1,600,600 12,723 273,873 1,887,196 843,837 1,125,310 1,969,147 15,234 321,625 2,306,006 439,392 367,309 806,701 6,243 151,118 964,062 167,769 161,575 329,344 8,039 62,004 399,387 81,142 38,878 120,020 3,845 35,475 159,340 28,038 32,510 60,548 3,808 18,992 83,348 COMMERCIAL O th e r d e d u c tio n s fr o m ca p ita l a c c o u n t : Preferred capital retired (par va lu e)..................... Common capital retired (par va lu e)..................... Premiums on preferred capital retired................... Payments to depositors on waived or subor dinated claim s......................................................... T o t a l o t h e r d e d u c t io n s f r o m ca p ita l a c c o u n t .......................................................... INSURED -225 2 -227 OF 60,686 2,416 58,270 EARNINGS Net profits before income taxes and dividends Income taxes, Federal and State....................... Net profits after income taxes............................ M o n th ly average o f assets a n d lia b ilit ie s :1 1Asset and liability items are averages of end-of-month figures. N O T E : Minus (-) indicates deficit, deduction from profits, or net decrease in total capital account. BANKS 2,793,289 2,900,343 5,693,632 71,766 1,023,586 6,788,984 T ab le 139. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS, OF INSURED COMMERCIAL BANKS NOT M e m b e r s o f t h e F e d e r a l R e s e r v e S ystem , C a le n d a r Y e a r 1936 BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS ON TOTAL ASSETS All banks Banks with net current operating deficits per $100 of total assets o f - 1 $0.51 and over Number of banks............................................... C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters................................................ Other current operating expenses........................... T o t a l c u r r e n t o p e ra tin g e x p e n s e s ................ N et c u r r e n t o p e ra tin g e a r n in g s ............................ $1.51 to $2.00 $2.01 to $2.50 $2.51 to $3.00 $3.01 and over 7,460 41 166 893 1,865 2,146 1,293 596 250 210 $50.70 29.44 $46.20 27.05 $45.84 33.88 $42.94 27.73 $48.41 31.89 $51.58 32.38 $52.32 30.19 $57.52 21.12 $51.10 18.67 $67.54 7.37 11.59 8.27 100.00 14.18 12.57 100.00 12.74 7.54 100.00 10.29 19.04 100.00 11.80 7.90 100.00 9.70 6.34 100.00 12.21 5.28 100.00 13.58 7.78 100.00 18.96 11.27 100.00 19.86 5.23 100.00 $21.09 .35 26.89 4.77 $18.71 6.58 49.12 10.53 $29.02 1.44 38.91 7.74 $21.00 1.54 35.95 6.14 $23.29 .16 28.60 5.37 $24.08 .16 24.15 4.42 $18.07 .16 23.99 4.06 $15.15 .24 23.91 3.73 $ 9.04 .07 26.13 4.30 $ 9.81 .40 25.84 3.61 4.53 14.30 71.93 8.04 34.07 127.05 7.97 20.56 105.64 6.57 19.16 90.36 5.54 15.20 78.16 3.76 12.77 69.34 3.50 12.67 62.45 3.34 13.39 59.76 3.68 12.39 55.61 4.98 14.30 58.94 $28.07 $-27.05 $-5.64 $ 9.64 $21.84 $30.66 $37.55 $40.24 $44.39 $41.06 $ 2.14 1.24 $ 1.62 .95 $ 1.51 1.11 $ 1.60 1.03 $ 1.83 1.20 $ 2.14 1.34 $ 2.42 1.40 $ 3.20 1.17 $ 3.07 1.12 $ 5.91 .64 .49 .35 4.22 .50 .44 3.51 .42 .25 3.29 .38 .71 3.72 .45 .30 3.78 .40 .26 4.14 .57 .24 4.63 .75 .43 5.55 1.14 .68 6.01 1.74 .46 8.75 $ 0.89 .02 1.14 .20 $ 0.66 .23 1.72 .37 $ 0.95 .05 1.28 .25 $ 0.78 .06 1.34 .23 $ 0.88 .01 1.08 .20 $ 1.00 .01 1.00 .18 $ 0.84 .01 1.11 .19 $ 0.84 .01 1.33 .21 $ 0.54 1.57 .26 $ 0.86 .03 2.26 .32 .19 .60 3.04 .28 1.20 4.46 .26 .68 3.47 .24 .71 3.36 .21 .58 2.96 .15 .53 2.87 .16 .58 2.89 .19 .73 3.31 .22 .75 3.34 .44 1.25 5.16 $ 1.18 $-0.95 $-0.18 $ 0.36 $ 0.82 $ 1.27 $ 1.74 $ 2.24 $ 2.67 $ 3.59 CORPORATION A m o u n ts p er $100 o f to ta l a ssets1 C u rre n t o p e ra tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges......................................................... Other current operating earnings........................... G ross c u r r e n t o p e ra tin g e a r n in g s ............... $1.01 to $1.50 INSURANCE N et c u r r e n t o p e r a tin g e a r n in g s ............................ $0.51 to $1.00 DEPOSIT C u rre n t o p e ra tin g exp en ses: Interest on time and savings deposits................... Interest and discount on borrowings..................... Salaries, wages, and fees........................................... Taxes (other than on in com e)................................. Other expenses of occupancy and maintenance of banking quarters............................................... Other current operating expenses........................... T o ta l c u r r e n t o p e r a tin g e x p e n se s ............... $0.50 or less FEDERAL A m o u n t s p er $100 o f g ross ea rn in g s C u rre n t o p e ra tin g e a rn in g s: Interest and discount on loans................................ Interest and dividends on securities...................... Commissions, fees, and collection, exchange and service charges......................................................... Other current operating earnings............................ G ross cu r r e n t o p e r a tin g e a r n in g s ............... $0.50 or less Banks with net current operating earnings per $100 of total assets of— 1 $ 1.03 1.41 $ 1.05 1.22 $ 0.99 1.30 $ 1.07 1.55 $ 0.70 1.46 $ 1.14 1.82 N et p rofits b e fo r e in c o m e taxes a n d d ivid en d s Incom e taxes, Federal and S ta te................................ N et p rofits a fte r in c o m e ta x e s ............................... Cash dividends declared............................................... N et p rofits a fte r d iv id e n d s ...................................... Other additions to total capital account.................. .89 .03 .86 .35 .51 .15 .31 .35 1U.72 15.07 -1.15 .01 -1.16 .12 -1.28 1.33 -.0 9 .01 -.1 0 .17 -.2 7 .32 .17 -.1 2 16.15 16.03 .13 .02 .11 .19 -.0 8 .11 .25 -.2 2 15.82 15.60 .44 .02 .42 .28 .14 .20 .31 .03 l k .33 lk-36 1.10 .03 1.07 .36 .71 .10 .31 .50 13.57 1U-07 1.43 .05 1.38 .44 .94 .07 .30 .71 15.10 15.81 1.76 .08 1.68 .53 1.15 .44 .52 1.07 l k .52 15.59 1.91 .19 1.72 .78 .94 .03 .15 .82 21.68 22.50 2.91 .30 2.61 .99 1.62 .28 .77 1.13 22.20 23.33 $ 7.86 7.19 9.12 5.93 .24 5.69 2.35 3.34 1.02 2.07 2.29 $-3.39 8.49 9.22 -4.12 .03 -4.15 .44 -4.59 4.74 .15 $-1.17 6.42 5.82 -.5 7 .07 -.6 4 1.05 -1.69 2.04 1.08 -.7 3 $ 2.24 9.13 10.59 .78 .08 .70 1.19 -.4 9 .72 1.58 -1 .3 5 $ 5.69 7.08 9.72 3.05 .13 2.92 1.93 .99 1.37 2.16 .20 $ 9.09 7.50 8.72 7.87 .19 7.68 2.63 5.05 .72 2.19 3.58 $11.09 6.29 8.28 9.10 .30 8.80 2.80 6.00 .46 1.95 4.51 $14.40 6.91 10.00 11.31 .53 10.78 3.42 7.36 2.89 3.37 6.88 $11.98 3.12 6.54 8.56 .85 7.71 3.49 4.22 .16 .69 3.69 $15.76 5.00 8.00 12.76 1.29 11.47 4.36 7.11 1.23 3.40 4.94 $ 5.96 $ 4.86 $ 5.31 $ 5.09 $ 5.43 $ 5.85 $ 6.47 $ 7.18 $ 7.47 $ 9.85 3.55 1.50 3.38 3.47 3.21 1.66 3.17 1.92 3.44 1.73 3.54 1.26 3.93 1.35 3.94 1.50 3.76 1.03 4.39 1.71 2.09 1.69 .93 2.16 5.42 .53 2.10 1.38 .81 2.07 1.86 .92 2.09 2.05 1.04 2.04 1.45 .77 2.20 1.55 1.08 2.08 1.50 1.31 2.23 1.73 .68 2.20 1.81 1.00 Cash and due from banks........................................ Securities....................................................................... L oans............................................................................. Miscellaneous assets................................................. T o ta l a ss e ts ........................................................... $22.51 35.05 35.93 6.51 100.00 $27.06 28.08 33.38 11.48 100.00 $29.45 34.72 28.39 7.44 100.00 $26.04 32.54 31.38 10.04 100.00 $24.05 35.09 33.71 7.15 100.00 $20.10 37.81 36.45 5.64 100.00 $22.10 35.61 37.45 4.84 100.00 $20.86 29.81 44.52 4.81 100.00 $23.03 29.87 41.12 5.98 100.00 $19.80 14.69 60.00 5.51 100.00 L IA B IL IT IE S A N D C A P IT A L Demand deposits........................................................ Time deposits.............................................................. T o ta l d e p o s its ..................... ................................. Miscellaneous 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 ........ $41.14 42.72 83.86 1.06 15.08 100.00 $35.84 30.35 66.19 5.77 28.04 100.00 $37.20 45.52 82.72 1.42 15.86 100.00 $43.98 37.80 81.78 2.23 15.99 100.00 $42.74 42.07 84.81 .68 14.51 100.00 $36.59 48.80 85.39 .66 13.95 100.00 $45.58 38.10 83.68 .65 15.67 100.00 $42.00 40.46 82.46 2.01 15.53 100.00 $50.92 24.40 75.32 2.41 22.27 100.00 $33.64 39.01 72.65 4.57 22.78 100.00 N et ch a n g e in t o ta l c a p ita l a c c o u n t .................. Total capital account, December 31, 193 5 ................... Total capital account, December 31, 1 93 6 ................... A m o u n ts p er $100 o f t o ta l c a p ita l a c c o u n t 1 N et cu r r e n t o p e ra tin g e a r n in g s ............................ Recoveries, profits on securities, e tc.......................... Losses and depreciation on assets.............................. N et p rofits b e fo re in c o m e taxes a n d d ivid end s Incom e taxes, Federal and S ta te................................ N et p rofits a fte r in c o m e ta x e s ............................... Cash dividends declared............................................... N et p rofits a fte r d iv id e n d s ...................................... Other additions to total capital account.................. N et c h a n g e in t o ta l c a p ita l a c c o u n t ................... S p ecia l ra tio s Interest and discount on loans per $100 of total loans1 ............................................................................ Interest and dividends on securities per $100 of total securities1 ........................................................... Profits on securities per $100 of total securities1 .. Interest on time deposits per $100 of time deposits of individuals, partnerships, and corporations1. . Losses on loans per $100 of total loans1 .................... Losses on securities per $100 of total securities1 .. .05 28.64. 28.69 M o n th ly average o f assets a n d lia b ilities per $100 o f to ta l a s s e ts :1 assets 1Asset and liability items are averages of end-of-month figures. N O T E : Minus (-) indicates deficit, deduction from profits, or net decrease in total capital account. BANKS $ 1.46 1.69 COMMERCIAL $ 1.02 .93 INSURED $ 2.39 2.59 OP $ 1.08 1.37 EARNINGS Recoveries, profits on securities, e tc.......................... Losses and depreciation on assets.............................. T ab le 140. NET CURRENT OPERATING EARNINGS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1936 NUMBER OF BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS ON TOTAL ASSETS, AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED All banks $0.51 and over Banks with net current operating earnings per $100 of total assets of— 1 $0.50 or less $0.50 or less $0.51 to $1.00 $1.01 to $1.50 $1.51 to $2.00 $2.01 to $2.50 $2.51 to $3.00 $3.01 and over 893 1,865 2,146 1,293 596 250 210 741 2,327 1,998 11 16 5 33 47 40 126 284 212 145 513 520 153 615 605 96 432 359 82 226 156 42 103 59 53 91 42 $500,000 to $1,000,000...................................................... $1,000,000 to $2,000,000.................................................. $2,000,000 to $5,000,000.................................................. 1,238 701 332 6 3 22 16 8 137 85 33 341 202 102 385 225 123 217 127 48 80 32 13 31 9 3 19 2 2 $5,000,000 to $10,000,000................................................ $10,000,000 to $50,000,000.............................................. Over $50,000,000................................................................. 76 43 4 8 6 2 26 16 26 12 2 9 5 4 3 2 1 1 B an k s in c e n te r s w ith p o p u la tio n (1930) o f — Under 2 5 0 .............................................................................. 250 to 500.............................................................................. 500 to 1,000.......................................................................... 710 1,392 1,633 3 8 9 22 28 23 113 178 175 174 325 419 179 399 458 121 241 304 50 123 144 30 46 59 18 44 42 1,000 to 2,500....................................................................... 2,500 to 5,000....................................................................... 5,000 to 10,000..................................................................... 1,533 709 488 7 4 1 25 23 12 162 84 41 351 181 137 461 205 159 280 124 89 146 53 29 59 20 10 42 15 10 10,000 to 2 5,000................................................................... 25,000 to 50,000................................................................... 50,000 and o v e r ................................................................... 372 169 454 2 8 6 19 37 26 77 114 45 119 125 54 106 51 27 56 21 3 27 7 5 14 B an k s in ce n te r s w ith — 1 banking office.................................................................... 2 banking offices.................................................................. 3 banking offices.................................................................. 4,752 1,613 402 25 10 85 37 14 534 209 50 1,131 447 98 1,364 451 142 861 277 61 433 114 16 182 42 6 137 26 15 4 banking offices.................................................................. 5 banking offices................................................................... 6 banking offices.................................................................. 173 80 66 10 3 3 18 7 10 48 25 18 46 32 17 32 9 8 8 6 2 1 3 5 4 4 7 banking offices................. ................................................. 