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ANNUAL REPORT
OF THE
FEDERAL DEPOSIT INSURANCE CORPORATION
FOR THE YEAR ENDED
DECEMBER 31, 1952
L E T T E R OF TRAN SM ITTAL.
F e d e r a l D e p o sit I n s u r a n c e C o r p o r atio n
Washington, D. C., August 17, 1958
SIRS: Pursuant to the provisions of section 17(a) of the Federal
Deposit Insurance Act, the Federal Deposit Insurance Corporation
has the honor to submit its annual report.
Respectfully,
H. E.
T h e P r e s id e n t
T h e Sp e a k e r
of t h e
of th e
Se n a t e
H o u se
of
R e p r e s e n t a t iv e s
C ook,
Chairman
FEDERAL DEPOSIT INSURANCE CORPORATION
FEDERAL DEPOSIT INSURANCE CORPORATION
N
a t io n a l
P r e s s B u i l d in g — W
a s h in g t o n
25, D. C.
BOARD OF DIRECTORS
Chairman...................................................................................... H. E. Cook
Comptroller of the Currency....................................................... Ray M. Gidney
Director......................................................................................... Maple T. H arl
OFFICIALS—AUGUST 17, 1953
Secretary....................................................................................... Miss E. F. Downey
General Counsel, Legal Division...............................................Royal
L.
Coburn
Chief, Division of Examination................................................Vance L. Sailor
Chief, Division of Liquidation.................................................. Edward C. Tefft
Chief, Division of Research and Statistics............................. Edison H. Cramer
Chief, Audit Division................................................................. Mark
A.
Heck
Controller...................................................................................... William G. Loeffler
Deputy Controller.................................................................... Jack Sronce
Fiscal Agent.............................................................................A. E. Anderson
Director of Personnel..............................................................Floyd E. Tift
Director of Services................................................................. Henry T. Ivey
Assistant to Board (Information and Publications)...............Forbes Campbell
V
DISTRICT OFFICES
D
is t .
No.
S u p e r v is i n g
E x a m in e r
A ddress
St a t e s
in
d is t r ic t
1. Lundie W. Barlow
Room 1365, No. 10 P.O.
Square, Boston 9, Mass.
Maine, New Hampshire,
Vermont, Massachusetts,
Rhode Island, Connecticut
2. Neil G. Greensides
Room 1900, 14 Wall Street,
New York 5, N. Y.
New York, New Jersey,
Delaware, Puerto Rico,
Virgin Islands
3. Gilbert E. Mounts
City National Bank
Ohio, Pennsylvania
Building, 20 East Broad
Street, Columbus 15, Ohio
4. Robert N. McLeod
200 The Bank of Virginia
Building, Fourth and
Grace Streets,
Richmond 19, Va.
District of Columbia, Mary
land, Virginia, West Vir
ginia, North Carolina,
South Carolina
5. John E. Freeman
Fifth floor, 114 Marietta
St., N. W ., Atlanta 3, Ga.
Georgia, Florida, Alabama,
Mississippi
6. Charles M. Dunn
1059 Arcade Building,
St. Louis 1, Mo.
Kentucky, Tennessee,
Missouri, Arkansas
7. Raby L. Hopkins
715 Tenney Building,
Madison 3, Wis.
Indiana, Michigan,
Wisconsin
8. Eugene R. Gover
164 W. Jackson Blvd.,
Chicago 4, 111.
Illinois, Iowa
9. Charles F. Alden
1200 Minnesota Building,
St. Paul 1, Minn.
Minnesota, North Dakota,
South Dakota, Montana
10. Hugh Williams
1201 Federal Reserve Bank
Building, Kansas City 6,
Missouri
Nebraska, Kansas,
Oklahoma, Colorado,
Wyoming
11. Lloyd Thomas
Federal Reserve Bank
Building, Station K,
Dallas 13, Tex.
Louisiana, Texas,
New Mexico, Arizona
12. William P. Funsten
Suite 1120, 315 Mont
gomery Street, San
Francisco 4, Calif.
Idaho, Utah, Nevada,
Washington, Oregon, Cali
fornia, Alaska, Hawaii
F E D E R A L DEPOSIT INSURANCE CORPORATION
Vll
DISTRICT 2 INCLUDES PUERTO RICO & VIRGIN ISLANDS
DISTRICT 4 INCLUDES DISTRICT OF COLUMBIA
DISTRICT 12 INCLUDES HAWAII & ALASKA
DISTRICTS
CONTENTS
....
Page
xvii
Deposit insurance coverage...........................................................................................
Action to protect depositors in failing banks............................................................
Supervisory activities.....................................................................................................
Legal developments.........................................................................................................
Personnel...........................................................................................................................
Financial statements of the Corporation....................................................................
3
7
12
16
17
19
Summary.........
PART ONE
OPERATIONS OF THE CORPORATION
PART TWO
BANKING DEVELOPMENTS
Assets and liabilities of all banks.................................................................................
Assets and liabilities of insured commercial banks..................................................
Income of insured commercial banks..........................................................................
Mutual savings banks.....................................................................................................
Income of insured mutual savings banks...................................................................
31
37
40
50
53
PART THREE
INSURANCE OF BANK OBLIGATIONS PRIOR TO
FEDERAL DEPOSIT INSURANCE
State systems of bank-obligation insurance...............................................................
Insurance of bank obligations in six States, 1829-1866...........................................
Guaranty of circulating banknotes by the Federal Government..........................
Insurance of bank deposits in eight States, 1907-1930............................................
59
60
65
66
PART FOUR
LEGISLATION AND REGULATIONS
Federal legislation............................................................................................................
Rules and regulations of the Corporation..................................................................
State banking legislation...............................................................................................
75
79
79
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
Number, offices, and deposits of operating banks....................................................
Assets and liabilities of operating banks....................................................................
Earnings, expenses, and dividends of insured banks................................................
Deposit insurance disbursements.................................................................................
ix
82
100
112
138
LIST OF CHARTS
Page
Organization chart of the Federal Deposit Insurance Corporation......................
iv
Federal Deposit Insurance Corporation districts (map).........................................
vii
A.
Ratios of deposit insurance fund to total and insured deposits, all insured
banks, December 31, 1934-1952......................................................................
5
B.
Sources and disposition of total income of the Federal Deposit Insurance
Corporation for the year ended December 31, 1952....................................
22
C.
Percentage distributions of total assets and of loans and discounts, all
banks, December 31, 1952.................................................................................
32
D.
Percentage distributions of total liabilities and capital accounts, of de
posits, and of capital accounts, all banks, December 31, 1952...............
33
36
E.
Percentage distribution of loans, all banks, December 31, 1946-1952........
F.
Sources and disposition of total income, insured commercial banks, 1952..
41
G.
Rate of income on loans, insured commercial banks, 1952............................
44
H.
Average salary of employees, insured commercial banks, 1952.....................
45
I.
Rates of net profit after taxes on total capital accounts, insured commercial
banks, 1952...........................................................................................................
48
J.
Rates of net profit and cash dividends, insured commercial banks, 1952..
49
K.
Percentages of total deposits and time deposits of all banks held by mutual
savings banks, December 31, 1952..................................................................
50
L.
Sources and disposition of total income, insured mutual savings banks, 1952
53
L IS T
OF
TABLES
PART ONE
OPERATIONS OF THE CORPORATION
Page
D
e p o s it
in su r a n c e
coverage:
1. Insured deposits and the deposit insurance fund, December 31,1934-1952..
2. Number and deposits of operating banks in the United States (continental
U. S. and other areas), December 31, 1952...................................................
3. States ranked according to percentage of banks of deposit which were in
sured and percentage of deposits which were in insured banks, December
31, 1952.................................................................................................................
A c t io n
to
protect
d e p o s it o r s
in
f a il in g
4
5
6
bank s:
4. Losses to depositors and to the Federal Deposit Insurance Corporation in
insured banks in financial difficulties, by years, 1934-1952........................
8
5. Number of depositors, amount of deposits, recoveries, and losses in insured
banks placed in receivership or absorbed with the financial aid of the
Corporation, 1934-1952......................................................................................
9
6. Analysis of disbursements and recoveries of the Federal Deposit Insurance
Corporation in transactions for protection of depositors and to facilitate
termination of liquidations, 1934-1952...........................................................
10
7. Estimated cumulative losses to the Corporation on principal disbursements
for protection of depositors, compared with disbursements, by year of
estimate, 1944-1952.............................................................................................
12
X
LIST OF TABLES
XI
Page
S u p e r v is o r y
a c t iv it ie s :
8. Actions to terminate insured status of banks charged with engaging in
unsafe or unsound practices or violations of law or regulations, 1936-1952
15
Personnel:
9. Number of officers and employees of the Federal Deposit Insurance
Corporation, December 31, 1952......................................................................
F in a n c ia l
statem en ts
of th e
18
c o r p o r a t io n :
10. Statement of condition of the Federal Deposit Insurance Corporation,
December 31, 1952..............................................................................................
11. Statement of operations of the Federal Deposit Insurance Corporation
for the year ended December 31, 1952...........................................................
12. Determination of net assessment income for the calendar year 1952 and
distribution of net assessment income, December 31, 1952.......................
13. Operating expenses of the Federal Deposit Insurance Corporation for the
year ended December 31, 1952........................................................................
14. Income and expenses of the Federal Deposit Insurance Corporation, by
years, from beginning of operations, September 11, 1933, to December
31, 1952, adjusted as of December 31, 1952..................................................
15. Assets and liabilities of the Federal Deposit Insurance Corporation,
December 31, 1934-1952....................................................................................
16. Financial statements of the Federal Deposit Insurance Corporation—
from auditor report for the year ended June 30, 1952.............................
20
21
22
23
24
25
27
PART TW O
BANKING DEVELOPMENTS
A ssets
and
l ia b il it ie s
of
all
banks:
17. Amounts and changes in assets and liabilities, all banks in the United
States (continental U. S. and other areas), 1952.........................................
31
18. Assets and liabilities, all banks in the United States (continental U. S. and
other areas), December 31, 1946-1952............................................................
34
19. Percentage changes in assets and liabilities, all banks in the United States
(continental U. S. and other areas), yearly and annual average, 1947-1952
35
20. Percentage distribution of assets and liabilities, all banks in the United
States (continental U. S. and other areas), December 31, 1946-1952..
35
A ssets
and
l ia b il it ie s
of
in s u r e d
c o m m e r c ia l
banks:
21. Assets and liabilities, insured commercial banks in the United States
(continental U. S. and other areas), December 31, 1946-1952..................
37
22. Amount and percentage distribution of United States Government obliga
tions held by insured commercial banks in the United States (continental
U. S. and other areas), December 31, 1952...................................................
38
23. Total assets, total loans, and other loans to individuals, insured com
mercial banks in the United States (continental U. S. and other areas),
December 31, 1946-1952....................................................................................
39
24. Percentages illustrating recent growth and present relative importance of
other loans to individuals, insured commercial banks in the United
States (continental U. S. and other areas)....................................................
39
Income
of in s u r e d
c o m m e r c ia l
banks:
25. Sources and disposition of total income, insured commercial banks in the
United States (continental U. S. and other areas), 1947-1952..................
42
26. Percentage distribution of sources and disposition of total income, insured
commercial banks in the United States (continental U. S. and other
areas), 1947-1952.................................................................................................
42
xii
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
I ncome
o f i n s u r e d c o m m e r c ia l b a n k s :—
Continued
27. Selected operating ratios, insured commercial banks in the United States
(continental U. S. and other areas), 1947-1952............................................
43
28. Number and percentage of insured commercial banks reporting reserves
for bad debts pursuant to section 23(K)1 of the Internal Revenue Code,
and amount of reserves so held, December 31, 1948-1952, with banks
operating throughout 1952 grouped by amount of deposits for December
31, 1952................................................ : .......................... ...................................
47
M
utual
s a v in g s
banks:
29. Assets and liabilities, mutual savings banks, December 31, 1946-1952. . . .
30. Number and deposits, insured and noninsured mutual savings banks, by
State, December 31, 1952..................................................................................
Income
of
in s u r e d
m utual
s a v in g s
51
52
banks:
31. Sources and disposition of total income, insured mutual savings banks,
1951-1952..............................................................................................................
54
PART THREE
INSURANCE OF BANK OBLIGATIONS PRIOR TO
FEDERAL DEPOSIT INSURANCE
I nsurance
of b a n k
o b l ig a t io n s
in
s ix
states,
1829-1866:
32. State insurance systems for the protection of bank creditors prior to 1933
33. Principal provisions of bank-obligation insurance plans adopted by six
States, 1829-1858.................................................................................................
34. Maximum number of banks participating in insurance systems, six States,
1829-1866..............................................................................................................
1907-1930:
35. Principal provisions of deposit insurance plans adopted by eight States,
1907-1917..............................................................................................................
36. Maximum number of banks participating in deposit insurance, eight
States, 1908-1930.................................................................................................
Insurance
of
bank
d e p o s it s
in
e ig h t
61
62
64
states,
68
70
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
N
um ber,
o f f ic e s , a n d
d e p o s it s
of
o p e r a t in g
banks:
Explanatory note.............................................................................................................
101. Changes in number and classification of operating banks and branches in
the United States (continental U. S. and other areas) during 1952. . . .
102. Number of operating banks and branches in the United States (continental
U. S. and other areas), December 31, 1952
Grouped according to insurance status and class of hanky and by State
and type of office.........................................................................................
103. Number of commercial banks operating branches and number of branches
in the United States (continental U. S. and other areas), June 30,1952
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.....................................
104. Number of operating banking offices of commercial banks in the United
States (continental U. S. and other areas), June 30, 1952
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...............................................................................................
105. Number and deposits of operating banks in the United States (continental
U. S. and other areas), December 31, 1952
Banks grouped according to insurance status and by district and State..
82
84
86
94
96
98
LIST OF TABLES
xiii
Page
A ssets
and liabilities op operating banks :
Explanatory note.............................................................................................................
100
106. Assets and liabilities of operating banks in the United States (continental
U. S. and other areas), June 30, 1952
Banks grouped according to insurance status and type of bank..............
102
107. Assets and liabilities of operating banks in the United States (continental
U. S. and other areas), December 31, 1952
Banks grouped according to insurance status and type of bank...........
104
108. Assets and liabilities of operating banks in the United States (continental
U. S. and other areas), December 31, 1952
Banks grouped by district and State............................................................
106
109. Assets and liabilities of operating insured banks in the United States
(continental U. S. and other areas), December 31, 1952, June 30, 1952,
and December 31, 1951....................................................................................
108
E arnings, expenses, and dividends of insured banks :
Explanatory note.............................................................................................................
113
110. Earnings, expenses, and dividends of insured commercial banks in the
United States (continental U. S. and other areas), 1944-1952..........
114
111. Ratios of earnings, expenses, and dividends of insured commercial banks
in the United States (continental U. S. and other areas), 1944-1952..
116
112. Earnings, expenses, and dividends of insured commercial banks in the
United States (continental U. S. and other areas), 1952
By class of bank.............................................................................................
118
113. Ratios of earnings, expenses, and dividends of insured commercial banks
in the United States (continental U. S. and other areas), 1952
By class of bank.............................................................................................
120
114. Earnings, expenses, and dividends of insured commercial banks operating
throughout 1952 in the United States (continental U. S. and other areas)
Banks grouped according to amount of deposits........................................
122
115. Ratios of earnings, expenses, and dividends of insured commercial banks
operating throughout 1952 in the United States (continental U. S. and
other areas)
Banks grouped according to amount of deposits........................................
124
116. Earnings, expenses, and dividends of insured commercial banks in the
United States (continental U. S. and other areas), by State, 1 9 5 2 ....
126
117. Income, expenses, and dividends of insured mutual savings banks, 1952..
136
118. Ratios of income, expenses, and dividends of insured mutual savings
banks, 1952.........................................................................................................
137
D eposit
insurance disbursements:
Explanatory note.............................................................................................................
139
119. Disbursements, deposits, and depositors in insured banks financially aided
by the Federal Deposit Insurance Corporation, 1934-1952
Banks grouped by class of bank, year of aid} amount of deposits, and
State..............................................................................................................
140
120. Assets and liabilities of insured banks placed in receivership and of in
sured banks absorbed with the financial aid of the Federal Deposit
Insurance Corporation, 1934-1952
As shown by books of bank at date of closing.............................................
142
121. Name, location, Federal Deposit Insurance Corporation disbursement,
and assets and liabilities of insured banks absorbed with the financial
aid of the Corporation during 1952...............................................................
143
122. Recoveries and losses by the Federal Deposit Insurance Corporation in
connection with insured banks financially aided by the Corporation,
1934-1952
As shown by books of FDIC, December 31, 1952.....................................
144
SUMMARY
Sum m ary
At the close of 1952 the deposit insurance fund of the Federal Deposit
Insurance Corporation was equal to 0.72 percent of the $188 billion of
total deposits in insured banks. Of those deposits, $102 billion, or 54
percent, were insured. A total of 13,645 banks were insured at the end
of the year, representing, both in number and in amount of deposits,
over nine-tenths of the nation’s banks. (Pp. 3-5).
In 1952 the Corporation disbursed $1.3 million to make possible the
assumption, by other insured banks, of the deposit liabilities of three
banks in financial difficulties. Since the beginning of deposit insurance
the Corporation has made principal disbursements of $276 million for
protection of depositors of 420 banks, and has recovered all but 10 percent
of such disbursements. Inclusion of related disbursements and recoveries
further reduces the loss ratio. (Pp. 7-12).
Assets of the Corporation at the close of 1952 were $1,444 million.
Liabilities were $81 million, leaving $1,363 million in the deposit in
surance fund. Income of the Corporation was $162 million during the
year. Approximately one-half of this income was added to the deposit
insurance fund, and most of the remainder was returned to insured banks
in the form of net assessment income credits. (Pp. 19-23).
Total assets of all banks in the United States grew five percent during
1952, reaching $215 billion at the end of the year. Total deposits and
total capital accounts also grew five percent during the year. This growth
continued the trend of recent years. A shift in composition of bank assets
toward a larger proportion of loans and a smaller proportion of United
States Government obligations also continued. (Pp. 31-35).
Over one-half of the total income of insured commercial banks in
1952 was derived from loans, and approximately one-fourth from United
States Government obligations. Profits of banks increased over their
1951 level, due to larger holdings of earning assets and to higher average
rates of income on most types of assets. (Pp. 40-47).
Between 1829 and 1930, fourteen States adopted insurance plans in
order to prevent severe fluctuations of the circulating medium and to
protect individual bank creditors against loss. Some of the basic principles
of Federal deposit insurance were developed in these State systems.
(Pp. 59-72).
xvii
PART ONE
OPERATIONS OF THE CORPORATION
D e p o s it I n s u r a n c e
C overage
Insured deposits and the deposit insurance fund. Under the
provisions of the Federal Deposit Insurance Act of 1950, protection was
increased to a maximum of $10,000 for each depositor in an insured bank.
If a depositor holds more than one account in the same right and ca
pacity in an insured bank, the maximum applies to the total of all such
accounts. For example, an individual who holds both a demand deposit
and a savings deposit at an insured bank has no greater insurance pro
tection than if the total amount of the two were held in a single account.
On the other hand, if an individual holds an account in his own name
and also holds a joint account with his wife at the same insured bank,
these accounts are not held in the same right and capacity and each is
therefore protected up to the legal maximum. When a depositor is also
a debtor of the bank, the amount remaining in his deposit account after
deduction of his indebtedness is insured up to $10,000.
Because of these legal provisions concerning accounts held in a given
right and capacity, the combining of accounts, and offsetting of in
debtedness, the calculation of the amount of insured deposits in a bank
at any given time is not a simple task. Therefore, the Corporation does
not require such calculations to be made and reported by insured banks.
From time to time a special call for deposit information is made by the
Corporation. On these occasions the banks report the number of their
deposit accounts in various size groupings. The last such call was made
in 1951, and is described in Part Three of the Annual Report of the
Corporation for that year. From information obtained by these special
calls, and from semi-annual reports showing total deposits in insured
banks, estimates are made of the amount of insured deposits. Table 1
shows for the end of each year since the beginning of Federal deposit
insurance the total amount of deposits in insured banks and the estimated
amount of these deposits which was insured under the prevailing pro
visions of law.
At the end of 1952 insured deposits were estimated at $102,255 million,
constituting 54.3 percent of the total deposits in insured banks. This
percentage has changed slightly since maximum protection per depositor
was increased from $5,000 to $10,000 by the Act of 1950.
The deposit insurance fund of the Corporation increased further in
1952, and amounted to $1,363 million at the end of the year. At that
date it constituted 0.72 percent of total deposits in insured banks and
1.33 percent of insured deposits. In 1934 these ratios were 0.73 and
3
4
FEDERAL DEPOSIT INSURANCE CORPORATION
1.61 percent, respectively. The size of the deposit insurance fund and
its relationship to total and insured deposits as of December 31 of each
year from 1934 through 1952 are shown in Table 1. Chart A illustrates
the ratios of the fund to total and insured deposits.
T a b le 1 .
I n s u r e d D e p o s it s a n d t h e D e p o s it I n s u r a n c e F u n d ,
D e c e m b e r 31, 1934-1952
Deposits in
insured banks
(in millions)
Dec. 31
Total
Percent
of
deposits
insured
Insured1
1952........................................
1951........................................
1950........................................
1949........................................
1948........................................
$188,142
178,540
167,818
156,786
153,454
$102,255
96,713
91,359
76,589
75,320
1947........................................
1946........................................
1945........................................
1944:........................................
1943........................................
154,096
148,458
158,174
134,662
111,650
76,254
73,759
67,021
56,398
48,440
49.5
49.7
42.4
41.9
43.4
1942........................................
1941.........................................
1940........................................
1939........................................
1938........................................
89,869
71,209
65,288
57,485
50,791
32,837
28,249
26,638
24,650
23,121
1937........................................
1936........................................
1935........................................
1934.........................................
48,2281
50,281?
45,1251
40,060.
22,557
22,330
20,158
18,075
54.3%
54.2
54.4
48.8
49.1
Deposit
insurance
fund
(in
millions)
Ratio of deposit
insurance fund to—
Total
deposits
Insured
deposits
.72%
.72
.74
.77
.69
1.33%
1.33
1.36
1.57
1.42
1,006.1
1,058.5
929.2
804.3
703.1
.65
.71
.59
.60
.63
1.32
1.44
1.39
1.43
1.45
36.5
39.7
40.8
42.9
45.5
616.9
553.5
496.0
452.7
420.5
.69
.78
.76
.79
.83
1.88
1.96
1.86
1.84
1.82
46.8
44.4
44.7
45.1
383.1
343.4
306.0
291.7
.79
.68
.68
.73
1.70
1.54
1.52
1.61
$1,363.5
1,282.2
1,243.9
1,203.9
1,065.9
1 Estimates for dates prior to the change in coverage in 1950 are based on $5,000 maximum for each
account; those for subsequent dates on $10,000 maximum. Estimated by applying to the deposits in
the various types of account (demand deposits of individuals, partnerships, and corporations; savings
and time deposits of individuals, partnerships, and corporations; government deposits; interbank de
posits; and other deposits) at the regular call dates the percentages insured as shown by the reports for
the nearest special call date.
Participation in deposit insurance. On December 31, 1952, there
were 13,645 insured banks. Including 5,663 branches, these banks did
business in 19,308 locations, 329 more than at the beginning of the year.
The number of insured banks at the close of the year was 12 fewer
than a year before. This small decline resulted from the fact that the
number of insured banks which went out of existence by absorption or
voluntary liquidation was larger than the number of banks admitted to
insurance. A decrease also occurred in the number of noninsured banks.
The proportion of banks of deposit which are insured was 93.6 percent
at the end of 1951 and 93.8 percent at the end of 1952.
Of the 13,645 banks insured at the close of 1952, 206 were mutual
savings banks, and 13,439 were commercial banks. However, the latter
classification includes a few stock savings banks, industrial banks, and
other banks specializing in certain types of deposits or assets.
5
DEPOSIT INSURANCE COVERAGE
C h a r t A.
R atios of D eposit I n su r a n c e F u n d to T o tal an d I n su r e d D e p o s it s ,
A l l I n su r e d B a n k s , D ec e m b e r 31, 1934-1952
P ERCEN T
2 .0 --------
P ERCENT
--------2-0
■mil
RATIO OF DEPOSIT INSURANCE FUND TO INSURED DEPOSITS |
RATIO OF DEPOSIT INSURANCE FUND TO TOTAL DEPOSITS (
1934 1935 1936 1937 1938 1939 1940 1941- 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952
Insured commercial banks constituted 96 percent of all operating
commercial banks, and held 99 percent of deposits in commercial banks.
Although only 39 percent of the mutual savings banks were insured, they
held 74 percent of deposits in such institutions. Table 2 gives the number
and deposits of all banks grouped by type of bank and insurance status.
T a b le 2 .
N u m b er a n d D eposits o f O p e r at in g B a n k s in th e U n it e d S ta te s
(C o n t in e n t a l U . S. an d O th e r A r e a s ), D ec e m b e r 31, 1952
Percentage of total
Number or deposits
Item
Insured
banks
Total
Num ber of banks— to ta l..................
Banks of deposit.................................
Commercial......................................
Mutual savings................................
Trust companies not regularly en
gaged in deposit banking.............
14,617
14,552
14.,028
529
Deposits (in m illions)— to ta l.........
Banks of deposit................................
Commercial......................................
Mutual savings................................
Trust companies not regularly en
gaged in deposit banking1............
$196,431
196,357
178,786
22,621
13.645
13.645
18,^39
206
972
907
58b828
$188,142
188,142
171,857
16,785
$8,289
8,215
2,879
5,886
Insured
banks
Noninsured
banks
93.4%
93.8
95.8
88.9
6 .6 %
6.2
U.2
61.1
100.0
65
65
74
Noninsured
banks
95.8
95.8
98.6
7Jf..2
74
4.2
4.2
1.U
25.8
100.0
i Deposits of these companies consist of uninvested trust funds and special accounts.
Detailed data: See Table 105, pp. 98-99.
Participation by State. In Table 3 the 48 States and District of
Columbia are ranked as of December 31,1952, according to the percentage
6
FEDERAL DEPOSIT INSURANCE CORPORATION
of total banks of deposit in the State which were insured, and according
to the percentage of total deposits in the State which were in insured
banks. These compilations exclude trust companies not regularly engaged
in deposit banking. Ten States and the District of Columbia shared top
ranking in each regard, with 100 percent insurance of banks of deposit.
The proportion of deposits which were in noninsured banks was greater
than 2 percent in only eleven States. It was greater than 10 percent in
seven States, due primarily to noninsured mutual savings banks in
New England.
Table 3.
w h ic h
S t a t e s R a n k e d A c c o r d in g t o P e r c e n t a g e o f B a n k s o f D
w e r e I n s u r e d a n d P e r c e n t a g e o f D e p o s it s w h i c h w e r e
I n s u r e d B a n k s , D e c e m b e r 31, 1952
Number of insured banks as percentage of
total banks of deposit
State
Arizona.....................................................
District of Columbia.............................
Montana...................................................
Nevada.....................................................
New Mexico........ ...................................
South Dakota..........................................
Utah...........................................................
Vermont..................................................
Virginia.....................................................
Wyoming..................................................
New Jersey...............................................
North Carolina........................................
Louisiana..................................................
New York.................................................
Illinois.......................................................
Florida.......................................................
California.................................................
Ohio...........................................................
Wisconsin.................................................
Tennessee.................................................
Oregon.......................................................
Pennsylvania...........................................
Mississippi...............................................
Oklahoma.................................................
Indiana.....................................................
Minnesota................................................
Arkansas...................................................
West Virginia..........................................
Maryland.................................................
Washington..............................................
Idaho.........................................................
Michigan..................................................
Missouri....................................................
Kentucky.................................................
Texas.........................................................
North Dakota.........................................
Delaware..................................................
Colorado...................................................
Iowa........ ..................................................
South Carolina......................................
Nebraska..................................................
Georgia. ...................................................
Kansas......................................................
Rhode Island...........................................
Maine........................................................
Connecticut.............................................
New Hampshire......................................
Massachusetts.........................................
1 99,953 percent before rounding.
Percent
e p o s it
in
Deposits in insured banks as
percentage of total deposits
State
Percent
93.9
United States average.......................
96.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
99.7
99.6
99.4
99.2
99.1
99.1
99.0
98.9
98.9
98.6
98.5
98.5
98.5
98.2
98.1
98.1
97.8
97.8
97.6
97.5
97.5
97.4
97.0
95.8
95.4
95.4
94.6
92.5
91.7
89.9
89.8
84.6
77.8
75.0
65.6
54.1
53.2
47.0
Alabama...............................................
Arizona............. ....................................
District of Columbia.........................
Montana....................... .......................
Nevada............... .................................
New Mexico........................................
South Dakota......................................
Utah......................................................
Vermont...............................................
Virginia.................................................
Wyoming..............................................
Louisiana1.............................................
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
99.9
99.9
99.8
99.8
99.8
99.7
99.7
99.7
99.7
99.7
99.7
99.6
99.5
99.5
99.2
99.1
99.1
99.0
99.0
99.0
98.9
98.9
98.8
98.7
98.2
98.0
97.3
96.4
95.3
91.5
86.8
83.3
81.0
66.6
67.0
54.8
40.3
New Jersey..........................................
Oklahoma.............................................
Illinois...................................................
Wisconsin.............................................
Tennessee.............................................
Missouri................................................
Florida..................................................
Arkansas...............................................
California.............................................
Minnesota............................................
Colorado...............................................
Oregon...................................................
Pennsylvania.......................................
Georgia.................................................
Washington..........................................
Indiana.................................................
Mississippi...........................................
Kentucky.............................................
New York.............................................
South Carolina....................................
North Carolina...................................
West Virginia......................................
Idaho.....................................................
Michigan...............................................
Nebraska..............................................
Iowa.......................................................
Maryland.............................................
Delaware...............................................
Rhode Island.......................................
North Dakota.....................................
Maine....................................................
Connecticut.........................................
Massachusetts.....................................
New Hampshire..................................
DEPOSIT INSURANCE COVERAGE
7
For detailed statistics as to number and offices of operating banks
see Tables 101-104 of this report, pages 84-97. Deposits of insured and
noninsured banks by States are shown in Table 105, pp. 98-99.
A c t io n
to
P r o tec t D e po sito r s
in
F a il in g B a n k s
Disbursements for protection of depositors in 1952. During 1952
the Federal Deposit Insurance Corporation provided financial aid to
protect depositors of three insured banks which were in financial difficulty.
In each of the cases the deposit liabilities of the failing bank were assumed
by another insured bank. The Corporation took over those assets of the
failing banks which were unacceptable to the assuming banks and
advanced to each of the failing banks cash equal to the difference between
its deposit liabilities and its acceptable assets.
The three distressed banks to which the Corporation made disburse
ments in 1952 had deposits totaling $3.2 million, and the cash provided
by the Corporation amounted to SI.3 million as of December 31, 1952.
There were approximately 6,750 deposit accounts in the three banks. No
depositor suffered any loss, nor was there any break in the continuity
of banking service for the communities.
Defalcations greatly in excess of their surety bonds were the direct
cause of the difficulties of all three banks. In two of the banks most of
the shortage was represented by custom er overdrafts concealed by
officers of the banks through manipulation of the records.
Disbursements for protection of depositors, 1934-1952. From
the beginning of deposit insurance to the end of 1952 the Corporation
made disbursements to protect depositors in 420 banks. These banks
had about 1.4 million deposit accounts and deposits of almost $541
million. For the protection of the depositors in these banks the Cor
poration disbursed $276 million, exclusive of payoff and liquidation
expenses and advances for the protection of assets.
Of the 420 cases in which the Corporation made disbursements, 245
banks were placed in receivership and 175 were absorbed by other
insured banks. No insured bank has been placed in receivership since
May 1944, and all receiverships were terminated prior to 1952. Of the
175 absorption cases, 168 have been terminated. Three cases were termi
nated and three new cases added during 1952.
Recoveries and losses of depositors. The depositors of the 420
banks received $539 million, or 99.6 percent of their total deposits. In
the 245 receivership cases deposits totaled $110 million, of which $108
million, or more than 98 percent, was paid. All of the $431 million of
deposits involved in the 175 absorption cases was made available to
depositors.
8
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 4 shows for each year the number of depositors and their losses,
and the disbursements of the Corporation and its losses. Further details
regarding the payment of deposits in closed insured banks are given in
Table 5.
T a b le 4 .
L o s s e s t o D e p o s it o r s a n d 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 io n i n I n s u r e d B a n k s i n F i n a n c i a l D if f i c u l t i e s ,
b y Y e a r s , 1934-1952
Year
Num
ber
of
banks
Number
of
depositors1
Amounts
of
deposits
(in thousands)
to
depositors8
(in thousands)
to the
Corporation3
(in thousands)
Disbursements
by the
Corporation4
(in thousands)
$1,952
$27,632
$276,044
1934-1952..
420
1,366,515
$540,653
1952.........
1951.........
1950.........
1949.........
1948.........
3
2
4
4
3
6,743
5,276
6,365
5,671
18,540
3,157
3,408
5,501
5,475
10,657
1947.........
1946.........
1945.........
1944.........
1943.........
5
10,637
1,383
12,483
5,487
27,371
7,040
347
5,695
1,915
12,525
1
1
2
5
1942.........
1941.........
1940.........
1939.........
1938.........
20
15
43
60
74
60,687
73,005
256,361
392,718
203,961
19,185
29,717
142,430
157,772
59,684
1937.........
1936.........
1935.........
1934.........
75
69
25
9
130,387
89,018
44,655
15,767
33,349
27,508
13,320
1,968
7605
1275
1,4205
378
644
114®
1,339
1,885
3,986
2,551
2,990
3
24
40
124
1,724
265
1,768
1,503
7,172
8
49
686
613
4,177
7,216
2,432
10,825
23,880
74,134
67,771
30,479
147
183
437
22
3,553
2,411
2,730
207
19,160
14,781
8,890
941
40
37
1,002
1 Number of depositors in receivership cases; number of deposit accounts in absorption cases.
2 Includes losses due to failure of depositors to claim insured deposits.
3 Sum of losses in the cases in which the disbursement by the Corporation was not repaid in full,
including estimated loss in 7 cases not fully liquidated at the end of 1952. Excludes interest collected
in cases in which the disbursement by the Corporation was fully recovered, gains or losses on assets
purchased by the Corporation from liquidations, and nonrecoverable expenses incurred in paying de
positors’ claims.
4 Principal disbursements only. Does not include expenses and advances for protection of assets.
Also excludes excess collections paid to absorbed banks as an additional purchase price; for this reason
the figures differ from those published in previous Annual Reports of the Corporation.
£i Estimated.
Detailed data: See Tables 119-122, pp. 140-144.
Recoveries and losses of the Corporation, 1934-1952. The total
disbursements of the Corporation in connection with failing insured
banks have been somewhat larger than the principal disbursements
mentioned above and shown in Table 4. The principal disbursements
are those incurred for the direct purpose of meeting the claims of de
positors in the failing banks: payment of insured deposits in receivership
cases, and loans to or purchases of assets of banks in absorption cases.
Other disbursements which are involved in the transactions for protection
of depositors are nonrecoverable payoff expenses in the receivership
cases, and liquidation expenses and advances for protection of assets
in the absorption cases. In addition to the direct transactions for pro
tection of depositors, the Corporation has in some cases purchased the
residual assets of receiverships or of absorbed banks.
9
ACTION TO PROTECT DEPOSITORS IN FAILING BANKS
Table 5.
L o sses
N
in
o f D e p o s it o r s , A m o u n t o f D e p o s it s , R e c o v e r i e s , a n d
I n s u r e d B a n k s P la c e d in R e c e iv e r s h ip o r A b so r b e d w it h
t h e F i n a n c i a l A id o f t h e C o r p o r a t io n , 1934-1952
umber
Item
Banks placed
in
receivership
Total
Banks absorbed
with financial
aid of the
Corporation
Number of banks.................................................................
420
245
175
Number of depositors or accounts............................
1,366,515
382,722
983.793
1,361,000
377,207
983.793
2,111
2,111
Fully protected1................................................................
Not fully protected (deposits exceeded insurance
maximum) ..................................................................
Not fully protected (deposits restricted or deferred
prior to 1934 or otherwise ineligible for insurance
protection)......................................... ...........................
3,404
3,404
A m ount of deposits (in thousands).........................
$540,653
$109,590
Deposits paid....................................................................
Deposits unpaid...............................................................
538,701
1,952
107,6382
1,9523
$431,063
431,063
1 Includes 55,262 depositors who failed to claim their insured deposits.
2 Includes payments by Federal Deposit Insurance Corporation and by the receivers. For detail
see Table 5, p. 12, of the Annual Report of the Corporation for 1951.
3 Includes $175,386 of insured deposits which depositors failed to claim.
Detailed data: See Tables 119-122, pp. 140-144.
The recoveries of the Corporation in transactions for protection of
depositors have consisted largely of recoveries on principal disbursements,
but have included also recoveries of liquidation expenses and advances
in the absorption cases. The Corporation has also received interest or
an allowable return on its disbursements in some of the cases. Receipts
in transactions to facilitate termination of liquidations may also be
divided among those made on principal and those of other kinds. If, for
any category of transactions, principal recoveries are subtracted from
principal disbursements, the loss on principal is obtained. However, it
is the difference between total disbursements and total recoveries and
income for a given category of transactions which represents the net
loss of funds from such transactions. The net loss of funds may be either
greater or less than the loss on principal. The net loss of funds in trans
actions for the protection of depositors has exceeded the loss on principal
disbursements in receivership cases and has been less than the loss on
principal in the absorption cases. In the transactions to facilitate termi
nation of liquidations, recoveries and income, including the estimated
recoverable value of assets not yet disposed of, exceed disbursements.
Consequently there is expected to be a net gain, rather than a net loss
of funds, on these transactions.
Deposit insurance disbursements through the close of 1952 and
recoveries and income of the Corporation are presented in Table 6,
classified according to the kind of transaction and nature of disbursement
with which they were associated. As shown there, the Corporation has
recovered over $247 million of its $276 million of principal disbursements.
10
FEDERAL DEPOSIT INSURANCE CORPORATION
for the protection of depositors in failing insured banks. Based upon
the current appraised value of the remaining unliquidated assets acquired
from those banks, an additional recovery of $1 million can be expected,
leaving an estimated loss on principal of a little less than $28 million,
or 10 percent. However, other disbursements which were not recovered
were less than $1 million, and the Corporation collected nearly $9 million
in interest or allowable return on its disbursements. The net loss of funds
in transactions for the protection of depositors was thus $20 million, or
7 percent of principal disbursements of $276 million for this purpose.
T a b le 6 .
A n a l y s i s o f D i s b u r s e m e n t s a n d R e c o v e r i e s o f t h e F e d e r a l D e p o s it
I n s u r a n c e C o r p o r a t io n i n T r a n s a c t i o n s f o r P r o t e c t io n o f D e p o s it o r s
a n d t o F a c il i t a t e T e r m i n a t i o n o f L i q u id a t i o n s , 1934-1952
(In thousands)
Transactions for the protection of depositors
Item
Total
(420 banks)
Receivership
cases
(245 banks)
Absorption
cases
(175 banks)
Disbursem ents.......................................
$322,148
$87,827
276,044
87,044
Principal.................................................
Payoff expenses (nonrecoverable).. .
783
783
13.266
Liquidation expenses...........................
Advances for asset protection...........
32.055
Recoveries and in com e.......................
Principal recovery to Dec. 31, 1952.
Estimated additional recovery of
principal1............................................
Liquidation expenses...........................
Advances................................................
Interest and allowable return (profit
and income in termination trans
actions) ...............................................
$302,448
247,392
8.715
3472
Net loss of funds...................................
On principal...........................................
Payoff expenses (nonrecoverable). . .
Less: interest and income..................
$ 19,700
27,632
783
8.715
$14,614
14,178
783
3472
$73,213
72,866
$234,321
189,000
Transactions
to facilitate
termination of
liquidations
$2,993
2,716
13.266
32.055
277
$229,235
174,526
$3,789
1,691
1,020
13.266
32.055
1,005
1,020
13.266
32.055
8,3683
$
5,086
13,454
8,3683
277
8164
$ -796®
20
816*
1 Book value of remaining unliquidated assets less reserve for losses. The total amount for both
types of transactions, $2,025,139, is designated in Table 10 as “ Assets acquired through bank sus
pensions and absorptions” .
2 Interest on subrogated claims in 58 of the receivership cases in which receivers paid 100 percent
dividends on creditors’ claims.
3 Interest on loans and allowable return on purchase price in 91 absorption cases in which collections
exceeded the Corporation's disbursements and recoverable expenses. In 65 of these cases full interest
or allowable return was collected and excess collections of $1,519,000 returned to the banks.
4 Profit plus net income (income on assets less liquidation expenses).
6 Excess of receipts.
In the 245 banks which were placed in receivership the Federal Deposit
Insurance Corporation paid out $87 million to depositors. These depositors
assigned their claims against the receiverships to the Corporation to the
extent of its payment. Dividends received by the Corporation on these
subrogated claims amounted to $73 million, resulting in a loss on principal
of $14 million, or 16 percent of the amount disbursed. Nonrecoverable
payoff expenses of nearly $1 million were only partially offset by interest
received, so that the net loss of funds exceeded the loss on principal
by $0.4 million.
ACTION TO PROTECT DEPOSITORS IN FAILING BANKS
11
In the 175 absorption cases to the close of 1952 the Corporation
disbursed $189 million for the protection of depositors by means of
loans to or the purchase of assets from distressed banks. Recoveries of
$175 million on this principal disbursement had been realized by the
end of 1952, and additional recoveries of $1 million were expected in the
seven active liquidations. There was therefore an estimated loss on
principal disbursements in absorption cases of $13 million, or 7 percent
of the amount disbursed. In these cases the Corporation recovered in
full its $32 million of advances for the protection of assets and its $13
million of liquidation expenses, and also received interest or allowable
return of $8 million. The net loss of funds in absorption cases was there
fore smaller by $8 million than the loss on principal.
In 93 of the absorption cases principal disbursements of the Corporation
were recovered in full and in 91 of these some interest or allowable return
was collected. In 65 of these cases collections from assets liquidated
exceeded the Corporation’s principal disbursement plus interest or
allowable return and the excess was returned to representatives of the
shareholders of the absorbed banks. These excess collections, which
amounted to $1.5 million, are not included in the Corporation’s disburse
ments nor in its recoveries and income shown in Table 6.
The net loss of funds relative to the amount of the principal disburse
ments for protecting depositors has differed markedly between re
ceivership and absorption cases. In the 245 receivership cases the net
loss of funds was $15 million, representing 17 percent of principal
disbursements for the protection of depositors of $87 million. In the
175 absorption cases the net loss of funds, as estimated at the end of
the year, was $5 million, or only 3 percent of the $189 million of principal
disbursements for the protection of depositors. Total deposits in the
receivership cases were $110 million, and in the absorption cases $431
million. Net losses of funds therefore averaged 13 percent of total deposits
in the banks involved in receivership cases and 1 percent in absorption
cases. The much higher loss ratio in receivership cases is primarily a
reflection of the fact that banks with very poor asset conditions have
been placed in receivership, whereas failing banks with less serious asset
deterioration have been merged with other banks.
Table 7 gives the losses of the Corporation on principal disbursements
for protection of depositors as estimated at the close of each of the past
nine years.
Losses and recoveries by the Reconstruction Finance Cor
poration. Losses by the Federal Deposit Insurance Corporation in
some cases were less than those which would normally occur with banks
having a similar degree of asset deterioration, due to prior investment
of public funds in these banks through the Reconstruction Finance
12
FEDERAL DEPOSIT INSURANCE CORPORATION
Corporation. The Reconstruction Finance Corporation held preferred
stock, debentures, or capital notes in 263 of the 420 banks in which the
Federal Deposit Corporation made disbursements to protect depositors.
The retirable value of these holdings totaled $44.5 million, excluding
accrued dividends or interest.
Table 7.
D
E s t im a t e d
C u m u l a t i v e L o s s e s t o t h e C o r p o r a t io n o n P r i n c i p a l
f o r P r o t e c t io n o f D e p o s it o r s , C o m p a r e d w i t h
D i s b u r s e m e n t s , b y Y e a r o f E s t i m a t e , 1944-1952
is b u r s e m e n t s
Period
Number
of
banks
Disbursements
to end of
period1
(in thousands)
Losses as
estimated at
end of period2
(in thousands)
1934-1952.......................................
1934-1951.......................................
1934-1950.......................................
1934-1949.......................................
1934-1948.......................................
420
417
415
411
407
$276,044
274,705
272,820
268,834
266,283
$27,632
27,024
26,930
25,490
24,930
1934-1947.......................................
1934-1946.......................................
1934-1945.......................................
1934-1944.......................................
404
399
398
397
263,293
261,569
261,304
259,536
26,014
28,896
31,111
38,810
Estimated
losses as
percent of
disbursements
10.0%
9.8
9.9
9.5
9.4
9.9
11.0
11.9
15.0
1 Principal disbursements. Figures revised from similar tables previously published to eliminate
excess collections paid to banks as additional purchase price in 65 absorption cases. See note 4 to Table 4.
2 Losses on principal disbursements. See note 3 to Table 4.
In connection with the mergers of 15 of the banks in which it held
preferred stock, the Reconstruction Finance Corporation furnished the
new capital in the continuing banks. To its previous investment in these
15 banks, amounting to almost $28 million, was added the new capital,
giving the Reconstruction Finance Corporation preferred stock in the
continuing banks with a total retirable value at the dates of merger of
over $52 million. This amount is gradually being reduced as the banks
retire the stock.
In banks aided by the Federal Deposit Insurance Corporation other
than the 15 discussed above, the Reconstruction Finance Corporation’s
investment was $16 million, of which it recovered $2 million.
S u p e r v is o r y A c t iv it ie s
Bank examinations. Since the establishment of the Corporation,
it has been the policy to examine at least once annually each insured
State bank which is not a member of the Federal Reserve System. In
addition to the regular examination program, the Corporation also
conducts special examinations of those insured State nonmember banks
in which problems are believed to exist.
The Corporation during 1952 conducted 6,836 regular examinations,
thus completing its regular examination program. In addition, it made
82 reexaminations, and 50 entrance examinations of operating noninsured
SUPERVISORY ACTIVITIES
13
banks. New bank investigations totaling 102 and new branch investiga
tions totaling 108 were also made during the year. In addition to the
above figures, examinations of 1,359 branches of insured nonmember
State banks and 978 trust departments were conducted.
The Corporation’s information with regard to national banks is
obtained mainly by its review of reports of examination made by the
Office of the Comptroller of the Currency. Similarly, information re
lating to State banks which are members of the Federal Reserve System
is obtained by a review of reports of examination made by the twelve
Federal Reserve banks. In 1952 the Corporation reviewed and analyzed,
with special attention to their bearing upon deposit insurance, 4,613
reports of examination made by the Office of the Comptroller of the
Currency and 1,588 reports of examination made by the Federal Reserve
banks.
Citations for unsafe and unsound banking practices. The
primary purposes of bank examinations are to ascertain if banks are
conducting their business in a safe and sound manner, to appraise their
assets, and to determine whether violations of law or regulations have
occurred. Such examinations, when necessary, are followed by conferences
with directors and officers of banks and usually result in correction of
any objectionable practices.
Section 8(a) of the Federal Deposit Insurance Act provides that
whenever the Board of Directors finds that a bank has continued to
engage in unsafe or unsound practices or violations of law or regulations,
the Board is required to give to the appropriate supervisory authority
a statement with respect to such practices for the purpose of obtaining
the necessary corrections. In securing such corrections the Corporation
cooperates with the supervisory authority.
A bank which has been formally charged with unsafe or unsound
practices and which nevertheless persists in these practices may be
deprived by the Corporation of its insured status. Such charges are
initiated by the Corporation only after careful deliberation and after
every effort to obtain the observance of sound and lawful procedures
through the cooperation of the bank involved. On the other hand, the
Corporation is determined to fulfill its obligation of taking action against
any insured bank which persistently violates law, regulations, or the
tenets of sound banking, and thereby endangers the deposit insurance
fund and undermines the confidence of depositors in the integrity of our
banking system.
During 1952 proceedings were initiated under Section 8(a) of the
Federal Deposit Insurance Act against two banks. The alleged unsound
practices and violations of law in the two cases differed in detail but were
14
FEDERAL DEPOSIT INSURANCE CORPORATION
fundamentally the same. Each of the two banks was cited for weak and
hazardous management, for negligent supervision by the bank’s board
of directors, and for lax lending and collection policies, attested by such
evidence as inadequate credit information, large volumes of overdue
or inadequately secured loans, and undue amounts of assets adversely
classified by examiners. The capital accounts of both of these banks
were regarded as inadequate. In one case the common stock was being
impaired by asset losses, and in the other case the capital funds were
not only reduced by asset losses but were also being dissipated by un
warranted dividends. Each bank was also charged with violating banking
laws and regulations and with failure to comply with corrective recom
mendations made by its supervisory authority.
Further action in the cases of the two banks against which proceedings
were initiated in 1952 was being deferred at the end of the year pending
reexamination of these banks. Of two other banks whose cases were
pending at the beginning of 1952, one case was closed during the year
when satisfactory corrections were made. The other remained in deferred
status on December 31, 1952, pending analysis of its reexamination.
There were thus three cases pending at the end of the year. In two of
these cases some improvement was known to have been made since the
proceedings were instituted. In the third case the time allowed for
making corrections extended into December, 1952, and in view of changes
made in the management of the bank additional time was being allowed
before reexamination.
Since 1935, when the Corporation was given authority to terminate
the insurance of banks which continue to engage in unsafe or unsound
practices or violations of law or regulations, a total of 147 banks have
been charged with such practices or violations. The disposition of these
cases is given in Table 8.
Approval of banks for insurance. During 1952 the Corporation
approved the applications of 69 banks for admission to insurance. This
included approvals of 25 such applications from operating banks not
insured at the beginning of the year, although one of these approvals
was subsequently rescinded. It also included approval of 43 applications
for insurance by new banks, and 1 application by a financial institution
becoming a bank of deposit. Four applications from new banks were
disapproved by the Board of Directors because, in its judgment, the
conditions prescribed by the Federal Deposit Insurance Act were not
fulfilled.
The number of banks approved for insurance in a year differs from
the number actually admitted to insurance during that year. Some new
banks approved for insurance are not opened, or the effective date of
15
SUPERVISORY ACTIVITIES
insurance is delayed for other reasons, until the subsequent year. In a
few cases banks alter their plans or do not meet conditions specified by
the Corporation. Banks which are chartered as national banks, and State
banks which are admitted to the Federal Reserve System, become insured
without application to the Corporation. For changes in the number of
insured banks during 1952 see Table 101, page 84.
T a b le 8 .
A c t io n s t o T e r m i n a t e I n s u r e d S t a t u s o f B a n k s C h a r g e d
w i t h E n g a g in g i n U n s a f e o r U n s o u n d P r a c t ic e s o r V io l a t i o n s
o f L a w o r R e g u l a t i o n s , 1936-1952
Disposition or status
Total banks against which action was taken........................................................................
Cases closed:
Corrections made...............................................................................................................................
Banks absorbed or succeeded by other banks...........................................................................
With financial aid of the Corporation........................................................................................
Without financial aid of the Corporation...................................................................................
Banks suspended prior to setting of date of termination of insured status by Corporation
Insured status terminated, or date for such termination set by Corporation, for failure
to make corrections..................................................................................................................
Banks suspended prior to or on date of termination of insured status................................
Banks continued in operation2.....................................................................................................
1936-19521
147
36
66
61
5
32
10
7
S
Cases not closed December 31, 1952: Action deferred pending reexamination or analysis
of reexamination...........................................................................................................................
1 No action to terminate the insured status of any bank was taken before 1936. In 5 cases where
initial action was replaced by action based upon additional charges, only the latter action is included.
2 One of these suspended 4 months after its insured status was terminated.
Back data: See the Annual Report of the Corporation for 1951, p. 17, and earlier reports.
Approval of establishment of branches. During 1952 the Cor
poration approved the establishment of 111 branches by insured banks
not members of the Federal Reserve System. Of these approvals, 99 were
for the establishment of new banking offices, 10 were for banks to be
absorbed and converted into branches, and 2 were for branches to be
established at former locations of head offices after the relocation of
such offices. The Corporation also approved continuation of operations
of seven branches previously operated by absorbed banks or by banks
admitted to insurance, or sold by one bank to another. Four applications
for establishment of branches were disapproved by the Board of Directors
during 1952; subsequently two of the banks met conditions warranting
approval, and are included in the totals above.
The number of branches established by insured banks during a year
differs from the number approved by the Corporation. Approval by
the Corporation is not required for the establishment of branches by
national banks or by State banks which are members of the Federal
Reserve System. Some branches approved are opened in a subsequent
year, and in a few cases the banks change their plans or fail to meet
conditions specified. For changes in the number of branches of insured
banks during 1952 see Table 101, page 85.
16
FEDERAL DEPOSIT INSURANCE CORPORATION
Approval of other applications from insured banks. The Corporation also approved during 1952 the applications for continuation
of deposit insurance made by eleven State banks withdrawing from the
Federal Reserve System and two State banks succeeding national banks.
Approvals were also granted upon eight applications of insured banks
for permission to exercise trust powers, three to engage in commercial
banking, eight to assume deposit liabilities of another insured bank (one
of which was rescinded later in the year when the bank abandoned its
plan), and three to assume deposit liabilities of a noninsured bank. Two
applications to exercise trust powers were disapproved by the Board
of Directors during the year.
Seventy-one applications by insured banks to change their locations,
and 21 for relocation of branches, were approved during the year.
Reports from banks. Insured State banks not members of the
Federal Reserve System, other than those in the District of Columbia,
were required by the Corporation to report their assets, liabilities, and
capital accounts as of June 30 and December 31, 1952. Summaries of
corresponding data for other insured banks were furnished to the Cor
poration by the agencies to which those banks made reports. Through
the cooperation of State banking authorities and of officials of banking
institutions not under State or Federal supervision, mostly unincorporated
banks, the Corporation obtained, as of June 30 and December 31, reports
of assets and liabilities of noninsured banks and trust companies which
do not file reports with a Federal agency. The insured banks also sub
mitted to the respective Federal agencies statements of their earnings,
expenses, and disposition of profits for the calendar year 1952.
The data on assets, liabilities, and capital, and those on earnings and
expenses, are discussed in Part Two of this report. Detailed tabulations
from the reports of assets, liabilities, and capital accounts, for insured
and noninsured banks in the United States (continental U. S. and other
areas) and for insured banks in each State, are given in the Corporation’s
publication, “ Assets, Liabilities, and Capital Accounts, Capital and
other Ratios, Commercial and Mutual Savings Banks” , Reports No. 37
and 38. Summary tabulations are given in Tables 105-109 of this report,
pages 98-111. Summaries of the reports of earnings, expenses, and dis
position of profits are given in Tables 112-118, pages 118-137 of this
report.
L eg a l D e v e l o p m e n t s
Federal legislation. A number of Federal laws were enacted during
the year which concern Federal deposit insurance or relate closely to
the work of the Corporation or the operations of insured banks. The
nature of these laws is indicated below, and full texts are given in Part
Four of this report, pages 75-78.
LEGAL DEVELOPMENTS
17
The Federal Deposit Insurance Act was amended by Public Law 533,
82nd Congress, approved July 14, 1952, to require the insurance of
deposits payable at Puerto Rico branches of insured mainland banks.
