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ANNUAL REPORT
OF THE

Federal D eposit I nsurance C orporation




FOR THE YEAR ENDED
DECEMBER 31, 1963




LETTER OF TRANSM ITTAL

F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n

Washington, D. C., June 4, 1964

SIRS: Pursuant to the provisions of Section 17(a) of the Federal
Deposit Insurance Act, the Federal Deposit Insurance Corporation is
pleased to submit its annual report.

Respectfully,

Joseph

T

he

P r e s id e n t P ro T

em pore of t h e

T

he

Speak er

H

of




the

ouse of

R

W.

Senate

e p r e s e n t a t iv e s

B arr,

Chairman

FEDERAL DEPOSIT IN S U R A N C E




C O R P O R A TIO N

FEDERAL DEPOSIT INSURANCE CORPORATION
550 17th S treet , N .W ., W a s h i n g t o n , D.C. 20429

BOARD OF D IRECTO RS
Chairman

.................................

J o se ph W . B arr

Comptroller of the Currency

J a m e s J. S a x o n

D ir ec to r ......................................

K . A. R a n d a ll

OFFICIALS— June 4, 1964
Assistant to the Chairman............................................................ Timothy J. Reardon, Jr.
Special Assistant to the Chairman............................................John F. Lord
Assistant to the Director.................................................................John F. Lee
Chief, Division of Examination..................................................Edward H . DeHority
General Counsel................................................................................. William M . Moroney
Controller ............................................................................................Edward F. Phelps, Jr.
Chief, Division of Liquidation.................................................... A. E. Anderson
Chief, Division of Research and Statistics............................... Edison H . Cramer
Chief, Audit Division.....................................................................James J. Bogart
Secretary ..............................................................................................Miss E. F. Downey
Assistant to the Board.....................................................................Frank E. Tracy
Assistant to the Board.....................................................................Raoul D . Edwards




V

DISTRICT OFFICES
D is t .

S u pe r v isin g

No.

E x a m in e r

A ddress

S tates i n D is tr ic t

1. Claude C. Phillippe

Room 1365, No. 10 P.O.
Square, Boston, Mass.
02109

Maine, New Hampshire,
Vermont, Massachusetts,
Rhode Island,
Connecticut

2. Philip C. Lods

74 Trinity Place,
New York, N . Y .
10006

New York, New Jersey,
Delaware, Puerto Rico,
Virgin Islands

3. Lewis S. Rough, Jr.

Suite 500,
50 West Gay Street,
Columbus, Ohio
43215

Ohio, Pennsylvania

4. Lundie W . Barlow

403 East Grace St.,
Richmond, Ya.
23219

District of Columbia,
Maryland, Virginia,
West Virginia, North
Carolina, South Carolina

5. Roger C. Eaglet on

1000 Bank of Georgia
Building, Atlanta, Ga.
30303

Georgia, Florida, Alabama,
Mississippi

6. G. E. Mounts

1059 Arcade Building,
St. Louis, M o. 63101

Kentucky, Tennessee,
Missouri, Arkansas

7. William T . Hammill

715 Tenney Building,
Madison, Wis. 53703

Indiana, Michigan,
Wisconsin

8. D . E. Wilkins

164 W . Jackson Blvd.,
Chicago, 111. 60604

Illinois, Iowa

9. Roger B. West
Acting Supervising
Examiner

950 Federal Reserve
Bank Building,
Minneapolis, Minn.
55440

Minnesota, North Dakota,
South Dakota, Montana

10. Stanley Pugh

1207 Federal Reserve
Bank Building,
Kansas City, M o. 64106

Nebraska, Kansas,
Oklahoma, Colorado,
Wyoming

11. Lloyd Thomas

Federal Reserve Bank
Building, Station K ,
Dallas, Texas 75222

Louisiana, Texas,
New Mexico, Arizona

12. Walter W . Smith

Suite 1700, 582 Market
Street, San Francisco,
Calif. 94104

Idaho, Utah, Nevada,
Washington, Oregon,
California, Alaska,
Hawaii, Guam




FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICTS
1/4 U.S. Seal

V ll







CONTENTS
Page
Summary ........

................................................................................................

xv

Part One
Operations o f the Corporation
Deposit insurance participation and coverage...............................................................
Insurance operations to protect depositors of failing banks......................................
Supervisory activities ...........................................................................................................
Legal developments .................................................................................................................
Administration of the Corporation......................................................................................
Finances of the Corporation..................................................................................................

3
3
6
11
12
14

Part Two
Commercial Banks Closed Because o f Financial Difficulties, 1 9 3 4 -1 9 6 2
Commercial banks closed because of financial difficulties, 1934-1962 ...................

27

Part Three
Legislation and Regulations
Federal legislation ...................................................................................................................
Rules and regulations of the Corporation.........................................................................
State banking legislation........................................................................................................

45
45
47

Part Four
Banking Developments
Supervisory status of banks..................................................................................................
Changes in number of banking offices, and in bank assets and liabilities............
Growth in bank deposits from June 30, 1961 to June 29, 1963...............................
Income of insured banks......................................................................................................

55
58
59
74

Part Five
Statistics o f Banks and Deposit Insurance
Bank absorptions approved by the Corporation.............................................................
Number, offices, and deposits of banks...........................................................................
Assets and liabilities of banks..............................................................................................
Income of insured banks......................................................................................................
Deposit insurance disbursements..........................................................................................




80
80
128
150
178

LIST OF CHARTS
Page
Organization chart of the Federal Deposit Insurance Corporation.......................
Federal Deposit Insurance Corporation districts (m a p )..............................................

iv
vii

LIST OF TABLES
Part One
Operations of the Corporation
I n s u r a n c e operations to protect depositors of f a il in g b a n k s :

1.
2.

Protection of depositors of insured banks requiring disbursements by the
Federal Deposit Insurance Corporation, 1934-1963........................................
Analysis of disbursements, recoveries and losses in insurance transactions,
January 1, 1934-December 31, 1963.......................................................................

4
5

S u pervisory activities :

3.
4.

5.
6.

Applications acted upon by the Board of Directors of the Federal
Deposit Insurance Corporation during 1963....................................................
Mergers, consolidations, acquisitions of assets and assumptions of liabil­
ities approved under Section 18(c) of the Federal Deposit Insurance
Act during 1963...........................................................................................................
Bank examination activities of the Federal Deposit Insurance Corpora­
tion in 1962 and 1963................................................................................................
Actions to terminate insured status of banks charged with unsafe or
unsound banking practices or violations of law or regulations, 19361963 ..................................................................................................................................

7

8
9

10

A d m in is t r a t io n of t h e corporation :

7.

Number of officers and employees of the Federal Deposit Insurance
Corporation, December 31, 1963...........................................................................

13

F in a n c e s of t h e corporation :

8.
9.
10.
11.
12.

13.
14.

Statement of financial condition, Federal Deposit Insurance Corpora­
tion, December 31, 1963............................................................................................
Statement of income and deposit insurance fund, Federal Deposit Insur­
ance Corporation, year ended December 31, 1963..........................................
Determination and distribution of net assessment income, Federal De­
posit Insurance Corporation, year ended December 31, 1963.....................
Sources and application of funds of the Federal Deposit Insurance Cor­
poration for the calendar year 1963.....................................................................
Income and expenses, Federal Deposit Insurance Corporation, by years,
from beginning of operations, September 11, 1933, to December 31,
1963, adjusted to December 31, 1963...................................................................
Insured deposits and the deposit insurance fund, 1934-1963...........................
Report on examination of financial statements of Federal Deposit Insur­
ance Corporation, year ended June 30, 1963....................................................




x

15
16
17
17

18
19
20

Part Two
Commercial Banks Closed Because of Financial Difficulties, 1934-1962
Page
15.
16.

17.

18.
19.
20.
21.

22.

23.

Number and deposits of commercial banks closed because of financial
difficulties, 1934-1962, by years...............................................................................
Losses to depositors and to the Federal Deposit Insurance Corporation
in commercial banks closed because of financial difficulties, 1934-1962,
by years .........................................................................................................................
Relation to operating banks of the number, deposits, and losses on
deposits of commercial banks closed because of financial difficulties,
1934-1962 .......................................................................................................................
Number and deposits of operating commercial banks, 1934-1962, by in­
surance status .............................................................................................................
Results of liquidation of noninsured commercial banks closed because of
financial difficulties, 1934-1962 by years.............................................................
Results of liquidation of noninsured commercial banks closed because of
financial difficulties, 1934-1962, by States...........................................................
Distribution of noninsured commercial banks closed because of financial
difficulties, 1934-1962, by percentage of liabilities paid, and by per­
centage dividends on common claims...............................................................
Location, name, amount of deposits, liabilities paid, and loss on com­
mon claims, noninsured commercial banks closed because of financial
difficulties, 1934-1962 ................................................................................................
Insured banks closed because of financial difficulties without disburse­
ments by the Federal Deposit Insurance Corporation, 1934-1962..........

28

29

30
31
32
33

34

36
42

Part Four
Banking Developments
S upervisory s tatu s of b a n k s :

24.

Classification of banks according to supervisory status and Federal
deposit insurance participation, December 31, 1963....................................

55

25.

Assets of banks classified according to supervisory status and Federal
deposit insurance participation, December 20, 1963....................................

56

26.

Deposits of banks classified according to supervisory status and Federal
deposit insurance participation, December 20, 1963....................................

57

27.

Ratios of capital accounts to assets of banks of deposit classified accord­
ing to supervisory status and Federal deposit insurance participation,
December 20, 1963 ..................................................................................................

58

G r o w t h i n b a n k deposits fro m j u n e 30, 1961, to j u n e 29, 1963:

28.

Analysis of changes in number of banks and branches in the United
States (States and other areas), during the years 1961, 1962 and 1963

60

29.

Amounts and percentages of major categories of assets and liabilities of
all banks in the United States (States and other areas), at year-end
call dates, 1961-1963 ..................................................................................................

61

30.

Percentage changes in major categories of assets and liabilities of all
banks in the United States (States and other areas), year-end call
dates 1961-1962, 1962-1963, and 1961-1963........................................................

62

31.

Number of banks in the United States (States and other areas), op­
erating throughout the period from June 30, 1961, to June 29, 1963,
distributed by percentage changes in total deposits. .
...............