8 banking offices................................................................... 9 or more banking offices.................................................. 27 25 322 4 1 3 10 4 7 54 7 3 88 8 5 81 o 1 42 2 1 21 1 3 7 2 2 15 1Asset and liability items are averages of end-of-month figures. 7 7 3 29 CORPORATION 166 INSURANCE 41 DEPOSIT 7,460 w ith m o n t h ly average d e p o sits o f — 1 and under............................................................ to $250,000.......................................................... to $500,000.......................................................... B anks $100,000 $100,000 $250,000 FEDERAL A ll b a n k s ................................................................................. Banks with net current operating deficits per $100 of total assets of— 1 00 ^ T ab le 141. N e t P r o fits BEFORE DIVIDENDS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1936 NUMBER OF BAN KS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET PROFITS ON TOTAL ASSETS, AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED All banks $3.01 and over $3.00 to $2.51 $2.50 to $2.01 $2.00 to $1.51 $1.50 to $1.01 $1.00 to $0.51 $0.50 or less $0.50 or less $0.51 to $1.00 $1.01 to $1.50 $1.51 to $2.00 $2.01 and over 64 105 169 517 1,382 1,662 1,447 896 1,027 741 2,327 1,998 25 39 18 6 6 3 10 17 13 15 19 17 22 33 19 34 60 35 106 171 124 170 441 334 118 473 459 103 439 419 51 290 270 81 339 287 $500,000 to $1,000,000...................................................... $1,000,000 to $2,000,000.................................................. $2,000,000 to $5,000,000................................................ 1,238 701 332 10 14 5 5 3 2 8 3 1 4 5 4 16 5 8 16 15 7 61 32 20 217 134 63 297 192 87 260 137 65 157 84 33 187 77 37 $5,000,000 to $10,000,000................................................ $10,000,000 to $50,000,000............................................. Over $50,000,000. ............................................................. 76 43 4 1 2 1 1 1 1 2 1 15 g 24 12 12 10 2 7 3 1 13 5 1 B an k s in ce n te r s w ith p o p u la tio n (1930) o f — Under 2 5 0 ............................................................................ 250 to 5 00................. .............................................. ............ 500 to 1,0 0 0 ........................................................... .............. 710 1,392 1,633 13 22 28 3 4 3 8 6 15 6 20 15 16 21 19 25 45 38 68 118 113 141 274 286 160 290 353 127 268 327 71 156 201 72 168 235 1,000 to 2,5 0 0 ...................................................................... 2,500 to 5,000...................................................................... 5,000 to 10,000............... ................................................... 1,533 709 488 15 6 12 5 2 4 11 1 6 7 2 5 18 14 3 15 13 9 102 38 24 275 142 70 335 165 118 292 132 108 211 91 64 247 103 65 10,000 to 25,000.................................................................. 25,000 to 50,000................................................................ 50,000 and o v e r .............................................................. 372 169 454 2 5 11 1 1 2 2 3 4 1 4 4 3 7 11 2 11 24 9 21 68 35 91 95 39 107 76 37 80 37 18 47 48 19 70 B an k s in ce n te r s w ith — 1 banking office......................................................... . . . 2 banking offices.................................................................. 3 banking offices................................................................. 4,752 1,613 402 58 32 9 11 7 2 34 12 3 39 13 7 62 27 2 111 32 6 357 102 16 856 308 82 1,031 368 101 935 311 78 583 195 47 675 206 49 4 banking offices................................................................ 5 banking offices.................................................................. 6 banking offices................................................................ 173 80 66 2 2 2 5 4 5 5 1 1 2 11 10 2 39 13 9 41 17 13 26 20 16 17 6 8 24 9 9 7 banking offices................................................................ 8 banking offices.................................................................. 9 or more banking offices................................................ 27 25 322 7 2 2 15 3 9 63 11 7 73 3 2 56 4 3 33 3 2 50 lAsset and liability items are averages of end-of-month figures. 1 8 ! 1 3 2 ii BANKS 52 COMMERCIAL 25 INSURED 114 OP 7,460 w ith m o n t h ly a vera ge d ep osits o f— 1 and un d er............................................................ to $250,000......................................................... to $500,000............................................... . B an k s $100,000 $100,000 $250,000 EARNINGS A ll b a n k s ........................................................................... Banks with net losses before dividends per $100 of total assets of— 1 Banks with net profits before dividends per $100 of total assets of— 1 T a b le 142. N E T C U R R E N T OPERATING EARNINGS OF IN SURED COMMERCIAL BA NKS N O T M EM B ER S OF T H E FE D E R A L R e s e r v e S y st e m , C a le n d a r Y e a r 1936 NUMBER OF BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS AND NET PROFITS ON TOTAL ASSETS, AND BY SIGNIFICANT BALANCE SHEET RATIOS Banks with net current operating deficits per $100 of total assets of 1 All banks Banks with net current operating earnings per $100 of total assets of— 1 $0.50 or less $0.51 to $1.00 $1.01 to $1.50 $1.51 to $2.00 $2.01 to $2.50 $2.51 to $3.00 $3.01 and over 166 893 1,865 2,146 1,293 596 250 114 25 52 3 1 10 2 4 34 3 11 29 9 15 24 7 12 8 1 6 1 2 1 5 $3.00 to $2.51................................................................... $2.50 to $2.01....................................................................... $2.00 $1.50 $1.00 $0.50 $1.51....................................................................... $1.01....................................................................... $0.51....................................................................... less........................................................................... 64 105 169 517 3 3 7 8 5 6 12 46 12 17 33 102 21 31 47 144 12 23 29 116 6 15 22 59 3 3 10 22 1 7 5 11 4 9 B an k s w ith n e t p rofits b e fo re d iv id e n d s per $100 o f to ta l assets o f — 1 $0.50 or less.......................................................................... $0.51 to $1.00....................................................................... $1.01 to $1.50....................................................................... 1,382 1.662 1,447 7 2 2 45 22 11 354 188 76 429 606 293 316 512 604 154 219 307 54 70 107 12 30 31 11 13 16 $1.51 to $2.00....................................................................... $2.01 and o v e r...................................................................... 896 1,027 2 3 2 1 30 33 135 106 271 220 265 231 126 197 44 104 21 132 B an k s w ith r a tio o f ca sh a n d d u e fr o m b an k s to to ta l assets o f — 1 Less than 10 percent............................................. ............ 10 to 20 percen t................................................................... 20 to 30 percen t................................................................... 303 2,057 2,269 1 6 15 5 38 43 26 197 261 50 525 545 97 648 678 67 391 389 24 155 193 6 57 81 27 40 64 30 to 40 p ercent....................................... ........................... 40 to 50 percen t................................................................... 50 to 60 percen t................................................................... 1,539 830 316 11 6 1 28 20 22 197 123 55 387 245 80 405 211 80 273 111 40 132 59 22 64 33 7 42 22 9 60 to 70 percen t................................................................... 70 to 80 percent .............................................................. 80 to 90 percent 100 34 6 1 6 2 1 21 9 3 25 7 19 4 2 16 5 6 5 2 4 2 1 1 2 1 235 399 436 187 274 263 136 145 137 69 59 46 93 52 39 to to to or 90 to 100 percent 100 percent B an k s w ith r a tio o f se cu ritie s to to ta l assets o f— 1 Less than 10 percent.......................................................... 10 to 20 percent....................................... .......................... 20 to 30 Dercent............................................. ................ 5 1 1,095 1,485 1,527 1 12 7 6 27 40 34 127 175 199 209 334 367 210 1 2 1 CORPORATION 41 INSURANCE 7,460 ................................................................ B an k s w ith n e t losses b e fo r e d ivid e n d s p er $100 o f to ta l assets o f — 1 DEPOSIT $0.50 or less FEDERAL $0.51 and over All b a t ik s ......... ^ 00 151 124 90 408 325 145 464 340 196 271 174 88 91 46 31 53 16 5 14 9 1 60 to 70 percent.................................................................. 70 to 80 p ercen t.................................................................. 80 to 90 percent.................................................................. 184 51 3 2 4 2 19 8 58 19 63 12 1 24 10 2 10 2 2 B anks w ith r a tio o f lo a n s to to ta l assets o f— 1 Less than 10 percent.......................................................... 10 to 20 percent.................................................................. 20 to 30 percen t.................................................................. 106 598 1,432 3 5 7 10 27 36 21 124 227 32 186 427 20 161 420 17 63 203 2 22 74 7 25 1 3 13 30 to 40 percent.................................................................. 40 to 50 percent.................................................................. 50 to 60 percent.................................................................. 2,018 1,692 1,033 9 9 7 40 20 25 226 168 79 556 377 202 607 526 275 345 322 222 140 153 125 48 79 56 47 38 42 70 percent.................................................................. 80 percent.................................................................. 90 percent.................................................................. 100 percent................................................................ 414 127 34 6 1 4 4 40 8 71 13 1 108 23 6 88 28 5 53 21 6 23 9 3 26 21 13 6 B an k s w ith ra tio o f to ta l c a p ita l a c c o u n t to to ta l assets o f— 1 Less than 10 percent...................................................... 10 to 20 percent.............................................................. 20 to 30 percent.............................................................. 1,002 4,638 1,443 2 16 10 21 85 46 161 500 185 325 1,200 282 271 1,436 373 145 823 263 51 355 145 20 133 69 6 90 70 30 to 40 percent.............................................................. 40 to 50 percent.............................................................. 50 to 60 percent.............................................................. 301 50 15 9 4 11 1 2 38 5 2 44 11 2 60 3 2 50 9 1 39 6 24 3 1 26 8 5 60 to 70 percent.............................................................. 70 to 80 percent.............................................................. 80 to 90 percen t.............................................................. 7 3 1 1 1 1 60 70 80 90 to to to to 3 2 93 130 445 1 1 2 2 2 16 8 11 58 9 33 147 27 46 142 8 31 62 9 3 14 5 2 3 24 1 1 30 to 40 percen t.............................................................. 40 to 50 percen t.............................................................. 50 to 60 percent.............................................................. 880 1,160 1,179 4 7 7 18 35 18 132 162 167 276 336 315 274 363 342 126 167 202 34 70 73 12 9 38 4 11 17 60 to 70 percent.............................................................. 70 to 80 percen t.............................................................. 80 to 90 percent.............................................................. 1,108 1,085 746 6 4 4 27 18 15 114 98 71 264 247 137 333 293 193 202 236 155 105 113 86 33 43 48 24 33 37 90 to 100 percent............................................................ 100 percent....................................................................... 399 235 3 2 12 3 46 26 61 40 88 45 62 42 62 27 36 21 29 29 1Asset and liability items are averages of end-of-month figures, BANKS B an k s w ith r a tio o f d e m a n d to to ta l d ep osits o f— 1 Less than 10 percent...................................................... 10 to 20 percent.............................................................. 20 to 30 percen t.............................................................. 1 1 1 COMMERCIAL 25 19 15 INSURED 8 5 1 OP 1,485 1,058 572 EARNINGS 30 to 40 percen t.................................................................. 40 to 50 percent....................................... ........................... 50 to 60 percent.................................................................. 