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ANNUAL REPORT
OF THE
FEDERAL DEPOSIT INSURANCE CORPORATION
FOR THE YEAR ENDED
DECEMBER 31, 1940
DIRECTORS
of the
FEDERAL DEPOSIT INSURANCE CORPORATION
L eo T . C r o w l e y
Chairman
P h il l ip s L e e G o l d s b o r o u g h
P reston D elan o
Comptroller of the Currency
LETTER OF TRANSMITTAL
F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t i o n ,
Washington, D . C., August 15, 19^1.
SIR: Pursuant to the provisions of subsection (r) of section
12B of the Federal Reserve Act, as amended, the Federal Deposit
Insurance Corporation has the honor to submit its annual report.
Respectfully,
L e o T . C r o w le y ,
T h e P r e s id e n t
T he Speak er
of
of
the
the
H
Senate
ouse
of
R e p r e s e n t a t iv e s
Chairman.
CONTENTS
Page
I n t r o d u c t i o n a n d s u m m a r y ......................................................
...
3
D e p o s it i n s u r a n c e a n d t h e b a n k i n g s y s t e m ............................................................
P le d g e o f assets to secu re b a n k o b lig a t io n s ..............................................................
In s u ra n ce or g u a ra n ty o f b a n k o b lig a t io n s ...............................................................
B a n k s u p e r v is io n ....................................................................................................................
T h e ro le o f F e d e ra l in su ra n ce o f d e p o s it s ..................................................................
D e p o s it in su ra n ce an d b a n k s u p e r v is io n ....................................................................
9
9
9
10
11
11
P r o t e c t io n o f d e p o s i t o r s ......................................................................................................
P r o t e c tio n o f d e p o s ito r s in in su red b a n k s .................................................................
M e th o d o f p r o v id in g in s u ra n ce p r o t e c t i o n ................................................................
P ro c e d u r e fo r p ro v id in g in s u ra n ce p r o t e c t io n .........................................................
L osse s an d r e co v e rie s o f th e C o r p o r a t io n ..................................................................
R e c e iv e r s h ip a c tiv itie s o f th e C o r p o r a t io n ...............................................................
13
13
15
16
17
18
S u p e r v i s o r y a c t iv it ie s o f t h e C o r p o r a t i o n .............................................................
A c tio n s re g a rd in g b a n k s in an u n s o u n d c o n d it io n ................................................
U n s a fe an d u n s o u n d b a n k in g p r a c t ic e s ......................................................................
B a n k e x a m in a t io n s ................................................................................................................
A d m is s io n s to a n d te rm in a tio n s o f in s u r a n c e ..........................................................
E s ta b lis h m e n t o f b r a n c h e s ................................................................................................
C a p ita l a d ju s tm e n ts o f b a n k s .........................................................................................
A p p r o v a l o f a s s u m p tio n o r release o f d e p o s it s ........................................................
R e p o r t s fr o m b a n k s ..............................................................................................................
18
19
20
22
23
23
23
24
24
L e g is l a t io n d u r in g 1940 a f f e c t i n g d e p o s it i n s u r a n c e .....................................
F e d e ra l le g is la t io n ..................................................................................................................
S ta te le g isla tio n d ir e c tly a ffe c tin g th e o p e ra tio n s o f th e C o r p o r a t io n . . . .
S ta te le g isla tio n re la tin g t o b a n k s u p e r v is io n ..........................................................
25
25
25
26
O p e r a t in g s t a t e m e n t o f t h e C o r p o r a t i o n ...............................................................
O rg a n iz a tio n an d s t a f f .................................................................................................... ....
I n c o m e an d e x p e n s e s ............................................................................................................
C la im s h e ld b y C o r p o r a t io n ag a in st su sp e n d e d a n d m e rg e d b a n k s .............
A sse ts an d lia b ilit ie s .............................................................................................................
A u d i t ............................................................................................................................................
27
27
28
29
31
31
P A R T ONE
O P E R A T IO N S A N D P O L IC IE S O F T H E
C O R P O R A T IO N
PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
C o m m e r c ia l b a n k i n g o f f i c e s .................................................................................... 37
Banking offices in operation............................................................................ .......37
Insured banks........................................................................................................... 37
A s s e t s a n d l i a b i l i t i e s o f in s u r e d c o m m e r c ia l b a n k s ................................. ....... 38
Changes in assets and liabilities during 1940....................................................... 39
Analysis of loans............................................................................................... ....... 40
Instalment consumer loans..................................................................................... 40
Distribution of assets....................................................................................... ....... 42
C o n d it i o n o f i n s u r e d c o m m e r c ia l b a n k s ....................................................... ....... 43
Analysis of assets.............................................................................................. ....... 43
Analysis of capital accounts............................................................................ ....... 45
V
Vi
FEDERAL DEPOSIT INSURANCE CORPORATION
Trends of earnings and expenses.....................................................................
Rates of earnings and expenses.......................................................................
Net earnings and net profits...........................................................................
Net charge-offs..................................................................................................
Dividends...........................................................................................................
Page
47
48
50
51
52
55
I n s u r e d m u t u a l s a v in g s b a n k s .........................................................................................
56
E a r n in g s o f i n s u r e d c o m m e r c ia l b a n k s .........................................................
PART THREE
LOSSES ON ASSETS OF COMMERCIAL BANKS, 1865-1940
L o sses on a s s e t s ......................................................................................................................... ......... 61
Amount and distribution of losses........................................................................ 61
Losses not covered by the estimate............................................................... ....... 64
Concentration of losses during crisis periods.........................................................64
Rates of loss during post-crisis and wartime periods................................... ....... 65
Losses by years, 1921-1940......................................................................................65
D e p o s it o r s ’ l o s s e s .............................................................................................................................. 65
Amount of depositors* losses and stockholders’ assessments...................... ....... 66
Rates of loss during crisis and post-crisis periods....................................... ....... 67
1865-1940.
70
Methods of estimation..................................................................................... ........70
Losses published or reported by Federal bank supervisory authorities. . .
70
Losses estimated from sample data....................................................................... 72
Losses estimated from data for other periods or groups of banks............. ....... 72
Reliability of estimates.................................................................................... ........73
Total deposits in operating banks.................................................................. ....... 73
M e t h o d of e s t im a t in g l o sses o n a ss e t s of c o m m er c ia l b a n k s ,
PART FOUR
LEGISLATION
L e g i s l a t i o n r e l a t i n g t o in s u r e d b a n k s .........................................................
Amendment to Federal statute concerning robbery of a bank..................
77
77
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
E x p l a n a t o r y n o t e s ...................................................................................................................
Sources of data..................................................................................................
Classification of banks and banking offices...................................................
Population of center and number of offices...................................................
Deposits of banks and banking offices...........................................................
Banks examined by, and submitting reports to, the Federal Deposit
Insurance Corporation.................................................................................
Assets and liabilities of operating banks.......................................................
Analysis of examinations of insured commercial banks...............................
Earnings, expenses, and disposition of profits of insured commercial banks.
Suspensions, receiverships, and mergers........................................................
81
81
81
83
83
84
84
85
88
90
N u m b e r , o f b a n k in g o f f ic e s — e n d - o f - y e a r ................................................................
92
N u m b e r o f b a n k in g o f f ic e s — m i d y e a r .........................................................................
110
D e p o s it s o f b a n k in g o f f i c e s ..............................................................................................
128
A s s e t s a n d l i a b i l i t i e s o f o p e r a t in g b a n k s ...............................................................
140
A n a l y s is o f e x a m in a t i o n s o f in s u r e d c o m m e r c ia l b a n k s ................................
160
A n a l y s is o f e x a m in a t i o n s o f in s u r e d c o m m e r c ia l b a n k s e x a m i n e d
b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t i o n ...........................................
186
CONTENTS
v ii
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 .........................................................
Page
190
E a r n in g s o f i n s u r e d b a n k s s u b m it t in g r e p o r t s t o t h e F e d e r a l D e p o s it
I n s u r a n c e C o r p o r a t i o n ..................................................................................
204
S u s p e n s io n s , r e c e i v e r s h i p s , a n d m e r g e r s ......................................................
222
S u p e r v i s o r y a c t io n s b y t h e C o r p o r a t i o n ......................................................
240
LIST OF CHARTS
Organization chart of the Federal Deposit Insurance Corporation.................
A.
5
Principal assets of insured commercial banks, call dates, 1934-1940........
39
B.
Percentage distribution of assets— all commercial banks, 1919-1940....
42
C.
Current operating earnings of insured commercial banks, calendar years,
1934-1940.........................................................................................................
48
D.
Current operating expenses of insured commercial banks, calendar years,
1934-1940.........................................................................................................
49
E.
Charge-offs and recoveries of insured commercial banks, calendar years,
1934-1940.........................................................................................................
53
LIST OF TABLES
Page
PART ONE
OPERATIONS AND POLICIES OF THE CORPORATION
P r o t e c t io n o f d e p o s i t o r s :
1.
2.
3.
4.
5.
6.
Losses and disbursements in insured banks in financial difficulties,
1934-1940...............................................................................................
Depositors’ recoveries and losses in insured banks in financial diffi
culties, 1934-1940..................................................................................
Disbursements of the Corporation in connection with banks in
financial difficulties, 1934-1940...........................................................
Deposits protected in insured banks in financial difficulties, 19341940.........................................................................................................
Payment of deposits of insured banks placed in receivership, 19341940 ........................................................................................................
Repayments to the Corporation as of December 31, 1940, of dis
bursements in insured banks in financial difficulties.......................
14
14
15
16
17
18
Su p e r v is o r y a c t iv it ie s o f t h e c o r p o r a t io n :
7.
8.
Action to terminate insured status of banks charged with engaging
in unsafe or unsound practices or violations of law or regulations,
1936-1940 ...............................................................................................
Unsafe or unsound banking practices and violations of law or
regulations charged against 19 banks by the Corporation during
1940 ........................................................................................................
20
21
O p e r a t in g s t a t e m e n t of t h e C o r p o r a t io n :
9.
10.
11.
12.
13.
Officers and employees of the Corporation, December 31, 1940. ..
Income and expenses of the Corporation since beginning operations
Income and expenses of the Federal Deposit Insurance Corporation,
calendar year 1940................................................................................
Comparative balance sheet of the Federal Deposit Insurance
Corporation, December 31, 1940, and December 31, 1939.............
Auditors’ report.....................................................................................
27
28
29
30
31
PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
C o m m e r c ia l b a n k i n g o f f i c e s :
14.
Number of commercial banking offices in the United States and
possessions, December 31, 1940, and December 31, 1939...............
37
15.
Percentage of commercial banking offices in operation belonging
to branch banking systems, June 29, 1940
In centers grouped according to population and number of banking
offices in center...................................................................................
38
A s s e t s a n d l i a b i l i t i e s o f in s u r e d c o m m e r c ia l b a n k s :
16.
17.
Assets and liabilities of operating insured commercial banks,
December 31, 1940, and December 30, 1939.....................................
Percentage distribution of assets and liabilities, 1920, 1929, 1937,
and 1940
All operating commercial banks in the United States and possessions
viii
40
43
LIST OF TABLES
ix
Page
C o n d it i o n o f in s u r e d c o m m e r c ia l b a n k s :
18.
19.
Appraisal of assets of insured commercial banks examined in 1940.
Percentage distribution of number and deposits of insured com
mercial banks, examinations in 1940 and 1939
Banks grouped by fixed and substandard assets ratio.....................
20.
Percentage distribution of number and deposits of insured com
mercial banks, examinations in 1940 and 1939
Banks grouped by net sound capital ratio........................................
Substandard asset and net sound capital ratios, examinations in 1940
Insured commercial banks grouped by amount of deposits..............
21.
44
45
46
47
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 :
22.
23.
24.
25.
26.
27.
28.
Earnings, expenses, and dividends of insured commercial banks,
1934-1940 ...............................................................................................
Rates of income received and interest paid by insured commercial
banks, 1934-1940 ..................................................................................
Rates of net earnings and net profits of insured commercial banks,
1934-1940...............................................................................................
Percentage distribution of insured commercial banks according to
rates of net earnings on total capital accounts, 1938-1940.............
Percentage distribution of insured commercial banks according to
rates of net profits on total capital accounts, 1938-1940.................
Charge-offs and recoveries of insured commercial banks, 1937-1940
Rates of dividends of insured commercial banks, 1934-1940..........
48
50
51
52
52
54
55
PART THREE
LOSSES ON ASSETS OF COMMERCIAL BANKS, 1865-1940
L osses on a s s e t s :
29.
30.
31.
Estimated losses on assets of commercial banks, 1865-1940........... .
Estimated losses on assets of commercial banks, 1865-1940, by
selected periods.............................. .......................................................
Estimated rates of loss on assets of commercial banks, 1865-1940,
for selected periods...............................................................................
62
62
63
D e p o s it o r s ’ l o s s e s :
32.
33.
34.
Estimated net charge-offs in operating commercial banks and losses
to depositors in closed commercial banks, 1921-1940, by y e a rs...
Estimated losses to depositors and assessments collected from
stockholders in commercial banks closed because of financial diffi
culties, 1865-1940................................................................. ...............
66
68
Estimated rates of loss to depositors and of assessments collected
from stockholders in commercial banks closed because of financial
difficulties, 1865-1940..........................................................................
69
1865-1940:
Distribution of estimated losses on assets of commercial banks,
1865-1940, by method of estimation..................................................
71
M e t h o d o f e s t im a t in g l o s s e s o n a s s e t s o f c o m m e r c ia l b a n k s ,
35.
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
N u m b e r o f b a n k in g o f f ic e s — e n d - o f - y e a r :
101.
Number and classification of operating banking offices, December
31, 1935-1940........................................................................................
92
X
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
N u m b e r o f b a n k i n g o f f ic e s — e n d - o f - y e a r — C o n t in u e d :
102.
A n a ly s is o f ch a n g e s in n u m b e r a n d cla ssifica tio n o f o p e ra tin g b a n k
in g o ffice s in th e U n ite d S ta te s an d p ossession s d u rin g 1940..........
94
103.
N u m b e r o f o p e ra tin g b a n k in g o ffices, D e c e m b e r
31, 1940
Grouped according to insurance status and class of bank and by
type of office in each State and possession........................................
96
A n a ly s is o f a d m issio n s t o a n d te rm in a tio n s o f in s u ra n ce in e a ch
class o f b a n k , 1934-1940.......................................................................
104
104.
N u m b e r o f b a n k i n g o f f ic e s — m i d y e a r :
105.
N u m b e r o f o p e ra tin g b a n k in g o ffices, Ju n e
29, 1940
Grouped according to insurance status and class of bank and by
type of office and amount of deposits.................................................
106.
N u m b e r o f o p e ra tin g b a n k s, Ju n e
110
29, 1940
Grouped according to insurance status and class of bank and by
type of bank and amount of deposits.................................................
107.
N u m b e r o f o p e ra tin g b a n k s, Ju n e
112
29, 1940
Grouped according to insurance status and class of bank in each
State and in the possessions...............................................................
108.
N u m b e r o f o p e ra tin g b a n k in g o ffices o f c o m m e r cia l b a n k s, Ju n e
114
29, 1940
Grouped according to amount of deposits and by type of office and
population of center in which located................................................
109.
N u m b e r o f o p e ra tin g b a n k in g o ffices o f c o m m e r cia l b a n k s, Ju n e
29,1940
Grouped according to number of commercial banking offices in center
in which located and by type of office and population of center in
which located.......................................................................................
118
29, 1940
Grouped according to amount of deposits and by insurance status in
each State and in the possessions......................................................
120
110.
N u m b e r o f o p e r a tin g c o m m e r cia l b a n k s, Ju n e
111.
N u m b e r o f c o m m e r cia l b a n k s o p e ra tin g b r a n ch e s a n d n u m b e r o f
b r a n ch e s, Ju n e 29, 1940
112.
116
Banks operating branches grouped according to character of branch
system and branches grouped according to location of branch and by
population of center in which located and State...............................
124
29, 1940
Grouped according to amount of deposits and by insurance status
in each State.......................................................................................
126
N u m b e r o f o p e ra tin g m u tu a l sa v in g s b a n k s, J u n e
D e p o s it s o f b a n k i n g o f f i c e s :
113.
D e p o s its o f o p e r a tin g b a n k in g o ffices, Ju n e
114.
D e p o s its o f o p e r a tin g b a n k s, Ju n e
115.
D e p o s its o f o p e r a tin g b a n k s, Ju n e
116.
D e p o sits , o f o p e ra tin g c o m m e r cia l b a n k s, Ju n e
117.
29, 1940
Offices grouped according to insurance status and class of bank and
by type of office and amount of deposits...........................................
128
29, 1940
Banks grouped according to insurance status and class of bank and
by type of bank and amount of deposits...........................................
130
29, 1940
Banks grouped according to insurance status and class of bank in
each State and in the possessions......................................................
132
29, 1940
Banks grouped according to amount of deposits and by insurance
status in each State and in the possessions.......................................
134
29, 1940
Banks grouped according to amount of deposits and by insurance
status in each State.............................................................................
138
D e p o s its o f o p e ra tin g m u tu a l sa v in g s b a n k s , Ju n e
LIST OF TABLES
xi
Page
A s s e t s a n d l i a b i l i t i e s o f o p e r a t in g b a n k s :
118.
119.
120.
121.
122.
123.
124.
Summary of assets and liabilities of operating banks in the United
States and possessions, 19 35-1 940
Banks grouped by insurance status and type of bank......................
Assets and liabilities of operating insured commercial banks, call
dates 1 9 3 4 -1 9 4 0 ........................................................................................................
Classes of securities held by operating insured commercial banks,
call dates 1 9 3 4 -1 9 4 0 ...............................................................................................
Assets and liabilities of operating insured commercial banks not
members of the Federal Reserve System, call dates 1 9 3 4 -1 9 4 0 .. . .
Assets and liabilities of operating insured commercial banks sub
mitting reports to the Federal Deposit Insurance Corporation,
December 31, 1940
Banks grouped according to amount of deposits..............................
Averages per bank of assets and liabilities of operating insured
commercial banks submitting reports to the Federal Deposit In
surance Corporation, December 31, 1940
Banks grouped according to amount of deposits..............................
Percentage distribution of principal asset and liability items of
operating insured commercial banks submitting reports to the
Federal Deposit Insurance Corporation, December 31, 1940
Banks grouped according to amount of deposits..............................
140
144
148
150
154
156
158
A n a l y s i s o f e x a m i n a t i o n s o f in s u r e d c o m m e r c ia l b a n k s :
125.
126.
Analysis of capital and liabilities of insured commercial banks
examined in 1940
Banks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate of average net earnings, and amount of deposits. . .
Net sound capital ratios of insured commercial banks examined in
160
1940
127.
128.
Banks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate of average net earnings, and amount of deposits. . .
Analysis of capital and liabilities of insured commercial banks
examined in 1940
Banks grouped by Federal Deposit Insurance Corporation District
and State.............................................................................................
Net sound capital ratios of insured commercial banks examined in
162
164
1940
129.
130.
131.
132.
133.
134.
Banks grouped by Federal Deposit Insurance Corporation District
and State.............................................................................................
Appraisal of assets of insured commercial banks examined in 1940
Banks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate of average net earnings, and amount of deposits. ..
Asset ratios of insured commercial banks examined in 1940
Banks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate of average net earnings, and amount of deposits. ..
Appraisal of assets of insured commercial banks examined in 1940
Banks grouped by Federal Deposit Insurance Corporation District
and State.............................................................................................
Asset ratios of insured commercial banks examined in 1940
Banks grouped by Federal Deposit Insurance Corporation District
and State........................................................................... .................
Distribution of insured commercial banks examined in. 1940 ac
cording to net sound capital ratio
Banks grouped by fixed and substandard assets ratio, rate of average
net earnings, and amount of deposits...............................................
Distribution of deposits of insured commercial banks examined in
1940 according to net sound capital ratio
Banks grouped by fixed and substandard assets ratio, rate of average
net earnings, and amount of deposits...............................................
166
168
172
176
180
184
185
xii
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
A n a l y s is o f e x a m i n a t i o n s o f in s u r e d c o m m e r c ia l b a n k s e x a m i n e d b y
t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t i o n :
135.
Net sound capital ratios of insured commercial banks examined by
the Federal Deposit Insurance Corporation, 19 33-1 940
Banks grouped according to amount of deposits..............................
186
136.
Total asset ratios of insured commercial banks examined by the
Federal Deposit Insurance Corporation, 1933-1 940
Banks grouped according to amount of deposits..............................
187
137.
Loan ratios of insured commercial banks examined by the Federal
Deposit Insurance Corporation, 19 34-1 940
Banks grouped according to amount of deposits..............................
188
138.
Asset ratios of insured commercial banks examined by the Federal
Deposit Insurance Corporation, 1940
Banks grouped according to amount of deposits..............................
189
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 :
139.
Earnings, expenses, and dividends of insured commercial banks,
1 9 3 4 -1 9 4 0 .....................................................................................................................
190
140.
Ratios of earnings, expenses, and dividends of insured commercial
banks, 1 9 3 4 -1 9 4 0 .....................................................................................................
192
141.
Earnings, expenses, and dividends of insured commercial banks,
1940
By class of bank.................................................................................
194
142.
Distribution of insured commercial banks according to rate of net
earnings, 1940
Banks grouped by amount of deposits, population of center in which
located, and number of commercial banking offices in center in which
located.................................................................................................
196
143.
Distribution of insured commercial banks according to rate of net
profits, 1940
Banks grouped by amount of deposits, population of center in which
located, and number of commercial banking offices in center in which
located.................................................................................................
197
144.
Distribution of insured commercial banks according to rate of net
earnings and by rate of net profits, 1 9 4 0 ....................................................
198
145.
Distribution of insured commercial banks according to rate of
income on loans, 1940
Banks grouped by amount of deposits, population of center in which
located, and rate of net earnings.......................................................
199
146.
Distribution of insured commercial banks according to rate of
income on loans, 1940
Banks grouped by ratio of loans to total assets and ratio of time and
savings deposits to total deposits.......................................................
200
147.
Distribution of insured commercial banks according to ratio of
loans to total assets, 1940
Banks grouped by amount of deposits, population of center in which
located, and rate of net earnings...................................................
201
148.
Distribution of insured commercial banks according to rate of
interest paid on time and savings deposits, 1940
Banks grouped by amount of deposits, population of center in which
located, and rate of net earnings........................................................
202
149.
Distribution of insured commercial banks according to ratio of
time and savings deposits to total deposits, 1940
Banks grouped by rate of interest paid on time and savings deposits,
rate of net earnings, and ratio of loans to total assets......................
203
LIST OF TABLES
xiii
Page
E a r n in g s o f i n s u r e d b a n k s s u b m it t in g r e p o r t s t o t h e F e d e r a l D e p o s it
I n su r a n c e C o r p o r a t io n :
150.
151.
152.
153.
154.
155.
156.
157.
158.
Earnings, expenses, and disposition of profits of insured commercial
banks submitting reports to the Federal Deposit Insurance Corpo
ration, 1 9 3 4 -1 9 4 0 .....................................................................................................
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks submitting reports to the Federal Deposit In
surance Corporation, 1 9 3 4 -1 9 4 0 .......................................................................
Earnings, expenses, and disposition of profits of insured commercial
banks submitting reports to the Federal Deposit Insurance Corpo
ration, 1940
Banks grouped according to amount of deposits..............................
Averages per bank of earnings, expenses, and disposition of profits
of insured commercial banks submitting reports to the Federal
Deposit Insurance Corporation, 1940
Banks grouped according to amount of deposits..............................
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks submitting reports to the Federal Deposit In
surance Corporation, 1940
Banks grouped according to amount of deposits..............................
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks submitting reports to the Federal Deposit In
surance Corporation, 1940
Banks grouped according to population of center in which located.
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks submitting reports to the Federal Deposit In
surance Corporation, 1940
Banks grouped according to rate of net earnings..............................
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks submitting reports to the Federal Deposit In
surance Corporation, 1940
Banks grouped according to rate of income on loans.......................
Earnings, expenses, and disposition of profits of insured mutual
savings banks, 1 9 3 4 -1 9 4 0 ................................................................................
204
206
20 8
210
212
21 4
216
218
220
S u s p e n s io n s , r e c e i v e r s h i p s , a n d m e r g e r s :
159.
Number and deposits of banks which suspended operations, 1 9 3 4 1940
160.
161.
162.
163.
Grouped according to class of bank and by year, amount of deposits,
and State.............................................................................................
Number and deposits of and disbursements to insured banks
merged with the financial aid of the Federal Deposit Insurance
Corporation, 19 35-1 940
Grouped according to class of bank and by year, amount of deposits,
and State.............................................................................................
Number and deposits of insured banks placed in receivership or
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1 9 34-1 940
Grouped according to class of bank and by year, amount of deposits,
and State.............................................................................................
Number and deposits of banks which suspended operations, 1940
Grouped according to class of bank and by amount of deposits and
State.....................................................................................................
Number and deposits of and disbursements to insured banks
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1940
Grouped according to class of bank and by amount of deposits and
State.....................................................................................................
222
22 4
226
228
229
xiv
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
S u s p e n s io n s , r e c e i v e r s h i p s , a n d m e r g e r s —Continued:
164.
165.
166.
167.
168.
169.
170.
171.
Number and deposits of insured banks placed in receivership or
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1940
Grouped according to class of bank and by amount of deposits and
State.....................................................................................................
Accounts and deposits of and disbursements to insured banks
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1935-1940........................................................................
Assets purchased by the Federal Deposit Insurance Corporation to
facilitate completion of liquidation of insured banks in receivership,
1939-1940
As shown by books of FDIC, December 31, 191+0............................
List of insured banks placed in receivership, 1940...........................
Assets of insured banks placed in receivership, 1934-1940
As shown by books of bank at date of suspension............................
Liabilities of insured banks placed in receivership, 1934-1940
As shown by books of bank at date of suspension............................
Deposits of insured banks placed in receivership, 1934-1940
As shown by books of FDIC, December 31, 191+0............................
Payments to depositors of insured banks placed in receivership,
1934-1940
As shown by books of FDIC, December 31, 191+0............................
230
232
234
235
236
237
238
239
S u p e r v i s o r y a c t io n s b y t h e C o r p o r a t i o n :
172.
173.
174.
175.
176.
Actions by the Federal Deposit Insurance Corporation upon appli
cations from banks not members of the Federal Reserve System for
admission to insurance, approval of establishment of branches,
and approval of change of location of banking offices, August 23,
1935, to December 31, 1940.................................................................
Actions by the Federal Deposit Insurance Corporation upon appli
cations regarding capital and other financial adjustments, August
23, 1935, to December 31, 1940..........................................................
Amounts involved in actions by the Federal Deposit Insurance
Corporation upon applications regarding capital and other financial
adjustments, August 23, 1935, to December 31, 1940.....................
Action to terminate insured status of banks for engaging in unsafe
or unsound banking practices or violations of law or regulations,
August 23, 1935, to December 31, 1940.............................................
246
Unsafe or unsound banking practices and violations of law or
regulations upon which action to terminate insured status was
started against 97 insured banks, August 23,1935, to December 31,
1940.........................................................................................................
247
240
242
244
INTRODUCTION AND SUMMARY
I ntroduction
and
Summary
The Federal Deposit Insurance Corporation was created in 1933
and, since January 1, 1934, has been protecting depositors in more
than 13,000 banks.
In 355 banks in financial difficulties, the Corporation has protected
depositors from loss by paying off insured claims or by putting up cash
to cover depreciated assets and thus permit merger of the banks with
sound banks. More than 1 million depositors in the 355 banks have
been protected from the loss of any part of their deposits and, for the
most part, from serious interruption in the use of their funds. Less
than 5,000 of the depositors who filed claims against these banks will
suffer any loss at all. Losses of these depositors will amount to about
$3 million, or seven-tenths of 1 percent of the $439 million of deposits
in these banks, about one-thirtieth of the average rate of loss borne by
depositors in banks which failed during the 70 years preceding deposit
insurance. The Corporation's losses are estimated at 15 times the
total amount borne by the depositors in the 355 insured banks, or
10 percent of deposits.
In numerous other weak or hazardous banks which have been in
financial difficulties the Corporation has protected depositors from
loss through prompt supervisory action which has corrected the
situations before losses have actually been incurred.
The Corporation's losses and operating expenses have approximated
income from investments, permitting the accumulation as surplus of
practically all of the assessments paid in by banks. On December 31,
1940, the capital and surplus of the Corporation amounted to $496
million, an increase of $207 million over the original capital of $289
million with which the Corporation started.
The banking situation has improved considerably over the past
seven years, and the loans and securities of the banks are probably of
higher average quality than ever before in our history. The favorable
aspects of the situation and the satisfactory operating experience to
date of the Federal Deposit Insurance Corporation, however, should
not be permitted to obscure the existence of undesirable tendencies
which may threaten the soundness of our banking system. The
capital ratios of the banks are low. At the year's close the net sound
capital of the banks averaged not more than 9 percent of total assets.1
1 For the most part the low capital ratios are in the larger banks; from one-fifth to one-fourth of
the banks had capital ratios below 9 or 10 percent, but these banks held two-thirds of the deposits of
all insured commercial banks. The average capital ratio of banks with deposits of more than $10,000,000
each was not in excess of 8.5 percent.
3
4
FEDERAL DEPOSIT INSURANCE CORPORATION
Some banks continue to show unsatisfactory asset positions and
undesirable management practices. Where problem cases exist the
Corporation is making every effort to work out corrective programs.
The Corporation's experience reveals the necessity for extension
and further clarification of the Corporation's supervisory authority to
provide greater assurance of achievement of the objectives of deposit
insurance.
The place of deposit insurance in the American banking system and
the operating results of the deposit insurance system are discussed in
Part One of this report. Banking developments are discussed in Part
Two. A special report dealing with losses in banks over a period of
76 years is presented in Part Three. Federal legislation during 1940
affecting deposit insurance is published in Part Four. Part Five
contains comprehensive statistics relating to banks and deposit in
surance.
FEDERAL DEPOSIT INSURANCE CORPORATION
PART ONE
OPERATIONS AND POLICIES OF THE CORPORATION
D e p o s it I n s u r a n c e
and
the
B a n k in g Sy s t e m
The history of American banking has been characterized by a high
rate of bank failures and a consequent search for methods to avoid
failures and to secure the safety of funds of depositors. Prior to 1865
successive waves of bank failures occurred in such numbers as to affect
seriously the fortunes of bank depositors and note holders and the
economic stability of the nation. From 1865 to 1933, approximately
19,000 banks failed with losses to depositors estimated at more than
$2 billion.1
These failures and the losses attendant thereon have led to repeated
efforts to obtain greater safety and security in the relations of custo
mers with their banks. For the most part the efforts have involved
one or more of the following: pledge of specific assets against particu
lar liabilities, insurance or guaranty of bank obligations, provision of
facilities to improve the liquidity of banks, and public supervision of
banks.
Pledge of assets to secure bank obligations. In many States,
prior to the establishment of the national banking system, provision
was made for the pledge of assets to secure the safety of circulating
bank notes. In national banks, circulating notes were secured by
pledge of assets and cash and, in addition, by the guaranty of the
Federal Government. During the latter part of the nineteenth
century, with the increasing importance of deposits as the means of
making payments and with the growing complexity of business
relationships, the effect of bank failures upon the economic system
became more serious and additional efforts were made to obtain
security for depositors. The practice developed of pledging assets
to assure the safety of the funds of individual depositors. Banks
were subsequently required to discontinue the practice, however,
except in the case of government deposits and of special trust funds,
since the giving of preference to one depositor over another was con
sidered contrary to public policy.2
Insurance or guaranty of bank obligations. The public de
mand for protection of creditors of banks in the State banking systems
prior to the Civil War led to the establishment of safety funds or
mutual guaranty plans in six States.3 These insurance or guaranty
plans met with varying degrees of success. The Michigan plan had
1 See Part Three, pages 61 to 70.
* As of December 31, 1940, operating insured commercial banks reported approximately 8 percent
of their deposits to be protected b y pledge of assets or by legal preference.
* New York in 1829; Vermont in 1831; Indiana in 1834; Michigan in 1836; Ohio in 1845; Iowa
in 1858. All debts were covered in Vermont, Indiana, and M ichigan;only circulating notes were covered
in Ohio and Iowa. In New Y ork all debts were covered from 1829 to 1842 and only circulating notes
thereafter.
9
10
FEDERAL DEPOSIT INSURANCE CORPORATION
only a limited applicability and was unsuccessful. The New York
and Vermont funds were partially successful, meeting nearly all claims.
The New York and Vermont systems went out of existence with the
termination of the charters of the banks involved. The plans in
Indiana, Ohio, and IowTa were coupled with excellent supervisory
systems and were successful; their operation was discontinued only
when the member institutions were converted into national banks
following the prohibitive Federal tax upon State bank note issues.
Later, when deposits became a more important part of the liabilities
of the banks and the State bank systems again became important, the
pressure for guaranty or insurance of bank obligations was renewed,
resulting in the introduction of many proposals for deposit insurance
in State legislatures and in the Federal Congress. In the Federal
Congress more than 125 bills were introduced between 1880 and 1933
providing for the insurance or guaranty of bank deposits. During
the period, 1907-1917, deposit guaranty funds were established in
eight States.1 Except in Texas, these systems ultimately became
insolvent.
The failure of the State deposit guaranty systems may be attributed
primarily to the three defects listed below.
(1) Inadequate distribution of risk. In each system the
banks were located within a single State. In addition, the
States which instituted deposit insurance were primarily
agricultural States exposed to the unusual vicissitudes and
heavy bank casualties characteristic of agricultural regions
during the 1920’s.
(2) Inadequate authority to establish and maintain con
ditions of admission to insurance, and inadequate powers and
standards of supervision. As a consequence the principle of
adverse selection applied; the weaker banks joined the system
and the better banks refrained from joining, or withdrew.
(3) Financial resources inadequate for the nature of the
risks assumed.
Bank supervision. Among the nations which have or have had
systems of free business enterprise, the United States has been unique
with respect to the degree of detailed bank supervision practiced. In
a rapidly growing banking system with large numbers of units operat
ing under diverse economic circumstances, wide variations in operating
results and in standards of banking practice were inevitable. These
variations, combined with the numerous bank failures which accom
panied our recurring business depressions, led to popular demand for
1 Oklahoma in 1907; Kansas, Nebraska, and Texas in 1909; Mississippi in 1914; South Dakota
in 1915; North Dakota and Washington in 1917.
DEPOSIT INSURANCE AND THE BANKING SYSTEM
11
greater public supervision. Rules and requirements were developed
to avoid the growth or continuance of unsound practices and to protect
bank creditors. To these rules have been added others to enforce
public policy with respect to competitive practices and concentration
of control. Historically, however, rules and regulations have been
conceived, for the most part, in the interest of protecting creditors,
now chiefly depositors, of banks.
Banking reforms following the panics of 1893 and 1907 resulted, in
addition to the creation of deposit insurance or guaranty systems in
eight States, in the further development and extension of bank super
vision and in the creation of improved facilities for translating bank
assets into cash, thus providing increased liquidity to meet customers'
demands. Notwithstanding these reforms bank failures occurred
during the 1920's and early 1930's in such numbers and proportions
and involved such heavy losses to depositors and such deflation as to
threaten the stability of the entire economic structure. The demand
for further security for bank depositors led to the creation in 1933 of
the Federal system of deposit insurance, following the collapse of the
banking system in the spring of that year.
The role of Federal insurance of deposits. Federal insurance
of deposits was established to protect individual depositors from loss
through bank suspensions, to prevent runs, and, through avoidance
of runs and fear of runs, to lessen the pressure upon banks for liqui
dation of assets under adverse circumstances, and to provide for
prompt payment of depositors' funds in the banks which do fail.
Through the contribution of the Federal Government to the Corpo
ration's capital funds and through a system of regular assessment upon
all insured banks, losses are distributed over the entire banking system
and the nation. Prior to 1934 these losses were borne in the first
instance by individual communities and by persons in those communi
ties, but their economic repercussions adversely affected the entire
nation.
In the banks insured by the Federal Deposit Insurance Corporation
which have closed or have been merged because of financial difficulties,
depositors' losses will amount to seven-tenths of 1 percent of total
deposits. These losses compare with an average loss of more than
20 percent borne by depositors in the banks which failed during the
70 years preceding deposit insurance. More than 13,000 banks
located throughout the country, holding 86 percent of the deposits of
all banks, are insured with the Federal Deposit Insurance Corporation.
The present insurance limit of $5,000 protects more than 98 percent
of the depositors in insured banks from any loss whatsoever.
Deposit insurance and bank supervision. Establishment of
the insurance system has not been accompanied by any change in the
12
FEDERAL DEPOSIT INSURANCE CORPORATION
fundamental objective of bank supervision. Protection of creditors of
banks has continued to be the chief purpose of supervision. Relatively
few depositors, however, now suffer any loss at all in closed insured
banks. Under the deposit insurance system, the Corporation in pro
tecting the depositors has succeeded to their claims against the banks
and has, therefore, become the chief creditor of insured banks which
fail.1
The Corporation alone of the supervisory agencies bears the finan
cial responsibility of loss from bank failures, but the direct supervision
of over one-half of the banks for whose solvency the Corporation has
sole financial responsibility rests with other agencies. More than onehalf of the Corporation's disbursements for the protection of depositors
has occurred in connection with insured banks over which the Corpora
tion did not have direct supervision. Approximately two-thirds of
the Corporation's expected losses to date are in those banks.
The Corporation should have direct supervisory contact with each
insured bank; the fact that the insurance coverage is nominally low in
some banks does not affect this necessity. Experience of the Corpo
ration reveals that depositors in most cases are protected for the full
amount of their deposits, irrespective of the size of their balances,
when it becomes necessary to eliminate weak or insolvent insured
banks. In the main, the Corporation has protected depositors in the
larger banks by making loans to facilitate mergers, thus avoiding
receiverships. Under this procedure there has been no loss to any
depositor regardless of the amount of his deposit. This protection has
covered balances due other banks, building and loan companies, and
other financial institutions with resulting benefit to their depositors,
shareholders, and customers. As a consequence, the financial de
terioration of an insured bank no longer generates widespread un
easiness, in contrast with the situation prior to deposit insurance when
banking difficulties were accompanied by loss of confidence, depositors'
runs, and economic disturbances.
Before the establishment of the Federal Deposit Insurance Corpora
tion bank supervisors were subject to criticism by local depositors who
suffered when banks failed. Now that the bulk of the losses is borne
by the Corporation most depositors no longer look to supervisors for
the protection of their funds and the supervisors are no longer under
the pressure of their criticism. The Corporation, therefore, must be
in a position to exert effectively its influence for the maintenance of
the banks in a sound condition.
The existence today of more than one system of bank supervision
permits bankers a certain amount of choice of supervisory agencies.
1 The Corporation’s losses are about 15 times those of other creditors of the closed banks.
PROTECTION OF DEPOSITORS
13
As a consequence, an unsound banker can balance one supervisory
system against another and choose the one which will impose the lowest
standards of operation on his bank. There results from this situation
a tendency on the part of some supervisory agencies to engage in un
desirable competition with other supervisory agencies in order to retain
banks under their jurisdiction or to induce banks to come under their
jurisdiction. The effect of such competition is to reduce standards of
bank supervision and banking practices.
It has already been pointed out that one of the important factors
contributing to the failure of the State systems of deposit insurance or
guaranty in the 1920's was lack of authority on the part of the insuring
agencies to maintain adequate standards of supervision and banking
practices. Maintenance of such standards is essential to the operation
of a sound banking system. The Corporation, as insurer of accounts
in more than 13,000 banks holding more than $65 billion of deposits,
has the duty of preserving the safety and integrity of the system. In
order to discharge the Corporation's responsibilities and to achieve
the objectives of the deposit insurance law, the Corporation must have
the power to require all insured banks to maintain proper standards
and operate on a sound basis.
P r o t e c t io n o f D e p o s it o r s
Protection of depositors in insured banks. From the beginning
of Federal insurance of bank deposits on January 1, 1934, to the close
of 1940, 355 insured banks with deposits of $439 million were merged
with the financial aid of the Corporation or suspended and were put
into liquidation. Depositors' losses in these banks are estimated at
about $3 million, or less than 1 percent of total deposits. This rate of
loss compares with an estimated average loss of approximately 20 per
cent suffered by depositors in closed banks during the 70 years im
mediately preceding deposit insurance.1
The Corporation disbursed $216 million to protect over 1 million
depositors in the 355 banks. The Corporation expects to lose about
$46 million, one-fifth of its disbursements, or about 10 percent of the
deposits of the banks. Figures are presented in Table 1. More than
one-half of this loss is accounted for by 8 of the 355 banks.
Nearly one-third of the Corporation's losses will be incurred in banks
which were merged or placed in receivership during 1940. Approxi
mately 85 percent of the estimated losses in the banks closed or merged
in 1940 are in three banks. The Corporation's total disbursements
in 1940 amounted to $74 million, exclusive of expenses, and involved 43
1 See Part Three, pages 61 to 70.
14
FEDERAL DEPOSIT INSURANCE CORPORATION
banks with total deposits of $144 million. The name and location of
the insured banks placed in receivership or merged with the financial
aid of jthe Corporation during 1940, together with data respecting
their assets and liabilities and the Corporation's disbursements, are
presented in Tables 165 and 167 to 171, pages 232 and 235 to 239.
Table 1.
LOSSES AND DISBURSEMENTS IN INSURED BANKS
in
F in a n c ia l D
if f ic u l t ie s ,
1 9 34-1 940
Total
1934-1940
Banks closed
or merged in
1940
Number of banks.............................................................................................
355
43
Estimated loss to depositors.........................................................................
Estimated loss to the Federal Deposit Insurance C orporation............
Disbursements by the Federal Deposit Insurance Corporation...........
$3,054,000
45,776,000
216,006,000
$41,000
13.655.000
74.061.000
Excluding those depositors who were fully protected by insurance
but did not file claims and who could not be located by the Corpora
tion's representatives, less than 5,000 depositors will suffer any loss
at all. In 257 of the 355 banks not a single depositor who filed a claim
will suffer any loss. Figures relating to depositors' losses and re
coveries are given in Table 2.
Table 2.
DEPOSITORS’ RECOVERIES AND LOSSES IN INSURED BANKS
in
F in a n c ia l D
if f ic u l t ie s ,
1 9 34-1 940
Num ber of depositors....................................................................................................................
Depositors suffering no lo ss ..........................................................................................................
Depositors suffering loss:
Claims filed but recoveries from liquidation inadequate1........................................... ..
Claims not filed within period prescribed by la w ...............................................................
1,133,379
1,106,720
Am ount of deposits........ ............................................................................................................
Estimated recoveries by depositors.............................................................................................
Estimated losses by depositors filing claims1............................................................................
Estimated losses because of failure to file claim s....................................................................
$438,625,000
435,471,000
3,054,000
100,000
4,439
22,220
1 1,476 depositors will lose an estimated $2,825,000 of their deposits in accounts which exceeded
the limit of $5,000 insurance and which were not otherwise protected; and 2,963 depositors will lose
about $229,000 in accounts which had been restricted or deferred prior to 1934 or were otherwise ineligible
for insurance protection.
By the close of the year, 22,220 depositors with deposits totaling
$100,000, who originally were fully protected by insurance but who had
disappeared and could not be located and induced to claim their ac
counts within the time prescribed by law, were barred from further
insurance protection. For the most part their accounts were “ dor
mant" and had been abandoned or forgotten by their owners many
years ago. Most of the accounts were small; many amounted to less
than one dollar. Efforts were made to locate the depositors and to
induce them to claim their deposits but without success. The Corpo
ration mailed notices to their last known addresses, as shown by the
15
PROTECTION OF DEPOSITORS
records of the banks, inserted advertisements in local papers, and
posted notices in conspicuous public places. The Banking Act of
1935 provides that, if any depositor who has been given at least three
months' notice—either by mailing to his last known address or by
publication—shall fail to claim his insured deposit within eighteen
months after the appointment of the receiver for the closed bank, the
rights of such depositor against the Corporation as insurer shall be
barred.1
Method of providing insurance protection. The Corporation
protects depositors in insured banks in financial difficulties (1) by
advancing cash to the banks to make up deficiencies or to replace their
poor assets in order to facilitate mergers with other banks, or (2) by
paying off depositors, up to $5,000 per depositor, in insured banks
which close without making adequate provision for payment of de
positors. Disbursements under the two methods of dealing with
insolvent or hazardous insured banks during the past seven years are
presented in Table 3. A comparison of the protection given deposits
under the two methods is shown in Table 4.
Table 3.
DISBURSEMENTS OF THE CORPORATION IN CONNECTION WITH BANKS
in
F in a n c ia l D if f ic u l t ie s , 1934-1940
Number of banks
Placed in
receiver
ship
Total
Amount of disbursement
(in millions)
Merged
Insured
deposits
paid
Total
Loans and
assets
purchased
T o t a l ....................
355
226
129
$216
$67
1940...................
43
19
24
74
5
69
1939...................
60
32
28
68
26
42
21
$149
1938...................
74
50
24
30
9
1937...................
75
50
25
19
12
7
1936...................
69
42
27
15
8
7
1935...................
25
24
1
9
6
3
1934...................
9
9
1
1
Detailed figures for 191+0— See Table 165, page 232, and Table 171, page 239.
Of the 355 banks aided or closed, 129 with deposits of $353 million
were merged with no interruption of operations and without loss to
depositors, while 226 banks with deposits of $86 million were placed
in receivership.2 In all, nearly 98 percent of the deposits have been
made available promptly to depositors, while payment of only
2 percent of the deposits has been dependent upon the course of liqui
dation of the banks in receivership.
1 Depositors in insured banks placed in receivership prior to the Banking Act of 1935 can continue
to claim protection from the Corporation until the termination of the receiverships of those banks.
2 While the depositors are protected against loss in the case of mergers, the stockholders are not and
receive no collections on their investment until after the Corporation has been paid off in full with interest.
16
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 4 .
in
DEPOSITS PROTECTED IN INSURED BANKS
F in a n c ia l
D
if f ic u l t ie s ,
1934-1940
In all
closed
banks
All b a n k s ..............................................................................
In banks
placed in
receivership1
In banks
merged2
97.8%
88.8%
100.0%
B an ks w ith d ep osits o f —
$100,000 or less.................................................................
$100,000 to $250,000.......................................................
$250,000 to $500,000.......................................................
97.1
96.4
96.2
96.3
95.4
93.9
100.0
100.0
100.0
$500,000 to $1,000,000....................................................
$1,000,000 to $2,000,000................................................
$2,000,000 to $5,000,000................................................
93.6
98.1
97.0
87.0
92.9
84.5
100.0
100.0
100.0
$5,000,000 to $10,000,000..............................................
$10,000,000 to $50,000,000............................................
More than $50,000,000...................................................
100.0
93.3
82.4
100.0
100.0
1 Protected by insurance, security, offsetting claims, or priority over claims of other depositors.
2 With financial aid of Federal Deposit Insurance Corporation.
Procedure for providing insurance protection. In the case of
mergers and consolidations the Corporation uses two principal types
of contract: (1) it makes a loan taking as collateral all of the assets
which are not taken by the absorbing bank; (2) it purchases assets
with an agreement to return to the bank any unliquidated assets and
any surplus cash when it has collected the purchase price of the assets
plus expenses and interest at 4 percent. The amount of the disburse
ment by the Corporation is always the amount necessary to make up
the deficiency between the value of assets taken over and the liabilities
assumed by the absorbing bank. Under the terms of the contract
with the bank which is aided, the Corporation is given control of the
liquidation and disposition of the assets unacceptable to the bank
assuming the deposits.
In banks which suspend and are placed in receivership the Corpora
tion starts payments to depositors as soon after the closing of an in
sured bank as legal arrangements can be made for the subrogation of
depositors' claims to the Corporation and as soon as the records for
payments can be completed. Ordinarily insured deposits are made
available within from 10 to 14 days after the actual closing of the bank.1
In most cases the Corporation's representatives are sent in immediately
following appointment of the receiver to verify the records and make
arrangements to pay off insured depositors. As soon as these arrange
ments have been completed the Corporation notifies depositors by
mail, posters, and advertisements of its readiness to pay all insured
deposits. Thereafter payments are made as rapidly as depositors
present and prove their claims. The procedure for presenting and
proving claims has been so simplified that it now imposes little greater
1
In some cases delays have been longer due to the legal provisions of some States which require
a waiting period before appointment of a receiver. Dates of suspension and of commencing payment
of insured claims in banks placed in receivership during 1940 are given in Table 167, page 235.
17
PROTECTION OF DEPOSITORS
burden upon depositors than is ordinarily involved in the closing of a
deposit account in an operating bank. Figures regarding the payment
of deposits in insured banks in receivership are given in Table 5.
Table 5.
PAYMENT OF DEPOSITS OF INSURED BANKS PLACED IN
R
e c e iv e r s h ip ,
1934-1940
(In thousands of dollars)
Paid by
Dec. 31,
19401
Total
Unpaid on
Dec. 31,
1940
Deposits— to ta l..................................................................
85,905
79,837
6,068
Insured................................................................................
67,408
67,047
361
Secured, preferred, and subject to offset...................
8,875
8,790
85
Other deposits in excess of $5,000................................
8,491
3,507
4,984
Restricted or otherwise uninsured...............................
1,031
493
538
U nclaim ed..........................................................................
100
100
1 Payments made both by the Federal Deposit Insurance Corporation and by receivers.
Detailed figures— See Tables 170 and 171, pages 238 and 239.
Losses and recoveries of the Corporation. Insurance losses are
estimated at $46 million: 10 percent of total deposits and approximate
ly 20 percent of total disbursements.1 In the banks placed in re
ceivership, the Corporation estimates losses will be 23 percent of total
deposits compared with losses of 7 percent of total deposits of the
banks merged. Out of the $216 million of disbursements made during
the past seven years in protecting depositors and assets, $80 million
had been repaid to the Corporation by the end of 1940. This is less
than one-half of the amount which it* expects to recover.2
Of the 226 insured banks placed in receivership from 1934 to 1940,
38 were completely liquidated by the end of that period. The liquida
tion of 13 of these banks was completed in 1940. Of the 38 banks,
20 made full repayment to the Corporation on its subrogated claims,
10 with interest. Of the 129 loan and purchase transactions, 19 were
closed by December 31, 1940. In 18 of these cases all expenses in
curred by the Corporation were repaid and collections were sufficient
to repay the principal of the loan and to pay interest. In the remain
ing case collections after deduction of expenses amounted to 96 percent
of the principal of the loan. The distribution of banks according to
the percent of repayment to the Corporation on its subrogated claims
and on loans is shown in Table 6.
1 The figures of Corporation losses include expenses, for which the Corporation is not reimbursed,
incurred by the Corporation in connection with payment of claims and liquidation of assets. They
do not, of course, include ordinary administrative expenses of the Corporation.
2 Detailed figures are as follows:
Banks in
Banks
receivership
merged
Disbursements.......................................................... $67,047,000
$148,959,000
Estimated losses.......................................................
20,098,000
25,678,000
29,637,000
49,845,000
Collections to December 31, 1940.......................
18
FEDERAL DEPOSIT INSURANCE CORPORATION
During 1939, for the first time the Corporation exercised its power
to purchase assets from the receivers of closed insured banks in order
to facilitate the termination of these receiverships. During the two
years, 1939 and 1940, assets were purchased from the receivers of 11
banks at a cost to the Corporation of $501,000. During 1940, assets
amounting to $366,000 were purchased from the liquidators of 6
banks. Detailed figures are shown in Table 166, page 234.
Table 6.
of
D
R
epaym ents
is b u r s e m e n t s
to
in
the
C o r p o r a t io n
In sured
B anks
in
as
Liquidation completed
Total
number
of
banks
Banks in
receiver
ship
of
D
31, 1940,
ecem ber
F in a n c ia l
D
if f ic u l t ie s
Liquidation not completed
Banks
merged
Total
number
of
banks
Banks in
receiver
ship
Banks
merged
T o ta l..............................................
57
38
19
298
188
110
Repayments to Corpora
tion of—
100 percent................................
75 to 100 percent.....................
50 to 75 percent.......................
38
12
5
20
11
5
18
1
27
66
77
23
51
46
4
15
31
1
1
1
1
57
51
20
25
25
18
32
26
2
25 to 50 percent.......................
0 to 25 percent.........................
N o repayments........................
N o te :
In b a n k s p l a c e d in r e c e i v e r s h i p , r e p a y m e n t s c o n s i s t o f a m o u n t s received f r o m receivers
by the Corporation on insured depositors’ claims to w h i c h it has been subrogated; in banks merged,
repayments consist of amounts collected from disposal o f assets after deducting expenses incident to
the transaction.
Receivership activities of the Corporation. At the close of
1940, the Corporation was acting as receiver for 61 of the 188 insured
banks in receivership. It was receiver for 12 national banks with
deposits aggregating $10.7 million and for 49 State banks with deposits
aggregating $11.4 million. The Corporation, as principal creditor
through its subrogation to insured depositors' claims, maintains close
contact with the receivers of the remaining 127 State banks with
deposits at time of suspension of $56.8 million and assists as much as
possible in promoting efficient liquidation of these banks.
S u p e r v is o r y A c t iv it ie s o f t h e C o r p o r a t io n
As insurer of deposits in banks holding 97 percent of the deposits of
commercial banks, the Corporation has the duty of preserving the
safety of depositors' funds in the banks of the country. In addition
to paying off depositors in closed banks, the Corporation endeavors to
avoid the development of situations likely to lead to accumulation of
losses in the banking system. The Corporation examines insured
banks not subject to examination by the Office of the Comptroller of
SUPERVISORY ACTIVITIES OF THE CORPORATION
19
the Currency or the Federal Reserve authorities, and reviews reports
of examinations of insured banks conducted by those Federal agencies.
It has the authority to terminate the insured status of any bank which
continues to. engage in unsafe or unsound practices or in violations of
law or regulations.
Insured banks not members of the Federal Reserve System must
obtain the approval of the Corporation before reducing or retiring
capital, and any insured bank must obtain the approval of the Corpo
ration before assuming the deposit liabilities of, or consolidating or
merging with, a noninsured bank. Noninsured banks which wish to
become insured as banks not members of the Federal Reserve System,
and insured banks not members of the Federal Reserve System which
wish to establish or relocate branches, must obtain the approval of the
Corporation. The Corporation is required to issue regulations re
garding the payment of interest on deposits in insured banks not
subject to the provisions of similar regulations issued by the Board of
Governors of the Federal Reserve System. The Corporation may
issue such other regulations as are necessary to carry out its functions.
Actions regarding banks in an unsound condition. The
Corporation has the authority to terminate the insured status of any
insured bank which continues to engage in unsafe or unsound practices
or in violations of law or regulations. The Corporation uses this power
as an ultimate sanction in its efforts to maintain sound operating con
ditions. For the most part the Corporation attempts by informal
action jointly with the appropriate supervisory authority to secure
correction of unsound situations and resorts to use of its ultimate
powers only as a last resort. Knowledge of the existence of the power
of the Corporation to terminate the insured status of a bank makes the
Corporation's informal efforts to correct unsatisfactory situations more
successful than might otherwise be the case. Where corrections do
not appear to be possible or likely, the Corporation prefers to have the
bank closed or merged with a sounder bank rather than to terminate
the bank's insured status, because, in the case of a State bank, the
bank might continue to operate and be a threat to the integrity of the
banking system.
During 1940, nearly 100 insured banks considered to be hazards to
the banking system were eliminated. Of these banks, 43 suspended
operations or were merged with the financial aid of the Corporation;
39 were absorbed or succeeded by other insured banks without finan
cial aid by this Corporation; and 11 went into voluntary liquidation
and paid off their depositors. Many of these hazardous banks held
large amounts of substandard assets, many had inadequate capital,
and many of them were operated by incompetent, untrustworthy, or
self-serving managements.
20
FEDERAL DEPOSIT INSURANCE CORPORATION
At the close of the year, less than 20 banks with deposits of about
$25 million were still in operation which, on the basis of information
available to the Corporation, were considered to be cases involving
imminent risk of loss to the Corporation. More than 100 other banks,
while not involving imminent risk of loss to the Corporation, were
considered to be problem cases requiring special attention to avoid
further deterioration. Insofar as its supervisory powers permit, the
Corporation is giving special attention to all of these banks. In some
cases efforts are being made to strengthen the banks through intro
duction of additional capital, conservation of earnings, gradual elimi
nation of undesirable assets, and improvement of bank management;
in some cases negotiations are in process for loans from the Corpora
tion to finance mergers with other banks; in other cases steps are
being taken to institute formal proceedings to terminate insured
status for continuing to engage in unsafe or unsound practices.
T a b le 7 .
w it h
ACTION TO TERMINATE INSURED STATUS OF BANKS CHARGED
E n g a g in g
in
of
U nsafe
Law
or
or
U n s o u n d P r a c t ic e s
or
V
io l a t io n s
R e g u l a t i o n s , 1936-1940
Cases in 1940
Total
cases
1936-19401
T otal banks against which action was tak en ...................
Gases closed during period...................................................
Corrections m ad e.....................................................................
Insured status terminated for failure to make corrections3
Banks suspended4.....................................................................
Banks absorbed or succeeded by other banks5.................
Cases pending December 31, 1940......................................
Deferred pending consummation of recapitalization or
merger plans..........................................................................
Correction period not expired...............................................
Otherwise deferred....................................................................
Pending
beginning
of year2
Started
during
year
97
11
19
90
15
3
34
38
10
2
13
3
5
1
12
7
1
6
4
1
2
1
3
1
2
1 N o action to terminate insured status of any bank was taken before 1936. In 3 cases where
initial action was replaced by action based upon additional charges, only the later action is included.
2 Excludes 1 bank against which action pending at the beginning of 1940 was discontinued in order
that a new action could be started.
3 One of these 3 banks suspended 4 months after its insured status was terminated.
4 The date for official termination of insured status was set in 5 of these cases, but termination was
not effective before the banks suspended.
6 In all except 1 of the 38 cases the Corporation made loans to facilitate the mergers or reorgani
zations.
Detailed figures— See Table 175, page 246.
Unsafe and unsound banking practices. During the existence
of Federal deposit insurance and up to the close of 1940 the Corpora
tion took action against 97 banks for unsafe or unsound practices or
violations of law or regulations, securing corrections in 15 cases, and
terminating the insurance of 3 banks.1 Seventy-two banks suspended
1 Of the 3 banks whose insurance was terminated, 1 subsequently suspended operations.
21
SUPERVISORY ACTIVITIES OF THE CORPORATION
operations or were absorbed by other banks before action to termi
nate insurance became effective. Seven cases were pending at the
close of the year. The figures are summarized in Table 7.
During 1940, proceedings were initiated against 19 banks and con
tinued against 11 banks whose cases were pending at the opening of
the year. Of the 30 cases, 23 were completed and 7 were pending at
the close of the year. In the completed cases, 2 banks made the neces
sary corrections, 4 suspended operations, and 17 were absorbed or
succeeded by other banks with financial aid from the Corporation.
A list of the unsafe and unsound practices and violations of law or
regulations in the case of the 19 banks against which action was
taken during 1940 is given in Table 8.
T a b le
8.
U
L
nsafe
aw
or
OR UNSOUND
R
by
e g u l a t io n s
the
C
B AN K IN G
PRACTICES
C harged A
o r p o r a t io n
D
u r in g
Type of practice or violation
AND
19
1940
g a in s t
B
VIOLATIO N S
O
anks
of banks
charged
Case identification
letters
Capital:
Operation of bank with seriously impaired capital..................
19
a, b, c, d, e, f, g, h, i, j, k
1, m, n, o, p, q, r, s
M anagem ent and general practices:
Lax credit, loan, and collection policies......................................
Carrying of losses in bank’s assets, failing to disclose true
statement of condition.................................................................
18
Operation of bank by weak, hazardous, untrustworthy, or
incapable management................................................................
Lax investment policy.....................................................................
Unwarranted and excessive loans to directors, officers, em
ployees, or their interests...........................................................
Loan and investment practices:
Unwarranted and excessive volume of past due loans or
nonincome-producing assets.......................................................
Carrying of unwarranted and excessive amounts of other real
estate owned and potential other real estate.........................
Excessive volume of assets in Classifications II and III or
generally unsatisfactory asset condition.................................
Progressive deterioration of assets................................................
Inadequate credit data and financial statements.....................
Unwarranted and excessive extensions of credit in violation
of la w ...............................................................................................
Carrying of other real estate in excess of maximum time
permitted by la w ..........................................................................
Investment in and retention of assets in contravention of
existing laws or regulations........................................................
Unwarranted and excessive liability in connection with a
certain p rop erty. ..........................................................................
Miscellaneous:
Poor or rapidly declining earnings................................................
Unsatisfactory administration of trust department.................
7
b, c, d, m, n, p, r
a, b, c, d, f, g, h, i, j, k,
m, n, o, p, q, r, s
7
7
e, f, m, n, p, r, s
b, c, d, e, m, n, p
4
b, m, n, s
10
c, d, g, h, i, j, m, n, p, s
10
a, b, c, d, g, i, j, k, 1, m
18
a, b, c, d, f, g, h, i, j, k, 1,
m, n, o, p, q, r, s
a, b, d, f, g, i, j, k, 1, o, q,
12
7
2
g, h, i, j, n, p,
i> 1
Detailed and back figures— See Table 176, page 247.
The 97 banks were engaged not merely in one, but in many unsafe
or unsound practices or violations of law or regulations, and continued
such practices or violations notwithstanding repeated criticisms in
successive examinations. Nearly all of them had operated for some
22
FEDERAL DEPOSIT INSURANCE CORPORATION
time with seriously impaired capital. A large proportion of them held
an excessive volume of substandard assets. Most of them were
operated by incompetent or self-serving managements.
Bank examinations. From the beginning of its operations in
September 1933 to the close of 1940, the Corporation conducted ap
proximately 62,000 examinations of banks. In addition, the Corpora
tion has conducted examinations of trust departments of the banks.
All of the examinations of banks, except 155, were examinations
of insured banks not examined by any other Federal bank supervisory
authority.1 The 155 examinations were made in connection with
actions against banks believed to be engaged in unsafe or unsound
practices or violations of law or regulations, in connection with
insolvent or hazardous banks applying for loans to facilitate mergers,
or in connection with applications for insurance from banks wishing
to withdraw from the national or Federal Reserve systems but to
continue their insured status.
During 1940, the Corporation conducted the following examinations
of banks:
7,026 regular examinations of insured State banks subject
to examination by the Corporation;
151 additional examinations of insured banks subject to
examination by the Corporation believed to be engaged in
unsafe or unsound practices, or to be insolvent, or otherwise
to require special attention;
120 examinations and investigations of banks applying for
admission to insurance (including 20 banks wishing to with
draw from the national or Federal Reserve systems but to
continue to be insured2), or for permission to establish or
change location of branches;
3 examinations of insured banks not regularly subject to
examination by the Corporation but believed to be engaged
in unsafe or unsound practices or to be insolvent, and 1 exam
ination of a national bank in connection with a proposed
consolidation not requiring financial assistance from the
Corporation;2
1,044 examinations of trust departments of banks.
In addition to these examinations the Corporation reviewed 7,036
reports of examinations of insured banks and 2,135 reports of exam
inations of trust departments made by other Federal agencies.
1 Insured national banks are examined by the Comptroller of the Currency and insured State banks
members of the Federal Reserve System by the Federal Reserve banks.
2 Permission to conduct these examinations was granted by the Comptroller of the Currency in
the case of national banks and by the Board of Governors of the Federal Reserve System in the case
of banks members of that system.
SUPERVISORY ACTIVITIES OF THE CORPORATION
23
Admissions to and terminations of insurance. The Corpora
tion approved the application for admission to insurance of 61 banks
during 1940. In addition, 12 banks became insured through action
of other Federal authorities. Of the 61 banks approved for admission
by the Corporation, 26 were new banks or banks replacing other banks
or other financial institutions, 13 were banks in operation at the be
ginning of the year, and 22 were banks reorganizing or converting
from national to State banks or withdrawing from the Federal Reserve
System.1 An analysis of applications approved by the Corporation is
presented in Table 172, page 240.
The insurance of 181 banks was terminated during the year.2 The
terminations reflected the absorption of banks by other operating
banks, the failure of some banks, and the voluntary liquidation of
others. As indicated previously, approximately one-half of these
banks were in an unsatisfactory condition, and their discontinuance
eliminated weak spots in the banking situation.3 An analysis of
changes in the number of insured banks by years, January 1, 1934, to
December 31, 1940, is given in Table 104, page 104.
Establishment of branches. During 1940, the Corporation
approved the applications of 38 banks for establishment of 41 branches.
Forty-seven new branches were established by 38 banks without
Corporation approval. These banks were national and State banks
members of the Federal Reserve System and thus were not required
to obtain Corporation approval for establishment of branches.
Capital adjustm ents of banks. During the year 1940, appli
cations for the retirement of capital obligations held by the Recon
struction Finance Corporation, filed by banks required by law to secure
approval of the Federal Deposit Insurance Corporation, were approved
in amounts aggregating $15.2 million and disapproved in amounts
aggregating $1.9 million.4 These applications were filed by 1,645
banks. Applications for the retirement of capital obligations held by
others than the Reconstruction Finance Corporation were approved
in amounts aggregating nearly $1.0 million. The Corporation ap
proved the reduction of par or book value, but not retirable value, of
preferred capital obligations (held chiefly by the Reconstruction
Finance Corporation) to the extent of $1.3 million in 9 banks. It
approved the reduction of the par value of common stock to the extent
of $3.9 million in 33 banks. Further details will be found in Tables 173
and 174, pages 242 and 244.
1 In addition, the Corporation approved the retention of insured status of 1 bank which had pre
viously filed notice of withdrawal from insurance and the reorganization plan of 1 bank which had been
a member of the Federal Reserve System and was readmitted to that system.
2 This figure includes 37 banks which were succeeded by other insured banks.
3 See page 19.
4 National banks and banks in the District of Columbia, and State banks members of the Federa
Reserve System, file their applications with the Comptroller of the Currency, and the Federal Reserve
banks, respectively, and are not required to have the approval of the Federal Deposit Insurance Cor
poration.
24
FEDERAL DEPOSIT INSURANCE CORPORATION
From August 23, 1935, to the close of 1940, the Corporation has
taken action on approximately 7,500 formal applications from 3,059
banks to retire or reduce capital.1 The great bulk of these applica
tions were in connection with the retirement of preferred capital
obligations held by the Reconstruction Finance Corporation.
Approval of assumption or release of deposits. Actions of the
Corporation on applications of insured banks to assume deposit liabili
ties of noninsured banks or of other noninsured financial institutions,
to purchase assets in conjunction with assumption of liabilities of
banks in liquidation, or to pay or release deposits which had been
subordinated or restricted as to payment prior to August 23, 1935, are
summarized in Tables 173 and 174, pages 242 and 244.
Reports from banks. As required by law each insured bank
submitted semi-annual statements of its daily deposits for the purpose
of determining the amount of assessment to be paid for deposit in
surance.
The Corporation called for reports of assets, liabilities, and capital
accounts as of June 29 and December 31, 1940, and for reports of
earnings, expenses, and disposition of profits for the calendar year
1940, from each insured bank required by law to submit such reports
to the Corporation.2 The forms used for the reports of assets, liabili
ties, and capital accounts were those adopted by the three Federal
bank supervisory agencies and by a number of State authorities.
In connection with the June 29 call, the Corporation asked the
commercial banks to submit information regarding their agricultural
loans on a supplementary schedule, issued at the request of the Depart
ment of Agriculture.
The banks were also requested to submit, in connection with the
December 31 call, a supplementary schedule showing the amount of
instalment consumer loans outstanding. This information was re
quested because of the interest of the Federal bank supervisory
agencies, the Department of Commerce, bankers, and others, in the
scope of operations of banks in the field of consumer financing.
Identical supplementary schedules relating to agricultural loans
and consumer instalment loans were also used by the other Federal
bank supervisory agencies. These schedules were issued in accordance
with the practice of the three supervisory agencies of seeking to obtain
for other agencies such information as may reasonably be required,
thus avoiding duplication and confusion in the reporting, collection,
and tabulation of data relating to banks.
1 August 23, 1935, was the effective date of the law requiring Corporation approval of retirement
of capital of insured banks not subject to the supervision of the other Federal bank supervisory agencies
2 Banks required to submit reports to the Corporation are the insured banks not members of the
Federal Reserve System except those in the District of Columbia and national banks in the possessions
which report to the Comptroller of the Currency.
LEGISLATION DURING 1940 AFFECTING DEPOSIT INSURANCE
25
Each insured bank required to submit reports of assets, liabilities,
and capital accounts to the Corporation and which operated more than
one banking office was also requested to report to the Corporation, as
of June 29, 1940, the name and location, and the amount of deposits,
of each of its banking offices.
The data reported have been summarized and published in pamphlet
form or are given in this Annual Report.
L e g is la t io n D u r in g
1940 A f f e c t i n g D e p o s i t I n s u r a n c e
Federal legislation. The Federal statute which provides penal
ties for those committing the offense of robbery of a bank was added
to and broadened by Congress in 1940. This action consisted of a new
subsection providing a penalty against anyone who might receive,
possess, conceal, store, barter, sell, or dispose of anything of value
knowing the same to have been taken from an insured bank in violation
of law. The text of the amendment adopted in 1940 is given on
page 77.
State legislation directly affecting the operations of the
Corporation. During 1940 only nine State Legislatures convened in
regular session. The Legislatures of Kentucky, Louisiana, Mississippi,
and Virginia held their regular biennial sessions. Regular annual
sessions were held in New Jersey, New York, Rhode Island, and South
Carolina. The regular quadrennial session for Alabama convened in
1939, recessed in June of that year and reconvened in 1940. In all of
the States named there had theretofore been adopted either a part or
all of the suggestions made by this Corporation for certain enactments
to provide for a more effective coordination of the operations of the
State banking systems and the Federal deposit insurance system.
In Kentucky, the banking law was amended to require the Director
of the Division of Banking to accept examinations made of a trust
department in combined banks and trust companies by examiners of
the Federal Deposit Insurance Corporation or of the Federal Reserve
System, or by a Certified Public Accountant, if the report of such
audit or examination was furnished him.
In New York, an act was passed facilitating application of the
Federal Deposit Insurance Corporation’s loan and merger powers to
insured banks in financial difficulties operating under the jurisdiction
of the Superintendent of Banks of that State.
In Rhode Island, the Director of Business Regulation was authorized
to accept, in lieu of his own examinations, reports of examinations
conducted by the Federal Deposit Insurance Corporation or the
Federal Reserve Bank, and to give those Federal agencies access to
FEDERAL DEPOSIT INSURANCE CORPORATION
26
reports of examinations in the office of the Director of Business
Regulation.
In South Carolina, the act adopted in 1939, requiring, among other
things, the paid-in capital to be sufficient to qualify an applicant bank
for membership in the “ Federal Deposit Insurance Fund” before a
charter could be issued to it, was amended so that existing charters
might be transferred to new owners to operate a bank with new person
nel provided the public interest would be promoted by such transfer.
State legislation relating to bank supervision. In addition to
the legislation mentioned above the following subjects were dealt with
in legislation during 1940 affecting banking and bank supervision:
Amount of indebtedness permitted to be incurred by
officers of banking institutions and others................. Kentucky, Virginia
Authorized powers of banking institutions........................................Virginia
Ratio of deposits to capital and surplus of banks....................... Mississippi
Providing a method to calculate value of bank stock for
taxation.........................................................................................New Jersey
Security for bankruptcy fund deposits authorized in same
manner as with national banks................................................. New Jersey
Escheat or transfer of unclaimed deposits or
amounts....................................................................... New York, Kentucky
Purchases of or loans upon real estate............................................... Virginia
Functions of banking department................................................... Louisiana
Penalizing bank officials for receiving deposits or creating
debts knowing bank insolvent and making them in
dividually responsible therefor.................................................... Louisiana
Small loans and instalment loans....................................................... Virginia
Authorizing establishment of life insurance departments
by savings banks........................................................................... New York
Liquidation of banks and voluntary dissolutions......................... New York
Bank examinations............................................................................New York
Absolute liability of trust companies as “ trustee of a
trust of any kind” ......................................................................... New York
Change from national to State banking institution and
from State to national for consolidation with na
tional bank.....................................................................................New York
Preferred shares with a retirable value greater than
amount received in payment for the shares authorized
by a banking institution assuming deposits of an
other banking institution............................................................. New York
Security for deposit of State and public funds and trust
funds.................................................................................................Louisiana
Reorganization of Banking Department......................................... Louisiana
27
OPERATING STATEMENT OF THE CORPORATION
Constitutional amendment to exempt from taxation,
among other things, value of bank shares to extent
represented by surplus, undivided profits, etc., was
defeated in referendum.................................................................. Louisiana
O p e r a t in g S t a t e m e n t
of t h e
C o r p o r a t io n
Organization and staff. No changes in the directorship of the
Corporation occurred during 1940. Mr. Leo T. Crowley continued as
Chairman; Mr. Phillips Lee Goldsborough and Mr. Preston Delano,
Comptroller of the Currency, continued as Directors throughout the
year.
The personnel increased by 443 during the year and on December 31,
1940, consisted of 1,927 officers and employees, of whom 522 were
located in the main office in Washington and 1,405 in the field and at
regional offices. The number of officers and employees in each division
of the Corporation is given in Table 9.
Table 9.
OFFICERS AND EMPLOYEES OF THE CORPORATION, D E C EM BER
Total
31, 1940
Officers and
adminis
Clerical,
trative,
stenographic
supervisory,
and
and technical
custodial
employees
employees
T o t a l ...................................................................................................
1,927
726
1,201
Washington office— total......................................................
District and field offices— total............................................
522
1,U05
U7
579
375
826
Directors and aides......................................................................
Legal D ivision................................................................................
Division of Examination.............................................................
23
37
609
8
15
445
15
22
164
Washington office........................................................................
District and field offices............................................................
uo
569
20
U25
20
1U
Division of Liquidation...............................................................
998
224
774
Washington office........................................................................
District and field offices...........................................................
162
836
70
15 U
92
682
Division of Finance and Administration................................
Division of Research and Statistics.........................................
201
59
15
19
186
40
The increase in personnel during the year occurred chiefly in the
Division of Liquidation although practically every division showed
some expansion. The increase resulted from the expansion of the work
of the Corporation in connection with the payment of insured deposits
in insured banks, liquidation of banks for which the Corporation was
receiver, and the liquidation of assets purchased by the Corporation
or taken over as collateral on loans made by it.
Effective December 31, 1940, the legal section of the Division of
Liquidation was consolidated with the Legal Division and the attor
neys and aides in that section transferred to the Legal Division.
28
FEDERAL DEPOSIT INSURANCE CORPORATION
The organization chart of the Corporation as of December 31, 1940,
is shown on page 5.
Incom e and expenses. Total income of the Corporation for the
entire period of its existence through December 31,1940, amounted to
$274.5 million, of which $211.1 million were received from assessments
paid by insured banks and $63.4 million were from income and profits
on investments. Administrative expenses of the Corporation were
$22.0 million and charges on account of insurance expenses and esti
mated losses were $45.8 million. Accumulated surplus of the Corpo
ration on December 31, 1940, was $206.7 million. The chief items of
income and expense of the Corporation for each year since beginning
operations are shown in Table 10. A detailed statement of income
and expenses for the year 1940 is given in Table 11.
Table 10.
INCOME AND E XPEN SES OF THE CORPORATION
S in c e B
e g in n in g
O p e r a t io n s 1
(In millions of dollars)
Total
1940
1939
1938
1937
1936
1935
1933-342
274.5
55.9
51.2
47.8
48.1
43.8
20.7
Deposit insurance as
sessments3.................
Investment income and
profits.........................
211.1
46.2
40.7
38.3
38.8
35.6
11.5
63.4
9.7
10.5
9.5
9.3
8.2
9.2
7.0
Expenses— to ta l.............
67.8
17.3
19.1
8.1
7.3
6.0
5.6
4.4
D e p o s i t in s u r a n c e
losses and expenses..
A d m in is tr a tiv e e x
penses4........................
45.8
13.7
15.7
5.1
4.6
3.5
2.9
.3
22.0
3.6
3.4
3.0
2.7
2.5
2.7
54.1
Net income added to
surplus.........................
206.7
38.6
32.1
39.7
40.8
37.8
15.1
2.6
Incom e— to ta l...............
7.0
1 Figures of total expenses, deposit insurance losses and expenses, and net income added to surplus
for years prior to 1940 differ from those shown in previous Annual Reports because of revisions in esti
mates of losses allocated to the different years.
2 Includes expenses from date of organization, September 11, 1933, to December 31, 1934.
3 Assessments collected from insured banks, members of the temporary insurance funds, were
credited to their accounts in total at the termination of the temporary funds, being applied toward
subsequent assessments under the permanent insurance fund, and resulting in no income to the Cor
poration from assessments for the term of the temporary insurance funds.
4 Includes furniture, fixtures, and equipment purchased and charged off.
6 After deducting portion of expenses and losses charged to banks withdrawing from the temporary
funds on June 30,1934.
Total income for the calendar year 1940 was $55.9 million, of which
$46.2 million represented assessments and $9.7 million interest on
investments— net after provision for amortization of premiums,
interest on loans and subrogated claims, and profits on securities sold.
Total losses and expenses for the year amounted to $17.3 million, of
which $13.7 million were insurance losses and expenses and $3.6 million
were administrative expenses and other charges. The surplus of the
Corporation was increased by $43.3 million during the year, reflecting
net income of $38.6 million and adjustments to surplus, applicable to
prior periods, of $4.6 million.
29
OPERATING STATEMENT OF THE CORPORATION
T a b le 1 1 .
INCOME AND EXPENSES OF THE FEDERAL DEPOSIT INSURANCE
C o r p o r a t io n , C a l e n d a r Y e a r 1940
Incom e:
Deposit insurance assessments............................................................. $ 46,206,023.63
Interest earned and profit on sales of securities (less provision for
amortization of prem ium s)...............................................................
9,654,479.29
Interest received on loans and subrogated claims of depositors..
48,934.61
T otal in com e....................................................................
$ 55,909,437.53
Expenses:
Deposit insurance losses and expenses...............................................
Administrative expenses (see below )..................................................
Furniture, fixtures, and equipment purchased and charged o ff. . .
$ 13,670,357.06
3,501,533.37
92,694.39
T otal expenses.................................................................
$ 17,264,584.82
Net income added to surplus....................................
$ 38,644,852.71
Surplus December 31, 1939:
As previously reported........................................................................... $163,411,165.03
Plus— net adjustments applicable to periods prior to Jan. 1, 1940
4,629,256.49
Surplus as adjusted December 31, 1939........ ..
$168,040,421.52
Surplus December 31, 1940.........................................
$206,685,274.23
D IS T R IB U T IO N OF A D M IN IS T R A T IV E E XPEN SES
Salaries...........................................................................................................................................
Professional services...................................................................................................................
Services of other governmental agencies...............................................................................
Transportation............................................................................................................................
Subsistence...................................................................................................................................
Office rental..................................................................................................................................
Printing, stationery, and supplies...........................................................................................
Postage, telephone, and telegraph..........................................................................................
Insurance and fidelity bond premiums..................................................................................
Safekeeping and service charges on securities......................................................................
Subscriptions................................................................................................................................
Equipment rental........................................................................................................................
Repairs and alterations................................................................................................... ..
Transportation of things...........................................................................................................
M iscellaneous...............................................................................................................................
$
$
2,593,155.35
21,753.29
1,492.66
123,511.58
396,343.38
248,929.07
87,731.47
36,530.42
1,254.54
170.29
6,385.87
7,140.68
20,514.18
2,761.40
3,794.95
3,551,469.13
L ess:
Miscellaneous income and other credits applicable to reduction of
administrative expenses.....................................................................
$ 26,941.62
Inter-departmental expense transfers................................................
22,994.14
A d m in is tr a tiv e expen ses fo r t h e year e n d in g D e c e m b e r 31,
1940........................................................................................................
$
49,935.76
$
3,501,533.37
Claims held by Corporation against suspended and merged
banks. On December 31, 1940, the Corporation held subrogated
and pending claims of depositors against closed banks, loans to merging
banks made to avert or reduce losses, and other assets acquired through
bank suspensions and mergers amounting at face value to a total of
$135.8 million. The reserve for losses against these claims and assets
amounted to $43.6 million on December 31, 1940, and the assets were
carried at a net or appraised value of $92.2 million.1
1
The reserve for losses of $43.6 million given above is less than the amount of estimated losses of
$45.8 million, given in Table 1 and on pages 13 and 17, b y the amount of expenses and realized losses
charged off.
30
FEDERAL DEPOSIT INSURANCE CORPORATION
As soon as a disbursement in connection with a closed or merged
bank is made the Corporation sets up a reserve to cover the loss which
its appraisals indicate will result from the transaction. This reserve
is deducted from the surplus and appropriate asset accounts in pre
senting the statement of condition. Periodically, the assets purchased
or held as collateral are reappraised, and the progress of the liquidation
of banks in receivership is reviewed. Reserves are then revised in
accordance with the information obtained.
T a b le 1 2.
C
COMPARATIVE BALANCE SHEET OF THE FEDERAL DEPOSIT INSURANCE
o r p o r a t io n ,
D
ecem ber
31, 1940,
and
D
31, 1939
ecem ber
1940
1939
ASSETS
Assets acquired through bank suspensions and mergers:
Subrogated claims of depositors against closed insured banks........ $ 36,012,128.94
Net balances of depositors in closed insured banks pending settle
ment or not claimed, to be subrogated when paid— con tra .........
360,512.94
Loans to merging insured banks to avert deposit insurance losses.
58,981,488.18
Assets purchased from merging insured banks, to avert deposit
insurance losses, under agreements to return any excess recovery
39,360,309.98
Assets purchased from merging insured banks and receivers of
1,098,827.16
$135,813,267.20
Less: Reserve for losses..........................................................................
43,641,093.81
$ 92,172,173.39
$ 38,798,794.90
2,796,026.59
57,366,066.44
802,991.62
$ 99,763,879.55
35,533,139.86
$ 64,230,739.69
Cash on hand and on deposit.................................................................
20,460,790.83
28,276,433.37
United States Government securities (cost less reserve for
amortization of premiums) and accrued interest receivable. . . .
384,513,854.80
363,542,301.83
Furniture, fixtures, and equipm ent....................................................
1.00
1.00
Deferred charges and miscellaneous assets......................................
61,872.29
64,251.66
Total assets............................................................................ $497,208,692.31
$456,113,727.55
L IA B IL IT IE S
Current liabilities:
Accounts and assessment rebates payable............................................ $
Earnest money deposits and collections in suspense, arising from
subrogated claims of depositors, loans to merging insured banks,
and assets purchased..............................................................................
Net balances of depositors in closed insured banks pending settle
ment or not claimed— contra...............................................................
Unused credits for assessments paid to temporary Federal
Deposit Insurance funds and prepaid assessments..............
Deferred credits............................................................................................
90,810.45
$
289,113.00
672,703.30
209,678.02
360,512.94
2,796,026.59
1,696.48
2,583.76
362.41
Reserve for administrative expenses....................................................
11,250.72
Reserve for deposit insurance expenses..............................................
97,775.51
T otal liabilities.................................................................... $
1,223,861.09
C A P IT A L
Capital stock :
United States............................................................................................... $150,000,000.00
Federal Reserve ban ks...............................................................................
139,299,556.99
$289,299,556.99
94,353.44
$
3,403,005.53
$150,000,000.00
139,299,556.99
$289,299,556.99
Surplus— (see Table 1 1 )..............................................................................
206,685,274.23
163.,411,165.03
Total capital.........................................................................
$495,984,831.22
$452,710,722.02
Total liabilities and capital............................................ $497,208,692.31
$456,113,727.55
31
OPERATING STATEMENT OF THE CORPORATION
Assets and liabilities. Condensed balance sheets of the Corpora
tion as of December 31, 1939, and December 31, 1940, are given in
Table 12.
Audit. In accordance with the Corporation's policy of having an
annual independent audit, the accounts as of June 30, 1940, were
audited by Arthur Andersen & Co. The balance sheet of the Corpo
ration as of that date, together with the auditor's certificate, is given
in Table 13.
T a b le 13.
AUDITORS’ REPORT
ARTHUR ANDERSEN & CO.
6 7 W a l l S thf.b t
Ne w Y o r k
To
the
B o a r d o f D ir e c t o r s ,
F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t i o n :
We have examined the balance sheet of the Federal Deposit Insurance Corpo
ration as of June 30, 1940, including the related statement of income and expenses
for the year ended that date, which statement of income and expenses is summarized
under the surplus account in the balance sheet. In connection therewith we have
examined or tested accounting records and other supporting evidence of the Corpo
ration maintained in the Washington office (except records of the Corporation as
Receiver for certain closed insured banks) and have reviewed the system of internal
control and the accounting procedures by methods and to the extent we deemed
appropriate, but we did not make a detailed audit of the transactions. Collateral
to loans to merging insured banks and sub collateral thereto, and evidences of owner
ship of assets purchased from insured banks, which for the most part were held by
Liquidating Agents of the Corporation at June 30, 1940, were not examined by us
but we reviewed reports as of recent dates prepared by the Corporation’s internal
audit department or inventories with respect to recent loans or assets purchased
prepared by the Corporation’s examiners, covering their verification of such items.
In our opinion the accompanying balance sheet fairly presents the financial
position of the Federal Deposit Insurance Corporation at June 30, 1940, and the
results of its operations for the year ended that date.
(,Signed) A r t h u r A n d e r s e n & Co.
New York, N. Y.,
October 5, 1940.
T a b l e 13 .
FEDERAL
A u d it o r s ' R e p o r t — C o n tin u e d
DEPOSIT
INSURANCE
CORPORATION
BALANCE SHEET— JUNE 30, 1940
ASSETS
LIABILITIES
$ 19,368,725.53
Cash on hand and on deposit.
805,955.39
Capital stock, without nominal or par value (nonvoting and
not entitled to the payment of dividends)—
Held by—
United States G overnm ent................................................. $150,000,000.00
Federal Reserve banks.........................................................
139,299,556.99
$289,299,556.99
63,843,041.79
25,759,605.82
677,987.20
419,383.53
$130,156,510.66
39,209,069.65
90,947,441.01
16,690,481.49
Surplus—
Balance, June 30, 1939............................. $135,182,610.78
Net increase in surplus for the year
ended June 30, 1940—
Income—
Deposit insurance assessments. . . . $ 43,265,380.46
Interest earned and net profit from
sales of United States Govern
ment securities (less provision for
9,504,443.69
amortization of premiums) ............
Interest received on settled loans to
merging insured banks and sub
rogated claims of depositors........
45,384.15
$ 52,815,208.30
6,302.30
140,267.91
$
4,275,000.00
6,001,787.30
CORPORATION
Capital stock and surplus (The entire capital stock and surplus
constitutes a reserve for future deposit insurance losses and related
expenses with respect to insured banks. It is estimated that the
insured deposits in operating insured banks at June 30, 191+0,
amounted to approximately $27 billion):
$ 38,650,536.93
505,025.43
805,955.39
INSURANCE
Less— Reserve for losses......................
Funds deposited for consum m ation
of com m itm en t to purchase
assets from an insured bank
upon its fulfillm ent of certain
conditions (Note 2 ) ........................
348,489,672.87
269,236.27
DEPOSIT
Assets acquired through bank sus
pensions and mergers (less col
lections) :
Subrogated claims of depositors
against closed insured banks..........
N et balances of depositors in closed
insured banks, pending final settle
ment or not claimed, to be subro
gated when paid— per con tra .........
Loans to merging insured banks to
reduce or avert deposit insurance
losses, including recoverable liqui
dation expenses (Note 1 ) ................
Assets purchased from merging in
sured banks to reduce or avert
deposit insurance losses, including
recoverable liquidation expenses,
under agreements to return any
excess recovery to selling banks
(Note 1 ) ................................................
Assets purchased from merging in
sured banks to reduce or avert
deposit insurance losses...................
Assets purchased from receivers of
closed insured ban ks........................
$347,198,632.53
1,291,040.34
$
FEDERAL
United States Government Securi
ties and accrued interest re
ceivable thereon:
United States Government securities,
$3^5,567,350 principal amount—
stated at cost ($31+8,537,836.18) less
reserve for amortization of premiums
{$1,339,203.65)..................................
Accrued interest receivable.................
Liabilities:
Accounts payable...............................................................................
Earnest money deposits and unapplied collections applicable
to loans to merging insured banks and assets purchased. . .
Net balances of depositors in closed insured banks, pending
final settlement or not claimed— per contra............................
Unused credits for assessments paid to Temporary Federal
Deposit Insurance Funds and prepaid assessments...............
Accrued expenses................................................................................
Reserve for loss on assets to be acquired under terms of com
mitment to purchase assets from an insured bank upon its
fulfillment of certain conditions (Note 2 ) ................................
Total liabilities....................................................................
Furniture, fixtures, and equipm ent
— Nominal value................................
1.00
Expenses—
Deposit insurance losses and ex
penses (Note § ) .............................. $
Administrative expenses...................
Furniture, fixtures, and equipment
purchased........................................
$
4,258,546.70
3,370,466.47
104,231.62
7,733,244.79
Deferred charges and m lscellaneo:receivables.........................................
69,596.68
$475,565,918.58
Balance, June 30, 1940..................... . . .
Total capital stock and surplus:
180,264,574.29
469,564,131.28
$475,565,918.58
OF THE
CORPORATION
(4) Under the provisions of section 12B of the Federal Reserve A ct, as amended by Title I of the Banking A ct of 1935 (subsection “ o” ), the Corporation is authorized and
empowered to issue and to have outstanding its notes, debentures, bonds, or other such obligations, in a par amount aggregating not more than $974,601,472.83.
The Secretary of the Treasury, in his discretion, is authorized to purchase any such obligations of the Corporation and is authorized and directed to purchase obligations
of the Corporation in an amount not to exceed $250,000,000 par value whenever in the judgment of the Board of Directors of the Corporation additional funds are required for
insurance purposes.
The Reconstruction Finance Corporation, as provided in subsection (b) of section 5e of the Reconstruction Finance Corporation A ct, as amended, is authorized and directed
to purchase at par value such obligations of the Corporation as are authorized to be issued, upon request of the Board of Directors of the Corporation, provided that the R econstruction Finance Corporation shall not purchase or hold at any time said obligations in excess of $250,000,000 par value. If the Reconstruction Finance Corporation fails
for any reason to purchase any of the obligations of the Corporation, the Secretary of the Treasury is authorized and directed to purchase such obligations in an amount equal
to the amount of such obligations the Reconstruction Finance Corporation so fails to purchase.
STATEMENT
N O TE S:
(1) Loans to merging insured banks are evidenced by demand notes bearing interest at the rate of 4 % per annum and the Corporation is entitled to a return of 4% per
with respect to its investments in assets purchased from merging insured banks under agreements to return any excess recoveries to the selling banks. Accrued interest
receivable and accrued allowable return on the above at June 30, 1940, aggregated $5,143,194.39, which was carried by the Corporation in memorandum accounts and is not
included in the foregoing balance sheet.
A t June 30, 1940, the Board of Directors had authorized the purchase of assets, under special agreements, from four insured banks, subject to certain terms and conditions,
in amounts not to exceed $2,600,000.00 in the aggregate.
(2) As of June 30, 1940, the Corporation had deposited $16,690,481.49 in a special account for the purchase of assets from an insured bank, subject to certain terms and
conditions. A reserve was provided as of June 30, 1940, for the estimated loss of $4,275,000.00 in the liquidation of these assets and the surplus of the Corporation was reduced
b y this amount by the inclusion of a provision for this loss with other deposit insurance losses and expenses. The purchase of these assets was consummated on September 14,
1940, under an agreement to return any excess recovery to the selling bank.
(3) The Corporation from time to time revises its estimates of probable deposit insurance losses and expenses when appraisals are completed or reappraisals are made, and
follows the practice of carrying direct to surplus the adjustments of the reserve for losses insofar as such adjustments relate to assets acquired through bank suspensions and
mergers which occurred in a prior period. In the accompanying balance sheet, such adjustments (amounting to a net credit of $6,604,822.86) have been transferred to the related
expense account. Deposit insurance losses and expenses shown on the foregoing balance sheet include the following:
Amounts with respect to assets acquired through bank suspensions and mergers which occurred in the year ended June 30, 1940............... $ 6,588,369.56
Provision for loss on assets to be acquired under terms of commitment to purchase assets from an insured bank (See Note 2 ) ......................
4,275,000.00
$10,863,369.56
Less— Adjustments of deposit insurance losses and expenses with respect to assets acquired through bank suspensions and mergers which
occurred in prior years..............................................................................................................................................................................................................
6,604,822.86
T o ta l............................................................................................................................................................................................................................. $ 4,258,546.70
arm n m
OPERATING
N et increase in surplus for the year
ended June 30, 1940..................... $ 45,081,963.51
CO
CO
PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
C o m m e r c ia l B a n k i n g O f f ic e s
Banking offices in operation. The number of commercial
banking offices in operation in the United States and possessions was
reduced from 18,095 on December 31,1939, to 17,992 on December 31,
1940, a net reduction for the year of 103. The number of offices
of branch banking systems increased by 51 over the year period,
while the number of unit banks declined by 154. The changes during
1940 in the number of unit banks, the number of banks operating
branches, and the number of branches are shown in Table 14.
Table 14.
U
n it e d
Sta te s
and
NUMBER OF COMMERCIAL BANKING OFFICES IN THE
P
o s s e s s io n s ,
D
ecem ber
31, 1940,
and
Dec. 31,
1940
D
ecem ber
Dec. 31,
1939
31, 1939
Change
T o ta l o f fi c e s ......................................................................................
17,992
18,095
-103
Banks...............................................................................................
14,399
14,534
-135
-15U
Unit banks..................................................................................
18,1+25
13,579
Banks operating more than one office.................................
97It
955
+19
Branches or additional offices....................................................
3,593
3,561
+ 32
Detailed figures for 191+0— See Table 103, page 96.
Unit banks comprise about three-fourths of the commercial banking
offices of the country, and hold nearly one-half of the deposits. Unit
banks predominate in the smaller centers and in centers in which
there are less than nine banking offices; on June 29, 1940, over
four-fifths of the banking offices located in centers of less than 10,000
were unit banks. In contrast, branches predominate in the larger
centers; in centers with a population of 50,000 or more, over two-thirds
were offices of banks operating branches. Seven-eighths of the
branches in these larger centers were located in the same center as
the head office. Comparisons of unit and branch banks according
to population of center and number of banking offices in the center
are shown in Table 15.
Insured banks. The Federal Deposit Insurance Corporation was
insuring deposits in 13,442 of the 14,399 commercial banks in operation
on December 31, 1940. These banks held $63 billion of deposits,
or 97 percent of the deposits of all commercial banks. The number
of commercial banks insured was reduced by 96 during the year,
representing the excess of terminations of insurance through merger,
liquidation, and suspension over admissions to insurance of newly
organized or previously noninsured banks.
37
38
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 15.
B
PERCENTAGE OF COMMERCIAL B AN K IN G OFFICES IN OPERATION
e l o n g in g
in
to
B
centers
ranch
B
grouped
a n k in g
Sy st e m s, Ju n e
a c c o r d in g
to
29, 1940
p o p u l a t io n
AND NUMBER OF BANKING OFFICES IN CENTER
In centers with population of—
In all
centers
In all c e n t e r s ...................................................
1
2
3
9
In ce n te rs w ith —
banking office..............................................
banking offices............................................
to 8 banking offices...................................
or more banking offices............................
Less
than
1,000
1,000
to
10,000
10,000
to
50,000
50,000
or
more
25.2%
15.3%
15.4%
21.6%
6 8.4%
16.9
12.8
24.6
75.3
15.9
8.4
11.1
18.3
12.7
13.1
26.2
16.3
23.1
66.7
20.0
30.0
40.8
75.4
Detailed figures— See Table 109, page 118.
The changes during the year 1940 were similar in character to
those which have taken place each year over the last five years.
The most important source of change in the number of banks over
the period has been mergers, consolidations, and absorptions. The
reduction in number of banks over the period has resulted in the
elimination of most of the weak or uneconomic banks admitted to
insurance in the Temporary Fund. Changes in the number of
insured banks, excluding those which offset each other, since January
1, 1936, were due to the following causes:
Admission of banks beginning deposit operations. . .
Admission of operating noninsured banks................
Terminations of insurance..........................................
Suspension of banks—not reopened..........................
Mergers, consolidations, and absorptions—net re
duction .....................................................................
Other liquidations.......................................................
Net change......................................................
+165
+139
--11
-188
-627
-162
-684
A s s e t s a n d L i a b il it ie s o f I n s u r e d C o m m e r c ia l B a n k s
On December 31, 1940, total assets of insured commercial banks
amounted to nearly $71 billion, the highest figure ever reported.
Total assets were $7.6 billion larger in amount at the close than at
the beginning of the year, the largest increase recorded in any 12month period since the beginning of deposit insurance. The principal
types of assets of insured commercial banks as of the middle and
close of each year of Federal insurance of deposits are shown in
Chart A.
ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS
39
CHART A
PRIN CIPA L A S S E T S
OF INSURED COMMERCIAL BANKS
CALL DATES, 1934-1940
BILLIONS OF DOLLARS
BILLIONS OF DOLLARS
C h a n g e s in a ssets a n d lia b ilitie s d u r in g 1940. The growth
in assets during 1940 reflected chiefly a substantial inflow of gold
and the expanded program of national defense started in the spring
of the year. The effect of the gold inflow upon the banking system
appears in large part in the $2.6 billion increase in holdings of cash
and of reserves with the Federal Reserve banks. The progress of
the defense program and the industrial expansion accompanying it
are reflected in an increase of $1.5 billion in holdings of Government
securities, a growth of $1.5 billion in loans, and an increase in float—
items in process of collection—of about $1 billion.
The expansion of liabilities was chiefly in demand deposits of
individuals, partnerships, and corporations which increased by more
than $5 billion over the year period. Interbank deposits increased
by $1 billion and time deposits by $0.5 billion. Total capital accounts
of all insured banks remained practically unchanged in amount over
the period, and the ratio of total capital accounts to book value of
assets was reduced from 10.3 percent at the beginning to 9.4 percent
at the close of the year.
40
FEDERAL DEPOSIT INSURANCE CORPORATION
Changes in assets and liabilities of operating insured commercial
banks from December 30, 1939, to December 31, 1940, are shown in
Table 16.
T a b le 16.
A
ssets
D
AND LIA BILITIE S OF OPERATING INSURED COMM ERCIAL B A N K S
ecem ber
31, 1940,
and
D
ecem ber
30 , 1939
(Amounts in millions of dollars)
Amount
Change
Dec. 31,
1940
Dec. 30,
1939
Amount
15,227
8,216
2,847
12,671
7,344
1,861
+ 2,556
+872
+986
+20
+ 12
+ 53
17,065
7,099
18,398
1,534
334
70,720
15,568
6,860
16,866
1,657
320
63,147
+ 1,497
+ 23 9
+ 1,532
-123
+ 14
+ 7,573
+ 10
+ 3
+ 9
-7
+4
+ 12
Deposits of other American banks.......................................
Other demand deposits...........................................................
Other time deposits..................................................................
Total deposits.................................................................
9,830
38,040
15,600
63,470
8,761
32,238
15,077
56,076
+ 1,069
+ 5,802
+ 523
+ 7 ,394
+12
+ 18
+3
+ 13
Miscellaneous liabilities...........................................................
Total capital accounts.............................................................
Total liabilities and capital accounts.................
577
6,673
70,720
546
6,525
63,147
+ 31
+ 148
+ 7,573
+ 6
+2
+ 12
Percent
ASSETS
Cash and reserves with Federal Reserve banks................
Balances with other banks.....................................................
Items in process of collection................................................
U. S. Government obligations, direct and fully guaran
teed......................................................................................
Other securities.........................................................................
Loans, discounts, and overdrafts..........................................
Fixed assets................................................................................
Miscellaneous assets.................................................................
Total assets.....................................................................
LIABILITIES AND CAPITAL
Detailed figures— See Table 119, page 144.