64




xi

Page
32.

Number of banks in the United States (States and other areas), dis­
tributed by percentage change in total deposits from June 30, 1961
to June 30, 1962, and from June 30, 1962, to June 29, 1963
Banks grouped according to insurance status and type of bank..........

65

33.

Number of commercial banks in the United States (States and other
areas), distributed by percentage change in total deposits from June
30, 1961 to June 30, 1962, and from June 30, 1962, to June 29, 1963
Banks grouped according to amount of deposits...................................

66

34.

Number of mutual savings banks in the United States (States and other
areas), distributed by percentage change in total deposits from June 30,
1961, to June 30, 1962, and from June 30, 1962, to June 29, 1963
Banks grouped according to amount of deposits........................................

67

35.

Number of banks in the United States (States and other areas), dis­
tributed by percentage change in total deposits from June 30, 1961,
to June 30, 1962, and from June 30, 1962, to June 29, 1963
Banks grouped according to Federal Deposit Insurance Corporation
Districts ...................................................................................................................

68

36.

Number of banks in the United States (States and other areas), distrib­
uted by percentage change in total deposits from June 30, 1961 to
June 30, 1962, and from June 30, 1962, to June 29, 1963
Banks grouped according to population of center in which main of­
fice is located ........................................................................................................

69

37.

Number of commercial banks in the United States (States and other
areas), distributed by percentage change in total deposits from June
30, 1961, to June 30, 1962, and from June 30, 1962, to June 29, 1963
Banks grouped according to ratio of demand deposits to total
deposits ...................................................................................................................

70

38.

Number of commercial banks in the United States (States and other
areas), distributed by percentage changes in total deposits and in loans
from June 30, 1961, to June 30, 1962, and from June 30, 1962, to
June 29, 1963...............................................................................................................

71

39.

Number of mutual savings banks in the United States (States and other
areas), distributed by percentage changes in total deposits and in loans
from June 30, 1961, to June 30, 1962, and from June 30, 1962, to June
29, 1963 .......................................................................................................................

72

I n c o m e of in s u r e d b a n k s :

40.

Sources and disposition of total income, insured commercial banks in the
United States (States and other areas), 1961-1963........................................

74

41.

Percentage distribution of sources and disposition of total income, in­
sured commercial banks in the United States (States and other areas),
1961-1963 .....................................................................................................................

75

42.

Selected operating ratios of insured commercial banks in the United
States (States and other areas), 1961-1963....................................................

75

43.

Distribution of insured commercial banks operating throughout 1963 by
deposit size of bank, and percentages of selected banking totals in
each size group, 1963..............................................................................................

76

44.

Sources and disposition of total income, insured mutual savings banks
in the United States, 1961-1963...........................................................................

76

Percentage distribution of sources and disposition of total income, in­
sured mutual savings banks in the United States, 1961-1963...................

77

45.




xii

Part Five
Statistics of Banks and Deposit Insurance
Page
B a n k absorptions approved b y t h e c o rpo ra tio n :

101.

Description of each merger, consolidation, acquisition of assets, or
assumption of liabilities approved by the Corporation during 1 9 63 ...

82

N u m b e r , offices , a n d deposits of b a n k s :

Explanatory note ...................................................................................................................

80

102.

Changes in number and classification of banks and branches in the
United States (States and other areas), during 1963...............................

116

103.

Number of banking offices in the United States (States and other areas),
December 31, 1963
Grouped according to insurance status and class of bank, and by
State or area and type of o ffic e .................................................................

118

104.

Number and deposits of all banks in the United States (States and other
areas), December 20, 1963
Banks grouped according to insurance status and by district and
State ...................................................................................................................

126

A ssets a n d lia b il it ie s of b a n k s :

Explanatory note

.................................................................................................................

128

105.

Assets and liabilities of all banks in the United States (States and other
areas), June 29, 1963
Banks grouped according to insurance status and type of bank. . . .

130

106.

Assets and liabilities of all banks in the United States (States and other
areas), December 20, 1963
Banks grouped according to insurance status and type of bank. . . .

132

107.

Assets and liabilities of all banks in the United States (States and other
areas), December 20, 1963
Banks grouped by district and State..........................................................

134

108.

Assets and liabilities of all insured banks in the United States (States
and other areas), call dates June 30, 1961 through December 20, 1963..

136

109.

Assets and liabilities of insured commercial and insured mutual savings
banks in the United States (States and other areas), call dates Sep­
tember 28, 1962 through December 20, 1963................................................

140

110.

Average assets and liabilities and assets and liabilities per $100 of total
assets of insured commercial banks in the United States (States and
other areas), 1963
B y class of bank ................................................................................................

144

111.

Assets and liabilities and assets and liabilities per $100 of total assets of
insured commercial banks operating throughout 1963 in the United
States (States and other areas), December 20, 1963
Banks grouped according to amount of deposits....................................

145

112.

Average assets and liabilities of insured commercial banks in the United
States (States and other areas), by State, 1963........................................

146

113.

Distribution of insured commercial banks in the United States (States
and other areas), December 20, 1963
Banks grouped according to amount of deposits and by ratios of
selected items to assets .............................................................................

148

I n c o m e of in su r e d b a n k s :

Explanatory note ...................................................................................................................




xiii

150

Page
114.

Income of insured commercial banks in the United States (States and
other areas), 1955-1963 ........................................................................................

152

115.

Ratios of income of insured commercial banks in the United States
(States and other areas), 1955-1963.................................................................

154

116.

Income of insured commercial banks in the United States (States and
other areas), 1963
B y class of bank ................................................................................................

156

117.

Ratios of income of insured commercial banks in the United States
(States and other areas), 1963
B y class of b a n k ..................................................................................................

158

118.

Income of insured commercial banks operating throughout 1963 in the
United States (States and other areas)
Banks grouped according to amount of deposits....................................

160

119.

Ratios of income of insured commercial banks operating throughout
1963 in the United States (States and other areas)
Banks grouped according to amount of deposits....................................

162

120.

Income of insured commercial banks in the United States (States and
other areas), by State, 1963.................................................................................

164

121.

Income of insured mutual savings banks, 1955-1963....................................

174

122.

Ratios of income of insured mutual savings banks, 1955-1963...................

176

D eposit in s u r a n c e d is b u r s e m e n t s :

Explanatory note

.................................................................................................................

178

123.

Depositors, deposits, and disbursements in insured banks requiring dis­
bursements by the Federal Deposit Insurance Corporation, 1934-1963
Banks grouped by class of bank, year of deposit payoff or deposit
assumption, amount of deposits, and State..........................................

180

124.

Insured banks requiring disbursements by the Federal Deposit Insur­
ance Corporation during 1963...........................................................................

182

125.

Recoveries and losses by the Federal Deposit Insurance Corporation on
principal disbursements for protection of depositors, 1934-1963..........

183




xiv

SUM M ARY
The 13,621 banks which were insured by the Federal Deposit Insur­
ance Corporation on December 31, 1963, constituted about 97 percent of
the 14,092 operating banks. (P. 3.)
Total deposits in insured banks on December 20, 1963, amounting to
$313,304 million, were nearly 98 percent of deposits in all banks. The
deposit insurance fund, which on December 31, 1963, amounted to
$2,667.9 million, was equal to about 0.85 percent of the deposits in
insured banks. (P. 19.)
In 1963, the Corporation made disbursements of about $19 million to
protect depositors in the two insured banks failing during the year. This
brings to 447 the number of cases which, since the beginning of Federal
deposit insurance on January 1, 1934, required disbursements by the
Corporation to protect depositors in failing banks. (Pp. 3, 5.)
Since the beginning of Federal deposit insurance, 125 noninsured com­
mercial banks have closed because of financial difficulties. This repre­
sents an average of about 5 failures per year for each 1,000 noninsured
banks in operation, while for insured banks the corresponding rate was
1 per year for each 1,000 banks. (Pp. 27, 31.)
A total of 28,369 banking offices were in operation in the United States
on December 31, 1963. There were 14,092 banks operating at the close
of the year, 141 more than a year earlier, while branches increased by
1,199 to 14,277. This was the first year since 1947 that the number of
banks increased. (Pp. 58, 60.)
Total assets of all banks in the United States amounted to $363,678
million on December 20,1963, up 5.6 percent from the total on December
28, 1962. Slightly less than one-half of the assets were held by national
banks, while State banks which were members of the Federal Reserve
System held approximately one-fourth the assets, and insured State
banks not members of the Federal Reserve System held about an equal
share. Noninsured banks held about two and one-half percent of the
assets of all banks. (Pp. 56, 59.)
During 1963, cash and funds due from banks and obligations of the
United States Government continued to increase less rapidly than total
assets of all banks. Other securities and loans became an increasing pro­
portion of the total. Demand deposits of individuals, partnerships, and
corporations increased less rapidly than total deposits, but time and
savings deposits of these depositors grew more rapidly than total depos­
its. At the close of 1963, capital accounts equaled 8.2 percent of the
assets of all banks (Pp. 59, 61.)
Total income of insured commercial banks was $13,978 million in 1963,
compared with $12,686 million in 1962. Dividends to stockholders
amounted to $993 million, and additions to capital accounts from income
totaled $1,159 million. (P. 74.)
Part 334 of the Corporation’s rules and regulations was adopted
effective April 3, 1963. This implements the provisions of the Bank
Service Act (76 Stat. 1132), approved October 23, 1962, and prescribes
rules with respect to arrangements for the performance of bank services
for insured State nonmember banks. Section 329.6 of the rules and reg­
ulations was amended, effective July 17, 1963, raising to 4 percent the
maximum permissible rate which insured banks not members of the
Federal Reserve System may pay on time deposits having a maturity
date of less than 12 months and not less than 90 days from the date of
deposit or payable upon written notice of less than 12 months and not
less than 90 days. (Pp. 11, 45.)