00 CO 190 SUSPENSIONS, RECEIVERSHIPS AND MERGERS Table 143. N U M B E R AND DEPOSITS OF B A N K S SUSPENDING OPERATIONS, 1934-1936 GROUPED B Y YEAR, BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND B Y STATES Deposits (in thousands of dollars)1 Number Insured banks Insured banks Total Members F. R. System National State N on insured banks2 Total Total Members F. R. System National State N ot members F. R. System N on insured banks2 15,861 36,424 58,095 21,671 Calendar Y ear 193 4 193 5 193 6 822 40 48 8 3 36,937 9,852 11,306 1,952 9,005 10,714 40 5,263 507 1,912 *3,742 10,207 34,985 847 592 Banks with deposits o f $100,000 and u n d er............... $100,000 to $250,000............. $250,000 to $500,000............. *33 23 6 23 16 14 3,183 6,330 7,673 1,852 3,989 2,660 40 194 574 *1,812 3,795 2,086 1,331 2,341 5,013 4 4 1 4,310 5,107 14,376 3,568 5,107 4,495 507 3,061 5,107 4,495 135 $500,000 to $1,000,000. . . $1,000,000 to $2,000,000. $2,000,000 to $5,000,000. 76 3 2 17,116 State California. . . Connecticut. Georgia. Illinois......... Indiana. . . . I o w a ......... Kansas. .. K en tu ck y. Louisiana. M ichigan.. Minnesota. . M ississippi.. M issouri. . . . M ontana. . . Nebraska. .. 1 1 5 3 22 1 6 4 2 2 1 2 26 1 4 1 3 4 2 1 1 2 15 84 84 1,050 521 377 4,204 1,050 487 236 2,218 1,050 487 236 2,218 155 468 224 1,406 107 155 238 224 1,406 59 155 238 224 1,406 59 “ '48' 73 153 1,917 40 194 73 153 1,917 ' 1,827' 73 153 3,744 40 469 40 194 " "3 4 ' 141 1,986 230 ’ ’ 275’ CORPORATION $5,000,000 to $10,000,000. . $10,000,000 to $50,000,000. Over $50,000,000................... 9,881 17,116 INSURANCE 59 United States— to ta l. DEPOSIT 70 5,810 FEDERAL Total N ot members F. R. System 1 1 83 Pennsylvania.. South Carolina South D a k ota . Tennessee. . . . T exa s................ 1 1 2 4 5 Virginia........... W isconsin. . . . 3 6 8 2 23,883 7,059 46 2,858 572 1,769 1,769 46 2,136 561 46 1,875 3561 1 5,667 305 641 154 984 5,557 136 641 154 556 2 4 780 2,071 313 1,352 3 1 1 1 261 4,495 * ''5 0 7 ‘ 428 1,352 467 719 110 169 RECEIVERSHIPS AND MERGERS 722 11 1,062 136 134 154 556 313 1 Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of latest report date prior to date of suspension. 3 Excludes noninsured banks operating under restrictions which were placed in receivership or liquidation. 3 Includes 1 bank with deposits of $85,000 which was reopened as an insured bank. 22,114 7,059 SUSPENSIONS, New Jersey. . . New Y ork. . .. N orth D akota. O h io................. Oklahoma. . . . 192 T a b le 144. NUMBER AND DEPOSITS OF BANKS SUSPENDING OPERATIONS, 1936 GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES Deposits (in thousands of dollars)1 Number Insured banks Insured banks Total Total National Oftft to 000 000 40 3 11,306 10,714 20 10 5 1 1 1 1,091 1,677 2,213 1,042 1,562 1,785 2 3 2,280 4,045 2,280 4,045 1,050 2,149 155 170 128 1,050 2,149 155 55 128 1,050 2,149 155 55 128 1,406 153 1,547 1,120 46 1,406 153 1,498 1,120 46 1,406 153 1,498 1,120 46 1,875 641 154 712 1,875 641 154 284 41 21 11 6 20 10 5 3 3 3 3 1 7 1 2 2 1 7 1 1 2 1 7 1 1 2 2 2 14 1 1 2 2 13 1 1 2 2 13 1 1 1 3 4 3 1 3 4 2 1 Total National 507 507 State N ot members F. R. System N on insured banks2 10,207 592 1,042 1,562 1,785 49 115 428 1,773 4,045 $5 000 000 to $10 000 000 $10 000 000 to $50 000 000 S ta te Connecticut IndiEn& K&ns^s XTon fnplnr • Louisiana A/Tiaarmri \Tot« Torcjpv XTArfli Ohio South Dakota T6nn6ss66 .................................. • • ,, , 1 1 2 4 2 1 1 1 507 1 Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of latest report date prior to date of suspension. 2 Excludes 12 noninsured banks with deposits of $7,172,000 operating under restrictions which were placed in receivership or liquidation. 1,875 134 154 284 115 49 428 CORPORATION 44 Total Members F. R . System INSURANCE $1 000 000 to $2 000 000 N on insured banks2 DEPOSIT B an k s w ith d e p o sits o f — 1 nn nnn anr] iimHpf $100 000 to $250 000 $250 000 to $500 000 1 State N ot members F. R. System FEDERAL Members F. R . System T a b le 145. Desig nating number Name and location C C C January 10, 1936 December 31, 1935 February 5, 1936 February 17, 1936 February 18, 1936 February 20, 1936 February 27, 1936 February 29, 1936 March 2, 1936 March 5, 1936 March 18, 1936 March 18, 1936 March 28, 1936 March 27, 1936 March 31, 1936 March 31, 1936 April 10, 1936 April 18, 1936 April 21, 1936 April 23, 1936 M ay 9, 1936 M ay 13, 1936 M ay 14, 1936 M ay 23, 1936 M ay 28, 1936 June 5, 1936 June 5, 1936 July 10, 1936 July 15, 1936 July 16, 1936 August 14, 1936 August 14, 1936 August 31, 1936 September 12, 1936 September 17, 1936 October 9, 1936 October 27, 1936 December 7, 1936 December 5, 1936 December 5, 1936 December 12, 1936 December 18, 1936 January 21, 1936 March 6, 1936 March 20, 1936 February 28, 1936 March 6, 1936 March 5, 1936 March 9, 1936 March 9, 1936 March 21, 1936 March 19, 1936 March 31, 1936 March 30, 1936 April 14, 1936 April 10, 1936 April 17, 1936 April 13, 1936 April 22, 1936 M ay 4, 1936 M ay 6, 1936 M ay 11, 1936 M ay 23, 1936 M ay 26, 1936 M ay 27, 1936 June 29, 1936 June 13, 1936 June 19, 1936 June 22, 1936 July 18, 1936 July 30, 1936 July 29, 1936 August 25, 1936 August 27, 1936 September 14, 1936 September 25, 1936 September 28, 1936 Novem ber 10, 1936 Novem ber 2, 1936 December 18, 1936 December 18, 1936 December 18, 1936 December 18, 1936 January 5, 1937 Receiver State banking authority State banking authority State banking authority FD IC State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority FD IC State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority FD IC State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority State banking authority F D IC F D IC State banking authority State banking authority State banking authority FD IC F D IC 1 A— National bank member of the Federal Reserve System; B— State bank member of the Federal Reserve System; C— Bank not member of the Federal Reserve System. N O T E : Banks designated b y numbers 75 and 76 had not been placed in receivership on December 31, 1936. MERGERS A Date of first payment to depositors by F D IC AND c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c 1931 1918 1906 1908 1923 1904 1906 1930 1911 1913 1929 1907 1926 1929 1929 1914 1907 1905 1924 1923 1923 1914 1909 1907 1901 1919 1886 1909 1892 1915 1905 1908 1894 1880 1904 1933 1874 1923 1906 1900 1907 1898 Date of suspension RECEIVERSHIPS Citizens Bank of Erwin, Erwin, Tennessee................................. Central State Bank of Sherman, Sherman, Texas...................... Peoples Bank, Cole Camp, Missouri............................................ Merchants and Farmers Bank, Starkville, Mississippi.............. Columbia State Bank, Columbia C ity, Indiana........................ The Bank of High Hill, High Hill, Missouri.............................. Farmers Bank of Leonard, Leonard, Missouri........................... Farmers & Merchants Bank, Adams, Tennessee........ .............. Peoples Bank, Franklinton, K en tu cky........................................ Farmers and Merchants Bank of Linn, Linn, Missouri........... Benjamin State Bank, Benjamin, Texas..................................... Farmers State Bank, Amherst, South Dakota........................... The Earl Park State Bank, Earl Park, Indiana........................ Clifton State Bank, Clifton, Tennessee....................................... Leland Cooperative Bank, Leland, Iow a.................................... Bank of H olcom b, H olcom b, Mississippi.................................... Cross Plains Bank, Cross Plains, Tennessee................................ Hardin Bank, Hardin, K entucky.................................................. Farmers & Merchants Bank, Revillo, South D akota............... Guaranty Bond State Bank, Miles, Texas................................. Growers Exchange Bank, St. Joseph, Missouri......................... Ford City State Bank, Ford C ity, Missouri............................... Farmers Bank of New Truxton, New Truxton, Missouri. West Monroe State Bank, West Monroe, Louisiana................ Holton State Bank, Holton, Indiana........................................... Community Bank, Smithton, Missouri....................................... The Christian County Bank, Ozark, Missouri........................... Farmers State Bank, Densmore, Kansas.................................... D ’Auria Bank & Trust Com pany, Newark, New Jersey......... The East Hampton Bank & Trust C o., East Hampton, Conn Bank of Magnolia, Magnolia, Missouri....................................... Cumberland Bank, Cumberland, Indiana................................... Commercial Bank of Stanberry, Stanberry, Missouri.............. The Wellsville Bank, Wellsville, Missouri.................................. Farmers State Bank, Tindall, Missouri....................................... DeSoto Bank and Trust Company, Mansfield, Louisiana. The Union Bank, Uhrichsville, O hio............................................ The Union State Bank, Crothersville, Indiana.......................... Citizens State Bank, Palmyra, Indiana....................................... Scottsburg State Bank, Scottsburg, Indiana.............................. The First State Bank o f Lignite, Lignite, North Dakota. . . . The First National Bank of Centerville, Centerville, S. D . . . . Year of Class organiza of bank1 tion SUSPENSIONS, 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 77 INSURED BANKS PLACED IN RECEIVERSHIP, 1936 Table 146. A SSETS OF INSURED B a n k s PLACED IN R EC E IVE RSH IP, 1934-1936 194 AS SHOWN BY BOOKS OF BANKS AT DATES OF SUSPENSION Desig nating number Name and location T o t a l, 1934 (9 b a n k s )............................................................ T o ta l, 1935 (24 b a n k s ).......................................................... T o ta l, 1936 (42 b a n k s )......................................................... United Cash and Other States due from Government securities banks securities Banking Loans, dis Other real house, counts, and furniture estate overdrafts and fixtures $27,911,485 $4,357,949 $2,149,622 $2,278,567 $14,517,262 2,661,327 12,323,948 12,926,210 185,056 1,974,181 2,198,712 603,519 698,440 847,663 Other assets $998,120 $1,097,467 $2,512,498 273,638 510,479 1,494,450 1,329,865 6,842,116 6,345,281 79,365 459,055 459,700 120,319 242,274 734,874 69,565 1,597,403 845,530 158,803 311,755 6,515 67,480 13,664 54,395 114,410 168,902 13,099 12,860 10,944 7,273 171 845 36 37 38 39 40 Peoples Bank, Cole Camp, M issouri.................................... Merchants and Farmers Bank, Starkville, Mississippi. .. Columbia State Bank, Columbia C ity, Indiana................ The Bank of High Hill, High Hill, M issouri...................... Farmers Bank of Leonard, Leonard, Missouri................... 185,622 213,386 905,687 105,928 69,420 11,033 7,145 219,731 11,543 17,655 121,325 18,700 25,500 46,304 639 160,669 141,708 432,203 68,266 47,384 8,000 25,442 25,000 2,285 4,200 5,850 13,503 48,546 4,469 70 88 12,578 26 181 41 42 43 44 45 Farmers & Merchants Bank, Adams, Tennessee............... Peoples Bank, Franklinton, K en tu ck y................................ Farmers and Merchants Bank of Linn, Linn, Missouri. . Benjamin State Bank, Benjamin, Texas............................. Farmers State Bank, Amherst, South D a kota ................... 13,997 92,974 227.574 253^832 56,390 1,390 6,578 23,815 88,529 616 100 9,628 11,445 17,826 2,684 11,005 74,246 177,619 99,456 47,195 1,602 2,788 6,560 9,100 3.500 9,352 6,900 26,426 1,390 10 1,135 2,867 1,005 46 47 48 49 50 The Earl Park State Bank, Earl Park, Indiana................ Clifton State Bank, Clifton, Tennessee................................ Leland Cooperative Bank, Leland, I o w a ............................ Bank of H olcom b, H olcom b, M ississippi............................ Cross Plains Bank, Cross Plains, Tennessee....................... 181,196 30,266 149,997 22,719 50,433 20,175 9,914 16,652 4,884 12,060 5,000 13,828 1,231 2,949 475 3,500 137,055 16,470 101,734 15,360 31,047 4,835 500 1,700 2,000 3,826 2,000 303 151 26,962 51 52 53 54 55 Hardin Bank, Hardin, K en tu cky........................................... Farmers & Merchants Bank, Revillo, South Dakota. . .. Guaranty Bond State Bank, Miles, T exas. . . ; ................. Growers Exchange Bank, St. Joseph, M issouri................. Ford C ity State Bank, Ford C ity , Missouri....................... 71,765 128,016 202,205 53,119 61,907 767 8,151 52,074 19,199 15,805 1,100 3,700 2,075 10,450 4,319 500 62,890 89,844 94,809 26,153 42,096 1,600 8,325 12,660 6.500 3,870 2,385 1,902 37,753 948 5,644 590 167 136 56 57 58 59 60 Farmers Bank of New Truxton, N ew Truxton, Missouri W est M onroe State Bank, W est M onroe, Louisiana........ Holton State Bank, H olton, Indiana.................................... Comm unity Bank, Smithton, M issouri................................ The Christian County Bank, Ozark, Missouri................... 70,968 520,175 203,641 75,286 338,541 16,393 115,858 8,397 21,464 112,229 3,000 25,296 13,675 250 11,225 18,639 21,450 21,086 244,799 156,028 40,969 199,009 6,850 20,073 4,918 9,000 3,750 4,990 80,810 15,875 3,500 400 10 11,889 4,748 103 11,017 600 CORPORATION Citizens Bank of Erwin, Erwin, Tennessee......................... Central State Bank of Sherman, Sherman, Texas............. INSURANCE 34 35 DEPOSIT 1936 FEDERAL T o t a l, 1934-1936 (75 b a n k s ) ................................................. Total assets Farmers State Bank, Densmore, Kansas........................................ D ’ Auria Bank & Trust Company, Newark, New Jersey........... . The East Hampton Bank & Trust C o., East Hampton, Conn., Bank of Magnolia, Magnolia, Missouri......................................... . Cumberland Bank, Cumberland, Indiana..................................... 