Prior to this change an insured bank having its principal place of business
in any of the States or in the District of Columbia which maintained a
branch in Puerto Rico could elect to exclude from insurance its deposit
obligations payable only at such branch.1
The National Bank Conversion Act was modified by Public Law 515,
82nd Congress, approved July 12, 1952, so as to eliminate features which
made it difficult in some States for conversion from national into State
banks.
Congress enacted a National Bank Merger Act, Public Law 530, 82nd
Congress, approved July 14, 1952, which permits the merger of national
banks, or of State banks with national banks under the charter of the
latter, without a right of dissenting shareholders of the absorbing bank
to demand cash payment for their shares. Dissenting shareholders of
the absorbed bank would be entitled to demand cash payment for their
shares.
Changes were made in the capital requirements for membership of a
State bank in the Federal Reserve System and for establishment of
branches by State member banks and national banks by Public Law 543,
82nd Congress, approved July 15, 1952. This law also requires the
consent of the Board of Governors of the Federal Reserve System to
the reduction of capital stock of a State member bank and to the estab
lishment of in-town branches of State member banks.
Rules and regulations. Section 329.3(c) of the rules and regulations
of the Corporation was amended, effective July 1, 1952, to increase]the
grace "periods in computing interest on savings deposits. The text of.the
amendment is given on page 79.
State legislation. A summary of State banking legislation enacted
during 1952 is given in Part Four of this report, pages 79-80.
P ersonnel
Directors and employees. Throughout 1952 the Board of Directors
of the Corporation consisted of Mr. Maple T. Harl, Chairman; Mr. H.
E. Cook, Director; and Mr. Preston Delano, Comptroller of the Currency,
Director ex officio of the Federal Deposit Insurance Corporation. Early
in 1953 Mr. Delano offered his resignation as Comptroller of the Cur
rency, effective February 15. In accordance with the provisions of the
Federal Deposit Insurance Act the Acting Comptroller of the Currency,
1 Such exclusion continues to be permitted, under the Federal Deposit Insurance Act, in the case
of branches in the Virgin Islands or in a Territory of the United States. Obligations payable only at
an office in a foreign country, or in a possession of the United States not regarded as a Territory, are
excluded from insurance.
18
FEDERAL DEPOSIT INSURANCE CORPORATION
Mr. L. A. Jennings, served as a Director of the Corporation until Mr. Ray
M. Gidney, formerly President of the Federal Reserve Bank of Cleveland,
became Comptroller of the Currency on April 16, 1953. On May 10,
1953, Mr. H. E. Cook, a member of the Board of Directors since April
1947, became Chairman of the Board of Directors, succeeding Mr. Maple
T. Harl, who continues as a member of the Board.
At the end of 1952 the Corporation had 1,028 officials and employees,
less than half of the peak number in 1941. Table 9 gives the number of
employees in the various divisions of the Corporation at the end of 1952.
The Division of Examination had at that time 72 percent of the total
employees.
T a b le 9 .
N u m b er of O fficers an d E m plo yees of th e F e d e r a l D e posit
I n su r a n c e C orpo r atio n , D e c e m b e r 31, 1952
Division
Washington
office
Total
T o ta l...................................................................................................
1,028
317
Directors.........................................................................................
Executive Division......................................................................
Legal Division..............................................................................
Division of Examination............................................................
Division of Liquidation..............................................................
Division of Research and Statistics.........................................
Division of Finance and Accounts...........................................
Audit Division..............................................................................
Personnel Division.......................................................................
Service Division............................................................................
3
23
17
736
32
47
42
45
18
65
3
23
17
42
15
47
42
45
18
65
District
and
field
offices
711
694
17
Educational program for examiners. The Division of Examination
is continuing the educational program for its members which it began
in 1946. This program consists primarily of correspondence courses given
by the American Institute of Banking, but also includes evening courses
offered by colleges or universities, and local chapters of the Institute,
together with special graduate courses at three universities. Total en
rollment in all educational projects numbered 394 at the end of the year,
the largest active participation since the program began.
The special graduate courses are made available to a limited number
of examiners each year through enrollment in The Graduate School of
Banking at Rutgers University sponsored by the American Bankers
Association, the School of Banking at the University of Wisconsin
sponsored by the Central States Conference of Bankers Associations,
and the School of Consumer Banking conducted by the Consumer
Bankers Association at the University of Virginia. These courses combine
both resident and correspondence study. Two years of intensive study
are required for completion, including three annual resident sessions,
each of two weeks’ duration. To be selected to attend these schools,
examiners must qualify by completion of other educational work.
19
PERSONNEL
In the seven years during which the program has been in operation
examiners of the Corporation have completed more than 1,200 educational
courses. Of the examiners taking American Institute of Banking courses,
92 have qualified for the Pre-Standard Certificate, 49 for the Standard
Certificate, and 9 for the Graduate Certificate awarded by the Institute.
At the close of 1952, 52 examiners of the Corporation held diplomas
from the graduate banking schools, and 43 were enrolled in those schools.
A number of others received college degrees from study completed in
part under the evening resident program, bringing to 265 the total
number of college degrees held by Corporation examiners.
The cost of courses taken with the American Institute of Banking
and the special graduate courses is paid by the Corporation, although
examiners who attend the graduate summer schools must forego ten
days of their annual leave each year.
The Corporation’s educational program has also included substantial
contributions to banker education through lectures by members of its
staff at the schools of banking and by participation in seminars conducted
by various bankers associations.
F in a n c ia l S t a t e m e n t s
of t h e
C o r po r atio n
Assets and liabilities. A statement of assets and liabilities of the
Corporation at the close of 1952 is given in Table 10. Among total assets
of $1,444 million, United States Government obligations and accrued
interest thereon constituted $1,441 million, or 99.8 percent. Against the
$1,444 million of assets were liabilities of only $81 million, leaving $1,363
million in the deposit insurance fund.
Assets of the Corporation at the end of 1952 also included $2 million
of assets remaining from those acquired through bank suspensions and
absorptions since the beginning of deposit insurance. This figure includes
$1 million of estimated future collections from transactions to protect
depositors, and $1 million of net book value of unliquidated assets from
transactions to facilitate termination of liquidation proceedings, as
shown in Table 6, page 10.
Income and expenses. The growth during 1952 in the deposit
insurance fund is further analyzed in the statement of financial opera
tions of the Corporation for 1952 in Table 11. Income for the year was
$162 million and expenses or other deductions were $81 million. The
remaining $81 million was added to the deposit insurance fund. Ap
proximately four-fifths of the total income of the Corporation was
derived from assessments paid by insured banks. Over half of such
assessments was credited to the banks at the end of the year for ap
plication against assessments becoming due during 1953.
20
FEDERAL DEPOSIT INSURANCE CORPORATION
TABLE 10.
FEDERAL
STATEMENT OF CONDITION OF THE
d e p o s it in su r a n c e c o r p o r a t io n
DECEMBER 31, 1952
ASSETS
C A S H ......................................................... $
386,236.12
U. S. GOVERNMENT OBLIGATIONS AND ACCRUED
INTEREST RECEIVABLE ................................. 1,441,391,949.18
ASSETS ACQUIRED THROUGH BANK SUSPENSIONS
AND ABSORPTIONS....................................
FURNITURE, FIXTURES AND EQUIPMENT................
MISCELLANEOUS ACCOUNTS RECEIVABLE AND OTHER
ASSETS— LESS RESERVE FOR L O S S .................
2,025,138.96
1.00
218,468.17
TOTAL ASSETS.................................... $1,444,021,793.43
L IA B IL ITIE S
ASSESSMENT CREDITS DUE INSURED B A N K S ......... $
ACCOUNTS PAYABLE......................................
ACCRUED ANNUAL LEAVE OF EMPLOYEES.............
EARNEST MONEY DEPOSITS AND COLLECTIONS IN
SUSPENSE ...............................................
RESERVE FOR PENDING DEPOSIT INSURANCE CLAIMS
DEFERRED CREDITS.........................................
TOTAL LIABILITIES................................. $
79,079,749.221
426,721.70
922,907.15
69,127.51
24,763.88
6,579.23
80,529,848.69
SU RPLU S2
DEPOSIT INSURANCE FUND (See Table 11)...........
1,363,491,944.74
TOTAL LIABILITIES AND SURPLUS.............. $1,444,021,793.43
1 Consists of Net Assessment Income credit for 1952 in the amount of $73,713,345.91;
adjustments to Net Assessment Income credits for 1950 and 1951 amounting to $13,370.46
(see Table 13); and $5,353,032.85, representing unused Net Assessment Income credits for
prior years and other assessment adjustments.
* Capital stock issued to the United States in the amount of $150,000,000.00 and to the
Federal Reserve Banks in the amount of $139,299,556.99, has been retired by payments to
the United States Treasury in accordance with the provisions of Public Laws 363 and 813.
These laws were recommended by the Board of Directors of the Federal Deposit Insurance
Corporation and approved August 5, 1947, and June 29, 1948, respectively.
FINANCIAL STATEMENTS OF THE CORPORATION
TABLE 11.
FEDERAL
21
STATEMENT OF OPERATIONS OF THE
d e p o s it in su r a n c e c o r p o r a t io n
FOR THE YEAR ENDED DECEMBER 31, 1952
SU RPLU S ADJUSTM ENTS
DEPOSIT INSURANCE FUND, DECEMBER 31, 1 9 51___$1,282,187,948.38
ADJUSTMENTS APPLICABLE TO PERIODS PRIOR TO
JANUARY 1, 1952 (Net Increase) .....................
654,879.75
DEPOSIT INSURANCE FUND, DECEMBER 31, 1951, AS
ADJUSTED ................................................. $1,282,842,828.13
INCOME
DEPOSIT INSURANCE ASSESSMENTS $130,494,676.51
INTEREST EARNED ON U. S. GOVERN
MENT OBLIGATIONS................
31,324,465.48
3,251.63
OTHER INTEREST RECEIVED...........
OTHER INCOME ........................
179,168.89
TOTAL IN C O M E ................$162,001,562.51
,
EXPENSES, LOSSES AND O T H E R DEDUCTIONS
NET ASSESSMENT INCOME CREDITS
FOR 1952 (See Table 1 2 )..........$ 73,713,345.91
OPERATING EXPENSES (See Table 13)
7,007,530.62
PROVISIONS FOR INSURANCE LOSSES
631,569.37
TOTAL DEDUCTIONS..........$ 81,352,445.90
NET INCOME FROM OPERATIONS.........................
80,649,116.61
DEPOSIT INSURANCE FUND, DECEMBER 31, 1952 ___ $1,363,491,944.74
22
FEDERAL DEPOSIT INSURANCE CORPORATION
Chart B.
S ources
and
D
i s p o s it io n o f
I n s u r a n c e C o r p o r a t io n
T
for th e
otal
Y
ear
I ncome
of th e
E nded D
F ederal D
ecem ber
e p o s it
31, 1952
Operating expenses of the Corporation in 1952 were $7 million, or
4.3 percent of its total income. Chart B illustrates the comparative
importance of the various sources and uses of the Corporation’s income
for 1952.
Y
Table 12. D e t e r m i n a t i o n
1952 a n d D i s t r i b u t io n
ear
of
of
N
et
N
et
A ssessm ent Incom e
for t h e
A ssessm ent I n co m e, D
C alendar
ecem ber
31, 1952
Determ ination of net assessment incom e for 1952:
Total assessments which became due during the calendar
year.......................................................................................
Less:
Operating costs and expenses for the calendar year (see
Table 14)................................................................................
Net additions to reserves to provide for insurance losses.
$130,494,676.51
$ 7,007,530.62
631,569.37
Total deductions...............
7,639,099.99
Net assessment income for 1952.
$122,855,576.52
Distribution of
31, 1952:
net
assessment income,
December
Net assessment income for 1952:
$ 49,142,230.61
73,713,345.91
40 percent transferred to Corporation's capital account..
Balance credited pro rata to insured banks........................
Total.................................................................................
$122,855,576.52
Pro rata share of net assessment income credited to in
sured banks, December 31, 1952:
Credit for 1952.............................
Adjustment of 1950-51 credits.
$73,713,345.91
13,370.46
Total..................................
$73,726,716.37
Percent of total
assessment be
coming due in 1952
56.49
.01
56.50
23
FINANCIAL STATEMENTS OF THE CORPORATION
The computation of net assessment income for 1952, the portion
retained by the Corporation, and the portion credited to insured banks,
are shown in Table 12. The procedure shown in that table is in accordance
with the provisions for computing net assessment income credits as set
forth in the Federal Deposit Insurance Act of 1950. These credits are
similar in nature to dividends applicable to subsequent premiums of
private insurance companies.
Table 13 gives a classification of the operating expenses of the Cor
poration for 1952. Seventy-one percent of the total operating expenses
were wages, salaries, and other payments for personal services. Most
of the remainder was travel expenses, incurred chiefly by employees
of the Division of Examination.
T a b le 1 3.
O p e r a t in g E x p e n s e s
C o r p o r a t io n
for
th e
Y
of the
ear
F ederal D
E nded D
e p o s it
ecem ber
I nsurance
31, 1952
Personal services.....................................................................................................................
Travel........................................................................................................................................
Transportation of things.......................................................................................................
Communication services.......................................................................................................
Rents and utilities..................................................................................................................
Printing and reproduction....................................................................................................
Supplies and material............................................................................................................
Otner contractual services..................................................... ..............................................
Equipment...............................................................................................................................
$4,982,022.41
1,260,034.29
12,068.22
46,394.38
377,921.02
130,221.13
46,354.36
139,346.36
50,348.07
T otal........................................................................................................................
$7,044,710.24
Less:
Processing costs of Duplicating Section charged to other divisions and activities
Recoverable expenses and other credits........................................................................
Total credits.........................................................................................................
Net operating expenses.....................................................................................................
$
32,320.21
4,859.41
$
37,179.62
$7,007,530.62
A historical summary of the income and expenses of the Corporation
and of additions to the deposit insurance fund is given in Table 14. For
the past three years the net income of the Corporation from assessments
and the growth in the deposit insurance fund has been smaller than in
the immediately preceding years because of the credits to insured banks
provided for in the Federal Deposit Insurance Act of 1950.
A condensed statement of assets and liabilities of the Corporation at
the end of each year since commencement of operations is given in
Table 15. There has been a growth in total assets and in the deposit
insurance fund in each year of the Corporation’s existence except in
1947, when the original capital subscription of the Corporation was
repaid to the United States Treasury. The increase in liabilities during
recent years is due chiefly to the fact that the net assessment income
credits to insured banks, provided for in the Federal Deposit Insurance
Act of 1950, are recorded as of the end of a year but are not available
for use by the banks in paying assessments until the following July.
24
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 1 4.
I ncome
and
C o r p o r a t io n ,
by
Se p t e m b e r
E xpenses
Y
of the
e a r s , from
11, 1933,
A dju sted
as
of
to
D
F ederal D
B e g in n i n g
D
of
e p o s it
I nsurance
O p e r a t io n s ,
31, 1952,
31, 1952
ecem ber
ecem ber
(In millions)
Expenses
Income
Year
Total
Deposit Investment
and
insurance
other
income
Deposit
insurance
Total
and
expenses1
Interest
on
capital
stock
Operating
expenses2
Net
income
added to
deposit
insurance
fund
$84.0
$1,363.5
7.0
6.8
6.4
6.1
6.1
80.7
76.4
77.1
144.3
139.4
5.5
4.5
3.9
3.8
4.3
147.3
120.5
111.4
89.8
76.4
F *
1933-1952.
$1,556.0
1 9 5 2 ....
1 9 5 1 ....
1 9 5 0 ....
1 9 4 9 ....
1 9 4 8 ....
88.3
83.6
84.7
150.7
146.8
1 9 4 7 ....
1 9 4 6 ....
1 9 4 5 ....
1 9 4 4 ....
1 9 4 3 ....
157.7
130.9
$80.6
$364.5
$192.5
$27.9
7.6
7.2
7.6
6.4
7.4
.6
.4
119.3
31.5
29.6
30.6
28.5
27.5
43.3
23.8
27.5
18.6
16.7
10.4
10.4
9.8
9.7
10.3
.1
99.5
86.7
114.4
107.1
93.7
80.9
70.0
.1
.2
4.8
5.8
5.8
5.8
5.8
1 9 4 2 ....
1 9 4 1 ....
1 9 4 0 ....
1 9 3 9 ....
1 9 3 8 ....
69.4
62.0
55.9
51.2
47.8
56.5
51.4
46.2
40.7
38.3
12.9
10.6
9.7
10.5
9.5
10.2
.5
.6
4.2
7.4
2.4
5.8
5.8
5.8
5.8
5.8
3.9
3.7
3.6
3.4
3.0
59.2
51.9
42.3
34.6
36.6
1 9 3 7 ....
1 9 3 6 ....
1 9 3 5 ....
1933-34.
48.1
43.8
20.7
7.0
38.8
35.6
11.5
3.5
2.5
2.7
5.8
5.8
5.8
5.6
2.7
2.5
2.7
4.16
36.1
33.0
9.5
-3.0®
121.2
$1,191.5
56.83
54.03
54.13
122.2
(4)
8.2
9.2
7.0
10.1
13.6
16.6
11.2
12.0
10.8
11.2
10.0
1.2
.3
.7
.1
.1
1 Includes nonrecoverable expenses incurred pursuant to the insurance of deposits in closed insured banks.
* Includes furniture, fixtures, and equipment charged off.
» Net after deducting portion of net assessment income credited to insured banks, pursuant to provisions
of the Federal Deposit Insurance Act.
4
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, and were applied toward payment of sub
sequent assessments becoming due under the permanent insurance fund, resulting in no income to the Corporation
from assessments during the existence of the temporary insurance funds.
8 Net after deducting the portion of expenses and losses charged to banks withdrawing from the temporary
insurance funds on June 30, 1934.
• Deduction.
25
FINANCIAL STATEMENTS OF THE CORPORATION
T a b le 15.
A ssets
and
L ia b il it ie s
C o r p o r a t io n , D
of
F ederal D
the
ecem ber
e p o s it
I n surance
31, 1934-1952
(In millions)
Dec. 31
Cash
U . S.
Government
obligations
Insurance
assets1
Other
assets
Total
assets
Liabilities
Deposit
insurance
fund2
.4
.7
2.4
1.4
2.3
$1,441.4
1,356.3
1,309.5
1,207.3
1,066.0
$ 2.0
3.0
2.3
2.8
3.6
$.2
.3
.1
.2
.1
$1,444.0
1,360.3
1,314.3
1,211.7
1,072.0
$80.5
78.1
70.4
7.8
6.1
$1,363.5
1,282.2
1,243.9
1,203.9
1,065.9
1947........
1946
1945
1944
1943........
4.6
7.3
15.7
17.8
20.0
1,022.5
1,047.7
900.0
762.0
638.8
3.6
5.6
15.1
26.1
46.2
.1
.1
.3
.3
.5
1,030.8
1,060.7
931.1
806.2
705.5
24.7
2.2
1.9
1.9
2.4
1,006.1
1,058.5
929.2
804.3
703.1
1942
1941 ,, .
1940
1939
1938........
19.4
20.0
20.4
28.3
22.2
536.8
453.9
384.5
363.5
372.8
62.0
81.7
92.2
64.2
26.5
.5
.1
.1
.1
.1
618.7
555.7
497.2
456.1
421.6
1.8
2.2
1.2
3.4
1.1
616.9
553.5
496.0
452.7
420.5
1937
1936
1935
1934
20.6
9.1
33.5
16.0
348.5
332.6
298.2
316.7
16.1
11.4
5.4
.5
.1
.1
.1
.1
385.3
353.2
337.2
333.3
2.2
9.8
31.2
41.6
383.1
343.4
306.0
291.7
1952
1951
1950
1949
1948........
,
$
1 Assets acquired in protecting depositors and in facilitating termination of liquidations.
2 Designated capital and surplus in Annual Reports of the Corporation prior to 1950.
Audit. In accordance with the provisions of the Federal Deposit
Insurance Act the audit of the Corporation for the year ended June 30,
1952, was made by the Comptroller General of the United States. The
short form of the audit report, as furnished to the Corporation by the
Comptroller General, is given on pages 26-28, with the financial state
ments in Table 16.
26
FEDERAL DEPOSIT INSURANCE CORPORATION
C om ptroller G e n e r a l
W
of
U n it e d St a t e s
the
a s h in g t o n
25
December 12, 1952
Board of Directors,
Federal Deposit Insurance Corporation,
Washington 25, D. C.
Gentlemen:
An audit of the affairs of Federal Deposit Insurance Corporation for the fiscal
year ended June 30, 1952, has been made by the General Accounting Office in ac
cordance with section 17(b) of the Federal Deposit Insurance Act, approved September
21, 1950 (12 U. S. C. 1827).
There is transmitted herewith a short form report including statements of financial
position and operations, together with explanatory notes and auditor opinion, all
of which will be included in the detailed report to be submitted by the Comptroller
General to the Congress.
Very truly yours,
C. W a r r e n
Comptroller General
of the United States
L in d s a y
A u d i t o r s ’ O p in i o n
We have examined the balance sheet of Federal Deposit Insurance Corporation
as of June 30, 1952, and the related statement of income and deposit insurance fund
for the year then ended. Our examination was made in accordance with generally
accepted auditing standards, and accordingly included such tests of the accounting
records and such other auditing procedures as we considered necessary in the cir
cumstances and appropriate in view of the effectiveness of the system of internal
control, including the work performed by the Corporation’s internal auditors.
In our opinion, the accompanying balance sheet and statement of income and
deposit insurance fund present fairly the financial position of Federal Deposit In
surance Corporation at June 30, 1952, and the results of its operations for the year
then ended, in conformity with generally accepted accounting principles applied on
a basis consistent with that of the preceding year and with applicable Federal laws.
During our examination we observed no program, expenditure, or other financial
transaction or undertaking which, in our opinion, was carried on or made without
authority of law.
S t e p h e n B. I v e s
Associate Director of Audits
27
FINANCIAL STATEMENTS OF THE CORPORATION
Table 16.
F in a n c ia l St a t e m e n t s
C o r p o r a t io n —
from
of
A u d it o r s ’ R e p o r t
Exhibit 1—
th e
for
F ederal D
Y
th e
B alan c e Sh eet— Jun e
e p o s it
I n surance
E nded Ju n e
ear
30, 1952
30, 1952
ASSETS
C ash ..........................................................................................................
$
United States Government securities, at cost (market or
redemption value, $1,414,314,000)................................................
Accrued interest receivable..................................................................
$1,420,891,147
3,862,135
Assets acquired through bank suspensions and absorptions
(note 1):
Equity in assets acquired under purchase agreements..................
Assets purchased outright....................................................................
3,736,630
1,102,124
Less estimate for losses..........................................................................
4,838,754
2,070,000
2,972,578
1,424,753,282
2,768,754
Deferred charges and sundry assets................................................
Furniture, fixtures, and equipment, at nominal value.............
144,630
1
$1,430,639,245
LIABILITIES
Accounts payable and accrued liabilities.....................................
Earnest money, escrow funds, and collections held for others
Employees’ accrued annual leave.....................................................
Deferred credits.......................................................................................
Net assessment income credits due insured banks (note 2):
Available July 1, 1952...........................................................................
Estimated amount available July 1, 1953, from net assessment
income for 6 months ended June 30, 1952...................................
590,440
292,548
1,021,343
6,685
$69,915,851
36,327,600
Deposit insurance fund, representing accumulated income from
inception to June 30, 1952, available for future deposit in
surance losses and related expenses (note 3 and exhibit 2).
106,243,451
1,322,484,778
$1,430,639,245
The notes following exhibit 2 are an integral part of this statement.
Exhibit 2—
St a t e m e n t
for
the
of
Y
Income
ear
and
D
e p o s it
E nded June
I nsurance F und
30, 1952
Deposit insurance assessments................................................................
Interest on United States Government securities...............................
Other income:
Income from bank mergers and receiverships.................................
Other..........................................................................................................
$ 127,747,093
30,092,199
$
83,294
11,830
95,124
157,934,416
Deduct:
Estimated loss on merger cases acquired during the year............
Administrative and operating expenses.............................................
880,000
6,995,257
7,875,257
150,059,159
Deduct net assessment income credits due insured banks (note 2):
Six months ended December 31, 1951...............................................
Six months ended June 30, 1952, estimated....................................
35,311,456
36,327,600
Net income for year transferred to deposit insurance fund.............
Deposit insurance fund, June 30, 1951.................................................
Net adjustment of prior years’ estimate of losses restored to de
posit insurance fund..........................................................................
71,639,056
78,420,103
1,243,839,379
225,296
Deposit insurance fund,
1 ) . June
...
30, 1952 (note 3 and$1,322,484,778
exhibit
Notes 2, 3, and 4 on the following page are an integral part of this statement.
28
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 1 6.
F in a n c ia l St a t e m e n t s
C o r p o r a t io n —
from
Ju n e
N
otes to
the
of
the
Federal D
A u d it o r s ' R e p o r t
for
the
e p o s it
Y
ear
I n surance
E nded
30, 1952— Continued
F in a n c ia l St a t e m e n t s — J u n e
30, 1952
1. Assets purchased under agreements with merged insured banks are evidenced by purchase
agreements allowing a return at the rate of 4 percent per annum on the principal purchase price and any
subsequent amounts expended by the Corporation. Under this arrangement the Corporation acquires
title to the assets which it liquidates, returning excess recoveries, if any, to the stockholders of the
closed banks involved.
Assets purchased outright represent collateral assets which have been purchased by the Corporation
from receivership and merger cases in order to facilitate the termination of the liquidations. These
assets are the absolute property of the Corporation and are not subject to any agreements with the
closed banks from which the assets were originally acquired.
2. Section 7(d) of the Federal Deposit Insurance Act (12 U. S. C. 1817(d) ) provides that as of
December 31, 1950, and as of December 31 of each year thereafter, the Corporation shall credit pro
rata to the insured banks 60 percent of the net assessment income (as defined in the act) for the calendar
year, the credit to be applied toward the payment of assessments becoming due for the semiannual
period beginning the next July 1 and any excess credit to be applied to the assessment of the following
period.
The net assessment income credits stated in the balance sheet ($106,243,451) are comprised of credits
for the calendar year 1951 and the first six months (ended June 30, 1952) of calendar year 1952 in the
amounts of $69,915,851 and $36,327,600, respectively.
3. At June 30, 1952, the deposit insurance fund was equivalent to 1.37 percent of the insured
deposits in all banks, estimated by the Corporation at 96.4 billion dollars. This fund, however, is not
a measure of the deposit insurance risk, and its adequacy to meet future losses will depend on future
economic conditions which cannot be predicted. Based on past loss experience, and the Corporation’s
compilation of data relating to banks which are potential loss cases, the fund appears to be adequate
at June 30, 1952.
The Corporation may borrow from the Treasury such funds as in the judgment of the board of
directors of the Corporation are required from time to time for insurance purposes, not exceeding, in
the aggregate, three billion dollars outstanding at any time. The Corporation has never used this bor
rowing power.
4. Under existing law, the Corporation is not required to bear the Government’s share of the cost
of furnishing retirement, disability, and compensation benefits to the employees of the Corporation.
These costs are estimated to be approximately $300,000 for the fiscal year 1952. Also, the Corporation
is furnished certain United States mail services without cost.
PART TWO
BANKING DEVELOPMENTS
A ssets a n d
L ia b il it ie s
of
A ll B a n k s
Developments during 1952. The year 1952 was one of moderate
growth in American banking. Total assets, total deposits, and total
capital accounts of all banks each increased by five percent during the
year. On December 31 total assets amounted to $215 billion, $11 billion
greater than at the beginning of the year. Deposits were $196 billion,
having grown by $10 billion. Capital accounts totaled $15 billion, an
increase for the year of three-fourths of a billion dollars. Table 17 presents
the amounts of various asset and liability items of all banks at the
beginning, middle, and end of 1952, and the changes during the year.
Table 17.
in th e
A m o u n t s a n d C h a n g e s in A ssets
U n i t e d S t a t e s (C o n t i n e n t a l U . S.
(Amounts in millions)
and
and
L ia b il it ie s , A ll B a n k s
O t h e r A r e a s ), 1952
Amount onAsset, liability, or capital
account item
Change during—
Dec. 31,
1952
June 30,
1952
Dec. 31,
1951
Year
1952
Last half First half
1952
1952
$214,831
$202,767
$203,863
$10,968
$12,064
$-1,096
Gash and funds due from banks
Currency and coin.........................
Member bank balances with F.
R. banks......................................
Balances with other banks..........
Cash items in process of collection
45,764
2,939
41,842
2,552
45,717
2,891
47
48
3,922
387
-3,875
-339
19,810
12,800
10,215
19,333
11,267
8,690
19,912
12,840
10,074
-102
-40
141
477
1,533
1,525
-579
-1,573
-1,384
Securities...........................................
U. S. Government obligations...
Obligations of States and sub
divisions .......................................
Other securities..............................
90,460
73,011
88,093
71,030
87,586
71,595
2,874
1,416
2,367
1,981
507
-565
10,564
6,885
10,124
6,939
9,392
6,599
1,172
286
440
-5 4
732
340
Loans and discounts, n e t ...........
Valuation reserves.............................
Loans and discounts, gross
Commercial and industrial..........
Agricultural (excluding real estate)
Real estate......................................
For carrying securities..................
Other loans to individuals...........
All other...........................................
Miscellaneous assets.....................
75,929
1,077
77,006
28,041
3,947
27,245
3,188
12,836
1,749
2,678
70,175
1,033
71,208
25,499
3,673
25,730
3,102
11,572
1,632
2,657
68,001
997
68,998
26,040
3,430
24,648
2,585
10,596
1,699
2,559
7,928
80
8,008
2,001
517
2,597
603
2,240
50
119
5,754
44
5,798
2,542
274
1,515
86
1,264
117
21
2,174
36
2,210
-541
243
1,082
517
976
-6 7
98
Total liabilities and capital ac
counts ............................................. $214,831
$202,767
$203,863
$10,968
$12,064
$-1,096
184,993
154,618
92,150
59,702
2,766
6,212
10,598
13,565
122,655
62,338
186,604
157,670
97,006
57,U72
3,192
3,700
10,102
15,132
126,680
59,92b
9,827
7,357
3,135
U,b37
-215
1,648
585
237
5,0b2
b,785
11,438
10,409
7,991
2,207
211
-864
89
1,804
9,067
2,371
-1,611
-3,052
-b,856
2,230
~b26
2,512
496
-1,567
-b,025
2,blU
Total assets...........................................
Deposits..............................................
Business and personal..................
Demand........................................
T im e.............................................
Certified checks, etc.....................
United States Government.........
States and subdivisions................
Interbank and postal savings.. ..
Total demand deposits...............
Total time deposits.....................
196,431
165,027
100,H I
61,909
2,977
5,348
10,687
15,369
131,722
6b,709
Miscellaneous liabilities..............
2,946
2,649
2,553
393
297
96
Capital accounts.............................
Capital stock, notes, and deben
tures ..............................................
Surplus.............................................
Undivided profits...........................
Other.................................................
15,454
15,125
14,706
748
329
419
4,017
7,776
3,066
595
3,976
7,459
3,120
570
3,840
7,262
3,027
577
177
514
39
18
41
317
-54
25
136
197
93
-7
Number of banks1...............................
14,617
14,641
14,661
44
-24
-20
1
Includes noninsured banks for which asset and liability data were not available, as follows: 21 for
Dec. 31, 1952; 17 for June 30, 1952; and 25 for Dec. 31, 1951.
31
32
FEDERAL DEPOSIT INSURANCE CORPORATION
As in recent years, both total assets and total deposits of all banks
declined during the first half of the year, and increased during the second
half. The asset decreases in the first months of the year were chiefly in
cash and funds due from banks, the liability decreases in interbank
deposits and in business and personal demand deposits. These in turn
reflected primarily the usual seasonal slackening of trade and the seasonal
increase in tax payments. It may be noted, however, that time deposits
increased in the first half of the year as well as in the second.
The increases in assets and deposits in the second half of the year were
sufficient both to offset the decreases during the first half and also to
produce a net increase for the year in all major asset, liability, and
capital account items of the banks. This may be attributed to a reversal
of the seasonal forces after the first months of the year, together with
normal growth tendencies.
Chart C.
L oans
P ercentage D
and
D
i s t r i b u t io n s o f
is c o u n t s ,
A ll B a n k s, D
T
otal
A sse ts
ecem ber
an d of
31, 1952
TOTAL A SSETS
$2 1 5 BILLION
O BLIGAT IO NS OF
STATES AND SUBDIVISIONS
OTHER SE C U R IT IE S
M ISCELLANEOUS
mmmmzmmm
NONGOVERNMENTAL OBLIGATIONS
\
90
100
PERCENT
LOANS AND DISCO UNTS
$ 7 7 BILLION (G RO SS)
O TH ER FARM LOANS
FOR CARRYING SECURITIES
Distribution of assets and liabilities at end of 1952. As illustrated
in the upper bar of Chart C, loans and United States Government obli
gations each constituted a little over one-third of total bank assets at
the close of 1952. In the second bar of Chart C all obligations of govern
mental units (currency and coin excepted) are combined, and non
33
ASSETS AND LIABILITIES OF ALL BANKS
governmental securities are combined with loans and discounts into a
total of nongovernmental obligations. Each of these combined amounts
constituted a little less than 40 percent of total assets, cash and miscel
laneous assets accounting for the remainder.
Of total loans of all banks at the end of 1952, those for commercial
and industrial purposes and those on real estate each made up a little
more than one-third. Other loans to individuals, primarily to consumers,
were about one-sixth of total loans. The percentage distribution of total
loans is shown in the lower bar of Chart C.
C h art D .
P e rc e n ta g e
D is tr ib u tio n s
o f T o t a l L ia b ilitie s an d
C a p ita l
A c c o u n ts, o f D e p o sits, and o f C a p ita l A c c o u n ts, A l l B a n k s,
D e c e m b e r 31, 1952
TOTAL. LIABILITIES AND CAPITAL ACCOUNTS
$215 BILLION'
CAPITAL ACCOUNTS
.90
100
PERCENT
DEPOSITS
$196 BILLION
STATES AND SUBDIVISIONS
90
100
PERCENT
D E M A N D D E P O SIT S
90
100
PERCENT
CAPITAL ACCOUNTS
$15 BILLION
90
100
PERCENT
On the liability side of the balance sheet of all banks, as illustrated
in Chart D, deposit and other liabilities accounted for 93 percent of the
34
FEDERAL DEPOSIT INSURANCE CORPORATION
total and capital accounts for 7 percent. Business and personal deposits
accounted for over four-fifths of total deposits. Classified by type,
two-thirds of total deposits were demand deposits and one-third time
deposits. Capital stock represented only one-fourth of total capital
accounts and surplus one-half, the balance being undivided profits and
contingency reserves.
Trends in banking. Banking developments in 1952 continued
previous trends. Table 18 gives a condensed statement of assets and
liabilities of all banks at the end of 1952 and of each of the preceding
six years. Table 19 shows for each of the last six years the percentage
increase or decrease in each asset or liability item, along with the average
rate of change for each item over the whole six-year period.
Table 18.
A sse ts
and
(C o n t in e n t a l U .
L ia b il it ie s , A ll B a n k s
S.
O t h e r A r e a s ), D
(Amounts in millions)
and
in th e
Asset, liability, or capital
account item
1952
1951
Total assets........................
$214,831
$203,863
$192,241
$180,043
45,764
73,011
45,717
71,595
41,236
73,188
10,564
6,885
75,929
2,678
9,392
6,599
68,001
2,559
Total
liabilities
and
capital accounts. .. $214,831
Total deposits..................
Business and personal.
Government and inter
bank ...........................
Miscellaneous liabilities.
Total capital accounts..
196,431
165,027
Number of banks1.............
Cash and funds due from
banks.............................
U. S. Govt, obligations.
Obligations of States and
subdivisions..................
Other securities...............
L o a n s a n d d is c o u n t s — n e t
Miscellaneous assets
1950
U n it e d St a t e s
ecem ber
1949
31, 1946-1952
1947
1946
$176,075
$176,024
$169,255
36,676
78,754
39,635
74,462
38,560
81,637
35,185
87,031
8,249
6,568
60,711
2,289
6,657
6,025
49,828
2,103
5,754
5,717
48,453
2,054
5,362
5,398
43,231
1,836
4,471
5,046
35,810
1,712
$203,863
$192,241
$180,043
$176,075
$176,024
$169,255
186,604
157,670
176,120
149,455
165,244
140,241
162,041
138,674.
162,729
1^0,857
156,751
188,955
81 ,404
2,946
15,454
28,984
2,553
14,706
26,665
2,205
13,916
25,008
1,633
13,166
28,867
1,480
12,554
22,872
1,298
11,997
22,796
1,159
11,345
14,617
14,661
14,693
14,736
14,753
14,767
14,655
1948
1 Includes noninsured banks for which asset and liability data were not available, as follows: 21 in
1952, 25 in 1951, 27 in 1950, 31 in 1949, 18 in 1948, 12 in 1947, and 104 in 1946.
Detailed data for 1952: See Table 107, pp. 104-105.
From 1947 through 1952 total assets of all banks increased at an
average annual rate of 4.1 percent, with increases in the different years
varying from nearly zero to as high as 6.8 percent. The 5.4 percent
growth for 1952 was somewhat less than that in the two preceding years,
though more rapid than that in 1948 and 1949. The average annual rate
of growth in deposits over the six-year period was 3.8 percent.
The proportion of total bank assets consisting of loans further in
creased in 1952, and the proportion consisting of United States Govern
ment obligations further decreased. These movements continued the
shift toward the prewar distribution of assets which has been underway
since 1945. At the end of 1952, for the first time since 1941, the amount
35
ASSETS AND LIABILITIES OP ALL BANKS
of loans held by banks exceeded their holdings of United States Govern
ment obligations. Table 20 gives the percentage distribution of assets
and liabilities of all banks at the end of each of the past seven years.
Table 19.
P ercentage C hanges
A ssets
in
U n i t e d S t a t e s ( C o n t i n e n t a l U . S.
and
L ia b il it ie s , A ll B a n k s
O t h e r A r e a s ), Y
and
early
and
in
th e
A verage,
1947-1952
Asset, liability, or capital
account item
Average
annual
rate,
194719521
Total assets........................
4.1 %
Cash and funds due from
banks.............................
U. S. Govt, obligations.
Obligations of States and
subdivisions..................
Other securities...............
Loans and discounts— net
Miscellaneous assets. . . .
T otal
liabilities
and
capital accounts___
Total deposits..................
1952
1951
6.0 %
5.4%
1950
1949
6.8%
1948
2.3 %
(2)
1947
4.0 %
4.5
-2 .9
.1
2.0
10.9
-2 .2
12.4
-7 .1
-7 .5
5.8
2.8 %
-8 .8
9.6
-6 .2
15.4
5.3
13.3
7.7
12.5
4.3
11.7
4.7
13.9
.5
12.0
11.8
23.9
9.0
21.8
8.8
15.7
5.4
2.8
2.4
7.3
5.9
12.1
11.9
19.9
7.0
20.7
7.2
4 .1 %
5.4%
6 .0 %
6 .8 %
2.3 %
3.8
5.3
6.0
6.6
2.0
Business and personal.
Government and inter
bank ..............................
3.5
h7
5.5
6.6
5.5
8.5
8.5
6.6
7.0
Miscellaneous liabilities.
Total capital accounts..
16.8
5.3
15.4
5.1
15.8
5.7
35.0
5.7
10.3
4.9
1.1
(2)
-0 .4 %
-1.2
u.u
14.0
4.6
4.0 %
3.8
J>.8
-1.9
12.0
5.7
1 Computed by compound interest formula.
2 Less than 0.05 percent increase.
Obligations of States and subdivisions held by banks continued to
increase more rapidly than total bank assets, and now constitute 5
percent of the total. Although the dollar amount of such obligations
held by the banks has reached a record high, the increase in 1952 repre
sented a return, percentagewise, to the prewar level.
Table 20.
th e
P ercentage D
A sse ts
i s t r i b u t io n o f
U n i t e d S t a t e s ( C o n t i n e n t a l U . S.
and
and
L ia b il it ie s , A ll B a n k s
O t h e r A r e a s ), D
ecem ber
in
31,1946-1952
Asset, liability, or capital
account item
1952
1951
1950
1949
1948
1947
1946
Total assets........................
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
21.3
34.0
22.4
35.1
21.4
38.1
20.4
43.7
22.5
42.3
121.9
46.4
20.8
51.4
4.9
3.2
35.3
1.3
4.6
3.2
33.4
1.3
4.3
3.4
31.6
1.2
3.7
3.3
27.7
1.2
3.3
3.2
27.5
1.2
3.0
3.1
24.6
1.0
2.6
3.0
21.2
1.0
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
91.4
91.5
91.6
91.8
92.5
92.6
77.7
77.9
92.0
77.3
78.7
79.8
79.1
U .6
1I>.2
13.9
13.3
12.7
1.4
7.2
1.8
7.2
13.9
1.2
.9
7.8
.9
7.1
.7
6.8
13.5
.7
Cash and funds due from
banks..............................
U. S. Govt, obligations..
Obligations of States and
Hksubdivisions..................
Other securities................
Loans and discounts— net
Miscellaneous assets. . . .
T otal
liabilities
and
capital a c c o u n ts...
Total deposits..................
Business and personal.
Government and inter
bank.............................
Miscellaneous liabilities.
Total capital accounts..
76.8
7.2J
6.7
36
FEDERAL DEPOSIT INSURANCE CORPORATION
The variation over recent years in the composition of total loans of
all banks is illustrated in Chart E. The category of loans reported as
“ other loans to individuals,” which consists chiefly of consumer loans,
has increased substantially during all but one of the years shown, and
has risen from 11 percent to 17 percent of total loans over the six-year
period. In other categories of loans no sustained movement is revealed,
but instead there have occurred both upward and downward variations
as the banking system has adjusted its services to the requirements of
the economy.
Chart E.
Percentage D
D
i s t r i b u t io n o f
ecem ber
L oans, A ll B a n k s,
31, 1946— 1952
37
ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS
A ssets
and
L ia b il it ie s
of
I n s u r e d C o m m e r c ia l B a n k s
At the close of 1952, insured commercial banks constituted 92 percent
of all banks in the nation, and held 87 percent of the total assets of all
banks. Asset and liability data for these banks are given in Table 21.
Because insured commercial banks determine the pattern of developments
for all banks, the broad picture of banking trends and the banking
situation described above applies also to insured commercial banks as
a separate group. Attention will therefore be directed in this section to
certain matters of interest concerning which available information is
more complete for insured commercial banks than for all banks.
Table 21.
A ssets
and
L i a b i l i t i e s , I n s u r e d C o m m e r c ia l B a n k s
U n i t e d S t a t e s (C o n t i n e n t a l
Asset, liability, or capital
account item
1952
U.
S. a n d O t h e r A r e a s ), D
(Amounts in millions)
1951
1950
1949
ecem ber
1948
in th e
31, 1946-1952
1947
1946
$186,682
$177,449
$166,792
$155,319
$152,163
$152,773
$147,365
44,299
62,408
44,242
60,599
39,864
61,047
35,222
65,847
38,097
61,407
36,936
67,960
33,704
73,575
10,006
3,866
63,824
2,279
9,016
4,058
57,371
2,163
7,959
4,192
51,809
1,921
6,403
3,574
42,499
1,774
5,511
3,421
41,979
1,748
5,131
3,621
37,592
1,533
4,301
3,593
30,740
1,452
T otal
liabilities
and
capital accounts___ $186,682
T otal assets........................
Cash and funds due from
banks.............................
U. S. Govt, obligations.
Obligations of States and
subdivisions..................
Other securities...............
Loans and discounts— net
Miscellaneous assets. . . .
$177,449
$166,792
$155,319
$152,163
$152,773
$147,365
Total deposits..................
Business and ^personal.
Government and inter
bank ............................
Miscellaneous liabilities.
Total capital accounts..
171,357
H O ,639
163,172
18U,915
153,498
127,480
143,194
118,929
140,683
118,07 U
141,889
120,260
137,029
115,024
30,718
2,740
12,585
28,257
2,354
11,923
26,018
2,013
11,281
2 U,265
1,476
10,649
22,609
1,320
10,160
21,629
1,148
9,736
22,005
1,048
9,288
Number of banks...............
13,439
13,455
13,466
13,436
13,419
13,403
13,359
Detailed data for 1951 and 1952: See Table 109, pp. 108-11.
Maturities of United States Government obligations. Of the
$62 billion of United States Government obligations held by insured
commercial banks at the end of 1952, 4 percent were nonmarketable
issues mostly redeemable on short notice at the option of the banks. Of
the marketable issues nearly one-third were to mature within one year
and over one-third between one and five years. The amounts and per
centage distributions of United States Government obligations held by
insured commercial banks are given in Table 22.
Assets protected by Government guarantee. In addition to
direct and fully guaranteed United States Government obligations,
other assets have been increasingly protected in recent years by full
or partial application of Federal insurance or guarantee. At the end of
38
FEDERAL DEPOSIT INSURANCE CORPORATION
1952 insured commercial banks reported $6.6 billion of loans secured by
residential real estate which were insured or guaranteed by the Federal
Housing Administration or by the Veterans Administration. This repre
sented 55 percent of total residential real estate loans held by insured
commercial banks. These banks also held $0.7 billion of loans to farmers
directly guaranteed by the Commodity Credit Corporation. Certain
other bank loans are known to be insured or guaranteed by one or another
Federal Government agency. Most of the $1.5 billion of repair and
modernization loans to individuals was insured by the Federal Housing
Administration, and most of the $1 billion of defense production loans
guaranteed by Federal agencies through the Federal Reserve banks were
loans by commercial banks. Smaller amounts of business and farm loans
were insured or guaranteed by the Veterans Administration, Recon
struction Finance Corporation, Export-Import Bank, and Farmers
Home Administration.
In total an estimated $10 billion of the loans held by insured com
mercial banks was either wholly or partially guaranteed or insured by the
Federal Government. Therefore such protection applied to approximately
15 percent of the total loans of insured commercial banks at the year-end.
T a b le 2 2.
A mount
O b l i g a t io n s H
and
P ercentage D
eld b y
i s t r i b u t io n o f
U n it e d St a t e s G o v e r n m e n t
I n s u r e d C o m m e r c ia l B a n k s
(C o n t i n e n t a l U . S.
and
O t h e r A r e a s ), D
in th e
ecem ber
U n it e d St a t e s
31, 1952
Percentage
distributions
Amounts"(in millions)
Classification
Total
Bills
Certifi
cates
of in
debted
ness
Notes
Bonds
Of total
holdings
by type
of issue
Of mar
ketable
direct
issues by
maturity
group
T o ta l................................................
$62,408
$7,629
$5,504
$11,800
$37,475
100.0%
Marketable direct issues.........
59,791
7.629
5.504
11,740
34,918
95.8
100.0%
Maturing within one year1. . .
Maturing between 1 and 5yearsl
Maturingbetween5andl0years
Maturing between 10 and 20
years.........................................
18,290
24,933
11,206
7.629
5.504
1,021
10,719
4,136
14,214
11,206
29.3
39.9
18.0
30.6
41.7
18.7
5,362
5,362
8.6
9.0
Marketable guaranteed issues2
22
22
(3)
2,535
4.2
Nonmarketable issues4.............
2,595
60
1
Reports of assets and liabilities made by the banks do not include information as to maturities of
issues other than"'bonds, and do not separate bonds maturing within one year from the total of those
maturing within five years. However, all issues of bills or certificates of indebtedness outstanding De
cember 31, 1952, were to mature within one year, and are so classified in this table. Amounts shown
here as notes and bonds maturing within one year are the amounts held by 7,092 principal commercial
banks included in the Treasury Survey of Ownership for December 31, 1952. Relatively small additional
amounts of notes and bonds maturing within one year and held by the remaining insured commercial
banks are not separately available and are included under notes and bonds maturing between one and
five years.
* Federal Housing Administration debentures.
* Less than 0.05 percent.
4
Reported by banks in total only. Allocation between notes and bonds is from Treasury Survey of
Ownership. Relatively small amounts of Treasury savings notes held by insured commercial banks not
included in the Survey are included under bonds.
39
ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS
T a b le 2 3.
T otal A ssets , T o ta l L o a n s , a n d O t h e r L o ans to I n d iv id u a l s ,
I n su red C o m m ercial B a n k s in th e U n it e d S tates
(C o n t in e n t a l U . S. a n d O t h e r A r e a s ), D ece m b e r 31, 1946-1952
(Amounts in millions)
1948
1946
1947
Asset item
1952
1951
1950
1949
Total assets........................
$186,682
$177,449
$166,792
$155,319
$152,163
$152,773
$147,365
Total loans and dis
counts— n e t...............
63,824
57,371
51,809
42,499
41,979
37,592
30,740
12,642
8,568
10,399
6,681
10,061
6,584
8,007
5,071
6,807
4,041
5,656
3,019
4,031
1,828
8,555
2 ,7 U
2,701
1,955
l,b 8 5
966
51U
1,781
1 ,8 U
i,m
1,028
797
551
828
1,U7S
1,759
4,074
1,150
1,U6S
3,718
1,075
1,88 U
3,477
928
1,170
2,936
729
1,080
2,766
558
9U
2,637
811
675
2,203
13,4391
13,455i
13,4661
13,436
13,419
13,403
13,359
Other loans to individ
uals1..............................
Instalment loans.............
Retail automobile in
stalment paper..........
Other retail instalment
p aper..........................
Repair and moderniza
tion instalment loans
Instalment cash loans.
Single-payment loans2..
Number of banks................
1 All loans to individuals except business loans, loans to farmers, loans for the purpose of purchasing
or carrying securities, and real estate loans.
2 For 1949, 1950, and 1951 single-payment loans of 3,000 or more were reported separately and
amounted, respectively to 2,003 million, 2,421 million, and 2,638 million.
Types of consumer loans. Banks report their consumer loans under
the classification “ Other loans to individuals,” which includes all loans
to individuals other than business, agricultural, security, or real estate
loans. Table 23 gives the amount and classification of loans so reported
by insured commercial banks, and for purposes of comparison the total
assets and total loans of these banks, at the end of each year from 1946
to 1952. Table 24 gives the percentage growth of the same items during
1952 and for the period since 1946, and their percentage distribution
at the end of 1952.
T a b le 2 4.
P e r c en t a g e s I llu str a tin g R e c e n t G r o w t h an d P r e s e n t R e l a t iv e
I m portance of O t h e r L o ans to I n d iv id u a l s , I n su red C om m ercial B a n k s
in th e
U n it e d S ta t e s (C o n t in e n t a l U . S. a n d O th er A r e a s )
Percentage change to
Dec. 31, 1952, from—
Percentage of total
Dec. 31, 1952
Asset item
Dec. 31,
1951
Total assets......................................................
5.2%
Dec. 31,
1946
26.7%
Total
assets
Other
loans to
in
dividuals
In
stalment
loans
100.0%
U .5
20.8
100.0%
Total loans and discounts— n e t ..........
11.2
107.6
34.2
Other loans to individuals1.....................
Instalment loans...........................................
Retail automobile instalment p a p er.. . .
Other retail instalment paper.................
Repair and modernization instalment
loans........................................................
Instalment cash loans...............................
Single-payment loans..................................
21.6
28.2
80.5
32.5
213.6
368.7
591.6
u s .o
6.8
4.6
1.9
1.0
100.0%
67.8
28.1
U .l
28.1
20.2
9.6
878.6
160.6
84.9
.8
.9
2.2
11.7
13.9
32.2
17.2
20.5
1 All loans to individuals except business loans, loans to farmers, loans for the purpose of purchasing
or carrying securities, and real estate loans.
40
FEDERAL DEPOSIT INSURANCE CORPORATION
The total volume of single-payment loans to individuals consists
principally of loans which cannot properly be classified as consumer
credit. This is suggested by the fact that for years in which a breakdown
is available about two-thirds of such loans were in the amount of $3,000
or more. Single-payment loans have grown in recent years at about the
same rate as total loans, but not at the more rapid rate characterizing
instalment loans to individuals.
It may be seen from those portions of the tables dealing with instalment
loans that the banks have participated in the recent rapid growth in
consumer credit. Consumer instalment loans by banks have risen fourfold
since 1946 and rose by nearly one-third in 1952. However, it should also
be noted that consumer loans are not as yet more than a minor segment
of total commercial bank credit, constituting at the end of 1952 less
than 5 percent of total assets.
Capital accounts. The ratio of total capital accounts to total assets
of insured commercial banks was 6.7 percent at the end of 1952. This
ratio was identical with that in 1951 and virtually the same as that in
other recent years.
I n co m e
of
I n s u r e d C o m m e r c ia l B a n k s
The forms provided to banks by the various banking agencies for the
reporting of earnings and dividends of each calendar year make use of
an accounting process which may be described in three parts. (1) From
current operating earnings, such as interest received on loans and service
charges collected, are subtracted current operating expenses, such as
wages and interest paid on time deposits. The result is net current
operating earnings. (2) Net current operating earnings are adjusted to
account for the effects of recoveries, losses, and changes in asset valuation
reserves, yielding the figure for profits before income taxes. (3) Profits
before income taxes are allocated among income taxes, dividends, and
additions to capital.
A more general view of the operating experience of banks may be
obtained by rearranging the items reported so as to provide an analysis
of the sources and disposition of total income. So conceived, total income
includes not only current operating earnings, but also other sources of
additions to undivided profits: recoveries on assets previously charged
off, profits on securities sold, and transfers from asset valuation reserves.
This total income is used to meet current operating expenses; to cover
losses, charge-offs, and transfers to valuation reserves; to pay income
taxes and dividends; and to provide for increases in bank capital.
Sources and disposition of income in 1952. The sources and
disposition of the total income of insured commercial banks for 1952
INCOME OF INSURED COMMERCIAL BANKS
41
are shown in Chart F. Total income was $5 billion, of which over half
was derived from loans and almost one-fourth from United States Govern
ment obligations. Of the total income, 30 percent was used for wages
and salaries and another 30 percent for current expenses of other kinds.
Charge-offs and taxes absorbed about 20 percent, leaving 20 percent
for dividends to stockholders and additions to capital.
Chart F.
S o u r c e s a n d D i s p o s i t i o n o p T o t a l In c o m e ,
I n s u r e d C o m m e r c ia l B a n k s ,
1952
Trends in m ajor sources o f incom e. For four years prior to 1947
the largest single source of bank income was securities, predominantly
United States Government obligations. The year 1947 marked a return
to the situation in which income from loans exceeded that from se
curities. The proportion of total income derived from loans has continued
to increase, and reached 55 percent in 1952. At the same time the propor
tion of total income derived from securities has decreased, although
the 1952 figure of 27 percent was the same as that for 1951. Table 25
gives the total income of insured commercial banks for the years 1947
through 1952 classified as to sources and disposition, and Table 26
presents percentage distributions based on these figures.
42
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 25.
S o u r c e s an d D is p o s itio n
o f T o t a l In c o m e , I n s u r e d
C o m m e r c ia l
1947-1952
B a n k s in t h e U n i t e d S t a t e s ( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) ,
(In millions)
Item
1952
1951
1950
1949
1948
1947
Total in co m e ....................................................
$5,076
$4,564
$4,177
$3,820
$3,670
$3,360
4,932
2,781*
1,099
277
2U5
527
4,395
2,U25
98U
2U9
230
507
3,931
2,008
1,015
226
212
U70
3,607
1,760
1,013
202
19 U
1*38
3,404
1,600
1,008
190
17 1*
1*32
3,098
1,282
1,080
179
11*8
1*09
144
169
246
213
266
262
$3,029
1,U95
U58
1,076
$2,701
1,350
385
966
$2,445
1,202
31*3
900
$2,284
1,111
328
81*5
$2,164
1,0 u
317
803
$1,982
91*7
298
737
362
695
442
548
395
560
419
489
367
428
391
546
380
325
354
477
486
275
332
413
295
302
315
466
Sources
Current operating earnings..........................