XV




PART ONE
OPERATIONS OF THE CORPORATION







D

e p o s it

I n s u r a n c e P a r t ic ip a t io n

and

C overage

Participation in Federal deposit insurance. Federal deposit in­
surance became effective January 1, 1934. Through most of the period
since that date more than nine-tenths of the banks in the United States
have been insured by the Corporation. The 13,621 banks which were
insured on December 31, 1963, constituted about 97 percent of the
14,092 operating banks.
Incorporated banks and trust companies which are engaged in the
business of receiving deposits may participate in Federal deposit insur­
ance. State banks which are not members of the Federal Reserve
System may become insured banks if, after application to and exami­
nation by the Corporation, they are approved by the Board of Direc­
tors. National banks become insured without application to the Corpo­
ration when they are authorized by the Comptroller of the Currency
to commence business; State banks becoming members of the Federal
Reserve System also become insured banks without action on the part
of the Corporation. During 1963, 152 State nonmember banks, 163
national banks, and 5 State banks members of the Federal Reserve
System became insured.
Deposit insurance coverage. Under the Banking Act of 1933, a
temporary plan for deposit insurance provided for insurance up to
$2;500 for each depositor. This was raised to $5,000 on July 1, 1934,
and remained at this amount until increased to $10,000 in 1950. Further
proposed increases in deposit coverage have thus far not been enacted.

I n s u r a n c e O p e r a t io n s

to

P rotect D

e p o s it o r s

of

F a il in g B

anks

Banks failing in 1963. Disbursements to protect depositors were
required in the cases of two insured banks which failed during 1963;
namely, The First State Bank of Westmont, Illinois, Westmont, Illinois;
and Chatham Bank of Chicago, Chicago, Illinois. The Corporation was
appointed receiver in each of these cases.
There were approximately 36,275 depositors, with total deposits of
about $23,439 thousand in these banks. The Corporation had, by D e­
cember 31, 1963, paid approximately $18,967 thousand to about 30,325
depositors, and expected to pay or otherwise satisfy about 5,040 addi­
tional claims amounting to about $281 thousand as soon as the claims
are proved. In addition, it is estimated that about 910 claims, amount­
ing to approximately $2,404 thousand, will be fully satisfied by the



3

4

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

receiver. The owners of deposit accounts having balances in excess of
the $10,000 insurable limit (249 accounts with excess deposits of about
$1,787 thousand) will share pro rata with the Corporation and other
creditors in the proceeds from the liquidation of the banks’ assets.
It is estimated that, in addition to expenses incurred in paying de­
positors’ claims, the Corporation will fail to recover approximately
$1,460 thousand of the amount paid to the depositors of these banks.

T a b le 1 .

P rotection of D epositors of I n su r e d B a n k s R eq u ir in g

D is b u r s e m e n t s b y t h e F ederal D eposit I n s u r a n c e C orporation , 1934-1963

Item

Deposit payoff
cases
(265 banks)

All cases
(447 banks)

Deposit
assumption cases
(182 banks)

Number, or
amount
Number of depositors or ac­
counts— total1....................
Full

recovery received or
available...........................

From FDIC 2.........................
From offset 4..........................
From security or preference 5

From asset liquidation 8.......
Full recovery not received as
of December 31, 1963. . .

Percent

Number or
amount

Percent

Number or
amount

Percent

1,496,511

100.0 %

461,778

100.0%

1.034.733

100.0%

1,486,280

99.3

451,547

97.8

1.034.733

100.0

1,441,983
38,620
2,847
2,830

96.3
2.6

88.2
8.4
0.6
0.6

1.034.733

100.0

0.2

407,250*
38,620
2,847
2,830

100.0 %

0.2

10,231

0.7

10,231

2.2

Terminated cases..................
Active cases 7.........................

2,834
7,397

0.2

2,834
7,397

0.6
1.6

Amount of deposits (in thou­
sands)— total ...................

$634,542

100.0%

$168,015

100.0%

$466,527

630,592

99.4

164,065

97.6

466.527

100.0

F D IC *.............................
offset 9..............................
security or preference 10..
asset liquidation 11..........

596,554
10,714
10,769
12,555

94.0
1.7
1.7
2.0

130,027s
10,714
10,769
12,555

77.4
6.4
6.4
7.4

466.527

100.0

Not paid as of December 31,
1963....................................

3,950

0.6

3,950

2.4

Terminated cases..................
Active cases 12........................

1,794
2,156

0.3
0.3

Paid or made available........
By
By
By
By

0.5

1,794
2,156

1.1

1.3

1 Number of depositors in deposit payoff cases; number of accounts in deposit assumption cases.
*
Through direct payment to depositors in deposit payoff cases; through assumption of deposits
by other insured banks, facilitated by FDIC disbursements of $198,074 thousand, in deposit assumption
» Includes 56,297 depositors in terminated cases who failed to claim their insured deposits (see
note 7).
4 Includes only depositors with claims offset in full; most of these would have been fully protected
by insurance in the absence of offsets.
s Excludes depositors paid in part by FDIC whose deposit balances were less than the insurance
maximum.
6 The insured portions of these depositor claims were paid by the Corporation.
7 Full recovery available to about 7,000 of these depositors.
8 Includes $185 thousand unclaimed insured deposits in terminated cases (see note 3).
9 Includes all amounts paid by offset.
1 Includes all secured and preferred claims paid from asset liquidation; excludes secured and pre­
0
ferred claims paid by Corporation.
1 Includes unclaimed deposits paid to authorized public custodians.
1
1 It is estimated that $1.5 million of this amount is or will be available to depositors.
2




5

IN SU RAN CE OPERATIONS TO PROTECT DEPOSITORS

Banks failing 1934-1963, During the 30 years of Federal deposit
insurance the Corporation has made disbursements to protect depositors
in 447 failing banks. Table 1 shows that of the nearly 1.5 million de­
positors in these banks, all but about 3,250 had the full amount of
their deposits made available to them. In cases where the deposit
liabilities are assumed by another insured bank the full amount of
each deposit is immediately available to depositors. In deposit payoff
cases the insured deposits are made available by the Corporation as
soon as possible after the bank closes, and the extent to which deposits
in excess of the insurance maximum become available to depositors
depends upon the results of asset liquidation. It is estimated that, out
of total deposits of about $635 million, less than $2.5 million will not
have been made available to depositors when all presently active cases
have been terminated.
Corporation disbursements and losses. Since deposit insurance
became effective on January 1, 1934, the Corporation has disbursed
$379.1 million in insurance transactions. Disbursements to protect
T a b le 2 .

A n a ly s is of D isb u rse m e n ts, Recoveries and L osses i n

In su ra n c e

T ra n sa c tio n s, January 1, 1934-December 31, 1963
(In thousands)

Type of disbursement

Disburse­
ments

Recoveries 1

Losses

All disbursements— total............................... .......................

$379,145

$347,095

$ 32,050

Principal disbursements in deposit assumption and
payoff cases— total................................... .......................

$328,227

$297,374

$ 30,853

Loans and assets purchased (182 deposit assumption
cases):
To December 31, 1963................................ .......................
Estimated additional..........................................................

198,074\

184,586 \
426 J

1QAO
AZ
iOtU O

129,842 \
311/

98,218\
14,144/

17,791

........... J

Deposits paid (265 deposit payoff cases):
To December 31, 1963.......................................................
Estimated additional..........................................................
Advances and expenses in deposit assumption and
payoff cases—-total..........................................................

$ 49,015

$ 47,293

Expenses in liquidating assets in 182 deposit assumption
cases:
Advances to protect assets................................................
Liquidation expenses..........................................................
Insurance expenses.............................................................
Field payoff and other insurance expenses in 265 deposit
payoff cases.........................................................................

32,869
14,424
214

32,869
14,424
(2
)

Other disbursements— total................................................
Assets purchased to facilitate termination of liquidations:
To December 31, 1963.......................................................
Estimated additional..........................................................
Unallocated insurance expenses..................... ......................

1,508
$

$ 2,428

1.771 \

........... /
132

2,380\
48/
(J
)

1,722

214

(2
)

1,903

$

1,508
$

(525)*
/£ > \
KT 4
(oo7;4
132

1 Excludes recoveries in excess of the amounts due the Corporation, which were returned to stock­
holders and holders of capital obligations of failed banks. Does not include $9.1 million of interest and
allowable return received by the Corporation on its advances.
2 Not recoverable.
* Net recovery in excess of disbursements,
4 Net profit and net income.




6

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

depositors in 447 insured banks have amounted to $377.2 million, while
disbursements of $1.8 million were made to purchase assets from re­
ceivers and liquidators of closed insured banks in order to expedite the
termination of the receivership and deposit assumption cases, and other
insurance expenses have amounted to $0.1 million. Total recoveries
and estimated recoveries on such disbursements amount to $347.1 mil­
lion, resulting in an estimated loss of $32 million. This represents slightly
more than 1 percent of the Corporation’s total income. A further
analysis of these insurance transactions is furnished in Table 2.

S u p e r v is o r y A

c t iv it ie s

For many years the great majority of banks have been subject to
governmental supervision designed to protect their depositors and other
creditors, and the community, against loss resulting from destruction
or lack of availability of portions of the circulating medium caused by
the suspension of banks. The supervisory powers vested in the Corpo­
ration are exercised through the approval or denial of various applica­
tions which banks are required to make, through the examination
process, and through the adoption and enforcement of rules and
regulations.
Applications to become insured or to operate a branch. As is
shown in Table 3, the Board of Directors in 1963 acted upon the
applications of 158 banks for admission to insurance. This was an
increase of 10 new banks and 21 operating banks over the number acted
upon in 1962. Applications acted upon in 1963 for new branch offices
increased to 310, compared with 265 in the previous year.
The Federal Deposit Insurance Act provides that before approving
an application by a bank to become insured, or to establish and operate
a branch, or to change the location of its main office or a branch, the
Board of Directors must consider the following factors: The financial
history and condition of the bank, the adequacy of its capital structure,
its future earnings prospects, the general character of its management,
the convenience and needs of the community to be served by the bank,
and whether or not its corporate powers are consistent with the pur­
poses of the Federal Deposit Insurance Act.
Merger transactions. In passing upon an application by a bank to
engage in a merger, consolidation, acquisition of assets, or assumption
of liabilities transaction, the Corporation is required to consider the
effect of the transaction on competition, including any tendency toward
monopoly, in addition to the six banking factors considered in connec­
tion with applications for insurance.




7

SUPERVISORY ACTIVITIES

Table 3.

A pplications A cted U pon by t h e B oard of D irectors of t h e F ederal
D eposit I n su ran ce C orporation D uring 1963

Type of application

Total
acted
upon

Approved

Dis­
approved

All applications 1............................................................................