79,834 1,245,408 1,232,955 70,114 87,405 10,731 324,080 96,040 25,321 3,545 66 67 68 69 70 Commercial Bank of Stanberry, Stanberry, Missouri................ The Wellsville Bank, W ellsville, M issouri..................................... Farmers State Bank, Tindall, Missouri......................................... DeSoto Bank and Trust Com pany, Mansfield, Louisiana: The Union Bank, Uhrichsville, O h io.............................................. 172,652 325,295 69,818 1,168,561 1,906,223 67,160 30,554 14,048 209,423 71 72 73 74 77 The Union State Bank, Crothersville, Indiana............................ . Citizens State Bank, Palmyra, Indiana......................................... Scottsburg State Bank, Scottsburg, Indiana................................ The First State Bank of Lignite, Lignite, North D a kota......... . The First N ational Bank of Centerville, Centerville, S. D ........... 247,595 350,405 562,837 82,525 568,981 56,788 25,944 108,982 11,547 85,437 5,000 40,000 215 310,957 219,240 .........1,032 12,288 53,087 233,060 583,023 376,900 6,250 44,690 74,102 300 1,100 7,574 10,062 35,867 369 7,952 58,810 248,284 737,727 40,544 61,769 1,900 33,807 75,000 2,243 5,300 8,046 288,713 41,576 81,626 199,398 52,901 270,139 619,471 6,500 13,645 2,084 14,410 29,573 29,725 1,066 810 785 621,502 34,471 164,951 241,643 313,884 61,999 369,723 10,300 4,260 12,905 3,450 39,480 1,369 21,071 11,254 1,500 3,000 363 2,735 5,843 3,360 62,289 ‘ ’ 4,452 11,300 28,600 132 12,498 17,994 31 7 RECEIVERSHIPS AND MERGERS 27,069 45,378 1,975 11,300 SUSPENSIONS, 61 62 63 64 65 SO CJT Desig nating number 196 T a b le 147. LIA B IL IT IE S OF INSURED BANKS PLACED IN R EC E IVE RSH IP , 1934-1936 AS SHOWN BY BOOKS OF BANKS AT DATES OF SUSPENSION Name and location T o t a l, 1934 (9 b a n k s ) ........................................................... T o ta l, 1935 (24 b a n k s ).......................................................... T o t a l, 1936 (42 b a n k s ) ......................................................... Deposits secured and preferred Other secured liabilities Deposits not secured and not preferred $27,911,485 $1,640,861 $2,047,602 $19,945,054 2,661,327 12,323,948 12,926,210 720,235 563,529 357,097 77,630 1,826,850 143,122 1,231,757 8,136,956 10,576,341 Other unsecured liabilities R FC capital Private capital stock Other capital accounts1 *82,272 338,577 —63,933 30.000 50.000 25.000 50.000 4,676 — 7,303 50.000 40.000 10.000 7,500 25.000 15.000 60.000 10,000 7,500 12,005 887 27,938 614 2,876 10,000 15.000 7.000 42.500 5.000 — 1,091 3,409 8,352 — 2,104 2,162 2,500 5,000 25.000 12.500 25.000 10.000 15.000 7,396 — 4,704 — 30,043 — 1,154 — 1,082 9,000 50,000 16.000 20,000 50.000 3,125 2,040 — 849 — 370 2,076 1936 84 35 Citizens Bank of Erwin, Erwin, Tennessee......................... Central State Bank of Sherman, Sherman, Texas............. 158,803 311,755 22,534 4,084 72,509 219,058 36 37 38 39 40 Peoples Bank, Cole Camp, M issouri.................................... Merchants and Farmers Bank, Starkville, Mississippi. .. Columbia State Bank, Columbia C ity, Indiana................ The Bank of High Hill, High Hill, M is sou ri.................... Farmers Bank of Leonard, Leonard, Missouri................... 185,622 213,386 905,687 105,928 69,420 17.000 30.000 55,682 5,376 4,174 126,241 112,482 721,427 85,314 51,478 41 42 43 44 45 Farmers & Merchants Bank, Adam s, Tennessee............... Peoples Bank, Franklinton, K entucky. . ........... .. Farmers and Merchants Bank of Linn, Linn, Missouri. . Benjamin State Bank, Benjamin, Texas............................. Farmers State Bank, Amherst, South D akota................... 13,997 92,974 227,574 253,832 56,390 46 47 48 49 50 The Earl Park State Bank, Earl Park, Indiana................ Clifton State Bank, Clifton, Tennessee................................ Leland Cooperative Bank, Leland, Io w a ............................ Bank of H olcom b, H olcom b, M ississippi............................ Cross Plains Bank, Cross Plains, Tennessee...................... 181,196 30,266 149,997 22,719 50,433 51 52 53 54 55 Hardin Bank, Hardin, K en tu cky.......................................... Farmers & Merchants Bank, R evillo, South D akota. . .. Guaranty Bond State Bank, Miles, T exa s......................... Growers Exchange Bank, St. Joseph, M issouri................. Ford C ity State Bank, Ford C ity, M issouri....................... 71,765 128,016 202,205 53,119 61,907 56 57 58 59 60 Farmers Bank of N ew Truxton, N ew Truxton, Missouri W est Monroe State Bank, W est M onroe, Louisiana........ Holton State Bank, H olton, Indiana.................................... Comm unity Bank, Smithton, M issouri................................ The Christian C ounty Bank, Ozark, Missouri................... 70,968 520,175 203,641 75,286 338,541 5,088 74,565 197,222 167,520 41,392 13,416 3,836 133,800 22,470 155,038 11,373 31,515 11,000 7,500 52,640 78,476 103,054 43,489 49,831 53,001 410,372 171,484 49,556 296,755 843 640 15.000 32,500 4,000 15.000 5,000 45.000 10.000 5,000 25,000 10.000 5.000 12,000 50.000 15.000 20.000 10,000 5,967 14,803 7,153 730 6,786 CORPORATION 432,100 2950,000 1,069,350 INSURANCE $356,916 290.000 2223,000 788.000 27,333 285,036 56,233 DEPOSIT $368,602 $1, 101,000 $2,451,450 FEDERAL T o ta l, 1934-1936 (75 b a n k s ) ................................................. Total liabilities Farmers State Bank, Densmore, Kansas............................................ D ’ Auria Bank & Trust C om pany, Newark, New Jersey................. The East Hampton Bank & Trust C o., East Hampton, Conn.. Bank of Magnolia, Magnolia, Missouri........................................... ’ . Cumberland Bank, Cumberland, Indiana............................... ! ! ! ! ! ! 79,834 1,245,408 1,232,955 70,114 87,405 66 69 70 Commercial Bank of Stanberry, Stanberry, Missouri...................... The Wellsville Bank, Wellsville, Missouri.......................................... Farmers State Bank, Tindall, Missouri....................................... .. * ’ [ D eSoto Bank and Trust Com pany, Mansfield, L ouisiana.. ! ! ! ! ! ! The Union Bank, Uhrichsville, O h io .......................................... [ ’ ’ ’ ’ 172,652 325,295 69,818 1,168,561 1,906,223 71 72 73 74 77 The Union State Bank, Crothersville, Indiana.................................. Citizens State Bank, Palmyra, Indiana....................................... ’ ’ ]. Scottsburg State Bank, Scottsburg, Indiana...................................... The First State Bank of Lignite, Lignite, North Dakota. . . . ! ! ! ! The First National Bank of Centerville, Centerville, S. D ................ 247,595 350,405 562,837 82,525 568,981 67 68 6,000 10,328 40,000 163,629 105,660 207,194 296,805 491,370 45,605 506,644 10,000 100,000' 497 35.000 15.000 7,500 116 22,907 io6,bob’ 20.000 9,156 12.500 30.000 10.000 37.500 Minus ( - ) indicates net operating deficit. 10,000 100,000 25.000 10.000 15,000 -685 6,874 44,209 2.466 695 5,600 100,000 100,000 9.466 9,855 4,946 72,084 -297,457 11,250 25.000 25.000 15.000 50.000 9,151 16,100 16,467 2,764 -25,163 10,000 AND MERGERS 128,186 250,440 51,772 996,361 1,711,484 8,628 13,374 RECEIVERSHIPS \ j£ ec^ | s surplus’ undivided Profits, and reserve funds minus operating deficit, if any, as shown by books. 54,519 1,119,578 1,050,372 57,648 71,213 SUSPENSIONS, 61 62 63 64 65 CD T a b le 148. DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1936 REVISED TO DECEMBER 31, 1936 Name and location Total1 Insured* Secured and preferred Subject to offset Uninsured, unsecured, not preferred, and not subject to offset Restricted and deferred deposits uninsured $22,112,252 $15,210,694 $1,697,152 $1,222,119 $3,080,847 $901,440 T o t a l, 1934 (9 b a n k s )........................................................ T o t a l, 1935 (24 b a n k s ) ..................................................... T o ta l, 1936 (42 b a n k s )..................................................... 1,965,119 9,079,053 11,068,080 940,458 6,092,782 8,177,454 755,533 463,106 478,513 95,058 550,282 576,779 102,786 1,967,880 1,010,181 71,284 5,003 825,153 11,478 5,591 7,758 11,354 11,000 5,118 3,381 69,339 4,858 4,007 121,346 6,987 152 80 5,362 11,721 6,956 3,337 3,090 36,789 69,441 8,816 6,593 673 17,780 24 724 34,972 1936 95,043 219,065 66,620 211,307 36 37 38 39 40 Peoples B ank, Cole Cam p, M issouri........................... Merchants and Farmers Bank, Starkville, Mississippi. Columbia State Bank, Columbia C ity, Indiana............ The Bank of High Hill, High Hill, M issou ri................ Farmers Bank of Leonard, Leonard, M issouri.............. 143,221 142,351 775,425 92,604 51,077 118.898 113,970 528,556 80,759 46.918 41 42 43 44 45 Farmers & Merchants Bank, Adam s, Tennessee.......... Peoples Bank, Franklinton, K en tu cky. . ........... :••••; Farmers and Merchants Bank of Linn, Linn, Missouri Benjamin State Bank, Benjam in, Texas......................... Farmers State Bank, Amherst, South D a k ota .............. 5,088 74,561 198,408 180,936 58,556 5,008 66,109 149.898 104,539 42,567 46 47 48 49 50 The Earl Park State B ank, Earl Park, Indiana............ Clifton State Bank, Clifton, Tennessee........................... Leland Cooperative Bank, Leland, I o w a ........................ Bank of H olcom b, H olcom b, Mississippi........................ Cross Plains Bank, Cross Plains, Tennessee................... 133,659 22,470 155,038 11,373 31,515 122,616 16,973 99,781 11,349 30,791 51 52 53 54 55 Hardin Bank, Hardin, K en tu ck y...................................... Farmers & Merchants Bank, R evillo, South D akota. . Guaranty Bond State Bank, Miles, Texas. .. ............... Growers Exchange Bank, St. Joseph, M issouri............. Ford C ity State Bank, Ford C ity , Missouri.................. 52,504 89,476 103,058 43,489 49,831 9,751 72.919 92,365 40,995 47,942 25,000 56,184 3,836 4,824 2,505 7,088 1,220 9,469 10,693 2,494 1,889 8,205 CORPORATION Citizens Bank of Erwin, Erwin, Tennessee..................... Central State Bank of Sherman, Sherman, Texas........ INSURANCE 34 35 DEPOSIT T o t a l, 1934-1936 (75 b a n k s ) ............................................. FEDERAL Desig nating number 4,450 41,533 Farmers Bank of N ew Truxton, New Traxton, Missouri. W est M onroe State Bank, W est M onroe, Louisiana.......... Holton State Bank, H olton, Indiana...................................... Comm unity Bank, Smithton, Missouri................................. The Christian C ounty Bank, Ozark, Missouri..................... 50,809 329,125 154,365 46,259 256,807 2,192 29,459 8,741 3,297 15,350 61 62 63 64 65 Farmers State Bank, Densmore, K ansas....................................... D ’ Auria Bank & Trust C om pany, Newark, New Jersey........... The East Hampton Bank & Trust C o., East Hampton, Conn., Bank of Magnolia, M agnolia, Missouri......................................... Cumberland Bank, Cumberland, Indiana..................................... 54,522 1,118,258 1,050,371 57,631 71,265 46,578 1,010,827 876,441 54,046 68,521 3,578 25,698 48,124 3,585 2,744 66 67 69 70 Commercial Bank of Stanberry, Stanberry, Missouri........ The Wellsville Bank, Wellsville, M issouri............................ Farmers State Bank, Tindall, Missouri................................. D eSoto Bank and Trust Com pany, Mansfield, Louisiana. The Union Bank, Uhrichsville, O h io...................................... 128,185 290,440 51,772 996,234 1,991,760 120,841 234,710 46,289 200,136 1,452,259 71 72 73 74 77 The Union State B ank, Crothersville, Indiana.................... Citizens State Bank, Palmyra, Indiana................................. Scottsburg State Bank, Scottsburg, Indiana........................ The First State Bank of Lignite, Lignite, North Dakota. The First National Bank of Centerville, Centerville, S. D .. 207,184 297,328 491,359 45,605 506,469 142,554 220,016 333,909 38,504 413,827 68 40,000 264,229 48,869 3,500 SI,78ft 8,158 24,598 4,3«6 81,733125,806 7,344 15,147 4,675 14,066 118,057 583 808 3,637 157,215 18,968 19,428: 28,310 1,249 27,700 45,662 57,884 80,271 627 61,442 778,395 5,225 1 The amount of deposits given in Table 148 does not agree with the amount shown in Table 147 due to the inclusion in Table 14& of deposits subsequently discovered or reclassified. 1 Exclusive of insured portions of secured or preferred deposits. AND MERGERS 199 RECEIVERSHIPS 53,001 410,373 171,264 49,556 296,755 SUSPENSIONS, 56 57 58 59 60 to T a b le 149. PAYMENTS TO DEPOSITORS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1936 Insured deposits Number of depositors esig itin mb' § Name and location Paid by F D IC Fully paid by offset1 Unpaid Total Paid2 Unpaid 7,324 19,680 $15,210,694 $13,949,260 $1,261,434 T o t a l, 1934 (9 b a n k s ) ........................................................... T o ta l, 1935 (24 b a n k s )......................................................... T o ta l, 1936 (42 b a n k s )......................................................... 11,197 22,633 28,078 907 2,485 3,932 3,421 6,560 9,699 *940,458 *6,092,782 8,177,454 926,832 5,785,983 7,236,445 13,626 306,799 941,009 34 35 1936 Citizens Bank of Erwin, Erwin, Tennessee......................... Central State Bank of Sherman, Sherman, Texas............. 