Loans.............................................................
U. S. Government obligations....................
Other securities.............................................
Service charges on deposit accounts..........
Other current earnings................................
Recoveries, transfers from valuation
reserves, and profits on securities sold.
Disposition
Current operating expenses.........................
Salaries and wages......................................
Interest on deposits......................................
Other current expenses................................
Charge-offs, losses, and transfers to
valuation reserves.......................................
Income taxes....................................................
Dividends.........................................................
Additions to capital accounts......................
Detailed data: See Table 110, pp. 114-15.
The shift in the relative importance of income from loans and se
curities between 1947 and 1952 was due principally to changes in the
amounts of these assets held, and only slightly to changes in rates of
income on the two kinds of assets. In terms of averages of figures for the
beginning, middle, and end of each year, the volume of loans in 1952
was 77 percent greater, and holdings of United States Government
obligations 13 percent less, than in 1947.
Table 26.
P e rc e n ta g e
D is tr ib u tio n
of
Sou rces
and
D is p o s itio n
o f T o ta l
In c o m e , I n s u r e d C o m m e r c ia l B a n k s in t h e U n i t e d S t a t e s ( C o n t i n e n t a l
U . S. a n d O t h e r A r e a s ) ,
1947-1952
Item
1952
1951
1950
1949
1948
1947
Total in co m e........................................
100. 0 %
100. 0%
100. 0 %
100.0 %
100. 0 %
100. 0 %
97.2
51*.8
21.7
5.5
1*.8
10.1*
96.3
53.1
21.6
5.5
5.0
11.1
94.1
1*8.1
21*.3
54
5.1
11.2
94.4
1*6.1
26.5
5.3
5.1
11.1*
92.8
1*3.6
27.5
5.2
U-7
11.8
92.2
38.2
32.1
5.3
u.u
12.2
2.8
3.7
5.9
5.6
7.2
7.8
59.7
29.5
9.0
21.2
59.2
29.6
8.1*
21.2
58.6
28.8
8.2
21.6
59.8
29.1
8.6
22.1
59.0
28.5
8.6
21.9
59.0
28.2
8.9
21.9
8.6
8.8
10.2
9.9
8.5
9.3
12.5
13.2
7.5
9.0
11.3
8.7
9.0
9.4
13.9
Sources
Current operating earnings.............
Loans.................................................
U. S. Government obligations. . . .
Other securities................................
Service charges on deposit accounts
Other current earnings...................
Recoveries, transfers from valua
tion reserves, and profits on
securities sold..................................
Disposition
Current operating expenses.............
Salaries and wages.........................
Interest on deposits.........................
Other current expenses...................
Charge-offs, losses, and transfers to
valuation reserves..........................
Income taxes.......................................
Dividends.............................................
Additions to capital accounts........
7.1
13.7
8.7
10.8
12.3
9.2
10.7
9.3
13.1
43
INCOME OF INSURED COMMERCIAL BANKS
There was a much smaller difference between the changes which
occurred in rates of income received. Both rates increased. The rate on
United States Government obligations rose by 17 percent, that on loans
by 22 percent. Holdings of municipal and corporate securities grew
rapidly, but the influence of this minor segment of securities on total
income from securities was overshadowed by the decrease in holdings
of United States Government obligations. Average rates of income on
loans and securities and other operating ratios for the years 1947 to
1952 are presented in Table 27.
Table 27.
in th e
S e l e c t e d O p e r a t i n g R a t i o s , I n s u r e d C o m m e r c ia l B a n k s
U n i t e d S t a t e s ( C o n t i n e n t a l U . S.
and
O th e r A r e a s),
1947-1952
Operating ratio1
1952
1951
1950
1949
1948
1947
Net current operating earnings to total assets
Net profits after taxes to total capital accounts
Dividends and interest on capital to total
capital accounts..............................................
Retained net profits to total capital accounts
1.06%
8.07
1.00%
7.82
.93%
8.51
.87%
7.98
.82%
7.49
8.20
3.60
4.47
3.61
4.21
3.55
4.96
3.40
4.58
3.33
4.16
3.31
4.89
4.64
Average rate of income on loans...................
Average rate of income on U. S. Government
1.80
obligations........................................................
Average rate of income on other securities..
2.04
Average interest paid on time and savings
deposits.............................................................
1.15
Average service charges to demand deposits
.20
Income taxes to net profits before income taxes 41.24
4.45
4.34
4.22
4.04
3.79
1.65
1.99
1.59
2.04
1.61
2.15
1.57
2.14
1.54
2.16
1.03
.94
.19
31.35
.91
.18
28.11
.90
.17
26.98
.87
.14
27.89
.20
38.15
.75%
1 For data used in deriving these ratios, and additional ratios, see Tables 110 and 111, pp. 114-17.
Income on loans. Loan income in 1952 was 15 percent greater than
in 1951, due primarily to the 10 percent growth in average loan volume,
and to a lesser extent to the increase in the average rate of income on
loans from 4.45 percent to 4.64 percent.
Banks in all size groups reported moderately higher average rates of
income on loans. As in previous years, average rates of income on loans
varied inversely with size of bank. Banks with deposits of $500,000 or
less received an average rate of return of 7.24 percent, and those with
deposits of more than $100 million an average of 3.76 percent.1 This
difference in rates of income is associated with differences in the nature
and size of loans and in the geographical distribution of banks of different
sizes. Average rates are highest in certain Southern and Western States,
and lowest in some Northern and Eastern States. The average rate of
income received on loans in each State is shown in Chart G.
Income on securities. Income on United States Government obli
gations was 12 percent greater in 1952 than in 1951. This growth, in
contrast to that in income from loans, was due chiefly to the receipt of
a higher average rate of income. The average amount of United States
1 For these and certain other earnings and expense statistics for banks grouped by size see Tables 114
and 115, pp. 122-125.
44
FEDERAL DEPOSIT INSURANCE CORPORATION
Government obligations held in 1952 was only 2 percent greater than
in 1951, while the average rate of income on such assets rose from 1.65
percent to 1.80 percent.
Income from other securities also increased in 1952, but its 11 percent
growth over 1951 was due almost entirely to greater holdings of such
securities. The rate of income on these securities averaged 2.00 percent,
practically the same as in 1951 but appreciably below the rate received
in other recent years.
C h art
G.
R a t e o f In c o m e o n L o a n s , I n s u r e d C o m m e r c ia l B a n k s ,
1952
Recoveries on charged-off assets and profits on securities sold.
Although all sources of current operating earnings, as shown in Table 25,
provided greater income in 1952 than 1951, there was for the second
successive year a decrease in income from other sources. The decrease
in 1952 was due partly to a decline in recoveries on assets previously
charged-off, but mainly to a reduction in the amount of profits on se
curities sold.
Compensation of employees. Total compensation paid to officers
and employees of insured commercial banks during 1952 was 11 percent
greater than in 1951, due to increased employment and higher average
rates of pay. Banks report separately their salary and wage payments
to officers and to employees, and report also the number of officers and
employees at the end of the year. These reports indicate that for 1952
INCOME OF INSURED COMMERCIAL BANKS
45
the average salary of bank officers was $7,041, and the average com
pensation of other employees $2,784. The number of employees reported
includes those working part time, and this average therefore understates
to an unknown extent the average compensation of full-time bank
employees. The figures reported also exclude the costs of fringe benefits,
such as payments for hospitalization insurance or into pension funds, the
amounts of which are not separately reported. Average compensation,
especially of bank officers, varies directly with the size of bank, as in
dicated in Chart H.
C h art
H.
A v e r a g e S a l a r y o f E m p lo y e e s , I n s u r e d
C o m m e r c ia l B a n k s ,
1952
46
FEDERAL DEPOSIT INSURANCE CORPORATION
Interest on time deposits. Next to wages and salaries, the largest
single expense to banks in 1952 was the interest paid on savings and
time deposits. Such payments increased 19 percent over 1951, about
one-third of the rise being due to growth in deposits and two-thirds
to the advance in the average rate of interest paid. The average rate of
1.15 percent paid in 1952 further extended the sharp increase of 1951,
in contrast to the slow rise of preceding years. Relevant figures are given
in Table 27.
Net current operating earnings. Net current operating earnings—
the excess of current operating earnings over current operating expenses—
of insured commercial banks in 1952 was 12 percent greater than in
1951. This may be attributed partly to the growth in bank assets and
the change in their composition, inasmuch as the costs of acquiring and
servicing individual assets do not rise in proportion to their dollar amount.
It is probably attributable in part also to a more rapid rise in rates of
income received on bank assets than in wages, salaries, and other costs
of banking operations.
Charge-offs and additions to reserves. Total losses, charge-offs,
and transfers to asset valuation reserve accounts were 8 percent smaller
in 1952 than in the preceding year. The decline was fully accounted for
by reduced additions to reserve accounts for loans. It is probable that
by 1952 many banks had become ineligible to make further additions
to bad-debt reserves in accordance with the December 8, 1947, ruling
of the Commissioner of Internal Revenue. Moreover, the maximum
amount of reserves which may be accumulated under this ruling is now
diminishing for most banks, because the maximum is based on average
losses of the preceding twenty years. As depression years of the early
1930’s are successively dropped from the period to be averaged, the
ceiling levels decline.
The number and percentage of banks using the reserve method of
accounting changed but little between 1951 and 1952, as indicated in
Table 28. At the end of 1952, 45 percent of all insured commercial banks
had reserves established in accordance with this ruling. The larger banks
have made relatively greater use of this procedure. At the end of 1952,
over nine-tenths of the banks with deposits of $100 million or more had
bad-debt reserves established in this manner; and reserves held by these
banks comprised 63 percent of all such reserves.
Losses and recoveries which are debited or credited to asset valuation
reserves and therefore do not affect undivided profits are not a source
or use of total income as that concept is used in this report. However,
such losses and recoveries are separately reported by the banks, making
possible comparisons of losses charged to reserve accounts with losses
charged directly to capital accounts. For the year 1952 the realized
47
INCOME OF INSURED COMMERCIAL BANKS
losses on loans of insured commercial banks were $88 million and those
on securities $123 million, up 3 percent and 21 percent, respectively,
compared with 1951. The larger loss on securities in 1952 may be at
tributed in part to the sale of securities at the lower market prices pre
vailing in 1952. Of the losses on loans, approximately three-fourths were
charged to reserve accounts, the same proportion as in other recent
years. Of the losses on securities, however, only one-fifth were covered
by reserves and the remainder was charged to capital accounts.
T a b le 2 8 .
N u m b e r a n d P e r c e n t a g e o f I n s u r e d C o m m e r c ia l B a n k s R e p o r t i n g
R e s e r v e s f o r B a d D e b t s P u r s u a n t t o S e c tio n
23(K)1
C o d e , a n d A m o u n t o f R e s e r v e s so H e l d , D e c e m b e r
O p e r a tin g T h r o u g h o u t
1952
o f th e In te r n a l R even u e
31, 1948-1952,
D ecem ber
31, 1952
Reserves held1
Number of banks
Year or size group
Total
Reporting
reserves
All insured commercial banks
Dec. 31:
13,439
6,112
1952....................................................
6,013
1951....................................................
13,455
13,446
5,796
1950....................................................
1949....................................................
13,436
5,580
1948....................................................
13,419
5,123
Banks operating throughout 1952—
to ta l..................................................
Banks with deposits Dec. 31 of—
$500,000 or less...............................
$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............
$50,000,000 to $100,000,000..........
More than $100,000,000.................
w ith B a n k s
G ro u p ed b y A m ou n t o f D e p o sits f o r
Percent
reporting
reserves
45.5%
44.7
43.1
41.5
38.2
Amount
(in
thousands)
Percentage
distribution
of total
(1952)
$794,031
716,455
590,560
464,034
320,658
13,367
6,108
45.7
791,9872
100. 0%2
371
1,607
3,052
4,357
13.7
1,571
186
213
158
197
164
2,315
8,992
37,215
48,662
130,140
63,204
501,297
(3)
0.3
2,010
51
367
891
1,968
1,266
1,210
22.8
29.2
45.2
63.0
77.0
84.9
92.5
1.1
4.7
6.1
16.4
8.0
63.3
1 Reserves for bad-debt losses on loans, set up in accordance with Section 23(K)1 of the Internal
Revenue Code; these comprise the major portion of total valuation reserves for loans, which totaled
$903,935,000 on December 31, 1952.
* Components do not add to total because of rounding.
8 Less than 0.05 percent.
Net profits. The substantial increase in net current operating earnings
in 1952, along with relative stability in net charge-offs on assets, lifted
net profits before income taxes to a record $1,685 million. Of this amount,
income taxes absorbed $695 million, leaving net profits after taxes of
$990 million.
The higher level of net profits before income taxes in 1952 resulted
in both a larger tax base and a higher average rate of income tax, as a
consequence of which income taxes rose by 24 percent over those of
1951. Notwithstanding this sharp advance in income taxes, net profits
after taxes were 9 percent greater than in 1951, and higher than in any
previous year. Net profits after taxes in 1952 were equal to 8.07 percent
of total capital accounts.
48
FEDERAL DEPOSIT INSURANCE CORPORATION
As in previous years, the rates of net profit varied considerably among
different geographical areas and among banks of different size groups.
Of the 13 States, including the District of Columbia, with rates of net
profit below 8.0 percent, all except Wisconsin and New Mexico were
in the Northeast section of the United States. At the same time, all
but one of the 10 States with rates of net profit of 10 percent or more
were west of the Mississippi river. Average rates of net profit of banks
in the various States are presented in Chart I.
C h art I.
R a te s o f N e t P r o fit s A f t e r T a x e s on T o t a l C a p ita l A c c o u n ts,
In su re d
C o m m e r c ia l B a n k s ,
1952
UNITED STATES AVERAGE 8.1%
The rate of net profit on total capital accounts varied only moderately
among banks grouped by size. Relatively small banks, but not the
smallest, averaged the highest rate, or 9.57 percent. Banks in the smallest
and the largest size groups averaged the lowest rates, 7.60 and 7.64
percent respectively. Rates of net profit in banks grouped by amount
of deposits are shown in Chart J.
Disposition of net profits. For the tenth consecutive year dividend
payments increased, reaching a total of $442 million in 1952. This dis
tribution was 45 percent of net profits after taxes, about the same propor
tion as in 1951, and within the range of 40 to 46 percent thus distributed
in every year since 1947. Dividends in 1952 were equal to 3.60 percent
of total capital accounts, similar to other recent years.
INCOME OF INSURED COMMERCIAL BANKS
49
The proportion of net profits distributed to stockholders varied among
banks in the different size groups. Each of the groups of banks with
deposits of less than $10 million paid out about one-third of net profits
after taxes. In the larger size groups the proportion of net profits thus
distributed advanced with increases in size of bank, and averaged over
one-half among banks with deposits of more than $100 million. The
rate of dividends on total capital accounts varied accordingly, as shown
in Chart J, modified only by the moderate differences in rates of net
profit among the different size groups of banks. Because of concentrated
ownership and tax considerations, smaller banks usually disburse a
smaller proportion of their profits in the form of dividends than do
larger banks.
C h art J.
R a t e s o f N e t P r o f i t a n d C a s h D iv id e n d s ,
I n s u r e d C o m m e r c ia l B a n k s ,
1952
Profits not distributed to stockholders are, of course, retained in
capital accounts. The disbursement of 45 percent of net profits in 1952
meant that 55 percent was held as additions to capital. The retention
of profits has for many years been the principal source of growth in
bank capital.
50
FEDERAL DEPOSIT INSURANCE CORPORATION
M
utual
Sa y i n g s B a n k s
Mutual savings banks are organized on a cooperative basis, without
capital stock, according to the applicable laws of the States in which
they operate. Earnings resulting from their operation are distributed to
depositors in the form of dividends or retained in surplus.
C h art K .
P ercentages
H eld
by
M
of
T
utual
otal
D
e p o s it s a n d
Sa v in g s B a n k s , D
T
im e
D
ecem ber
e p o s it s o f
31, 1952
A ll B a n k s
51
MUTUAL SAVINGS BANKS
Nearly all of the deposits of mutual savings banks are savings and
time deposits, and their loans and investments consist largely of long
term obligations. Mutual savings banks comprise less than 4 percent of
all banks in the United States; but they hold almost 12 percent of total
bank deposits and 35 percent of savings and time deposits.
There is a marked geographical concentration of mutual savings
banks, all but 28 of the 529 banks being located in nine northeastern
States. Within this area the savings banks hold a substantial proportion
of total bank deposits. In the New England States and in New York
State one-fourth to one-half of all bank deposits, and one-half to over
three-fourths of all savings and time deposits, are in mutual savings
banks. The percentages of bank deposits held by mutual savings banks
in the 17 States having such banks are shown in Chart K.
Assets and deposits of all mutual savings banks. Deposits of
all mutual savings banks totaled almost $23 billion at the end of 1952,
and their surplus accounts exceeded $2 billion. Real estate loans of over
$11 billion, and United States Government obligations of over $9 billion,
constituted the main uses of these funds. Other securities totaling $3
billion and cash of nearly $1 billion comprised most of the remaining
assets. Assets and liabilities of all mutual savings banks in the United
States from December 31, 1946, to December 31, 1952, are presented
in Table 29.
Table 29.
A ssets
D
and
L ia b il it ie s , M
ecem ber
utual
S a v in g s B a n k s ,
31, 1946-1952
(Amounts in millions)
Asset, liability, or capital
account item
1952
1951
1950
1949
1948
1947
1946
Total assets........................
$25,233
$23,439
$22,385
$21,493
$20,474
$19,714
$18,704
918
9,422
797
10,868
873
11,428
878
11,476
886
9,819
11,979
818
11,778
Cash and funds due from
banks.............................
U. S. Govt, obligations.
Obligations of States and
subdivisions..................
Other securities...............
Real estate and other
loans— net.....................
Miscellaneous assets. . . .
325
2,906
147
2,432
88
86
2,253
2,308
71
2,162
65
1,653
61
1,339
11,349
313
9,862
293
8,137
242
6,578
5,686
220
201
4,944
187
4,527
181
Total
liabilities
and
surplus accounts. ..
$25,233
$23,439
$22,385
$21,493
$20,474
$19,714
$18,704
Total deposits..................
Miscellaneous liabilities.
Surplus accounts.............
22,621
133
2,479
20,915
117
2,407
20,032
106
2,247
19,293
78
2,122
18,405
70
1,999
17,763
62
1,889
16,869
51
1,784
Number of banks................
529
529
529
531
532
533
886
5411
1 Includes 8 guaranty savings banks in New Hampshire.
Detailed data for 1952: See Table 107, pp. 104-05.
The increase in deposits since 1946 has been invested principally
in real estate loans. In the 6-year period ending with 1952 these loans
52
FEDERAL DEPOSIT INSURANCE CORPORATION
advanced 150 percent. Securities other than United States Government
obligations increased almost as much, or by 131 percent. Holdings of
United States Government obligations declined 20 percent.
Insured mutual savings banks. Four additional mutual savings
banks became insured in 1952, raising to 206 the number insured by the
Federal Deposit Insurance Corporation. Two of the newly insured banks
are in Rhode Island, and one each in Maine and Delaware. At the end
of the year 39 percent of all mutual savings banks were insured by the
Federal Deposit Insurance Corporation. These held 74 percent of the
deposits of all mutual savings banks.
The proportion of mutual savings banks insured by the Corporation
varies widely among the States, as shown in Table 30. The extremes are
New York and Massachusetts. All of the 130 mutual savings banks in
New York State are insured, while none of the 188 in Massachusetts
is insured.
Table 30.
N u m b e r an d D e p o s its , In s u r e d an d N o n in s u r e d
31, 1952
M u t u a l S a v in g s B a n k s , b y S t a t e , D e c e m b e r
Number of banks
Deposits (in millions)
State
T o ta l.......................
529
Maine
8
72
5
4
New York.........
New Jersey....
Pennsylvania. . .
Delaware............
Maryland...........
130
23
7
130
23
7
9
1
6
Ohio.....................
Indiana...............
Wisconsin...........
Minnesota..........
Oregon.................
Washington........
3
4
4
3
3
3
1
1
4
Non
insured
banks
323
$22,621
$16,785
$5,836
24
34
261
308
94
3,615
296
1,489
40
221
206
32
34
7
188
2
Insured
banks
Non
insured
..................
New Hampshire.
Vermont.............
Massachusetts ..
Rhode Island . . .
Connecticut. . . .
8
Total
Insured
7
1
1
4
188
3
68
1
3
1
1
308
94
00 if*.
Total
13,279
753
13,279
753
1,222
1,222
21
96
426
263
50
16
191
24
238
385
263
36
16
191
24
238
3,615
154
1,408
75
41
Per
centage
of
banks
insured
Per
centage
of de
posits
held by
insured
banks
38.9%
74.2%
25.0
15.3
100.0
100.0
62.5
5.6
47.9
5.5
100.0
100.0
100.0
100.0
100.0
100.0
21.8
50.0
66.7
100.0
14
Q)
90.3
100.0
75.0
75.0
72.8
97.4
100.0
100.0
100.0
100.0
100.0
100.0
1 Less than|$500,000.
A substantial proportion of the assets of insured mutual savings banks
are obligations of or guaranteed by the Federal Government. Almost
three-fifths of the nearly $19 billion of assets of insured mutual savings
banks were thus insured or guaranteed at the end of 1952. At that time
the insured mutual savings banks had United States Government obli
gations totaling $6.6 billion, and real estate loans Federally insured or
guaranteed aggregating $4.4 billion.
53
MUTUAL SAVINGS BANKS
Deposits of insured mutual savings banks advanced 9 percent during
1952 and at the year-end totaled nearly $17 billion. Only a small fraction
of the growth was due to the increase by 4 in the number of such insured
banks. Over 90 percent of the total deposits of insured mutual savings
banks is in accounts which are fully insured by the Federal Deposit
Insurance Corporation, due to the fact that few savings bank accounts
exceed the $10,000 limitation.
Income
of
I nsured M
utual
Sa v i n g s B a n k s
Sources and disposition of income in 1952. Total income of
insured mutual savings banks in 1952 was $626 million. As shown in
Chart L, over one-half of this income was derived from real estate loans,
and an additional one-fourth from interest on United States Government
obligations. The pattern of income sources was thus broadly similar to
that of commercial banks, except as to the nature of loans upon which
income was received.
Chart L.
Sources
I nsured M
and
D
utual
is p o s it io n o f
T
otal
S a v in g s B a n k s ,
Income,
1952
54
FEDERAL DEPOSIT INSURANCE CORPORATION
The disposition of income by mutual savings banks differed greatly
from that of commercial banks. Three-fifths of the income of mutual
savings banks was paid out to depositors as dividends. Salaries and
wages absorbed only about one-tenth, and other current expenses an
additional one-tenth, of mutual savings bank income. Differences between
these proportions and those for commercial banks reflect primarily
differences in the nature of business carried on by the two kinds of
institutions.
Comparisons with 1951. Changes in classification and treatment of
mutual savings bank earnings data which were introduced in the new
report form of 1951 preclude comparisons with prior years. Table 31,
therefore, presents comparative data only for the past two years, and
percentage changes from 1951 to 1952. Total income declined three
percent despite an 11 percent rise in current operating income, due
principally to a decline in transfers from valuation adjustment pro
visions. In the disposition of total income the most marked differences
between 1951 and 1952 were an increase in dividends to depositors and
a consequent decrease in additions to surplus.
Table 31.
Sources
Insured M
and
utual
D
is p o s it io n o f
S a v in g s B a n k s ,
T
otal
Income,
1951-1952
(Amounts in millions)
Amount
Percentage
change
Item
1952
1951
T otal in com e.........................................................................................
$626
$643
Sources
Current operating income................................................................
Real estate mortgage loans.............................................................
U. S . Government obligations........................................................
Other securities.................................................................................
Other current income.......................................................................
Other income.......................................................................................
Nonrecurring incom e......................................................................
Realized profits and recoveries1.....................................................
Transfers from valuation adjustment provisions.......................
568
S27
16k
63
lk
58
15
6
37
514
279
171
50
lk
129
21
12
96
Disposition
Current operating expenses..............................................................
Wages and salaries..........................................................................
Other current expenses....................................................................
State franchise or income taxes......................................................
Dividends and interest on deposits................................................
Other expenses....................................................................................
Nonrecurring expenses....................................................................
Realized losses1.................................................................................
Transfers to valuation adjustment provisions.............................
Net addition to surplus from operations......................................
117
60
57
9
365
84
2k
26
3k
51
107
56
51
6
282
125
25
26
7k
123
- 2. 6 %
10.5
17.2
-k .l
26.0
-55.0
-28.6
-50.0
-61.5
9.3
7.1
11.8
50.0
29.4
-32.8
-k .o
-5 k -l
-58.5
1 Excludes recoveries credited and realized losses charged to valuation adjustment provisions.
Detailed data for 1952: See Table 117, p. 136.
Income from loans. At a time when interest rates were rising and
the average rate of income on loans held by insured commercial banks
was advancing, the rate of return on loans of insured mutual savings
INCOME OF INSURED MUTUAL SAVINGS BANKS
55
banks declined slightly. The average rate on real estate loans, in which
mutual savings banks specialize, was 4.08 percent during 1952, compared
to 4.13 percent during 1951. One reason for this decline, at a time when
interest rates were generally rising, was a shift in the composition of
mutual savings bank mortgage portfolios toward a larger proportion
of Federally insured or guaranteed loans, which ordinarily bear lower
interest rates than conventional real estate loans. At the end of 1951
residential real estate loans insured or guaranteed by the Veterans’
Administration or the Federal Housing Administration constituted
45 percent of all real estate loans of insured mutual savings banks, but
at the end of 1952 were 50 percent of the total. This shift in proportions
came about not through a decline in the amount of conventional real
estate loans, but through a larger increase in holdings of insured or
guaranteed real estate loans.
Compensation of employees. The average compensation of mutual
savings bank officers in 1952 was $10,925, and of other employees $3,495.
These represented increases over the averages for 1951 of 4 percent and
7 percent, respectively. In addition the banks set aside or paid out as
pensions, social security taxes, and other benefits to officers and em
ployees an average of $789. The average salaries are higher than those
reported for insured commercial banks, due largely to the geographical
concentration of insured mutual savings banks in higher wage areas, but
also to differences in the average size of banks, the nature of work done,
and in the method of reporting the number of part-time employees.
Dividends and additions to surplus accounts. Dividends to
depositors were 29 percent greater than in 1951. This larger distribution
was due in part to the fact that mutual savings banks were for the first
time subject to Federal income taxes. The tax applies to the undistributed
earnings of mutual savings banks which have a ratio of capital funds to
total deposits exceeding 12 percent. The average rate of dividends paid
on deposits advanced from 1.88 percent in 1951 to 2.27 percent in 1952,
and was about twice the average rate of interest paid on savings and
time deposits by the insured commercial banks. The relatively large
disbursement of earnings and dividends reduced by more than half, as
compared to 1951, the proportion of total income credited to surplus.
With the growth in assets, this resulted in a decline during the year in
the ratio of surplus accounts to total assets from 9.8 percent to 9.3
percent.
PART THREE
INSURANCE OF BANK OBLIGATIONS PRIOR
TO FEDERAL DEPOSIT INSURANCE
S t a t e S y s t e m s o f B a n k -O b l ig a t io n
Insurance
The roots of Federal deposit insurance lie deep in America's banking
history. At the time of its adoption in 1933, insurance of bank obligations
had a legislative history in the Congress reaching back to 1886 and a
record of State experiments extending back to 1829. An analysis of
Congressional proposals was published two years ago.1 The objectives
and character of State systems adopted prior to 1933 are described here.
Studies of the operations of the various State systems are in progress.
Particular attention is being paid to the quality of supervision of the
insured banks, adequacy of the insurance funds, and the impact of
changes in business conditions upon the operations of the systems. It
is planned to make the results of these studies available when they are
completed.
Purpose o f State insurance plans. Among the various motives
which led States to make use of the insurance principle for the protection
of bank depositors and noteholders, there were two which were of im
portance: to protect the community from severe fluctuations of the
circulating medium occasioned by waves of bank failures; and to guard
against loss to individual depositors and noteholders, particularly those
of small means. The available evidence indicates that the first of these,
concern with the circulating medium as such, predominated.
Credit for the idea of insurance of bank obligations is given to Joshua
Forman of New York. Writing in 1829, when bank-supplied circulating
medium was largely in the form of banknotes rather than deposits, he
argued as follows:
. . they [the banks] enjoy in common the exclusive
right of making a paper currency for the people of the State and by the
same rule should in common be answerable for that paper.” 2 Nearly
a century later, the Supreme Court of the United States, in upholding
the constitutionality of deposit insurance laws in Oklahoma, Kansas,
and Nebraska, defined the purpose of insurance of bank obligations by
the States. In a unanimous opinion, rendered in 1911, both of the pur
poses described earlier were noted but protection of the circulating
medium was clearly given major emphasis. Justice Holmes said:
It may be said in a general way that the police power extends to
all the great public needs. It may be put forth in aid of what is sanc
tioned by usage, or held by the prevailing morality or strong and
preponderant opinion to be greatly and immediately necessary to
the public welfare. Among matters of that sort probably few would
doubt that both usage and preponderant opinion give their sanction
to enforcing the primary conditions of successful commerce. One of
1 Annual Report of the Federal Deposit Insurance Corporation for 1950, pp. 68-101.
* Assembly Journal, New York State, 1829, p. 179.
59
60
FEDERAL DEPOSIT INSURANCE CORPORATION
those conditions at the present time is the possibility of payment by
checks drawn against bank deposits, to such an extent do checks
replace currency in daily business . . . the primary object of the
required assessment is not a private benefit . . . but . . . is to make
the currency of checks secure, and by the same stroke to make safe
the almost compulsory resort of depositors to banks as the only avail
able means for keeping money on hand.1
Adoption o f insurance systems. The insurance of bank obligations
among the States occurred during two periods, over forty years apart.
The first began in 1829 with the adoption of an insurance plan by New
York. During the next three decades another eastern State and four
western States followed New York’s lead. The last of these systems
came to a close in 1866 when the great majority of State chartered banks
became national banks.
Insurance of bank obligations was not attempted again by the States
until 1907 when Oklahoma provided for the establishment of a deposit
guaranty fund. Similar funds were established in seven other States
during the following decade. By 1930 all eight had become insolvent
or inoperative, as a consequence of large numbers of bank failures or of
relatively high incidence of failures among the larger insured banks.
The fourteen States which adopted insurance systems between 1829
and 1917, and the length of time each system operated, are shown in
Table 32. In the majority of cases the systems eventually proved un
workable. However, several enjoyed a moderate degree of success during
their entire period of operation; and three, in Indiana, Ohio, and Iowa,
were highly successful.
Insurance
of
B a n k O b l ig a t io n s
in
Six St a t e s,
1829-1866
The bank-obligation insurance plans operating prior to 1866 differed
substantially from those of the later period. This was a consequence
both of the characteristics of banking during this earlier period and the
fact that the plans were experimental procedures in providing protection
for bank creditors.
Approximately one-half of the nation’s bank-supplied circulating
medium before 1860 was composed of the notes issued by individual
banks. This was because banks commonly extended credit in the form
of circulating notes rather than deposits, particularly in the less developed
areas of the country. For example, in 1838 note circulation of safety-fund
banks in Michigan was more than three times their deposits, whereas
in New York City the banks’ deposits exceeded their banknotes by
about the same extent.
i Noble State Bank v. Haskell (1911), 219 U. S. 111.
INSURANCE OF BANK OBLIGATIONS IN SIX STATES
Table 32.
61
S t a t e I n s u r a n c e S y s te m s f o r t h e P r o t e c t i o n
o f B a n k C r e d ito r s P r io r t o
State
Date of passage
of law
1933
Period of
operation1
Adopted from 1829 to 1858
New York
Vermont
Indiana
Michigan
Ohio
Iowa
April 2, 1829
November 9, 1831
January 28, 18342
March 28, 1836
February 24, 1845*
March 20, 1858
1829-1866
1831-1866
1834-1866
1836-1842
1845-1866
1858-1865
Adopted from 1907 to 1917
Oklahoma
Kansas
Nebraska
Texas
Mississippi
South Dakota
North Dakota
Washington
December 17, 1907
March 6 , 1909
March 25, 19094
May 12, 1909
March 9, 1914
March 5, 1915
March 10, 1917
March 10, 1917
1908-1921
1909-1926
1911-1930
1910-1925
1914-1930
1915-1925
1917-1929
1917-1921
1 In a number of cases the law was repealed subsequent to the terminal date shown above. In some
of the first six States closing dates may have preceded date shown by one year.
2 Indiana’s insurance system was included in the act establishing the State Bank of Indiana, the
charter of which expired January 1, 1857. The same insurance system was included in the March 3,
1855, act establishing the successor institution, the Bank of the State of Indiana.
8 An insurance system was provided for in an act of March 7, 1842; however, no banks were or
ganized under the law and it was repealed in 1845.
* A permanent injunction preventing the State banking board from putting the law into operation
was not dissolved until January 3, 1911, when the United States Supreme Court ruled the Oklahoma,
Kansas, and Nebraska laws constitutional.
Another difference related to the function of bank capital. In addition
to serving as ultimate security for the protection of bank creditors, bank
capital was more extensively used as a tool for the limitation of bank
operations than is the case today. In the early decades of the nineteenth
century restrictions as to the amount of bank lending, or the creation of
obligations, were often expressed in terms of multiples of capital rather
than, as at present, in terms of required reserves against deposits.
Table 33 summarizes the provisions of each of the six plans which
operated prior to establishment of the national banking system.
Obligations insured. In the first four plans adopted, all debts of
the participating banks, i.e., circulating notes and deposits primarily,
were covered by insurance. In New York insurance was later restricted
to circulating notes and this same restriction was also provided for in
the last two plans adopted. However, in none of the six State plans was
there any limitation within the framework of obligations insured on
the amount of insurance provided the individual bank creditor.
Limitation of insurance to circulating notes in the three States reflected
a then current, but by no means universal, belief that banks affected the
circulating medium only through the issuance of banknotes. Also, there
was the feeling that depositors could “ choose” their banks, whereas
noteholders, who were commonly persons of modest means, frequently
had no choice but to receive the banknotes.
62
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 33.
P r i n c i p a l P r o v i s io n s
P la n s A dopted
State
by
of
B a n k - O b l i g a t io n I n s u r a n c e
Si x St a t e s ,
Obligations insured
1829-1858
Banks participating
New York
1829-42, all debts*
1842-66, circulating notes2
All banks established or rechartered
subsequent to passage of act3
Vermont
All debts1
All banks established or rechartered
subsequent to passage of act4
ndiana
All debts1
Branch Banks6
Michigan
All debts1
All banks established or rechartered
subsequent to passage of act
Ohio
Circulating notes
Branch Banks6
Iowa
Circulating notes
Branch Banks6
1 Included circulating notes, deposits, and miscellaneous liabilities; excluded capital accounts.
2 Act of April 12, 1842.
3 Free Banks, which were authorized in 1838, did not participate in insurance.
Membership. Most of the insurance plans adopted during the early
period were intended to include, immediately or eventually, all operating
banks. In New York, Vermont, and Michigan the law applied to all
banks to be formed subsequent to the act, with provision that existing
banks must join at the time their charters were extended or renewed.
Michigan went even further and specifically provided what may have
been intended in the earlier plans: that existing banks could join at their
option prior to a renewal or extension of their charter.
In Indiana, Ohio, and Iowa all Branch Banks of State Bank systems
were included in the insurance plans. These Branch Banks were not
similar to modern institutions of the same designation but, instead, were
independent banks supervised by an agency called the State Bank. Since
the Indiana constitution originally restricted banking to Branch Banks
there was full participation during the first eighteen years of the plan’s
operation in that State. Branch Banks in Ohio and Iowa were not given
monopoly rights, although no competing banks were formed in Iowa
during the period the insurance plan was in operation.
INSURANCE OF BANK OBLIGATIONS IN S IX STATES
T a b le 3 3.
63
P r in c ip a l P r o v is io n s o f B a n k -O b lig a tio n I n s u r a n c e
P l a n s A d o p t e d b y S ix S t a t e s ,
Assessments; size of fund
1829-1858— Continued
Payment of bank creditors
Annually 1/2 of 1 % of capital stock to maximum
of 3 % . If fund reduced, annual assessment not
to exceed above rate until fund restored to
maximum
After completion of liquidation of failed bank
Annually 3 /4 of 1 % of capital stock to maximum
of 4-1/2% . If fund reduced, annual assess
ments not to exceed above rate until fund
restored to maximum
After completion of liquidation of failed bank
No specific
necessary
Within one year after failure, if liquidation pro
ceeds and stockholder contributions insufficient
amount;
special
assessments
as
Annually 1 /2 of 1% of capital stock to maximum
of 3 % . If fund reduced annual assessments not
to exceed above rate until fund restored to
maximum
After completion of liquidation of failed bank
Single assessment prior to opening of bank: 10%
of amount of circulating notes. Thereafter
assessments at above rate applicable only to
additional circulating notes, if any, issued by
bank
Immediately, through special assessments on
solvent Branch Banks. Assessments to be
repaid from insurance fund, and fund repaid
from proceeds of liquidation of assets of failed
bank
Single assessment prior to opening of bank:
1 2 -1/2% of amount of circulating notes. There
after assessments at above rate applicable only
to additional circulating notes, if any, issued
by bank
Immediately, through special assessments on
solvent Branch Banks. Assessments to be
repaid from insurance fund and fund repaid
from proceeds of liquidation of assets of failed
bank
4 Free banks, which were authorized in 1851, did not participate in insurance. In 1842 participating
banks were authorized under specified conditions to withdraw from insurance.
5 Branch Banks were essentially independent banks which possessed their own officers, distributed
earnings to their own stockholders, and which collectively constituted the “State Bank” in these States.
With the appearance of “ Free Banking” , which provided bond security
for circulating notes, the original intent of including all banks in the
insurance systems was dropped. Free Banks authorized in New York
in 1838, in Ohio and Vermont in 1851, in Indiana in 1852, and in Iowa in
1858, were not included in the respective insurance systems. Only
Michigan, which adopted New York’s free banking law in 1837, before
it had passed the New York legislature and while inclusion of Free Banks
in the insurance system was still being considered, specifically required
that the new banks become part of the insurance system.
Table 34 shows the maximum number of banks participating in
insurance in each of the six States and the obligations insured at such
times. It will be noted that the proportion of banks insured ranged from
a little more than 50 percent in two States to 100 percent in one State.
Percentagewise, participation was higher during earlier years in some
States, since it was not until after the appearance of Free Banks that the
number of insured banks reached a maximum.
64
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 3 4. M a x im u m N u m b er of B a n k s P a r t ic ip a t in g in
I n su r a n c e S yst em s , S i x St a t e s , 1829-1866
State
New York.................
Verm ont..................
Indiana......................
Michigan...................
Ohio...........................
Iowa...........................
Year or years
during which
number of
participating
banks was at
a maximum
1840
1841-48
1857-64
1837
1850
1864
Participating banks
Number
91
13
204
476
41
15
Obligations insured at or
near time of maximum
participation1
Percent of
all banks2
Amount
(in
thousands)
57.2%
72.23
52.65
83.9
71.9
$32,346
1,936s
7,816s
1,4037
8,407
1,440
100.0
Percent of
all such
obligations
72.8%
69.9
78.2
59.0
76.0
100.0
1 New York, Vermont, Michigan and Indiana, circulating notes plus deposits: Ohio and Iowa,
circulating notes only. See note 7 for explanation of Michigan data.
3 Excludes private banks.
3 Data as of August 1847.
4 Branch Banks of Bank of State of Indiana. Branch Banks of State Bank of Indiana, 1834-1856,
numbered 13 at maximum, all of which were insured.
5 Data for November 15, 1862. Deposits include individual and interbank deposits plus certificates
of deposit.
6 Estimated number in operation near end of year.
7 Circulating notes only (estimated). Deposit information not sufficiently complete for estimation.
Types o f insurance systems. Insurance of bank obligations during
this period was provided by three methods: 1) establishment of an
insurance fund, commonly referred to at the time as a “ Safety Fund” ,
2) a requirement that insured banks mutually guarantee each other’s
obligations, and 3) a combination of the first and second. Reliance upon
an insurance fund alone was the case in New York, Vermont, and Michi
gan. As indicated in Table 33, the fund was established through assess
ments levied on capital stock of participating banks, reflecting the
relationship between capital and bank obligations previously noted.
Expenses incurred in administering the insurance systems, including
salaries and expenses of Bank Commissioners, were charged against
the funds.
While New York’s insurance system was spreading to Vermont and
Michigan, Indiana developed an alternative plan in 1834. It required
that all participating banks mutually guarantee the liabilities of a failed
insured bank. This obligation became effective when a failure occurred,
and no provision was made for an insurance fund.
Insurance systems adopted by Ohio in 1845 and Iowa in 1858 ap
parently reflected a conscious desire to incorporate the essential portions
of the two types, with major reliance on the Indiana precedent. As
shown in Table 33, protection for bank creditors in Ohio and Iowa rested
essentially upon the mutual guaranty provision, w^ith the insurance fund
available for reimbursement of the contributing banks. This was probably
due in part to the fact that Indiana’s system had proved highly successful
by 1845, while difficulties had been encountered in New York, and in
Michigan the fund had been exhausted.
INSURANCE OF BANK OBLIGATIONS IN SIX STATES
65
The method of meeting expenses connected with administration of
the Ohio and Iowa systems also followed that of Indiana, in that it was
accomplished through special assessments on insured banks rather than
through charges on the fund. In each of the five States having insurance
funds, custody of the fund was given to the supervising authority, but
ownership, directly or indirectly, remained with the banks.
Method of paying creditors of failed banks. Immediate payment
of insured obligations was effectively provided for in only two of the
six States during this period. The systems of Ohio and Iowa provided
that the necessary funds would be made immediately available through
special assessments levied on the sound participating banks in proportion
to their note circulation.
This represented an improvement over systems adopted earlier. In
New York, Vermont, and Michigan, creditors had to wait until liquida
tion of the failed bank had been completed, and the deficiency determined,
before receiving payment from the insurance fund. Indiana required
that its insurance plan become operative if liquidation of the assets of
the failed bank proved insufficient to meet the claims of bank creditors
within one year.
Termination of the insurance funds. Five of the six State in
surance systems in operation during this first period terminated in 1866
when most of the participating banks voluntarily converted to national
banks. This action did not stem from dissatisfaction with the insurance
systems, some of which had been highly successful, but rather from the
fact that in 1865 a prohibitive tax upon State banknotes was levied
by the Congress. In the sixth State, Michigan, the insurance system
terminated about 1842 as a consequence of exhaustion of the fund.
G uaranty
by
the
of
C ir c u l a t in g B a n k n o t e s
F ederal G overnm ent
Although the majority of insurance systems adopted before 1860 had
proved successful, almost a half century passed before insurance of bank
obligations was again attempted by any State. This was not due to a
decline in interest by the States in securing a stable and safe circulating
medium, but rather to the fact that in 1863 the Federal Government
acted to provide this protection through establishment of the national
banking system.
As noted previously, circulating notes issued by individual banks
constituted an important portion of the circulating medium at that time.
When, in 1865, Congress placed a prohibitive tax upon the notes of State
banks, those of national banks remained the only circulating banknotes.
These notes were guaranteed by the United States Treasury and their
66
FEDERAL DEPOSIT INSURANCE CORPORATION
safety was unquestioned. Consequently, so long as they maintained
their relative importance in the circulating medium there seemed to be
no necessity for further development of insurance of bank obligations.
The national banking system was essentially an extension on a national
scale of the free banking systems established earlier in many States.
That is, subject to certain restrictions, banking was open to all persons
who qualified under the law and note issues were secured by the posting
of collateral, in this case United States bonds. However, one important
difference between the State systems and that adopted by the Federal
Government was that the primary guaranty for the notes was the credit
of the Government rather than the value of the posted collateral.
Holders of notes of a failed national bank were to be paid immediately
and in full by the United States Treasury regardless of the then existing
value of the bonds posted and whether or not any difficulty was en
countered in disposing of the bonds.1As the Comptroller of the Currency
stated in his first report to Congress:
If the banks fail, and the bonds of the government are depressed
in the market, the notes of the national banks must still be redeemed
in full at the treasury of the United States. The holder has not only
the public securities but the faith of the nation pledged for their
redemption.2
Insurance
of
Bank D
e p o s it s
in
E ig h t S t a t e s ,
1907-1930
It was apparently not foreseen early in the 1860’s that deposits, rather
than circulating notes, would come to constitute by far the largest portion
of the nation’s circulating medium. In 1860 the two items were about
equal in amount. By 1870 deposits were about twice, and by the end of
the century seven times, circulating notes. It was against this setting
that efforts were renewed to guard against the disastrous effects of the
destruction of circulating medium through bank failures and to provide
a greater degree of protection for bank creditors.
The adoption of State deposit insurance programs between 1907 and
1917 was also a consequence of difficulties many of the States were meeting
in attempting to provide for stable banking systems. It will be noted in
Table 32 that seven of the eight States involved were located west of
the Mississippi River. Problems similar to those of New York, Vermont,
and Ohio a half century earlier were current. Consequently it is not
surprising that State legislators turned to insurance of bank obligations,
although in this instance insurance related only to bank deposits. Table
35 summarizes the principal provisions of the plans adopted by the
eight States.
1 12 Stat. 672.
* First Annual Report of the Comptroller of the Currency, November 28, 1863.
INSURANCE OF BAN K DEPOSITS IN EIGHT STATES
67
Obligations insured. Insurance protection in the eight States did
not extend to obligations of the banks other than deposits. The typical
provision inserted in the laws to prevent such an application of the
insurance fund was a statement that the law would not apply to a bank’s
obligation as an endorser upon bills re-discounted, nor to bills payable,
nor to money borrowed by the bank. In all of the States, however, it
proved difficult to distinguish borrowings from deposits, and numerous
cases were brought before the courts for decision.
In seven of the eight States full coverage was provided for the in
dividual depositor from the beginning. In the eighth, Kansas, the law
as first passed provided 100 percent coverage for demand deposits but
applied to savings deposits only up to $100 per person. This limitation
was removed two years later.
Demand deposits otherwise unsecured were covered by the insurance
systems in all eight States. Time and savings deposits otherwise unsecured
were covered in whole in five States—Oklahoma, Nebraska, Mississippi,
South Dakota and North Dakota, and also in Kansas after the first two
years. In Texas, the guaranty was limited to non-interest-bearing de
posits. In Washington the guaranty law applied to all deposits in com
mercial banks, but did not apply to mutual savings banks. At the time
there was one such bank, holding about one-sixth of the savings deposits
of all banks organized under the State laws.
Protection of time and savings deposits was accompanied in all cases
by limitations on the rate of interest, with deposits bearing interest at
rates higher than those prescribed barred from guaranty. In most cases
the limits to the rate of interest were to be prescribed by the banking
supervisor or guaranty commission, with the proviso that the rate
established must be uniform within any one county.
Membership. In two States, Kansas and Washington, membership
in the guaranty plan was voluntary, in the remaining six States com
pulsory. In Mississippi, however, the plan was voluntary during the
first year; and in Texas the banks had the option of joining the guaranty
fund or of depositing bonds or other securities with the Commissioner
of Insurance and Banking.
Banks were generally required to undergo special examinations prior
to admission, presumably with the intention, except in the two States
with voluntary membership, of forcing weak banks to liquidate or to
improve their financial condition. For the most part, however, these
examinations appear to have been perfunctory. Except in Mississippi,
inadequate time was allowed for making examinations; and supervisory
officials doubtless were reluctant to close banks which they had pre
viously permitted to remain in operation.
68
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 35.
P r i n c i p a l P r o v is i o n s o f D e p o s i t I n s u r a n c e
P la n s A d o p ted by E ig h t S ta t e s ,
1907-1917
Deposits insured
Banks participating1
Oklahoma
Act of 19083
as amended or
modified 1909,
1911, 1913
All deposits not otherwise secured and on
which rate of interest was within limits
specified by law
Compulsory for all State banks
and trust companies
Kansas
Act of 1909
as amended or
modified 1911,
1921, 1923
All deposits not otherwise secured and on
which rate of interest was within limits
specified by law
Voluntary for all incorporated
State banks. Trust com
panies and private banks
excluded. Banks organized
after passage of Act eligible
to apply after operating one
year
Nebraska
Act of 1909
as amended or
modified 1911
All deposits except money deposited on a
collateral agreement or condition other
than an agreement for length of time to
maturity and rate of interest
Compulsory for all incorpo
rated State banks
Texas
Act of 1909
as amended
or modified
1921, 1923
Non-interest-bearing deposits not otherwise
secured. Excluded public deposits, secured
deposits, certificates of deposit, deposits
made for the purpose of converting a loan
into a deposit covered by the fund, certifi
cates of deposit converted to non-interestbearing deposits within 90 days of failure
All State chartered banks re
quired to choose between
guaranty fund system or
bond security system
Mississippi
Act of 1914
All deposits not otherwise secured nor
bearing interest exceeding 4 % per annum
Voluntary until May 15, 1915.
Thereafter compulsory for
all banks operating under
State law including trust
companies and savings banks
South Dakota
Act of 1915
as amended or
modified 1921
All deposits not otherwise secured. Deposits
could not pay interest in excess of 5%
unless authorized by depositors guaranty
fund commission and in no case, more
than 5-1/2 % per annum
Compulsory for all State and
private banks
North Dakota
Act of 1917
as amended
or modified 1923
All deposits not otherwise secured and on
which interest was within limits specified
by law
Compulsory for every corpora
tion in business of receiving
deposits or buying and sell
ing exchange except national
banks
Washington
Act of 1917
as amended or
modified 1921
Deposits subject to check or other forms of
withdrawal and not otherwise secured.
Payment of interest at rates higher than
authorized by guaranty fund board sub
jected bank to loss of insurance
Voluntary for all State banks
including trust companies
but excluding mutual sav
ings banks
State
1 National banks were prohibited from participating in State insurance plans by ruling in July 1908
of Attorney General of the United States.
2 In terms of percentage of average daily insured deposits for preceding calendar year, unless other
wise noted. Excludes initial payments or contributions where applicable.
Table 36 shows the maximum number of banks participating in each
of the eight insurance programs and the amount of deposits in insured
banks at the time of such participation. Except in Oklahoma the number
of insured banks reached a peak in the post-World War I boom years.
Cessation of the rapid rate of growth in number of banks in the early
1920*s coupled with an increasing number of bank failures and, in several
States, withdrawals from the insurance system or conversions to national
banks resulted in a decline in the number of insured banks beginning
about 1921.
INSURANCE OF BANK DEPOSITS IN EIGHT STATES
T a b le 3 5.
69
P r in c ip a l P r o v is io n s o f D e p o s it In s u r a n c e
P la n s A d o p ted b y E ig h t S ta t e s ,
1907-1917— Continued
Assessment on insured deposits2
Payment of depositors
Annually 1/5 of 1 % until fund equaled 2 % of
base. If fund reduced, special assessments^ t
same rate annually4
In cash by Bank Commissioners immediately
upon taking possession of bank. If fund in
sufficient, in 6 percent certificates of indebted
ness to be paid in order of issue. After 1913
certificates sold at not less than par for purpose
of securing cash for depositors
Annually 1/20 of 1 % of base less capital and
surplus until fund equaled $1 million. If fund
reduced below $500,000 special assessment for
amount necessary
In interest-bearing certificates of indebtedness,
reduced as proceeds of liquidation become
available. Deficiency, if any, paid from fund
Semi-annually 1/20 of 1 % until fund equaled
1 -1 /2 % of base. If fund reduced below 1%
assessment renewed and special assessments if
necessary not to exceed 1% of base in any
one year
In cash from fund immediately after determina
tion by the court of amount due depositors less
cash immediately available to the receiver for
such payments
Annually 1 /4 of 1% of base until fund equaled
$5 million. If fund reduced below $2 million,
or below level of preceding January 1, special
assessments not to exceed 2 %
In cash immediately, out of cash in failed banks
and fund
Annually 1/20 of 1 % of “ average guaranteed
deposits” , less capital and surplus until fund
approximated $500,000 over and above initial
contribution. If fund depleted, special assess
ments at same rate not to exceed five in any
one year
In interest bearing certificates of indebtedness,
reduced as proceeds of liquidation become
available. Deficiency, if any, paid from fund
Annually 1 /4 of 1% until fund equaled 1 -1 /2 %
of base. Resumed whenever fund reduced to
1% of base
In cash immediately from fund. If fund de
ficient, Commissioner to issue certificates of
indebtedness at 5 % and not to exceed 7% if
sold to secure cash for depositors
Annually 1/20 of 1 % until fund equaled 2 % of
base. If fund reduced to 1 -1 /2 % of base,
assessments resumed. Special assessments at
same rate at option of Bank Commissioners,
not to exceed four per year
In cash from fund after certification of net
amounts due depositors. If fund deficient, in
certificates of indebtedness
Annually 1/10 of 1 % until fund equaled 3 % of
base. If fund reduced, special assessments not
to exceed 1/2 of 1% in any one year
In warrants on fund issued on proof of claim; if
fund deficient warrants to bear 5% interest
until paid
3 The banking laws of Oklahoma were codified, revised and re-enacted May 25, 1908, with little
change in guaranty law.
4 Special assessments in addition to regular annual assessment authorized 1914-1916.
None of the eight State deposit guaranty systems included national
banks, though in five States the law authorized their participation.
However, such provisions were inoperative as a consequence of a ruling
by the Comptroller of the Currency in 1908 forbidding such action by
national banks.
At the time of maximum participation, insured banks constituted
more than half the banks in each of seven States and in five of these
States were more than three-fourths of all banks. However, insured
banks, on the average, were smaller than noninsured banks. This is
70
FEDERAL DEPOSIT INSURANCE CORPORATION
reflected in Table 36 by the fact that in none of the States was the per
centage of deposits held by insured banks as high as the proportion of
banks participating in insurance.
Table 36.
M a x im u m N u m b e r o f B a n k s P a r t i c i p a t i n g in
D e p o s it In su ra n c e , E ig h t S ta te s ,
State
Oklahoma.................
Kansas.......................
Nebraska..................
Texas.........................
Mississippi................
South Dakota..........
North Dakota.........
Washington..............
Year during
which number
of participating
banks was
at a
maximum
1911
1922
1921
1921
1921
1921
1920
1921
Participating banks1
Number
695
714
1,011
1,014
309
566
720
116
1908-1930
Deposits of participating banks
at or near time of
maximum participation1
Percent of
all banks2
Amount*
(in
thousands)
75.2%
52.0
84.3
58.1
90.9
80.6
80.6
29.1
$ 61,309
185,989
272,256
319,346
144,528
174,231
151,531
74,859
Percent of
deposits in
all banks
50.7%
43.3
57.8
32.6
77.8
67.0
66.4
19.5
1 For dates nearest beginning of indicated years.
2 All banks include national, State, and private banks, regardless of eligibility for insurance under
the various laws. Excludes trust companies not regularly engaged in deposit banking except for Okla
homa. Dates of data for various categories of uninsured banks used in computing percentages are not
identical in some instances with dates of insured bank data.
* Exceeds insured deposits because of inclusion of uninsured items described in Table 35.