898

884

14

Admission to insurance—total..............................................
New banks.................................................................................
Operating banks........................................................................

158
119
39

155
117
38

3
2
1

Continuation of insurance of banks withdrawing from
Federal Reserve System...................................................

20

20

Change in type of business-total.......................................
To engage in trust business or to provide additional fiduciary
services 2................................................................................
To change branch from limited to full service branch..........

53

52

1

52
1

51
1

1

Assumption of deposit liabilities— total.............................
Of another insured bank..........................................................
Of a noninsured bank or trust company................................
Of a branch of a noninsured foreign bank.............................

35
28
3
4

33
26
3
4

2
2

Operation of branches— total................................................
New branch offices....................................................................
Banks to become branches as result of absorption...............
Continue branches of absorbed predecessor, or bank or
branch becoming insured.....................................................

372
310
22

367
308
21

5
2
1

40

38

2

Change of location— total.......................................................
Main offices...............................................................................
Branches....................................................................................

236
164
72

235
163
72

1
1

Retirement or adjustment of capital..................................

19

19

Service of person convicted of dishonesty or breach of
trust......................................................................................

5

3

2

1 Excludes applications supplementary to a primary application; for example, for an extension of
time with respect to an insurance commitment for a new bank. Also excludes a few applications acted
upon in prior years on which additional action was taken during 1963.
2 Includes permission to one new bank to do a trust business.

Consent of the Corporation is required for any absorption transac­
tion involving any insured bank and a noninsured bank or institution,
or in which the resulting bank is an insured bank not a member of the
Federal Reserve System (other than a bank located in the District of
Columbia). Data regarding the 31 cases approved by the Corporation
in 1963, with a statement giving the basis for the approval and a sum­
mary by the Attorney General of his report concerning the competitive
factors involved, are given in Table 101.
Absorption cases in which the resulting bank is a national bank (or
a bank located in the District of Columbia) require approval by the
Comptroller of the Currency. If the absorbing bank is a State bank
member of the Federal Reserve System (not located in the District of
Columbia) the Board of Governors approves or disapproves the appli­
cation. These Federal bank supervisory agencies are required to con­
sider the same factors in making their decisions as those enumerated
above.




8

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

There were 281 banks involved in the applications for mergers, con­
solidations, acquisitions of assets and assumptions of liabilities ap­
proved by the three Federal banking agencies under Section 18(c) of
the Federal Deposit Insurance Act during 1963. This is about fourfifths the number involved in 1962. The resources of the absorbed
banks in 1963 were $3.5 billion, compared to $2.2 billion in the pre­
ceding year. Further information regarding the applications approved
during 1963 is given in Table 4.

T a b le 4 .
of

M ergers, C onsolidations , A cquisitions of A ssets and A ss u m p t io n s

L iabilities A pproved U nder S ection 1 8( c) of t h e F ederal D eposit I nsurance
A ct D uring 1963

Offices operated 2
Banks

Number
of
banks 1

Resources
(in
thousands)2

281
130
151
54
31
62
4

$44,379,021
40,860,287
3,518,734
1,607,796
316,590
1,569,300
25,048

2,558
2,157
401
197
48
149
7

2.542
2.542

162
73
89
38
16
35

$22,471,484
20,448,891
2,022,593
1,441,572
187,611
393,410

1,413
1,131
282
173
25
84

1.406
1.406

67
32
35
7
11
13
4

$18,804,682
18,303,201
501,481
75,345
96,624
304,464
25,048

807
743
64
7
15
35
7

803
803

52
25
27
9
4
14

$ 3,102,855
2,108,195
994,660
90,879
32,355
871,426

338
283
55
17
8
30

333
333

Prior to
trans­
action

After
trans­
action

ALL CASES

Banks involved..................................................................
Absorbing banks..............................................................
Absorbed banks...............................................................
National........................................................................
State banks members FR S.........................................
Not members FR S.......................................................
Noninsured...................................................................
CASES W IT H RESULTING BAN K
A NATIONAL BAN K

Banks involved..................................................................
Absorbing banks..............................................................
Absorbed banks...............................................................
National........................................................................
State banks members F R S.........................................
Not members F R S......................................................
CASES W ITH RESULTING B AN K A
STATE B AN K MEMBER OP THE
FEDERAL RESERVE SYSTEM *

Banks involved..................................................................
Absorbing banks..............................................................
Absorbed banks................................................................
National........................................................................
State banks members F R S.........................................
Not members FR S.......................................................
N oninsured...................................................................
CASES W ITH RESULTING BAN K NOT
A MEMBER OF THE
FEDERAL RESERVE SYSTEM

Banks involved..................................................................
Absorbing banks..............................................................
Absorbed banks................................................................
National........................................................................
State banks members F R S.........................................
Not members F R S......................................................

1The number of resulting banks is smaller than the number of transactions, which totaled 149,
because a few banks engaged in more than one transaction.
2 In cases where an absorbing bank engaged in more than one transaction, the resources included
are those of the bank before the latest transaction, and the number of offices before the first and after
the last transaction.
*
Includes one case in which a bank with resources of $10,669 billion, and operating 134 offices
acquired the assets, amounting to $18,963 million, and assumed the liabilities of 4 branches of a foreign
corporation. The 4 branches were in foreign countries, and are, therefore, not included in FDIC statistics
of banks and branches. The resources and number of offices operated of both the absorbing bank and
the absorbed offices are omitted from this table.




9

SUPERVISORY ACTIVITIES

Bank examinations. Much of the information upon which the Cor­
poration bases its decisions regarding individual banks is secured
through bank examinations and other field investigations. The Corpo­
ration is thus able to evaluate the current position of the bank and
observe developing trends, appraise the management, and discover
whether the bank is engaging in practices contrary to applicable
provisions of laws or regulations.
The Corporation regularly examines insured State banks not mem­
bers of the Federal Reserve System and reviews reports of examina­
tions of other insured banks made by the Comptroller of the Currency
and the Federal Reserve Banks. It may examine national banks, State
members of the Federal Reserve System, and banks in the District of
Columbia if, in the opinion of the Board of Directors, such examination
is necessary for insurance purposes. In some areas the examinations
of insured nonmember banks are conducted jointly or concurrently
with those of the State bank supervisory authorities.
A comparison of the number of field examinations and investigations
and of the reports reviewed in the years 1962 and 1963 is shown in
Table 5.
Citations for unsafe or unsound banking practices and violations
of law. If an insured bank is discovered to be engaging in unsafe or
unsound banking practices or to be violating any law or regulation to
T a b le 5 .

B a n k E x a m i n a t io n A ctivities of t h e F ederal D eposit I n su r a n c e
C orporation i n 1962 a n d 1963

Number
Activity

12,099

11,416

Exam inations o f m ain o ffice s.............. ..................................................
Regular examinations of insured banks not members of Federal
Reserve System.....................................................................................
Re-examinations; or other than regular examinations..........................
Entrance examinations of operating noninsured banks........................

6,630

6,719

6,494
95
41

6,614
79
26

Exam inations o f departm ents and bran ch es.....................................
Examinations of trust departments........................................................
Examinations of branches....................... ................................................

3,949
1,001
2,948

3,710
989
2,721

Investigations.............................................................................................
New bank investigations..........................................................................
State banks members of Federal Reserve System...................................
Banks not members of Federal Reserve System.....................................
New branch investigations...................... ................................................
Mergers and consolidations................... ..................................................
Miscellaneous investigations....................................................................

1,520
175
5
170
392
163
790

987
178
19
159
299
179
331

W ashington office review o f reports o f exam ination o f insured
banks— to ta l...........................................................................................
National banks..............................................................................................
State banks members of Federal Reserve System.....................................
State banks not members of Federal Reserve System..............................

11,176
2,848

10,636
2,546
1,538
6,552

Field exam inations and investigations— t o t a l......................................




1,666

6,662

10

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

which it is subject, efforts are made through normal supervisory actions
to obtain corrections. However, if the objectionable practices continue
the Board of Directors is required by Section 8(a) of the Federal
Deposit Insurance Act to initiate action which may result in the termi­
nation of the insured status of the bank. After the termination of the
insured status of any bank under these provisions of law, the insured
deposits of each depositor in the bank on the date of termination, less
all subsequent withdrawals, continue for a period of two years to be
insured.
During the year 1963, actions to terminate the insured status of two
banks were initiated. In both cases the bank failed prior to the setting
of a date for the termination of insured status. As is shown in Table 6,
the Corporation has taken such action against a total of 185 banks,
with all cases disposed of by the close of 1963.
Reports from banks. Data regarding the assets, liabilities, and
capital accounts of banks are essential for proper bank supervision,
and also for many types of economic analysis. Since 1934 the Corpora­
tion has prepared tabulations based upon reports of condition received
from insured banks as of midyear and year-end dates. Beginning in
1935, such information has also been secured from noninsured banks.
Because of changes in the method of computing deposit insurance
assessments in 1961, each insured bank is required to file four reports
of condition each year. In 1963, reports were required for March 18,
June 29, September 30, and December 20.
Banks participating in Federal deposit insurance submit reports of
income and dividends on a calendar year basis.

Table 6.

A c t io n s to T e r m in a t e

I n su r e d

S ta t u s of B a n k s

C harged

W it h

U n s a f e or U n s o u n d B a n k i n g P ractices or V io l a tio n s of L a w or
R e g u l a t io n s , 1936-1963

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 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 the date of termination of insured status...................
Banks continued in operation 2......................................................................................

1936-1963 1
185
185
71

68

34
12

9

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.