1,913 1,537 683 1,368 101 116 1,129 53 66,620 211,307 54,264 210,481 12,356 826 36 37 38 39 40 Peoples Bank, Cole Cam p, M issouri.................................... Merchants and Farmers Bank, Starkville, Mississippi. .. Columbia State Bank, Columbia C ity, Indiana................ The Bank of High Hill, High Hill, M issouri...................... Farmers Bank of Leonard, Leonard, M issouri................... 603 735 2,868 424 407 469 522 2,362 346 308 115 63 405 59 95 19 150 101 19 4 118.898 113,970 528,556 80,759 46.918 113,870 108,085 521,768 80,739 46,914 5,028 5,885 6,788 41 42 43 44 45 Farmers & Merchants Bank, Adams, Tennessee............... Peoples Bank, Franklinton, K en tu ck y.................. Farmers and Merchants Bank of Linn, Linn, Missouri. . Benjamin State Bank, Benjam in, Texas............................. Farmers State Bank, Amherst, South D a k ota ................... 76 377 895 816 256 56 238 674 435 17 73 138 127 34 254 22 5,008 66,109 149.898 104,539 42,567 5,007 65,838 149,568 103,755 42,403 1 271 330 784 164 46 47 48 49 50 The Earl Park State Bank, Earl Park, Indiana................ Clifton State Bank, Clifton, Tennessee............................... Leland Cooperative Bank, Leland, I o w a ............................ Bank of H olcom b, H olcom b, Mississippi............................ Cross Plains Bank, Cross Plains, Tennessee....................... 401 158 467 52 229 350 95 244 31 125 66 20 83 122,616 16,973 99,781 11,349 30,791 122,614 16,824 76,155 11,266 30,652 2 149 23,626 83 139 51 52 53 54 55 Hardin Bank, Hardin, K en tu cky.......................................... Farmers & Merchants Bank, R evillo, South D akota. . .. Guaranty Bond State Bank, Miles, T exa s......................... Growers Exchange Bank, St. Joseph, M issouri................. Ford C ity State Bank, Ford C ity , Missouri....................... 183 440 1,461 362 185 339 647 231 129 21 71 163 62 79 30 651 69 18 9,751 72.919 92,365 40,995 47,942 8,229 71,753 89,198 40,855 47,903 1,522 1,166 3,167 140 39 56 57 58 59 60 Farmers Bank of New Truxton, N ew Truxton, Missouri West M onroe State Bank, W est M onroe, Louisiana........ H olton State Bank, H olton, Indiana.................................... Comm unity Bank, Smithton, Missouri................................ The Christian C ounty Bank, Ozark, M issouri................... 230 1,816 701 44 153 156 74 4 141 50 23 86 50,809 329,125 154,365 46,259 256,807 50,801 289,843 153,440 46,224 242,677 39,282 925 35 14,130 200 182 1,522 495 288 608 50 42 157 1 21 100 1 21 20 4 CORPORATION 61,908 15,525 *31,678 41,709 INSURANCE 88,912 DEPOSIT T o t a l, 1934-1936 (75 b a n k s ) ................................................. FEDERAL Total Farmers State Bank, Densm ore, Kansas..................................... D ’Auria Bank & Trust Com pany, Newark, New Jersey......... The East H ampton Bank & Trust C o., East Hampton, Conn Bank of Magnolia, M agnolia, Missouri....................................... Cumberland Bank, Cumberland, Indiana................................... 227 3,330 3,607 346 657 122 2,529 2,780 280 475 52 97 184 63 69 53 704 643 3 113 46,578 1,010,827 876,441 54,046 68,521 45,466 995,233 796,512 53,902 68,174 1,112 15,594 79,929 144 347 66 67 68 69 70 Commercial Bank of Stanberry, Stanberry, Missouri.............. The Wellsville Bank, W ellsville, Missouri.................................. Farmers State Bank, Tindall, Missouri....................................... DeSoto Bank and Trust C om pany, Mansfield, Louisiana. . . . The Union Bank, Uhrichsville, O h io............................................ 740 1,128 319 1,800 6,578 556 771 211 646 4,859 125 193 86 5 217 59 164 22 1,149 1,502 120,841 234,710 46,289 200,136 1,452,259 119,848 222,655 46,216 165,231 1,371,943 993 12,055 73 34,905 80,316 71 72 73 74 77 The Union State Bank, Crothersville, Indiana.......................... Citizens State Bank, Palmyra, Indiana....................................... Scottsburg State Bank, Scottsburg, Indiana.............................. The First State Bank of Lignite, Lignite, North Dakota. . . . The First National Bank of Centerville, Centerville, S. D ....... 633 598 1,618 250 1,107 359 367 927 166 99 148 97 1 175 83 594 83 1,107 142,554 220,016 333,909 38,504 413,827 91,226 176,802 264,937 17,174 51,328 43,214 68,972 21,330 413,827 AND MERGERS 201 RECEIVERSHIPS 1 Includes all depositors whose claims have been fully paid by counterclaim, by sale of security, or directly by the receiver because of preferred status. a Includes payments made both b y the Federal Deposit Insurance Corporation and by receivers. * Revised. See note 1, Table 148. SUSPENSIONS, 61 62 63 64 65 T a b le 150. LOANS MADE TO AND ASSETS PURCHASED FROM BANKS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION AUGUST 23, 1935, TO DECEMBER 31, 1936 Name and location of bank Date of loan T o t a l (28 b a n k s )............................................................. 58,582 $21,055,660 $9,593,480 12,324 4,356,778 2,862,650 C February 4, 1936 A 1,250 February 17, 1936 C 13,150 February 17, 1936 B 11,203 3,734,418 1,551,528 February 17, 1936 A 3,707 1,729,263 729,944 March 19, 1936 C 293 79,569 19,533 March 25, 1936 c c c c c c c c c c 541 70,878 23,097 1,086 131,005 37,008 447 121,494 14,509 330 47,840 13,498 218 61,365 42,292 March 26, 1936 April 24, 1936 M ay 25, 1936 June 18, 1936 June 29, 1936 July 6, 1936 July 11, 1936 August 24, 1936 September 15, 1936 436,611 6,758,411 Union Bank and Trust Company of Bethlehem2 Bethlehem, Pennsylvania First National Bank in Clinton* Clinton, Oklahoma 52,347 2,512,569 2,290 361,387 75,000 994 235,454 107,462 554 99,326 21,372 644 124,184 11,248 1,084 149,073 25,060 T Ann Arbor Savings and Commercial Bank3 / Ann Arbor, Michigan ) The First National Bank of Bosworth Bosworth, Missouri Riley State Bank Riley, Kansas Bank of Donelson3 Donelson, Tennessee Citizens Bank Norborne, Missouri West Plains Bank West Plains, Missouri Crawford County State Bank Robinson, Illinois Columbus Trust Co. Newark, New Jersey Dixie State Bank W alton, Kentucky The First National Bank of Sarcoxie Sarcoxie, Missouri Lewistown State Bank Lewistown, Missouri The Peoples National Bank of Kingfisher Kingfisher, Oklahoma CORPORATION November 16, 1935 Successor bank INSURANCE Loans made and assets purchased DEPOSIT E. P. W ilbur Trust Company Bethlehem, Pennsylvania....................................... The First National Bank of Clinton Clinton, Oklahom a................................................... The Ann Arbor Savings Bank Ann Arbor, M ichigan.............................................. Farmers & Mechanics Bank Ann Arbor, M ichigan.............................................. The First National Bank and Trust Company Ann Arbor, M ichigan.............................................. Citizens Bank of Bosworth Bosworth, M issouri.................................................. The Farmers State Bank Riley, Kansas............................................................ Donelson Bank & Trust Co. Donelson, Tennessee................................................ Norborne Trust Company Norborne, M issouri.................................................. Koshkonong State Bank Koshkonong, M issouri............................................. The Peoples State Bank of Flat R ock Flat Rock, Illinois.................................................... Central Bank and Trust Company Newark, N ew Jersey................................................ The W alton Equitable Bank Walton, K en tu ck y.................................................... The State Bank of Sarcoxie Sarcoxie, M issouri.................................................... Durham State Bank Durham, M issouri.................................................... The Security Bank Kingfisher, Oklahom a.............................................. Total deposits Number of accounts FEDERAL Class of bank1 October 3, 1936 C 747 153,243 38,696 December 1, 1936 C 925 317,062 203,497 December 7, 1936 December 19, 1936 December 19, 1936 December 19, 1936 December 21, 1936 December 21, 1936 December 21, 1936 December 21, 1936 December 21, 1936 780 74,937 28,651 754 478,763 482,821 2,106 762,675 269,366 1,062 360,340 238,245 297 83,852 56,552 118 43,344 30,100 620 100,343 59,463 500 76,001 23,076 117 29,832 10,245 441 78,212 53,651 -Bank not member of the Federal Reserve System. MERGERS 203 State Bank of Shelley Shelley, Minnesota Peoples State Bank Parshall, North Dakota AND 1 A — National bank member of the Federal Reserve System; B— State bank member of the Federal Reserve System; C * N ewly organized bank. 8 Continued in operation as a noninsured trust company not accepting deposits. ^American State Bank of Minot* ' M inot, North Dakota RECEIVERSHIPS December 21, 1936 C c c c c c c c c c Farmers Bank of Stover Stover, Missouri The Cambria State Bank Cambria, Wisconsin The Thomas County National Bank of Colby Colby, Kansas The Dakota National Bank of Fargo Fargo, North Dakota American State Bank of Williston* Williston, North Dakota SUSPENSIONS, Stover Bank Stover, M issouri........................................................ Bank of Cambria Cambria, W iscon sin ............................................... The Brewster State Bank Brewster, K a n sa s.................................................... Northern and Dakota Trust C om pany8 Fargo, North D a k o ta .............................................. The First International Bank of Williston Williston, North D a k o ta ........................................ First International Bank M inot, N orth D a k o ta ............................................. Bank of Berthold Berthold, North D a k ota ......................................... First State Bank Coteau, N orth D a k o ta ............................................ First State Bank of Max M ax, N orth D a k o ta ................................................ First State Bank of Powers Lake Powers Lake, N orth D a k ota ................................. The Cummings State Bank Cummings, N orth D a k o ta ..................................... Reservation State Bank M akoti, North D a k ota ........................................... INDEX INDEX Absorptions. See Mergers and consolidations. Pages Accounts insured, M ay 13, 1936. See Number of accounts. Actions of Federal Deposit Insurance Corporation. S ee Federal Deposit Insurance Corporation. Additional offices. S ee Number of branches or additional offices. Administrative expenses of Federal Deposit Insurance Corporation....34, 35, 37 Admissions to insurance: Applications approved and disapproved................................................. 20, 21 B y class and character of bank.................................................20, 21, 2 2 ,1 0 2 -0 4 Number during 1936............................................................................. 22, 4 7 ,1 0 2 -0 4 Policy of Corporation regarding................................................................. 21 -2 3 Advertising by insured banks, Regulation III and resolutions regard ing..................................................................................................31, 8 2 -8 6 Amendment of deposit insurance law..................................................................31 -3 2, 81 Applications for reduction or retirement of capital obligations of banks. See Capital of banks. Applications of banks for admission to insurance. See Admissions to insurance. Assessments: Adequacy of ................................................................................................ 28 -2 9, 35, 38 Rate and amount................................................................................................... 34 Rules relating to payment by banks whose insured status has terminated .................................................................................. 31, 92 Assets and liabilities of banks: A ll commercial banks: Changes during 1936............................................................................. 4 8 -4 9 December 31, 1935, June 30, 1936, and December 31, 1936 134 Factors in growth of deposits and assets................................ 4 8 -4 9 Insured commercial banks: A t beginning and close of year........................................................ 48 Call dates, 1934-36.................................................................................. 136-38 December 31, 1935, June 30, 1936, and December 31, 1936 134 Insured commercial banks not members of the Federal Reserve System : Call dates, June 30, 1934, to December 31, 1936.................... 139-41 Grouped according to amount of deposits......14 2-47 , 16 9,17 1, 173 Grouped by number of commercial banking offices in center ......................................................................................... 1 7 9 ,1 8 1 Grouped by population of center in which located............. 1 7 5 ,1 7 7 Grouped by rate of net earnings on total assets.................. 18 3 ,1 8 5 Mutual savings banks......................................................................................... 6 0 ,1 3 5 Noninsured banks .............................................................................................. 