Analysis of loans. Loans increased by $1.5 billion during the
year of which $900 million occurred in business loans. Loans reported
as “ all other loans,” which represent principally personal and con
sumer loans, part of which are repaid on an instalment basis, increased
by $400 million. Residential real estate loans, almost one-half of
which are represented by loans insured under Title II of the National
Housing Act, increased by $300 million. Agricultural loans also
increased, while loans for the purpose of purchasing and carrying
securities were reduced in volume. The major part of the expansion
in total loans was in the second half of the year and was greater
than for any other 6-month period since the beginning of the
Federal deposit insurance system. This rapid growth probably
reflected for the most part acceleration of the defense program.
Instalm ent consumer loans. Comprehensive data on instal
ment consumer loans of banks became available in 1940 for the first
time through a special questionnaire addressed to insured banks by
the Federal supervisory agencies.
ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS
41
Holdings of these loans—personal instalment loans and retail
instalment paper—reported by 11,551, or 86 percent of all insured
commercial banks on December 31, 1940, amounted to $1,469 million.
The remaining 1,868 insured commercial banks reported that they
held no personal instalment consumer loans.1 Slightly more than
one-half of the amount outstanding represented unpaid balances
of instalment loans arising from the retail sale of and secured by
specific articles, such as automobiles, trucks, tractors, household
appliances, furniture, clothing, and jewelry.2 Nearly one-fifth of the
total represented unpaid balances on property improvement loans
made under the provisions of Title I of the National Housing Act.
The remainder consisted of the unpaid balances on other personal
instalment loans—the so-called "cash loans” made directly by banks
to their customers, the proceeds of which were used for the most part
for general personal expenditures.
For all insured commercial banks instalment consumer loans
averaged 8.0 percent of total loans held. This ratio exhibited a wide
variation geographically, ranging from 2.9 percent in Rhode Island
to 18.4 percent in Oregon. In general, the ratios of instalment
consumer loans to total loans were higher in the western than in
the eastern States and were higher among banks in the smaller centers
than among those in the larger centers.
Among the 6,934 banks submitting reports on personal and retail
instalment paper to the Federal Deposit Insurance Corporation,
instalment consumer loans ranged from less than 1 percent to 100
percent and averaged about 12 percent of total loans. There ap
peared to be no relationship between the size of bank and the pro
portion of such loans held. The banks with larger proportions of
loans in the form of instalment consumer loans showed higher average
rates of income on loans. This influence was particularly marked
in the case of those banks with more than 60 percent of total loans
in the form of instalment consumer loans. A majority of the banks
in this group, which concentrate on the small personal loan financing
business, are generally spoken of as “ industrial” banks.
Comparable figures for 1939 are available only for retail instalment
paper. This category, which on December 31, 1940, constituted
approximately one-half of instalment consumer loans of the banks,
showed an increase during 1940 of $235 million, or 43 percent, and
rose from 3.2 percent to 4.2 percent of total loans. The banks in
the larger centers showed the largest proportionate increases in their
holdings of retail instalment paper. However, the banks in the
smaller centers continued to have a larger proportion of their total
1 Exclusive of 23 banks from which reports were not received.
2 One-third of these loans were made directly to the banks’ customers while two-thirds represented
retail paper purchased from dealers and merchants.
42
FEDERAL DEPOSIT INSURANCE CORPORATION
loans in the form of retail instalment paper than did the banks in
the larger centers.
D is tr ib u tio n o f a sse ts. Data for all commercial banks show
that during the past twenty years the asset composition of the banking
system has undergone significant change. Chart B shows that the
proportion of cash and of United States Government obligations held
has increased substantially since the 1920's, whereas the proportion of
loans has decreased materially.1 A percentage distribution of assets
and liabilities for the middle of 1920,1929, and 1937, and for December
31, 1940, is shown in Table 17.
CHART B
PERCENTAGE DISTRIBUTION OF ASSETS - ALL COMMERCIAL BANKS
1919 -194 0
1920
1922
1924
1926
1928
1930
1932
1934
1936
1938
1940
>919-1934 APPROXIMATE JUNE 3 0 DATES; 19 35 -1 9 4 0 JUNE 3 0 AND DECEMBER 31 DATES.
The dates chosen for comparison are fairly representative of three
periods of substantial business activity during the interim between
the two world wars. Total assets of all commercial banks in the
United States and its possessions amounted to $73.1 billion on Decem
ber 31, 1940, as compared with $56.9 billion on June 30, 1937, $61.7
billion in the middle of 1929, and $47.2 billion in 1920. Although
total bank assets, on December 31,1940, were higher than at any other
period, the amount of loans outstanding was still about one-half
of the amount in 1929. The percentage of loans was less than on
any of the earlier selected dates. Holdings of Government securities
were nearly four times the amount held by commercial banks in
1 Data for Chart B for June 30 of each year, 1920 to 1935, are assets and liabilities of all active
banks, Annual Report of the Comptroller of the Currency, 191>0, p. 320, adjusted to exclude mutual sav
ings banks; data for other dates from Table 118, page 140.
43
CONDITION OF INSURED COMMERCIAL BANKS
1929. Cash and amounts due from banks constituted over one-third
of the total assets of the banking system at the close of 1940, more
than double the proportions for 1920 and 1929.
Table 17.
PERCENTAGE DISTRIB U TION OF ASSETS AND L IA B IL IT IE S,
1920, 1929, 1937,
and
1940
ALL OPERATING COMMERCIAL BANKS IN THE UNITED STATES AND POSSESSIONS
June 30,
1920
June 29,
1929
June 30,
1937
Dec. 31,
1940
14.7%
8.0
14.0
57.7
5.6
100.0
26.4%
25.7
13.2
30.7
4.0
100.0
37.1%
24.3
10.1
25.8
2.7
100.0
79.3
6.6
14.1
100.0
86.9
1.3
11.8
100.0
89.7
.8
9.5
100.0
ASSETS
17.2%
Cash and amounts due from banks.....................................
Obligations of U. S. G overnm
7.9 ent
.........................................
Other securities.........................................................................
10.1
Loans and discounts................................................................
59.6
Fixed and miscellaneous assets.............................................
5.2
T o ta l a sse ts.....................................................................
100.0
LIABILITIES AND CAPITAL
Total deposits............................................................................
Miscellaneous liabilities...........................................................
Total capital accounts.............................................................
T o ta l liab ilities a n d ca p ita l a c c o u n t s .................
77.4
10.9
11.7
100.0
Source— See footnote 1, on page 42.
The growth in assets was at a more rapid rate than the additions
to the banks' capital accounts and the ratio of total capital accounts
to book value of assets, at 9.5 percent on December 31, 1940, was
lower than at any other time of record.
C o n d it io n o f I n s u r e d C o m m e r c ia l B a n k s
Examinations of insured commercial banks conducted during
1940 reveal continued improvement in the quality of the assets held
by the banks. However, the capital accounts of the banks are not
keeping pace with the growth of the banks’ assets, and substantial
reductions have occurred in capital ratios. This situation may
become aggravated by credit expansion resulting from the defense
effort.
Analysis of assets. Total assets of 13,437 insured commercial
banks examined in 1940 were valued on their books at $65.2 billion.1
The assets were appraised in the reports of examinations at $65.0
billion, or 99.7 percent of book value. Slightly less than 4 percent
of the assets were of substandard quality. The data are shown in
Table 18.
1 The number of insured commercial banks for which data of examinations were available and
tabulated is about 100 less than the total number of insured commercial banks operating during part or
all of the year. The data tabulated include figures for about 150 banks, with deposits of $3.7 billion,
examined in the closing months of 1939, for which reports of examinations in 1940 were not available.
For banks included and explanation of terms, see Explanatory N ote to Part Five, pages 85 to 88.
44
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 18.
APPRA ISAL OF ASSETS OF INSURED COMMERCIAL B A N K S
E
x a m in e d
in
1940
Amounts per $100 of book value
B ook
value
(in bil
lions of
dollars)
T o t a l a ss e ts .......................................................
$65.2
Cash and due from banks...........................
Securities.........................................................
L oans................................................................
Fixed assets.....................................................
Miscellaneous assets.....................................
23.3
22.8
17.0
1.6
.5
Appraised value
Examiners’
deductions
(net)
Total
j
Sub
standard
N ot
criticized
$0.34
$99.66
$3.92
$95.74
.26
.66
3.17
*-.87
100.00
99.74
99.34
96.83
100.87
4.56
6.18
27.91
3.08
100.00
95.18
93.16
68.92
97.79
1 Excess of net sound banking values not on books over examiners’ deductions.
Detailed figures— See Table 129 to 132, pages 168 to 183.
The appraised value of each type of asset represented a higher
percentage of book value in the examinations made during 1940 than
in the examinations of preceding years. In addition, the proportions
of each of the principal types of non-cash assets considered to be of
substandard quality were less than in preceding years. This im
provement in quality has been continuous throughout the seven years
of deposit insurance.1 There was also a reduction, in 1940 as com
pared with 1939, in the number of banks with substantial propor
tions of assets of fixed and substandard grade. A distribution of
the banks in 1939 and 1940 according to their fixed and substandard
assets ratios is given in Table 19.
The improvement may be attributed, in part, to the increase in
volume of uncriticized assets accompanying the continued growth
in deposits and assets. However, about one-half of the decrease
over the year in the fixed and substandard assets ratio may be at
tributed to the removal of substandard assets of about $400 million
from the books of insured banks. While a portion of this removal
resulted from the elimination of some banks through suspension,
liquidation, or merger, the major portion of the decrease occurred
through sale, liquidation, or charge-off of substandard assets held
by operating banks, and by improvement in the position of individual
obligors.
In spite of the improvement shown during the past year by nu
merous banks and by the banking system as a whole, a number of
individual banks continue to hold excessive amounts of fixed and
substandard assets. Nearly 400 banks with deposits of more than
1 Figures since 1933 covering insured commercial banks examined by the Corporation are presented
in Tables 136 and 137, pages 187 and 188. Comparable figures for banks examined by other Federal
agencies have not been compiled for the years prior to 1938 but available data indicate improvement
in the quality of assets of those banks during this period.
45
CONDITION OF INSURED COMMERCIAL BANKS
$1 billion hold fixed and substandard assets equal to more than
double the amount of their net sound capital. The amount of fixed
and substandard assets exceeds the amount of net sound capital in
about one-sixth of the insured commercial banks. These banks
hold about one-eighth of the deposits of all insured commercial banks.
The number and deposits of operating insured commercial banks
examined in 1940, grouped according to net sound capital ratio and
by fixed and substandard assets ratio, appear in Tables 133 and 134,
pages 184 and 185.
Table 19.
I nsured
PERCENTAGE DISTRIBUTION OF NUMBER AND DEPOSITS OF
C o m m e r c ia l B
an k s,
E
x a m in a t io n s
1940
in
and
1939
BANKS GROUPED BY FIXED AND SUBSTANDARD ASSETS RATIO
Number of banks
1940
1939
Deposits
1940
1939
100.0%
100.0%
100.0%
100.0%
Banks with fixed and substandard assets per
$100 of appraised value of assets of—
$0.00.........................................................................
$0.01 to $4.99................................................................
$5.00 to $9.99...............................................................
.3
37.5
33.3
.3
28.7
31.7
.2
59.7
27.3
.2
43.5
36.9
$10.00 to $14.99...........................................................
$15.00 to $19.99.............................................................
$20.00 or more..............................................................
15.7
7.5
5.7
19.3
10.0
10.0
7.4
3.2
2.2
10.0
5.6
3.8
All b an k s..........................................................................
Detailed figures for 19UO— See Tables 133 and 134, pages 184 and 185.
Analysis of capital accounts. At the time of their 1940 exami
nations, the insured commercial banks had net sound capital of
$6.3 billion, as compared with $6.2 billion shown by 1939 examinations.
The net sound capital, as revealed by 1940 examinations, amounted
to approximately 96.5 percent of total capital accounts, as compared
with 95.2 percent in the preceding year.
As a result of the rapid growth in total assets, however, net sound
capital amounted to only 9.7 percent of the appraised value of assets
as compared with 10.6 percent in 1939.1 Investment of the Re
construction Finance Corporation in the preferred capital of banks
amounted to $437 million (retirable value), or 0.6 percent of the ap
praised value of assets. Net sound private capital amounted to
9.1 percent of the appraised value of assets.
The decline in capital ratios from 1939 to 1940 represents a con
tinuation of the trend which has been in evidence since 1936 due
1 In view of the further rapid increase in deposits and assets of insured commercial banks during the
latter part of the year 1940, it is estimated that the ratio of net sound capital to appraised value of assets
showed a further decrease subsequent to the date of the examinations, which were made throughout the
year, so that net sound capital of all the banks probably approximated 9 percent of appraised value of
their assets as of December 31, 1940.
46
FEDERAL DEPOSIT INSURANCE CORPORATION
to the growth in deposits and assets at a more rapid rate than the
growth in capital accounts. Over this period two conflicting develop
ments have been in evidence. On the one hand, the number of
hazardous and very weak banks has been reduced. On the other
hand, more banks have fallen into the group with capital accounts
of less than 10 percent of assets.
In 1940 more than one-fifth of the banks, holding almost two-thirds
of the deposits in all insured commercial banks, had net sound capital
of less than 10 percent of the appraised value of assets. Seven of
these banks, with deposits of $39 million, had no capital at all after
adjustment for estimated losses and for assets of doubtful value,
and 49 other banks, with deposits of $210 million, had net sound
capital of less than 5 percent of the appraised value of assets.1 Dis
tribution of the banks according to their capital ratios in 1940 and
1939 examinations is shown in Table 20.
Table 20.
PERCENTAGE DISTRIBUTION OF NUMBER AND DEPOSITS OF
I nsured
C o m m e r c ia l B a n k s , E x a m in a t io n s
1940
in
and
1939
BANKS GROUPED BY NET SOUND CAPITAL RATIO
Number of banks
1940
1939
Deposits
1940
1939
100.0%
100.0%
100.0%
100.0%
B an ks w ith n e t s o u n d ca p ita l p er $100 o f a p
p ra ised value o f assets o f — 1
$0.00 or less...........................................................................
$0.01 to $4.99........................................................................
$5.00 to $9.99........................................................................
.1
.4
21.3
.1
.6
20.7
.1
.4
63.5
.0
.7
57.6
$10.00
$15.00
$20.00
$25.00
45.4
21.1
7.7
4.0
44.1
21.5
8.3
4.7
29.0
4.5
1.5
1.0
32.1
6.6
1.7
1.3
A ll b a n k s ..................................................................................
to
to
to
or
$14.99....................................................................
$19.99....................................................................
$24.99....................................................................
m ore......................................................................
1 In order to eliminate the influence of seasonal fluctuations in total assets upon the ratios for individual
banks, the base used in the computation of the ratio for individual banks for the most part consisted of
the estimated average, over the year period preceding the date of examination, of total assets— adjusted
for examiners’ net deductions. In view of the rapid increase in assets during the entire period covered
by this averaging process, this table tends to represent the condition of the banks— considered as a whole—
at a period close to the beginning of the respective years shown. The percentage of banks, and the per
centage of deposits of banks, with a low proportion of net sound capital as of the close of the year 1940
is probably higher than shown by this table, and, conversely, the percentage represented by banks with
a high proportion of net sound capital is probably lower.
Detailed figures for 191+0— See Tables 133 and 134, pages 184 and 185.
In general, the small banks had higher ratios of net sound capital
to appraised value of assets than did the large banks. Among the
2,615 banks with deposits of less than $250,000, only one in each
1
Between the date of the examination and the end of the year, 3 of these 56 banks had suspended
operations, 6 had been merged with financial aid of the Federal Deposit Insurance Corporation, and
action had been taken against 4 for continuing to engage in unsafe and unsound banking practices.
In 2 of the latter cases, prospective mergers were pending. In 19 of the remaining cases there was a
distinct possibility that a financial expenditure by the Corporation would be required.
In addition to the 7 banks with no net sound capital, there were 72 banks with deposits of $378
million whose 1940 examinations revealed no net sound capital except that represented by investment of
the Reconstruction Finance Corporation.
47
EARNINGS OF INSURED COMMERCIAL BANKS
thirty (3.5 percent) had a ratio of net sound capital to appraised value
of assets of less than 10 percent, and one in each three had a ratio
of 20 percent or more. Among the 546 banks with deposits of more
than $10 million each, about two-thirds had a ratio of net sound
capital to appraised value of less than 10 percent, and only ten banks
had a ratio of 20 percent or more. Deposits of these (347) large
banks with net sound capital ratios of less than 10 percent amounted
to $32 billion, or 55 percent of the deposits of all insured commercial
banks. Distributions of the number and deposits of insured com
mercial banks, grouped according to net sound capital ratio and by
fixed and substandard assets ratio, by rate of average net earnings,
and by deposits, are shown in Tables 133 and 134, pages 184 and 185.
Averages for the size groups are shown in Table 21.
Table 21.
SUBSTANDARD A SSET AND N E T SOUND C APITA L R A T IO S ,
E x a m in a t io n s
in
1940
INSURED COMMERCIAL BANKS GROUPED BY AMOUNT OF DEPOSITS
Number
of banks
Substandard
assets per
$100 of
appraised
value of
assets
N et sound capital
per $100 of—
Appraised
value of
assets
Total
capital
accounts
A ll b a n k s ..................................................................
13,437
$3.93
$9.74
$96.46
B an k s w ith d ep osits o f —
$100,000 or less....................................................
$100,000 to $250,000..........................................
$250,000 to $500,000..........................................
385
2,230
3,086
9.01
6 99
5.91
25.35
17.23
14.11
95.07
96.15
96.83
$500,000 to $1,000,000.......................................
$1,000,000 to $2,000,000....................................
$2,000,000 to $5,000,000...............•...................
3,022
2,169
1,483
5.88
6.09
6.35
13.00
12.30
11.81
95.96
94.57
94.62
$5,000,000 to $10,000,000..................................
$10,000,000 to $50,000,000................................
More than $50,000,000......................................
516
418
128
5.61
4.44
2.87
11.23
9.77
8.59
94.98
96.23
97.38
Detailed figures— See Tables 126, 128, 129, and 131, pages 162, 166, 168, and 176.
E a r n in g s of I n su r ed C o m m ercial B a n k s
The earnings reported by insured commercial banks in 1940 reflect
the influence of the defense program, as well as the influence of trends
which have been in evidence for a number of years. The influence
of defense activities is revealed in the character of increases in income
and expenses. The influence of previously existing trends is shown
in lowered interest rates on securities and on time deposits and in
smaller charge-offs following progressive elimination of criticized
assets. Earnings, expenses, profits, and dividends of insured com
mercial banks for each year, from 1934 to 1940, are shown in Table 22.
48
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 22.
E
a r n in g s ,
Insu red
C
E
xpen ses,
B
o m m e r c ia l
and
anks,
D
iv id e n d s
of
1934-1940
(Amounts in millions of dollars)
1934
1935
1936
1937
1938
1939
1940
Gross current operating earnings..................
Total current operating expenses1.................
1,518
1,117
1,486
1,083
1,567
1,126
1,634
1,167
1,584
1,158
1,605
1,160
1,631
1,193
Net current operating earnings..........
401
403
441
467
426
445
438
Profits on assets sold, recoveries on assets, etc.
Losses, charge-offs, etc.....................................
292
1,033
432
628
585
502
309
395
329
455
381
438
349
386
Net profits before dividends..................
524
381
300
388
401
223
226
222
232
237
301
155
78
156
164
2-340
207
Cash dividends declared and interest paid
on capital....................................................
188
207
Net profits after dividends.....................
2-528
1 Including income taxes. The figures of total current operating expenses shown in Table 139 exclude
income taxes of banks reporting to the Corporation, except in 1934 and 1935. Since income taxes of
other banks, which represent the major portion, are not reported separately, income taxes of banks
reporting to the Corporation are included under total current operating expenses in this table.
2 Net loss.
Detailed figures— See Table 139, page 190.
Trends o f earnings and expenses. Gross current operating
earnings, total current operating expenses, and net current operating
earnings of insured commercial banks have been relatively stable,
and have shown only minor fluctuations, over the seven years of
deposit insurance.
chart
c
CURRENT OPERATING EARNINGS OF INSURED COMMERCIAL BANKS
CALENDAR YEARS, 1934- 1940
1934
1935
1936
1937
1938
1939
1940
49
EARNINGS OF INSURED COMMERCIAL BANKS
However, the major individual items of earnings and expenses have
changed considerably. The figures are presented graphically in
Charts C and D. The charts show that all items of earnings and
expenses increased during the period with the exception of interest
and dividends received on securities, and interest paid on time and
savings deposits, which decreased considerably. For the most part
the changes in earnings and expenses have been gradual over the period
except in the case of income on loans.
More than one-half of the increase in income on loans occurred
between 1939 and 1940, reflecting the expansion in the volume of
loans and discounts outstanding in these banks as a result largely
of the heightened industrial activity induced by the defense program.
Interest and dividends on securities have declined in each year since
1936.
Due to these changes in earnings and expense items, the com
position of gross current operating earnings and of total current
operating expenses changed materially over the period, 1934-1940.
Income on loans, the largest single component of income, increased
from 45 percent of gross current operating earnings in 1934 to 47
percent in 1940, while interest and dividends on securities declined
from 36 to 31 percent. Income from fees and service charges, which
includes service charges on deposit accounts as well as collection
charges and commissions on insurance policies and on servicing
mortgage loans, increased from 5 percent of gross earnings in 1934
to 8 percent in 1940. The dollar amount of increase in these charges
exceeded the decrease in income from securities and was more than
two-thirds of the increase in income from loans.
CHART D
CURRENT OPERATING EXPENSES OF INSURED COMMERCIAL BANKS
CALENDAR YEARS, 1934-1940
1934
1935
1936
1937
1938
1939
1940
50
FEDERAL DEPOSIT INSURANCE CORPORATION
Interest paid on time and savings deposits declined by over onethird and absorbed 12 percent of gross earnings in 1940 as compared
with 20 percent in 1934. This decrease was due to the reduction
in rates of interest paid depositors. The proportion of earnings
paid out in salaries and wages, the largest item of expense, increased
from 26 percent in 1934 to 30 percent in 1940, reflecting increases in
personnel as well as higher rates of compensation.
Rates of earnings and expenses. The rate of income received
on loans by insured commercial banks in 1940 was virtually unchanged
from the rate shown for 1939, but was higher than in any of the three
years, 1936-1938. The higher average rate of income received on
loans in 1939 and in 1940 was due not to a rise in rates of interest
but to changes in the composition of loans. Rates of interest on
given classes of loans—consumer loans, mortgage loans, industrial
and commercial loans—appear to have averaged lower in 1939 and
1940 than in the immediately preceding years. The higher average
rate of return on loans for the insured banks as a whole in 1939 and
1940, as compared with the three years, 1936-1938, appears to be due
to the relatively more rapid growth of instalment consumer loans
and real estate mortgage loans than of other types of loan. These
two classes of loans generally bear rates of interest above the average
for all loans of insured commercial banks. Increases in the amount
of loans have also been greatest among the banks in which rates of
interest have been above the average for the country as a whole.
Figures showing the average rates of income received on loans and
on securities and the average rates of interest paid on time and
savings deposits are presented in Table 23.
Table 23.
Interest
P a id
by
R
ates
OF INCOME R EC E IV E D AND
I n sured
C o m m e r c ia l B
an ks,
1934-1940
1934
1935
1936
1937
1938
1939
1940
Incom e on loans per $100 of total loans-----
$4.63
$4.40
$4.34
$4.28
$4.36
$4.46
$4.41
Income on securities per $100 of total
securities.....................................................
3.17
2.87
2.66
2.68
2.56
2.38
2.16
Interest paid per $100 of time and savings
deposits.......................................................
2.40
2.01
1.72
1.62
1.55
1.43
1.30
The rate of income on securities continued the decline which has
been in evidence practically without interruption since 1934, the
first year for which figures for all insured commercial banks are
available. As in earlier years the decline reflects both lower yields
on corporate and governmental obligations and increased concentra
tion of holdings of obligations of the United States Government and
51
EARNINGS OF INSURED COMMERCIAL BANKS
of States and their political subdivisions, obligations which generally
afford the lowest yields.
The rate of interest paid on time and savings deposits by insured
commercial banks declined in 1940 for the sixth consecutive year.
Average rates of interest paid by the banks on time and savings
deposits have been reduced by one-half over the seven-year period,
amounting to about one and one-quarter percent in 1940 as compared
with nearly two and one-half percent in 1934. The average rate paid
in 1940 was well below the maximum rate of two and one-half percent
permitted by Federal regulations. Distributions of insured com
mercial banks in 1940 according to rates of income on loans and rates
of interest paid on time and savings deposits, and according to other
operating ratios, are shown in Tables 142 to 149, pages 196 to 203.
Net earnings and net profits. The amount of net current
operating earnings reported by insured commercial banks has been
well sustained over the seven years of deposit insurance and has
varied between 26 and 29 percent of gross earnings. Total assets,
on the other hand, have shown considerable growth and the rate of
net earnings oi^ total assets has declined substantially during the
period. In contrast, since total capital accounts have shown only
a small growth there has been no corresponding reduction in the rate
of net earnings on total capital accounts. Rates of net earnings and
of net profits are shown in Table 24.
Table 24.
RATES OF N E T EARNINGS AND N E T PROFITS OF
I nsured
C o m m e r c ia l B
an ks,
1934-1940
N et earnings per $100 of—
Gross
earnings
Total
assets
Total
capital
accounts
N et profits per
$100 of—
Total
assets
Total
capital
accounts
1934......................................................................
$26.43
$0.89
$6.48
i$-0.75
1935......................................................................
27.12
.84
6.51
.43
3.35
1936.......................................................................
28.29
.83
7.05
.98
8.35
1937......................................................................
28.88
.86
7.40
.69
5.97
1938......................................................................
27.13
.78
6.70
.54
4.68
1939......................................................................
28.05
.75
6.94
.65
5.98
1940......................................................................
27.20
.66
6.72
.60
6.08
i$-5.48
1 Net loss.
In 1940, as in each of the two preceding years, about 39 percent
of the banks reported net earnings of $10.00 or more per $100 of
total capital accounts, approximately 60 percent reported net earnings
52
FEDERAL DEPOSIT INSURANCE CORPORATION
of less than $10.00, and slightly more than 1 percent reported net
deficits. The figures are shown in Table 25.
Table 25.
A
c c o r d in g t o
PERCENTAGE D ISTRIBU TION OF INSURED COMMERCIAL B A N K S
R
ates of
N
et
E a r n in g s
on
T
otal
All banks1..........................................................................................
C a p it a l A
ccou n ts,
1938-1940
1940
1939
1938
100.0%
100.0%
100.0%
Banks with net earnings per $100 of total capital
accounts of— 2
$-5.00 or less................................................................................
$-0.01 to $ -4.9 9 ............................................................................
.2
1.1
.1
.9
.1
1.1
$0.00 to $4.99................................................................................
$5.00 to $9.99................................................................................
$10.00 to $14.99............................................................................
16.8
42.7
26.3
16.6
43.3
26.2
16.3
42.9
25.5
$15.00 to $19.99............................................................................
$20.00 or m ore...............................................................................
9.2
3.7
9.2
3.7
10.1
4.0
1 Excludes banks submitting reports covering less than the full year’s operations or materially
affected by mergers.
2 Total capital accounts are averages of figures for call dates.
As indicated by Table 26, rates of net profits (before dividends)
among individual banks have been less stable than rates of net earnings
and have exhibited some improvement over the three-year period.
Approximately 29 percent of the banks reported net profits of $10.00
or more per $100 of total capital accounts in 1940, a higher proportion
than in either of the two preceding years. Similarly a smaller pro
portion reported net losses in 1940 than in 1939 or 1938. Distribu
tions of insured commercial banks according to rates of net earnings
and rates of net profits on total assets in 1940 and by other classifica
tions are shown in Tables 142 to 149, pages 196 to 203.
Table 26.
A
c c o r d in g
to
PERCENTAGE D ISTRIBU TION OF INSURED COMMERCIAL B A N K S
R
ates
of
N
et
P r o f it s
on
T
otal
C a p it a l A
ccou n ts,
1938-1940
1940
1939
1938
100.0%
100.0%
100.0%
Banks with net profits per $100 of total capital
accounts of— 2
$-10.00 or less................................................................................
$-5.00 to $ -9 .9 9 ............................................................................
$-0.01 to $ -4 .9 9 ............................................................................
1.3
1.5
6.2
1.6
1.8
6.0
3.3
3.4
9.3
$0.00 to $4.99................................................................................
$5.00 to $9.99................................................................................
$10.00 to $14.99............................................................................
25.7
36.7
19.6
25.6
36.9
19.4
29.3
32.0
15.4
$15.00 to $19.99............................................................................
$20.00 or m ore...............................................................................
6.3
2.7
6.2
2.5
5.2
2.1
All banks1..........................................................................................
1 Excludes banks submitting reports covering less than the full year’s operations or materially
affected by mergers.
J Total capital accounts are averages of figures for call dates.
Net charge-offs. The fluctuations in the amount of net profits
from year to year, shown in Table 22, reflect the wide variation in
EARNINGS OF INSURED COMMERCIAL BANKS
53
the amounts charged off on assets considered to be worthless or of
doubtful value, in the amounts recovered upon charged-off assets,
and in the amounts of profits from sales of securities. These variations
are presented in Chart E.1
CHART E
CHARGE-OFFS AND RECOVERIES OF INSURED COMMERCIAL BANKS
CALENDAR YEARS,
MILLIONS OF DOLLARS
1934-1940
MILLIONS OF DOLLARS
The chart shows that losses and charge-offs on assets were reduced
more than one-half between 1934 and 1937 and have fluctuated
around $400 million per year, or seven-tenths of 1 percent of total
assets, since that time. Recoveries on assets and profits on assets
sold, on the other hand, doubled between 1934 and 1936 and have
since fluctuated between $300 and $400 million, or six-tenths of
1 percent of total assets. The reduction in charge-offs during the
first three years of deposit insurance reflected chiefly the progressive
elimination of assets upon which losses had previously accumulated.
The increase in recoveries and profits on assets from 1934 to 1936
reflected three forces: (1) recoveries normally to be expected on
the unusually large amounts of loans and real estate charged off in
immediately preceding years; (2) recoveries on securities which had
been written down to excessively low levels during the crisis period;
and (3) profits on securities sold during the period of rapidly rising
bond prices.
The amounts charged off and recovered during the first three years
of deposit insurance were strongly influenced by the depression of
the early 1930’s; since 1937 amounts charged off and recovered have
1
Total recoveries and profits are presented combined in Chart E because profits on securities sold
were not reported separately in 1934 and 1935 by banks members of the Federal Reserve System. D e
preciation on banking house, furniture and fixtures is excluded. See pages 89 and 90.
54
FEDERAL DEPOSIT INSURANCE CORPORATION
shown a reasonably consistent behavior. Gross charge-offs and
recoveries on assets of insured commercial banks over the period,
1937-1940, are shown in Table 27.
Table 27.
CHARGE-OFFS AND
RECOVERIES
OF
INSURED
COMMERCIAL
BAN KS,
1937-1940
Total
A m ount (in m illions of dollars):
Charge-offs.........................................................................
R ecoveries..........................................................................
Net charge-offs..........................................................
$1,674
2680
994
Loans
Securities
All
other1
$541
278
263
$807
259
548
$326
2143
183
Annual rate 'as percentage of corresponding assets) :3
Charge-offs.........................................................................
R ecoveries..................... ....................................................
Net charge-offs..........................................................
0.71%
2.29
.42
0.82%
.42
.40
0.93%
.30
.63
Percentage of net current operating earnings:
Charge-offs.........................................................................
R ecoveries..........................................................................
Net charge-offs..........................................................
93.2%
237.9
55.3
30.1%
15.5
14.6
44.9%
14.4
30.5
18.2%
28.0
10.2
1 Depreciation on banking house, furniture and fixtures is excluded. See pages 89 and 90.
2 Includes profits on assets other than securities for banks not reporting to the Federal Deposit
Insurance Corporation.
3 The corresponding assets, to which the annual rates are related, are as follows for the respective
columns: (a) total assets; (b) total loans and discounts (including overdrafts); (c) total securities.
During the period, 1937-1940, insured commercial banks made
provision for losses at the rate of approximately seven-tenths of
1 percent of total assets, which amounted to almost the entire amount
of net current operating earnings for the period. However, recoveries
on assets previously charged off were two-fifths of the amount set
aside for losses so that net charge-offs amounted to about four-tenths
of 1 percent of average total assets. These net charge-offs amounted
to about one-half of the net current operating earnings for the past
four years.
Gross charge-offs on securities approximated 50 percent of net
earnings, amounting to nearly 1 percent annually of the gross amount
of securities outstanding. These gross charge-offs include losses
sustained on the sale of securities, provision made for losses through
establishment of valuation allowances, and lump sum charge off
of premiums on securities purchased. Recoveries of amounts pre
viously written down on securities amounted to one-third of this
gross loss; and net charge-offs on securities approximated two-thirds
of 1 percent of total securities annually.
If profits on securities are considered in combination with re
coveries, from 1937 to 1940, they exceeded the losses charged off
so that the banks as a whole were able to show net recoveries and
profits on securities. This favorable record with respect to securities
must be attributed to the rising trend in the bond market in evidence
during most of the period.
EARNINGS OF INSURED COMMERCIAL BANKS
55
Gross charge-offs on loans were somewhat lower than gross chargeoffs on securities during this period. Recoveries on loans have
exceeded 50 percent of the provision for losses since 1937, so that
net charge-offs on loans have been about four-tenths of 1 percent
annually of the average amount of loans outstanding. This is
slightly more than one-half of the estimated average rate of net
charge-offs on loans during the 20 years preceding deposit insurance.
The lower rate reflects for the most part heavy charge-offs, in 1934
and 1935, of assets impaired by the depression.
Dividends. Interest and dividends on preferred and common
capital were higher in 1940 than in any of the preceding years of
deposit insurance. The rate of return on preferred and common
capital increased from an average of 5.6 percent in 1934 to 8.2 percent
in 1940. This growth can be attributed chiefly to continuous in
creases in the average rate of dividends on common stock. In 1940
common dividends averaged 9.0 percent of the par value of common
stock, compared with 6.9 percent in 1934. The rate of interest and
dividends paid on preferred capital increased substantially in 1935
and 1936 but declined thereafter, due to the reduction of dividend
(and interest) rates by the Reconstruction Finance Corporation.
In 1940, return on preferred capital averaged 3.8 percent of book
value but only 2.9 percent of retirable value. Rates of dividends
from 1934 to 1940 are shown in Table 28.
Table 28.
R
ates
OF D
iv id e n d s
OF INSURED
Dividends
per $100 of
capital stock,
notes, and
debentures
COMMERCIAL B A N K S ,
1934-1940
Common
dividends
per $100
of common
capital
Preferred
dividends
per $100 of
preferred
capital1
Dividends
per $100 of
total
capital
accounts
$3.03
1934.............................................................................
$5.63
2$6.86
2$2.41
1935.............................................................................
6.22
27.37
23.37
3.36
1 9 3 6 ...........................................................................
6.99
28.23
23.77
3.56
3.54
1937.............................................................................
7.39
8.37
3.31
1938.............................................................................
7.38
8.33
2.90
3.47
1939.............................................................................
7.87
8.76
2.91
3.58
1940.............................................................................
8.18
8.98
2.92
3.59
1 Retirable value.
^Partly estimated since preferred and common capital were not tabulated separately for these years.
During the first two years of deposit insurance—1934 and 1935—
the banks reported substantial net charge-offs of losses previously
accumulated on assets. During 1936, the banks realized profits on
securities sold and recoveries on assets which together were in excess
of charge-offs. The excess was attributable, in part, to recoveries
56
FEDERAL DEPOSIT INSURANCE CORPORATION
on the heavy charge-offs of the preceding years and, in part, to rising
prices in the bond market. Since those three years of abnormally
large fluctuations in net profits, total interest and dividends paid
on capital have amounted to over one-half of net earnings and to
over three-fifths of net profits, During the four years, 1937-1940,
approximately three-tenths o ’ net earnings—three-eighths of net
profits—have been retained ii; the banks' capital accounts. Over
the past four years additions ^o capital accounts from net profits
after dividends have averaged about 2 percent per year of total
capital accounts.
I n su r e d M u t u a l S a v in g s B a n k s
On December 31, 1940, the Federal Deposit Insurance Corporation
was insuring deposits in 53 of the 551 mutual savings banks in the
country. The 53 banks were operating 31 branches at the close of
the year. Two banks, operating six branches, and holding deposits
of $424 million, were admitted to insurance during the year.
Insured mutual savings banks held deposits of $1.8 billion at the
end of the year, amounting to 17 percent of the $10.7 billion of deposits
in all mutual savings banks. Eight of the insured banks held deposits
of more than $50 million each, totaling $1.4 billion, or 77 percent
of the deposits in all insured mutual savings banks. The 53 insured
banks were located in 12 States. More than $1.5 billion of the
deposits were held by banks located in six eastern States.
Of the $1,984 million of assets held by insured mutual savings
banks on December 31, 1940, 30 percent were represented by real
estate loans and 2 percent by other loans and discounts. United
States Government securities held amounted to 28 percent of the
assets and other securities to 24 percent. A1 remaining assets
amounted to 16 percent of total assets.
Total capital accounts which consist, for mutual savings banks,
of surplus and reserve accounts and capital notes and debentures
decreased $20 million during the year, or from 9.1 percent to 8.1
percent of total assets. About $19 million of this decrease was due
to the excess of dividends and interest paid on deposits over net
profits; approximately $700,000 was represented by retirement of
capital notes and debentures. At the close of the year capital
notes and debentures held by the Reconstruction Finance Corporation,
in 19 banks, amounted to $7.5 million, or less than 5 percent of the
total capital accounts. Capital notes and debentures held by others
were negligible in amount.
The rate of dividends or interest paid depositors in insured mutual
savings banks has declined steadily since 1935. The following
57
INSURED MUTUAL SAVINGS BANKS
figures show the amount of dividends and interest reported during
the year as a percentage of total deposits held at the end of the year
for each year from 1935 to 1940:
1935
1936
1937
1938
1939
1940
2.26%
1.96
1.92
1.91
1.88
1.73
Table 118, page 140, shows condensed statements of assets and
liabilities of both insured and noninsured mutual savings banks for
selected call dates since 1935. Figures showing earnings, expenses,
and disposition of profits of insured mutual savings banks are pre
sented in Table 158, page 220. Due to the small number of banks,
these data, relating only to insured mutual savings banks, are not
characteristic of the condition and operations of all mutual savings
banks in the country.
PART THREE
LOSSES ON ASSETS OF COMMERCIAL BANKS, 1865-1940
L osses on A ssets
The business of banking, like other types of enterprise, involves
risk of loss. In banking, the major risk arises from the probability
that some loans will not be collected in full, and that some securities
will be defaulted or will decline in value and be disposed of at a loss.
A bank may also incur losses on other assets which come into its
possession during the normal course of business, and may suffer
shrinkage or deterioration in the value of its banking equipment
or premises. The entire amount of the losses sustained in the manner
described constitutes losses on bank assets.
Losses on bank assets are, in a sense, a part of the cost of banking
operations. A banker expects that some assets acquired will later
prove worthless, in whole or in part, and the rate of interest in effect
includes a charge to cover such losses. In the ordinary course of
business, operating banks meet these losses out of current income
along with other costs of doing business. So long as banks continue
to meet these losses regularly from current income, the actual amount
of the charge-offs affects chiefly the size of capital accounts and
the ability of the banks to declare dividends. However, when banks
fail to make adequate provision for these losses before paying dividends
the losses accumulate. If, under these circumstances, the bank
suspends operations, the accumulated losses will be borne, first, by
the stockholders, and second, by the depositors. In the past, when
the accumulated losses in a bank which was closed exceeded the
stockholders' investment, as recorded on the banks' books, each
stockholder, in most of the banks, was subject to an assessment in
amount up to the par value of the stock which he owned.1 If the
accumulated losses together with the cost of receivership exceeded
assessments collected from stockholders, losses were borne by the
depositors.
A m ount and distribution of losses. During the 76 years,
1865-1940, losses on assets of commercial banks in the United States
amounted to about $15 billion.2 This amount is the equivalent of
about 1.1 percent of deposits per year, or slightly less than 1 percent
per year of total assets.* Further details are given in Table 29.
Figures for selected periods are given in Tables 30 and 31.
1 In some States in which no double liability provisions existed stockholders of State banks were
not subject to assessment.
2 This figure includes, prior to 1934, regular depreciation on bank premises and equipment, ordinarily
considered a current operating expense, and premiums on securities purchased, ordinarily considered
a deduction from current income. Because of the character of the data available these items have not
been eliminated from the estimates.
3 In this study, annual rates of loss are expressed as percentages of total deposits to facilitate com
parison of the losses charged off from time to time by operating banks with those which were incurred
in closed banks, and might have been borne by a deposit insurance system.
61
62
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 29.
E
s t im a t e d
C o m m e r c ia l B
LOSSES ON ASSETS OF
an ks,
1865-1940
Average per
year per $100
of deposits
in operating
banks
Amount
(in millions
of dollars)
Total losses.........................................................................................................
$14,963
Charged off by operating bar k s ..................................................................
10,239
.75
Incurred in banks closed because of financial difficulties— to ta l........
4,724
.35
Borne by stockholders...................................................................................
2,U9U
.19
Borne by depositors.......................................................................................
2,230
.16
$1.10
Approximately two-thirds of the total loss, $10.2 billion, was
charged off by operating banks in the regular course of business and
was therefore met largely from the income of the banks. The re
maining one-third of the loss was incurred in the liquidation of the
assets of banks which closed because of financial difficulties.
Table 30.
ESTIMATED L
C o m m e r c ia l B a n k s ,
osses
1865-1940,
By
ON ASSETS OF
Selected
P e r io d s
(In millions of dollars)
Total
losses
1865-1940— to ta l.....................................................................
In
operating
banks
(net
chargeoffs)
In closed banks
Borne
by
stock
holders
Borne
by
depositors
14,963
10,239
2,494
2,230
20-year periods
1865-1880..............................................................................
1881-1900..............................................................................
1901-1920.............................................................................. |
1921-1940................................................................................
282
833
1,945
11,903
212
590
1,680
7,757
33
150
126
2,185
37
93
139
1,961
Prior and subsequent to Federal deposit
insurance
Prior: 1865-1933...............................................................
12,313
7,726
2,417
2,170
3,060
9,253
2,U82
5 ,2U
309
2,108
269
1,901
1865-1920..........................................................................
1921-1933..........................................................................
1934-1940.................................................... !
2,650
2,513
77
60
Insured banks................................................................... j
Noninsured banks............................................................. !
2,563
87
2 ,U 5
68
70
7
H8
12
Crisis and other years
12 crisis years2.......................................................................
Remaining 64 years............................................................. |
7,306
7,657
4,118
6,121
1,780
714
1,408
822
Subsequent:
1 Includes losses of $45 million in suspended and merged banks borne by the Federal Deposit In
surance Corporation.
2 Includes losses charged off in operating banks during 12 years in which net charge-offs amounted
to more than 1 percent of deposits; and losses to depositors and stockholders in closed banks during
12 years in which the loss to depositors amounted to more than one-fourth of 1 percent of deposits in
operating banks. The years included in the figures for charge-offs in operating banks and for losses in
closed banks are not identical but relate to the same crisis periods. Both include 4 or 5 years from the
1870’s, 1 year from the 1880’s, 2 years from the 1890’s, and 4 or 5 years from the 1930’s. The figures
for charge-offs in operating banks relate to 1876-1879, 1885, 1894, 1896, 1931-1935; those for losses in
closed banks relate to 1873, 1875-1878 1884, 1891, 1893, 1930-1933.
63
LOSSES ON ASSETS
The losses in banks closed because of financial difficulties fell in
part upon the stockholders of those banks and in part upon the
depositors. The stockholders' losses are estimated at $2.5 billion,
and the depositors’ losses at $2.2 billion.1
Table 31.
C
o m m e r c ia l
ESTIM ATED R
B an ks,
ates
1865-1940,
OF LOSS ON ASSETS OF
for
Sele cted
P e r io d s
(Average per year per $100 of deposits in operating banks)
Total
losses
In
operating
banks
(net
chargeoffs)
In closed banks
Borne
by
stock
holders
1865-1940— to ta l......................................................................
$1.10
$0.75
20-year periods
1865-1880...............................................................................
1881-1900...............................................................................
1901-1920...............................................................................
1921-1940...............................................................................
1.45
1.08
.52
1.32
1.09
.77
.45
.86
Prior and subsequent to Federal deposit
insurance
1865-1933................................................................
$1.21
$0.76
$0.24
$0.21
1865-1920...........................................................................
1921-1933...........................................................................
.66
1.67
.53
.95
.07
.38
.06
31*
1934-1940....................................................
$0.77
$0.73
$0.02
$0.02
Insured banks....................................................................
Noninsured banks............................................................
.77
.92
.73
.72
.02
.08
i .02
.12
Crisis and other years
12 crisis years2.......................................................................
Remaining 64 years.............................................................
4.05
.65
2.28
.52
.99
.06
.78
.07
Prior:
Subsequent:
$0.19
Borne
^ hydepositors
.17
.19
.03
.24 ;
$0.16
.19
.12
.04
.22
.,
1 Includes loss to the Federal Deposit Insurance Corporation in suspended and merged banks.
5 Computed on basis of deposits during years in which losses to depositors in closed banks were more
than one-fourth of 1 percent of deposits in operating banks.
The impact of losses in closed banks differs greatly from that of
charge-offs in operating banks. The latter have been absorbed
successfully by the banking system as a part of the cost of doing
business. The former, however, particularly those borne by de
positors, represent losses that were not successfully absorbed by the
banking system. The magnitude of the losses written off in operating
banks and thereby absorbed as a part of operating costs has been
nearly five times as great as the losses which fell upon depositors in
closed banks.
1
In this study, stockholders' losses in closed banks include the estimated losses on assets of closed
banks not borne by depositors, or the amount of total book capital account of the closed banks, plus
estimated collections of assessments from stockholders under the double liability provisions of law,
depending upon the nature of the data available.
The estimate of depositors’ losses in banks closed because of financial difficulties is smaller than a
similar estimate given in the Annual Report of the Federal Deposit Insurance Corporation for the year ending
December 31, 193k, p. 73, covering the 70 years, 1865-1934. The former estimate was based upon the
best data then available, and depended in part upon expected recoveries in the large number of banks
still in the process of receivership or liquidation. Most of these banks have since been fully liquidated
with a considerably better record of recoveries than was anticipated at that time, due primarily to the
rapid improvement in the banking situation and in property values.
Losses to the Federal Deposit Insurance Corporation on account of subrogated claims of depositors
in insured banks placed in receivership, and on account of financial aid to merged banks, are included in
the present estimate of losses to depositors in banks closed because of financial difficulties.
64
FEDERAL DEPOSIT INSURANCE CORPORATION
The earnings and dividend record of the banking system indicates
that the losses which fell upon depositors of closed banks could have
been absorbed had their accumulation been prevented and had some
method been developed to spread over the entire banking system
those which could not have been avoided. Improvement in stand
ards of banking operations and banking supervision is designed to
accomplish the former. The protection afforded by the Federal
Deposit Insurance Corporation is designed to accomplish the latter
by application of the well-established principle of insurance.
Losses not covered by the estimate. The foregoing estimate
of losses on bank assets does not take into account certain items.
These omitted items are primarily of two sorts: (1) losses incurred
by depositors and stockholders of banks merged with or taken over
by other banks to avoid formal suspension or receivership; and
(2) losses incurred by depositors, officers, and stockholders in the
form of deposit waivers, contributions, or purchase of assets from
the banks at more than their liquidating value, in so far as such
losses were not covered by reported charge-offs. Information re
garding these losses is so incomplete that estimates of their magnitude
have not been made. It is believed, however, that these losses have
been substantial.
Concentration of losses during crisis periods. The losses on
bank assets have varied in amount from year to year and from period
to period. Approximately one-half of the total loss during the entire
76 years was incurred in four periods of banking crisis.
The concentration of loss in crisis periods is most pronounced in
the case of losses in banks closed because of financial difficulties.
Approximately two-thirds of the total loss to depositors over the
entire 76-year period was incurred in banks which closed during
12 years, in each of which the depositors' losses amounted to onefourth of 1 percent, or more, of deposits in operating banks. The
12 years include five years in the 1870's, one year in the 1880's, two
years in the 1890's, and four years in the early 1930's.1 The annual
rates of loss to depositors in banks closed during the entire 76-year
period ranged from less than one hundredth of 1 percent of deposits
in operating banks in certain years to more than 2 percent in 1933.
The losses written off by operating banks also show concentration
during periods of financial crisis and during the years immediately
following such crises, although not to the same extent as losses in
closed banks. It is estimated that over 40 percent of the total net
charge-offs during the entire 76-year period occurred during 12 years
in which the annual rate of such charge-offs was more than 1 percent
of deposits. These 12 years include four years in the 1870's, one
* 1873, 1875-1878, 1884, 1891, 1893, 1930-1933.
DEPOSITORS' LOSSES
65
year in the 1880’s, two years in the 1890's, and five years in the
1930,s.1 The annual range of net charge-offs for the entire 76-year
period was from one-third of 1 percent of deposits in 1940 to 3 percent
in 1933.
R a te s o f lo ss d u r in g p o s t-c r is is a n d w a r tim e p e rio d s. Periods
of severe financial crisis, in which a large proportion of weak banks
was eliminated, have been followed by periods in which failures were
relatively few and losses to depositors relatively slight. Failures
were also relatively few and losses to depositors relatively slight
during the period of rapid expansion of credit and rising prices from
1915 to 1920 accompanying and following the World War.
During four 5-year post-crisis and wartime periods prior to Federal
insurance of deposits (1879-1883, 1885-1889, 1898-1902, 1915-1919)
the average annual rate of loss to depositors on account of bank
failures was only a very small fraction of the rate of loss during crisis
periods, and was less than one-half the rate of loss in the remaining
non-crisis years.
Charge-offs in operating banks, on the other hand, have generally
been at a high rate in the years immediately following banking crises.
Losses b y y ears, 1921-1940. Estimates of losses charged off in
operating banks, and of depositors' losses in closed banks, for each
year during the period, 1921-1940, are given in Table 32.
D epo sitors ' L osses
One of the purposes underlying the preparation of these estimates
is to provide an approximation of the losses which would have fallen
upon a deposit insurance fund operating in a manner similar to the
operations of the Federal Deposit Insurance Corporation.
The losses which would have fallen upon a central guaranty or
insurance fund during the past 76 years cannot be measured solely
by the losses estimated to have been incurred directly by depositors
in closed banks. On the one hand, a substantial part of the recoveries
to depositors was made possible by assessments upon stockholders.
For the most part, such assessments have now been eliminated
through modification or removal of double liability provisions of
law. Losses borne by depositors of banks in financial difficulties
which were merged or absorbed to avoid formal suspension or re
ceivership also would have fallen upon an insurance fund operating
in the manner of the Federal Deposit Insurance Corporation.2 It
is also believed that stockholders would have been less willing to
contribute to the restoration of solvency and that depositors would
1 1876-1879, 1885, 1894, 1896, 1931-1935.
2 Mergers of this type are now made, for the most part, with the financial aid of the Federal Deposit
Insurance Corporation.
66
FEDERAL DEPOSIT INSURANCE CORPORATION
have been less willing to accept waivers of parts of their deposit
claims to permit reorganization of banks in financial difficulties had
an insurance agency been in existence to absorb the loss. On the
other hand, a Federal deposit insurance system, particularly if ac
companied by adequate bank supervision and borrowing facilities,
presumably would have exerted a stabilizing effect upon the banking
system and thus would have reduced both the frequency of bank
failures and the magnitude of losses on bank assets. With an ade
quately implemented deposit insurance system, panic withdrawals
by depositors would have been forestalled, and liquidation of bank
assets at sacrifice prices would have been greatly reduced if not wholly
avoided. No reasonable estimate can be made of the extent to which
these diverse influences might have affected either the amount of
losses on assets of operating banks, or the amount of losses incurred
by depositors in closed banks, during the 76-year period.
Table 32.
E
C o m m e r c ia l B
N
s t im a t e d
anks
and
C o m m e r c ia l B
L
C h ar g e-offs
et
osses
an ks,
to
D
in
O p e r a t in g
e p o s it o r s
1921-1940,
by
Y
in
C losed
ears
(In millions of dollars)
Year
Average
deposits in
operating
banks
Net
charge-offs
in operating
banks1
Deposits in
closed banks
Losses to depositors in
closed banks
On deposit
balances not ex
ceeding $5,000
Total
1921............................
1922............................
1923............................
1924............................
1925............................
34,011
35,891
38,430
41,776
44,808
328
249
221
217
201
173
91
150
210
167
60
38
62
79
61
49
34
55
68
53
1926............................
1927............................
1928............................
1929............................
1930............................
46,475
48,397
50,293
50,398
49,489
220
237
241
314
423
260
199
142
231
837
83
61
44
77
237
72
51
38
64
158
1931............................
1932............................
1933............................
1934............................
1935............................
44,687
36,668
33,252
37,482
42,796
722
909
962
902
416
1,690
706
3,597
37
14
391
168
540
10
4
288
132
344
8
3
1936............................
1937............................
1938............................
1939............................
1940............................
48,125
48,932
49,345
54,912
61,374
192
211
308
281
203
28
34
59
159
144
4
5
5
18
14
4
5
5
16
14
1 Includes depreciation on bank premises and equipment for the years, 1921-1933; excludes such
depreciation for 1934-1940.
A m ount of depositors’ losses and stockholders’ assessments.
Assessments collected from stockholders of closed commercial banks
during the 76-year period are estimated at approximately $0.5 billion.
In the absence of stockholders' assessments, the total losses to de
positors in commercial banks closed because of financial difficulties
DEPOSITORS’ LOSSES
67
would have amounted, it is estimated, to $2.7 billion, an average
annual rate of one-fifth of 1 percent of deposits in operating banks.
This is the rate of assessment upon the deposits of operating banks
which it is estimated would have been required to meet all depositors'
losses in closed banks during the 76-year period, 1865-1940, without
making allowance for any improvement resulting from the existence
of a deposit insurance system.
Approximately three-fourths of the losses to depositors were in
curred on deposit balances not exceeding $5,000, and one-fourth on
deposit balances over this sum. Consequently, the rate of assessment
necessary to have covered the losses on deposit accounts not exceeding
$5,000, in the absence of stockholders' double liability and disregarding
the stabilizing effects of deposit insurance, would have been $0.15
for $100 of deposits in operating banks—or nearly twice the rate of
assessment under the present system of deposit insurance.
The distributions of losses to depositors and of collections from
stockholders for selected periods are given in Tables 33 and 34.
Rates of loss during crisis and post-crisis periods. Because
of the high concentration of bank failures in periods of business
depression, the annual rate of loss to depositors in closed banks is
subject to wide variations. The average annual rate of loss during
the 12 years in which failures were primarily concentrated, together
with the additional loss which would have fallen upon depositors
had there been no assessments on stockholders, was $0.97 for each
$100 of average deposits in operating banks. During the 64 remaining
years the loss which depositors would have suffered in the absence
of stockholders' double liability was equal to $0.08 per year on each
$100 of deposits in operating banks or about one-twelfth of 1 percent
per annum. The equivalent loss for non-crisis years on deposit
balances up to $5,000 was one-fourteenth of 1 percent per year of
deposits in all operating commercial banks.
In contrast, in four 5-year post-crisis and wartime periods prior
to Federal insurance of deposits, the rate of loss on all deposits in
closed banks amounted only to $0.03 for each $100 of deposits in
operating banks. During the first five years of deposit insurance
the corresponding figure was only $0,013, the lowest of any period.1
This lower rate may be attributed in part to the stabilizing influence of
deposit insurance and the increased effectiveness of banking super
vision, and in part to the severity of the crisis of the early 1930's and
the accompanying elimination of a larger proportion of unsatisfactory
assets from the banking system than was eliminated during former
banking crises.
1 This figure includes losses to depositors in both noninsured and insured banks, and also losses to
the Federal Deposit Insurance Corporation on account of deposits it has paid and the financial aid it has
extended to facilitate the merger of insolvent banks.
Table 33.
E s tim a te d L o s s e s t o D e p o s it o r s a n d A ss e s s m e n ts C o l l e c t e d fr o m S t o c k h o ld e r s
in C o m m e r c ia l B a n k s C lo s e d B e c a u se o f F in a n c ia l D i f f i c u l t i e s ,
1865-1940
(In millions of dollars)
On
balances
exceeding
$5,000
On
balances not
exceeding
$5,000
Total
Proportionate shares on—
On
balances
exceeding
$5,000
Balances not
exceeding
$5,000
Total
Balances
exceeding
$5,000
1865-1940— to ta l......................................................
2,691
2,041
650
2,230
1,694
536
461
347
114
20-year periods
1865-1880.................................................................
1881-1900.................................................................
1901-1920.................................................................
1921-1940.................................................................
42
116
161
2,372
36
99
141
1,765
6
17
20
607
37
93
139
1,961
32
79
122
1,461
5
14
17
500
5
23
22
411
4
20
19
304
1
3
3
107
Prior and subsequent to Federal
deposit insurance
1865-1933..................................................
DEPOSIT
2,629
1,986
643
2,170
1,640
530
459
346
113
1865-1920............................................................
1921-1933.............................................................
319
2,310
276
1,710
h3
600
269
1,901
233
1,U07
36
m
50
U09
U3
303
7
106
INSURANCE
FEDERAL
On
balances not
exceeding
$5,000
Total
Assessments collected from stockholders
T
xjuooco tu ucpuaitwio
Losses to depositors plus assessments
collected from stockholders
Prior:
62
55
7
60
54
6
2
1
(2)
U9
13
U6
9
3
U
U8
12
U5
9
3
3
1
1
1
(2)
(2)
(2)
Crisis and other years
12 crisis years3........................................................
Remaining 64 years..............................................
1,747
944
1,220
821
527
123
1,408
822
983
711
425
111
339
122
237
110
102
12
Post-crisis and wartime periods
Four 5-year periods prior to deposit insur
ance— tota l.....................................................
61
53
8
52
45
7
9
8
1
1879-1883............................................................
1885-1889.............................................................
1898-1902.............................................................
1915-1919................... ' ......................................
8
11
17
25
7
9
u
23
1
2
3
2
7
9
n
22
6
7
12
20
1
2
2
2
1
2
3
3
1
2
2
3
(2)
(2)
(2)
(2)
One 5-year period subsequent to deposit in
surance: 1934-1938.......................................
30
26
4
28
24
4
2
1
(2)
1 Includes losses of $45 million in suspended and merged banks borne by the Federal Deposit Insurance Corporation.
2 Less than $500,000.
* See footnote 2, Table 30.
CORPORATION
1934-19401....................................
Insured banks1....................................................
Noninsured b a n k s.............................................
Subsequent:
Table 34.
E s tim a te d RATES OF LOSS TO DEPOSITORS AND OF ASSESSMENTS COLLECTED FROM STOCKHOLDERS
in C o m m e rcia l B a n k s C lo s e d B e c a u s e o f F in a n c ia l D i f f i c u l t i e s ,
1865-1940
(Average per year per $100 of deposits in operating banks)
Losses to depositors plus assessments
collected from stockholders
On
balances not
exceeding
$5,000
Total
On
balances
exceeding
$5,000
Assessments collected from stockholders
T
Proportionate shares on—
On
balances not
exceeding
$5,000
Total
On
balances
exceeding
$5,000
Total
Balances not
exceeding
$5,000
Balances
exceeding
$5,000
1865-1940— to ta l......................................................
$0.20
$0.15
$0.05
$0.16
$0.12
$0.04
$0.04
$0.03
20-year periods
1865-1880.................................................................
1881-1900.................................................................
1901-1920.................................................................
1921-1940.................................................................
.21
.15
.05
.26
.18
.13
.04
.19
.03
.02
.01
.07
.19
.12
.04
.22
.16
.10
.03
.16
.03
.02
.01
.06
.02
.03
.01
.04
.02
.03
.01
.03
(x)
0)
.01
.26
.19
.06
.21
.16
.05
.05
.03
.01
.07
.U2
.06
.31
.01
.11
.06
,3U
.05
.25
.01
.09
.01
.07
.01
.05
0)
.02
1865-1920............................................................
1921-1933............................................................
Subsequent:
0)
19 34-19402....................................
.02
.02
0)
.02
.02
0)
(x)
i1)
0)
Insured banks2...................................................
Noninsured banks..............................................
.02
.13
.02
.10
0)
.03
.02
.12
.02
.09
0)
.03
0)
.01
0)
.01
0)
C1)
Crisis and other years
12 crisis years3........................................................
Remaining 64 years..............................................
.97
.08
.68
.07
.29
.01
.78
.07
.55
.06
.23
.01
.19
.01
.13
.01
.06
0)
Post-crisis and wartime periods
Four 5-year periods prior to deposit insur
ance— tota l.....................................................
.03
.03
(*)
.03
.03
(1)
C1)
.08
.07
.Ok
.02
.07
.06
M
.02
.01
.01
(!)
0)
.07
.06
.03
.02
.06
.05
.03
.02
.01
.01
0)
i1)
.01
.01
.01
C1)
.01
.01
.01
0)
0)
C1)
0)
0)
.01
.01
(*)
.01
.01
0)
0)
0)
0)
1879-1883............................................................
1885-1889............................................................
1898-1902............................................................
1915-1919............................................................
One 5-year period subsequent to deposit in
surance: 1934-1938 .......................................
1 Less than one-half of one cent.
2 Includes loss to the Federal Deposit Insurance Corporation in suspended and merged banks.
3 See footnote 2, Table 31.
(x)
d epo sito rs ' losses
Prior and subsequent to Federal
deposit insurance
1865-1933.................................................
Prior:
$0.01
70
FEDERAL DEPOSIT INSURANCE CORPORATION
The low rate of loss incurred during the years since the beginning
of deposit insurance cannot be considered typical of the burden which
the Corporation may be expected to bear in the future. This burden
will depend upon a number of largely unpredictable developments,
notably: the frequency and extent of economic crises; the adequacy
of supervisory and other methods in preparing the banking system
for adverse developments; the nature of bank assets; and the level
of capital ratios. In so far as capital ratios are concerned, it is im
portant to note that present levels are below those prevailing during
any of the 76 years prior to 1940. Had the capital ratios been as
low in the past as they are now, stockholders would have borne a
smaller proportion and depositors a larger proportion of the losses
in closed banks.
M e th o d o f E stim a tin g L o sse s on A s s e t s o f
C om m ercial B an k s,
1865-1940
A description of the data and methods used in estimating losses
on assets of operating and closed commercial banks, with detailed
tables, is available upon request. A summary is given below of the
methods employed and the character of the data used, together with
a brief appraisal of the accuracy and reliability of the estimates.
Methods of estimation. The estimates have been prepared by
four general methods: (a) use, with relatively minor adjustments,
of information reported to or collected by Federal bank supervisory
authorities; (b) use of similar data subjected to substantial adjust
ments; (c) use of data from samples of varying degrees of repre
sentativeness; (d) use of assumptions regarding rates of loss in certain
groups of banks or certain periods of time in comparison with those
in other groups of banks or other periods of time. The amounts
of loss derived by these four methods of estimation are given in
Table 35 separately for losses charged off in operating banks, losses
borne by depositors in closed banks, and losses borne by stockholders
in closed banks.
Losses published or reported by Federal bank supervisory
authorities. The estimates of loss derived from information re
ported to or collected by Federal bank supervisory authorities and
used with relatively minor adjustments cover the following proportions
of the total losses on commercial bank assets during the 76-year
period: 66 percent of the estimated net charge-offs in operating
banks, 19 percent of the estimated losses borne by depositors in
closed banks, and 70 percent of the estimated losses borne by stock
holders in closed banks. To what extent these reported published
data fail to reveal the facts is not known. They are presumably
71
METHOD OF ESTIMATING LOSSES
correct except for errors of reporting and tabulation, and errors
resulting from necessary minor adjustments. Both of these types
of error appear to be of minor importance.
Table 35.
C
D
o m m e r c ia l
is t r ib u t io n
B
an k s,
of
E
s t im a t e d
1865-1940,
by
M
L
osses
ethod
A
on
of
E
ssets
of
s t im a t io n
(In millions of dollars)
Loss derived or estimated from—
Total
Data reported to
or collected by
bank supervisory
authorities
Sample
data
W ith
minor
adjust
ments
T o t a l e s tim a te d lo s s e s .................................
N et ch a r g e -o ffs b y o p e ra tin g b a n k s—
t o t a l ........................................................
Insured banks, 1934-1940.......................
Noninsured banks, 1934-1940................
National banks, 1918-1933.....................
State banks members F. R. System,
1918-1933................................................
Commercial banks not members F. R.
System, 1918-1933................................
National banks, 1876-1917.....................
National banks, 1865-1875.....................
State and private banks, 1865-1917. . .
L osses in closed b a n k s b o rn e b y d e
p o sito rs — t o t a l ....................................
Insured banks, 1934-1940.......................
Noninsured banks, 1934-1940................
National banks permanently closed,
1865-1933................................................
State and private banks permanently
closed, 1865-1933..................................
Banks reopened, succeeded, or taken
over, 1921-1933......................................
Banks reopened, succeeded, or taken
over, 1865-1920.....................................
L osses in closed b a n k s b o rn e b y s t o c k
h old ers— t o t a l .....................................
Insured banks, 1934-1940.......................
Noninsured banks, 1934-1940................
National banks, 1865-1933.....................
State and private banks, 1865-1933. . .
With sub
stantial
adjust
ments
1,021
14,962
10,239
2,445
68
2,987
6,727
2,445
1,295
1,295
2,130
68
2,987
1,487
72
864
421
48
1,766
373
1,402
1,402
364
364
31
31
2,493
70
7
794
1,622
43
‘i2‘
12
373
2,913
2,491
1,021
1,487
1,021
72
864
2,230
48
Data for
other
periods
or groups
of banks
1,750
70
364
379
7
794
1886
‘ 372’
1
Includes reported value of capital stock of banks closed, 1921-1933, on which recoveries are assumed
to have been negligible.
The data collected by national bank supervisory authorities and
subjected to substantial adjustments cover 9 percent of the estimated
net charge-offs in operating banks during the entire period, and relate
to the losses charged off by operating national banks during the years,
1876-1917. Data published for those years by the Comptroller of
the Currency refer to gross charge-offs, with no figures for recoveries.
On the basis of information available for the period, 1918-1933, it
has been assumed that one-fourth of the amounts charged off were
subsequently recovered. If the rate of recovery during the period,
72
FEDERAL DEPOSIT INSURANCE CORPORATION
1876-1917, were one-half that of the period, 1918-1933, the estimats
of all net charge-offs in operating banks would understate actual
charge-offs by about ^ percent.
13
Losses estimated from sample data. Estimates of loss based
upon sample data cover 79 percent of the losses borne by depositors
in closed banks, and 15 percent of losses to stockholders in closed
banks, during the 76-year period.
The bulk of depositors' losses estimated from sample data occurred
in State banks closed during 1921-1933. For this period fairly
accurate and reliable data for about 30 percent of the State banks
permanently closed are available in reports of State banking super
visory authorities or in schedules prepared for the Federal Reserve
Committee on Branch, Group, and Chain Banking. However, the
banks for which results of liquidation are available are not an evenly
distributed sample of all closed banks grouped by year of suspension,
region, amount of deposits, or other criteria. Because of this situa
tion, six different estimates of total depositors' losses were prepared
by various methods of applying the results of the sample to the data
for all State and private banks permanently closed. These six
estimates were based on the following groupings of the sample data,
listed in the order of magnitude of the total estimated losses derived
therefrom: (a) eight geographic regions; (b) two periods (1921-1930
and 1931-1933) and eight geographic regions; (c) two periods (19211930 and 1931-1933); (d) year of closing; (e) year of closing and amount
of deposits (the estimate finally selected); and (f) eight geographic
regions and amount of deposits. The range in these various estimates
was from 8 percent above to 1 percent below the estimate selected.
Since the losses to depositors in State and private banks perma
nently closed during 1921-1933 constituted more than one-half of
the total loss to depositors in all banks closed during the entire
period, these variations are equivalent, respectively, to errors of
understatement of approximately 4 Y i percent, and of overstatement
of one-half of 1 percent, in the estimate of total depositors' losses
during the entire 76-year period.
Losses estimated from data for other periods or groups of
banks. Estimates based upon assumptions regarding rates of loss
in certain groups of banks or certain periods of time in comparison
with those in other groups of banks or other periods of time apply
to 25 percent of the total estimated net charge-offs in operating banks,
2 percent of the total estimated losses to depositors in closed banks,
and 15 percent of the total estimated losses to stockholders.
The bulk of the loss estimated by this general method represents
net charge-offs by operating banks not members of the Federal
METHOD OF ESTIMATING LOSSES
73
Reserve System, 1918-1933, and by all operating State and private
banks, 1865-1917. The rate of loss charged off by the former group
of banks was assumed to have been nine-tenths of the rate charged
off each year by country national banks during the same period.
The assumed rate was based upon relationships among rates of loss
shown by various classes of banks during that period and during the
period, 1934-1940. In the operating State and private banks, 18651917, the rate of loss was estimated at eight-tenths of the annual
rate of estimated net charge-offs in national banks. There is no
valid basis for determining the margin of error in these estimates.
However, an error of 25 percent for both groups of banks would
not affect the estimated net charge-offs of all operating commercial
banks during the entire 76-year period by more than 6 percent.
Reliability of estimates. To summarize briefly, the errors in
each of the three estimates for the entire period—losses charged off
in operating banks, depositors' losses in closed banks, and stockholders'
losses in closed banks—are probably less than 10 percent. Because
of omissions, the estimates of losses are likely to be low rather than
high. The estimated net charge-offs in operating banks include,
for the period, 1865-1933, normal depreciation on bank premises
and equipment, ordinarily considered a normal current expense of
doing business, and amortization of premiums, ordinarily considered
a deduction from income. These two items probably do not exceed
10 percent of the net charge-offs of operating banks during the period.
For the period, 1934-1940, amortizations of premiums are excluded
as are all charge-offs on bank premises and equipment whether
recurring or extraordinary (except for extraordinary charge-offs,
during the period, 1936-1940, of insured banks submitting reports to
the Corporation, which are not reported separately).
Total deposits in operating banks. Total deposits in operating
banks are estimated primarily from call reports for two or more dates
a year submitted by operating banks to Federal bank supervisory
agencies. This method applies to deposits in national banks during
the entire 76-year period, to deposits in banks members of the Federal
Reserve System during the period, 1918-1940, and to deposits in
insured State banks not members of the Federal Reserve System
during the period, 1934-1940.
Deposits for the State banks not obtained in this way are based
upon data collected by this Corporation for noninsured banks in
recent years, data from compilations published in the annual reports
of the Comptroller of the Currency, deposits reported on tax returns
or estimated from tax collections during the period, 1865-1883, and
deposits for individual banks shown in bankers' directories.
PART FOUR
LEGISLATION
Le g is l a t io n R e l a t in g t o I n su r e d B a n k s
AMENDMENT TO FEDERAL STATUTE CONCERNING
ROBBERY OF A BANK
[P u b l i c —
No.
685— 76 t h C o n g r e s s ]
[C h a p t e r 4 5 5 — 3 d S e s s i o n ]
[H. R. 8399]
AN ACT
To prohibit the receipt, possession, or disposition of money or property feloniously
taken from a bank organized or operating under the laws of the United States
or any member of the Federal Reserve System.
Be it enacted by the Senate and House of Representatives of the United States of
America in Congress assembled, That section 2 of the Act of May 18, 1934, entitled
“ An Act to provide punishment for certain offenses committed against banks or
ganized or operating under laws of the United States or any member of the Federal
Reserve System” (48 Stat. 783; U. S. C., title 12, sec. 588b), as amended, be further
amended by adding thereto the following subsection:
“ (c) Whoever shall receive, possess, conceal, store, barter, sell, or dispose of any
property or money or other thing of value knowing the same to have been taken
from a bank in violation of subsection (a) of this section shall be fined not more
than $5,000 or imprisoned not more than ten years, or both.”
Approved, June 29, 1940.
77
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
E XP LA N A TO R Y NOTES
Sources of Data
Data relating to national banks and State banks in the District of Columbia
were obtained from the Comptroller of the Currency or the Board of Governors
of the Federal Reserve System, and data relating to State banks members of the
Federal Reserve System from the Board of Governors of the Federal Reserve
System, with the following exceptions: (1) analysis of examinations, the data of
which were compiled by this Corporation from reports submitted by the Comptroller
of the Currency and the Board of Governors of the Federal Reserve System and
reviewed by the Corporation; and (2) data relating to suspensions, receiverships,
and mergers with the financial aid of the Federal Deposit Insurance Corporation,
wiiich were obtained from the records of the Corporation.
Data relating to insured banks not members of the Federal Reserve System were
obtained from the banks themselves or from the records of the Federal Deposit
Insurance Corporation.
Data relating to noninsured banks were obtained from the Board of Governors
of the Federal Reserve System, State banking authorities, Rand McNally Bankers
Directory, and Polk’s Bankers Encyclopedia.
Classification of Banks and Banking Offices
Insured banks include all operating banks insured by the Federal Deposit
Insurance Corporation; noninsured banks include all banks not so insured.
Commercial banks include the following categories of banks:
All operating national banks;
All incorporated State banks, trust companies, and banks and trust com
panies, regularly engaged in the business of receiving deposits, whether demand
or time, except mutual savings banks and, in New Hampshire, guaranty
savings banks;
All stock savings banks, excluding guaranty savings banks in New Hampshire;
Banks in conservatorship or operating under restrictions, provided they
are authorized to and in fact do accept new deposits, regardless of the char
acter of the restrictions imposed on the operations of the bank;
Such industrial and Morris Plan banks as operate under general banking
codes or operate under the same codes of law as insured industrial banks;
Branches of foreign banks which engage in a general deposit business;
Cash depositories;
Private banks under State supervision, and such other private banks as
are reported by reliable unofficial sources to be engaged in deposit banking;
All insured trust companies, even though not engaged in regular deposit
banking;
Branches of American and foreign banks maintained in the possessions
to do a general deposit business. (Where more than one branch is maintained
81
82
FEDERAL DEPOSIT INSURANCE CORPORATION
by a given bank in any one possession the chief or central office is classified
as a bank and the other offices as branches).
M utual savings banks include all banks operating under special State banking
codes applying to mutual savings banks, including all guaranty savings banks in
New Hampshire.
Unit banks include all banks operating only one office at which deposits are
received or checks cashed.
Branches include all offices, other than head offices, of banks operating more
than one office at which deposits are received or checks cashed, and all offices,
other than head offices, of insured trust companies not engaged in deposit bankingThe term “ branch” is used in accordance with the definition in paragraph (15)»
subsection (c) of section 12B of the Federal Reserve Act, as amended, which is
as follows:
“ The term ‘branch’ includes any branch bank, branch office,
agency, additional office, or any branch place of business located
State of the United States or in Hawaii, Alaska, Puerto Rico,
Virgin Islands at which deposits are received or checks paid or
lent.”
branch
in any
or the
money
Institutions excluded. Figures for operating banks do not include institutions
in the following categories, though such institutions may perform many of the
same functions as banks:
Banks which have suspended operations or have ceased to accept new
deposits and are proceeding to liquidate their assets and pay off existing de
posits, regardless of the amount of deposit liability still remaining and regardless
of whether they are listed among operating banks or included in abstracts
of condition of banks published by State banking authorities;
Building and loan associations, savings and loan associations, credit unions,
personal loan companies, and similar institutions, chartered under special laws
applying to such institutions or under general incorporation laws, 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
commonly understood;
A few special institutions chartered under general banking laws, but oper
ating as mortgage or investment companies and not engaged in deposit banking;
Federal Reserve banks and other banks, such as the Savings and Loan
Bank of the State of New York, which operate as rediscount banks and do
not accept deposits from the general public.
EXPLANATORY NOTES
83
Population o f Center and Number of Offices
Classification of centers according to population is based, for incorporated places,
upon the 1930 census of population and for unincorporated places upon figures
published in Rand NcNally Bankers Directory.
The number of banking offices in the center is the number of commercial banking
offices operating on June 29.
Deposits of Banks and Banking Offices
Deposit data for operating insured banks are
obtained from two separate sources: (1) deposit figures in Tables 113-124, and
used for classifying insured banks by size groups in Tables 105-112, are from reports
of condition submitted by the banks for the dates indicated; and deposit figures
in Tables 150-157, and used for classifying insured banks by size groups in Tables
142-148, are averages of the figures from reports of condition for call dates; (2) deposit
figures in Tables 125-134, and in Table 138, summarizing the reports of examinations
of banks, are for the respective dates on which each bank was examined.
Operating insured banks.
In Annual Reports of the Corporation for 1935 to 1938, inclusive, deposit liabilities
reported by insured banks on certified statements submitted for the purpose of
computing the deposit insurance assessment were used in tables showing deposits
of banking offices. Deposit liabilities reported on certified statements include,
in addition to deposits shown on reports of condition, outstanding drafts and
uninvested trust funds held in the bank’s own trust department, and exclude a
portion of cashiers’ and officers’ checks outstanding. Total deposit liabilities
reported on certified statements exceed total deposits shown on reports of condition
by an amount estimated at less than 2 percent.
In determining the amount of insurance assessment, the banks have claimed
deductions of about 4 percent of total deposit liabilities. Therefore, the amount
of deposits on which the insurance assessment is based is approximately 4 percent
less than total deposit liabilities reported on certified statements, and approximately
2 percent less than the amount of deposits shown on reports of condition.
Deposits shown in reports of examination are defined in the same way as those
shown on reports of condition. In adjusting figures for examiners’ appraisals,
deposit liabilities not shown on the bank’s books are added to deposits shown on
the books.
Offices of insured banks operating branches. Deposits for branches and
head offices of banks operating branches in Table 113, and used in classifying such
offices by size in Table 105, are from special reports by banks operating branches.
Total deposits for each branch system correspond to the deposit figure shown on
the bank’s report of condition.
Noninsured banks. Deposits of noninsured banks are from published figures
or from reports received from State banking authorities, and are based on reports
of condition submitted by the banks to State authorities or to bankers’ directories.
Figures refer to June 30 and December 31 or nearest available dates.
Figures for branches and head offices of noninsured banks operating branches
are not available separately.
Suspended and merged banks and banks in receivership. Deposit figures
for insured banks in Tables 159-169, relating to suspensions, receiverships, and
mergers with the financial aid of the Corporation, are from the records of the Cor
poration with respect to such banks, and refer to the date of suspension or merger.
84
FEDERAL DEPOSIT INSURANCE CORPORATION
Deposit figures for banks in receivership as shown by the books of the Corporation,
December 31, 1940, given in Tables 170 and 171, differ from those shown by the
books of the banks at date of suspension, given in Table 169, because of reclassi
fication of liabilities and discovery of additional liabilities during liquidation.
Banks Examined by, and Subm itting Reports to, the
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation regularly examines, and receives
call reports of assets and liabilities, and of earnings and dividends, from all insured
banks which are not members of the Federal Reserve System, except State banks
in the District of Columbia and national banks in the possessions. The latter
groups of banks are examined by and report to the Comptroller of the Currency.
The designations “ Banks submitting reports to the Federal Deposit Insurance
Corporation,” used in Tables 122-124 and 150-157, and “ Banks examined by the
Federal Deposit Insurance Corporation,” used in Tables 135-138, are more accurate
than the caption, “ Banks not members of the Federal Reserve System,” used in
comparable tables in previous Annual Reports.
Assets and Liabilities of Operating Banks
Assets and liabilities of insured banks, in Tables 118-124, are tabulated from
reports of condition submitted to Federal supervisory authorities: to the Comptroller
of the Currency by all national banks, and by State banks located in the District
of Columbia; to the Board of Governors of the Federal Reserve System by State
banks members of that system; and to the Federal Deposit Insurance Corporation
by all other insured State banks. Instructions provided to insured banks by the
Federal supervisory authorities for the preparation of reports of condition are
essentially uniform. Copies of the instructions issued to banks submitting reports
to the Federal Deposit Insurance Corporation are available upon request.
Assets and liabilities of noninsured banks are from published figures or from
reports received from State banking authorities, and are based on reports of con
dition submitted by the banks to State authorities or to bankers’ directories.
Statements of assets and liabilities are submitted by insured commercial banks
upon either a cash or an accrual basis, depending upon the bank’s method of book
keeping. Assets and liabilities held in or administered by a savings, bond, in
surance, real estate, foreign, or any other department of a bank, except a trust
department, are consolidated with the respective assets and liabilities of the com
mercial department. Trust funds deposited by a trust department in a commercial
or savings department are reported as “ Deposits of individuals, partnerships, and
corporations.” Other assets held in trust are not included in statements of
assets and liabilities. In the case of banks with one or more domestic branches,
the assets and liabilities reported are consolidations of figures for the head office
and all domestic branches. In the case of a bank with foreign branches, net amounts
due from its own foreign branches are included in “ Other assets,” and net amounts
due to its own foreign branches are included in “ Other liabilities.”
Assets reported represent aggregate book value, on the date of call, less valuation
allowances, and, in the case of securities, less reserves for bond premiums. Re
ciprocal bank balances are reported gross. Instalment loans are ordinarily reported
net if the instalment payments are applied directly to the reduction of the loan.
Such loans are reported gross if, under contract, the payments do not immediately
reduce the unpaid balances of the loan but are assigned or pledged to assure re
payment at maturity.
85
EXPLANATORY NOTES
Total deposits. All funds received by a bank in the course of its commercial
or fiduciary business (except funds in payment of obligations to the bank) give
rise to demand or time deposit liabilities and are classified under total deposits,
unless the funds are received as trust funds which the bank keeps segregated and
apart from its general assets.
Analysis of Examinations of Insured Commercial Banks
Data for Tables 125-134, relating to the analysis of examinations of all insured
commercial banks in 1940, are derived from the reports of examinations made by
the Comptroller of the Currency in the case of national banks and of State banks
in the District of Columbia, by the Federal Reserve banks in the case of State
banks members of the Federal Reserve System, and by the Federal Deposit In
surance Corporation in the case of other insured State banks.1
Figures relating to commercial banks examined by the Federal Deposit Insurance
Corporation covering the period 1933 to 1940 are presented in Tables 135-138.
Examination procedures of the Federal bank supervisory authorities and of numerous
State banking authorities were revised in 1938 so that the data for 1939 and 1940
are not strictly comparable with data for 1937 and earlier years. Data for banks
examined by the Federal Deposit Insurance Corporation are shown for 1938 on
both the original and the uniform or revised basis.2
Banks included. The tabulations have been prepared from reports of examina
tions available during the year and do not cover precisely the banks examined
during the year. In cases in which 1940 examinations were not made or were not
available, figures for banks examined in the closing months of 1939 were included
in the 1940 tabulations. Figures for about 100 insured banks operating throughout
or during a part of the year were not included in the tabulations, since reports
of examination were, for various reasons, not available for tabulation. The number
and deposits of insured commercial banks included in the 1940 tabulations, dis
tributed according to month of examination, are shown below.
Month of
examination
All b an ks..........................................................................
Banks examined in :
1939
October-D ecem ber.......................................................
1940
January..........................................................................
February........................................................................
M arch.............................................................................
A pril................................................................................
M a y .................................................................................
June.................................................................................
J u ly..................................................................................
A ugust............................................................................
Septem ber......................................................................
O ctober...........................................................................
N ovem ber......................................................................
D ecem ber.......................................................................
Number
of banks
Total deposits (in
millions of dollars)
13,437
57,920
146
3,708
1,211
1,130
1,250
1,296
1,440
1,344
914
1,101
1,203
1,198
862
342
5,037
4,417
5,865
4,344
6,083
7,546
2,179
2,805
6,312
6,344
2,825
455
Ratios for individual banks. The base used in the computation of ratios
to the appraised value of assets for each individual bank consists, for the most
part, of the estimated average value of assets over the year period preceding the
date of examination. This method was adopted in order to eliminate the influence
1 Similar tables relating to the analysis of examinations of all insured commercial banks in 1939
were published in the Annual Report of the Corporation for that year. Corresponding tabulations for
earlier years have not been made, except for banks examined by the Corporation.
2 For a discussion of the differences between the uniform procedure and the procedure previously
followed by the Corporation in analyzing and valuing assets in examination reports, see the Annual
Report of the Federal Deposit Insurance Corporation for the Year Ending December SI, 1938, pages 61-78.
86
FEDERAL DEPOSIT INSURANCE CORPORATION
of seasonal fluctuations in total assets upon the ratios of individual banks. How
ever, in view of the rapid increase in total assets during the entire period covered
by this averaging process for 1940 data, the ratios tend to represent the condition
of the banks— considered as a whole— at a time close to the beginning of the year.
Explanation of term s. The principal terms and methods used, under the
uniform procedure, in the tables relating to analysis of examinations of bank assets
and capital accounts are described below.
Book value, applied to total assets, loans, securities, fixed assets, and miscel
laneous assets, refers to the values (net, after deduction of valuation allowances and,
in the case of securities, of premium allowances) carried by each bank on its books
at the time of examination.
Appraised value of total assets, loans, securities, fixed assets, and miscellaneous
assets, represents the value of assets as determined by the examiners. For ex
planation of method of valuing securities see the Annual Report of the Federal
Deposit Insurance Corporation for the Year Ending December 31, 1938, pages
64-68. The term “ appraised value” corresponds in meaning to the term “ adjusted
value” used in the Annual Report of the Corporation for 1938, and to the term
“ net sound value” used in the Annual Reports of the Corporation for 1935 and 1934.
Examiners’ deductions (net) from assets represent the amount by wThich the
examiners’ evaluation of each bank’s assets is less than the value carried by the
bank on its books.
The deductions are derived from the examiners’ evaluation of the assets classified
on the basis of eventual collectibility. In the case of assets other than securities,
the examiner deducts, for reasons which he sets forth, (1) the amount of, or the
portion of, loans and other assets regarded as worthless or uncollectible (Classi
fication IV ); and (2) one-half of the amount of, or the portion of, loans and other
assets regarded as of doubtful worth or collectibility (Classification III). In the
case of securities, the examiner deducts: (1) the amount by which the book value
(less valuation allowances) exceeds the market value of stocks and defaulted se
curities; (2) one-half of the amount by which the book value (less valuation and
premium allowances) of speculative securities exceeds the average of market prices
over the 18 months preceding the month of examination; and (3) the amount by
which book value (less valuation and premium allowances) exceeds cost less amorti
zation of other (i.e., uncriticized) securities. The amounts of the deductions are
reduced by the determinable sound values of assets not shown on the books.
Examiners’ deductions (net) from total capital accounts represent the
amount by which the examiners’ evaluation of each bank’s total capital accounts
(net worth) is less than the value carried by the bank on its books. It exceeds
examiners’ deductions (net) from assets by the amount of determinable liabilities
not shown on the books.
Substandard, applied to total assets, loans, securities, fixed assets, and miscel
laneous assets, represents the appraised value of all assets believed by the examiner
to involve a substantial or unreasonable degree of risk, and hence to be undesirable
or hazardous for bank investment. It includes the value of assets in Classification
II, including assets not shown on the books, and 50 percent of the value of assets
in Classification III.1 The appraised value of substandard assets also represents
the book value of all criticized assets less examiners’ deductions (net) on such
1
Seethe Annual Report of the Federal Deposit Insurance Corporation for the Year Ending December
SI, 1938, pages 76-78, particularly Table 40.
EXPLANATORY NOTES
87
assets. The term “ substandard” corresponds in meaning to the term “ slow” used
in the Annual Reports of the Corporation for 1936, 1935, and 1934, except in the
case of securities and total assets.
Fixed and substandard assets include fixed assets not criticized, as well as
all substandard assets. Fixed assets consist of banking house, furniture and
fixtures, and other real estate.
Uncriticized, applied to total assets, cash, loans, securities, fixed assets, and
miscellaneous assets, represents the appraised value of all assets regarded as suitable
for bank investment. The appraised value of these, assets (Classification I) repre
sents acquisition values less charge-offs, valuation allowances, and, in the case
of securities, amortization of bond premiums.
Total capital accounts, or book value of capital accounts, refers to the
“ net worth” or equity of stockholders (including holders of capital notes and deben
tures) in each bank as carried by the bank on its books at the time of examination.
Net sound capital represents total capital accounts less examiners’ deductions
(net) from capital; and is the examiners’ evaluation of the net worth or equity of
stockholders (including holders of capital notes and debentures) in each bank.
The retirable value of R. F. C. capital is used to determine the amount of net
sound private capital, so that the latter differs from book value of private capital
accounts by the excess of retirable value of R. F. C. capital over book value as
well as by the examiners’ deductions (net) from total capital accounts. The term
“ net sound capital” corresponds in meaning to the term “ adjusted capital account’ '
used in the Annual Report of the Corporation for 1938, to the term “ net capital
account” used in the Annual Report of the Corporation for 1937, and to the term
“ sound capital” used in the Annual Report of the Corporation for 1936.
The amount of R. F. C. capital in banks may correspond to any one of three
values: the par or face value; the book value, which is normally the same as par
value but may be less; and the retirable value. The latter is the same as the
investment of the Reconstruction Finance Corporation shown in reports of that
Corporation.
Deposits, in all cases, represent deposits at the date of the examination.
Adjusted deposits and adjusted liabilities include, in addition to liabilities
shown on the books of the bank, those not shown, but determined by the examiner
to exist.
Average net current operating earnings, in general, represents the average
of net current operating earnings for the prior 3-year period; and the figure for
total assets to which it is related is the monthly average for the 3-year period
immediately prior to the examination. In the case of banks operating for one year
or more but less than three years, averages are for calendar years of operations.
In a number of cases, the assets are as of the date of the examination. The 19
banks for which no net earnings figures were available were, in general, new in
stitutions or institutions which had been merged.
Irregularity in individual item s. Items referred to in footnote 5 of Table 126
and footnote 2 of Table 130, as well as the dollar figures in the corresponding tables,
are strongly affected by the figures of two banks:
(a)
One bank with (i) $12 million in securities (stocks) not shown on the books,
(ii) net sound capital of $30 per $100 of appraised value of assets, (iii) fixed and
88
FEDERAL DEPOSIT INSURANCE CORPORATION
substandard assets of $24 per $100 of appraised value of assets, (iv) 3-year average
net earnings of $2.14 per $100 of total assets, and (v) deposits on the date of exami
nation between $10 million and $50 million.
(b)
One bank with (i) $7 million in securities, loans, and fixed and miscellaneous
assets not shown on the books, (ii) net sound capital of $25 per $100 of appraised
value of assets, (iii) fixed and substandard assets of $7 per $100 of appraised value
of assets, (iv) 3-year average net earnings of $1.76 per $100 of total assets, and
(v) deposits on the date of examination of more than $50 million.
The Federal Deposit Insurance Corporation Districts serve the following
States and possessions:
District 1
Maine, New Hampshire, Vermont, Massachusetts, Rhode
Island, Connecticut.
District 2
New York, New Jersey, Delaware, Puerto Rico, Virgin Islands.
District
Ohio, Pennsylvania.
3
District 4
Maryland, District of Columbia, Virginia, West Virginia,
North Carolina, South Carolina.
District
Georgia, Florida, Alabama, Mississippi, Louisiana.
5
District 6
Kentucky, Tennessee, Missouri, Arkansas.
District 7
Indiana, Michigan, Wisconsin.
District
8
Illinois, Iowa.
District
9
Minnesota, North Dakota, South Dakota, Montana.
District 10
Nebraska, Kansas, Oklahoma, Colorado, Wyoming.
District 11
Texas, New Mexico, Arizona.
District 12
Idaho, Utah, Nevada, Washington, Oregon, California, Alaska,
Hawaii.
Earnings, Expenses, and Disposition of Profits of Insured Commercial Banks
Reports of earnings and dividends of banks not submitting reports to the Federal
Deposit Insurance Corporation are submitted semi-annually on a six months’ basis to
the Comptroller of the Currency by national banks and by State banks in the District
of Columbia, and to the Board of Governors of the Federal Reserve System by
State banks members of that system. Reports of other insured State banks are
submitted to the Federal Deposit Insurance Corporation on an annual basis at the
close of each calendar year. As a result, the figures relating to earnings of all
insured banks, presented in Tables 139-141, include figures for the first half of the
year for banks which submitted reports to the Board of Governors of the Federal
Reserve System or to the Comptroller of the Currency on June 30, and for the
second half of the year for those which submitted such reports on December 31;
and for the full year, or such part as they were in existence, of those banks which
submitted reports to the Federal Deposit Insurance Corporation on December 31.
As a consequence, in the case of banks withdrawing from membership in the Federal
Reserve System during the second half of the year but continuing insurance, figures
for the first half of the year are included as well as figures for the entire year. In
the case of insured banks joining the Federal Reserve System during the second
half of the year, earnings for only the second half of the year are included. The
figures for number of banks appearing in the tables represent the number at the
close of the year indicated.
EXPLANATORY NOTES
89
Banks operating throughout the year. The figures relating to earnings of
insured banks, presented in Tables 142-149, and to earnings of insured banks
submitting reports to the Federal Deposit Insurance Corporation, given in Tables
152-157, are based only upon banks operating throughout the year whose operations
were not materially affected by mergers, consolidations, or other corporate changes.
Figures for banks commencing operations during the year, reporting earnings for
less than the full year, or materially affected by mergers or consolidations have
been excluded. In the case of banks not reporting to the Federal Deposit Insurance
Corporation the earnings of each individual bank for the first half-year and the
second half-year have been combined.
Asset and liability averages. The base used in the computation of ratios of
earnings and dividends, shown in Table 140, consists of the average of the total
assets of all insured banks reporting on the call dates specified. Such asset averages
include figures for banks which reported on one call date but not on another because
they became insured during the year or were in operation only part of the year.
No duplications in the asset figures exist because of changes in class of insured
banks during the period. The ratios presented in Tables 142-149 and in Tables
154-157 are based upon averages of assets and liabilities for the identical banks
to which the earnings data pertain. The asset and liability averages are derived
from reports for three dates, viz: for banks submitting reports to the Federal Deposit
Insurance Corporation, December 30, 1939, June 29, 1940, and December 31, 1940;
for banks submitting reports to other Federal supervisory agencies, March 26, 1940,
June 29, 1940, and December 31, 1940.
M ethod of reporting. Reports of earnings and dividends of insured com
mercial banks are submitted on the same basis, either cash or accrual, depending
upon the bank’s method of bookkeeping, as the reports of assets and liabilities.
Except as indicated below, the instructions issued by the three Federal bank
supervisory agencies are for the most part uniform. Copies of the instructions
issued to banks reporting to the Federal Deposit Insurance Corporation are available
upon request.
Rate of income on loans. This term refers to the reported amount of interest
and discount on loans, divided by the average loans and discounts held on the
dates indicated. Interest and discount on loans as reported includes renewal,
mortgage, and other fees charged in connection with loans owned by the bank.
Interest on tim e and savings deposits. The term “ rate of interest on time
and savings deposits” refers to the reported amount of interest payments divided
by the average amount of time and savings deposits reported on call dates each
year. This computed rate is usually less than the announced rate in most banks,
because of the methods used in computing interest. It is always less than the
maximum announced rate, when rates are varied according to type, maturity, or
size of deposit. The computed rate also varies from announced rates to the extent
that the balance upon which interest is actually calculated by the bank differs from
the average amount of the deposit.
The amount of interest on time and savings deposits paid by banks submitting
reports to the Federal Deposit Insurance Corporation in 1936, given in Tables 139
and 150, is believed to be overstated by $1 million to $1.5 million due to errors of
reporting. The decrease in this item from 1936 to 1937, therefore, probably reflects
in part the error in the preceding year.
Depreciation. Data relating to national banks and to State banks members
of the Federal Reserve System given in Tables 139-141 differ from those published
90
FEDERAL DEPOSIT INSURANCE CORPORATION
by the Comptroller of the Currency and the Board of Governors of the Federa
Reserve System due to differences in the classification of depreciation. In Tables
139-141 all reported depreciation on banking house, furniture and fixtures is tabu
lated as a part of current operating expenses. Such depreciation is shown by the
Comptroller of the Currency and the Board of Governors of the Federal Reserve
System as a single item under losses and charge-offs.
In the case of insured banks submitting reports to the Federal Deposit Insurance
Corporation regularly recurring depreciation is classified under current operating
expenses; extraordinary charge-offs of banking house, furniture and fixtures are
included with “ Losses, charge-offs, and additions to valuation allowances.”
Earnings of insured commercial banks subm itting reports to the Federal
Deposit Insurance Corporation for 1934 and 1935. Figures for 1934 and 1935,
shown in Tables 150 and 151, are not comparable with those for subsequent years
because of several differences in reporting. For 1934 and 1935 income taxes are
included in “ Taxes (other than on income)” as a part of current operating expense.
Beginning with 1936, they are classified separately as a deduction from net profits.
All depreciation on banking house, furniture and fixtures is included in “ Other
expenses of occupancy and maintenance of banking quarters” under current ope
rating expenses in 1934 and 1935. In later years, extraordinary non-recurring
depreciation on banking house, furniture and fixtures is included under “ Losses,
charge-offs, and additions to valuation allowances.” “ Profits on other assets
sold or exchanged” were included with recoveries in 1934 and 1935. “ Salaries,
wages, and fees” were reported as one item in 1934. In both years net profits
were reconciled to changes in the amount of “ Undivided profits” so that items in
the table beyond “ Net profits after dividends” were not reported. The asset
averages for those years are based upon all banks reporting on the call dates specified.
Suspensions, Receiverships, and Mergers
Figures for deposits which appear in Tables 159-164 and for disbursements which
appear in Tables 160 and 163 are calculated by rounding the figures for each bank
to thousands of dollars. Totals appearing in these tables, therefore, in some cases
do not agree exactly with totals appearing in Tables 165 and 169.
Differences between the number of insured banks suspended or merged with the
financial aid of the Federal Deposit Insurance Corporation, as shown in Table 102
or in the corresponding tables in previous Annual Reports, and as shown in Tables
159-165, and differences between the number of insured banks suspended and the
number placed in receivership, are due to differences in the classifications employed
and to particular circumstances connected with some of the cases involved.
In the case of suspended banks covered by Table 159, in 1936 one bank was
classified as a “ Suspended bank succeeded by another bank in same class” in Table
102 of the Annual Report for that year; in 1937 one bank was classified as “ Nonin
sured bank succeeding national bank suspended,” and three banks were classified
as “ Banks suspended and reopened,” in Table 102 of the Annual Report for that
year.
Of banks merged with financial aid of the Corporation covered by Table 160,
19 were treated as follows in the table of changes in the number of banks (Table 103
in the Annual Report for 1939, and Table 102 in the Annual Reports for 1936,
1937, and 1938):
In 1936, five banks were classified among “ Successions not involving changes
in number and classification” ;
91
EXPLANATORY NOTES
In 1937, two banks were classified among “ Changes in classification among
insured banks,” and three banks among “ Successions and reopenings not
involving changes in number or class” ;
In 1938, one bank was classified among “ Suspended banks not reopened or
succeeded,” and one among “ Changes in title” ;
In 1939, three banks were classified as “ Successions” not affecting the number
in any class, one was classified among “ Changes in title and location,” and
three were excluded because they continued operations under their old charters
and names after being merged with other banks to which loans were also made.
Differences between the number and deposits of insured banks included in sus
pensions and the number and deposits of insured banks included in receiverships
are due to the cases listed below.
Year of
closing
State
Class
Included in suspensions but not in
receiverships:
R eopened...................................................
R eopened...................................................
Taken over by another b a n k ...............
Merged with the financial aid of FD IG
Merged with the financial aid of F D IC
1935
1937
1937
1937
1938
Oklahoma
Kentucky
Tennessee
Iowa
Illinois
N ot member
N ot member
N ot member
National
N ot member
Receiverships not in sam e year as
suspensions:
Placed in receivership in 1936.............
Placed in receivership in 1938.............
1935
1937
Included in receiverships but not in
suspensions of insured banks:
Voluntary liquidation listed among
receiverships (depositors paid by
F D I C ) ...................................................
Noninsured bank with insured deposits
at date of suspension (insured status
having been terminated prior to
suspension) placed in receivership. .
Deposits
FRS
FRS
FRS
$85,000
206,000
FRS
3.594.000
2.795.000
Texas
Maryland
N ot member FRS
N ot member FRS
219.000
669.000
1937
Michigan
N ot member FRS
64,000
1938
Tennessee
N ot member FRS
278,000
Case
Number
122,000
35
126
162
All banks included in Tables 159-171 are commercial banks with the exception
of two mutual savings banks. The data concerning these two mutual savings
banks are as follows:
Year of
closing
State
Class
Deposits
Case
number
Included in suspensions and in re
ceiverships............................................