LEGAL DEVELOPMENTS
L egal D

11

evelopm ents

Federal legislation. No legislation directly affecting Federal deposit
insurance or insured banks was enacted by the Congress during 1963.
Rules and regulations of the Corporation. A new Part 334 of the
Corporation’s rules and regulations was adopted effective April 3, 1963
for the purpose of implementing the provisions of Section 5 of the Bank
Service Corporation Act, Public Law 87-856, approved October 23,
1962 (76 Stat. 1132), in their application to arrangements for the
performance of bank services for insured State nonmember banks.
Under Section 5 of the Act, no insured State nonmember bank may
cause bank services, as defined in the Act, to be performed for itself,
by contract or otherwise, and whether off or on the bank’s premises,
unless assurances satisfactory to the Corporation’s Board of Directors
are furnished to the Board of Directors by both the bank and the
party furnishing the services that the performance of the services will
be subject to regulation and examination by the Board of Directors
to the same extent as if the services were being performed by the bank
itself on its own premises. The newly adopted Part 334 prescribes rules
with respect to the form of the required assurances and the time for
furnishing them.
Section 329.6 of the Corporation’s rules and regulations was amended
effective July 17, 1963. This section prescribes the maximum permissible
rates of interest which insured banks not members of the Federal
Reserve System, other than mutual savings banks, may pay on time
and savings deposits. The amendment affected only the rates of inter­
est on time deposits (other than postal savings deposits constituting
time deposits) which have a maturity date of less than 12 months and
not less than 90 days from the date of deposit or are payable upon
written notice of less than 12 months and not less than 90 days. For
such deposits, the amendment increased the maximum permissible rate
of interest for periods commencing on or after the effective date of the
amendment to 4 percent per annum. The maximum rates previously
prescribed for all other time and savings deposits remained in effect.
The new Part 334 and amended Section 329.6 of the rules and regu­
lations, published in the Federal Register April 3, 1963 (28 F.R. 32013202) and July 20, 1963 (28 F.R. 7423-7424) are set forth in Part Two
of this report.
State legislation. Part Two also includes a summary of State bank­
ing legislation enacted in 1963.




12

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

A

d m in is t r a t io n

of

the

C o r p o r a t io n

Structure and employees. The Corporation is managed by a bi­
partisan Board of Directors of three members. Two directors are
appointed for terms of six years by the President, by and with the
advice and consent of the Senate. The Comptroller of the Currency
serves ex officio as the third director.
Mr. Erie Cocke, Sr., completed his 6-year term of office on August 4,
1963. Mr. Cocke had served as Chairman of the Board of Directors
from January 20, 1961, until the end of his term. Mr. James J. Saxon,
the Comptroller of the Currency and a member of the Corporation’s
Board of Directors, acted as Chairman after Mr. Cocke’s departure.
On January 22, 1964, Mr. Joseph W. Barr was appointed to a 6-year
term as a member of the Board of Directors. Mr. Barr was elected
Chairman of the Board on the following day. Mr. Jesse P. Wolcott
retired at the expiration of his term of office on January 26, 1964. He
had received an interim appointment to the Board of Directors on
September 12, 1957, and was appointed to a 6-year term on January 27,
1958, serving as Chairman of the Board from September 17, 1957 until
January 20, 1961. His successor as a member of the Board of Directors,
Mr. Kenneth A. Randall, was appointed on March 10, 1964, for a term
of six years.
The Corporation maintains its main office in Washington, D. C., and
District offices in 12 cities. During the month of May, 1963, the head­
quarters offices of the Federal Deposit Insurance Corporation were
moved into the Corporation’s new office building at 550 Seventeenth
Street, N. W. in Washington. On June 16, ceremonies of dedication of
the new building also marked the thirtieth anniversary of the Banking
Act of 1933 which created the Corporation.
An organization chart of the Corporation, a list of its officials, and
the location of each district office, the area it serves, and the names of
the respective Supervising Examiners are given on pages iv to vii
of this report.
The number of officers and employees of the Corporation assigned
to the various offices and divisions as of December 31, 1963, are shown
in Table 7. There were 7 more employees on that date than a year
earlier. In most divisions there was a small reduction of regular per­
sonnel, the greatest being in the Office of the Controller which had 15
less personnel. The latter was due to a decrease in the maintenance
staff made possible by the procurement of maintenance services for
the new FD IC headquarters building, on contract, from the General
Services Administration. The increase in the staff of the Division of
Liquidation to 64 employees, in contrast to 36 at the end of 1962, was




13

ADM IN ISTRATION OF T H E CORPORATION
T a b le 7 .

N u m b e r of O fficers a n d E m p lo y e e s of t h e F ederal D eposit
I n s u r a n c e C orporation , D e cem ber 31, 1963

Division

Total

Washington
office

District
and other
field
offices

1,249
Directors..................................................................................
Executive Offices........................................... ........................
Legal Division.........................................................................
Division of Examination........................................................
Division of Liquidation..........................................................
Division of Research and Statistics......................................
Audit Division........................................................................
Office of the Controller..........................................................

289

960

2
19
21
958
64
47
40
98

2
19
21
55
28
47
19
98

0
0
0
903
36
0
21
0

due to the temporary employment of field liquidation employees pres­
ently needed in the Chatham Bank liquidation, Chicago, Illinois, whose
employment will be terminated as the liquidation progresses.
For all employees (excluding temporary field liquidation personnel)
the turnover ratio was 17 per 100 in 1963. Among field examiners, who
comprise the largest group of employees, the rate was 12 per 100.
Thirty-eight of the 91 examiners who left the employ of the Corpora­
tion in 1963 went to banks or to State or Federal supervisory agencies.
Of the other examiners terminating their services with the Corporation,
9 retired, 9 left to enter military service, 9 went to other Government
agencies, there were 3 deaths, 6 returned to college, 5 entered private
business, and 12 left for other reasons.
Employee benefits and programs. At the close of 1963, 91 percent
of the Corporation’s personnel were participating in the Federal Em­
ployees Health Benefits program; while 92 percent (of eligible employ­
ees) had availed themselves of the group life insurance benefits
provided. Ninety-seven percent of the employees were included in the
Civil Service Retirement System. Other benefits available to employees
include vacation and sick leave, compensation for on-the-job injuries,
and unemployment benefits.
An educational program for examiners was started by the Corpora­
tion in 1946. By the close of 1963, examiners had completed 3,400
courses of study. These include correspondence courses as well as
courses which require study in residence at various schools. A Bank
Examination School is conducted jointly by the Corporation and the
Federal Reserve System. Since 1952, 542 of the Corporation’s examiners
and assistant examiners have attended sessions held at that school.
Regional training programs in automation also are conducted jointly
by the Corporation and the Federal Reserve Board. Twenty-one cor­
poration examiners have attended the three programs held prior to
December 31, 1963.



14

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

F in a n c e s

of t h e

C o r p o r a t io n

Assets and liabilities. On December 31, 1963, the assets of the
Corporation amounted to $2,823.1 million. The principal item consisted
of United States Government obligations, which, together with accrued
interest, were valued at $2,798.1 million. Cash amounted to approxi­
mately $2.0 million, assets acquired in insurance transactions to $14.6
million, land and office building $8.2 million, and other assets about
$0.2 million.
Liabilities were $155.2 million, of which $152.1 million consisted of
assessment credits due insured banks. The deposit insurance fund,
representing the Corporation’s accumulated net income from its incep­
tion, amounted to $2,667.9 million. The financial condition of the
Corporation, as of December 31, 1963, is showT in Table 8.
n
In addition to the resources enumerated in Table 8 the Corporation
has authorization to borrow from the United States Treasury, and the
Secretary of the Treasury is authorized and directed to loan to the
Corporation, on such terms as may be fixed by the Corporation and
the Secretary, not to exceed $3 billion outstanding at any one time,
when in the judgment of the Board of Directors of the Corporation
such funds are required for insurance purposes. The Corporation has
never exercised this borrowing power.
Income and expenses in 1963. The Corporation’s income and ex­
penses for the year ended December 31, 1963, together with the change
for the year in the deposit insurance fund, are presented in Table 9.
In 1963, the Corporation’s income from assessments together with
other income, derived principally from investments in United States
Government securities, amounted to $181.8 million. Operating expenses
were $14.3 million, and provisions for insurance losses and absorbed
insurance expenses amounted to $1.6 million. Net income added to the
deposit insurance fund during 1963 amounted to $165.9 million.
The determination and distribution of the Corporation’s net assess­
ment income for the year ended December 31, 1963, are shown in
Table 10.
In accordance with the formula provided in the Federal Deposit
Insurance Act, the total assessments due the Corporation during the
calendar year, amounting to $220.5 million, was reduced by $15.9 mil­
lion, the total of administrative and operating expenses, net additions
to the reserve for insurance losses, and insurance expenses, leaving
net assessment income for 1963 of $204.6 million. One-third of this
amount, $68.2 million, was transferred to the deposit insurance fund,
and the remainder, $136.4 million, was credited to insured banks. The




15

FINANCES OF T H E CORPORATION
T a b le 8 .

S t a t e m e n t of F in a n c ia l C o n d it io n , F ederal D eposit I n s u r a n c e
C orporation , D ecem ber 31, 1963
ASSETS

C ash ...................................................................................................
U. S. Governm ent obligations:
Securities at amortized cost (face value $2,791,325,000;
market or redemption value $2,690,369,886)..........................
Accrued interest receivable........................... ...............................
Assets acquired in receivership and deposit assum ption
transactions: 1
Subrogated claims of depositors against closed insured banks. . .
Net instared balances of depositors in closed insured banks, to
be subrogated when paid—see related liability......................
Loans to insured banks.................................................................
Equity in assets acquired under purchase agreements..............
Assets purchased outright............................................................

1,955,105

$2,774,351,466
23,778,549

$

17,122,082
310,845
954,915
1,667,569
47,951

$
Less reserve for losses...................................................................

2,798,130,015

20,103,362
5,485,000

14,618,362

M iscellaneous assets......................................................................
Land and office building, less depreciation on bu ild in g . . .
Furniture, fixtures, and equipm ent (cost $820,313).............

175,800
8,267,889

T otal assets............................... ................................

$2,823,147,172

1

L IABILITIES AND DEPOSIT INSURANCE FUND 2

1,100,166

A ccounts payable and accrued liabilities...................................
Earnest m oney, escrow fu nds, and collections held for
oth ers......................................................................................
A ccrued annual leave o f em ployees...........................................
Assessment credits due insured banks:
Available July 1, 19643...................................................................
Available immediately....................................................................

368,012
1,319,271
136,431,560
15,707,804

152,139,364

Net insured balances o f depositors in closed insured banks
— see related asset...............................................................

310,845

Total liabilities..........................................................

$ 155,237,658

Deposit insurance fund, net incom e accum ulated since
inception (Table 9 and note 4 ) .........................................

2,667,909,514

Total liabilities and deposit insurance fu n d . . .