Assessments and the insurance fund. There was considerable
variation in the rate of assessment and in the size of the guaranty fund
contemplated in the various States. The rates of regular and special
assessments, as modified after a few years of operation in some of the
States, are shown in Table 35. All rates are given in terms of percentages
of the deposits covered by the law and in nearly all cases were computed
on the average daily amount for the preceding calendar year. All eight
States made special provision for initial assessments in the case of new
banks, with the amount in most cases fixed at a small percentage of the
capital stock, to be adjusted according to the average daily deposits
after a year’s operation.
Two general methods of custody of funds were used: (1) Retention
by the respective banks in the form of deposits subject to withdrawal by
order of the administrative agency of the fund; and (2) collection by the
administrative agency of the fund or the State treasurer, with funds not
needed immediately to be invested along with other State funds or in
accordance with special provisions. Details of carrying out these two
general methods varied from State to State.
In Oklahoma the fund was at first collected by the Bank Commissioner,
and in 1909 it was provided that 75 percent was to be invested in State
warrants or other securities specified for State funds, the remaining
25 percent to be kept in cash (that is, deposited in banks along with other
INSURANCE OF BANK DEPOSITS IN EIGHT STATES
71
State funds). Two years later, after a large part of the fund had been
tied up by the failure of the bank in which it was deposited, it was pro
vided that the assessments were to be immediately re-deposited in the
respective banks, with the banks issuing certificates of deposit to the
Bank Commissioner bearing four percent interest. In 1913, the law was
changed so that assessments were to be paid by cashier’s check to be
held by the Banking Board until it was necessary to collect them. They
were to bear no interest.
In Nebraska, South Dakota, and North Dakota, the assessments
levied were left with the bank, subject to call of the guaranty commission
on demand. In Texas 75 percent of the payments were to be held as
demand deposits credited to the State Banking Board and subject to
its check; the remaining 25 percent to be paid to the State Banking Board
and deposited with the State treasurer.
In Kansas and Mississippi the assessments were to be paid to the
State treasurer and placed in depository banks, subject, respectively,
to the call of the Bank Commissioner and of the bank examiners. In
Washington the board in charge of the fund was given broad powers in
designating guaranteed banks as depositories of the fund.
Method of paying depositors. In two States, Kansas and Mississippi,
the depositors in a failed bank, upon proof of claim to a deposit covered
by the guaranty, were to be given interest-bearing certificates. As the
assets of the failed bank were liquidated, dividends were paid on these
certificates; and after these assets had all been collected, including the
liability of stockholders, the balance was paid from the fund. These
certificates in both States carried six percent interest, except that where
a contract rate existed on the deposit the certificate bore interest at that
rate. In Kansas the legislature passed a law in 1925 abolishing the interest,
both on the certificates to be issued in the future and those then out
standing, but the State Supreme Court declared the elimination of
interest on outstanding certificates to be unconstitutional. It was provided
in Mississippi that if the fund were insufficient to pay the depositors,
they were to be paid pro rata, and the remainder paid from subsequent
assessments.
In the remaining six States it was contemplated that the depositors
would be paid at once in cash. In Texas the law provided that any amount
due depositors that could not be paid at once from the cash in the failed
bank was to be paid from the fund. In Nebraska the amount due de
positors was to be determined by the Court and immediately drawn
from the fund, with no provision for procedure if the fund was insufficient.
However, in this case the procedure in fact was the same as in those
States where certificates of indebtedness were specifically authorized.
72
FEDERAL DEPOSIT INSURANCE CORPORATION
In Oklahoma, South Dakota, and North Dakota, the depositors were
to be paid at once from the guaranty fund. In all three States the law
provided that if the fund were insufficient interest-bearing certificates of
indebtedness were to be issued. In Oklahoma and North Dakota these
were made payable out of the first money accruing to the fund; in South
Dakota, due and payable on the first day of the next March. In the
remaining State, Washington, warrants were to be issued to each holder
of a guaranteed deposit, upon proof of claim, payable out of the fund.
These were presumably to be presented immediately, and were to carry
interest only if funds were insufficient to pay them, in which event five
percent until called.
Termination of the insurance funds. Bank failures during the
1920,s and early 1930’s resulted in the termination of the deposit in
surance systems in the eight States. However, proposals in the Congress
for nationwide insurance of bank deposits, which had begun as early
as 1886, continued during the 1920’s, and in the early 1930 s were given
new impetus as a consequence of the large number of bank failures.
Thus the series of events which forced the last of the eight State plans
to cease operations, and which culminated in the banking holiday of
1933, was the principal factor in the enactment of Federal deposit
insurance.
PART FOUR
LEGISLATION AND REGULATIONS
F e d e r a l Le g is l a t io n
A M E N D M E N T T O T H E F E D E R A L D E P O S IT IN S U R A N C E A C T
P u b lic L a w 533— 82 d C o n g r e ss *
C h a p te r 725— 2 d S essio n
H. R. 5120
AN ACT
To amend the Federal Deposit Insurance Act so as to require the insurance of deposits
payable at branches of insured banks in Puerto Rico.
Be it enacted by the Senate and House of Representatives of the United States of America
in Congress assembledy That in order to insure more adequate protection of Puerto
Rican depositors by terminating the right of any insured bank, having its principal
place of business in any of the States of the United States or in the District of Columbia
which maintains a branch in Puerto Rico, to elect to exclude from insurance under
the Federal Deposit Insurance Act its deposit obligations which are payable only
at such branch, section 3 (1) of the Federal Deposit Insurance Act, as amended
(12 U. S. C. 1813 (1)), is hereby amended by striking out “ Puerto Rico,” from the
second proviso thereof.
Approved July 14, 1952.
* 66 Stat. 605; 12 U .S.C. 1813 (1).
AMENDMENT TO THE NATIONAL BANK CONVERSION ACT
P u b lic L a w 515— 82 d C o n g r ess *
C h a p te r 696— 2 d S essio n
S. 2252
AN ACT
To clarify the Act of August 17, 1950, providing for the conversion of national banks
into and their merger and consolidation with State banks.
Be it enacted by the Senate and House of Representatives of the United States of America
in Congress assembled, That section 4 of the Act entitled “ An Act to provide for the
conversion of national banking associations into and their merger or consolidation
with State banks, and for other purposes” , approved August 17, 1950 (12 U. S. C.
214c), is amended by striking out the words “as provided by Federal law” at the end
of the section and substituting the words “ under limitations or conditions no more
restrictive than those contained in section 2 hereof with respect to the conversion
of a national bank into, or merger or consolidation of a national bank with, a State
bank under State charter” .
Approved July 12, 1952.
* 66 Stat. 590; 12 U .S.C . 214c.
75
76
FEDERAL DEPOSIT INSURANCE CORPORATION
NATIONAL BANK MERGER ACT
P u b l i c L a w 530— 82 d C o n g r e s s *
C h a p te r
722— 2 d
S.
S e s s io n
2128
AN ACT
To provide for the merger of two or more national banking associations and for the
merger of State banks with national banking associations, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America
in Congress assembled, That the Act entitled “An Act to provide for the consolidation
of national banking associations” , approved November 7, 1918, as amended (U. S. C.,
title 12, secs. 33, 34, and 34a), is hereby amended by adding at the end thereof new
sections 4 and 5 to read as follows:
“ S e c . 4.
(a) One or more national banking associations or one or more State
banks, with the approval of the Comptroller, under an agreement not inconsistent
with this Act, may merge into a national banking association located within the same
State, under the charter of the receiving association.
“ (b) The merger agreement shall—
“ (1) be agreed upon in writing by a majority of the board of directors of
each association or State bank participating in the plan of merger;
“ (2) be ratified and confirmed by the affirmative vote of the shareholders of
each association or State bank owning at least two-thirds of the capital stock
outstanding, at a meeting to be held on the call of the directors, after publishing
notice of the time, place, and object of the meeting for four consecutive weeks
in a newspaper with general circulation in the place where the association or
State bank is located, and after sending such notice to each shareholder of record
by registered mail at least ten days prior to the meeting, except to those share
holders who specifically waive notice;
“ (3) specify the amount of the capital stock of the receiving association which
will be outstanding upon completion of the merger, the amount of stock (if any)
to be allocated, and cash (if any) to be paid to the shareholders of the association
or State bank being merged into the receiving association; and
“ (4) provide the manner of disposing of any shares of the receiving association
not taken by the shareholders of the association or State bank merged into the
receiving association.
“ If a merger shall be voted for at the call meetings by the necessary majorities
of the shareholders of each association or State bank participating in the plan of
merger, any shareholder of any association or State bank to be merged into the
receiving association who has voted against the merger at the meeting of the share
holders, or has given notice in writing at or prior to the meeting to the presiding
officer that he dissents from the plan of merger, shall be entitled to receive the value
of the shares held by him if and when the merger shall be approved by the Comptroller.
The value of the shares shall be ascertained, as of the date of the meeting of the
shareholders of the association or State bank approving the merger, by an appraisal
made by a committee of three persons, composed of (i) one selected by the vote of
the holders of a majority of the stock, the owners of which are entitled to payment
in cash; (ii) one selected by the directors of the receiving association; and (iii) one
selected by the two so selected. The valuation agreed upon by any two of the three
appraisers shall govern. If the value so fixed shall not be satisfactory to any dissenting
shareholder who has requested payment, that shareholder may, within five days
after being notified of the appraised value of his shares, appeal to the Comptroller,
* 66 Stat. 599-601; 12 U .S.C. 34b and 34c.
FEDERAL LEGISLATION
77
who shall cause a reappraisal to be made which shall be final and binding as to value
of the shares of the appellant. If, within ninety days from the date of consummation
of the merger, for any reason, one or more of the appraisers have not been selected,
or the appraisers have failed to determine the value of the shares, the Comptroller,
upon written request of any interested party, shall cause an appraisal to be made
which shall be final and binding on all parties. The expenses of the Comptroller in
making the reappraisal or the appraisal, as the case may be, shall be paid by the
receiving association. The value of the shares ascertained shall be promptly paid to
the shareholders by the receiving association, and the shares so paid for shall be
surrendered to and cancelled by the receiving association. The provisions of this
paragraph shall apply only to shareholders of and stock owned by them in a bank
or association being merged into the receiving association.
“ (c) The corporate existence of the merging association or State bank shall be
merged into that of the receiving association. All rights, franchises, and interests of
the merging association or State bank in and to every type of property (real, personal,
and mixed) and choses in action shall be transferred to and vested in the receiving
association by virtue of such merger without any deed or other transfer. The re
ceiving association, upon the merger and without any order or other action on the
part of any court or otherwise, shall hold and enjoy all rights of property, franchises,
and interests, including appointments, designations, and nominations, and all other
rights and interests as trustee, executor, administrator, registrar of stocks and bonds,
guardian of estates, assignee, receiver, committee of estates of lunatics, and in every
other fiduciary capacity, in the same manner and to the same extent as such rights,
franchises, and interests were held or enjoyed by any merging association or State
bank at the time of the merger, subject to the conditions hereinafter provided.
“ Where any merging association or State bank, at the time of the merger, was acting
under appointment of any court as trustee, executor, administrator, registrar of stocks
and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics,
or in any other fiduciary capacity, the receiving association shall be subject to removal
by a court of competent jurisdiction in the same manner and to the same extent as
was the merging association or State bank prior to the merger. Nothing contained
in this section shall be considered to impair in any manner the right of any court to
remove a receiving association and to appoint in lieu thereof a substitute trustee,
executor, or other fiduciary, except that such right shall not be exercised in such a
manner as to discriminate against national banking associations, nor shall any re
ceiving association be removed solely because of the fact that it is a national banking
association.
“ (d) Any national banking association which is a receiving association may issue
stock, with the approval of the Comptroller and in accordance with law, to be delivered
to the shareholders of a merging State bank or national banking association as provided
for by a merger agreement, free from any preemptive rights of the shareholders of
the receiving association.
“ Sec.
5.
As used in this Act the term—
“ (1) ‘State bank’ means any bank, banking association, trust company,
savings bank (other than a mutual savings bank), or other banking institution
which is engaged in the business of receiving deposits and which is incorporated
under the laws of any State, or which is operating under the Code of Law for
the District of Columbia (except a national banking association located in the
District of Columbia);
“ (2) ‘State’ means the several States, the several Territories, Puerto Rico,
the Virgin Islands, and the District of Columbia;
“ (3)
‘Comptroller’ means the Comptroller of the Currency; and
“ (4)
‘Receiving association’ means the national banking association into which
78
FEDERAL DEPOSIT INSURANCE CORPORATION
one or more national banking associations or one or more State banks, located
within the same State, merge.”
S e c . 2. Section 3 of the Act of November 7, 1918, as amended (U. S. C., title 12,
sec. 34a), is amended by deleting the second paragraph thereof, which reads as follows:
“ The words ‘State bank’, ‘State banks’, ‘bank’, or ‘banks’, as used in this section,
shall be held to include trust companies, savings banks, or other such corporations
or institutions carrying on the banking business under the authority of State laws.”
Approved July 14, 1952.
AMENDMENT TO THE FEDERAL RESERVE ACT
543— 8 2 d
P u b lic L a w
C h a p te r
753— 2 d
S.
C on gress*
S e s s io n
2938
AN ACT
To amend section 9 of the Federal Reserve Act, as amended, and section 5155 of
the Revised Statutes, as amended, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America
in Congress assembled, That the eleventh paragraph of section 9 of the Federal Reserve
Act, as amended (U. S. C., title 12, sec. 329), is amended to read as follows:
“ No applying bank shall be admitted to membership unless it possesses capital
stock and surplus which, in the judgment of the Board of Governors of the Federal
Reserve System, are adequate in relation to the character and condition of its assets
and to its existing and prospective deposit liabilities and other corporate responsi
bilities: Provided, That no bank engaged in the business of receiving deposits other
than trust funds, which does not possess capital stock and surplus in an amount equal
to that which would be required for the establishment of a national banking associa
tion in the place in which it is located, shall be admitted to membership unless it is,
or has been, approved for deposit insurance under the Federal Deposit Insurance
Act. The capital stock of a State member bank shall not be reduced except with the
prior consent of the Board.”
Sec. 2. (a) The third paragraph of section 9 of the Federal Reserve Act, as amended
(U. S. C., title 12, sec. 321, third paragraph), is further amended by adding at the
end thereof a new sentence reading as follows: “The approval of the Board shall
likewise be obtained before any State member bank may establish any new branch
within the limits of any such city, town, or village (except within the District of
Columbia).”
(b)
Subsection (c) of section 5155 of the Revised Statutes, as amended (U. S. C.,
title 12, sec. 36 (c) ), is further amended by changing the last sentence of such sub
section to read as follows: “ Except as provided in the immediately preceding sentence,
no such association shall establish a branch outside of the city, town, or village in
which it is situated unless it has a combined capital stock and surplus equal to the
combined amount of capital stock and surplus, if any, required by the law of the State
in which such association is situated for the establishment of such branches by State
banks, or, if the law of such State requires only a minimum capital stock for the
establishment of such branches by State banks, unless such association has not less
than an equal amount of capital stock.”
Approved July 15, 1952.
* 66 Stat. 633; 12 U .S.C. 329, 321, 36(c).
RULES AND REGULATIONS OF THE CORPORATION
R ules
and
79
R e g u l a t io n s O f T h e C o r p o r a t io n
Effective July 1, 1952, Section 329.3(c) is amended to read as follows:
(c)
Grace periods in computing interest on savings deposits. An insured non-member
bank may pay interest on a savings deposit received during its first ten business days
of any calendar month commencing a regular quarterly or semi-annual interest
period and during its first five business days of any other calendar month at the
applicable maximum rate prescribed pursuant to paragraph (a) of this section calcu
lated from the first day of such calendar month until such deposit is withdrawn or
ceases to constitute a savings deposit under the provisions of this part, whichever
shall first occur; and an insured non-member bank may pay interest on savings deposits
withdrawn during its last three business days of any calendar month ending a regular
quarterly or semi-annual interest period at the applicable maximum rate prescribed
pursuant to paragraph (a) calculated to the end of such calendar month.
St a t e B a n k in g L e g is l a t io n
In 1952 the legislatures of sixteen States held regular sessions and six of these
legislatures held special sessions. The legislatures of four other States held special
sessions.
This summary includes the more important State banking legislation enacted in
1952.
s u p e r v is o r y
a u t h o r it y
Examination fees...................................................................................... Michigan (Act 144)
Examination of banks at least twice in eighteen months, instead of twice a year. .
.................................................................................................................. Maryland (Ch. 50)
Salaries of supervisory authority and examiners............................ Mississippi (Ch. 181)
o r g a n i z a t io n
and
charter
changes
Incorporation of trust companies and granting of trust powers to existing corporations
subject to approval of Superintendent of Banks..............................Georgia (Act 780)
Branch offices and agencies....................New Jersey (Chs. 179; 220); Virginia (Ch. 75)
Merger and consolidation......................................................................New York (Ch. 316)
Conversion of industrial bank to State bank................................... New York (Ch. 545)
Authorization for national banks to become State banks by conversion, merger or
consolidation.............................................................................................................................
........... Kentucky (Ch. 222); Illinois (Secs. 12a-b, Banking Act); Virginia (Ch. 466)
Authorization for State banks to become national banks by conversion, merger or
consolidation as provided by Federal law.........................................................................
.................................................... Kentucky (Ch. 222); Illinois (Sec. 13a, Banking Act)
GENERAL OPERATING PROVISIONS
Rental of safety deposit boxes.................................................... South Carolina (Act 773)
Stock dividends.....................................................................................New Jersey (Ch. 144)
Payment of extra dividends and additions to guaranty fund by savings banks. .. .
........................................................................................................ Massachusetts (Ch. 161)
Retention and destruction of records and admission in evidence of photographs of
bank records............................................... Mississippi (Ch. 184); New York (Ch. 790)
Final adjustment of statements of account of bank with its depositors...................
.............................................................................................................. Mississippi (Ch. 185)
Rebates of interest taken in advance required upon prepayment of instalment loan. .
............................................................................................................. New Jersey (Ch. 248)
80
FEDERAL DEPOSIT INSURANCE CORPORATION
Payment of deposits of deceased depositor.............................................................................
..................................... Georgia (Act 777); Louisiana (Act 539); New York (Ch. 824)
Deposit of and security for public funds... .Kentucky (Ch. 221); Virginia (Ch. 514)
Limitations on deposits of savings banks with depositaries. . .......................................
........................................................ Massachusetts (Ch. 186); Rhode Island (Ch. 3013)
School savings deposits......................................................................... New York (Ch. 546)
LOANS
Modification of real estate loan limitation. .New Jersey (Ch. 113); Virginia (Ch. 25)
Open end real estate mortgages................................................... Rhode Island (Ch. 3018)
Limit of liability of borrowers....................................................................Virginia (Ch. 23)
Instalment selling and financing of automobiles................................................................
........................................................................... Colorado (H.B. 65); Michigan (Act 103
INVESTMENTS
Limitation on investment in bank shares.................................... Pennsylvania (Act 557)
Investment in Federal Farm Loan Bonds..............................................................................
................................................................ Louisiana (Act 133); South Carolina (Act 744)
Car parking facility for bank customers with consent of supervisory authority. .. .
.................................................................... Mississippi (Ch. 182); New Jersey (Ch. 179)
Savings bank investments:
Dominion of Canada bonds............ Massachusetts (Ch. 607); New Jersey (Ch. 140)
FHA mortgages............................................................................Massachusetts (Ch. 194)
Banking premises........................................................................ Massachusetts (Ch. 160)
Federal, State, county and municipal securities........................New Jersey (Ch. 278)
Preferred, guaranteed and common stock of corporations and stock of registered
investment companies...................New York (Ch. 705); Rhode Island (Ch. 3019)
Obligations for which the faith of a State is pledged...................New York (Ch. 24)
Bonds and mortgages on real property in adjacent States. .. .New York (Ch. 761)
trust
a c t iv i t i e s
Investments by fiduciaries.........................................................................................................
...............New Jersey (Ch. 280); South Carolina (Acts 782, 783); Virginia (Ch. 196)
Ascertainment of principal and income in estates and trusts.. .New Jersey (Ch. 156)
Investment of common trust funds.................................................... New York (Ch. 215)
Maximum participation in common trust fund in the investment of small trust funds
........................................................................................................ Massachusetts (Ch. 209)
MISCELLANEOUS
Authority to refuse payment of checks one year after date... .Mississippi (Ch. 183)
Saturday holiday in cities of certain population.................................... Virginia (Ch. 56)
Dissolution and liquidation of savings banks............................Massachusetts (Ch. 534)
Repeal of shareholders liability for bank obligations........................................................
........................................................................ Illinois (H.J. Res. 15, 1951, adopted 1952)
Taxation of State and national banks.....................................................................................
........................................ Colorado (H.B. 86); Georgia (Act 587); Michigan (Act 182)
Uniform Trust Receipts Act.................................................................... Michigan (Act 19)
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
N u m b e r , O f f ic e s , a n d
D e p o s it s o f O p e r a t in g B a n k s
Table 101.
Changes in number and classification of operating banks and branches in the United
States (continental U. S. and other areas) during 1952
Table 102.
Number of operating banks and branches in the United States (continental U. S.
and other areas), December 31, 1952
Grouped according to insurance status and class of bank, and by State and type
of office
Table 103. Number of commercial banks operating branches and number of branches in the
United States (continental U. S. and other areas), June 30, 1952
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
Table 104. Number of operating banking offices of commercial banks in the United States
(continental U. S. and other areas), June 30, 1952
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
Table 105.
Number and deposits of operating banks in the United States (continental U. S.
and other areas), December 31, 1952
Banks grouped according to insurance status and by district and State
The line of demarcation between banks and other types of financial
institutions is not always clear. In these tables provision of deposit
facilities for the general public is the chief criterion. However, trust
companies engaged in general fiduciary business though not in deposit
banking are included; and credit unions and savings and loan associa
tions are excluded except in the case of a few which accept deposits
under the terms of special charters.
The tabulations for all banks and trust companies are prepared in
accordance with an agreement among the Federal bank supervisory
agencies. Deposit data are tabulated from individual reports of assets
and liabilities of the banks included. Institutions included are classified
in three groups: commercial and stock savings banks, nondeposit
trust companies, and mutual savings banks. However, the second
category does not apply to insured banks.
Commercial and stock savings banks include the following
categories of banking institutions:
National banks;
Federal Reserve banks and other banks, such as the Federal Home
Loan banks and the Savings and Loan Bank of the State of New
York, which operate as rediscount banks and do not accept deposits
except from financial institutions;
The postal savings system.
BANKS
Institutions chartered under banking or trust company laws, but
operating as investment or title insurance companies and not en
gaged in deposit banking or fiduciary activities;
OPERATING
Nondeposit trust companies include institutions operating under
trust company charters which are not regularly engaged in deposit
banking but are engaged in fiduciary business other than that incidental
to real estate title or investment activities.
Branches of foreign banks, and private banks, which confine
their business to foreign exchange dealings and do not receive
“ deposits” as that term is commonly understood;
OF
Private banks under State supervision, and such other private
banks as are reported by reliable unofficial sources to be engaged
in deposit banking;
Morris Plan companies, industrial banks, loan and investment
companies, and similar institutions except those mentioned in the
description of institutions included;
DEPOSITS
Special types of banks of deposit: cash depositories in South
Carolina; cooperative exchanges in Arkansas; savings and loan
companies operating under Superior Court charters in Georgia;
government operated banks in American Samoa, North Dakota,
and Puerto Rico; a cooperative bank, usually classified as a credit
union, operating under a special charter in New Hampshire; two
savings institutions, known as “trust companies,” operating under
special charters in Texas; employes’ mutual banking associations in
Pennsylvania; the Savings Banks Trust Company in New York; and
four branches of foreign banks which engage in a general deposit
business in the continental United States or in Puerto Rico.
Building and loan associations, savings and loan associations,
credit unions, personal loan companies, and similar institutions,
chartered under laws applying to such institutions or under general
incorporation laws, regardless of whether such institutions are au
thorized to accept deposits from the public or from their members
and regardless of whether such institutions are called “banks” (a
few institutions accepting deposits under powers granted in special
charters are included);
AND
Industrial and Morris Plan banks which operate under general
banking codes, or are specifically authorized by law to accept de
posits and in practice do so, or the obligations of which are regarded
as deposits for deposit insurance;
Banks which have suspended operations or have ceased to accept
new deposits and are proceeding to liquidate their assets and pay
off existing deposits;
OFFICES,
Stock savings banks, including guaranty savings banks in New
Hampshire;
Institutions excluded. Institutions in the following categories are
excluded, though such institutions may perform many of the same
functions as commercial and savings banks:
N U M BER ,
Incorporated State banks, trust companies, and bank and trust
companies, regularly engaged in the business of receiving deposits,
whether demand or time, except mutual savings banks;
Mutual savings banks include all banks operating under State
banking codes applying to mutual savings banks.
T a b le 101.
in
C hanges
the
in
N
umber
and
C l a s s i f i c a t io n
U n i t e d St a t e s ( C o n t in e n t a l U .
S.
of
and
O p e r a t in g B a n k s
Oth er A reas)
and
Non
In
sured insured Total
Mutual savings banks
Noninsured
Insured
Total
00
Commercial and stock savings banks
and nondeposit trust companies
All banks
Type of change
B ranches
1952
d u r in g
Members F. R.
System
National
State
Non
Not
mem Banks deposit
trust
of de
bers
com
posit
F. R.
panies
System
Total
Non
In
sured1 insured
FEDERAL
Total
Net change during year.
972
1,004
14,088
14,132
13,439
13,455
4,909
4,939
1,886
1,898
6,644
6,618
584
612
-44
-12
-32
-4 4
-16
-3 0
-12
+26
-28
15
15
4
4
43
42
7
5
2
38
20
44
11
71
67
4
115
1
62
61
1
102
9
6
3
13
1
2
99
13
Insured bank becoming noninsured.
Termination of insured status...............
Noninsured bank becoming insured..............................
Successions to noninsured banks........................................
Admissions to insurance, operating banks4.....................
Admissions to F . R . System................................................
71
67
4
115
1
62
61
1
102
’'2
2
20
93
7
6
6
-1
-1
+1
+1
-1
-1
-1
-1
+29
+ 5
+24
-29
-5
-24
+25
+5
+20
+25
+ 5
99
13
+4
1
122
12
2
124
13
2
1
120
12
17
206
202
+4
1
6
+1
+1
+20
-2 5
-5
-2 0
+ 3
+1
+0
+1
+12
-12
-9
+9
+ 1
2
126
13
2
529
529
323
327
36
93
7
Other changes in classification.........................................
State banks succeeding national banks............................
Admissions to F . R . System................................ ..............
Withdrawals from F . R . System with continuance of
insurance...............................................................................
Change in corporate powers.................................................
Changes not involving num ber in any class:
Successions (including 1 with FD IC aid)3. ......................
Change in title, location, or name of location................
Change in corporate powers...............................................
Temporarily closed or operating under restrictions.. ..
1
65
65
+ 4
+ 4
CO R PO R ATIO N
Banks ceasing operations........................ .............................
Suspended bank not reopened or succeeded...................
Merged with financial aid of F D IC 3.............. .. ...........
Absorptions, consolidations and mergers (without FDIC
aid)...........................................................................................
Other liquidations...................................................................
13,645
13,657
INSURANCE
Banks beginning operations..............
New banks..............................................
Other additions to operating banks2.
14,617
14,661
DEPOSIT
BANKS
N um ber of banks, December 31, 1952.
N um ber of banks, December 31, 1951.
BRANCHES
N um ber of branches, December 31, 1952.
N um ber of branches, December 31, 1951.
N et change during year.............................................................
Branches discontinued 6............................................................
5,663
5,322
170
172
5,587
5,264
5,486
5,157
2,556
2,370
1,550
1,467
1,380
1,320
99
106
+339
+341
-2
+323
+329
+ 186
+83
+60
-7
362
34
84
4
240
349
32
83
4
230
13
342
34
84
3
176
27
48
84
75
3
221
335
32
83
3
217
101
57
59
23
20
+ 12
+1
+2
19
18
5
+12
+ 15
+5
-8
+1
+2
+1
+2
+9
+9
+ 15
+6
-2
+2
-1
11
2
+9
-6
69
65
+1
1
+ 16
+ 12
+4
20
14
6
67
392
392
4
1
-12
-1
-2
+2
+1
-1 7
AND
Changes not involving num ber in any class:
Branches transferred as result of absorption or succession.
Change in title, location, or name of location,* including
facilities....................................................................
Change in powers................................. .*!! ! * . ! ! ! ! ! ! ! ! ! ! ! !
10
2
1
24
177
165
OFFICES,
Other changes in classification am ong branches.........
Facilities of noninsured banks admitted to insurance.. . .
Branches of noninsured banks admitted to insurance.. . .
Noninsured branches of insured banks becoming insured7
Branches of insured banks admitted to F. R. System. . . .
Branches of insured banks withdrawing from F. R . System
with continuance of insurance............................................
Branches transferred as result of absorption or succession
Sale of branch to another bank..............................................
2
1
246
230
NUMBER,
Branches opened for business............................................
Facilities provided as agents of the government6............
Absorbed banks converted into branches..............................
Branches replacing banks relocated or placed in liquidation
Other branches opened...........................................................
5,833
5,494
15
15
15
130
127
126
N um ber of offices, December 31, 1952
N um ber of offices, December 31, 1951..........
20,450
20,155
19,308
18,979
1,142
1,176
19,675
19,396
18,925
18,612
7,465
7,309
3,436
3,365
8,024
7,938
683
718
66
775
759
383
367
N et change during year..................................
+71
+86
-3 5
+1
+ 16
+ 16
20
14
2
1
2
DEPOSITS
15
131
1
ALL B A N K IN G OFFICES
+ 279
+ 313
+ 156
22
9
13
413
71
342
397
62
335
191
15
176
Offices closed.
Banks............
Branches.. . .
138
115
23
122
102
20
16
13
3
134
115
19
120
102
43
38
5
Changes in classification.
Among banks......................
Among branches................
+40
+28
+ 12
-40
-28
-12
18
+36
+24
+12
+8
-7
+15
88
118
43
75
26
51
44
7
+9
+4
+5
+ 19
+27
4
84
20
6
-8
3
12
11
1
-36
-24
-12
2
1
2
2
+4
+4
Includes 3 mutual savings banks members of the" Federal Reserve System, December 31, 1952, and December 31, 1951.
st
financial institutions becoming banks of deposit, and 2 noninsured industrial banks previously in operation but not included in count as of December 31,1951.
In addition, 1 insured nonmember bank was succeeded by another insured nonmember bank with financial aid of FD IC.
4 Banks m operation at beginning of year.
®Facilities established in or near military installations at request of the Treasury or the Commanding Officer of the installation,
includes ^ branches discontinued prior to beginning of year but included in count as of December 31, 1951.
Branches in Puerto Rico of national banks in New York which became insured by Public Law 533, 82nd Congress, approved July 14, 1952.
BANKS
-34
411
62
349
OPERATING
+329
433
71
362
OF
+295
Offices opened.
Banks..............
Branches.........
00
Cm
Table 102.
N
umber
of
O p e r a t in g B a n k s
( C o n t i n e n t a l U . S.
and
B ranches
and
O t h e r A r e a s ), D
in
ecem ber
U n it e d Sta t e s
th e
31, 1952
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF B AN K, AND B Y STATE AND TYPE OF OFFICE
Commercial and stock savings banks
and nondeposit trust companies
All banks
Insured
State and type of bank or office
In
sured
Non
insured TotalJ
Total
State
l,6b5
2bl
1,550
Continental United S ta tes............... 20,288
All banks................................................. 14,575
Unit banks.......................................... 13,020
1,555
Banks operating branches................
Branches.................................................. 5,713
19,231
13,628
12,1 b8
1,U80
5,603
1,057 19,513
947 14,046
872 12,615
l,b S l
75
110 5,467
18,848
13,422
12,020
l,b02
5,426
7,465
4,909
b,b61
bb8
2,556
162
42
26
16
120
77
17
6
11
60
259
229
221
8
30
259
229
221
8
30
85
14
6
8
71
83
13
6
7
70
252
230
210
20
246
224
20b
20
85
25
20
5
60
120
77
17
6
11
60
259
229
221
8
30
259
229
221
8
30
100
85
14
6
8
71
83
13
6
7
70
51
3
1
2
48
252
230
210
20
246
224
20b
20
55
53
51
2
22
22
162
42
26
16
3,436
1,886
3,436
1,886
l,6b5
2bl
1,550
All
Com Mutual
In
Non
banks
sured2 insured of de mercial savings
banks
banks
posit
8,024
6,644
5,920
72b
1,380
683
584
552
32
99
67
65
63
2
2
775
529
b-05
12b
246
383
206
128
78
177
392
323
277
b6
69
94.7
93.8
93.6
95.0
97.1
96.5
95.8
95.6
97.8
98.2
49.4
38.9
31.6
62.9
72.0
7,947
6,627
5,91b
713
1,320
603
564
537
27
39
62
60
58
2
2
775
529
b05
12 b
246
383
206
128
78
177
392
323
277
b6
69
95.1
93.9
93.7
95.3
98.1
96.9
96.0
95.7
98.1
99.3
49.4
38.9
31.6
62.9
72.0
77
17
6
11
60
80
15
5
60
5
5
5
49.0
45.9
28.6
68.8
50.0
49.0
45.9
28.6
68.8
50.0
20
State
Alabam a
....................
All banks
....................
Unit banks
Banks operating branches
Branches
Arizona
All banks
Unit banks
Banks operating branches
Branches
Arkansas
All banks
Unit banks
Banks operating branches
Branches
•
•
.
22
22
2
1
1
1
6
6
6
71
6b
7
29
2
25
24
23
1
134
134
13b
1
7
2
25
8
1
1
5
u
A
17
16
16
16
175
155
137
18
20
100.0
100.0
100.0
100.0
100.0
100.0
2
1
100.0
100.0
100.0
100.0
1
100.0
100.0
100.0
100.0
100.0
100.0
98.0
97.8
97.6
100.0
98.0
97.8
97.6
100.0
100.0
100.0
1
5
5
5
100.0
100.0
100.0
100.0
1
1
1
CORPORATION
7,465
4,909
b,b61
bb8
2,556
Total
INSURANCE
1,142 19,675 118,925
972 14,088 13,439
892 12,6bl 12,026
1 ,bl3
80
1 ,bb7
170
5,587 : 5,486
Not
Non
mem Banks deposit
trust
of de
bers
F. R.
posit
com
System
panies
DEPOSIT
National
19,308
13,645
12,15b
1,U91
5,663
Other areas
All banks
Unit banks
Banks operating branches
Branches
Noninsured
Members F. R.
System
20,450
14,617
13,0b6
Banks operating branches................ 1,571
Branches.................................................. 5,833
Insured banks
as percentages of
banks of deposit1
FEDERAL
Total
Mutual savings banks
7
1
1
1
Colorado...................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
165
160
155
5
5
153
148
1U3
5
5
165
160
155
5
5
153
148
11*3
5
5
80
77
7U
3
3
18
17
16
1
55
54
53
1
12
12
1
1
C onnecticut............................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
263
184
155
29
79
168
99
75
180
163
95
72
23
77
48
37
11
29
43
15
9
6
28
43
32
26
6
16
16
16
Delaware...................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
69
37
28
9
32
64
35
28
7
29
11
11
17
3
35
3
20
1
31
63
34
27
7
29
3
14
16
A
15
District of C olum bia...........
All banks................................
Units banks.......................
Banks operating branches
Branches................................
67
19
67
19
67
19
67
19
15
48
15
48
15
48
15
48
F lorida.......................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
223
213
203
219
209
199
223
213
203
219
209
199
G eorgia......................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
455
403
383
Id a h o .........................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
102
Illin o is.......................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
897
894
891
3
U
10
10
20
52
40
81
9
62
2U
U
10
10
112
89
23
66
35
27
8
4
10
10
392
341
322
19
51
455
403
383
101
39
30
102
9
62
886
883
880
3
3
20
52
40
31
9
62
897
894
891
3
68
U
10
10
392
341
322
19
51
101
39
30
9
62
886
883
880
3
11
35
9
1
8
26
72
64
56
8
18
6
2
U
10
136
134
132
2
86
52
U2
10
34
65
12
7
5
53
389
386
383
3
3
83
72
66
6
11
5
4
3
1
1
3
1
2
1
1
1
1
2
1
1
78
68
63
5
10
2
1
1
1
99.8
99.0
99.3
98.0
99.9
92.7
92.5
92.3
100.0
100.0
92.7
92.5
92.3
100.0
100.0
64.1
54.1
1+8.7
82.8
87.3
91.1
85.6
81.8
92.8
94.6
100.0
77.8
90.6
100.0
14
4
1
3
11
11
8
1
1
1
11
12
11
12
99.8
99.0
99.3
98.0
99.9
100.0
100.0
100.0
100.0
2
2
2
2
2
2
2
25
14
9
5
281
275
271
u
63
62
61
1
11
6
1
13
9
7
2
4
23
18
16
2
5
1
125
125
125
372
372
372
86.2
84.6
81>.l
95.0
98.1
1
1
8
8
8
99.1
99.1
99.0
100.0
100.0
99.0
97.5
96.8
100.0
100.0
3
3
3
99.1
99.1
99.1
100.0
100.0
100.0
100.0
95.5
97.1
100.0
6.0
5.6
h.5
16.7
9.1
33.3
50.0
100.0
87.5
93.5
100.0
100.0
100.0
1 00.0
100.0
99.1
99.1
99.0
100.0
100.0
86.2
84.6
8A.1
95.0
98.1
99.0
97.5
96.8
100.0
100.0
99.1
99.1
99.1
100.0
100.0
BANKS
8
1
1
OPERATING
9
2
OF
3
70
51
19
52
DEPOSITS
193
27
15
12
166
AND
908
92
73
19
816
JW
OFFICES,
1,223
189
139
50
1,034
1,235
199
NUMBER,
1,235
199
11*7
52
1,036
122
52
1,036
1,223
189
139
50
1,034
C alifornia.................................
All banks................................
Unit banks.........................
Banks operating branches
Branches............................
00
T a b le 1 0 2.
N u m b e r o f O p e r a t i n g B a n k s a n d B r a n c h e s in t h e
( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , D e c e m b e r
U n ite d S ta t e s
31, 1952— Continued
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE
Commercial and stock savings banks
and nondeposit trust companies
All banks
Insured
Total
In
sured
Non
insured Total
Noninsured
Members F. R.
System
Total
National State
291
235
196
39
56
7
1
1
59
56
53
3
3
828
665
5UU
121
163
769
609
U91
118
160
97
97
97
64
64
6h
608
448
330
118
160
58
55
52
3
3
476
474
U72
2
2
135
135
135
611
609
607
2
2
476
474
U72
2
2
176
174
172
2
2
41
41
U1
259
259
259
135
135
135
437
380
352
28
57
419
362
S3U
28
57
18
18
18
437
380
352
28
57
419
362
33U
28
57
116
91
86
5
25
32
271
251
233
18
16
16
16
Louisiana
..............................
All banks
..............
Unit banks
Banks operatinQ branches
. .
Brsnchcs
............................
256
167
12 U
US
89
255
166
123
A3
89
1
1
12
20
255
166
123
us
89
82
37
25
12
45
24
1
256
167
12 U
US
89
149
117
92
25
32
Maine ................. ............................. ..
All banks
......................................... ..
Unit banks.......... ................................
Banks operatinQ branches
Branches
...............
177
96
69
27
81
135
63
U2
21
72
42
33
27
6
9
144
64
38
26
80
127
55
3U
21
72
45
32
25
7
13
35
599
474
U09
65
125
10
1
Iowa
.
.....................................
All banks
Unit banks
...................
Banks operatinQ branches ..............
Branches
.........................................
828
665
5U
121
163
769
609
U91
118
160
Kansas
.........................................
All banks
................. ..
Unit banks
............... ..
Banks operatinQ branches................
Branches
............. ...........................
611
609
607
2
2
Kentucky
.........................................
All banks
,
.................................
Unit banks
• ...........
Banks operatinQ branches................
Branches
...............................
134
112
22
20
15
5
12
6
6
12
6
2
A
29
47
17
7
10
30
9
8
2
2
2
4
4
U
All
Com Mutual
In
Nonbanks
sured2 insured of de mercial savings
banks
banks
posit
3
3
3
1
1
1
1
1
1
2
2
2
1
1
1
17
9
u
5
33
32
31
1
8
1
8
8
8
25
24
23
1
1
98.4
98.1
98.1
98.5
99.2
98.5
98.3
98.3
98.5
99.2
93.0
91.7
90.U
97.5
98.2
[93.0
|91.7
90.U
97.5
98.2
77.9
77.8
77.8
100.0
77.9
77.8
77.8
100.0
100.0
100.0
96.3
95.8
95.U
100.0
96.3
95.8
95. U
100.0
100.0
100.0
99.6
99.4
99.2
100.0
99.6
99.4
99.2
100.0
100.0
100.0
76.3
65.6
60.9
77.8
88.9
85.9
89.5
80.8
90.0
88.2
75.0
75.0
75.0
CORPORATION
171
124
10u
20
47
611
485
U19
66
126
Total
INSURANCE
596
471
U06
65
125
106
6
1
607
481
U15
66
126
Non
Not
mem Banks deposit
of de
trust
bers
posit
F. R.
com
System
panies
DEPOSIT
12
11
Unit banks..........................................
Banks operatinQ branches
.........
Branches
.........................................
Insured banks
as percentages of
banks of deposit1
FEDERAL
State and type of bank or office
Mutual savings banks
24.2
25.0
25.8
M aryland....................................
All banks...............................
Unit banks...........................
Banks operating branches.
Branches................................
325
165
in
ut
160
319
160
120
uo
159
6
5
h
1
1
298
156
120
86
142
295
154
119
85
141
82
59
50
9
23
72
14
8
6
58
141
81
61
20
60
2
1
1
1
214
114
91
28
100
104
25
7
18
79
20
2
690
412
8U
68
278
24
17
lh
8
7
714
429
858
71
285
690
412
8U
68
278
187
77
62
15
269
150
188
17
119
234
185
1U9
86
49
18
Branches................................
714
429
858
71
285
M inn esota..................................
686
671
665
668
2
15
15
15
685
679
677
2
670
664
662
2
184
178
176
2
28
28
28
458
458
U58
13
13
18
6
6
6
9
7
6
1
2
233
168
182
86
65
3
3
8
100
100
100
399
399
899
18
18
18
Branches................................
M ichigan ....................................
All banks...............................
Unit banks...........................
Banks operating branches.
All banks...............................
Unit banks...........................
Banks operating branches.
Branches................................
M ississippi.................................
All banks...............................
Unit banks...........................
Banks operating branches.
Branches................................
M issouri......................................
All banks...............................
Unit banks...........................
Banks operating branches.
680
678
2
6
275
202
168
89
73
272
199
160
89
73
3
3
8
577
576
575
1
22
22
22
163
89
73
275
272
199
160
89
73
30
24
22
2
599
598
597
1
577
576
575
1
78
77
76
1
202
6
1
1
1
109
109
109
109
109
109
109
109
109
109
109
109
38
38
88
45
45
U5
26
26
26
All banks...............................
Unit banks...........................
Banks operating branches.
419
417
U15
2
371
369
867
2
419
417
hi 5
2
371
369
867
2
126
124
122
2
16
16
16
229
229
229
Branches...............................
2
2
2
2
2
30
30
30
30
21
5
4
M o n ta n a .....................................
All banks...............................
Unit banks...........................
Banks operating branches.
6
6
6
2
1
1
1
1
2
1
1
2
4
4
4
59.8
47.0
58.2
78.3
97.6
96.1
95.2
98.1
99.0
97.5
97.4
97.7
95.8
97.5
97.5
97.4
97.7
95.8
97.5
98.1
98.1
98.1
100.0
98.1
98.1
98.1
100.0
100.0
100.0
98.9
98.5
98.2
100.0
98.9
98.5
98.2
100.0
100.0
100.0
97.0
97.0
97.0
100.0
97.0
97.0
97.0
100.0
100.0
100.0
AS.8
100.0
100.0
100.0
100.0
100.0
100.0
89.8
89.8
89.7
100.0
89.8
89.8
89.7
100.0
100.0
100.0
Branches...............................
Nebraska....................................
Nevada.........................................
All banks...............................
8
8
48
48
A8
8
8
Unit banks...........................
Banks operating branches.
8
5
8
5
8
5
8
5
Branches................................
22
22
22
22
5
2
8
16
1
1
4
2
42
42
U2
6
6
6
100.0
100.0
100.0
100.0
100.0
100.0
BANKS
1
Branches................................
8
8
7
241
188
151
87
53
88.9
66.7
25.0
100.0
OPERATING
599
598
597
1
1
6
110
11
99.3
99.4
100.0
97.2
99.3
OF
201
372
173
120
58
199
98.5
97.6
97.6
97.6
99.4
DEPOSITS
381
180
126
5h
3
3
8
AND
250
195
157
88
55
6
1
5
18
OFFICES,
372
173
120
58
199
Unit banks...........................
Banks operating branches.
24
NUMBER,
622
368
277
91
254
All banks...............................
27
9
u
5
18
241
188
151
37
53
9
7
6
1
54
34
22
12
M assachusetts..........................
1
1
1
100.0
100.0
1
1
100.0
100.0
100.0
100.0
2
100.0
100.0
00
CO
T a b le 1 02 .
N u m b e r o f O p e r a t in g B a n k s a n d B r a n c h e s in t h e U n i t e d S t a t e s
( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , D e c e m b e r
gro u p e d a c c o rd in g t o
in s u r a n c e s t a t u s an d c la s s o f b a n k , a n d b y s t a t e
Commercial and stock savings banks
and nondeposit trust companies
All banks
Non
In
sured insured Total
Members F. R.
System
Total
National
. ..........
........... ..
Banks operating branches................
1
534
335
267
68
199
530
331
263
68
199
74
51
37
U
23
74
51
37
U
23
1,709
734
5 US
189
975
1,697
725
538
187
972
483
226
153
ryq
/o
257
480
225
153
72
255
175
153
138
15
168
146
131
15
22
22
77
75
73
2
59
58
57
1
52
51
50
1
1
1
6
6
1
6
142
67
U6
21
75
64
41
31
10
23
9
2
1
1
4
4
u
501
312
250
62
189
497
308
2U6
62
189
291
169
31
91
74
51
37
n
23
74
51
37
n
23
31
26
22
U
5
7
1
1
34
17
8
9
17
12
9
7
2
3
1,468
604
U7U
ISO
864
1,456
595
U67
128
861
607
363
308
55
244
715
162
111
51
553
134
70
U8
22
64
3
483
226
153
73
257
480
225
153
72
255
77
46
31
15
31
42
9
3
6
33
361
170
119
51
191
175
153
138
15
168
146
131
15
40
40
ho
2
2
126
104
89
15
22
22
1
1
2
7
7
7
200
8
2
22
1
1
1
6
U
2
3
3
1
1
2
7
7
7
35
34
33
1
1
1
3
3
3
33
23
17
6
10
9
All
Com Mutual
In
Non
banks
sured2 insured of de mercial savings
banks
banks
posit
35
34
33
1
18
17
16
1
1
2
Total
3
3
3
33
23
17
6
10
241
130
71
59
241
130
71
59
111
111
52.7
53.2
53.8
33.3
33.3
76.6
77.3
78.1
50.0
50.0
99.8
99.7
99.6
100.0
99.8
99.7
99.6
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
99.5
99.2
99.3
98.9
99.7
99.4
99.0
99.2
98.5
99.7
99.4
99.6
100.0
98.6
99.2
99.4
99.6
100.0
98.6
99.2
96.0
95.4
9U.9
100.0
96.0
95.4
9U.9
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
C ORPORATION
A11 Vkot"iIra
Unit batiks
........
. . . .........
......
53
51
U9
2
State
Non
Not
Banks deposit
mem
trust
of de
bers
com
posit
F. R.
panies
System
INSURANCE
Mato TPf*QPV
All Kiinlra
TTto'tf hn'rtlfQ
59
58
57
2
Insured banks
as percentages of
banks of deposit1
DEPOSIT
112
109
106
3
3
Mutual savings banks
FEDERAL
Total
an d ty p e o f o f f ic e
Noninsured
Insured
State and type of bank or office
CD
O
31, 1952— Continued
7
7
7
922
651
58U
67
271
915
644
577
67
271
332
238
21U
2U
94
322
179
160
19
143
261
227
203
99.2
98.9
98.8
100.0
34
100.0
100.0
O klahom a................................
All banks................................
Unit banks.........................
Banks operating branches.
Branches.................................
387
385
9
9
9
387
385
383
2
2
378
376
37U
2
200
88S
2
2
378
376
374
2
2
198
196
2
25
25
25
153
153
153
98.2
98.2
98.2
2
2
98.2
98.2
98.2
100.0
100.0
180
69
56
13
178
67
5U
13
2
2
2
179
177
21
10
8
2
11
47
37
99.4
98.5
98.2
100.0
100.0
247
217
199
18
30
111
111
Pennsylvania..........................
All banks................................
Unit banks.........................
Banks operating branches
Branches.................................
1,225
947
858
89
278
1,204
930
8U
86
274
Rhode Islan d ..........................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
81
21
11
10
60
53
13
111
111
109
19
16
3
90
21
17
U
3
4
1,196
940
855
i 85
;256
1,175
923
8U1
82
252
763
607
559
U8
156
165
99
83
16
70
15
8
7
55
11
6
67
13
5
8
54
62
16
35
15
15
15
3
3
5
68
66
66
2
10
6
U
6
52
U
2
10
33
213
149
128
21
64
198
134
113
21
64
71
25
17
8
46
10
8
6
2
2
28
28
28
10
11
2
South Carolina......................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
213
149
128
64
198
134
113
21
64
South D ak o ta.........................
All banks................................
Unit banks.........................
Banks operating branches
Branches.................................
222
222
222
222
170
1US
27
52
170
1U3
27
52
170
1US
27
52
170
1U3
27
52
58
35
31
U
23
Tennessee.................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
410
297
262
35
113
403
290
255
35
113
7
7
7
410
297
262
35
113
403
290
255
35
113
137
74
61
13
63
24
14
36
Texas..........................................
All banks................................
Unit banks.........................
Banks operating branches
Branches.................................
933
919
90.4
15
14
891
877
862
15
14
42
42
U2
933
919
90k
15
14
891
877
862
15
14
458
444
U29
15
14
137
137
137
296
296
296
4
3
U
22
4
14
11
3
2
15
15
15
8
6
2
6
29
7
3
U
22
8
5
U
1
3
100.0
100.0
100.0
100.0
100.0
98.5
98.5
98.7
96.6
98.6
98.5
98.5
98.7
96.5
98.4
100.0
100.0
100.0
87.5
75.0
80.0
70.0
91.7
93.9
83.3
100.0
75.0
96.3
57.1
62.5
66.7
50.0
50.0
93.0
89.9
88.3
100.0
93.0
89.9
88.3
100.0
100.0
100.0
100.0
16
i 100.0
136
107
81,
23
29
100.0
100.0
100.0
100.0
100.0
100.0
100.0
242
206
186
99.0
98.6
98.5
100.0
100.0
99.0
98.6
98.5
100.0
100.0
BANKS
10
8
2
29
7
99.4
98.5
98.1
OPERATING
21
117
101
90
11
18
14
100.0
100.0
OF
55
13
100.0
100.0
100.0
DEPOSITS
O regon.......................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
2U
99.2
98.9
98.8
100.0
AND
918
647
580
67
271
OFFICES,
925
654
587
67
271
NUMBER,
O h io ............................................
All banks................................
Unit banks.........................
Banks operating branches
Branches................................
95.5
95.4
95.k
95.5
95.4
95.U
20
42
42
U2
100.0
100.0
100.0
100.0
100.0
100 .0
100.0
T a b le 1 02 .
N u m b e r o f O p e r a t i n g B a n k s a n d B r a n c h e s in t h e U n i t e d S t a t e s
( C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r
31, 1952— Continued
g r o u p e d a c c o r d in g t o in s u r a n c e s t a t u s an d c la s s o f b a n k , a n d b y s t a t e
Commercial and stock savings banks
and nondeposit trust companies
All banks
Insured
Total
In
Non
sured insured Total
Total
Unit banks..........................................
Banks operating branches................
Branches .............................................
89
55
U7
8
34
78
67
59
8
77
94
74
65
9
93
73
6U
9
20
20
11
443
315
254
61
128
1
1
1
31
10
31
21
9
1
17
4.
21
10
1
1
1
11
41
37
34.
3
4
443
315
254
61
128
186
133
110
23
53
90
71
60
11
19
22
66
58
8
100.0
100.0
27
24
21
3
3
1
1
35
28
23
5
7
1
443
315
25U
61
128
443
315
254
61
128
W ash in gto n ..............................................
All b a n k s...............................................
Unit banks..........................................
Banks operating branches................
Branches...............................................
286
103
18
165
283
118
100
18
165
3
3
8
279
117
100
17
162
276
114
97
17
162
180
35
25
10
145
16
1U
2
6
11
W est Virginia..........................................
Ail banks .............................................
Unit banks
................................
Banks operating branches................
Branches ...............................................
182
182
182
178
178
178
4
4
4,
182
182
182
178
178
178
74
74
7U
35
35
35
69
69
69
4
4
U
W isconsin..................................................
All banks.................................................
Unit banks..........................................
Banks operating branches................
Branches ...............................................
708
557
U66
91
151
698
548
U58
90
150
10
704
553
462
91
151
695
545
455
90
111
75
70
67
3
5
509
380
298
82
129
5
u
1
9
8
1
1
150
95
90
5
16
16
7
6
1
9
16
7
6
1
9
167
V irginia......................................................
All banks ...............................................
Unit banks..........................................
Banks operating b r a n c h e s .............
Branches ...............................................
121
All
Com Mutual
Non
In
banks
sured2 insured of de mercial savings
banks banks
posit
111
84
27
56
74
63
58
5
3
3
3
6
1
7
4
3
1
3
3
3
3
4
4
4
7
4
3
1
3
3
3
3
1
1
1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
99.0
97.5
97.1
100.0
98.9
97.4
97.0
100.0
100.0
100.0
100.0
100.0
100.0
97.8
97.8
97.8
97.8
97.8
97.8
99.0
98.9
98.9
98.9
99.3
99.1
99.1
99.1
98.9
99.3
100.0
100.0
75.0
75.0
75.0
CORPORATION
89
55
U7
8
34
Total
INSURANCE
V e rm o n t....................................................
All banks.................................................
Unit banks..........................................
Banks operating branches
. ..
Branches............................................. ..
89
55
47
8
34
89
55
U7
8
84
Not
Non
mem Banks deposit
of de
trust
bers
F. R.
posit
com
System
panies
DEPOSIT
......................................................
Insured banks
as percentages of
banks of deposit1
Noninsured
Members F. R.
System
National State
U tah
Mutual savings banks
FEDERAL
State and type of bank or office
and ty p e o f o ffic e
W yom in g....................................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
52
52
52
52
52
52
29
19
16
7
8
u
9
24
24
2U
15
15
15
100.0
100.0
13
13
18
100.0
100.0
100.0
100.0
Other areas
55.2
36.8
2 1.h
80.0
90.0
55.2
36.8
21.U
80.0
90.0
5.7
50.0
100.0
33.3
5.7
50.0
100.0
83.3
2.0
2.0
4
2
2
4
87.5
63.6
50.0
714
92.5
87.5
63.6
50.0
71.h
92.5
1
1
66.7
50.0
66.7
50.0
13
12
11
1
1
1
1
1
58
3
2
1
1
1
3
50
2
2
1
1
1
*
48
3
Panam a C anal Zone5............
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
4
DEPOSITS
Mariana Islands5..............