1938
Vermont
N ot member FRS
$2,479,000
157
Included in banks merged with the
financial aid of F D I C ........................
1939
Indiana
N ot member FRS
1,584,000
.............
co
to
NUMBER OF BANKING OFFICES— END-OF-YEAR
Table 101.
N
um ber
and
C l a s s if ic a t io n
of
O p e r a t in g
B a n k in g
O f f ic e s , D
ecem ber
31, 1935-19401
United States excluding possessions
United States including possessions
D ec. 31,
1939
Dec. 31,
1940
Dec. 31,
1935
D ec. 31,
1936
Dec. 31,
1937
D ec. 31,
1938
Dec. 31,
1939
D ec. 31,
1940
All banking offices....................................
Insured ..............................................................
Noninsured.......................................................
19,312
17,328
1,984
19,203
17,297
1,906
19,050
17,241
1,809
18,905
17,133
1,772
18,778
17,069
1,709
18,678
17,015
1,663
19,218
17,324
1,894
19,109
17,290
1,819
18,958
17,234
1,724
18,813
17,126
1,687
18,687
17,062
1,625
18,585
17,008
1,577
All banks.........................................................
Insured..........................................................
Noninsured...................................................
15,940
14,182
1,758
15,714
14,029
1,685
15,444
13,853
1,591
15,257
13,709
1,548
15,085
13,589
1,496
14,950
13,495
1,455
15,904
14,179
1,725
15,679
14,025
1,654
15,410
13,849
1,561
15,223
13,705
1,518
15,049
13,585
1,464
14,912
13,491
1,421
All branches..................................................
Insured........................................................ .
Noninsured...................................................
3,372
3,146
226
3,489
3,268
221
3,606
3,388
218
3,648
3,424
224
3,693
3,480
213
3,728
3,520
208
3,314
3,145
169
3,430
3,265
165
3,548
3,385
163
3,590
3,421
169
3,638
3,477
161
3,673
3,517
156
18,622
17,265
6,7 2 k
1,956
8,585
1,357
18,516
17,234
6,733
2,03k
8,U67
1,282
18,364
17,178
6,7U8
2,075
8,355
1,186
18,220
17,073
6,727
2,106
17,992
16,931
2,3k5
7,900
1,061
18,528
17,261
6,72 k
1,956
8,581
1,267
18,422
17,227
6,733
2,03k
8,k60
1,195
18,272
17,171
6,7k8
2,075
8,3k8
1,147
18,095
16,994
6,710
2,177
8,107
1,101
18,128
17,066
6,727
2,106
8,233
1,062
18,004
16,987
6,710
2,177
8,100
1,017
17,899
16,924
6,686
2,3k5
7,893
975
B anks...........................................................
Insured......................................................
Members F. R . System: national. .
Members F. R . System: State..........
Not members F . R. System .............
Noninsured..............................................
15,374
14,126
5,386
1,001
7,739
1,248
15,151
13,973
5,325
1,051
7,597
1,178
14,882
13,797
5,260
1,081
7,U56
1,085
14,703
13,661
5,22k
1,11k
7,323
1,042
14,534
13,538
5,187
1,1 75
7,176
996
14,399
13,442
5,lkk
l,3k2
6,956
957
15,338
14,123
5,386
1,001
7,736
1,215
15.116
13,969
5,325
1,051
7,593
1,147
14,848
13,793
5,260
1,081
7,k52
1,055
14,669
13,657
5,22 k
1,11k
7,319
14,361
13,438
5,lkk
1,012
14,498
13,534
5,187
1,175
7,172
964
Unit banks............................................
Insured............................................... .
Members F . R. System: national.
Members F. R. System: State. ..
Not members F . R . System .........
Noninsured..........................................
14,518
13,312
5,198
856
7,258
1,206
14,257
13,119
5,128
898
7,093
1,138
13,958
12,912
5,06k
922
6,926
1,046
13,764
12,762
5,028
953
6,781
1,002
13,579
12,625
k,990
1,010
6,625
954
13,425
12,509
k,9k3
1,1 72
6,39k
916
14,494
13,310
5,198
856
7,256
1,184
14,233
13.117
5,128
898
7,091
1,116
13,935
12,910
5,06k
922
6,92k
1,025
13,741
12,760
5,028
953
6,779
981
13,554
12,623
k,990
1,010
6,623
931
13,398
12,507
k,9k3
1,172
6,392
891
ALL B A N K IN G OFFICES
CO M M ERCIAL BA N K IN G OFFICES
Banking offices.............................................
Insured..........................................................
Members F. R. System: national. . ..
Members F. R . System: State.............
Not members F . R . System .................
Noninsured...................................................
8,2k0
6,686
1,101
l , 8k2
6,952
923
CORPORATION
Dec. 31,
1938
INSURANCE
Dec. 31,
1937
DEPOSIT
Dec. 31,
1936
FEDERAL
D ec. 31,
1935
924
885
196
159
530
39
939
899
196
161
542
40
955
913
197
165
551
42
974
933
201
170
562
41
844
813
188
145
480
31
883
852
197
153
502
31
913
883
196
159
528
30
928
897
196
161
540
31
944
911
197
165
51,9
33
963
931
201
170
560
32
Branches........................................................
Insured........................................................
Members F. R. System: national. . ..
Members F. R. System: State.............
Not members F . R. System .................
Noninsured.................................................
3,248
3,139
1,338
955
846
109
3,365
3,261
1,408
983
870
104
3,482
3,381
1,1,88
994
899
101
3,517
3,412
1,503
992
917
105
3,561
3,456
1,523
1,002
931
105
3,593
3,489
1,51,2
1,003
944
104
3,190
3,138
1,338
955
845
52
3,306
3,258
1,1,08
983
867
48
3,424
3,378
1,1,88
991,
896
46
3,459
3,409
1,503
992
91A
50
3,506
3,453
1,523
1,002
928
53
3,538
3,486
1,51,2
1,003
91,1
52
A ll offices of banks operating
branches...........................................
Insured....................................................
Members F. R. System: national.
Members F. R. System: State.........
Not members F . R . System.............
Noninsured............................................
4,104
3,953
1,526
1,100
1,327
151
4,259
4,115
1,605
1,136
1,371*
144
4,406
4,266
1,68 k
1,153
1,1,29
140
4,456
4,311
1,699
1,153
1,1,59
145
4,516
4,369
1,720
1,167
1,1,82
147
4,567
4,422
1,71,3
1,173
1,506
145
4,034
3,951
1,526
1,100
1,325
83
4,189
4,110
1,605
1,136
1,369
79
4,337
4,261
1,681,
1,153
76
4,387
4,306
1,699
1,153
1,45 A
81
4,450
4,364
1,720
1,167
1,1*77
86
4,501
4,417
1,71,3
1,173
1,501
84
Banking offices...............................................
Insured ............................................................
N oninsured.....................................................
690
63
627
687
63
624
686
63
623
685
60
625
683
75
608
686
84
602
690
63
627
687
63
624
686
63
623
685
60
625
683
75
608
686
84
602
Banks2.............................................................
Insured ........................................................
N oninsured.................................................
566
56
510
563
56
507
562
56
506
554
48
506
551
51
500
551
53
498
566
56
510
563
56
507
562
56
506
554
48
506
551
51
500
551
53
498
Unit banks...............................................
Insured ....................................................
Noninsured.............................................
488
52
436
485
52
433
485
52
433
475
44
431
471
43
428
470
43
427
488
52
436
485
52
433
485
52
433
475
44
431
471
43
428
470
43
427
Banks operating branches................
Insured ....................................................
Noninsured.............................................
78
4
74
78
4
74
77
4
73
79
4
75
80
8
72
81
10
71
78
4
74
78
4
74
77
4
73
79
4
75
80
8
72
81
10
71
Branches........................................................
Insured........................................................
N oninsured.................................................
124
7
117
124
7
117
124
7
117
131
12
119
132
24
108
135
31
104
124
7
117
124
7
117
124
7
117
131
12
119
132
24
108
135
31
104
A ll offices of banks operating
branches...........................................
Insured ....................................................
Noninsured.............................................
202
11
191
202
11
191
201
11
190
210
16
194
212
32
180
216
41
175
202
11
191
202
11
191
201
11
190
210
16
194
212
32
180
216
41
175
1,424
M U T U A L SAV IN G S B A N K IN G OFFICES
1 For explanation of classification of banking offices, see page 81.
* N ot members of the Federal Reserve System.
OFFICES— END-OF-YEAR
894
854
197
153
504
40
OF BANKING
856
814
188
11,5
481
42
NUMBER
Banks operating b ranches................
Insured....................................................
Members F. R. System: national. .
Members F. R . System: State.........
Not members F . R . System .............
Noninsured.............................................
to
C
O
Table 102.
A
n a l y s is
OF CHANGES IN N U M B ER AND CLASSIFICATION OF OPERATIN G B AN K IN G OFFICES
in t h e
U
n it e d
States
and
P
o s s e s s io n s
D
u r in g
1940
Mutual savings
banking offices
Commercial banking offices
All banking offices
Insured
Total
N on
Insured insured
Total
Total
Total
In
sured
N on
in
sured
ALL B A N K IN G O FFICES
17,992
18,095
16,931
16,994
6,686
6,710
2,345
2,177
7,900
8,107
1,061
1,101
686
683
84
75
602
608
-100
-54
-46
-103
-63
-2 4
+ 168
-207
-40
+ 3
+ 9
-6
O ffices o p e n e d ................................................................................................
B an ks.............................................................................................................
Branches........................................................................................................
+ 135
+ 43
+ 92
+ 118
+ 30
+ 88
+ 17
+ 13
+ 4
+ 132
+ 43
+ 89
+ 117
+ 30
+ 87
+ 38
+ 4
+ 34
+ 13
+ 15
+ 13
+ 2
+ 3
+ 1
+ 2
+ 13
+ 66
+ 26
+40
+ 3
+ 1
+2
O ffices c lo s e d ..................................................................................................
B an ks.............................................................................................................
Branches........................................................................................................
-235
-178
-57
-199
-144
-55
-36
-34
-2
-235
-178
-5 7
-199
-144
-5 5
-71
-46
-2 5
-2 5
-12
-1 3
-103
-86
-1 7
-36
-34
-2
+ 27
+ 20
+ 7
-2 7
-2 0
-7
+ 19
+ 18
+ 1
+ 9
+ 180
+ 6
-1 9
-1 8
-1
+ 8
+ 2
+ 6
-8
-2
-6
-1
+ 10
+ 173
+ 1
-170
+ 12
+ 1
-172
-11
53
51
498
500
+2
-2
N e t c h a n g e d u r in g y e a r ................................................................................
C h a n ges re s u ltin g fr o m —
C h a n ges in cla ssific a tio n — n e t to ta l
Noninsured banks to insured banks
Noninsurrd branches to insured branches
Among insured banks . .
Am ong branches of insured banks
.
...........................
.
....................................
..................................
....................................
........................................
BANKS
N u m b e r o f b an k s, D e c e m b e r 31, 1940.....................................................
N u m b e r o f b an k s, D e c e m b e r 31, 1939.....................................................
14,950
15,085
13,495
13,589
1,455
1,496
14,399
14,534
13,442
13,538
5,144
5,187
1,342
1,175
6,956
7,176
957
996
N et c h a n g e d u rin g y e a r ............................................................................
-135
-94
-41
-135
-96
-4 3
+ 167
-220
-3 9
B an k s b e g in n in g d e p o sit o p e r a t io n s ..............................................
New banks1...............................................................................................
Reopening of bank suspended in previous yea r.............................
Financial institutions becoming banks of deposit..........................
+43
+ 36
+ 1
+ 6
+ 30
+ 28
+ 1
+ 1
+ 13
+ 8
+ 43
+ 36
+ 1
+ 6
+30
+.28
^+ 1
+ 1
+4
+4
+26
+ 24
+ 1
+ 1
+ 13
+ 8
B a n k s cea sin g d e p o s it o p e r a t i o n s ..................................................
Suspended banks not reopened or succeeded..................................
Merged with financial aid of F D IC — net decrease........................
Other mergers, consolidations, and absorptions— net decrease. .
Other liquidations...................................................................................
Banks ceasing to engage in deposit banking2..................................
-178
-22
-20
-76
-52
-8
-144
-19
-20
-72
-33
-3 4
-3
-178
-22
-20
-76
-52
-8
-144
-19
-20
-72
-33
-4 6
-1
-6
-3 6
-3
-8 6
-1 8
-11
-2 8
-29
-3 4
-3
C h a n ges re s u ltin g fr o m —
+ 5
-4
-19
-8
-1 2
-3
-8
-1
+ 5
-4
-1 9
-8
551
551
CORPORATION
1,663
1,709
INSURANCE
17,015
17,069
DEPOSIT
18,678
18,778
FEDERAL
Not
N on
Members F . R .
members insured
System
F. R.
National State S y ste m
+ 20
N on in s u re d b a n k s b e c o m in g in s u r e d ...........................................
Succession to noninsured b a n k ..........................................................
Banks suspended and reopened..........................................................
Admission to F . R . S ystem .................................................................
Admissions to insurance, banks operating at beginning of yea r.
+1
+1
+6
+12
+18
-20
-1
-1
+6
+1
+1
+6
+10
-6
-12
'
+6
+ 15
-1 6
+ 173
-8
-10
-6
+2
-172
-7
+ 14
-182
+ 3
11
3
5
BRANCHES
N u m b e r o f b ra n ch e s, D e c e m b e r 31, 1940.
N u m b e r o f b ra n ch e s, D e c e m b e r 31, 1939.
N et c h a n g e d u r in g y e a r .................................................................
3,520
3,480
208
213
3,593
3,561
3,489
3,456
1,542
1,523
1,003
1,002
944
931
+ 35
+40
-5
+ 32
+ 33
+ 19
+1
+ 13
+92
+41
+6
+ 45
+88
+40
+6
+4
+1
+ 89
+41
+ 13
+8
+42
+3
+ 42
+ 87
+40
+6
+ 41
+ 34
+6
+ 13
+ 5
+ 40
+11
+6
+23
■* + i
-5 7
-5 5
-2
-5 7
-5 5
-2 5
-1 3
-1 7
-2
+ 7
-7
+1
-1
+ 10
+1
+8
-11
+10
-7
104
105
135
132
31
24
+3
+7
+3
+1
104
108
C h a n ges r e s u ltin g fr o m —
B ra n ch es o p e n e d fo r b u s in e s s ................................................
Absorbed banks converted into branches..............................
Branches replacing banks or branches closed or relocated.
Other branches opened...............................................................
B ra n ch es d is c o n t in u e d .....................................................................
B ra n ch es o f n o n in su re d b a n k s a d m itte d to in s u r a n c e ___
C h a n g es in c la ss ific a tio n a m o n g b ra n ch es o f in su red ban ks
Branches of banks admitted to F . R . System ............................
Branches transferred as result of absorptions or successions..
From State banks to national banks............................................
+21
+1
+2
+1
+ 3
'
+1
+2
‘
+2
+6
C h a n ges n o t in v o lv in g n u m b e r in any cla ss:
Branches transferred as results of absorptions or successions.. . .
Changes in title......................................................................................
Changes in location...............................................................................
Change in title and location ...............................................................
Name of town changed.........................................................................
1 Includes, among insured banks not members of the Federal Reserve System, 1 successor to a cooperative credit association, and 2 banks which replaced but did not directly
succeed insured banks which had suspended; includes, among noninsured banks, 2 banks in the possessions.
2 Includes some banks which ceased accepting deposits prior to 1940.
8 Includes 2 charter renewals, 1 among State banks members of the Federal Reserve System, and 1 among insured banks not members of the Federal Reserve System;
includes, among noninsured banks, 3 incorporations of private banks.
N o te:
For reconcilement of figures relating to number of suspensions, receiverships, and mergers with F D IC aid, see page 90.
Back figures— See the following Annual Reports:
1939, p. 88; 1938, p . 124; 1937, pp . 70-72; 1936, p p. 102-04; 1935, p p. 144-46; 1934, p. 177.
OFFICES— END-OF-YEAR
3,728
3,693
OP BANKING
C h a n g es n o t in v o lv in g n u m b e r in a n y cla s s :
Successions3.............................................................................................
Changes in title......................................................................................
Changes in location...............................................................................
Changes in title and location............................................................ .
Changes in names of tow n ........................... ..................................... .
+10
+2
-1
-1
NUMBER
+2
+ 182
-3
-1 8
+1
'
-1
C h a n ges in c la ss ific a tio n a m o n g in su red b a n k s ..................... .
National banks succeeding State banks........................................ .
State banks succeeding national banks...........................................
Admissions to F . R . S ystem ............................................................. .
Withdrawals from F . R . System with continuance of insurance.
+12
+1
^
T able 103.
N
um ber
OF OPERATING BAN KIN G OFFICES, D E C EM BER
31, 1940
<X>
<Ji
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION
All banking offices
Mutual savings banking
offices
Commercial banking offices
Insured banking offices
as percentage of—
Insured
Total
Com
All
N on
m ercial
Insured insured banking banking
offices offices
M utual
savings
banking
offices
6,686
5,144
A,91+3
201
1,542
2,345
1,342
1,172
170
1,003
7,900
6,956
6,391+
562
944
1,061
957
916
1+1
104
686
551
1+70
81
135
84
53
us
10
31
602
498
1+27
71
104
91.1
90.3
90.3
89.1+
94.4
94.1
93.4
93.2
95.8
97.1
12.2
9.6
9.1
12.3
23.0
6,686
5,144
l+,91+3
201
1,542
2,345
1,342
1,172
170
1,003
7,893
6,952
6,392
560
941
975
923
891
32
52
686
551
1+70
81
135
84
53
1+3
10
31
602
498
1+27
71
104
91.5
90.5
90.5
90.1
95.8
94.6
93.6
93.3
96.7
98.5
12.2
9.6
9.1
12.3
23.0
7
4
2
2
3
86
34
25
9
52
7.5
10.5
7.1+
18.2
5.5
7.5
10.5
7.1+
18.2
5.5
8
8
8
96.6
96.3
96.3
100.0
100.0
96.6
96.3
96.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
97.4
97.2
97.0
100.0
100.0
97.4
97.2
97.0
100.0
100.0
18,585
14,912
13,868
i,o u
3,673
17,008
13,491
12,550
91+1
3,517
1,577
1,421
1,318
103
156
17,899
14,361
13,398
963
3,538
16,924
13,438
12,507
931
3,486
Possessions..........................................................
All banks...........................................................
Unit banks....................................................
Banks operating branches..........................
Branches............................................................
93
38
27
11
55
7
4
2
2
3
86
34
25
9
52
93
38
27
11
55
7
4
2
2
3
State
A la b a m a..........................................................
All banks.......................................................
Unit banks................................................
Banks operating branches......................
Branches........................................................
237
217
211+
3
20
229
209
206
3
20
8
8
8
237
217
211+
3
20
229
209
206
3
20
84
65
63
2
19
18
17
16
1
1
127
127
127
Arizona ...........................................................
All banks.......................................................
Unit banks................................................
Banks operating branches......................
Branches........................................................
38
12
8
4
26
38
12
8
A
26
38
12
8
4
26
38
12
8
k
26
26
5
s
2
21
2
2
2
10
5
3
2
5
Arkansas..........................................................
All banks.......................................................
Unit banks .............................................
Banks operating branches......................
Branches........................................................
228
213
199
1U
15
222
207
193
1U
15
228
213
199
1U
15
222
207
193
1U
15
51
50
1+9
1
1
7
7
7
164
150
187
13
14
6
6
6
6
6
6
CORPORATION
1,663 17,992 16,931
1,455 14,399 13,442
1,3 US 13,1+25 12,509
112
971+
933
208
3,593
3,489
INSURANCE
17,015
13,495
12,552
91+3
3,520
United States.....................................................
All banks...........................................................
Unit banks....................................................
Banks operating branches..........................
Branches............................................................
Total
DEPOSIT
United States and possessions— to ta l......... 18,678
All banks............................................................... 14,950
Unit banks........................................................ 13,895
Banks operating branches...............................
1,055
Branches................................................................
3,728
Total
Members F . R .
N ot
N on
System
members insured
F. R .
National State S ystem
FEDERAL
T otal
N on
Insured insured
California...................................
All banks..................................
Unit banks...........................
Banks operating branches.
B ranches..................................
15
40
8
7
6
1
1
99.2
96.6
96.5
97.0
99.9
99.2
96.6
96.5
97.0
99.9
95.2
95.2
95.2
95.2
95.2
95.2
1,051 I 1,043
205
198
172
166
32
S3
846
845
8
7
6
1
1
1,051
205
172
33
846
1,043
198
166
32
845
777
98
89
9
679
143
17
9
8
126
123
83
68
7
7
7
146
146
11+6
139
139
139
78
78
78
15
15
15
46
46
U6
7
7
7
Connecticut..............................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
206
189
182
7
17
108
100
95
5
98
89
87
2
9
133
117
111
6
16
108
100
95
5
8
57
52
U9
3
5
7
6
5
1
1
44
42
25
17
16
1
8
73
72
71
1
1
73
72
71
1
1
52.4
52.9
52.2
71.U
47.1
81.2
85.5
85.6
83.3
50.0
Delaware.....................................
All banks..................................
Unit banks...........................
Banks operating branches.
B ranches..................................
60
45
37
8
15
56
42
35
7
4
3
2
1
1
57
43
36
7
14
56
42
35
7
14
15
15
15
7
4
1
3
3
34
23
19
U
1
1
1
3
2
1
1
1
3
2
1
1
1
93.3
93.3
9U-6
87.5
93.3
98.2
97.7
97.2
100.0
100.0
District of C o lu m bia............
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
52
22
11
11
30
52
22
11
11
30
52
22
11
11
30
52
22
11
11
30
26
9
U
5
17
17
6
2
U
11
9
7
5
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Florida.........................................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
169
167
165
2
2
165
164
163
1
1
4
3
2
1
1
169
167
165
2
2
165
164
163
1
1
52
62
52
5
5
5
108
107
106
4
3
2
1
1
97.6
98.2
98.8
50.0
50.0
97.6
98.2
98.8
50.0
50.0
Georgia.......................................
All banks.................................
Unit banks...........................
Banks operating branches.
Branches..................................
368
342
331
11
26
290
266
257
9
24
78
76
7J>
2
2
368
342
331
11
26
290
266
257
9
24
67
51
US
3
16
23
18
15
3
5
200
78
76
7U
2
2
78.8
77.8
77.6
81.8
92.3
78.8
77.8
77.6
81.8
92.3
86
49
U2
7
37
1
1
1
87
50
us
7
37
86
49
U2
7
37
40
18
IS
5
22
22
9
8
1
13
1
1
1
98.9
98.0
97.7
100.0
100.0
98.9
98.0
97.7
100.0
I d a h o ...........................................
All banks..................................
Unit banks...........................
Banks operating branches.
B ranches..................................
87
50
US
7
37 1
8
14
U1
1
2
11
2
2
1
1
197
19 U
3
3
24
22
21
1
2
OFFICES— END-OF-YEAR
139
139
139
OF BANKING
146
146
1U6
NUMBER
C o lo r a d o .....................................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
CO
00
T a b le
103.
N u m b e r o f O p e r a tin g B a n k in g O f f i c e s , D e c e m b e r
31, 1940— Continued
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION
Mutual savings banking
offices
Commercial banking offices
All banking offices
Insured banking offices
as percentage of—
Total
Total
Total
N ot
N on
Members F . R .
System
members insured
F . R.
National State S ystem
840
840
8U0
824
824
82U
337
337
33 7
82
82
82
405
405
U05
16
16
16
569
502
U60
1,2
67
544
478
U37
hi
66
25
24
23
1
1
565
498
U56
U2
67
541
475
W
U
132
124
118
6
8
75
60
57
3
15
334
291
259
32
43
24
23
22
1
1
814
658
5U
117
156
733
586
U75
111
147
81
72
66
6
9
814
658
5U1
117
156
733
586
U75
111
147
103
103
103
45
45
U5
585
438
327
111
147
K ansas
All banks
Unit banks
662
662
662
449
449
U9
213
213
213
662
662
662
449
449
U9
181
181
181
25
25
25
K e n tu c k y
......................................... ..
All banks
.............................................
Unit banks
Banks operating branches
Branches
431
402
389
13
29
400
371
358
13
29
31
31
31
431
402
389
13
29
400
371
358
13
29
114
95
92
3
19
L o u isia n a
...
...........
...
All banks
...........
Unit banks
. ........................
Banks operating branches
199
145
117
28
54
198
144
116
28
54
1
1
1
199
145
117
28
54
198
144
116
28
54
57
29
22
7
28
I n d ia n a ............................................................
All banks.......................................................
Unit banks................................................
Banks operating branches
Branches
•.
All banks
Unit banks
Banks operating branches
Branches
66
98.1
98.1
98.1
98.1
98.1
98.1
95.6
95.2
95.0
97.6
98.5
95.8
95.4
95.2
97.6
98.5
81
72
66
6
9
90.0
89.1
87.8
91+.9
94.2
90.0
89.1
87.8
91+.9
94.2
243
243
2U3
213
213
213
67.8
67.8
67.8
67.8
67.8
67.8
19
17
15
2
2
267
259
251
8
8
31
31
31
92.8
92.3
92.0
100.0
100.0
92.8
92.3
92.0
100.0
100.0
9
8
7
1
1
132
107
87
20
25
1
1
1
99.5
99.3
99.1
100.0
100.0
99.5
99.3
99.1
100.0
100.0
4
4
h
3
3
3
1
1
1
75.0
75.0
75.0
CORPORATION
16
16
16
M utua
savings
banking
offices
INSURANCE
824
824
82U
Com
All
N on
m ercial
Insured insured banking banking
offices offices
DEPOSIT
840
840
8!>0
Unit banks
Total
FEDERAL
Insured
N on
Insured insured
14
9
5
u
5
34
32
SO
2
2
6
6
6
28
26
2U
2
2
73.8
65.0
62.3
73.9
88.3
88.9
86.8
89.U
81.0
91.4
17.6
18.8
20.0
1
1
1
28
12
10
2
16
2
2
2
26
10
8
2
16
90.4
94.1
9U.3
92.6
83.3
99.6
99.4
99.3
100.0
100.0
7.1
16.7
20.0
43
126
99
83
16
27
66
55
11
9
8
1
2
225
192
167
25
33
225
192
167
25
33
56.5
48.9
U6.2
61.8
76.7
96.5
95.5
9h.9
97.7
98.3
94.5
93.6
93.6
93.3
96.9
94.5
93.6
93.6
93.3
96.9
95.6
95.6
95.5
100.0
100.0
95.6
95.5
95.5
100.0
100.0
42
35
29
6
7
126
68
U7
21
58
112
59
U2
17
53
41
37
3U
3
4
31
5
M aryland...................................
All banks.................................
Unit banks...........................
Banks operating branches.
B ranches..................................
281
185
158
27
96
254
174
1U9
25
80
27
11
9
2
16
253
173
148
25
80
252
172
1U7
25
80
73
63
60
3
10
53
10
M assachusetts.........................
All banks.................................
Unit banks...........................
Banks operating branches.
Branches..................................
543
393
325
68
150
307
192
150
k2
115
236
201
175
26
35
318
201
158
U3
117
307
192
150
U2
115
186
125
107
18
61
M ichigan....................................
All banks.................................
Unit banks...........................
Banks operating branches.
Branches..................................
613
450
U05
U5
163
579
421
379
U2
158
34
29
26
3
5
613
450
U05
U5
163
579
421
379
U2
158
M inn esota.................................
All banks.................................
Unit banks..........................
Banks operating branches.
Branches..................................
681
675
673
2
6
651
645
6J+3
2
6
30
30
30
680
674
672
2
6
M ississippi................................
All banks.............. ...................
Unit banks..........................
Banks operating branches.
Branches..................................
250
207
182
25
43
239
196
171
25
43
11
11
11
M issou ri.....................................
All banks.................................
Unit banks...........................
Banks operating branches.
B ranches..................................
620
620
620
581
581
581
39
39
39
M o n ta n a .....................................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
111
111
111
111
111
111
1
U
26
u
6
29
15
U
37
10
17
132
76
66
10
56
205
144
133
242
201
180
11
21
61
41
34
29
26
3
5
650
644
6U2
2
6
194
188
186
2
6
21
435
435
U35
30
30
30
250
207
182
25
43
239
196
171
25
43
25
24
23
1
1
212
11
11
11
95.6
94.7
9U-0
100.0
100.0
95.6
94.7
9U.0
100.0
100.0
620
620
620
581
581
581
85
85
85
39
39
39
93.7
93.7
93.7
93.7
93.7
93.7
111
111
111
111
111
111
42
42
U2
100.0
100.0
100.0
100.0
100.0
100.0
21
21
170
lb6
2U
42
431
431
U31
1
1
1
1
1
1
100.0
100.0
100.0
OFFICES— END-OF-YEAR
118
65
U8
17
53
OF BANKING
160
100
77
23
60
NUMBER
40
17
7
10
23
M ain e...........................................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
Table 103.
N u m b e r OF O p e r a tin g B a n k in g O f f i c e s , D e c e m b e r
31, 1940— Continued
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION
Mutual savings banking
offices
Commercial banking offices
All banking offices
Insured banking offices
as percentage of—
Total
Unit banks . . . .
Banks operating branches
Branches........................... ...........................
419
417
U15
2
2
362
360
858
2
2
57
57
57
Total
362
360
858
2
2
135
133
181
2
2
14
14
1U
213
213
213
22
11
9
2
11
22
11
9
2
11
17
6
u
2
11
2
2
£
3
3
8
22
11
9
2
11
110
107
10 u
8
3
57
56
55
1
1
53
51
U9
2
2
66
64
62
2
2
57
56
55
1
1
53
52
51
1
1
1
1
1
3
3
8
9
8
7
1
1
44
43
U2
1
1
New Jersey......................................................
All banks.......................................................
Unit banks................................................
Banks operating branches......................
Branches........................................................
502
380
826
5U
122
485
365
812
53
120
17
15
U
1
2
474
356
805
51
118
470
352
801
51
118
259
225
207
18
34
112
55
33
22
57
99
72
61
11
27
4
4
u
28
24
21
3
4
New Mexico
•
..............................
All banks
.
• . ..
••• . . . .
Unit banks
................................
Banks operating branches
Branches
....... ........
48
41
36
5
7
47
40
85
5
7
1
1
1
48
41
86
5
7
47
40
85
5
7
22
22
22
5
5
5
20
13
8
5
7
1
1
1
New Y o rk ........................................................
All banks.................................................
Unit banks................................................
Banks operating branches......................
1,565
869
785
18U
696
1,373
723
627
96
650
192
146
108
88
46
1,379
735
6kl
9U
644
1,363
719
626
93
644
612
428
897
31
184
529
129
86
222
162
1U8
19
60
16
16
15
1
86.4
86.3
86.8
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
44
43
U2
1
1
51.8
52.3
52.9
83.3
33.3
86.4
87.5
88.7
50.0
50.0
186
134
9U
UO
52
15
13
11
2
2
13
11
10
1
2
96.6
96.1
95.7
98.1
98.4
99.2
98.9
98.7
100.0
100.0
97.9
97.6
97.2
100.0
100.0
97.9
97.6
97.2
100.0
100.0
10
4
1
8
6
87.7
83.2
85.3
71.6
93.4
98.8
97.8
97.7
98.9
100.0
176
130
93
87
46
Mutual
savings
banking
offices
53.6
54.2
52 4
66.7
50.0
5.4
3.0
1.1
7.5
11.5
CORPORATION
22
11
9
2
11
us
86.4
86.3
86.3
100.0
100.0
57
57
57
Nevada..............................
All b an k s............
Unit banks. . .
...
. .
...
¥ Banks operating branches
.
Branches..............................
it- t>
N ew H a m p sh ire ..
.................
All banks
................................
Unit b a n k s ..............................................
Banks operating branches
Branches
............... ..
• ..
400
Com
All
Non
mercial
Insured insured banking banking
offices offices
INSURANCE
419
417
U15
2
2
Total
DEPOSIT
Nebraska..........................................................
Total
Not
Non
Members F. R.
System
members insured
F. R.
National State System
FEDERAL
Insured
Non
Insured insured
9
7
6
1
2
354
227
183
kk
127
345
220
177
k3
125
51
44
kl
3
7
North D ak ota................................................
184
163
1U9
lk
21
171
150
136
lh
21
13
13
13
184
163
lk9
lk
21
171
150
136
lk
21
45
45
k5
869
696
657
89
173
850
677
638
39
173
19
19
19
866
693
65k
39
173
847
674
635
39
173
279
242
23k
8
37
390
390
390
380
380
380
10
10
10
390
390
390
380
380
380
Oregon..............................................................
All banks.......................................................
Unit banks................................................
Banks operating branches......................
Branches.................................. .....................
140
72
67
5
68
138
70
65
5
68
2
2
2
139
71
66
5
68
Pennsylvania.................................................
All banks.......................................................
Unit banks................................................
Banks operating branches......................
Branches........................................................
1,193
1,082
1,033
U9
111
1,165
1,058
1,012
k6
107
28
24
21
3
4
Rhode Island.................................................
All banks.......................................................
Unit banks................................................
Banks operating branches......................
Branches........................................................
72
32
20
12
40
44
16
10
6
28
South Carolina.............................................
All banks.......................................................
Unit banks................................................
Banks operating branches......................
Branches........................................................
172
150
1U
6
22
135
113
107
6
22
Banks operating branches......................
Branches........................................................
O h io ...................................................................
All banks.......................................................
Branches........................................................
O klahom a.......................................................
Unit banks................................................
Banks operating branches......................
Branches........................................................
18
10
8
2
8
276
166
128
38
110
9
7
6
1
2
97.5
96.9
96.7
97.7
98.4
97.5
96.9
96.7
97.7
98.4
126
105
91
lk
21
13
13
13
92.9
92.0
91.3
100.0
100.0
92.9
92.0
91.3
100.0
100.0
234
121
105
16
113
334
311
296
15
23
19
19
19
97.8
97.3
97.1
100.0
100.0
97.8
97.3
97.1
100.0
100.0
208
208
208
11
11
11
161
161
161
10
10
10
97.4
97 4
97.k
97.4
97.4
97.k
137
69
6k
5
68
91
26
2k
2
65
6
6
6
40
37
3k
3
3
2
2
2
1
1
1
1
1
1
98.6
97.2
97.0
100.0
100.0
98.6
97.2
97.0
100.0
100.0
100.0
100.0
100.0
1,172
1,075
l t030
k5
97
1,145
1,052
1,010
k2
93
729
688
669
19
41
119
85
73
12
34
297
279
268
11
18
27
23
20
3
4
21
7
3
k
14
20
6
2
k
14
1
1
1
97.7
97.8
98.0
93.9
96.4
97.7
97.9
98.1
93.3
95.9
95.2
85.7
66.7
100.0
100.0
28
16
10
6
12
61
23
12
11
38
44
16
10
6
28
20
12
9
s
8
21
2
2
19
3
2
1
1
1
17
7
2
5
10
11
9
8
1
2
11
9
8
1
2
61.1
50.0
50.0
50.0
70.0
72.1
69.6
83.3
5 k-5
73.7
37
37
37
172
150
lkk
6
22
135
113
107
6
22
39
21
19
2
18
6
5
k
1
1
90
87
8k
3
3
37
37
37
78.5
75.3
7k.3
100.0
100.0
78.5
75.3
7k >3
100.0
100.0
3
3
3
3
3
3
100.0
100.0
100.0
OFFICES— END-OF-YEAR
345
220
177
US
125
OF BANKING
354
227
183
kk
127
NUMBER
North C arolina.............................................
All banks.......................................................
Table 103.
N u m b e r o f O p e r a tin g B a n k in g O f f i c e s , D e c e m b e r
31, 1940— Continued
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BAN K AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION
Mutual savings banking
offices
Commercial banking offices
All banking offices
T otal
Total
Members F . R .
N ot
N on
System
members insured
Total
F. R .
^National State S ystem
Total
Com
All
m ercial
N on
Insured insured banking banking
offices offices
202
164
1U
20
38
201
163
11+3
20
38
60
40
36
L
20
23
23
23
118
100
8A
16
18
1
1
1
99.5
99.4
99.3
100.0
100.0
99.5
99.4
99.3
100.0
100.0
T e n n e s s e e ........................................................
Alt banks.......................................................
Unit banks
Banks operating branches
Branches
348
297
277
20
51
339
288
268
20
51
9
9
9
348
297
277
20
51
339
288
268
20
51
89
71
67
234
211
196
15
23
9
9
9
18
16
6
5
1
10
97.4
97.0
96.8
100.0
100.0
97.4
97.0
96.8
100.0
100.0
.................
T e x a s ...............................
All banks....................................
....
Unit banks
858
858
858
781
781
781
77
77
77
858
858
858
781
781
781
446
446
U6
79
79
79
256
256
256
77
77
77
91.0
91.0
91.0
91.0
91.0
91.0
72
60
55
5
12
72
60
55
5
12
72
60
55
5
12
72
60
55
5
12
21
13
11
2
8
20
20
20
31
27
2A
3
4
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
V e r m o n t ..........................................................
All banks.......................................................
Unit banks ...........................................
Banks operating branches......................
B ranch es.. ....................................................
102
81
72
9
21
102
81
72
9
21
85
73
65
8
12
85
73
65
8
12
43
41
39
2
2
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
V irgin ia
.. .
........
All banks
.
.
.................
Unit banks
..
...................
Banks operating branches....................
B ranches........................................................
385
313
27 A
39
72
384
312
273
39
72
385
313
27A
39
72
384
312
273
39
72
145
130
12 A
6
15
99.7
99.7
99.6
100.0
100.0
99.7
99.7
99.6
100.0
100.0
U ta h . .
All banks
Unit banks
Banks operating branches .
Branches
...
1
1
1
a
42
32
26
6
10
54
46
A2
A
8
185
136
107
29
49
17
8
7
1
9
1
1
1
17
8
7
1
9
100.0
100.0
100.0
100.0
100.0
CORPORATION
1
1
1
INSURANCE
201
163
IAS
20
38
DEPOSIT
202
164
HA
20
38
Unit banks
Banks operating branches
Branches
M utual
savings
banking
offices
FEDERAL
Insured
N on
Insured insured
Insured banking offices
as percentage of—■
12U
9
87
221
134
125
9
87
217
130
121
9
87
127
43
37
6
84
15
14
13
1
1
75
73
71
2
2
4
4
U
W est Virginia...........................
All banks.................................
Unit banks..........................
Banks operating branches.
Branches..................................
180
179
178
174
173
172
180
179
178
174
173
172
1
1
77
77
77
21
21
21
76
75
7U
1
1
6
6
6
W isconsin..................................
All banks.................................
Unit banks..........................
Banks operating branches.
Branches..................................
700
570
684
555
U7U
81
129
117
103
100
3
14
41
34
30
U
7
526
418
3U
7U
108
12
11
10
1
1
58
58
58
26
26
26
9
9
9
23
23
23
1
1
130
W yom in g....................................
All banks.................................
Unit banks...........................
Banks operating branches.
Branches..................................
Hawaii2.......................................
All banks.................................
Unit banks...........................
Banks operating branches.
Branches..................................
1
1
687
558
1*77
81
129
58
58
58
1
1
696
566
U8hr
4
4
U
3
3
3
3
3
3
1
1
1
96.7
96.6
96.6
100.0
100.0
96.7
96.6
96.6
100.0
100.0
98.1
97.9
97.7
98.8
99.2
98.3
98.1
97.9
98.8
99.2
100.0
100.0
100.0
100.0
100.0
100.0
16
15
U
1
1
11.1
11.8
12.5
11.1
11.8
12.5
2
1
2
1
4.9
14.3
4.9
14.3
1
1
1
1
39
6
4
2
33
33.3
2.9
33.3
2.9
75.0
50.0
75.0
50.0
100.0
100.0
100.0
100.0
30
12
6
6
18
3
1
3
1
1
2
1
2
1
1
1
1939, p. 90; 1938, p. 126; 1937, p. 73; 1936 p. 105; 1935, pp. 122-131.
100.0
100.0
100.0
75.0
75.0
75.0
103
98.2
97.0
96.8
100.0
100.0
2
2
2
1 Includes 4 national banks (all unit banks), 2 among insured banks not members of the Federal Reserve System, and 2 among noninsured banks.
2 Includes, among noninsured banks, 1 national bank operating 14 branches.
3 Includes, among insured banks not members of the Federal Reserve System, 1 national bank operating 2 branches.
Back figures— See the following Annual Reports:
98.2
97.1
96.9
100.0
100.0
2
2
2
Puerto R ic o ...............................
All banks.................................
Unit banks..........................
Banks operating branches.
Branches..................................
Virgin Islands3........................
All banks..................................
Unit banks..........................
Banks operating branches.
Branches..................................
3
3
3
OFFICES— END-OF-YEAR
Possession
Alaska1........................................
All banks..................................
Unit banks..........................
Banks operating branches.
Branches..................................
220
133
OF BANKING
224
137
128
9
87
NUMBER
W ashington..............................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
Table 104.
A N A LY SIS OF ADMISSIONS TO AND TERM INATIONS OF INSURANCE IN EACH CLASS OF B A N K ,
1934-1940
g
__________________________________________________________________________________________________
1934-1940
Total
1934
1936
1937
1938
1939
1940
Jan. 1- Aug. 23Aug. 22 D ec. 31
✓
14,219
13,495
U3.201
14,217
14,217
14,219
14,219
14,182
14,182
14,029
14,029
13,853
13,853
13,709
13,709
13,589
13,589
13,495
1,977
1,624
353
1,430
194
42
83
82
48
48
50
509
22
405
2
104
20
355
1
50
1
14
3
33
4
25
1
11
2
11
5
10
5
1
2
3
3
3
1
13
13
989
17
921
68
5
6
2
4
86
76
10
60
16
5
3
1
1
305
142
163
93
49
14
32
45
21
24
27
35
10
25
3
5
6
5
6
Admissions directly offset by term inations— to ta l.........................
939
248
691
193
55
23
120
117
78
131
222
Banks succeeding other banks in same class7........................................
Banks succeeding other insured banks not in same class7..................
Readmissions of banks which had suspended and reopened or had
withdrawn from insurance......................................................................
Admissions to insurance of banks withdrawing from F . R . S ystem ..
Admissions of insured banks to F . R . System8.....................................
137
186
71
41
66
145
53
30
18
11
3
6
15
30
18
35
8
18
16
25
6
31
6
31
579
1
6
129
5
25
450
1
3
22
2
3
107
i.2
1
6
68
2
6
56
5
47
5
85
3
182
Banks organized and opened since deposit insurance became ef
fective:
Banks opened and admitted to insurance in the same calendar
y e a r..........................................................................................................
Banks opened since January 1, 1934, prior to year of admission
to insurance or successors to such banks......................................
Financial institution opened since January 1, 1934, but not
engaged in deposit banking prior to year of admission to
insurance
• ••••••••••••••••••••••••••••*•••#•
1
10
1
1
CORPORATION
1,006
INSURANCE
13,201
14,219
DEPOSIT
Banks in conservatorship or operating under restrictions, or in
receivership or liquidation, when deposit insurance became
effective:
Successors to or reorganizations of banks in conservatorship or
............................................
operating under restrictions5
.
Successors to or reorganizations of banks in receivership or in
process of liquidation® . . ...................................................
U3,201
13,495
FEDERAL
Under
Under
tempor perma
ary plan nent plan
ALL BANKS
Banks operating, or with direct predecessors operating, when de
posit insurance became effective:
Banks of deposit operating January 1, 1934, not previously
insured or successors to such banks2..............................................
Banks previously insured, or successors to such banks®.................
Financial institutions operating January 1, 1934, but not engaged
in deposit banking, or successors to such institutions4...............
^
1935
Term inations not directly offset by admissions— to ta l................
1,078
414
191
80
236
258
192
168
144
Banks suspended or merged with financial aid from F D IC :
Suspended banks not reopened or succeeded....................................
Banks merged with financial aid of F D IC — net reduction............
199
105
9
15
9
40
22
50
20
49
22
32
21
19
20
4
Other terminations:
Withdrawals from insurance of operating banks (excluding those
readmitted during same y e a r )..........................................................
Banks absorbed b y , succeeded b y , or consolidated with nonin
sured b an ks............................................................................................
Banks absorbed b y or consolidated with other insured banks
without financial aid of F D IC — net reduction.............................
Other liquidations.....................................................................................
Insured status terminated by F D IC 9..................................................
191
33
1
6
6
8
3
1
2
588
173
3
172
36
95
40
60
11
139
31
150
36
1
77
37
2
90
25
72
33
Term inations directly offset by admissions— to ta l........................
690
193
56
22
120
117
78
131
222
Banks succeeded b y other banks in same class....................................
Banks succeeded by other insured banks not in same class..............
Suspended banks, or banks withdrawing from insurance, readmitted
Banks withdrawing from F. R . System and admitted to insurance..
Insured banks admitted to F . R . System 8.............................................
66
145
4
25
450
53
30
3
6
1
18
35
2
6
56
16
25
6
31
12
15
30
1
6
68
8
18
3
107
18
11
2
3
22
5
47
5
85
3
182
N um ber insured at beginning of period.............................................
N um ber insured at end of period..........................................................
5,419
5,144
5,153
5,462
5,462
5,419
5,419
5,386
5,386
5,325
5,325
5,260
5,260
5,224
5,224
5,187
5,187
5,144
Admissions not directly offset by term inations— to ta l...............
25
385
16
3
7
7
1
3
4
Banks operating, or with direct predecessors operating, when de
posit insurance became effective:
Successors to banks operating but not insured January 1, 1934..
2
8
1
1
3
3
10
3
Banks organized and opened since deposit insurance became
effective:
Banks opened and admitted to insurance in the same calendar
ye a r..........................................................................................................
23
31
10
2
6
7
1
3
4
Admissions directly offset by terminations— tota l.........................
75
69
12
3
12
22
7
15
16
Banks succeeding other banks in same class7........................................
Banks succeeding other insured banks not in the same class7...........
Readmission of bank which had suspended and reopened.................
8
66
1
44
25
7
5
3
2
10
2
19
1
1
6
2
13
1
15
Term inations not directly offset by admissions— to ta l................
287
97
58
35
59
75
31
41
46
Banks suspended or merged with financial aid from F D IC :
Suspended banks not reopened or succeeded....................................
Banks merged with financial aid of F D IC — net reduction............
9
22
1
3
1
1
2
7
1
4
4
4
1
6
OFFICES— END-OF-YEAR
336
OF BANKING
Banks in conservatorship or operating under restrictions, or in re
ceivership or liquidation, when deposit insurance became ef
fective:
Successors to or reorganizations of banks in conservatorship. . . .
Successors to or reorganizations of banks in receivership or in
process of liquidation......................................... .................................
NUMBER
N A T IO N A L B A N K S M E M B E R S OF T H E F E D E R A L RESE RV E
SYSTEM
T able 104.
A n a l y s i s o f A d m ission s t o an d T e rm in a tio n s o f In s u r a n c e in E a c h C l a s s o f B a n k ,
1935
1934-1940
Total
1934-1940— Continued
Under
Under
tempor perma
ary plan nent plan
1936
1934
1938
1937
1939
1940
Jan. 1- Aug. 23Aug. 22 D ec. 31
11
10
1
5
5
1
57
8
23
3
26
7
36
3
33
2
88
48
13
4
21
19
13
14
17
8
78
2
44
4
7
6
2
19
2
16
1
1
12
2
12
1
16
856
990
990
1,342
856
980
980
990
990
1,001
1,001
1,051
1,051
1,081
1,081
1,114
1,114
1,175
1,175
1,342
62
41
21
40
1
2
3
5
3
2
6
19
2
9
10
2
9
1
1
3
1
5
1
113
28
225
30
Term inations directly offset by adm issions— to ta l........................
149
61
J3cinks succGcd^d by other bsnks in ssnno clciss
• •
Banks succeeded by other insured banks not in same class..............
Suspended banks, or banks withdrawing from insurance, readmitted
59
88
2
51
10
Num ber insured at beginning of period......................................... . .
Num ber insured at end of period...........................................................
856
1,342
Admissions not directly offset by term inations— to ta l................
3
1
S T A T E B A N K S M E M B E R S OF T H E F E D E R A L RESE RV E
SYSTEM
Banks operating, or with direct predecessors operating, when de
posit insurance became effective:
Banks of deposit operating January 1, 1934, not previously
insured or successors to such, bsnks^
Financial institutions operating January 1, 1934, but not engaged
Banks in conservatorship or operating under restrictions, or in
receivership or liquidation, when deposit insurance became
effective:
Successors to or reorganizations of banks in conservatorship or
operating under restrictions5............................................... ..........
Successors to or reorganizations of banks in receivership or in
Banks organized and opened since deposit insurance became
effective:
Banks opened and admitted to insurance in the same calendar
4
4
1
24
25
25
7
5
2
5
5
2
3
2
1
2
1
1
1
1
1
1
CORPORATION
38
12
338
58
INSURANCE
75
16
50
7
DEPOSIT
Other terminations:
Banks absorbed b y, succeeded b y , or consolidated with nonin
sured ban ks............................................................................................
Banks absorbed by or consolidated with other insured banks
without financial aid of F D IC — net reduction.............................
FEDERAL
N A T IO N A L B A N K S M E M B E R S OF T H E F E D E R A L R ESERVE
S Y S TE M — C ontinued
461
109
24
3
1
129
4
7
450
1
1
107
2
Term inations not directly offset by admissions— to ta l...............
86
19
67
11
Banks suspended or merged with financial aid from F D IC :
Suspended banks not reopened or succeeded....................................
Banks merged with financial aid of F D IC — net reduction............
6
5
Other terminations:
W ithdrawals from insurance of operating banks (excluding those
readmitted during same y ea r)...........................................................
Banks absorbed by or consolidated with other insured banks
without financial aid of F D IC — net reduction.............................
Other liquidations.....................................................................................
2
1
1
1
61
12
13
5
48
7
6
4
Terminations directly offset by admissions— to ta l........................
84
21
63
14
Banks succeeded b y other banks in same class....................................
Banks succeeded by other insured banks not in same class..............
Banks withdrawing from F . R . System and admitted to insurance.
7
46
31
3
12
6
4
34
25
1
10
3
Num ber insured at beginning of period..............................................
Num ber insured at end of period..........................................................
106,978
6,956
6,978
7,754
7,754
6,956
106,978
7,707
7,707
7,754
Admissions not directly offset by terminations— total................
1,459
1,158
301
982
459
14
367
2
92
12
317
1
13
70
22
1
12
1
1
68
8
4
11
47
87
186
2
56
47
1
1
85
2
2
182
20
7
13
12
2
1
1
3
1
3
9
1
14
3
6
7
2
8
1
7
12
13
10
15
13
2
2
3
1
5
6
7
6
5
5
1
9
5
2
8
3
7,754
7,739
7,739
7,597
7,597
7,456
7,456
7,323
7,323
7,176
7,176
6,956
176
37
73
70
44
39
38
50
1
13
3
31
3
22
1
11
2
10
1
5
2
2
2
1
3
1
4
6
5
58
1
7
1
4
C O M M E R C IA L B A N K S N O T M E M B E R S OF TH E
F E D E R A L R E S E R V E S Y S TE M
Banks operating, or with direct predecessors operating, when de
posit insurance became effective:
Banks of deposit operating January 1, 1934, not previously
insured, or successors to such banks2..............................................
Banks previously insured, or successors to such banks3.................
Financial institutions operating January 1, 1934, but not engaged
in deposit banking, or successors to such institutions4...............
Banks in conservatorship or operating under restrictions, or in
receivership or liquidation, when deposit insurance became
effective:
Successors to or reorganizations of banks in conservatorship or
operating under restrictions5.............................................................
Successors to or reorganizations of banks in receivership or in
process of liquidation8.........................................................................
Banks organized and opened since deposit insurance became effective:
Banks opened and admitted to insurance in the same calendar
year11........................................................................................................
Ba.nks opened since January 1, 1934, prior to year of admission to
insurance; or successors to such banks...........................................
Financial institution opened since January 1, 1934, but not
engaged in deposit banking prior to year of admission to in
surance ....................................................................................................
9
9
640
623
17
560
63
5
6
2
66
58
8
45
13
4
3
1
235
98
137
59
39
12
25
37
20
20
23
35
10
25
3
5
6
5
6
1
1
10
1
OFFICES— END-OF-YEAR
133
7
8
579
OF BANKING
594
Banks succeeding other banks in same class.........................................
Banks succeeding other insured banks not in same class...................
Admissions of insured banks to F . R . System8....................................
NUMBER
Admissions directly offset by term inations— to ta l........................
Table 104.
A n a l y s is OF A d m ission s t o and T e rm in a tio n s o f I n s u r a n c e in E a c h C l a s s o f B a n k ,
1934-1940
1935
Under
Under
tempor perma
a ry plan nent plan
1936
1934
1938
1937
1940
1939
Jan. 1- Aug. 23Aug. 22 D ec. 31
FEDERAL
Total
o00
1934-1940— Continued
C O M M E R C IA L B A N K S N O T M E M B E R S OF TH E
F E D E R A L R E S E R V E S Y S T E M — Continued
155
15
19
7
38
37
24
29
20
16
14
7
12
13
11
3
14
71
82
17
10
54
72
8
4
9
6
3
2
12
19
5
31
1
6
4
25
1
3
2
3
1
6
1
6
5
5
3
163
146
113
86
46
12
46
18
25
15
18
11
964
249
715
137
112
41
Banks suspended or merged with financial aid from F D IC :
Suspended banks not reopened or succeeded....................................
Banks merged with financial aid of F D IC — net reduction............
203
77
20
183
77
8
12
9
39
21
49
46
3
21
25
3
Other terminations:
"Withdrawals from insurance of operating banks (excluding those
readmitted during same y e a r)...........................................................
Banks absorbed b y , succeeded b y , or consolidated with noninsured banks
.........................
Banks absorbed b y or consolidated with other insured banks
without financial aid of F D IC — net reduction.............................
Other liquidations................................................................ ....................
Insured status terminated by FDIC®
Term inations directly offset by admissions— to ta l........................
Banks succeeded b y other banks in same class.....................................
Banks succeeded by other insured banks not in same class..............
Suspended banks, or banks withdrawing from insurance, readmitted
Insured banks admitted to F . R . System8.............................................
3
2
9
4
5
1
446
178
2
136
43
310
135
2
91
16
45
27
23
9
80
23
79
25
1
43
33
1
57
16
28
29
706
167
539
131
36
18
87
85
55
102
192
71
52
4
579
17
19
2
129
54
33
2
450
8
16
3
3
16
12
1
56
13
4
3
7
12
12
6
1
68
7
1
107
9
3
2
22
47
85
182
214
53
214
56
56
53
214
68
68
56
56
56
56
56
56
56
56
48
48
51
3
M U T U A L SAVIN GS B A N K S
Num ber insured at beginning of period..............................................
Num ber insured at end of period...........................................................
51
53
CORPORATION
Term inations not directly offset by admissions— to ta l................
166
INSURANCE
Banks succeeding other banks in same class7........................................
Banks succeeding other insured banks not in same class7. . . . . . . . .
Readmissions of banks which had suspended and reopened or had
withdrawn from insurance
Admissions to insurance of banks withdrawing from F. R . System.
34
DEPOSIT
189
Admissions not directly offset by term ination— to ta l..................
Banks operating, or with direct predecessors operating, when de
posit insurance became effective:
Banks of deposit operating January 1,1934, not previously insured
Banks previously insured........................................................................
21
23
1
2
182
Banks suspended or merged with financial aid from F D IC :
Suspended bank not reopened or succeeded......................................
Banks merged with financial aid of F D IC — net reduction............
1
4
2
1
}
9
169
13
1
1
177
1
1
1
169
5
1
1
8
8
5
5
1
1
1 The banks admitted to insurance as of January 1, 1934, were licensed, under the provisions of the Executive Order of the President issued March 10, 1933, prior to or
on the date deposit insurance became effective, with the exception of a few banks which were fully or conditionally admitted to insurance as of January 1, 1934, though formally
licensed at a later date. See also footnotes 4 and 10.
2 Excludes banks operating under restrictions but unlicensed under the provisions of the Executive Order of the President issued March 10, 1933.
3 Includes banks which withdrew from insurance during or at the close of the temporary funds, or which were succeeded by noninsured banks and operated as noninsured
banks for three months or more prior to readmission to insurance.
4 These cases include the following types of institutions: (a) trust companies not engaged in deposit banking but with uninvested trust funds eligible for insurance; (b)
industrial and M orns Plan banks and companies not legally authorized to receive deposits on January 1, 1934, which have been authorized by laws enacted since January 1, 1934,
to engage in deposit banking, or whos*3 obligations were recognized by the Corporation as eligible for the protection of deposit insurance; and (c) banks of deposit organized a3
successors to cooperative credit associations, savings and loan associations, Morris Plan companies, and similar institutions. In addition, 40 institutions of these types were
admitted to insurance as of January 1, 1934.
5 Includes a few cases of banks placed under restrictions subsequent to January 1, 1934.
6 Includes a few cases of banks which were in conservatorship or operating under restrictions on January 1,1934, which were subsequently placed in receivership or liquidation,
and were in process of liquidation at the time of reorganization and admission to insurance.
7 Includes private banks incorporated, new charters obtained in connection with consolidation, and charter renewals in cases where corporate identity was not maintained
and the bank was required to reapply for insurance.
8 N o termination of insurance occurs in the case of insured banks not members of the Federal Reserve System which are admitted to that system, but they are insured there
after under subsection (e) rather than subsection (f) of section 12B of the Federal Reserve A ct, as amended. The number of insured banks admitted to Federal Reserve member
ship is shown in this table in order to indicate the admissions and terminations of insured banks by class.
9 1 of these banks subsequently suspended operations.
10 Includes about 460 banks which had been approved for insurance, but from which assessment remittances were not received until after January 1, 1934. Also includes
40 institutions of the types described in footnote 4.
O
11 Includes banks opened subsequent to the suspension of other insured banks in the same communities, but not direct successors to such banks.
OFFICES— END-OF-YEAR
5
2
OF BANKING
1
Term inations not directly offset by admissions— to ta l................
4
21
6
Banks organized and opened since deposit insurance became effective:
Bank opened and admitted to insurance in the same calendar year
Other terminations:
Withdrawals from insurance of operating banks (excluding those
readmitted during same y e a r)...........................................................
Banks consolidated with other insured banks without financial
aid of F D IC — net reduction.............................................................
Other liquidation......................................................................................
Insured status terminated by F D I C ...................................................
6
NUMBER
Banks in conservatorship or operating under restrictions, or in re
ceivership or liquidation, when deposit insurance became
effective:
Successors to or reorganizations of banks in conservatorship or
operating under restrictions...............................................................
24
^
NUMBER OF BANKING OFFICES— M IDYEAR
Table 105.
N
um ber
OF OPERATING BANKING OFFICES, JUNE
29, 1940
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS
Insured
N on
insured
Insured
Total
National
State
N ot
members
F. R.
System
N on
insured
Total
Insured
Non
insured
17,026
1,687
18,028
16,950
6,695
2,232
8,023
1,078
685
76
609
W ith deposits of—
$100 000 or loss
•
$100’ooo to $250,000.......................................
$250 000 to $500,000.......................................
887
2,938
3,528
591
2,645
3,386
296
293
142
8«6
2,935
3,522
591
2,644
3,383
29
372
1,031
10
100
256
552
2,172
2,096
295
291
139
1
3
6
1
3
1
2
3
$500,000 to $1,000,000....................................
$1,000,000 to $2,000,000................................
$2,000,000 to $5,000,000................................
3,602
2,891
2,305
3,490
2,811
2,161
112
80
144
3,578
2,836
2,168
3,484
2,802
2,140
1,586
1,542
1,214
420
441
493
1,478
819
433
94
34
28
24
55
137
6
9
21
18
46
116
$5,000,000 to $10,000,000..............................
$10,000,000 to $50,000,000............................
M ore than $50,000,000...................................
N one or not available1.....................................
816
617
139
990
707
484
122
£90
V
>^«7
109
133
17
oul
702
478
115
808
693
471
113
629
421
298
72
130
179
125
38
170
93
48
3
329
9
7
2
179
114
139
24
182
14
13
9
100
126
15
182
Unit b a n k s........................................................
W ith deposits of—
$100,000 or less.............................................
$100,000 to $250,000...................................
$250,000 to $500,000...................................
13,962
•e
12,603
1,359
13,492
12,560
4,964
1,066
6,530
932
470
43
427
708
2,585
3,089
412
2,292
2,947
296
293
142
707
2,582
3,084
412
2,291
2,945
20
349
885
6
77
199
386
1,865
1,861
295
291
139
1
3
5
1
2
1
2
3
$500,000 to $1,000,000................................
$1,000,000 to $2,000,000............................
$2,000,000 to $5,000,000............................
2,933
2,095
1,532
2,821
2,015
1,388
112
80
144
2,910
2,044
1,403
2,816
2,010
1,375
1,254
1,122
847
269
205
183
1,293
683
345
94
34
28
23
51
129
5
5
13
18
46
116
$5,000,000 to $10,000,000..........................
$10,000,000 to $50,000,000........................
M ore than $50,000,000...............................
527
393
59
A1
41
109
133
17
33
418
263
40
41
409
256
38
g
274
182
29
2
70
46
8
65
28
1
9
7
2
109
130
19
9
4
4
100
126
15
3
3
33
418
260
42
Q
O
CORPORATION
18,713
INSURANCE
All banking offices.............................................
DEPOSIT
Total
Members F. R.
System
FEDERAL
|
Total
Mutual savings banking offices
Commercial banking offices
All banking offices
4,536
4,390
1,731
1,166
1,493
215
33
179
353
439
179
353
438
179
353
438
9
23
146
4
23
57
166
307
235
1
1
$500,000 to $1,000,000................................
$1,000,000 to $2,000,000............................
$2,000,000 to $5,000,000............................
669
796
773
669
796
773
668
792
765
668
792
765
332
420
367
151
236
310
185
136
88
1
4
8
1
4
8
$5,000,000 to $10,000,000..........................
$10,000,000 to $50,000,000........................
More than $50,000,000...............................
N one or not available1.................................
289
224
80
949
289
224
80
621
284
215
75
621
147
116
43
128
109
79
30
167
28
20
2
326
146
5
9
5
182
5
9
5
328
284
215
75
767
1,045
931
114
964
923
200
168
555
41
81
8
8
51
103
8
51
103
8
51
103
8
51
103
1
1
6
51
102
$500,000 to $1,000,000............................
$1,000,000 to $2,000,000........................
$2,000,000 to $5,000,000........................
110
88
95
110
88
95
110
88
95
110
88
95
2
10
32
1
6
19
107
72
44
$5,000,000 to $10,000,000.....................
$10,000,000 to $50,000,000...................
M ore than $50,000,000...........................
N one or not available1............................
94
98
61
337
94
98
61
223
92
94
59
223
44
44
31
35
31
35
26
49
17
15
2
139
41
2
4
2
73
2
4
2
114
92
94
59
264
Branches........................................................
W ith deposits of—
$100,000 or less.........................................
$100,000 to $250.000...............................
$250,000 to $500,000...............................
3,706
3,492
214
3,572
3,467
1,531
998
938
105
134
25
171
302
336
171
302
336
171
302
335
171
302
335
8
23
145
3
23
57
160
256
133
1
1
$500,000 to $1,000,000...........................
$1,000,000 to $2,000,000......................
$2,000,000 to $5,000,000........................
559
708
678
559
708
678
558
704
670
558
704
670
330
410
335
150
230
291
78
64
44
1
4
8
1
4
8
$5,000,000 to $10,000,000.....................
$10,000,000 to $50,000,000...................
M ore than $50,000,000...........................
None or not available1............................
195
126
19
612
195
126
19
398
192
121
16
503
192
121
16
398
103
72
12
93
78
44
4
118
11
5
3
5
3
109
3
5
3
Head offices of banks operating
b ranches...........................................
W ith deposits of—
$100,000 or less.........................................
$100,000 to $250,000...............................
$250,000 to $500,000...............................
328
146
182
c
214
1
187
105
For deposits of these banks, see Table 113.
Back figures— See the following Annual Reports:
1939, p. 98; 1938, p. 136; 1937, p. 80; 1936, p. 112.
73
73
^Deposits of head offices and of branches of noninsured banks operating branches, and of 222 insured banks operating branches, are not available separately.
N o te :
182
109
109
OFFICES— MIDYEAR
4,423
179
353
439
OF BANKING
4,751
NUMBER
All offices of banks operating branches
W ith deposits of—
$100,000 or less.............................................
$100,000 to $250,000...................................
$250,000 to $500,000...................................
Table 106.
N
u m b e r of
O p e r a t i n g B a n k s , Ju n e
29, 1940
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF BANK AND AMOUNT OF DEPOSITS
Commercial banks
Mutual savings banks
Insured banks
s percentage of—
Insured
Total
N on
I nsured insured
Total
13,534
1,473
14,456
13,483
5,164
708
2,616
3,213
412
2,320
3,066
296
296
147
707
2,613
3,208
412
2,319
3,064
349
885
$500,000 to $1,000,000...........
$1,000,000 to $2,000,000____
$2,000,000 to $5,000,000____
3,094
2,237
1,661
2,976
2,150
1,502
118
87
159
3,071
2,186
1,521
2,971
2,145
1,489
$5,000,000 to $10,000,000 . ..
$10,000,000 to $50,000,000. .
M ore than $50,000,000..........
N one or not available.............
653
602
180
43
530
430
139
9
123
172
41
34
535
434
138
43
521
421
132
U nit b a n k s..............................
W ith deposits of—
$100,000 or less....................
$100,000 to $250,000..........
$250,000 to $500,000..........
13,962
12,603
1,359
13,492
12,560
708
2,585
3,089
412
2,292
2,947
296
293
142
707
2,582
3,084
412
2,291
2,945
$500,000 to $1,000,000___
$1,000,000 to $2,000,000. .
$2,000,000 to $5,000,000. .
2,933
2,095
1,532
2,821
2,015
1,388
112
80
144
2,910
2,044
1,403
2,816
$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000
M ore than $ 5 0 ,0 0 0 ,0 0 0 ....
N one or not available.........
527
393
59
41
418
260
42
109
133
17
33
418
263
40
41
1,234
Com
mer
cial
banks
90.2
93.3
9.3
3
58.2
88.7
95.4
58.3
88.7
95.5
33.3
40.0
Mutual
savings
banks
7,085
973
551
77
200
386
1,893
1,979
295
294
144
3
5
1,256
1,130
870
270
211
198
1,445
804
421
100
41
32
23
51
140
18
46
127
96.2
96.1
90.4
96.7
98.1
97.9
21.7
9.8
9.3
327
250
75
106
111
51
4
14
13
118
168
42
109
159
35
81.2
71.4
77.2
20.9
97.4
97.0
95.7
20.9
7.6
5.4
16.7
427
90.3
20
2
4,964
20
6
1,066
6
6
1
2
1
6,530
932
295
291
139
3
5
94
34
28
23
51
129
109
130
19
349
885
77
199
2,010
1,375
1,254
1,122
847
269
205
183
1,293
683
345
409
256
38
274
182
29
70
46
65
28
2
500
34
386
1,865
1,861
8
51
1
3
470
1
43
1
2
9.1
3
58.2
88.7
95.4
58.3
88.7
95.5
18
46
116
96.2
96.2
90.6
96.8
98.3
98.0
100
126
15
79.3
66.2
71.2
19.5
97.8
97.3
95.0
19.5
40.0
21.7
9.8
10.1
8.3
3.1
21.1
CORPORATION
15,007
W ith deposits of—
$100,000 or less........................
$100,000 to $250,000..............
$250,000 to $500,000..............
All
banks
N on
Insured insured
INSURANCE
All banks......................................
Total
DEPOSIT
Total
Members F. R .
N ot
N on
System
members insured
F. R.
National
System
FEDERAL
All banks
Banks operating bran ches.
W ith deposits of—
$100,000 or less......................
$100,000 to $250,000............
$250,000 to $500,000............
931
114
964
923
31
124
28
119
3
5
31
124
28
119
$500,000 to $1,000,000.. .
$1,000,000 to $2,000,000.
$2,000,000 to $5,000,000.
161
142
129
155
135
114
6
7
15
161
142
118
155
135
114
$5,000,000 to $10,000,000. .
$10,000,000 to $50,000,000.
M ore than $50,000,000........
N one or not available..........
126
209
121
2
112
170
97
1
14
39
24
1
117
171
98
2
112
165
94
1
N o te :
200
168
555
41
1
28
118
3
5
2
8
23
1
6
15
152
121
76
6
7
4
53
68
46
36
65
43
1
23
32
5
5
6
4
1
For deposits of these banks, see Table 114.
11
9
38
23
11
5
3
95.7
73
9
33
20
90.3
96.0
90.3
96.0
96.3
95.1
88.4
96.3
95.1
96.6
88.9
81.3
80.2
50.0
95.7
96.5
95.9
50.0
9.9
13.2
13.0
OFFICES— MIDYEAR
1939, p. 100; 1938, p . 138; 1937, p. 82; 1936, p. 112.
8
OF BANKING
Back figures— See the following Annual Reports:
81
NUMBER
1,045
CO
114
T able 107.
NUMBER OF OPERATING BANKS, JUNE 29, 1940
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS
FEDERAL
Mutual savings banks
Commercial banks
All banks
In siired
Insured
T otal
Membo:rs F. R .
Sys tem
j
Total
i
, National
State
N ot
members
F . 11.
System
N on
insured
Total
j Insured
N on
insured
13,534
1,473
14,456
13,483 1
5,164
1,234
7,085
973
551
51
500
14,970
13,530
1,440
14,419
13,479
5,164
1,234
7,081
940
551
51
500
P ossession s
37
4
33
37
4
4
33
S ta te
AlcibiiniJi
Arizona
Arkansas
California
Colorado
218
12
216
206
146
210
12
210
199
138
8
218
12
216
206
146
210
12
210
199
138
66
5
50
99
78
17
2
7
16
13
127
5
153
84
47
8
.......................................
Connecticut
Delaware
• ..............................
District of Columbia
Florida
..........................
fxPnrori'n
..
189
46
22
167
347
100
42
22
164
267
3
80
117
44
22
167
347
100
42
22
164
267
52
15
9
52
52
5
4
5
4
18
43
23
8
108
197
3
80
50
842
503
660
669
49
826
478
588
452
1
16
25
72
217
50
842
499
660
669
49
826
475
588
452
18
329
125
106
182
9
76
34
38
23
22
421
316
444
247
1
16
24
72
217
403
145
100
187
391
372
144
65
176
192
31
1
35
11
199
403
145
68
175
199
372
144
59
174
192
95
29
37
63
125
17
7
5
10
29
260
108
17
101
38
31
1
9
1
7
...
Illinois
• •••....................
Kansas
XTon f n r»lr\7
Louisiana
*
••
M assachusetts...............................................
6
7
8
89
4
6
7
8
17
2
72
2
72
2
4
3
1
32
12
192
6
2
26
10
192
CORPORATION
15,007
U n ited S ta te s ...................................................
INSURANCE
U n ite d S ta tes a n d p oss es sion s — t o t a l . . . .
DEPOSIT
Total
Noninsured
29
30
10
39
456
674
206
620
112
427
644
196
581
112
82
188
24
85
43
135
20
2
60
25
210
436
170
436
44
29
30
10
39
N ebraska............
N ev a d a ...............
N ew Hampshire,
New Jersey........
New M exico. .. .
421
363
11
56
365
40
58
51
16
1
421
11
64
357
41
363
11
56
352
40
135
6
52
225
22
13
1
1
52
5
215
4
3
75
13
58
107
381
41
N ew Y o r k ...........
N orth C arolina.
North D a k o ta . .
O h io.....................
Oklahom a...........
873
227
163
699
391
727
220
150
680
379
146
7
13
19
12
739
227
163
696
391
723
220
150
677
379
429
43
47
244
209
125
10
Oregon.................
Pennsylvania. . .
Rhode Island . . .
South C arolin a..
South D ak ota. . .
73
1,085
32
151
165
71
1,059
16
112
164
2
26
16
39
1
72
1,078
23
151
165
70
1,055
16
112
164
T ennessee...........
T exas...................
U ta h ....................
V erm on t.............
V irginia...............
297
861
59
81
313
288
782
59
81
312
9
79
297
861
59
73
313
Washington . . . .
W est V irgin ia .. .
W isconsin...........
W y om in g ............
140
181
572
58
136
174
560
58
4
7
12
137
181
568
58
N o te :
112
11
For deposits of these banks, see Table 115.
Back figures— See the Annual R eport for 1939, p. 102.
1
1
1
8
5
1
43
24
13
43
11
16
7
13
19
12
134
4
130
112
9
169
167
> 103
321
161
3
3
27
690
12
21
41
7
83
2
5
22
36
282
2
86
101
2
23
7
39
1
1
7
9
1
4
288
782
59
73
312
71
446
13
41
130
6
68
20
9
79
8
8
35
211
268
26
32
147
133
174
557
58
44
78
103
26
16
21
31
9
73
75
423
23
4
7
11
3
3
4
3
3
9
1
1
OFFICES— MIDYEAR
427
645
196
581
112
OF BANKING
456
675
206
620
NUMBER
M ichigan............
M innesota..........
Mississippi.........
M issouri..............
M ontana.............
OT
N
um ber
OF OPERATING BAN KIN G OFFICES OF COMMERCIAL B A N K S , JUNE
FEDERAL
T able 108.
29, 1940
GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY TYPE OF OFFICE AND POPULATION OF CENTER IN WHICH LOCATED
B a n k i n g o ffic e s w it h d e p o s it s o f —
$ 1 0 0 ,0 0 0
or
le s s
$ 1 0 0 ,0 0 0
to
$ 2 5 0 ,0 0 0
$ 2 5 0 ,0 0 0
to
$ 5 0 0 ,0 0 0
1 a non
o c non
O K A AA 4-/-v KA AAA
886
2,935
3,522
3,578
2,836
2,168
960
2 ,1 2 0
265
335
456
999
159
540
28
129
5
12
2
2 ,8 7 2
192
918
1 ,1 0 8
491
72
1
3 ,4 6 7
2 ,0 3 0
51
9
439
1 ,1 9 5
382
649
50
57
1 ,2 5 4
805
152
478
115
808
47
103
90
94
60
28
2
5
.............
1*534
5
19
366
648
357
25
2
.
1 ,3 1 7
621
6
14
30
136
598
121
21
3
20
3
30
23
36
350
99
231
43
410
115
315
707
2,582
263
40
41
409
883
809
43
8
386
1 ,2 9 5
5
1 ,0 7 2
448
6
...
. .
13,492
333
619
777
153
398
3,084
2,910
2,044
1 ,4 0 3
418
138
4
495
27
113
11
997
441
62
1 ,0 7 5
256
1 ,1 0 3
44
36
130
70
692
318
322
545
17
567
295
90
I n c e n te r s w ith p o p u la tio n o f —
j_t____OKA
804
1 ,7 7 3
2 ,4 6 3
2 , 5 0 0 t o 5 , 0 0 0 .....................................................................
1 0 , 0 0 0 t o 2 5 , 0 0 0 ..............................................................
2 5 , 0 0 0 t o 5 0 , 0 0 0 ..............................................................
702
N o n e or
not
a v a ila b le 1
293
84
3 ,1 0 7
T
M ore
$ 5 ,0 0 0 ,0 0 0 $ 1 0 ,0 0 0 ,0 0 0
$ 2 ,0 0 0 ,0 0 0
th a n
to
to
to
$
5
0
,0 0 0 ,0 0 0
$
5
0
,
0
0
0
,
0
0
0
$ 5 ,0 0 0 ,0 0 0 $ 1 0 ,0 0 0 ,0 0 0
2 ,9 7 5
1 ,6 8 1
981
222
262
147
2
11
2
18
9
113
26
305
72
12
21
26
77
156
41
30
4
7
6
2
1
8
2
4
21
2
o
£
509
96
14
191
239
115
182
31
214
40
14
CORPORATION
aaa
to
$ 2 ,0 0 0 ,0 0 0
INSURANCE
c aaa
ia
$ 1 ,0 0 0 ,0 0 0
to
$ 1 ,0 0 0 ,0 0 0
18,028
In ce n te r s w ith p o p u la tio n o f —
-f AAA
O KA A
r\ r a a i _ rr AAA
$ 5 0 0 ,0 0 0
DEPOSIT
A ll
b a n k in g
o ffic e s
All offices of banks operating branches
In centers with population of—
Less than 250...........................................
250 to 500.................................................
500 to 1 ,000.............................................
1.000 to 2 ,5 0 0 ..........................................
2,500 to 5 ,0 0 0 .........................................
5.000 to 10,000 .......................................
1.000 to 2 ,5 0 0 .....................................
2.500 to 5 ,0 0 0 .....................................
5.000 to 10,000 ...................................
10.000 to 2 5 ,0 0 0 .................................
25.000 to 50,000.................................
50.000 or m ore....................................
438
347
409
73
47
116
21
45
45
109
111
8
1
53
13
120
37
2
492
349
239
245
23
45
89
27
40
64
964
8
51
103
30
4
7
9
64
1
1
18
97
17
14
38
135
1
7
256
110
81
463
88
14
22
1
62
4
25
38
538
95
216
92
7
41
30
196
75
301
59
264
12
94
10
24
16
24
4
1
13
11
2
26
3,572
171
302
335
126
39
12
283
312
72
40
98
31
1
10
44
92
73
36
7
1
46
86
110
11
2
31
82
44
80
13
39
58
4
558
2
6
23
1
34
32
10
16
2
8
15
14
14
22
34
53
84
59
101
192
121
16
503
704
1
33
72
60
12
1.000.to 2 ,5 0 0 .....................................
2.500 to 5 ,0 0 0 .....................................
5.000 to 10,000...................................
247
183
10.000 to 2 5 ,0 00 .................................
25.000 to 50,000.................................
50.000 or m ore....................................
112
1
3
1
11
14
19
9
25
63
26
9
16
1 ,7 8 2
7
9
64
252
455
504
163
170
58
24
344
357
767
86
14
34
6
1
1
75
61
10
75
84
14
14
215
43
96
104
12
284
1
1
10
113
48
1
9
2
50
765
151
3
102
56
16
792
60
1
8
173
2 ,1 2 6
668
1
34
52
26
18
16
49
26
4
112
16
200
OFFICES— MIDYEAR
Branches.................................................
In centers with population ofLess than 250......................................
250 to 500.............................................
500 to 1 ,000.........................................
353
43
OF BANKING
Head offices of banks operating
branches.............................................
In centers with population ofLess than 250......................................
250 to 500.............................................
500 to 1 ,0 0 0 .........................................
179
156
NUMBER
10.000 to 2 5 ,0 0 0 .....................................
25.000 to 50,000 .....................................
50.000 or m ore.........................................
4,536
1 Deposits of head offices and of branches of noninsured banks operating branches, and of 222 insured banks operating branches, are not available separately.
117
118
N
um ber
OF OPERATING BAN KIN G OFFICES OF COMMERCIAL B A N K S , JU NE
FEDERAL
T able 109.
29, 1940
GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED AND BY
TYPE OF OFFICE AND POPULATION OF CENTER IN WHICH LOCATED
In ce n te r s w ith p o p u la tio n o f —
T pj -J-!■»qn 9
oca 4-n cnn
caa frk i non
nnn +a 9 ^nn
^ non
(\nc\
i n nnn
1A AAA 4-rk 9 ^ non
25 000 to 50 000
..........................
In ce n te rs w ith p o p u la tio n o f—
n fUnvi OKA
oka 4-/-v
kaa fa 1 nnn
T
1
9
k
nnn
nnn
9
^ non
i n non
1A AAA f r\ ok non
9% 00ft to *>0 000
............................
3
banking
offices
4
banking
offices
5
banking
offices
6
banking
offices
7 or 8
banking
offices
9 to 19
banking
offices
20 or more
banking
offices
222
225
506
2,006
35
110
90
24
54
144
28
197
18
488
2,006
357
188
122
129
254
367
67
150
282
12
43
1
10
17
346
125
57
136
112
54
26
84
50
17
32
73
15
114
6
248
367
472
270
75
165
327
16
52
5
10
20
532
86
20
429
165
69
164
152
88
7,451
3,589
1,035
804
1,773
2^463
797
1,709
2,125
7
62
332
2
6
2,975
1,681
1,295
1,876
574
262
1,031
935
691
1,072
448
981
99
5
4
448
69
14
18,028
8,970
4,118
1,239
960
2,120
2,872
952
2,045
2,508
8
72
358
3
6
3,467
2,030
1,534
2,261
723
335
1,126
1,116
800
1,317
621
3,107
133
8
5
13,492
CORPORATION
1
9
k
2
banking
offices
INSURANCE
AH b a n k in g o ffices ..............................................................
1
banking
office
DEPOSIT
Banking offices in centers with—
banking
offices
22
71
13
83
240
21
35
39
10
9
16
3
3
15
27
34
181
74
61
65
57
1,458
7
14
44
49
1,519
529
156
347
409
155
336
383
1
10
26
1,000 to 2 ,500...................................................................
2,500 to 5,000...................................................................
5,000 to 10,000.................................................................
492
349
239
385
149
73
95
181
109
15
45
10,000 to 25,000...............................................................
25,000 to 50,000...............................................................
50,000 or m ore..................................................................
245
173
2,126
34
3
1
84
17
6
83
40
12
28
40
34
9
26
40
Head offices of banks operating branches........
In centers with population of—
964
307
193
76
41
250 to 500......................................................................
500 to 1 ,000 ..................................................................
30
64
97
30
60
89
4
8
1,000 to 2 ,5 0 0 ..............................................................
2,500 to 5,000..............................................................
5,000 to 10,000............................................................
135
102
56
90
25
9
42
66
32
3
7
13
10,000 to 25,000..........................................................
25,000 to 50,000..........................................................
50,000 or m ore.............................................................
75
61
344
4
33
7
1
26
Branches..........................................................................
In centers with population of—
Less than 250................................................................
250 to 500......................................................................
500 to 1,000..................................................................
3,572
1,212
336
128
126
283
312
125
276
294
1
6
18
1,000 to 2 ,5 0 0 ...............................................................
2,500 to 5,000..............................................................
5,000 to 10,000............................................................
357
247
183
295
124
64
53
115
77
10,000 to 25,000..........................................................
25,000 to 50,000..........................................................
50,000 or m ore.............................................................
170
112
1,782
30
3
1
51
10
5
4
'3
181
19
24
24
'3
6
23
25
10
171
1,458
OFFICES— MIDYEAR
4
5
5
1,639
4
8
57
12
2
32
20
7
OF BANKING
7
82
NUMBER
115
8
20
1,639
252
4,536
204
100
96
All offices of banks operating branches.................
In centers with population of—
Less than 250....................................................................
250 to 500..........................................................................
500 to 1,000......................................................................
CO
T a b le 110.
N u m b e r OF OPERATING COMMERCIAL B A N K S , JUNE 2 9 , 1940
GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
Banks with deposits of—
All
banks
$100,000
or
less
$100,000
to
$250,000
$250,000
to
$500,000
$500,000
$1,000,000 $2,000,000 $5,000,000 $10,000,000
More
to
to
to
to
to
than
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000 $50,000,000
None or
not
available
2,613
2,319
294
3,208
3,064
144
3,071
2,971
100
2,186
2,145
41
1,521
1,489
32
535
521
14
434
421
13
138
132
6
43
9
34
United States............................................
Insured ban k s..............................................
Noninsured banks.......................................
14,419
13,479
940
705
412
293
2,611
2,319
292
3,202
3,064
138
3,066
2,971
95
2,179
2,142
37
1,515
1,488
27
530
521
9
432
421
11
136
132
4
43
9
34
Possessions.....................................................
Insured ban ks..............................................
Noninsured ban ks......................................
37
4
33
2
2
6
5
2
2
6
1
5
2
2
5
7
3
4
5
6
5
2
2
State
A la b a m a ......................................................
Insured b an ks.........................................
Noninsured ban ks..................................
218
210
8
15
13
2
59
55
4
62
62
39
37
2
19
19
16
16
3
3
4
4
1
1
1
1
2
2
1
1
5
5
12
12
Arkansas............................
Insured b an ks.........................................
Noninsured ban ks..................................
216
210
6
27
25
2
67
64
3
50
49
1
39
39
19
19
6
6
3
3
5
5
California.........................................
Insured ban ks.........................................
Noninsured ban ks..................................
206
199
7
1
1
9
7
2
30
30
52
52
38
37
1
37
36
1
13
11
2
13
12
1
12
12
Colorado......................................................
Insured b an k s.........................................
Noninsured banks..................................
146
138
8
9
6
3
28
26
2
33
31
2
30
29
1
25
25
11
11
3
3
6
6
1
1
Connecticut...............................................
Insured ban ks.........................................
Noninsured banks..................................
117
100
17
6
4
2
10
6
4
14
13
1
26
22
4
35
32
3
10
9
1
14
13
1
2
1
1
Delaware.....................................................
Insured ban ks.........................................
Noninsured banks..................................
44
42
2
4
2
2
10
10
12
12
6
6
5
5
1
1
4
4
1
1
District of C olum bia..............................
Insured ban ks.........................................
Noninsured banks..................................
22
22
1
1
1
1
4
4
6
6
8
8
2
2
1
1
3
3
1
1
CORPORATION
A rizona.......................................
Insured ban k s.........................................
Noninsured banks..................................
INSURANCE
707
412
295
DEPOSIT
14,456
13,483
973
FEDERAL
United States and possessions— tota l. ..
Insured b an k s................................................
Noninsured ban ks...........................................
Florida.....................
Insured banks
Noninsured banks
167
3
22
36
37
33
20
7
8
1
164
3
21
1
36
36
1
32
1
20
7
8
1
3
G eorgia....................
Insured banks
Noninsured banks
347
77
94
69
46
26
15
4
267
80
27
50
78
16
68
1
44
2
26
15
4
Id a h o ........................
Insured banks
Noninsured banks
50
2
11
11
14
3
6
1
2
49
1
2
11
11
14
3
5
1
1
2
Illin o is.....................
Insured banks
Noninsured banks
842
18
119
199
212
114
92
45
34
6
3
826
14
116
89
3
34
6
3
209
3
45
4
197
2
114
16
2
1
In d ian a....................
Insured banks
Noninsured banks
499
7
87
142
103
84
46
13
16
1
475
24
4
3
77
10
136
101
2
82
2
45
1
13
16
1
Io w a..........................
Insured b an k s. . . ,
Noninsured banks
660
8
95
588
2
6
76
19
M ain e.......................
Insured b an k s. . .
Noninsured banks
M aryland................
Insured banks
Noninsured banks
M assachusetts........
Insured ban ks. . . ,
Noninsured banks
M ichigan.................
Insured banks
Noninsured banks
220
198
185
98
31
14
5
172
29
2
5
13
92
6
14
22
4
4
669
95
244
152
97
47
25
3
5
452
217
23
72
154
90
120
79
24
1
5
18
43
4
3
32
403
28
109
93
85
52
23
6
6
1
372
31
14
14
100
9
89
82
3
51
1
23
6
6
1
4
1
1
145
5
12
30
39
32
13
5
6
3
144
1
5
12
29
1
39
32
13
5
6
3
68
1
59
9
175
174
1
5
11
3
17
23
7
4
2
9
2
16
1
21
2
6
1
4
1
22
22
36
46
35
17
10
7
2
36
46
35
17
10
6
1
2
199
1
3
10
29
43
59
27
21
5
1
192
1
2
9
1
28
1
43
57
2
27
19
2
5
1
3
7
1
456
5
48
130
109
70
55
16
16
4
427
29
3
38
107
2
68
2
16
15
1
4
10
121
9
55
2
M innesota..............
Insured banks
Noninsured banks
674
12
173
213
170
66
24
9
4
3
644
30
5
159
209
23
1
3
4
64
2
4
14
168
2
9
7
M ississippi............. .
Insured ban ks. . . .
Noninsured banks
206
17
35
56
49
27
15
6
1
196
10
15
33
2
52
4
47
2
27
15
6
1
11
2
3
OFFICES— MIDYEAR
Louisiana................
Insured banks
Noninsured banks
2
OF BANKING
K e n tu ck y................
Insured banks
Noninsured banks
2
3
NUMBER
K ansas.....................
Insured banks
Noninsured banks
72
6
3
11
T able 110.
N
umber
OF O p e r a t i n g C o m m e r c i a l B a n k s , J u n e
29, 1940— Continued
GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
tO
K)
Banks with deposits of—
All
banks
196
178
18
128
125
3
98
97
1
57
57
37
37
18
18
10
10
112
112
2
2
20
20
33
33
32
32
8
8
12
12
1
1
4
4
421
363
58
58
31
27
167
141
26
105
102
3
51
50
1
23
22
1
9
9
1
1
7
7
2
2
4
4
3
3
1
1
6
4
2
12
11
1
20
17
3
12
12
9
8
1
4
4
1
1
15
13
2
60
58
2
108
108
97
97
38
38
32
32
4
4
10
9
1
11
11
11
11
2
2
2
2
1
1
11
11
XT
64
56
8
1
357
352
5
1
TJq fv»
Irp
N ew Jersey
Insured banks
..............................
....
\TAninanrDrl ViJlTllfCi
'Wati/
pvi PA
1
1
41
40
1
Tncnrorl KiJTilrQ
6
6
1
1
5
5
N ew Y o r k
....................................
Insured banks
...........
Noninsured banks
* ....
739
723
16
2
21
19
2
93
92
1
164
162
2
172
171
1
148
145
3
66
65
1
41
40
1
32
29
3
N o rth CflroHnft
Insured banks
.. .
...
227
220
7
9
7
2
45
43
2
53
52
1
42
41
1
39
39
26
26
6
5
1
5
5
2
2
N o rth D a k ota
..................................
TuanrpH KonlfQ
hank's
163
150
13
24
17
7
66
62
4
42
41
1
13
13
10
10
6
6
1
1
O h io
Insured banks
696
677
19
5
2
3
67
59
8
158
151
7
175
174
1
140
140
93
93
29
29
20
20
9
9
391
379
12
28
24
4
119
113
6
119
117
2
59
59
36
36
20
20
5
5
2
2
3
3
*
XTnr»TnciiT,oH ViPTi kQ
.. .
....................................
............................
XTnm'nc nrpH Ko n Ire
. .
O k la h o m a
........................
Insured banks
....
N oninsured ban ks..................................
2
1
1
1
1
CORPORATION
69
52
17
INSURANCE
620
581
39
None or
not
available
DEPOSIT
$250,000
to
$500,000
FEDERAL
$100,000
to
$250,000
N6Vftdfl
Insured banks
Tncmror?
M ore
$500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000
than
to
to
to
to
to
$50,000,000
$50,000,000
$5,000,000
$10,000,000
$1,000,000 $2,000,000
$100,000
or
less
2
2
17
17
16
16
12
12
4
3
1
2
2
46
44
2
139
138
1
247
241
6
269
264
5
242
242
69
68
1
40
39
1
15
15
3
6
4
2
4
4
4
2
2
2
2
14
13
1
6
6
3
3
2
2
18
17
1
8
8
4
4
2
2
2
2
68
68
56
55
1
31
30
1
12
12
3
3
8
8
3
3
194
180
14
185
174
11
92
91
1
49
48
1
22
21
1
27
27
4
4
59
59
206
192
14
6
6
17
17
18
18
8
8
3
3
1
1
6
6
73
73
3
3
10
10
19
19
19
19
20
20
2
2
L,078
1,055
23
5
1
4
Rhode Island...........
Insured b an k s. . . .
Noninsured ban ks.
23
16
7
1
1
South C arolina. . . .
Insured b a n k s. . . .
Noninsured banks.
151
112
39
40
16
24
35
27
8
26
25
1
25
20
5
South D ak o ta.........
Insured b an k s. . . .
Noninsured banks.
165
164
10
10
73
73
48
48
Tennessee.................
Insured b an k s. . . .
Noninsured b an k s.
297
288
9
27
24
3
89
85
4
T exas..........................
Insured b an k s. . . .
Noninsured banks.
861
782
79
70
45
25
U ta h ............................
Insured b an k s. . . .
Noninsured banks.
V e rm on t....................
Insured b an k s. . . .
Noninsured banks.
1
3
3
3
313
312
3
3
39
38
1
67
67
87
87
63
63
36
36
9
9
7
7
2
2
W ash in gto n .............
Insured b an k s. . . .
Noninsured banks.
137
133
4
6
5
1
27
26
1
40
40
29
29
13
13
8
7
1
7
6
1
5
5
2
2
W est Virginia..........
Insured ban ks. . . .
Noninsured banks.
181
174
7
4
1
3
14
13
1
40
40
52
50
2
36
36
22
21
1
8
8
5
5
W isconsin.................
Insured b an k s. . . .
Noninsured banks.
568
557
6
5
1
88
86
2
155
150
5
140
137
3
102
102
56
56
12
12
7
7
11
W yom in g...................
Insured b an ks. . . .
Noninsured banks.
58
58
2
2
7
7
13
13
21
21
8
8
4
4
3
3
For deposits of these banks, see Table 116.
1939, p . 104; 1938, p. 140; 1937, p. 84 1936, p . 114 1935, p . 132.
2
2
123
N ote :
Back figures— See the following Annual Reports:
12
12
Virginia.....................
Insured ban k s. . . .
Noninsured banks.
1
6
3
3
OFFICES— MIDYEAR
Pennsylvania...........
Insured b an k s. . . .
Noninsured banks.
1
BANKING
1
OF
72
70
2
NUMBER
18
18
Oregon........................
Insured b a n k s . . . .
Noninsured banks.
T a b le 1 11 .
NUMBER OF COMMERCIAL BANKS OPERATING BRANCHES AND NUMBER OF BRANCHES, JUNE
29, 1940
124
BANKS OPERATING BRANCHES GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM AND BRANCHES GROUPED ACCORDING TO
LOCATION OF BRANCH AND BY POPULATION OF CENTER IN WHICH LOCATED AND STATE
Character of branch system
In more
than one
State1
State
wide
All
branches |
In head
office
city
Elsewhere
in head
office
county
Elsewhere
in head
office
State
Outside
head
office
State1
441
244
3
3,572
1,620
787
1,159
6
276
441
233
3
3,517
1,620
774
1,117
6
13
42
1,000 to 2 ,5 0 0 ...................................................................
2,500 to 5,000 .................................
...............
5,000 to 10,000.................................................................
135
102
56
10,000 to 25,0 00 ...............................................................
25,000 to 50,000...............................................................
50,000 or m ore..................................................................
75
61
344
S ta te
A labam a.............................................................................
A rizon a...............................................................................
Arkansas.............................................................................
C alifornia...........................................................................
C olorado.............................................................................
3
4
14
33
C onnecticut.......................................................................
Delaware............................................................................
District of C o lu m b ia ...................................................
Florida.................................................................................
G eorgia...............................................................................
6
6
11
2
11
23
43
58
7
21
39
126
283
312
1
1
88
184
172
38
98
139
1
2
5
102
78
36
32
22
15
357
247
183
2
5
5
118
72
52
237
170
126
14
25
229
32
20
49
29
16
63
3
170
112
1,782
17
40
1,549
41
22
38
112
50
189
6
1
3
4
11
1
20
26
15
854
3
1
6
2
1
10
15
5
7
10
76
12
18
5
537
3
3
1
1
3
4
5
6
6
1
2
1
7
15
13
30
3
26
11
1
2
2
13
2
5
35
3
32
32
66
155
25
1
41
116
38
2
2
11
2
7
41
116
11
30
84
238
5
2
30
1
CORPORATION
30
64
97
55
INSURANCE
I n c e n te r s w ith p o p u la tio n o f —
Less than 250....................................................................
250 to 500 . . . .
...........
500 to 1,0 0 0 ..................................
...................
11
DEPOSIT
276
953
11
County
wide
964
P o s se s sio n s ...........................................................................
Id a h o...................................................................................
Illinois.................................................................................
Indiana...............................................................................
Iow a.....................................................................................
Kansas.................................................................................
City
wide
FEDERAL
Ail
branch
systems
Location of branch
48
2
24
N ebraska..............
N eva d a .................
New Hampshire.
New Jersey..........
New M ex ico........
2
2
2
51
4
New Y o r k ..........
North Carolina.
North D a k o ta . .
O h io.....................
O klahom a...........
92
44
15
39
O regon..............
P ennsylvania. .
Rhode Island . .
South Carolina.
South D a k o ta ..
4
44
Tennessee.
Texas........
U ta h .........
V erm on t. .
Virginia. ..
19
15
5
8
39
2
5
17
W ashington. .
W est Virginia.
W isconsin. . . .
W yom in g. . . .
25
43
11
6
18
1
82
5
6
3
8
30
6
20
19
2
21
34
63
4
31
3
1
29
52
57
79
116
21
163
6
42
128
i6‘
2
15
2
2
11
2
117
6
11
11
21
4
38
87
14
26
10
3
644
126
596
9
22
170
i23
2
11
6
2
2
2
4
10
65
95
38
11
79
17
3
1
1
53
25
22
2
26
9
23’
i9 ‘
31
4
2
1
’ ‘ 84'
14
14
5
24
1
6
28
28
19
27
2
1
30
31
12
42
16
86
3
13
14
12
51
3
7
18
24
17
18
15
12
72
'21
31
9
3
20
22
36
50
.„ .
1
10
5
3
3
14
12
82
17
62
22
130
18'
24 ‘
1
.
1 Out-of-State branches are operated as follows: 1 bank in California operates 1 branch in Oregon and 2 branches in Washington; 1 bank in New Jersey operates 1 branch
in Pennsylvania; and 1 bank in New York operates 1 branch in Massachusetts and 1 branch in Pennsylvania.
Back figures— See the following Annual Reports:
OFFICES— MIDYEAR
M ichigan............
M innesota............
M ississippi......... .
M issouri...............
M ontana............. .
20
OF BANKING
13
27
NUMBER
K en tu ck y.............
Louisiana.............
M a in e...................
M arylan d . . . . . . .
M assachusetts. . ,
1939, p. 110; 1938, p . 134; 1937, p. 90; 1936, p. 120.
to
Oi
126
Table 112.
29, 1940
NUMBER OF OPERATING MUTUAL SAVINGS BANKS, JUNE
GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE
$100,000
to
$250,000
$250,000
to
$500,000
1
3
1
2
5
2
3
140
13
127
18
20
1
18
20
1
72
3
8
22
72
3
8
22
1
1
1
1
S tate
C o n n e c t ic u t .........................................................................
N oninsured ban k s............................................................
1
2
2
4
3
1
2
2
1
10
2
8
1
2
1
1
1
4
3
1
10
2
M a in e .....................................................
Insured banks
Noninsured banks..........................
32
6
26
M a r y la n d ..............................................................................
Insured banks
Noninsured banks............................................................
12
2
10
2
M a s sa ch u se tts ....................................................................
192
1
1
7
12
54
N oninsured banks............................................................
192
1
1
1
1
7
12
54
51
M in n e so ta
Insured banks
N ew H a m p sh ire
Noninsured banks.
.
...........
........................
1
1
10
2
2
1
2
4
2
1
4
2
51
60
6
60
6
1
1
43
6
10
19
4
4
43
6
10
19
4
4
CORPORATION
Noninsured banks
In d ia n a
Insured banks
Noninsured banks
INSURANCE
42
7
35
51
5
46
551
51
500
D elaw are
168
9
159
118
9
109
23
5
18
U n ite d S ta tes— t o t a l ............................................................
Insured b an k s.......................................................................
Noninsured banks................................................................
DEPOSIT
$100,000
or
less
$500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 M ore than
to
to
to
to
to
$50,000,000
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000
FEDERAL
Banks with deposits of—
All
banks
New Jersey...........................................................................
Insured banks...................................................................
Noninsured banks............................................................
24
13
11
New Y o r k .............................................................................
Insured banks...................................................................
Noninsured banks............................................................
134
4
130
5
5
O h io ........................................................
Insured banks...................................................................
Noninsured banks...........................................................
3
3
1
1
Oregon...............................................................................
Insured banks...................................................................
Noninsured banks...........................................................
1
1
Pennsylvania......................................................................
Insured banks...................................................................
Noninsured banks...........................................................
7
4
3
Rhode Island..................................................................
Insured banks...................................................................
Noninsured banks...........................................................