1 3 4,13 5 Assets and liabilities of the Federal Deposit Insurance Corporation.... 36 Assets, examiners’ analysis of, insured commercial banks not members of the Federal Reserve System grouped by amount of deposits and by States: Appraised values: Loss, doubtful, slow, not criticized.................... 152-59 Ratios of loss and doubtful items to book values...................................160-61 Substandard assets................................................................... 1 9 -2 0 , 5 0 -5 1 ,1 5 2 -5 9 Assets of banks purchased by Federal Deposit Insurance Corporation. See Loans to insolvent insured banks. Assumption of uninsured deposits.............................................................................. 29 -3 0 Balance sheet of the Federal Deposit Insurance Corporation.................... 34, 36 Bank examinations. See Examinations of banks. Banking developments, summary o f........................................................................... 4 3 -6 1 Banking offices, establishment of ( see also Banks operating more than one office; Banks beginning operations; Number of banking offices).................................................................... 22 -2 3 Banking practices ( see also U nsafe and unsound banking practices).... 16 -2 0 Bank management (see also Banking practices)...................................1 6 ,1 8 ,3 8 -3 9 207 20 8 FEDERAL DEPOSIT INSURANCE CORPORATION Page Banks beginning operations...................................................................... 2 1 -2 2 , 45, 47, 102 Banks ceasing operations........................................................................ 24, 45, 4 7 ,1 0 2 ,1 0 4 Banks operating more than one office ( see also Number of branches or additional offices; Number of operating banks; Number of operating banking offices) : Establishment of branches or additional offices:..................7, 43 -4 5, 22 -2 3 Applications approved or disapproved.......................................... 24, 25 Changes during 1936............................................................................. 45 Number of banks establishing branches grouped by class 26 of bank and by amount of total capital account........ Policy of Corporation with regard to............................................ 25 Board of Directors of the Federal Deposit Insurance Corporation........ 6, 33 Board of Governors of the Federal Reserve System, review by Cor poration of examinations of State banks members of the Federal Reserve System made by.................... 8 ,1 3 ,14 Branch banks. See Banks operating more than one office. Branches. See Banks operating more than one office; Number of branches or additional offices. Capital of banks ( see also Assets and liabilities of banks; Earnings, expenses, and disposition of p r o fits): Changes during 1936.......................................................................................26 -2 9 , 51 Noninsured banks ..............................................................................................134,13 5 Policy of Corporation regarding..................................................... 22, 25, 27 -2 9 Reductions and retirements approved by the Federal Deposit Insurance Corporation ........................................................7, 2 6 -2 7 Sound capital ...................................................................... 15, 2 7 -2 9 , 5 2 -5 5 ,1 4 8 -5 1 Supplied by the Reconstruction Finance Corporation ................................................... 11, 26, 54 -5 5, 162-63 Total capital account of insured commercial banks: Call dates, June 30, 1934, to December 31, 1936.................... 136-38 Changes during 1936............................................................................. 51 December 31, 1935, to December 31, 1936................................... 134 Relation to deposits and assets................................................... 28, 51-52 Capital of the Federal Deposit Insurance Corporation................................... 36 Certificates of beneficial interest............................................................................... 27, 29 Changes during 1936 in number and deposits of operating banks. See Deposits; Number of operating banks. Chartering of banks............................................................................................................ 21, 23 Classification of banks and banking offices................................................... 9 7 -9 9 ,1 2 4 Closed banks. See Receivership, insured banks placed in ; Suspensions. Committee on standardization of call report form s....................................... 30 Commercial banks. See Assets and liabilities of banks; Capital of banks; Deposits; Earnings, expenses, and disposi tion of profits; Number of operating banks. Commercial banking offices. See Number of operating banking offices. Common stock. See Capital of banks. Comptroller of the Currency: Chartering of national banks by.................................................................... 21 Director of Corporation.................................................................................... 6 Review by Corporation of examinations of insured national banks made by...........................................................................8 ,1 3 ,1 4 Condition reports: Committee on standardization o f................................................................. 30 Publication of ....................................................................................................... 8 ,1 5 Required by Corporation.................................................................................. 8, 30 Consolidations and mergers. See Mergers and consolidations. Credit institutions, competition among and supervision o f........................... 23 Defalcation ............................................................................................................................. 16 Demand deposits. See Deposits. Deposit insurance, participation in.............................................. 4 5 -4 7 ,1 0 5 -1 3 ,1 2 5 -2 7 Deposit insurance national banks................................................................................ 9, 98 Depositors. See Number of depositors. Depositors’ claims against closed insured banks. S ee Receivership, insured banks placed in. INDEX 209 D eposits: Pa^e Assumption of by other banks.............................................................7, 2 9 -3 0 , 92 Classified by type of deposit............................................................... 7 0 -7 1 , 72 -7 3 Definition, for assessment purposes............................................................. 124 D em and: Am ount ( see also Assets and liabilities)................................ 71, 73, 74 Definition of .............................................................................................. 86 Prohibition of interest on.............................................................8 7 -8 8 , 90 Growth o f: Between M ay 13, 1933, and M ay 13, 1936..................................... 75 During 1936 ..................................................................................46 -4 7, 48 -4 9 Insured. See Insured deposits. Interbank ( see also Assets and liabilities)................................ 4 9 ,7 0 ,7 1 ,7 3 Interest on. See Interest. Note regarding........................................................................................................ 124 O f all banks, 1936................................................................................................ 125-27 O f all commercial banks................................................................. 46, 1 2 8 -3 1 ,1 3 4 O f all insured banks: Daily average during 1936................................................................. 125-27 M ay 13, 1936.............................................................................................. 66 Of all mutual savings banks.................................................1 2 5 -2 7 ,1 3 2 -3 3 ,1 3 5 O f banks establishing branches during 1936............................................ 26 O f banks grouped b y: Amount o f deposits ( see also Assets and liabilities) ............................................ 67, 76, 7 7 ,1 2 5 ,1 2 8 -3 3 ,1 4 8 Class of bank..............................................................................................125-27 States and possessions.....................................69, 7 6 -7 7 ,1 2 6 -3 3 ,1 4 8 -4 9 O f banks merged with aid of loans or purchase of assets by the Corporation ...........................................................................10, 202-03 O f banks operating more than one office................................................... 125 O f insured banks in receivership.....................................8 -9 ,1 9 0 -9 2 ,1 9 8 -2 0 1 O f insured commercial banks: Call dates, 1934-36.................................................................................. 137 Daily average during 1936................................................................. 125-31 December 31, 1935, June 30, 1936, and December 31, 1936.. 134 December 31, 1935, and December 31, 1936.........................4 6 -4 7 , 48 M ay 13, 1936.............................................................................................. 6 5 -7 5 O f insured commercial banks not members of the Federal Reserve System : A t time of latest examination, 1936............................................ 148-49 Call dates, 1934-36.............................................. :.................................. 140-41 Daily average during 1936................................................................. 125-27 December 31, 1936, banks grouped by amount of deposits ............................................................................. 1 4 3 ,1 4 5 ,1 4 7 M ay 13, 1936........................................................................................... 69 O f insured mutual savings banks: Daily average during 1936.............................................. 1 2 5 -2 7 ,1 3 2 -3 3 December 31, 1935, June 30, 1936, and December 31, 1936.. 135 M ay 13, 1936.............................................................................................. 76 -7 7 O f noninsured banks: December 31, 1935, June 30, 1936, and December 31, 1936 ..............................................................................................13 4,13 5 December 31, 1936, banks grouped by class, type of office, amount of deposits, and by States and possessions..125-33 O f suspended banks ( see also Receivership, insured banks placed i n )............................................................................. 8 -9 ,1 9 0 -9 2 O f unit banks.......................................................................................................... 125 Paid and unpaid in closed insured banks..........................................8 -9 , 200-01 Payments of, to insured depositors. See Receivership, insured banks placed in. Postal savings deposits ( see also Assets and liabilities).................. 7 1 ,7 3 Preferred and secured ( see also Receivership, insured banks placed i n ) ...................................................................... 7 1 -7 2 ,1 3 8 ,1 4 1 Public funds ( see also Assets and liabilities)....................................... 7 1 ,7 3 210 FEDERAL DEPOSIT INSURANCE CORPORATION Deposits:— Continued, Page Release of restricted deposits,...-.................................. ,........................... 29* Reports o f, as of M ay 13, 1936..... ............. ............................. ,.3 0 ,6 5 -7 7 ,9 3 -9 4 Savings and time deposits ; Amount of ( see also A ssets and liabilities ) ......................71, 7&, 74 Conditions of withdrawal o f...,........ 89* Definitions of .............................. ,.... ................ ................................... 86-47Interest paid on (see also Earnings, expenses, and dis position of profits)...... ............................................. 59 Loans on ...................................................................................................., 89 Regulation of interest on, and of conditions of with drawal o f ....................................................................................... 88 -9 1 Subject to offset. See Receivership, insured banks placed in. Uninsured. S ee Uninsured deposits. Disposition of profits. See Earnings, expenses, and disposition of profits. Dividends. See Earnings, expenses, and disposition of profits. Dividends to depositors. S ee Receivership, insured banks placed in. Dividends received by Corporation from closed insured banks.................. 13 Division of Examination. See Examinations of banks. Doubtful assets. ( See also Assets, examiners* analysis o f ) ....................... 4 9 -5 0 Earnings, expenses, and disposition of profits: Insured commercial banks................................................................. 5 5 -5 9 ,1 6 4 -6 5 Insured commercial banks not members of the Federal Reserve System, calendar years 1934, 1935, 1936.................... 166-67 Insured commercial banks not members of the Federal Reserve System operating throughout entire year 19 36 :.... 