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
5
5
5
3
OF
56
7
2
5
49
Virgin Islands7.........................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
2
1
2
1
1
1
100.0
100.0
1
1
100.0
100.0
8
1
1 Percentages are based on totals for all banks, excluding nondeposit trust companies.
2 Includes 3 banks members of the Federal Reserve System: 1 in Indiana and 2 in Wisconsin.
3 Includes 5 insured national banks, not members of the Federal Reserve System.
4 Includes, among noninsured banks 1 national bank operating 21 branches.
6 Includes noninsured branches of insured banks in continental United States: 3 in Mariana Islands (2 in Guam and 1 in Saipan), and 4 in Panama Canal Zone.
8 Of the 49 branches of insured banks, 9 are branches of national banks in New York.
7 Includes, among insured banks not members of the Federal Reserve System, 1 national bank operating 1 branch.
Back figures: See the Annual Report for 1951, pp. 130-137, and earlier reports.
BANKS
56
7
2
5
49
OPERATING
4
Puerto R ic o ...............................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches®.................................
AND
Hawaii4........................................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
16
7
8
U
9
OFFICES,
Am erican S a m o a ....................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches...................................
n
5
10
1
1
1
NUM BER,
Alaska’ .........................................
All banks..................................
Unit banks...........................
Banks operating branches.
Branches..................................
Table 103.
N
umber
of
B
ranches
in
N
the
umber
of
C o m m e r c ia l B a n k s O p e r a t i n g B r a n c h e s
U n it e d St a t e s
(C o n t i n e n t a l
U.
S.
and
and
O t h e r A r e a s ), J u n e
30, 1952
0
BAN KS OPERATING BRANCHES GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM AND BRANCHES GROUPED
ACCORDING TO LOCATION OF BRANCH AND B Y POPULATION OF CENTER IN W H ICH LOCATED AND STATE
Number operating branches
Within
head
office
city2
Within
head
office
county
Within
head
office
State3
Branches (except at military establishments)
Total
number
At military
of
establish
branches
ments
only5
Outside
head
office
State4
In
head
office
city
Elsewhere
in head
office
county
Elsewhere
in head
office
State
Branches
at
military
establish
ments6
Outside
head
office
State
360
630
337
7
73
5,415
2,272
1,301
1,621
21
200
1,393
359
630
327
6
71
5,301
2,260
1,285
1,556
8
192
Other a r e a s ......................................
14
1
10
1
2
114
12
16
65
13
8
In centers with population o f Less than 250.......................................
250 to 1,000.........................................
1,000 to 5,000......................................
5,000 to 25,000....................................
27
154
313
267
110
1
99
218
147
1
7
42
749
869
720
4
24
77
67
484
344
229
42
260
498
412
2
117
107
62
24
46
14
621
729
917
500
286
587
795
498
138
19
194
116
99
3
7
3
State
Alabama................................................
Arizona
...........................................
Arkansas
.
........................
California..............................................
Colorado...............................................
286
218
102
40
20
86
7
53
72
60
59
50
23
13
1
1
2
23
14
1
3
20
200
8
6
19
51
4
1
2
2
15
12
22
1
4
4
3
15
1
68
21
4
1,017
4
Connecticut..........................................
Delaware...............................................
District of Columbia .....................
Florida.................................................
Georgia..................................................
20
6
10
9
15
3
15
3
10
20
8
1
1
8
Idaho......................................................
Illinois...................................................
Indiana..................................................
Iowa.......................................................
K an sa s.................................................
9
3
63
3
6
20
42
87
16
18
122
2
2
4
3
30
62
26
47
9
3
3
1
35
2
10
51
62
3
121
164
2
1
3
2
200
7
15
12
247
7
18
17
119
32
3
618
33
15
8
10
14
43
4
3
1
33
4
8
1
4
9
7
1
14
4
5
52
1
60
57
2
2
29
3
121
43
2
CORPORATION
25,000 to 100,000................................
100,000 to 500,000.............................
500,000 to 2,500,000..........................
2,500,000 or more..............................
Not available8......................................
1
INSURANCE
1,407
Continental United S tates.........
DEPOSIT
T otal United States1..........................
FEDERAL
State or other area,
or population of center
Total
number
of banks
operating
branches1
11
13
2
18
4
6
30
21
10
11
Michigan.............
Minnesota..........
Mississippi.........
Missouri..............
Montana.............
70
16
2
2
38
3
Nebraska............
Nevada...............
New Hampshire.
New Jersey.........
New Mexico
2
5
2
60
14
New York...........
North Carolina.
North Dakota. .
Ohio.....................
Oklahoma...........
1
11
2
77
142
194
45
13
59
117
14
28
32
31
69
35
19
263
177
51
' 24
’ 10*
71
2
2
1
21
13
21
40
Oregon...............
Pennsylvania. .
Rhode Island. .
South Carolina.
South Dakota..
15
80
8
19
27
3
35
Tennessee.
Texas.........
Utah..........
Vermont. .
Virginia. ..
34
14
7
12
18
'‘3
"2
’ 27
12
Washington...
West Virginia.
Wisconsin. . . .
Wyoming........
17
1
5
8
57
91
4
38
8
31
3
3
14
5
60
39
30
11
102
77
7
850
247
657
51
120
1
107
241
55
59
51
10
4
10
13
1
3
16
25
14
109
13
33
46
11
22
4
2
14
182
23
258
33
22
174
76
21
15
70
17
7
126
19
12
1
60
21
29
5
2
59
143
11
5
15
20
’ 56
20
4
32
159
38
19
93
151
20
‘ 103
‘ 27
16
3
26
48
2
4
50
1
7
70
38
19
34
28
11
122
7
12
5
13
5
’ 14
7
.. „
35
1
1 Excludes noninsured trust companies not regularly engaged in deposit banking.
2 Includes 2 cases of cities which cover all or portions of 2 or more counties: New York (5 counties); and Atlanta (portions of 2 counties).
* Includes banks operating offices in 2 or more counties other than the cases listed in note 2.
4 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. Out-of-country branches are operated as follows: 1 bank in California
operates 2 branches in the Mariana Islands; 2 banks in New York operate 4 branches in the Panama Canal Zone and 9 branches in Puerto Rico; and 1 bank in Puerto Rico operates
2 branches in New York.
6 Banking offices in or near military, naval, or other defense establishments are operated by 127 banks, of which 54 also operate other branches.
« Includes 183 banking facilities, established at the request of the Treasury Department or commanding officer, and 17 other branches in or near military, naval, or other defense
establishments.
BANKS
Other area
Alaska..........................
Hawaii.........................
Mariana Islands........
Panama Canal Zone.
Puerto Rico................
Virgin Islands............
1
20
4
1
14
3
OPERATING
43
19
2
2
6
8
5
4
OF
128
69
15
64
6
1
2
9
31
38
4
DEPOSITS
37
4
86
AND
19
5
19
54
1
OFFICES,
28
40
25
37
54
NUMBER,
Kentucky...........
Louisiana............
Maine..................
Maryland...........
Massachusetts. . ,
CO
Ox
Table 104.
<0
o>
N
umber
of
O p e r a t i n g B a n k i n g O f f ic e s
(C o n t in e n t a l
grouped
a c c o r d in g
to
U.
number
S.
of
and
of
C o m m e r c ia l B a n k s
O t h e r A r e a s ), J u n e
c o m m e r c ia l
b a n k in g
in
th e
U n it e d St a t e s
30, 1952
o f f ic e s
in
center
in
w h ic h
LOCATED AND B Y TYPE OF OFFICE AND POPULATION OF CENTER IN W H ICH LOCATED
All
banking
offices1
Population of center
Insured banlCS
7 or 8
banking
offices
9 to 19
banking
offices
more
banking
offices
Members F. R.
System
000 tn 100 000
100 000 to 500 000
Knn nnn fn o koo ooo
O CAA Ann
TV)A1*A
...........
4,246
755
4,321
5,752
3,655
753
4,143
3,686
694
172
1,928
1,960
2
1,206
476
350
222
4
176
5
60
6
6
123
747
272
24
265
15
168
30
32
200
178
14
3
12,641
7,111
3,462
855
618
3,418
4,570
616
3,257
2,802
426
160
1,662
1,528
99
546
4
2
121
37
10
739
380
156
92
10
110
207
164
14
98
13
47
2,668
2
321
6
867
2,377
18
1,646
1,327
1,175
632
170
233
169
64
249
592
26
596
1,149
632
5
303
150
69
76
267
348
1
2
i
11
51
25
52
215
100
156
92
7,377
3,393
7,987
706
36
762
2,258
1,916
25
386
797
617
580
2,916
2,541
1,056
114
257
156
847
630
573
207
379
350
455
365
386
304
125
51
148
19
28
5
4,501
1,654
5,922
564
32
630
1,814
1,438
23
343
641
410
453
2,205
2,004
777
240
383
113
41
50
117
44
57
19
220
196
48
19
66
34
43
22
9
110
111
43
19
27
10
4
CORPORATION
In centers with population
of—
T /\mm
OCA
OK(\ fn 1
i nno fn k ooo
e nnn fn ok nnn
9,486
Non
insured
banks2
INSURANCE
9R 000 tn 100 000
100 000 to 500 000
Kno nno fA 9 ^nn ooo
9 KAA AAA at* m
Not available (at military estab-
19,463
State
Not
members
F. R.
System
DEPOSIT
6
4
5
3
1
2
banking banking banking banking banking banking
offices
offices
offices
offices
office
offices
20 or
National
All banking offices1..........................
In centers with population
of—
T AHH
OK
QEfA fA *1 AAA
1 nnn *a k non
c aah fA ok ooo
FEDERAL
Offices operated by—
Offices in centers with—
137
903
1,182
987
884
268
266
432
907
947
1,019
540
22
60
200
178
14
3
1,407
403
271
119
27
154
313
267
27
145
192
36
107
139
64
22
25.000 to 100,000.............................
100.000 to 500,000...........................
500.000 to 2,500,000........................
2.500.000 or more.............................
286
218
3
17
41
43
Branches...............................................
In centers with population
of—
Less than 250.....................................
250 to 1,000.......................................
1.000.to 5,000....................................
5.000 to 25,000..................................
5,415
110
110
749
869
720
25.000 to 100,000.............................
100.000 to 500,000...........................
500.000 to 2,500,000........................
2.500.000 or more............................
Not available (at military estab
lishments)1 .................................
25.000 to 100,000.............................
100.000 to 500,000......................... .
500.000 to 2,500,000......................
2.500.000 or more............................
Not available (at military estab
lishments)1.................................
351
173
200
153
12
5
24
5
201
55
3
23
114
4
108
167
121
157
600
2,029
137
886
*8
1
12
2
19
118
39
197
377
26
5
71
65
47
51
160
232
741
692
232
4
159
293
12
621
729
917
500
19
43
200
178
14
6
102
4
5
1
56
38
g
2
34
17
135
106
1
106
137
33
18
5
7
73
3
65
111
83
84
11
22
3
142
4
132
444
478
2
43
156
207
127
711
537
279
4
17
45
23
464
517
532
157
262
306
398
346
166
108
77
32
15
16
148
19
28
5
424
233
716
34
2
10
24
144
268
155
68
4
5
4
4
5
5
29
74
32
149
109
45
65
71
35
12
5
5
6
6
1
101
40
12
20
6
2
440
1,809
2,452
1,506
1,349
108
3
127
415
404
2
43
146
175
103
567
269
124
2
12
39
17
315
408
487
145
197
235
363
326
98
75
59
26
11
11
8
148
19
28
5
54
105
143
272
25
79
417
892
500
33
18
3
1 Excludes noninsured trust companies not regularly engaged in deposit banking.
2 Includes the following noninsured branches of insured national banks: 2 branches in Mariana Islands operated by a bank in California; 4 branches in Panama Canal Zone and
9 branches in Puerto Rico operated by 2 banks in New York.
3 Includes 183 banking facilities, established at the request of the Treasury Department or commanding officer, and 17 other branches in or near military, naval or other defense
establishments.
3
d
g
w
a
w
OPERATING
513
220
2,065
1
2
40
1,972
496
993
540
1,739
OF
1
102
10
8
2,876
DEPOSITS
Head offices of banks operating
branches...................................
In centers with population
of—
Less than 250.....................................
250 to 1,000.......................................
1.000.to 5,000....................................
5.000 to 25,000..................................
784
BANKS
2,375
AND
6,822
OFFICES,
All offices of banks operating
branches...................................
In centers with population
of—
Less than 250..................................
250 to 1,000.....................................
1.000 to 5,000..................................
5.000 to 25,0 0 0 ................................
CO
T a b le 1 05 .
N u m b e r a n d D e p o s i t s o f O p e r a t i n g B a n k s in t h e
(C o n t in e n t a l
U. S.
and
O t h e r A r e a s ), D
ecem ber
U n ite d
S ta tes
31, 1952
b a n k s g r o u p e d a c c o r d in g t o in s u r a n c e s t a t u s an d b y d i s t r ic t an d s t a t e
______________________________________ _
_______________________________________________________________________
FD IC District
and State
Continental U. S .. 14,575
42
13,439
5,706,158
74,666
1,450,909
611,644
926,327
16,398,666
1,410,712
1,450,909
611,644
926,327
16,398,666
1,410,712
1,450,909
609,103
923,439
16,341,536
1,405,098
3,447,116
598,364
1,270,925
2,471,776
2,079,122
1,957,968
502,861
1,270,925
2,471,776
2,079,122
1,882,683
498,777
1,270,925
2,464,085
2,062,708
75,285
4,084
513,447
14,473,555
3,773,452
2,489,695
1,951,651
513,447
14,473,555
3,723,866
2,489,695
1,951,651
504,086
14,443,710
3,703,477
2,398,084
1,784,845
9,361
29,845
20,389
91,611
166,806
24
154
317
3
10
196
43
7
5
2
12
8
16
1
2
2
n o li fn m iQ
/I a
229
14
230
199
160
229
14
230
199
160
229
13
224
189
148
Connecticut..............
Delaware ...............
Dist. of Columbia. .
'EM
Clanrcri a
184
37
19
213
403
112
35
19
213
403
95
34
19
209
341
40
894
485
665
609
40
894
481
665
609
39
883
471
609
474
1,111
20
1
4
2
8
1
9
10
6
3
8
6
2
1
1
5
5
1
9
1
1
72
4
2
1
68
1
62
1
s
8
55
135
3
2
1
4
3
1
41,451
13,941
CORPORATION
341
155
District 12®
TTsncnQ
357,059
301,725 6,063,217
518,014 14,127,788 14,053,122
74,858 1,485,528 1,485,528
384,635
426,086
137,057
32,766
47,224
51,969
189,194
65,910
121,456
191,202
191,202
128,587
218,897
94,796
261,508
261,508
95,525
3
1,623
1,151
487
8,185,419
8,487,144
40,924,312 40,406,298
20,370,185
20,445,043
9,492,671
9,629,728
6,880,277
6,913,043
10,125,048 10,077,824
13,632,457
13,821,651
16,963,250 16,841,794
5,044,032 ■a4,915,445
7,202,246 ? 6,983,349
11,737,758 *11,642,962
21,637,706 21,542,181
51
1,112
Indiana......................
14,550,361
55,052,100
21,930,571
10,055,814
6,913,043
10,125,048
13,887,561
16,963,250
5,235,234
7,202,246
11,737,758
21,899,214
511
951
1,591
1.047
1.047
1,505
1,463
1,559
1,623
1,151
492
Til*
5,836,216
206
District 9
A laVtnrriQ
A ri7ATl Q
5,836,216
529
1
2
10
11
Nonin
sured
1,960,099 22,621,239 16,785,023
492,991
60
5
67
43
24
63
Insured
2,453,090 22,621,239 16,785,023
20
6
Total
323 196,431,356 173,810,117 171,357,027
564
8
21
21
Nonin
sured
206
13,422
17
ft
State
529
Insured
14,046
42
457
937
1,567
1,025
I 978
1,452
1,428
1,492
1,089
1,419
1,107
471
1a
T liflffip f 11
65
Total
323 195,552,200 172,930,961 170,970,862
386,165
879,156
879,156
852
1,106
1,601
1,056
1,047
1,505
1,471
1,559
fi
584
Total
Nonin
sured
INSURANCE
FDIC District
District 1 ...................
District 2 2..................
District 3
..
District 4 ...................
T^ioffipf K
Disfript
District 7 ...................
14,088
All
banks
In
sured
DEPOSIT
14,617
Non
Banks deposit
trust
of de
posit1 com
panies
Mutual savings banks
FEDERAL
T otal United
S tates...................
Total
In
sured
Commercial and stock savings
banks and nondeposit
trust companies
Mutual savings banks
Noninsured
All
banks1
oo
Deposits (in thousands of dollars)
Number of banks
Commercial and stock savings
banks and nondeposit
trust companies
0
2,541
2,888
57,130
5,614
1,489,148
95,503
81,498
20,837
1,407,650
74,666
49,586
36,076
13,510
7,691
16,414
Michigan...
Minnesota . .
Mississippi.
Missouri. . .
Montana. . .
429
680
429
679
202
202
598
109
598
109
412
664
199
576
109
Nebraska............
Nevada...............
New Hampshire.
New Jersey.........
New Mexico. .. .
417
417
369
8
8
8
109
335
51
75
312
51
58
308
51
New York...........
North Carolina..
North Dakota. .
Ohio.....................
Oklahoma...........
734
226
153
654
385
604
226
153
651
385
595
225
146
644
376
Oregon...............
Pennsylvania. .
Rhode Island. .
South Carolina.
South Dakota..
69
947
32
9
188
24
3
188
42
34
23
130
130
1,858,746
2,105,124
777,713
2,327,092
8,222,908
1,858,746
2,105,124
516,442
1,901,006
4,608,262
1,840,168
2,104,127
477,989
1,812,376
4,509,853
18,57 8
997
38,453
88,630
98,409
6,614,478
3,415,412
911,236
5,041,046
653,804
6,614,478
3,224,210
911,236
5,041,046
653,804
6,454,558
3,212,298
902,575
5,021,462
653,804
159,920
11,912
8,661
19,584
1,525,760
224,760
612,874
6,032,489
444,450
1,525,760
224,760
304,897
5,279,726
444,450
1,484,841
224,760
247,107
5,273,396
444,450
40,919
48,421,247
2,209,358
612,470
9,077,075
2,000,324
35,141,725
2,209,358
612,470
8,813,864
2,000,324
34,634,125
2,183,049
495,795
8,804,664
1,994,766
1,631,637
12,853,496
1,113,301
841,183
553,548
1,608,016
11,631,179
817,027
841,183
553.548
1,600,227
11,565,521
785,239
832,300
553.548
7,789
65,658
31,788
8,883
2,298,929
8,576,540
695,827
282.548
2,370,796
2,292,755
8,485,282
695,827
282.548
2,370,796
6,174
91,258
57,790
6,330
Tennessee.
Texas.........
Utah..........
Vermont. .
Virginia. . .
297
919
55
74
315
297
919
55
67
315
290
877
55
315
2,298,929
8,576,540
695,827
376,449
2,370,796
Washington. . .
West Virginia.
Wisconsin. . . .
Wyoming........
121
182
557
52
117
182
553
52
114
178
545
52
2,434,877
1,036,460
3,499,631
313,799
2,196,990
1,036,460
3,483,307
313,799
2,175,745
1,023,225
3,474,422
313,799
21,245
13,235
8,885
132,878
1,225
403,273
19,320
22,023
294,973
5,464
132,878
1,225
403,273
19,320
22,023
294,973
5,464
95,762
37,116
1,225
376,291
19,320
22,023
36,857
159
Other areas
Alaska........................
American Samoa. . .
Hawaii.......................
Mariana Islands4. . .
Panama Canal Zone4
Puerto Rico4.........
Virgin Islands... .
26,982
258,116
5,305
307,977
752,763
752,763
307,977
23,621
1,222,317
296,274
23,621
1,222,317
141,768
93,901
93,901
237,887
237,887
16,324
15,893
154,506
431
» Includes 21 noninsured banks of deposit (2 in Colorado, 13 in Georgia, 2 in Iowa, and 4 in Texas) for which deposits are not available,
a Includes Puerto Rico and the Virgin Islands.
* Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone.
* Includes deposit data for the following branches of insured banks in continental United States: 3 noninsured branches in the Mariana Islands (2 in Guam and 1 in Saipan);
4 noninsured branches in the Panama Canal Zone; and 9 insured branches in Puerto Rico. Data for these branches are not included in the figures for the States in which the
parent banks are located.
Back figures: See the Annual Report for 1951, pp. 138-139, and earlier reports.
BANKS
149
170
66
191,202
OPERATING
66
923
134
170
191,202
221,379
41,451
3,614,646
OF
68
10
39,892
384,635
507,600 13,279,522 13,279,522
26,309
116,675
9,200
263,211
263,211
5,558
940
13
149
170
21
261,271
426,086
1,614,646
DEPOSITS
362
166
55
154
173
AND
380
167
64
156
180
OFFICES,
380
167
96
165
368
NUMBER,
Kentucky.........
Louisiana..........
Maine................
Maryland.........
Massachusetts.
CD
^
A ssets a n d
L ia b il it ie s
of
O p e r a t in g B a n k s
Table 106. Assets and liabilities of operating banks in the United States (continental U. S.
and other areas), June 30, 1952
Banks grouped according to insurance status and type of bank
Table 107. Assets and liabilities of operating banks in the United States (continental U. S.
and other areas), December 31, 1952
Banks grouped according to insurance status and type of bank
Table 108. Assets and liabilities of operating banks in the United States (continental U. S.
and other areas), December 31, 1952
Banks grouped by district and State
Table 109. Assets and liabilities of operating insured banks in the United States (continental
U. S. and other areas), December 31, 1952, June 30, 1952, and December 31, 1951
The data in these tables relate to banks operating in the United
States (continental U. S. and other areas). Data from the same tabu
lations for all operating banks in each State and other area are also
shown in the Corporation’s publication, “ Assets, Liabilities, and
Capital Accounts, Capital and other Ratios, Commercial and Mutual
Savings Banks/’ as follows:
For June 30, 1952
For December 31, 1952
Report No. 37, pp. 8-9
Report No. 38, pp. 8-9
Instalment loans are ordinarily reported net if the instalment pay
ments 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 repayment at maturity.
National banks and State banks in the District of Columbia not
members of the Federal Reserve System: Office of the Comptroller of
the Currency.
State banks members of the Federal Reserve System: Board of
Governors of the Federal Reserve System.
Other insured banks: Federal Deposit Insurance Corporation.
Noninsured banks: State banking authorities; Rand McNally Bankers
Directory; Polk’s Bankers Encyclopedia; and reports from individual
banks.
BANKS
Beginning with June 30, 1948, individual loan items have been
S ou rces o f d a ta
OPERATING
Since June 30, 1942, demand balances with and demand deposits
due to banks in the United States, except private banks and American
branches of foreign banks, exclude reciprocal interbank deposits.
Reciprocal interbank deposits arise when two banks maintain deposit
accounts with each other.
Asset and liability data for noninsured banks are tabulated from
reports pertaining to the individual banks. In a few cases these reports
are not as detailed as those submitted by insured banks, and some of
the items reported have been allocated to more detailed categories
according to the distribution of asset and liability data for insured
State banks not members of the Federal Reserve System or for other
noninsured banks.
OF
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.” Branches outside the continental United States
of insured banks in the United States are treated as separate entities
but as in the case of other branches are not included in the count of
banks. Data for such branches are not included in the figures for the
States in which the parent banks are located. Nine branches in Puerto
Rico of 2 national banks in New York became insured in July 1952.
Asset and liability data for these branches are included with insured
bank figures for Puerto Rico and for all insured banks.
Total deposits shown in these tables are not the same as the deposits
upon which assessments paid to the Federal Deposit Insurance Cor
poration are based. The assessment base is slightly lower due to certain
exclusions which are permitted and deductions which may be claimed.
LIABILITIES
Assets and liabilities held in or administered by a savings, bond,
insurance, real estate, foreign, or any other department of a bank,
except a trust department, are consolidated with the respective assets
and liabilities of the commercial department “Deposits of individuals,
partnerships, and corporations” include trust funds deposited by a trust
department in a commercial or savings department. Other assets held
in trust are not included in statements of assets and liabilities.
AND
reported gross instead of net of valuation reserves. Accordingly, re
serves for losses on loans under the provisions of Mimeograph 6209
issued by the Bureau of Internal Revenue in December 1947 and other
loan valuation reserves have been shown separately.
ASSETS
Statements of assets and liabilities are submitted by insured com
mercial banks upon either a cash or an accrual basis, depending upon
the bank’s method of bookkeeping. Assets reported represent aggregate
book value, on the date of call, less valuation and premium reserves.
Table 106.
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 in t h e U n it e d S t a t e s ( C o n t i n e n t a l U .
banks
grouped
a c c o r d in g
to
in s u r a n c e
status
and
type
of
S.
an d O t h e r A re a s ), J u n e
30, 1952
bank
(Amounts in thousands of dollars)
Commercial and stock savings banks and
nondeposit trust companies
All banks
Mutual savings banks
Noninsured
Asset, liability, or capital account item
Total
Insured
Insured
9,545,236 178,389,619 175,339,474
Banks
of
deposit
2,850,805
Nondeposit
trust
com
panies1
Total
Insured
199,340 24,377,792 17,882,701
Non
insured
6,495,091
505,696
52,472
965,552
756,174
209,378
65,664
1,448
598,088
6,570
4,663
64,890
2,384,038
19,331,231
9,929,047
34,931
40,005
8,598,771
379,854
2,726
4,650
52,802
101,253
1,272
604,263
222,190
75,030
1,272
435,192
218,346
169,071
3,844
82,740,951
5,351,975
75,510,846
73,927,155
1,482,098
71,029,850
10,124,402
6,265,223
673,451
66,916,304
9,865,048
5,574,713
384,886
4,113,546
259,354
690,510
288,565
61,424,074
9,889,868
3,805,223
391,681
60,186,402
9,652,108
3,742,570
1346,075
1,178,441
219,891
55,244
28,522
Loans and discounts, net— tota l..................... 70,175,532
1,032,229
Valuation reserves3....................................................
Loans and discounts, gross— to ta l................. 71,207,761
Commercial and industrial loans....................... 25,499,020
Loans to farmers directly guaranteed by the
77,543
Commodity Crsd.it Corporation
3,595,821
Other loans to farmers (excl. real estate). . . .
2,112,612
Loans to brokers and dealers in securities... .
989,505
Other loans for carrying securities....................
Real estate loans— total....................................... 25,730,123
1,110,480
Farm land............................................................
Residential properties:
6,888,799
Insured by F H A .............................................
4,868,666
Insured or guaranteed by V A .....................
Not insured or guaranteed by F H A or V A .
9,538,944
Other properties...................................................
3,873,234
Other loans to individuals................................... 11,571,562
154,741
Loans to banks.......................................................
1,476,834
All other loans (including overdrafts)..............
66,903,761
3,271,771
59,666,822
58,860,741
778,921
Balances with banks in foreign countries. . . .
Cash items in process of collection...................
Securities— to ta l.....................................................
U. S. Gov’t, obligations (incl. guaranteed). . .
Obligations of States and subdivisions............
Other bonds, notes, and debentures2...............
Corporate stocks....................................................
Miscellaneous assets— to ta l...............................
Bank premises owned, furniture and fixtures.
Other real estate— direct and indirect.............
All other miscellaneous assets............................
767,546
93,335
88,092,926
49,163
13
1,848
26,223
36,574
26,334
10,240
101,593 12,582,080
8,813,796
3,768,284
9,605,776
234,534
2,460,000
281,770
6,729,902
212,940
1,832,143
38,811
2,875,874
21,594
627,857
242,959
27,160 10,508,710
8,043,020
2,465,690
59,231
17,869
7,409
17,084
163,287
15,262
27,201 10,687,259
41
178,549
8,206,307
2,480,952
1,770
28,167
23,280
4,887
851,354
2,285
59,712,095
781,206
25,470,853
25,232,047
237,036
3,529
1,730
1,478
252
185
97,874
6,670
38,204 .........5,123 .........2,917 .........1,281 .........1,636
234,087
16,942 10,553,879 8,121,639 2,432,240
10,961
86,658
20,717
1,167
47,619
294,563
64,659
3,870 2,898,129 2,603,566
626,738
35,813
2,606 1,916,937 1,290,199
3,074,932 1,254,809
73,661
7,960 4,829,741
245,169
1,339 1,361,453 1,116,284
39,237
40,330
53,602
93,932
965
113,240
1,311
49,255 .........2,216 .........6,634 .........5,027 .........1,607
853,680
1,014,641
17,588
67,918,402
3,289,359
60,520,502
25,255,327
243,693
74,014
3,497,510
2,105,942
944,542
23,046,854
1,077,635
3,529
98,311
6,670
44,963
2,683,269
82,845
77,543
3,594,091
2,112,612
986,588
15,176,244
1,062,861
74,014
3,496,032
2,105,942
943,261
14,925,215
1,040,977
5,975,707
4,203,509
8,202,514
3,587,489
11,417,027
153,430
1,423,756
368,092
665,157
1,336,430
285,745
154,535
1,311
53,078
8,440,670
2,951,729
5,209,203
2,511,781
11,477,630
154,741
1,470,200
8,372,141
2,913,310
5,127,582
2,471,205
11,363,425
153,430
1,418,729
2,657,210
2,503,266
153,944
2,335,760
2,233,555
84,090
18,115
321,450
269,711
51,739
1,392,524
138,966
1,125,720
1,344,994
123,923
1,034,349
47,530
15,043
91,371
1,268,369
135,259
932,132
1,248,546
121,695
863,314
14,194
5,752
64,144
5,629
7,812
4,674
124,155
3,707
193,588
96,448
2,228
171,035
27,707
1,479
22,553
CORPORATION
40,318,023
2,451,150
19,331,231
10,358,064
37,657
44,668
8,653,421
41,074,197
2,459,068
19,332,503
10,364,239
253,277
40,005
8,625,105
INSURANCE
40,876,191
41,841,743
2,552,403
19,332,503
10,962,327
259,847
44,668
8,689,995
DEPOSIT
Gash, balances with other banks, and cash
collection item s— to ta l................................
Currency and coin.................................................
Reserve with F. R . banks (member banks). .
Demand balances with banks in U . S..............
Total
FEDERAL
T otal assets..................................................................... 202,767,411 193,222,175
Non
insured
Total liabilities and capital accounts ............... 202,767,411 193,222,175
9,545,236 178,389,619 175,339,474
2,850,805
199,340 24,377,792 17,882,701
6,495,091
Business and personal deposits— total........ 154,618,406 147,143,467
7,474,939 132,848,946 131,073,895
1,705,107
69,944 21,769,460 16,069,572
5,699,888
90,949,231
1,200,610
92,135,843
90,936,853
1,130,242
68,748
53,459,125
6,242,938
37,955,032
37,409,999
543,945
Government deposits—total...........................
31,391
2,758,071
2,727,043
30,920
108
8,431
8,068
363
5,919,687
292,570
8,903,783
1,694,061
5,805,921
291,726
8,713,372
1,610,192
388,890
16,798,908
16,411,545
387,303
60
11,193
9,666
113,766
844
190,411
83,869
5,917,740
292,523
8,902,258
1,686,387
5,804,419
291,679
8,712,097
1,603,350
113,321
844
190,101
83,037
1,947
47
1,525
7,674
1,527
1,502
47
1,275
6,842
250
832
1,738
1,652
86
50
50
1,602
86
13,138,681
425,999
13,562,942
13,137,029
11,290,417
35,163
1,339,032
441,672
32,397
425,912
248,299
138,949
37,910
11,538,666
172,424
1,376,942
441,872
33,038
11,290,367
33,561
1,339,032
441,672
32,397
248,299
138,863
37,909
8,289,828 163,210,796 160,622,469
2,518,322
Miscellaneous liabilities— total.....................
Rediscounts and other borrowed money.........
All other miscellaneous liabilities......................
Number of banks5..........................................................
641
1,750,792
767,530
70,005 21,782,391 16,080,890
5,701,501
68,917
25,951
23,273
1,088 21,756,440 16,057,617
2,678
5,698,823
2,649,644
2,515,973
133,671
2,492,625
91,334
2,424,639
2,414,057
100,292
2,392,333
54,352
24,216
9,180
124,491
91,145
2,322,912
7,771
46,581
1,376
22,840
8,423,499 165,703,421 163,036,526
2,572,674
157,019
222
101,916
55,103
189
101,727
33
55,070
94,221 21,939,410 16,182,806
5,756,604
15,124,580
14,002,843
86,964
3,888,690
7,459,251
3,689,675
1,121,737
12,686,198
65,394
3,768,005
6,907,544
3,261,900
12,302,948
278,131
105,119
21,570
120,685
551,707
427,775
86,964
3,888,690
5,800,170
2,910,374
65,394
3,768,005
5,666,133
2,803,416
21,570
80,744
95,974
79,843
39,941
38,063
27,115
14,641
13,655
986
14,112
13,450
598
64
156,797
2,438,382
1,699,895
(4)
(4)
1,659,081
779,301
1,241,411
458,484
417,670
320,817
529
205
324
738,487
1 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.
2 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.
8 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.
4 Not reported separately. Included with “ Undivided profits and reserves.”
6 Includes 17 noninsured banks of deposit for which asset and liability data are not available.
Back figures: See the Annual Report for 1951, pp. 142-143, and earlier reports.
H*
BANKS
Preferred capital....................................................
Common stock........................................................
Surplus......................................................................
Undivided profits and reserves..........................
1
100,514
2,549,130
Total liabilities (excluding capital
accounts)................................................... 187,642,831 179,219,332
Capital accounts— total...................................
1,822,387 122,629,520 120,809,811
40,581,276 39,812,658
6,467, U1
1,688
OPERATING
Demand............................................................ 122,655,1*71 120,833,08^
Tim e.................................................................. 62,337,716 55,870,275
641
200
1
445
OF
Total deposits.............................................. 184,993,187 176,703,359
200
60
LIABILITIES
2,735,111
16,421,211
11,538,716
174,112
1,376,942
441,872
33,038
in the United States— demand.............
in the United States— time....................
in foreign countries— demand...............
in foreign countries— time.....................
savings.........................................................
1,620
5,697,905
16,810,101
Interbank and postal savings deposits—
total................................................................ 13,564,680
Banks
Banks
Banks
Banks
Postal
13,998
AND
United States Government— demand..............
United States Government— time.....................
States and subdivisions— demand.....................
States and subdivisions— time...........................
12,378
1,088 21,747,031 16,049,126
ASSETS
Deposits of individuals, partnerships, and
corporations— demand..................................... 92,149,841
Deposits of individuals, partnerships, and
corporations— time........................................... 59,702,063
Certified and officers’ checks, cash letters of
credit and travelers’ checks outstanding,
and amounts due to Federal Reserve banks.
2,766,502
Table 107.
A
ssets an d
L ia b il it ie s
of
O p e r a t in g B a n k s
in t h e
U n i t e d S t a t e s ( C o n t i n e n t a l U . S.
O t h e r A r e a s ), D
and
ecem ber
31, 1952
B AN K S GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BAN K
(Amounts in thousands of dollars)
Commercial and stock savings banks and
nondeposit trust companies
All banks
Mutual savings banks
Nonirtsured
Asset, liability, or capital account item
Total
Insured
Total
Insured
Banks
of
deposit
Nondeposit
trust
com
panies1
Total
Insured
Non
insured
6,621,704
731,569
92,283
1,392
402,922
215,677
186,511
32,985
2,709,188
44,299,249
2,749,835
19,809,084
11,479,724
41,961
75,000
10,143,645
491,146
62,337
55,401
1,239
379,953
5,648
1,514
41,694
53,374
Cash, balances with other banks, and cash
collection item s— to ta l................................
Currency and coin.................................................
Reserve with F. R . banks (member banks). .
Demand balances with banks in U . S..............
Other balances with banks in U. S...................
Balances with banks in foreign countries. . . .
Cash items in process of collection....................
45,763,876
2,938,679
19,810,476
12,456,442
267,125
76,527
10,214,627
45,030,818
2,842,118
19,810,476
11,882,646
257,638
75,000
10,162,940
'573,796
9,487
1,527
51,687
44,845,796
2,813,411
19,809,084
11,913,051
47,609
76,527
10,186,114
Securities— to ta l......................................................
U . S. Gov’t, obligations (incl. guaranteed). . .
Obligations of States and subdivisions............
Other bonds, notes, and debentures2...............
Corporate stocks....................................................
90,459,926
73,010,835
10,563,520
6,146,191
739,380
85,210,541
69,001,513
10,303,933
5,469,385
435,710
5,249,385
4,009,322
259,587
676,806
303,670
77,806,262
63,588,505
10,238,126
3,576,290
403,341
76,280,443
62,408,171
10,006,206
3,509,325
356,741
1,422,071
1,118,580
216,731
58,593
28,167
103,748 12,653,664
61,754 9,422,330
325,394
15,189
8,372 2,569,901
336,039
18,433
8,930,098
6,593,342
297,727
1,960,060
78,969
3,723,566
2,828,988
27,667
609,841
257,070
Loans and discounts, net— tota l.....................
Valuation reserves8....................................................
Loans and discounts, gross— to ta l.................
Commercial and industrial loans.......................
Loans to farmers directly guaranteed by the
Commodity Credit Corporation....................
Other loans to farmers (excl. real estate). . . .
Loans to brokers and dealers in securities... .
Other loans for carrying securities....................
Real estate loans— total.......................................
Farm land............................................................
Residential properties:
Insured by F H A .............................................
Insured or guaranteed by V A ......................
No t insured or guaranteed by F H A or V A .
Other properties...................................................
Other loans to individuals...................................
Loans to banks.......................................................
All other loans (including overdrafts)..............
75,928,803
1,077,382
77,006,185
28,040,657
72,515,153
1,058,629
73,573,782
27,840,851
3,413,650
18,753
3,432,403
199,806
64,579,618
905,856
65,485,474
28,010,892
63,824,310
903,935
64,728,245
27,815,944
726,957
1,887
728,844
193,145
28,351 11,349,185
171,526
34
28,385 11,520,711
29,765
1,803
8,690,843
154,694
8,845,537
24,907
2,658,342
16,832
2,675,174
4,858
725,563
3,221,324
2,060,151
1,128,483
27,245,326
1,129,888
683,769
3,142,286
2.050.295
1,084,794
24,368,814
1,09^,69^
41,794
79,038
9,856
43,689
2,876,512
35,194
725,563
3,219,535
2,060,151
1,125,458
15,866,163
1,057,284
683,769
3,140,789
2,050,295
1,083,439
15,615,871
1,036,500
41,794
292
1,497
1,789
78,576
170
9,856
35,878 .........6,141 .........3,025 .........1,355 .........1,670
17,413 11,379,163 8,752,943 2,626,220
232,879
14,410
1,288
58,194
19,496
72,604
6,843,614
5,249,014
9 ,970,95k
4,051,856
12,836,043
157,625
1,591,013
6.452.296
4,497,823
8,584,913
3,739,088
12,699,259
157,357
1,546,357
391,318
751,191
1,386,041
312,768
136,784
268
44,656
3,675,402
3,011,547
5,501,162
2,620,768
12,739,297
157,625
1,580,790
3,607,833
2,971,349
5,416,693
2,583,496
12,641,861
157,357
1,538,920
Miscellaneous assets— to ta l...............................
Bank premises owned, furniture and fixtures.
Other real estate—direct and indirect.............
All other miscellaneous assets............................
2,677,998
1,442,139
141,629
1,094,230
2,537,407
1,394,104
125,888
1,017,415
140,591
48,035
15,741
76,815
2,365,484
1,310,250
137,352
917,882
2,278,178
1,290,798
123,352
864,028
13
775
918,080
125,268
1,392
543,391
219,516
28,513
19,295 .........9,218
323,749
710,993
1,301,572
275,496
39,348
10,223 .........7,437
.........2,786
259,229
103,306
2,536
153,387
53,285
28,583
1,741
22,961
3,168,212
2,237,467
4,469,792
1,431,088
96,746
18,292
5,762
7,770
4,760
312,514
131,889
4,277
176,348
CORPORATION
2,844,463
1,526,474
3,168,220
1,155,592
57,398
64,005
3,564
2,646
37,552
8,120
76,349
1,795
35,477
365
97,071
268
39,377 .........2,493
69,014
13,690
6,230
49,094
140,469
3,839
INSURANCE
733,058
96,561
DEPOSIT
205,792 25,233,443 18,611,739
9,536,684 189,597,160 186,682,180
FEDERAL
T otal assets.................................................................... 214,830,603 205,293,919
Non
insured
Total liabilities and capital accounts ............... 214,830,603 205,293,919
9,536,684 189,597,160 186,682,180
2,709,188
205,792 25,233,443 18,611,739
6,621,704
Business and personal deposits— total........ 165,027,663 157,411,509
7,616,154 142,421,241 140,639,327
1,707,787
74,127 22,606,422 16,772,182
5,834,240
72,989
Government deposits— total...........................
Banks
Banks
Banks
Banks
Postal
in the United States— demand.............
in the United States— time....................
in foreign countries— demand...............
in foreign countries— time......................
savings.....................................................
98,897,813
1,149,581
55,540,770
6,368,455
39,331,296
38,794,901
535,356
20,946
19,253
1,693
1,039 22,577,929 16,745,869
5,832,060
2,953,673
23,436
2,969,562
2,946,613
22,850
99
7,547
7,060
487
16,034,829
15,697,660
337,169
16,022,004
15,686,714
335,226
64
12,825
10,946
5,020,892
327,112
8,993,643
1,693,182
4,939,177
326,455
8,819,091
1,612,937
81,715
657
174,552
80,245
5,018,041
327,106
8,991,872
1,684,985
4,936,857
326,449
8,817,570
1,605,838
81,184
657
174,238
79,147
2,851
64
15,368,864
15,032,881
335,983
15,366,872
15,030,986
335,862
13,122,256
183,670
1,466,850
562,903
33,185
12,955,589
44,124
1,437,724
562,903
32,541
166,667
139,546
29,126
13,122,206
181,728
1,466,850
562,903
33,185
12,955,539
42,279
1,437,724
562,903
32,541
166,644
139,449
29,125
Total deposits.............................................. 196,431,356 188,142,050
1,771
8,197
1,521
7,099
250
1,098
24
1,992
1,895
97
23
50
1,942
50
1,845
97
6
1
6
644
8,289,306 173,810,117 171,357,027
2,378,875
74,215 22,621,239 16,785,023
5,836,216
1,699,759 131,688,91b 129,992,116
6,589,5U7 1*2,121,203 U ,36b,911
1,623,622
755,253
73,176
33,165
30,20b
l t039 22,588,07b- 16,‘75b,819
2,961
5,833,255
2,945,259
2,836,335
108,924
2,812,368
2,739,919
48,947
23,502
132,891
96.416
36,475
Rediscounts and other borrowed money.........
All other miscellaneous liabilities......................
196,234
2,749,025
188,785
2,647,550
7,449
101,475
196,219
2,616,149
188,785
2,551,134
6,410
42,537
1,024
22,478
15
132,876
96.416
15
36,460
8,398,230 176,622,485 174,096,946
2,427,822
97,717 22,754,130 16,881,439
5,872,691
Total liabilities (excluding capital
accounts).................................................. 199,376,615 190,978,385
15,453,988
14,315,534
1,138,454
12,974,675
12,585,234
281,366
108,075
Preferred capital....................................................
Common stock........................................................
Surplus.....................................................................
Undivided profits and reserves..........................
79,414
3,937,382
7,776,273
3,660,919
57,835
3,818,245
7,208,239
3,231,215
21,579
119,137
568,034
429,704
79,414
3,937,382
6,074,654
2,883,225
57,835
3,818,245
5,938,187
2,770,967
21,579
78,871
97,553
83,363
40,266
38,914
28,895
Number of banks5..........................................................
14,617
13,645
972
14,088
13,439
584
65
2,479,313
1,730,300
(4)
(4)
749,013
1,701,619
777,694
1,270,052
460,248
431,567
317,446
529
206
323
1 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.
2 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.
3 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.
4 Not reported separately. Included with undivided profits and reserves.
BIncludes 21 noninsured banks of deposit for which asset and liability data are not available.
Back figure8,ll93U-1951: See the preceding table and the Annual Report for 1951, pp. 144-145, and earlier reports.
BANKS
Capital accounts— total...................................
OPERATING
Miscellaneous liabilities— total......................
OF
Demand............................................................ 131,722,079 130,022,320
T im e.................................................................. 6b,709,277 58,119,730
644
2,320
1,879
531
LIABILITIES
Interbank and postal savings deposits—
total................................................................
1,224,263 100,120,383
AND
United States Government— demand..............
United States Government— time.....................
States and subdivisions— demand.....................
States and subdivisions— time...........................
98,917,066
ASSETS
Deposits of individuals, partnerships, and
corporations— demand..................................... 100,141,329
Deposits of individuals, partnerships, and
corporations— time........................................... 61,909,225
Certified and officers’ checks, cash letters of
credit and travelers’ checks outstanding,
2,977,109
and amounts due to Federal Reserve banks.
££
Qji
Table 108.
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 in t h e U n it e d S t a t e s ( C o n t in e n t a l
U. S.
a n d O t h e r A r e a s ), D e c e m b e r
31, 1952
BANKS GROUPED BY DISTRICT AND STATE
(Amounts in thousands of dollars)
Liabilities and capital accounts
Assets
Deposits
FDIC District and State
Number
of banks1
U . S. Gov
ernment
obligations
Loans, dis
Other
counts, and
securities overdrafts
Miscel
laneous
assets
Total
Business
and
personal2
Govern
ment3
Inter
bank4
Miscel
laneous
liabilities
Total
capital
accounts
14,617 45,763,876
73,010,835 17,449,091 75,928,803
2,677,998 214,830,603 165,027,663 16,034,829 15,368,864
2,945,259 15,453,988
Continental U. S ............
Other areas.......................
14,575 45,584,165
179,711
42
72,740,116 17,374,110 75,512,219
74,981
416,584
270,719
2,626,296 213,836,906 164,401,805 15,799,262 15,351,133
17,731
235,567
625,858
993,697
51,702
2,917,221 15,367,485
28,038
86,503
FDIC District
852 2,210,224
1,106 11,772,319
1,601 4,865,945
1,056 2,599,027
1,047 1,991,754
1,505 2,978,863
1,471 3,215,547
1,559 4,097,513
1,112 1,171,416
1,623 2,050,077
1,151 3,926,126
492 4,705,354
6,145,651
18,611,682
8,506,720
4,015,204
2,551,323
3,546,553
6,287,886
7,222,298
2,168,434
2,643,990
3,754,773
7,285,602
1,542,226 6,126,863
5,156,304 25,139,335
2,564,079 7,816,562
788,766 3,379,924
580,865 2,229,497
638,997 3,651,896
1,069,210 4,128,928
1,426,689 5,361,087
465,109 1,778,158
555,253 2,425,835
713,872 3,977,177
1,872,740 9,496,957
207,866
939,742
278,425
144,592
90,512
99,457
127,108
119,558
46,352
54,457
198,237
319,990
16,232,830
61,619,382
24,031,731
10,927,513
7,443,951
10,915,766
14,828,679
18,227,145
5,629,469
7,729,612
12,570,185
23,680,643
13,302,793
46,691,526
19,175,344
8,281,920
5,442,565
7,791,783
12,091,366
13,933,954
4,276,521
5,705,308
8,834,324
18,874,401
763,036
2,914,085
1,657,776
1,018,122
879,925
894,591
1,255,938
1,419,055
537,887
899,113
1,369,278
2,190,456
484,532
5,446,489
1,097,451
755,772
590,553
1,438,674
540,257
1,610,241
420,826
597,825
1,534,156
834,357
161,254
1,471,917
183,331
113,247
59,056
80,955
103,167
134,338
45,229
40,988
101,435
422,304
1,521,215
5,095,365
1,917,829
758,452
471,852
709,763
837,951
1,129,557
349,006
486,378
730,992
1,359,125
State
Alabama..............................
Arizona.................................
Arkansas..............................
California.............................
Colorado..............................
229
14
230
199
160
413,515
123,937
298,691
3,464,304
385,102
505,583
221,606
355,240
5,358,652
560,470
151,086
50,537
86,904
1,410,991
56,976
482,803
246,502
251,737
7,280,915
498,263
16,246
13,934
6,029
250,938
10,400
1,569,233
656,516
998,601
17,765,800
1,511,211
1,179,856
511,184
764,029
14,148,586
1,185,059
180,414
87,549
93,090
1,597,879
119,120
90,639
12,911
69,208
652,201
106,533
12,174
9,522
2,885
369,042
11,091
108,150
35,350
69,389
998,092
89,408
Connecticut.........................
Delaware..............................
District of Columbia........
Florida.........................
Georgia.................................
184
37
19
213
403
538,445
107,781
353,702
707,847
617,804
1,527,193
217,154
517,765
1,091,919
654,663
460,689
96,228
53,116
169,059
124,113
1,225,510
245,897
420,060
639,226
828,861
49,195
8,392
35,547
29,069
3,801,032
675,452
1,366,755
2,643,598
2,254,510
3,231,342
542,728
1,131,550
1,973,066
1,586,326
167,085
50,754
52,880
301,421
257,058
48,689
4,882
86,495
197,289
235,738
26,153
4,959
12,156
16,795
25,719
327,763
72,129
83,674
155,027
149,669
Idaho....................................
Illinois..................................
Indiana.................................
Iowa......................................
Kansas..................................
40
894
485
665
609
105,837
3,514,968
950,568
582,545
531,832
207,972
6,325,981
1,771,963
896,317
680,501
20,705
1,208,266
230,918
218,423
183,916
205,334
4,390,214
1,047,467
970,873
679,301
4,519
102,766
31,535
16,792
11,848
544,367
15,542,195
4,032,451
2,684,950
2,087,398
426,963
11,834,428
3,187,300
2,099,526
1,479,352
79,847
1,159,758
434,725
259,297
363,260
6,637
1,479,369
151,427
130,872
109,039
3,687
128,483
23,903
5,855
5,881
27,233
940,157
235,096
189,400
129,866
22,112
CORPORATION
1 .............................
2 5............................
3 .............................
4 .............................
5 .............................
6 .............................
7 .............................
8 .............................
9 .............................
10...........................
11...........................
12®..........................
INSURANCE
District
District
District
District
District
District
District
District
District
District
District
District
DEPOSIT
Total United States..........
FEDERAL
Cash and
due from
banks
717,438
803,617
346,599
1,102,330
3,398,906
81,000
191,135
96,762
193,552
791,775
636,331
573,365
295,073
710,195
3,664,334
13,772
26,037
8,169
43,786
122,934
2,010,325
2,239,999
871,006
2,535,864
9,225,041
1,491,046
1,504,016
726,332
2,028,396
7,373,439
165,163
347,385
40,359
182,384
448,836
116,312
400,633
Michigan..............................
Minnesota............................
Mississippi...........................
Missouri...............................
Montana..............................
429
680
202
1,490,691
773,194
252,588
1,448,316
165,413
2,917,292
1,286,792
299,158
1,740,876
295,857
572,074
335,908
136,607
322,308
43,890
2,009,717
1,263,965
278,607
1,863,790
177,520
65,598
30,189
9,650
43,487
7,701
7,055,372
3,690,048
976,610
5,418,777
690,381
5,775,518
2,766,802
703,317
3,794,752
556,181
602,854
283,114
141,032
424,707
67,349
115,787
12,656
71,652
785,623
12,848
510,469
75,587
276,820
2,097,904
133,380
9,774
3,236
5,659
85,759
5,069
1,634,780
240,037
693,769
6,523,363
469,768
1,225,858
192,703
579,384
5,493,490
334,682
4,274,453 22,795,534
241,563
798,024
51,541
149,859
746,227 3,090,162
183,177
644,234
845,591
28,969
3,886
97,019
20,014
54,420,567
2,408,351
656,239
9,758,114
2,162,285
141,633
1,817,852
93,636
74,222
33,770
677,291
4,726,400
451,458
239,224
186,814
24,932
181,406
17,506
7,577
4,576
598
109
202,537
253,723
11,785
16,136
4,672
16,662
113,293
139,794
118,739
88,621
192,110
888,840
236,106
365,496
66,887
821,587
30,274
65,931
32,826
4,368
39,163
6,001
374,963
241,810
61,006
338,568
30,576
135,370
30,490
24,217
467,607
96,498
164,532
1,567
9,273
71,392
13,270
6,992
2,692
2,604
47,030
1,564
102,028
12,585
78,291
443,844
23,754
40,655,308
1,670,250
474,064
7,851,171
1,554,071
2,395,724
274,303
125,122
849,479
240,084
5,370,215
264,805
13,284
376,425
206,169
1,419,928
42,670
3,637
77,322
15,577
4,579,392
156,323
40,132
603,717
146,384
1,764,864
14,273,617
1,224,014
900,073
592,801
1,405,625
11,324,173
1,033,851
674,501
479,474
182,374
808,297
66,059
135,239
62,302
43,638
721,026
13,391
31,443
11,772
19,869
106,009
12,318
5,877
2,765
113,358
1,314,112
98,395
53,013
36,488
11,022
580,797
101,225
261,844
2,497,950
176,063
New York............................
North Carolina...................
North Dakota....................
Ohio.......................................
Oklahoma............................
734 10,608,411
226
608,989
153
110,688
654 2,040,085
385
626,349
15,896,578
730,806
340,265
3,784,621
688,511
Oregon..................................
Pennsylvania......................
Rhode Island......................
South Carolina...................
South Dakota.....................
69
947
122,121
563,724
4,722,099
492,960
332,570
245,520
Tennessee............................
Texas.....................................
Utah......................................
Vermont...............................
Virginia................................
297
919
55
74
315
670,072
3,013,936
165,466
54,036
637,222
732,999
2,553,487
264,565
118,149
873,223
148,785
459,352
38,850
27,712
155,524
900,038
3,023,930
270,311
213,668
880,750
36,169:
153,197)
6,187
4,403
31,074
2,488,063
9,203,902
745,379
417,968
2,577,793
1,741,956
6,484,442
563,007
358,445
1,912,051
211,631
837,846
86,693
16,480
247,352
345,342
1,254,252
46,127
1,524
211,393
27,122
74,213
6,061
2,214
28,908
162,012
553,149
43,491
39,305
178,089
Washington.........................
West Virginia......................
Wisconsin............................
Wyoming..............................
121
565,130
266,633
774,288
88,841
789,464
458,510
1,598,631
133,711
247,905
70,789
266,218
15,397
987,519
331,671
1,071,744
93,568
30,178
11,074
29,975
2,421
2,620,196
1,138,677
3,740,856
333,938
2,137,517
865,172
3,128,548
260,968
213,173
125,964
218,359
41,279
84,187
45,324
152,724
11,552
20,953
6,974
13,333
1,447
164,366
95,243
227,892
18,692
34,357
397
84,311
927
3,778
54,989
952
59,253
916
133,205
7,283
139,894
1,381
441,233
19,493
22,026
363,708
5,962
91,896
912
321,693
10,725
11,660
184,717
4,255
39,449
282
77,723
8,595
10,137
98,206
1,175
6,816
153
35,312
39,743
345
1,591
9
8,322
14,340
13,223
14,140
77
1,533
31
3,857
3,785
70,596
2,964
37,410
59
187,785
4,226
1,240
184,240
1,624
200
27,610
Other area
Alaska...................................
American Samoa................
Hawaii..................................
Mariana Islands7...............
Panama Canal Zone7........
Puerto Rico7........................
Virgin Islands.....................