9
1
1
1
5
1
9
1
1
1
5
1
V erm on t.........................................................................
Insured banks...................................................................
Noninsured banks...........................................................
8
8
2
2
2
2
W ashington........................................................................
Insured banks...................................................................
Noninsured banks...........................................................
3
3
W isconsin.............................................................................
Insured banks...................................................................
Noninsured banks............................................................
4
3
1
10
5
5
1
21
25
21
25
1
1
58
1
57
25
3
22
1
1
2
1
1
3
1
2
1
2
2
1
1
2
2
1
1
2
2
1
1
1939, p. 108; 1938, p. 144; 1937, p. 88; 1936, p. 118; 1935 p. 140.
1
1
1
1
OFFICES— MIDYEAR
1
1
1
1
OF BANKING
127
7
4
3
1
1
For deposits of these banks, see Table 117 .
Back figures— See the following Annual Reports:
3
2
1
2
1
1
NUMBER
N o te :
1
1
to
CX)
DEPOSITS OF BANKING OFFICES
T able 113.
DEPOSITS OF OPERATING BAN K IN G OFFICES, JUNE
29, 1940
OFFICES GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS
Insured
Insured
Total
Total
Members F. R.
System
National j
State
N ot
members
F. R.
System
N on
insured
N on
insured
1,900,490 10,632,827
1,427,505
9,205,322
(In thousands of dollars)
A ll b a n k in g o ffic e s ................... 70,958,708 59,852,896 11,105,812 60,325,881 58,425,391 33,013,714 18,715,406
6,696,271
59,099
512,454
1,286,825
42,027
465,238
1,237,761
17,072
47,216
49,064
59,000
511,955
1,284,769
42,027
465,100
1,236,622
1,880
69,171
391,105
583
19,482
97,680
39,564
376,447
747,831
16,973
46,855
48,147
99
499
2,056
138
1,139
99
361
917
$500,000 to $1,000,000...........
$1,000,000 to $2,000,000----$2,000,000 to $5,000,000-----
2,592,651
4,093,918
7,063,703
2,515,324
3,980,228
6,595,624
77,327
113,690
468,079
2,574,140
4,012,183
6,614,748
2,510,464
3,966,874
6,531,507
1,170,053
2,180,036
3,724,415
308,560
632,061
1,522,180
1,031,851
1,154,777
1,284,912
63,676
45,309
83,241
18,511
81,735
448,955
4,860
13,354
64,117
13,651
68,381
384,838
$5,000,000 to $10,000,000 . . . 5,611,137 4,839,047
$10,000,000 to $50,000,000. . 12,385,505 9,567,344
M ore than $50,000,000.......... 23,922,962 21,748,557
N ot available1.......................... 13,430,454 8,861,746
772,090 4,801,808 4,736,883 2,867,365
2,818,161 9,461,059 9,280,459 5,915,433
2,174,405 21,663,511 20,793,709 12,775,314
4,568,708 9,342,708 8,861,746 3,918,942
1,248,993
2,482,387
7,783,102
4,620,372
620,525
882,639
235,293
322,432
64,925
180,600
869,802
480,962
809,329
2,924,446
2,259,451
4,087,746
102,164
286,885
954,848
707,165
2,637,561
1,304,603
4,087,746
U n it b a n k s
..................... 32,982,621 26,445,517
W ith d ep osits o f —
30,429
47,501
$100 000 or less
• •■
405,472
452,688
$100 000 to $250 0 00 .........
$250*000 to $500,000.......... 1,123,606 1,074,542
6,537,104 27,337,527 25,917,999 17,059,165
4,001,699
4,857,135
1,419,528
5,645,094
527,518
5,117,576
16,973
46,855
48,147
99
499
1,711
138
794
99
361
917
17,072
47,216
49,064
47,402
452,189
1,121,895
30,429
405,334
1,073,748
1,449
65,100
333,547
441
14,989
75,976
28,539
325,245
664,225
$500,000 to $1,000,000----- 2,094,105
$1,000,000 to $2,000,000. . 2,952,079
$2,000,000 to $5,000,000. . 4,662,976
2,016,778
2,838,389
4,194,897
77,327
113,690
468,079
2,076,099
2,875,964
4,237,639
2,012,423
2,830,655
4,154,398
918,727
1,577,359
2,574,212
194,400
293,190
569,536
899,296
960,106
1,010,650
63,676
45,309
83,241
18,006
76,115
425,337
4,355
7,734
40,499
13,651
68,381
384,838
$5,000,000 to $10,000,000. 3,611,066
$10,000,000 to $50,000,000 7,790,084
M ore than $50 ,00 0 ,0 0 0.... 10,248,516
2,838,976
4,971,923
8,074,111
772,090
2,818,161
2,174,405
2,837,099
5,079,874
8,609,366
2,772,174
4,899,274
7,739,564
1,859,708
3,495,829
6,233,234
485,371
917,149
1,450,647
427,095
486,296
55,683
64,925
180,600
869,802
773,967
2,710,210
1,639,150
66,802
72,649
334,547
707,165
2,637,561
1,304,603
CORPORATION
W ith d ep osits o f —
$100 000 or less
$100[000 to $250,000..............
$250,000 to $500,000..............
INSURANCE
Insured
Total
DEPOSIT
Total
N on
insured
FEDERAL
Mutual savings banking offices
Commercial banking offices
All banking offices
All offices of banks operat
ing b ranches........... 37,976,087 33,407,379
W ith deposits of—
$100,000 or less.................
11,598
11,598
$100,000 to $250,000____
59,766
59,766
$250,000 to $500,000____
163,219
163,219
$500,000 to $1,000,000.. .
$1,000,000 to $2,000,000.
$2,000,000 to $5,000,000.
498,546
1,141,839
2,400,727
899,987
11,598
59,766
162,874
431
4,071
57,558
142
4,493
21,710
11,025
51,202
83,606
345
345
498,041
1,136,219
2,377,109
498,041
1,136,219
2,377,109
251,326
602,677
1,150,203
114,160
338,871
952,644
132,555
194,671
274,262
505
5,620
23,618
505
5,620
23,618
1,964,709 1,964,709
4,381,185 4,381,185
13,054,145 13,054,145
4,568,708 9,342,708 8,861,746
1,007,657
2,419,604
6,542,080
3,918,942
763,622
1,565,238
6,332,455
4,620,372
193,430
396,343
179,610
322,432
35,362
214,236
620,301
4,087,746
35,362
214,236
620,301
14,933,591 14,933,591
6,962,888
6,982,619
988,084
13
87
490
9,796
37,115
498,546
1,141,839
2,400,727
$5,000,000 to $10,000,000
2,000,071
2,000,071
$10,000,000 to $50,000,000 4,595,421 4,595,421
M ore than $50,000,000... 13,674,446 13,674,446
N ot available1.................... 13,430,454 8,861,746
Head offices of banks
operating branches 15,374,038 15,374,038
W ith deposits of—
$100,000 or less.................
590
590
$100,000 to $250,000____
9,796
9,796
$250,000 to $500,000____
37,596
37,596
81,304
125,570
322,585
81,304
125,570
322,585
$5,000,000 to $10,000,000
679,269
679,269
$10,000,000 to $50,000,000 2,269,626 2,269,626
M ore than $50,000,000... 11,847,702 11,847,702
480,962
440,447
4,087,746
440,447
590
9,796
37,596
590
9,796
37,596
481
81,304
125,570
322,585
81,304
125,570
322,585
1,724
14,140
108,150
918
7,486
70,904
78,662
103,944
143,531
665,421
665,421
2,139,577 2,139,577
11,551,152 11,551,152
319,761
1,094,739
5,423,880
224,306
731,256
5,947,662
121,354
313,582
179,610
13,848
130,049
296,550
13,848
130,049
296,550
9,171,595
9,171,595
8,712,055
8,712,055
5,072,719
3,110,716
528,620
459,540
459,540
11,008
49,970
125,623
11,008
49,970
125,623
11,008
49,970
125,278
11,008
49,970
125,278
418
4,071
57,077
55
4,493
21,710
10,535
41,406
46,491
345
345
$500,000 to $1,000,000.. .
$1,000,000 to $2,000,000.
$2,000,000 to $5,000,000.
417,242
1,016,269
2,078,142
417,242
1,016,269
2,078,142
416,737
1,010,649
2,054,524
416,737
1,010,649
2,054,524
249,602
588,537
1,042,053
113,242
331,385
881,740
53,893
90,727
130,731
505
5,620
23,618
505
5,620
23,618
$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
M ore than $50,000,000.
1,320,802
2,325,795
1,826,744
1,320,802
2,325,795
1,826,744
1,299,288
2,241,608
1,502,993
1,299,288
2,241,608
1,502,993
687,896
1,324,865
1,118,200
539,316
833,982
384,793
72,076
82,761
21,514
84,187
323,751
21,514
84,187
323,751
1 Deposits of head offices and branches of noninsured banks operating branches and of 222 insured banks operating branches are not available separately.
or 34 noninsured commercial banks for which data are not available.
OFFICES
Branches.....................
W ith deposits of—
$100,000 or less..........
$100,000 to $250,000.
$250,000 to $500,000.
N o te :
4,087,746
OF BANKING
$500,000 to $1,000,000.. .
$1,000,000 to $2,000,000.
$2,000,000 to $5,000,000.
480,962
DEPOSITS
4,987,733
11,598
59,766
162,874
4,568,708 32,988,354 32,507,392 15,954,549 14,713,707
Excludes figures
For the number of banks on which these deposit figures are based, see Table 105.
129
Back figures— See the Annual R eport for 1939, p. 112.
CO
o
Table 114.
D
e p o s it s
OF OPERATING BANKS, JUNE
29, 1940
All banks
Commercial banks
FEDERAL
BANKS GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF BANK AND AMOUNT OF DEPOSITS
Mutual savings banks
Insured
Insured
Non
insured
Total
Total
Members F. R .
System
National
State
N ot
members
F. R.
System
N on
insured1
6,696,271
1,900,490 10,632,827
Total
Insured
N on
insured
1,427,505
9,205,322
DEPOSIT
Total
(In thousands of dollars)
70,958,708 59,852,896 11,105,812 60,325,881 58,425,391 33,013,714 18,715,406
47,501
458,950
1,171,075
30,429
411,184
1,119,770
17,072
47,766
51,305
47,402
458,451
1,169,364
30,429
411,046
1,118,976
1,449
65,100
333,547
441
14,989
76,441
28,539
330,957
708,988
16,973
47,405
50,388
99
499
1,711
138
794
99
361
917
$500,000 to $1,000,000___
$1,000,000 to $2,000,000. .
$2,000,000 to $5,000,000. .
2,210,322
3,153,053
5,085,382
2,129,024
3,028,985
4,569,177
81,298
124,068
516,205
2,192,316
3,076,938
4,626,023
2,124,669
3,021,251
4,528,678
920,295
1,589,610
2,655,619
195,190
302,284
625,845
1,009,184
1,129,357
1,247,214
67,647
55,687
97,345
18,006
76,115
459,359
4,355
7,734
40,499
13,651
68,381
418,860
$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000
More than $50,000,000-----
4,505,104 3,628,267
12,637,416 8,748,481
41,689,905 36,187,579
876,837 3,658,936 3,561,465 2,232,170
749,867
3,888,935 8,837,922 8,519,017 5,051,665 2,310,504
5,502,326 36,258,529 35,109,860 20,164,259 14,439,845
579,428
1,156,848
505,756
97,471
318,905
1,148,669
846,168
3,799,494
5,431,376
66,802
229,464
1,077,719
779,366
3,570,030
4,353,657
U nit b a n k s..........................
W ith deposits of—
$100,000 or less...............
$100,000 to $250,000. . .
$250,000 to $500,000. . .
32,982,621 26,445,517
6,537,104 27,337,527 25,917,999 17,059,165
4,001,699
4,857,135
1,419,528
5,645,094
527,518
5,117,576
47,501
452,688
1,123,606
30,429
405,472
1,074,542
17,072
47,216
49,064
47,402
452,189
1,121,895
30,429
405,334
1,073,748
1,449
65,100
333,547
441
14,989
75,976
28,539
325,245
664,225
16,973
46,855
48,147
99
499
1,711
138
794
99
361
917
2,094,105
2,952,079
4,662,976
2,016,778
2,838,389
4,194,897
77,327
113,690
468,079
2,076,099
2,875,964
4,237,639
2,012,423
2,830,655
4,154,398
918,727
1,577,359
2,574,212
194,400
293,190
569,536
899,296
960,106
1,010,650
63,676
45,309
83,241
18,006
76,115
425,337
4,355
7,734
40,499
13,651
68,381
384,838
3,611,066
$5,000,000 to $10,000,000
$10,000,000 to $50,000,000 7,790,084
10,248,516
M ore than $50,000,000..
2,838,976
4,971,923
8,074,111
772,090
2,818,161
2,174,405
2,837,099
5,079,874
8,609,366
2,772,174 1,859,708
4,899,274 3,495,829
7,739,564 II 6,233,234
485,371
917,149
1,450,647
427,095
486,296
55,683
64,925
180,600
869,802
773,967
2,710,210
1,639,150
66,802
72,649
334,547
707,165
2,637,561
1,304,603
$500,000 to $1,000,000..
$1,000,000 to $2,000,000
$2,000,000 to $5,000,000
CORPORATION
W ith deposits of—
$100,000 or less.............
$100,000 to $250,000. .
$250,000 to $500,000. .
INSURANCE
All banks.
Banks operating branches 37,976,087 33,407,379
W ith deposits o f $100,000 or less.........
5,712
6,262
$100,000 to $250,000
45,228
47,469
$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. .
116,217
200,974
422,406
112,246
190,596
374,280
894,038
789,291
$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000 4,847,332 3,776,558
31,441,389 28,113,468
M ore than $50,000,000.
4,568,708 32,988,354 32,507,392 15,954,549 14,713,707
480,962
465
5,712
44,763
550
2,241
790
9,094
56,309
109,888
169,251
236,564
3,971
10,378
14,104
34,022
264,496
821,837
789,291
372,462
104,747
1,070,774 3,758,048 3,619,743 1,555,836 1,393,355
3,327,921 27,649,163 27,370,296 13,931,025 12,989,198
152,333
670,552
450,073
32,546
138,305
278,867
72,201
1,089,284
3,792,226
550
2,241
6,262
47,469
5,712
45,228
3,971
10,378
48,126
116,217
200,974
388,384
112,246
190,596
374,280
1,568
12,251
81,407
For the number of banks on which these deposit figures are based, see Table
Back figures— See the following Annual Reports:
4,087,746
34,022
156,815
743,172
72,201
932,469
3,049,054
OF BANKING
OFFICES
106.
1939, p. 114; 1938, p . 150; 1937, p. 96; 1936, p. 125; 1935, p p. 150-54.
899,987
DEPOSITS
1 Excludes figures for 34 noninsured commercial banks for which data are not available.
N o te :
4,987,733
1,839,136
h->CO
132
Table 115.
DEPOSITS OF OPERATING B
an ks,
Ju n e
29, 1940
BANKS GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS
(In thousands of dollars)
FEDERAL
Mutual savings banks
Commercial banks
All banks
Insured
1,900,490 10.632.827
1.427.505
9.205.322
1,682,626 10.632.827
1.427.505
9.205.322
United States and posses
sions— to ta l........................ 70,958,708 59,852,896 11,105,812 60,325,881 58,425,391 33,013,714 18,715,406
6,696,271
United States......................... 70,733,204 59,845,256 10,887,948 60,100,377 58,417,751 33,013,714 18,715,406
6,688,631
N on
insured1
Total
Total
Members F. R.
System
National
217,864
47,372
10,639
24,782
820,492
33,813
45,173
17,454
53,384
457,769
25,067
2,082
322,314
19,703
225,068
350,287
335,296
81,862
126,599
123,619
14,411
74,830
152,088
53,440
35,990
87,307
87,215
94,805
351
52,729
3,734,792
537,474
250,253
240,500
34,351
893,866
110,256
107,168
23,115
10,798
394,803
302,976
300,743
95,426
2,549
12,074
9,913
33,526
48,498
257,892
476,122
382,716
543,142
197.821
125,745
691.822 | 411,055
2,121,355 ! 1,604,999
70,793
58,167
34,634
149,288
391,044
147,437
102,259
37,442
131,479
125,312
6,710
415
17,764
28,537
66,273
225,504
7,640
217,864
225,504
7,640
State
Alabam a................................
A rizon a..................................
Arkansas................................
C alifornia..............................
C olorad o................................
328,358
92,863
190,899
4,408,232
342,894
326,276
92,863
189,996
4,371,969
341,070
2,082
328.358
92,863
190,899
4,408,232
342,894
326,276
92,863
189,996
4,371,969
341,070
233,731
64,770
111,830
3,093,708
282,190
C onnecticut..........................
Delaware................................
District of Colum bia..........
Florida....................................
G eorgia..................................
1,391,441
241,619
384,677
454,214
503,153
556,264
199,742
384,677
452,005
497,341
835,177
41,877
2,209
5,812
651,069
200,093
384,677
454,214
503,153
556,264
199,742
384,677
452,005
497,341
Id a h o......................................
Illinois....................................
Ind iana..................................
Iow a ........................................
Kansas...................................
100,427
5,035,535
980,828
691,690
407,539
97,878
5,023,461
964,366
658,164
359,041
2,549
12,074
16,462
33,526
48,498
100,427
5,035,535
960,619
691,690
407,539
97,878
5,023,461
950,706
658,164
359,041
K en tu ck y..............................
Louisiana...............................
M a in e.....................................
M arylan d ..............................
M assachusetts.....................
482,832
543,557
344,644
948,812
4,350,184
476,122
543,142
212,582
693,437
2,121,355
6,710
415
132,062
255,375
2,228,829
482,832
543,557
215,585
720.359
2,187,628
903
36,263
1,824
740,372
41,526
740,372
41,526
2,209
5,812
20,209
13,660
6,549
14,761
1,615
114,298
226,838
2,162,556
I
129,059
228,453
2,162,556
CORPORATION
7,640
Possessions..............................
903
36,263
1,824
State
Total
INSURANCE
Non
insured
N on
insured1
Insured
DEPOSIT
Insured
N ot
members
F. R.
System
Total
M ichigan............
M innesota..........
M ississippi.........
M issouri.............
M ontana.............
1,700,035
1,036,282
199,026
1,587,143
145,686
1,672,742
1,025,866
195,274
1,581,503
145,686
N ebraska............
N eva d a ...............
New Hampshire
New Jersey........
N ew M exico. . . .
323,240
43,125
285,417
2,147,648
62,514
314,487
43,125
84,643
1,954,362
62,149
25,296,330 19,367,652
481,358
474,337
97,642
72,944
2,648,578 2,643,856
465,805
463,876
1,700,035
969,341
199,026
1,587,143
145,683
1,672,742
958,925
195,274
1,581,503
145,686
943,826
750,180
69,210
718,244
82,307
502,165
16,102
12,719
630,596
43,713
226,751
192,643
113,345
232,663
19,666
27,293
10,416
3,752
5,640
8,753
323,240
43,125
91,473
1,820,448
62,514
314,487
43,125
84,643
1,817,851
62,149
254,606
39,845
74,118
864,319
49,701
5,673
899
1,364
590,621
2,138
54,208
2,381
9,161
382,911
10,310
8,753
7,504,949 10,453,725
111,159
196,493
49,895
1,150,353 1,047,738
410,910
4,955
*200,774
193,286
365
5,928,678 19,625,461 18,599,721
7,021
481,358
474,337
24,698
97,642
72,944
4,722 2,524,689 2,519,967
1,929
465,805
463,876
66,941
66,941
6,830
2,597
365
193,944
327,200
136,511
193,944
190,689
641,047
166,685
23,049
321,876
48,011
1,025,740
7,021
24,698
4,722
1,929
5,670,869
767,931
4,902,938
123,889
123,889
2,860
610,020
179,595
2,860
164,309
57,435
57,435
73,074
73,074
4,825
4,519
329,498
5,283,132
259,018
147,286
96,742
3,854
502,313
244,132
7,200
610
330,492
5,175,425
323,555
154,486
97,352
326,638
5,118,823
259,018
147,286
96,742
301,415
3,142,952
107,959
101,562
59,045
4,515
1,322,386
144,523
10,348
13,383
20,708
653,485
6,536
35,376
24,314
3,854
56,602
64,537
7,200
610
Tennessee...........
T exas...................
U ta h ....................
V erm on t.............
V irginia...............
571,906
1,606,888
160,951
171,125
639,557
5 6 9 ,1 8 6
17580,038
160,951
171,125
639,349
2,720
26,850
571,906
1,606,888
160,951
113,690
639,557
569,186
1,580,038
160,951
113,690
639,349
429,788
1,405,510
74,136
58,517
387,392
43,495
50,784
57,749
2,720
26,850
' 115,226
95,903
123,744
29,066
55,173
136,731
W ashington
W est V irginia.. .
W isconsin...........
W yom in g............
598,510
312,183
987,249
66,823
587,233
307,915
982,707
66,823
525,436
312,183
982,424
66,823
514,159
307,915
978,188
66,823
456,772
170,520
559,276
48,196
25,871
70,662
111,582
4,880
31,516
66,733
307,330
13,747
11,277
4,268
4,236
208
11,277
4,268
4,542
208
1 Excludes figures for 34 noninsured commercial banks for which data are not available.
N o te :
For the number of banks on which these deposit figures are based, see Table 107.
Back figures— See the following Annual Reports:
445,711
179,595
306
OFFICES
333,352
5,785,445
503,150
154,486
97,352
OF BANKING
Oregon.................
Pennsylvania. . .
Rhode Island. . .
South C arolina..
South D a k o ta ...
DEPOSITS
N ew Y o r k ..........
N orth Carolina.
N orth D a k ota . .
O h io.....................
Oklahom a...........
27,293
10,416
3,752
5,640
1939, p. 116; 1938, p. 152; 1937, p. 98; 1936, p. 126; 1935, p. 150; 1934, p. 182.
CO
CO
T able 116.
D
e p o s it 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, Ju n e
29, 1940
134
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
Banks with deposits of—
All
banks
$ 100,000
or
less
$100,000
to
$250,000
$250,000
to
$500,000
$500,000
to
$1,000,000
$1,000,000
to
$2,000,000
$2,000,000
to
$5,000,000
$5,000,000
to
$10,000,000
$10,000,000
to
$50,000,000
More than
$50,000,000
458,451
411,046
47,405
1,169,364
1,118,976
50,388
2,192,316
2,124,669
67,647
3,076,938
3,021,251
55,687
4,626,023
4,528,678
97,345
3,658,936
3,561,465
97,471
8,837,922
8,519,017
318,905
36,258,529
35,109,860
1,148,669
United States..........
Insured b an k s. . . .
Noninsured banks.
60,100,377
58,417,751
1,682,626
47,252
30,429
16,823
458,097
411,046
47,051
1,167,406
1,118,976
48,430
2,188,640
2,124,669
63,971
3,066,584
3,016,446
50,138
4,606,595
4,525,843
80,752
3,626,502
3,561,465
65,037
8,787,654
8,519,017
268,637
36,151,647
35,109,860
1,041,787
Possessions...............
Insured b an ks. . . .
Noninsured banks.
225,504
7,640
217,864
150
354
1,958
3,676
106,882
1,958
3,676
19,428
2,835
16,593
50,268
354
10,354
4,805
5,549
32,434
150
32,434
50,268
106,882
328,358
326,276
2,082
1,026
993
33
10,360
9,629
731
22.789
22.789
27,145
25,827
1,318
25.404
25.404
46.948
46.948
16.148
16.148
107.594
107.594
70.944
70.944
330
330
1.925
1.925
1.133
1.133
19.990
19.990
State
A la b a m a ........................
Insured ban k s............
Noninsured banks. ..
69,485
69,485
92.863
92.863
Arkansas.......................
Insured ban ks...........
N oninsured ban ks. . .
190,899
189,996
903
1 612
l ’,512
100
11,380
10,978
402
18,713
18,312
401
27.114
27.114
25.388
25.388
16,682
16,682
21.252
21.252
68.758
68.758
California.....................
Insured ban ks...........
Noninsured banks. . .
4,408,232
4,371,969
36,263
93
93
1,718
1,370
348
11.911
11.911
39.242
39.242
54,477
53,074
1,403
110,644
107,238
3,406
88,576
75,191
13,385
278,342
260,621
17,721
3.823.229
3.823.229
Colorado........................
Insured banks...........
Noninsured banks. . .
342,894
341,070
1,824
655
425
230
5,071
4,749
322
12,696
11,991
705
19,926
19,359
567
34.709
34.709
30.618
30.618
21.234
21.234
154.228
154.228
63.757
63.757
Connecticut.................
Insured ban ks...........
Noninsured banks. . .
651,069
556,264
94,805
1,108
709
399
3,572
2,077
1,495
10,607
9,998
609
40,440
33,979
6,461
110,257
103,419
6,838
76,264
68,352
7,912
260,989
249,466
11,523
147,832
88,264
59,568
Delaware..................... ..
Insured ban k s...........
Noninsured banks. . .
200,093
199,742
351
643
292
351
3.703
3.703
8.652
8.652
10.041
10.041
14.456
14.456
5.069
5.069
64.790
64.790
92.651
92.651
District of Colum bia.
Insured ban ks...........
Noninsured banks. ..
384.677
384.677
955
955
1.185
1.185
12,736
12,736
45,173
45,173
150,191
150,191
174,437
174,437
88
88
CORPORATION
A rizona..........................
Insured b an k s...........
Noninsured banks. . .
INSURANCE
47,402
30,429
16,973
DEPOSIT
60,325,881
58,425,391
1,900,490
FEDERAL
(In thousands of dollars)
United States and
sions— to ta l.........
Insured ban ks...........
Noninsured banks1. .
454,214
452,005
2,209
186
186
3,856
3,745
111
12.760
12.760
25,616
25,089
527
48,277
46,706
1,571
57.334
57.334
47.908
47.908
201.409
201.409
56.868
56.868
G e o r g ia ...................................
Insured b an k s....................
Noninsured ban ks.............
503,153
497,341
5,812
3,395
1,857
1,538
16,377
13,800
2,577
23,971
23,716
255
32,051
30,609
1,442
36.193
36.193
45.517
45.517
25.591
25.591
89.269
89.269
230.789
230.789
I d a h o .......................................
Insured b an k s....................
100,427
97,878
2,549
139
139
1.897
1.897
3.654
3.654
9.507
9.507
5.189
5.189
19,481
16,932
2,549
5.536
5.536
55.024
55.024
I l li n o is ....................................
Insured b an k s....................
Noninsured banks.............
5,035,535
5,023,461
12,074
1,281
989
292
22,345
21,840
505
72,192
71,545
647
153,231
151,182
2,049
161.477
161.477
291,367
282,786
8,581
307.753
307.753
568.690
568.690
3.457.199
3.457.199
I n d i a n a ...................................
Insured ban k s....................
Noninsured banks.............
960,619
950,706
9,913
513
328
185
15,924
14,323
1,601
51,187
49,046
2,141
75,209
74,054
1,155
121,575
119,327
2,248
142,278
139,695
2,583
79.369
79.369
328.735
328.735
145.829
145.829
I o w a .........................................
Insured ban ks....................
Noninsured ban ks.............
691,690
658,164
33,526
642
176
466
17,607
14,325
3,282
80,167
72,529
7,638
128,174
119,995
8,179
134,700
126,931
7,769
88,791
82,599
6,192
90.974
90.974
150.635
150.635
K a n s a s ....................................
Insured ban k s....................
Noninsured ban ks.............
407,539
359,041
48,498
6,598
1,703
4,895
40,993
26,580
14,413
53,441
43,008
10,433
66,951
55,150
11,801
64,928
60,260
4,668
66,396
64,108
2,288
20.540
20.540
87.692
87.692
K e n t u c k y ..............................
Insured ban k s....................
Noninsured ban ks.............
482,832
476,122
6,710
2,021
1,138
883
18,179
16,906
1,273
34,866
33,289
1,577
61,166
59,301
1,865
70,420
69,308
1,112
62.272
62.272
40.367
40.367
128.326
128.326
65.215
65.215
L o u is ia n a ...............................
Insured b an k s....................
Noninsured banks
543,557
543,142
415
405
405
2,163
2,163
10,846
10,431
415
28.315
28.315
41.583
41.583
35.577
35.577
33.623
33.623
128.505
128.505
262.540
262.540
OF BANKING
M a in e ..................................
Insured b an k s....................
Noninsured ban ks.............
215,585
197,821
17,764
235
2,070
1,249
821
8,220
6,809
1,411
24,810
23,080
1,730
69,443
64,391
5,052
58,462
49,947
8,515
52.345
52.345
235
M a r y la n d ...............................
Insured ban k s................
Noninsured banks
720,359
691,822
28,537
3,954
3,954
14,280
14,280
33.282
33.282
54.487
54.487
55.781
55.781
65.791
65.791
208,426
179,889
28,537
284.358
284.358
OFFICES
M a s sa c h u se tts.....................
Insured ban k s....................
Noninsured banks.
2,187,628
2,121,355
66,273
78
78
514
353
161
3,956
3,611
345
22,617
21,702
915
62.169
62.169
191,161
185,069
6,092
197.571
197.571
431,763
373,003
58,760
1.277.799
1.277.799
M ic h ig a n ................................
Insured b an k s....................
Noninsured ban ks.............
1,700,035
1,672,742
27,293
389
204
185
9,255
7,220
2,035
48,301
45,282
3,019
75,508
74,041
1,467
94,810
92,242
2,568
166,262
166,262
114.052
114.052
281,708
263,689
18,019
909.750
909.750
M in n e s o t a .............................
Insured b an k s....................
Noninsured ban ks.............
969,341
958,925
10,416
899
415
484
30,656
28,665
1,991
78,141
76,802
1,339
120,142
118,552
1,590
91,328
88,618
2,710
66,585
64,283
2,302
58.884
58.884
95.370
95.370
427.336
427.336
M is s is s ip p i............................
Insured b an k s....................
Noninsured ban ks.............
199,026
195,274
3,752
1,316
1,145
171
6,064
5,681
383
20,720
19,037
1,683
34,006
32,491
1,515
37.198
37.198
47.489
47.489
39.946
39.946
12.287
12.287
DEPOSITS
F lo r id a .....................................
Insured b an k s....................
Table 116.
D
e p o s it s
OF O p e r a t i n g C o m m e r c i a l B a n k s , J u n e
29, 1940— Continued
CO
o*
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
Banks with deposits of—
All
banks
$100,000
to
$250,000
$100,000
or
less
$250,000
to
$500,000
| $500,000
to
| $1,000,000
$1,000,000
to
$2,000,000
$5,000,000
to
$10,000,000
$10,000,000
to
$50,000,000
More than
$50,000,000
116.263
116.263
130.421
130.421
178.942
178.942
929.931
929.931
1,587,143
1,581,503
5,640
5,054
3,984
1,070
33,926
30,895
3,031
44,956
44,017
939
(In thousands of dollars)
78.872
68,778
68,178
78.872
600
M o n ta n a ...................
Insured ban ks. . . .
Noninsured ban ks.
145.686
145.686
119
119
3.610
3.610
11.770
11.770
21.750
21.750
11.335
11.335
41.247
41.247
8.303
8.303
47.552
47.552
Nebraska...................
Insured b an ks. . . .
N oninsured ban ks.
323,240
314,487
8,753
4,253
2,454
1,799
27,121
23,279
3,842
36,879
35,904
975
34,196
33,410
786
32,221
30,870
1,351
23.799
23.799
7.641
7.641
157.130
157.130
Nevada........................
Insured b an k s. . . .
Noninsured banks.
43.125
43.125
722
722
3.061
3.061
3.759
3.759
2.459
2.459
New H am psh ire. . .
Insured ban ks. . . .
Noninsured banks.
91,473
84,643
6,830
982
684
298
4,315
3,828
487
15,142
12,633
2,509
17.743
17.743
26,961
23,503
3,458
26.252
26.252
’78'
New Jersey...............
Insured b an k s. . . .
Noninsured banks.
1,820,448
1,817,851
2,597
198
198
5,886
5,124
762
46,623
44,794
1,829
158.529
158.529
299.263
299.263
253.191
253.191
666.994
666.994
’ 6'
New M exico.............
Insured b an ks. . . .
Noninsured banks.
62,514
62,149
365
577
577
3,654
3,289
365
7.363
7.363
15.528
15.528
7.754
7.754
16.495
16.495
11.143
11.143
New Y o r k ..................
Insured b an k s. . . .
Noninsured banks.
19,625,461
18,599,721
1,025/740
94
4,278
3,878
400
35,492
35,202
290
120,317
119,151
1,166
247,394
245,965
1,429
466,319
453,405
12,914
442,147
437,119
5,028
869,436
847,236
22,200
17,439,984
16,457,765
982,219
North Carolina. . . .
Insured b an k s. . . .
Noninsured banks.
481,358
474,337
7,021
662
512
150
7,918
7,567
351
19,459
19,195
264
29,889
29,092
797
54.073
54.073
71.980
71.980
38,007
32,548
5,459
80.301
80.301
179.069
179.069
North D ak o ta.........
Insured ban ks. . . .
Noninsured banks.
97,642
72,944
24,698
1,564
1,239
325
10,849
10,145
704
14,682
14,299
383
8.543
8.543
13.291
13.291
18.374
18.374
7.053
7.053
O h io ............................
Insured b an ks. . . .
Noninsured banks.
2,524,689
2,519,967
4,722
434
168
266
12,475
11,213
1,262
58,797
56,164
2,633
125,176
124,615
561
198.396
198.396
274.549
274.549
199.110
199.110
421.613
421.613
1.234.139
1.234.139
O klahom a.................
Insured ban ks. . . .
Noninsured banks.
465,805
463,876
1,929
2,213
1,898
315
20,118
19,187
931
40,784
40,101
683
40.762
40.762
49.102
49.102
63.194
63.194
33.047
33.047
37.134
37.134
179.451
179.451
6
33.124
33.124
389.758
389.758
CORPORATION
23,286
23,286
INSURANCE
78
DEPOSIT
M issou ri....................
Insured b an k s. . . .
Noninsured banks.
FEDERAL
$2,000,000
to
$5,000,000
8
Pennsylvania...........
Insured banks. . . .
Noninsured banks.
5,175,425
5,118,823
56,602
280
95
185
Rhode Island...........
Insured ban ks. . . .
Noninsured banks.
323,555
259,018
64,537
25
25
South Carolina. . . .
Insured ban k s. . . .
N oninsured banks.
154,486
147,286
7,200
1,834
1,023
811
5,917
4,759
1,158
9,262
8,956
306
17,476
14,286
3,190
South D ak ota.........
Insured ban ks. . . .
Noninsured banks.
97,352
96,742
610
820
820
12.690
12.690
16.676
16.676
Tennessee.................
Insured b an k s. . . .
Noninsured banks.
571,906
569,186
2,720
2,062
1,868
194
14,901
14,421
480
T exas..........................
Insured b an k s. . . .
Noninsured banks.
1,606,888
1,580,038
26,850
4,738
3,062
1,676
U ta h ............................
Insured ban k s. . . .
N oninsured banks.
3.495
3.495
6.332
6.332
10.446
10.446
15.814
15.814
11,457
7,671
3,786
14.399
14.399
9,616
9,187
429
53,008
52,710
298
186,098
181,880
4,218
383,162
377,633
5,529
743.036
743.036
480,114
470,465
9,649
699,228
662,934
36,294
2.620.883
2.620.883
2.419
2.419
5,353
20,109
13,222
6,887
25.237
25.237
91,507
39,210
52,297
178.905
178.905
20,395
18,660
1,735
20.454
20.454
18.285
18.285
60.863
60.863
12,518
11,908
610
11.367
11.367
11.227
11.227
11.309
11.309
20.745
20.745
24.788
24.788
39,276
38,486
790
43,569
42,313
1,256
35.005
35.005
20.391
20.391
197.131
197.131
194.783
194.783
35,103
32,895
2,208
70,436
65.386
5,050
128,299
120,756
7,543
123,350
122,105
1,245
153,667
151,415
2,252
151,848
144,972
6,876
602.694
602.694
336.753
336.753
160.951
160.951
1.251
1.251
6.428
6.428
13.342
13.342
11.733
11.733
8.707
8.707
6.797
6.797
112.693
112.693
V e rm on t....................
Insured b an k s. . . .
Noninsured banks.
113.690
113.690
526
526
3.895
3.895
13.197
13.197
27.141
27.141
55.099
55.099
13.832
13.832
Virginia.....................
Insured ban ks. . . .
Noninsured banks.
639,557
639,349
208
235
235
7,418
7,210
208
24.355
24.355
62.140
62.140
87.463
87.463
108.039
108.039
60,018
60,018
152.623
152.623
137.266
137.266
W ash in gto n .............
Insured ban ks. . . .
Noninsured banks.
525,436
514,159
11,277
470
406
64
4,567
4,329
238
14.798
14.798
21,061
21,061
17.496
17.496
23,366
20,604
2,762
54,685
46,472
8,213
117.792
117.792
271.201
271.201
W est Virginia..........
Insured ban ks. . . .
Noninsured banks.
312,183
307,915
4,268
286
75
2,921
2,755
166
14.493
14.493
37,912
36,831
1,081
48.235
48.235
63,489
60,679
2,810
43.878
43.878
100.969
100.969
211
W isconsin.................
Insured ban k s. . . .
Noninsured banks.
982,424
978,188
4,236
456
407
49
16,210
15,985
225
56,185
54,104
2,081
99,291
97,410
1,881
135.802
135.802
159.523
159.523
84.254
84.254
130.193
130.193
W yom in g...................
Insured b an k s. . . .
N oninsured ban ks.
66.823
66.823
165
165
1.131
1.131
5.088
5.088
14.004
14.004
13.540
13.540
13.190
13.190
19.705
19.705
' '6 8 '
5,353
300.510
300.510
137
OFFICES
1 Excludes figures for 34 noninsured commercial banks for which data are not available.
N o te :
For the number of banks on which these deposit figures are based, see Table 110.
Back figures— See the following Annual Reports: 1939, p, 118; 1938, p. 154; 1937, p. 100; 1936, p . 128; 1935, p. 156
268.481
268.481
OF BANKING
330,492
326,638
3,854
DEPOSITS
Oregon........................
Insured b an k s. . . .
Noninsured banks.
DEPOSITS OF OPERATING M U T U A L SAVINGS B A N K S , JUNE
138
Table 117.
29, 1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE
Banks with deposits of—
$100,000
to
$250,000
$250,000
to
$500,000
99
499
138
361
1,711
794
917
More
$1,000,000 $2,000,000 $5,000,000 $10,000,000
$500,000
than
to
to
to
to
to
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000 $50,000,000
(In t;housands of dollars)
10,632,827
1,427,505
9,205,322
S ta te
f'! ah ti o r t l pii t
..
99
18,006
4,355
13,651
76,115
7,734
68,381
459,359
40,499
418,860
846,168
66,802
779,366
3,799,494
229,464
3,570,030
5,431,376
1,077,719
4,353,657
2,013
12,378
68,547
130,359
450,328
76,747
740,372
2,013
12,378
68,547
130,359
450,328
76,747
9,577
31,949
9,577
31,949
41,526
41,526
268
129,059
14,761
114,298
268
343
228,453
1,615
226,838
MciccorliiiQPttQ
.................
2,162,556
2,162,556
3,700
2,740
960
14,928
14,928
1.615
1.615
343
5.230
5.230
14,979
8,430
6,549
34,239
5,108
29,131
34,880
6,913
27,967
41,044
4,976
9,388
66,260
145,871
4,976
9,388
66,260
145,871
41,044
99
191
5,315
18,206
177,528
357,020
1,112,183
492,014
99
191
5,315
18,206
177,528
357,020
1,112,183
492,014
66.941
66.941
66.941
66.941
Noninsured ban ks...................................................
193,944
4,850
13,613
65,001
23,701
86,779
193,944
4,850
13,613
65,001
23,701
86,779
CORPORATION
20,209
13,660
6,549
INSURANCE
740,372
DEPOSIT
$100,000
or
less
FEDERAL
All
banks
2,521
1,071
1,450
8,705
5,010
3,695
53,624
29,642
23,982
168,534
100,311
68,223
93,339
5,670,869
767,931
4,902,938
7,806
69,982
185,108
7,806
69,982
185,108
1,615,030
45,568
1,569,462
3,792,943
722,363
3,070,580
O h io ............................
Insured b a n k s. . . .
Noninsured banks.
123.889
123.889
1.487
1.487
Oregon........................
Insured b an k s. . . .
Noninsured banks.
2,860
2,860
2,860
2,860
Pennsylvania...........
Insured ban k s. . . .
Noninsured banks.
610,020
164,309
445,711
7.651
7.651
Rhode Island...........
Insured ban k s. . . .
Noninsured banks.
179,595
170
513
179,595
'i70
513
New Jersey...............
Insured b an k s. . . .
Noninsured banks.
327,200
136,511
190,689
New Y o r k ..................
Insured b a n k s. . . .
Noninsured banks.
73.074
73.074
W isconsin.................
Insured b an k s. . . .
Noninsured ban ks.
4,825
4,519
306
N o te :
3.341
3.341
7.473
7.473
138
138
306
1.835
1.835
306
For the number of banks on which these deposit figures are based, see Table 112.
Back figures— See the following Annual Reports:
4.621
4.621
1939, p. 122; 1938, p. 158; 1937, p . 104; 1936, p . 132; 1935 p. 164.
2.546
2.546
13.839
13.839
515,601
108,390
407,211
105,302
67,895
105,302
67,895
35.317
35.317
65.601
65.601
OFFICES
W ash in gto n .............
Insured b an k s. . . .
N oninsured ban ks.
317
317
86,768
48,268
38,500
OF BANKING
57.435
57.435
114.424
114.424
7.978
7.978
5,715
93,339
DEPOSITS
V e rm o n t....................
Insured ban k s. . . .
Noninsured banks.
477
477
CO
<£>
ASSETS AND LIABILITIES OF OPERATING BANKS
Table 1 18.
SUMMARY OF ASSETS AND LIABILITIES OF OPERATING BANKS IN THE UNITED STATES AND POSSESSIONS, 1935-1940
140
BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BANK
(Amounts in millions of dollars)
1935
D ec. 31
1936
June 30
1938
1937
D ec. 31
June 30
D ec. 31
June 30
1939
D ec. 31
June 30
1940
D ec. 30
June 29
D ec. 31
FEDERAL
A L L C O M M E R C IA L A N D M U T U A L S A V IN G S
BANKS
ASSETS
Loans, discounts, and overdrafts...........................................
T o t a l a s s e t s ............................................................................
14,872
15,510
10,035
20,291
3,236
63.944
15,060
17,330
10,509
20,601
3,284
66.784
16,819
17,479
10,618
21,388
3,265
69.569
15,520
16,933
10,260
22,461
3,214
68.388
15,902
16,683
9,739
22,119
3,093
67.536
17,392
16,787
9,496
21,053
2,990
67.718
18,262
18,006
9,609
21,315
3,144
70.336
20,544
18,800
9,522
21,309
3,005
73.180
23,324
19,462
9,283
22,130
2,923
77.122
25,597
19,753
9,326
22,310
2,755
79.741
28,122
21,032
9,438
23,742
2,710
85.044
58,159
728
7,897
66.784
60,926
689
7,954
69.569
59,586
775
8,027
68.388
58,829
671
8,036
67.536
59,120
594
8,004
67.718
61,638
668
8,030
70.336
64,416
651
8,113
73.180
68,413
609
8,100
77.122
70,959
624
8,158
79.741
76,192
644
8,208
85.044
Number of banks included..........................................
Number of banks not included2.................................
Total operating ban k s.............................................
15,878
62
15,940
15,776
62
15,838
15,655
59
15,714
15,525
59
15,584
15,398
46
15,444
15,293
50
15,343
15,203
54
15,257
15,096
41
15,137
15,040
45
15,085
14,970
37
15,007
14,917
33
14,950
ASSETS
13,919
13,454
7,125
15,208
2,329
52.035
14,109
14,982
7,683
15,607
2,333
54.714
15,800
14,987
7,820
16,434
2,302
57.343
14,609
14,217
7,461
17,514
2,243
56.044
15,003
13,919
7,053
17,222
2,156
55.353
16,458
13,779
6,983
16,192
2,094
55.506
17,247
14,787
7,176
16,485
2,242
57.937
19,449
15,415
7,199
16,617
2,139
60.819
22,009
15,989
7,163
17,471
2,081
64.713
24,031
16,322
7,219
17,612
1,990
67.174
26,493
17,612
7,569
19,035
1,995
72.704
Miscellaneous liabilities............................................................
Total capital accou nts...............................................................
T o ta l lia b ilitie s a n d c a p ita l a c c o u n t s ........................
45,125
573
6,337
52.035
47,637
648
6,429
54.714
50,281
602
6,460
57.343
48,832
683
6,529
56.044
48,228
587
6,538
55.353
48,469
520
6,517
55.506
50,791
589
6,557
57.937
53,573
587
6,659
60.819
57,485
550
6,678
64.713
59,853
563
6,758
67.174
65,288
582
6,834
72.704
Number of banks included..........................................
Number of banks not included2.................................
Total operating ban ks..............................................
14,179
3
14,182
14,115
6
14,121
14,026
3
14,029
13,941
2
13,943
13,851
2
13,853
13,779
4
13,783
13,707
2
13,709
13,618
2
13,620
13,586
3
13,589
13,531
3
13,534
13,491
4
13,495
Loans, discounts, and overdrafts...........................................
T o t a l a s s e t s ...........................................................................
LIABILITIES AND CAPITAL
3
W
ej
>
£
Q
H
CORPORATION
A L L IN SU R E D B A N K S
INSURANCE
Total capital accou nts...............................................................
T o ta l lia b ilitie s a n d ca p ita l a c c o u n t s ........................
55,512
657
7,775
63.944
Cash and amounts due from other ban ks............................
United States Government obligations1................................
hh
o
ui
3
LIABILITIES AND CAPITAL
T otal deposits..............................................................................
DEPOSIT
Cash and amounts due from other b an k s............................
United States Government obligations1................................
M
U
H
W
£
“
M
ft
O
O
W
*3
O
^
!%
3
O
2
A L L N O N IN SU R E D B A N K S
951
2,348
2,826
4,994
951
12,070
1,019
2,492
2,798
4,954
963
12 226
911
2,716
2,799
4,947
971
12 344
899
2,764
2 686
4^897
937
12 183
934
3,008
O CIO
4,861
otJO
LIABILITIES AND CAPITAL
Total deposits.................................
Miscellaneous liabilities............................
Total capital a ccou nts...............................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s .....................
10,387
84
1,438
11,909
10,522
80
1,468
12,070
10 645
87
1,494
12,226
10,754
92
1,498
12,344
10 601
* 84
1,498
12,183
Num ber of banks included.........................
Number of banks not included2................
Total operating b an k s...........................................
1,699
59
1,758
1,661
56
1,717
1,629
56
1,685
1,584
57
1,641
ASSETS
Cash and amounts due from other ban k s.........
United States Government obligations1.............
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
15,164
2,361
52,786
14,516
15,346
7,714
15,571
2,347
55,494
16,254
15,291
7,888
16,415
2,323
58 171
LIABILITIES AND CAPITAL
Total deposits...............................
Miscellaneous liabilities...............
T otal capital accou n ts..................
T o t a l lia b ilitie s a n d ca p ita l a c c o u n t s . .
45,632
636
6,518
52,786
48,184
705
6,605
55,494
15,312
62
15,374
ASSETS
Cash and amounts due from other ban k s...........
United States Governm ent obligations1.............
Other securities......................
Loans, discounts, and overdrafts. . .
Miscellaneous assets...............
T o t a l a s s e t s .............................
LIA BILITIES AND CAPITAL
T otal deposits...............................
Miscellaneous liabilities. . . .
T otal capital accou nts......................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s . .. .
1,015
3,219
2,433
4,830
1,315
3,473
2,120
4,659
842
12,409
1,566
3,431
2,107
4,698
765
12,567
1,629
3,420
1,869
4,707
715
12,340
1A /'Kl
iu,oo±
7A
t4
1 A%rI7
1,4o
12,212
10,847
7Q
1,473
12 399
10,843
OA
04
1,454
12 361
10,928
59
1,422
12,409
11,106
61
1,400
12,567
10,904
62
1,374
12,340
1,547
44
1,591
1,514
46
1,560
1,496
52
1,548
1,478
39
1,517
1,454
AO
1,496
1,439
oQ4A
1,473
1,426
29
1,455
14,991
14,591
7 514
17*,489
2 276
56*861
15,355
14,219
7 062
17^190
9 171
^^1(1
Re OQ7
00,77/
16,815
14,097
7i ,uuo
(\(\K
16,149
9
non
Ld,uyu
56,156
17,676
15,117
7,229
16,440
2,260
CQ 70')
Oo,/ZZ
19,842
15,742
7,245
16,442
2,140
61,411
22,509
16,343
7,103
17,263
2,058
65,276
24,618
16,608
7,179
17,427
1,964
67,796
27,154
17,794
7,373
18,830
1,945
73,096
Ol/,ODt)
670
6 636
58,171
751
* 6 687
56,861
AQ
4o,000
RAQ
D4«7
£Q9
55,997
48,908
£79
0
(6
6,676
56,156
51,355
A/f Q
o4o
6,719
58,722
53,985
C
Q
OO
jU
O
6,798
61,411
57,887
588
6,801
65,276
60,325
595
6,876
67,796
65,532
619
6,945
73,096
15,211
62
15,273
15,092
59
15,151
14,963
59
15,022
14,836
46
14,882
14,731
50
14,781
14,649
04
14,703
14,544
14,585
14,489
AtZ
40
14,534
14,419
Q7i
O
14,456
14,366
33
14,399
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
529
2,342
2 746
4^972
938
11,DZ/
547
2,464
9 ,u
£77
(i
4,929
Q
•7O
LdO
Lt
1 1 K?0
11)007
577
2,690
9
/1Q1i
^,4y
A OOzf
4,yu4
onn
yuu
11,562
586
2 889
2^380
4,875
QQ^
oo4
11,614
709
3,058
2,277
4,867
865
11,769
o81laK
3,119
2,180
4,867
865
11,846
979
3,145
2,147
4,883
791
11,945
yoo
3,238
2,065
4,912
765
11,948
9 880
’ 21
1,257
11,158
9 975
’ 23
1,292
11,290
10 061
’ 19
1,318
11,398
10 163
* 24
1,340
11,527
10
1hi oq
IU,X
22
1 344
11,’ 539
1A
019£
iU ,£i
99
1,328
11,562
10,283
on
6\J
1,311
11,614
10,431
9Q
40
1,315
11,769
10,526
Ol
Z
JL
1,299
11,846
10,634
29
1,282
11,945
10,660
25
1,263
11,948
566
565
563
562
562
562
554
552
551
---------------- --------------- ,--------------- --------------- --------------— ---------- zrzz _ _ _ _ _ _ _ r — ■■ — —.......... -
551
A L L C O M M E R C IA L B A N K S
Number of banks................................
551
---------------
BANKS
A L L M U T U A L S A V IN G S B A N K S
OF OPERATING
Num ber of banks included..............
Num ber of banks not included2.......................
Total operating b an k s...............................
LIABILITIES
12,399
1,095
3,385
2,323
4,692
QDO
O
12,361
AND
953
2,056
2,910
5,083
907
11,909
ASSETS
ASSETS
Cash and amounts due from other ban k s...........................
United States Government obligations1.............................
Other securities..................................................
Loans, discounts, and overdrafts..................................
Miscellaneous assets.......................................
T o t a l a s s e t s ................................................
T a b le 118.
SUMMARY OF ASSETS AND LIABILITIES OF OPERATING BANKS IN THE UNITED STATES AND POSSESSIONS, 193 5 -1 94 0 — Continued
BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BAN K
142
(Amounts in millions of dollars)
1935
1936
1940
1939
1938
1937
D ec. 31
June 30
D ec. 31
June 30
D ec. 30
June 29
D ec. 31
13,851
13,275
6,841
14,719
2,241
50,927
14,039
14,772
7,412
15,131
2,238
53,592
15,730
14,750
7,558
15,965
2,208
56,211
14,540
13,965
7,214
17,044
2,142
54,905
14,931
13,669
6,807
16,750
2,055
54,212
16,371
13,525
6,753
15,726
1,994
54,369
17,176
14,507
6,944
16,024
2,149
56,800
19,354
15,038
6,955
16,041
2,038
59,426
21,876
15,568
6,860
16,866
1,977
63,147
23,864
15,901
6,920
17,014
1,890
65,589
26,291
17,064
7,099
18,398
1,868
70,720
T o t a l lia b ilitie s a n d ca p ita l a c c o u n t s ........................
44,147
569
6,211
50,927
46,649
644
6,299
53,592
49,283
599
6,329
56,211
47,830
679
6,396
54,905
47,224
584
6,404
54,212
47,461
516
6,392
54,369
49,779
586
6,435
56,800
52,327
584
6,515
59,426
56,076
546
6,525
63,147
58,425
557
6,607
65,589
63,470
577
6,673
70,720
Number of banks in c lu d e d ........................................
Number of banks not included2..........................
Total operating b an k s..............................................
14,123
3
14,126
14,059
6
14,065
13,970
3
13,973
13,885
2
13,887
13,795
2
13,797
13,723
4
13,727
13,659
2
13,661
13,569
2
13,571
13,535
3
13,538
13,480
3
13,483
13,438
4
13,442
469
551
274
445
120
1,859
477
574
302
440
109
1,902
524
541
330
450
115
1,960
451
626
300
445
134
1,956
424
550
255
440
116
1,785
444
572
252
423
96
1,787
500
610
285
416
111
1,922
488
704
290
401
102
1,985
633
775
243
397
81
2,129
754
707
259
413
74
2,207
863
730
274
432
77
2,376
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s ........................
1,485
67
307
1,859
1,535
61
306
1,902
1,582
71
307
1,960
1,593
72
291
1,956
1,432
65
288
1,785
1,447
56
284
1,787
1,576
62
284
1,922
1,658
44
283
1,985
1,811
42
276
2,129
1,900
38
269
2,207
2,062
42
272
2,376
Number of banks included................................. ..
Num ber of banks not included2................................
Total operating ban ks..............................................
1,189
59
1,248
1,152
56
1,208
1,122
56
1,178
1,078
57
1,135
1,041
44
1,085
1,008
46
1,054
990
52
1,042
975
39
1,014
954
42
996
939
34
973
928
29
957
IN SU R E D C O M M E R C IA L B A N K S
ASSETS
LIABILITIES AND CAPITAL
N O N IN SU R E D C O M M E R C IA L B A N K S
ASSETS
p or,i, o-nri ommints flue from other b a n k s .. ........................
United States Governm ent obligations1................................
Loans discounts £ind ovord rsfts...........................................
LIABILITIES AND CAPITAL
CORPORATION
June 30
INSURANCE
D ec. 31
DEPOSIT
June 30
FEDERAL
D ec. 31
IN SU R E D M U T U A L S A Y IN G S B A N K S
ASSETS
72
250
246
472
101
1,141
87
254
230
466
100
1,137
71
280
232
461
93
1,137
95
377
244
576
101
1,393
133
421
303
605
104
1,566
167
421
299
598
100
1,585
202
548
470
637
127
1,984
978
4
126 >
1,108
988
4
130
1,122
998
3
131
1,132
1,002
4
133
1,139
1,004
3
^ 134
1,141
1,008
4
125
1,137
1,012
3
122
1,137
1,246
3
144
1,393
1,409
4
153
1,566
1,428
6
151
1,585
1,818
5
161
1,984
56
56
56
56
56
56
48
49
51
51
53
484
1,505
2,636
4,638
787
10,050
474
1,774
2,524
4,554
842
10,168
495
1,951
2,468
4,504
848
10,266
460
2,090
2,499
4,502
837
10,388
475
2,214
2,431
4,457
821
10,398
490
2,436
2,261
4,438
800
10,425
515
2,609
2,148
4,414
791
10,477
607
2,681
2,033
4,291
764
10,376
682
2,698
1,877
4,262
761
10,280
812
2,724
1,848
4,285
691
10,360
766
2,690
1,595
4,275
638
9,964
T otal deposits ...........................................................................
Miscellaneous liabilities............................................................
Total capital accounts
.........................................................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s .......................
8,902
17
1,131
10,050
8,987
19
1,162
10,168
9,063
16
1,187
10,266
9,161
20
1,207
10,388
9,169
19
1,210
10,398
9,204
18
1,203
10,425
9,271
17
1,189
10,477
9,185
20
1,171
10,376
9,117
17
1,146
10,280
9,206
23
1,131
10,360
8,842
20
1,102
9,964
Number of banks...........................................................
510
509
507
506
506
506
506
503
500
500
498
Loans, discounts, and overdrafts........................................
L IABILITIES AND CAPITAL
Number of banks...........................................................
N O N IN SU R E D M U T U A L S A V IN G S B AN K S
ASSETS
Cash and amounts due from other b an k s...........................
United States Governm ent obligations1...............................
Other securities ........................................................................
Loans discounts, and overdrafts..........................................
Miscellaneous assets..................................................................
T o t a l a s s e t s ...........................................................................
LIA BILITIE S AND CAPITAL
143
BANKS
1 Includes both direct and fully guaranteed obligations.
2 Banks for which statements of assets and liabilities are not available, and, among insured banks, trust companies not members of the Federal Reserve System which are
not engaged in deposit banking.
OF OPERATING
69
252
247
470
101
1,139
LIABILITIES
70
237
262
469
94
1,132
AND
70
210
271
476
95
1,122
ASSETS
68
179
284
489
88
1,108
Table 119.
A ssets AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES 1934-1940
(Amounts in thousands of dollars)
Num ber of banks1...............................................
1934
1935
1936
1937
1938
June 30
June 29
June 30
June 30
June 30
1939
June 30
1940
D ec. 30
June 29
D ec. 31
13,896
14,175
14,059
13,885
13,723
13,569
13,535
13,480
13,438
622,749
3,819,410
705,488
4,933,277
915,988
5,607,119
844,197
6,896,663
909,727
8,004,090
917,759
10,010,744
1,067,155
11,603,504
983,888
13,750,656
1,235,272
13,991,733
1,302,378
2,232,294
126,325
145,652
1,093,987
1,612,871
2,759,445
150,266
76,225
1,219,335
1,869,377
3,201,486
195,625
55,409
2,194,114
1,456,015
2,884,490
155,296
54,754
2,248,736
1,971,524
3,266,066 }
154,856
118,931
1,945,536
5,964,135
178,301
44,344
2,239,001
7,138,913
180,150
24,810
1,861,058
7,387,759
152,328
16,204
1,573,048
8,058,760
145,641
11,750
2,847,322
9,342,795
11,456,907
14,039,118
14,540,151
16,370,730
19,354,284
21,875,590
23,863,883
26,290,478
1,450,838
3,046,894
5,210,244
1,104,669
4,476,099
4,889,004
1,270,127
5,428,167
5,816,750
826,756
4,637,033
6,386,378
318,767
3,925,676
6,915,305
446,009
2,925,415
8,576,596
570,783
2,388,084
9,194,340
805,453
2,698,508
9,026,826
662,274
2,755,793
9,926,374
9,707,976
10,469,772
12,515,044
11,850,167
11,159,748
11,948,020
12,153,207
12,530,787
13,344,441
235,942
2295,997
61,585
246,715
21,198,549
447,451
238,076
1,444,000
575,357
221,111
1,409,116
484,318
262,725
1,440,444
493,955
168,322
658,870
1,616,440
550,646
264,239
863,705
1,655,205
500,651
394,712
870,416
1,589,066
498,353
412,263
863,465
1,609,547
514,791
731,662
593,524
1,892,715
2,257,433
2,114,545
2,365,446
3,090,195
3,414,273
3,370,098
3,719,465
205,925
134,422
258,191
139,687
199,937
131,772
113,964
156,702
137,062
122,726
162,749
162,300
147,565
165,452
215,457
2,558,536
2,758,456
2,662,173
3,285,180
3,482,795
3,608,290
21,507
19,521
22,057
117,293
158,164
142,030
162,856
154,146
(3)
2,660,288 1
| 3,141,394
19,408
1,025,574
975,497
1,173,943
1,176,996
1,203,111
1,137,234
808,747
945,644
295,610
297,859
ASSETS
Digitized
/
\
959,041
/
887,791 \
942,958
886,300
696,824
134,666
910,914
760,282
644,330
126,276
862,089
646,991
599,356
185,359
850,361
624,688
637,280
176,736
273,068
207,938 \
I
216,903
2,599
216,453
2,168
202,461
1,871
192,930
1,872
1,056,801
982,014
CORPORATION
O th e r s e cu ritie s :
Obligations of Government corporations and
agencies, not guaranteed by U . S. G ovt:
Federal Land ban ks................................................
273,466
Federal Intermediate Credit b an ks.................... }
Other Government corporations and agencies
2,256,316
Obligations of States and political subdivisions. .
Obligations of territorial and insular possessions
23,256
of the United States...........................................
Obligations of other domestic corporations:
915,267
Railroads....................................................................
902,784
Public utilities..........................................................
Industrials.................................................................
J
810,139
All other4....................................................................
Foreign bonds, notes, and debentures— public
|
334,236
and private............................................................
for Stocks
FRASER
of foreign corporations..................................
INSURANCE
O b lig a tio n s gu a ra n te e d b y th e U. S. G o v t:
Reconstruction Finance C orporation.....................
H ome Owners’ Loan Corporation...........................
Federal Farm Mortgage C orporation.....................
Other Government corporations and agencies. . .
T o t a l o b lig a tio n s 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 .....................
DEPOSIT
D ire ct o b lig a tio n s o f t h e U. S. G o v e r n m e n t :
Treasury bills................................................................
Treasury n otes..............................................................
B on d s..........................
....
...................
T o t a l d ir e c t o b lig a tio n s o f t h e U n ited
S ta tes G o v e r n m e n t .....................................
FEDERAL
C ash, b a la n c e s w ith o th e r b a n k s, a n d ca sh
ite m s in p ro ce ss o f c o lle c t io n :
Currency and coin . ...................................................
Reserve with Federal Reserve banks.....................
Demand balances with banks in the United
States (except private banks and American
branches of foreign banks):
In New York C ity ...................................................
Elsewhere...................................................................
Other balances with banks in the United S ta tes..
Balances with banks in foreign countries.............
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 an 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
Corporate stocks of:
138,539
107,840
31,983
200,429
7,099,422
20,278,565
21,992,909
22,427,839
22,821,289
24,163,328
440,745
340,085
283,630
330,571
355,782
372,212
15,533
131,645
115,626
13,640
75,673
113,460
8,605
66,911
101,511
9,248
63,467
93,397
5,319
46,550
91,012
4,351
56,002
74,994
1,097,524
273,513
1,300,825
265,611
540,968
184,586
755,382
817,026
463,625
663,171
497,475
489,244
504,217
512,872
2,906,282
165,095
2,832,874
127,807
1
1
\ 69 ,504,20 5
2,876,819
86,865
661,606
3,080,036
118,973
726,400
3,208,792
124,084
925,708
530,740
/ 2,468,203
\
991,408
60,216
1,193,478
j 5,227,799
534,273
2,596,999
1,006,178
57,307
1,094,399
5,834,709
543,575
2,719,934
1,019,742
43,025
1,182,728
6,004,170
543,553
2,882,841
1,043,802
43,948
1,281,362
6,671,348
69 ,216,329
132,238
133,510
510,502
493,220
484,601
6,674,000
7,411,609
7,213,851
16,498,085
19,036,487
22,184,086
21,178,563
213,727
284,725
318,879
20,559
265,222
216,690
17,751
201,164
138,969
17,979
144,298
118,780
1,116,165
213,261
993,856
197,497
555,885
T otal securities5...............................................
Loans, discounts, and overdrafts (including
rediscounts):
Commercial paper bought in open m arket...........
N otes, bills, acceptances, etc., payable in foreign
countries................................................................
Acceptances of other banks, payable in U . S . . . .
Reporting banks’ own acceptances.........................
Loans to brokers and dealers in securities:
In New York C ity ...................................................
}
^
T otal loans and securities5 6.......................
Miscellaneous assets:
Customers’ liability to reporting banks on
acceptances outstanding....................................
Redemption fund and due from U . S. Treasurer.
Incom e accrued but not collected...........................
Prepaid expenses.......................................................... |
Other assets6..................................................................
Total miscellaneous assets6............................
Total assets6............................................................
69,677,036
6,966
14,515,413
| 89,037,835
.J
7,393
15,130,735
610,334,310
7,680
15,189,771
9,996
17,043,917
8,676
15,725,580
I
828,220
1 3,509,824
14,446
16,040,373
793,616
3,622,365
12,466
16,866,021
741,741
3,787,966
9,203
17,014,372
727,229
4,024,069
8,893
18,397,775
31,687,856
33,551,900
37,314,821
38,222,480
36,004,145
38,033,282
39,293,860
39,835,661
42,561,103
1,212,843
1,209,938
1,194,621
74,186
1,172,617
63,052
1,153,259
53,096
499,838
474,378
456,164
1,005,581
101,248
46,568
/
198,830
\
206,352
993,696
97,418
42,045
182,692
197,445
985,404
95,678
38,353
155,260
176,420
979,937
91,483
33,376
139,318
166,873
104,186
93,884
92,374
85,103
54,453
49,519
44,539
38,065
1,717,218
1,656,699
1,588,028
1,534,155
103,674
109,891
81,104
83,640
107,291
11,620
91,575
320,377
109,398
11,289
99,817
301,608
111,579
11,021
128,049
334,289
63,146,526
65,589,180
70,720,025
426,996
(5)
507,573|
}
I
(5)
(5)
(5)
/
[
(B)
1,639,839
1,717,511
1,768,645
1,710,047
1,662,519
254,360
36,249
158,934
11,842
159,267
190,745
111,499
473,411
368,289
309,751
241,135
764,020
539,065
469,018
431,880
331,868
110,572
10,973
95,856
321,075
43,434,510
47,265,383
53,591,602
54,904,558
54,369,262
59,425,859
220,369
f
\
BANKS
Bank premises, furniture and fixtures, and
other real estate:
Bank prem ises..............................................................
Furniture and fixtures................................................ }
Farm land (including im provem ents)....................
Residential properties................................................. [
Other real properties...................................................
Investments indirectly representing bank prem
ises or other real estate......................................
Other assets indirectly representing bank prem
ises or other real estate.....................................
Total bank premises, furniture and
fixtures, and other real estate...............
}
OF OPERATING
Real estate loans:
On farm la n d ............................................................
On residential properties.......................................
On other properties.................................................
Loans to ban ks............................................................
Agricultural loans (excluding loans on farm land)
Commercial and industrial loa n s............................
Other loans for the purpose of purchasing or
carrying securities...............................................
All other loa n s.............................................................
Overdrafts......................................................................
Total loans, discounts, and overdrafts5 6. .
f
<
1
LIABILITIES
136,861
108,557
32,964
213,325
6,920,404
130,810
AND
135,546
107,655
34,616
229,211
6,860,359
146,382
501,800
ASSETS
6,753,371
134,942
112,046
36,633
235,960
6,954,694
145,990
535,131
Other domestic banks............................................ |
Other domestic corporations................................
6,196,585
Total other securities5........... ...........................
Table 119.
A
ssets
AND LIA B IL IT IE S OF OPERATING INSURED COMMERCIAL B A N K S , C A L L D A T E S
(Amounts in thousands of dollars)
1934-1940— Continued
146
1939
1940
1934
1935
1936
1937
1938
June 30
June 29
June 30
June 30
June 30
June 30
D ec. 30
June 29
D ec. 31
14,881,070
1,708,141
2,023,548
18,029,625
804,567
2,586,882
21,463,913
1,105,886
2,885,335
22,624,279
651,489
3,164,685
21,986,370
560,370
2,870,496
24,772,378
738,520
3,122,328
27,196,842
790,162
2,885,787
28,899,054
755,795
3,099,291
32,400,651
666,357
3,298,173
400,287
19,013,046
445,727
21,866,801
832,437
26,287,571
802,196
27,242,649
703,876
26,121,112
837,899
29,471,125
612,776
31,485,567
521,339
33,275,479
971,452
37,336,633
deposits
(exclusive
of
interbank
d e p o s it s ) :
Individuals, partnerships, and corporations:
Savings deposits.......................................................
Certificates of deposit.............................................
Christmas savings and similar a ccou nts...........
Open accounts6.........................................................
Postal savings7..............................................................
States and political subdivisions..............................
T otal tim e deposits6...........................................
9,163,890
1,459,611
79,656
636,555
661,327
384,032
12,385,071
10,236,013
1,355,785
85,102
597,319
372,479
325,624
12,972,322
10,933,195
1,335,166
100,291
660,595
195,840
428,928
13,654,015
11,814,508
1,243,390
120,922
784,037
131,602
346,429
14,440,888
12,054,836
1,210,896
123,046
640,024
110,192
550,004
14,688,998
12,355,298
1,167,503
129,517
645,897
79,527
535,311
14,913,053
12,622,325
1,129,346
31,684
687,701
69,240
527,373
15,067,669
12,754,750
1,128,291
147,664
748,863
73,811
501,802
15,355,181
13,062,315
1,103,788
36,113
800,046
69,110
522,502
15,593,874
Interbank deposits:
Banks in the United States.......................................
Banks in foreign countries.........................................
T otal interbank deposits..................................
4,270,506
164,485
4,434,991
5,201,586
279,638
5,481,224
6,232,648
475,065
6,707,713
5,514,043
632,375
6,146,418
6,318,202
332,429
6,650,631
7,333,723
608,853
7,942,576
8,760,606
762,507
9,523,113
9,087,992
706,739
9,794,731
9,830,103
708,993
10,539,096
T otal deposits6...................................................
Demand..............................................................
Time6..................................................................
35,833,108
23, SIS, 80S
12,519,805
40,320,347
27,198,282
13,122,065
46.649,299
S2,825,7US
IS,823,556
47,829,955
3S,2U0,U1
U ,5 8 9 ,5 U
47,460,741
32,613,351
1U,81*7,390
52,326,754
37,21+2,573
15,08k,181
56,076,349
UO,839,329
15,237,020
58.425,391
1+2,910,829
15,51k,562
63.469,603
k7,716,08k
15,753,519
694,790
222,045
LIABILITIES
T im e
Total
liabilities
(excluding
capital
accounts)*...................................................
78,850
46,299
38,558
35,425
26,929
15,550
13,609
13,844
11,481
279,212
175,659
180,299
215,267
122,601
122,169
126,107
96,114
98,056
61,387
35,304
37,897
27,578
45,682
21,823
46,599
15,520
44,640
(8)
242,836
214,630
351,598
359,431
306,338
662,285
509,789
643,715
678,545
516,028
6,613
37,451
64,479
86,786
251,017
584,065
4,906
40,731
69,859
76,562
214,033
545,807
3,600
38,019
76,194
91,075
238,444
557,290
2,602
41,863
84,133
86,863
251,971
576,969
37,190,183
41,052,181
47,293,014
48,508,500
47,976,769
52,910,819
56,622,156
58,982,681
64,046,572
f
1
CORPORATION
.
M isce lla n e o u s lia b ilitie s:
Bills payable, rediscounts, and other liabilities
for borrowed m on ey...........................................
Acceptances executed by or for account of re
porting banks and outstanding.......................
Mortgage bonds and participation certificates
outstanding...........................................................
Dividends declared but not yet payable8..............
Incom e collected but not earned............................. 1
Expenses accrued and unpaid.................................. \
Other liabilities6...........................................................
Total miscellaneous liabilities6.....................
INSURANCE
Circulating notes outstanding . .
DEPOSIT
Certified and officers’ checks, cash letters of
credit and travelers' checks outstanding, and
amounts due to Federal Reserve banks........
Total demand deposits......................................
FEDERAL
Demand deposits (exclusive of interbank
deposits):
Individuals, partnerships, and corporations.........
United States G overnm ent.......................................
CAPITAL ACCOUNTS
3,053,970
2,225,180
701,477
382,287
33,144
6,396,058
3,018,570
2,292,137
723,885
317,722
40,179
6,392,493
2,954,886
2,381,233
799,018
322,503
57,400
6,515,040
2,914,004
2,442,853
789,340
318,432
59,741
6,524,370
2,892,233
2,483,865
836,841
332,995
60,565
6,606,499
2,872,070
2,563,293
838,132
336,776
63,182
6,673,453
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s 6. . . .
43,434,510
47,265,383
53,591,602
54,904,558
54,369,262
59,425,859
63,146,526
65,589,180
70,720,025
3,922,453
1,880,591
3,101,588
1,342,620
3,438,857
1,043,355
3,114,308
979,258
2,922,595
939,260
3,130,765
936,661
3,240,894
964,648
3,347,795
953,648
3,395,536
1,030,520
192,303
35,742
4,295,471
185,225
€8,984
4,459,751
186,072
47,362
4,534,877
181,315
45,757
4,653,128
3,380,256
3,452,532
3,591,185
3,725,790
796,510
28,760
18,593
4,224,119
886,246
974,707
19
i q ns /i
21/716 j
5*121
4,373,167
4,584,097
1,081,111
10,495
2,477
4,819,373
MEMORANDA
P le d g e d assets a n d s e cu ritie s lo a n e d :
United States Governm ent obligations, direct
and guaranteed, pledged to secure liabilities.
Other assets pledged to secure liabilities...............
Assets pledged to qualify for exercise of fiduciary
or corporate powers, and for purposes other
than to secure liabilities9...................................
Securities loaned9..........................................
T o ta l p led ged assets a n d secu rities loa n ed
S ecu red a n d p referred lia b ilitie s:
Deposits secured by pledged assets pursuant to
requirements of la w ............................................
Deposits preferred under the provisions of law
but not secured by pledge of assets9..............
Borrowings secured by pledged assets9..................
Other liabilities secured by pledged assets9..........
T o t a l secu red a n d p referred lia b ilitie s
4,202,769
3,445,769
1
3,838,827
3,368,921
3,122,346
i
Back figures— For December 31, see the Annual Report for 1938, p. 164.
BANKS
!
1ftn 1 Excludes trust companies not engaged in deposit banking which submit reports to the FD IC (1 on June 30, 1934, and June 29, 1935; 2 on June 30, 1936, and June 30,
1937; 3 on June o0, L>38; 2 on June 60, 1939; 3 on December 30, 1939, and June 29, 1940; and 4 on December 31, 1940); and banks for which statements are not available (42 on
June 30, 1934; 3 on June 29, 1935; 4 on June 30, 1936; and 1 on June 30, 1938).
2 Includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.
3 Federal Home Loan Bank debentures held on June 30, 1938, are included with “ Obligations of other domestic corporations” .
4 Includes “ Obligations of real estate corporations” for which separate figures for call dates prior to June 30, 1938, are given on page 109 of the Annual Report for 1937.
6 Amounts of loans and securities for call dates prior to December 31, 1938, are not entirely comparable with amounts reported for subsequent call dates because “ Investments
and other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.
6 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 164-67.
7 Includes for call dates beginning December 31, 1938, “ United States Treasurer’s time deposits, open accounts” .
8 N ot reported separately.
9 Amounts not reported for call dates prior to December 31, 1938.
OF OPERATING
3,212,615
2,042,072
626,823
399,333
17,745
6,298,588
LIABILITIES
3,365,309
1,892,655
529,230
418,597
7,411
6,213,202
AND
3,319,216
1,962,163
469,837
491,126
1,985
6,244,327
ASSETS
C a p ita l a c c o u n t s :
Capital stock, notes, and debentures.....................
Surplus............................................................
Undivided profits6.........................................
Reserve for contingencies..........................................
All other capital accounts6........................................
T o t a l ca p ita l a c c o u n t s ......................................
148
Table 120.
CLASSES OF SECU RITIES H E LD BY OPERATING INSURED COMMERCIAL B A N K S , C A L L D A T E S
1936
1937
1938
June 30
June 29
June 30
June 30
June 30
13,896
21,178,563
16,980,651
13,964,712
331,709
2,684,230
June 29
D ec. 31
13,535
13,480
13,438
20,278,565
21,992,909
22,427,839
22,821,289
24,163,328
16,525,910
13,525,194
321,020
2,679,696
18,593,078
15,038,215
413,469
3,141,394
19,260,388
15,567,480
407,728
3,285,180
19,831,455
15,900,885
447,775
3,482,795
21,200,670
17,063,906
528,474
3,608,290
(In thousands of dollars)
T o t a l s e c u r it ie s ....................................................................
16,498,085
12,854,538
10,301,500
273,466
2,279,572
15,282,877
12,362,487
340,347
2,580,043
D o m e s tic co r p o r a t e b o n d s — t o t a l ............................
R ailroads..........................................................................
Public utilities................................................................
O ther.................................................................................
2,628,190
915,267
902,784
810,139
2,809,818
1,025,574
975,497
808,747
3,296,583
1,173,943
1,176,996
945,644
3,299,386
1,203,111
1,137,234
959,041
2,926,606
1,056,801
982,014
887,791
2,660,748
942,958
886,300
831,490
2,441,802
910,914
760,282
770,606
2,293,795
862,089
646,991
784,715
2,289,065
850,361
624,688
814,016
M isce lla n e o u s se cu ritie s— t o t a l ................................
Foreign securities— public and private....................
Stocks of Federal Reserve ban ks...............................
Stocks of other domestic corporations.....................
1,015,357
334,236
145,990
535,131
943,792
295,610
146,382
501,800
939,171
297,859
130,810
510,502
898,526
273,068
132,238
493,220
826,049
207,938
133,510
484,601
739,083
219,502
134,942
384,639
725,649
218,621
135,546
371,482
696,039
204,332
136,861
354,846
673,593
194,802
138,539
340,252
38.0
40.3
41.4
(As percentage of total assets)
T o t a l s e c u r it ie s ............................................................
38.6
37.3
37.0
35.5
34.8
34.2
30.2
24.2
.7
5.3
30.0
24.1
.8
5.1
G o v e rn m e n ta l o b lig a tio n s — t o t a l ...................
U . S. Governm ent, direct and guaranteed. ..
U . S. Government agencies, not guaranteed.
States and political subdivisions.......................
29.6
23.7
.6
5.3
32.3
26.2
.7
5.4
33.5
27.6
.7
5.2
30.9
25.4
.6
4.9
30.4
24.9
.6
4.9
31.3
25.3
.7
5.3
30.5
24.7
.6
5.2
D o m e s tic c o r p o r a te b o n d s — t o t a l ...................
R ailroads.................................................................
Public utilities........................................................
O ther.........................................................................
6.1
6.0
2.2
2.1
1.7
6.2
2.2
2.2
1.8
6.0
2.2
2.1
1.7
5.4
2.0
1.8
1.6
4.5
1.6
1.5
1.4
3.9
1.5
1.2
1.2
3.5
1.3
1.0
1.2
3.2
2.1
2.1
2.0
.6
.3
1.1
1.7
.6
.2
.9
1.7
.5
.3
.9
1.5
.4
.2
.9
1.2
.4
.2
.6
1.1
.3
.2
.6
1.1
.3
.2
.6
1.0
M isce lla n e o u s se cu ritie s— t o t a l .......................
Foreign securities— public and p riva te............
Stocks of Federal Reserve ban ks......................
Stocks of other domestic corporations.............
1.9
2.3
.8
.3
1.2
1.2
.9
1.1
.3
.2
.5
CORPORATION
G o v e rn m e n ta l o b lig a tio n s — t o t a l ............................
U . S. Government, direct and guaranteed.............
U. S. Government agencies, not guaranteed.........
States and political subdivisions................................
17,948,332
14,772,477
397,878
2,777,977
INSURANCE
19,036,487
22,184,086
D ec. 30
13,569
DEPOSIT
14,175
June 30
13,723
FEDERAL
1935
13,885
1940
1939
1934
14,059
1934-1940
(As percentage of total loans and securities)
52.1
56.7
59.5
55.4
56.3
57.8
57.1
57.3
56.8
G o v e r n m e n ta l o b lig a tio n s — t o t a l .................
U. S. Government, direct and guaranteed. .
U. S. Government agencies, not guaranteed
States and political subdivisions.....................
40.6
45.5
48.1
44.4
45.9
48.9
49.0
49.8
49.8
3 2 .5
.9
3 6 .8
3 9 .6
1 .1
3 6 .5
.9
3 7 .6
.9
3 9 .5
3 9 .6
1 .0
3 9 .9
1 .1
4 0 .1
7 .4
7 .0
7 .4
8.3
8.4
8.9
8.6
2 .9
3 .1
2 .9
3 .1
3 .0
2 .4
3 .2
3 .2
2 .5
2 .8
2 .6
1 .1
8 .3
8 .4
1 .2
8 .5
8.1
7.0
6.2
5.8
5.4
2 .9
2 .3
1 .9
2 .0
2 .0
2 .5
2 .5
2 .3
2 .2
2 .2
2 .7
2 .5
1 .6
2 .0
1 .5
1 .9
2.3
2.5
2.4
1.9
1.9
1.7
1.6
.9
.8
.7
.6
.6
.6
.4
1 .5
.3
.4
1 .3
.4
.3
1 .3
1 .0
.3
1 .0
.5
.3
.9
.5
.3
.8
T o t a l s e c u r itie s .........................................................
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
G o v e r n m e n ta l o b lig a tio n s — t o t a l .................
U. S. Governm ent, direct and guaranteed. .
TJ. S. Government agencies, not guaranteed
States and political subdivisions.....................
77.9
80.3
80.9
80.2
81.5
84.5
85.9
86.9
87.7
6 2 .4
1 .7
6 4 .9
6 6 .6
1 .8
1 2 .5
6 5 .9
1 .6
6 6 .7
1 .6
1 2 .7
1 3 .2
6 8 .4
1 .9
1 4 .2
6 9 .4
1 .8
1 3 .8
1 .8
1 3 .6
1 4 .7
6 9 .7
2 .0
1 5 .2
7 0 .6
2 .2
1 4 .9
D o m e s tic c o r p o r a te b o n d s — t o t a l .................
Railroads...............................................................
Public utilities......................................................
Other.......................................................................
15.9
1 4 .8
14.9
15.6
14.4
12.1
10.9
10.0
9.5
5 .5
5 .5
4 .9
4 .3
5 .3
5 .3
4 .3
5 .7
5 .4
4 .5
5 .2
4 .8
4 .4
4 .3
4 .0
3 .8
4 .1
3 .4
3 .4
3 .8
2 .8
3 .4
3 .5
2 .6
3 .4
M is c e lla n e o u s se cu ritie s— t o t a l .....................
Foreign securities— public and private.........
Stocks of Federal Reserve ban ks....................
Stocks of other domestic corporations...........
6.2
4.9
4.2
4.2
4.1
3.4
3.2
3.1
2.8
2 .0
.9
1 .5
.8
2 .6
1 .3
.6
1 .3
.6
1 .0
.7
1 .0
.6
2 .3
2 .3
2 .4
1 .8
1 .0
.6
1 .6
.9
.6
1 .6
1 .4
146.5
1 .4
(As percentage of total securities)
5 .4
5 .1
3 .3
.8
.6
(As percentage of amount held on June 30, 1934)
T o ta l s e c u r itie s .........................................................
115.4
134.5
128.4
122.9
133.3
135.9
138.3
100.0
118.9
139.6
132.1
128.6
144.6
149.8
154.3
164.9
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 2 0 .0
1 2 4 .5
1 1 3 .2
1 4 3 .4
1 4 5 .5
1 2 1 .9
1 3 5 .6
1 3 1 .3
1 4 6 .0
1 2 1 .3
1 1 7 .8
1 1 7 .4
1 1 7 .6
1 5 1 .2
1 3 7 .8
1 5 1 .1
1 4 9 .1
1 5 4 .4
1 6 3 .7
1 6 5 .6
1 9 3 .3
1 4 4 .1
1 5 2 .8
1 5 8 .3
D o m e s tic c o r p o r a te b o n d s — t o t a l .................
Railroads................................................................
Public utilities......................................................
Other.......................................................................
100.0
106.9
125.4
125.5
111.4
101.2
92.9
87.3
87.1
1 0 0 .0
1 0 0 .0
1 1 2 .1
1 0 8 .1
1 3 1 .4
1 2 6 .0
1 1 5 .5
1 0 8 .8
1 0 3 .0
9 9 .5
8 4 .2
9 4 .2
7 1 .7
9 2 .9
6 9 .2
1 0 0 .0
9 9 .8
1 2 8 .3
1 3 0 .4
1 1 6 .7
1 1 8 .4
1 0 9 .6
9 5 .1
9 6 .9
1 0 0 .5
M is ce lla n e o u s se cu ritie s— t o t a l .....................
Foreign securities— public and p rivate.........
Stocks of Federal Reserve ban ks....................
Stocks of other dom estic corporations...........
100.0
93.0
92.5
88.5
81.4
72.8
71.5
68.6
66.3
1 0 0 .0
1 0 0 .0
1 0 0 .0
8 8 .4
1 0 0 .3
9 3 .8
8 9 .1
8 9 .6
8 1 .7
9 0 .6
6 1 .1
9 2 .2
6 5 .7
9 2 .4
7 1 .9
6 5 .4
9 2 .8
9 5 .4
6 2 .2
9 1 .5
9 0 .6
6 9 .4
6 6 .3
5 8 .3
9 4 .9
6 3 .6
G o v e r n m e n ta l o b lig a tio n s — t o t a l .................
U . S. Government, direct and guaranteed. .
U. S. Government agencies, not guaranteed
States and political subdivisions.....................
N o te :
See footnotes
1
to
5,
Back figures-— For December
Table
31,
119.
see the Annual Report for
1938,
p.
168.
9 8 .2
1 0 2 .6
9 3 .7
BANKS
100.0
OF OPERATING
2.8
1 .0
.5
1 .7
LIABILITIES
3.2
AND
M isce lla n e o u s se cu ritie s— t o t a l .....................
Foreign securities— public and p rivate.........
Stocks of Federal Reserve ban ks....................
Stocks of other domestic corporations...........
ASSETS
D o m e s tic c o r p o r a te b o n d s — t o t a l .................
R ailroads...............................................................
Public utilities......................................................
Other.......................................................................
1 .0
7 .7
7 .2
0°
00
T o t a l s e c u r it ie s ..........................................................
CO
T a b l e 12 1.
A SSETS AND L IA B IL IT IE S OF OPERATIN G INSURED COMMERCIAL B A N K S N O T M E M B E R S OF THE FE D E RA L R E S E R V E SYSTEM,
C all D
ates
1934-1940
(Amounts in thousands of dollars)
1934
1935
June 30
June 29
D ec. 30
June 29
Dec. 31
7,528
7,385
7,239
7,173
7,082
6,952
150,106
168,478
202,567
214,892
197,697
205,627
225,940
195,197
244,126
185,723
682,672
32,316
4,972
37,208
233,015
853,898
39,566
4,981
35,962
261,386
1,016,739
44,851
3,711
46,621
254,501
985,833
48,493
2,777
47,907
290,877
973,918
43,980
2,695
46,165
} 1,421,894
46,289
1,457
55,929
1,768,656
44,038
1,014
53,688
1,743,497
45,230
585
49,978
1,974,336
44,760
439
63,362
1,092,997
1,335,900
1,575,875
1,554,403
1,555,332
1,731,196
2,093,336
2,034,487
2,327,023
23,495
175,996
371,801
5,414
162,194
431,038
4,186
267,482
521,901
6,141
276,416
697,206
2,614
272,371
669,756
4,862
205,848
791,068
8,046
164,807
796,159
8,472
155,842
766,296
10,288
161,524
835,221.
571,292
598,646
793,569
979,763
944,741
1,001,778
969,012
930,610
1,007,033
922
263,498
20,461
2,991
2209,7 50
114,204
1,994
188,016
116,966
1,509
196,413
98,093
1,904
149,170
73,790
12,618
16,836
158,296
63,636
20,608
30,015
154,692
56,202
29,404
31,326
132,157
53,336
31,851
22,890
119,197
51,663
40,077
84,881
326,945
306,976
296,015
237,482
259,376
270,313
248,670
233,827
43,456
1,055
49,828
2,686
38,099
4,236
20,470
1,020
11,780
18,987
2,337
9,707
21,380
2,533
9,711
18,394
1,038
9,687
424,258
457,024
494,189
529,514
28,749
3,830
(3)
531,918
587,181
593,493
594,970
595,597
4,527
4,708
3,911
4,677
4,324
179,659
191,183
200,516
210,820
225,605
250,841
246,170
266,501
224,241
219,223
167,071
168,226
195,999
189,015
196,413
181,678
130,433
39,197
179,765
155,769
116,789
33,261
168,761
133,238
102,774
30,376
148,698
124,768
97,578
28,962
57,369
49,525
47,522
30,246
28,236
623
29,999
453
29,511
351
28,147
378
/
\
44,920
CORPORATION
Digitized
June 30
7,659
INSURANCE
O th e r s e cu ritie s:
Obligations of Government corporations and agencies,
not guaranteed by U. S. G ovt:
Federal Land ban ks........................................................
Federal Intermediate Credit banks............. ..............
Other Government corporations and agencies.........
Obligations of States and political subdivisions..........
Obligations of territorial and insular possessions of the
United States.................................... ...........................
Obligations of other domestic corporations:
Railroads............................................................................
Public utilities..................................................................
Industrials.........................................................................
All other4............................................................................
Foreign bonds, notes, and debentures— public and
private............................................................................
for FRASER
Stocks of foreign corporations..........................................
June 30
Or
O
DEPOSIT
O b lig a tio n s gu a ra n te e d b y th e U. S. G o v t:
Reconstruction Finance C orporation..............................
Home Owners’ Loan C orporation....................................
Federal Farm Mortgage C orporation.............................
Other Government corporations and agencies.............
T o t a l o b lig a tio n s g u a r a n te e d b y t h e U n ited
S tates G o v e r n m e n t .................................................
June 30
1940
1939
FEDERAL
D ire c t o b lig a tio n s o f th e U. S. G o v e r n m e n t:
Treasury bills........................................................................
Treasury notes......................................................................
B o n d s......................................................................................
T o ta l d ir e c t o b lig a tio n s o f th e U n ited States
C o v e r n m e n t ................................................................
1938
7,765
Number of banks1.
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 cess o f c o lle c t io n :
Currency and coin
Demand balances with banks in the United States (except
private banks and American branches of foreign
banks):
In New York C ity ...............................................................
Elsewhere...............................................................................
Other balances with banks in the United States.............
Balances with banks in foreign countries..........................
Cash items in process of collection......................................
T o ta l ca sh , b a la n ces w ith o th e r b a n k s, a n d cash
ite m s in p rocess o f c o l l e c t i o n .................................
June 30
1937
Corporate stocks of:
Affiliates of reporting ban k s...........................................
Other domestic banks.......................................................
Other domestic corporations..........................................
T o t a l o t h e r s e cu ritie s 5.................................................
1
}•
J
T o t a l s e c u ritie s 5..........................................................
1,313,433
2,724,877
2,495,656
2,530,558
2,449,151
2,339,052
2,357,859
37,621
40,932
63,816
46,897
39,007
39,754
47,156
50,739
459
537
3,751
284
231
1,589
385
947
2,379
323
2,275
1,360
41
385
1,165
19
221
1,716
58
144
1,573
60
127
576
19,224
5,688
18,629
7,191
22,585
7,819
17,494
6,616
24,608
26,710
16,722
20,723
238,946
233,088
239,712
240,146
814,066
8,753
792,797
6,173
240,992
229,765
839,170
4,323
266,654
268,971
868,952
3,727
332,867
271,353
246,564
692,603
222,938
1,919
405,027
445,057
245,577
713,446
221,702
364,860
448,936
247,922
741,605
225,159
1,148
448,284
464,173
244.365
764.366
233,458
842
416,271
467,833
2,155
2,587,447
j 6l,015,479
1,740
2,588,890
61,040,801
1,480
2,759,042
6994,457
1,513
2,787,980
92,167
725,369
1,455
2,899,305
93,265
745,737
1,301
2,904,201
74,066
776,122
1,470
3,045,602
75,108
801,419
1,290
3,077,177
T o t a l loa n s a n d s e c u ritie s5 6....................................
4,513,017
4,767,282
5,056,011
5,483,919
5,283,636
5,429,863
5,353,352
5,384,654
5,435,036
215,026
211,293
f
197,372
36,029
190,506
32,949
183,509
27,097
)}
145,735
141,323
141,213
149,853
23,273
23,011
72,569
50,695
144,834
22,007
20,210
66,557
47,706
142,795
21,388
17,905
59,273
46,474
137,319
19,676
14,930
53,090
43,304
15,131
11,180
6,903
140,648
|
M is c e lla n e o u s a ssets:
Customers’ liability to reporting banks on acceptances
outstanding.............................................................
Incom e accrued but not collected.............................
Prepaid expenses............................................................
|
Other assets6....................................................................
T o t a l m is ce lla n e o u s a ssets6...............................
T o t a l a ssets6.........................................................
(5)
355,674
[
n,456,247
168,487
(5)
379,780
394,267
375,958
}
J
1
/
\
/
1
/
j
7,586
14,247
47,433
1,209,826
8,050
13,752
44,365
1,159,772
8,181
13,119
42,452
1,116,999
J
7,498
7,887
7,834
7,272
1
4,231
4,742
4,109
4,750
331,130
313,943
299,778
280,341
2,348
7,132
1,309
14,157
24,946
1,913
6,957
1,909
13,136
23,915
588
6,553
1,439
11,367
19,947
7,785,577
7,742,834
8,062,347
358,722
1,444
1,183
2,313
3,602
2,416
88,487
62,636
39,489
34,375
25,584
89,931
63,819
41,802
37,977
28,000
2,002
7,977
1,915
13,647
25,541
6,051,619
6,546,781
7,067,955
7,452,257
7,225,690
7,517,730
f
(
BANKS
B an k p rem ises, fu r n itu r e a n d fixtures, a n d o th e r
rea l e sta te :
Bank prem ises................................................................
}
Furniture and fixtures..................................................
Farm land (including im provem ents)......................
Residential properties...................................................
[
Other real properties.....................................................
Investments indirectly representing bank premises or
other real estate...............................................................
Other assets indirectly representing bank premises or
other real estate...............................................................
T o t a l b a n k p rem ises, fu r n itu r e a n d fixtures,
a n d o th e r rea l e s ta te ..................................................
81,887
OF OPERATING
1,449,099
2,467,121
92,161
LIABILITIES
1,366,576
2,179,835
95,995
AND
1,254,244
1,846,226
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 redis
co u n ts ):
Commercial paper bought in open m arket.....................
18,723
N otes, bills, acceptances, etc., payable in foreign
countries.................................................................................
357
Acceptances of other banks, payable in the U . S ...........
1,482
Reporting banks' own acceptances......................................
6,532
Loans to brokers and dealers in securities:
In N ew Y ork C it y ...............................................................
34,538
E lsewhere...............................................................................
5,723
Real estate loans:
On farm la n d ........................................................................
267,405
On residential properties....................................................
838,062
On other properties............................................................. }
Loans to banks.........................................................................
12,029
Agricultural loans (excluding loans on farm la n d )..........
Commercial and industrial loans.........................................
Other loans for the purpose of purchasing or carrying |61,479,761
securities............................................................................
All other loans...........................................................................
Overdrafts..................................................................................
2,179
T o ta l lo a n s, d isc o u n ts, a n d o v e r d ra fts5 6...............
2,666,791
f
118,914
ASSETS
1,190,053
8,503
14,464
49,406
1,269,404
131,174
Table 121.
ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM,
C a ll D a te s
1934-1940— Continued
(Amounts in thousands of dollars)
1940
1939
1938
June 30
June 29
June 30
June 30
June 30
June 30
D ec. 30
June 29
D ec. 31
1,532,346
50,348
425,678
1,823,382
25,851
496,274
2,141,915
69,311
564,882
2,351,847
23,364
587,240
2,170,174
17,518
556,823
2,324,209
44,519
590,758
2,592,860
47,596
564,453
2,502,454
44,950
570,498
2,824,587
50,239
574,513
Certified and officers’ checks, cash letters of credit and
travelers’ checks outstanding, and amounts due to
Federal Reserve banks....................................................
Total demand deposits...................................................
28,621
2,036,993
29,116
2,374,623
43,300
2,819,408
50,582
3,013,033
41,633
2,786,148
47,746
3,007,232
49,488
3,254,397
46,298
3,164,200
58,154
3,507,493
T im e deposits (exclusive of interbank deposits):
Individuals, partnerships, and corporations:
Savings deposits............................................................. ..
Certificates of deposit..........................................................
Christmas savings and similar a ccou nts........................
Open accounts8......................................................................
Postal savings............................................................................
States and political subdivisions...........................................
Total tim e deposits6........................................................
1,995,651
514,433
20,207
46,183
76,300
51,358
2,704,132
2,250,367
487,005
20,369
54,712
65,876
40,548
2,918,877
2,367,563
491,911
22,996
47,582
43,606
50,930
3,024,588
2,569,941
485,772
29,329
59,933
31,866
54,149
3,230,990
2,596,793
466,681
29,765
61,580
27,333
96,126
3,278,278
2,693,270
458,269
31,395
52,052
20,392
94,111
3,349,489
2,739,212
452,817
7,250
56,668
17,910
95,200
3,369,057
2,769,427
457,410
34,422
59,328
15,200
91,753
3,427,540
2,796,166
448,847
8,260
62,181
13,123
87,427
3,416,004
Interbank deposits:
Banks in the United States....................................................
Banks in foreign countries.....................................................
Total interbank deposits...............................................
78,109
1,507
79,616
87,410
1,310
88,720
95,514
4,225
99,739
92,812
3,074
95,886
86,667
1,330
87,997
95,161
1,618
96,779
109,024
3,719
112,743
101,190
3,341
104,531
113,678
2,818
116,496
T otal deposits®................................................................
D em and..........................................................................
4,820,741
2,112,589
2,708,152
5,382,220
2,454,499
2,927,721
5,943,735
2,907,052
3,036,683
6,339,909
3,097,513
3,242,396
6,152,423
2,861,090
3,291,333
6,453,500
3,088,634
3,364,866
6,736,197
3,351,514
3,384,683
6,696,271
3,251,431
3,444,840
7,039,993
3,605,672
3,434,321
38,696
30,023
18,706
17,991
15,115
10,888
10,368
10,421
8,199
1,214
1,090
2,078
3,468
2,441
2,005
2,352
1,919
595
12,450
(7)
7,729
1,621
6,801
1,683
4,854
2,500
3,366
1,631
39,115
24,522
31,731
26,272
25,770
2,187
2,763
13,549
7,872
7,678
46,769
1,847
1,741
15,091
8,938
7,859
47,816
1,445
2,910
16,467
8,917
7,884
46,417
6,782,966
6,744,087
7,086,410
LIABILITIES
Demand deposits (exclusive of interbank deposits):
Individuals, partnerships, and corporations.....................
Miscellaneous liabilities:
Bills payable, rediscounts, and other liabilities for
borrowed m on ey...............................................................
Acceptances executed by or for account of reporting
banks and outstanding...................................................
Mortgage bonds and participation certificates out
standing
.....................................................................
Dividends declared but not yet payable............................
Incom e collected but not earned.......................................... )
Expenses accrued and unpaid...............................................
Other liabilities6 .....................................................................
T otal miscellaneous liabilities6...................................
Total liabilities (excluding capital accounts)6. .
91,475
64,985
60,999
55,085
48,323
2,743
1,619
12,599
8,335
7,227
45,416
4,912,216
5,447,205
6,004,734
6,394,994
6,200,746
6,498,916
f
CORPORATION
1937
INSURANCE
1936
DEPOSIT
1935
FEDERAL
1934
609,721
253,716
118,415
62,639
12,772
1,057,263
589,164
257,064
113,420
49,508
15,788
1,024,944
564,863
269,664
120,985
45,816
17,486
1,018,814
550,775
276,461
114,606
41,819
18,950
1,002,611
534,940
276,557
125,556
43,395
18,299
998,747
515,812
283.672
116,688
40,937
18,828
975,937
Total liabilities and capital accounts6...................