$2,823,147,172

The following notes are an integral part of this statement.
1
Reported hereunder is the book value of assets in process of liquidation. An analysis of transactions
relating to all assets acquired in receivership and deposit assumption cases, including those assets which
have been liquidated, is furnished in Table 2.
*
Capital stock was retired by payments to the United States Treasury in 1947 and 1948 pursuant
to the Acts of August 5, 1947 (61 Stat. 773) and June 29, 1948 (62 Stat. 1092), with total interest pay­
ments made thereon in 1950 and 1951, pursuant to the Act of September 21, 1950 (64 Stat. 873).
3 The Federal Deposit Insurance Act (12 U.S.C. 1817) provides that insured banks shall pay to the
Corporation semiannual insurance assessments computed at the semiannual rate of one twenty-fourth
of 1 percent of the average of the deposit liabilities reported on the two reports of condition in such
semiannual period, less certain authorized exclusions and deductions. The Act also provides that insured
banks shall be allowed pro rata credits of 66% percent of the Corporation’s net assessment income (total
assessments less insurance and operating costs of the Corporation) for each calendar year. The credits become
available on July first following the close of the calendar year, for application to the payment of sub­
sequent assessments. Assessment credits for the calendar year 1963, which will become available to the
banks on July 1, 1964, are reported, with other credits to insured banks, under the caption “ Assessment
Credits Due Insured Banks.” The net assessment income credit for 1963 reduced insured banks’ assess­
ments from the statutory rate of one-twelfth of one percent to an effective rate of about one thirtyfirst of one percent of assessable deposits for the calendar year 1963.
4 The deposit insurance fund of $2.67 billion as of December 31, 1963, represents the accumulated
net income of the Corporation and is available for insuring deposits and payment of expenses. The
Fund amounts to about 0.85 percent of total deposits in insured banks in the amount of $313.3 billion.
In addition to this fund, the Corporation is authorized to borrow from the United States Treasury, and
the Secretary of the Treasury is authorized and directed to loan to the Corporation on such terms as
may be fixed by the Corporation and the Secretary, not to exceed $3fbillion outstanding at any one time,
when in the judgment of the Board of Directors of the Corporation such funds are required for insurance
purposes. No borrowings have been made under this authorization.
NOTE: The financial statements presented herein do not include accountability for assets and
liabilities of closed insured banks acquired by the Corporation in its fiduciary capacity as receiver or
liquidating agent. Periodic and final accountability reports are furnished to the Courts, supervisory au­
thorities, and others, as required.




16

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

net assessment income credit for 1963 reduced the statutory assessment
rate of one-twelfth of 1 percent to an effective rate of one-thirty-first
of 1 percent of assessable deposits.
Flow of funds in 1963. Information regarding the sources and
uses of funds by the Corporation during the calendar year 1963 is
given in Table 11. The principal sources of funds were maturities and
sales of United States Government securities, income from such securi­
ties, and net deposit insurance assessments. About 95 percent of the
total funds provided were applied to the purchase of United States
Government securities.
Income and the deposit insurance fund, 1934-1963. Total income
of the Corporation from the beginning of its operations to December 31,
1963, amounted to $2,981.5 million. About two-thirds of the income
has been derived from deposit insurance assessments after crediting
insured banks with $1,311 million representing their share of net assess­
ment income, and one-third from investments and other sources.
Table 9.

S t a t e m e n t of I n c o m e a n d D eposit I n s u r a n c e F u n d , F ederal

D eposit I n s u r a n c e

C orporation , Y ear E nded

Income:
Deposit insurance assessments:
Gross assessments for the year.....................
Less net assessment income credits..............

D ecem ber

$ 220,566,571
136,422,380

31,

$

84,144,191

$

84,219,980
97,532,331
63,999

Income from adjustments for prior periods.

75,789

Net income from U.S. Government securities..............
Other income....................................................................
Total income......................................................

$ 181,816,310

Expenses and losses:
Administrative and operating expenses:
Salaries and wages...........................................................
Civil Service retirement fund and F.I.C.A. payments.
Travel expenses................................................................
Rents and utilities...........................................................
Depreciation on building................................................
Other expenses.................................................................
Provisions for insurance 1
Applicable to the year ended December 31, 1963.

1963

9,599,239
611,156
2,550,913
409,751
82,111
1,078,114
.

Adjustments to provisions made in prior years:
Applicable to net assessment income for 1963. .
Not applicable to net assessment income..........

$

$

14,331,284

1,380,000

s

13,586
13,000(D)

$

586

1,380,586

Insurance expenses......................................................
Total expenses and losses...................................

208,131
$

15,920,001

Net income— addition to the deposit insurance fund
for the year ended December 31, 1963........................

$ 165,896,309

Deposit insurance fund, January 1, 1963..........................

2,502,013,205

Deposit insurance fund, December 31, 1963, net income
accumulated since inception (Table 8 and note 4) . . .

$2,667,909,514

(D) Deduct
The notes following Table 8 are an integral part of this statement.




17

FIN AN CES OF T H E CORPORATION

Table 10.

D e t e r m in a t io n

F ederal D eposit I n s u r a n c e

an d

D is t r ib u t io n

of

N et

C orporation , Y ear E nded

A ssessm en t
D e cem ber

I ncom e,

31, 1963

Determination of net assessment income:
Total assessments which became due during the calendar
year..................................................................................
Less:
Administrative and operating expenses...........................
Net additions to reserve to provide for insurance losses:
Provisions applicable to 1963...................................
Adjustments to provisions made in prior years. . . .

$220,566,571
$ 14,331,284
$

1,380,000
13,586

1,393,586

Insurance expenses............................................................

208,131

Total deductions................................................

$ 15,933,001

Net assessment income for 1963.................................

$204,633,570

Distribution of net assessment income, December 31,
1963:
Net assessment income for 1963:
33J^% transferred to the deposit insurance fund..........
66%% credited to insured banks.....................................

$ 68,211,190
136,422,380
$204,633,570

Total...................................................................

Percentage of total
assessment
becoming due in
1963

Allocation of net assessment income credit among
insured banks, December 31, 1963:
Credit for 1963.......................................................................
Adjustments of credits for prior years................................

$136,422,380
9,180

61.851%
.004

Total...................................................................

$136,431,560

61.855%

Expenses and losses have only slightly exceeded 10 percent of the
Corporation’s income. The deposit insurance fund, amounting to
$2,667.9 million at the close of 1963, represents the cumulative net
income of the Corporation since the beginning of its operations.
Income, expenses and losses, and the net income added to the deposit
insurance fund in each year of the Corporation’s operations are shown
in Table 12.
Table 11.

S ources a n d A pplic atio n of F u n d s of t h e F ederal D eposit

I n s u r a n c e C orporation for t h e C alendar Y ear 1963

Funds provided by:
Net deposit insurance assessments................................................................................
Net income from U.S. Government securities, leas amortization of net discounts. .
Maturities and sales of U.S. Government securities...................................................
Collections on assets acquired in receivership and deposit assumption transactions...
Increase in assessment credits due insured banks........................................................

$ 84,219,980
95,612,906
705,427,750
4,549,995
11,465,771

Total funds provided...................................................................................

$901,276,402

Funds applied to:
Administrative, operating and insurance expenses, less miscellaneous credits.........
Acquisition of assets in receivership and deposit assumption transactions...............
Construction costs of office building.............................................................................
Purchases of U.S. Government securities.....................................................................
Net change in other assets and liabilities.....................................................................

$ 14,393,305
18,991,173
704,787
862,600,846
4,586,291

Total funds applied.....................................................................................

$901,276,402




18

FEDERAL DEPOSIT IN SU RANCE CORPORATION

Table 12.
by

I n c o m e an d E x p e n s e s , F ederal D eposit I n s u r a n c e C orporation ,

Y ears , F r o m B e g in n in g of O pe r a tio n s , S e ptem ber 11, 1933, to
D ecem ber 31, 1963, A djusted to D ecem ber 31, 1963
(In millions)
Income

Expenses and

Total

ments1

Invest­
ments
and
other
sources2

1933-63.. . $2,981.5

$1,984.8

$996.7

1963.........
1962.........
1961.........
1960.........
1959.........

181.7
161.1
147.3
144.6
136.5

84.1
76.5
73.4
79.6
78.6

97.6
84.6
73.9
65.0
57.9

1958.........
1957.........
1956........
1955.........
1954.........

126.8
117.3
111.9
105.7
99.7

73.8
69.1
68.2

11.6

62.4

53.0
48.2
43.7
39.6
37.3

1953.........
1952.........
1951.........
1950.........
1949.........

94.2
88.6
83.8
84.8
151.1

60.2
57.3
54.3
54.2
122.7

1948.........
1947.........
1946........
1945.........
1944.........

145.6
157.5
130.7

1943........
1942........
1941........
1940.........
1939.........

86.6

1938.........
1937.........
1936.........
1935.........
1933-34...

Net
income
added to
deposit
insurance
fund4

Deposit
insurance
losses and
expenses

Interest
on capital
stock*

Adminis­
trative
and
operating
expenses

$313.6

$32.0

$80.6

$201.0

$2,667.9

15.9
13.8
14.8
12.5

1.5

14.4
13.7
13.2
12.4
11.9

165.8
147.3
132.5
132.1
124.4

9.7
9.6
9.0
7.8

11.6
9.6
9.1
8.7
7.7

115.2
107.6
102.3
96.7
91.9

34.0
31.3
29.5
30.6
28.4

7.3
7.8
6.9
7.8
6.4

7.2
7.0
6.9
6.4
6.1

86.9
80.8
76.9
77.0
144.7

119.3
114.4
107.0
93.7
80.9

26.3
43.1
23.7
27.3
18.4

7.0
9.9
10.0
9.4
9.3

.6
4.8
5.8
5.8
5.8

5.7
5.0
4.1
3.5
3.4

138.6
147.6
120.7
111.6
90.0

16.6

69.1
62.0
55.9
51.2

70.0
56.5
51.4
46.2
40.7

9.8

5.8
5.8
5.8
5.8
5.8

3.8
3.8
3.7
3.6
3.4

76.8
59.0
51.9
43.0
34.8

47.7
48.2
43.8
20.8
7.0

38.3
38.8
35.6
11.5

5.8
5.8
5.8
5.8
5.6

3.0
2.7
2.5
2.7
4.2®

36.4
36.0
32.9
9.5
-3 .0 7

Year
Total

121.0

99.3

Deposit
insurance

66.1

(s)