8
109
335
51
21
149
170
182
557
52
19
1
9
11
2
357,284
2,825,860
168,454
246,480
226
12,050
34
3
2,648
173
3
24,939
72
43,796
426
1 Includes 21 noninsured banks of deposit (2 in Colorado, 13 in Georgia, 2 in Iowa, and 4 in Texas) for which asset, liability, and capital account data are not available.
2 Demand and time deposits of individuals, partnerships, and corporations, certified and officers’ checks, cash letters of credit, etc.
3 Deposits of the United States Government and of States and subdivisions.
4 Interbank deposits and postal savings deposits.
5 Includes Puerto Rico and the Virgin Islands.
6 Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone.
O
7 Includes asset and liability data for the following branches of insured banks in continental United States: 3 noninsured branches in the Mariana Islands (2 in Guam and
1 in Saipan); 4 noninsured branches in the Panama Canal Zone and 9 insured branches in Puerto Rico. Data for these branches are not included in the figures for the States in
which the parent banks are located.
Back figures, 191^5-1951: See the Annual Report for 1951, pp. 146-147, and earlier reports.
BANKS
417,953
47,333
77,794
1,056,127
142,408
OPERATING
417
OF
Nebraska..............................
Nevada.................................
New Hampshire.................
New Jersey..........................
New Mexico........................
LIABILITIES
561,784
645,845
124,403
486,001
1,247,092
AND
380
167
96
165
368
ASSETS
Kentucky.............................
Louisiana..............................
Maine...................................
Maryland.............................
Massachusetts....................
Table 109.
A
ssets
and
L ia b il it ie s
op
O p e r a t in g I n s u r e d B a n k s
D ecem ber
31, 1952,
June
in
the
30, 1952,
U n it e d St a t e s
and D e ce m b e r
(C o n t in e n t a l
U. S.
and
Oth er A
r e a s ),
31, 1951
h-*.
oo
(Amounts in thousands of dollars)
Insured commercial banks1
All insured banks
Assets
June 30,
1952
Dec. 31,
1951
Dec. 31,
1952
June 30,
1952
Dec. 31,
1951
Total assets............................................................................ 205,293,919 193,222,175 194,578,227 186,682,180 175,339,474 177,449,151
June 30,
1952
Dec. 31,
1951
18,611,739
17,882,701
17,129,076
44,299,249
40,318,023
44,241,808
731,569
756,174
695,271
2,776,754
19,911,777
2,749,835
19,809,084
2,384,038
19,331,231
2,685,709
19,910,524
92,283
1,392
75,030
1,272
91,045
1,253
10,364,239
253,277
40,005
8,625,105
11,954,486
224,865
48,929
10,020,268
11,479,724
41,961
75,000
10,143,645
9,929,047
34,931
40,005
8,598,771
66,916,304
67,520,274
62,408,171
60,186,402
60,598,835
6,593,342
6,729,902
6,921,439
7,282,152
7,628,585
5,504,308
7,552,399
11,325,691 11,739,757
3,716,878
2,594,867
19,859,577 18,350,452
7,096,592 11,205,784
7,973,044
5,362,222
2,687,372
26,569 .........22,196
6,091,890
7,663,625
11,124,643
2,530,683
19,110,107
8,001,829
3,370,776
2,268,004
24,845
7,222,718
7,535,527
11,273,671
2,486,509
19,644,837
7,024,142
3,055,244
2,334,965
112,343
12,418
19,807
1,336,854
145,445
1,220,470
3,730,427
37,774
6,168,406
7,722,792
11,148,082
3,855,155
19,274,863
8,965,563
7,324,395
2,420,215
36,833
76,516
59,167
23,439
1,324,472
164,756
963,734
3,953,619
152,211
11,988
59,434
16,872
52,020
1,230,369
214,740
72,450
4,917,800
352,407
5,347
Other securities— total...................................................
16,209,028
15,824,647
2,336,756
2,083,894
9,865,048
5,574,713
13,872,272
10,006,206
13,073,973
10,303,933
5,469,385
14,820,037
9,153,703
13,740,753
Obligations of States and subdivisions............................
Other bonds, notes, and debentures3..............................
Corporate stocks:
Federal Reserve banks....................................................
Other corporate stocks....................................... ...........
3,509,325
9,652,108
3,742,570
9,016,262
3,720,191
297,727
5,317,587
1,960,060
212,940
1,832,143
252,600
183,110
245,158
139,728
236,665
252,542
58
100,973
236,612
100,908
56
104,199
245,102
112,082
78,911
38,755
11,174
Total securities.....................................................
85,210,541
82,740,951
82,340,311
76,280,443
73,927,155
73,672,808
8,930,098
8,813,796
8,667,503
Obligations of the U. S. Government, direct and
guaranteed— total.................................................... 69,001,513
Direct:
Treasury bills.....................................................................
Treasury certificates of indebtedness..........................
Treasury notes...................................................................
United States non-marketable bonds2.......................
Other bonds maturing in 5 years or less....................
Other bonds maturing in 5 to 10 years ....................
Other bonds maturing in 10 to 20 years..................
Other bonds maturing after 20 years........................
Guaranteed obligations (FHA debentures)..................
7,740,928
5,516,726
11,759,564
3,931,721
18,495,897
12,426,254
9,092,649
397,302
435,192
402,922
11,557,184
183,831
218,346
41,034
215,677
48,929
9,998,428 .........19,295 .........26,334 .........21,840
21,222 .........15,578
1,746,064
137,441
1,597,396
53
CORPORATION
44,937,079
2,459,068
19,332,503
INSURANCE
41,074,197
Currency and coin................................................................
2,842,118
Reserve with Federal Reserve banks (member banks) 19,810,476
Demand balances with banks in the United States
(except private banks and American branches of
foreign banks).................................................................... 11,882,646
257,638
Other balances with banks in the United States.........
75,000
Balances with banks in foreign countries......................
Cash items in process of collection.................................. 10,162,940
DEPOSIT
Gash, balances with other banks, and cash col
lection items—total................................................. 45,030,818
Dec. 31,
1952
FEDERAL
Dec. 31,
1952
Insured mutual savings banks
63,824,310
903,935
64,728,245
58,860,741
851,354
59,712,095
57,370,794
813,589
58,184,383
8,690,843
154,694
8,845,537
8,043,020
163,287
8,206,307
7,522,887
164,964
7,687,851
25,255,327
25,810,387
27,815,944
25,232,047
25,787,675
24,907
23,280
22,712
74,014
278,923
683,769
74,014
278,923
3,497,510
2,105,942
3,053,496
1,570,593
3,140,789
2,050,295
3,496,032
2,105,942
3,052,222
1,570,593
1,497
1,478
1,274
944,542
23,046,854
1,077,635
962,409
22,092,752
1,018,61*7
1,083,439
15,615,871
1,036,500
943,261
14,925,215
1,01+0,977
961,293
14,487,412
982,711
1,355
8,752,943
58,191+
1,281
8,121,639
36,658
1,116
7,605,340
35,936
5,975,707
A,203,509
8,202,51^
3,587,1+89
11,417,027
153,430
1,423,756
5,61+9,203
U,029,731+
7,939,915
3,1+55,253
10,451,397
148,838
1,503,439
3,607,833
2,971,31+9
5,1+16,693
2,583,1+96
12,641,861
157,357
1,538,920
3,372,11+1
2,913,310
5,127,582
2,1+71,205
11,363,425
153,430
1,418,729
3,351+,1+37
2,81+1+,U63
1,526,1+71+
2,882,086
1+,81+1+3730
3,168,220
1,155,592
2,1+23,1+1+8
10,399,389
57,398
148,838
1,498,038 ...........7,437
2,603,566
1,290,199
3,071+,932
1,116,281+
53,602
2,291+,766
1,11+7,61+8
3,095,185
1,031,805
52,008
Total loans and securities.................................... 157,725,694 149,644,712 147,233,992 140,104,753 132,787,896 131,043,602
1,410,907
1,054,064
231,271
27,383
1,414,150
1,028,685
262,113
29,112
1,370,241
999,431
249,115
28,972
1,315,650
964,355
228,292
24,814
94,240
92,723
98,189
94,240
92,723
98,189
1,017,415
328,600
376,081
47,437
265,297
1,034,349
289,832
386,557
56,371
301,589
996,249
330,275
344,443
41,780
279,751
864,028
328,600
307,684
44,018
183,726
863,314
289,832
321,024
52,813
199,645
21.9%
33.6
7.9
35.3
1.3
7.0
21.3%
34.6
23.1%
34.7
7.6
33.4
23.7%
33.5
7.4
34.2
1.2
1.2
7.0
6.7
23.0%
34.3
7.8
33.6
1.3
7.0
105,842
99,312
3,994
2,536
98,676
93,034
3,414
2,228
95,257
89,709
2,979
2,569
848,091
171,035
153,387
148,158
330,275
283,164 ........ 68,397 .........65,533 ........ 61,279
3,419
3,558
2,342
39,438
195,214
101,944
81,571
84,537
RATIOS
Percentages of total assets:
Cash and balances with other banks..............................
U. S. Government obligations, direct and guaranteed
Other securities.....................................................................
Loans and discounts............................................................
Other assets............................................................................
Total capital accounts.........................................................
8.2
34.6
1.3
7.2
24.9%
34.2
7.4
32.3
1.2
6.7
3 .9 %
35.4
12.6
46.7
1.4
9.3
4.2%
37.6
11.7
45.0
1.5
9.5
4.1 %
40.4
10.2
43.9
1.4
9.8
BANKS
1,468,917
1,092,465
252,529
31,200
16,190,390
OPERATING
Miscellaneous assets— to ta l.............................................
Customers’ liability on acceptances outstanding.........
Income accrued but not collected....................................
Prepaid expenses...................................................................
Other assets............................................................................
1,519,992
1,127,997
266,107
31,648
16,856,816
OF
Bank premises, furniture and fixtures, and other
real estate— to ta l..........................................................
Bank premises.......................................................................
Furniture and fixtures.........................................................
Real estate owned other than bank premises...............
Investments and other assets indirectly representing
bank premises or other real estate..............................
5,027* ...........5,40*1*
17,620,941
LIABILITIES
64,893,681
978,553
65,872,234
AND
66,903,761
1,014,641
67,918,402
ASSETS
Loans and discounts, net— to ta l.................................... 72,515,153
1,058,629
Valuation reserves4...................................................................
Loans and discounts, gross— to ta l................................ 73,573,782
Commercial and industrial loans (including open
market paper)................................................................... 27,840,851
Loans to farmers directly guaranteed by the Com683,769
Other loans to farmers (excluding loans on real
3,142,286
estate).................................................................................
2,050,295
Other loans for the purpose of purchasing or carrying
1,084,794
securities.............................................................................
Real estate loans— total..................................................... 24,368,814
1,091+,691+
Farm land...........................................................................
Residential properties:
Insured by F H A ...........................................................
6,152,296
Insured or guaranteed by V A ....................................
A,1+97,823
8,581+,913
Not insured or guaranteed by F H A or V A .............
Other properties..................................................................
3,739,088
Other loans to individuals................................................. 12,699,259
Loans to banks......................................................................
157,357
All other loans (including overdrafts)............................
1,546,357
T a b le
109.
A
ssets
and
L ia b il it ie s
D
of
ecem ber
O p e r a t in g I n s u r e d B
31, 1952,
anks
in
the
(C o n t in e n t a l U . S.
and
O t h e r A r e a s ),
31, 1951— Continued
Insured commercial banks1
All insured banks
Liabilities and capital
U n it e d St a t e s
J u n e 30, 1952, a n d D e c e m b e r
(Amounts in thousands of dollars)
Insured mutual savings banks
T ota l liabilities and capital a cco u n ts............................ 205,293,919 193,222,175 194,578,227 186,682,180 175,339,474 177,449,151
18,611,739
17,882,701
17,129,076
Business and personal deposits— t o t a l...................... 157,411,509 147,143,467 150,270,859 140,639,327 131,073,895 134,914,676
Deposits of individuals, partnerships, and cor
porations— demand..................................................... 98,917,066 90,949,231 95,713,341 98,897,813 90,936,853 95,701,243
Deposits of individuals, partnerships, and cor
porations—time........................................................... 55,540,770 53,459,125 51,393,354 38,794,901 37,409,999 36,056,623
Certified and officers’ checks, cash letters of credit
and travelers’ checks outstanding, and amounts
3,164,164
2,727,043
2,946,613
3,156,810
2,735,111
due to Federal Reserve banks...................................
2,953,673
16,772,182
16,069,572
15,356,183
19,253
12,378
12,098
16,745,869
16,049,126
15,336,731
7,060
8,068
7,354
9,666
10,301
G overnm ent deposits— to ta l.................................
United States Government— demand...................
United States Government— time.........................
States and subdivisions— demand.........................
States and subdivisions— time...............................
June 30,
1952
Dec. 31,
1951
15,697,660
16,421,211
13,457,573
15,686,714
16,411,545
13,447,272
10,946
4,939,177
326,455
8,819,091
1,612,937
5,805,921
291,726
8,713,372
1,610,192
3,354,532
262,478
8,315,612
1,524,951
4,936,857
326,449
8,817,570
1,605,838
5,804,419
291,679
8,712,097
1,603,350
3,352,195
262,417
8,314,292
1,518,368
2,320
15,032,881
13,138,681
14,811,554
15,030,986
13,137,029
14,810,001
1,895
1,652
1,553
11,290,417
35,163
1,339,032
441,672
32,397
12,974,702
28,766
1,380,772
399,877
27,437
12,955,539
42,279
1,437,724
562,903
32,541
11,290,367
33,561
1,339,032
441,672
32,397
12,974,677
27,238
1,380,772
399,877
27,437
50
1,845
50
1,602
25
1,528
Demand........................................................................... 130,022,320 120,833,08b 12 b ,903,123 129,992,116 120,809,811 12b,879,989
T im e................................................................................. 58,119,730 55,870,275 53,636,863 U1,36 b,911 39,812,658 38,291,960
2,836,335
2,515,973
2,437,677
2,414,057
2,354,385
16,080,890
15,368,037
23,273
16,057,617
23,13 b
15,3bb,903
96,416
101,916
83,292
\89
450
7,780
2,048
7,333
65,681
15,451,329
4,611
3,203
9,463
79,139
12,536
2,362
12,562
74,267
T ota l liabilities (excluding capital a c c o u n ts). . 190,978,385 179,219,332 180,977,663 174,096,946 163,036,526 165,526,334
16,881,439
16,182,806
188,785
347,917
75,875
487,376
736,296
1..,000,086
91,334
307,894
73,345
384,746
622,524
1,036,130
38,436
357,487
75,339
326,836
625,081
1,014,498
2,739,919
16,785,023
30,20b
1 6,75 b ,819
37,986
357,487
67,559
324,788
617,748
948,817
2,337
i M61
1,320
6,583
12,955,589
44,124
1,437,724
562,903
32,541
T ota l deposits........................................................... 188,142,050 176,703,359 178,539,986 171,357,027 160,622,469 163,171,949
M iscellaneous liabilities— total
Bills payable, rediscounts, and other liabilities for
borrowed money..................................
Acceptances outstanding........................
Dividends declared but not yet payable
Income collected but not earned...........
Expenses accrued and unpaid................
Other liabilities................................................................
6
1,521
7,099
1,502
47
1,275
6,842
188,785
347,917
71,264
484,173
726,833
920,947
91,145
307,894
60,809
382,384
609,962
961,863
CORPORATION
Interbank and postal savings deposits— t o t a l.
Banks in the United States— demand..................
Banks in the United States— time........................
Banks in foreign countries— demand....................
Banks in foreign countries— time..........................
Postal savings...........................................................
Dec. 31,
1952
INSURANCE
Dec. 31,
1951
Dec. 31,
1951
DEPOSIT
June 30,
1952
June 30,
1952
FEDERAL
Dec. 31,
1952
Dec. 31,
1952
Capital accounts— total.................................................
Capital stock, notes, and debentures.............................
Surplus....................................................................................
Undivided profits..................................................................
Reserves..................................................................................
14,315,534
14,002,843
3,876,080
7,208,239
2,677,798
553,417
13,600,564
3,833,399
6,907,544
2,732,768
529,132
12,585,234
3,699,029
6,720,891
2,642,418
538,226
3,876,080
5,938,187
2,306,828
464,139
19,900,745
20,408,172
17,786,942
12,302,948
11,922,817
3,833,399
5,666,133
2,352,579
450,837
3,699,029
5,503,601
2,258,863
461,324
19,900,745
20,408,172
17,786,942
1,730,300
1,699,895
1,677,747
(5)
1,270,052
370,970
89,278
(5)
1,241,411
380,189
78,295
(5)
1,217,290
383,555
76,902
M EM O R AN D A
Common stock..................................................................
Capital notes and debentures.......................................
Preferred stock..................................................................
3,881,129
3,839,154
3,818,444
29,877
32,808
3,705,417
3,768,635
28,853
41,666
3,876,279
3,630,781
23,783
50,853
3,834,029
3,818,444
25,027
32,808
3,699,717
4,850
3,768,635
23,728
41,666
3,630,781
18,083
50,853
5,125
5,700
4,850
5,125
5,700
AND
Retirable value of preferred stock...................................
71,561
86,615
102,966
71,561
86,615
102,966
Number of banks..........................................................................
13,645
13,655
13,657
13,439
13,450
13,455
206
205
202
LIABILITIES
Capital stock, notes, and debentures:
Par or face value— total.............................................
ASSETS
Pledged assets and securities loaned.........................
BANKS
OPERATING
Back figures, 1934-1951: See the Annual Report for 1951, pp. 148-151, and earlier reports.
OF
1 Includes stock savings banks.
2 United States savings bonds, Treasury bonds (investment series A-1965, and B-1975-80), and depositary bonds.
3 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.
4 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.
5 Not reported separately. Included with “ Reserves."
E a r n in g s , E x p e n s e s , a n d
D iv id e n d s
of
Insured
B anks
Table 110.
Earnings, expenses, and dividends of insured commercial banks in the United States
(continental U. S. and other areas), 1944-1952
Table 111.
Ratios of earnings, expenses, and dividends of insured commercial banks in the
United States (continental U. S. and other areas), 1944-1952
Table 112.
Earnings, expenses, and dividends of insured commercial banks in the United States
(continental U. S. and other areas), 1952
By class of bank
Table 113.
Ratios of earnings, expenses, and dividends of insured commercial banks in the
United States (continental U. S. and other areas), 1952
By class of bank
Table 114.
Earnings, expenses, and dividends of insured commercial banks operating throughout
1952 in the United States (continental U. S. and other areas)
Banks grouped according to amount of deposits
Table 115.
Ratios of earnings, expenses, and dividends of insured commercial banks operating
throughout 1952 in the United States (continental U. S. and other areas)
Banks grouped according to amount of deposits
Table 116.
Earnings, expenses, and dividends of insured commercial banks in the United States
(continental U. S. and other areas), by State, 1952
Table 117.
Income, expenses, and dividends of insured mutual savings banks, 1952
Table 118.
Ratios of income, expenses, and dividends of insured mutual savings banks, 1952
Commercial banks
Reports of earnings, expenses, and dividends are submitted to the
Federal supervisory agencies on either a cash or an accrual basis.
Earnings data are included for all insured banks operating at the
end of the respective years, unless indicated otherwise. In addition,
appropriate adjustments have been made for banks in operation during
part of the year but not at the end of the year. Data for 9 insured
branches in Puerto Rico of insured national banks in New York are
not available.
bility averages are not strictly comparable with the earnings data,
but the differences are not large enough to affect the totals significantly.
Some further incomparability is also introduced into the data by class
of bank by shifts between those classes during the year.
Assets and liabilities shown in Table 114, and utilized for computation
of ratios shown in Table 115, are for the identical banks to which the
earnings data pertain. For national banks and State banks members
of the Federal Reserve System, assets and liabilities are as of December
31, 1952, and for other banks, are averages of beginning, middle, and
end of the year.
On December 8, 1947, the Commissioner of Internal Revenue issued
Comm. Mimeograph Coll. No. 6209 entitled, “Reserve Method of
Accounting for Bad Debts in the Case of Banks.” (See pp. 82-84 in
the 1947 Annual Report.) Under this ruling, banks are permitted to
accumulate limited amounts of tax-free reserves for bad debt losses on
loans. As a result, since 1947 unusually large amounts were set aside
from income to valuation reserves, and net profits were decreased
accordingly. The uniform report of earnings and dividends for com
mercial banks was revised in 1948 to show separately for the first time
charge-offs and transfers to valuation reserves as well as recoveries
and transfers from valuation reserves. Also, the actual recoveries and
losses that are credited and charged to valuation reserves were reported
as memoranda items.
A uniform report of income, expenses, and dividends for mutual
savings banks was adopted by the Corporation for the calendar year
1951. Summaries of these reports for 1952 are given in Tables 117 and
118. Historical data are omitted because of lack of comparability.
The new form attempts to present operations on a basis accurately
reflecting actual income and profit and loss, and provides more detailed
information regarding losses and valuation adjustments. For a dis
cussion of the history and principles of this uniform report see pp.
50-52 in Part Two of the 1951 Annual Report.
Averages of assets and liabilities shown in Tables 110-113 and 116
are based upon figures at the beginning, middle, and end of each year,
as reported by banks operating on those dates, adjusted to exclude
asset and liability figures for insured branches in Puerto Rico of in
sured national banks in New York. Consequently, the asset and lia
State banks members of the Federal Reserve System: Board of
Governors of the Federal Reserve System.
M u t u a l sav in gs b a n k s
S ou rces o f d a ta
National banks, and State banks not members of the Federal Reserve
System in the District of Columbia: Office of the Comptroller of the
Currency.
Other insured banks: Federal Deposit Insurance Corporation.
T a b le 1 10 .
E a r n i n g s , E x p e n s e s , a n d D iv id e n d s o f I n s u r e d C o m m e r c ia l B a n k s in t h e
U n ite d S ta te s
( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) ,
1944-1952
(Amounts in thousands of dollars)
Earnings or expense item
1945
1944
(
{
1947
1948
1949
1950
1951
1952
2,862,875
1,218,517
176,620
936,554
14,564
124,696
3,097,670
1,079,535
179,408
1,263,788
18,386
147,761
3,403,586
1,008,138
189,559
1,577,633
22,315
173,791
3,606,879
1,013,515
201,691
1,733,690
26,090
194,013
3,930,696
1,015,456
225,425
1,976,100
31,724
212,272
4,395,411
983,662
249,495
2,390,106
34,595
230,507
4,931,688
1,099,059
276,993
2,742,100
42,295
244,696
90,617
120,317
134,782
97,995
140,340
153,589
97,264
144,734
166,794
97,456
156,678
178,016
95,420
160,430
182,030
104,602
180,674
184,445
116,140
192,313
198,593
204,967
199,713
121,868
1,522,778
266,018
424,881
1,762,634
309,220
521,709
1,981,787
344,845
602,266
2,163,514
381,756
662,696
2,283,727
410,685
700,065
2,444,534
446,043
755,681
2,701,313
486,300
864,519
3,028,575
530,035
965,197
12,907
186,773
97,307
14,610
233,321
2,448
98,683
16,936
268,624
2,364
96,314
18,954
298,274
2,656
103,516
20,859
316,570
3,432
106,163
22,608
328,010
3,582
113,569
24,745
343,040
4,296
128,101
27,343
385,344
9,667
135,590
30,871
458,059
20,921
139,290
41,845
390,036
40,329
442,488
40,850
506,617
42,276
569,000
48,271
623,767
53,988
651,219
59,469
683,159
65,845
726,707
74,953
809,252
Net current operating earnings.......................
858,225
959,500
1,100,241
1,115,883
1,240,072
1,323,153
1,486,164
1,694,100
1,903,112
361,726
509,329
408,608
262,042
Recoveries, transfers from reserve accounts,
and profits— to ta l...........................................
On securities:
Recoveries............................................................ |
Transfers from reserve accounts...................
Profits on securities sold or redeemed.........
On loans:
Recoveries........................................................... |
Transfers from reserve accounts...................
All other...................................................................
Losses, charge-offs, and transfers to reserve
accounts— to ta l...............................................
On securities:
Losses and charge-offs...................................... |
Transfers to reserve accounts........................
On loans:
Losses and charge-offs...................................... |
Transfers to reserve accounts........................
All other...................................................................
1,112
59,515
208,700
45,360
100,189
67,014
74,499
53,187
65,894
67,687
48,806
265,881
264,122
283,175
294,286
110,439
132,870
132,254
118,498
70,090
85,352
55,901
75,351
71,253
79,668
120,370
55,418
92,778
122,364
129,834
266,764
84,224
54,890
266,439
213,187
245,461
169,233
144,146
f
[
29,221
24,161
60,025
16,412
26,672
73,196
14,718
38,639
90,469
15,292
12,285
56,563
11,191
20,492
33,806
(
{
39,748
48,934
64,350
23,142
28,220
45,546
28,506
29,971
43,157
22,595
28,453
34,046
22,004
27,330
29,324
485,753
379,824
366,932
395,687
362,444
(
\
78,590
40,941
38,671
33,044
38,721
54,518
83,756
31,680
97,512
29,531
f
{
32,393
278,666
55,163
29,064
221,167
57,878
23,030
191,248
59,414
21,215
204,202
54,836
23,637
154,510
57,253
CORPORATION
1,356,680
240,354
386,346
INSURANCE
Current operating expenses— to ta l................
Salaries— officers....................................................
Salaries and wages— employees.........................
Fees paid to directors and members of execu
tive, discount, and other committees..........
Interest on time and savings deposits.............
Interest and discount on borrowed money. . .
Taxes other than on net income........................
Recurring depreciation on banking house,
furniture and fixtures.......................................
Other current operating expenses.....................
DEPOSIT
2,482,278
1,132,977
167,198
707,738
18,860
109,789
FEDERAL
2,214,905
Current operating earnings— to ta l................
Interest on U. S. Government obligations. . . | 1,090,253
Interest and dividends on other securities.. . .
680,708
Interest and discount on loans..........................
17,320
Service charges and fees on bank’s loans........
107,375
Service charges on deposit accounts.................
Other service charges, commissions, fees, and
78,485
collection and exchange charges....................
112,486
Trust department..................................................
128,278
Other current operating earnings......................
1946
954,070
1,204,707
1,225,674
1,083,639
1,020,758
1,156,514
1,364,690
1,467,645
1,684,813
202,821
298,795
323,328
302,242
275,422
325,148
187,032
15,789
559,475
277,538
21,257
301,048
22,280
283,046
19,196
427,776
258,490
16,932
304,572
20,576
694,883
402,582
25,194
530,810
28,664
662,277
32,606
Net profits after income taxes........................
751,249
905,912
902,346
781,397
745,336
831,364
936,915
908,175
989,931
Dividends and interest on capital— tota l...
253,193
274,438
298,983
315,215
331,833
354,144
418,860
Dividends declared on preferred stock and
interest on capital notes and debentures...
Cash dividends declared on common stock...
391,249
441,971
13,645
239,548
11,769
262,669
8,345
290,638
5,981
309,234
5,230
326,603
5,093
349,052
4,333
386,916
3,876
414,984
3,675
438,298
Net additions to capital from profits...........
498,056
631,474
603,363
466,182
413,503
477,220
545,666
489,315
547,961
Memoranda
Q)
0)
C1)
i1)
0)
0)
«
(*)
C1)
7,224
10,844
2,600
19,645
3,565
223,507
2,363
28,477
4,355
31,508
0)
C1)
0)
(l)
18,031
46,487
6,104
72,978
6,324
257,733
17,725
64,735
25,598
64,607
AND
Average assets and liabilities3
Assets— total.......................................................
0)
EXPENSES,
Recoveries credited to reserve accounts (not
included in recoveries above):
On securities............................................................
On loans...............................................................
Losses charged to reserve accounts (not in
cluded in losses above):
On securities............................................................
On loans...................................................................
0)
145,217,438
151,896,770
148,170,261
150,726,513
151,566,078
158,986,894
33,286,775
81,835,381
7,556,923
27,768,296
1,449,395
34,279,792
70,229,835
8,315,081
33,863,334
1,482,219
179,803,463
Loans and discounts.............................................
All other assets.......................................................
31,236,090
82,417,236
6,623,089
23,500,772
1,440,251
36,247,026
64,291,298
8,872,676
39,650,962
1,664,551
169,207,394
28,042,727
67,231,161
6,088,482
20,310,112
1,496,381
35,683,829
63,080,739
9,387,984
41,670,879
1,742,647
36,006,423
63,846,830
11,043,342
46,250,272
1,840,027
40,373,273
59,711,922
12,554,632
54,533,221
2,034,346
42,952,808
61.065,059
13,562,462
59,999,743
2,223,391
Liabilities and capital— total.........................
151,896,770
148,170,261
150,726,513
151,566,078
158,986,894
141,829,678
109,890,600
31,939,078
1,057,079
9,010,013
137,537,907
103,159,25k
3k,378,653
1,104,386
9,527,968
139,517,461
10k,195,063
35,322,398
1,257,852
9,951,200
169,207,394
135,948,387
108,968,917
26,979,1+70
934,381
8,334,670
179,803,463
139,764,394
103,862,159
35,902,235
1,380,578
10,421,106
146,269,294
109,822,638
36 ,kk6,656
1,710,204
11,007,396
155,460,465
118,189,171
37,271,29k
2,131,162
11,615,767
165,031,495
125,213,8k2
39,817,653
2,501,055
12,270,913
Number of active officers, December 3 1 .............
Number of other employees, December 31.........
56,494
229,377
59,119
245,275
62,697
271,395
65,740
284,072
67,609
292,015
69,439
296,308
71,566
312,324
73,806
334,961
76,754
358,325
Number of banks, December 31............................
13,268
13,302
13,359
13,403
13,419
13,436
13,446
13,455
13,439
* xvevise u .
BANKS
Note: Due to rounding, earnings data of State banks for 1949 through 1952 may not add precisely to the indicated totals.
1 Not available.
INSURED
145,217,438
114,682,390
93,267,11^
21,1+15,276
768,280
7,718,193
OF
123,168,863
Total deposits.........................................................
Demand deposits.................................................
Time and savings deposits................................
Borrowings and other liabilities........................
Total capital accounts..........................................
DIVIDENDS
123,168,863
Cash and due from banks...................................
United States Government obligations...........
EARNINGS,
Net profits before income taxes.....................
Taxes on net income— total............................
* Asset and liability items are averages of figures reported at beginning, middle, and end of year.
Back figures, 193^-19^3: See the following Annual Reports: 1950, pp. 250-251, and 1941, pp. 158-159.
Cn
Table 111.
R
a t io s
of
E a r n in g s , E x p e n s e s ,
and
D
iv id e n d s
U n i t e d S t a t e s ( C o n t i n e n t a l U . S.
Earnings or expense item
of
I n s u r e d C o m m e r c ia l B a n k s
O t h e r A r e a s ),
1949
1948
1947
in
th e
1944-1952
1952
1951
1950
$ 100.00
29.62
5.57
47.01
5.11
$ 100.00
28.10
5.59
48.79
5.38
$ 100.00
25.83
5.74
51.08
5.40
$ 100.00
22.38
5.68
55.17
5.24
$ 100.00
22.29
5.62
56.46
4.96
3.54
10.87
3.65
10.28
3.42
10.27
3.14
10.06
2.86
2.65
9.49
2.66
9.29
2.64
8.89
2.47
9.83
Current operating expenses— to ta l.................
Salaries, wages, and fees.....................................
Interest on time and savings deposits.............
Taxes other than on net income........................
Recurring depreciation on banking house,
furniture and fixtures.......................................
Other current operating expenses......................
61.25
28.88
8.43
4.39
61.35
28.42
9.40
3.98
61.57
29.62
9.38
3.36
63.98
31.19
9.63
3.34
63.57
31.30
9.30
3.12
63.32
31.42
9.10
3.15
62.19
31.20
8.73
3.26
61.46
31.35
8.77
3.09
61.41
30.95
9.29
2.82
1.89
17.66
1.62
17.93
1.43
17.78
1.36
18.46
1.42
18.43
1.50
18.15
1.51
17.49
1.50
16.75
1.52
16.83
N et current operating earnings.......................
38.75
38.65
38.43
36.02
36.43
36.68
37.81
38.54
38.59
1.80
1.71
1.05
1.88
2.09
1.34
.75
2.26
1.44
.82
2.38
1.51
.87
2.47
1.54
.93
2.60
1.60
2.74
1.00
1.06
A m ounts per $100 of total assets 1
Current operating earnings— total........................
Current operating expenses— total........................
Net current operating earnings..............................
Recoveries, transfers from reserve accounts,
and profits— total..............................................
Losses, charge-offs, and transfers to reserve
accounts— total......................................................
Net profits before income taxes.............................
Net profits after income taxes................................
Am ounts per $100 of total capital
accounts 1
Net current operating earnings..............................
Recoveries, transfers from reserve accounts,
and profits— total..................................................
Losses, charge-offs, and transfers to reserve
accounts— total......................................................
Net profits before income taxes.............................
Taxes on net income..................................................
Net profits after income taxes................................
Cash dividends declared...........................................
Net additions to capital from profits....................
1.10
8.20
1.68
.70
.66
1.16
.72
.29
.35
.27
.18
.18
.14
.16
.10
.08
.22
.18
.81
.59
.20
.32
.73
.53
.68
.49
.25
.76
.55
.23
.77
.61
.18
.83
.62
.59
.23
.87
.54
.94
.55
11.12
11.51
12.21
11.71
12.46
12.70
13.50
14.58
15.51
4.69
6.11
4.53
2.75
2.68
2.04
2.23
1.46
1.17
3.45
12.36
2.63
9.73
3.28
6.45
3.16
14.46
3.59
10.87
3.29
7.58
3.14
13.60
3.59
3.09
11.37
3.17
3.64
10.01
8.20
3.32
6.69
3.31
4.89
4.88
10.26
2.77
7.49
3.33
4.16
3.33
12.40
3.89
8.51
3.55
4.96
3.41
12.63
4.81
7.82
3.61
4.21
2.95
13.73
5.66
8.07
3.60
4.47
11.10
3.12
7.98
3.40
4.58
.86
.20
CORPORATION
$ 100.00
34.85
5.79
41.39
4.77
(
\
INSURANCE
$100.00
42.56
6.17
33.22
4.36
49.22
DEPOSIT
31.52
4.85
$ 100.00
45.64
6.74
29.27
4.42
$ 100.00
FEDERAL
A m ounts per $100 of current operating
earnings
Current operating earnings— to ta l.................
Interest on U . S. Government obligations. . . J
Interest and dividends on other secutiries___
Income on loans.....................................................
Service charges on deposit accounts.................
Other service charges, commissions, fees, and
collection and exchange charges....................
Other current operating earnings......................
1946
1945
1944
and
3.09
1.46
.12
.10
.87
3.43
1.56
3.79
1.60
.14
4.04
1.64
.17
4.22
4.34
.11
1.68
1.66
4.45
1.71
.19
.19
.20
.20
.87
.84
.87
.90
.91
.94
1.03
1.15
100.00
100.00
100.00
100.00
100.00
100.00
100.00
22.77
54.59
4.94
16.49
21.91
53.88
4.98
18.28
.95
100.00
23.14
47.40
5.61
22.85
24.05
42.65
5.89
26.31
100.00
22.65
40.16
6.94
29.09
1.16
23.86
35.29
7.42
32.23
4.64
1.84
1.10
1.20
23.89
33.96
7.54
33.37
1.24
Liabilities ajid capital— to ta l............................
Total deposits.........................................................
Demand deposits.................................................
Time and savings deposits................................
Borrowings and other liabilities........................
Total capital accounts..........................................
100.00
100.00
100.00
100.00
100.00
100.00
93.11
75.72
17.39
.62
6.27
100.00
100.00
93.62
75.04
18.5S
.64
5.74
92.82
69.62
23.20
.75
6.43
92.56
69.13
23.43
.84
6.60
100.00
93.37
72.34
21.03
.70
5.93
92.21
68.52
23.69
.91
91.88
69.85
22.03
1.26
6.88
92.00
69.08
22.92
1.08
6.92
6.86
91.78
69.64
22.14
1.39
6.83
Number of banks, December 31............................
13,268
13,302
13,359
13,403
13,419
13,436
13,446
13,455
13,439
1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
Back figures, 1984-191*3: See the following Annual Reports: 1950, pp. 252-253, and 1941, pp. 160-161.
OF
INSURED
BANKS
DIVIDENDS
1.00
23.55
41.62
6.19
27.49
1.15
AND
1.21
21.51
56.76
4.56
16.18
.99
EXPENSES,
Assets and liabilities per $100 of total
assets 1
Assets— to ta l.............................................................
Cash and due from banks...................................
United States Government obligations...........
Other securities......................................................
Loans and discounts.............................................
All other assets.......................................................
3.44
1.49
EARNINGS,
Special ratios 1
Income on loans per $100 of loans........................
Income on securities per $100 of securities.........
Service charges per $100 of demand deposits.. .
Interest paid per $100 ol time and savings
deposits.....................................................................
T a b le 112.
E a r n i n g s , E x p e n s e s , a n d D iv id e n d s o f I n s u r e d C o m m e r c ia l B a n k s in t h e
U n ite d S ta te s
( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) ,
1952
BY CLASS OF BANK
(Amounts in thousands of dollars)
Members F. R . System
Earnings or expense item
Total
National
State
Not
members
F. R.
System
Operating
throughout
the year
Operating
less than
full year1
4,915,283
1,096,289
276,473
2,735,627
42,176
243,777
16,405
2,770
520
6,473
119
919
121,868
204,967
199,713
52,596
80,604
120,944
30,269
113,824
53,949
39,003
10,539
24,820
121,521
200,722
198,700
347
4,245
1,013
3,028,575
530,035
965,197
1,655,395
270,729
533,368
845,178
137,536
301,881
528,002
121,770
129,948
3,016,649
527,681
961,705
11,926
2,354
3,492
Interest on time and savings deposits..................................................................
Interest and discount on borrowed money..........................................................
Taxes other than on net income............................................................................
Recurring depreciation on banking house, furniture and fixtures.................
Other current operating expenses..........................................................................
30,871
458,059
20,921
139,290
74,953
809,252
14,511
259,655
12,711
78,424
41,998
443,999
6,998
104,538
7,114
39,221
18,063
229,827
9,362
93,866
1,096
21,645
14,892
135,426
30,736
456,907
20,915
138,902
74,687
805,117
135
1,152
388
266
4,135
Net current operating earnings............................................................................
1,903,112
1,085,844
532,637
284,631
1,898,633
4,479
Recoveries, transfers from reserve accounts, and profits— to ta l...........
On securities:
144,146
81,000
44,007
19,139
143,121
1,025
11,191
20,492
33,806
6,884
14,844
20,162
3,070
4,802
8,885
1,237
846
4,759
11,085
20,388
33,705
106
104
22,004
27,330
29,324
11,600
14,949
12,561
5,366
9,785
12,098
5,038
2,596
4,665
21,948
27,310
28,685
639
362,444
202,608
103,771
56,065
361,030
1,414
97,512
29,531
61,088
16,738
22,762
10,302
13,662
2,491
96,873
29,530
639
23,637
154,510
57,253
11,275
83,597
29,910
4,377
49,299
17,031
'
7,985
21,614
10,312
23,492
154,182
56,953
145
328
300
Other current operating earnings...........................................................................
Salaries— officers.........................................................................................................
Salaries and wages— employees..............................................................................
Fees paid to directors and members of executive, discount, and other
On loans:
Losses, charge-offs, and transfers to reserve accounts— to ta l................
On securities:
On loans:
........ -
6
101
56
20
1
CORPORATION
812,634
170,023
42,498
472,429
6,361
46,962
INSURANCE
1,377,815
297,050
70,562
738,267
11,921
61,975
DEPOSIT
2,741,239
631,986
163,933
1,531,404
24,013
135,759
FEDERAL
4,931,688
1,099,059
276,993
2,742,100
42,295
244,696
Current operating earnings— to ta l.....................................................................
Interest on U. S. Government obligations.........................................................
Interest and dividends on other securities...........................................................
Interest and discount on loans...............................................................................
Service charges and fees on bank’s loans.............................................................
Service charges on deposit accounts......................................................................
Other service charges, commissions, fees, and collection and exchange
4,090
472,873
247,704
1,680,723
404,011
203,839
87,033
692,938
1,945
662,277
32,606
386,891
17,120
191,791
12,048
83,595
3,438
660,430
32,507
1,847
99
N et profits after incom e taxes..........................................................................
989,931
560,225
269,034
160,672
987,787
2,144
Dividends and interest on capital— to ta l............................... ....................
Dividends declared on preferred stock and interest on capital notes and
debentures...........................................................................................................
Cash dividends declared on common stock....................................................
441,971
258,507
131,923
51,541
440,986
985
3,675
438,298
397
258,110
1,913
130,011
1,365
50,177
3,606
437,382
69
916
N et additions to capital from profits............................................................
547,961
301,718
137,111
109,132
546,801
1,160
4,355
31,508
2,374
21,302
1,934
6,786
47
3,420
4,345
31,474
34
25,598
64,607
15,291
40,765
9,351
14,173
956
9,669
25,598
64,471
136
179,803,463
103,848,413
51,398,957
24,556,093
42,952,808
61,065,059
13,562,462
59,999,743
2,223,391
25,403,918
35,167,438
8,198,063
33,791,661
1,287,332
12,777,835
16,702,983
3,311,079
17,908,905
698,155
4,771,055
9,194,638
2,053,320
8,299,177
237,903
M em oranda
Recoveries credited to reserve accounts (not included in recoveries above)
On securities............................................................................................................
On loans..................................................................... ; ...........................................
Losses charges to reserve accounts (not included in losses above):
On securities............................................................................................................
On loans...................................................................................................................
DIVIDENDS
Average assets and liabilities 2
Assets— to ta l.............................................................................................................
Cash and due from banks...................................................................................
United States Government obligations...........................................................
Other securities......................................................................................................
Loans and discounts.............................................................................................
All other assets.......................................................................................................
10
24,556,093
179,803,463
103,848,413
51,398,957
165,031,495
125,213,842
39,817,653
2,501,055
12,270,913
95,288,907
73,190,101+
22,098,803
1,701,647
6,857,859
47,128,860
36,985,501
10,11+3,359
627,975
3,642,122
22,613,728
15,038,237
7,575,1+91
171,433
1,770,932
Number of active officers, December 3 1 .............................................................
Number of other employees, December 31.........................................................
76,754
358,325
36,663
196,517
15,978
104,333
24,113
57,475
76,436
357,250
318
1,075
Number of banks, December 31............................................................................
13,439
4,909
6,644
13,367
72
INSURED
BANKS
N ote: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.
OF
Liabilities and capital— to ta l............................................................................
Total deposits.........................................................................................................
Demand deposits.................................................................................................
Time and savings deposits................................................................................
Borrowings and other liabilities........................................................................
Total capital accounts..........................................................................................
1,8:
AND
964,236
694,883
EXPENSES,
1,684,813
Taxes on net incom e— to ta l..............................................................................
Federal.....................................................................................................................
State..........................................................................................................................
EARNINGS,
N et profits before incom e taxes.......................................................................
1 Includes banks operating less than full year and a few banks which engage primarily in fiduciary business.
2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
119
Back figures, 1931+-1951: See Table 110, pp. 114-115. See also the Annual Report for 1951, pp. 166-167, and earlier reports.
Table 113.
R a t io s
of
E a r n in g s , E x p e n s e s ,
and
U n i t e d S t a t e s (C o n t i n e n t a l
D
iv id e n d s
TJ.
S.
and
of
I n s u r e d C o m m e r c ia l B a n k s
O t h e r A r e a s ),
in
th e
1952
B Y CLASS OF B ANK
Members F. R. System
State
National
Amounts per $100 of current operating earnings
$100.00
$100.00
$100.00
22.29
5.62
56.46
4.96
2.47
23.06
5.98
56.74
4.95
1.92
7.35
21.56
5.12
54.45
4.50
8.20
$100.00
64.97
2.20
61.34
30.95
9.29
2.82
1.52
16.83
29.86
9.47
1.54
16.66
32.40
7.59
2.84
1.31
17.20
Net current operating earnings..............................................................................................................
38.59
39.61
38.66
35.03
2.74
2.64
1.59
1.05
.08
2.68
.20
.20
.20
3.31
2.15
1.16
.08
.23
.94
.55
.93
.54
.92
.52
Amounts per $100 of total assets1
Current operating earnings— total
..
.................................................................................................
Current operating expenses— total................................ ........................................................................................
Net current operating earnings.............................................................................................................................
Recoveries, transfers from reserve accounts, and profits— total...................................................................
Losses charge-offs, and transfers to reserve accounts— total........................................................................
Net profits before income taxes......................................................................................................................
Net profits after income ta x e s...............................................................................................................................
61.41
1.68
1.06
.08
2.86
1.64
1.04
.08
32.13
11.55
2.66
1.83
16.80
1.01
.65
Memoranda
Recoveries credited to reserve accounts (not included in recoveries above):
On securities . .
................................................................................................................................................
On loans....................................................................................................................................................................
Losses charged to reserve accounts (not included in losses above):
(2)
.02
(2)
.02
(2)
(2)
.01
.01
(2)
.04
.01
.01
.02
.04
.04
.03
C O R PO R ATION
60.39
Salaries, wages, and fees ....................................................................................................................................
Interest on time and savings deposits..............................................................................................................
Taxes other than on net income.........................................................................................................................
Recurring depreciation on banking house, furniture and fixtures.............................................................
Other current operating expenses.......................................................................................................................
Current operating expenses— t o t a l ......................................................................................................
INSURANCE
12.17
20.92
5.23
58.92
5.78
4.80
4.35
DEPOSIT
Interest End. dividends on other securities.....................................................................................................
Income on loans......................................................................................................................................................
Service charges on deposit accounts................................................................................................................
Other service charges, commissions, fees, and collection and exchange charges...................................
Other current operating earnings.......................................................................................................................
Not
members
F. R .
System
Total
FEDERAL
Earnings or expense item
Amounts per $100 of total capital accounts1
.03
*31
.05
!l9
10
•iy
.21
.22
.53
.26
.59
’39
•UO
•00
4.64
1.84
4 19
l!84
.17
1.03
K 7174
0.
11 *o£/
fiQ
Q1
1.15
4.60
1.84
.19
1.17
1 24
100.00
100.00
1AA AA
JLUU.UU
24.46
33.87
7.89
32154
1.24
11 UA UA . AU AU
24.86
32.50
1
A0
Q
±Q
v .4
Q 7i .44
AA
O
100.00
1AA
A
X
V V .A
uU
1AA AA
lUU.Utf
n o nn
71 96
61
30*85
(2\
\z)
Special ratios1
Income on loans per $100 of loans...........................................................
Income on securities per $100 of securities................................................
Service charges per $100 of demand deposits............................................
Interest paid per $100 of time and savings deposits...........................
Assets and liabilities per $100 of total assets1
Assets— total.............................................................................
Cash and due from banks...................................................................................
United States Government obligations.......................................................
Other securities..................................................................................
Loans and discounts.............................................................................................
All other assets.........................................................................................
Liabilities and capital— total...................................................
Total deposits.........................................................................................................
Demand deposits......................................................................................................................
Time and savings deposits.....................................................................................................
Borrowings and other liabilities....................................................................
Total capital accounts.....................................................................................
Number of banks, December 31.........................................................................................
.20
23.89
33.96
7.54
33.37
1.24
100.00
91.78
69.64
22.14
1.39
6.83
91.76
70.48
21.28
1.64
6.60
13,439
4 909
04.04
1 .0 0
Q1J. .ui/
KQ
S
19 *73
1 99
O .0
Q£
0
O
Q Q0 .0
fif
0
Uk
Q
7
.y 4
n
HQ
1 .uy
7A
7 01
1 886
f
0t, iXAA
044
BANKS
1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
2 Less than .005.
Back figures, 1934-1951: See Table 111, pp. 116-117. See also the Annual Report for 1951, pp. 168-169, and earlier reports.
fC.44
AA.
D
.0 1
INSURED
.04
.26
Memoranda
Recoveries credited to reserve accounts (not included in recoveries above):
On securities................................................................................................
On loans.........................................................................................................
Losses charged to reserve accounts (not included in losses above):
On securities...............................................................................................
On loans................................................................................................
OF
A 74
IfD£ . U
1.08
3.16
1 uQ . Qy Qy
i
A 09
Q
A 74
v .U
9 ,yi
Q1
Li
a
a
o . 1i o
DIVIDENDS
14 62
l !21
2.85
12.98
5.59
7.39
3*62
3.77
AND
15.83
1.18
2.95
14.06
5.89
8.17
3.77
4.40
EXPENSES,
15.51
1.17
2.95
13.73
5.66
8.07
3.60
4.47
EA R N IN G S,
Net current operating earnings.................................................................
Recoveries, transfers from reserve accounts, and profits— total...............
Losses, charge-offs, and transfers to reserve accounts— total. . .
Net profits before income taxes.............................................................
Taxes on net income.................................................................................
Net profits after income taxes...............................................................
Cash dividends declared..................................................................................
Net additions to capital from profits...........................................................
Table 114.
E
a r n in g s ,
E x p e n s e s , a n d D i v i d e n d s o f I n s u r e d C o m m e r c ia l B a n k s O p e r a t i n g T
i n t h e U n i t e d S t a t e s (C o n t i n e n t a l U . S. a n d O t h e r A r e a s )
hroughout
1952
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of—2
Earnings or expense item
All
banks1
Current operating earnings— to ta l............
Interest on U. S. Government obligations.
Interest and dividends on other securities..
Interest and discount on loans......................
Service charges and fees on bank’s loans...
Service charges on deposit accounts.............
Other service charges, commissions, fees and collection and exchange charges.....................
Trust department..............................................
Other current operating earnings..................
4,915,283
1,096,289
276,473
2,735,627
42,176
243,777
6,145
910
191
4,071
80
267
45,758
8,857
1,473
28,941
253
2,164
121,521
200,722
198,700
484
3,293
29
747
8,741
143
3,005
Current operating expenses— to ta l............
Salaries— officers................................................
Salaries and wages— employees.....................
Fees paid to directors and members of executive,
discount, and other committees................
Interest on time and savings deposits.........
Interest and discount on borrowed money.
Taxes other than on net income...................
Recurring depreciation on banking house,, furniture
and fixtures.....................................................
Other current operating expenses.................
3,016,649
527,681
961,705
4,025
1,760
513
28,867
11,355
4,065
30,736
456,907
20,915
138,902
97
335
4
203
807
3,565
30
74,687
805,117
81
1,034
Net current operating earnings...................
1,898,633
dollars)
438,305
103,016
25,844
248,954
2,968
28,611
927,817
219,458
53,880
503,049
6,444
63,126
380,565
84,088
18,663
210,132
3,300
21,181
2,518,643
542,877
146,746
1,385,413
26,562
95,528
17,828
1,087
9,871
13,650
3,384
11,879
22,728
22,654
36,479
8,537
16,123
18,540
46,260
157,221
118,036
94,807
33,022
15,684
279,294
77,372
57,512
280,602
61,648
70,663
606,085
106,559
180,738
247,543
38,689
83,129
1,475,425
197,279
549,405
1,221
2,707
14,139
107
4,281
7,284
47,882
293
13,009
5,450
49,498
414
13,084
7,052
100,449
1,718
27,982
1,861
33,610
1,229
11,445
5,479
207,430
17,122
67,679
685
7,142
2,497
22,370
8,766
67,179
9,058
70,789
19,221
162,369
7,088
70,492
27,290
403,743
2,120
16,891
58,922
165,028
157,703
321,731
133,021
1,043,218
143,121
155
1,170
2,936
8,270
8,839
19,131
10,660
91,959
11,085
20,388
33,705
5
3
7
52
19
69
168
30
232
570
244
1,000
1,445
469
1,460
1,733
1,618
4,025
1,168
1,181
2,253
5,945
16,826
24,659
21,948
27,310
28,685
107
5
28
222
741
67
1,758
129
620
3,471
759
2,226
2,340
954
2,173
3,332
2,900
5,525
1,411
2,504
2,144
8,792
19,990
15,748
361,030
317
2,679
8,508
29,152
31,814
68,683
31,087
188,792
96,873
29,530
14
246
18
1,059
253
6,777
725
9,884
865
22,933
2,932
9,403
2,255
46,557
22,482
23,492
154,182
56,953
184
1,315
612
489
3,289
2,355
1,552
6,520
9,193
5,938
4,052
11,366
5,649
4,497
26,411
11,912
1,302
13,021
5,107
2,333
91,159
26,261
1
2
66
50
222
thousand:s of
444,322
103,440
23,440
261,633
1,838
25,185
CORPORATION
(Amountsi in
153,729
33,642
6,237
93,433
733
7,716
$5,000,000 $10,000,000 $50,000,000
More than
to
to
to
$ 100, 000,000
$10, 000,000 $50,000,000 $ 100, 000,000
INSURANCE
Losses, charge-offs, and transfers to reserve ac
counts— to ta l..................................................................
On securities:
Losses and charge-offs..................................
Transfers to reserve accounts....................
On loans:
Losses and charge-offs..................................
Transfers to reserve accounts....................
All other...............................................................
$2 , 000,000
to
$5,000,000
DEPOSIT
Transfers from reserve accounts...............
Profits on securities sold or redeemed. . .
On loans:
Recoveries.......................................................
Transfers from reserve accounts...............
All other..............................................................
$1, 000,000
to
$2 , 000,000
FEDERAL
Recoveries, transfers from reserve accounts, and
profits— to ta l...................................................................
On securities:
$500,000
to
$1, 000,000
$500,000
or
less
272,178
112,594
946,387
201
49,142
47,565
1,577
111,965
108,648
3,317
49,472
47,898
1,574
418,841
395,429
23,412
Net profits after incom e taxes........................................
987,787
1,451
11,413
38,895
99,561
85,587
160,214
63,122
527,545
Dividends and interest on capital— to ta l...................
Dividends declared on preferred stock and interest
on capital notes and debentures..................................
Cash dividends declared on common stock...................
440,986
468
3,571
11,681
32,433
28,952
60,934
26,626
276,323
3,606
437,382
9
457
34
3,537
67
11,615
273
32,160
360
28,593
626
60,307
1,006
25,620
1,232
275,091
N et additions to capital from profits..........................
546,801
983
7,842
27,213
67,128
56,635
99,280
36,497
251,224
4,345
31,474
152
9
507
22
2,027
75
2,485
137
4,911
18
15
1,866
4,083
19,513
25,598
64,471
3
310
16
1,288
137
5,247
201
49
6,415
1,513
12,747
2,114
6,196
21,614
32,220
Average assets and liabilities 3
Assets— to ta l........................................................................... 185,183,924
43,981,146
United States Government obligations.......................... 61,877,948
13,790,973
Loans and discounts............................................................ 63,274,694
2,259,163
All other assets......................................................................
159,007
46,196
48,108
6,246
57,307
1,150
1,320,293
325,040
470,659
64,085
451,706
8,803
4,768,582
1,105,219
1,794,540
272,471
1,566,018
30,334
14,785,087
3,310,722
5,596,767
1,134,536
4,627,398
115,664
14,868,979
3,175,791
5,679,517
1,339,754
4,538,056
135,861
32,774,502
7,221,396
12,351,207
2,830,611
9,991,800
379,488
13,828,299
3,282,316
4,910,648
997,171
4,457,863
180,301
102,679,175
25,514,466
31,026,502
7,146,099
37,584,546
1,407,562
Liabilities and capital— to ta l.......................................... 185,183,924
169,974,560
Demand deposits................................................................ 128,98U,U57
Time and savings deposits............................................... 1*0,990,103
2,712,350
Borrowings and other liabilities.......................................