57-59 Grouped according to number of commercial banking offices in center in which located....................................... 178-81 Grouped according to population of center................................ 174-77 Grouped according to rate of net earnings on total assets.. 182-85 Grouped by amount of deposits..................................................... 16 8-73 Number of, grouped according to rate of net current operating earnings, rate of net profits, amount of deposits, population of center and number of com mercial banking offices in center.....................................18 6-87 Number of, grouped according to rate of net current operating earnings, rate of net profits, and by significant balance sheet ratios....................................... 18 8-89 Insured mutual savings banks...................................................................... 60, 61 Reports o f................................................................................................................. 30 Emblem of the Federal Deposit Insurance Corporation, approved for advertising .................................................................................. 84 Employees, Federal Deposit Insurance Corporation.......................................... 33 Examination, Division of. See Examinations of banks. Examinations of banks (see also Assets, examiners’ analysis o f; Cap ital of b a n k s ): Cost of ........................................................................................................................ 35 In connection with loans to and purchase of assets of insured banks .......................................................... ................................... 14 Number of, 1936..................................................................................................... 7 ,1 4 Policy and program.............................................................................................. 13 -1 4 Purposes o f.............................................................................................................. 14 -1 6 Reports, revision of form o f............................................................................. 14 Review of reports of examinations made by the Comptroller of the Currency and Board of Governors of the Federal Reserve System........................................................ 8 ,1 3 Examiners, appointment and duties......................................................................... 1 4 ,1 6 Expenses. See Earnings, expenses, and disposition of profits. Expenses of the Federal Deposit Insurance Corporation.............................. 37 Failures. See Suspensions; Receivership, insured banks placed in. Federal Deposit Insurance Corporation: Actions by regarding: Applications of banks for admission to insurance.................. 20 Assumption of deposit liabilities................................................... 29, 30 INDEX 211 Federal Deposit Insurance Corporation:— Continued. Page Actions by regarding:— Continued. Branch banking .................................................................................... 24 Capital of insured banks...............................................................15, 26 -2 7 Loans and purchase of assets to facilitate mergers........... 12 U nsafe and unsound banking practices................................ 1 5 ,1 7 -1 8 Balance sheet o f..................................................................................................... 34, 36 Board of Directors o f......................................................................................... 6, 33 Call upon insured banks for report of deposits as of M ay 13, 1936 .................................................................................... 3 0 ,6 5 ,9 3 -9 4 Capital and surplus o f................................................................................35, 36, 37 Divisions and committees o f........................................................................... 6, 33 Employees and officers o f................................................................................ 33 -3 4 Examinations of banks by................................................................................ 13 -1 6 Functions o f............................................................................................................ 7 -8 Income and expenses o f................................................................................34 -3 5 , 37 Investments o f.......................................................................................................... 35, 36 Loan power, extension o f............................................................................. 31 -3 2, 81 Loans to insured banks by.............................................................9 -1 2 , 32, 20 2-03 Losses incurred ..................................................................................................... 10, 34 Officers and employees o f.................................................................................. 33 -3 4 Operations of .......................................................................................................... 7 -3 9 Organization and staff o f................................................................................6, 33 -3 4 Payments to insured depositors by..........................................8, 35, 193, 200-01 Policies of .......................................................................................2 2 -2 3 , 25 -2 6, 27 -2 9 Powers of ................................................................................................................. 7 -8 Purchase of assets of insolvent banks by..............................9 -1 2 , 32, 20 2-03 Receiver for insured banks, appointment as...................................1 2 -1 3 ,1 9 3 Recoveries on subrogated claims by............................................................. 13, 35 Regulations and rulings o f.........................................................................31, 82 -9 2 Report to insured banks as of June 30, 1936, and December 31, 1936, by ......................................................................................... 35 Supervision of insured banks by.................................................................... 23 Federal Reserve Banks, review by corporation of examinations of State banks members of the Federal Reserve System made by.......................................................................................... 1 3 ,1 4 Insolvent banks ( see also Loans to insured banks; Mergers and con solidations; Purchase of assets; Receivership, in sured banks placed in; Suspensions)................................ 8 -1 2 Insurance coverage. S ee Insured deposits. Insurance of deposits, pamphlet entitled................................................................. 30, 65 Insured banks. S ee: Admissions to insurance; Advertising by insured banks; Assets and liabilities of banks; Assets, examiners’ analysis o f; Bank management; Banking practices; Banks operating more than one office; Capital o f banks; Chartering o f banks; Classification of banks and banking offices; Deposits; Earnings, expenses, and disposition of profits; Examinations of banks: Loans to insolvent insured banks; Mergers and consolidations; Number of operating banking offices; Number o f operating banks; Number of branches or additional offices; Receivership, insured banks placed in; Regulations and rulings; Suspensions; Terminations of insurance. 212 FEDERAL DEPOSIT INSURANCE CORPORATION Page Insured banks placed in receivership. See Receivership, insured banks placed in. Insured commercial banks ( see also Insured banks) : Analysis of deposits o f........................................................................................ 65 -7 5 Developments during 1936 affecting............................................................ 4 5 -5 9 Insured commercial banks not members of the Federal Reserve System ( see also Insured b an k s)..........................................4 9 -5 1 ,5 2 -5 9 Insured deposits ( see also Insured banks; Number of a cco u n ts): Amount o f............................................................................ 7, 66-67, 69, 70-71, 74, 76 Maximum coverage for a depositor............................................................ 7, 65, 70 O f commercial banks by type of deposit................................................... 71 O f commercial banks grouped by: Amount of deposits................................................................................. 67 Class of bank............................................................................................. 69 States and possessions........................................................................... 69 O f insolvent banks merged with aid of loans by Corporation...... 10 O f mutual savings banks................................................................................... 76 -7 7 O f suspended banks................................................................... 8, 9, 198-99, 200-01 Insured mutual savings banks ( see also Insured b a n k s)..................6 0 -6 1 ,7 6 -7 7 Insured State banks members of the Federal Reserve System. See Insured banks. Interbank deposits. S ee Deposits. Interest: On deposits: Rate o f............................................................................................................ 59 Regulation o f Corporation regarding............................................ 86-91 On loans and securities, rate of, 1934-36................................................... 59 Instructions for preparing Form 89, Summary of Deposits, M ay 13, 1936.................................................................................................... 93 Investments. See Assets and liabilities of banks; Unsafe and unsound banking practices. Investments of the Federal Deposit Insurance Corporation. See Federal Deposit Insurance Corporation. Law, deposit insurance, amendment o f.................................................................31-32, 81 Law, State, regarding deposit insurance................................................................. 32-33 Liquidation, Division o f.................................................................................................... 33 Liquidation, loans, and purchase o f assets, committee on.............................. 33 Liquidations of banks. See Receivership, insured banks placed in. Loans. See Assets and liabilities; Assets, examiners’ analysis; Unsafe and unsound banking practices; Loans to insolvent insured banks. Loans and securities. See Assets and liabilities. Loans to insolvent insured banks: By Federal Deposit Insurance Corporation: Amount o f........................................................................................9 ,1 0 , 202-03 Action of Corporation regarding.................................................. 9 ,1 1 ,1 2 Committee on.............................................................................................. 33 Extension of power to make..........................................................31-32, 81 Loss to Corporation on.......................................................................... 10 Name and class of banks to which made.....................................20 2-03 B y Reconstruction Finance Corporation................................................... 10 ,11 Location of insured banks, changes of approved by the Federal Deposit Insurance Corporation.............................................................. 30 Losses of the Federal Deposit Insurance Corporation. See Federal Deposit Insurance Corporation. Mergers and consolidations: Assumption of deposit liabilities.............................................................. 10, 29, 30 Deposits of banks m erging............................................................................... 10 During 1936........................................................................................................ 4 5 ,1 0 2 -0 4 Loans and purchase of assets by Corporation to aid............. 9 -1 2 , 20 2-03 O f insolvent insured banks................................................................... 9 -1 2 ,1 0 2 -0 3 Morris Plan banks, classification o f.......................................................................... 97, 98 M utual savings banks ( see also Insured b a n k s ): A ssets and liabilities............................................................................................. 135 INDEX 213 Page Classification o f....................................................................................................... 97 Deposits ..............................................................................................66, 125-27, 132-33 Number ...........................................................................................101, 1 0 4 -1 1 3 ,1 1 8 -1 9 National banks. See Comptroller of the Currency; Insured banks. New banks. See Banks beginning operations. Noninsured banks. S ee: A ssets and liabilities o f banks; Capital of banks; Classification of banks and banking offices; Deposits; Mergers and consolidations; Number of operating banking offices; Number o f operating banks; Number of branches or additional offices; Suspensions; Uninsured deposits. Number o f accounts: In banks to which the Corporation has made loans........................... 