12.1

.1
1.6
.1

.2

1.4
.3
.7
.1

.1
.1
.1

12.6

10.1

9.7
10.5

10.1
12.9
16.4

3.5
7.2

9.4
9.4

12.2

11.3

2.5
3.7

10.6

8. 2

9.3
7.0

10.9
11.3
10.0

.5
.6

2. 6
2. 8

.2

1 For the period from 1950 to 1963, inclusive, figures are net after deducting the portion of net
assessment income credited to insured banks pursuant to provisions of the Federal Deposit Insurance
Act of 1950, as amended. Assessment credits to insured banks for these years amounted to $1,311 million
equal to 57.7% of gross assessments.
2 Includes $9.1 million of interest and allowable return received on funds advanced by the Corporation
in 161 receivership and deposit assumption cases.
*
Paid in 1950 and 1951, but allocated among years to which it applies. Initial capital of $289 million
was retired by payments to the United States Treasury in 1947 and 1948.
4
The amounts shown herein give effect to adjustments to the deposit insurance fund in the years
to which they are applicable, whereas the amounts of the Fund shown in Table 13 represent the Fund as
reported on the dates specified. Hence the deposit insurance fund reported in Table 13 cannot be com­
puted by annual addition of income reported herein, except for the Fund as of December 31, 1963.
6 Assessments collected from members of the temporary insurance funds which became insured under
the permanent plan were credited to their accounts at the termination of the temporary funds and were
applied toward payment of subsequent assessments becoming due under the permanent insurance fund,
resulting in no income to the Corporation from assessments during the existence of the temporary in­
surance funds.
8
Net after deducting the portion of expenses and losses charged to banks withdrawing from the
temporary insurance funds on June 30, 1934.
7 Deduction.
NOTE: Beginning with this report, income of approximately $2.5 million derived from credit union
fees and other sources relating to the administration of the Federal Credit Union Act from April, 1942
to July, 1948, and expenses in the same amount incurred in connection therewith, are excluded from
this analysis of the Corporation’s cumulative net income.

The growth of the deposit insurance fund in relation to the increase
in deposits in insured banks is presented in Table 13. The figures for



19

FIN AN CES OF T H E CORPORATION

percent of deposits insured represent estimates based upon specific
reports received from insured banks at various times.
T a b le 1 3 .

I n su r e d D eposits a n d t h e D eposit I n s u r a n c e F u n d , 1934-1963

Year
(Dec. 31)

Deposits in
insured banks
(in millions)

Percent
of
deposits
insured

Total

Insured1

1963............................................
1962............................................
1961............................................
1960............................................
1959............................................

$313,3042
297,5484
281,304
260,495
247,589

(*)
$179,088
164,071
149,684
142,131

1958............................................
1957............................................
1956............................................
1955............................................
1954............................................

242,445
225,507
219,393
212,226
203,195

137,698
127,055
121,008
116,380
110,973

56.8
56.3
55.2
54.8
54.6

1953............................................
1952............................................
1951............................................
1950............................................
1949............................................

193,466
188,142
178,540
167,818
156,786

105,610
101,842
96,713
91,359
76,589

1948............................................
1947............................................
1946............................................
1945............................................
1944............................................

153,454
154,096
148,458
158,174
134,662

1943............................................
1942............................................
1941............................................
1940............................................
1939............................................
1938............................................
1937............................................
1936............................................
1935............................................
1934............................................

Deposit
insurance
fund
(in
millions)

Total
deposits

Insured
deposits

.85%
.84
.84
.85
.84

(»)
1.40%
1.43
1.48
1.47

1,965.4
1,850.5
1,742.1
1,639.6
1,542.7

.81
.82
.79
.77
.76

1.43
1.46
1.44
1.41
1.39

54.6
54.1
54.2
54.4
48.8

1,450.7
1,363.5
1,282.2
1,243.9
1,203.9

.75
.72
.72
.74
.77

1.37
1.34
1.33
1.36
1.57

75,320
76,254
73,759
67,021
56,398

49.1
49.5
49.7
42.4
41.9

1,065.9
1,006.1
1,058.5
929.2
804.3

.69
.65
.71
.59
.60

1.42
1.32
1.44
1.39
1.43

111,650
89,869
71,209
65,288
57,485

48,440
32,837
28,249
26,638
24,650

43.4
36.5
39.7
40.8
42.9

703.1
616.9
553.5
496.0
452.7

.63
.69
.78
.76
.79

1.45
1.88
1.96
1.86
1.84

50,791
48,228
50,281
45,125
40,060

23,121
22,557
22,330
20,158
18,075

45.5
46.8
44.4
44.7
45.1

420.5
383.1
343.4
306.0
333.0

.83
.79
.68
.68
.83

1.82
1.70
1.54
1.52
1.84

(*)
60.2%
58.3
57.5
57.4

$2,667.9
2,502.0
2,353.8
2,222.2
2,089.8

Ratio of deposit
insurance fund to—

1
Figures estimated by applying to the deposits in the various types of account at the regular call
dates the percentages insured as determined from special reports secured from insured banks.
3 December 20, 1963.
* Not estimated.
* December 28, 1962.

Audit. The Audit Division of the Corporation makes a continuous
audit of its financial operations, including the Corporation’s liquida­
tion activities. Field verification of insurance assessments against
insured banks is conducted on a test basis.
The General Accounting Office has conducted annually since 1945
an independent audit of the affairs of the Corporation. The Report on
Examination of Financial Statements for the year ended June 30, 1963,
furnished by the Comptroller General is reproduced in Table 14.




20

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 14.

R eport o n E x a m i n a t io n of F in a n c ia l S t a t e m e n t s of F ederal

D eposit I n s u r a n c e C orporation , Y ear E nded J u n e 30, 1963

C O M P T R O L L E R G E N E R A L OF T H E U N IT E D STA TES
W A S H IN G T O N 20548
B -l 14831

December 16, 1963

To
Federal Deposit Insurance Corporation
The General Accounting Office has made an audit of the F E D E R A L D EPO SIT
IN SU R A N C E C O R PO R ATIO N , an independent Government agency, for the
year ended June 30, 1963, pursuant to section 17(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1827).
Our examination of the Corporation’s statement of financial condition as of
June 30, 1963, and the related statements of income and deposit insurance fund
and of sources and application of funds for the year then ended, 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 circumstances and appropriate in view of the effective­
ness of the system of internal control and the work performed by the Corpora­
tion’s internal auditors.
The Corporation’s accumulated net income has been retained as a deposit
insurance fund and is available for future deposit insurance losses. W e are unable
to express an opinion on the adequacy of the deposit insurance fund to meet
future losses because the amount that may be needed is dependent on future
economic conditions.
In our opinion, except that we cannot express an opinion on the adequacy of
the deposit insurance fund for the reasons stated in the preceding paragraph, the
accompanying financial statements (schedules 1 through 4) present fairly the
financial position of the Federal Deposit Insurance Corporation at June 30, 1963,
and the results of its operations and the sources and application of its funds 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.
/ s / Joseph Campbell




Comptroller General of the United States

21

FIN AN CES OF T H E CORPORATION

Table 14.

R eport o n E x a m i n a t io n of F in a n c ia l S t a t e m e n t s of F ederal

D eposit I n s u r a n c e C orporation , Y ear E nded J u n e 30, 1963— Continued

Schedule 1.

F ederal D e posit I n s u r a n c e C o rporation ,

S t a t e m e n t of F in a n c ia l C o n d it io n , J u n e 30, 1963

ASSETS
C a sh ...................................................................................................
U. S. Governm ent obligations:
Securities at amortized cost (face value, $2,754,363,000; market
or redemption value, $2,687,030,843)....... ...............................
Accrued interest receivable........................... ...............................

1,058,519

$2,742,183,436
22,922,044

Assets acquired in receivership and deposit assum ption
transactions:
Subrogated claims of depositors against closed insured banks..
Net insured balances of depositors in closed insured banks, to
be subrogated when paid—see related liability......................
Loans to insured banks................................................................
Loan to receiver for closed insured bank..... ..............................
Equity in assets acquired under purchase agreements..............
Assets purchased outright............................. ...............................
Less reserve for losses....................................................................

2,765,105,480

7,560,997
196,625
956,680
25,000
1,666,112
47,968
10,453,382
5,103,700

5,349,682
117,558

M iscellaneous assets......................................................................
Office prem ises:
Land, at cost..................................................................................
Building, at cost less $16,423 depreciation 1..............................

1,635,270
6,552,635

8,187,905

Furniture, fixtures, and equ ipm ent, cost $807,483................

1

T otal assets..................................................................

$2,779,819,145

LIABILITIES AND DEPOSIT INSURANCE FUND

2

A ccounts payable and accrued liabilities................................
Earnest m oney, escrow funds, and collections held for
oth ers.....................................................................................
A ccrued annual leave o f em ployees......... ................................
Assessment credits due insured banks: 3
Available July 1, 1963..................................................................
Available July 1, 1964— estimated..............................................
Other.............................................................. ................................

1,106,964
363,661
1,317,722
$ 126,922,299
66,855,474
188,139

Net insured balances o f depositors in closed insured banks—
see related asset.........................................................................
T otal liabilities............................................................
Deposit insurance fu nd, net income accumulated since incep­
tion (schedule 2 and notes 4 and 5 ).........................................
T otal liabilities and deposit insurance fu nd . . . .

The notes following schedule 4 are an integral part of this statement.




193,965,912
196,625
196,950,884
2,582,868,261
$2,779,819,145

22

FEDERAL DEPOSIT INSURANCE CORPORATION

T ab le 1 4 .

R eport on E x a m i n a t io n

of

F in a n c ia l S t a t e m e n t s of F ederal

D eposit I n s u r a n c e C orporation , Y ear E nded J u n e 30, 1963— Continued
Schedule 2 .

F ederal D eposit I n s u r a n c e C orporation ,

S t a t e m e n t of I n c o m e an d D eposit I n s u r a n c e F u n d ,
Y ear E nded J u n e 30, 1963

Income:
Deposit insurance assessments: 3
$211,011,870
130,662,915

$

80,348,955
90,404

Net income from U. S. Government securities............................

80,439,359
91,395,632
30,086

Total income..................................................................