6,051,619
6,546,781
7,067,955
7,452,257
7,225,690
7,517,730
7,785,577
7,742,834
8,062,347
182,483
370,742
225,203
256,788
265,258
199,182
255,421
190,697
262,602
202,566
296,603
210,302
277,637
207,586
268,574
206,144
275,018
194,484
37,473
293
502,206
27,862
65
474,045
19,469
269
484,906
21,185
92
528,182
21,657
637
507,517
22,474
4,234
501,426
20,852
431
490,785
406,005
374,035
372,616
420,019
395,945
386,481
387,386
60,505
20,221
16,551
503,282
66,790
16,552
9,710
467,087
75,700
14,226
2,412
464,954
73,258
10,037
3,271
506,585
88,457
9,985
2,019
496,406
78,680
83,344
7,819
750
479,299
MEMORANDA
Pledged assets and securities loaned:
United States Government obligations, direct and
guaranteed, pledged to secure liabilities...................
Other assets pledged to secure liabilities...........................
Assets pledged to qualify for exercise of fiduciary or
corporate powers, and for purposes other than to
secure liabilities8..............................................................
Securities loaned8......................................................................
Total pledged assets and securities loaned..........
Secured and preferred liabilities:
Deposits secured by pledged assets pursuant to re
quirements of la w ............................................................
Deposits preferred under the provisions of law but not
secured by pledge of assets8..........................................
Borrowings secured by pledged assets8..............................
Other liabilities secured by pledged assets8.......................
T otal secured and preferred liabilities...................
378,632
362,174
10,000
1,247
476,408
Back figures— For December 31, see the Annual Report for 1938, p. 170.
BANKS
i n o * Excludes trust companies not engaged in deposit banking which submit reports to the F D IC (l on June 30, 1934, and June 29, 1935; 2 on June 30, 1936, and June 30,
1937, 3 on June 30, 1938; 2 on June 30, 1939; 3 on December 30, 1939, and June 29, 1940; and 4 on December 31, 1940); and banks for which statements are not available (42
on June 30, 1934; 3 on June 29, 1935; 4 on June 30, 1936; and 1 on June 30, 1938).
2 Includes Home Owners' Loan Corporation 4 percent bonds guaranteed as to interest only.
a Federal Home Loan Bank debentures held on June 30, 1938, are included with “ Obligations of other domestic corporations” .
* Includes ‘Obligations of real estate corporations” for which separate figures for call dates prior to June 30, 1938, are given on page 113 of the Annual Report for 1937.
Amounts ol loans and securities for call dates prior to June 30, 1936, are not entirely comparable with amounts reported for subsequent call dates because “ Investments
and other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.
6 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 170-73.
7 N ot reported separately.
8 Amounts not reported for call dates prior to June 30, 1936.
OF OPERATING
645,418
235,556
107,572
68,023
6,652
1,063,221
LIABILITIES
681,990
245,631
93,085
75,069
3,801
1,099,576
AND
667,034
271,603
82,625
116,869
1,272
1,139,403
ASSETS
CAPITAL ACCOUNTS
Capital accounts:
Capital stock, notes, and debentures.................................
Surplus........................................................................................
Undivided profits8....................................................................
Reserve for contingencies.......................................................
All other capital accounts6.....................................................
T otal capital accounts...................................................
or
CO
Table 122.
A SSETS AND L IA B IL IT IE S OF OPERATING INSURED COMMERCIAL B A N K S SUBMITTING R EPO RTS TO THE
Federal
D
e p o s it
I n s u r a n c e C o r p o r a t io n , D
ecem ber
31, 1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
154
Banks with deposits of—
All
banks
Num ber of banks1.........................................
6,942
$100,000
or
less
$100,000
to
$250,000
281
1,672
$250,000
to
$500,000
2,044
1,497
845
445
90
62
6
25,282
237,071
1,803
36,958
319,410
4,393
44,047
356,637
7,756
48,993
369,956
13,355
23,461
188,124
9,088
38,197
318,570
19,252
12,914
113,452
5,461
9,741
110,945
264,156
360,761
408,440
432,304
220,673
376,019
131,827
2,071
34,703
79,406
102,923
120,566
156,072
86,208
240,532
180,763
45,153
26,539
45,282
20,021
100,588
107,661
494,063
52,409
26,746
279,939
389
6,068
18,147
30,033
41,059
20,783
9,768
71,322
59,182
34,324
191,059
97,944
63,298
294,198
105,976
93,747
361,348
107,727
129,080
438,032
1,543
16,822
42,323
72,648
89,578
116,992
48,225
69,195
8,215
67,524
7,407
26,171
16,273
4,101
6,032
1,593
11,697
1,000
70,451
657
126,152
2,349
113,654
5,288
14
11
28
2
3
10
12
28
3
191
49
29
247
24
77
600
1,522
73
27
2,743
17
238
6,758
8,731
26
571
1,959
5,743
9,866
18,683
11,165
21,604
5,365
1,731
776
279
56,548
46,472
11,194
184
83,192
239
370,866
71,196
94,678
21,964
236
125,173
250
511,134
49,226
134,315
34,044
82
146,182
188
539,113
27,151
181,228
47,132
147
153,945
163
589,414
5,656
69,922
22,962
67
50,245
98
221,316
7,132
126,949
47,036
37
172,442
152
464,850
1,939
90,894
44,244
23,495
29
183,912
561,925
805,332
900,461
1,027,446
437,760
958,913
463,851
6,618
21
60
2,753
26
13,778
23,664
13,612
3,775
89
36,016
144
165,865
5,410,760
17,885
237,187
7
CORPORATION
1,312
335
4,107
49,472
54,225
216,444
INSURANCE
416,264
50,724
11,523
98,713
709
DEPOSIT
465,541
1,141
8,529
71
Acceptances of other banks, payable in the
TTmi pH
127
576
Reporting banks’ own acceptances...................
20,681
Loans to brokers and dealers in securities. . . .
Other loans for the purpose of purchasing or
74,982
carrying securities.........................................
Real estate loans:
244,243
On farm la n d ......................................................
758,846
On residential properties.................................
232,630
On other properties..........................................
842
Loans to ban ks......................................................
793,443
All other loans........................................................
1,289
Overdrafts...............................................................
T o ta l lo a n s, d isc o u n ts, a n d overd ra fts 3,060,248
$2,000,000
to
$5,000,000
FEDERAL
S e c u r itie s :
Direct obligations of the U. S. G overnm ent.. 1,003,244
Obligations guaranteed by the U . S. Govern
232,691
ment .................................................................
Obligations of States and political sub
595,393
divisions ..........................................................
519,184
Other securities......................................................
T o t a l s e c u r itie s ............................................... 2,350,512
T o ta l lo a n s a n d s e c u r itie s .....................
$1,000,000
to
$2,000,000
(In thousa:nds of dollars )
ASSETS
C a s h , b a la n c e s \^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 :
242,516
Currency and coin .................................................
Balances with banks............................................. 2,010,462
61,888
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 ............................................................ 2,314,866
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 and industrial loans......................
Agricultural loans (excluding loans on farm
la n d ).................................................................
Commercial paper bought in open m arket. . .
N otes, bills, acceptances, etc., payable in
$5,000,000 $10,000,000! __
+-0
| More than
to
$10,000,000 $50,000,000 $50,000,000
$500,000
to
$1,000,000
M is ce lla n e o u s a s s e ts :
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Investments and other assets indirectly
representing bank premises or other
real estate........................................................
Customers’ liability on acceptances.................
Incom e accrued but not collected.....................
Prepaid expenses....................................................
Other miscellaneous assets..................................
T o t a l m is ce lla n e o u s a s s e t s ........................
626
342
9,752
588
6,491
1,432
11,364
297,283
5,936
2,442
12,937
5,438
19,094
9,140
25,258
14,187
31,904
25,841
14,920
12,468
39,107
36,405
6,589
5,022
8
64
401
815
1
1
81
1,059
27
7
221
8,697
115
17
697
19,605
353
44
1,051
30,497
1 194
* 19
464
96
1,210
42,428
2,528
45
760
1ftA
io
4
1,883
63,145
1,594
104
760
fiQ
O
O
1,185
31,119
3,038
412
3,069
QA
0
UQ
0
4,711
87,545
942
192
325
13,188
8,022,909
28,685
356,829
845,686
1,196,590
1,351,329
1,522,895
689,552
1,422,477
608,866
2,809,844
3,299,238
661,486
49,946
13,026
116,132
13,393
5,381
2,251
28
40
264
160,639
97,444
33,793
343
839
2,007
356,657
283,244
80,448
962
2,054
3,890
463,011
*tOD
104,563
2,068
3,505
7,923
489,399
DO-L,DOO
109,948
3,365
2,659
10,999
COC,v/00
QQQ
0^0
669,807
100,605
5,800
1,498
17,210
255,479
271,826
47,624
5,323
738
14,596
AOQ,O
Qi7
Qrr
4oy
I
605,589
128,489
12,668
1,693
QQ fiQ9
oo,uy^
104,881
347,468
53,765
19,389
57,908
7,007,580
8,589,753
3 ,J+1 7,827
77
21,434
15,669
5,765
1,600
296,665
191+,036
102,629
4,917
732,172
1+37,607
291+,565
7 041
1,044,’ 957
571,000
/ OjifO /
9 144
1,187447
608. 698
o <a ,4-4*'
11 791
ljOOi)tU77
/ 1 979
AQ9
V
%74C f 97f
6,740
An'y
320,332
281,991+
10,807
I,ZOO,/OD
610,772
625,963
5,791
552,445
190,367
362,078
8,199
595
2,870
16,273
8,790
45
191
578
171
18
9
12
194
227
107
402
884
324
448
1,620
705
250
19
481
2,363
1,014
138
45
430
3,902
1,719
1
105
275
682
1,067
6,825
418
467
5,762
3,379
155
Q.OA
OZ4:
463
1,445
7,829
46,001
9
93
99
818
325
2,513
45
474
3,463
707
631
5,465
172
1,273
7,679
32
1,227
3,389
489
3,151
20,491
RAA
04U
2,090
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 s ) .................................................. 7,053,581
21,527
297,483
734,685
1,048,420
1,192,612
1
^41 ,0^78
1 jOtI
/0
DUO, / ID
1,257,226
554,535
512,302
281,657
116,136
40,545
18,688
969,328
5,121
1,312
551
80
94
7,158
38,660
12,427
6,222
969
1,068
59,346
66,979
26,651
13,236
2,368
1,767
111,001
83,400
39,477
17,982
4,674
2,637
148,170
88,238
41 653
19 937
5*420
3,469
158,717
94,833
ox ,*±ou
9Q
A(\7|
L
iO,^U
8,098
3 729
181,’ 517
42,381
26,394
9,446
A 991
1
x ,oyo
00,00/
75,365
56,923
20,696
10,441
1,826
165,251
17,325
25,370
4,659
4,274
<UO
54,331
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s .. 8,022,909
28,685
356,829
845,686
1,196,590
1,351,329
689,552
1,422,477
608,866
T o t a l a s s e t s ......................................................
110
0
LIABILITIES
Back figures— See the following Annual Reports:
1939, p. 138; 1938, p. 174; 1937, p . 116; 1936, p . 142; 1935, p. 176; 1934, p. 198.
155
^ A ? ai?ks reporting to F D IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in
the District of Columbia. Statements of 4 trust companies not engaged in deposit banking are excluded.
BANKS
1,522,895
OF OPERATING
CAPITAL ACCOUNTS
C a p ita l a c c o u n t s :
Capital stock, notes, and debentures..............
Surplus.............................................................
Undivided profits.................................................
Reserve for contingencies....................................
All other capital accou nts...................................
T o ta l ca p ita l a c c o u n t s ................................
0
LIABILITIES
M isce lla n e o u s lia b ilitie s :
Bills payable, rediscounts, and other liabilities
for borrowed m on ey.....................................
Acceptances outstanding.....................................
Dividends declared but not yet p ayable.........
Incom e collected but not earned............ ..........
Expenses accrued and unpaid ............................
M ortgage bonds and participation certificates
outstanding.....................................................
Other miscellaneous liabilities............................
T o t a l m is c e lla n e o u s lia b ilit ie s ................
21,151
AND
D e p o s its :
Individuals, partnerships, and corporations:
D em and ...............................................................
T im e ....................................................
States and political subdivisions.......................
United States G overnm ent.................................
Postal savings.........................................................
Other banks.................................................
Certified and officers’ checks, cash letters
of credit and travelers’ checks out
standing, e tc.................................................
T o t a l d e p o s it s ...............................................
Demand..........................................
T im e................................................
ASSETS
156,371
111,285
Table 123.
AVERAGES PER B A N K OF ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS SUBMITTING REPORTS TO THE
Federal D
e p o s it
I n s u r a n c e C o r p o r a t io n , D
ecem ber
31, 1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
156
Banks with deposits o fAll
banks
N um ber of banks2..................................
6 ,9 4 2
$ 100,000
or
less
281
$ 100,000
$ 2 5 0 ,0 0 0
to
to
$ 2 5 0 ,0 0 0
$ 5 0 0 ,0 0 0
1 ,6 7 2
2 ,0 4 4
$ 5 0 0 ,0 0 0
$1 ,000,000
$ 2 ,000,000
to
$1,000,000
to
$2 ,000,000
$ 5 ,0 0 0 ,0 0 0
1 ,4 9 7
845
445
to
$ 5 ,0 0 0 ,0 0 0
to
$ 10 ,000,000
$10,000,000
More than
to
$ 5 0 ,0 0 0 ,0 0 0
$ 5 0 ,0 0 0 ,0 0 0
62
$ 2 6 0 ,6 7 8
C1)
ASSETS
T o t a l loa n s a n d s e c u r it ie s ..............
$ 6 ,8 9 1
5 9 ,0 3 9
$ 1 2 ,3 6 8
1 1 5 ,9 8 4
$ 2 4 ,6 8 8
2 1 3 ,3 6 6
$ 5 2 ,1 2 6
4 2 2 ,0 5 6
253
424
883
2 ,9 3 5
9 ,1 7 8
66,354
129,235
$110,097
8 3 1 ,3 6 1
2 ,0 9 0 ,2 6 7
$ 6 1 6 ,0 8 1
5 ,1 3 8 ,2 2 6
3 0 ,0 1 1
1 0 0 ,9 7 7
3 1 0 ,5 1 6
$ 2 ,1 5 2 ,3 3 3
1 8 ,9 0 8 ,6 6 7
9 1 0 ,1 6 7
240,989
483,360
971,469
2,451,922
6,064,823
21,971,167
$ 6 8 ,7 5 3
$ 1 4 2 ,6 8 1
$ 3 5 0 ,7 2 4
$ 9 5 7 ,8 6 7
$ 3 ,8 7 9 ,5 4 8
$ 3 0 ,1 2 7 ,1 6 7
2 0 ,0 6 2
4 8 ,5 9 1
1 0 1 ,4 6 7
2 9 4 ,8 7 7
7 3 0 ,3 5 5
3 .3 3 6 .8 3 3
2 8 ,9 5 4
1 6 ,7 9 2
6 5 ,4 2 7
4 2 ,2 8 3
1 2 ^ ,4 1 5
1 1 0 ,9 4 3
2 4 2 ,0 8 3
2 9 0 ,0 6 8
5 4 9 ,6 8 9
6 0 2 ,5 0 0
1 ,6 2 2 ,3 8 7
1 ,7 3 6 ,4 6 8
196,525
8 .7 3 4 .8 3 3
4 ,4 5 7 ,6 6 7
93,472
427,630
984,342
2,404,933
7,968,758
46,656,500
333,458
34,665
$ 1 4 4 ,5 1 8
$ 7 ,3 7 0
$ 2 0 ,7 5 6
3 3 ,5 1 9
1 ,3 8 4
3 ,6 2 9
8 ,8 7 8
8 5 ,7 6 7
7 4 ,7 8 9
3 3 8 ,5 9 3
4 ,6 6 9
1 ,1 9 3
1 2 ,4 3 0
5 ,8 4 1
14,616
42,656
$ 6 7 ,0 6 2
$ 5 ,4 9 1
$ 1 0 ,0 6 1
$ 2 0 ,7 0 6
$ 4 8 ,5 2 9
$ 1 0 6 ,0 0 9
$ 2 6 2 ,9 0 3
$ 5 3 5 ,8 3 3
$ 1 ,1 1 6 ,0 4 8
$ 1 ,3 6 9 ,1 6 7
5 9 ,9 6 3
7 ,3 0 7
2 3 ,5 5 2
4 2 ,1 3 6
6 1 ,7 1 8
1 ,1 4 9
7 5 ,9 2 1
7 9 ,9 1 0
8 ,7 6 6
5 8 ,8 1 1
3 6 ,5 6 9
4 5 ,5 6 7
6 7 ,0 2 2
2 5 ,6 9 4
1 8 8 ,6 6 1
1 6 6 ,6 6 6
75
393
3 ,5 3 2
19
6
1
16
18
83
2 ,9 7 9
7
94
19
17
24
165
28
91
710
3 ,4 2 0
811
300
3 0 ,4 7 8
274
3 ,8 3 9
1 0 9 ,0 0 0
1 ,4 5 5 ,1 6 7
1 0 ,8 0 1
342
958
3 ,8 3 7
1 1 ,6 7 6
4 1 ,9 8 4
1 2 4 ,0 5 6
3 4 8 ,4 5 2
8 9 4 .1 6 7
1 4 ,1 5 3
8 ,1 4 1
2 ,2 5 8
53
2 1 ,5 4 1
2 7 ,6 6 5
4 7 ,5 5 9
6 3 ,2 4 5
1 4 ,6 7 2
6 2 ,8 4 4
7 7 6 ,9 1 1
3 4 5 ,9 4 4
366
2 5 5 ,1 3 3
744
5 5 8 ,2 7 9
1 ,0 8 9
3 2 3 .1 6 7
1 5 .1 4 9 .0 0 0
7 .3 7 4 .0 0 0
158
8 3 ,6 1 6
167
6 1 ,0 1 3
4 0 7 ,2 5 4
1 0 5 ,9 1 5
330
1 1 5 ,0 3 2
2 2 ,7 3 6
5 ,4 7 7
90
4 0 ,7 0 1
117
5 8 ,2 5 6
1 5 8 ,9 5 2
4 0 ,2 8 9
97
1 7 2 ,9 9 6
223
181,441
341,439
638,003
1,324,525
2,459,067
$274,913
$537,964
$1,065,633
$2,308,867
3 5 ,1 8 3
1 0 9 ,3 1 2
3 3 ,5 1 1
6 ,1 6 0
2 ,7 6 2
993
121
1 1 4 ,2 9 6
186
9 ,7 9 7
92
440,831
49,032
86
99,202
$779,424
$63,648
$141,858
2 ,0 4 7 ,5 6 5
7 5 8 ,6 4 5
597
2 ,7 8 1 ,3 2 2
2 ,4 5 2
’ ’ 3,915,833
7,497,581
30,652,000
$4,864,000 $15,466,339
$77,308,500
4 ,8 3 3
CORPORATION
L o a n s , d is c o u n ts , a n d ov e r d ra fts (in c lu d
ing, r e d is c o u n t s ):
Commercial and industrial loans....................
Agricultural loans (excluding loans on farm
la n d )...............................................................
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 brokers and dealers in securities.. .
Other loans for the purpose of purchasing
or carrying securities.............................
Real estate loans:
On farm la n d ...............................................
On residential properties..........................
On other properties....................................
Loans to banks................................................
All other loans.................................................
Overdrafts.........................................................
T o t a l lo a n s, d is c o u n ts , a n d o v erd ra fts
$ 4 ,0 6 0
3 0 ,3 5 2
8 ,9 1 5
INSURANCE
S e cu ritie s:
Direct obligations of the U. S. Governm ent.
Obligations guaranteed by the U .S . Govern
ment ...............................................................
Obligations of States and political sub
divisions ....................................................
Other securities...............................................
T o t a l s e c u r itie s ........................................
$ 3 4 ,9 3 5
2 8 9 ,6 0 8
DEPOSIT
C a sh , b a la n c e s w ith o th e r b a n k s, a n d ca sh
ite m s In p rocess o f c o lle c t io n :
Currency and coin ..............................................
Balances with banks...........................................
Cash items in process of collection.................
T o t a l ca sh , b a la n ces w ith o t h e r b a n k s v
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 ..........................................................
FEDERAL
90
M is ce lla n e o u s a ss e ts:
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Investments and other assets indirectly
representing bank premises or other
real estate......................................................
Other miscellaneous assets................................
T o ta l m is ce lla n e o u s a ss e ts ......................
$22,526
16,030
$2,228
1,217
$3,550
1,461
$6,330
2,660
$12,755
6,106
$29,891
16,789
$71,694
58,069
$165,778
138,533
$630,758
587,177
$1,098,166
837,000
1,405
2,863
42,824
29
295
3,769
38
153
5,202
196
406
9,592
544
967
20,372
1,413
2,117
50,210
5,681
6,454
141,898
17,711
23,744
345,766
49,000
145,080
1,412,015
18,333
244,500
2,197,999
$102,082
$213,414
$413,740
$799,325
$1,599,203
$3,422,234
$7,661,688 $22,943,177 $101,477,666
T o t a l a s s e ts ....................................................
$309,292
305,174
69,848
1,382
2,341
5,293
$579,169
664,653
130,116
3,982
3,147
13,017
$1,184,242
1,505,184
226,079
13,034
3,366
38,674
$2,838,655
3,020,289
529,156
59,144
8,200
162,178
$7,087,048
9,767,565
2,072,403
204,323
27,306
614,387
$17,480,167
57,911,333
8,960,833
3,231,500
8,342
1,009,447
517,107
1*92,81+0
274
76,278
55,762
20,516
957
177,431
116,050
61,381
2,405
358,205
211+,093
1U J12
4,704
698,034
381,1+30
316,601+
10,821
1,404,905
720,351
681+,551+
26,496
2,997,075
1,1+1+1,060
1,556,015
74,889
6,692,511
3,559,21+1+
3,133,267
174,307
19,947,339
9,851,161
10,096,178
965,167
92,074,167
31,727,833
60,31+6,331+
M is ce lla n e o u s lia b ilitie s :
Bills payable, rediscounts, and other lia
bilities for borrowed m oney.....................
Other miscellaneous liabilities..........................
T o t a l m is ce lla n e o u s lia b ilit ie s ..............
$1,181
5,446
6,627
$160
171
331
$114
375
489
$283
947
1,230
$114
2,199
2,313
$296
6,172
6,468
$310
16,946
17,256
$11
37,644
37,655
$110,081
220,419
330,500
$348,333
348,333
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 s ) ................................................ $1,016,074
$76,609
$177,920
$359,435
$700,347
$1,411,373
$3,014,331
$6,730,166 $20,277,839
$92,422,500
$73,797
40,573
16,729
5,841
2,692
139,632
$18,224
4,669
1,961
285
334
25,473
$23,122
7,433
3,721
579
639
35,494
$32,768
13,038
6,476
1,158
865
54,305
$55,711
26,371
12,012
3,123
1,761
98,978
$104,423
49,293
23,594
6,414
4,106
187,830
$213,108
115,618
52,600
18,197
8,380
407,903
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s . $1,155,706
$102,082
$213,414
$413,740
$799,325
$1,599,203
$3,422,234
CAPITAL ACCOUNTS
C a p ita l a c c o u n t s :
Capital stock, notes, and debentures............
Surplus...................................................................
Undivided profits.................................................
Reserve for contingencies..................................
All other capital accou nts.................................
T o t a l ca p ita l a c c o u n t s ..............................
$470,900
293,267
104,955
46,900
15,500
931,522
$1,215,564
918,113
333,806
168,403
29,452
2,665,338
3,525,167
$2,887,500
4,228,333
776.500
712,333
450.500
9,055,166
BANKS
$174,490
138,573
39,358
471
1,005
1,903
OPERATING
$96,076
58,280
20,211
205
502
1,200
OF
$47,662
19,150
8,011
100
142
939
LIABILITIES
$404,760
475,258
95,287
7,195
1,876
16,729
AND
D e p o s its :
Individuals, partnerships, and corporations:
D em and.............................................................
T im e ...................................................................
States and political subdivisions.....................
United States G overnm ent...............................
Postal savings......................................................
Other banks..........................................................
Certified and officers’ checks, cash letters of
credit and travelers’ checks out
standing, etc.................................................
T o t a l d e p o s it s ...............................................
Demand..........................................................
T im e...............................................................
ASSETS
LIABILITIES
$7,661,688 $22,943,177 $101,477,666
1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
Jl.Ba? ks reP °rting to F D IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in
the District of Columbia. Statements of 4 trust companies not engaged in deposit banking are excluded.
1939, p. 140; 1938, p. 176; 1937, p. 118; 1936, p. 144; 1935, p. 178; 1934, p. 200.
157
Back figures— See the following Annual Reports:
T a b le
124.
PERCENTAGE D IS TR IB U TIO N OF PRINCIPAL ASSET AND L IA B IL IT Y ITEMS OF OPERATIN G INSURED COMMERCIAL B A N K S
Su b m it t in g
R
eports
to
the
F ederal D
e p o s it
Insu ran ce
C
o r p o r a t io n ,
D
ecem ber
31, 1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of—
All
banks
Number of banks2.........................................
6,942
$100,000
or
less
281
$100,000
to
$250,000
1,672
$250,000
to
$500,000
2,044
$500,000
to
$1,000,000
1,497
$1,000,000
to
$2,000,000
845
$2,000,000
to
$5,000,000
445
$5,000,000 $10,000,000 More than
to
$50,000,000
to
$10,000,000 $50,000,000
C1)
90
62
6
Total loans and securities.....................
3.0%
28.0
.2
3.1%
26.7
.3
3 .2%
26.4
.6
3.2%
24.3
.9
3.4%
27.3
1.3
2.7%
22.4
1.3
2.1%
18.7
.9
28.9
34.0
31.1
31.2
30.1
30.2
28.4
32.0
26.4
21.7
29.7%
7.2%
9.7%
9.4%
8.6%
8 .9%
10.2%
12.5%
16.9%
2.9
1.4
1.7
2.1
2.5
3.1
3.0
3.9
3.2
3.3
7.4
6.5
29.3
4.6
1.1
14.3
5.8
2.7
19.9
7.0
4.1
22.6
8.2
5.3
24.6
7.8
6.9
26.7
7.1
8.4
28.7
7.2
7.9
31.5
7.1
7.6
34.8
8.6
4.4
46.0
12.5%
5.8%
5.2
.6
5.4%
23.1
.0
.0
6.1%
6.6%
7.7%
19.7
.2
14.9
.3
9.5
.4
5.0
.6
1.7
1.1
.0
.0
.0
4.7%
5.0%
7.0%
4.9%
1.3%
.6
.9
.1
.8
.2
1.4
.0
.0
.0
.3
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.1
.1
.0
.0
.4
.0
.0
.5
.9
.1
.2
.2
.5
.7
1.2
1.6
1.5
.9
3.0
9.5
2.9
.0
9.9
.0
38.1
6.0
2.7
1.0
6.7
5.5
1.4
.0
9.9
.0
43.9
6.0
7.9
1.8
.0
10.5
.0
42.7
3.6
9.9
2.5
.0
10.8
.1
39.9
1.8
11.9
3.1
.0
10.1
.0
38.7
.8
10.2
3.3
.0
7.3
.0
32.1
.5
9.0
3.3
.0
12.1
.0
32.7
.3
14.9
7.3
9.6
.1
48.0
6.6
3.8
1.1
.0
10.1
.1
46.5
3.9
.0
30.2
67A % 1
62.3%
66.4%
66.5%
67.3%
66.6%
67.4%
63.6%
67.5%
76.2%
CORPORATION
Acceptances of other banks, payable in the
TTnifpH StjitpQ
Reporting banks’ own acceptances...................
Loans to brokers and dealers in securities----Other loans for the purpose of purchasing or
carrying securities.........................................
Real estate loans:
On farm la n d .....................................................
On residential properties.................................
On other properties..........................................
Loans to ban ks......................................................
All other loans........................................................
Overdrafts...............................................................
Total loans, discounts, and overdrafts
3.2%
27.7
.2
INSURANCE
Loans, discounts, and overdrafts (includ
ing rediscounts):
Commercial and industrial loans......................
Agricultural loans (excluding loans on farm
la n d ).................................................................
Commercial paper bought in open m arket. . .
N otes, bills, acceptances, etc., payable in
4.0%
29.8
.2
DEPOSIT
Securities:
Direct obligations of the U. S. G overnm ent. .
Obligations guaranteed by the U. S. Govern
ment .................................................................
Obligations of States and political sub
divisions ..........................................................
Other securities......................................................
Total securities...............................................
3.0 %
25.1
.8
FEDERAL
ASSETS
Cash, balances with other banks, and cash
item s in process of collection:
Currency and co in .................................................
Balances with banks.............................................
Cash items in process of collection...................
Total cash, balances with other banks,
and cash item s in process of col
lection ............................................................
M is ce lla n e o u s a ssets:
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Investments and other assets indirectlyrepresenting bank premises or other
real estate.............................................
Other miscellaneous assets.......................
T o t a l m is c e lla n e o u s a s s e ts .............
T o t a l a s s e t s ...........................................
1.5%
.6
1.6%
.8
1.9%
1.1
2 .1 %
1.7
2.1 %
1.8
2.7%
2.6
1.1%
.8
.1
.2
3.7
.3
3.7
.1
2.5
.1
.1
2.3
.1
.1
2.6
.1
.1
3.2
.2
.2
4.2
.2
.3
4.4
.2
.6
6.1
.0
.2
2.1
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
35.0%
41.1
8.2
.6
.2
1.5
46.7%
18.8
7.8
.1
.1
.9
45.0%
27.3
9.5
.1
.2
.6
42.2%
33.5
9.5
.1
.2
.5
38.7%
38.2
8.7
.2
.3
.6
36.2%
41.6
8.1
.3
.2
.8
34.6%
44.0
6.6
.4
.1
1.1
37.1%
39.4
6.9
.8
.1
2.1
30.9%
42.6
9.0
.9
.1
2.7
17.2%
57.1
8.8
3.2
.7
87.3
U .7
.3
74.7
54-6
20.1
.4
83.1
54-4
28.7
.6
86.6
51.8
34.8
.6
87.3
47.7
39.6
.7
87.9
45.1
42.8
.8
87.6
1.0
87.4
46.5
40.9
.8
87.0
43.0
44.0 •
1.0
90.8
81.3
59.5
LIABILITIES
D e p o s its :
Individuals, partnerships, and corporations:
D em and ....................................................
T im e ..........................................................
States and political subdivisions.............
United States G overnm ent......................
Postal savings..............................................
Other ban ks.................................................
Certified and officers’ checks, cash letters
of credit and travelers’ checks out
standing, e tc...................................................
T o t a l d e p o s it s .................................................
Demand............................................................
T im e.................................................................
42.6
42.1
45.5
3.5
•1%
.1
.2
•1
-L°Z
Zv
.2
.3
.1%
.2
.3
•0%
.3
.3
.0%
.4
.4
•0%
.5
.5
.0%
.4
.4
•5%
.9
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 s ) ..............................................
87.9%
74.9%
83.4%
86.9%
87.6%
88.3%
88.1%
87.8%
88.4%
91.1%
6.4%
3.5
1.5
.5
.2
12.1
17.9%
4.6
2.0
.3
.3
25.1
10.8%
3.5
1.7
.3
.3
16.6
7.9%
3.2
1.5
.3
.2
13.1
7.0%
3.3
1.5
.4
.2
12.4
6.5%
3.1
1.5
.4
.2
11.7
6.2%
3.4
1.5
.5
.3
11.9
6.2%
3.8
1.4
.6
.2
12.2
5.3%
4.0
1.4
.8
.1
11.6
2.8%
4.2
.8
.7
.4
8.9
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
CAPITAL ACCOUNTS
C a p ita l a c c o u n t s :
Capital stock, notes, and debentures..........
Surplus.................................................................
Undivided profits..............................................
Reserve for contingencies................................
All other capital accou n ts................................
T o t a l c a p ita l a c c o u n t s ............................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s
BANKS
.1 %
.5
.6
OF OPERATING
M is ce lla n e o u s lia b ilitie s :
Bills payable, rediscounts, and other lia
bilities for borrowed m on ey.......................
Other miscellaneous liabilities............................
T o t a l m is ce lla n e o u s lia b ilit ie s ................
LIABILITIES
1.7%
.7
AND
2.2%
1.2
ASSETS
2.0%
1.4
1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
2 Banks reporting to F D IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in
the District of Columbia. Statements of 4 trust companies not engaged in deposit banking are excluded.
Back figures— See the following Annual Reports:
1939, p . 142; 1938, p. 178; 1937, p. 120; 1936, p. 146; 1935, p . 180; 1934, p. 202.
cn
ANALYSIS OF EXAMINATIONS OF INSURED COM M ERCIAL BANKS
T able 125.
M
A N A LY SIS OF C A PITA L AND LIABILITIE S OF INSURED COMMERCIAL B A N K S E XA M IN ED IN
Ci
O
1940
BANKS GROUPED B Y NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
Num ber
of
banks
Book value
Private
N et sound capital
Total
R . F . C.i
([In thousands of dollars)
6,325,809
436,880
Other
liabilities
Total
Deposits
5,888,929
58,640,075
57,919,547
720,528
Private
365,756
6,192,079
232,026
B an k s w ith n e t s o u n d
ca p ita l
per
$100 o f
a p p ra ised
va lu e
of
assets o f —
$0.00 or less................................
$0.01 to $4.99
$5.00 to $9.99
7
49
2,872
5,334
13,662
3,145,875
1,190
2,019
176,747
4,144
11,643
2,969,128
6,839
4,089
112,345
*-1,505
9,573
3,033,530
6,140
2,748
213,325
*-7,645
6,825
2,820,205
40,511
211,335
37,280,646
39,348
209,709
36,739,600
1,163
1,626
541,046
$10.00 to $14.99
$15.00 to $19.99
$20.00 to $24.99
6,112
2,829
1,032
2,348,048
563,689
259,643
129,888
31,908
19,036
2,218,160
531,781
240,607
87,630
28,804
7,712
2,260,418
534,885
251,931
i 54,737
35,189
19,773
2,105,681
499,696
232,158
16,950,334
2,655,968
895,301
16,815,905
2,627,307
888,543
134,423
28,661
6,758
325
131
80
153,239
51,515
16,830
3,399
654
915
149,840
50,861
15,915
5,118
10,621*
344
158,352
62,139
16,486
3,399
654
915
154,953
61,485
15,571
447,453
137,317
21,210
443,984
134,811
20,340
3,469
2,506
870
B a n k s w ith fixed a n d
su b sta n d a rd assets per
$100 o f a p p ra ised va lu e
o f a ssets o f —
$ 0 .0 0 .............................................
$0.01 to $4.99
$5.00 to $9.99
46
5,022
4,481
16,253
3,311,995
1,998,547
87
84,335
136,337
16,166
3,227,660
1,862,210
708
42,802
68,648
16,961
3,269,193
1,929,899
87
99,034
164,627
16,874
3,170,159
1,765,272
135,709
35,071,817
15,924,720
133,782
34,534,419
15,802,267
1,927
537,398
122,453
$10.00 to $14.99
$15.00 to $19.99 ,
$20.00 to $24.99 , .
2,116
1,005
418
644,637
319,221
128,038
62,205
40,580
15,787
582,432
278,641
112,251
49,081
36,141
3,067
595,556
283,080
124,971
68,490
51,225
20,034
527,066
231,855
104,937
4,334,624
1,887,807
662,030
4,309,567
1,878,535
655,888
25,057
9,272
6,142
$25.00 to $29.99 ,
$30.00 to $34.99
$35.00 or m o r e ... ,
200
75
74
69,860
29,804
39,480
15,942
6,411
4,072
53,918
23,393
35,408
10,880
9,747
12,368
58,980
20,057
27,112
16,567
12,234
4,582
42,413
7,823
22,530
308,135
168,424
146,809
304,333
166,752
134,004
3,802
1,672
12,805
,
.
$25.00 to $29.99
$30.00 to $34.99
$35.00 or m o re ...
CORPORATION
6,557,835
INSURANCE
13,437
A ll b a n k s .................
DEPOSIT
Total
R . F. C.i
Examiners’
deductions
(net)2
FEDERAL
Adjusted liabilities (exclusive of
capital accounts)
Capital accounts
Banks with 3-year aver
age net current oper
ating earnings per $100
of total assets of—
$-0.50 or less ..............................
$-0.01 to $-0.4 9 ..........................
566
812
1,569
11,400
508
1,831
1,627
10,381
566
1,012
1,061
9,369
6,566
76,091
6,516
75,462
50
629
$ 0.4 9 .............................
$0.9 9 .............................
$1.4 9 .............................
$ 1.9 9 .............................
997
4,094
4,605
2,305
1,390,397
3,129,423
1,408,258
450,920
67,224
164,099
101,759
23,865
1,323,173
2,965,324
1,306,499
427,055
35,939
121,572
72,145
7,983
1,354,458
3,007,851
1,336,113
442,937
94,398
195,543
110,909
26,472
1,260,060
2,812,308
1,225,204
416,465
14,439,659
30,851,603
10,097,915
2,357,096
14,307,125
30,357,336
10,042,462
2,340,532
132,534
494,267
55,453
16,564
$2.00 to $2.4 9 .............................
$2.50 to $2.9 9 .............................
$3.00 or m ore..............................
N ot available..............................
848
299
194
19
100,820
38,828
23,074
1,768
4,834
1,330
827
440
95,986
37,498
22,247
1,328
9,120
676
440
52
109,940
38,152
22,634
1,716
4,834
1,330
827
989
105,106
36,822
21,807
727
520,941
170,844
106,198
13,162
514,050
161,726
101,281
13,057
6,891
9,118
4,917
105
Banks with deposits of—
$100,000 or less..........................
$100,000 to $250,000................
$250,000 to $500,000................
385
2,230
3,086
10,546
88,237
191,328
1,050
7,904
15,478
9,496
80,333
175,850
520
3,396
6,067
10,026
84,841
185,261
1,050
7,974
15,700
8,976
76,867
169,561
29,520
407,426
1,128,068
29,149
405,134
1,123,739
371
2,292
4,329
$500,000 to $1,000,000.............
$1,000,000 to $2,000,000.........
$2,000,000 to $5,000,000.........
3,022
2,169
1,483
338,979
456,286
644,900
23,850
35,317
50,445
315,129
420,969
594,455
13,683
24,797
34,708
325,296
431,489
610,192
25,526
36,767
57,706
299,770
394,722
552,486
2,177,754
3,076,792
4,554,449
2,169,338
3,060,390
4,530,855
8,416
16,402
23,594
$5,000,000 to $10,000,000___
$10,000,000 to $50,000,000. . .
M ore than $50,000,000............
516
418
128
474,412
959,073
3,394,074
49,412
87,328
94,972
425,000
871,745
3,299,102
23,823
36,154
88,878
450,589
922,919
3,305,196
55,731
124,034
112,392
394,858
798,885
3,192,804
3,562,270
8,521,443
35,182,353
3,538,555
8,458,526
34,603,861
23,715
62,917
578,492
$0.00
$0.50
$1.00
$1.50
to
to
to
to
N ote:
For banks included and explanation of terms, see pages 85-87.
Back figures— See the Annual R eport for 1939, p. 150.
BANKS
OF INSURED
1 B ook value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.
2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
amount of liabilities not shown on the books.
3 Adjusted liabilities exceed the appraised value of assets.
4 Adjusted liabilities plus the retirable value of R . F. C. capital exceed the appraised value of assets.
OF EXAMINATIONS
2,135
12,212
ANALYSIS
17
59
162
Table 126.
NET SOUND CAPITAL RATIOS OF INSURED COMMERCIAL BANKS EXAMINED IN
1940
BANKS GROUPED B Y NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
Number
of
banks
Book value
R . F . C.1
Private
Net sound capital
Total
R . F . C .1
Private
Appraised
value
of assets
Deposits
$100.00
$ 5.58
$94.42
$ 3.54
$96.46
$ 6.66
$89.80
$ 9.74
$10.92
B an k s w ith n e t so u n d
c a p i t a l p e r $ 10 0 o f
a p p r a is e d v a lu e
of
assets o f—
$0.00 or less................................
$0.01 to $4.99.............................
$5.00 to $9.99.............................
7
49
2,872
100.00
100.00
100.00
22.31
14.78
5.62
77.69
85.22
94.38
128.22
29.93
3.57
s-28.22
70.07
96.43
115.11
20.11
6.78
4-143.33
49.96
89.65
s-3.86
4.33
7.52
3-3.82
4.56
8.26
$10.00 to $14.99........................
$15.00 to $19.99........................
$20.00 to $24.99........................
6,112
2,829
1,032
100.00
100.00
100.00
5.53
5.66
7.33
94.47
94.34
92.67
3.73
5.11
2.97
96.27
94.89
97.03
6.59
6.24
7.62
89.68
88.65
89.41
11.77
16.76
21.96
13.44
20.36
28.35
$25.00 to $29.99........................
$30.00 to $34.99........................
$35.00 or m ore...........................
325
131
80
100.00
100.00
100.00
2.22
1.27
5.44
97.78
98.73
94.56
*3.3h
520.62
2.04
5103.34
5120.62
97.96
2.22
1.27
5.44
5101.12
5119.35
92.52
26.14
31.15
43.73
35.67
46.09
81.05
B a n k s w ith fixed a n d
su b sta n d a rd assets per
$100 o f a p p ra ised va lu e
o f assets o f—
$ 0 .0 0 .............................................
$0.01 to $4.99 ..........................
$5.00 to $9.9 9 .............................
46
5,022
4,481
100.00
100.00
100.00
.54
2.55
6.82
99.46
97.45
93.18
h.36
1.29
3.43
104.36
98.71
96.57
.54
2.99
8.24
103.82
95.72
88.33
11.11
8.53
10.81
12.68
9.47
12.21
$10.00 to $14.99........................
$15.00 to $19.99........................
$20.00 to $24.99........................
2,116
1,005
418
100.00
100.00
100.00
9.65
12.71
12.33
90.35
87.29
87.67
7.61
11.32
52.40
92.39
88.68
597.60
10.62
16.05
15.65
81.77
72.63
581.95
12.08
13.04
15.88
13.82
15.07
19.05
$25.00 to $29.99........................
$30.00 to $34.99........................
$35.00 or m ore...........................
200
75
74
100.00
100.00
100.00
22.82
21.51
10.31
77.18
78.49
89.69
15.57
32.70
31.33
84.43
67.30
68.67
23.71
41.05
11.61
60.72
26.25
57.06
16.07
10.64
15.59
19.38
12.03
20.23
CORPORATION
13,437
INSURANCE
A ll b a n k s ........................................
DEPOSIT
Total
Examiners’
deductions
(net)2
FEDERAL
N et sound capital
per $100 of—
Per $100 of capital accounts (book value)
B an k s w ith 3 -yea r aver
a ge n e t cu r r e n t o p e r
a tin g ea rn in g s p er $100
o f t o ta l assets o f —
$-0.50 or less..........................
$-0.01 to $-0.4 9 .....................
26.51
6.65
73.49
93.35
23.79
14.99
76.21
85.01
26.51
8.29
49.70
76.72
19.86
12.01
24.97
13.76
$ 0.4 9 ........................
$ 0.9 9 ........................
$ 1.4 9 ........................
$ 1.9 9 ........................
997
4,094
4,605
2,305
100.00
100.00
100.00
100.00
4.83
5.24
7.23
5.29
95.17
94.76
92.77
94.71
2.58
3.88
5.12
1.77
97.42
96.12
94.88
98.23
6.79
6.25
7.88
5.87
90.63
89.87
87.00
92.36
8.58
8.88
11.69
15.82
9.47
9.91
13.30
18.92
$2.00 to $ 2.4 9 ........................
$2.50 to $ 2.9 9 ........................
$3.00 or m ore.........................
N ot available..........................
848
299
194
19
100.00
100.00
100.00
100.00
4.79
3.43
3.58
24.89
95.21
96.57
96.42
75.11
59.05
1.74
1.91
2.94
5109.05
98.26
98.09
97.06
4.79
3.43
3.58
55.94
6104.26
94.83
94.51
41.12
17.43
18.25
17.57
11.53
21.39
23.59
22.35
13.14
w ith d e p o sits ofor less.....................
to $250,000............
to $500,000............
385
2,230
3,086
100.00
100.00
100.00
9.96
8.96
8.09
90.04
91.04
91.91
4.93
3.85
3.17
95.07
96.15
96.83
9.96
9.04
8.21
85.11
87.11
88.62
25.35
17.23
14.11
34.40
20.94
16.49
$500,000 to $1,000,000........
$1,000,000 to $2,000,000. . .
$2,000,000 to $5,000,000. . .
3,022
2,169
1,483
100.00
100.00
100.00
7.04
7.74
7.82
92.96
92.26
92.18
4.04
5.43
5.38
95.96
94.57
94.62
7.53
8.06
8.95
88.43
86.51
85.67
13.00
12.30
11.81
15.00
14.10
13.47
$5,000,000 to $10,000,000. .
$10,000,000 to $50,000,000.
M ore than $50,000,000........
516
418
128
100.00
100.00
100.00
10.42
9.11
2.80
89.58
90.89
97.20
5.02
3.77
2.62
94.98
96.23
97.38
11.75
12.93
3.31
83.23
83.30
94.07
11.23
9.77
8.59
12.73
10.91
9.55
$0.00
$0.50
$1.00
$1.50
to
to
to
to
B anks
$100,000
$100,000
$250,000
N ote:
For banks included and explanation of terms, see pages 85-87.
OF INSURED
1 B ook value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.
2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
amount of liabilities not shown on the books.
3 Adjusted liabilities exceed the appraised value of assets.
4 Adjusted liabilities plus the retirable value of R . F . C. capital exceed the appraised value of assets.
6 For explanation of the apparent irregularity of this item, see pages 87-88.
OP EXAMINATIONS
100.00
100.00
ANALYSIS
17
59
Back figures— See the Annual R eport for 1939, page 152.
BANKS
Oi
CO
Table 127.
A N A L Y SIS OF C A PITA L AND LIABILITIE S OF IN SU RED COMMERCIAL B A N K S E X A M IN E D IN
1940
BANKS GROUPED B Y FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE
(Amounts in thousands of dollars)
Adjusted liabilities (exclusive of
capital accounts)
Capital accounts
N et sound capital
B ook value
Total
R. F. C .1
Private
Examiners’
deductions
(net)2
Total
R .F .C .i
Total
Deposits
Other
liabilities
Private
365,756
6,192,079
232,026
6,325,809
436,880
5,888,929
58,640,075
57,919,547
720,528
487
1,119
1,725
1,010
448,510
2,235,293
1,131,995
321,990
20,747
83,564
69,518
20,537
427,763
2,151,729
1,062,477
301,453
29,285
100,156
58,232
7,543
419,225
2,135,137
1,073,763
314,447
21,717
143,180
74,351
20,624
397,508
1,991,957
999,412
293,823
3,183,883
21,119,099
7,517,409
2,653,525
3,154,851
20,638,058
7,459,771
2,637,446
29,032
481,041
57,638
16,079
District
District
District
District
5 .....................................
6 .....................................
7 .....................................
8 .....................................
977
1,450
1,458
1,409
237,530
308,469
362,504
474,769
20,687
21,258
53,901
12,670
216,843
287,211
308,603
462,099
6,856
6,263
7,355
3,670
244,386
302,206
355,149
471,099
22,740
21,924
54,041
12,670
221,646
280,282
301,108
458,429
2,059,012
2,841,130
3,521,864
5,652,278
2,046,584
2,825,510
3,508,250
5,628,070
12,428
15,620
13,614
24,208
District
District
District
District
9 .....................................
1 0 ...................................
1 1 ...................................
1 2 ...................................
1,068
1,393
832
509
138,007
188,348
196,922
513,498
9,433
8,030
14,496
30,915
128,574
180,318
182,426
482,583
1,802
3,283
2,783
18,510
136,205
185,065
194,139
494,988
9,840
9,008
15,151
31,634
126.365
176,057
178,988
463,354
1,277,865
1,580,198
1,759,253
5,474,559
1,269,146
1,575,275
1,751,470
5,425,116
8,719
4,923
7,783
49,443
State
A labam a..........................
A rizona..........................
Arkansas......................................
California.....................................
C olorad o.......................................
209
12
210
197
139
48,676
7,934
25,525
404,570
36,120
5,955
1,197
2,275
25,364
1,726
42,721
6,737
23,250
379,206
34,394
1,423
132
514
17,377
658
47.253
7,802
25,011
387,193
35,462
7,533
1,197
2,302
25,681
1,726
39,720
6,605
22,709
361,512
33,736
332,219
91,491
191,246
4,345,297
355,870
330,664
90,273
190,722
4,303,179
354,648
1,555
1,218
524
42,118
1,222
C onnecticut.................................
Delaware......................................
District of C olum bia.................
F lorida..........................................
G eorgia.........................................
99
42
22
162
267
75,461
40,639
48,259
43,891
65,014
4,998
210
1,663
813
2,360
70,463
40,429
46,596
43,078
62,654
4,467
1,611
1,183
829
10,325
70,994
39,028
47,076
43,062
75,339
5,132
210
1,663
813
2,360
65,862
38,818
45,413
42,249
72,979
554,140
205,025
385,696
459,949
514,359
551,027
204,410
383,988
458,445
509,370
3,113
615
1,708
1,504
4,989
Id a h o............................................
Illinois...........................................
Indiana.........................................
Io w a ..............................................
Kansas..........................................
48
823
477
586
451
9,825
406,270
105,848
68,500
45,369
1,262
8,201
8,910
4,469
1,811
8,563
398,069
96,938
64,031
43,558
11
3,417
2,558
255
866
9,836
402,853
103,290
68,245
44,503
1,663
8,201
8,910
4,469
2,789
8,173
394,652
94,380
63,776
41,714
98,034
4,974,819
930,625
677,461
359,347
97,813
4,952,436
927,283
675,634
358,285
221
22,383
3,342
1,827
1,062
CORPORATION
6,557,835
INSURANCE
13,437
FDIC District
D istrict 1 .....................................
District 2 .....................................
District 3 .....................................
District 4 .....................................
DEPOSIT
United States— to ta l.................
FEDERAL
Number
of
banks
5,283
5,760
3,092
6,348
6,218
64,883
46,990
27,341
60,032
259,503
1,788
715
3,257
1,509
15,332
68,378
52,035
27,176
64,871
250,389
5,395
5,760
3,292
6,413
6,843
62,983
46,275
23,884
58,458
243,546
481,793
548,367
200,495
686,213
1,964,457
479,267
545,102
199,781
683,409
1,942,105
2,526
3,265
714
2,804
22,352
M ichigan......................................
M innesota....................................
M ississippi...................... ............
M issouri.......................................
M ontana......................................
424
643
195
580
111
143,652
99,058
27,198
145,787
15,812
24,559
5,191
5,799
5,200
777
119,093
93,867
21,399
140,587
15,035
821
765
500
2,050
183
142,831
98,293
26,698
143,737
15,629
24,699
5,578
6,274
5,200
792
118,132
92,715
20,424
138,537
14,837
1,614,163
950,467
204,117
1,600,733
150,123
1,607,133
943,056
203,003
1,591,829
149,678
7,030
7,411
1,114
8,904
445
N ebraska......................................
N e v a d a .........................................
N ew Hampshire.........................
N ew Jersey..................................
N ew M exico................................
363
11
56
352
40
39,307
3,433
16,376
217,579
5,805
2,263
12
254
41,088
479
37,044
3,421
16,122
176,491
5,326
680
59
1,118
21,101
197
38,627
3,374
15,258
196,478
5,608
2,263
12
264
76,080
479
36,364
3,362
14,994
120,398
5,129
327,095
44,073
86,666
1,813,095
62,356
326,080
43,855
86,412
1,801,436
62,295
1,015
218
254
11,659
61
New Y o r k ....................................
N orth Carolina...........................
North D a k ota ............................
O h io...............................................
O klahom a....................................
725
219
150
680
382
1,977,075
54,228
10,075
300,473
58,784
42,265
3,914
1,507
41,640
1,553
1,934,810
50,314
8,568
258,833
57,231
77,445
447
519
6,452
926
1,899,630
53,781
9,556
294,021
57,858
66,889
3,914
1,512
45,602
1,553
1,832,741
49,867
8,044
248,419
56,305
19,100,980
479,896
76,772
2,512,928
470,511
18,632,212
475,453
76,432
2,492,363
469,072
468,768
4,443
340
20,565
1,439
O regon..........................................
Pennsylvania..............................
R hode Island..............................
South Carolina...........................
South D a kota .............................
69
1,045
16
113
164
27,417
831,522
36,750
17,100
13,062
546
27,878
636
1,418
1,958
26,871
803,644
36,114
15,682
11,104
259
51,780
2,228
213
334
27,158
779,742
34,522
16,887
12,728
546
28,749
636
1,421
1,958
26,612
750,993
33,886
15,466
10,770
315,779
5,004,480
266,130
155,976
100,503
312,153
4,967,408
263,919
155,515
99,979
3,626
37,072
2,211
461
524
Tennessee.....................................
T exas.............................................
U ta h ..............................................
V erm on t.......................................
Virginia.........................................
288
780
54
72
308
66,992
183,182
18,305
23,770
86,800
8,500
12,819
1,365
5,550
4,878
58,492
170,363
16,940
18,220
81,922
1,911
2,454
11
2,883
2,017
65,081
180,728
18,294
20,887
84,783
9,027
13,475
1,365
5,550
4,898
56,054
167,253
16,929
15,337
79,885
567,357
1,605,407
154,854
111,994
634,821
563,692
1,598,902
154,233
111,607
629,291
3,665
6,505
621
387
5,530
W ashington.................................
W est Virginia..............................
W isconsin.....................................
W yom in g.....................................
130
174
557
58
49,948
49,222
113,004
8,768
2,368
2,314
20,432
678
47,580
46,908
92,572
8,090
816
2,173
3,976
153
49,132
47,049
109,028
8,615
2,368
2,314
20,432
678
46,764
44,735
88,596
7,937
516,523
310,922
977,076
67,375
513,883
309,790
973,834
67,191
2,640
1,132
3,242
184
N o te :
BANKS
iB o o k value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.
2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
amount of liabilities not shown on the books.
OF INSURED
70,166
52,750
30,433
66,380
265,721
OF EXAMINATIONS
372
144
59
174
185
ANALYSIS
K e n tu ck y .....................................
Louisiana.....................................
M a in e...........................................
M a rylan d .....................................
Massachusetts............................
For bank included and explanation of terms, see pages 85-88.
Back figures— See the Annual Report for 1939, page 154.
165
M e t S ou n d C a p it a l R a t io s o f In su r e d C o m m e rcia l B a n k s E xam in ed in
166
Table 128.
1940
BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE
N et sound capital
per $100 of—
Per $100 of capital accounts (book value)
N et sound capital
Book value
Total
R .F . C.1
Private
Examiners’
deductions
(net)2
Total
R . F . C.i
Private
Appraised
value of
assets
Deposits
$5.58
$94.42
$3.54
$96.46
$6.66
$89.80
$9.74
$10.92
487
1,119
1,725
1,010
100.00
100.00
100.00
100.00
4.63
3.74
6.14
6.38
95.37
96.26
93.86
93.62
6.53
4.48
5.14
2.34
93.47
95.52
94.86
97.66
4.84
6.41
6.57
6.41
88.63
89.11
88.29
91.25
11.64
9.18
12.50
10.59
13.29
10.35
14.39
11.92
District
District
District
District
5 .......................................
6 .......................................
7 .......................................
8 .......................................
977
1,450
1,458
1,409
100.00
100.00
100.00
100.00
8.71
6.89
14.87
2.67
91.29
93.11
85.13
97.33
2.89
2.03
2.03
.77
102.89
97.97
97.97
99.23
9.57
7.11
14.91
2.67
93.32
90.86
83.06
96.56
10.61
9.61
9.16
7.69
11.94
10.70
10.12
8.37
District
District
District
District
9 .......................................
1 0 .....................................
1 1 .....................................
1 2 .....................................
1,068
1,393
832
509
100.00
100.00
100.00
100.00
6.84
4.26
7.36
6.02
93.16
95.74
92.64
93.98
1.31
1.74
1.41
3.60
98.69
98.26
98.59
96.40
7.13
4.78
7.69
6.16
91.56
93.48
90.90
90.24
9.63
10.48
9.94
8.29
10.73
11.75
11.08
9.12
State
A labam a.........................................
A rizona...........................................
Arkansas........................................
C alifornia.......................................
C olorado...................................... ..
209
12
210
197
139
100.00
100.00
100.00
100.00
100.00
12.23
15.09
8.91
6.27
4.78
87.77
84.91
91.09
93.73
95.22
2.92
1.66
2.01
4.30
1.82
97.08
98.34
97.99
95.70
98.18
15.48
15.09
9.02
6.35
4.78
81.60
83.25
88.97
89.35
93.40
12.45
7.86
11.57
8.18
9.06
14.29
8.64
13.11
9.00
10.00
Connecticut...................................
D elaware........................................
District of C olum bia..................
Florida............................................
G eorgia...........................................
99
42
22
162
267
100.00
100.00
100.00
100.00
100.00
6.62
.52
3.45
1.85
3.63
93.38
99.48
96.55
98.15
96.37
5.92
3.96
2.45
1.89
15.88
94.08
96.04
97.55
98.11
115.88
6.80
.52
3.45
1.85
3.63
87.28
95.52
94.10
96.26
112.25
11.36
15.99
10.88
8.56
12.78
12.88
19.09
12.26
9.39
14.79
Id a h o ..............................................
Illinois.............................................
Indiana...........................................
Io w a ................................................
Kansas............................................
48
823
477
586
451
100.00
100.00
100.00
100.00
100.00
12.84
2.02
8.42
6.52
3.99
87.16
97.98
91.58
93.48
96.01
.11
.84
2.42
.37
1.91
100.11
99.16
97.58
99.63
98.09
16.93
2.02
8.42
6.52
6.15
83.18
97.14
89.16
93.11
91.94
9.12
7.49
9.99
9.15
11.02
10.06
8.13
11.14
10.10
12.42
CORPORATION
$100.00
INSURANCE
13,437
FDIC District
District 1 .......................................
District 2 .......................................
District 3 .......................................
District 4 .......................................
DEPOSIT
United States— to ta l...................
FEDERAL
Number
of
banks
7.53
10.92
10.16
9.56
2.34
92.47
89.08
89.84
90.44
97.66
2.55
1.36
10.70
2.27
5.77
97.45
98.64
89.30
97.73
94.23
7.69
10.92
10.82
9.66
2.58
89.76
87.72
78.48
88.07
91.65
12.43
8.67
11.94
8.64
11.31
14.27
9.55
13.60
9.49
12.89
M ichigan........................................
M innesota......................................
M ississippi.....................................
M issouri.........................................
M ontana........................................
424
643
195
580
111
100.00
100.00
100.00
100.00
100.00
17.10
5.24
21.32
3.57
4.91
82.90
94.76
78.68
96.43
95.09
.57
.77
1.84
1.41
1.16
99.43
99.23
98.16
98.59
98.84
17.19
5.63
23.07
3.57
5.01
82.24
93.60
75.09
95.02
93.83
8.13
9.37
11.57
8.24
9.43
8.89
10.42
13.15
9.03
10.44
N ebraska........................................
N e v a d a ...........................................
New Hampshire...........................
New Jersey....................................
New M exico..................................
363
11
56
352
40
100.00
100.00
100.00
100.00
100.00
5.76
.35
1.55
18.88
8.25
94.24
99.65
98.45
81.12
91.75
1.73
1.72
6.83
9.70
3.39
98.27
98.28
93.17
90.30
96.61
5.76
.35
1.61
34.97
8.25
92.51
97.93
91.56
55.33
88.36
10.56
7.11
14.97
9.78
8.25
11.85
7.69
17.66
10.91
9.00
New Y o r k ......................................
N orth Carolina.............................
N orth D a k ota ...............................
O h io.................................................
Oklahom a......................................
725
219
150
680
382
100.00
100.00
100.00
100.00
100.00
2.14
7.22
14.96
13.86
2.64
97.86
92.78
85.04
86.14
97.36
3.92
.82
5.15
2.15
1.58
96.08
99.18
94.85
97.85
98.42
3.38
7.22
15.01
15.18
2.64
92.70
91.96
79.84
82.67
95.78
9.05
10.08
11.07
10.47
10.95
10.20
11.31
12.50
11.80
12.33
Oregon............................................
Pennsylvania................................
R hode Isla n d ................................
South Carolina.............................
South D a k ota ...............................
69
1,045
16
113
164
100.00
100.00
100.00
100.00
100.00
1.99
3.35
1.73
8.29
14.99
98.01
96.65
98.27
91.71
85.01
.94
6.23
6.06
1.25
2.56
99.06
93.77
93.94
98.75
97.44
1.99
3.46
1.73
8.31
14.99
97.07
90.31
92.21
90.44
82.45
7.92
13.48
11.48
9.77
11.24
8.70
15.70
13.08
10.86
12.73
Tennessee.......................................
T exa s...............................................
U ta h ................................................
V erm on t.........................................
Virginia...........................................
288
780
54
72
308
100.00
100.00
100.00
100.00
100.00
12.69
7.00
7.46
23.35
5.62
87.31
93.00
92.54
76.65
94.38
2.85
1.34
.06
12.13
2.32
97.15
98.66
99.94
87.87
97.68
13.47
7.36
7.46
23.35
5.64
83.68
91.30
92.48
64.52
92.04
10.29
10.12
10.57
15.72
11.78
11.55
11.30
11.86
18.71
13.47
W ashington...................................
W est Virginia................................
W isconsin.......................................
W yom in g.......................................
130
174
557
58
100.00
100.00
100.00
100.00
4.74
4.70
18.08
7.73
95.26
95.30
81.92
92.27
1.63
4.41
3.52
1.74
98.37
95.59
96.48
98.26
4.74
4.70
18.08
7.73
93.63
90.89
78.40
90.53
8.69
13.14
10.04
11.34
9.56
15.19
11.20
12.82
N o te :
BANKS
1 B ook value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.
2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
amount of liabilities not shown on the books.
OF INSURED
100.00
100.00
100.00
100.00
100.00
OF EXAMINATIONS
372
144
59
174
185
ANALYSIS
K e n tu ck y.......................................
Louisiana.......................................
M a in e.............................................
M arylan d .......................................
M assachusetts..............................
For banks included and explanation of terms, see pages 85-88.
Back figures— See the Annual Report for 1939, page 156.
167
APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN
168
Table 129.
1940
BANKS GROUPED B Y NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
Total assets
Cash and
due from
banks
Appraised value
B ook
value
Examiners’
deductions
(net)1
Total
N ot
criticized
Examiners’
d eductions
(net)1
Total
Sub
standard
N ot
criticized
13,437 65,184,983
219,099 64,965,884
(In thousands of dollars)
2,552,494 62,413,390 23,308,292 22,758,101
59,756 22,698,345
1,038,854 21,659,491
Banks with net sound
capital per $100 of
appraised
value
of
assets of—
$0.00 or less..............................
$0.01 to $4.99..........................
$5.00 to $ 9.9 9..........................
45,514
7
224,855
49
2,872 40,421,990
6,508
39,006
220,908
3,947
107,814 40,314,176
11,811
27,195
5,822
14,479
13,947
206,961
93,250
69,315
1,197,754 39,116,422 15,007,769 14,555,596
1,815
12,664
758
68,557
28,018 14,527,578
9,240
3,424
64,961
3,596
480,553 14,047,025
$10.00 to $14.99 ......................
$15.00 to $19.99......................
$20.00 to $24.99......................
6,112 19,294,834
2,829 3,215,533
1,032 1,154,850
84,082 19,210,752
24,680 3,190,853
7,618 1,147,232
325
131
80
600,671
188,700
38,036
5,1SU
10,756
340
605,805
199,456
37,696
47,908
26,937
6,224
557,897
172,519
31,472
6,734,246
888,642
366,202
6,406,201
1,017,418
360,621
30,524
10,129
2,733
6,375,677
1,007,289
357,888
361,925
104,502
30,222
6,013,752
902,787
327,666
156,460
46,724
9,177
260,987
63,362
10,122
3,070
11,236
85
264,057
74,598
10,037
32,307
18,977
3,348
231,750
55,621
6,689
Banks with fixed and
substandard assets per
$100 of appraised value
of assets of—
$ 0.0 0 ...........................................
$0.01 to $ 4.9 9 ..........................
$5.00 to $ 9.9 9 ..........................
151,958
46
5,022 38,381,252
4,481 17,920,714
712
152,670
40,242 38,341,010
66,095 17,854,619
152,670
60,578
51,228
587,196 37,753,814 15,423,852 13,603,860
850,709 17,003,910 5,685,292 6,098,448
577
51,805
12,449 13,591,411
17,071 6,081,377
51,805
304,435 13,286,976
338,563 5,742,814
$10.00 to $14.99 ......................
$15.00 to $19.99 ......................
$20.00 to $24.99 ......................
2,116
1,005
418
4,976,693
2,206,340
787,948
46,513
35,453
947
4,930,180
2,170,887
787,001
458,864
297,013
151,488
4,471,316
1,873,874
635,513
1,292,284
519,849
192,313
1,730,602
788,690
251,115
17,012
12,732
6,852
1,713,590
775,958
257,967
163,115
111,093
62,654
1,550,475
664,865
195,313
$25.00 to $29.99 ......................
$30.00 to $34.99......................
$35.00 or m ore.........................
200
75
74
377,921
197,895
184,262
10,806
9,414
10,341
367,115
188,481
173,921
88,519
54,980
63,725
278,596
133,501
110,196
73,727
32,286
28,111
112,327
74,645
47,186
3,346
2,792
1,783
108,981
71,853
45,403
24,148
18,847
15,999
84,833
53,006
29,404
CORPORATION
$25.00 to $29.99......................
$30.00 to $34.99......................
$35.00 or m ore.........................
880,613 18,330,139
268,970 2,921,883
98,330 1,048,902
INSURANCE
All banks......................................
DEPOSIT
Sub
standard
Appraised value
B ook
value
FEDERAL
Number
of
banks
Securities
B a n k s w ith 3 -y ea r a ver
a ge n e t cu r r e n t o p e r
a tin g e a rn in g s p er $100
o f to ta l assets o f —
$-0.50 or less............................
$-0.01 to $ -0 .4 9 ......................
to
to
to
to
$0.49...........................
$0.99...........................
$1.49...........................
$1.99...........................
8,700
88,293
997 15,826,550
4,094 33,974,109
4,605 11,504,438
2,305 2,807,545
507
1,821
8,193
86,472
32,433 15,794,117
114,655 33,859,454
70,410 11,434,028
7,512 2,800,033
1,572
4,732
6,621
81,740
2,529
37,385
2,034
23,893
356,496 15,437,621 6,862,936 5,294,273
1,242,242 32,617,212 11,830,498 12,461,222
680,753 10,753,275 3,556,351
3,928,104
769,949
196,232 2,603,801
851,922
46
538
12,942 5,281,331
30,060 12,431,162
27,377 3,900,727
20
851,942
6,164
108,359
323,463
18
216
1,358
6,146
108,143
322,105
533
8,839
24,364
5,613
99,304
297,741
700,739
1,073,289
1,696,744
5,387
9,058
14,310
695,352
1,064,231
1,682,434
56,923
79,417
128,207
638,429
984,814
1,554,227
51,684
12,458
6,140
185
579,197
196,538
122,692
14,693
168,971
47,332
27,023
5,318
141,962
36,118
14,245
4,328
11,170
4
w ith d e p o sits o f —
or less........................
to $250,000..............
to $500,000..............
385
2,230
3,086
40,042
495,548
1,319,249
496
3,281
5,920
39,546
492,267
1,313,329
3,562
34,425
77,598
35,984
457,842
1,235,731
12,722
143,831
385,044
$500,000 to $1,000,000..........
$1,000,000 to $2,000,000___
$2,000,000 to $5,000,000___
3,022
2,169
1,483
2,516,437
3,532,751
5,199,079
13,388
24,470
34,437
2,503,049
3.508,281
5,164,642
147,111
213,548
328,152
2,355,938
3,294,733
4,836,490
737,272
1,049,379
1,571,118
224,956 3,787,903 1,276,041
1,321,076
419,091 9,025,271
3,298,016 3,101,276
1,104,051 37,383,498 14,834,869 14,426,991
8,106 1,312,970
1,216 3,102,492
22,519 14,404,472
82,682 1,230,288
144,927 2,957,565
512,962 13,891,510
OF INSURED
BANKS
169
23,518 4,012,859
32,252 9,444,362
81,337 38,487,549
OF EXAMINATIONS
1
630,881
208,996
128,832
14,878
516 4,036,377
418 9,476,614
128 38,568,886
174,243 5,107,088
477,213 11,953,949
268,929 3,631,798
767,489
84,453
127,707
31,292
12,559
4,263
9,326
644
397
46
$5,000,000 to $10,000,000. . .
$10,000,000 to $50,000,000. .
M ore than $50,000,000..........
1,692
21,654
25,425
4,822
1,708
64
621,555
209,640
129,229
14,924
B anks
$100,000
$100,000
$250,000
296
1,701
153,132
36,114
14,267
4,327
848
299
194
19
$2.00 to $2.49...........................
$2.50 to $2.99...........................
$3.00 or m ore............................
N ot available............................
1,988
23,355
ANALYSIS
$0.00
$0.50
$1.00
$1.50
17
59
A p p r a is a l o f A s s e t s OF In s u r e d C o m m e rcia l B a n k s E xam in ed in
170
Table 129.
1940— Continued
BANKS GROUPED B Y NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
Loans, discounts, and overdrafts
Appraised value
B ook
value
Examiners’
deductions
(net)1
Total
Sub
standard
Appraised value
N ot
criticized
Book
Value
112,990
16,924,352
1,053,724
Banks with net sound
capital account per
$100 of appraised value
of assets of—
$0.00 or less..............................
$0.01 to $4.99..........................
$5.00 to $ 9.9 9..........................
7
49
2,872
18,187
53,672
9,723,402
2,614
1,896
55,899
15,573
51,776
9,667,503
4,549
7,183
514,281
11,024
44,593
9,153,222
7,026
8,618
1,135,223
$10.00 to $14.99 ......................
$15.00 to $19.99......................
$20.00 to $24.99 ......................
6,112
2,829
1,032
5,493,788
1,141,520
358,368
40,439
9,304
3,452
5,453,349
1,132,216
354,916
370,240
103,443
37,085
5,083,109
1,028,773
317,831
$25.00 to $29.99 ......................
$30.00 to $34.99......................
$35.00 or m ore.........................
325
131
80
164,631
67,767
16,007
1,151
407
130
165,782
67,360
15,877
11,482
3,754
1,707
Banks with fixed and
substandard assets per
$100 o f appraised value
of assets of—
$ 0.0 0 ...........................................
$0.01 to $ 4.9 9..........................
$5.00 to $ 9.9 9 ..........................
46
5,022
4,481
39,583
8,598,506
5,415,909
18
25,027
35,932
39,565
8,573,479
5,379,977
$10.00 to $ 14.99 ......................
$15.00 to $19.99 ......................
$20.00 to $24.99......................
2,116
1,005
418
1,688,780
737,899
275,716
21,298
14,577
4,697
$25.00 to $29.99......................
$30.00 to $34.99......................
$35.00 or m ore.........................
200
75
74
151,232
63,509
66,208
4,610
3,105
3,726
46,353
I
N ot
j criticized
2,034,895
459,916
1,574,979
2,079
1,293
23,897
4,947
7,325
1,111,326
3,838
3,168
202,920
1,109
4,157
908,406
660,599
167,953
69,659
13,119
5,247
1,433
647,480
162,706
68,226
148,448
61,025
31,023
499,032
101,681
37,203
154,300
63,606
14,170
18,593
10,847
2,730
913
73
125
19,506
10,774
2,605
4,119
4,206
1,169
15,387
6,568
1,436
222,189
377,414
39,565
8,351,290
5,002,563
569
755,034
721,065
153
2,766
13,092
752,268
707,973
60,572
134,732
691,696
573,241
1,667,482
723,322
271,019
205,273
116,551
52,066
1,462,209
606,771
218,953
265,027
159,902
68,804
8,203
8,144
3,102
256,824
151,758
65,702
90,476
69,369
36,768
166,348
82,389
28,934
146,622
60,404
62,482
39,181
18,970
22,080
107,441
41,434
40,402
40,635
27,455
42,757
2,850
3,517
4,832
37,785
23,938
37,925
25,190
17,163
25,646
12,595
6,775
12,279
799
7 99
CORPORATION
17,037,342
Sub
standard
INSURANCE
13,437
Total
DEPOSIT
(In thousandis of dollars)
15,870,628
2,081,248
All banks......................................
Examiners’
deductions
(net)1
FEDERAL
Number
of
banks
Fixed and miscellaneous assets
B an ks w ith 3 -yea r a ver
age n e t c u r r e n t o p e r
a tin g ea rn in g s p er $100
o f t o ta l assets o f—
$-0.50 or less
........................
$-0.01 to $ -0.4 9 ........................
106
515
2,335
22,067
310
1,515
2,025
20,552
1,696
4,433
355
768
1,341
3,665
966
1,516
375
2,149
$ 0.4 9 ..........................
$ 0.9 9 ..........................
$ 1 .4 9 ..........................
$ 1.9 9 ..........................
997
4,094
4,605
2,305
3,274,273
8,553,988
3,609,242
1,088,277
13,120
59,150
31,199
6,315
3,261,153
8,494,838
3,578,043
1,081,962
111,310
534,418
292,654
83,526
3,149,843
7,960,420
3,285,389
998,436
395,068
1,128,401
410,741
97,397
6,371
25,445
11,834
1,217
388,697
1,102,956
398,907
96,180
70,943
230,611
119,170
28,253
317,754
872,345
279,737
67,927
$2.00 to $ 2 .4 9 ..........................
$2.50 to $ 2.9 9 ..........................
$3.00 or m ore...........................
N ot available............................
848
299
194
19
290,919
105,704
84,995
4,921
1,614
596
344
31
289,305
105,108
84,651
4,890
19,787
6,573
3,532
99
269,518
98,535
81,119
4,791
19,703
20,486
2,966
357
230
44
75
14
19,473
20,442
2,891
343
6,472
1,063
900
22
13,001
19,379
1,991
321
w ith d e p o sits o f —
or less........................
to $250,000..............
to $500,000..............
385
2,230
3,086
19,388
228,331
572,561
322
2,136
3,381
19,066
226,195
569,180
2,400
21,340
43,099
16,666
204,855
526,081
1,768
15,027
38,181
156
929
1,181
1,612
14,098
37,000
629
4,246
10,135
983
9,852
26,865
$500,000 to $1,000,000..........
$ 1, 000,000 to $2 ,000,000 ___
$2,000,000 to $5,000,000___
3,022
2,169
1,483
1,000,316
1,283,919
1,723,204
5,894
10,137
13,173
994,422
1,273^782
1,710,031
70,058
98,022
134,914
924,364
1,175,760
1,575,117
78,110
126,164
208,013
2,107
5,275
6,954
76,003
120,889
201,059
20,130
36,109
65,031
55,873
84,780
136,028
516
418
128
1,266,521
2,661,226
8,281,876
.10,447
19,621
47,879
1,256,074
2,641,605
8,233,997
91,564
162,112
430,215
1,164,510
2,479,493
7,803,782
172,739
416,096
1,025,150
4,965
13,847
10,939
167,774
402,249
1,014,211
50,710
112,052
160,874
117,064
290,197
853,337
$0.00
$0.50
$1.00
$1.50
to
to
to
to
B an k s
$100,000
$100,000
$250,000
$5,000,000 to $10,000,000. . .
$10,000,000 to $50,000,000. .
More than $50,000,000..........
N ote:
For banks included and explanation of terms, see pages 85-87.
Back figures— See the Annual R eport for 1939, pages 158-61.
BANKS
differ from examiners’ net deductions from total
OF INSURED
_ fig u r e s in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total
capital accounts b y the inclusion in the latter of liabilities not shown on the books.
OF EXAMINATIONS
2,441
22,582
ANALYSIS
17
59
Table 130.
ASSET RATIOS OF INSURED COMMERCIAL BANKS EXAMINED IN
1940
tO
BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
Number
of
banks
Cash and
due from
banks
Appraised value
B ook
value
Examiners’
deductions
(net)1
Sub
standard
N ot
criticized
Appraised value
B ook
value
63.81
93.72
96.51
.48
1.00
.76
99.52
99.00
99.24
5.65
10.27
8.38
93.87
88.73
90.86
100.00
100.00
100.00
*1.18
217.73
.84
2101.18
2117.73
99.16
12.38
29.95
33.08
88.80
87.78
66.08
100.00
100.00
100.00
100.00
100.00
100.00
1.13
.09
.28
101.13
99.91
99.72
2.24
5.55
101.13
97.67
94.17
89.85
84.93
80.65
100.00
100.00
100.00
100.00
100.00
100.00
.98
1.61
22.73
99.02
98.39
2102.73
9.43
14.09
24.95
89.59
84.30
77.78
73.72
67.46
59.81
100.00
100.00
100.00
100.00
100.00
100.00
2.98
3.74
3.78
97.02
96.26
96.22
21.50
25.25
33.91
75.52
71.01
62.31
100.00
100.00
100.00
100.00
100.00
100.00
92.87
91.42
82.75
100.00
100.00
100.00
1.53
4.75
100.47
98.37
94.88
99.07
98.39
299.88
9.22
13.46
19.23
97.14
95.24
94.39
23.42
27.78
34.58
25.95
6.20
2.96
59.75
92.04
96.77
100.00
100.00
100.00
.44
.77
.66
99.56
99.23
99.34
4.56
8.36
8.51
95.00
90.87
90.83
100.00
100.00
100.00
2.85
*5.70
.89
2100.85
2105.70
99.11
7.98
14.28
16.36
46
5,022
4,481
100.00
100.00
100.00
.10
.37
100.47
99.90
99.63
$10.00 to $14.99......................
$15.00 to $19.99......................
$20.00 to $24.99......................
2,116
1,005
418
100.00
100.00
100.00
.93
1.61
*.12
$25.00 to $29.99......................
$30.00 to $34.99......................
$35.00 or m ore.........................
200
75
74
100.00
100.00
100.00
2.86
4.76
5.61
14.30
1.76
.27
6,112
2,829
1,032
100.00
100.00
100.00
$25.00 to $29.99......................
$30.00 to $34.99......................
$35.00 or m ore.........................
325
131
80
B a n k s w ith fixed a n d
s u b sta n d a rd assets per
$100 o f a p p ra ised va lu e
o f assets o f —
$0 00
.
.............
$0.01 to $4.99..........................
$5.00 to $9.99..........................
7
49
2,872
$10.00 to $14.99......................
$15.00 to $19.99......................
$20.00 to $24.99......................
$
$
CORPORATION
23.65
5.19
3.30
12.54
1.09
.19
85.70
98.24
99.73
100.00
100.00
100.00
B a n k s w ith n e t s o u n d
ca p ita l p er $100 o f
a p p ra ised
va lu e
of
assets o f —
$0.00 or less..............................
$0.01 to $4.99..........................
$5.00 to $ 9.99...........................
$
INSURANCE
87.46
98.91
99.81
100.00
100.00
100.00
$100.00
$
N ot
criticized
$ 95.18
$100.00
$100.00
Sub
standard
4.56
$ 99.74
$ 95.74
$ 99.66
13,437
Total
0.26
3.92
0.34
A ll b a n k s ......................................
Examiners’
deductions
(net)1
DEPOSIT
Total
FEDERAL
Per $100 of securities (book value)
Per $100 of total assets (book value)
B an k s w ith 3 -y ea r a ver
a ge n e t c u r r e n t o p e r
a tin g ea rn in g s p er $100
o f to ta l assets o f —
$-0.50 or le s s ............................
$-0.01 to $-0.49 ........................
5.83
2.06
94.17
97.94
18.07
5.36
76.10
92.58
100.00
100.00
100.00
100.00
2.26
2.25
97.74
97.75
14.55
7.12
83.19
90.63
$0.49...........................
$0.99...........................
$1.49..........................
$1.9 9 ...........................
997
4,094
4,605
2,305
100.00
100.00
100.00
100.00
.20
.34
.61
.27
99.80
99.66
99.39
99.73
2.25
3.66
5.92
6.99
97.55
96.00
93.47
92.74
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.24
.24
.70
2.00
99.76
99.76
99.30
2100.00
3.29
3.83
6.85
9.91
96.47
95.93
92.45
90.09
$2.00 to $2.49...........................
$2.50 to $2.99...........................
$3.00 or m ore............................
N ot available............................
848
299
194
19
100.00
100.00
100.00
100.00
21.50
.31
.31
.31
2101.50
99.69
99.69
99.69
8.32
5.94
4.75
1.24
93.18
93.75
94.94
98.45
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
27.87
.01
.15
.02
2107.87
99.99
100.15
99.98
17.91
13.35
11.99
1.48
89.96
86.64
88.16
98.50
w ith d e p o sits o f —
or less........................
to $250,000..............
to $500,000..............
385
2,230
3,086
100.00
100.00
100.00
1.24
.66
.45
98.76
99.34
99.55
8.90
6.95
5.88
89.86
92.39
93.67
100.00
100.00
100.00
100.00
100.00
100.00
.29
.20
.42
99.71
99.80
99.58
8.65
8.16
7.53
91.06
91.64
92.05
$500,000 to $1,000,000..........
$1,000,000 to $2,000,000___
$2,000,000 to $5,000,000___
3,022
2,169
1,483
100.00
100.00
100.00
.53
.69
.66
99.47
99.31
99.34
5.85
6.04
6.31
93.62
93.27
93.03
100.00
100.00
100.00
100.00
100.00
100.00
.77
.84
.84
99.23
99.16
99.16
8.12
7.40
7.56
91.11
91.76
91.60
$5,000,000 to $10,000,000. . .
$10,000,000 to $50,000,000. .
M ore than $50,000,000..........
516
418
128
100.00
100.00
100.00
.58
.34
.21
99.42
99.66
99.79
5.57
4.42
2.86
93.85
95.24
96.93
100.00
100.00
100.00
100.00
100.00
100.00
.61
*.ou
.16
99.39
2100.04
99.84 |
6.26
4.67
3.56
93.13
95.37
96.28
$0.00
$0.50
$1.00
$1.50
to
to
to
to
B an k s
$100,000
$100,000
$250,000
OF INSURED
BANKS
OF EXAMINATIONS
100.00
100.00
ANALYSIS
17
59
-3
C
O
Table 130.
A s s e t R a t io s o f In s u r e d C o m m ercia l B a n k s E xam in ed in
BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED
and
1940— Continued
SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
imber
of
anks
Per $100 of fixed and miscellaneous assets (book value)
Appraised value
B ook
value
$100.00
7
49
2,872
$10.00 to $14.99......................
$15.00 to $19.99......................
$20.00 to $24.99......................
$ 99.34
100.00
100.00
100.00
14.37
3.53
.57
6,112
2,829
1,032
100.00
100.00
100.00
$25.00 to $29.99......................
$30.00 to $34.99......................
$35.00 or m ore.........................
325
131
80
B an k s w ith fixed a n d
s u b sta n d a rd assets per
$100 o f a p p ra ised va lu e
o f assets o f—
$ 0.0 0 ...........................................
$0.01 to $ 4.99..........................
$5.00 to $9.99..........................
$
N ot
criticized
6.18
$ 93.16
$100.00
85.63
96.47
99.43
25.01
13.38
5.29
60.62
83.09
94.14
.74
.82
.96
99.26
99.18
99.04
6.74
9.06
10.35
100.00
100.00
100.00
2.70
.60
.81
2100.70
99.40
99.19
46
5,022
4,481
100.00
100.00
100.00
.05
.29
.66
$10.00 to $14.99......................
$15.00 to $19.99......................
$20.00 to $24.99......................
2,116
1,005
418
100.00
100.00
100.00
$25.00 to $29.99......................
$30.00 to $34.99......................
$35.00 or m ore.........................
200
75
74
100.00
100.00
100.00
$
Total
|
Sub
standard
N ot
criticized
2.23
$ 97.77
$ 22.10
$ 75.67
100.00
100.00
100.00
29.59
15.00
2.11
70.41
85.00
97.89
54.63
36.76
17.87
15.78
48.24
80.02
92.52
90.12
88.69
100.00
100.00
100.00
1.99
3.12
2.06
98.01
96.88
97.94
22.47
36.33
44.54
75.54
60.55
53.40
6.97
5.54
10.66
93.73
93.86
88.53
100.00
100.00
100.00
H.91
.67
4.58
2104.91
99.33
95.42
22.15
38.78
42.82
82.76
60.55
52.60
99.95
99.71
99.34
2.58
6.97
99.95
97.13
92.37
100.00
100.00
100.00
26.89
.37
1.82
126.89
99.63
98.18
8.02
18.69
126.89
91.61
79.49
1.26
1.98
1.70
98.74
98.02
98.30
12.16
15.79
18.88
86.58
82.23
79.42
100.00
100.00
100.00
3.10
5.09
4.51
96.90
94.91
95.49
34.14
43.38
53.44
62.76
51.53
42.05
3.05
4.89
5.63
96.95
95.11
94.37
25.91
29.87
33.35
71.04
65.24
61.02
100.00
100.00
100.00
7.01
12.81
11.30
92.99
87.19
88.70
61.99
62.51
59.98
31.00
24.68
28.72
CORPORATION
0.66
$
Sub
standard
Examiners’
deductions
(net)1
INSURANCE
13,437
B an k s w ith n e t sou n d
ca p ita l p er $100 o f
o f a p p ra ised va lu e o f
assets o f—
$0.00 or less..............................
$0.01 to $ 4.99..........................
$5.00 to $9.99..........................
Total
Appraised value
Book
value
DEPOSIT
A ll b a n k s ......................................
Examiners’
deductions
(net)1
FEDERAL
Per $100 of loans (book value)
Banks with 3-year aver
age net current oper
ating earnings per $100
of total assets of—
$-0.50 or le s s ............................
$-0.01 to $ -0.4 9 ........................
4.34
2.28
95.66
97.72
12.70
6.71
82.96
91.01
100.00
100.00
20.93
17.32
79.07
82.68
56.96
34.20
22.11
48.48
$0.4 9 ...........................
$0.9 9 ...........................
$1.4 9 ...........................
$1.9 9 ...........................
997
4,094
4,605
2,305
100.00
100.00
100.00
100.00
.40
.69
.86
.58
99.60
99.31
99.14
99.42
3.40
6.25
8.11
7.68
96.20
93.06
91.03
91.74
100.00
100.00
100.00
100.00
1.61
2.25
2.88
1.25
98.39
97.75
97.12
98.75
17.96
20.44
29.01
29.01
80.43
77.31
68.11
69.74
$2.00 to $2.4 9 ...........................
$2.50 to $2.9 9 ...........................
$3.00 or m ore............................
N ot available............................
848
299
194
19
100.00
100.00
100.00
100.00
.55
.56
.40
.63
99.45
99.44
99.60
99.37
6.80
6.22
4.16
2.01
92.65
93.22
95.44
97.36
100.00
100.00
100.00
100.00
1.17
.21
2.53
3.92
98.83
99.79
97.47
96.08
32.85
5.19
30.34
6.16
65.98
94.60
67.13
89.92
Banks with deposits of—
$100,000 or less........................
$100,000 to $250,000..............
$250,000 to $500,000..............
385
2,230
3,086
100.00
100.00
100.00
1.66
.94
.59
98.34
99.06
99.41
12.38
9.35
7.53
85.96
89.71
91.88
100.00
100.00
100.00
8.82
6.18
3.09
91.18
93.82
96.91
35.58
28.26
26.54
55.60
65.56
70.37
$500,000 to $1,000,000..........
$1,000,000 to $2,000,000___
$2,000,000 to $5,000,000___
3,022
2,169
1,483
100,00
100.00
100.00
.59
.79
.76
99.41
99.21
99.24
7.00
7.63
7.83
92.41
91.58
91.41
100.00
100.00
100.00
2.70
4.18
3.34
97.30
95.82
96.66
25.77
28.62
31.26
71.53
67.20
65.40
100.00
100.00 !
100.00
.82
.74
.58
99.18
99.26
99.42
7.23
6.09
5.19
91.95
93.17
94.23
100.00
100.00
100.00
2.87
3.33
1.07
97.13
96.67
98.93
29.36
26.93
15.69
67.77
69.74
83.24
$0.00
$0.50
$1.00
$1.50
to
to
to
to
$5,000,000 to $10,000,000. . .
$10,000,000 to $50,000,000. .
M ore than $50,000,000..........
516
418
128
N ote:
For banks included and explanation of terms, see pages 85-87.
Pack figures— See the Annual R eport for 1939, pages 162-65.
BANKS
OF INSURED
1 Figures m italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total assets differ fro n examiners’ net deductions from total
capital accounts by the inclusion in the latter of liabilities not shown on the books.
2 For explanation of the apparent irregularity in this item, see pages 87-88.
OF EXAMINATIONS
100.00
100.00
ANALYSIS
17
59
Or
A P PR A IS A L OF ASSETS OF INSURED COMMERCIAL B A N K S E X A M IN ED IN
1940
176
Table 131.
BANKS GROUPED B Y FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE
(Amounts in thousands of dollars)
Securities
Total assets
Examiners’
deductions
(net)1
Total
487 3,632,309
1,119 23,348,412
1,725 8,643,825
1,010 2,975,415
29,201 3,603,108
94,176 23,254,236
52,653 8,591,172
7,443 2,967,972
District
District
District
District
5 ...................................
6 ...................................
7 ...................................
8 ...................................
977
1,450
1,458
1,409
2,296,295
3,149,391
3,884,243
6,126,766
7,103
6,055
7,230
3,389
2,303,398
3,143,336
3,877,013
6,123,377
District
District
District
District
9 ...................................
1 0 .................................
1 1 .................................
1 2 .................................
1,068
1,393
832
509
1,415,832
1,768,446
1,956,099
5,987,950
1,762
3,183
2,707
18,403
State
A labam a....................................
A rizon a......................................
Arkansas....................................
California..................................
C olorado....................................
209
12
210
197
139
380,877
99,407
216,753
4,749,784
391,978
C onnecticut..............................
D elaware....................................
District of C olum bia..............
F lorida........................................
G eorgia......................................
99
42
22
162
267
Id a h o..........................................
Illinois........................................
Indiana ......................................
Io w a ............................................
K ansas........................................
48
823
477
586
451
2,552,494 62,413,390 23,308,292 22,758,101
Total
59,756 22,698,345
Sub
standard
N ot
criticized
1,038,854 21,659,491
173,707 3,429,401
789,995 22,464,241
629,143 7,962,029
100,245 2,867,727
1,309,689
9,114,402
2,704,278
1,050,607
985,204
8,705,303
3,254,396
869,603
6,725
34,007
20,389
2,602
978,479
8,671,296
3,234,007
867,001
68,645
378,028
286,782
38,702
909,834
8,293,268
2,947,225
828,299
87,369
120,725
123,042
142,375
2,216,029
3,022,611
3,753,971
5,981,002
896,759
1,135,920
1,322,456
2,299,268
626,102
928,264
1,471,205
2,392,821
10,6 hi
859
3,332
1+00
636,743
927,405
1,467,873
2,393,221
34,124
49,676
46,185
65,216
602,619
877,729
1,421,688
2,328,005
1,414,070
1,765,263
1,953,392
5,969,547
24,464
36,137
34,519
290,773
1,389,606
1,729,126
1,918.873
5,678,774
451,504
734,346
850,986
1,438,077
461,616
458,506
476,991
2,128,090
163
167
273
2,614
461,453
458,673
476,718
2,125,476
9,786
6,896
9,762
45,052
451,667
451,777
466,956
2,080,424
1,405
114
496
17,294
646
379,472
99,293
216,257
4,732,490
391,332
19,343
1,642
6,275
270,855
6,840
360,129
97,651
209,982
4,461,635
384,492
136,292
35,100
91,413
1,019,705
198,492
101,871
27,045
54,500
1,730,200
94,103
265
65
125
2,191
111
101,606
26,980
54,375
1,728,009
94,214
3,734
436
2,447
39,092
2,676
97,872
26,544
51,928
1,688,917
91,538
629,566
245,659
433,954
503,804
579,215
4,432
1,606
1,182
793
10,1+83
625,134
244,053
432,772
503,011
589,698
38,341
14,542
12,094
11,187
30,689
586,793
229,511
420,678
491,824
559,009
213,850
89,029
157,285
222,836
210,526
183,353
83,196
134,978
159,142
111,203
692
1,012
545
406
11,31+6
182,661
82,184
134,433
158,736
122,549
8,255
7,502
3,935
5,230
17,925
174,406
74,682
130,498
153,506
104,624
107,853
5,380,830
1,036,443
745,936
404,695
17
3,158
2,528
230
845
107,870
5,377,672
1,033,915
745,706
403,850
944
117,644
41,911
24,732
9,799
106,926
5,260,028
992,004
720,974
394,051
32,213
2,069,413
337,905
229,855
150,765
39,790
2,211,058
371,200
181,764
108,562
21
50
875
1+1+8
68
39,769
2,211,008
370,325
182,212
108,630
297
60,483
13,986
4,732
848
39,472
2,150,525
356,339
177,480
107,782
CORPORATION
219,099 64,965,884
N ot
criticized
Examiners’
deductions
(net)1
INSURANCE
13,437 65,184,983
FDIC District
D istrict 1 ...................................
District 2 ...................................
District 3 ...................................
District 4 ...................................
Sub
standard
Appraised value
B ook
value
DEPOSIT
United States— to ta l...............
Cash and
due from
banks
Appraised value
B ook
value
FEDERAL
N um ber
of
banks
551,907
601,094
230,924
752,583
2,230,149
1,736
692
3,253
1,499
15,303
550,171
600,402
227,671
751,084
2,214,846
27,184
13,662
17,772
23,853
81,361
522,987
586,740
209,899
727,231
2,133,485
179,893
240,445
68,728
261,927
886,961
141,296
185,389
77,765
298,666
548,208
311
34
1,043
789
2,718
140,985
185,355
76,722
297,877
545,490
7,977
2,754
8,380
11,483
37,112
133,008
182,601
68,342
286,394
508,378
M ichigan....................................
M innesota..................................
M ississippi.................................
M issouri.....................................
M on tana....................................
424
643
195
580
111
1,757,751
1,049,500
231,304
1,746,429
165,932
757
740
489
1,959
180
1,756,994
1,048,760
230,815
1,744,470
165,752
28,827
16,210
12,490
57,065
2,619
1,728,167
1,032,550
218,325
1,687,405
163,133
626,064
325,798
86,660
642,600
69,711
682,086
351,793
68,497
587,509
54,048
352
43
1
161
27
681,734
351,750
68,498
587,348
54,021
10,844
7,445
4,482
30,231
841
670,890
344,305
64,016
557,117
53,180
N ebraska....................................
N e v a d a ......................................
New Hampshire.......................
N ew Jersey................................
N ew M ex ico..............................
363
11
56
352
40
366,365
47,505
103,042
2,028,863
68,161
643
58
1,118
19,290
197
365,722
47,447
101,924
2,009,573
67,964
7,975
397
5,168
157,739
1,065
357,747
47,050
96,756
1,851,834
66,899
128,909
15,402
28,940
581,243
23,735
103,834
16,179
32,806
772,756
19,078
6
36
544
3,796
3
103,828
16,143
32,262
768,960
19,081
1,124
184
2,897
51,391
100
102,704
15,959
29,365
717,569
18,981
New Y o r k ..................................
North C arolina........................
North D a k ota ..........................
O h io............................................
Oklahom a..................................
725 21,073,890
219
534,095
150
86,844
680 2,812,751
529,272
382
617,713 20,382,897
13,573
520,104
3,057
83,271
107,874 2,699,075
9,795
518,574
8,444,131
192,767
24,796
941,614
225,934
7,849,350
155,046
24,841
904,440
134,608
29,200
103
27
2,133
5
7,820,150
154,943
24,814
902,307
134,603
319,135
7,250
706
41,661
2,069
7,501,015
147,693
24,108
860,646
132,534
69
1,045
16
113
164
Tennessee , , , , ..........................
T exas..........................................
U ta h ............................................
V erm on t.....................................
Virginia................................
W ashington...............................
West Virginia...........................
W isconsin..................................
W yom in g...................................
342,937
5,784,222
300,652
172,863
113,231
4,399
521,268
13,733
2,631
2,579
338,538
5,262,954
286,919
170,232
110,652
117,792
1,762,665
83,222
79,255
31,199
121,211
2,349,957
103,043
36,002
30,934
55
18,256
536
73
66
121,156
2,331,701
102,507
35,929
30,868
1,153
245,123
6,603
1,552
794
120,003
2,086,578
95,904
34,377
30,074
288
780
54
72
308
634,302
1,864
1,788,531
2,396
173,148
135,749 ........ 2,868
721,608
2,004
632,438
1,786,135
173,148
132,881
719,604
30,200
31,812
2,408
17,332
26,986
602,238
1,754,323
170,740
115,549
692,618
222,014
792,151
61,814
27,988
226,897
144,960
430,868
47,658
40,028
166,894
262
211
21
1,191
483
144,698
430,657
47,637
38,837
166,411
9,022
9,225
542
5,398
8,141
135,676
421,432
47,095
33,439
158,270
130
174
557
58
566,465
360,132
1,090,048
76,136
565,655
357,971
1,086,104
75,990
11,770
21,107
52,304
1,728
553,885
336,864
1,033,800
74,262
191,151
132,475
358,486
30,246
173,052
78,018
417,918
17,398
288
609
2,106
1
172,764
77,409
415,812
17,397
3,786
6,341
21,353
177
168,978
71,068
394,459
17,220
810
2,161
3,944
146
BANKS
177
257
46,853
2,228
180
326
343,194
5,831,075
302,880
173,043
113,557
OF INSURED
O regon........................................
Pennsylvania............................
Rhode Island ............................
South Carolina.........................
South D a k ota...........................
73,280 21,000,610
418
533,677
516
86,328
5,802 2,806,949
903
528,369
OF EXAMINATIONS
372
144
59
174
185
ANALYSIS
K en tu ck y..................................
L ouisiana...................................
M ain e.........................................
M aryland..................................
M assachusetts..........................
A P PR A IS A L OF ASSETS OF INSURED COMMERCIAL B A N K S E XA M IN ED IN
1940— Continued
178
Table 131.
BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE
(Amounts in thousands of dollars)
Fixed and miscellaneous assets
Loans, discounts, and overdrafts
Appraised value
Appraised value
B ook
value
Examiners’
deductions
(net)1
Total
Sub
j standard
N ot
criticized
B ook
value
Examiners’
deductions
(net)1
Total
Sub
standard
N ot
criticized
16,924,352
1,053,724
15,870,628
2,081,248
46,353
2,034,895
459,916
1,574,979
487
1,119
1,725
1,010
1,190,377
4,834,242
2,291,041
951,145
16,974
40,032
22,994
3,580
1,173,403
4,794,210
2,268,047
947,565
73,344
272,430
200,521
42,136
1,100,059
4,521,780
2,067,526
905,429
147,039
694,465
394,110
104,060
5,502
20,137
9,270
1,261
141,537
674,328
384,840
102,799
31,718
139,537
141,840
19,407
109,819
534,791
243,000
83,392
District
District
District
District
5 ...................................
6 ...................................
7 ...................................
8 ...................................
977
1,450
1,458
1,409
690,166
993,218
996,325
1,332,735
2,682
4,092
2,596
3,091
687,484
989,126
993,729
1,329,644
32,816
54,090
55,983
60,833
654,668
935,036
937,746
1,268,811
83,268
91,989
94,257
101,942
856
1,104
1,302
698
82,412
90,885
92,955
101,244
20,429
16,959
20,874
16,326
61,983
73,926
72,081
84,918
District
District
District
District
9 ...................................
1 0 .................................
1 1 .................................
1 2 .................................
1,068
1,393
832
509
467,220
535,872
568,298
2,186,703
1,151
2,815
2,190
10,793
466,069
533,057
566,108
2,175,910
11,823
26,880
18,742
204,126
454,246
506,177
547,366
1,971,784
35,492
39,722
59,824
235,080
448
535
244
4,996
35,044
39,187
59,580
230,084
2,855
2,361
6,015
41,595
32,189
36,826
53,565
188,489
S tate
A labam a....................................
A rizona......................................
Arkansas....................................
California..................................
C olorado....................................
209
12
210
197
139
124,203
33,702
65,819
1,794,989
93,308
740
49
273
10,136
674
123,463
33,653
65,546
1,784,853
92,634
9,984
624
2,942
192,073
3,734
113,479
33,029
62,604
1,592,780
88,900
18,511
3,560
5,021
204,890
6,075
400
98
4,967
83
18,111
3,560
4,923
199,923
5,992
5,625
582
886
39,690
430
12,486
2,978
4,037
160,233
5,562
C onnecticut..............................