Total capital accounts........................................................ 12,497,014
159,007
139,269
115,156
2k,118
658
19,080
1,320,293
1,191,027
909,831
281,196
3,558
125,708
4,768,582
4,349,717
3 ,16k, 787
1,18k,930
12,355
406,510
14,785,087
13,624,899
9,k70,3k2
k,15k,557
45,804
1,114,384
14,868,979
13,766,594
9,187,025
k,579,569
73,845
1,028,540
32,774,502
30,443,454
20,857,336
9,586,118
253,126
2,077,922
13,828,299
12,868,461
9,722,035
3,lk6,k26
140,794
819,044
102,679,175
93,591,139
75,557,9k5
18,033,19k
2,182,210
6,905,826
Number of active officers, December 3 1 ............................
Number of other employees, December 31.......................
76,436
357,250
728
387
3,615
2,745
8,432
8,731
15,887
27,377
10,296
30,206
14,246
73,603
4,494
32,174
18,738
182,027
Number of banks, December 31...........................................
13,367
371
1,607
3,052
4,357
2,010
1,571
186
213
Memoranda
Recoveries credited to reserve accounts (not included in
recoveries above):
Losses charged to reserve accounts (not included in
losses above):
On securities..........................................................................
N ote: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.
1 This group of banks is the same as the group shown in Table 112 under the heading “ Operating throughout the year.”
2 Deposits are as of December 31, 1952.
*
Asset and liability items are averages of figures reported at beginning, middle, and end of year for banks submitting reports to FDIC and are as of December 31, 1952,
for banks not submitting reports to F D IC.
Back figures, 19^1-1951: See the Annual Report for 1951, pp. 170-171, and earlier reports.
BANKS
134,728
44,586
42,919
1,667
INSURED
144,146
14,456
13,721
736
OF
53,351
3,970
3,769
DIVIDENDS
15,383
507
482
24
AND
1,957
692,938
660,430
32,507
EXPEN SES,
1,680,723
EARNINGS,
Net profits before Income taxes......................................
Taxes on net income— to ta l.............................................
Federal....................................................................................
State........................................................................................
CO
Table 115.
R a t io s
of
banks
grouped
a c c o r d in g
to
am ount
of
hroughout
1952
124
E a r n i n g s , E x p e n s e s , a n d D iv id e n d s o f I n s u r e d C o m m e r c ia l B a n k s O p e r a t i n g T
in t h e U n i t e d S t a t e s ( C o n t i n e n t a l U . S . a n d O t h e r A r e a s )
d e p o s it s
Banks with deposits of—2
Earnings or expense item
banks1
$500,000
$500,000
to
$1,000,000
$100.00
$10,000,000 $50,000,000
$1,000,000
$2 ,000,000
$5,000,000
$2 ,000,000
$5,000,000
$10,000,000 $50,000,000
$100.00
21.88
$100.00
$100.00
$ 100.00
23.28
5.27
59.30
5.67
23.50
5.90
57.48
6.53
23.65
5.81
54.91
6.80
$ 100.00
22.10
4.90
56.08
5.57
$ 100.00
21.55
5.83
56.06
3.79
to
to
to
to
to
$100,000,000
More than
$100,000,000
19.36
3.22
63.80
4.73
2.47
8.13
7.87
2.34
7.20
1.69
2.10
4.01
2.47
3.11
3.48
2.45
6.38
2.24
9.11
1.84
10.93
Current operating expenses— to ta l...........................
Salaries, wages, and fees................................................
Interest on time and savings deposits........................
Taxes other than on net income..................................
Recurring depreciation on banking house, furniture
and fixtures....................................................................
Other current operating expenses................................
61.37
30.93
9.30
2.82
65.50
38.56
5.44
3.30
63.09
35.46
7.79
2.67
61.67
33.44
9.20
2.78
62.86
32.00
10.78
2.93
64.02
31.43
11.29
2.99
65.32
31.72
10.83
3.02
65.05
32.50
8.83
3.01
58.58
29.86
8.24
2.69
1.52
16.80
1.31
16.89
1.50
15.67
1.63
14.62
1.97
15.18
2.07
16.24
2.07
17.68
1.86
18.85
1.08
16.71
N et current operating earnings..................................
38.63
34.50
36.91
38.33
37.14
35.98
34.68
34.95
41.42
3.47
2.19
1.28
3.23
1.99
1.24
3.01
1.89
1.02
2.53
1.33
1.12
2.95
1.89
1.06
2.83
1.85
.98
2.75
1.79
.96
2.45
1.44
1.01
.08
.10
.09
.06
.05
.06
.06
.08
.09
.23
.81
.46
.18
.92
.51
A m ounts per $100 of total assets 3
Current operating earnings— total...................................
Current operating expenses— total..................................
Net current operating earnings.........................................
Recoveries, transfers from reserve accounts, and
profits— total.................................................................
Losses, charge-offs, and transfers to reserve accounts—
total....................................................................... . . . .
Net profits before income taxes........................................
Net profits after income taxes...........................................
M emoranda
Recoveries credited to reserve accounts (not included
in recoveries above):
On securities.......................................................................
On loans..............................................................................
Losses charged to reserve accounts (not included in
losses above):
On securities.......................................................................
On loans..............................................................................
2.65
1.63
.19
.91
.53
(4)
.02
.20
1.17
.86
.01
.01
.01
.03
.20
1.23
.91
(4)
.03
.02
4.06
61.25
5.02
5.69
.18
.20
.21
.21
1.12
.97
.67
.91
.58
.83
.49
.82
(4)
(4)
(4)
(4)
(4)
.03
(4)
.04
(4)
.04
(4)
.04
.01
.01
.02
.01
.01
(4)
.02
.02
.02
(4)
.04
.03
C O RPORATION
14.80
3.10
67.55
4.34
INSURANCE
$ 100.00
22.30
5.63
56.51
4.96
DEPOSIT
$100.00
FEDERAL
A m ounts per $100 of current operating
earnings
Current operating earnings— to ta l................................
Interest on United States Government obligations.. .
Interest and dividends on other securities.....................
Income on loans....................................................................
Service charges on deposit accounts................................
Other service charges, commissions, fees, and col
lection and exchange charges....................................
Other current operating earnings.................................
All
14.49
14.81
15.33
15.48
16.24
.93
.72
.74
.86
.92
1.30
1.33
2.89
13.45
5.55
7.90
3.53
4.37
1.66
7.60
2.45
5.15
2.13
12.24
3.16
9.08
2.84
6.24
2.09
13.12
3.55
9.57
2.88
2.62
12.93
4.00
8.93
2.91
6.69
6.02
3.09
13.10
4.78
8.32
2.81
5.51
3.30
13.10
5.39
7.71
2.93
4.78
3.79
13.75
6.04
7.71
3.25
4.46
2.74
13.70
6.06
7.64
4.00
3.64
.12
w .18
.01
.08
.24
.01
.24
(4)
.23
.06
.28
(4)
.32
.02
.26
(4)
.25
.01
.52
.47
.62
.07
.61
.26
.76
.31
.47
4.39
1.81
.19
7.24
2.03
.23
1.39
6.46
1.93
.24
1.27
6.01
5.69
1.93
.24
1.19
1.88
.27
1.15
5.55
1.84
.31
1.08
5.10
1.80
.30
1.05
4.79
1.74
1.07
3.76
1.81
.13
1.15
100.00
100.00
100.00
100.00
100.00
24.62
35.65
4.85
34.21
.67
100.00
23.75
33.41
7.45
34.17
23.18
37.63
5.71
32.84
.64
22.39
37.86
7.67
31.30
.78
21.36
38.20
9.01
30.52
.91
100.00
100.00
100.00
22.03
37.68
8.64
30.49
1.16
23.74
35.51
7.21
32.24
1.30
24.85
30.22
6.96
36.60
1.37
.03
.25
10.26
2.66
.20
1.11
(4)
.12
.22
15.11
Liabilities and capital— to ta l...........................................
Total deposits........................................................................
Demand deposits................................................................
Time and savings deposits...............................................
Borrowings and other liabilities.......................................
Total capital accounts........................................................
100.00
100.00
100.00
100.00
91.78
69.65
22.18
1.47
6.75
87.59
72.1+2
15.17
.41
100.00
100.00
91.22
66.87
21+.85
.26
8.52
100.00
100.00
92.15
61+.05
28.10
.31
7.54
92.59
61.79
80.80
.49
6.92
100.00
92.89
68.61+
29.25
.77
6.34
93.06
70.31
22.75
12.00
90.21
68.91
21.80
.27
9.52
5.92
91.15
73.59
17.56
2.13
6.72
Number of banks, December 31...........................................
13,367
371
1,607
3,052
4,357
2,010
1,571
186
213
BANKS
1.02
i This group of banks is the same as the group shown in Table 112 under the heading “ Operating throughout the year.” These ratios differ slightly from the ratios for all
insured commercial banks shown in Tables 111 and 113.
* Deposits are as of December 31, 1952.
* Asset and liability items are averages of figures reported at beginning, middle, and end of year for banks submitting reports to FDIC and are as of December 31, 1952
for banks not submitting reports to FD IC.
* Less than .005.
to
Back figures, 191+1-1951: See the Annual Report for 1951, pp. 172-173, and earlier reports.
^
OF
1.22
. 29.05
30.26
3.93
36.04
.72
INSURED
DIVIDENDS
Assets and liabilities per $100 of total
assets 3
Assets— to ta l...........................................................................
Cash and due from banks..................................................
United States Government obligations..........................
Other securities.....................................................................
Loans and discounts............................................................
All other assets......................................................................
13.44
.81
AND
Special ratios 8
Income on loans per $100 of loans......................................
Income on securities per $100 of securities.......................
Service charges per $100 of demand deposits...................
Interest paid per $100 of time and savings deposits. . . .
11.11
1.15
E X P E N S E S,
M emoranda
Recoveries credited to reserve accounts (not included
in recoveries above):
On securities...........................................................................
On loans..................................................................................
Losses charged to reserve accounts (not included in
losses above):
On securities...........................................................................
On loans..................................................................................
15.19
EAR N IN G S,
A m ounts per $100 of total capital accounts 3
N et current operating earnings.............................................
Recoveries, transfers from reserve accounts, and
profits— total.....................................................................
Losses, charge-offs, and transfers to reserve accounts—
total......................................................................................
Net profits before income taxes............................................
Taxes on net income................................................................
Net profits after income taxes...............................................
Cash dividends declared.........................................................
Net additions to capital from profits..................................
Table 116.
E
a r n in g s ,
E xpenses,
D
and
iv id e n d s
of
I n s u r e d C o m m e r c ia l B a n k s
U n i t e d S t a t e s (C o n t i n e n t a l U. S . a n d O t h e r A r e a s ) ,
(Amounts in thousands of dollars)
Earnings or expense item
Service charges and fees on bank’s loans. . . .
Other service charges, commissions, fees, and
Recoveries, transfers from reserve ac
counts, and profits— to ta l........................
On securities:
Recoveries
.......................................
Transfers from reserve accounts
Profits on securities sold or redeemed. . . .
On loans:
Recoveries ......................................................
Transfers from t b s g f y g accounts
All other.................................................................
Losses, charge-offs, and transfers to re
serve accounts— to ta l.................................
On securities:
Losses and charge-offs....................................
Transfers to reserve accounts
. ..
On loans:
Losses and charge-offs....................................
Transfers to reserve accounts......................
Net profits before incom e taxes.....................
Other areas
Puerto
Rico
Alaska
Continental
United
States
Other1
Alabama
Arizona
Arkansas
California
Colorado
26,956
Connec
ticut
4,931,688
3,493
8,048
1,063
4,919,084
45,423
22,337
551,413
41,607
57,613
1,099,059
276,993
2,742,100
42,295
244,696
737
95
1,525
126
127
484
700
5,436
215
125
197
56
627
1,097,641
276,142
2,734,512
41,952
244,385
8,890
2,599
26,876
198
2,404
3,485
939
13,462
441
1,536
5,833
1,953
14,030
70
1,649
96,921
28,149
340,544
8,548
32,955
9,568
1,167
24,227
354
3,362
12,257
2,942
29,999
237
3,736
121,868
756
23
104
921
116
204,967
199,713
165
7
120,075
204,942
199,437
1,956
941
1,560
595
499
1,379
2,360
192
869
8,973
15,505
19,818
737
1,104
1,089
849
5,061
2,533
3,028,575
2,315
6,082
788
3,019,390
25,962
15,129
15,844
349,719
25,415
38,492
530,035
965,197
468
885
978
1,829
146
528,443
962,261
6,048
7,476
2,405
5,736
4,506
3,958
42,796
114,712
5,029
7,592
6,994
12,375
30,871
458,059
20,921
139,290
7
230
363
2,898
13
536
49
409
1,127
19
30,767
456,799
20,684
138,908
1,011
66
76
847
237
297
38
388
711
875
103,469
2,392
10,693
413
4,506
172
551
407
5,155
104
1,414
74,953
809,252
89
572
242
1,576
18
180
74,604
806,924
846
7,780
565
4,939
470
4,643
6,435
68,346
515
6,638
1,234
10,811
1,903,112
1,178
1,965
276
1,899,693
19,462
7,208
11,112
201,695
16,193
19,120
144,146
67
138
15
143,926
934
385
578
11,572
1,025
931
11,191
20,492
33,806
7
11,184
20,492
33,697
24
47
157
4
20
128
45
4
123
1,203
4,014
2,263
22,004
27,330
29,324
20
21,960
27,320
29,273
311
149
245
318
270
16
145
658
1,498
1,935
251
1
12
9
39
170
276
196
362,444
396
719
66
361,263
3,614
1,601
1,769
35,226
3,194
3,827
15
97,430
29,375
974
50
683
507
75
9,443
4,649
557
2
1,498
42
11
795
1,194
601
730
161
546
324
316
875
16,075
4,183
563
1,584
489
1,035
1,230
16,782
5,992
9,921
178,041
14,023
16,225
1
2
59
2
222
21
183
108
18
6
97,512
29,531
53
1
14
155
23,637
154,510
57,253
74
243
25
24
473
53
30
10
23,528
153,764
57,165
1,684,813
849
1,384
225
1,682,355
' " ....... .. " 1 ..................
18
20
8
-------- -------- 1'......... ....... . '
21
i
10
246
220
27
100
221
110
21
CORPORATION
Net current operating earnings.....................
the
INSURANCE
Salaries and wages— employees.......................
Fees paid to directors and members of execu
tive, discount, and other committees. . . .
Interest on time and savings deposits...........
Interest and discount on borrowed money. .
Taxes other than on net income...................
Recurring depreciation on banking house,
furniture and fixtures.....................................
Other current operating expenses...................
in
1952
DEPOSIT
Other current operating earnings....................
St a t e ,
FEDERAL
Interest on U . S. Government obligations. .
Interest and dividends on other securities. .
U . S.
(continental
U . S.and
other
areas)
by
694,171
6,798
2,831
3,291
80,509
166
51
96
661,624
32,547
6,148
650
2,649
182
3,291
74,974
5,536
989,931
451
1,167
129
988,184
9,984
3,161
6,629
Dividends and interest on capital— t o t a l ..
Dividends declared on preferred stock and
interest on capital notes and debentures..
Cash dividends declared on common stock. .
441,971
157
658
67
441,089
3,594
1,492
2,241
3,675
438,298
157
658
3
64
3,672
437,419
3,593
N et additions to capital from profits.........
547,961
294
509
62
547,096
4,355
31,508
34
15
25,598
64,607
189
Average assets and liabilities 2
Assets— to ta l........................................................... 179,803,463
Cash and due from banks................................. 42,952,808
United States Government obligations......... 61,065,059
Other securities..................................................... 13,562,462
Loans and discounts........................................... 59,999,743
2,223,391
M em oranda
Recoveries credited to reserve accounts (not
included in recoveries above):
Losses charged to reserve accounts (not in
cluded in losses above):
On securities ......................................................
On loans.................................................................
6,991
6,679
6,120
558
6,394
596
97,532
7,344
9,235
58,197
2,775
4,677
1,492
5
2,236
258
57,939
2,775
4,676
6,390
1,669
4,389
39,335
4,569
4,557
4,354
31,459
22
253
395
61
1,766
4,822
349
273
50
80
25,548
64,338
5
599
40
649
101
2,604
9,946
78
1,671
3
742
92,028
195,775
33,633 179,482,027
1,500,371
604,899
942,860 16,801,468
1,418,206
25,023
41,007
4,215
35,959
27,217
31,462
93,179
7,958
400,658
487,571
143,652
452,075
16,415
118,289
197,848
49,176
228,447
11,139
3,173,144
5,243,479
1,332,921
6,807,558
244,366
365,713
532,958
53,909
456,122
9,504
1,974,610
472,723
695,170
191,041
590,514
25,162
1
20,888
895
6,276
10,837
2,980
13,077
463
42,885,550
60,985,998
13,523,805
59,872,599
2,214,075
175
279,839
333,492
84,639
238,784
6,106
1
33,633 179,482,027
1,500,371
604,899
942,860 16,801,468
1,418,206
167,747
87,198
80,51*9
12,321
15,707
31,069 164,744,715
17,117 125,01*9,663
13,952 39,695,052
2,488,446
123
2,441 12,248,866
1,386,271
1,101*,870
281,1*01
102,999
565,243
1*1*9,370
115,873
7,739
31,917
873,782 15,531,024
761*,503 8,928,868
109,279 6,602,156
307,947
2,443
962,497
66,635
1,324,667
1,01*5,101
279,566
8,208
85,331
1,974,610
1,827,222
1,1*20,601
1*06,621
15,156
132,232
Number of active officers, December 3 1 ...........
Number of other employees, December 31. . . .
76,754
358,325
55
250
188
1,015
21
95
76,490
356,965
995
3,144
313
2,189
862
1,784
5,539
36,744
775
3,054
840
4,841
Number of banks, December 31 ..........................
13,439
7
7
3
13,422
229
13
224
189
148
95
11,101
N ote: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.
1 Includes 2 banks in Hawaii, and 1 national bank in the Virgin Islands, not members of the Federal Reserve System.
2 Asset and liability items are averages of figures reported at beginning, middle, and end of year, adjusted for “ U . S. (continental U . S. and other areas)
to exclude data for 9 insured branches in Puerto Rico of insured national banks in New York; earnings data of these branches are not available.
Back figures, 191*6-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.
ana for
■»■»•*»
Puerto Rico
BANKS
195,775
87,964
59,861*
28,100
165
3,899
INSURED
92,028
OF
Liabilities and capital— to ta l.......................... 179,803,463
Total deposits....................................................... 165,031,495
Demand deposits............................................... 125,213,81*2
Time and savings deposits.............................. 39,817,653
2,501,055
Borrowings and other liabilities.......................
Total capital accounts........................................ 12,270,913
DIVIDENDS
96
8
AND
217
391
EXPENSES,
399
662,277
32,606
EARNINGS,
694,883
Federal....................................................................
State........................................................................
Table 116,
U n ite d
E
a r n in g s ,
S ta te s
E
xpen ses, and
D
iv id e n d s
of
I n s u r e d C o m m e r c ia l B
(C o n t in e n t a l U . S. a n d O t h e r A r e a s ), b y S ta t e ,
anks
in
the
1952— Continued
(Amounts in thousands of dollars)
Earnings or expense item
Delaware
District of
Columbia
Florida
Georgia
Idaho
v-1
Illinois
Indiana
Iowa
Kansas
34,650
67,633
70,795
16,609
341,676
98,780
74,116
48,256
3,558
832
9.188
326
9,419
1,179
16,840
208
2,677
19,576
3,600
29,987
242
6,246
11,412
3,009
42,474
942
3,988
3,769
390
10,334
142
1,096
107,853
22,382
157,695
3,473
14,893
29,933
4,085
50,854
435
4,663
16,431
3,624
44,529
164
4,776
11,353
2,735
27,565
295
3,067
173
2,471
334
943
1,939
1,445
2,750
1,332
3,899
4,651
1,837
2,481
374
87
417
4,393
18,507
12,481
2,663
2,242
3,907
2,057
669
1,866
Current operating expenses— to ta l..............
Salaries— officers..................................................
Salaries and wages— employees........................
Fees paid to directors and members of execu
tive, discount, and other committees. . . .
Interest on time and savings deposits...........
Interest and discount on borrowed m oney..
Taxes other than on net income....................
Recurring depreciation on banking house,
furniture and fixtures.....................................
Other current operating expenses....................
9,341
2,122
21,817
42,499
45,519
10,696
207,710
63,831
3,683
8,347
7,881
12,954
9,220
12,716
2,223
2,890
35,439
61,983
12,529
17,594
250
1,795
614
4,015
290
3,027
69
2,213
64
229
1,776
37,071
2,126
8,496
N et current operating earnings.....................
Losses, charge-offs, and transfers to re
serve accounts— to ta l.................................
On securities:
Losses and charge-offs....................................
Transfers to reserve accounts......................
On loans:
Losses and charge-offs....................................
Transfers to reserve accounts......................
All other.................................................................
N et profits before incom e
taxes.....................
2,922
55,173
1,940
30,260
359
1,870
14,204
4,062
27,262
40
3,161
1,030
385
1,826
703
1,768
1,498
3,195
575
2,675
44,397
28,712
29,074
12,274
10,479
8,300
6,851
7,125
7,994
35,228
6,734
10,273
894
9,974
82
5,020
518
6,957
127
1,466
488
2,466
542
2,482
68
110
164
864
131
252
1,398
539
4,445
72
1,358
1,346
2,099
515
3,619
254
2,994
308
2,579
695
5,537
1,990
13,259
1,344
14,295
354
2,653
3,704
57,116
1,493
16,247
1,085
11,491
639
8,554
709
8,013
1,013
9,826
7,628
12,832
25,136
25,276
5,913
133,967
34,950
29,718
19,544
21,527
19,944
166
473
912
1,523
116
16,849
2,138
989
948
1,424
854
8
46
30
342
81
15
581
33
66
49
61
22
3,048
3,524
4,292
48
1,074
213
99
46
354
477
24
87
142
111
46
64
28
10
294
86
2,011
87
27
382
30
1,858
2,118
272
424
253
313
131
273
464
29
296
259
124
165
323
21
314
103
430
31
68
24
1,490
1,402
4,225
3,032
965
28,315
7,370
3,935
3,640
3,738
3,297
589
711
1,886
938
744
10
2,042
751
1,372
14
883
42
6,804
3,251
6
910
312
667
240
1
100
178
25
6
56
251
569
84
252
349
364
1,496
437
383
1,135
568
62
117
42
869
12,997
4,395
330
2,639
1,609
572
1,171
807
852
1,015
884
395
751
1,369
359
766
1,266
6,303
11,903
21,825
23,767
5,065
122,501
29,718
26,771
16,852
19,212
17,502
CORPORATION
Recoveries, transfers from reserve ac
counts, and profits— to ta l........................
On securities:
Recoveries..........................................................
Transfers from reserve accounts.................
Profits on securities sold or redeemed. . . .
On loans:
Recoveries..........................................................
Transfers from reserve accounts.................
All other.................................................................
86
50,600
12,201
INSURANCE
16,968
Louisiana
DEPOSIT
Current operating earnings— to ta l..............
Interest on U . S. Government obligations..
Interest and dividends on other securities. .
Interest and discount on loans........................
Service charges and fees on bank’s loans. . . .
Service charges on deposit accounts...............
Other service charges, commissions, fees, and
collection and exchange charges..................
Trust department................................................
Other current operating earnings............. ..
Kentucky
Taxes on net incom e— to ta l............................
Federal...................................................................
State........................................................................
2.897
2.897
5.458
5.458
9.041
9.041
9.974
9.974
2,400
2,163
238
11.391
11.391
9.147
9.147
6,186
6,186
7.370
7.370
6.846
6.846
18,327
17,625
10,666
11,842
10,656
5,619
5,027
3,177
3,975
3,167
6
3,172
14
3,961
3,161
76,374
1.040
26,988
2.341
10
2
3.068
3,494
5,256
1.040
80
26,908
60
5,559
42
4,985
Net additions to capital from profits.........
1,065
3,377
9,279
8,534
1,624
49,386
12,708
12,598
7,489
7,868
7,489
M em oranda
Recoveries credited to reserve accounts (not
included in recoveries above):
On securities..........................................................
On loans.................................................................
Losses charged to reserve accounts (not in
cluded in losses above):
On securities..........................................................
On loans...........................................................
66
104
252
21
2
384
46
2,755
504
174
345
7
203
5
90
17
119
607
15
775
1
310
91
3,061
3,430
235
1,079
612
960
226
608
23
321
Average assets and liabilities 1
Assets— to ta l...........................................................
Cash and due from banks.................................
United States Government obligations.........
Other securities.....................................................
Loans and discounts...........................................
All other assets.....................................................
561,995
112,674
199,398
34,520
208,234
7,169
1,342,273
338,413
536,004
53,105
393,026
21,725
2,487,503
643,889
1,061,388
164,648
583,779
33,799
2,157,203
599,158
633,524
113,563
782,808
28,150
502,928 14,793,016
99,440 3,471,906
195,005 6,006,504
17,735 1,145,952
186,450 4,075,148
4,298
93,506
3,779,806
885,024
1,670,374
222,651
971,112
30,645
2,508,584
547,293
853,248
214,812
876,934
16,297
1,821,136
492,964
616,142
159,698
542,095
10,237
1,890,398
516,284
682,232
79,671
598,760
13,451
2,142,386
632,778
769,894
179,790
533,816
26,108
Liabilities and capital— to ta l..........................
Total deposits.......................................................
Demand deposits...............................................
Time and savings deposits..............................
Borrowings and other liabilities......................
Total capital accounts........................................
561,995
502,597
407,501
95,096
4,739
54,659
1,342,273
1,250,240
1,003,942
246,298
10,153
81,880
2,487,503
2,326,234
1,903,596
422,638
14,279
146,990
2,157,203
1,992,563
1,654,402
338,161
22,466
142,174
502,928 14,793,016
474,019 13,817,735
351,188 10,317,250
122,831 3,500,485
2,972
93,569
25,937
881,712
3,779,806
3,537,786
2,566,368
971,418
20,008
222,012
2,508,584
2,329,093
1,770,124
558,969
4,886
174,605
1,821,136
1,705,434
1,514,626
190,808
5,252
110,450
1,890,398
1,746,347
1,498,678
247,669
10,943
133,108
2,142,386
2,011,987
1,702,328
309,659
15,999
114,400
Number of active officers, December 3 1 ...........
Number of other employees, December 3 1 ... .
279
1,190
396
3,003
1,238
5,566
1,494
5,111
320
1,150
4,626
22,432
2,176
7,293
2,189
4,686
1,639
3,089
1,463
3,791
962
4,028
Number of banks, December 31 ..........................
34
19
209
341
39
883
471
609
474
362
166
N ote: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.
2
6
BANKS
2,664
5,258
INSURED
13,793
3,504
OF
12,783
3.068
DIVIDENDS
6,445
2.341
AND
3,406
Dividends and interest on capital— t o t a l ..
Dividends declared on preferred stock and
interest on capital notes and debentures
Cash dividends declared on common stock. .
EXPENSES,
Netfprofits after incom e taxes........................
E A R N IN G S,
46.127
46.127
1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
Back figures, 1946-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.
129
Table 116.
U n ite d
E
a r n in g s ,
S ta te s
E xpen ses,
and
D
iv id e n d s
of
I n s u r e d C o m m e r c ia l B a n k s
(C o n t in e n t a l U . S. a n d O t h e r A r e a s ), b y S t a t e ,
in
the
1952— Continued
Earnings or expense item
Maine
Maryland Massachusetts Michigan Minnesota Mississippi
Losses, charge-offs, and transfers to re
serve accounts— to ta l.................................
On securities:
Losses and charge-offs....................................
Transfers to reserve accounts......................
On loans:
Losses and charge-offs....................................
Transfers to reserve accounts......................
All other.................................................................
Net profits before incom e taxes.....................
18,190
4,941
752
9,507
181
1,390
40,069
9,814
1,728
22,953
81
2,454
7,174
1,756
235
4,071
96
359
8,804
1,778
419
5,128
24
772
155
Nevada
47,507
13,722
2,315
24,547
91
3,043
139,286
30,077
6,429
72,658
813
7,959
176,334
47,423
9,014
98,830
1,615
8,609
100,175
20,411
5,143
55,467
570
5,508
27,918
5,240
2,993
13,898
1,472
133,084
29,038
6,596
81,917
537
4,886
264
407
407
1,001
1,258
1,531
3,784
10,078
7,489
4,049
2,404
4,391
7,325
2,549
3,204
3,292
141
819
2,725
3,239
4,147
664
70
686
1,091
401
1,549
220
283
186
160
338
11,489
1,895
3,014
29,973
4,795
9,605
86,363
14,595
30,226
112,981
16,501
38,065
64,369
14,922
17,687
17,963
4,586
4,628
76,811
15,512
23,651
11,243
2,672
2,857
23,322
6,717
5,765
4,292
767
1,359
5,815
1,133
1,420
202
822
7,272
346
3,947
1,053
20,552
1,068
5,731
814
11,547
284
1,207
335
941
8,033
1,208
2,956
118
878
1,111
1,166
410
1,292
229
1,198
12
38
1,232
92
955
515
542
4,204
185
1,724
256
9
223
268
2,918
798
8,121
2,657
26,500
2,867
27,144
1,272
16,637
451
5,482
2,039
22,471
278
3,213
565
7,146
136
885
173
1,631
5,399
17,534
52,923
63,354
35,806
9,956
56,274
6,947
16,748
2,882
2,989
418
1,194
6,433
2,953
1,770
806
2,889
991
1,568
22
486
17
175
79
7
1,511
238
13
188
95
99
130
133
594
9
341
62
618
429
186
8
64
275
33
1,000
2,667
11
66
1,211
11
72
288
896
1,145
1,068
95
70
154
128
84
518
989
1,181
1,154
303
91
963
709
32
590
244
59
223
503
431
1,098
394
140
44
161
29
146
11
52
24
38
1,150
2,832
13,490
11,799
5,115
2,756
10,942
2,226
4,087
254
1,214
228
6
1,013
28
1,911
1,007
4,743
1,340
1,939
81
700
109
3,585
1,539
755
346
1,285
492
61
323
115
141
505
270
143
990
658
187
7,863
2,521
562
3,618
1,534
932
1,036
1,127
278
1,103
567
1,048
3,338
1,433
503
392
229
460
1,084
766
12
151
31
93
259
424
4,666
15,896
45,866
54,509
32,460
8,007
48,220
5,713
14,229
2,650
2,261
11
88
4
CORPORATION
Recoveries, transfers from reserve ac
counts, and profits— to ta l........................
On securities:
Recoveries..........................................................
Transfers from reserve accounts.................
Profits on securities sold or redeemed. . . .
On loans:
Recoveries..........................................................
Transfers from reserve accounts.................
All other.................................................................
Nebraska
INSURANCE
Current operating expenses— to ta l..............
Salaries— officers..................................................
Salaries and wages— employees.................
Fees paid to directors and members of execu
tive, discount, and other committees. . . .
Interest on time and savings deposits...........
Interest and discount on borrowed money. .
Taxes other than on net income....................
Recurring depreciation on banking house,
furniture and fixtures.....................................
Other current operating expenses....................
New
Hampshire
Montana
DEPOSIT
16,888
3,523
783
10,445
59
Missouri
FEDERAL
Current operating earnings— to ta l..............
Interest on U . S. Government obligations. .
Interest and dividends on other securities. .
Interest and discount on loans........................
Service charges and fees on bank’s loans. . . .
Service charges on deposit accounts...............
Other service charges, commissions, fees, and
collection and exchange charges..................
Trust department................................................
Other current operating earnings....................
Net current operating earnings.....................
130
(Amounts in thousands of dollars)
12,902
2.340
20,638
2,397
4.845
1.392
674
23.133
11,114
1,788
2.340
19,802
836
2,329
69
4.845
1.392
674
Net profits after income taxes......................
2,971
10,178
25,035
31,376
19,558
5,666
27,582
3,316
9,383
1,259
1,588
Dividends and interest on capital— total. .
1,288
4,145
14,979
12,181
7,327
10,641
1,332
3,094
421
654
Dividends declared on preferred stock and
interest on capital notes and debentures. .
Cash dividends declared on common stock. .
1,844
6
1,282
25
4,121
16
14,963
122
30
1,814
47
10,595
2
2
12,060
26
7,302
1,330
3,093
421
654
1,683
6,032
10,056
19,194
12,231
3,823
16,941
1,983
6,289
838
934
50
125
13
459
6
1,264
386
5
194
52
657
157
218
38
91
191
50
239
170
2,811
1,113
1,992
830
499
1,667
281
300
558
128
249
504,487
101,112
1,880,727
4,937,775
6,507,018
3,303,851
1,156,544
1,651,140
311,019
1,725,045
94,027
1,327,392
2,718,715
526,967
1,873,530
60,414
763,002
1,126,660
267,969
1,118,041
28,179
924,354
237,309
291,301
133,944
252,788
9,012
5,156,677
652,626
1,510,863
440,017
767,584
116,479
532,514
24,133
224,912
267,889
1,381,942
1,648,035
300,571
1,784,088
42,041
161,663
279,127
38,983
166,916
5,937
393,868
546,029
106,178
455,568
9,220
42,511
98,195
11,673
69,389
3,144
62,854
90,028
18,592
94,002
2,413
Net additions to capital from profits........
Memoranda
Recoveries credited to reserve accounts (not
included in recoveries above):
On securities..........................................................
On loans.................................................................
Losses charged to reserve accounts (not in
cluded in losses above):
On securities..........................................................
On loans..................................................................
Average assets and liabilities^
Assets— total......................................................
Cash and due from banks.................................
United States Government obligations.........
Other securities.....................................................
Loans and discounts...........................................
All other assets......................................................
175,476
38,050
184,608
5,241
1,100
Liabilities and capital— total........................
504,487
1,880,727
4,937,775
6,507,018
Total deposits........................................................
Demand deposits...............................................
Time and savings deposits..............................
Borrowings and other liabilities......................
Total capital accounts........................................
3,303,851
1,747,827
1,305,590
1+1+2,237
924,354
5,156,677
457,615
272,362
185,253
3,316
43,556
652,626
1,510,863
120,689
4,448,631
3,726,671
721,957
84,485
404,659
6,103,460
3,735,836
2,367,621+
56,223
347,335
3,059,346
2,162,851+
896,1+92
28,146
216,359
861,543
721+,01+9
137,1+91+
3,544
59,267
4,806,855
1+,037,951
768,901+
37,607
312,215
619,237
511,571+
107,663
4,016
29,373
1,408,836
1,257,681+
151,152
9,127
92,900
224,912
210,591
11+1,576
69,015
2,127
12,194
240,498
170,611+
69,881+
1,142
26,249
Number of active officers, December 3 1 ...........
Number of other employees, December 31. .. .
337
1,357
876
4,365
1,766
11,996
2,095
13,926
2,640
7,276
852
2,036
2,709
10,690
1,202
448
1,238
2,586
120
212
504
636
Number of banks, December 31..........................
55
154
173
412
664
199
576
109
369
8
58
BANKS
1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
Back figures, 191+6-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.
INSURED
N ote: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.
267,889
OF
12,211
DIVIDENDS
23.133
17,419
3,412
AND
20,831
5.718
EXPENSES,
5.718
1.696
EARNINGS,
1.696
Federal....................................................................
Taxes on net income— total..........................
Table 116.
U n ite d
E
a r n in g s ,
S ta te s
and
D
iv id e n d s
of
I n s u r e d C o m m e r c ia l B
New
Jersey
New
Mexico
New
York
North
Carolina
North
Dakota
Ohio
anks
in
the
1952— Continued
132
Earnings or expense item
E xpen ses,
(C o n t in e n t a l U . S. an d O t h e r A r e a s ), b y S ta te ,
(Amounts in thousands of dollars)
Oklahoma
Pennsylvania
Oregon
Rhode
Island
South
Carolina
68,182
12,359
4,273
38,263
931
3,353
15,517
4,465
582
6,928
106
1,013
237,116
62,425
14,230
124,583
1,512
10,996
59,580
12,184
3,169
35,448
173
3,826
51,375
9,579
2,530
31,729
340
3,592
360,709
80,075
29,877
191,837
1,654
11,482
2,089
4,949
5,545
338
198
341
17,686
73,470
48,461
5,390
1,895
1,718
1,960
64
400
4,104
8,942
10,325
1,175
496
3,110
1,068
1,019
1,520
4,820
24,273
16,691
1,888
1,637
2,106
381
410
Current operating expenses— to ta l..............
Salaries— officers..................................................
Salaries and wages— employees........................
Fees paid to directors and members of execu
tive, discount, and other committees. .. .
Interest on time and savings deposits...........
Interest and discount on borrowed money. .
Taxes other than on net income....................
Recurring depreciation on banking house,
furniture and fixtures.....................................
Other current operating expenses....................
107,537
16,264
33,567
9,096
1,830
2,782
539,835
78,050
214,218
42,118
9,273
11,414
9,161
2,583
2,077
148,671
22,248
43,382
34,687
8,945
9,266
34,270
5,925
11,399
214,989
36,006
69,866
17,083
2,252
5,112
14,169
3,432
4,388
1,573
19,495
364
6,084
88
980
5
462
3,625
48,263
5,856
18,467
384
5,585
660
1,282
118
1,458
5
267
1,503
24,912
1,088
15,464
356
2,744
687
699
98
7,979
146
717
3,384
31,199
817
10,005
186
3,618
17
1,176
209
975
55
232
3,744
26,449
424
2,527
8,887
162,470
1,213
12,308
186
2,468
3,564
36,509
1,317
10,674
1,109
6,898
6,305
57,408
397
4,324
449
4,430
N et current operating earnings.....................
50,632
4,338
396,719
26,063
6,356
88,446
24,892
17,106
145,719
7,988
10,349
5,985
320
44,725
2,292
223
4,739
1,071
741
7,960
887
246
452
311
1,819
58
10
326
1,135
15
13
37
497
56
1,606
36
9
293
25
10
1,160
6,802
9,444
336
878
1,154
2,132
118
25
91
714
1,845
843
162
35
55
4,999
14,733
7,587
164
248
410
76
13
695
907
977
513
98
57
1,201
121
320
721
1,875
58
254
430
12
68
16,457
1,299
65,236
4,752
1,252
14,243
2,839
2,510
33,515
2,591
1,261
4,507
727
65
13,895
4,588
1,459
183
603
3,596
1,994
360
85
809
8,701
5,240
616
314
9
493
9,310
1,420
432
342
460
1,506
38,543
6,705
264
1,884
962
308
225
478
6,634
1,540
896
965
533
36
1,288
378
993
12,714
5,869
17
939
1,019
153
386
399
40,160
3,357
376,207
23,603
5,326
78,943
23,123
15,335
120,164
6,283
9,336
Recoveries, transfers from reserve ac
counts, and profits— to ta l........................
On securities:
Recoveries........................................................
Transfers from reserve accounts.................
Profits on securities sold or redeemed. . . .
On loans:
Recoveries..........................................................
Transfers from reserve accounts.................
All other.................................................................
Losses, charge-offs, and transfers to re
serve accounts— to ta l.................................
On securities:
Losses and charge-offs....................................
Transfers to reserve accounts......................
On loans:
Losses and charge-offs....................................
Transfers to reserve accounts......................
All other.................................................................
N et profits before incom e taxes.....................
6
110
2
25,071
6,604
552
13,210
12
913
255
24,519
5,559
1,342
12,904
41
1,777
15
51
78
CORPORATION
936,555
184,034
55,977
510,774
10,761
35,390
INSURANCE
13,434
2,780
247
8,516
191
822
DEPOSIT
158,170
41,273
11,682
82,311
555
9,766
FEDERAL
Current operating earnings— to ta l..............
Interest on U . S. Government obligations..
Interest and dividends on other securities. .
Interest and discount on loans........................
Service charges and fees on bank’s loans. . . .
Service charges on deposit accounts...............
Other service charges, commissions, fees, and
collection and exchange charges..................
Trust department................................................
Other current operating earnings....................
10,425
9,938
488
N et profits after incom e taxes........................
27,061
1,540
214,092
13,177
Dividends and interest on capital— t o t a l ..
Dividends declared on preferred stock and
interest on capital notes and debentures. .
Cash dividends declared on common stock ..
10,507
774
112,513
4,291
1,127
9,380
2
772
1,322
111,191
N et additions to capital from profits.........
16,555
766
M em oranda
Recoveries credited to reserve accounts (not
included in recoveries above):
On securities..........................................................
On loans.................................................................
Losses charged to reserve accounts (not in
cluded in losses above):
On securities..........................................................
On loans.................................................................
38
463
630
1,444
Average assets and liabilities^
Assets— to ta l...........................................................
Cash and due from banks.................................
United States Government obligations.........
Other securities.....................................................
Loans and discounts............................................
All other assets.....................................................
2,207
2,110
32.303
9,513
6,364
44.101
8,878
636
3,012
4,138
32.303
5,186
1,179
44.101
2,763
250
3,862
275
3,120
46,640
13,610
8,971
76,063
3,271
5,198
1,303
17,067
4,890
3,989
38,110
1.865
1,839
4
4,287
3
1,300
47
17,020
4,889
1
3,987
104
38,006
1.865
4
1,835
101,580
8,887
1,817
29,573
8,721
4,983
37,954
1,407
3,359
176
1,953
9,176
4
130
77
145
1,119
305
172
43
942
97
48
4,256
376
11,668
114
783
142
1,558
2,036
15
823
8,643
3,274
212
528
5,519,970
438,791 38,359,381
2,243,669
989,110
2,174,818
596,901
1,683,140
76,001
132,027 9,875,319
160,561 10,701,259
13,237 2,767,451
128,402 14,391,267
4,564
624,085
514,669
97,761
246,546
31,425
135,692
3,245
9,118,072
2,065,451
565,767
665,640
237,117
748,577
26,568
1,639,921
12,564,096
837,599
1,972,150
3,559,309
711,160
2,780,647
94,806
612,440
673,403
168,252
592,154
19,202
343,453
519,518
134,184
619,061
23,705
2,693,404
j»4,248,922
i 1,282,608
4,180,385
158,777
850,257
147,442
348,817
28,708
297,321
15,311
238,433
310,077
69,347
225,453
6,947
97
403
204
2,243,669
514,669
414,231 34,051,920
352,010 29,1*56,981
62,221 1*,591*,939
1,262 1,262,877
23,298 3,044,584
9,118,072
2,065,451
2,058,144
1,60A,766
1*53,378
37,271
148,254
482,106
367,1*1*9
111*,657
2,488
30,075
8,487,517
5,697,1*81
2,790,036
65,369
565,186
1,639,921
1,915,373
1,730,308
185,065
10,760
139,318
1,519,329
1,063,338
1*55,991
16,355
104,237
12,564,096
837,599
850,257
11,296,778
8,095,106
3,201,672
98,025
1,169,293
766,469
1*85,062
281,1*07
10,151
60,979
794,525
691*,112
100,1*13
5,131
50,601
Number of active officers, December 3 1 ...........
Number of other employees, December 3 1 . . . .
2,254
12,877
290
1,125
7,285
67,790
1,423
4,746
498
992
3,317
16,229
1,607
4,008
960
4,086
5,098
26,362
274
1,996
587
1,925
Number of banks, December 31........................
308
51
595
225
146
644
376
66
923
10
134
N ote: Due to rounding, earnings data of State banks m ay not add precisely to the indicated totals.
1 Asset and liability item s are averages of figures reported at beginning, m iddle, and end of year.
Back figures, 191*6-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.
BANKS
438,791 38,359,381
5,123,196
3,016,1*76
2,106,720
36,608
360,166
INSURED
5,519,970
OF
Liabilities and capital— to ta l..........................
Total deposits........................................................
Demand deposits...............................................
Time and savings deposits..............................
Borrowings and other liabilities.......................
Total capital accounts........................................
DIVIDENDS
162,114
147,075
15,039
AND
1.817
1.817
EXPENSES,
13.098
13.098
EARNINGS,
Taxes on net incom e— to ta l............................
Federal....................................................................
State........................................................................
Table 116.
U n ite d
E
a r n in g s ,
S ta te s
E xpen ses,
and
D
iv id e n d s
I n s u r e d C o m m e r c ia l B
of
( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , b y S t a t e ,
anks
in
the
1952— Continued
(Amounts in thousands of dollars)
Earnings or expense item
South
Dakota
Tennessee
Texas
Utah
Virginia
Vermont
Washington
10,732
74,537
69,758
4,270
840
13,429
532
1,123
1,864
545
7,127
65
557
15,312
2,948
46,163
616
3,756
11,954
4,440
41,494
759
5,870
1,644
61
458
2,349
2,459
5,016
3,452
12,302
700
469
646
146
183
248
1,574
2,284
1,885
1,894
1,508
1,840
11,043
44,317
140,112
14,261
7,791
45,599
47,111
3,261
2,632
8,349
11,752
31,678
39,214
2,358
3,761
1,208
1,559
8,874
12,507
8,520
16,133
180
1,344
1,618
733
8,663
431
12,674
213
3,624
85
265
149
2,908
262
400
7,817
303
2,890
288
3,056
1,280
11,526
4,626
41,649
320
3,638
Net current operating earnings...................
7,393
27,171
94,104
Recoveries, transfers from reserve ac
counts, and profits— total......................
166
1,676
18
34
89
563
442
Current operating expenses— total.............
Salaries— officers..................................................
Salaries and wages— employees.......................
Fees paid to directors and members of execu
tive, discount, and other committees. . . .
Interest on time and savings deposits...........
Interest and discount on borrowed money. .
Taxes other than on net income...................
Recurring depreciation on banking house,
furniture and fixtures.....................................
Other current operating expenses...................
20
1,111
89,689
9,282
1,201
27,335
5,079
45,956
526
4,621
2,106
310
5,424
84
592
664
894
1,119
1,884
1,293
2,995
281
76
409
18,898
59,079
5,564
3,825
4,999
12,778
15,661
1,387
1,447
334
3,501
95
831
27
252
32,682
8,688
1,407
18,535
176
6
221
146
2,191
232
7,190
158
1,026
825
1,067
11,710
90
1,387
172
1,643
1,574
10,836
1,568
12,284
617
4,710
1,480
14,908
186
1,340
7,748
2,942
28,938
22,647
13,784
30,609
3,719
6,182
228
371
1,059
1,305
584
1,699
122
337
254
822
1
24
95
108
76
203
22
22
25
55
141
134
216
75
336
30
145
9
51
79
17
156
299
196
344
148
313
456
176
69
184
128
75
201
745
14
8,222
86
On securities:
Recoveries..........................................................
Transfers from reserve accounts
Profits on securities sold or redeemed. . . .
On loans:
Recoveries..........................................................
Transfers from reserve accounts
All other.................................................................
63
262
44
299
2,299
438
2,033
Losses, charge-offs, and transfers to re
serve accounts— total..............................
1,236
5,993
22,785
798
710
3,845
4,336
1,965
6,496
639
472
2,321
9
4,695
714
320
231
1,522
137
1,221
788
103
3,067
126
119
On securities:
Losses and charge-offs....................................
Transfers to reserve accounts
On loans:
Losses and charge-offs....................................
Transfers to reserve accounts......................
All other.................................................................
Net profits before income taxes...................
8
21
1
895
4
2
223
339
203
332
1,984
1,346
4,872
8,303
4,200
82
294
101
63
276
139
280
1,008
899
114
1,465
642
240
465
368
155
2,386
762
286
70
162
6,323
22,854
77,501
7,177
2,603
26,152
19,616
12,403
25,812
3,203
CORPORATION
22,009
43,286
9,780
147,668
2,098
10,616
INSURANCE
234,216
13,026
3,662
46,506
370
2,004
Wyoming
DEPOSIT
71,488
4,083
682
10,165
87
1,257
Interest on U . S. Government obligations. .
Interest and dividends on other securities. .
Interest and discount on loans........................
Service charges and fees on bank’s loans. . . .
Service charges on deposit accounts...............
Other service charges, commissions, fees, and
collection and exchange charges..................
Trust department................................................
Other current operating earnings....................
Wisconsin
FEDERAL
18,436
Current operating earnings— total.............
West
Virginia
Taxes on net income— total..........................
2,449
10,130
Federal....................................................................
State........................................................................
34.065
2,316
134
3,218
720
9,967
163
11.124
7.662
5.071
8,793
34.065
3,081
138
632
11.124
7.662
5.071
8,596
197
Net profits after income taxes......................
3,875
12,724
43,437
3,959
1,882
15,028
11,954
7,332
17,020
1,857
Dividends and interest on capital— to^al. .
1,296
Dividends declared on preferred stock and
interest on capital notes and debentures. .
Cash dividends declared on common stock. .
5,490
20,830
1,606
668
5,930
4,773
2,671
6,064
574
5
1,291
3
5,488
20
81
587
45
5,885
2
3
20,810
9
1,597
4,771
2,668
128
5,936
7
567
2,579
7,233
22,607
2,353
1,214
9,098
7,182
4,661
10,956
1,283
141
425
269
1,921
51
107
385
381
127
420
83
273
3
986
39
6,040
201
5
214
96
785
737
829
1
211
90
811
5
174
AND
570,577
2,366,245
8,589,097
708,275
121,559
234,278
32,347
177,905
4,488
629,894
696,133
153,372
856,832
30,014
306,841
2,442,499
2,247,045
1,118,345
3,562,924
2,782,847
2,417,224
427,758
2,827,334
133,934
51,198
91,215
25,696
135,534
3,198
595,818
831,690
141,275
843,329
30,387
317,482
162,357
248,943
36,005
255,030
5,940
546,122
663,882
214,918
794,099
28,024
269,185
455,356
67,406
315,040
11,358
756,303
1,506,775
257,985
1,012,622
29,239
84,558
125,111
14,745
90,624
2,444
DIVIDENDS
1,118,345
1.347
1.347
Recoveries credited to reserve accounts (not
included in recoveries above):
On securities..........................................................
On loans.................................................................
Losses charged to reserve accounts (not in
cluded in losses above):
On securities..........................................................
On loans.................................................................
Average assets and liabilities1
Assets— total......................................................
Cash and due from banks.................................
United States Government obligations.........
Other securities....................................................
Loans and discounts...........................................
All other assets.....................................................
Liabilities and capital— total........................
1
8,589,097
708,275
306,841
2,442,499
2,247,045
8,011,890
7,243,450
768,440
56,869
520,338
661,126
452,593
208,533
5,260
41,889
275,982
114,702
161,280
1,681
29,178
2,247,107
1,540,331
706,776
22,014
173,378
2,093,542
1 ,542,523
551,019
14,944
138,559
Number of active officers, December 3 1 ...........
Number of other employees, December 31. .. .
644
1,226
1,516
5,105
4,937
16,035
351
1,623
249
696
1,602
5,486
1,154
5,761
Number of banks, December 31..........................
170
290
877
55
66
315
114
N ote: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.
1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
Back figures, 1946-1951: See the Annual R eport for 1951, pp. 174-183, and earlier reports.
1,020,424
744,636
275,788
6,745
91,176
3,562,924
317,482
3,333,744
2,043,077
1,290,667
11,366
217,814
298,071
241,613
56,458
1,388
18,023
668
2,051
2,136
6,624
241
553
178
545
52
BANKS
2,366,245
2,193,544
1,685,193
508.351
19,432
153,269
INSURED
570,577
533,014
428,376
104,638
2,646
34,917
OF
Total deposits.......................................................
Demand deposits...............................................
Time and savings deposits..............................
Borrowings and other liabilities......................
Total capital accounts........................................
EXPENSES,
Memoranda
EARNINGS,
Net additions to capital from profits........
88
CO
Oi
Table 117.
I ncom e, E
x pen ses, and
D iv id e n d s o f I n s u r e d M
(Amounts in thousands of dollars)
utual
Sa v in g s B a n k s ,
1952
Sources and disposition of income
Current operating income—total.......................................
Interest on U. S. Government obligations.............................
Interest and dividends on other securities...............................
Interest and discount on real estate mortgage loans— net. .
Interest and discount on real estate mortgage loans— gross.
Less: Mortgage servicing fees................................................... .
Premium amortization.....................................................
Interest and discount on other loans and discounts— n e t...
Income on real estate other than bank building— net..........
Income on real estate other than bank building— gross........
Less: Operating expense.............................................................
Income on other assets.................................................................
Income from service operations...................................................
Non-recurring income, realized profits and recoveries credited to profit
and loss, and transfers from valuation adjustment provisions—total
Non-recurring income.............................................................................................
Realized profits and recoveries (see memoranda)............................................
Transfers from valuation adjustment provisions1 (see memoranda)...........
Non-recurring expense, realized losses charged to profit and loss, and
transfers to valuation adjustment provisions— total........................
Non-recurring expense.................................................................................................
Realized losses (see memoranda)2.............................................................................
Transfers to valuation adjustment provisions1 (see memoranda)...................
Net additions to total surplus accounts from operations.......................
5,854
26,223
Securities sold or matured.......................................................
Real estate mortgage loans......................................................
Other real estate.........................................................................
All other assets...........................................................................
5,243
155
216
240
25,875
176
Transfers from (or to) valuation adjustment pro
visions1—total................................................................
37,170
33,996
19,249
40,996
Securities......................................................................................
Real estate mortgage loans......................................................
Other real estate.........................................................................
All other assets............................................................................
12,223
24,692
111
144
14,359
15,474
63
4,100
10,648
2,123
Recoveries credited (or realized losses charged) to
valuation adjustment provisions1 (not included
in recoveries or losses above)— total.........................
423
16,285
135
69
14,581
882
206
616
116,763
12,162
19,104
6,942
6,203
2,387
22,995
451,735
9,189
442,546
365,481
77,065
Securities.......................................................................................
Real estate mortgage loans......................................................
Other real estate.........................................................................
All other assets...........................................................................
1
218
110
62
Average assets and liabilities*
Assets—total.............................................
17.905.674
Cash and due from banks........................
United States Government obligations.
Other securities...........................................
Real estate mortgage loans......................
Other loans and discounts........................
Other real estate.........................................
All other assets............................................
728,979
6,755,471
2,064,761
8,012,488
85,996
2,675
255,304
57,917
Liabilities and surplus accounts—total.
17.905.674
14,893
5,854
37,170
Total deposits..................................................
Savings and time deposits..........................
Demand deposits..........................................
Other liabilities................................................
Total surplus accounts..................................
16,102,806
16,080,015
22,791
93,253
1,709,615
84,023
23,804
26,223
33,996
50,959
Number of active officers, December 31. . .
Number of other employees, December 31.
Number of banks, December 31.
1,810
11,932
206
1 Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-downs).”
2 Total realized losses for the year were $42,508,000, of which a portion was charged to valuation adjustment provisions (see memoranda).
8 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
Back figures, 1934-1951: Comparable data for 1951 may be found in the 1951 Annual Report, p. 184. Data for prior years, which however are not comparable with figures for
1951
1952, may be found in the following Annual Reports: 1950, pp. 272-273; and 1941, p. 173.
Digitized for and
FRASER
tel
tel
u
tel
S3
CORPORATION
Net current operating income......................................................................
State franchise or income tax.......................................................................
Net current operating income after taxes.................................................
Dividends and interest on deposits.............................................................
Net current operating income after taxes and dividends.....................
Realized profits and recoveries credited, or realized
losses charged, to profit and loss— total.................
CO
o
INSURANCE
Salaries— officers............................................................................................................
Salaries and wages— employees.................................................................................
Pension, hospitalization and group insurance payments, and other em
ployee benefits...........................................................................................................
Fees paid to trustees and committee members.....................................................
Occupancy, maintenance, etc. of bank premises (including taxes and re
curring depreciation)— net.....................................................................................
Occupancy, maintenance, etc. of bank premises {including taxes and re
curring depreciation)— gross...........................................................................