203-04 In insured commercial banks, M ay 13, 1936: Grouped by amount of deposits....................................................... 66 Grouped by size of account................................................................. 66-71 Grouped by States and possessions................................................ 68 Grouped by type of deposit................................................................. 70-72 In insured mutual savings banks, M ay 13, 1936.................................. 66, 76 Number o f banks operating more than one office: According to location of branches or additional offices............. 4 4 ,1 2 0 -2 1 B y class o f bank..................................................................................................... 105-11 Number o f branches or additional offices: By class of bank and by type of office in each State and in the possessions ....................................................................................105-11 Changes during 1936.............................................................................................45 ,1 0 3 December 31, 1935, and December 31, 1936.............................................. 100-01 Number of operating banking offices: A ll offices...........................................................................................................10 0,10 5-11 By amount of deposits........................................................................................ 122 B y class of bank....................................................................................................105-11 B y number of commercial banking offices in center in which located.............................................................................................. 123 By population of center in which located.......................................4 3 ,1 2 2 ,1 2 3 By States and possessions...............................................................................105-11 B y type of office.......................................................................... 44, 1 0 5 -1 1 ,1 2 2 ,1 2 3 Changes during 1936......................................................................................4 5 ,1 0 2 -0 4 Classification .............................................................................................................. 97-99 Commercial .......................................................................4 3 -4 5 ,1 0 0 ,1 0 2 -0 3 ,1 2 2 -2 3 In su red ..................................................................................................... 1 0 0 -0 4 ,1 2 2 ,1 2 3 Mutual savings...................................................................................................... 101,104 Noninsured ................................................................................................................100-04 Revision of 1935 figures...................................................................................... 98-99 Number of operating banks: A ll banks...........................................................................................................1 0 0 ,1 0 5 -1 2 A ll commercial banks.................................................................4 6 ,1 0 0 ,1 0 2 ,1 0 5 -1 7 A ll mutual savings banks..............................................1 0 1 ,1 0 4 -1 3 ,1 1 8 -1 9 ,1 3 5 B y amount of deposits......................................................................................... 66, 76 By class of bank.................................................................................... 6 8 ,1 0 0 ,1 0 5 -1 3 By number of commercial banking offices in center in which located ............................................................................................. 123 B y population of center in which located................................................ 122-23 B y States and possessions................................................................... 68, 7 6 ,1 0 5 -1 1 B y type o f office.............................................................................................1 0 5 -1 1 ,1 2 3 Changes during 1936......................................................................................4 5 ,1 0 2 -0 4 Classification ............................................................................................................ 97-99 Insured commercial banks: Call dates, 1934-36.................................................................................. 136 214 FEDERAL DEPOSIT INSURANCE CORPORATION Page Number of operating banks:— Continued. Changes during 1936...............................................................4 4 -4 6 ,1 0 2 -0 3 December 31, 1935, and December 31, 1936........................... 1 0 0,102 December 31, 1935, June 30, 1936, and December 31, 1936 134 December 31, 1936................................................................... 1 0 5 -1 7 ,1 2 2 -2 3 For which earnings statements are tabulated.........................164-65 May 13, 1936............................................................................................... 6 6 ,68 Revision of 1935 figures...................................................................... 98 Insured commercial banks not members of the Federal Reserve System : Call dates, 1934-36.................................................................................. 139 Changes during 1936...............................................................................102-03 December 31, 1935, and December 31, 1936........................... 100,10 2 December 31, 1936................................................................................... 105-13 Examined during 1936........................................................................ 148-49 M ay 13, 1936............................................................................................... 68 Operating throughout 1936.........................57, 58, 5 9 ,1 8 6 ,1 8 7 , 188-89 Revision of 1935 figures...................................................................... 98 Insured mutual savings banks: Changes during 1936............................................................................... 104 December 31, 1935, and December 31, 1936........................... 101,104 December 31, 1935, June 30, 1936, and December 31, 1936 135 December 31, 1936................................................................. 1 0 5 -1 3 ,1 1 8 -1 9 M ay 13, 1936............................................................................................... 76 Noninsured banks: December 31, 1935, and December 31, 1936............... 4 5 -4 6 ,1 0 0 -0 4 December 31, 1935, June 30, 1936, and December 31, 1936...................................................................134,135 December 31, 1936................................................................................... 105-19 Revision of 1935 figures...................................................................................... 98-99 Suspending operations, insured and noninsured, 1934-36..................190-92 Unit banks......................................................................................1 0 0 ,1 0 1 ,1 0 5 -1 1 ,1 2 3 Officers and employees of the Federal Deposit Insurance Corporation.... 33-34 Operating banks. See Number of operating banks. Operations of the Federal Deposit Insurance Corporation........................... 7 -39 Participation in deposit insurance............................................................................... 4 5 -4 7 Payments to depositors in closed insured banks. See Receivership, insured banks placed in. Postal savings deposits. See Deposits. Postal savings system, accounts in insured banks.......................................... 72 Preferred deposits. See Deposits. Preferred stock. See Capital of banks. Profits. S ee Earnings, expenses, and disposition of profits. Protection to depositors. See Insured deposits; Preferred and secured deposits. Public funds. See Deposits. Purchase of assets. See Loans to insolvent insured banks. Receivership, insured banks placed in: A ssets and liabilities of, at date of suspension, 1934-36..................194-97 By class of bank...................................................................................................... 190-93 Deposits: Insured, otherwise protected, paid and unpaid............... 8, 9, 200-01 Insured, secured, preferred, subject to offset........ 198-99, 200-01 O f banks grouped by class, by amount of deposits and by States......................................................................................... 19 0-92 Uninsured, unsecured, not preferred and not subject to offset ................................................................................................ 198-99 Depositors: Date of first payment to..................................................................... 193 Number fully protected, paid and unpaid..............................8, 200-01 Payments to....................................................................................... 8 -9 , 200-01 Liquidation of assets o f...................................................................................... 12 Nam e and location of, during 1936............................................................... 193 INDEX 215 Page Receivers, names o f........................................................................................ 1 2 -1 3 ,1 9 3 Recoveries by Corporation on subrogated claims against................ 13 Year o f organization o f...................................................................................... 193 Reconstruction Finance Corporation: Investment in capital of banks: Am ount ................................................................................... 26, 5 4 -5 5 ,1 6 2 -6 3 Retirements ................................................................................................ 163 Loans to facilitate mergers and consolidations..................................... 10-11 Regulations and rulings: Advertising by insured banks..................................................................... 31, 82 -8 6 Interest on deposits...........................................................................................31, 86-91 Payment of assessments by banks whose insured status has terminated ................................................................................................... 31, 92 Savings and time deposits. See Deposits. Savings bank defined........................................................................................................... 90 Secured deposits. See Deposits. Securities. S ee Assets and liabilities of banks. Sign, official, of the Federal Deposit Insurance Corporation for adver tising purposes.............................................................................. 82 Sound banking situation, conditions for maintenance o f.............................. 38, 39 State banks members of the Federal Reserve System. See Insured banks. State banks not members of the Federal Reserve System. S ee Insured banks; Noninsured banks. State bank supervisory authorities, banks cited to....................................... 1 7 ,1 8 State legislation regarding deposit insurance...................................................... 3 2 -3 3 Substandard securities. See Assets, examiners’ analysis o f ; Banking practices. Supervision of banks ( see also Banking practices)....................................... 23 Suspensions ......................................................................................... 8 ,1 2 ,1 6 , 45, 4 7 ,1 9 0 -9 2 Terminations of insurance: For unsafe and unsound banking practices............................................... 16 -1 9 Number of ..........................................................................................................17, 24, 47 Uninsured deposits: Assumption of by insured banks.................... ............................................... 29 -3 0 O f banks in receivership................................................................................9 ,1 9 8 -9 9 On M ay 13, 1936..................................................................................................... 65 -7 7 U nit banks. See Insured banks; Banks operating more than one office; Deposits; Number of operating banking offices; Number of operating banks. United States Government obligations (see also Assets and liabilities of banksj : Held by banks, as a factor in growth o f deposits................................ 49 Held by Federal Deposit Insurance Corporation................................ 35 U nsafe and unsound banking practices: Action of Corporation.................................................................................... 1 5 ,1 6 -1 7 Number of banks cited to supervisory authorities........................... 1 7 ,1 8 Types of, for which banks were cited.......................................................... 17-19 Unsecured deposits. See Receivership, insured banks placed in. Violations of law or regulations ( see also Banking practices).................. 16 -1 8 Worthless assets. ( See also Assets, examiners’ analysis o f ) .................... 4 9 -5 0
@FedFRASER