D elaware...................................
District of Colum bia..............
F lorida.......................................
Georgia......................................
99
42
22
162
267
203,478
67,840
118,876
106,115
235,804
2,645
354
471
253
650
200,833
67,486
118,405
105,862
235,154
18,639
5,534
4,913
3,690
7,560
182,194
61,952
113,492
102,172
227,594
28,885
5,594
22,815
15,711
21,682
1,095
240
166
134
213
27,790
5,354
22,649
15,577
21,469
11,447
1,506
3,246
2,267
5,204
16,343
3,848
19,403
13,310
16,265
Id a h o..........................................
Illinois........................................
Indiana......................................
Io w a ............................................
Kansas.......................................
48
823
477
586
451
33,408
1,013,030
297,160
319,705
134,819
23
2,086
1,110
1,005
741
33,431
1,010,944
296,050
318,700
134,078
554
42,633
18,872
18,200
7,788
32,877
968,311
277,178
300,500
126,290
2,442
87,329
30,178
14,612
10,549
15
1,022
543
327
172
2,457
86,307
29,635
14,939
10,377
93
14,528
9,053
1,800
1,163
2,364
71,779
20,582
13,139
9,214
CORPORATION
112,990
INSURANCE
17,037,342
D is tr ic t
1 ...................................
2 ...................................
3 ...................................
4 ...................................
DEPOSIT
13,437
F D IC
District
District
District
District
U n ite d S ta tes— t o t a l ...............
FEDERAL
Number
of
banks
1 ,1 3 0
698
1 ,6 4 1
630
9 ,8 6 4
2 1 3 ,7 0 0
1 5 5 ,1 6 4
7 6 ,3 8 8
1 7 1 ,5 5 6
7 0 0 ,6 6 6
1 4 ,9 9 4
5 ,5 6 2
6 ,8 8 5
9 ,4 6 6
3 3 ,1 4 3
1 9 8 ,7 0 6
1 4 9 ,6 0 2
6 9 ,5 0 3
1 6 2 ,0 9 0
6 6 7 ,5 2 3
1 5 ,8 8 8
1 9 ,3 9 8
6 ,4 0 2
1 9 ,8 0 4
8 4 ,4 5 0
569
80
2 ,7 2 1
1 5 ,5 9 3
1 9 ,4 3 8
5 ,8 3 3
1 9 ,7 2 4
8 1 ,7 2 9
4 ,2 1 3
5 ,3 4 6
2 ,5 0 7
2 ,9 0 4
1 1 ,1 0 6
1 1 ,3 8 0
1 4 ,0 9 2
3 ,3 2 6
1 6 ,8 2 0
7 0 ,6 2 3
M ichigan............
M innesota..........
M ississippi.........
M issouri.............
M on tana.............
424
643
195
580
111
4 1 5 ,3 8 2
3 4 7 ,6 3 5
6 8 ,1 8 2
4 6 9 ,3 1 2
3 8 ,0 4 4
399
554
341
1 ,2 4 9
124
4 1 4 ,9 8 3
3 4 7 ,0 8 1
6 7 ,8 4 1
4 6 8 ,0 6 3
3 7 ,9 2 0
1 3 ,7 0 0
7 ,1 1 6
6 ,0 2 0
1 9 ,9 1 6
1 ,4 7 4
4 0 1 ,2 8 3
3 3 9 ,9 6 5
6 1 ,8 2 1
4 4 8 ,1 4 7
3 6 ,4 4 6
3 4 ,2 1 9
2 4 ,2 7 4
7 ,9 6 5
4 7 ,0 0 8
4 ,1 2 9
6
143
149
549
29
3 4 ,2 1 3
2 4 ,1 3 1
7 ,8 1 6
4 6 ,4 5 9
4 ,1 0 0
4 ,2 8 3
1 ,6 4 9
1 ,9 8 8
6 ,9 1 8
304
2 9 ,9 3 0
2 2 ,4 8 2
5 ,8 2 8
3 9 ,5 4 1
3 ,7 9 6
N ebraska............
N e v a d a ...............
New Hampshire
New Jersey........
New M e x ic o .. . .
363
11
56
352
40
1 2 4 ,5 1 8
1 4 ,5 7 2
3 8 ,1 7 4
5 5 5 ,3 6 3
2 4 ,1 3 1
498
20
419
8 ,1 6 4
205
1 2 4 ,0 2 0
1 4 ,5 5 2
3 7 ,7 5 5
5 4 7 ,1 9 9
2 3 ,9 2 6
6 ,3 1 2
196
1 ,8 6 5
6 3 ,8 7 9
899
1 1 7 ,7 0 8
1 4 ,3 5 6
3 5 ,8 9 0
4 8 3 ,3 2 0
2 3 ,0 2 7
9 ,1 0 4
1 ,3 5 2
3 ,1 2 2
1 1 9 ,5 0 1
1 ,2 1 7
139
2
155
7 ,3 3 0
5
8 ,9 6 5
1 ,3 5 0
2 ,9 6 7
1 1 2 ,1 7 1
1 ,2 2 2
539
17
406
4 2 ,4 6 9
66
8 ,4 2 6
1 ,3 3 3
2 ,5 6 1
6 9 ,7 0 2
1 ,1 5 6
New Y o r k ..........
N orth Carolina.
N orth D akota. .
O h io.....................
Oklahom a...........
725
219
150
680
382
4 ,2 1 1 ,0 3 9
1 7 2 ,2 0 9
3 3 ,6 5 1
8 6 1 ,9 6 8
1 5 6 ,2 2 6
3 1 ,5 1 5
269
308
2 ,0 5 6
779
4 ,1 7 9 ,5 2 4
1 7 1 ,9 4 0
3 3 ,3 4 3
8 5 9 ,9 1 2
1 5 5 ,4 4 7
2 0 3 ,0 1 6
3 ,8 6 6
1 ,7 8 1
4 0 ,5 8 1
7 ,5 5 7
3 ,9 7 6 ,5 0 8
1 6 8 ,0 7 4
3 1 ,5 6 2
8 1 9 ,3 3 1
1 4 7 ,8 9 0
5 6 9 ,3 7 0
1 4 ,0 7 3
3 ,5 5 6
1 0 4 ,7 2 9
1 2 ,5 0 4
1 2 ,5 6 5
46
181
1 ,6 1 3
119
5 5 6 ,8 0 5
1 4 ,0 2 7
3 ,3 7 5
1 0 3 ,1 1 6
1 2 ,3 8 5
9 5 ,5 6 2
2 ,4 5 7
570
2 5 ,6 3 2
169
4 6 1 ,2 4 3
1 1 ,5 7 0
2 ,8 0 5
7 7 ,4 8 4
1 2 ,2 1 6
O regon................
Pennsylvania. . .
Rhode Island . . .
South C arolin a..
South D a k o ta ...
69
1 ,0 4 5
16
113
164
9 5 ,1 9 8
1 ,4 2 9 ,0 7 3
9 9 ,5 9 0
5 3 ,9 8 7
4 7 ,8 9 0
172
2 0 ,9 3 9
1 ,2 8 6
44
166
9 5 ,0 2 6
1 ,4 0 8 ,1 3 4
9 8 ,3 0 4
5 3 ,9 4 3
4 7 ,7 2 4
2 ,7 5 6
1 5 9 ,9 3 9
4 ,5 8 4
683
1 ,4 5 1
9 2 ,2 7 0
1 ,2 4 8 ,1 9 5
9 3 ,7 2 0
5 3 ,2 6 0
4 6 ,2 7 3
8 ,9 9 3
2 8 9 ,3 8 0
1 7 ,0 2 5
3 ,7 9 9
3 ,5 3 4
30
7 ,6 5 8
406
63
94
8 ,9 6 3
2 8 1 ,7 2 2
1 6 ,6 1 9
3 ,7 3 6
3 ,4 4 0
490
1 1 6 ,2 0 6
2 ,5 4 6
396
334
8 ,4 7 3
1 6 5 ,5 1 6
1 4 ,0 7 3
3 ,3 4 0
3 ,1 0 6
Tennessee...........
Texas
U ta h ....................
V erm ont.............
Virginia...............
288
780
54
72
308
2 4 3 ,2 5 7
5 1 0 ,4 6 5
5 9 ,1 4 5
6 0 ,5 7 6
3 0 0 ,6 1 1
1 ,4 4 0
1 ,9 3 5
1 6 ,2 3 8
1 7 ,2 2 0
1 ,4 1 9
8 ,2 2 8
1 3 ,9 9 2
2 2 5 ,5 7 9
4 9 1 ,3 1 0
5 7 ,7 3 9
5 1 ,2 2 9
2 8 5 ,3 1 3
2 4 ,0 7 1
5 5 ,0 4 7
4 ,5 3 1
7 ,1 5 7
2 7 ,2 0 6
162
250
1 ,1 1 9
1 ,3 0 6
2 4 1 ,8 1 7
5 0 8 ,5 3 0
5 9 ,1 5 8
5 9 ,4 5 7
2 9 9 ,3 0 5
558
215
2 3 ,9 0 9
5 4 ,7 9 7
4 ,5 3 9
6 ,5 9 9
2 6 ,9 9 1
4 ,9 4 0
5 ,3 6 7
447
3 ,7 0 6
4 ,8 5 3
1 8 ,9 6 9
4 9 ,4 3 0
4 ,0 9 2
2 ,8 9 3
2 2 ,1 3 8
Washington
W est V irgin ia ...
W isconsin...........
W y o m in g ...........
130
174
557
58
1 8 9 ,3 8 9
1 3 3 ,2 7 6
2 8 3 ,7 8 3
2 7 ,0 0 3
501
859
1 ,0 8 6
123
1 8 8 ,8 8 8
1 3 2 ,4 1 7
2 8 2 ,6 9 7
2 6 ,8 8 0
7 ,1 2 5
9 ,2 1 7
2 3 ,4 1 3
1 ,4 9 1
1 8 1 ,7 6 3
1 2 3 ,2 0 0
2 5 9 ,2 8 4
2 5 ,3 8 9
1 2 ,8 7 3
1 6 ,3 6 3
2 9 ,8 6 1
1 ,4 8 9
21
693
752
22
1 2 ,8 5 2
1 5 ,6 7 0
2 9 ,1 0 9
1 ,4 6 7
859
5 ,5 4 9
7 ,5 3 8
60
1 1 ,9 9 3
1 0 ,1 2 1
2 1 ,5 7 1
1 ,4 0 7
13
N ote:
F o r b a n k s in c lu d e d a n d e x p la n a t i o n o f t e r m s , se e p a g e s 8 5 - 8 8 .
uo
8
differ from examiners’ net deductions from total
BANKS
1 Figures in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total
capital accounts b y the inclusion in the latter of liabilities not shown on the books.
295
OF INSURED
2 1 4 ,8 3 0
1 5 5 ,8 6 2
7 8 ,0 2 9
1 7 2 ,1 8 6
7 1 0 ,5 3 0
OF EXAMINATIONS
372
144
59
174
185
ANALYSIS
K en tu ck y...........
Louisiana...........
M a in e.................
M arylan d...........
Massachusetts. .
Bach figures— See the Annual Report for 1939, pages 166-69.
-3
T a b le 132.
A SS E T R ATIO S OF INSURED COMMERCIAL B A N K S E X A M IN ED IN 1940
BANKS GROUPED B Y FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE
Per $100 of securities (book value)
Per $100 of total assets (book value)
Cash and
due from
banks
Appraised value
B ook
value
Examiners’
deductions
(net)1
Total
Sub
standard
N ot
criticized
Appraised value
B ook
value
1.70
.09
.23
.02
101.70
99.91
99.77
100.02
5.45
5.35
3.14
2.73
96.25
94.56
96.63
97.29
100.00
100.00
100.00
100.00
.04
.04
.06
.12
99.96
100.04
99.94
99.88
2.12
1.50
2.05
2.12
97.84
98.54
97.89
97.76
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.26
.24
.23
.13
.12
99.74
99.76
99.77
99.87
100.12
3.67
1.61
4.49
2.26
2.84
96.07
98.15
95.28
97.61
97.28
93.21
93.43
96.94
97.62
96.51
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.38
1.22
.40
.26
10.20
99.62
98.78
99.60
99.74
110.20
4.50
9.02
2.92
3.29
16.12
95.12
89.76
96.68
96.45
94.08
99.14
97.75
95.72
96.65
97.37
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.05
.00
.24
.25
.06
99.95
100.00
99.76
100.25
100.06
.75
2.74
3.77
2.60
.78
99.20
97.26
95.99
97.65
99.28
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
98.15
97.78
98.10
94.83
100.00
100.00
100.00
100.00
5.08
1.65
2.90
5.70
1.74
94.55
98.24
96.87
93.94
98.10
99.30
99.35
99.73
99.84
101.81
6.09
5.92
2.79
2.22
5.30
100.02
99.94
99.76
99.97
99.79
.88
2.19
4.04
3.32
2.42
94.42
96.22
92.11
96.38
100.00
100.00
100.00
100.00
.31
.19
.19
.06
100.31
99.81
99.81
99.94
3.80
3.83
3.17
2.32
96.51
95.98
96.64
97.62
100.00
100.00
100.00
100.00
.12
.18
.14
.31
99.88
99.82
99.86
99.69
1.73
2.04
1.76
4.86
209
12
210
197
139
100.00
100.00
100.00
100.00
100.00
.37
.11
.23
.36
.16
99.63
99.89
99.77
99.64
99.84
C onnecticu t..............................
Delaware....................................
District of Colum bia..............
Florida........................................
G eorgia......................................
99
42
22
162
267
100.00
100.00
100.00
100.00
100.00
.70
.65
.27
.16
1.81
Id a h o..........................................
Illinois........................................
Indiana......................................
Io w a ............................................
Kansas........................................
48
823
477
586
451
100.00
100.00
100.00
100.00
100.00
.02
.06
.24
.03
.21
977
1,450
1,458
1,409
100.00
100.00
100.00
100.00
9 ...................................
1 0 .................................
1 1 .................................
1 2 .................................
1,068
1,393
832
509
State
A labam a....................................
A rizon a......................................
Arkansas....................................
C alifornia..................................
C olorado....................................
District
District
District
District
5 ...................................
6 ...................................
7 ...................................
8 ...................................
District
District
District
District
$
CORPORATION
92.35
95.27
90.56
95.25
4.78
3.38
7.28
3.37
.80
.40
.61
.25
$
INSURANCE
6.97
4.34
8.81
4.45
.68
.39
.63
.30
99.20
99.60
99.39
99.75
100.00
100.00
100.00
100.00
437
1,119
1,725
1,010
$
DEPOSIT
99.32
99.61
99.37
99.70
100.00
100.00
100.00
100.00
$100.00
$
N ot
criticized
$ 95.18
$100.00
$100.00
Sub
standard
4.56
$ 99.74
$ 95.74
$ 99.66
13,437
FDIC District
District 1 ...................................
District 2 ...................................
District 3 ...................................
District 4 ...................................
Total
0.26
3.92
0.34
United States— to ta l...............
Examiners’
deductions
(net)1
FEDERAL
Num ber
of
banks
M ichigan............
M innesota..........
Mississippi.........
M issouri.............
M on tana............
424
643
195
580
111
N ebraska............
N e v a d a ...............
N ew Hampshire
N ew Jersey........
N ew M e x ic o .. ..
4.93
2.27
7.70
3.17
3.65
94.76
97.61
90.89
96.63
95.66
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.22
.02
1.34
.26
.50
99.78
99.98
98.66
99.74
99.50
5.65
1.49
10.78
3.84
6.77
94.13
98.49
87.88
95.90
92.73
100.00
100.00
100.00
100.00
100.00
99.96
99.93
99.79
99.89
99.89
1.64
1.54
5.40
3.27
1.58
98.32
98.39
94.39
96.62
98.31
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.05
.01
.00
.03
.05
99.95
99.99
100.00
99.97
99.95
1.59
2.12
6.54
5.15
1.56
98.36
97.87
93.46
94.82
98.39
363
11
56
352
40
100.00
100.00
100.00
100.00
100.00
99.82
99.88
98.92
99.05
99.71
2.18
.84
5.02
7.77
1.56
97.64
99.04
93.90
91.28
98.15
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.01
.22
1.66
.49
.02
99.99
99.78
98.34
99.51
100.02
1.08
1.14
8.83
6.65
.52
98.91
98.64
89.51
92.86
99.50
N ew Y o r k ..........
N orth Carolina.
N orth D a k o ta . .
O h io.....................
Oklahom a...........
725
219
150
680
100.00
100.00
100.00
100.00
99.65
99.92
99.41
99.79
2.93
2.54
3.52
3.84
1.85
96.72
97.38
95.89
95.95
97.98
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.37
.07
.11
.24
.00
99.63
99.93
99.89
99.76
100.00
4.07
4.68
2.84
4.61
1.54
95.56
95.25
97.05
95.15
98.46
Oregon................
Pennsylvania. . .
R hode Island . . .
South Carolina.
South D a k ota ..
69
1,045
16
113
164
100.00
100.00
100.00
100.00
100.00
99.93
99.20
99.26
99.90
99.71
1.28
8.94
4.53
1.52
2.27
98.65
90.26
94.73
98.38
97.44
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.05
.78
.52
.20
.21
99.95
99.22
99.48
99.80
99.79
.95
10.43
6.41
4.31
2.57
99.00
88.79
93.07
95.49
97.22
Tennessee...........
T exas...................
U ta h ....................
V erm on t.............
Virginia...............
288
780
54
72
308
99.71
99.87
100.00
97.89
99.72
4.76
1.78
1.3
12.77
3.74
94.95
98.09
98.61
85.12
95.98
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.18
.05
.04
2.98
.29
99.82
99.95
99.96
97.02
99.71
6.22
2.14
1.14
13.49
4.88
93.60
97.81
98.82
83.53
94.83
Washington
W est Virginia. . .
W isconsin...........
W yom in g............
130
174
557
58
99.40
99.64
99.81
2.08
5.86
4.80
2.27
97.78
93.54
94.84
97.54
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
.17
.78
.50
.01
99.83
99.22
99.50
99.99
2.19
8.13
5.11
1.02
97.64
91.09
94.39
98.97
100.00
100.00
100.00
100.00
BANKS
100.00
OF INSURED
99.69
99.88
98.59
99.80
99.31
OF EXAMINATIONS
372
144
59
174
185
ANALYSIS
K en tu ck y...........
Louisiana...........
M a in e.................
M arylan d...........
Massachusetts. .
00
I-*
Table 132.
A s s e t R a tio s
of
In su red
C o m m e r c ia l B a n k s E x a m in e d
in
1940— Continued
BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE
Per $100 of fixed and miscellaneous assets (book value)
Per $100 of loans (book value)
96.26
97.10
97.65
98.79
21.57
20.09
35.99
18.65
74.69
77.01
61.66
80.14
94.86
94.14
94.12
95.21
100.00
100.00
100.00
100.00
1.03
1.20
1.38
.68
98.97
98.80
98.62
99.32
24.53
18.44
22.15
16.01
74.44
80.36
76.47
83.31
2.53
5.01
3.30
9.33
97.22
94.46
96.31
90.18
100.00
100.00
100.00
100.00
1.26
1.35
.41
2.13
98.74
98.65
99.59
97.87
8.04
5.94
10.05
17.69
90.70
92.71
89.54
80.18
99.40
99.85
99.59
99.44
99.28
8.04
1.85
4.47
10.70
4.00
91.36
98.00
95.12
88.74
95.28
100.00
100.00
100.00
100.00
100.00
2.16
1.95
2.42
1.37
97.84
100.00
98.05
97.58
98.63
30.39
16.35
17.65
19.37
7.08
67.45
83.65
80.40
78.21
91.55
1.30
.52
.40
.24
.28
98.70
99.48
99.60
99.76
99.72
9.16
8.16
4.13
3.48
3.21
89.54
91.32
95.47
96.28
96.51
100.00
100.00
100.00
100.00
100.00
3.79
4.29
.73
.85
.98
96.21
95.71
99.27
99.15
99.02
39.63
26.92
14.23
14.43
24.00
56.58
68.79
85.04
84.72
75.02
.07
.21
.37
.31
.55
100.07
99.79
99.63
99.69
99.45
1.66
4.21
6.35
5.69
5.78
98.41
95.58
93.28
94.00
93.67
100.00
100.00
100.00
100.00
100.00
.61
1.17
1.80
2.2U
1.63
100.61
98.83
98.20
102.24
98.37
3.81
16.64
30.00
12.32
11.02
96.80
82.19
68.20
89.92
87.35
.39
.41
.26
.23
99.61
99.59
99.74
99.77
4.75
5.45
5.62
4.56
100.00
100.00
100.00
100.00
.25
.53
.39
.49
99.75
99.47
99.61
99.51
209
12
210
197
139
100.00
100.00
100.00
100.00
100.00
.60
.15
.41
.56
.72
99
42
22
162
267
100.00
100.00
100.00
100.00
100.00
48
823
477
586
451
100.00
100.00
100.00
100.00
100.00
977
1,450
1,458
1,409
100.00
100.00
100.00
100.00
1,068
1,393
832
509
CORPORATION
3.74
2.90
2.35
1.21
92.41
93.53
90.25
95.19
$
INSURANCE
100.00
100.00
100.00
100.00
6.16
5.64
8.75
4.43
$
DEPOSIT
Connecticut
..........................
Delaware
..........................
District of C olum bia..............
N ot
criticized
$ 75.67
98.57
99.17
99.00
99.62
District 1 1 .................................
District 1 2 .................................
Sub
standard
$ 22.10
1.43
.83
1.00
.38
..........................
..........................
..........................
..........................
Total
$ 97.77
100.00
100.00
100.00
100.00
$
Examiners’
deductions
(net)1
2.23
$100.00
District
District
District
District
..........................
..........................
........................
N ot
criticized
$ 93.16
487
1,119
1,725
1,010
Arkansas
California
Colorado
Sub
standard
Book
value
6.18
$100.00
.......................
Total
$ 99.34
13,437
FDIC District
District 1 .................................
District 2 .................................
District 3 .
..........................
District 4
..........................
State
Alabama
Examiners’
deductions
(net)1
0.66
United States— to ta l...............
5
6
7
8
Appraised value
Appraised value
B ook
value
FEDERAL
Num ber
of
banks
.53
.45
2.10
.37
1.39
99.47
99.55
97.90
99.63
98.61
6.98
3.57
8.82
5.50
4.66
92.49
95.98
89.08
94.13
93.95
100.00
100.00
100.00
100.00
100.00
1.86
.21
8.89
.40
3.22
98.14
100.21
91.11
99.60
96.78
26.52
27.56
39.16
14.66
13.15
71.62
72.65
51.95
84.94
83.63
M ichigan....................................
M innesota..................................
Mississippi.................................
M issouri.....................................
M ontana....................................
424
643
195
580
111
100.00
100.00
100.00
100.00
100.00
.10
.16
.50
.27
.33
99.90
99.84
99.50
99.73
99.67
3.30
2.05
8.83
4.24
3.87
96.60
97.79
90.67
95.49
95.80
100.00
100.00
100.00
100.00
100.00
.02
.59
1.87
1.17
.70
99.98
99.41
98.13
98.83
99.30
12.52
6.79
24.96
14.72
7.36
87.46
92.62
73.17
84.11
91.94
N ebraska....................................
N eva d a .......................................
New H ampshire.......................
N ew Jersey................................
N ew M ex ico ..............................
363
11
56
352
40
100.00
100.00
100.00
100.00
100.00
.40
.14
1.10
1.47
.85
99.60
99.86
98.90
98.53
99.15
5.07
1.35
4.89
11.50
3.73
94.53
98.51
94.01
87.03
95.42
100.00
100.00
100.00
100.00
100.00
1.53
.15
4.96
6.13
.hi
98.47
99.85
95.04
93.87
100.41
5.92
1.26
13.00
35.54
5.42
92.55
98.59
82.04
58.33
94.99
N ew Y o r k ..................................
N orth Carolina........................
N orth D a k ota ..........................
O h io.............................................
Oklahom a..................................
725
219
150
680
382
100.00
100.00
100.00
100.00
100.00
.75
.16
.92
.24
.50
99.25
99.84
99.08
99.76
99.50
4.82
2.24
5.29
4.71
4.84
94.43
97.60
93.79
95.05
94.66
100.00
100.00
100.00
100.00
100.00
2.21
.33
5.09
1.54
.95
97.79
99.67
94.91
98.46
99.05
16.78
17.46
16.03
24.47
1.35
81.01
82.21
78.88
73.99
97.70
O regon........................................
Pennsylvania............................
R hode Island ............................
South Carolina.........................
South D a k ota...........................
69
1,045
16
113
164
100.00
100.00
100.00
100.00
100.00
.18
1.47
1.29
.08
.35
99.82
98.53
98.71
99.92
99.65
2.90
11.19
4.60
1.27
3.03
96.92
87.34
94.11
98.65
96.62
100.00
100.00
100.00
100.00
100.00
.33
2.65
2.38
1.66
2.66
99.67
97.35
97.62
98.34
97.34
5.45
40.16
14.95
10.42
9.45
94.22
57,19
82.67
87.92
87.89
Tennessee...................................
T exas..........................................
U ta h ............................................
V erm on t.....................................
Virginia......................................
288
780
54
72
308
100.00
100.00
100.00
100.00
100.00
.59
.38
.02
1.85
.43
99.41
99.62
100.02
98.15
99.57
6.68
3.37
2.40
13.58
4.65
92.73
96.25
97.62
84.57
94.92
100.00
100.00
100.00
100.00
100.00
.67
.45
.18
7.80
.79
99.33
99.55
100.18
92.20
99.21
20.52
9.75
9.87
51.78
17.84
78.81
89.80
90.31
40.42
81.37
W ashington...............................
W est Virginia............................
W isconsin................................
W yom in g...................................
130
174
557
58
100.00
100.00
100.00
100.00
.26
.64
.38
.46
99.74
99.36
99.62
99.54
3.76
6.92
8.25
5.52
95.98
92.44
91.37
94.02
100.00
100.00
100.00
100.00
.16
4.24
2.52
1.48
99.84
95.76
97.48
98.52
6.67
33.91
25.24
4.03
93.17
61.85
72.24
94.49
N ote:
For banks included and explanation of terms, see pages 85-88.
Back figures— See the Annual Report for 1939, pages 170-73.
Examiners’ net deductions from total assets differ from examiners’ net deductions from total
BANKS
1
Figures in italics represent excess of appraised value of assets over book value.
capital accounts b y the inclusion in the latter of liabilities not shown on the books.
OF INSURED
100.00
100.00
100.00
100.00
100.00
OF EXAMINATIONS
372
144
59
174
185
ANALYSIS
K en tu cky...................................
Louisiana...................................
M a in e.........................................
M arylan d...................................
M assachusetts..........................
Table 133.
DISTRIBUTION OF INSURED COMMERCIAL BANKS EXAMINED IN
1940 ACCORDING TO NET SOUND CAPITAL RATIO
BANKS GROUPED B Y FIX E D AND SUBSTANDARD ASSETS RATIO, RATE OP AVERAGE NET EARNINGS, AND AMOUNT OF DEPOSITS
A ll b a n k s .............................................................
13,437
$5.00
to
$9.99
$0.01
to
$4.99
$0.00
or
less
7
$10.00
to
$14.99
$25.00
to
$29.99
$20.00
to
$24.99
$15.00
to
$19.99
$30.00
to
$34.99
184
Banks with net sound capital per $100 of appraised value of assets of—
All
banks
$35.00
or
more
2,872
6,112
2,829
1,032
325
131
80
2
14
4
13
1,518
829
17
2,291
2,188
11
799
978
1
271
318
82
113
2
28
38
19
13
2,116
1,005
418
2
4
5
5
294
114
59
970
408
141
523
288
1.30
220
126
49
63
30
16
20
23
12
20
11
6
$25.00 to $29.99..............................................
$30 00 to $34 99
$35.00 or m ore.................................................
200
75
74
2
1
2
6
3
6
19
11
15
69
19
9
60
21
19
24
14
9
12
4
5
5
2
1
3
B an k s w ith 3-year average n e t c u r
r e n t o p e r a tin g ea rn in g s p er $100
o f to ta l assets o f—
$-0.50 or less
.........................................
$-0 01 to $-0 49
..........................
17
59
16
6
26
5
7
3
3
1
5
1
1
1
1
14
20
9
5
387
1,300
860
240
369
1,903
2,281
1,047
137
619
995
636
55
175
333
259
20
50
86
70
8
21
24
33
5
4
15
14
51
9
8
1
336
82
53
9
265
105
57
3
117
51
35
1
45
26
18
4
18
17
8
16
9
15
1
$ 0.49..................................................
$ 0.99..................................................
$1.49..................................................
$ 1.99..................................................
997
4,094
4,605
2,305
$2.00 to $2.49 ................................................
$2.50 to $2.99 ................................................
$3.00 or more ...............................................
N ot available
..
.................
848
299
194
19
$0.00
$0.50
$1.00
$1.50
to
to
to
to
B anks
$100 000
$100,000
$250 000
2
2
2
1
8
w ith d ep osits o f —
or less
..................................
to $250,000.....................................
to $500,000 ...................................
385
2,230
3,086
2
1
3
5
8
76
366
31
650
1,681
86
863
745
102
446
206
73
128
50
47
41
19
37
21
14
$500,000 to $1,000,000..................................
$1 000 000 to $2 000 000
$2|000|000 to $5i000i000..............................
3,022
2,169
1,483
2
2
4
13
11
728
622
503
1,549
1,103
720
539
330
195
145
74
36
43
19
10
9
6
3
3
$5 000 000 to $10 000 000 ............................
$10 000 000 to $50 000 000
Mrvrp than $^0 000 000
516
418
128
5
7
230
250
89
215
128
35
45
25
1
17
4
2
1
1
3
3
1
N ote :
For banks included and explanation of terms, see pages 85-87.
Back figures—See the Annual
Report for 1939, page 174.
5
CORPORATION
$10.00 to $14.99..............................................
$15.00 to $19.99..............................................
$20.00 to $24.99..............................................
INSURANCE
46
5,022
4,481
DEPOSIT
B an k s w ith fixed a n d su b sta n d a rd
assets p er $100 o f a p p ra ised valu e
o f assets o f—
SO 00
$0.01 to $ 4.99..................................................
$5.00 to $9.99..................................................
FEDERAL
49
Table 134.
D IS TR IB U TIO N OF DE PO SITS OF INSURED COMMERCIAL B A N K S E X A M IN ED IN
1940
ACCORDING TO N E T SOUND CAPITA L R A T IO
BANKS GROUPED B Y FIXE D AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS, AND AMOUNT OF DEPOSITS
Banks with net sound capital per $100 of appraised value of assets of—
All
banks
57,919,547
39,348
$0.01
to
$4.99
$5.00
to
$9.99
$10.00
to
$14.99
$15.00
to
$19.99
(In thousands of dollars)
16,815,905
2,627,307
36,739,600
6,966
144,299
11,501
93,263
26,014,976
8,563,389
19,292
7,423,060
5,826,105
$25.00
to
$29.99
$30.00
to
$34.99
$35.00
888,543
443,984
134,811
20,340
6,482
638,908
806,267
767
267,305
233,819
25,123
348,855
7,012
17,478
7,835
3,270
4,496
Banks with fixed and substandard
assets per $ 1 0 0 of appraised value
of assets of—
$ 0 . 0 0 ..........................
$ 0 .0 1 to $ 4 . 9 9 .....................
$ 5.00 to $ 9 .9 9 ............................................! ! ! ! ! !
$ 1 0 .0 0
$ 1 5 .0 0
$ 2 0 .0 0
to
to
to
$ 2 5 .0 0
$ 3 0 .0 0
$ 3 5 .0 0
to $ 2 9 . 9 9 .......................................................
to $ 3 4 . 9 9 .......................................................
or more.............................................
$ 1 4 . 9 9 ................................
$ 1 9 . 9 9 ................................
$ 2 4 . 9 9 ............................................] . . .
to
to
to
to
1,430
9,025
6,490
7,762
1,256,510
573,165
116,624
2,319,615
838,198
224,048
507,743
319,587
203,057
156,084
106,406
44,777
21,951
18,368
11,404
33,334
14,461
47,521
3,875
1,860
695
304,333
166,752
134,004
3,415
30,751
3,752
12,941
2,861
7,864
33,212
41,278
47,183
113,398
38,973
13,216
70,963
37,349
36,951
49,114
11,771
18,500
11,871
3,666
2,746
7,011
103
56
2,408
28,219
1,636
34,318
2,129
4,309
2,199
6,035
98
2,283
263
65
191
233
75,396
110,799
14,929
8,352
10,128,346
22,039,288
4,127,182
338,403
3,897,012
7,037,949
4,448,301
1,064,011
125,708
857,385
1,058,093
397,206
65,094
251,679
336,263
164,993
9,038
22,841
42,447
346,201
1,611
3,307
8,603
16,870
294
1,003
5,214
4,289
46,096
21,703
5,037
5,326
219,189
54,870
52,775
5,844
121,498
39,802
20,596
581
36,975
13,144
11,612
549
11,088
4,020
5,293
675
77,156
24,879
2,057
2,048
3,308
3,911
82
6,516
75,462
$ 0 . 4 9 .............................................................
$ 0 . 9 9 .............................................................
$ 1 . 4 9 .............................................................
$ 1 . 9 9 ............................................................
14,307,125
30,357,336
10,042,462
2,340,532
to $ 2 . 4 9 .............................................................
to $ 2 . 9 9 ............................................................
or more...............................................
Not available...............................................
514,050
161,726
101,281
13,057
$ 1 0 0 ,0 0 0
$ 1 0 0 ,0 0 0
$ 2 5 0 ,0 0 0
Banks with deposits of—
or less...........................................
to $ 2 5 0 , 0 0 0 ............................................
to $ 5 0 0 , 0 0 0 ............................................
29,149
405,134
1,123,739
$ 5 0 0 ,0 0 0 to $ 1 , 0 0 0 , 0 0 0 .......................................
$ 1 , 0 0 0 , 0 0 0 to $ 2 , 0 0 0 , 0 0 0 ..................................
$ 2 , 0 0 0 , 0 0 0 to $ 5 , 0 0 0 , 0 0 0 ..................................
2,169,338
3,060,390
4,530,855
$ 5 , 0 0 0 , 0 0 0 to $ 1 0 , 0 0 0 , 0 0 0 ...............................
$ 1 0 , 0 0 0 , 0 0 0 to. $ 5 0 , 0 0 0 , 0 0 0 .............................
More than $ 5 0 , 0 0 0 , 0 0 0 .......................................
3,538,555
8,458,526
34,603,861
$ 0 .0 0
$ 0 .5 0
$ 1 .0 0
$ 1 .5 0
$ 2 .0 0
$ 2 .5 0
$ 3 .0 0
N ote:
4,626
33,085
1,430
207
367
94
604
1,849
607
21,542
143,825
2,693
124,638
612,204
6,704
155,353
266,242
8,331
72,867
70,204
5,509
20,080
18,122
3,230
6,401
6,436
1,981
3,282
4,857
2,798
18,726
31,363
538,855
897,145
1,593,809
1,102,263
1,542,962
2,134,248
382,526
459,901
608,752
101,635
103,667
110,250
32,166
27,008
30,918
5,707
8,629
8,805
3,388
2,352
5,878
1,586,139
5,503,622
26,454,056
1,476,049
2,234,267
7,586,581
301,812
388,937
57,080
118,314
101,909
201,366
5,403
30,751
32,178
122,097
18,660
76,943
For banks included and explanation of terms, see pages 85-87.
Back figures— See the Annual R eport for 1939, page 175.
3,736
304,778
BANKS
4,309,567
1,878,535
655,888
OF INSURED
Banks with 3-year average net cur
rent operating^earnings per $ 1 0 0
of total assets of—
$ - 0 . 5 0 or less...............................................
$ - 0 . 0 1 to $ - 0 . 4 9 .........................................................
133,782
34,534,419
15,802,267
OF EXAMINATIONS
209,709
$20.00
to
$24.99
ANALYSIS
A ll banks.........................................................
$0.00
6,832
00
Cn
ANALYSIS OF EXAM IN ATIO N S OF INSURED COMMERCIAL BANKS EXAM IN ED BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 135.
N et
Sound
C A P IT A L R A T IO S OF INSURED COMMERCIAL B A N K S EXA M IN ED BY THE F EDERAL D E P O SIT INSURANCE
C o r p o r a t i o n 7, 1933-1940
2?
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
All
banks
$100,000
to
$250,000
$250,000
to
$500,000
$500,000
to
$1,000,000
$1,000,000
to
$2,000,000
$2,000,000
to
$5,000,000
$5,000,000 $10,000,000 More than
to
$50,000,000
to
$10,000,000 $50,000,000
(2)
N E T SOUND C A P IT A L P E R $100 O F:
$13.96
18.06
17.74
17.34
16.72
16.89
17.08
16.80
16.76
$10.42
14.95
15.06
14.50
13.51
13.28
13.48
13.55
13.36
$8.44
12.94
13.66
14.07
13.06
12.50
12.88
12.63
12.50
$7.90
13.06
13.86
14.04
12.61
12.10
12.50
12.24
11.80
$9.30
12.61
13.08
14.07
12.83
11.87
12.27
11.89
11.61
$9..95
12.90
13.47
$14.22
13.62
12.15
12.56
12.29
11.98
1938 uniform5...............................................
1939
.................................................
1940................................................................
11.15
15.80
16.58
17.09
15.33
14.64
14.81
14.30
13.90
31.82
34.46
33.52
31.59
31.30
31.70
32.13
33.10
32.97
17.18
22.51
21.87
21.21
20.29
20.54
20.82
20.28
20.24
12.17
17.94
17.96
17.09
15.72
15.39
15.66
15.75
15.48
9.80
15.19
16.05
16.57
15.17
14.38
14.89
14.54
14.36
9.17
15.41
16.39
16.58
14.56
13.90
14.43
14.06
13.50
10.62
14.84
15.36
16.59
14.85
13.59
14.11
13.58
13.23
11..52
15.13
16.10
17.29
16.17
13.99
14.53
14.17
13.78
T o t a l c a p ita l a c c o u n ts
31933
.....................................................
41934
........................................................
1935
.........................................
1936
...............................................
1937
.................................................
1938 original5...............................................
1938 uniform5...............................................
193 9
194 0
45.12
67.17
76.51
90.92
92.25
87.78
88.83
90.69
93.62
68.99
80.63
83.80
85.77
87.52
88.08
89.27
91.62
94.84
60.11
81.11
87.54
92.65
91.83
91.50
92.71
94.16
95.95
52.06
77.29
86.40
95.17
94.73
91.32
92.90
94.46
96.82
40.73
70.13
82.76
94.54
93.17
87.90
90.98
93.14
95.47
37.71
67.33
77.16
90.62
90.51
85.36
88.58
90.26
92.69
42.34
62.69
71.80
89.28
90.59
83.70
86.89
88.98
91.74
44..00
61.53
69.38
87.49
86.81
83.44
86.65
90.97
92.52
D e p o s its
31933 ..............................................................
41934
...................................................
1935
..................................
1936
.......................................
1937
...........................................
1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.
#
2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
* Examination for admission to insurance in late 1933 and early 1934.
6 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.
N ote :
For banks included and explanation of terms, see pages 85-87.
$14.12
12.57
12.53
12.41
11.37
11.29
$2.56
6.15
10.22
12.56
10.72
10.82
9.12
9.68
9.27
16.91
14.92
14.67
14.51
13.14
13.02
2.64
6.64
11.47
14.58
12.18
12.35
10.22
10.82
10.33
86.20
94.09
86.54
85.60
85.88
91.16
19.57
43.90
66.17
97.12
101.50
106.94
88.47
93.16
96.49
CORPORATION
$22.77
25.07
24.66
23.78
23.50
23.74
23.98
24.61
24.58
INSURANCE
$9.62
13.38
13.98
14.38
13.12
12.64
12.77
12.40
12.09
DEPOSIT
A p p ra ised va lu e o f assets
31933................................................................
41934 ..............................................................
1935
...................................................
1936
.....................................................
1937
.....................................................
1938 original5...............................................
1938 uniform5...............................................
1939
......................................................
1940................................................................
FEDERAL
$100,000
or
less
Table 136.
T otal A sset R atios op I nsured Commercial B anks E xamined by the F ederal D eposit I nsurance C orporation,
1933-1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
$100,000
or
less
$100,000
to
$250,000
$250,000
to
$500,000
$500,000
to
$1,000,000
$1,000,000
to
$2,000,000
$2,000,000
to
$5,000,000
$5,000,000 $10,000,000 More than
to
to
$50,000,000
$10,000,000 $50,000,000
(2)
P E R $100 OF B O O K V A L U E :
$8.48
4.69
2.46
1.36
1.45
1.50
1.28
1.00
.67
$8.74
5.24
2.32
.73
.80
1.21
.99
.76
.42
$10.94
5.89
2.77
.81
.96
1.65
1.22
.89
.57
$11.54
6.55
3.94
1.43
1.28
2.01
1.56
1.28
.90
$11.24
7.57
4.88
1.66
1.29
2.23
1.79
1.42
1.02
S u b sta n d a rd assets (ap p raised value)
61933..............................................................
61934..............................................................
71935................................................................
71936................................................................
81937................................................................
1938 original5...............................................
1938 uniform5...............................................
1939................................................................
1940................................................................
19.62
16.21
15.62
12.37
12.75
10.47
8.44
17.80
13.38
13.94
11.83
9.06
14.95
11.93
12.33
9.57
7.51
13.75
10.32
10.68
8.63
6.53
14.84
11.31
11.75
9.09
7.05
15.72
12.25
12.68
10.36
7.86
A ssets n o t c r itic iz e d (a p p ra ised value)
61933................................................................
61934................................................................
71935................................................................
71936................................................................
1937................................................................
1938 original5...............................................
1938 uniform5...............................................
1939................................................................
1940................................................................
76.27
82.37
83.32
85.95
85.72
88.32
90.79
79.03
83.60
83.35
86.09
89.69
83.60
86.57
86.39
89.43
91.82
85.45
88.47
88.33
90.61
93.05
84.20
87.04
87.03
90.02
92.38
83.00
85.74
85.76
88.36
91.24
$11.24
7.89
5.61
$1.99
1.95
2.32
1.86
1.18
.94
$2.21
.65
1.78
1.91
1.69
.92
$9.51
8.11
4.97
.37
*.16
*.71
1.17
.69
.34
16.88
13.56
14.00
11.59
10.06
18.63
14.84
15.24
11.36
9.82
16.90
14.17
14.42
12.95
10.73
10.91
8.27
8.51
6.48
5.03
81.83
84.21
84.21
86.99
88.92
79.42
82.84
82.90
87.46
89.24
82.45
84.05
83.67
85.36
88.35
89.25
92.44
90.32
92.83
94.63
N ote :
For banks included and explanation of terms, see pages 85-87.
187
1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.
* Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
8 Examination for admission to insurance in late 1933 and early 1934.
4 Examiners’ net additions to total assets.
* Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.
* Figures not available.
7 Figures not available b y size of bank.
* Includes all fixed assets.
BANKS
$9.28
6.20
4.55
3.80
3.17
3.02
2.71
2.08
1.25
OF INSURED
$10.47
6.73
4.11
1.42
1.06
1.68
1.53
1.21
.77
OF EXAMINATIONS
E x a m in e rs ’ d e d u c t io n s (n et) fr o m assets
81933................................................................
1934................................................................
1935................................................................
1936................................................................
1937................................................................
1938 original5...............................................
1938 uniform5...............................................
1939................................................................
1940................................................................
ANALYSIS
All
banks
L o a n R a t i o s OF INSURED COMMERCIAL BANKS EXAMINED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION,
1934-1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
188
T able 1 3 7 .
Banks with deposits of— 1
All
banks
$100,000
to
$250,000
$250,000
to
$500,000
$500,000
to
$1,000,000
$1,000,000
to
$2,000,000
$2,000,000
to
$5,000,000
$5,000,000 $10,000,000 M ore than
to
to
$50,000,000
$10,000,000 $50,000,000
(2)
P E R $100 OF B O O K V A L U E :
$6.08
4.64
3.55
2.62
2.08
1.59
1.27
.94
$6.50
4.29
3.08
1.99
1.51
1.20
.90
.61
$6.41
4.48
3.35
2.11
1.70
1.40
.97
.64
$7.60
6.11
4.32
2.52
1.93
1.66
1.31
.97
$8.86
7.79
5.19
2.88
2.47
2.20
1.58
1.08
$4.88
3.69
2.08
1.85
1.48
1.35
$6.31
3.05
2.50
2.26
1.90
.84
$8.71
7.84
3.80
.91
.96
.91
.41
.41
S u b sta n d a rd lo a n s (appraised value)
1934................................................................
1935................................................................
1936................................................................
1937................................................................
1938 original3...............................................
1938 uniform3...............................................
1939................................................................
1940................................................................
32.62
25.41
21.04
16.36
14.27
14.55
12.15
9.81
34.81
25.94
22.32
19.63
16.94
17.72
15.70
12.78
35.07
23.94
19.73
16.63
14.40
14.89
12.24
9.84
34.37
23.73
18.72
15.06
12.25
12.56
10.49
8.23
35.85
26.02
20.45
16.05
13.17
13.47
10.43
8.25
33.94
26.07
21.24
16.89
14.27
14.54
12.01
9.31
31.25
26.87
22.81
18.94
15.72
15.99
13.23
11.29
31.23
26.31
20.39
16.86
16.02
16.25
12.48
10.90
23.54
15.03
16.46
16.70
14.59
11.80
25.78
20.57
19.01
13.51
9.99
10.04
10.31
8.41
L o a n s n o t c r itic iz e d (appraised value)
1934................................................................
1935................................................................
1936................................................................
1937................................................................
1938 original3...............................................
1938 uniform3...............................................
1939................................................................
1940................................................................
59.36
68.06
74.55
81.10
83.74
83.74
86.54
89.32
56.76
66.98
71.28
75.61
79.32
79.32
81.64
85.56
58.85
71.42
76.72
80.75
83.52
83.52
86.49
89.22
59.13
71.98
78.20
82.95
86.24
86.24
88.61
91.16
57.74
69.50
76.20
81.84
85.13
85.13
88.60
91.11
58.46
67.82
74.44
80.59
83.80
83.80
86.68
89.72
59.89
65.34
72.00
78.18
81.81
81.81
85.19
87.63
58.85
65.18
74.73
79.45
81.90
81.90
86.04
87.75
70.15
81.92
81.04
81.04
83.51
87.36
65.51
71.59
77.19
85.58
89.05
89.05
89.28
91.18
$9.92
8.51
A Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.
8 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
8 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.
N ote :
For banks included and explanation of terms, see pages 85-87.
CORPORATION
$8.43
7.08
6.40
4.76
3.74
2.96
2.66
1.66
INSURANCE
$8.02
6.53
4.41
2.54
1.99
1.71
1.31
.87
DEPOSIT
E x a m in ers’ d e d u c t io n s (n et) f r o m loa n s
1934................................................................
1935................................................................
1936................................................................
1937................................................................
1938 original3...............................................
1938 uniform3...............................................
1939................................................................
1940................................................................
FEDERAL
$100,000
or
less
Table 138.
A s s e t R a t i o s OF INSURED COMMERCIAL BANKS EXAMINED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION,
1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
$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
7,075
357
1,837
2,022
1,471
816
413
$100.00
.77
99.23
8.UU
90.79
$100.00
1.25
98.75
9.06
89.69
$100.00
.67
99.33
7.51
91.82
$100.00
.42
99.58
6.53
93.05
$100.00
.57
99.43
7.05
92.38
$100.00
.90
99.10
7.86
91.2U
$100.00
1.02
98.98
10.06
88.92
$5,000,000 $10,000,000 M ore than
to
to
$50,000,000
$10,000,000 $50,000,000
0
93
60
6
$100.00
.92
99.08
10.73
88.35
$100.00
.34
99.66
5.03
9U-63
P E R $100 OF B O O K V A L U E :
T otal a ssets........................................................
Examiners' deductions (net) ........................
Appraised value...............................................
Substandard..................................................
Not criticized.................................................
$100.00
.94
99.06
9.82
89.2 U
100.00
100.00
100.00
100.00
100.00
100.00
100 00
100.00
100.00
100.00
.68
99.32
8.65
90.67
100.00
.30
99.70
8.U0
91.80
100.00
.13
99.87
9.11
90.76
100.00
.20
99.80
8.1U
91.66
100.00
.63
99.37
9.27
90.10
100.00
.80
99.20
9.03
90.17
100.00
1.08
98.92
10.77
88.15
100.00
.86
99.14
10.66
88.U8
100.00
.63
99.37
8.U7
90.90
100.00
.35
99.65
2.72
96.93
L oan s.....................................................................
Examiners* deductions (n e t)........................
Appraised value...............................................
Substandard..................................................
Not criticized.................................................
100.00
.87
99.13
9.81
89.82
100.00
1.66
98.34
12.78
85.56
100.00
.94
99.06
9.8U
89.22
100.00
.61
99.39
8.23
91.16
100.00
.64
99.36
8.25
91.11
100.00
.97
99.03
9.31
89.72
100.00
1.08
98.92
11.29
87.63
100.00
1.35
98.65
10.90
87.75
100.00
.84
99.16
11.80
87.36
100.00
.41
99.59
8.U1
91.18
Fixed and miscellaneous assets.................
Examiners’ deductions (n e t)........................
Appraised v a lu e ..............................................
Substandard..................................................
Not criticized.................................................
100.00
5.22
94.78
US.18
U9.60
100.00
9.51
90.49
37.U7
53.02
100.00
7.11
92.89
31.87
61.02
100.00
3.74
96.26
33.30
62.96
100.00
4.31
95.69
36.U9
59.20
100.00
7.51
92.49
U1.90
50.59
100.00
5.85
94.15
52.52
U1.63
100.00
3.97
96.03
U9.31
U6.72
100.00
5.13
94.87
U8.23
U6.6U
100.00
1.54
98.46
39.SU
59.12
1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
N o te:
For banks included and explanation of terms, see pages 85-87.
BANKS
100.00
Securities............................................................
Examiners’ deductions (n e t)........................
Appraised value...............................................
Substandard..................................................
Not criticized.................................................
OF INSURED
Gash and due from banks...........................
OF EXAMINATIONS
Num ber of banks....................................
$100,000
or
less
ANALYSIS
Banks with deposits of—
All
banks
CD
O
EARNINGS OF INSURED COMMERCIAL BANKS
Table 139.
E A R N IN G S, E XPE N SE S, AND DIVIDEN DS OF INSURED COMMERCIAL B A N K S ,
1934-1940'
(Amounts in thousands of dollars)
1936
1935
1937
1938
1939
1940
14,123
13,969
13,795
13,657
13,534
13,438
690,601
550,092
75,748
202,008
1,518,449
643,217
547,727
90,003
205,188
1,486,135
663,195
573,991
105,056
224,490
1,566,732
709,962
572,019
110,995
240,598
1,633,574
705,037
531,854
115,226
232,263
1,584,380
726,922
521,681
121,525
235,372
1,605,500
768,770
499,650
129,380
233,274
1,631,074
302,603
7,324
262,228
2,647
402,038
410,953
77,043
47,747
280,412
1,117,167
79,258
39,912
288,074
1,083,072
237,222
1,630
10,369
177,431
249,611
95,327
52,248
299,738
1,123,576
235,350
1,333
11,239
187,024
265,141
102,771
51,457
307,559
1,161,874
229,629
926
11,721
191,984
269,952
99,032
56,384
294,851
1,154,479
215,237
622
12,178
196,426
274,934
102,344
53,567
299,795
1,155,103
200,790
474
12,439
202,357
282,837
117,168
61,811
309,489
1,187,365
INSURANCE
401,282
403,063
443,156
471,700
429,901
450,397
443,709
514,562
52,874
5191,777
528,368
81,812
5287,788
267,922
110,595
175,092
117,239
89,860
57,919
172,857
56,405
61,579
214,959
65,581
66,495
177,774
65,887
73,274
T otal profits on assets sold, recoveries, etc............................................
32,814
292,027
34,484
432,452
31,532
585,141
43,836
308,854
38,381
329,222
34,137
381,172
32,200
349,135
Net earnings, profits and recoveries on assets, etc......................................
693,309
835,515
1,028,297
780,554
759,123
831,569
792,844
552,857
391,547
88,874
1,033,278
318,732
239,193
70,175
628,100
250,266
154,758
96,641
501,665
141,537
176,457
77,098
395,092
150,100
221,903
82,507
454,510
136,137
215,170
86,938
438,245
113,699
193,054
79,290
386,043
Current operating earnings:
Commissions, fees, and collection, exchange, and service charges...............
Current operating expenses:
|
Other expenses of occupancy and maintenance of banking quarters4..........
Profits on assets sold or exchanged, recoveries, and reductions in
valuation allowances:
Recoveries and reductions in valuation allowances on loans. .......................
Recoveries and reductions in valuation allowances on securities.................
All other recoveries, profits on assets sold, and reductions in valuation
Losses, charge-offs, and additions to valuation allowances:
All other losses, charge-offs, and additions to valuation allowances............
f
{
CORPORATION
14,137
DEPOSIT
FEDERAL
1934
-339,969
207,415
-339,969
207,415
526,632
2,442
524,190
385,462
4,848
380,614
304,613
4,344
300,269
393,324
4,641
388,683
406,801
5,690
401,111
Gash dividends declared and interest paid on capital:
Interest paid on capital notes and debentures and dividends declared on
preferred s tock ...................................................................................................
Dividends declared on com m on capital..............................................................
Total cash dividends declared and interest paid on capital..........
17,796
169,973
187,769
33,321
174,216
207,537
34,531
188,886
223,417
24,195
201,450
225,645
19,435
202,674
222,109
18,448
213,836
232,284
17,313
219,437
236,750
N et profits after dividends.....................................................................................
-527,738
-122
300,773
154,969
78,160
156,399
164,361
52,518
180,893
53,235
188,410
54,080
187,189
54,713
191,612
55,717
197,523
N et profits before incom e taxes and dividends6...........................................
Federal and State taxes on net incom e7..................................................................
Net profits after incom e taxes..............................................................................
Number of active officers, Decem ber 3 1 ....................................................
Number of other employees, December 31...............................................
(8)
(8)
(8)
(8)
Minus (-) indicates net loss.
BANKS
191
OF INSURED
N ote:
EARNINGS
1 All figures in this table differ from those published in previous Annual Reports b y the inclusion of figures for insured national banks in the possessions and insured banks
in the District of Columbia not members of the Federal Reserve System, which were formerly excluded.
2 Excludes trust companies not engaged in deposit banking, which submit reports to F D IC (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and
4 for 1940); and banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939). For additional exclusions and duplications, see
page 88.
* E xcept for 1934 and 1935, excludes income taxes paid by banks submitting reports to F D IC .
4 For banks submitting reports to F D IC , 1936-1940, consists of regular depreciation allowances on banking house, furniture and fixtures plus other expenses of occupancy
and maintenance of banking quarters; for banks not submitting reports to F D IC , and in 1934 and 1935 for banks submitting reports to F D IC , consists of regular and extra
ordinary depreciation allowances on banking house, furniture and fixtures. See pages 89-90.
5 Profits on securities available separately only for banks submitting reports to F D IC ; included with recoveries for banks not submitting reports to F D IC .
6 After paym ent of income taxes for banks not submitting reports to F D IC , and in 1934 and 1935 for banks submitting reports to F D IC . See footnote 3.
7 Incom e taxes available only for banks submitting reports to F D IC . See footnote 3.
8 N ot available.
192
Table 140.
R A T IO S OF E A R N IN G S, E XPE N SE S, AND DIVIDEN DS OF INSURED COMMERCIAL B A N K S ,
1934-1940
(Amounts per $100 of total assets1)
1935
1936
1938
1937
1939
1940
Num ber of banks2.............................................................................................
14,137
14,123
13,969
13,795
13,657
13,534
13,438
Current operating earnings:
Interest and discount on loa n s...............................................................................
Interest and dividends on securities.....................................................................
Commissions, fees, and collection, exchange, and service charges...............
Other current operating earnings..........................................................................
Gross current operating earnings..............................................................
$1.53
1.22
.17
.45
3.37
$1.33
1.14
.19
.42
3.08
$1.24
1.07
.20
.41
2.92
$1.29
1.04
.20
.44
2.97
$1.28
.96
.21
.42
2.87
$1.22
.87
.20
.39
2.68
$1.16
.75
.19
.35
2.45
DEPOSIT
$0.67
.02
$0.54
.01
$0.44
.00
.02
.33
-47
.18
.09
.56
2.09
$0.43
.00
.02
.34
.48
.19
.09
.56
2.11
$0.42
.00
.02
.35
.49
.18
.10
.53
2.09
$0.36
.00
.02
.33
.46
.17
.09
.50
1.93
$0.30
.00
.02
.30
.43
.18
.09
.47
1.79
INSURANCE
FEDERAL
1934
Current operating expenses:
Interest on time and savings deposits..................................................................
Interest and discount on borrow ings....................................................................
Directors’ and professional fees.............................................................................. )
Officers’ salaries..........................................................................................................
Employees’ salaries and w ages...............................................................................
Taxes3............................................................................................................................
Other expenses of occupancy and maintenance of banking quarters4..........
Other current operating expenses..........................................................................
T otal current operating expenses...............................................................
(
.85
.17
.11
.62
2.48
.16
.08
.60
2.24
Net current operating earnings...........................................................................
$0.89
$0.84
$0.83
$0.86
$0.78
$0.75
$0.66
Profits on assets sold or exchanged, recoveries, and reductions in
valuation allowances:
Profits on securities sold or exchanged................................................................
Recoveries and reductions in valuation allowances on loans.........................
Recoveries and reductions in valuation allowances on securities.................
All other recoveries, profits on assets sold, and reductions in valuation
allowances............................................................................................................
Total profits on assets sold, recoveries, etc............................................
$60.03
.12
5.43
$50.06
.17
5.60
$0.50
.21
.33
$0.21
.16
.11
$0.31
.10
.11
$0.36
.11
.11
$0.27
.10
.11
.07
.65
.07
.90
.05
1.09
.08
.56
.07
.59
.06
.64
.05
.53
Net earnings, profits and recoveries on assets, etc......................................
$1.54
$1.74
$1.92
$1.42
$1.37
$1.39
$1.19
$1.23
.87
.19
2.29
$0.66
.50
.15
1.31
$0.47
.29
.18
.94
$0.26
.32
.14
.72
$0.27
.40
.15
.82
$0.23
.35
.15
.73
$0.17
.29
.12
.58
1
Losses, charge-offs, and additions to valuation allowances:
On securities................................................................................................................
All other losses, charge-offs, and additions to valuation allowances............
T otal losses, charge-offs, etc.........................................................................
CORPORATION
.89
N et profits before incom e taxes and dividends8.
Federal and State taxes on net incom e7.......................
N et profits after incom e taxes..................................
$-0.75
$0.43
-0.75
.43
$0.98
.00
.98
$0.70
.01
.69
$0.55
.01
.54
$0.66
.01
.65
$0.61
.01
.60
$0.04
.38
.42
$0.07
.36
.43
$0.06
.36
.42
$0.04
.37
.41
$0.03
.37
.40
$0.03
.36
.39
$0.03
.33
.36
Net profits after dividends...........................................................................
$-1.17
$-0.00
$0.56
$0.28
$0.14
$0.26
$0.24
Num ber of active officers, Decem ber 31 (average per bank)
Num ber of other employees, December 31 (average per b a n k ).
(8)
(8)
(8)
(8)
3.8
12.9
3.9
13.7
4.0
13.7
4.0
14.2
4.1
14.7
Gash dividends declared and interest paid on capital:
Interest paid on capital notes and debentures and dividends declared on
preferred s tock .........................................................................................
Dividends declared on com m on capital....................................................
T otal cash dividends declared and interest paid on capital.
Minus (-) indicates net loss.
BANKS
OF INSURED
N ote:
EARNINGS
1 Total assets are averages of figures at beginning, middle, and end of year for banks submitting statements of assets and liabilities. See page 89.
2 Excludes trust companies not engaged in deposit banking which submit reports to F D IC (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and
4 for 1940); and banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939). For additional exclusions and duplications, see
page 88.
8 E xcept for 1934 and 1935, excludes income taxes paid by banks submitting reports to F D IC .
4 For banks submitting reports to F D IC , 1936-1940, consists of regular depreciation allowances on banking house, furniture and fixtures plus other expenses of occupancy
and maintenance of banking quarters; for banks not submitting reports to F D IC , and in 1934 and 1935 for banks submitting reports to F D IC , consists of regular and extra
ordinary depreciation allowances on banking house, furniture and fixtures. See pages 89-90.
5 Profits on securities available separately only for banks submitting reports to F D IC ; included with recoveries for banks not submitting reports to F D IC .
6 A fter paym ent of incom e taxes for banks not submitting reports to F D IC , and in 1934 and 1935 for banks submitting reports to F D IC . See footnote 3.
7 Incom e taxes available only for banks submitting reports to F D IC . See footnote 3.
8 N ot available.
<r>
co
EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BAN KS,
194
T able 141.
1940
BY CLASS OF BANK
(Amounts in thousands of dollars)
Banks submitting reports to F D IC 2
Members F . R . System
Other1
National
Total
State
Operating
throughout
the year
Operating
less than
full year3
1,342
10
6,942
6,871
71
Current operating earnings:
Interest and discount on loa n s...............................................................................
Interest and dividends on securities.....................................................................
Commissions, fees, and collection, exchange, and service charges...............
Other current operating earnings..........................................................................
Gross current operating earnings..............................................................
768,770
499,650
129,380
233,274
1,631,074
410,354
283,394
63,767
104,838
862,353
185,057
147,839
28,787
99,013
460,696
1,200
308
384
92
1,984
172,159
68,109
36,442
29,331
306,041
171,012
67,770
36,179
29,213
304,174
1,147
339
263
118
1,867
Current operating expenses:
Interest on time and savings deposits.................................................................
Interest and discount on borrowings
.............................................................
Directors’ and professional fees..............................................................................
Officers’ salaries..........................................................................................................
Employees’ salaries and w ages...............................................................................
Taxes4...........................................................................................................................
Other expenses of occupancy and maintenance of banking quarters5..........
Other current operating expenses..........................................................................
T otal current operating expenses...............................................................
200,790
474
12,439
202,357
282,837
117,168
61,811
309,489
1,187,365
105,120
76
5,349
103,799
150,824
65,971
28,282
166,779
626,200
42,350
48
2,341
51,667
94,010
34,431
17,191
98,256
340,294
270
15
229
350
181
53
360
1,458
53,050
350
4,734
46,662
37,653
16,585
16,285
44,094
219,413
52,750
346
4,703
46,335
37,444
16,503
16,181
43,739
218,001
300
4
31
327
209
82
104
355
1,412
N et current operating earnings...........................................................................
443,709
236,153
120,402
526
86,628
86,173
455
Profits on assets sold or exchanged, recoveries, and reductions in
valuation allowances:
Profits on securities sold or exchanged................................................................
Recoveries and reductions in valuation allowances on loans.........................
Recoveries and reductions in valuation allowances on securities.................
All other recoveries, profits on assets sold, and reductions in valuation
allowances............................................................................................................
T otal profits on assets sold, recoveries, etc............................................
177,774
65,887
73,274
105,005
36,729
40,982
54,136
18,565
22,837
33
28
15
18,600
10,565
9,440
18,519
10,502
9,411
81
63
29
32,200
349,135
15,314
198,030
9,182
104,720
6
82
7,698
46,303
7,656
46,088
42
215
Net earnings, profits and recoveries on assets, etc......................................
792,844
434,183
225,122
608
132,931
132,261
670
CORPORATION
5,144
INSURANCE
13,438
DEPOSIT
Number of banks...............................................................................................
FEDERAL
Banks not submitting reports to F D IC
All
insured
banks
113,699
193,054
79,290
386,043
58,165
107,904
27,425
193,494
32,243
56,054
28,405
116,702
Net profits before incom e taxes and dividends6...........................................
Federal and State taxes on net in com e...................................................................
N et profits after incom e taxes..............................................................................
406,801
75,690
401,111
240,689
(7)
240,689
108,420
(7)
108,420
Cash dividends declared and interest paid on capital:
Interest paid on capital notes and debentures and dividends declared on
preferred stock ...................................................................................................
Dividends declared on com m on capital..............................................................
T otal cash dividends declared and interest paid on capital..........
17,313
219,437
236,750
8,117
124,879
132,996
N et profits after dividends.....................................................................................
164,361
N um ber of active officers, December 3 1 ....................................................
Num ber of other em ployees, December 31................................................
55,717
197,523
68
69
18
155
23,223
29,027
23,442
75,692
23,093
28,898
23,353
75,344
130
129
89
348
453
453
57,239
5,690
51,549
56,917
5,653
51,264
322
37
285
4,611
72,873
77,484
28
198
226
4,557
21,487
26,044
4,540
21,303
25,843
17
184
201
107,693
30,936
227
25,505
25,421
84
26,109
103,676
9,260
60,107
56
227
20,292
33,513
20,092
33,259
200
254
(7)
Back figures— See Table 139, and the following Annual Reports:
BANKS
1939, p. 182; 1938, p. 214; 1937, p. 141 and p . 144; 1936, p . 165: 1935, p . 198.
See pages 89-90.
OF INSURED
1 National banks in the possessions and State banks in the District of Columbia, not members of the Federal Reserve System.
2 Excludes 4 trust companies not engaged in deposit banking. For additional exclusions and duplications, see page 88.
! Banks submitting reports covering less than the full year’s operations or materially affected by mergers.
4 Excludes income taxes paid by banks submitting reports to FD IC .
5 Consists of regular and extraordinary depreciation allowances on banking house, furniture and fixtures for banks not submitting reports to F D IC .
6 After paym ent of income taxes for banks not submitting reports to F D IC . See footnote 4.
7 Incom e taxes available only for banks submitting reports to F D IC . See footnote 4.
EARNINGS
Losses, charge-offs, and additions to valuation allowances:
On loans.......................................................................................................................
On securities...............................................................................................................
All other losses, charge-offs, and additions to valuation allowances............
T otal losses, charge-offs, etc........................................................................
CO
OT
Table 142.
DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET EARNINGS, 1940
BAN KS GROUPED B Y AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND
NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED
196
Banks with net current operating earnings per $100 of total assets of— 1
All
banks
$-0.50
or less
$-0.01
to $-0.49
$0.00
to $0.49
$0.50
to $0.99
$1.00
to $1.49
$1.50
to $1.99
$2.00
to $2.49
$2.50
to $2.99
$3.00
or more
976
3,773
4,303
2,360
963
375
252
359
2,159
3,020
6
9
8
6
24
21
27
120
172
68
380
687
83
591
973
78
507
683
42
310
296
23
130
103
26
88
77
$500,000 to $1,000,000........................................................
$1,000,000 to $2,000,000....................................................
$2,000,000 to $5,000,000....................................................
2,956
2,130
1,482
4
5
2
25
22
14
164
160
150
809
704
602
' 1,043
804
519
591
311
155
199
81
28
78
30
8
43
13
4
$5,000,000 to $10,000,000.................................................
$10,000,000 to $50,000 000
..........................
M ore than $50,000 000
..............................
505
421
132
1
8
7
74
73
36
229
213
81
160
115
15
28
7
3
4
1
2
1
B a n k s in ce n te r s w ith p o p u la t io n o f —
Less than 250.........................................................................
250 to 500...............................................................................
500 to 1,0 0 0 ...........................................................................
626
1,564
2,293
4
1
5
6
10
20
40
80
128
122
335
560
203
497
709
143
361
498
74
166
235
22
69
86
12
45
52
1,000 to 2 ,5 0 0 ........................................................................
2,500 to 5 ,0 0 0 ...................................................... .................
5,000 to 10,000.....................................................................
2,924
1,705
1,283
11
5
1
29
21
15
175
111
114
690
499
403
988
603
453
612
293
204
257
108
63
106
42
19
56
23
11
10,000 to 25,000...................................................................
25,000 to 50,000...................................................................
50,000 or m ore.......................................................................
1,105
487
1,177
3
2
3
4
5
17
101
50
177
444
206
514
380
169
301
126
39
84
21
8
31
10
2
19
16
6
31
B an k s in ce n te r s w ith —
1 banking office.....................................................................
2 banking offices...................................................................
3 banking offices...................................................................
6,913
3,553
1,050
15
11
5
52
45
6
389
279
86
1,640
1,057
391
2,225
1,249
375
1,476
604
125
682
207
28
264
78
13
170
23
21
4 banking offices...................................................................
5 banking offices...................................................................
6 banking offices .................................................................
388
201
137
1
1
3
3
4
44
14
17
152
89
54
114
68
42
52
20
10
13
3
2
2
1
2
7
2
6
7 or 8 banking offices..........................................................
9 to 19 banking offices........................................................
20 or more banking offices.................................................
143
294
485
1
1
2
5
7
13
42
92
68
104
218
37
86
107
14
34
25
3
9
16
2
3
10
4
10
9
1 Asset and liability items are averages of figures for March 26, 1940, June 29, 1940, and December 31, 1940, for banks not reporting to F D IC ; and of figures for
December 30, 1939, June 29, 1940, and December 31, 1940, for banks reporting to F D IC .
2 For explanation of banks included, see pages 88-89.
Back figures—See the Annual
Report for 1939, p. 184.
CORPORATION
127
INSURANCE
35
DEPOSIT
13,164
B a n k s w ith d e p o sits o f — 1
$100,000 or less.....................................................................
$100,000 to $250,000...........................................................
$250,000 to $500,000...........................................................
FEDERAL
A ll b a n k s 2..................................................................................
Table 143.
DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET PROFITS, 1940
BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND
NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED
Banks with net profits before dividends per $100 of total assets of — 1
All
banks
$ - 2.00
or less
$ - 1.00
to $-1.99
359
2,159
3,020
12
23
23
$500,000 to $1,000,000........................................
$ 1 , 000,000 to $2 , 0 0 0 ,0 0 0 ....................................
$2,000,000 to $5,000,000....................................
2,956
2,130
1,482
23
42
22
22
22
$5,000,000 to $10,000,000..................................
$10,000,000 to $50,000,000................................
M ore than $50,000,000........................................
505
421
132
3
4
B a n k s in c e n te r s w ith p o p u la tio n o f —
Less than 250..........................................................
250 to 500= =...........................................................
500 to 1,000............................................................
626
1,564
2,293
1,000 to 2 ,5 0 0 ........................................................
2,500 to 5,000........................................................
5,000 to 10,000......................................................
2,924
1,705
1,283
10,000 to 25,000....................................................
25,000 to 50,000....................................................
50,000 or m ore.......................................................
1,105
487
1,177
B an k s in ce n te r s w ith —
banking office......................................................
banking offices....................................................
3 banking offices....................................................
6,913
3,553
1,050
1
2
18
10
149
$2 .0 0
to $2.49
$2.50
to $2.99
$3.00
or more
644
1,975
4,023
3,244
1,562
748
247
194
5
10
39
46
24
109
128
63
249
368
77
495
791
63
523
806
46
349
463
29
213
224
11
20
72
84
19
67
55
137
399
338
299
846
724
573
803
553
321
397
187
90
162
87
25
51
34
22
6
10
6
103
61
13
14
4
4
1
3
221
101
29
54
32
5
1
5
13
10
30
27
19
45
21
12
62
45
35
120
7
4
21
2
128
96
35
217
2
79
11
3
16
30
42
28
89
105
78
298
162
398
596
146
405
599
226
330
55
114
165
15
38
52
49
38
28
126
82
74
374
228
214
784
529
440
766
442
311
429
205
201
100
72
33
123
50
10
58
19
63
212
102
417
190
507
262
115
198
69
26
57
22
257
9
28
11
5
15
333
184
38
899
534
183
1,824
1,133
392
1,777
909
263
998
389
80
499
182
29
176
37
14
129
33
14
18
79
44
25
153
85
53
79
33
28
33
7
3
4
5
2
12
8
3
5
17
29
29
67
115
61
116
206
25
57
73
14
14
16
2
10
2
10
10
21
67
35
80
48
131
69
10
6
21
4
4
4
201
4
3
137
2
7 or 8 banking offices...........................................
9 to 19 banking offices.........................................
20 or more banking offices..................................
143
294
485
2
1
5
7
1
2
2
4
4
11
87
16
212
12
6
9
15
20
3
Q
12
9
7
1
1
£
D
4
10
47
12
10
12
3
4
3
Q
O
3
1 Asset and liability items are averages of figures for March 26, 1940, June 29, 1940, and December 31, 1940, for banks not reporting to F D IC ; and of figures for
December 30, 1939, June 29, 1940, and December 31, 1940, for banks reporting to F D IC .
2 For explanation of banks included, see pages 88-89.
Back figures— See
the Annual Report for 1939, p , 185.
197
4 banking offices....................................................
5 banking offices....................................................
6 banking offices....................................................
388
$1.50
to $1.99
250
22
11
$ 1 .0 0
to $1.49
BANKS
128
$0.50
to $0.99
OP INSURED
13,164
B an k s w ith d e p o sits o f — 1
$ 100 ,00 0 or less......................................................
$100,000 to $250,000............................................
$250,000 to $500,000............................................
$ 0.00
to $0.49
EARNINGS
A ll b a n k s 2 ..................................................................
$-0.50
$ - 0.0 1
to $-0.99 to $-0.49
Table 144.
DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET EARNINGS AND BY RATE OF NET PROFITS, 1940
$-0.50
or less
$-0.01
to $-0.49
$0.00
to $0.49
$0.50
to $0.99
$1.00
to $1.49
$1.50
to $1.99
$2.00
to $2.49
$2.50
to $2.99
$3.00
or more
127
976
3,773
4,303
2,360
963
375
252
24
11
56
71
181
795
445
3,328
305
3,998
114
2,246
27
936
14
361
5
247
128
149
8
3
4
7
18
26
41
61
33
35
17
15
4
3
1
1
$-0.50 to $ -0 .9 9 ...................................................................
$-0.01 to $ -0 .4 9 ...................................................................
250
644
3
10
6
39
36
101
101
242
65
172
21
61
12
11
5
5
1
3
$0.00 to $ 0.4 9 ........................................................................
$0.50 to $ 0.9 9 ........................................................................
1,975
4,023
5
3
36
25
428
274
850
1,821
468
1,437
142
337
26
93
13
24
7
9
$1.00 to $ 1 .4 9 ........................................................................
$1.50 to $ 1 .9 9 ........................................................................
3,244
1,562
2
1
6
2
69
12
508
94
1,596
352
837
692
174
318
39
67
13
24
$2.00 to $ 2.4 9 ........................................................................
$2.50 to $ 2.9 9 ........................................................................
748
247
1
8
3
35
11
99
24
171
35
250
54
133
57
51
63
$3.00 or m ore.........................................................................
194
1
1
9
22
32
21
28
80
Banks
$100
$—2.00 or
$-1.00 to
with net profits before dividends per
of total assets of— 1
less.........................................................................
$ -1 .9 9 ...................................................................
1 Total assets are averages of figures for March 26, 1940, June 29, 1940, and December 31, 1940, for banks not reporting to F D IC ; and of figures for December 30, 1939,
June 29, 1940, and December 31, 1940, for banks reporting to F D IC .
2 For explanation of banks included, see pages 88-89.
Back figures— See the Annual Report for 1939, p. 186.
CORPORATION
35
1,171
11,993
INSURANCE
13,164
Banks with losses— to ta l..................................
Banks with profits— to ta l................................
DEPOSIT
All banks2.................................................................................
FEDERAL
Banks with net current operating earnings per $100 of total assets of— 1
All
banks
Table 145.
DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF INCOME ON LOANS, 1940
BANKS GROUPED B Y AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND RATE OF NET EARNINGS
Banks with income on loans1 per $100 of total loans of— 2
All
banks
Less than
$4,003
$4.00
to $4.99
$5.00
to $5.99
$6.00
to $6.99
$7.00
to $7.99
$8.00
to $8.99
$9.00
to $9.99
$11.00
$10.00
to $10.99 to $11.99
$12.00
or more
4,051
3,504
1,733
960
464
233
146
184
$100,000 to $250,000............................................................
$250,000 to $500,000............................................................
359
2,159
3,020
4
15
21
7
67
173
26
353
770
62
567
928
75
486
552
71
285
278
36
164
145
30
88
64
19
53
42
29
81
47
$500,000 to $1,000,000.........................................................
$1,000,000 to $2,000,000.....................................................
$2,000,000 to $5,000,000.....................................................
2,956
2,130
1,482
60
41
69
249
254
303
953
913
693
939
618
323
380
167
63
223
77
21
79
33
3
37
11
3
19
10
2
17
6
2
505
421
132
55
98
93
168
182
30
224
110
9
44
23
7
3
4
1
1
3
1
1
1
250 to 500................................................................................
500 to 1 ,000.............................................................................
626
1,564
2,293
2
16
21
48
88
148
165
358
588
180
463
687
127
310
394
68
147
222
17
73
114
9
48
44
7
24
31
3
37
44
1,000 to 2 ,5 0 0 .........................................................................
2,500 to 5 ,000.........................................................................
5,000 to 10,000.......................................................................
2,924
1,705
1,283
54
26
30
197
150
133
800
586
495
867
480
374
415
226
130
282
129
55
139
57
31
79
18
11
41
15
15
50
18
9
10,000 to 25,000.....................................................................
25 000 to 50,000
...........................................................
50,000 or m ore........................................................................
1,105
487
1,177
45
27
235
186
124
359
486
223
350
256
83
114
70
17
44
32
6
19
9
2
22
7
3
14
5
8
9
2
12
w ith n e t c u r r e n t o p e r a tin g earnings per
o f t o ta l assets o f — 2
less
$-0 49
............................
35
127
3
15
6
27
6
37
9
28
3
10
4
3
4
4
2
$0.00 to $0.49.........................................................................
$0.50 to $0.99.........................................................................
976
3,773
127
234
210
652
307
1,480
196
881
74
297
29
138
9
53
10
17
8
4
6
17
$1.00 to $ 1.4 9 .........................................................................
$1.50 to $ 1.99.........................................................................
4,303
2,360
61
14
425
87
1,549
526
1,322
772
539
454
236
268
77
122
45
50
21
35
28
32
$2.00 to $ 2.4 9 .........................................................................
$2.50 to $2.99 .......................................................................
$3.00 or m ore..........................................................................
963
375
252
2
19
4
3
114
24
8
218
56
22
242
81
33
153
86
43
105
44
46
45
30
34
29
23
26
36
27
37
B a n k s w ith d e p o sits o f — 2
$5 000 000 to $10 000,000
$10 000 000 to $50 000 000
Mnrp fVian
OOft ftOft
..........................................
B an k s in c e n te r s w ith p o p u la tio n o f —
B an k s
$100
$—0 50 or
$-0 01 to
1
1 Income on loans consists of the amount reported against the caption, “ Interest and discount on loans,” which includes renewal, mortgage, and other fees charged in con
nection with loans owned by the bank.
.
2 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to F D I C ; and of figures for December 30,
1939, June 29, 1940, and December 31, 1940, for banks reporting to FD IC .
8 Includes 6 cash depositories with no loans.
4 For explanation of banks included, see pages 88-89.
Back figures—See the Annual Report for 1939, p. 187.
BANKS
1,433
OF INSURED
456
EARNINGS
13,164
A ll b a n k s 4...................................................................................
D i s t r i b u t i o n o f I n s u r e d C o m m e rcia l B a n k s A c c o r d in g t o R a t e o f Incom e o n L o a n s,
1940
200
Table 146.
BANKS GROUPED"BY RATIO OF LOANS TO TOTAL ASSETS AND RATIO OF TIME AND SAVINGS DEPOSITS TO TOTAL DEPOSITS
Banks with income on loans 1 per $100 of total loans of — 2
All
banks
$4.00
to $4.99
$5.00
to $5.99
$6 .00
to $6.99
$7.00
to $7.99
$8 .00
to $8.99
$9.00
to $9.99
$ 1 0.00
$ 11 .0 0
to $10.99 to $11.99
$ 1 2.00
or more
1,433
4,051
3,504
1,733
960
464
233
146
184
147
1,017
2,394
19
107
127
28
160
332
25
286
782
28
564
16
108
256
8
222
57
156
5
25
73
1
11
40
4
14
24
13
27
40
$30.00 to $39.99.....................................................................
$40.00 to $49.99.....................................................................
$50.00 to $59.99.....................................................................
3,226
3,073
2,041
110
60
25
360
304
164
1 ,0 2 1
957
613
839
841
655
403
438
286
236
235
165
119
123
61
53
37
33
33
44
29
20
10
$60.00 to $69.99.....................................................................
$70.00 to $79.99.....................................................................
$80.00 or m ore........................................................................
907
309
50
6
2
70
13
259
98
256
91
179
41
9
9
8
6
8
10
30
15
g
18
2
71
29
3
4
6
3
6
6
Banks with tim e and savings deposits per $100
of total deposits of— 2
N o n e ..........................................................................................
Less than $10.00....................................................................
$10.00 to $19.99.....................................................................
$20.00 to $29.99.....................................................................
411
763
1,241
1,650
18
53
114
190
62
189
327
81
118
249
369
69
128
209
298
68
102
40
71
104
79
19
37
49
47
16
24
30
30
27
30
37
32
254
244
496
618
766
530
583
680
320
304
223
139
67
45
25
31
18
16
18
26
5
4
198
103
49
840
504
147
565
268
61
131
40
37
H
11
8
$30.00 to $39.99.....................................................................
$40.00 to $49.99.....................................................................
$50.00 to $59.99.....................................................................
2,014
2,090
$60.00 to $69.99.....................................................................
$70.00 to $79.99.....................................................................
$80.00 or m ore........................................................................
1,819
951
339
1,886
11
84
93
67
49
57
45
31
13
6
210
116
167
211
122
81
66
10
g
15
8
6
2
3
12
11
2
2
2
19
1 Incom e on loans consists of the amount reported against the caption, “ Interest and discount on loans,” which includes renewal, mortgage, and other fees charged in con
nection with loans owned by the bank.
*
Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to F D IC ; and of figures for December 30,
1939, June 29, 1940, and December 31, 1940, for banks reporting to F D IC .
3 Includes 6 cash depositories with no loans.
4 For explanation of banks included, see pages 88-89.
CORPORATION
456
INSURANCE
13,164
Banks with loans per $100 of total assets of— 2
Less than $10 .00 .....................................................................
$10.00 to $19 .99 .....................................................................
$20.00 to $29.99.....................................................................
DEPOSIT
All banks4....................................................................................
FEDERAL
Less than
$4,003
Table 147.
DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO KATIO OF LOANS TO TOTAL ASSETS,
1940
BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND RATE OF NET EARNINGS
Banks with loans per $100 of total assets of— 1
All
banks
Less than
$10,002
$10.00
to $19.99
$20.00
to $29.99
$30.00
to $39.99
$40.00
to $49.99
$50.00
to $59.99
$60.00
to $69.99
$70.00
to $79.99
$80.00
or more
1,017
2,394
3,226
3,073
2,041
907
309
50
359
2,159
3,020
10
18
18
9
53
146
27
203
399
57
417
680
76
605
816
95
487
581
59
273
277
21
89
89
5
14
14
$500,000 to $1,000,000.......................................................
$1,000,000 to $2,000,000...................................................
$2,000,000 to $5,000,000...................................................
2,956
2,130
1,482
27
21
25
182
232
187
525
453
436
768
612
396
735
458
260
463
252
125
182
72
36
66
25
15
8
5
2
$5,000,000 to $10,000,000.................................................
$10,000,000 to $50,000,000...............................................
More than $50,000,000.......................................................
505
421
132
13
11
4
86
83
39
156
145
50
144
119
33
72
45
6
26
12
6
2
1
3
1
1
B a n k s in ce n te r s w ith p o p u la tio n o f—
Less than 250........................................................................
250 to 500...............................................................................
500 to 1,000...........................................................................
626
1,564
2,293
1
10
18
11
31
113
44
121
280
89
306
515
151
430
625
172
389
442
111
203
213
40
65
83
7
9
4
1,000 to 2 ,5 0 0 .......................................................................
2,500 to 5,000.......................................................................
5,000 to 10,000.....................................................................
2,924
1,705
1,283
32
22
17
206
149
143
490
375
314
752
440
368
730
398
260
472
229
136
192
71
38
46
20
5
4
1
2
10,000 to 2 5,000...................................................................
25,000 to 50,000...................................................................
50,000 or m ore......................................................................
1,105
487
1,177
14
9
24
132
61
171
325
127
318
300
155
301
212
84
183
79
35
87
27
10
42
9
5
36
7
1
15
w ith n e t c u r r e n t o p e r a tin g earnings per
o f t o ta l assets o f — 1
less........................................................................
$ -0 .4 9 ...................................................................
35
127
3
11
9
33
13
41
2
22
4
13
4
6
1
$0.00 to $ 0.4 9 .......................................................................
$0.50 to $ 0.9 9 .......................................................................
976
3,773
43
58
220
470
364
987
206
1,101
86
755
41
307
13
72
3
21
2
$1.00 to $ 1.49.......................................................................
$1.50 to $ 1.9 9 .......................................................................
4,303
2,360
21
8
210
59
691
221
1,196
493
1,193
642
697
564
239
280
54
82
2
11
$2.00 to $2.49.......................................................................
$2.50 to $2.99.......................................................................
$3.00 or m ore........................................................................
963
375
252
2
9
5
2
56
14
7
130
51
25
256
85
39
262
107
53
165
75
62
73
33
43
10
5
20
B an k s
$100
$-0.50 or
$-0.01 to
1
1 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to F D IC ; and of figures for December 30,
1939, June 29, 1940, and December 31, 1940, for banks reporting to F D IC .
2 Includes 6 cash depositories with no loans.
8 For explanation of banks included, see pages 88-89.
Back figutes—See the Annual
Report for 1939, p. 187.
BANKS
147
OF INSURED
13,164
B a n k s w it h d e p o sits o f — 1
$100,000 or less....................................................................
$100,000 to $250,000..........................................................
$250,000 to $500,000..........................................................
EARNINGS
A ll b a n k s 3.................................................................................
Table 148.
DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF INTEREST PAID ON TlME AND SAVINGS DEPOSITS, 1940
BANKS GROUPED B Y AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND RATE OF NET EARNINGS
A ll b a n k s 2.....................
Banks with
no time
and savings
deposits
Banks paying interest per $100 of time and savings deposits of— 1
Less than
$0.50
$0.50
to $0.99
$1.00
to $1.49
$1.50
to $1.99
$2.00
to $2.49
202
All
banks
$2.50
or more
170
1,275
2,309
5,165
3,247
587
359
2,159
3,020
47
130
124
8
23
31
5
46
97
23
120
314
104
777
1,265
121
849
1,008
51
214
181
$500,000 to $1,000,000 ........................................................
$1,000,000 to $2,000,000...............................................................................
$2,000,000 to $5,000,000...........................................................................
2,956
2,130
1,482
68
37
4
40
17
14
194
281
303
459
507
472
1,311
909
567
789
338
117
95
41
5
$5,000,000 to $10,000,000.............................................................................
$10,000,000 to $50,000,000.............................................
M ore than $50,000,000.....................................................
505
421
132
1
4
15
18
151
142
56
198
167
49
134
90
8
17
7
1
B an k s in ce n te r s w ith p o p u la tio n o f —
Less than 250....................................................................................................
250 to 500..........................................................................................................
500 to 1,000.....................................................................
626
1,564
2,293
9
59
97
1
13
14
8
30
68
40
106
215
242
628
941
264
605
803
62
123
155
1,000 to 2 ,5 0 0 ...................................................................................................
2,500 to 5,0 0 0 ...................................................................................................
5,000 to 10,000.................................................................................................
2,924
1,705
1,283
136
60
35
38
29
18
135
130
185
392
327
310
1,231
718
542
841
381
176
151
60
17
10,000 to 25,000........................................................ ; ...........................
25,000 to 50,000........................................................................................
50,000 or m ore..................................................................................................
1,105
487
1,177
12
2
1
15
3
39
194
118
407
335
187
397
438
150
275
100
24
53
11
3
5
B an k s w ith n e t c u r r e n t o p e r a tin g ea rn in g s p er $100 o f to ta l
a ssets o f — 1
$-0.50 or less ....................................................................................................
$-0.01 to $ -0 .4 9 ..............................................................................................
35
127
2
4
1
4
5
21
7
24
8
39
8
27
4
8
$0.00 to $ 0.4 9 .............................................................................................
$0.50 to $ 0.99.................................................................................................
976
3,773
36
83
33
46
184
511
221
882
334
1,474
146
665
22
112
$1.00 to $ 1.4 9 ...................................................................................................
$1.50 to $ 1.9 9 ...................................................................................................
4,303
2,360
115
88
46
15
366
131
741
303
1,845
909
1,029
776
161
138
$2.00 to $ 2.4 9 ...................................................................................................
$2.50 to $ 2.9 9 .................................................................................................
$3.00 or m ore....................................................................................................
963
375
252
52
19
12
11
10
4
34
16
7
89
25
17
366
112
78
335
161
100
76
32
34
DEPOSIT
411
Report for 1939, pp. 188-89.
CORPORATION
Back figures—See the Annual
INSURANCE
1 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to F D IC ; and of figures for December 30,
1939, June 29, 1940, and December 31, 1940, for banks reporting to F D IC .
2 For explanation of banks included, see pages 88-89.
FEDERAL
13,164
B a n k s w ith d ep o sits o f — 1
$100,000 or less.........
$100,000 to $250,000...................................
$250,000 to $500,000
Table 149.
D IS T R IB U T IO N OF IN SU RED COMMERCIAL B AN KS ACCORDING TO R A T IO OF T lM E AND SAVINGS DE PO SITS TO T O T A L D E POSITS,
1940
BAN KS GROUPED B Y RATE OF INTEREST PAID ON TIME AND SAVINGS DEPOSITS, RATE OF NET EARNINGS, AND RATIO OF LOANS TO TOTAL ASSETS
Banks with time and savings deposits per $100 of total deposits o f banks
$10.00
$20.00
Less than
$30.00
$10.00
to $19.99 to $29.99 to $39.99
None
13,164
411
Banks with no tim e and savings deposits..........
Banks paying interest per $100 of tim e and sav
ings deposits of— 1
411
411
$80.00
or more
763
1,241
1,650
1,886
2,014
2,090
1,819
951
339
170
1,275
2,309
130
110
125
15
183
225
8
148
296
8
147
270
2
222
336
5
216
385
1
175
382
1
61
217
13
73
$1.50 to $ 1.9 9 .........................................................................
$2.00 to $ 2.4 9 .........................................................................
$2.50 or m ore..........................................................................
5,165
3,247
587
169
150
79
420
314
84
668
436
94
795
561
105
822
551
81
873
541
70
813
407
41
459
191
22
146
96
11
Banks
$100
$—0.50 or
$-0.01 to
with net current operating earnings per
of total assets of— 1
less...........................................................................
$ -0 .4 9 .....................................................................
2
4
3
6
6
13
2
16
7
12
15
7
25
6
18
2
14
4
$0.00 to $ 0.4 9 .........................................................................
$0.50 to $ 0.9 9 .........................................................................
976
3,773
36
83
65
187
76
311
105
389
110
507
153
554
165
684
152
617
89
339
25
102
$1.00 to $ 1.4 9 .........................................................................
$1.50 to $ 1.9 9 .........................................................................
4,303
2,360
115
88
220
120
334
246
515
358
609
399
663
402
726
332
679
253
354
116
88
46
$2.00 to $ 2.4 9 .........................................................................
$2.50 to $ 2.9 9 .........................................................................
$3.00 or m ore..........................................................................
963
375
252
52
19
12
89
38
35
150
70
35
143
81
41
161
54
27
148
53
26
110
21
20
67
22
5
26
7
4
17
10
47
Banks with loans per $100 of total assets of— 1
Less than $10.003...................................................................
$10.00 to $19.99.....................................................................
$20.00 to $29.99.....................................................................
147
1,017
2,394
25
42
90
11
87
185
11
114
258
16
106
319
15
125
311
15
146
326
16
133
345
20
140
323
11
98
185
7
26
52
$30.00 to $39.99.....................................................................
$40.00 to $49.99.....................................................................
$50.00 to $59.99.....................................................................
3,226
3,073
2,041
112
86
38
204
156
81
333
297
161
422
409
224
474
467
333
479
459
351
493
506
367
418
442
296
229
185
153
62
66
37
$60.00 to $69.99.....................................................................
$70.00 to $79.99.....................................................................
$80.00 or m ore........................................................................
907
309
50
17
1
30
9
55
11
1
130
22
2
117
41
3
173
58
7
168
56
6
130
45
5
59
28
3
28
38
23
BANKS
35
127
OF INSURED
$0.50 to $ 0.9 9 .........................................................................
$1.00 to $ 1.4 9 .........................................................................
EARNINGS
All banks2...................................................................................
$40.00
$50.00
$60.00
$70.00
to $49.99 to $59.99 to $69.99 to $79.99
to
o
C
O
1 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to F D IC ; and of figures for December 30,
1939, June 29, 1940, and December 31, 1940, for banks reporting to FD IC .
2 For explanation of banks included, see pages 88-89.
3 Includes 6 cash depositories with no loans.
B ack figures — See
the Annual Report for 1939, p. 189.
204
EARNINGS OF INSURED BANKS SUBM ITTING REPORTS TO THE FEDERAL DEPOSIT INSURANCE CORPORATION
Table 150. E a r n i n g s , E x p e n s e s , a n d D i s p o s i t i o n o f P r o f i t s o f I n s u r e d C o m m e r c i a l B a n k s
S u b m i t t i n g R e p o r t s t o t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , 1934-1940
(Amounts in thousands of dollars)
11934
N et current operating earnings....................
1939
1940
7,682
7,723
7,580
7,442
7,307
7,161
6,942
149,129
75,713
20,124
26,769
271,735
143,319
79,894
25,201
27,927
276,341
148,170
86,365
33,877
24,357
292,769
156,093
90,803
33,126
30,080
310,102
159,967
83,336
33,803
30,640
307,746
165,211
77,195
34,683
30,462
307,551
172,159
68,109
36,442
29,331
306,041
14,556
8,288
46,142
226,132
68,512
1,411
4,487
40,543
30,590
15,368
6,222
47,435
214,568
61,664
1,017
4,067
41,616
32,949
13,961
13,475
41,914
210,663
60,582
757
4,300
43,945
35,467
16,422
14,514
45,033
221,020
58,719
639
4,472
45,215
36,146
16,578
14,235
44,698
220,702
55,858
457
4,625
46,039
36,778
16,738
15,521
44,821
220,837
53,050
350
4,734
46,662
37,653
16,585
16,285
44,094
219,413
45,603
61,773
82,106
89,082
87,044
86,714
86,628
79,666
3,682
J
1938
73,798
f
\
I
14,562
28,368
8,381
5,967
8,776
37,686
9,765
10,529
7,370
56,032
36,975
1,524
16,148
14,653
7,083
76,383
18,244
2,076
14,309
7,572
10,354
52,555
20,218
1,309
11,432
7,632
9,287
49,878
25,094
1,236
10,936
10,370
6,803
54,439
18,600
1,314
10,565
9,440
6,384
46,303
Net earnings, profits and recoveries on assets, etc.......................
83,289
117,805
158,489
141,637
136,922
141,153
132,931
99,862
70,770
27,375
198,007
65,897
40,263
16,607
122,767
43,213
23,166
31,588
97,967
36,660
28,415
28,223
93,298
28,091
39,756
30,406
98,253
27,959
35,501
32,435
95,895
23,223
29,027
23,442
75,692
-114,718
-4,962
38,669
48,339
60,522
4,344
4,848
2,442
Net
profits after
income taxes
34,325
43,491
58,080
45,258
4,641
40,617
57,239
5,690
51,549
Losses, charge-offs, and additions to valuation allowances:
On loa n s...................................................................
On securities................................................................
All other losses, charge-offs, and additions to valuation allowances............
T otal losses, charge-offs, etc.....................
Net profits before income taxes and dividends
Federal and State taxes on net in com e................................
................................
CORPORATION
Profits on assets sold or exchanged, recoveries, and reductions in
valuation allowances:
Profits on securities sold or exchanged.......................................
Profits on other assets sold or exchanged..................................
Recoveries and reductions in valuation allowances on loans.................
.Recoveries and reductions in valuation allowances on securities...........
All other recoveries and reductions in valuation allow ances.......................
T otal profits on assets sold, recoveries, etc.....................
INSURANCE
Current operating expenses:
Interest on time and savings deposits . . . .
Interest and discount on borrow ings.............
Directors' and professional fees.........................
Officers' salaries.................................................
Employees’ salaries and w ages..........................
Taxes (other than on in com e)................................
Other expenses of occupancy and maintenance of banking quarters...........
Other current operating expenses............................
Total current operating expenses.........................
1937
DEPOSIT
Current operating earnings:
Interest and discount on loa n s........................
Interest and dividends on securities........................................
Commissions, fees, and collection, exchange, and service charges. . . .
Other current operating earnings........................
Gross current operating earnings.......................................
1936
FEDERAL
Number of banks2.....................
11935
Cash dividends declared and interest paid on capital:
Interest paid on capital notes and debentures and dividends declared on
preferred stock ...................................................................................................
Dividends declared on com m on capital...............................................................
T otal cash dividends declared and interest paid on capital..........
N et profits after dividends......................................... ...........................................
2,640
11,289
13,929
7,734
12,739
20,473
7,205
17,311
24,516
6,227
18,196
24,423
4,947
18,672
23,619
4,747
20,308
25,055
4,557
21,487
26,044
-128,647
-25,435
19,068
10,706
15,562
25,505
4,022
2,670
2,982
287
2,713
12,674
1,474
3,953
2,810
90
1,768
10,095
1,937
1,575
567
18
1,483
5,580
9,045
2,211
6,365
49
1,057
18,727
1,745
2,007
1,983
36
925
6,696
Other deductions from capital accounts:
Preferred capital retired (par or face va lu e)...................
C om m on capital retired (par va lu e).................................
Premiums on preferred capital retired.............................
Paym ents on subordinated claim s.....................................
T otal other deductions from capital accounts.
16,645
594
29
5,087
22,355
15,040
467
253
3,897
19,657
8,887
479
42
2,096
11,504
11,537
190
53
2,808
14,588
18,405
151
176
3,257
21,989
4,782
19,701
10,212
1,019,078
1,042,961
1,013,8
1,023,3
997,904
1,0
974,905
994,606
958,573
968,785
Cash and due from b an k s.
Securities................................
L oa n s......................................
Miscellaneous assets...........
T otal a ssets....................
1,567,381
2,439,957
2,497,141
450,971
6,955,450
1,612,757
2,645,720
2,640,610
409,559
7,308,646
1,585,227
2,554,063
2,712,983
380,858
7,233,131
1,799,738
2,475,971
2,785,226
347,534
7,408,469
2,090,011
2,328,818
2,893,839
311,761
7,624,429
L IA B IL IT IE S A N D C A P IT A L
Dem and deposits..................................................................
Tim e deposits........................................................................
T otal deposits................................................................
Miscellaneous liabilities.....................................................
T otal capital a ccou n ts........................................................
T otal liabilities and capital accounts.................
2,877,642
2,961,437
5,839,079
72,695
1,043,676
6,955,450
3,064,795
3,159,695
6,224,490
60,068
1,024,088
7,308,646
2,960,739
3,224,404
6,185,143
46,418
1,001,570
7,233,131
3.113.906
3.262.906
6,376,812
44,829
986,828
7,408,469
3,309,692
3,304,880
6,614,572
45,713
964,144
7,624,429
20,155
30,879
20,435
32,991
20,531
32,843
20,477
33,181
20,292
33,513
9,506
Assets and liabilities:3
ASSETS
N um ber of active officers, Decem ber 3 1 .. .
Num ber of other em ployees, December 31.
20,854
28,955
1 For differences between figures for 1934 and 1935 and subsequent years, see page 90. Items om itted are not available for 1934 and 1935.
2 Banks reporting to F D IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in
the District of Columbia. Figures for trust companies not engaged in deposit banking (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and 4 for 1940)
and banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939) are excluded from this table.
3 Asset and liability items are averages of figures for beginning, middle, and end of year except for 1936 when they are averages of end-of-m onth figures.
N ote:
Minus (-) indicates net loss.