Less: Income from bank building.......................................................................
Deposit insurance assessments..............................................................................
Furniture and fixtures (including recurring depreciation)............................
All other current operating expense....................................................................
163,879
62,958
326,785
340,497
7,666
6,046
4,068
102
533
431
5,833
4,873
Realized
Realized
losses and
profits and
transfers to
recoveries,
valuation
and transfers
from valuation adjustment
provisions
adjustment
provisions
DEPOSIT
Current operating expense—total...................................................................
568,498
Memoranda—realized profits and recoveries,
realized losses, and valuation adjustment
provisions1
Table 118.
R
a t io s
of
I ncom e, E xpen ses,
and
D
A m ounts per $100 of current operating income
Insured
M
utual
Sa v in g s B a n k s ,
1952
20.54
3.39
7.21
$2.43
3.05
4.08
4.73
2.27
2.98
1.87
.37
2.14
1.09
.42
4.05
Assets— total.................................................
100.00
AND
79.46
1.62
77.84
64.29
13.55
Cash and due from banks.......................... .
United States Government obligations. . .
Other securities.............................................
Real estate mortgage loans........................ .
Other loans and discounts..........................
Other real estate........................................... .
All other assets..............................................
4.07
37.73
11.53
44.75
.48
.01
1.43
DIVIDENDS
Liabilities and surplus accounts— total
100.00
OF
Total deposits................................................ .
Savings and time deposits..........................
Demand deposits........................................ .
Other liabilities............................................. .
Total surplus accounts................................ .
89.93
89.80
AS
.52
9.55
INSURED
Average assets and liabilities1
EXPENSES,
Current operating expense— to ta l.........................................................................
Salaries— officers...........................................................................................................
Salaries and wages— employees................................................................................
Pension, hospitalization and group insurance payments, and other em
ployee benefits..........................................................................................................
Fees paid to trustees and committee members....................................................
Occupancy, maintenance, etc. of bank premises (including taxes and re
curring depreciation)-net.......................................................................................
Deposit insurance assessments.................................................................................
Furniture and fixtures (including recurring depreciation)................................
All other current operating expense........................................................................
28.83
11.07
57.48
.72
1.04
.86
Interest on U . S. Government obligations per $100 of U . S. Government
obligations...............................................................................................................
Interest and dividends on other securities per $100 of other securities...........
Interest and discount on real estate mortgage loans per $100 of real estate
mortgage loans............................................................................................................
Interest and discount on other loans and discounts per $100 of other loans
and discounts..............................................................................................................
Dividends and interest on deposits per $100 of savings and time deposits.. .
Net additions to total surplus accounts from operations per $100 of total
surplus accounts.........................................................................................................
E A R N IN G S ,
$100.00
3.17
.65
2.52
.05
2.47
2.04
.43
.32
.47
.28
Number of banks, December 31...................
206
BANKS
A m ounts per $100 of total assets 1
Current operating income— total.................................................................................
Current operating expense— total................................................................................
Net current operating income.......................................................................................
State franchise or income tax.......................................................................................
Net current operating income after taxes.................................................................
Dividends and interest on deposits.............................................................................
Net current operating income after taxes and dividends......................................
Non-recurring income, realized profits and recoveries credited to profit and
loss, and transfers from valuation adjustment provisions2— total..................
Non-recurring expense, realized losses charged to profit and loss, and transfers
to valuation adjustment provisions2— total..........................................................
Net additions to total surplus accounts from operations......................................
of
Special ratios1
Current operating incom e— to ta l..........................................................................
Interest on U. S. Government obligations............................................................
Interest and dividends on other securities............................................................
Interest and discount on real estate mortgage loans— net................................
Interest and discount on other loans and discounts— net.................................
Income on other assets...............................................................................................
Income from service operations................................................................................
N et current operating in co m e................................................................................
State franchise or incom e ta x ................................................................................
N et current operating incom e after taxes.........................................................
Dividends and interest on deposits......................................................................
Net current operating incom e after taxes and dividends...........................
iv id e n d s
1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.
2 Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-downs).”
Back figures, 198U and 191+1-1951: Comparable data for 1951 may be found in the 1951 Annual Report, p. 185. Data for prior years, which however are not comparable with
t—1
figures for 1951 and 1952, may be found in the following Annual Reports: 1950, pp. 274-275, and 1947, pp. 154-155.
CO
CO
00
D e p o s it
D is b u r s e m e n t s
Disbursements, deposits, and depositors in insured banks financially aided by the
Table 120. Assets and liabilities of insured banks placed in receivership and of insured banks
absorbed with the financial aid of the Federal Deposit Insurance Corporation,
during 1952
Table 122.
Recoveries and losses by the Federal Deposit Insurance Corporation in connection
with insured banks financially aided by the Corporation, 1934-1952
As shown by books of FDIC, December 31, 1952
CORPORATION
Table 121. Name, location, Federal Deposit Insurance Corporation disbursement, and assets
and liabilities of insured banks absorbed with the financial aid of the Corporation
INSURANCE
1934-1952
As shown by books of bank at date of closing
DEPOSIT
Federal Deposit Insurance Corporation, 1934-1952
Banks grouped by class of bank, year of aid, amount of deposits, and State
FEDERAL
Table 119.
I nsu ran ce
One noninsured bank failed in 1952. The name and location of this
bank and its deposits and date of closing are given below.
Kennesaw State Bank, Kennesaw, Georgia, March 1952, deposits
$143,000.
For suspensions of noninsured banks in previous years, see the
Annual Reports of the Corporation as follows: 1943, p. 102; 1946,
p. 167; 1947, p. 159; 1949, p. 187; 1950, p. 277; and 1951, p. 187.
Sources of data
Insured banks; books of bank at date of closing; and books of FDIC,
December 31, 1952; noninsured bank, news reports.
DISBURSEMENTS
Deposits of insured banks placed in receivership as given in Table
119 are taken from the books of FDIC at the end of the year and differ
from the deposits in Table 120 which are taken from books of the
bank at date of closing. This is because the former include deposits
discovered or reclassified after the date of a bank’s closing.
Noninsured bank failures
INSURANCE
Detailed data for insured banks placed in receivership are omitted
since there has been no receivership since 1944. For such data, see
the Annual Reports of the Corporation for 1946, pages 167 and 171,
and 1950, page 280.
Details of the absorptions during 1952 are given in Table 121. The
disbursements by the Corporation were made to purchase assets from
the selling banks which were not acceptable to the purchasing banks.
DEPOSIT
Disbursements by the Federal Deposit Insurance Corporation
to protect depositors have been made when insured banks because of
financial difficulties are placed in receivership or are absorbed with the
aid of the Corporation. In receiverships the disbursement is the amount
paid by the Corporation on insured deposits. In absorptions the Cor
poration’s disbursement is the amount loaned to absorbed banks, or
the price paid for assets purchased from them.
co
CO
Table 119.
D
is b u r s e m e n t s ,
the
banks
grouped
D
e p o s it s , a n d
F ederal D
by
class
e p o s it
D
e p o s it o r s
of b a n k , year
Disbursements by FDIC
(in thousands of dollars)
in
I n s u r e d B a n k s F in a n c ia l l y A id e d
I n s u r a n c e C o r p o r a t io n ,
of
a id , a m o u n t
o f d e p o s it s ,
and
state
Deposits
(in thousands of dollars)1
Number of banks
by
1934-1952
Number of depositors1
Classification
Total
1
2
3
4
1 Q/4£
1 QAG
1 0 £7
1 QASl
1 Q1Q
1QKA
1 Q*1
1952
Total
420
245
175
540,653
Receiver
ships
109,590
Absorp
tions
Total
431,063
1,366,515
Receiver
ships
382,722
Absorp
tions3
983,793
52,883
14,808
38,075
73
21
52
112,530
19,474
93,056
290,348
55,406
234,942
101,205
121,956
20,934
51,302
80,271
70,654
22
6
325
218
16
107
187,656
240,467
26,537
63,579
161,119
176,888
368,424
707,743
82,818
244,498
285,606
463,245
941
8,890
14,781
19,160
30,479
67,771
74,134
941
6,025
8,056
12,044
9,092
26,197
4,895
2,865
6,725
7,116
21,387
41,574
69,239
9
25
69
75
74
60
43
9
24
42
50
50
32
19
27
25
24
28
24
1,968
13,320
27,508
33,349
59,684
157,772
142,430
1,968
9,091
11,241
14,960
10,296
32,738
5,657
4,229
16,267
18,389
49,388
125,034
136,773
15,767
44,655
89,018
130,387
203,961
392,718
256,361
15,767
32,331
43,225
74,148
44,288
90,169
20,667
12,324
45,793
56,239
159,673
302,549
235,694
23,880
10,825
7,172
1,503
1,768
265
12,278
1,612
5,500
404
15
8
6
7
14
29,717
19,185
12,525
1,915
5,695
347
14,730
1,816
6,637
456
14,987
17,369
5,888
1,459
5,695
347
73,005
60,687
27,371
5,487
12,483
1,383
38,594
5,717
16,917
899
7,040
10,657
5,475
5,501
3,408
3,157
10,637
18,540
5,671
6,365
5,276
6,743
11,602
9,213
1,672
1,099
1,768
265
1,724
2,990
2,551
3,986
1,885
1,339
1,724
2,990
2,551
3,986
l|885
1,339
20
5
2
1
1
4
1
1
1
1
1
1
5
3
4
4
34,411
54,970
10,454
4,588
12,483
1,383
10,637
18,540
5,671
6,365
5,276
6,743
2
2
3
3
7,040
10,657
5,475
5,501
3,408
3,157
6,358
17,759
20,976
4,947
13,920
12,462
1,411
3,839
8,514
38,055
83,370
89,949
29,695
65,512
56,777
8,360
17,858
33,172
5
3
4
4
Banks with deposits of—
$ 100,000 or less........................
$100,000 to $250,000..............
$250,000 to $500,000..............
4,946
12,906
14,588
4,308
11,554
10,223
638
1,352
4,365
106
109
59
83
36
23
23
23
$500,000 to $1 ,000,000...........
$ 1 , 000,000 to $2 , 000,000 ____
$2,000,000 to $5,000,000____
27,868
30,960
46,813
13,901
8,961
12,421
13,967
21,999
34,392
58
41
29
24
9
5
34
32
24
43,427
59,248
88,315
17,590
11,748
16,279
25,837
47,500
72,036
147,605
191,149
225,188
63,487
54,324
51,756
84,118
136,825
173,432
$5,000,000 to $10,000,000. . .
.
.
23,400
40,910
73,653
23,400
15,234
73,653
10
25,676
2
10
2
65,397
79,755
159,418
32,644
65,397
47,111
159,418
170,841
148,030
272,328
61,171
170,841
86,859
272,328
$10,000,000 to $25,000,000.
$25,000,000 to $50,000,000.
4
4
86
4
CORPORATION
194
194
194
194
..
189,000
Absorp
tions
INSURANCE
Year
1934
193 5
193 6
193 7
193 8
193 9
194 0
87,044
Receiver
ships
Total
DEPOSIT
Class of bank
National banks.........................
State banks members F . R.
System....................................
Banks not members F. R . S ..
276,044
Absorp
tions2
FEDERAL
All banks......................................
Receiver
ships
8
8
1,242
1,242
Florida........................................
Georgia.......................................
Illinois.........................................
Indiana.......................................
Iowa.............................................
300
863
4,387
6,197
1,456
203
846
1,242
3,096
385
97
17
3,145
3,101
1,071
20
6
Kansas........................................
Kentucky...................................
Louisiana....................................
Maryland...................................
Massachusetts..........................
974
4,594
482
3,329
668
668
492
1,265
22
Michigan....................................
Minnesota..................................
Mississippi.................................
Missouri.....................................
Montana.....................................
6,289
640
257
4,981
639
139
640
257
4,335
186
Nebraska....................................
New Hampshire.......................
New Jersey................................
New York..................................
North Carolina.........................
469
118
80,760
67,334
2,387
25,103
10,835
1,156
North Dakota...........................
Ohio.............................................
Oklahoma...................................
Oregon.........................................
Pennsylvania.............................
2,656
2,444
962
51,112
South Carolina..........................
South Dakota...........................
Tennessee...................................
Texas...........................................
Vermont.....................................
Virginia.......................................
Washington................................
West Virginia............................
Wisconsin...................................
Wyoming....................................
3,109
1,564
995
115
861
735 .........2,374
1,564
3
6
1
1
2
2
8
17
9
3
5
2
1
5
’1
2
1
7
6
15
3
5
18
3
2
2
1
1
1
1
11
5
3
4
4
3
2
6,150
8
646
453
5
3
46
5
4
4
118
55,657
56,499
1,231
38
25
7
ii'
3
22
29
3
18
8
1
5
11
1
10,133
1,259
258
1,311
962
40,979
28
‘8
274
2,412
1,278
2,761
3,445
136
2,388
1,164
2,468
3,259
138
24
114
293
186
2
1
4,907
935
1,458
7,188
511
1,868
202
469
1,397
1,610
1,133
1,458
5,096
1
23
3
5
3
34
3
2
2
22
5
12
2
1
27
5
3
1
20
1
1
8
4
18
3
16
2
2
1
4,396
935
8
1
3
5
2,092
3
31
*3
202
12
1
1
20
11
1
2,286
1,751
1,078
101
1,168
8
8
1,526
1,526
491
1,027
10,363
13,594
5,516
217
998
1,637
3,932
498
2,185
583
1,078
7,905
4,425
3,169
794
3,529
10
10
5,379
5,379
1,642
8,094
448
7,773
5,372
12,549
1,676
1,194
321
15,830
17,457
11,989
274
29
8,726
9,662
5,018
30,006
13,665
539
694
3,954
3,997
1,652
828 .........8,738
3,019
5,145
34,620
6,087
22,567
9,046
2,254
18,490
6,087
6,643
2,891
16,130
13,531
818
334
7,149
1,095
160
818
334
5,116
215
928
2,650
1,651
26,760
849
30,735
2,033
880
31,663
2,650
1,651
34,929
1,500
538
296
192,417
138,811
3,266
30,915
13,286
1,421
296
161,502
125,525
1,845
2,224
1,780
520,380
259,889
10,408
101,614
28,440
3,677
2,278
794
2,694
1,302
60,100
14,103
8,544
10,795
2,208
164,513
43,828
7,343
959
4,921
2,208
120,685
1,848
12,515
12,358
19,862
11,057
403
11,412
9,993
18,334
8,687
1,445
1,103
2,365
1,528
2,370
26,041
2,964
4,179
8,346 .........8,346
26,898
18,739
3,212
23,077
4,179
1,233
7,951
1,652
4,566
3,019
13,371
538
1,552
2,345
1,659
3,830
3,139
4,353
1,302
74,440
14,340
850
2,988
1,942
3,925
3,725
136
2,862
1,620
3,239
3,375
714
126
322
10,756
1,537
2,006
9,511
2,033
629
10,127
1,537
686
350
2,006
5,966 .........3,545
2,033
21,202
15,924
9,046
8,169
651
2,224
6,760
7,585
5,874
1 Adjusted to December 31, 1952.
2 Excludes excess collections turned over to banks as additional purchase price at termination of liquidation. Previous reports included these payments.
3 Number of deposit accounts.
7,111
896
3,169
1,780
418,766
231,449
6,731
8,159
3,212
D IS B U R SE M E N T S
94
841
INSURANCE
1,089
956
861
DEPOSIT
State
Alabama.....................................
Arkansas.....................................
California...................................
Colorado.....................................
Connecticut...............................
142
».
A ssets
and
the
L ia b il it ie s
F in a n c ia l
of
A id
as
I nsured
of
the
sho w n
B anks
P laced
by
books
of
bank
R e c e iv e r s h ip
in
F e d e r a l D e p o s it
Insurance
at
date
of
and
of
Insured
C o r p o r a t io n ,
Liabilities and capital accounts
otal
otal
Banking
house,
furniture &
fixtures
Other
Total
Total
deposits
Other
liabilities
R . F . C.
capital
Private
capital
stock
Other
capital
accounts1
$82,013,474 $74,415,086 $240,939,844 $22,568,643 $59,563,796 $13,699,503 $616,582,744 $537,307,317 $11,693,215 $25,155,114 $38,463,611 $3,963,487
$10,154,078 $15,946,562
$65,569,217
$5,375,616 $12,293,686
$71,859,396 $58,468,524 $175,370,627 $17,193,027 $47,270,110
$8,330,507 $140,290,048 $107,374,564 $10,122,023
$5,368,996 $476,292,696 $429,932,753
4,228,816
16,287,262
18,384,923
49,428,383
125,038,946
136,731,549
140
19,769
262,651
168,674
679,659
157,766
1,014,582
1,824,586
15,844
67,428
4,609
197,669
354.362
34,523
32,108
83,603
425
16,992,727
20,652,721
6,676,573
1,650,788
6,391,915
351,169
14,990,768
17,195,146
5,897,691
1,459,091
5,695,202
316,402
57,508
584
56,630
1
112,200
19,196
215
156,808
5,853
26,030
11,493
54,320
6,797,738
10,360,196
4,885,620
4,005,118
3,049,908
2,388,391
6,965,742
10,454,520
4,977,235
5,466,946
3,408,095
3,006,036
1,403,807
2,080,059
3,520,186
10,377,037
16,266,036
17,987,527
2,256,417
8,917,554
8,678,629
20,896,236
44,289,765
60,687,428
608,467
1,277,605
562,181
2,873,257
5,142,882
4,553,388
1941
1942
1943
1944
1945
1946
801,273
3,547,766
2,903,771
585,251
1,371,925
114,326
2,835,309
2,275,392
555,383
230,282
55,504
30,236
8.178.623
7,731,137
1,675,734
367,086
2,435,488
77,049
798,028
759,861
274,331
1947
1948
1949
1950
1951
1952
2,201,186
1,013,657
647,349
335,163
625,657
781,093
318,322
178,720
217,903
89,643
6,450
40,728
1,452,370
2,015,414
1,336,785
1.965.624
1,484,869
924,419
1,184,658
926,359
3,913,009
15,459,743
22,840,095
2,369
61,705
40,500
34,502
35,121
310.000
609,200
3,726,463
6,103,500
7,186,655
373,772
685,333
21,006
-428,459
-614,475
1,196,087
289.000
913,400
96,000
1,111,250
1,748,200
300.000
544,201
795,391
382,882
-8 ,3 0 3
365,213
24,767
200.000
331.500
10,000
5,959
200,915
8,659
8,908
undivided profits, and reserve funds minus deficit, if any, as shown by books. Minus (-) indicates net deficit.
has been placed in receivership since 1944. For data by years see the Annual Report of the Corporation for 1950, p. 280.
$-679,429
315.000
1.664.000
1,808,400
2,697,650
6.381.000
8,666,162
15,000
9,650
-365,504
197.500
-469,324
375,000
-255,074
142.500
114,150 -1,7 8 6 ,5 4 3
-451,846
85.000
-688,553
62.000
CORPORATION
4,917,728
18,966,364
21,086,180
55,592,711
137,588,630
153,938,219
233,395
2,071,296
2,495,254
7,018,796
27,929,162
17,183,076
$5,896,246 $12,254,299 $4,642,916
$1,571,192 $19,258,868 $26,209,312
10,808
325.362
186,497
2,380,489
1,049,600
458,831
1935
1936
1937
1938
1939
1940
ill
2 Is
Other
real
estate
INSURANCE
BSOI
Loans,
discounts,
and
overdrafts
DEPOSIT
ECEI
Other
securities
w it h
FEDERAL
otal
U . S. Gov
ernment
obligations
A bsorbed
c l o s in g
Assets
Year
B anks
1934-1952
Table 121.
N
am e,
L o c a t io n , F e d e r a l D
I nsured B
anks
e p o s it
A bsorbed
w it h
Insu ran ce C
th e
o r p o r a t io n
F in a n c ia l A
id
of
D
is b u r s e m e n t ,
the
C
o r p o r a t io n
and
D
A
ssets
u r in g
and
L ia b il it ie s
of
1952
Disbursement
Case
number
Name and location
Number of
accounts1
Class of bank
Absorbing bank
Date
Amount2
173
Thomasville Bank and Trust Co.
Thomasville, Alabama
State bank not
member F. E . System
4,674
January 21, 1952
174
Camden State Bank
Camden, Illinois
State bank not
member F. R. System
1,173
May 5, 1952
372,550
Rushville State Bank
Rushville, Illinois
175
Bank of Dierks
Dierks, Arkansas
State bank not
member F. R. System
896
September 2,1952
114,393
Horatio State Bank
Horatio, Arkansas
$852,735
Assets
Case
number
Cash and
due from
banks
U . S. Gov
ernment
obligations
175
118,253
274,253
$40,728
$465,783
$30,121
00
309,120
Banking
house,
furniture &
fixtures
a
rJJ
©
$197,719
143,357
CO
$291,100
Liabilities and capital accounts
Loans,
discounts,
and
overdrafts
00
173
174
Other
securities
Bank of Thomasville
Thomasville, Alabama
78,138
5,000
Other
real
estate
Other
assets
Total
Deposits3
Other
liabilities
R . F. C.
capital
Other
capital
accounts4
$5,149
$1,030,600
$1,757,004
$7,077
$25,000
5,273
838,248
817,072
927
12,000
8,249
43,8986
519,542
582,566
2,404
25,000
-90,428
1 Number of accounts as of December 31, 1952, from books of FDIC.
I
^ December 31., 1952; does not include preliminary and field liquidation expense or advances for the protection of assets incident to the transaction.
\ t 8 , i ermmed by FD IC agents after adjustment of books of bank for liabilities discovered subsequent to closing as of December 31, 1952.
« Includes surplus, undivided profits, and reserve funds minus deficit, if any, after adjustment for liabilities discovered subsequent to closing.
6 Includes overdrafts of $201,749.
8 Includes shortage account of $42,629.
Private
capital
stock
$-758,481
Table 122.
R
e c o v e r ie s
and
In su red
L
osses
by
the
F ederal D
B a n k s F in a n c ia lly
A id e d
e p o s it
by th e
I n s u r a n c e C o r p o r a t io n
C o r p o r a t io n ,
AS SHOWN BY BOOKS OF FDIC, DECEMBER
(Amounts in thousands of dollars)
Losses1
Number
of
banks
FDIC
disburse
ment
Re
coveries
420
276,044
247,392
1,020
27,632
245
87,044
72,866
7
413
6,739
269,305
3,669
243,723
1,020
2,050
25,582
245 '
87,044
Year
1934
1935
1936 .
1937
1938
1939
1940........................
9
25
69
75
74
60
43
941
8,890
14,781
19,160
30,479
67,771
74,134
734
6,160
12,370
15,607
28,047
60,555
69,957
9
24
42
50
50
32
19
1941..................
1942...................
1943
1944
1945
1946
20
5
2
1
1
15
23,880
10,825
7,172
1,503
1,768
265
23,267
10,139
7,048
1,463
1,768
265
1,724
2,990
2,551
3,986
1,885
1,339
1,396
2,346
2,173
2,391
1,354
352
5
3
4
4
2
3
207
2,730
2,411
3,553
2,432
7,216
4,177
613
686
124
40
214
175
404
227
3114
644
378
*1,420
*127
*760
8
6
4
1
Re
coveries Estimated
to
additional
December recoveries
31, 1952
Number
of
banks
FDIC
disburse
ment2
14,178
175
189,000
174,526
1,020
13,454
14,178
7
168
6,739
182,261
3,669
170,857
1,020
72,866
2,050
11,404
941
6,025
8,056
12,044
9,092
26,197
4,895
734
4,274
6,596
9,517
7,908
20,399
4,313
207
1,751
1,460
2,527
1,184
5,798
582
27
25
24
28
24
2,865
6,725
7,116
21,387
41,574
69,239
5,774
6,090
20,139
40,156
65,644
12,278
1,612
5,500
404
12,065
1,320
5,376
364
213
292
124
40
Losses
1
1,886
979
951
1,026
1,248
1,418
3,595
400
394
7
14
11,602
9,213
1,672
1,099
1,768
265
11,202
5
3
4
4
1,724
2,990
2,551
3,986
1,885
1,339
1,396
2,346
2,173
2,391
1,354
352
1
1
1
1
2
3
Losses
8,819
1,672
1,099
1,768
265
214
175
404
227
*114
644
378
*1,420
*127
*760
1 Sum of losses in the cases in which the disbursement by the Corporation was not paid in full. Excludes interest or allowable return in cases in which the disbursement by the
Corporation was fully recovered. Also excludes gains or losses on assets purchased by the Corporation from liquidations. _
2 Excludes excess collections turned over to banks as additional purchase price at termination of liquidations. Previous reports included these payments.
* Estimated.
COR PO R ATIO N
Estimated
additional
recoveries
1947 . . .
1948
1949
1950___
1951
1952
Absorptions
INSURANCE
Re
coveries
to
December
31, 1952
Status
Active .
Terminated
^
31, 1952
DEPOSIT
FD IC
disburse
ment
£
w it h
FEDERAL
Number
of
banks
T o ta l.........................
C o n n e c t io n
Receiverships
All banks
Liquidation status
and year of
receivership or
absorption
in
1934-1952
INDEX
I
n d e x
Page
Absorptions:
Of insured banks with financial aid of the Corporation. See Banks in financial
difficulties.
Of operating banks, 1952......................................................................................... 84-85
Admission of banks to insurance:
Applications approved......................................................................................... 14-15, 84
By class of bank, 1952............................................................................................. 84-85
Areas outside continental United States, banks and branches located in:
Assets and liabilities, December 31, 1952.......................................................... 106-107
Deposits of, December 31, 1952............................................................................. 98-99
Earnings, expenses, profits, and dividends, 1952..............................................126-127
Number of, December 31, 1952............................................................................. 86, 93
Assessment on insured banks for deposit insurance. See Federal Deposit In
surance Corporation.
Assets and liabilities of closed banks. See Banks in financial difficulties.
Assets and liabilities of operating banks (see also Capital of banks; Deposits;
Loans, by banks; Securities):
All banks:
Amount and changes in, by type, 1952..........................................................
31
Amount and percentage distribution, by type, December, 1946-1952.. 34-35
By FDIC district and State, December 31, 1952.......................................106-107
In banks grouped according to insurance status and type of bank,
June 30 and December 31, 1952.............................................................. 102-105
Investments, State legislation pertaining to..................................................
80
Percentage changes, yearly and average, 1947-1952....................................
35
Percentage distribution, December 31, 1952.................................................
32
Percentage distribution, total liabilities, December 31, 1952...................
33
Commercial banks, June 30 and December 31, 1952...................................... 102-105
Insured banks, December 31, 1951, June 30 and December 31, 1952___ 108-111
Insured commercial banks:
Amount by type, December, 1946-1952......................................................... 37, 39
Amount, December 31,1951, June 30 and December 31,1952.. 102-105,108-111
Averages, by State, class of bank, and size of bank, 1952.........................
............................................................................119, 123, 127, 129, 131, 133, 135
Averages of principal components, 1943-1952...............................................
115
Reports of.............................................................................................................
16
Insured mutual savings banks:
Amount, December 31, 1951, June 30 and December 31, 1952.......... 108-111
Amount, June 30 and December 31, 1952................................................... 102-105
Averages of principal components, 1952........................................................
136
Mutual savings banks:
Amount, by type, December, 1946-1952........................................................
51
Amount, June 30 and December 31, 1952................................................... 102-105
Noninsured banks, June 30 and December 31, 1952....................................... 102-105
Sources of data...........................................................................................................
101
Assets and liabilities of the Federal Deposit Insurance Corporation. .19-20, 23, 25, 27
Assets pledged to secure bank obligations................................................................
I ll
Assets purchased by the Federal Deposit Insurance Corporation:
From banks absorbed with financial aid of the Corporation. See Banks in
financial difficulties.
From banks in receivership............................................................................7-11, 20, 27
Liquidation of....................................................................................................... 10-11, 27
147
148
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Audits. See Federal Deposit Insurance Corporation.
Bank supervision (see also Examination of insured banks):
Activities of the Federal Deposit Insurance Corporation................................. 12-16
State legislation, 1952..............................................................................................
79
Banking offices, establishment of:
Banks beginning operations, 1952..................................................................................84
Branches, establishment approved by Corporation........................................... ........15
Branches opened, 1952.....................................................................................................85
State legislation.............................................................................. .......................... ........ 79
Banking offices, number of. See Number of operating banks and branches.
Banking practices. See Unsafe and unsound banking practices.
Banks and branches ceasing operations:
All banks and branches, 1952................................................................................. 84-85
Branches of insured banks, 1952......................................................... ..................
85
Insured banks, 1952..................................................................................................84, 143
Noninsured banks, 1952...........................................................................................84, 139
Banks in financial difficulties:
Absorptions of insured banks with financial aid of the Corporation:
Assets and liabilities at date of absorption, by years, 1934-1952.......... 142-143
Banks cited for unsafe and unsound practices........ .................................
13-14
Deposits protected................................................................................. 7-10, 140-143
Disbursements by the Corporation................................... 7-11, 140-141, 143-144
Loans made and assets purchased by Corporation..... ...................7, 9-11, 20, 27
Losses incurred by Corporation.............................................8-9, 11-12, 21, 24, 27
Name and location of banks absorbed, 1952.................................................
143
Number of banks absorbed.....................................................7, 9-11, 140-141, 144
Number of depositors affected by............................................. .7, 9, 140-141, 143
Recoveries by the Corporation on assets acquired........................... 9-11, 28, 144
Sources of data....................................................................................................
139
7-9
Depositors protected by the Corporation in closed banks...............................
7-9
Depositors sustaining loss in closed insured banks, number of.......................
Insured banks closed:
Deposits of............................................................................................... 7-12, 140-143
Disbursements by the Corporation in connection with.. 7-12, 140-141, 143-144
Loss to depositors................................................................................................
7-8
Loss to Federal Deposit Insurance Corporation......................................8-12, 144
Number, 1934-1952....................................................................... 7-12, 140-141, 144
Noninsured bank suspensions, 1952..................................... .................................84, 139
Receivership, insured banks placed in:
Activities of the Corporation as receiver of................................................... 7-11
Assets and liabilities of, at dates of suspension, 1934-1952.......................
142
Depositors’ losses................................................................................................
7-8
Deposits, 1934-1952......................................................................................... 7-9, 140
Disbursements by the Corporation................................... 7-12, 140-141, 143-144
Losses by the Corporation on disbursements.................................... 8-12, 24, 144
Number of banks.......................................................... ..................... 7, 140-141, 144
Payments to depositors.................................................. ................................... 7-12
Recoveries by the Corporation on disbursements................................... 9-10, 144
Sources of data.....................................................................................................
139
Banks, number of. See Number of operating banks and branches.
Banks operating branches. See Banking offices, establishment of; Number of
operating banks and branches.
Board of Directors of the Federal Deposit Insurance Corporation.............iv, v, 17-18
Board of Governors of the Federal Reserve System, data obtained from----- 101, 113
Branches. See Banking offices, establishment of; Classification of banks and
banking offices; Number of operating banks and branches.
INDEX
149
Page
Bureau of Internal Revenue, Commissioner’s ruling. See U. S. Treasury
Department.
Business and personal deposits (see also Deposits [items referring to type of
account] ) . . . .........................................................................................34, 106-107
Call reports. See Assets and liabilities of operating banks; Reports from banks.
Capital of banks {See also Assets and liabilities of operating banks; Earnings
and expenses of insured commercial banks; Earnings and expenses
of insured mutual savings banks):
All banks, percentage distribution.........................................................................
33
Growth........................................................................................................................
31
Insured banks placed in receivership or absorbed with financial aid of the
Corporation..................................................................................................142-143
Net additions as a proportion of net profits, insured commercial banks.. . .
48
33
Percentage distribution, December 31, 1952.......................................................
Ratios to total assets, insured commercial banks, 1952...................40, 109, 121, 125
Total capital accounts:
Commercial and mutual savings banks, insured and noninsured, June 30
and December 31, 1952.............................................................................103, 105
Insured banks, December 31, 1951, June 30 and December 31, 1952..
I ll
Charge-offs by banks. See Earnings and expenses of insured commercial banks;
Earnings and expenses of insured mutual savings banks.
Class of bank, banking data presented by (see also Deposits):
Admissions to and terminations of insurance...................................................... 84-85
Banks absorbed with financial aid of the Corporation, 1952...........................
143
Earnings of insured commercial banks, 1952.................................................... 118-121
Insured banks financially aided by the Corporation, 1934-1952..................
140
Number of banks and banking offices, 1952........................................................ 84-93
Ratios of earnings of insured commercial banks, 1952....................................120-121
Classification of banks and banking offices................................................................ 82-83
Closed banks. See Banks and branches ceasing operations; Banks in financial
difficulties.
Commercial banks. See Assets and liabilities of operating banks; Capital of
banks; Deposits; Earnings and expenses of insured commercial
banks; Number of operating banks and branches.
Commissioner of Internal Revenue, ruling on reserve for bad-debt losses on
loans........................................................................................................46, 101, 113
Comptroller of the Currency:
Data obtained from................................................................................................101, 113
Director of Corporation..................................... ............................................. iv, v, 17-18
Comptroller General of the United States.................................................................. 25-26
Consolidations. See Absorptions.
Credit, bank, expansion of during 1952. See Deposits; Loans, by banks.
Defalcations in banks.....................................................................................................
7
Demand deposits. See Assets and liabilities of operating banks; Deposits (items
referring to type of account).
Deposit insurance fund:
Amount, 1934-1952....................................................................................................
Ratio of, to total and insured deposits, insured banks, 1934-1952...............
4
5
Deposits:
Amount of, all banks:
By class of bank in each State and FDIC district, December 31, 1952.. 98-99
150
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Deposits:— Continued
Amount of, all banks:— Continued
By insurance status of bank and type of account, December 31, 1952..
105
By insurance status of bank and type of account, June 30, 1952...........
103
By type of account, December 31, 1951-1952...............................................
31
By type of account in each State and FDIC district, December 31,1952.106-107
Amount of, all insured banks:
Annually, 1934-1952...........................................................................................
4
By State, as percentage of deposits in all banks, December 31, 1 9 5 2 ....
6
By type of account, December 31, 1952........................................................
105
By type of account, December 31, 1951, June 30 and December 31, 1952
110
By type of account, June 30, 1952..................................................................
103
Insured and total, 1934-1952............................................................................
3-4
Amount of, banks receiving financial aid from the Corporation.......... 7-9, 140-143
Amount of, commercial banks:
By FDIC district and State, December 31, 1952....................................... 98-99
By type of account, December 31, 1952................... .....................................
105
By type of account, June 30, 1952.............. .............................................. ....
103
Amount of, insured banks placed in receivership or absorbed with financial
aid of the Corporation. See Banks in financial difficulties.
Amount of, insured commercial banks, by type of account, December 31,
1951, June 30 and December 31, 1952.....................................................
110
Amount of, insured mutual savings banks:
As percentage of deposits of all banks, December 31, 1952.......................
50
By FDIC district and State, December 31, 1952........................................ 98-99
By State, December 31, 1952...................................................................... 52, 98-99
By type of account, December 31, 1951, June 30 and December 31, 1952
110
Amount of, mutual savings banks:
By FDIC district and State, December 31, 1952......................................... 98-99
By State, December 31, 1952....................................... ...............................52, 98-99
By type of account, December 31, 1952......................................................105, 110
By type of account, June 30, 1952..................................................................
103
Amount of, noninsured banks:
By FDIC district and State, December 31, 1952........................................ 98-99
By type of account and type of bank, December 31, 1952........................
105
By type of account and type of bank, June 30, 1952.................................
103
Mutual savings banks, by State, December 31, 1952.................................
52
Insured, 1934-1952....................................................................................................
4
Interest on...................................................................................................43, 46, 114-134
33
Percentage distribution of, all banks, December 31, 1952...............................
Percentage distribution of, insured mutual savings banks, by State, Decem
ber 31, 1952...................................................................................................
50
Sources of data....................................................................... ...................................
100
State legislation...................................................................... ..................................
80
Dividends:
To depositors in insured mutual savings banks...................................50, 55, 136-137
To stockholders of operating insured commercial banks. See Earnings and
expenses of insured commercial banks.
Earnings and expenses of insured commercial banks:
Accounting procedures used in reporting.............................................................
40
Amounts of principal components:
Annually............................................................................ ................................ 114-115
By class of bank, 1952.................................................... ................................ 118-119
By size of bank, 1952.......................................................................................122-123
By State, 1952................................................................................................... 126-135
Charge-offs and recoveries:
Amounts, 1947-1952........................................................................................... 42, 44
Banks using reserve method of accounting for bad-debt losses on loans,
1948-1952........................................................................................................ 46-47
Recoveries and profits on sale of assets..........................................................
44
Current operating earnings and expenses, 1952.................................................. 40-46
Dividends.................................................................................................................... 48-49
Income, sources and disposition of total, 1947-1952.......................................... 40-42
INDEX
151
Earnings and expenses of insured commercial banks;—Continued
Net profits after taxes:
Amounts.......................................................................47-48, 115, 119, 123, 127-135
Disposition of, 1952............................................................................................ 48-49
Ratios of earnings items:
Rate of income on loans and securities............................... 43-44, 117, 121, 125
Rate of interest on time and savings deposits...................43, 46, 117, 121, 125
Rate of net profit and cash dividends, by size of bank, 1952 ...................
49
Rate of net profit on total capital accounts, by State, 1952..................... 43, 48
Rate of service charges on demand deposits........................... .43, 117, 121, 125
To current operating earnings, total assets, and total capital accounts,
1944-1952............................................ .................................... ......................
116
To current operating earnings, total assets, and total capital accounts,
by class and size of bank, 1952............................................... 120-121, 124-125
Salaries and wages, 1952 .......................................................................................... 44-45
Sources of data........................................ .................................................................
113
Taxes 1952 .........................................................................................................41 —42 47
Valuation reserves, transfers to and from. .46, i i 3 -i l4 , i i .8 - i l 9 ,122-123, 126-135
Earnings and expenses of insured mutual savings banks:
Amounts of principal components, 1952......................................................53, 136-137
Dividends to depositors...........................................................................50, 55, 136-137
Income, sources and disposition of total, 1952.................................................... 53-54
Rates of income on loans and securities and dividends on deposits........ 53-55, 137
Ratios of earnings and expense items to current operating earnings and
total assets, 1952...........................................................................................
137
Ratio of surplus to total assets..............................................................................
55
Salaries and wages, 1952......................................................................................... 54-55
Sources of data...........................................................................................................
113
Taxes............................................................................................................................
55
Valuation adjustment provisions, transfers to and from..................................
54
Educational program for examiners. See Federal Deposit Insurance Corporation.
Employees:
Federal Deposit Insurance Corporation.......................................................... 17-18, 28
Insured commercial banks:
Average salary, 1952........................................................................................... 44-45
Number and compensation, 1944-1952.................................... .................... 114-115
Number and compensation, by class of bank, by size of bank, and by
State, December 31, 1952....................................... 118-119, 122-123, 126-135
Insured mutual savings banks:
Average salary, 1952...........................................................................................
55
Number and compensation, 1952....................................................................
136
Examination of insured banks:
Banks examined by the Federal Deposit Insurance Corporation, 1 9 5 2 .... 12-13
Examination staff...................................................................................................... 18-19
Expenses of banks. See Earnings and expenses of insured commercial banks;
Earnings and expenses of insured mutual savings banks.
Expenses of the Corporation. See Federal Deposit Insurance Corporation,
income and expenses.
Failures. See Banks and branches ceasing operations; Banks in financial
difficulties.
Federal bank supervisory authorities..........................................................................
13
Federal Deposit Insurance Corporation:
Assessments on insured banks.................................................................5, 20-24, 27-28
Assets and liabilities.........................................................................19-20, 23, 25, 27-28
Audits.............................................................. .............. ............................................. 25-28
Banks examined by, and submitting reports to............................................. 12-13, 16
Bank supervisory activities................................................................................ 12-13, 16
Board of Directors........................................................................................... iv, v, 17-18
Borrowing power.......................................................................................................
28
152
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Federal Deposit Insurance CorporationContinued
Capital stock...................................................................................................20-21, 25, 27
Contingent liability...................................................................................................
3-4
Deposit insurance fund (surplus)...........................................3-5, 20-22, 24-25, 27-28
Depositors protected by. See Banks in financial difficulties.
Directors of the Federal Deposit Insurance Corporation................................. 17-18
Disbursements for protection of depositors. . , .....................7-11, 140-141, 143-144
Districts...................................................................................................................... vi, vii
Divisions.................................................................................. ................................... iv, 18
Educational program for bank examiners............................................................ 18-19
Employees, number of..............................................................................................
18
Examination of banks. See Examination of insured banks.
Federal Deposit Insurance Act, 1950.................................................................3, 23, 28
Income and expenses.............................................................................. 19, 21-24, 27-28
Insured banks receiving financial aid from. See Banks in financial difficulties.
Insured deposits. See Banks in financial difficulties; Deposits.
Liabilities.................................................................................................. 19-20, 23, 25, 27
Loans to and purchase of assets from insured banks. See Banks in financial
difficulties.
Losses incurred, 1934-1952.............................................................................8-11, 21, 27
Methods of protecting depositors. See Banks in financial difficulties.
Organization and staff............................................................ ........................ iv, v, 17-18
Payments to insured depositors................................................................ 7-11, 140-141
Protection of depositors. See Banks in financial difficulties.
Purchase of assets of banks in receivership................................ ........................
7-8
Receiver for insured banks......................................................................................7-8,10
Recoveries.............................................................................................................. 7-11, 144
Reports from banks..................................................................................................
16
Reserves for losses on assets acquired.................................................................. 20, 27
Retirement of capital stock of the Corporation..................................................20, 23
Rules and regulations....................................................................................13-14, 17, 79
Supervisory activities............................................................................................... 12-16
Surplus (deposit insurance fund)........................................... 3-5, 20-22, 24-25, 27-28
Federal Deposit Insurance Corporation districts, banking data classified by:
Assets and liabilities of all banks, December 31, 1952.......................................
Deposits. See Deposits.
Number and deposits of banks, by type of bank, December 31, 1952..........
106
98
Federal Reserve System. See Board of Governors of the Federal Reserve System.
Fixed and miscellaneous assets. See Assets and liabilities of operating banks;
Banks in financial difficulties.
General Accounting Office.............................................................................................
26
Government deposits. See Deposits (items referring to type of account).
History of bank obligation insurance, 1829-1930:
State guaranty systems:
Assessments.............................................................................................. 63, 65, 70-71
Bank failures, effect of.......................................................................................
72
Bank participation................................................................................... 62-64, 68-70
Character.............................................................................................................. 64, 66
Coverage........................................................................... .................. 61-62, 64, 67-68
Custody of insurance funds...............................................................................
70
Deposits of banks participating.......................................................................
70
Differences among.................................................................................... 60-63, 68-69
Free banking, effect of.......................................................................................
63
Future studies......................................................................................................
59
Legislation............................................................................................................
61
National bank conversions, effect of...............................................................65, 68
Payments to depositors and noteholders............................... 63, 65-67, 69, 71-72
Periods of operation............................................................................................ 60-61
Purpose......................................................................................................... .. .59-60, 66
Size of funds.........................................................................................................
63
INDEX
153
Page
History of bank obligation insurance, 1829-1930:—Continued
State guaranty systems:— Continued
States adopting................................................... ........................ 60-62, 64, 67-68, 70
United States Supreme Court decision affecting..........................................
59
United States Government guaranty of national bank notes.......................... 65-66
Income of insured banks. See Earnings and expenses of insured commercial
banks; Earnings and expenses of mutual savings banks.
Income of the Federal Deposit Insurance Corporation. See Federal Deposit
Insurance Corporation.
Insolvent banks. See Banks in financial difficulties.
Insurance of bank obligations prior to Federal Deposit Insurance. See History
of bank obligation insurance, 1829-1930.
Insurance status, banks classified by:
Assets and liabilities of, June 30 and December 31, 1952............................. 102-105
By number of commercial banking offices in center in which located and
by type of office and population of center in which located............... 96-97
Changes in number of, 1952................................................................................... 84-85
Deposits of, December 31, 1952................................. ........................................... 98-99
In each State, December 31, 1952.............................................................. 86-93, 98-99
Mutual savings banks, number and deposits, by State, December 31, 1952..
52
Number of, December 31, 1952................................................................... ..........
4-5
Percentage of banks insured, by State, December 31, 1952.............................
5-6
Insured commercial banks not members of the Federal Reserve System. See
Class of bank, banking data presented by.
Insured commercial banks submitting reports to the Corporation...................
16
Insured deposits. See Banks in financial difficulties; Deposits.
Insured loans......................................................................................................... 37-38, 54-55
Insured State banks members of the Federal Reserve System. See Class of
bank, banking data presented by.
Interbank deposits. See Deposits (items referring to type of account).
Interest. See Earnings and expenses of insured commercial banks; Earnings
and expenses of insured mutual savings banks.
Interest on capital advanced to the Federal Deposit Insurance Corporation.. .
24
Investments of banks. See Assets and liabilities of operating banks; Securities.
Law, violations of by insured banks. See Unsafe and unsound banking practices.
Legislation relating to deposit insurance and banking:
Federal, enacted in 1952:
Capital requirement changes, State banks and branches, members
Federal Reserve System.............................................................................. 17, 78
Insurance of deposits payable at Puerto Rico branches............................. 17, 75
National Bank Conversion Act, modification of. See National Bank
Conversion Act.
National Bank Merger Act. See National Bank Merger Act.
State, enacted in 1952..........................................................................................17, 79-80
Liquidation, banks placed in, 1952..............................................................................
84
Loans:
By banks (see also Assets and liabilities of operating banks):
Amount and percentage distribution in all banks, by type, 1946-1952.. 32-36
Amount in insured commercial banks, by type, December 31, 1946-1952
39
Growth in insured commercial banks, by type, December 31, 1946-1952
39
Income and charge-offs on............................................................................43, 46-47
Insured or guaranteed real estate.................................................................... 37-38
Provision for losses.............................................................................. 46-47, 101, 113
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FEDERAL DEPOSIT INSURANCE CORPORATION
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Loans:— Continued
By banks {see also Assets and liabilities of operating banks):— Continued
Rate of income on..............................................................43-44, 117, 121, 125, 137
Residential real estate........................................................................................ 37-38
By Federal Deposit Insurance Corporation to insolvent or hazardous
insured banks. See Banks in financial difficulties.
Losses:
Of banks, charged off. See Earnings and expenses of insured commercial
banks; Earnings and expenses of insured mutual savings banks.
Of depositors. See Banks in financial difficulties.
Of the Federal Deposit Insurance Corporation. See Federal Deposit In
surance Corporation.
Of the Reconstruction Finance Corporation on preferred stock investments
in banks.......................................................................................................... 11-12
Provision for, in banks.............................................................................. 46-47, 113-137
Mergers. See Absorptions.
Methods of tabulating banking data:
Assets and liabilities of operating banks..............................................................
Deposit insurance disbursements...........................................................................
Earnings, expenses, profits, and dividends of insured banks...........................
Number, offices, and deposits of operating banks..............................................
101
139
113
82-83
Mutual savings banks. See Assets and liabilities of operating banks; Capital
of banks; Deposits; Earnings and expenses of insured mutual savings
banks; Number of operating banks and branches.
National Bank Conversion Act.................................................................................... 17, 75
National Bank Merger Act....................................................................................... 17, 76-78
National banks. See Class of bank, banking data presented by.
Net earnings of insured commercial banks. See Earnings and expenses of
insured commercial banks.
Net profits of insured commercial banks. See Earnings and expenses of insured
commercial banks.
New banks. See Banking offices, establishment of.
Noninsured banks. See Absorptions; Admission of banks to insurance; Assets
and liabilities of operating banks; Capital of banks; Class of bank,
banking data presented by; Deposits; Number of operating banks
and branches.
Number of operating banks and branches:
All banks:
By insurance status in each State and FDIC district...... ........................ 98-99
By type and insurance status, December 31, 1952......................................
5
In each State and FDIC district, with assets and liabilities................... 106-107
June 30, 1952.......................................................................................................
103
All banks and branches, by class of bank in each State, December 31,1952.. 86-93
All commercial banking offices in center in which located and by type of
office and population of center in which located.................................... 96-97
Branches:
By class of bank and State, December 31, 1952.......................................... 86-93
By location, by population of center in which located, and by State. . . . 94-95
Changes by type of change and class of bank during 1952............................... 84-85
Commercial banks, June 30, 1952, by character of branch system...............94-95
Insured banks:
Admission to insurance........................................................................... 14-15, 84-85
Branches, approval of, by Corporation..........................................................
15
December 31, 1951, June 30 and December 31, 1952.................................
I ll
Termination of insurance...................................................................................15, 84
INDEX
155
Page
Number of operating banks and branches:— Continued
Insured commercial banks:
By FDIC district and State, December 31, 1952......................................... 98-99
Operating December 31, 1952.......................................................................... 4, 111
Operating throughout 1952, by amount of deposits................................. 123, 125
Using reserve method of accounting for bad-debt losses on loans, by
class of bank, 1948-1952.............................................................................. 46-47
Insured mutual savings banks:
By FDIC district and State, December 31, 1952....................................52, 98-99
Operating December 31, 1952.......................................................................... 4, 111
Noninsured banks:
By class of bank, FDIC district and State, December 31, 1952.......... 52, 98-99
Failures during 1952...........................................................................................
139
Unit banks, by class of bank and State, December 31, 1952........................... 86-93
Officers of the Federal Deposit Insurance Corporation.......................................... 17-18
Officers of insured banks. See Employees.
Operating banks. See Number of operating banks and branches.
Payments to depositors in closed insured banks. See Banks in financial
difficulties.
Personnel. See Employees.
Possessions, banks and branches located in: See Areas outside continental
United States, banks and branches located in.
Postal savings deposits in banks....................................................................... 103, 105, 110
Profits. See Earnings and expenses of insured commercial banks.
Protection of depositors. See Banks in financial difficulties.
Public funds. See Deposits (items referring to type of account).
Publications of the Corporation...................................................................................
16
Purchase of bank assets by Corporation. See Assets purchased by the Federal
Deposit Insurance Corporation; Banks in financial difficulties.
Receivership, insured banks placed in. See Banks in financial difficulties.
Reconstruction Finance Corporation:
Loans guaranteed by................................................................................................
Losses on capital of insured banks........................................................................
38
11-12
Recoveries:
By banks on assets charged off. See Earnings and expenses of insured com
mercial banks; Earnings and expenses of insured mutual savings
banks.
By the Corporation on disbursements..............................................................8-10, 144
Reports from banks.........................................................................................................
16
Reserves:
For bad-debt losses on loans, ruling of Commissioner of Internal
Revenue. ..................................................................................................46-47, 113
In bank assets and liabilities. See Assets and liabilities of operating banks.
Of Federal Deposit Insurance Corporation, for losses on assets acquired..
20
Surplus (deposit insurance fund) of the Corporation............ 4, 20-21, 24-25, 27-28
Salaries and wages:
Federal Deposit Insurance Corporation...............................................................
Insured banks. See Earnings and expenses of insured commercial banks;
Earnings and expenses of insured mutual savings banks.
23
156
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Savings and time deposits. See Deposits (items referring to type of account).
Securities {See also Assets and liabilities of operating banks):
Charge-offs on securities held by insured banks................................................. 42, 44
Held by Federal Deposit Insurance Corporation..........................................20, 25, 27
Held by insured banks placed in receivership or absorbed with financial
aid of the Corporation, 1934-1952.............................................................
142
Held by operating banks. See Assets and liabilities of operating banks.
Interest on securities held by banks. See Earnings and expenses of insured
commercial banks; Earnings and expenses of insured mutual savings
banks.
Profits on securities sold by insured banks. See Earnings and expenses of
insured commercial banks; Earnings and expenses of insured mutual
savings banks.
United States Government obligations held by insured commercial banks:
Amounts and percentage distribution by maturities, December 31, 1952
38
Income from, 1945-1952..................................................................................... 43-44
United States Government obligations held by mutual savings banks.. . . 51-52
Size of banks, data for banks classified by amount of deposits:
Banks receiving financial aid from the Corporation, 1934-1952...................
140
Deposits. See Deposits.
Disbursements for protection of depositors, 1934-1952.....................................
140
Earnings data of insured commercial banks, 1952....................................... 122-123
Earnings ratios of insured commercial banks, 1952......................................... 124-125
Employees, number and average salary, insured commercial banks, 1952.. 44-45
Insured deposits. See Deposits.
Net profits retained in capital accounts, insured commercial banks, 1952..
48
Number of banks. See Number of operating banks and branches.
Rate of income on loans, insured commercial banks, 1952........................... 41-43
Sources of data...............................................................................................16, 101, 113, 139
State and local government obligations. See Assets and liabilities of operating
banks.
State bank supervisory authorities:
Data obtained from.................................................................................................. 16,101
State legislation regarding......................................................................................
79
State, banking data classified by:
Assets and liabilities of operating banks, December 31, 1952.......................106-107
Deposits:
All banks, December 31, 1952........................................................................106-107
Commercial banks, insured and noninsured.................................................. 98-99
Mutual savings banks, December 31, 1952...................................................
50
Mutual savings banks, insured and noninsured, December 31, 1952. .52, 98-99
Disbursements by the Corporation, cumulative, 1934-1952.......................... 140-141
Earnings and expenses of insured commercial banks, 1952........................... 126-135
Net earnings and net profits of insured commercial banks, rates of, 1952.. 126-135
Net profits after taxes as a proportion of total capital accounts, 1952. . . .
48
Number and deposits of mutual savings banks, December 31, 1952.............
50
Number of operating banks or offices, December 31, 1952:
All banking offices, by class of bank and type of office........................... 86-93
Commercial banks, insured and noninsured..................................... 86-93, 98-99
Mutual savings banks, insured and noninsured.......................... 52, 86-93, 98-99
Proportion of banks insured, December 31, 1952..................................... 5, 52, 86-93
Proportion of deposits in all banks held by insured banks, December 31,1952
6
Residential real estate loans, insured or guaranteed, December 31, 1952.. 37-38
State banking legislation enacted in 1952............................ .................................17, 79-80
State banks members of the Federal Reserve System. See Class of bank, banking
data presented by.
State bank not members of the Federal Reserve System. See Class of bank,
banking data presented by.
State insurance systems for bank obligations, history of, 1829-1930. See History
of bank obligation insurance, 1829-1930.
INDEX
157
Pago
Stockholders of banks, net profits available for. See Earnings and expenses of
insured commercial banks.
Supervision. See Bank supervision.
Suspensions. See Banks and branches ceasing operations; Banks in financial
difficulties.
Taxes paid by insured banks. See Earnings and expenses of insured commercial
banks; Earnings and expenses of insured mutual savings banks.
Terminations of insurance for unsafe and unsound practices................................
13-14
Time and savings deposits. See Deposits (items referring to type of account).
Trust companies:
Classification of................................................................................................... ..
82-83
Noninsured, not engaged in deposit banking...................... 5, 84-93, 98-99, 102-105
State legislation.........................................................................................................
80
Trust powers, applications for......................................................................................
16
Unit banks. See Number of operating banks and branches.
United States Government guaranty of national bank notes. See History of
bank obligation insurance, 1829-1930.
United States Government obligations. See Assets and liabilities of operating
banks; Securities.
United States Treasury Department, Commissioner of Internal Revenue,
ruling on reserves for bad-debt losses on loans............................. 46, 101, 113
Unsafe and unsound banking practices......................................................................
13-14
Valuation reserves.................................................................................46, 101, 104, 109, 113
Violations of law or regulations, banks charged with. See Unsafe and unsound
banking practices.
@FedFRASER