BANKS
23,883
Total capital accounts at beginning o f year...........................
Total capital accounts at end o f y ea r......................................
OF INSURED
N et change in total capital accounts for year...........
EARNINGS
33,564
Other additions to capital accounts:
Preferred capital sold (par or face v a lu e ).......................
Com m on capital sold (par va lu e)......................................
Premiums on new capital sold ............................................
Deposits waived and subordinated....................................
Assessments and other contributions................................
T otal other additions to capital accounts..........
to
o
Ql
RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS
S u b m ittin g R e p o r t s t o t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n , 1934-1940
206
Table 151.
(Amounts per $100 of total assets1)
21934
21935
1936
1937
1938
1939
1940
7,307
7,161
6,942
$2.42
1.23
.33
.42
4.40
$2.21
1.23
.39
.43
4.26
$2.13
1.24
.49
.35
4.21
$2.14
1.24
.45
.41
4.24
$2.21
1.15
.47
.42
4.25
$2.23
1.04
.47
.41
4.15
$2.26
.89
.48
.38
4.01
$1.28
.06
$1.06
.02
.07
.62
.47
.24
.09
.73
3.30
$0.89
.02
.06
.60
.47
.20
.19
.60
3.03
$0.83
.01
.05
.60
.49
.22
.20
.62
3.02
$0.81
.01
.06
.63
.50
.23
.20
.61
3.05
$0.75
.01
.06
.62
.50
.23
.21
.60
2.98
$0.70
.00
.06
.61
.49
.22
.21
.58
2.87
$0.74
$0.96
$1.18
$1.22
$1.20
$1.17
$1.14
$0.23
$0.44
.14
.10
.14
.61
.15
.16
.11
.86
$0.53
.02
.23
.21
.11
1.10
$0.25
.03
.20
.10
.14
.72
$0.28
.02
.16
.11
.12
.69
$0.34
.02
.15
.14
.08
.73
$0.24
.02
.14
.12
.08
.60
$1.35
$1.82
$2.28
$1.94
$1.89
$1.90
$1.74
All other losses, charge-offs, and additions to valuation allowances............
Total losses, charge-offs, etc.........................................................................
$1.61
1.15
.45
3.21
$1.02
.62
.26
1.90
$0.62
.33
.46
1.41
$0.50
.39
.39
1.28
$0.39
.55
.42
1.36
$0.38
.48
.43
1.29
$0.30
.38
•31
.99
Net profits before income taxes and dividends.............................................
Federal and State taxes on net incom e .................................................................
Net profits after income taxes..............................................................................
$-1.86
$-0.08
$0.87
.04
.83
$0.66
.07
.59
$0.53
.06
.47
$0.61
.06
.55
$0.75
.07
.68
Current operating earnings:
Interest and discount on loans...............................................................................
Interest and dividends on securities.....................................................................
Commissions, fees, and collection, exchange, and service charges...............
Gross current operating earnings..............................................................
Current operating expenses:
Interest on time and savings deposits..................................................................
Interest and discount on borrow ings....................................................................
Directors’ and professional fees.............................................................................. |
Officers’ salaries.......................................................................................................... \
Employees’ salaries and wages............................................................................... J
Taxes (other than on incom e)................................................................................
Other expenses of occupancy and maintenance of banking quarters...........
Other current operating expenses..........................................................................
Total current operating expenses...............................................................
Net current operating earnings...........................................................................
Profits on assets sold or exchanged, recoveries, and reductions in
valuation allowances:
Profits on securities sold or exchanged................................................................
Profits on other assets sold or exchanged .
............................................
Recoveries and reductions in valuation allowances on loans.........................
Recoveries and reductions in valuation allowances on securities.................
All other recoveries and reductions in valuation allowances.........................
T otal profits on assets sold, recoveries, etc............................................
Net earnings, profits and recoveries on assets, etc......................................
Losses, charge-offs, and additions to valuation allowances:
On loans.......................................................................................................................
f
1.20 i
[
.24
.13
.75
3.66
CORPORATION
7,442
INSURANCE
7,580
DEPOSIT
7,723
FEDERAL
7,682
Number of banks3.............................................................................................
$0.04
.19
.23
0.12
.19
.31
$0.10
.25
.35
$0.09
.24
.33
0.07
.25
.32
$0.06
.28
.34
$0.06
.29
.35
Net profits after dividends.....................................................................................
$-2.09
$-0.39
$0.48
$0.26
$0.15
$0.21
$0.33
$0.06
.04
$0.02
.06
.04
.00
.02
.14
$0.03
.02
.01
.00
.02
.08
0.12
.03
.09
.00
.02
.26
0.02
.03
.03
.00
.01
.09
$0.24
.01
0.21
.01
.00
.05
.27
$0.12
.01
.00
.03
.16
$0.16
.00
.00
.04
.20
0.24
.00
.00
.04
.28
Other additions to capital accounts:
Preferred capital sold (par or face v a lu e ).......................
Common capital sold (par v a lu e)......................................
Premiums on new capital sold ............................................
Deposits waived and subordinated...................................
Assessments and other contributions................................
Total other additions to capital accounts..........
Other deductions from capital accounts:
Preferred capital retired (par or face value)...................
Comm on capital retired (par v a lu e )................................
Premiums on preferred capital retired.............................
Payments on subordinated claim s....................................
Total other deductions from capital accounts.
.07
.32
$0.13
$0.07
$0.27
$0.14
1U .65
1U .99
13 .8 7
1 3 .1 6
lk-00
13 .7 9
1 3 .8 6
12 .5 7
12 .7 1
Cash and due from ban ks.
Securities...............................
L oans......................................
Miscellaneous assets...........
Total a ssets....................
$22.53
35.08
35.90
6.49
100.00
$22.07
36.20
36.13
5.60
100.00
$21.92
35.31
37.51
5.26
100.00
$24.29
33.42
37.60
4.69
100.00
$27.41
30.54
37.95
4.10
100.00
L IA B IL IT IE S A N D C A PITA L
Demand deposits..................................................................
Tim e deposits........................................................................
Total deposits................................................................
Miscellaneous liabilities.....................................................
T otal capital a ccou nts........................................................
Total liabilities and capital accounts.................
$41.37
42.58
83.95
1.05
15.00
100.00
$41.93
43.24
85.17
.82
14.01
100.00
$40.93
44.58
85.51
.64
13.85
100.00
$42.03
44.04
86.07
.61
13.32
100.00
$43.40
43.35
86.75
.60
12.65
100.00
2.7
4.1
2.7
4.4
2.8
4.5
2.9
4.6
2.9
4.8
13.US
Assets and liabilities:4
ASSETS
Number of active officers, December 31 (average per bank)
Number of other employees, December 31 (average per bank) .
2.7
3.7
N ote:
Minus (-) indicates net loss.
207
1 Total assets for 1937-1940 are averages of figures at beginning, middle, and end of year, and for 1936, averages of figures at end of each month, for banks submitting earnings
reports; total assets for 1935 are averages of figures at three call dates, and for 1934 averages at two call dates, for banks submitting statements of assets and liabilities.
2 For differences between figures for 1934 and 1935 and subsequent years, see page 90. Items omitted are not available for 1934 and 1935.
3 Banks reporting to F D IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in the
District of Columbia. Figures for trust companies not engaged in deposit banking (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and 4 for 1940) and
banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939) are excluded from this table.
4 Asset and liability items are averages of figures for beginning, middle, and end of year except for 1936 when they are averages of end-of-month figures.
BANKS
$0.34
Total capital accounts at beginning of year...........................
Total capital accounts at end of yea r......................................
OF INSURED
Net change in total capital accounts for year...........
EARNINGS
Cash dividends declared and interest paid on capital:
Interest paid on capital notes and debentures and dividends declared on
preferred stock ..................................................................................................
Dividends declared on common capital..............................................................
T otal cash dividends declared and interest paid on capital..........
Table 152.
EARNINGS, E x p e n s e s , AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS
S u b m ittin g R e p o r t s t o t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n , 1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
208
Banks with deposits of— 1
All
banks
Num ber of banks2.................................................
$100,000
to
$250,000
$250,000
to
$500,000
$500,000
$1,000,000 $2,000,000 $5,000,000 $10,000,000
More than
to
to
to
to
to
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000 $50,000,000
337
1,785
1,974
1,433
171,012
67,770
1,379
163
12,836
2,004
24,176
6,240
31,800
9,597
36,179
29,213
304,174
342
167
2,051
2,972
609
19,021
5,422
1,450
37,288
797
397
82
60
6
30,766
11,258
28,338
12,438
10,975
5,805
22,518
12,675
8,224
6,990
6,375
2,206
49,978
6,141
3,154
51,319
5,797
4,883
51,456
2,708
3,535
23,023
5,004
12,109
52,306
1,418
1,100
17,732
3,820
5,587
(In thousa nds of dollar■s)
152
3
25
587
143
117
2,278
14
297
4,882
1,127
921
5,598
20
675
8,256
2,582
1,706
8,528
13
791
9,156
4,274
2,488
9,061
45
850
8,040
5,903
2,720
9,591
10
802
6,659
6,991
2,963
288
2,743
3,746
1,456
8,135
241
675
4,934
10,023
3,513
300
1,078
2,655
619
16,181
43,739
218,001
116
345
1,488
920
2,832
13,271
1,673
5,231
25,741
2,272
6,881
34,403
2,391
7,347
36,357
2,727
7,391
37,134
1,209
3,576
16,838
3,904
8,200
39,625
969
1,936
13,144
N et c u r r e n t o p e r a tin g e a r n in g s ...............................
86,173
563
5,750
11,547
15,575
14,962
14,322
6,185
12,681
4,588
18,519
1,311
24
5
498
84
1,205
165
1,992
221
2,895
210
3,470
269
1,929
95
4,612
112
1,894
150
10,502
108
906
1,498
1,680
1,491
1,662
680
1,795
682
9,411
20
258
605
1,139
1,577
1,848
1,628
1,997
339
6,345
46,088
24
181
282
2,028
598
4,071
805
5,837
1,148
7,321
1,045
8,294
614
4,946
1,054
9,570
775
3,840
132,261
744
7,778
15,618
21,412
22,283
22,616
11,131
22,251
8,428
23,093
28,898
187
27
1,537
676
2,250
1,879
3,295
3,618
3,441
5,032
4,670
6,799
1,517
3,005
4,856
6,755
1,340
1,107
23,353
75,344
114
328
896
3,109
1,605
5,734
2,253
9,166
2,852
11,325
3,232
14,701
1,433
5,955
8,368
19,979
2,600
5,047
P rofits o n assets s o ld o r exc h a n g e d , recoveries,
a n d r e d u c tio n s in v a lu a tio n a llo w a n c e s :
Profits on securities sold or exchanged....................
Profits on other assets sold or exchanged...............
Recoveries and reductions in valuation allowances
on loans....................................................................
Recoveries and reductions in valuation allowances
on securities............................................................
All other recoveries and reductions in valuation
T o t a l p ro fits o n assets s o ld , recoveries, e tc.
N et ea rn in g s, p rofits a n d recov eries o n assets,
L osses, ch a r g e -o ffs , a n d a d d it io n s t o v a lu a tio n
a llo w a n c e s :
On securities............ .......................................................
All other losses, charge-offs, and additions to
valuation allowances.............................................
FRASER
T o t a l losses, ch a r g e -o ffs, e t c .............................
Digitized for
CORPORATION
52,750
346
4,703
46,335
37,444
16,503
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 borrow ings........................
Directors’ and professional fees..................................
Officers’ salaries..............................................................
Employees’ salaries and w ages...................................
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 ex p e n se s...................
DEPOSIT
6,871
FEDERAL
C u rre n t o p e r a tin g e a r n in g s :
Interest and discount on loa n s...................................
Interest and dividends on securities.........................
Commissions, fees, and collection, exchange, and
service charges........................................................
Other current operating earnings..............................
G ross c u r r e n t o p e r a tin g e a r n in g s ..................
$100,000
or
less
Net profits before incom e taxes and dividends..
Federal and State taxes on net income.......................
Net profits after incom e taxes..................................
Cash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and
dividends declared on preferred stock.............
Dividends declared on common capital...................
Total cash dividends declared and interest
paid on cap ital...................................................
56,917
5,653
51,264
416
51
365
4,669
448
4,221
9,884
874
9,010
12,246
1,161
11,085
10,958
925
10,033
7,915
746
7,169
5,176
374
4,802
2,272
751
1,521
3,381
323
3,058
4,540
21,303
31
132
286
1,490
470
3,047
640
3,851
868
3,364
911
3,013
420
1,550
694
3,438
220
1,418
1,776
3,517
4,491
4,232
3,924
1,970
4,132
1,638
202
2,445
5,493
6,594
5,801
3,245
2,832
-2,611
1,420
Other additions to capital accounts:
Preferred capital sold (par or face value)...............
Common capital sold (par value)..............................
Premiums on new capital sold...................................
Deposits waived and subordinated...........................
Assessments and other contributions.......................
T otal other additions to capital accou n ts..
1,738
1,615
1,836
36
679
5,904
27
64
26
2
43
162
103
183
86
34
68
474
35
186
91
354
456
714
282
277
120
237
138
19
700
300
780
113
425
55
1,579
7
686
371
765
1
1,781
1,145
2,401
65
9
583
3,630
1
25
476
2,688
1,339
2,558
60
322
37
1,067
30
105
11
21
32
Other deductions from capital accounts:
Preferred capital retired (par or face value)..........
Common capital retired (par value).........................
Premiums on preferred capital retired.....................
Payments on subordinated claims............................
Total other deductions from
capital
accou n ts................................................................
18,351
151
176
3,256
94
1
6
197
2,571
84
15
500
21,934
101
1,342
3,170
3,058
4,132
3,070
2,443
2,693
Net change in total capital accounts for year..
9,391
133
1,265
2,797
3,961
3,248
861
1,154
-3,523
-505
8,551
8,684
63,965
65,230
108,849
111,646
146,487
150,448
156,220
159,468
168,243
169,104
78,887
80,041
166,105
162,582
54,836
54,331
Total capital accounts, December SO, 1939 ....................
Total capital accounts, December 31, 19U0....................
952,1 US
961,53U
1,925
1,925
Assets and liabilities:1
2,074,081
2,315,074
2,872,529
310,240
7,571,924
11,239
5,064
16,840
1,387
34,530
112,781
80,221
176,855
10,223
380,080
240,628
194,124
363,208
20,884
818,844
328,680
298,829
493,771
32,096
1,153,376
367,614
359,144
509,257
45,857
1,281,872
369,913
420,523
505,048
61,324
1,356,808
178,518
205,546
206,474
31,376
621,914
350,533
482,704
423,093
92,737
1,349,067
114,175
268,919
177,983
14,356
575,433
L IA B IL IT IE S A N D C A P IT A L
Demand deposits...........................................................
Tim e deposits..................................................................
Total deposits..........................................................
Miscellaneous liabilities...............................................
Total capital accou nts..................................................
T otal liabilities and capital accounts..........
3,284,891
3,284,266
6,569,157
45,417
957,350
7,571,924
18,536
7,256
25,792
164
8,574
34,530
200,852
113,875
314,727
853
64,500
380,080
412,511
293,799
706,310
2,326
110,208
818,844
531,246
469,085
1,000,331
4,117
148,928
1,153,376
566,041
552,062
1,118,103
5,458
158,311
1,281,872
553,796
627,709
1,181,505
6,471
168,832
1,356,808
268,650
269,806
538,456
3,865
79,593
621,914
568,152
597,006
1,165,158
20,288
163,621
1,349,067
165,107
353,668
518,775
1,875
54,783
575,433
Num ber of active officers, Decem ber 3 1 ........
_____ Num ber of other employees, December 31.. .
20,092
33,259
510
293
3,576
2,009
4,931
3,730
4,454
1,977
3,043
848
624
129
4,957
5,434
5,565
2,769
6,969
1,533
1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.
2 Banks reporting to F D IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in
the District of Columbia. Figures for 4 trust companies not engaged in deposit banking and 71 banks submitting reports covering less than the full year’s operations or
materially affected b y mergers are excluded from this table.
N ote:
Minus (-) indicates net loss or net decrease in total capital accounts.
Back figures— S ee
the following Annual Reports:
1939, p. 192; 1938, p. 218; 1937, p. 146; 1936, p. 168; 1935, p . 216; 1934, p . 236.
BANKS
ASSETS
Cash and due from banks...........................................
Securities..........................................................................
Loans.................................................................................
Miscellaneous assets.....................................................
T otal assets..............................................................
OF INSURED
163
25,421
EARNINGS
25,843
Net profits after dividends.........................................
to
o
CD
Table 153.
A verages PER BANK OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS
S ubmitting R eports to the Federal D eposit I nsurance C orporation , 1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
All
banks
Number of banks3.................................................
N et e a rn in g s, p ro fits a n d recov eries o n a ssets,
e t c ..................................................................................
L osses, ch a r g e -o ffs , a n d a d d it io n s t o v a lu a tio n
a llo w a n c e s :
On loa n s...........................................................................
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 .............................
6,871
337
1,785
1,974
1,433
797
397
82
60
6
$24,889
9,863
$4,092
484
$7,191
1,459
$12,247
3,161
$22,191
6,697
$38,602
14,125
$71,380
31,330
$133,841
70,793
$375,300
211,250
$1,370,667
1,165,000
5,265
4,252
44,269
1,015
495
6,086
1,665
341
10,656
2,747
735
18,890
4,449
1,539
34,876
7,705
3,958
64,390
14,602
12,300
129,612
33,024
43,110
280,768
83,400
201,817
871,767
236,333
183,333
2,955,333
$7,677
50
684
6,744
5,450
2,402
$451
9
74
1,742
424
347
$1,276
8
166
2,735
631
516
$2,836
10
342
4,182
1,308
864
$5,951
9
552
6,389
2,983
1,736
$11,369
56
1,066
10,088
7,407
3,413
$24,159
25
2,020
16,773
17,610
7,463
$46,585
$135,583
4,017
11,250
82,233
167,050
58,550
$931,167
3,512
33,451
45,683
17,756
2,355
6,366
31,728
344
1,024
4,415
515
1,588
7,435
848
2,650
13,040
1,585
4,802
24,007
3,000
9,218
45,617
6,869
18,617
93,536
14,744
43,610
205,341
65,067
136,667
660,417
161,500
322,665
2,190,666
$12,541
$1,671
$3,221
$5,850
$10,869
$18,773
$36,076
$75,427
$211,350
$764,667
$2,695
191
$71
15
$279
47
$610
84
$1,390
154
$3,632
263
$8,741
678
$23,524
1,159
$76,866
1,867
$315,667
25,000
113,667
50,000
179,667
442,500
103,167
1,528
320
508
759
1,172
1,871
4,186
8,293
29,917
1,370
59
145
306
795
1,979
4,655
19,854
33,283
56,500
924
6,708
72
537
157
1,136
303
2,062
562
4,073
1,441
9,186
2,631
20,891
7,487
60,317
17,567
159,500
129,166
640,000
$19,249
$2,208
$4,357
$7,912
$14,942
$27,959
$56,967
$135,744
$370,850
$1,404,667
$3,361
4,206
$555
80
$861
379
$1,140
952
$2,299
2,525
$4,317
6,314
$11,763
17,126
$18,500
36,646
$80,933
112,583
$223,333
184,500
3,398
10,965
339
974
501
1,741
813
2,905
1,572
6,396
3,579
14,210
8,141
37,030
17,476
72,622
139,467
332,983
433,334
841,167
CORPORATION
P rofits o n assets so ld o r ex c h a n g e d , recoveries,
a n d r e d u c tio n s in v a lu a tio n a llo w a n c e s :
Profits on securities sold or exchanged....................
Profits on other assets sold or exchanged...............
Recoveries and reductions in valuation allowances
on loans....................................................................
Recoveries and reductions in valuation allowances
on securities............................................................
All other recoveries and reductions in valuation
allowances................................................................
T o t a l p rofits o n a ssets so ld , recoveries, etc.
$500,000
$1,000,000 $2,000,000 $5,000,000 $10,000,000 More than
$50,000,000
to
to
to
to
to
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000
(2)
INSURANCE
N e t c u r r e n t o p e ra tin g e a r n in g s ...............................
$250,000
to
$500,000
DEPOSIT
C u rre n t o p e ra tin g e x p e n se s :
Interest on time and savings deposits......................
Interest and discount on borrow ings........................
Directors’ and professional fees..................................
Officers’ salaries..............................................................
Em ployees’ salaries and w ages...................................
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 ex p e n se s ...................
$100,000
to
$250,000
FEDERAL
C u rre n t o p e r a tin g e a r n in g s :
Interest and discount on loa n s...................................
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 r a tin g e a r n in g s ..................
$100,000
or
less
N et p ro fits b e fo re in c o m e taxes a n d d ivid en d s
Federal and State taxes on net in com e .....................
N et p ro fits a fte r in c o m e ta x e s ................................
C ash d iv id 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:
Interest paid on capital notes and debentures and
dividends declared on preferred stock. .
Dividends declared on common capital...................
T o t a l ca sh 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 .........................................
N et p rofits a fte r d iv id e n d s ...............................
$1,234
7,461
151
251
1,083
2,365
443
810
1,161
4,564
7,736
1,879
4,561
12,588
18,058
12,517
58,561
25,350
509,667
$661
3,100
$92
392
$160
835
$238
1,543
$447
2,687
$1,089
4,221
$2,295
7,589
$5,122
18,902
$11,567
57,300
$36,667
236,333
$2,616
$5,007
$8,546
$13,749
$19,937
$63,122
$37,867
$563,500
53,833
3,761
484
995
1,781
3,134
5,310
9,884
24,024
68,867
273,000
$3,700
$599
$1,370
$2,783
$4,602
$7,278
$8,174
$34,537
$-43,517
$236,667
$33
$15
36
15
$24
130
64
$444
572
896
$710
698
302
$2,890
1,683
232
$11,667
5,000
13,000
62
95
24
91
$52
93
44
17
34
240
79
297
69
1,981
18
1,728
4,524
9,329
16
29,683
$641
$1,302
43
8
253
$1,676
45
6
408
$4,555
1
31
597
$6,771
$16,329
$42,633
151
811
451
13,013
500
1,750
$253
235
267
5
99
859
1
O th e r d e d u c t io n s fr o m ca p ita l a c c o u n t s :
Preferred capital retired (par or face va lu e)..........
Common capital retired (par va lu e).........................
Premiums on preferred capital retired...............! . .
Payments on subordinated claim s............................
T otal
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 s ................................................................
$2,671
22
26
473
$279
3
18
111
3,192
300
752
1,606
2,135
5,184
7,733
29,793
44,883
320,833
N et c n a n g e in to ta l ca p ita l a c c o u n ts fo r y e a r . .
$1,367
$394
$709
$1,417
$2,764
$4,075
$2,169
$14,073
$-58,717
$-84,166
Total capital accounts, December 30, 1939 ..............
Total capital accounts, December 31, 191+0...........
138,571+
139,91+1
25,371+
25,768
35,835
36,51+1+
55,11+1
56,558
102,221+
101+,988
196,010
200,085
1+23,786
1+25,955
962,037
976,110
2,768,1+17
2,709,700
9,139,333
9,055,167
$301,860
336,934
418,066
45,152
$33,350
15,027
49,970
4,116
$63,183
44,942
99,078
5,727
102,463
212,930
$121,899
98,340
183,996
10,579
$229,365
208,534
344,572
22,397
$931,771
1,059,252
1,272,161
154,468
414,814
804,868
$461,247
450,620
638,967
57,537
1,608,371
$2,177,049
2,506,659
2,517,976
382,633
7,584,317
$5,842,217 $19,029,167
8,045,067 44.819.833
7,051,550
29.663.833
1,545,616
2,392,667
$55,003
21,531
$112,522
63,796
76,534
176,318
$208,972
148,834
$370,723
327,345
$9,469,200 $27,517,833
9,950,100
58,944,667
478
36,134
698,068
$3,276,220
3.290.317
487
25,442
357,806
1,178
55,830
2,873
103,927
$320,833
OF
$478,080
477,990
956,070
6,610
139,332
1,102,012
102,463
212,930
414,814
804,868
2.9
1.5
0.9
2.0
2.5
1.9
3.1
3.5
4.8
1.1
3,417,652
$710,215 $1,394,952
692,675
1,581,131
2,976,083
6,847
16,299
198,634
425,270
1,608,371
3,417,652
1,402,890
3.8
6.8
5.0
14.0
N ote :
19,419,300
47,134
970,646
338,133
2,727,017
312,500
9,130,500
7.584.317
22,484,450
95.905.500
7.6
33.8
14.1
116.1
21.5
255.5
f° r th*S gr0Up are not necessari|y typical of banks with deposits of more than $50,000,000.
Minus (-) indicates net loss or net decrease in total capital accounts.
Back figures
See the following Annual Reports:
95,905,500
6,566,537
Asset anu uaDiiity items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940
*
22,484,450
1939, p. 194; 1938, p. 220; 1937, p. 148; 1936, p. 170; 1935, p. 218 (revised); 1934, p. 238.
86.462.500
211
Number of active officers, December 3 1 ........
Number of other employees, Decem ber 31.
1,102,012
BANKS
LIABILITIES AND CAPITAL
Demand deposits............................................................
Time deposits............................................................
T o ta l d e p o s it s ....................................................
Miscellaneous liabilities...............................................
Total capital a ccou nts..................................................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s ..........
INSURED
A ssets a n d lia b ilit ie s :1
ASSETS
Cash and due from ban k s...........................................
Securities................................................................ ’ ' ’
L oans....................................................................! ! ! . '. '!
Miscellaneous assets.....................................................
T o ta l a s s e t s ...............................
EARNINGS
O th e r a d d itio n s to c a p ita l a c c o u n t s :
Preferred capital sold (par or face value) . . .
Common capital sold (par value)...................
Premiums on new capital sold .........................
Deposits waived and subordinated................
Assessments and other contributions.......................
T o t a l o t h e r a d d itio n s to ca p ita l a c c o u n ts
$8,284
823
Table 154.
212
RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS
Submitting R eports to the Federal D eposit I nsurance C orporation, 1940
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
All
banks
337
1,785
1,974
1,433
797
397
82
60
6
$56.22
22.28
$67.24
7.95
$67.48
13.69
$64.84
16.73
$63.63
19.20
$59.95
21.94
$55.07
24.17
$47.67
25.21
$43.05
24.23
$46.38
39.42
11.89
9.61
100.00
16.67
8.14
100.00
15.62
3.21
100.00
14.54
3.89
100.00
12.76
4.41
100.00
11.97
6.14
100.00
11.27
9.49
100.00
11.76
15.36
100.00
9.57
23.15
100.00
8.00
6.20
100.00
$17.34
.11
29.09
5.43
$7.41
.15
36.81
5.70
$11.98
.07
33.15
4.84
$15.01
.05
30.88
4.58
$17.06
.03
28.45
4.98
$17.66
.09
28.83
5.30
$18.64
.02
28.09
5.76
$16.59
$15.55
.46
29.89
6.72
$31.51
29.44
6.32
T o t a l cu r r e n t o p e r a tin g e x p e n se s ...................
5.32
14.38
71.67
5.66
16.32
72.55
4.84
14.89
69.77
4.49
14.02
69.03
4.55
13.77
68.84
4.66
14.31
70.85
5.30
14.36
72.17
5.25
15.54
73.14
7.46
15.68
75.76
5.46
10.93
74.13
N et c u r r e n t o p e r a tin g e a r n in g s ...............................
$28.33
$27.45
$30.23
$30.97
$31.16
$29.15
$27.83
$26.86
$24.24
$25.87
$2.26
.90
$3.99
.47
$3.38
.69
$2.95
.76
$2.76
.83
$2.40
.88
$2.09
.92
$1.76
.93
$1.67
.94
$1.43
1.21
.48
.38
4.02
.99
.49
5.94
.78
.15
5.00
.66
.18
4.55
.55
.19
4.33
.48
.25
4.01
.43
.36
3.80
.44
.57
3.70
.37
.90
3.88
.25
.19
3.08
$0.70
.00
1.17
.22
$0.44
.01
2.19
.34
$0.60
.00
1.66
.24
$0.68
.00
1.41
.21
$0.74
.00
1.23
.22
$0.71
.00
1.15
.21
$0.71
.00
1.07
.22
$0.61
$0.60
.02
1.16
.26
$0.97
1.10
.23
.21
.58
2.88
.34
.99
4.31
.24
.75
3.49
.20
.64
3.14
.20
.59
2.98
.19
.58
2.84
.20
.54
2.74
.19
.58
2.71
.29
.61
2.94
.17
.33
2.28
$1.14
$1.63
$1.51
$1.41
$1.35
$1.17
$1.06
$0.99
$0.94
$0.80
A m o u n ts per $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 loa n s...................................
Interest and dividends on securities.........................
Commissions, fees, and collection, exchange, and
service charges........................................................
Other current operating earning3..............................
G ro ss cu r r e n t o p e r a tin g e a r n in g s ..................
C u rre n t o p e r a tin g exp en ses:
Interest on time and savings deposits.....................
Interest and discount on borrow ings........................
Salaries, wages, and fe e s ..............................................
Taxes (other than on in com e)....................................
Other expenses of occupancy and maintenance of
banking quarters...................................................
A m o u n ts p er $100 o f to ta l a ssets1
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 ro ss cu r r e n t o p e r a tin g e a r n in g s ..............
C u rre n t o p e r a tin g e x p e n se s :
Interest on time and savings deposits.....................
Interest and discount on borrow ings........................
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 o p e ra tin g ex p e n se s...................
N et cu r r e n t o p e ra tin g e a r n in g s ...............................
22.74
3.49
.70
.11
CORPORATION
6,871
Number of banks3.................................................
INSURANCE
$250,000
to
$500,000
DEPOSIT
$100,000
to
$250,000
FEDERAL
$500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 More than
$50,000,000
to
to
to
to
to
(2)
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000
$100,000
or
less
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
Federal and State taxes on net in com e...................
N et p rofits 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 nts...............
Other deductions from total capital accounts........
N et ch a n g e in t o ta l c a p ita l a c c o u n t s ...............
Total capital accounts, December 30, 1 939...............
Total capital accounts, December 31, 191*0...........
$0.61
1.00
.75 i
.07
.68
.34
.34
.08
.29
.13
12.57
12.70
$0.52
.95
1.20
.15
1.05
.47
.58
.09
.28
.39
2 b .76
25.15
$0.53
.81
1.23
.12
1.11
.47
.64
.04
.35
.33
16.83
17.16
$0.50
.70
1.21
.11
1.10
.43
.67
.06
.39
.34
13.29
13.63
$0.51
.80
1.06
.10
.96
.39
.57
.04
.27
.34
12.70
13.01*
$0.57
.89
.85
.07
.78
.33
.45
.12
.32
.25
12.19
12. 1*1*
$0.61
1.09
.58
.05
.53
.29
.24
.05
.23
.06
12.1*0
12.1*6
$0.80
.96
.83
.06
.77
.31
.46
.12
.39
.19
12.68
12.87
$0.71
1.48
.17
.06
.11
.30
-0 .1 9
.13
.20
-0 .2 6
12.31
12.05
A m o u n t s p er $100 o f t o ta l ca p ita l
a ccou n ts1
N e t 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 e t p ro fits b e fo re in c o m e taxes a n d d iv id en d s
Federal and State taxes on net in com e...................
N e t p ro fits a fte r in c o m e t a 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 accou n ts...............
Other deductions from total capital accounts........
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 ...............
$9.00
4.81
7.87
5.94
.59
5.35
2.70
2.65
.62
2.29
.98
$6.57
2.11
3.83
4.85
.59
4.26
1.90
2.36
.37
1.18
1.55
$8.91
3.14
4.82
7.23
.69
6.54
2.75
3.79
.25
2.08
1.96
$10.48
3.69
5.20
8.97
.79
8.18
3.20
4.98
.43
2.88
2.53
$10.46
3.92
6.16
8.22
.78
7.44
3.02
4.42
.29
2.05
2.66
$9.45
4.62
7.15
6.92
.58
6.34
2.68
3.66
1.00
2.61
2.05
$8.48
4.91
8.70
4.69
.44
4.25
2.33
1.92
.41
1.82
.51
$7.77
6.21
7.48
6.50
.47
6.03
2.47
3.56
.96
3.07
1.45
$7.75
5.85
12.21
1.39
.46
.93
2.53
-1 .6 0
1.09
1.64
-2 .1 5
3.51
-0 .9 2
$5.95
$8.19
$7.26
$6.66
$6.44
$6.04
$5.61
$5.32
$5.32
$4.62
2.93
.£0
3,22
.47
3.25
.62
3.21
.62
3.21
.67
3.13
.81
2.96
.83
2.82
.94
2.63
.96
2.60
.70
1.61
.80
1.25
2.09
1.11
.53
2.00
.87
.84
1.91
.62
.97
1.82
.67
1.21
1.64
.68
1.40
1.53
.92
1.62
1.42
.73
1.46
1.36
1.15
1.40
1.58
.75
.41
ASSETS
Cash and due from ban ks...........................................
Securities..........................................................................
L oans.................................................................................
Miscellaneous assets......................................................
T o t a l a s s e t s ...............................................................
$27.39
30.57
37.94
4.10
100.00
$32.55
14.67
48.77
4.01
100.00
$29.67
21.11
46.53
2.69
100.00
$29.39
23.71
44.36
2.54
100.00
$28.50
25.91
42.81
2.78
100.00
$28.68
28.02
39.73
3.57
100.00
$27.26
30.99
37.22
4.53
100.00
$28.70
33.05
33.20
5.05
100.00
$25.98
35.78
31.36
6.88
100.00
$19.84
46.73
30.93
2.50
100.00
LIABILITIES AND CAPITAL
Demand deposits............................................................
Tim e deposits..................................................................
T o t a l d e p o s it s ..........................................................
Miscellaneous liabilities...............................................
T otal capital a ccou n ts..................................................
T o t a l lia b ilitie s a n d ca p ita l a c c o u n t s ...............
$43.38
43.38
86.76
.60
12.64
100.00
$53.68
21.01
74.69
.48
24.83
100.00
$52.84
29.97
82.81
.22
16.97
100.00
$50.38
35.88
86.26
.28
13.46
100.00
$46.06
40.67
86.73
.36
12.91
100.00
$44.16
43.06
87.22
.43
12.35
100.00
$40.82
46.26
87.08
.48
12.44
100.00
$43.20
43.38
86.58
.62
12.80
100.00
$42.11
44.26
86.37
1.50
12.13
100.00
$28.69
61.46
90.15
.33
9.52
100.00
.34
-0 .0 9
9.53
9.1*1*
$8.37
7.01
9.21
6.17
.59
5.58
2.99
2.59
Minus (-) indicates net loss on net decrease in total capital accounts.
Back figures— S ee
the following Annual Reports:
1939, p. 196; 1938, p. 222; 1937, p . 150; 1936, p. 172; 1935, p. 220; 1934, p. 240.
213
N ote :
BANKS
1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.
2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
*F or banks excluded, see footnote 2, Table 152.
OF INSURED
A ssets a n d lia b ilitie s p er $100 o f t o ta l a s s e ts :1
EARNINGS
S p e cia l r a t io s 1
Interest and discount on loans per $100 of total
loa n s..............................................................................
Interest and dividends on securities per $100 of
total securities............................................................
Profits on securities per $100 of total securities.. .
Interest on time and savings deposits per $100 of
tim e and savings deposits.................. .....................
Losses on loans per $100 of total loa n s...................
Losses on securities per $100 of total securities.. . .
$0.fi7
.88
.59
.06
.53
.28
.25
Table 155.
214
R atios of E arnings , E xpenses , and D isposition of P rofits of I nsured C ommercial B anks
Submitting R eports to the Federal D eposit I nsurance C orporation , 1940
BANKS GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH LOCATED
Banks in centers with population of—
All
banks
Salaries, wages, and fees..................................................
Other expenses of occupancy and maintenance of
banking quarters........................................................
Other current operating expenses.................................
T o ta l cu rren t op era tin g expetsses.....................
A m o u n ts per $100 o f to ta l a ssets2
C u rren t op era 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 cu rren t op era tin g e a r n in g s ....................
C u rre n t op 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 cu rren t o p erating e x p en ses.....................
N e t c u rren t op eratin g e a r n in g s ..................................
5.000
to
10.000
10,000
to
25,000
25.000
to
50.000
50,000
or more
6,871
574
1,246
1,550
1,468
682
462
337
143
411
$56.22
22.28
$71.08
15.22
$68.96
15.92
$61.34
19.08
$61.66
20.03
$58.68
23.31
$58.71
23.52
$54.79
25.11
$56.79
22.54
$48.36
23.79
11.89
9.61
100.00
11.60
2.10
100.00
12.24
2.88
100.00
13.06
3.52
109.00
13.90
4.41
100.00
12.84
5.17
100.00
10.60
7.17
100.00
10.44
9.66
100.00
9.53
11.14
100.00
11.72
16.13
100.00
i
j
i
!
$18.57
.05
30.13
3.76
$17.34
.06
29.93
4.40
$17.19
.04
29.71
4.72
$16.35
.04
29.34
5.18
$16.87
.01
29.06
4.93
$17.49
.01
28.62
5.81
$18.42
.01
27.95
5.98
$18.11
.14
26.70
6.05
$17.32
.25
29.50
5.72
5.32 |
14.38
71.67 !
4.31
13.78
70.60
3.94
14.12
69.79
4.16
13.77
69.59
4.30
13.81
69.02
4.43
13.67
68.97
4.41
14.32
70.66
5.33
14.44
72.13
5.11
14.52
70.63
6.78
15.00
74.57
$28.33 i!
$29.40
$30.21
$30.41
$30.98
$31.03
$29.34
$2 7.87
$29.37
$25.43
$2.26
.90 i
$3.15
.67
$3.13
.72
$2.83
.84
$2.62
.85
$2.34
.93
$2.28
.91
$2.04
.93
$2.13
.84
$1.91
.94
.48 1
.38 j
4.02 ;
.51
.09
4.42
.55
.13
4.53
.58
.15
4.40
.59
.19
4.25
.51
.21
3.99
.41
.29
3.89
.39
.36
3.72
.36
.41
3.74
.46
.63
3.94
$0.82
.00
1.33
.17
$0.79
.00
1.36
.20
$0.76
.00
1.31
.21
$0.69
.00
1.25
.22
$0.67
.00
1.16
.20
$0.68
.00
1.11
.23
$0.68
.00
1.04
.22
$0.68
.01
1.00
.23
$0.68
.01
1.16
.23
.21
.58 I'
2.88 |
.19
.61
3.12
.18
.63
3.16
.18
.60
3.06
.18
.59
2.93
.18
.54
2.75
.17
.56
2.75
.20
.54
2.68
.19
.53
2.64
.27
.59
2.94
$1.14 |
$1.30
$1.37
$1.34
$1.32
$1.24
$1.14
$1.04
$1.10
$1.00
$17.34
.11
29.09
5.43
|
$0.70
.00
1.17
.22
CORPORATION
N e t cu rren t o p era tin g e a r n in g s ..................................
2,500
to
5,000
INSURANCE
C u rren t op era tin g exp enses:
Interest on time and savings deposits........................
1,000
to
2,500
DEPOSIT
A m o u n t s per $100 o f gross earn in gs
C u rren t op era tin g e a rn in g s:
Interest and discount on loan s......................................
Interest and dividends on securities............................
Commissions, fees, and collection, exchange, and
service charges.............................................................
Other current operating earnings.................................
G ross cu rrent op era tin g e a r n in g s ....................
500
to
1,000
FEDERAL
Number of banks1......................................................
Less than
250
250
to
500
$0.49
.78
1.08
.10
.93
.38
.60
.04
.32
.32
u .u o
11/..72
$0.55
.78
1.11
.09
1.02
.40
.62
.04
.38
.28
1S.U1
13.69
$0.53
.77
1.08
.10
.98
.40
.58
.05
.33
.30
12.68
12.98
$0.55
.77
1.02
.08
.94
.39
.55
.05
.29
.31
12.27
12.58
$0.58
1.02
.70
.07
.63
.36
.27
.10
.27
.10
12.72
12.82
$0.59
1.06
.57
.05
.52
.29
.23
.09
.18
.14
12.16
12.30
$0.75
.86
.99
.05
.94
.27
.67
.04
.44
.27
12.88
13.15
$0.68
1.23
.45
.07
.38
.31
.07
.11
.27
-0 .0 9
12.15
12.06
A m o u n t s p er $100 o f t o ta l ca p ita l
a ccou n ts2
N et c u r r e n t o p e r a 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 re in c o m e taxes a n d d iv id en d s
Federal and State taxes on net in com e...................
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 accou n ts...............
Other deductions from total capital accounts........
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 ...............
$9.00
4.81
7.87
5.94
.59
5.35
2.70
2.65
.62
2.29
.98
$9.10
3.37
4.62
7.85
.62
7.23
2.40
4.83
.34
2.08
3.09
$9.43
3.39
5.36
7.46
.68
6.78
2.67
4.11
.26
2.18
2.19
$9.88
4.06
5.74
8.20
.64
7.56
2.94
4.62
.27
2.80
2.09
$10.22
4.14
5.96
8.40
.74
7.66
3.15
4.51
.36
2.57
2.30
$9.94
4.41
6.21
8.14
.61
7.53
3.10
4.43
.40
2.33
2.50
$8.93
4.53
8.02
5.44
.53
4.91
2.83
2.08
.75
2.08
.75
$8.45
4.84
8.62
4.67
.45
4.22
2.35
1.87
.73
1.46
1.14
$8.43
5.73
6.55
7.61
.38
7.23
2.09
5.14
.30
3.40
2.04
$8.30
5.59
10.13
3.76
.60
3.16
2.57
.59
.91
2.20
-0.70
$5.95
$6.36
$6.55
$6.43
$6.41
$6.05
$6.11
$5.67
$5.67
$5.55
2.93
.80
3.11
.68
3.20
.61
3.28
.70
3.24
.69
3.22
.73
3.12
.73
2.89
.87
2.82
.92
2.67
.86
1.61
.80
1.25
1.98
.57
.88
1.98
.65
1.17
1.91
.64
1.14
1.85
.71
1.07
1.76
.62
1.26
1.63
.82
1.62
1.57
.96
1.47
1.50
.61
1.32
1.41
.97
1.17
S p e cia l r a tio s 2
Interest and discount on loan3 per $100 of total
lo a n s.........................................................................
Interest and dividends on securities per $100 of
total securities........................................................
Profits on securities per $100 of total securities.. .
Interest on time and savings deposits per $100 of
time and savings deposits...................................
Losses on loans per $100 of total loans...................
Losses on securities per $100 of total securities. . .
A ssets a n d lia b ilit ie s :2
(Amounts in thousands of dollars)
36,207
29,242
66,718
2,624
134,791
99,304
81,939
173,473
8,597
363,313
175,760
161,077
276,744
14,725
628,306
278,266
241,072
375,225
24,336
918,899
220,691
215,903
289,459
23,413
749,466
220,207
219,231
279,500
29,625
748,563
234,369
276,522
307,481
38,346
856,718
126,412
134,930
168,873
20,486
450,701
682,865
955,158
935,056
148,088
2,721,167
LIA BILITIES AND CAPITAL
Demand deposits............................................................
Tim e deposits..................................................................
T o t a l d e p o s it s ..........................................................
Miscellaneous liabilities...............................................
T otal capital a ccou n ts..................................................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s ...........
59,330
55,994
115,324
192
19,275
134,791
165,463
144,303
309,766
766
52,781
363,313
293,142
248,675
541,817
1,303
85,186
628,306
453,860
344,825
798,685
1,997
118,217
918,899
367,601
286,500
654,101
2,108
93,257
749,466
339,052
312,046
651,098
1,907
95,558
748,563
376,231
372,792
749,023
2,649
105,046
856,718
186,484
203,268
389,752
2,148
58,801
450,701
1,043,728
1,315,863
2,359,591
32,347
329,229
2,721,167
3,284,891
3,284,266
6,569,157
45,417
957,350
7,571,924
1 For banks excluded, see footnote 2, Table 152.
1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.
N ote:
Minus (-) indicates net decrease in total capital accounts.
Bach figures — See
the following Annual Reports:
1939, p. 198; 1938, pp. 224-227; 1937, pp. 152-155; 1936, pp . 174-177.
215
ASSETS
Cash and due from ban ks........................................... 2,074,081
Securities.......................................................................... 2,315,074
L oans................................................................................. 2,872,529
Miscellaneous assets.....................................................
310,240
T o t a l a s s e t s .............................................................. 7,571,924
BANKS
$0.48
.66
1.12
.09
1.03
.34
.69
.05
.30
.44
n .n
1U-58
OF INSURED
$0.61
1.00
.75
.07
.68
.34
.34
.08
.29
.13
12.57
12.70
EARNINGS
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 iv id en d s
Federal and State taxes on net in com e ...................
N e t p ro fits a fte r i n c o m e t a 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 accou nts...............
Other deductions from total capital accounts........
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 ...............
Total capital accounts, December 30, 1 939...............
Total capital accounts, December 31, 191+0...............
Table 156.
216
RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS
Submitting R eports to the F ederal D eposit I nsurance C orporation, 1940
BANKS GROUPED ACCORDING TO RATE OF NET EARNINGS
Banks with net current operating earnings per $100 of total assets of— 1
All
banks
A m o u n ts p er $100 o f t o ta l assets1
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 ..................
C u rre n t o p e ra tin g exp en ses:
Interest on time and savings deposits.....................
Interest and discount on borrow ings........................
Salaries, wages, and fe e s .............................................
Taxes (other than on incom 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 ra tin g ex 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 ...............................
$1.00
to $1,49
$1.50
to $1.99
$2.00
to $2.49
$2.50
to $2.99
$3.00
or more
6,871
19
57
385
1,586
2,125
1,491
637
301
220
$56.22
22.28
$39.10
28.53
$45.73
26.62
$38.78
25.13
$50.20
26.57
$57.09
25.07
$62.81
19.02
$64.64
14.74
$68.63
8.80
$69.05
6.28
11.89
9.61
100.00
14.10
18.27
100.00
14.33
13.32
100.00
12.73
23.36
100.00
11.05
12.18
100.00
9.75
8.09
100.00
12.37
5.80
100.00
15.54
5.08
100.00
16.07
6.50
109.00
20.19
4.48
100.00
$17.34
.11
29.09
5.43
$25.32
.32
55.13
9.94
$18.60
.25
46.11
6.62
$16.22
.95
39.32
7.19
$18.62
.01
31.07
6.48
$20.94
.02
26.58
5.06
$14.64
.09
27.03
4.99
$11.55
.09
27.60
4.35
$11.08
.06
27.54
3.52
$9.73
.11
26.32
3.62
5.32
14.38
71.67
12.82
24.68
128.21
11.34
20.14
103.06
9.70
17.84
91.22
6.07
16.05
78.30
4.73
13.00
70.33
3.96
13.17
63.88
4.42
14.17
62.18
3.92
14.06
60.18
4.33
12.33
56.44
$28.33
$-28.21
$-3.06
$8.78
$21.70
$29.67
$36.12
$37.82
$39,82
$43.56
$2.26
.90
$0.93
.68
$1.28
.75
$1.22
.79
$1.72
.91
$2.24
.98
$2.87
.87
$3.70
.84
$4.57
.59
$5.78
.53
.48
.38
4.02
.34
.43
2.38
.40
.37
2.80
.40
.74
3.15
.38
.41
3.42
.38
.32
3.92
.56
.26
4.56
.89
.29
5.72
1.07
.43
6.66
1.69
.37
8.37
$0.70
.00
1.17
.22
$0.60
.01
1.31
.24
$0.52
.01
1.29
.19
$0.51
.03
1.24
.23
$0.64
.00
1.06
.22
$0.82
.00
1.04
.20
$0.67
.00
1.23
.23
$0.66
.00
1.58
.25
$0.74
.00
1.84
.23
$0.81
.01
2.20
.30
.21
.58
2.88
.30
.59
3.05
.32
.56
2.89
.31
.55
2.87
.21
.55
2.68
.19
.51
2.76
.18
.60
2.91
.25
.82
3.56
.26
.94
4.01
.36
1.04
4.72
$1.14
$-0.67
$-0.09
$0.28
$0.74
$1.16
$1.65
$2.16
$2.65
$3.65
CORPORATION
N et cu r r e n t o p e ra tin g e a r n in g s ...............................
$0.50
to $0.99
INSURANCE
C u rre n t o p e ra tin g e x p e n se s :
Interest on time and savings deposits.....................
Interest and discount on borrow ings........................
Salaries, wages, and fe e s .............................................
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 cu r r e n t o p e ra tin g e x p e n se s...................
$0.00
to $0.49
DEPOSIT
A m o u n t s p er $100 o f gross e a 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 loa n s...................................
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 ..................
$-0.01
to $-0.49
FEDERAL
Number of banks2.................................................
$-0.50
or more
A m o u n t s p er $100 o f t o ta l ca p ita l
a ccou n ts1
N et cu r r e n t o p e r a tin g e a r n in g s ......................
R ecoveries, 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 iv id en d s
Federal and State taxes on net in com e...............
N et p ro fits a fte r in c o m e t a 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 accou nts...........
Other deductions from total capital a ccou n ts..
N et c h a n g e in t o t a l c a p ita l a c c o u n t s ...........
$9.00
4.81
7.87
5.94
.59
5.35
2.70
2.65
.62
2.29
.98
$ 4 .9 3
10.09
11.27
- 6.11
.39
-6.50
1.40
-7.90
6.61
.78
-2 .0 7
$-0.75
10.63
10.10
$5.95
2.93
.80
1.61
.80
1.25
S p e cia l r a t io s 1
Interest and discount on loans per $100 of total
loans.........................................................................
Interest and dividends on securities per $100 of
total securities...................................................
Profits on securities per $100 of total securities
Interest on time and savings deposits per $100 of
time and savings deposits.................................
Losses on loans per $100 of total loa n s.................
Losses on securities per $100 of total securities. .
$ 1.21
11.1+9
12.17
11.96
$0.59
.94
.81
.06
.75
.32
.43
.05
.29
.19
11.98
12.17
.35
-0 .5 7
1.14
-1.71
.97
2.64
-3 .3 8
$2.39
6.19
8.50
.08
.10
- 0.02
1.33
-1 .3 5
1.52
1.47
-1 .3 0
$6.16
5.11
8.73
2.54
.29
2.25
2.17
.08
.73
2.57
-1 .7 6
$9.61
4.88
7.79
6.70
.51
6.19
2.66
3.53
.41
2.39
1.55
$12.18
4.11
6.80
9.49
.74
8.75
3.17
5.58
.44
2.47
3.55
$13.72
3.15
6.73
10.14
1.17
8.97
3.84
5.13
.35
1.96
3.52
$17.20
4.66
7.52
14.34
1.96
12.38
5.41
6.97
.23
1.51
5.69
$18.96
2.62
5.67
15.91
2.58
13.33
5.24
8.09
.44
1.77
6.76
$5.81
$4.67
$4.79
$5.35
$5.60
$6.39
$7.50
$ 8.12
$9.37
2.64
3.50
2.35
2.32
2.39
1.22
2.71
.80
3.04
.67
3.39
.77
3.59
.58
3.28
.84
3.69
.56
1.22
.95
2.28
1.46
1.99
1.44
1.25
.73
.95
1.52
.84
1.24
1.67
.70
1.32
1.70
.76
1.31
1.86
.99
1.06
1.84
1.17
1.62
1.95
.96
1.39
-
0.88
.11
-0 .2 8
13.79
13.51
1.15
-0 .0 3
.03
-0.06
.13
-0.19
.11
.30
-0 .3 8
11.61
11.23
-
0.22
$0.71
.98
.01
.01
-0 .0 0
.16
-0.16
.18
.17
-0 .1 5
11.6 k
A ssets a n d lia b ilit ie s :1
ASSETS
Cash and due from b an k s.........................................
Securities........................................................................
L oans...............................................................................
Miscellaneous assets...................................................
T o t a l a s s e t s ............................................................
$0.62
1.05
.31
.04
.27
.26
.01
.09
.31
-
0.21
$0.72
1.16
$0.56
.93
1.28
.10
1.18
.43
.75
.06
.33
.48
13.27
13.75
$0.50
1.06
1.60
.19
1.41
.60
.81
.05
.30
.56
15.1+2
15.98
.30
1.91
.84
1.07
.04
.23
.88
11+.87
15.75
$0.50
1.09
3.06
.50
2.56
1.01
1.55
.09
.34
1.30
18.55
19.85
2.21
(Amounts in thousands of dollars)
.
.
.
.
.
2,074,081
2,315,074
2,872,529
310,240
7,571,924
7,130
3,376
2,099
522
13,127
20,969
17,752
15,365
1,886
55,972
268,270
252,082
194,342
48,492
763,186
701,996
784,353
750,456
105,917
2,342,722
618,221
828,646
1,025,867
96,046
2,568,780
275,175
268,650
470,124
34,284
1,048,233
106,877
104,824
219,681
14,482
445,864
50,360
38,314
120,705
4,812
214,191
25,083
17,077
73,890
3,799
119,849
LIABILITIES AND CAPITAL
Demand deposits.......................................................... , 3,284,891
Tim e deposits................................................................ , 3,284,266
T o t a l d e p o s it s ........................................................
6,569,157
Miscellaneous liabilities.............................................
45,417
Total capital a ccou n ts................................................
957,350
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s ......... 7,571,924
4,880
6,454
11,334
9
1,784
13,127
29,468
19,978
49,446
167
6,359
55,972
352,205
312,790
664,995
9,986
88,205
763,186
1,070,562
981,073
2,051,635
8,967
282,120
2,342,722
990,834
1,258,373
2,249,207
8,929
310,644
2,568,780
491,597
411,164
902,761
3,634
141,838
1,048,233
210,668
158,286
368,954
6,607
70,303
445,864
91,370
86,191
177,561
8,587
33,043
214,191
43,307
49,957
93,264
3,531
23,054
119,849
1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.
2 For banks excluded, see footnote 2, Table 152.
N ote:
Minus (—) indicates net deficit, net loss, or net decrease in total capital accounts.
Back figures— See the following Annual Reports:
1939, p. 200; 1938, pp. 228-231; 1937, pp. 156-159; 1936, pp. 182-185.
BANKS
.19
-1.07
.90
.68
$1.37
1.53
-0.83
.05
OF INSURED
.84
.34
.08
.29
.13
12.57
12.70
$0.61
1.00
.75
.07
EARNINGS
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 iv id en d s
Federal and State taxes on net in com e...................
N e t p ro fits 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 accou nts...............
Other deductions from total capital accounts........
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 ...............
Total capital accounts, December 30, 1 939 .................
Total capital accounts, December 81, 191+0.................
to
h-*
-3
Table 157.
RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS
Submitting R eports to the Federal D eposit I nsurance C orporation , 1940
BANKS GROUPED ACCORDING TO RATE OF INCOME ON LOANS1
Banks with income on loans1 per $100 of total loans of— 2
All
banks
$7.00
to $7.99
$8.00
to $8.99
$9.00
to $9.99
$10.00
to $11.99
$12.00
or more
97
565
1,889
1,922
1,096
599
306
259
138
$56.22
22.28
$30.00
31.60
$42.68
27.97
$56.67
25.04
$60.60
21.05
$65.05
16.15
$67.87
13.29
$75.45
6.07
$74.52
7.53
$78.07
8.30
14.76
23.64
10.87
18.48
9.88
8.41
15.24
3.60
16.24
2.24
15.28
2.67
11.22
2.41
100.00
100.00
12.14
6.21
100.00
14.15
4.65
100.00
100.00
100.00
100.00
100.00
100.00
$17.34
.11
29.09
5.43
$12.37
.00
33.12
6.53
$17.60
.42
29.76
6.39
$21.56
.03
26.87
5.26
$17.16
.02
28.67
5.41
$14.20
.13
30.68
5.18
$10.69
.07
32.21
4.93
$11.97
.12
31.24
3.88
$9.25
.07
31.26
3.93
$9.21
.15
31.91
3.21
5.32
14.38
4.98
13.73
72.43
4.55
13.69
69.50
4.53
14.36
69.08
5.38
13.96
67.24
5.14
17.42
69.77
65.60
67.77
N et cu r r e n t o p e r a tin g e a r n in g s ...............................
$28.33 !
$22.23
$25.28
$27.57
$30.50
$30.92
$32.76
$30.23
$34.40
$32.23
$2.26
.90
$0.88
.92
$1.49
.98
$2.13
.94
$2.57
.89
$3.04
.76
$3.54
.69
$5.57
.45
$5.13
.52
$6.08
.65
.48
.38
4.02
.43
.69
2.92
.38
.65
.37
.32
.51
.27
.66
.22
.80
.19
3.50
3.76
4.24
4.68
5.22
1.20
.16
7.38
1.05
.18
6.88
7.78
$0.36
.00
.97
.19
$0.62
.01
1.04
.22
$0.81
.00
1.01
.20
$0.73
.00
1.22
.23
$0.66
.01
1.44
.24
$0.56
.00
1.68
.26
$0.88
.01
2.31
.29
$0.64
.00
2.15
.27
$0.72
.01
2.48
.25
A m o u n ts per $100 o f to ta l a ssets2
C u rre n t o p e r a 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 cu r r e n t o p e ra tin g e a r n in g s ..................
i1
C u rre n t op era tin g expenses :
Interest and discount on borrowings..........................
Salaries, wages, and fees..................................................
Taxes (other than on income)........................................
Other expenses of occupancy and maintenance of
banking quarters.........................................................
Other current operating expenses.................................
$0.70
.00
1.17
.22
.21
.58 I
.25
.50
.22
.51
.19
.51
.19
.58
.21
.67
.28
.73
.38
1.28
.35
1.10
.50
1.31
2.62
2.72
2.95
3.23
3.51
5.15
4.51
5.27
$0.88
$1.04
$1.29
$1.45
$1.71
$2.23
$2.37
$2.51
T o t a l cu r r e n t o p e ra tin g e x p e n se s...................
2.88
2.27
N et cu r r e n t o p e r a tin g e a r n in g s ...............................
$1.14
$0.65
.87
.18
CORPORATION
6.18
14.37
74.72
6.45
16.84
71.67 j
8.50
17.25
77.77
5.11
15.98
T o t a l cu r r e n t o p e r a tin g e x p e n se s...................
INSURANCE
11.89
9.61
1G0.G0
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 fe e s..................................................
Taxes (other than on incom e)........................................
Other expenses of occupancy and maintenance of
banking quarters............................................. v . . . .
Other current operating expenses.................................
$6.00
to $6.99
DEPOSIT
G ross c u r r e n t o p e r a tin g e a r n in g s ..................
$5.00
to $5.99
6,871
A m o u n t s p er $100 o f gross e a 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.................................
$4.00
to $4.93
FEDERAL
Number of banks3......................................................
Less than
$4.00
$0.61
1.00
.75
.07
.68
.34
.34
.08
.29
.13
12.57
12.70
$ 0.68
1.73
-0.40
.03
-0.43
.26
-0.69
.12
A m o u n t s p e r $100 o f t o t a l ca p ita l
a ccou n ts2
N et c u rre n t o p e r a t in g e a r n in g s .............
R ecoveries, 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
Federal and State taxes on net in com e ...........
N et p ro fits a fte r i n 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 a ccou n ts. . . .
Other deductions from total capital accounts
N et ch a n g e in t o ta l ca p ita l a c c o u n t s . . . .
$9.00
4.81
7.87
5.94
.59
5.35
2.70
2.65
.62
2.29
.98
$5.65
5.91
15.01
-3.45
.32
-3.77
2.25
$0.63
.91
.76
.05
.71
.31
.40
.04
11+.62
$0.49
.91
1.95
.33
1.62
.78
.84
.01
.30
.55
16.12
16.67
.49
17.78
18.27
?.«7
$11.85
3.91
5.13
10.63
1.10
9.53
3.83
5.70
.03
2.41
3.32
$17.11
4.99
7.94
14.16
2.13
12.03
5.63
6.40
.71
1.57
5.54
$14.37
3.00
5.53
11.84
1.98
9.86
4.76
5.10
.05
1.81
3.34
$13.81
2.79
6.88
9.72
1.74
7.98
4.75
3.23
.05
.57
2.71
$6.38
$7.38
$8.40
$9.49
$10.80
$13.73
3.16
.80
3.15
.63
3.36
.57
3.55
.97
3.29
.52
3.35
.31
1.75
.75
1.45
.79
.93
1.96
1.02
.60
1.92
.98
1.71
1.96
1.12
.79
2.04
2.11
.51
.22
12.08
12.30
$8.50
5.13
7.38
6.25
.44
5.81
2.52
3.29
.37
1.85
1.81
$10.01
4.61
7.46
7.16
.64
6.52
2.71
3.81
.72
2.79
1.74
$ 10.88
4.04
5.55
9.37
1.05
1.92
-6.89
$7.03
4.78
8.15
3.66
.31
3.35
2.08
1.27
.95
2.63
-0.41
$5.95
$3.45
$4.55
$5.42
2.93
.80
2.41
.94
2.79
.85
2.95
.78
1.61
.80
1.25
1.00
1.39
1.00
1.43
.90
1.13
1.63
.62
1.38
.22
-0.79
11.99
11.20
-
6.02
A sse ts a n d lia b ilit ie s :2
.22
.12
1.13
.43
.70
.08
.38
.40
13.01+
1 3 .U
.86
8.51
3.24
5.27
.58
2.88
11+.11+
$0.51
1.25
1.77
.32
1.45
.86
.59
.01
.11
(Amounts in thousands of dollars)
ASSETS
Cash and due from ban k s.........................................
Securities........................................................................
L oans...............................................................................
Miscellaneous assets...................................................
T o t a l a s s e t s .............................................................
2,074,081
2,315,074
2,872,529
310,240
7,571,924
195,439
238,666
158,286
29,763
622,154
409,441
545,290
509,655
88,211
1,552,597
685,070
859,127
1,058,305
109,031
2,691,533
428,285
432,301
615,929
52,995
1,529,510
181,017
135,582
233,272
16,253
566,124
90,606
53,912
110,109
6,447
261,074
53,982
25,576
118,805
3,964
202,327
35,133
16,197
48,859
2,769
102,958
15,108
8,423
19,309
807
43,647
LIABILITIES AND CAPITAL
Dem and deposits..........................................................
Tim e deposits................................................................
T o t a l d e p o s it s ........................................................
Miscellaneous liabilities.............................................
T otal capital a ccou n ts................................................
T o t a l lia b ilitie s a n d ca p ita l a c c o u n t s .........
3,284,891
3,284,266
6,569,157
45,417
957,350
7,571,924
322,091
224,689
546,780
3,771
71,603
622,154
673,458
670,588
1,344,046
13,133
195,418
1,552,597
1,016,532
1,337,840
2,354,372
8,652
328,509
2,691,533
691,339
635,618
1,326,957
4,875
197,678
1,529,510
288,009
199,595
487,604
3,298
75,224
566,124
147,429
74,222
221,651
1,767
37,656
261,074
75,760
92,938
168,698
7,246
26,383
202,327
50,955
33,406
84,361
1,648
16,949
102,958
19,318
15,370
34,688
1,029
7,930
43,647
1 Incom e on loans consists of the amount reported against the caption, “ Interest and discount on loans,” which includes renewal, mortgage, and other fees charged in con
nection with loans owned by the bank.
2 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.
3 For banks excluded, see footnote 2, Table 152.
N o te:
Minus (-) indicates net loss or net decrease in total capital accounts.
BANKS
$0.54
.74
1.25
.46
.04
.42
.26
.16
.12
.33
-0 .0 5
12.60
12.55
$0.56
.74
1.53
.16
1.37
.55
.82
.01
.35
.48
$0.65
1.03
1.85
.28
1.57
.73
.84
.09
.21
.72
12.61
13.33
$0.60
.96
.93
.09
.84
.35
.49
.09
.36
22
12\82
13.01+
1.02
OF INSURED
S p ecia l ra t io s 2
Interest and discount on loans per $100 of total
lo a n s.........................................................................
Interest and dividends on securities per $100 of
total securities...................................................
Profits on securities per $100 of total securities.. .
Interest on time and savings deposits per $100 of
time and savings deposits.................................
Losses on loans per $100 of total loa n s.................
Losses on securities per $100 of total securities. .
$0.60
EARNINGS
Recoveries, profits on securities, etc............
Losses and depreciation on assets.................
N e t p rofits b e fo re in c o m e taxes a n d d ivid en d s
Federal and State taxes on net in com e ...........
N et p rofits a fte r i n c o m e t a 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 a ccou n ts. . . .
Other deductions from total capital accounts
N e t ch a n g e in t o ta l c a p ita l a c c o u n t s . . . .
Total capital accounts, December 30, 1 93 9 . . . .
Total capital accounts, December 31, 191+0. . . .
tND
I—*
CO
220
T a b le 158.
EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED MUTUAL SAVINGS BANKS,
1934-1940
(Amounts in thousands of dollars)
1935
1937
1936
1939
1938
1940
56
56
56
48
51
53
C u rre n t o p e r a tin g e a rn in g s:
Interest and discount on loa n s...............................................................................
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 tin g e a r n in g s ..............................................................
25,059
18,866
44
3,850
47,819
20,769
17,152
104
4,707
42,732
18,893
16,551
132
5,805
41,381
18,759
15,649
228
7,412
42,048
20,328
15,581
321
8,241
44,471
25,075
22,489
168
9,224
56,956
27,879
32,251
95
10,740
70,965
C u rre n t o p e ra tin g exp en ses:
Interest and discount on borrowings
C1)
0)
34
201
1,360
2,048
3,800
751
7,619
15,813
4
236
1,320
2,141
4,128
700
7,774
16,303
180
1,808
3,361
4,798
931
8,628
19,706
285
2,137
4,827
5,489
1,461
8,343
22,542
3,162
22,8 66
394
5,474
11,943
23,049
3124
6,554
12,889
18
162
1,254
1,928
3,111
606
7,270
14,349
N et cu r r e n t o p e r a tin g e a r n in g s ...........................................................................
35,876
29,843
27,032
26,235
28,168
37,250
48,423
P rofits o n assets sold o r ex c h a n g e d , recoveries, a n d r e d u c tio n s in
v a lu a tio n a llo w a n ce s:
Profits on securities sold or exchanged................................................................
Profits on other assets sold or exchanged...........................................................
Recoveries and reductions in valuation allowances on loans.........................
Recoveries and reductions in valuation allowances on securities......... ..
All other recoveries and reductions in valuation allowances...........................
T o t a l p rofits o n assets s o ld , recoveries, e t c ............................................
1,355
(4)
702
833
2,591
5,481
2,457
(4)
1,813
1,170
1,527
6,967
4,032
1,843
999
263
4,524
11,661
3,466
2,414
774
93
3,675
10,422
4,244
2,250
693
108
1,057
8,352
8,207
781
345
1,163
3,436
13,932
6,885
373
405
1,615
2,964
12,242
N et ea rn in g s, p rofits a n d recov eries o n assets, e t c ......................................
41,357
36,810
38,693
36,657
36,520
51,182
60,665
L osses, c h a r g e -o ffs , a n d a d d itio n s t o v a lu a tio n a llo w a n ce 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 .........................................................................
2,567
5,300
3,230
11,097
2,557
3,276
2,642
8,475
1,656
3,101
6,868
11,625
4,874
7,089
3,266
15,229
1,127
13,409
13,810
28,346
2,446
9,914
13,701
26,061
18,230
14,144
15,280
47,654
...............................
\
t
(
CORPORATION
3,509
.•
Officers’ salaries.......................................................................................................... |
Employees' salaries and w ages...............................................................................
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 cu r r e n t o p e ra tin g e x p e n se s...............................................................
INSURANCE
68
DEPOSIT
Number of banks...............................................................................................
FEDERAL
1934
Net profits before incom e taxes and dividends............................................
Federal and State taxes on net in com e......................................i ...........................
Net profits available for distribution to depositors and for addition
to capital fu n d s.................................................................................................
Interest and dividends paid depositors and interest paid on capital:
Interest and dividends paid depositors.............................................................
Interest paid on capital notes and debentures................................................
T otal interest and dividends.....................................................................
Net profits after interest and dividends.......................
(6)
(5)
(6)
(5)
27,068
6
21,428
8
8,174
30,260
28,335
27,062
21,420
26,701
1,550
28,251
22,132
19,607
19,262
297
479
407
22,429
2G,G86
19,669
2,009
5,906
6,976
1,751
-11,531
Other additions to capital accounts:
Capital notes and debentures issued (face va lu e).........
Assessments and other contributions................................
T otal other additions to capital accounts..........
Other deductions from capital accounts:
Capital notes and debentures retired (face value)........
Payments on subordinated claim s......................................
Total other deductions from capital accounts.
(6)
Net change in total capital accounts for year..........
(6)
Total capital accounts at beginning of year...........................
Total capital accounts at end of yea r......................................
N um ber of active officers, December 31. . .
N um ber of other employees, December 31.
1 Included with “ interest paid on capital notes and debentures,*’
2 Includes income taxes.
3 “ Depreciation on banking house, furniture and fixtures” only.
4 Included with recoveries.
s N ot available. See footnote 2.
8 N ot available.
N ote:
8,166
25,092
12,894
19, 04
26,550
359
31,3G3
393
19,697
26,909
405
31,768
-18,874
25
81
24
105
565
26
591
159
40
199
729
25
B
>
711
18
(6)
5,935
1,664
-10,525
-1,991
-19,603
(°)
(S)
(6)
(6)
125,772
131,707
131,707
133,371
132,670
122^5
15 If.,5 20
152,529
180,203
160,600
(6)
(6)
(6)
(6)
244
1,183
250
1,238
232
1,217
273
1,858
310
2,693
See the Annual Report for 1938, page 120.
Minus (-) indicates net loss or net decrease in total capital accounts.
1,050
35
1,085
13,011
117
1,576
21
1,597
44
44
(6)
29
25,121
2
t—f
£
a
OQ
2
U1
a
w
B
C
W
>
«
w
to
to
SUSPENSIONS, RECEIVERSHIPS, AND MERGERS
N U M B E R AND DEPOSITS OF BAN KS W H IC H SUSPENDED OPERATIONS,
222
Table 159.
1934-1940
GROUPED ACCORDING TO CLASS OF BANK AND BY Y E A R , AMOUNT OF DEPOSITS, AND STATE
Deposits (in thousands of dollars)1
Number
Insured banks
Insured banks
Total
Total
National
6
207
86
132,050
91,146
14,822
2
8
22
40
47
48
8
3
6
36,937
9,852
11,412
19,722
1,952
9,005
10,820
19,242
40
5,263
507
7,379
State
Total
Total
N on
insured
banks2
National
26,548
49,776
40,904
1,708
1,912
3,742
10,313
10,155
34,985
847
592
480
11,722
6,588
5,344
31,203
2,439
358
State
U n ited S ta tes— t o t a l .........................................
315
229
16
C alen d a r yea r
1934
..................................
1935
....................................
1936
........................................
1937 ....................................................................
57
34
44
59
9
26
41
53
1
4
1
4
56
42
23
49
32
19
1
4
1
1
3
47
25
18
7
10
4
313,172
34,997
5,958
11,969
32,558
5,600
36
1,341
256
w ith d e p o sits o f — 1
or less
to $250,000.......................................
to $500,000.......................................
124
102
48
86
79
31
2
2
7
2
1
84
75
23
38
23
17
7,073
15,951
16,465
5,042
12,437
10,447
76
376
2,318
313
365
4,966
11,748
7,764
2,031
3,514
6,018
$500 000 to $1,000,000
$1 000 000 to $2 000 000
$2,000,000 to $5,000,000................................
21
9
8
18
9
5
1
2
2
1
1
17
6
2
3
3
15,100
12,574
23,104
12,756
12,574
16,223
507
3,456
8,089
1,343
2,860
12,249
7,775
5,274
9,881
2
1
1
17,116
21,667
21,667
1938 ....................................................................
1939.......................................................................
1940
............................................................
B an ks
$100 000
$100,000
$250,000
S ta te
Alabama
Arkansas
California
Colorado
Connecticut
Georgia
Illinois
Indiana
Kansas
««
•
. . .
...............................................
•
...........
................................ ..
2
1
5
1
1
2
1
2
9
7
31 j
8 I
10
7
5
14
4
5
1
1
5
1
5
1
1
1
1
1
1
1
7
4
14
3
4
2
2
17
4
5
2,344
17,116
100
1,081
84
8
1,514
100
1,081
1,013
3,884
5,704
4,805
944
967
3,743
3,416
4,097
552
21,667
100
1,081
84
8
1,514
8
1,050
464
102
3,594
256
967
3,641
3,416
503
296
46
141
2,288
708
392
CORPORATION
$5 000 000 to $10 000 000
$10 000 000 to $50 000 000
M ore than $50 000 000
211
24,629
INSURANCE
N ot
members
F. R .
System
Members F. R.
System
DEPOSIT
N on
insured
banks2
FEDERAL
N ot
members
F. R.
System
Members F. R.
System
23
4
2
4
4
19
3
2
2
4
Mississippi
M issouri...........
M on tana..........
N ebraska..........
New J ersey.. . .
2
46
3
8
19
2
32
3
4
11
New Y o r k ........
N orth D a k o ta .
O hio...................
Oklahom a........
Pennsylvania. .
3
19
5
7
South Carolina
South Dakota.
Tennessee........
T exas.................
V erm on t...........
Virginia.............
W est Virginia. .
W isconsin........
sands ^f^doUars0^ *nsur0(^ ^anks are as
6,445
1,697
828
3294
552
4,639
1,654
828
81
552
2
32
2
3
7
153
6,719
213
965
53,031
153
4,671
213
532
30,917
1
18
2
5
6
18
1
5
4
9,041
1,524
2,964
889
9,166
1,982
1,509
2,242
825
8,699
3
22
10
18
1
1
22
8
16
1
1
20
8
15
1
347
2,759
1,679
3,645
2,479
136
2,759
1,389
3,071
2,479
5
3
21
3
3
17
1
2
17
1,025
1,649
4,849
558
1,649
4,130
date of suspension; deposits of noninsured banks are as of latest report prior to suspension.
1,474
40
194
3,165
1,654
828
81
267
' 4,824
507
36
495
410
433
22,114
1,509
1,981
825
3,875
7,059
15
722
64
467
211
63
1,239
4,130
467
290
574
719
Figures for each bank are rounded to thou-
For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with F D IC aid, see pages 90-91.
MERGERS
223
2,048
136
2,041
1,389
3,035
2,479
- Excludes noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation.
3 Revised.
N o te :
3213
153
4,671
173
338
4,682
1,982
261
1,806
43
SUSPENSIONS, RECEIVERSHIPS, AND
K en tu ck y.........
Louisiana.........
M arylan d.........
M ichigan..........
M innesota........
224
T able 160.
N umber AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD
of the Federal D eposit I nsurance C orporation, 1935-1940
GROUPED ACCORDING TO CLASS OF BANK AND B Y Y E A R , AMOUNT OF DEPOSITS, AND STATE
Total
National
State
Banks not
members
F. R.
System
Total
National
Disbursement (in thousands of dollars)2
Total
State
Banks not
members
F. R.
System
Banks members
F. R. System
Banks members
F. R. System
National
Banks not
members
F. R.
System
156,652
148,956
17,972
73,715
57,269
1
27
25
4,357
16,696
18,296
2,166
12,246
3,734
648
4,357
10,796
5,402
2,865
6,771
7,125
783
4,946
1,552
97
2,865
4,436
2,082
1938.
1939.
1940.
24
28
24
50,054
125,145
138,172
4,631
18,100
10,818
22,564
1,187
119,974
22,859
105,858
7,380
21,386
41,571
69,238
1,810
6,703
3,730
8,595
703
62,768
10,981
34,165
2,740
Banks with deposits of— 1
$100,000 or less..........................
$100,000 to $250,000.................
$250,000 to $500,000................
23
22
19
1,426
3,678
6,838
161
127
2,185
1,265
3,551
4,653
643
1,309
3,083
71
23
696
$500,000 to $1,000,000.. .
$1,000,000 to $2,000,000.
$2,000,000 to $5,000,000.
19
18
16
14,637
26,010
50,645
4,457
10,105
22,077
648
2,461
10,539
9,532
13,444
18,029
6,912
10,648
20,971
2,512
3,574
8,327
6
6
41,721
207,765
32,872
73,306
16,504
88,886
2,769
134,459
143
861
97
29
3,616
143
861
97
17
2,050
5,769
1,425
240
3,528
3,707
1,234
1,076
72
1,093
2,374
$5,000,000 to $10,000,000. .
$10,000,000 to $50,000,000.
More than $50,000,000........
10
89
State
A labam a. .
C alifornia.
Florida
G eorgia. . .
Illinois. . . .
428
1,078
274
29
4,780
Ind iana. . .
Io w a ..........
K a n sa s.. . .
K en tu ck y.
M arylan d.
5,769
5,019
240
3,528
3,707
8,8
428
1,078
274
1,164
3,594
220
572
1,286
2,387
97
1,532
3,860
4,303
5,542
8,784
13,735
20,660
17
1,856
1,234
856
72
1,093
2,374
CORPORATION
148,107
129
INSURANCE
47,961
Calendar year
193 5
193 6
193 7
DEPOSIT
352,720
United States— total.
FEDERAL
Deposits (in thousands of dollars)1
Number
Banks members
F. R. System
2
3
11
1
1
New Jersey........
New Y o r k ..........
North Carolina.
North D a k ota . .
Oklahom a...........
25
16
4
11
2
151,731
109,138
869
2,292
586
13,764
18,448
29,067
85,944
Pennsylvania. . ,
South D a k o ta ..
Tennessee...........
Texas...................
V erm ont.............
5
1
4
1
1
36,545
127
322
78
352
2,679
127
29,362
1
10
4,085
1,548
2,676
Virginia...............
W ashington. . . .
W isconsin...........
3,042
12,221
1,876
83
297
2,233
1,729
3,734
809
6,758
1,876
1,564
4,795
582
27
117
1,298
730
108,900
4,746
869
2,292
149
53,464
48,258
292
1,262
85
7,001
4,433
10,498
41,888
35,965
1,937
292
1,262
32
4,504
24,546
23
114
44
186
1,796
23
19,777
2,37S
83
297
4,085
1,548
2,676
2,364
935
1,281
1,552
266
2,513
582
27
117
114
186
2,364
935
1,231
1 Deposits are as of date of examination prior to loan, computed from figures for each bank rounded to thousands of dollars.
Principal of loans and purchase price of assets as shown by books of F D IC , December 31, 1940, computed from figures for each bank rounded to thousands of dollars.
Includes under date of original disbursement all disbursements made in subsequent years. Does not include preliminary and field liquidation expenses, or advances for the pro
tection of assets, incident to the transaction.
N o te :
For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with F D IC aid, see pa^es 90-91.
MERGERS
225
SUSPENSIONS, RECEIVERSHIPS, AND
Massachusetts. .
M ichigan............
M issouri.............
M ontana.............
New Hampshire
Table 161.
N u m b e r AND DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP OR MERGED WITH THE FINANCIAL AlD
1934-1940
226
o f t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n ,
GROUPED ACCORDING TO CLASS OF BANK AND B Y YEAR, AMOUNT OF DEPOSITS, AND STATE
Number
Deposits (in thousands of dollars)1
Total
National
State
Banks not
members
F. R.
System
Banks members F. R.
System
Total
National
State
Banks not
members
F. R.
System
16
294
437,406
59,189
174,655
203,562
9
25
69
75
1
4
3
13
1
3
8
21
65
59
1,952
13,058
27,735
33,011
40
5,263
2,673
16,031
3,734
2,356
1,912
7,795
21,328
14,624
193 8
193 9
194 0
74
60
43
5
11
8
2
4
6
67
45
29
60,175
157,703
143,772
4,667
19,441
11,074
22,775
25,816
119,974
32,733
112,446
12,724
Banks with deposits of— 1
$100,000 or less................................................................................................................
$100,000 to $250,000......................................................................................................
$250,000 to $500,000......................................................................................................
109
99
51
4
3
13
2
1
105
94
37
6,447
15,787
17,563
237
503
4,503
313
365
6,210
14,971
12,695
$500,000 to $1,000,000...................................................................................................
$1,000,000 to $2,000,000...............................................................................................
$2,000,000 to $5,000,000...............................................................................................
37
27
19
7
9
8
1
3
4
29
15
7
27,393
38,584
60,479
4,964
13,561
26,572
648
3,804
13,399
21,781
21,219
20,508
$5,000,000 to $10,000,000.............................................................................................
$10,000,000 to $50,000,000...........................................................................................
M ore than $50,000,000...................................................................................................
6
7
1
5
2
41,721
229,432
8,849
5
156,126
32,872
73,306
State
A la b a m a .............................................................................................................................
Arkansas.............................................................................................................................
California...........................................................................................................................
C olorad o.............................................................................................................................
C onnecticu t.......................................................................................................................
2
5
1
1
2
1
1
5
1
1
528
1,081
1,078
8
1,514
1,078
F lorida.................................................................................................................................
G eorgia...............................................................................................................................
Illinois.................................................................................................................................
Indiana .. . .
............................................................................................................
1
8
12
17
6
8
9
17
5
274
996
5,728
9,185
5,522
1,164
1
1
1
2
i
1
428
100
1,081
8
1,050
464
274
3,594
102
996
4,462
9,185
1,928
CORPORATION
45
INSURANCE
355
Calendar year
1934......................................................................................................................................
1935......................................................................................................................................
193 6
193 7
DEPOSIT
United States— to ta l........................................................................................................
FEDERAL
Banks members F. R.
System
256
1,474
21
3
5
2
7
20
3
5
1
792
7,961
1,654
4,535
3,042
M ichigan............
M innesota..........
Mississippi.........
M issouri.............
M ontana.............
4
2
43
4
4
3
2
43
2
12,366
552
153
6.547
296
1,729
285
N ebraska............
New Hampshire
New Jersey........
New Y o r k ..........
North C arolina.
4
1
36
17
4
21
5
4
532
297
182,648
111,120
869
194
297
13,764
20,430
North D a k o ta . .
O hio.....................
Oklahom a...........
Pennsylvania. . .
South Carolina.,
29
2
6
11
1
29
1
5
6
1
3,801
2,242
1,326
45,244
136
261
437
7,503
29,362
South D akota. ..
T ennessee...........
T exas...................
V erm on t.............
Virginia...............
23
12
17
2
6
20
12
15
2
4
2,886
1,867
3,149
2,831
4,643
634
211
Washington
West V irgin ia .. .
W isconsin...........
1
3
27
2
27
1.548
1,649
6,806
Kansas................
K en tu ck y...........
Louisiana............
M arylan d...........
M assachusetts. .
536
6,487
1,654
4,535
809
2,233
6,903
267
153
6,547
173
55,302
85,944
113,582
4,746
869
123
ii4
' 495 '
1,548
410
338
3,801
1,981
889
8,379
136
2,041
1,867
3,035
2,831
4,148
1,239
6,806
1 Deposits of banks placed in receivership are as of date of suspension; deposits of banks merged with the aid of F D IC loans are as of date of examination prior to loan.
Figures for each bank are rounded to thousands of dollars.
227
MERGERS
N o t e : Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subsequent
to termination of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with F D IC aid
see pages 90-91.
SUSPENSIONS, RECEIVERSHIPS, AND
3,734
T a b le 162.
N u m b e r AND DEPOSITS OF BANKS W HICH SUSPENDED OPERATIONS, 1940
228
GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE
Deposits (in thousands of dollars'
Number
Insured banks
Insured banks
Total
National
State
N ot
members
F. R.
System
N on
insured
banks
Members F. R.
System
Total
Total
National
State
N ot
members
F. R.
System
N on
insured
banks
5,600
256
5,344
358
4
13
3
132
1,804
929
78
1,500
929
78
1,500
673
54
304
256
2
1
1,703
1,390
1,703
1,390
State
G eorgia. . .
Indiana. ..
Kansas
K e n tu ck y.
M arylan d .
287
191
256
410
159
275
191
256
410
159
M issouri...........
Nebraska..........
New J ersey.. ..
North D akota.
O klahom a........
225
158
986
285
147
225
986
285
147
285
147
2,107
42
53
265
387
2,107
2,107
53
119
387
53
119
387
Banks with deposits o f $100,000 or less.....................
$100,000 to $250,000............
$250,000 to $500,000............
$500,000 to $1,000,000.. .
$1,000,000 to $2,000,000.
$2,000,000 to $5,000,000.
23
19
18
1,703
1,390
INSURANCE
$5,000,000 to $10,000,000. .
$10,000,000 to $50,000,000.
M ore than $50,000,000........
1
Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of latest report prior to suspension.
sands of dollars.
N o te :
275
191
256
410
159
158
42
1939, p. 212; 1938, p. 244; 1937, p. 166; 1936, p. 192; 1935, p. 224.
146
Figures for each bank are rounded to thou
For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with F D IC aid, see pages 90-91.
Back figure*— See the following Annual Reports:
CORPORATION
Pennsylvania. .
South Carolina.
South D a k o ta ..
T exas................. .
W isconsin...........
DEPOSIT
5,958
United States— total.
FEDERAL
Total
Members F. R.
System
T able 163.
N u m b e r AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD
o f t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n ,
1940
GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE
Deposits (in thousands of dollars)1
Total
National
24
2
4
$500,000 to $1,000,000....................................
$1,000,000 to $2,000,000................................
$2,000,000 to $5,000,000................................
5
7
3
$5,000,000 to $10,000,000..............................
$10,000,000 to $50,000,000............................
More than $50,000,000....................................
3
State
C alifornia............................................................
Iow a ......................................................................
New Jersey..........................................................
New Y o r k ............................................................
North D a k o ta ....................................................
1
1
4
11
1
Pennsylvania......................................................
V erm ont..............................................................
W ashington........................................................
W isconsin............................................................
2
1
1
2
7
2
4
1
State
6
1
2
1
1
4
1
1
National
11
138,172
2
4
304
1,404
3
2
3,704
10,702
10,163
3
1
3
Total
Banks members
F. R. System
10,818
1,299
6,161
3,358
111,895
1
2
4
1
1
1
2
State
119,974
1,274
6,805
Banks not
members
F. R.
System
680
6,893
4,668
85,944
29,981
352
1,548
608 1
619
29,362
1,548
Total
Banks members
F. R. System
|National
7,380
69,238
304
1.404
68
607
2.405
3,267
1,728
4,484
2,720
111,895
1,078
179
7,4£2
96,849
125
Disbursement (in thousands of dollars)2
State
3,730
179
2,104
4,012
125
352
608
861
59
2,250
44,358
9
20,241
186
935
339
2,740
68
607
964
2,354
412
59,631
1,078
62,768
Banks not
members
F. R.
System
829
2,308
764
1,301
59,631
861
500
970
1,103
41,888
464
19,777
59
647
1,500
9
186
935
339
1 Deposits are as of date of examination prior to loan, computed from figures for each bank rounded to thousands of dollars.
2 Principal of loans and purchase price of assets as shown by book3 of F D IC , December 31, 1940, computed from figures for each bank rounded to thousands of dollars.
Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.
N o te :
For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with F D IC aid, see pages 90-91.
Back figures— See the following Annual Reports:
1939, p. 213; 1938, p. 245.
MERGERS
Banks with deposits of— 1
$100,000 or less.................................................
$100,000 to $250,000.......................................
$250,000 to $500,000.......................................
Banks not
members
F. R.
System
SUSPENSIONS, RECEIVERSHIPS, AND
Number
Banks members
F. R . System
Table 164.
N umber AND DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP OR MERGED WITH THE FINANCIAL AlD
o f t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n ,
O
1940
GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE
Deposits (in thousands of dollars)1
Banks members F. R.
System
Total
U n ite d S ta tes— t o t a l ........................................................................................................
2
13
7
1
$500,000 to $1,000,000...................................................................................................
$1,000,000 to $2,000,000................................................................................................
$2,000,000 to $5,000,000...............................................................................................
7
8
3
2
4
1
$5,000,000 to $10,000,000.............................................................................................
$10,000,000 to $50,000,000...........................................................................................
M ore than $50,000,000.....................................................
...................................
3
S ta te
C alifornia............................................................................................................................
G eorgia................................................................................................................................
Ind ia n a ................................................................................................................................
K ansas................................................................................... .......................................
1
2
2
1
1
K e n tu ck y............................................................................................................................
M arylan d ............................................. ..............................................................................
M issouri............................................................................................................................
New Jersey.........................................................................................................................
New Y o r k ...........................................................................................................................
2
1
2
5
11
North D a k o ta .................................................................................................................
Oklahom a...........................................................................................................................
P ennsylvania.....................................................................................................................
South D a k ota ....................................................................................................................
Texas...................................................................................................................................
3
1
4
1
1
6
1
2
29
143,772
11,074
2
13
6
78
1,804
2,333
256
5
3
5,407
12,092
10,163
1,299
6,161
3,358
3
1
1
3
1
4
1
1
2
2
1
1,078
275
191
179
256
2
1
2
3
4
410
159
225
8,438
96,849
3
1
2
1
1
410
147
32,088 !
53
119 |
119,974
12,724
78
1,804
2,077
1,274
6,805
4,108
4,657
275
191
179
111,895
111,895
1
State
CORPORATION
8
National
Banks not
members
F. R.
System
INSURANCE
43
w ith d e p o sits o f — 1
or less.................................................................................................................
to $250,000.......................................................................................................
to $500,000.....................................................................................................
B anks
$100,000
$100,000
$250,000
State
Banks members F. R.
System
Total
DEPOSIT
National
Banks not
members
F. R.
System
FEDERAL
- Number
1,078
256
680
6,893
4,668
85,944
619
29,362
410
159
225
3,090
4,012
410
147
2,107
53
119
V erm on t.............................................................................................................................
W ashington.......................................................................................................................
W isconsin...........................................................................................................................
1
1
3
...................!
1
____ 1
1
................... |
1
3
352
1,548
995
i
1 548 1
i
i
J
352
995
1 Deposits of banks placed in receivership are as of date of suspension; deposits of banks merged with the aid of F D IC loans are as of date of examination prior to loan.
Figures for each bank are rounded to thousands of dollars.
N o te :
For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with F D IC aid, see pages 90-91.
MERGERS
1939, p. 214; 1938, p. 246,
SUSPENSIONS, RECEIVERSHIPS, AND
Back figures— See the following Annual Reports:
to
CO
232
Table 165.
ACCOUNTS AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD
o f t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n ,
Class
of
bank1
Number
of
accounts2
Disbursement3
T otal
deposits2
Absorbing bank
Date
$148,958,701
812,863 $352,719,582
Total, 1935-1940 (129 banks)............................
Amount
12,324
46,258
56,300
4,356,778
16,698,882
18,294,152
2,864,893
6,769,840
7,124,339
1938 (24 b an k s).................................................
1939 (28 b an k s).................................................
1940 (24 b a n k s).................................................
159,682
*302,573
235,726
50,054,822
125,142,006
138,172,942
21,387,133
41,573,579
69,238,917
DEPOSIT
Calendar year
1935 ( 1 b a n k )...................................................
1936 (27 b an k s).................................................
1937 (25 b an k s).................................................
52,643
29,362,109
January 13, 1940
19,777,123
C
5,572
1,492,046
February 5, 1940
586,585
Bank of Brocton
Brocton, New Y o r k .......................................
0
1,202
444,062
February 26, 1940
82,419
The National Bank of Westfield
W estfield, New Y o r k .....................................
A
3,496
1,611,119
February 26, 1940
354,919
Union Trust Company of Jamestown
Jamestown, New York (Westfield branch)
Hartford Savings Bank and Trust Company
W hite River Junction, V erm ont.................
C
2,370
352,151
March 11, 1940
186,148
Inter-State Trust Company
W hite River Junction, Vermont
The Swedesboro National Bank
Swedesboro, New Jersey............................
A
2,389
680,289
March 18, 1940
499,676
Swedesboro Trust Company
Swedesboro, New Jersey
The First National Bank of Wenatchee
W enatchee, W ashington.............................
A
4,181
1,543,475
March 27, 1940
935,105
Seattle-First National Bank
Seattle, Washington (W eiatchee branch)
Baldwinsville State Bank
Bald wins ville, New Y o r k ...............
C
3,849
807,178
April 8, 1940
411,011
First Trust & Deposit Company
Syracuse, N . Y . (Baldwinsville branch)
First Trust & Deposit Company
Syracuse, New Y o r k ......................................
B
67,228
48,255,718
April 8, 1940
23,164,104
Bank of Reeder
Reeder, North Dakota. . . .
C
550
8,740 !i
The First National Bank of Philadelphia
Philadelphia, Pennsylvania
Commonwealth-Merchants Trust Company
Union City, N . J. (North Bergen branch)
Union Trust Company of Jamestown
Jamestown, New York (Brocton branch)
First Trust & Deposit Company
Syracuse, New York
The First National Bank of Hettinger
Hettinger, North Dakota
CORPORATION
B
W oodcliff Trust Company
North Bergen, N ew Jersey.............
(P. O. W est New Y ork, N . J.)
INSURANCE
1940
Integrity Trust Company
Philadelphia, Pennsylvania . . .
124,829 1 April 18, 1940
FEDERAL
N am e and location
1935-1940
A
4,502
1,924,299
April 22, 1940
203,137
The Rye National Bank
R ye, New York (Harrison branch)
The R ye National Bank
R ye, New Y o r k .......................................................
A
9,183
3,357,506
April 22, 1940
412,306
The R ye National Bank
R ye, New York
T he First National Bank of Bally
Bally, Pennsylvania...............................................
A
2,256
619,285
April 29, 1940
463,926
The National Bank of Boyertown
Boyer town, Pennsylvania
The Southampton Bank
Southampton, New Y o r k ......................................
B
2,219
1,273,898
June 10, 1940
829,207
The First National Bank of Southampton
Southampton, New York
First State Bank of Scotch Plains
Scotch Plains, New Jersey....................................
C
5,291
611,908
June 24, 1940
59,615
The Westfield Trust Company
Westfield, N . J. (Scotch Plains branch)
T he Westfield Trust Company
Westfield, New Jersey...........................................
B
9,284
4,667,574
June 24, 1940
1,103,000
Waushara County Bank
Plainfield, W isconsin..............................................
C
624
267,000
June 26, 1940
96,461
Chaseburg State Bank
Chaseburg, W isconsin............................................
C
743
340,900
July 15, 1940
242,700
M ount Pleasant Bank & Trust Co.
Pleasantville, New Y o r k .......................................
B
5,897
2,136,598
July 22, 1940
1,204,584
Bank of Williamsville
Williamsville, New Y o r k ......................................
C
4,396
1,775,214
July 29, 1940
714,179
M t. Union State Bank
M t. Union, Iow a .....................................................
C
450
178,627
First Citizens Bank & Trust Company of Utica
Utica, New Y o r k .....................................................
B
41,038
34,277,442
Sept. 14, 1940
16,690,481
First Bank & Trust Company of Utica
Utica, New York
The State Exchange Bank
H olley, New Y o r k ...................................................
C
3,195
986,391
N ov. 25, 1940
292,995
The Marine Trust Company of Buffalo
Buffalo, New York
The American National Bank of Santa Monica
Santa M onica, California......................................
A
3,168
1,078,324
December 5,1940
861,153
California Bank
Los Angeles, Calif. (Santa Monica branch)
August 26, 1940
59,343
The Westfield Trust Company
Westfield, New Jersey
Union State Bank
W automa, Wisconsin (Plainfield branch)
W estby-Coon Valley State Bank
Coon Valley, Wisconsin (Chaseburg branch)
The County Trust Company
White Plains, N . Y . (Pleasantville branch)
The Marine Trust Company of Buffalo
Buffalo, New York (Williamsville branch)
Iowa State Bank
Morning Sun, Iowa
N o te :
MERGERS
1 A — National bank member of the Federal Reserve System; B— State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Reserve
System.
2 Number of accounts and total deposits are as of date of examination prior to loan.
3 Principal of loans and purchase price of assets as shown by books of F D IC , December 31, 1940. Includes under date of original disbursement all disbursements made in
subsequent years. Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.
4 Revised according to subsequent information.
SUSPENSIONS, RECEIVERSHIPS, AND
The First National Bank of Harrison
Harrison, New Y o r k ...............................................
For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with F D IC aid, see pages 90-91.
Back figures— See the following Annual Reports:
233
1939, p. 216; 1938, p. 248; 1937, p. 180; 1936, p . 202.
234
T a b le 166.
A
ssets
P urchased
by
the
F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n t o F a c il it a t e C
I n s u r e d B a n k s i n R e c e i v e r s h i p , 1939-1940
o m p l e t io n
of
L
iq u id a t io n
of
AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1940
Class
of
bank1
Name and location
Amount of deposits2
Assets purchased3
Date of
suspension
Total
Date
$7,779,079 $6,664,134
C a len d a r year
1939 (5 b a n k s) ................................................
1940 (6 b a n k s ) .........................................
2,563,792
5,215,287
2,351,889
4,312,245
Amount
$500,718
134,307
366,411
DEPOSIT
T o t a l, 1939-1940 (11 b a n k s )...........................................................
Insured
FEDERAL
Case
number
1940
....
B
October 2, 1937
1,343,347
1,183,384
January 20, 1940
255,000
70
The Union Bank
Uhrichsville, O h io ..................................
....
C
October 27, 1936
2,075,331
1,419,018
January 31, 1940
725
24
The First National Bank of Pender
Pender, N eb ra sk a ......................................
A
June 29, 1935
199,662
170,478
February 19, 1940
775
136
The First National Bank of Purdon
Purdon, T exas...............................................
A
February 12, 1938
36,062
34,981
April 11, 1940
3,469
199
Pleasantville Trust Company
Pleasantville, New Jersey................................................................
c
June 30, 1939
936,507
894,788
June 26, 1940
100,123
207
The Tuckerton Bank
Tuckerton, New Jersey..................................................................
c
December 27, 1939
624,378
609,596
December 10, 1940
6,319
1 A— National bank member of the Federal Reserve System; B— State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Reserve
System.
2 Amount of deposits and amount of insured deposits will not agree with amounts shown in previous reports due to deposits subsequently discovered or reclassified.
3 Amount of assets purchased includes under date of original disbursement all purchases made in subsequent years.
Back data— See the Annual Report for 1939, p. 218.
CORPORATION
Perth A m boy Trust Company
Perth A m boy, New Jersey..........
INSURANCE
109
L is t OF INSURED BANKS PLACED IN RECEIVERSHIP,
Name and location
208
209
Guaranty Bond State Bank, N orth Zulch, Texas.......................
The Citizens State Bank of Niangua, Niangua, Missouri........
Bankers Trust Com pany, Atlantic City, New Jersey................
Eugene State Bank, Eugene, M issouri..........................................
Farmers Bank, D ry Ridge, K en tu cky...........................................
213
214
215
216
217
Blairsville Savings and Trust Company, Blairsville, P a ............
Ashley State Bank, Ashley, North D a kota ..................................
First State Bank, W ishek, North D ak ota....................................
Bank of Moreland, Moreland, K en tu cky.....................................
M ackey State Bank, M ackey, Indiana..........................................
218
219
220
221
222
First State Bank of Stonewall, Stonewall, Oklahom a...............
The Lucerne State Bank, Lucerne, Indiana.................................
Kane Trust and Savings Com pany, Kane, Pennsylvania.........
The Claxton State Bank, Claxton, Georgia.................................
Badger State Bank, Badger, South D akota.................................
223
224
225
226
The Bank of Leslie, Leslie, Georgia...............................................
Savings Bank of N anticoke, Nanticoke, M aryland....................
Bank of Eagle, Eagle, W isconsin....................................................
The, First National Bank of Burlingame, Burlingame, Kansas
C
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
A
Date of
suspension
Date of first payment
to depositors
by F D IC
Receiver
1911
1907
1917
1927
1892
January 4, 1940
January 12, 1940
February 29, 1940
March 13, 1940
March 23, 1940
January 17, 1940
January 23, 1940
March 11, 1940
March 25, 1940
April 3, 1940
State
State
State
State
State
1923
1901
1898
1909
1920
April 4, 1940
April 18, 1940
April 18, 1940
April 19, 1940
M ay 9, 1940
April 17, 1940
April 30, 1940
M ay 1, 1940
M ay 8, 1940
M ay 23, 1940
State banking authority
F D IC
F D IC
State banking authority
State banking authority
1908
1912
1902
1935
1907
June 13, 1940
June 22, 1940
July 2, 1940
July 20, 1940
August 3, 1940
July 5, 1940
July 3, 1940
July 15, 1940
August 6, 1940
August 16, 1940
State
State
State
State
State
1905
1908
1901
1889
September 18, 1940
October 4, 1940
October 25, 1940
November 19, 1940
October 3, 1940
October 23, 1940
November 6, 1940
December 2, 1940
State banking authority
State banking authority
State banking authority
F D IC
banking
banking
banking
banking
banking
banking
banking
banking
banking
banking
authority
authority
authority
authority
authority
authority
authority
authority
authority
authority
1 A — National bank member of the Federal Reserve System; B-—State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Reserve
System.
Back data— See the following Annual Reports:
1939, p. 219; 1938, p. 250; 1937, p. 170; 1936, p. 193; 1935, p . 225.
235
MERGERS
210
211
212
Year of
of
organiza
bank1
tion
1940
SUSPENSIONS, RECEIVERSHIPS, AND
Table 167.
T able 168.
A s s e t s OF INSURED BANKS PLACED IN RECEIVERSHIP,
1934-1940
to
CO
AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION
Total
assets
Name and location
Lmbe
United
States
Govern
ment
securities
Other
securities
Banking
Loans, dis
house,
counts, and furniture
overdrafts and fixtures
Other real
estate
Other
assets
413,048,665 $12,550,666 $5,454,425 $13,637,751 $57,462,549 $4,438,827 $11,717,539 $7,786,908
603,519
698,440
902,215
1,293,683
273,638
510,479
1,955,104
2,307,696
1,329,865
6,842,116
6,454,624
11,107,699
79,365
459,055
459,700
486,995
120,319
242,274
734,874
837,966
69,565
1,597,403
273,559
1,010,689
1938 (50 b a n k s ) ...............................................................................
1939 (32 b a n k s )...............................................................................
1940 (19 b a n k s ) ...............................................................................
13,919,907
43,925,766
7,959,553
1,610,297
3,329,557
1,018,215
451,570
1,052,424
452,574
2,215,638
4,855,519
1,519,677
6,574,061
21,839,422
3,314,762
412,911
1,845,901
694,900
2,125,022
7,221,558
435,526
530,408
3,781,385
523,899
43,550
822
728,989
5,000
18,276
66,367
92,731
613,126
99,595
223,001
1,623
2,900
269,066
200
15,650
8,325
2,125
16,402
1,702
187
403,708
601
2,679
401,946
5,375
1,578
2,170
1,500
678,294
142,146
74,395
111,254
24,012
306,419
9,000
5,700
2,100
4,000
171,023
51,835
30,207
4,255
15,410
3,296
2,052
1,213
780
104,383
143,621
252,758
145,965
33,662
2
1,150
45,500
3,151
4,500
3
18,282
65,767
676
1,500
388
10,353
13,287
53,639
5,138
84,599
117,303
189,095
118,455
5,875
1,614
11,200
5,250
5,000
3,400
34,732
15,242
2,884
3,017
3,222
343
1940
208
209
210
211
212
Guaranty Bond State Bank, North Zulch, Texas.....................
The Citizens State Bank of Niangua, Niangua, Missouri. .. .
Bankers Trust Com pany, Atlantic C ity, New Jersey..............
Eugene State Bank, Eugene, M issouri.........................................
Farmers Bank, D ry R idge, K en tu cky..........................................
169,461
142,671
2,130,869
127,588
363,322
47,894
43,056
99,578
18,892
57,936
213
214
215
216
217
Blairsville Savings and Trust Company, Blairsville, P a..........
Ashley State Bank, Ashley, North D a k o ta ................................
First State Bank, W ishek, North D a k o ta ...................................
Bank of Moreland, M oreland, K en tu ck y....................................
Mackey State Bank, M ackey, Indiana........................................
1,820,764
247,397
136,490
141,701
39,960
118,789
20,745
22,558
24,939
5,413
218
219
220
221
222
First State Bank of Stonewall, Stonewall, Oklahoma..............
The Lucerne State Bank, Lucerne, Indiana...............................
Kane Trust and Savings Com pany, Kane, Pennsylvania. . . .
The Claxton State Bank, Claxton, G eorgia................................
Badger State Bank, Badger, South D a k ota ................................
143,105
195,387
915,431
222,582
73,832
33,986
20,481
133,674
18,879
27,037
145,644
4,343
1,500
258,801
272
1,995
223
224
225
226
The Bank of Leslie, Leslie, G eorgia..............................................
Savings Bank of Nanticoke, Nanticoke, M aryland..................
Bank of Eagle, Eagle, W isconsin...................................................
The First National Bank of Burlingame, Burlingame, Kansas
141,322
190,114
456,851
300,706
18,114
33,380
171,508
101,356
850
23,900
43,594
51,500
24,000
7,500
3,500
8,560
850
3,300
39,028
128,883
15,000
25
6,752
: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subsequent
ition of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with F D IC aid,
90-91.
figures— See
the following Annual Reports:
1939, p. 220; 1938, p. 252; 1937, p. 172; 1936, p. 194; 1935, p. 226.
CORPORATION
185,056
1,974,181
2,194,712
2,238,648
INSURANCE
2,661,327
12,323,948
12,974,788
19,283,376
DEPOSIT
C alen d a r year
1934 ( 9 b a n k s )...............................................................................
1935 (24 b a n k s )...............................................................................
1936 (42 b a n k s ) ...............................................................................
1937 (50 b a n k s ) ...............................................................................
FEDERAL
T o t a l, 1934-1940 (226 b a n k s ) .......................................................
Cash and
due from
banks
Table 169.
L ia b ili t ie s o f I n su r e d B a n k s P la c e d in R e c e iv e r s h ip ,
1934-1940
AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION
Case
number
Name and location
Total
deposits
$113,048,665 $84,688,359
Other
liabilities,
secured
Other
liabilities,
unsecured
R . F. C.
capital
Private
capital
stock
Other
capital
accounts1
$8,086,155
$1,722,109
$5,581,896
$9,829,999
$3,140,147
2,661,327
12,323,948
12,974,788
19,283,376
1,951,992
8,700,485
11,039,098
14,715,286
77,630
1,826,850
46,618
1,004,807
27,333
285,036
47,077
127,951
90,000
223.000
788.000
755,250
432,100
950,000
1,069,350
2,498,815
82,272
338,577
-15,355
181,267
1938 (50 b a n k s ) ................................................................................
1939 (32 b a n k s ) ................................................................................
1940 (19 b a n k s ).................................................................................
13,919,907
43,925,766
7,959,553
10,124,255
32,557,805
5,599,438
1,211,407
3,463,506
455,337
1,947
1,232,314
451
1,052,900
2,249,996
422,750
1,059,200
2,775,001
1,045,533
470,198
1,647,144
436,044
169,461
142,671
2,130,869
127,588
363.322
119,291
119,106
986,204
106,039
285,680
25.000
15.000
398,220
212
Guaranty Bond State Bank, North Zulch, Texas.......................
The Citizens State Bank of Niangua, Niangua, Missouri........
Bankers Trust Com pany, Atlantic City, New Jersey................
Eugene State Bank, Eugene, M issouri..........................................
Farmers Bank, D ry Ridge, K entucky...........................................
25.000
10.000
463,783
250
25.000
160
-1,505
282,593
11,549
27,604
213
214
215
216
217
Blairsville Savings and Trust Company, Blairsville, P a............
Ashley State Bank, Ashley, North D ak ota..................................
First State Bank, W ishek, North D a k ota....................................
Bank of M oreland, M oreland, K en tu cky.....................................
M ackey State Bank, M ackey, Indiana..........................................
1,820,764
247,397
136,490
141,701
39,960
1,389,833
171,949
113,194
123,872
25,017
' 495
75.000
25.000
15.000
15.000
25.000
105,813
442
-2,199
2,829
-10,057
218
219
143,105
195,387
915,431
222,582
73,832
146,703
166,217
717,389
162,303
52,584
(2)
222
First State Bank of Stonewall, Stonewall, Oklahoma................
The Lucerne State Bank, Lucerne, Indiana.................................
Kane Trust and Savings C om pany, Kane, Pennsylvania.........
The Claxton State Bank, Claxton, G eorgia.................................
Badger State Bank, Badger, South D akota.................................
10.000
17,500
150,000
20,000
15.000
-13,598
4,157
47,957
8,708
744
223
224
225
226
The Bank of Leslie, Leslie, Georgia................................................
Savings Bank of N anticoke, N anticoke, M aryland....................
Bank of Eagle, Eagle, W isconsin....................................................
The First National Bank of Burlingame, Burlingame, Kansas
141.322
190,114
456,851
300,706
112,758
158,849
386,712
255,738
25,000
25.000
33.000
40.000
56.000
-21,436
-1,778
30,135
-36,074
1940
208
209
210
211
220
221
1 Includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books.
8 Less} than $0.50.
$0.50
See
N o te
38
2
79
31,475
4
250,000
50.000
10.000
7,500
5,500
Minus (-) indicates net operating deficit.
to Table 168.
Back figures— See the following Annual Reports:
9,750
25.000
1939, p. 222; 1938, p. 254; 1937, p. 174; 1936, p. 196; 1935, p . 227.
237
N o te :
22
MERGERS
C alen d a r year
1934 ( 9 b a n k s ) ................................................................................
1935 (24 b a n k s ) ................................................................................
1936 (42 b a n k s ) ..........................................................................
1937 (50 b a n k s ) ................................................................................
SUSPENSIONS, RECEIVERSHIPS, AND
T o ta l, 1934-1940 (226 b a n k s )........................................................
Total
liabilities
Table 170.
D
e p o s it s
OF INSURED BAN KS PLACED IN REC E IVE RSH IP,
1934-1940
31, 1940
Uninsured, unsecured, not pre
ferred, and not subject to offset
Case
number
Total1
Name and location
Insured2
Secured and
preferred3
Subject to
offset
In excess of
insurance
maximum
Other4
$3,970,050
$4,904,885
$8,491,455
$1,131,334
1,966,873
9,087,223
11,235,782
14,953,677
946,477
6,049,058
8,056,946
12,038,547
755,533
471,465
657,970
1,156,099
90,526
558,656
619,078
1,067,525
102,785
1,998,500
1,048,186
645,339
71,552
9,544
853,602
46,167
1938 (50 b a n k s)...............................................................................
1939 (32 b a n k s)...............................................................................
1940 (19 b a n k s)...............................................................................
10,287,090
32,717,821
5,656,862
9,083,042
26,305,625
4,927,909
310,163
446,169
172,651
495,054
1,738,165
335,881
253,090
4,223,134
220,421
145,741
4,728
24,676
12,248
48,544
17,599
27,056
9,193
1940
119,291
122,930
986,204
107,136
285,680
85,422
107,182
937,647
89,537
244,502
213
214
215
216
217
Blairsville Savings and Trust Com pany, Blairsville, P a ..........
Ashley State Bank, Ashley, N orth D a k o ta ................................
First State Bank, W ishek, N orth D a k o ta ...................................
Bank of Moreland, Moreland, K en tu ck y ................... ................
M ackey State Bank, M ackey, Indiana........................................
1,389,833
171,949
113,194
143,690
25,693
1,159,123
142,121
104,309
123,913
24,182
218
219
220
221
222
First State Bank of Stonewall, Stonewall, O klahom a..............
The Lucerne State Bank, Lucerne, Ind ia n a ...............................
Kane Trust and Savings Company, Kane, Pennsylvania........
The Claxton State Bank, Claxton, Georgia.................................
Badger State Bank, Badger, South D a k o ta ................................
162,822
165,893
717,389
177,755
52,584
148,419
143,639
599,186
144,133
50,605
223
224
225
226
The Bank of Leslie, Leslie, Georgia...............................................
Savings Bank of Nanticoke, Nanticoke, M aryland...................
Bank of Eagle, Eagle, W isconsin...................................................
The First National Bank of Burlingame, Burlingame, Kansas
113,421
158,947
386,712
255,739
96,842
143,513
357,240
226,394
3,500
1,483
12,639
56,218
18,258
1,016
2,631
56,062
11,570
7,869
7,676
999
118,430
5,272
56,539
11,002
902
9,891
10,401
20,403
22,292
1,077
1,240
11,853
41,261
328
1,234
4,096
12,500
16,579
11,132
14,012
15,795
9,470
512
3,068
11,364
1,050
1 Amount of deposits shown in Table 170 does not agree with amount shown in Table 169 due to inclusion in Table 170 of deposits subsequently discovered or reclassified.
2 Includes all deposits paid or to be paid by F D IC .
3 Includes only the portions of secured deposits met or to be met by sale of security and of preferred deposits paid by the receiver.
4 Includes (a) deposits barred from insurance because not claimed before the expiration of the period set by law, (b) restricted and deferred deposits not eligible for insurance,
and (c) deposits made after termination of insured status in 1 bank which suspended after its insured status had been terminated.
N o te :
See
N o te
to Table 168.
Bach figures— See the following
Annual Reports:
1939, p. 224; 1938, p. 256; 1937, p. 176; 1936, p. 198; 1935, p. 228.
CORPORATION
Guaranty Bond State Bank, N orth Zulch, T exas.....................
The Citizens State Bank of Niangua, Niangua, Missouri. . ..
Bankers Trust Com pany, Atlantic C ity, New Jersey..............
Eugene State Bank, Eugene, M issouri.........................................
Farmers Bank, D ry Ridge, K en tu cky..........................................
INSURANCE
$67,407,604
DEPOSIT
$85,905,328
Calendar year
1934 ( 9 b a n k s)...............................................................................
1935 (24 b a n k s)...............................................................................
1936 (42 b an k s)...............................................................................
1937 (50 b an k s)...............................................................................
FEDERAL
T otal, 1934-1940 (226 banks).......................................................
208
209
210
211
212
238
AS SHOWN BY BOOKS OF FDIC, DECEMBER
Table 171.
PAYMENTS TO DEPOSITORS OF INSURED BANKS PLACED IN RECEIVERSHIP,
AS SHOWN BY BOOKS OF FDIC, DECEMBER
1934-1940
31, 1940
Number of depositors
Insured deposits1
Eligible for insurance protection
Case
number
Name and location
Total
Fully paid
by other
methods2
Unpaid
N ot eligible
for
insurance
protection3
Total
Paid
Unpaid
T o ta l, 1934-1940 (226 b a n k s )......................................................
320,516
241,489
32,305
22,226
C alen d a r year
1934 ( 9 b a n k s ) ......................................................................
1935 (24 b a n k s ) ..........................................................................
1936 (42 b a n k s )......................................................................
1937 (50 b a n k s ) ............................................................................
15,734
32,229
43,224
74,163
11,251
23,404
30,913
56,745
933
2,845
4,617
7,706
3,309
5,012
47
196
241
968
7,647
9,516
946,477
6,049,058
8,056,946
12,038,547
938,898
6,019,049
8,050,338
12,028,244
7,579
30,009
6,608
10,303
1938 (50 b a n k s ) ............................................................................
1939 (32 b a n k s ) .................................................
1940 (19 b a n k s ) ............................................................................
44,275
90,202
20,689
31,733
72,149
15,294
7,366
6,095
2,743
405
10,605
2,652
4,771
1,353
9,083,042
26,305,625
4,927,909
9,063,251
26,125,571
4,821,740
19,791
180,054
106,169
24,496 $67,407,604 $67,047,091
$360,513
1940
Guaranty Bond State Bank, North Zulch, T exas.....................
The Citizens State Bank of Niangua, Niangua, M issouri. . . .
Bankers Trust Company, Atlantic City, New Jersey...............
Eugene State Bank, Eugene, Missouri. .......................................
Farmers Bank, D ry Ridge, K en tu cky..........................................
702
825
4,236
616
1,068
516
603
3,823
441
764
109
194
177
159
271
77
28
238
16
33
85,422
107,182
937,647
89,537
244,502
85,273
107,097
933,627
89,451
244,446
149
85
4,020
86
56
213
214
215
216
217
Blairsville Savings and Trust Company, Blairsville, Pa..........
Ashley State Bank, Ashley, North D akota.................................
First State Bank, Wishek, N orth D akota...................................
Bank of Moreland, Moreland, K en tu ck y....................................
M ackey State Bank, M ackey, Indiana........................................
2,691
457
434
386
189
2,264
400
360
211
153
163
37
50
147
26
264
20
24
28
10
1,159,123
142,121
104,309
123,913
24,182
1,120,839
141,175
103,913
118,100
23,334
38,284
946
396
5,813
848
218
219
220
221
222
First State Bank of Stonewall, Stonewall, Oklahoma...............
The Lucerne State Bank, Lucerne, Indiana...............................
Kane Trust and Savings Company, Kane, Pennsylvania........
The Claxton State Bank, Claxton, G eorgia................................
Badger State Bank, Badger, South D a k ota...............................
1,204
774
1,889
1,289
391
659
492
1,551
830
260
246
199
150
256
58
299
83
188
203
73
148,419
143,639
599,186
144,133
50,605
146,638
142,723
583,502
126,988
49,739
1,781
916
15,684
17,145
223
224
225
226
The Bank of Leslie, Leslie, Georgia..............................................
Savings Bank of Nanticoke, Nanticoke, M aryland...................
Bank of Eagle, Eagle, W isconsin...................................................
The First National Bank of Burlingame, Burlingame, Kansas
746
878
777
1,137
374
515
593
485
75
297
151
94
528
96,842
143,513
357,240
226,394
96,642
141,666
354,633
211,954
200
1,847
2,607
14,440
212
90
124
866
N o te :
See N o t e to Table 168.
Back figures—See the following Annual
Reports: 1939, p. 226; 1938, p. 258; 1937, p. 178; 1936, p. 200; 1935, p. 229.
239
1 Includes all deposits paid or to be paid by F D IC .
2 Includes all depositors whose claims have been fully paid by counterclaim, by sale of security, or directly by the receiver because of preferred status
» Includes (a) depositors holding deposits barred from insurance because not claimed before the expiration of the period set by law, (b) depositors holding only restricted
and deferred deposits not eligible for insurance, and (c) depositors holding only deposits made after termination of insured status in 1 bank which suspended after its insured
status had been terminated.
^
MERGERS
208
209
210
211
212
SUSPENSIONS, RECEIVERSHIPS, AND
Paid by
FD IC
SUPERVISORY ACTIONS BY THE CORPORATION
Table 172.
1939
1938
1937
193G
1935
Total
240
ACTIONS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION UPON APPLICATIONS FROM BANKS NOT MEMBERS OF
the F ederal R eserve System for A dmission to I nsurance, A pproval of E stablishment of B ranches,
and A pproval of C hange of L ocation of B anking Offices, A ugust 23, 1935, to D ecember 31, 1940
A D M IS S IO N T O IN S U R A N C E
607
75
165
133
82
85
67
A p p lica tio n s ap proved1..................................................................................................................................
Banks opening or opening contemplated:
New banks without predecessors.........................................................................................................
Successor to suspended insured bank.................................................................................................
Closed noninsured banks reopening...................................................................................................
Banks replacing closed banks or branches but not successors thereto................................
Banks operating but not insured at beginning of year, or successors to such banks:
Banks previously insured2......................................................................................... _...........................
Banks operating without restrictions January 1, 1934, not previously insured..............
Banks opened for business since January 1, 1934.................................................................
Banks operating under restrictions3...................................................................................................
Other financial institutions:
Trust company not engaged in deposit banking.....................................................................
Financial institutions becoming banks of deposit, or banks succeeding institutions not
engaged in deposit banking...............................................................................................................
Insured banks reorganizing or withdrawing from F . R . System:
Conversion of national to State banks..............................................................................................
State banks contemplating withdrawal from F . R . System ....................................................
Reorganizations of insured banks not members of the F . R . System .................................
471
45
114
111
67
73
61
124
1
8
29
15
24
1
3
5
38
14
19
22
1
2
7
72
26
56
10
24
6
2
1
5
10
3
6
2
1
’ i
112
29
41
42
9
4
6
6
1
16
1
26
10
6
1
11
14
12
1
’ 2
10
14
3
5
CORPORATION
3
28
2
18
86
21
INSURANCE
A p p lica tio n s d isa p p ro v e d ............................................................................................................................
Banks opening or opening contemplated:
New banks without predecessors.........................................................................................................
Closed noninsured banks reopening...................................................................................................
Banks replacing closed ban ks...............................................................................................................
Banks operating but not insured at beginning of year, or successors to such banks:
Bank previously insured........................................................................................................................
Banks operating without restrictions January 1, 1934, not previously insured..............
Banks opened for business since January 1, 1934.................................................................
Banks operating under restrictions3...................................................................................................
Other financial institutions:
Trust companies not engaged in deposit banking............................................ ...........................
Financial institutions becoming banks of deposit, or banks succeeding institutions not
engaged in deposit banking...............................................................................................................
Digitized forInsured
FRASER
banks reorganizing.........................................................................................................................
14
‘ *2'
DEPOSIT
A p p lic a tio n s approved b u t ap proval later rescin d ed 4...............................................................
New banks without predecessors..............................................................................................................
Banks operating January 1, 1934, but not insured at beginning of year...............................
Bank succeeding financial institution not engaged in deposit banking...................................
Insured banks reorganizing or withdrawing from F . R . System:
Conversion of national to State banks..............................................................................................
State banks contemplating withdrawal from F . R . System ....................................................
Reorganization of insured bank not a member of the F . R . System..................................
3
FEDERAL
T o ta l n u m b e r o f a p p lic a tio n s acted u p o n .......................................................................................
A p p lica tio n s d isa p p rov ed — cla ssified b y sta tu s o f b a n k , D ecem b er 31, 1940........
Plans for organization or reorganization abandoned............................................................
Banks discontinued operations.......................................................................................... .. . . .
Banks opened or continued to operate without insurance..................................... ............
Banks approved for insurance in later yea rs.....................................................................
‘31
25
29
5
2
12
10
T o ta l n u m b e r o f a p p lic a tio n s a cte d u p o n ..........................................................................
384
15
93
89
82
62
A p p lica tio n s a p p ro v e d 1.................................................................................................................
T o establish additional banking offices:
Establishment of de novo branches6.....................................................................................
Conversion of head offices into branches after relocation of banks..............................
T o place banks by branches:
Conversion of absorbed banks into branches.....................................................................
Replacement of closed or relocated banks..........................................................................
T o continue branches in operation:
Retention of branches in operation at time of admission to insurance or relocation,
Retention of branches previously operated by absorbed or succeeded banks............
Replacement of branches discontinued by other banks..................................................
Continuance in operation of branches not previously approved...................................
Extension of full branch powers to teller’s windows or seasonal offices.......................
337
9
80
82
71
54
41
130
11
7
2
37
2
33
1
16
3
15
2
22
1
105
32
22
4
27
7
28
10
18
7
10
4
5
30
13
8
3
4
8
1
4
6
3
1
3
1
8
3
2
1
A p p lica tio n s a p p roved b u t a p p ro v a l la ter rescin d ed 4.....................................................
T o establish additional banking offices:
Establishment of de novo branches......................................................................................
Conversion of head offices into branches after relocation of banks...............................
T o replace banks by branches:
Conversion of absorbed banks into branches.....................................................................
Replacement of closed banks..................................................................................................
19
5
5
6
3
9
2
3
1
3
1
2
1
6
2
1
1
1
4
A p p lic a tio n s d is a p p r o v e d ............................................................................................................
T o establish additional banking offices:
Establishment of de novo branches......................................................................................
Conversion of head office into branch after relocation of bank.....................................
T o replace banks by branches:
Conversion of absorbed bank into branch..........................................................................
Replacement of closed banks..................................................................................................
28
6
8
2
5
5
2
24
1
5
7
1
1
4
5
2
1
2
1
A p p lic a tio n s a p p roved t1
B anks.................................................................................................................................................
Branches............................................................: .............................................................................
72
28
4
3
9
6
9
7
18
4
A p p lic a tio n s a p p ro v e d b u t a p p ro v a l la te r rescin d ed — branches..................................
2
A p p lic a tio n s d isa p p rov ed — ban k s.............................................................................................
3
1
1
112
641
57
41
14
5
10
12
14
9
1
2
2
12
6
5
1
10
8
1
1
6
2
4
E S T A B L ISH M E N T OF BRAN CHES
3
3
1
ACTIONS
17
5
2
1
241
1 Includes applications disapproved but approved later in the same year.
2 1 of these banks withdrew from insurance at the close of the temporary funds, but immediately applied for readmission to insurance. In addition, the Corporation approved
2 applications, not tabulated, from banks which wished to retain their insured status when they reopened after starting voluntary liquidation.
3 In some cases, restrictions were removed during the year prior to application for insurance. M ost of the banks were restricted on January 1, 1934, but a few were placed
under restrictions during 1934.
4 In most of these cases approval was rescinded because of failure of bank to meet conditions required by the Corporation. In cases of banks members of the Federal Reserve
System applying for insurance as banks not members, the banks decided to continue as members, and approval was rescinded in order to close each case.
5 Totals for the 6-year period are adjusted to eliminate banks disapproved more than once.
6 Includes conversions or replacements of 4 cooperative banks, 1 trust company, and 3 exchanges not included in F D IC tabulations of noninsured banks.
CORPORATION
1
C H A N G E OF LO C A TIO N OF OFFICES
BY THE
1
1
15
3
SUPERVISORY
7
43
Table 173.
ACTIONS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION UPON APPLICATIONS REGARDING
23, 1935, t o D e c e m b e r 31, 1940
242
C a p i t a l a n d O t h e r F in a n c ia l A d ju stm e n ts, A u g u s t
Number of applications in—
Total
1936
1935
1937
1938
1939
1940
493
12
2
1,830
15
5
1,159
23
1
1,267
41
1,810
41
Preferred capital not held by R F C 2 ...............................................................
Common stock .............
...................................................................................
67
43
231
1
2
34
6
9
48
15
9
38
23
12
50
14
10
28
8
1
33
T o sell additional capital:3
Preferred capital obligations to R F C ...............................................................
Preferred capital to others than R F C ..............................................................
Comm on stock ....................................................................................................
11
37
57
3
4
8
2
8
12
3
11
2
12
11
4
8
9
2
6
T o make miscellaneous capital adjustments:
T o convert preferred capital not held by R FC into common stock ........
T o pay cash premium to R F C ..........................................................................
T o pay cash premiums on preferred capital4.................................................
T o pay cash premiums to common stockholders..........................................
T o reduce surplus in connection with capital reductions...........................
T o revise common capital structure.................................................................
T o transfer reserves to valuation allowance for loans.................................
20
2
9
1
7
1
1
1
3
7
5
4
3
3
A p p lica tio n s a p p roved in p a rt
T o retire:
Preferred capital obligations held by R F C .....................................................
Preferred capital not held by R F C ..................................................................
581
4
8
39
96
1
78
188
2
172
1
A p p lic a tio n s d isa p p roved o r re s cin d e d 5
T o retire:
Preferred capital obligations held by R F C .....................................................
Preferred capital not held by R F C ..................................................................
Common stock ....................................................................................................
759
27
2
51
2
1
194
6
255
9
104
7
1
96
3
59
T o reduce or cancel:
Preferred capital obligations held by R F C 2...................................................
Preferred capital not held by R F C 2............... i ................................................
Common stock ........................................................................................................
15
5
48
1
8
2
2
15
8
5
10
3
2
7
T o reduce or cancel:
1
3
1
5
1
1
2
3
CORPORATION
2
1
INSURANCE
85
4
DEPOSIT
6,644
136
8
Comm on stock ........................................................................................................
FEDERAL
TO A P P R O V E C A P IT A L A D J U S T M E N T S 1
A p p lic a tio n s a p p rov ed in fu ll
T o retire:
Preferred capital obligations held by R F C .....................................................
T o sell additional capital:3
Preferred capital obligations to R F C ....................................................
Preferred capital to others than R F C ...................................................
Common stock .............................................................................................
1
1
1
T o make miscellaneous capital adjustments:
T o convert preferred capital not held b y R FC into common stock
T o pay cash premiums on preferred capital4.......................................
T o reduce surplus in connection with capital reductions.................
2
2
3
2
2
1
4
5
3
2
1
1
2
1
67
20
4
129
21
14
15
4
13
13
8
7
1
4
2
7
4
3
3
2
18
2
2
12
2
2
7
6
2
7
2
7
1
2
1
1
2
2
1
1
1
1
1
T O A P P R O V E O T H E R F IN A N C IA L A DJU STM EN TS*
1
1
1
4
2
243
CORPORATION
_1 Banks not members of the Federal Reserve System. The number of banks submitting these applications was 3,063, of which 3,059 applied for retirement or reduction of
apital. M any banks applied for approval of more than one type of adjustment, or made more than one application during the period.
2 T o reduce par but not retirable value.
* Includes cases in which capital issues were to be sold for more than their par value and premiums transferred to surplus or undivided profits accounts.
4 These premiums represent retirable value of preferred stock not carried on books.
* Includes applications first approved and later rescinded in full, not included as approved.
8 Banks not members of the Federal Reserve System except in the case of applications to assume liabilities or purchase assets from noninsured institutions, which are for all
insured banks. The number of banks submitting these applications was 348. Some banks applied for approval of more than one type of adjustment, or made more than one
application during the period.
BY THE
1
5
1
4
ACTIONS
Applications disapproved
T o repay or release restricted deposits:
T o repay waived deposits or certificates of beneficial interest........
T o release restricted or subordinated deposits....................................
T o release directors’ guaranty.....................................................................
T o repay stockholders’ contributions.........................................................
T o assume liabilities or purchase assets of noninsured banks.............
1
5
SUPERVISORY
Applications approved
T o repay or release restricted deposits:
T o repay waived deposits or certificates of beneficial interest........
T o release restricted or subordinated deposits....................................
T o release directors’ guaranty.....................................................................
T o release stockholders’ guaranty..............................................................
T o repay stockholders’ contributions........................................................
T o assume liabilities or purchase assets of noninsured institutions:
Of noninsured banks..................................................................................
Of other financial institutions..................................................................
Of closed b an k s...........................................................................................
A m o u n ts INVOLVED IN ACTIONS BY THE FEDERAL DEPOSIT InSTjivaNCE CORPORATION UPON APPLICATIONS REGARDING
C a p i t a l a n d O t h e r F in a n c ia l A d ju stm e n ts, A u g u s t
244
Table 174.
23, 1935, t o D e c e m b e r 31, 1940
Amounts involved in applications in—
Total
1936
1937
1938
1939
1940
FEDERAL
$70,834,787
3,021,051
537,270
$3,344,900
398,000
$17,291,224
231,200
76,600
$14,781,670
343,370
454,070
$9,495,129
578,600
6,600
$10,753,471
545,377
$15,168,393
924,504
10,008,800
5,577,707
21,022,130
1.400.000
1.607.000
3,202,700
3.130.345
2,779,055
4,605,130
1,277,375
328,550
1,968,100
1,849,670
258,100
2,491,500
1,050,860
603,502
4,902,850
1,300,550
1,500
3,851,850
DEPOSIT
2,929,845
1,051,405
2,509,650
760.000
235.000
323,700
1.624.345
127,155
677,250
45,000
323,200
68,000
373,800
819.000
477.500
185,450
166.500
85.000
200,000
1,324,400
15.000
219,001
50.000
128,406
(5)
84,692
15,000
70,000
165,000
905.000
169,400
150,956
54,295
13,750
(6)
(6)
(6)
TO A P P R O V E C A P IT A L A D J U S T M E N T S 1
A p p lic a tio n s a p p rov ed in fu ll
T o retire:
T o reduce or cancel:
Preferred capital obligations held b y R F C 2...................................................
T o sell additional capital:3
ProfGrrGd capital obligations to RiFC
...............
HPrv ft* Q n o fn i« r o a o r T r o o t h v f l l i m f i A n
n l l n w j i n p p f n r In^iTict
A p p lic a tio n s a p p rov ed in p a rt
T o retire:
(«)
(6)
A p p lic a tio n s d isa p p rov ed o r re s c in d e d 7
T o retire:
T o reduce or cancel:
Preferred capital obligations held b y R F C 2...................................................
T*i-r>f
T\lf o l
Vl o l fl K v T? IT'
2
(6)
(6)
18,478,683
777,094
50,625
2,683,500
26,419
50,000
1,086,900
642,900
2,483,100
380.000
690.000
31,406
32,000
(6)
(6)
( 6)
( 6)
5,213,965
163,700
3,657,624
288,500
415.000
95,000
858.000
182,500
15.000
50.000
65.000
(5)
84,692
( 6)
( 6)
(6)
1,823,511
159,243
625
3,193,181
124,232
1,906,902
15.000
312,500
220,000
167,900
355,000
139,400
325,000
72,600
CORPORATION
T o make miscellaneous capital adjustments:
T o convert preferred capital not held b y R F C into common stock ........
T1r\ noxr pooVi r\rPTY1111TH fn H.Flj
-. ......
r p
rtooVt n r o m i n m c s ay i n r p f p r f p o r ^ l f p | 4
rto-ir
cV> n r o m i n m a tn p n m r n n n c t n p l r l i nln at*q
T o reduce surplus in connection with capital reduction s...........................
T o rGvisG common capital structure
.......................
INSURANCE
1935
T o sell additional capital:8
Preferred capital obligations to R F C ....................................................
Preferred capital to others than R F C ...................................................
Common stock .............................................................................................
225.000
285.000
289,500
20,000
25.000
10.000
165,000
97,000
130,000
261,800
63,319
170,000
15,819
20,000
20,000
2,000
2,000
Applications approved
T o repay or release restricted deposits:
T o repay waived deposits or certificates of beneficial interest........
T o release restricted or subordinated deposits....................................
T o release directors’ guaranty.....................................................................
T o release stockholders’ guaranty.............................................................
T o repay stockholders’ contributions.........................................................
7,417,923
4,039,127
2,305,908
15,000
408,378
1,137,352
1,534,705
150,500
3,081,326
2,389,422
828,984
1,655,950
90,000
482,125
1,075,300
444,200
269,507
25,000
105,800
37,500
127,972
94,328
58,500
11,950
Applications disapproved
T o repay or release restricted deposits:
T o repay waived deposits or certificates of beneficial interest........
T o release restricted or subordinated deposits....................................
T o release directors’ guaranty.....................................................................
T o repay stockholders’ contributions........................................................
1,091,039
236,757
373,416
185,000
171,388
159,655
41,500
80,928
50.000
119,216
15.000
18,802
212,700
503,600
8,300
335,123
T o make miscellaneous capital adjustments:
T o convert preferred capital not held b y R FC into common stock
T o pay cash premiums on preferred capital4.......................................
T o reduce surplus in connection with capital reductions.................
30,000
75.000
45.000
40.000
100,000
25,000
25,000
12,500
51,800
47,500
’ 150,000'
BY
THE
CORPORATION
ACTIONS
20,000
1 Banks not members of the Federal Reserve System.
2 T o reduce par but not retirable value.
? ^ e lu d es cas.es in which capital issues were to be sold for more than their par value and premiums transferred to surplus or undivided profits accounts.
4 1 hese premiums represent retirable value of preferred stock not carried on books.
5 £ he .n umber of shares was increased without changing the total amount of capital outstanding in order to facilitate a merger.
* Portions approved are included with applications approved in full; portions disapproved with applications disapproved or rescinded.
7 Includes applications first approved and later rescinded in full, not included as approved.
198,488
’ 294,299 ’
15,000
78,128
SUPERVISORY
T O A P P R O V E O T H E R F IN A N C IA L A D JU STM E N TS1
246
Table 175.
ACTION TO TERMINATE INSURED STATUS OF BANKS FOR ENGAGING IN UNSAFE OR UNSOUND BANKING PRACTICES
V
io l a t io n s
of
L aw
or
R e g u l a t io n s , A u g u st
23, 1935,
to
D
ecem ber
31, 1940
FEDERAL
or
Number of banks against which
action was started in— 1
io ta i
1939
1940
12
19
10
3
1
1
1
2
22
15
3
19
Insured status terminated for failure to make corrections3
• •
..................
9
14
6
4
1
38
2
6
4
14
12
Action deferred pending consummation of recapitalization or merger p la n s ....................
4
no r i nr r t vi dpf l hv law 'not’, pxnirpd
'C'liyfVioi- nr-APDOflinO'S ntllPPWISlP Hpfprrpd
..........................................................
1
.................................
2
1
3
1
2
1 N o action to terminate insured status of any bank was started before 1936. In 3 cases where initial action was replaced by action based upon additional charges, only
the latter action is included.
.
.
.
2 In the case of 2 banks against which action was started in 1939 and of 17 banks m 1940, resolutions relative to unsafe or unsound practices or violations of law or regulations
were formally adopted b y the Board of Directors of the Corporation, but the sending of statements to the appropriate supervisory agencies was indefinitely delayed.
* One of these 3 banks suspended 4 months after itsi nsured status was terminated.
4 The date for official termination of insured status was set in 5 of these cases, but was not effective before the banks suspended.
6 In all except 1 of these 38 cases, the Corporation made loans to facilitate the mergers or reorganizations.
CORPORATION
34
...........................................................................
Banks absorbed succeeded, or reorganized6
INSURANCE
25
97
D is p o s itio n as o f D e c e m b e r 31, 1940:
DEPOSIT
1938
1937
1936
T able 176.
UNSAFE OR UNSOUND BANKING PRACTICES AND VIOLATIONS OF LAW OR REGULATIONS UPON WHICH ACTION TO TERMINATE
I n s u r e d S t a t u s w a s S t a r t e d a g a in s t
97 I n s u r e d B a n k s , A u g u s t 23, 1935, t o D e c e m b e r 31, 1940
SUPERVISORY
Number of banks engaging in practice or violation1
Action started in -
T yp e of practice or violation
Total
1.
Capital:
(a)
Continued operation of bank with seriously impaired capital. . . .
13
18
10
19
(b)
Continued operation of bank although insolvent...............................
2
4
2
1
2
5
5
1
1
THE
Continued operation of bank with inadequate capital.....................
Other practices or violations:
Failure to take means suggested by examiners for restoration
of capital..............................................................................................
Reduction of capital without approval of the Corporation........
BY
(c)
(d)
19
ACTIONS
2.
1940
1939
1938
1937
1936
1
M anagem ent and general practices:
Maintenance of lax credit, loaning, and collection policies.............
66
19
18
10
12
7
(b)
Continued carrying of losses in bank’s assets, thereby failing to
disclose true statement of condition.................................................
63
9
15
9
12
18
(c)
Continued operation of bank b y weak, hazardous, untrustworthy,
or incapable m anagem ent....................................................................
53
8
15
10
13
7
(d)
Maintenance of lax investment policies...............................................
29
6
5
2
9
7
(e)
Unwarranted and excessive loans to directors, officers, employees,
and their interests..................................................................................
27
8
7
5
3
4
(f)
Failure to observe recommendations to remedy objectionable
practices or conditions..........................................................................
12
g
5
(g)
Deliberate misrepresentation to examiners regarding true con
dition of b a n k .........................................................................................
5
3
2
1
247
CORPORATION
(a)
Table 176.
UNSAFE OR UNSOUND BANKING PRACTICES AND VIOLATIONS OF LAW OR REGULATIONS UPON WHICH ACTION TO TERMINATE
248
I n s u r e d S t a t u s w a s S t a r t e d a g a in s t
97 In s u r e d B a n k s, A u g u s t 23, 1935, t o D e c e m b e r 31, 1940—Continued
Number of banks engaging in practice or violation1
Type of practice or violation
m
Action started in -
.|
Other practices or violations:
Failure of cashier to com ply with instructions of Board of
1
1
1
1
1
1
1
1
Failure of Board of D irectors to supervise management properly.
Failure of Board of Directors to attend regular meetings or to
/»nmn1v TiTi'fVj KqhV q
Failure to bond employees properly and to collect under surety
8
1
2
7
4
2
Continued em ploym ent of cashier known to have committed
gross irregularities
Excessive salaries and improper diversion of funds for personal
2
1
1
2
2
INSURANCE
3.
1
1
1940
DEPOSIT
Failure of B oard of Directors to make examinations as required
2
FEDERAL
(h)
1939
1938
1937
1936
1
L o a n a n d in v e s t m e n t p r a c t ic e s :
45
8
11
Failure to obtain and maintain current and adequate credit data
and financial statements, and failure to secure appraisal and
supporting documents on other real estate ow ned.........................
41
13
17
5
5
1
(c)
Unwarranted and excessive extensions of credit in violation of law
35
13
14
5
2
1
(d)
Continued carrying of unwarranted and excessive amounts of
other real estate owned and potential other real estate...............
42
4
2
9
17
10
(e)
Excessive volume of loans in Classifications I I and I I I 2..................
34
9
10
11
2
2
(f)
Excessive volume of assets in Classifications I I and III or generally
unsatisfactory asset condition2............................................................
39
3
3
2
13
18
(g)
Excessive volume of loans in Classification IV 2..................................
38
4
13
10
5
6
00
Excessive volume of assets in Classification IV 2
31
5
2
12
12
(i)
Excessive investment in substandard, speculative, and defaulted
securities
...................................................................................
16
4
6
3
3
CORPORATION
7
Excessive volume of past due or nonincome-producing loans........
(b)
7
12
(a)
(j)
1
2
7
5
1
5
12
1
Progressive deterioration of assets........................................................
(1)
Habitual granting or unwarranted payment of overdrafts...............
5
6
2
(m) Continued frozen or extended position of loan portfolio...................
7
4
1
(n)
Carrying of other real estate owned in excess of maximum time
permitted by law ....................................................................................
3
3
1
(o)
Unwarranted and excessive concentrations of credit........................
3
1
2
(p)
Other practices or violations:
Severe losses sustained and previously written off........................
Investm ent and retention of assets in contravention of existing
laws or regulations............................................................................
Unwarranted and excessive liability in connection with a certain
p rop erty...............................................................................................
1
1
9
5
Payment of interest on time deposits in violation of regulations. ..
3
7
3
(d)
Unwarranted or illegal payment or declaration of dividends or
interest on capital..................................................................................
2
2
3
(e)
Unsatisfactory administration of trust department or unauthorized
or illegal investment of trust fu n ds...................................................
(f)
Other practices or violations:
Continued borrowings, and large amount of assets pledged as
collateral security to borrowings....................................................
Failure to maintain legal reserves.....................................................
Low liquidity ra tio ................................................................................
Unwarranted amount of public funds on deposit in proportion
to net quick assets.............................................................................
N ot carrying on type of banking prescribed in its charter or
permitted by State law .....................................................................
Failure to maintain adequate reserves.............................................
Acceptance and carrying of public funds without complying
with State la w ....................................................................................
Negligent payment of certificates of deposit or of checks drawn
against fictitious balances................................................................
Failure to depreciate fixed assets properly......................................
Unwarranted and improper disbursement of bank’s funds..........
Unwarranted increase in salaries of officers and em ployees........
Unauthorized allocation of funds and credits to the payment
of personal obligations of officers..................................................
4
2
1
3
1
2
2
1
1
1
1
2
1
1
1
2
249
1
1 M ost of the banks engaged in several practices or violations. For the number of banks against which action was started each year, see Table 175.
2 For method of classifying assets, see Explanatory N ote to Part V , pages 86-87.
1
2
2
7
CORPORATION
(c)
2
THE
Poor or rapidly declining earnings........................................................
BY
(b)
ACTIONS
M is ce lla n e o u s:
(a)
Failure to maintain adequate bank records, continuance of in
accurate accounting procedures, and negligence in operating
m ethods....................................................................................................
2
SUPERVISORY
4.
Unwarranted and excessive volume of nonincome-producing assets.
(k)
INDEX
IN D E X
Page
Absorptions, consolidations, and mergers (see also Mergers of insured banks
with financial aid of the Corporation; Terminations of in
surance) :
Of insured banks, 1934-40......................................................................... 94, 104-09
Of insured banks since 1936............................................................................
38
Of noninsured institutions by or with insured banks............................19, 24, 243
Of operating banks, 1940.................................................................................
94
Actions of Federal Deposit Insurance Corporation.
Insurance Corporation.
See Federal Deposit
Adjusted capital account:
Amounts and ratios, insured commercial banks. See Capital of banks.
Definition...........................................................................................................
87
Adjusted value of assets.
Amounts and ratios, insured commercial banks. See Assets of insured
banks, analysis of examinations of.
Definition...........................................................................................................
86
Admissions to insurance:
Applications approved and disapproved................................................. 23, 240-41
By class of bank................................................................................................104-09
By status of bank............................................................................................. 104-09
By years, 1934-40............................................................................................. 104-09
Number during 1940..................................... ...................................................
95
Number since 1936...........................................................................................
38
Applications from banks:
For admission to insurance...........................................................19, 22, 23, 240-41
For approval of assumption of deposit liabilities of other banks... .19, 24, 243
For approval of change of location......................................................... 19, 22, 241
For approval of establishment of branches......................................19, 22, 23, 241
For approval of repayment or release of restricted, subordinated, or
waived deposits............................................................................... 24, 243
For approval of capital retirement or reduction......................19, 23-24, 242-43
For loans to facilitate mergers........................................................................
22
Appraised value of assets:
Amounts and ratios, insured commercial banks. See Assets of insured
banks, analysis of examinations of.
Definition...........................................................................................................
86
Assessments:
On insured banks for deposit insurance:
Amount................................................ ...................................................28, 29, 32
Basis o f .........................................................................................................
83
Rate..............................................................................................................
67
On stockholders of closed banks. See Banks closed because of financial
difficulties.
Assets and liabilities of closed banks.
placed in.
See Receivership, insured banks
Assets and liabilities of operating banks (see also Assets of insured banks,
analysis of examinations of; Capital of banks; Deposits; Fixed
and miscellaneous assets; Loans of insured commercial banks;
Securities):
All banks, 1935-40.............................................................................................
140
All commercial banks:
1919-40......................................................................................................... 42-43
1935-40............................................................................................... .........
141
253
254
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Assets and liabilities of operating banks (see also Assets of insured banks,
analysis of examinations of; Capital of banks; Deposits; Fixed
and miscellaneous assets; Loans of insured commercial banks;
Securities:— Continued.
All insured banks, 1935-40...............................................................................
140
Insured commercial banks:
Call dates, 1934-40............................................................................. 142, 144-47
Changes during 1934-40.............................................................................
39
Changes during 1940.................................................................................. 38-40
Insured commercial banks not members of the Federal Reserve System:
Call dates, 1934-40..................................................................................... 150-53
Insured commercial banks submitting reports to the Federal Deposit
Insurance Corporation:
Averages at call dates, 1936-40...............................................................205, 207
Banks grouped by amount of deposits:
Amount, December 31, 1940............................................................... 154-55
Amounts per $100 of total assets, 1940.............................................
213
Averages at call dates, 1940.................................................................
209
Averages per bank, December 31, 1940............................................. 156-57
Averages per bank at call dates, 1940...............................................
211
Percentage distribution, December 31, 1940..................................... 158-59
Banks grouped by population of center in which located.....................
215
Banks grouped by rate of income on loans.............................................
219
Banks grouped by rate of net earnings....................................................
217
Reports o f..................................................................................................... 24-25
Mutual savings banks, 1935-40.....................................................................141, 143
Noninsured banks, 1935-40................................................................... 141, 142, 143
Sources of data..................................................................................................
84
Assets and liabilities of the Federal Deposit Insurance Corporation.............. 30-33
Assets of banks, losses on, 1865-1940................................................................... 61-65
Assets of banks purchased by the Federal Deposit Insurance Corporation.
See Bank assets purchased by the Corporation.
Assets of insured banks, analysis of examinations of (see also Fixed and
miscellaneous assets; Fixed and substandard assets ratio;
Loans of insured commercial banks; Securities):
Definitions of terms used................................................................................. 85-88
Insured commercial banks, 1940:
Appraised values of total assets, securities, loans, and fixed and
miscellaneous assets, amounts and ratios:
Banks grouped by amount of deposits............................169, 171, 173, 175
Banks grouped by Federal Deposit Insurance Corporation
District.......................................................................... 176, 178, 180, 182
Banks grouped by fixed and substandard asset ratios. .168, 170, 172, 174
Banks grouped by net sound capital ratios....................168, 170, 172, 174
Banks grouped by rate of average net earnings............ 169, 171, 173, 175
Banks grouped by State.........................................................176-79, 180-83
Definition...............................................................................................
86
Summary................................................................................................
44
Banks included, by month of examination.............................................
85
Book values:
Amounts and ratios. See Appraised values, etc.
Definition...............................................................................................
86
Discussion o f................................................................................................ 43-45
Examiners’ (net) deductions:
Amounts and ratios. See Appraised values, etc.
Definition...............................................................................................
86
Substandard:
Amounts and ratios. See Appraised values, etc.
Definition...............................................................................................
86
Uncriticized:
Amounts and ratios. See Appraised values, etc.
Definition...............................................................................................
87
INDEX
255
Page
Assets of insured banks, analysis of examinations of (see also Fixed and
miscellaneous assets; Fixed and substandard assets ratio;
Loans of insured commercial banks; Securities):— Continued.
Insured commercial banks examined by the Federal Deposit Insurance
Corporation:
Ratios of appraised to book value, banks grouped by amount of
deposits:
Of assets, 1940.......................................................................................
Of loans, 1934-40...................................................................................
Of total assets, 1933-40........................................................................
Sources of data..................................................................................................
189
188
187
85
Assets of insured banks, quality of (see also Assets of insured banks, analysis
of examinations o f):
Assets charged o ff...................................................................................44, 47, 52-55
Improvement since 1933............................................................................... 3, 43-44
Relation to deposit insurance..........................................................................
70
Assets pledged to secure bank obligations....................................................9, 147, 153
Bank assets purchased by the Corporation:
From banks in receivership to facilitate liquidation............................. 18, 32, 234
From banks merged with financial aid of the Corporation. See Mergers
of insured banks with financial aid of the Corporation.
Bank examinations.
See Examination of banks.
Bank management.
See Management of banks, quality of.
Bank supervision (see also Examinations of banks):
Competition in................................................................................................... 12-13
Demand fo r ....................................................................................................... 10-11
Deposit insurance and.....................................................................11-13, 64, 66, 70
Objectives o f...................................................................................................... 11-13
Prior to Federal deposit insurance.............................................................10, 12, 13
State legislation regarding during 1940......................................................... 26-27
Supervisory activities of the Federal Deposit Insurance Corporation:
Actions to terminate insured status of banks engaged in unsafe or un
sound practices or violations of law or regulations......................
................................................................................19, 20-23, 246, 247-49
Admission of banks to insurance........................................... 19, 22, 23, 240-41
Approval of capital adjustments............................................... 242-43, 244-45
Approval of change of location of banking offices...........................19, 22, 241
Approval of establishment of branches...................................... 19, 22, 23, 241
Approval of miscellaneous financial adjustments..................... 242-43, 244-45
During 1940 and 1934-40........................................................................... 18-25
Powers of the Corporation.....................................................................12, 18-19
To secure correction of hazardous situations..........................................
3, 4
Bankers’ directories, data obtained from................................................. 73, 81, 83, 84
Banking offices, establishment of:
Banks beginning operations:
By class, 1940..............................................................................................
94
Insured banks, 1934-40...............................................................................104-09
Banks opened, or opening contemplated, approved for insurance............. 240-41
Branches, establishment approved by Corporation..................................... 23, 241
Branches opened...............................................................................................
95
Banking offices, number of. See Number of Banking offices in center;
Number of operating banking offices.
Banking practices. See Bank supervision; Unsafe and unsound banking
practices.
Banks beginning operations.
See Banking offices, establishment of.
Banks ceasing operations:
By class of bank, 1940..................................................................................... 94-95
Insured banks, by class, 1934-40................................................................... 104-09
256
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Banks closed because of financial difficulties (see also Mergers of insured
banks with financial aid of the Corporation; Receiverships,
insured banks placed in ):
D ep ositor and Federal Deposit Insurance Corporation losses in insured
banks, 1934-1940..................................................................13, 14, 62, 63
Depositors' losses in, 1865-1940:
Amount.........................................................................................................62, 63
By 20-year periods...........................................................................62, 63, 68, 69
By years, 1921-40.......................................................................................
66
In crisis and other years........................................................... 62, 64, 67, 68, 69
Method of estimation................................................................................. 70-73
On balances not exceeding $5,000................................................. 66, 67, 68, 69
Prior to and subsequent to Federal deposit insurance................62, 63, 68, 69
Rates of loss.................................................................................3, 11, 62, 63, 69
Depositors protected by the Federal Deposit Insurance Corporation:
Number o f.................................................................................................3, 13, 14
Number of accounts in banks merged with financial aid of the Cor
poration............................................................................................ 232-33
Number of, in insured banks placed in receivership..............................
238
Proportion fully protected......................................................................... 11, 12
Insured banks placed in receivership or merged with financial aid of the
Corporation:
Deposits protected......................................................................................
16
Disbursements by the Corporation in connection with..................... 12, 13-17
Loss to depositors.....................................................................................3, 13-15
Loss to Federal Deposit Insurance Corporation......................3, 13-14, 17-18
Loss to stockholders in merged banks.....................................................
15
Number and deposits of, 1934-40:
By amount of deposits.........................................................................
226
By class of bank....................................................................................226-27
By State.................................................................................................226-27
By year...................................................................................................
226
Number and deposits of, 1940:
By amount of deposits.........................................................................
230
By class of bank...................................................................................
230
By State........ ........................................................................................
230
Number of, and loss to depositors, 1865-1933..............................................
9
Stockholders’ losses in, 1865-1940:
Amount........................................................................................................ 62, 63
Assessments.............................................................................................66, 68, 69
In crisis and other years................................................................. 62, 63, 68, 69
Method of estimation................................................................................. 70-73
Prior to and subsequent to Federal deposit insurance................62, 63, 68, 69
Related to deposits..................................................................................... 63, 69
Suspensions:
Number and deposits, 1934-40:
By amount of deposits.........................................................................
222
By class of bank....................................................................................222-23
By State................................................................................................. 222-23
By year...................................................................................................
222
Number and deposits, 1940:
By amount of deposits.........................................................................
228
By class of bank............................................................................. 94-95, 228
By State.................................................................................................
228
Number, compared with receiverships and mergers.............................. 90-91
Of banks charged with unsafe and unsound banking practices. .20-21, 246
Terminations of insured status b y ..................................................... 38, 104-09
Banks operating branches. See Banking offices, establishment of; Number
of banks operating branches; Reports from banks.
Board of Directors of the Federal Deposit Insurance Corporation.................. 5, 27
Board of Governors of the Federal Reserve System:
Approval of capital retirement or reduction.................................................
23
Data obtained from ..................................................................................... 81, 84, 88
Examination by Corporation of banks under jurisdiction o f ......................
22
Regulations regarding payment of interest on deposits, power to issue..
19
Review of examination reports submitted b y ...............................................
22
INDEX
257
Page
Book values of bank assets and liabilities. See Assets and liabilities of
operating banks; Assets of insured banks, analysis of examina
tions of; Capital of banks.
Branches.
See Banking offices, establishment of; Classification of banks
and banking offices; Number of banks operating branches;
Number of branches.
Capital of banks (see also Assets and liabilities of operating banks; Earnings,
expenses, and dividends of insured banks; Reconstruction
Finance Corporation investment in capital of banks):
Analysis of examinations of insured commercial banks, 1940:
Book value:
Amounts and ratios. See Net sound capital, etc.
Definition...............................................................................................
87
Discussion o f ............................................................................................... 45-47
Examiners’ net deductions:
Amounts and ratios. See Net sound capital, etc.
Definition...............................................................................................
86
Net sound capital, amounts and ratios:
Banks grouped by amount of deposits............................................ 161, 163
Banks grouped by Federal Deposit Insurance Corporation
Districts......................................................................................... 164, 166
Banks grouped by fixed and substandard asset ratios.................. 160, 162
Banks grouped by net sound capital ratios.................................... 160, 162
Banks grouped by rate of average net earnings............................. 161, 163
Banks grouped by State........................................................ 164-65, 166-67
Definition...............................................................................................
87
Private capital:
Amounts and ratios. See Net sound capital, etc.
Definition...............................................................................................
87
Supplied by Reconstruction Finance Corporation:
Amounts and ratios. See Net sound capital, etc.
Definition................................................................................................
87
Analysis of examinations of insured commercial banks examined by the
Federal Deposit Insurance Corporation, 1933-40:
Net sound capital ratios to assets, banks grouped by amount of
deposits.............................................................................................
186
Net sound capital ratios to deposits, banks grouped by amount of
deposits.............................................................................................
186
Net sound capital ratios to total capital accounts, banks grouped by
amount of deposits.........................................................................
186
Capital ratios in 1940 and prior thereto........................................................
70
Net sound capital ratios to assets, insured commercial banks grouped
by, 1940:
Analysis of examinations of capital and liabilities, amounts and
ratios....................................................... ....................................... 160, 162
Appraised values of total assets, securities, loans, and fixed and
miscellaneous assets— amounts and ratios................168, 170, 172, 174
Deposits o f ...................................................................................................
185
Number o f ...................................................................................................
184
Percentage distribution of number and deposits, compared with 1939
46
Of insured banks placed in receivership.........................................................
237
Reductions and retirements approved by the Corporation.23-24, 242-43, 244-45
Total capital accounts of insured commercial banks:
Amount, banks examined in 1940.............................................. 160-61, 164-65
Amount, call dates, 1935-40....................................................................142, 147
Changes during 1934-40.............................................................................
39
Definition.....................................................................................................
87
Total capital accounts of insured commercial banks not members of the
Federal Reserve System, amount, call dates, 1934-40...............
153
Total capital accounts of insured commercial banks submitting reports
to the Federal Deposit Insurance Corporation. See Assets and
liabilities of operating banks.
Unsafe and unsound practices..................................................... 20-22, 246, 247-49
Cash depositories......................................................................... 81, 199, 200, 201, 203
258
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Cash held by banks (see also Assets and liabilities of operating banks; Assets
of insured banks, analysis of examinations o f)..................39-40, 42-43
Charge-offs on bank assets (see also Earnings, expenses, and dividends of
insured commercial banks):
Insured commercial banks............................................................................... 52-55
Net, in operating banks, 1865-1940:
Amount......................................................................................................... 62, 66
By 20-year periods...................................................................................... 62, 63
In crisis and other years.............................................................................62, 63
Method of estimation................................................................................. 70-73
Prior and subsequent to Federal deposit insurance................................62, 63
Rates o f........................................................................................................
63
Class of bank, banking data presented by:
Admissions to and terminations of insurance............................................... 104-09
Assets and liabilities.........................................................................................140-43
Banks which suspended operations........................................................222-23, 228
Deposits.................................................................................128-29, 130-31, 132-33
Earnings of insured banks............................................................................... 194-95
Insured banks placed in receivership or merged with financial aid from
the Corporation..........................................224-25, 226-27, 229, 230-31
Number of banking offices........................................92-93, 94-95, 96-103, 110-11
Number of banks................................................................. 104-09, 112-13, 114-15
Classification of banks and banking offices..................................................... 81-82, 84
Closed banks. See Banks ceasing operations; Banks closed because of
financial difficulties; Receivership, insured banks placed in.
Commercial banks. See Assets and liabilities of operating banks; Assets of
insured banks, examiners’ analysis of; Capital of banks; De
posits; Earnings, expenses, and dividends of insured banks;
Number of operating banks.
Commercial banking offices.
See Number of operating banking offices.
Comptroller of the Currency:
Approval of capital retirement or reduction.................................................
23
Data obtained from ..................................................................71, 73, 81, 84, 85, 88
Director of Corporation...................................................................................
27
Examination by Corporation of banks under jurisdiction o f......................
22
Examination of insured banks b y ...................................................................
22
Insured banks not members of the Federal Reserve System reporting t o ..
24
Review of reports of examinations made b y ................................................. 18-19
Consolidations.
See Absorptions, consolidations, and mergers.
Consumer loans.
See Instalment consumer loans.
Crisis periods, losses during. See Banks closed because of financial diffi
culties; Losses on bank assets, 1865-1940.
Defense program, effect on insured banks............................................... 39, 40, 43, 47
Demand deposits.
See Assets and liabilities of operating banks.
Department of Commerce, request for consumer loan data.............................
Depositors’ claims against closed insured banks.
banks placed in.
See Receivership, insured
Depositors protected by the Corporation in banks in financial difficulties.
See Banks closed because of financial difficulties.
Depositors’ losses. See Banks closed because of financial difficulties; Re
ceivership, insured banks placed in.
24
INDEX
259
Page
Deposits:
Adjusted............................. ...........................................................87,160-61,164-65
Amount of, banks or banking offices grouped by:
All banking offices............................................................................110, 116, 128
All banks................................................................................................... 112, 130
All commercial banks..........................................................c . . .120-23, 134-37
All mutual savings banks............................................................ 126-27, 138-39
Banks operating branches....................................................................... 113, 131
Banks which received financial aid from the Federal Deposit In
surance Corporation..............................................16, 224, 226, 229, 230
Banks which suspended operations........................................................222, 228
Branches............................................................................................ I l l , 117, 129
Head offices of banks operating branches..................................... I l l , 117, 129
Insured commercial banks examined by the Federal Deposit In
surance Corporation, 1933-1940................................. 186, 187, 188, 189
Insured commercial banks examined in 1940
................................................47, 161, 163, 169, 171, 173, 175, 184, 185
Insured commercial banks operating throughout 1940.. 196,197,199, 201, 202
Insured commercial banks submitting reports to the Federal Deposit
Insurance Corporation.........................154-59, 208-09, 210-11, 212-13
Unit banks....................................................................... 110, 112, 116, 128, 130
Assumption of by other banks.......................................................................24, 243
Claims barred.................................................................................................... 14-15
Classified by type of deposit. See Assets and liabilities of operating
banks.
Definition:
For assessment purposes............................................................................
83
For reports of assets and liabilities..........................................................
85
In reports of examinations......................................................... ...............83, 87
Demand. See Assets and liabilities of operating banks.
Insured and otherwise protected:
In banks placed in receivership or merged with financial aid of the
Corporation..................................................................................... 15-17
In banks placed in receivership................................................. 16-17, 238, 239
Interbank. See Assets and liabilities of operating banks.
Interest on. See Deposits, time and savings.
Of individuals, partnerships, and corporations:
Amount. See Assets and liabilities of operating banks.
Change during 1940...................................................................................
39
Paid and unpaid in closed insured banks...................................................17, 239
Payments of, to insured depositors. See Receivership, insured banks
placed in.
Postal savings deposits. See Assets and liabilities of operating banks.
Preferred. See Deposits, secured and preferred.
Protected by the Corporation. See Deposits, insured or otherwise
protected.
Public funds. See Assets and liabilities of operating banks.
Secured and preferred:
Insured banks placed in receivership..................................................... 17, 238
Insured commercial banks.........................................................................
147
Insured commercial banks not members Federal Reserve System.......
153
Sources of data................................................................................................. 83-84
Subject to offset. See Receivership, insured banks placed in.
Time and savings:
Amount. See Assets and liabilities of operating banks.
Interest paid on:
Amount of. See Earnings, expenses, and dividends of insured banks.
Definition and computation of rate o f ...............................................
89
Rates o f ....................................................................................... 49-51, 56-57
Rates of, banks grouped b y .............................................................. 202, 203
Regulation of Corporation regarding.................................................19, 51
Ratio to total deposits, banks grouped b y ........................................... 200, 203
Uninsured:
Assumption of, by insured banks.............................................................24, 243
Of insured banks placed in receivership................................................. 17, 238
United States government. See Assets and liabilities of operating banks.
Unsecured. See Receivership, insured banks placed in.
260
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Deposits in:
All banking offices, June 29, 1940...................................................................
128
All banks, call dates, 1935-40..........................................................................
140
All banks, June 29, 1940................................................................... 130-31, 132-33
All commercial banks, call dates, 1935-40.....................................................
141
All commercial banks:
June 29, 1940...............................................................................................134-37
Change during 1919-40............................................................................... 42-43
All insured banks, call dates, 1935-40........................................................... 83, 140
All insured banks, June 29, 1940................................................................. 130, 132
All mutual savings banks, call dates, 1935-40..............................................
141
All mutual savings banks, June 29, 1940..................................... 130, 132, 138-39
All offices of banks operating branches, June 29, 1940................................
129
Banks closed because of financial difficulties, 1921-40.................................
66
Banks grouped by amount of deposits, June 29, 1940................................ 130-31
Banks having inadequate capital................................................................... 46-47
Banks located in each State and possession..................................................134-37
Banks merged with financial aid of the Corporation... .15, 83, 224-25, 229, 232
Banks operating branches, June 29, 1940................................................... 129, 131
Banks receiving financial aid from the Corporation:
1934-40............................................................................. 3, 13,14,226-27
1940.................................................................................................. 14,230
Branches, June 29, 1940...................................................................................
129
Commercial banks in each State, grouped by amount of deposits............ 134-37
Head offices of banks operating branches, June 29, 1940............................
129
Insured banks merged with financial aid of the Corporation
............................................................................. 15, 83, 224-25, 229, 232
Insured banks placed in receivership..................................... 15, 17, 237, 238, 239
Insured banks placed in receivership or merged with financial
aid of the Corporation............................................... 13-14, 226-27, 230
Insured commercial banks:
At time of examination, 1940. See Deposits, adjusted.
Call dates, 1934-40................................................................................... 142, 146
Change during 1940.................................................................................... 39-40
June 29, 1940.............................................................................. 130, 132, 134-37
Insured commercial banks not members of the Federal Reserve System:
Call dates, 1934-40.....................................................................................
152
June 29, 1940.............................................................................................130, 132
Insured commercial banks submitting reports to the Federal Deposit
Insurance Corporation:
Average per bank at call dates, 1940.......................................................
211
Average per $100 of total assets at call dates, 1940............213, 215, 217, 219
Averages at call dates, 1936-40...............................................................205, 207
December 31, 1940, banks grouped by amount of deposits:
Amount, by type of deposit.................................................................
155
Average per bank..................................................................................
157
Ratio to total liabilities and capital accounts...................................
159
Insured mutual savings banks:
Call dates, 1935-40......................................... ...........................................
143
December 31, 1940.....................................................................................
56
June 29, 1940.............................................................................. 130, 132, 138-39
Noninsured banks:
Call dates, 1935-40....................................................................83, 141, 142, 143
June 29, 1940....................................................130-31, 132-33, 134-37, 138-39
Suspended banks................................................................................ 83, 222-23, 228
Unit banks, June 29, 1940.............................................................................128, 130
Disposition of profits. See Earnings, expenses, and dividends of insured banks.
Dividends:
To depositors in mutual savings banks................................................... 56-57, 221
To stockholders of operating insured banks:
Amount of. See Earnings, dividends, and expenses of insured banks.
Rates o f........................................................................................................
55
Relation to bank failures...........................................................................
61
Relative to net earnings and net profits..................................................
56
Double liability.
See Stockholders of banks.
INDEX
261
Page
Earnings, expenses, and dividends of insured banks:
Insured commercial banks, 1934-40:
Amounts.......................................................................................... 48, 49, 190-91
Discussion o f ................................................................................................ 47-56
Interest received and paid......................................................................... 48-50
Net charge-offs............................................................................................ 52-55
Rates of dividends................................. ....................................................
55
Rates of income received and interest paid............................................. 50-51
Rates of net earnings and net profits....................................................... 51-52
Ratios........................................................................................................... 192-93
Trends of earnings and expenses............................................................... 47-48
Insured commercial banks, 1940:
Amounts, by class of bank.........................................................................194-95
Discussions of.............................................................................................. 47-56
Number of banks operating throughout the year grouped by:
Rate of income on loans.................................................................... 199, 200
Rate of interest paid on time and savings deposits....................... 202, 203
Rate of net earnings. See Earnings of insured commercial banks,
net.
Rate of net profits.............................................................................. 197, 198
Ratios of loans to total assets...................................................200, 201, 203
Ratio of time and savings to total deposits....................................200, 203
Insured commercial banks submitting reports to the Federal Deposit
Insurance Corporation:
Amounts, 1934-40....................................................................................... 204-05
Amounts, 1940, banks grouped by amount of deposits......................... 208-09
Averages per bank, 1940, banks grouped by amount of deposits........ 210-11
Differences in reporting, 1934-35..............................................................
90
Ratios, 1934-40........................................................................................... 206-07
Ratios, 1940:
Banks grouped by amount of deposits............................................... 212-13
Banks grouped by population of center............................................. 214-15
Banks grouped by rate of income on loans........................................218-19
Banks grouped by rate of net earnings..............................................216-17
Insured mutual savings banks:
Amounts, 1934-40....................................................................................... 220-21
Discussion o f ............................................................................................... 56-57
Sources of data..................................................................................................
88
Earnings of insured commercial banks, net:
Amounts of. See Earnings, expenses, and dividends of insured banks.
Discussion o f ..................................................................................................... 51-52
Rate in 1940, banks grouped by:
Number o f ............................................................... 196, 198, 199, 201, 202, 203
Ratios, banks submitting reports to the Corporation............................216-17
3-year average rate, banks grouped by:
Assets o f.................................................................................... 169, 171, 173, 175
Capital o f...................................................................................................161, 163
Definition.....................................................................................................
87
Deposits o f ...................................................................................................
185
Liabilities o f.................................................................................................
161
Number o f ....................................................................................................
184
Employees, Federal Deposit Insurance Corporation..........................................
5, 27
Employees of banks, number of:
Insured commercial banks:
By years, 1936-40.....................................................................................191,
December 31, 1940, by class of bank.......................................................
Insured commercial banks submitting reports to the Corporation:
By years, 1934-40.....................................................................................205,
December 31, 1940, of banks grouped by amount of deposits........... 209,
Examiners:
Analysis of bank examinations made by. See Assets of insured banks,
analysis of examinations of; Capital of banks.
Employed by the Corporation. See Employees, Federal Deposit In
surance Corporation.
193
195
207
211
262
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Examinations of banks (see also Assets of insured banks, analysis of examina
tions of; Capital of banks):
Banks cited for unsafe and unsound practices.............................................. 19-22
Banks examined by the Federal Deposit Insurance Corporation..............
84
Data from reports of examination, banks examined by the
Corporation...................................................................186, 187, 188, 189
Definition of terms........................................................................................... 85-88
Development of uniform examination procedure..........................................
85
Examination by Federal Deposit Insurance Corporation of banks under
jurisdiction of other Federal agencies...........................................
22
22
In connection with loans and purchase of assets of insured banks............
Number by Federal Deposit Insurance Corporation, 1940.........................
22
Review of examinations made by Comptroller of Currency and Federal
Reserve banks..................................................................................
22
Tabulation of, 1940...........................................................................................
85
Expenses of banks.
See Earnings, expenses, and dividends of insured banks.
Expenses of the Federal Deposit Insurance Corporation.
Insurance Corporation.
See Federal Deposit
Failures:
Of banks. See Banks closed because of financial difficulties.
Of State deposit guaranty funds.....................................................................
10
Federal bank supervisory authorities (see also Board of Governors of the
Federal Reserve System; Comptroller of the Currency; Federal
Deposit Insurance Corporation; Federal Reserve banks):
................................................................................... 22, 23, 24, 70, 71, 73
Federal Deposit Insurance Corporation:
Actions by:
On applications from banks. See Applications from banks.
To terminate insured status of banks................................................19-22, 246
Assessments on insured banks............................................................. 11, 28, 29, 32
Assets and liabilities......................................................................................... 30-33
Audit.................................................................................................................. 31-33
Balance sheet................................................................................................ 30, 32-33
Banks reporting to (see also Assets and liabilities of operating banks;
Earnings, expenses, and dividends of insured banks)................
84
Bank supervision by. See Bank supervision.
Board of Directors............................................................................................ 5, 27
Borrowing power...............................................................................................
33
Capital.......................................................................................................3, 11, 30, 32
Chief creditor of insured banks....................................................................... 12, 18
Claims held against suspended and merged banks.......................................
29
Collections from insured banks in financial difficulties................................
17
Contracts used in bank mergers and consolidations....................................
16
Created............................................................................................................... 3,11
Depositors protected from loss by. See Banks closed because of financial
difficulties.
Disbursements for protection of depositors.........................................12,13-17, 30
Districts.............................................................................................................
88
Divisions............................................................................................................. 5, 27
Employees.......................................................................................................... 5, 27
Examination of banks (see also Examinations of banks)....................... 18-19, 22
Expenses..............................................................................................3, 17, 28-29, 33
Income.......................................................................................................3, 28-29, 32
Insurance limit...................................................................................................
11
Insured banks receiving financial aid from. See Banks closed because of
financial difficulties.
Investments....................................................................................................... 30-33
Liquidation of assets of insured banks in financial difficulties... .15, 16, 17, 234
Loans to and purchase of assets from insured banks. See Mergers of
insured banks with financial aid of the Corporation.
Losses incurred. See Losses of the Federal Deposit Insurance Corporation.
Officers................................................................................................................ 5, 27
Operations.......................................................................................................... 13-33
INDEX
263
Page
Federal Deposit Insurance Corporation:— Continued.
Organization and staff...................................................................................... 5, 27
Payments to insured depositors..................................................................... 17, 239
Policies.............................................................................................................4, 11-13
Powers.................................................................................................................19, 20
Protection of depositors. See Banks closed because of financial difficulties.
Purchase of assets to facilitate completion of liquidation of banks in
receivership...................................................................................... 18, 234
Purposes of deposit insurance.......................................................... 4, 11, 13, 66-67
Receiver for insured banks............................................................................. 18, 235
Recoveries from banks in financial difficulties.............................................. 17-18
Regulations, power to issue.............................................................................
19
Repayments to .................................................................................................. 17-18
Reports from banks.......................................................................................... 24-25
Reserves for losses............................................................................................. 29-33
Risks of loss.......................................................................................................
20
State legislation affecting operations, 1940................................................... 25-26
Supervisory activities. See Bank supervision.
Surplus............................................................................................................... 28-33
Federal Deposit Insurance Corporation Districts:
Banks classified b y ....................................................... 164, 166, 176, 178, 180, 182
States and possessions served.............................. ...........................................
88
Federal insurance of deposits, role o f...................................................................
11
Federal Reserve banks:
Data obtained from..........................................................................................
Review of bank examinations made b y .........................................................
85
22
Federal Reserve Committee on Branch, Group and Chain Banking, data
obtained from..................................................................................
72
Fixed and miscellaneous assets, analysis of examinations o f:
Insured commercial banks, 1940..........................170-71, 174-75, 178-79, 182-83
Insured commercial banks examined by the Federal Deposit Insurance
Corporation, 1940...........................................................................
189
Fixed and substandard assets ratio of insured commercial banks (see also
Assets of insured banks, analysis of examinations of; Capital of
banks):
Banks classified b y .................................45, 160, 162, 168, 170, 172, 174, 184, 185
Definition........................................... ...............................................................
87
Discussion.......................................................................................................... 44-45
Guaranty of bank obligations, prior to Federal deposit insurance.............. 9-11, 13
Hazardous banks. See Insolvent or hazardous banks; Weak or hazardous
banks.
Head offices of branch systems.
See Number of banks operating branches.
Insolvent or hazardous insured banks:
Method of protecting depositors in ................................................................
16
Number eliminated, 1940............................................................................... 19, 23
Operating at close of 1940...............................................................................
20
Placed in receivership or merged with financial aid of the Corporation.
See Banks closed because of financial difficulties.
Supervisory action regarding...........................................................................3, 246
Instalment consumer loans.................................................................................. 40-42
Institutions excluded from figures of operating banks......................................
82
Insurance status, banks classified by:
Assets and liabilities o f.....................................................................................140-43
Deposits o f ................................................128-29, 130-31, 132-33, 134-37, 138-39
Number o f .................................. 96-103, 110-11, 112-13, 114-15, 120-23, 126-27
264
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Insured and otherwise protected deposits.
See Deposits.
Insured banks. See:
Absorptions, consolidations, and mergers;
Admissions to insurance;
Assets and liabilities of operating banks;
Assets of insured banks, analysis of examinations of;
Assets of insured banks, quality of;
Banking offices, establishment of;
Banks ceasing operations;
Banks closed because of financial difficulties;
Capital of banks;
Charge-offs on bank assets;
Classification of banks and banking offices;
Class of bank, banking data presented by;
Deposits;
Deposits in;
Earnings, expenses, and dividends of insured banks;
Earnings of insured commercial banks, net;
Employees of banks, number of;
Examinations of banks;
Insolvent or hazardous insured banks;
Loans of insured commercial banks;
Mergers of insured banks with financial aid of the Corporation;
Mutual savings banks;
Number of banks operating branches;
Number of branches;
Number of operating banking offices;
Number of operating banks;
Number of unit banks;
Receivership, insured banks placed in;
States, banking data by;
Securities;
Terminations of insurance;
Unsafe and unsound banking practices;
Weak or hazardous banks.
Insured commercial banks not members of the Federal Reserve System. See
Class of bank, banking data presented by; Insured banks.
Insured commercial banks submitting reports to the Federal Deposit In
surance Corporation. See Insured banks.
Insured deposits.
See Deposits.
Insured mutual savings banks.
See Mutual savings banks.
Insured State banks members of the Federal Reserve System. See Class of
bank, banking data presented by; Insured banks.
Interbank deposits.
See Assets and liabilities of operating banks.
Interest (see also Earnings, expenses, and dividends of insured banks):
On loans. See Loans of insured commercial banks.
On securities held by insured banks, rate of, 1934-40.................................. 50-51
On time and savings deposits. See Deposits, time and savings.
Investments of banks. See Assets and liabilities of operating banks; Securities;
Unsafe and unsound banking practices.
Investments of the Federal Deposit Insurance Corporation........................28, 30, 32
Law, violations of by insured banks........................................................19-22, 246-49
Legislation, Federal, concerning robbery of a bank........................................... 25, 77
Legislation, State, enactments in 1940................................................................. 25-27
Liquidation, banks placed in.................................................................... 38, 94, 104-09
INDEX
265
Page
Loans of insured commercial banks (see also Assets and liabilities of operating
banks; Assets of insured banks, analysis of examinations of;
Earnings, expenses, and dividends of insured banks; Instalment
consumer loans; Unsafe and unsound banking practices):
Analysis of examinations of banks examined by Federal Deposit Insurance
Corporation................................................................................... 188, 189
Analysis of examinations of insured commercial banks:
Appraised and book values, deductions (net), substandard, and not
criticized.......................................................................44, 170-71, 178-79
Ratios of appraised value to book value.............................44, 174-75, 182-83
Banks classified by ratio to total assets..............................................200, 201, 203
Changes during 1934-40................................................................................... 39-40
Rate of income on:
Banks classified b y ..................................................................... 199, 200, 218-19
Definition.....................................................................................................
89
During 1934-40........................................................................................... 50-51
Types o f .............................................................................................................
40
Loans to insolvent or hazardous insured banks by Federal Deposit Insurance
Corporation. See Mergers of insured banks with financial aid
of the Corporation.
Location of insured banks, changes approved by Corporation........................
241
Losses on bank assets, 1865-1940 (see also Banks closed because of financial
difficulties; Charge-offs on bank assets):
Amount.......................................................................................................... 61-63, 66
In crisis and other periods.................................................................... 62, 63, 64-65
Method of estimation....................................................................................... 70-73
Prior and subsequent to Federal deposit insurance......................................62, 63
Rates o f..............................................................................................................
63
Relation to depositors’ and stockholders’ losses...........................................
61
Losses of banks:
Accumulation of, in the banking system....................................................... 18, 61
Amounts and rates. See Charge-offs on bank assets; Earnings, expenses,
and dividends of insured banks.
Prevention by supervisory activity of the Corporation..............................
18
Losses of the Federal Deposit Insurance Corporation:
Concentration in certain banks....................................................................... 12, 13
During 1940.......................................................................................................
14
During seven years of deposit insurance................................. 3, 13, 14, 17, 62, 63
Management of banks, quality of:
Banks cited for unsafe and unsound banking practices.................. 19-22, 247-48
In weak banks................. .................................................................................
4
Mergers. See Absorptions, consolidations, and mergers; Mergers of insured
banks with financial aid of the Corporation.
Mergers of insured banks with financial aid of the Corporation (see also Banks
closed because of financial difficulties):
Applications from banks..................................................................................
22
Assets purchased...............................................................................................
3
Banks cited for unsafe and unsound practices............................................. 19-22
Classification of banks...................................................................................... 90-91
Collections by Corporation on assets purchased or held as collateral.......
17
Deposits protected............................................................................................
16
Disbursements by Corporation..........................................15, 224-25, 229, 232-33
Loans and assets purchased, held by the Corporation................................ 29-30
Losses incurred by Corporation......................................................................13,17
M ethod...............................................................................................................
15
Names and location of banks merged............................................................232-33
Number of banks merged......................................................... 15, 224-25, 229, 232
Procedure...........................................................................................................
16
Protection afforded depositors, 1934-40.........................................................
16
Repayments to Corporation............................................................................ 17-18
Morris Plan banks, classification o f .....................................................................
81
266
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Mutual savings banks:
Insured:
Admissions to and terminations of insurance, 1934-40..........................108-09
Assets and liabilities, December 31, 1935-40.................................... 56-57, 143
Capital investment of the Reconstruction Finance Corporation in___
56
Changes during 1934-40............................................................................. 108-09
Changes during 1940.............................................................................. 56, 94-95
Classification...............................................................................................
82
Deposits:
By amount of deposits, June 29, 1940.................. 128-29, 130-31, 138-39
By State, June 29, 1940.........................................................132-33, 138-39
By type of bank, June 29, 1940........................................... 128-29, 130-31
December 31, 1935-40..........................................................................
143
December 31, 1940................................................................................
56
Earnings, expenses, and disposition of profits............................ 56-57, 220-21
Number:
By amount of deposits, June 29, 1940................................ 112-13, 126-27
By State, December 31, 1940..............................................................96-103
By State, June 29, 1940.........................................................114-15, 126-27
By type of bank, December 31, 1940.......................................... 93, 96-103
By type of bank, June 29, 1940..........................................................112-13
Call dates, 1935-40...............................................................................
143
December 31, 1935-40..........................................................................
93
Placed in receivership or merged with financial aid of the Corporation.
91
Insured and noninsured:
Assets and liabilities, December 31, 1935-40........................................141, 143
Changes during 1940.................................................................................. 94-95
Classification...............................................................................................
82
Deposits:
By amount of deposits, June 29, 1940.................. 128-29, 130-31, 138-39
By State, June 29, 1940........................................................ 132-33, 138-39
By type of bank, June 29, 1940....................................................... 130-31
Call dates.............................................................................................141, 143
Number:
By amount of deposits, June 29, 1940............................... 112-13, 126-27
By State, December 31, 1940..............................................................96-103
By State, June 29, 1940......................................................... 114-15, 126-27
By type of bank, December 31, 1940.......................................... 93, 96-103
December 31, 1935-40...........................................................................
93
Sources of data............................................................................................
81
National banks. See Class of bank, banking data presented by; Comptroller
of the Currency; Insured banks.
Net earnings of insured commercial banks.
mercial banks, net.
See Earnings of insured com
Net profits of insured commercial banks. See Earnings, expenses, and
dividends of insured commercial banks.
Net sound capital ratios of insured commercial banks.
New banks.
See Banking offices, establishment of.
Noninsured banks. See:
Absorptions, consolidations, and mergers;
Admissions to insurance;
Assets and liabilities of operating banks;
Banks closed because of financial difficulties;
Capital of banks;
Classification of banks and banking offices;
Class of bank, banking data presented by;
Deposits;
Number of banks operating branches;
Number of operating banking offices;
Number of operating banks;
Number of unit banks;
Number of branches.
See Capital of banks.
INDEX
267
Page
Number of banking offices in center:
Banking offices classified b y ..................................................... 38, 118-19, 196, 197
Definition...........................................................................................................
83
Number of banks operating branches:
Change during 1940.........................................................................................
37
December 31, 1935-40......................................................................................
93
December 31, 1940:
By class of bank............................................................................. 92-93, 96-103
By States and possessions......................................................................... 96-103
Of commercial banks..................................................................... 37, 93, 96-103
Of insured banks.................................................................................. 93, 96-103
Of mutual savings banks..................................................................... 93, 96-103
Of noninsured banks.............................................................................93, 96-103
June 29, 1940:
By amount of deposits...............................................................................
113
By character of branch system................................................................. 124-25
By class of bank....................................................................................... I l l , 113
By head offices only......................................................................... I l l , 117, 119
By number of offices in center..................................................................
119
By population of center...................................................................117, 119, 124
By States and possessions......................................................................... 124-25
Of commercial banks.......................................................I l l , 113, 117, 119, 124
Of insured banks.......................................................................................I l l , 113
Of mutual savings banks......................................................................... I l l , 113
Of noninsured banks.................................................................................I l l , 113
Number of branches:
Change during 1940......................................................................................... 37, 95
December 31, 1935-40......................................................................................
93
December 31, 1940:
By class of bank................................................................................... 93, 96-103
By States and possessions..........................................................................96-103
Of commercial banks.................................................................................. 96-103
Of insured banks......................................................................................... 96-103
Of mutual savings banks........................................................................... 96-103
Of noninsured banks...................................................................................96-103
Discussion o f .....................................................................................................
37
Establishment approved by Corporation.............................. ....................... 23, 241
June 29, 1940:
By amount of deposits............................................................................. I l l , 117
By class of bank..........................................................................................
Ill
By location in relation to head office....................................................... 124-25
By number of offices in center..................................................................
119
By population of center...................................................................117, 119, 124
By States and possessions......................................................................... 124-25
Number of operating banking offices:
All offices........................................................................................ 37, 92, 94, 96, 110
Changes during 1940......................................................................................... 37, 94
Classification..................................................................................................... 81-82
December 31, 1935-40...................................................................................... 92-93
December 31, 1940:
By class of bank..................................................... ........... 92-93, 94-95, 96-103
By States and possessions..........................................................................96-103
By type of office....................................................................... 37, 92-93, 96-103
Of commercial banks................................................... 37, 92-93, 94-95, 96-103
Of insured banks.................................................................92-93, 94-95, 96-103
Of mutual savings banks......................................................... 93, 94-95, 96-103
Of noninsured banks.......................................................... 92-93, 94-95, 96-103
June 29, 1940:
By amount of deposits............................................................................... 110-11
By class of bank......................................................................................... 110-11
By number of offices in center...................................................................118-19
By population of center............................................................... 116-17, 118-19
By type of office............................................................. 110-11, 116-17, 118-19
Of commercial banks..................................................... 110-11, 116-17, 118-19
Ofjnsured banks........................................................................................ 110-11
268
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Number of operating banking offices:— Continued.
June 29, 1940:— Continued.
Of mutual savings banks............................................................................110-11
Of noninsured banks................................................................................... 110-11
Percentage belonging to branch systems.................................................
38
Number of operating banks:
All banks:
Admissions to insurance............................................................................. 104-09
Approved for admission to insurance....................................................... 240-41
Call dates, 1935-40.....................................................................................
140
Changes during 1940................................................................................... 94-95
Classification............................................................................................... 81-82
December 31, 1935-40................................................................................. 92-93
December 31, 1940:
By class of bank........................................................................... 92-93, 96-103
By States and possessions....................................................................96-103
By type of bank....................................................................... 92-93, 96-103
June 29, 1940:
By amount of deposits........................................................... 110-11, 112-13
By class of bank....................................................... 110-11, 112-13, 114-15
By States and possessions....................................................................114-15
By type of bank.................................................................................... 112-13
Terminations of insurance......................................................................... 104-09
All commercial banks:
Admissions to insurance............................................................................. 104-09
Call dates, 1935-40.....................................................................................
141
Changes during 1940................................................................................... 94-95
Classification............................................................................................... 81-82
December 31, 1935-40................................................................................ 92-93
December 31, 1940:
By class of bank....................................................................... 92-93, 96-103
By States and possessions....................................................................96-103
By type of bank....................................................................... 92-93, 96-103
Discussion o f ................................................................................................
37
June 29, 1940:
By amount of deposits.............................. 110-11, 112-13, 116-17, 120-23
By class of bank....................................................... 110-11, 112-13, 114-15
By number of offices in center............................................................ 118-19
By population of center......................................................... 116-17, 118-19
By States and possessions..................................................... 114-15, 120-23
By type of bank.................................................................................... 112-13
Percentage belonging to branch systems.................................................
38
Insured commercial banks:
Applications approved and disapproved....................................240-41, 242-43
Call dates, 1934-40................................................................................... 142, 144
Changes during 1934-40............................................................................. 104-09
Changes during 1940................................................................................... 94-95
Classification................................................................................................ 81-82
December 31, 1935-40................................................................................ 92-93
December 31, 1940:
By class of bank............................................................... 92-93, 96-103, 194
By States and possessions....................................................................96-103
By type of bank........................................................................ 92-93, 96-103
Discussion o f ................ ............................................................................... 37-38
June 29, 1940:
By amount of deposits.............................................110-11, 112-13, 120-23
By class of bank....................................................... 110-11, 112-13, 114-15
By States and possessions..................................................... 114-15, 120-23
By type of bank.................................................................................... 112-13
Operating throughout the year 1940:
By amount of deposits..............................................196, 197, 199, 201, 202
By number of offices in center..........................................................196,197
By population of center............................................196, 197, 199, 201, 202
By rate of income on loans............................................................... 199, 200
By rate of interest paid on time and savings deposits.................. 202, 203
By rate of net earnings.....................................196, 198, 199, 201, 202, 203
INDEX
269
Page
Number of operating banks—Continued.
Insured commercial banks:— Continued.
Operating throughout the year 1940:— Continued.
By rate of net profits......................................................................... 197, 198
By ratio of loans to total assets............................................... 200, 201, 203
By ratio of time and savings to total deposits............................... 200, 203
Reports of examinations in 1940 tabulated:
By amount of deposits..................... 161, 163, 169, 171, 173, 175, 184, 185
By Federal Deposit Insurance Corporation District............164, 166, 176,
178, 180, 182
By fixed and substandard asset ratio............................. 160, 162, 168, 170,
172, 174, 184, 185
By month of examination.............................. .....................................
85
By net sound capital ratio.............. 160, 162, 168, 170, 172, 174, 184, 185
By rate of average net earnings___ 161, 163, 169, 171, 173, 175, 184, 185
By State.......................................................164-65, 166-67, 176-79, 180-83
Insured commercial banks examined by the Federal Deposit Insurance
Corporation, 1940, by amount of deposits..................................
189
Insured commercial banks not members of the Federal Reserve System:
Applications approved and disapproved................................... 240-41, 242-43
Call dates, 1934-40.....................................................................................
150
Changes during 1934-40............................................................................. 107-08
Changes during 1940................................................................................... 94-95
Classification...............................................................................................
84
December 31, 1935-40................................................................................. 92-93
December 31, 1940:
By States and possessions....................................................................96-103
By type of bank.................................................................................... 96-103
June 29, 1940:
By amount of deposits........................................................... 110-11, 112-13
By States and possessions....................................................................114-15
By type of bank.................................................................................... 112-13
Insured commercial banks submitting reports to the Corporation:
Classification................................................................................................
84
December 31, 1934-40..............................................................................204, 206
December 31, 1940, by amount of deposits..................................154, 156, 158
Operating throughout the year 1940:
By amount of deposits...............................................................208, 210, 212
By population of center.......................................................................
214
By rate of income on loans..................................................................
218
By rate of net earnings.........................................................................
216
Mutual savings banks. See Mutual savings banks.
Noninsured banks:
Call dates, 1935-40........................................................................... 141, 142, 143
Changes during 1940................................................................................... 94-95
Classification................................................................................................ 81-82
December 31, 1935-40................................................................................. 92-93
December 31, 1940:
By class of bank....................................................................................96-103
By States and possessions....................................................................96-103
By type of bank.................................................................................... 96-103
June 29, 1940:
By amount of deposits.............................. 110-11, 112-13, 120-23, 126-27
By class of bank..................................................................... 112-13, 114-15
By States and possessions..................................................... 120-23, 126-27
By type of bank.................................................................................... 112-13
Number of unit banks:
Change during 1940.........................................................................................
37
December 31, 1935-40...................................................................................... 92-93
December 31, 1940:
By class of bank............................................................................. 92-93, 96-103
By States and possessions......................................................................... 96-103
Of commercial banks........................................................................... 92, 96-103
Of insured banks.............................................................................92-93, 96-103
Of mutual savings banks..................................................................... 93, 96-103
Of noninsured banks...................................................................... 92-93, 96-103
270
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Number of unit banks:— Continued.
Definition...........................................................................................................
82
Discussion o f .....................................................................................................
37
June 29, 1940:
By amount of deposits............................. . ..................................... 110, 112, 116
By class of bank....................................................................................... 110, 112
By number of offices in center..................................................................
118
By population of center........................................................................... 116, 118
Of commercial banks............................................................... 110, 112, 116, 118
Of insured banks.......................................................................................110, 112
Of mutual savings banks......................................................................... 110, 112
Of noninsured banks................................................................................ 110,112
Officers, active, of insured banks.
of.
See Employees of insured banks, number
Officers and employees of the Federal Deposit Insurance Corporation..........
Operating banks.
27
See Number of operating banks.
Payments to depositors in closed insured banks.
banks placed in.
See Receivership, insured
Population of center, banks or banking offices classified by:
All commercial banks...................................................................38, 116-17, 118-19
Commercial banks operating branches...........................................................
124
Insured commercial banks operating throughout 1940. . .196, 197, 199, 201, 202
Insured commercial banks submitting reports to the Federal Deposit
Insurance Corporation................................................................... 214-15
Sources of data..................................................................................................
83
Possessions, banks located in:
Deposits o f.......................................................................................................132, 134
Number o f ...............................................................................................103, 114, 120
Postal savings deposits.
Preferred deposits.
Profits.
See Assets and liabilities of operating banks.
See Deposits, secured and preferred.
See Earnings, expenses, and dividends of insured banks.
Protection of depositors in banks in financial difficulties, 1934-40.
closed because of financial difficulties.
Public funds.
See Banks
See Assets and liabilities of operating banks.
Purchase of bank assets by Corporation.
Corporation.
See Bank assets purchased by the
Real estate (see also Fixed and miscellaneous assets):
Amount of loans on. See Assets and liabilities of operating banks.
Increase during 1940 in loans on....................................................................
40
Unsafe and unsound practices.................................................................. 21, 247-49
Receiverships avoided by Corporation...............................................................
12
Receivership, insured banks placed in (see also Banks closed because of
financial difficulties):
Activities of Corporation as receiver of.........................................................18, 235
Assets and liabilities of, at date of suspensions, 1934-40.......................... 236, 237
Classification...................................................................................................... 90-91
Date of suspension and year of organization................................................
235
Depositors:
Date of first payment t o ........................................................................... 16, 235
Extent of protection by insurance............................................................ 15, 16
Method of protection.................................................................................
15
Number eligible for protection, paid and unpaid...................................
239
271
INDEX
Page
Receivership, insured banks placed in (see also Banks closed because of
financial difficulties):— Continued.
Depositors:— Continued.
Payments to .......................................................................................... 15-17, 239
Procedure of payment................................................................................
16
Protection effective.....................................................................................
15
Deposits:
Insured, paid and unpaid by December 31, 1940..................................17, 239
Insured, secured, preferred, subject to offset......................................... 17, 238
Not eligible for insurance................................................................. 17, 238, 239
Paid and unpaid, December 31, 1940.......................................................
17
Percentage protected.................................................................................. 15-16
Secured, preferred, and subject to offset........................................17, 238, 239
Unclaimed accounts............................................................................... 14-15, 17
Uninsured, unsecured, not preferred, and not subject to offset..........17, 238
Liquidation o f ................................................................................................... 17-18
List of banks, 1940...........................................................................................
235
Losses by Corporation on depositors* claims paid....................................... 17-18
Names and location of, during 1940..............................................................
235
Number of banks...................................................................235, 236, 237, 238, 239
Purchase of assets from ...................................................................................18, 234
Receivers............................................................................................................
235
Repayments to Corporation on subrogated claims against........................ 17-18
Sources of data.................................................................................................. 90-91
Reconstruction Finance Corporation, capital of insured banks held by:
Amount. See Capital of banks.
Retirements.............................................................................23-24, 242-43, 244-45
Recoveries on assets (see also Charge-offs on bank assets)..................... 53-55, 71-72
Regulations.
See Federal Deposit Insurance Corporation; Board of
Governors of the Federal Reserve System.
Repayments to the Corporation........................................................................... 17-18
Reports from banks................................................................................................ 24-25
Salaries and wages of bank officers and employees.
and dividends of insured banks.
Savings and time deposits.
Deposits.
See Earnings, expenses,
See Assets and liabilities of operating banks;
Secured and preferred deposits.
placed in.
See Deposits; Receivership, insured banks
Securities (see also Assets and liabilities of operating banks; United States
Government obligations):
Examiners’ appraisal of, method used...........................................................
86
Held by Federal Deposit Insurance Corporation.................................... 28, 30, 32
Held by insured commercial banks:
Amounts, call dates, 1934-40............................................. 142, 144-45, 148-49
Change in amounts during 1940...............................................................
40
Change since 1919....................................................................................... 42-43
Analysis of examinations:
Appraised and book values, deductions (net), substandard, and
not criticized............................................................... 44, 168-69, 176-77
Ratios of appraised to book values............................... 44, 172-73, 180-81
Held by insured commercial banks not members of the Federal Reserve
System:
Analysis of examinations, 1940.................................................................
189
Call dates 1934-40.......................................................................................
150
Rate of income on, decline since 1934........................................................... 49-51
State banks members of the Federal Reserve System. See Class of bank,
banking data presented by; Insured banks.
State banks not members of the Federal Reserve System. See Class of bank,
banking data presented by; Insured banks; Noninsured banks.
272
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
State bank supervisory authorities:
Data obtained from............................................................................... 72, 81, 83, 84
State legislation regarding functions o f ......................................................... 25-26
State deposit guaranty systems..........................................................................9-10, 11
State legislation regarding deposit insurance and bank supervision.............. 25-27
States, banking data by:
Analysis of examinations of insured commercial banks
164-65, 166-67, 176-79, 180-83
Banks classified by:
All banking offices.......................................................................................96-103
All banks...................................................................................................... 114-15
All commercial banks................................................................... 120-23, 124-25
All mutual savings banks...........................................................................126-27
Deposits classified by:
All banks...................................................................................................... 132-33
All commercial banks................................................................................. 134-37
All mutual savings banks...........................................................................138-39
Suspensions, receiverships, and mergers.222-23,224-25,226-27,228,229,230-31
Stockholders' losses in closed banks, 1865-1940.
of financial difficulties.
See Banks closed because
Stockholders of banks:
Assessments paid by, in closed banks............................................................ 66-69
Double liability o f.............................................................................................
61
Losses of. See Banks closed because of financial difficulties.
Substandard assets. See:
Assets of insured banks, analysis of examinations of;
Fixed and miscellaneous assets;
Fixed and substandard asset ratios;
Loans of insured commercial banks;
Management of banks, quality of;
Securities.
Supervision.
Suspensions.
See Bank supervision.
See Banks closed because of financial difficulties; Receivership,
insured banks placed in.
Subrogated claims of depositors................................................................. 17, 18, 30, 32
Terminations of insurance:
Analysis of, 1934-40..........................................................................................104-09
For unsafe and unsound banking practices and violations of law or
regulations................................................................................. 19-20, 246
Number, 1940................................................................................................... 23, 246
Number since 1936.......... .................................................................................
38
Time and savings deposits.
See Deposits, time and savings.
Trust funds, insurance o f.......................................................................................
83
Trust departments:
Assets o f ............................................................................................................. 84-85
Examinations o f................................................................................................
22
Uninsured deposits.
Unit banks.
See Deposits, uninsured.
See Deposits; Number of unit banks.
United States Government obligations (see also Assets and liabilities of
operating banks):
Change during 1940 in amount held by banks............................................. 39-40
Held by all commercial banks, 1919-40......................................................... 42-43
Held by Federal Deposit Insurance Corporation..........................................30, 32
Held by insured commercial banks, 1934-40.................................................
39
INDEX
273
Page
Unsafe and unsound banking practices:
Action of Corporation................................................................................19-22, 246
Banks examined, 1934-40................................................................................
22
Development of rules to prevent....................................................................
11
Number of banks cited.............................................................................. 20-21, 246
Types of, for which banks were cited................................................21-22, 247-49
Unsecured deposits.
See Receivership, insured banks placed in.
Violations of law or regulations....................................................... 19-22, 246, 247-49
Weak or hazardous banks (see also Unsafe and unsound banking practices):
Continuing operation.......................................................................................
Eliminated during 1940...................................................................................
Policy of Corporation regarding..................................................................... 12,
Protection of depositors in.........................................................................
20
19
19
3
@FedFRASER