171,865,077

Expenses and losses:
Administrative and operating expenses:
9,561,010
603,607
2,597,440
522,121
16,423
867,535

14,168,136

1,071,000
Less adjustments to provisions made in prior years................ 309,431

761,569

Civil Service retirement fund and F.I.C.A. payments............
Depreciation on building............................................................
Provisions for insurance losses:

Other expenses.................................................................................

79,795

Total expenses and losses...........................................

15,009,500

Net income— addition to the deposit insurance fund for
the year ended June 30, 1963................................................

156,855,577

Deposit insurance fund July 1, 1962...........................................

2,426,012,684

Deposit insurance fund June 30, 1963 (schedule 4 and notes 4
and 5 ) ...........................................................................................

$2,582,868,261

The notes following schedu ^<4 are an integral part of this statement.

Schedule 3 .

F ederal D epo sit I n s u r a n c e C orporation ,

S t a t e m e n t of S ources a n d A pp lic a tio n of F u n d s ,
Y ear E nded J u n e 30, 1963

Funds provided by:
Net deposit insurance assessments............................................................................
Net income from U. S. Government securities, less amortization of net discounts..
Maturities and sales of U. S. Government securities..................................................
Collections on assets acquired in receivership and deposit assumption transactions. .
Increase in assessment credits due insured banks........................................................
Total funds provided. . .

...

Funds applied to:
Administrative, operating, and insurance expenses, less miscella:neous credits........
Acquisition of assets in receivership and deposit assumption tra:nsactions...............
Construction costs of office buildiner..............................................
Purchases of U. S. Government securities....................................................................
Net change in other assets and liabilities..........................................
................
Total funds applied.........................................................................................




$

80,439,359
89,729,715
1,061,650,591
1,289,172
15,256,380

$1,248,365,217
$

14,201,422
5,319,942
2,005,125
1,223,155,401
3,683,327

$1,248,365,217

23

FIN AN CES OF T H E CORPORATION

Table 14. R eport

on

E x a m i n a t io n of F in a n c ia l S t a t e m e n t s of F ederal D eposit

I n s u r a n c e C orporation , Y ear E nded J u n e 30, 1963— Continued

Schedule 4.

F ederal D epo sit I n s u r a n c e C orporation ,

A n a l y s is of D eposit I n s u r a n c e F u n d ,
I n c e p t io n to J u n e 30, 1963

Income:
Insurance assessments.....................................................................................................
Less net assessment income credits...............................................................................

$3,183,777,060
1,241,383,062

Net insurance assessments........................................................................

1,942,393,998

Income from U. S. Government securities....................................................................
Other income (principally interest and allowable return from deposit insurance
assumption and receivership cases)........................................................................

937,146,922

Total income..................................................................................................

2,888,869,196

Expenses and losses:
Administrative and operating expenses........................................................................
Deposit insurance losses and expenses..........................................................................
Interest paid to the Secretary of the Treasury on retired capital stock...................

193,932,456
31,506,167
80,562,312

9,328,276

Total expenses and losses...........................................................................

306,000,935

Deposit insurance fund, net income accumulated since inception 6...............

$2,582,868,261

N otes to t h e F in a n c ia l S t a t e m e n t s — J u n e 30, 1963
1 Depreciation has been computed at the annual rate of 2 percent.
2 Capital stock was retired by payments to the United States Treasury in 1947 and 1948, pursuant
to the Acts of August 5, 1947 (61 Stat. 773) and June 29, 1948 (62 Stat. 1092), with total interest pay­
ments made thereon in 1950 and 1951 pursuant to the Act of September 21, 1950 (64 Stat. 873).
3 The Federal Deposit Insurance Act (12 U.S.C. 1817) provides that the insured banks shall pay
to the Corporation semiannual insurance assessments computed at the semiannual rate of one twentyfourth of 1 percent of the average of the deposit liabilities reported on the two reports of condition in
such semiannual period, less certain authorized exclusions and deductions. The Act also provides that
insured banks shall be allowed pro rata credits of 66% percent of the Corporation’s net assessment in­
come—total assessments less insurance and operating costs of the Corporation—for each calendar year.
The credits become available on July first following the close of the calendar year for application to the
payment of subsequent assessments. Assessment credits have been computed for the calendar year 1962
and estimated for the first six months of calendar year 1963. These and other credits to insured banks
are reported under the caption “ Assessment Credits Due Insured Banks.” The net assessment income
credits to insured banks in 1962 reduced their assessments from the statutory rate of one twelfth of 1
percent to an effective rate of about one thirty-second of 1 percent of assessable deposits and it is esti­
mated that the same effective rate continued during fiscal year 1963.
*
The deposit insurance fund of $2.6 billion at June 30, 1963, represents the accumulated net income
of the Corporation and is available for insuring deposits and payment of expenses. The Fund amounts
to about 1.4 percent of insured deposits estimated at $183.6 billion and to about 0.85 percent of total
deposits of all insured banks in the amount of $303.2 billion. The law does not specify either the amount
or the ratio of insured deposits to which the insurance fund is to be accumulated. In addition to this fund,
the Corporation is authorized to borrow from the United States Treasury, and the Secretary of the
Treasury is authorized and directed to loan to the Corporation on such terms as may be fixed by the
Corporation and the Secretary, not to exceed $3 billion outstanding at any one time, when in the judg­
ment of the Board of Directors of the Corporation such funds are required for insurance purposes. No
borrowings have been made under this authorization.
The Corporation, from its inception to June 30, 1963, has made disbursements of $365.1 million in
protecting depositors of 446 insured banks and in facilitating the termination of liquidations. Related
accumulated losses amount to $31.5 million, including estimated losses of $5.1 million on liquidations
not terminated at the close of the year ended June 30, 1963, but not including $9 million of interest and
allowable return collected from 159 of the 446 insured banks in liquidation.
6 On August 23, 1963, the Corporation was appointed Receiver of the Chatham Bank of Chicago,
Chicago, Illinois. The Corporation, as insurer of the bank’s deposits, estimates that it will pay about
$14 million in depositors’ claims, for which the Corporation will have generally a common claim against
the assets of the closed bank. However, information on which to base an estimate of the Corporation’s
loss in this case was not available as of November 20, 1963.
8
Income and expenses, amounting to $2,681,357 each, relating to the administration of the Federal
Credit Union Act by the Corporation during the period from April 27, 1942, to July 28, 1948, inclusive,
are not included in the Analysis of Deposit Insurance Fund, Schedule 4.
7 These statements do not include accountability for assets and liabilities of closed insured banks
acquired by the Corporation in its fiduciary capacity as receiver or liquidating agent. Periodic and final
accountability reports are furnished to the Courts, supervisory authorities, and others, as required.







PART TW O
COMMERCIAL BANKS CLOSED BECAUSE OF FINANCIAL
DIFFICULTIES, 1934-1962







C o m m e r c ia l B a n k s C lo sed B e c a u s e o f F in a n c ia l D if f ic u l t ie s ,

1934-1962
Since the beginning of its activities, the Federal Deposit Insurance
Corporation has maintained a continuing interest in the extent and char­
acter of losses to bank depositors, both before and after the advent of
deposit insurance. A study of such losses during the period, 1865-1934,
was published in the Corporation’s annual report for 1934; and revised
and additional data were given in the 1940 annual report. The Corpora­
tion’s annual report for 1958 presented a summary of its own operations
to protect depositors in failing insured banks, with information regarding
each of the closed banks during the period, 1934-1958.
We present here tabulations showing by years, the number, deposits,
and losses on deposits, of all commercial banks closed because of fi­
nancial difficulties during the period, 1934-1962, with additional infor­
mation regarding the failed noninsured banks. Information regarding the
noninsured banks is not reported directly to the Corporation. Data
have been obtained from various sources, largely from the State bank­
ing agencies or their published reports.
Number and deposits of banks closed. During the 29 years from
1934 to 1962, inclusive, 573 commercial banks with deposits totaling
$694 million were closed because of financial difficulties. Of these, 125
banks with deposits of $58 million, were not insured; and 448, with de­
posits of $637 million, were insured by the Corporation.1 Figures by
years are shown in Table 15.
Of the 125 noninsured commercial banks closed during 1934-1962 be­
cause of financial difficulties, 52 were closed in 1934. In about half of
the 1934 cases the banks were not actually closed to the public at the
time they were reported as suspended, but were placed under restric­
tions with respect to withdrawals from deposit accounts.2 Some of the
restricted banks were later reorganized or reopened but the majority of
them were ultimately placed in liquidation or receivership. Of the non­
insured banks closed during 1934-1962, nearly one-fourth were unincor­
porated, usually referred to as private banks. Most of the private banks,
and a few others chartered under a State law regarding cooperative in­
stitutions, were operating with no supervision nor examination by a
bank supervisory agency.

1 In addition, two mutual savings banks, both insured, were closed because of financial difficulties
during the period 1934-1962. The figure given here for commercial banks excludes one Illinois bank
that was placed in receivership in 1934, but had no deposits at that time. See Table 22, note 9.
2 Banks which had been placed under restrictions and reported as suspending prior to 1934, but
continuing to operate on a restricted basis after the beginning of 1934, are not included as suspensions
subsequent to January 1, 1934.




27

28

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 15.

N u m b e r a n d D e p o s it s o f C o m m e r c ia l B a n k s C l o s e d B e c a u s e o f
F in a n c ia l D if f ic u l t ie s , 1934-1962, b y Y e a r s
Number

Deposits (in thousands)
Insured

Year

Total

Nonin­
Total
sured 1

With­
out
dis­
burse­
ments
by
FDIC 2

1934-62..
1953-62..
1943-52..
1934-42..

573
46
42
485

125
17
11
97

448
29
31
388

3
9
2
3
9
3
3
5
4
5
4
5
5
9
3
6
2
1
2
5
23
16
48
71
79
83
72
32
61

2
4
1

1
5
1
3
4
2
2
5
2
4
3
2
4
5
3
5
1
1
2
5
20
14
43
59
72
76
69
26
9

With
dis­
burse­
ments
by
FDIC 3

8
4
1
3

1 9 6 2 ....
1 9 6 1 ....
1 9 6 0 ... .
1 9 5 9 ....
1958___
1957___
1 9 5 6 ....
1 9 5 5 ....
1 9 5 4 ....
1953___
1 9 5 2 ... .
1951 . . . .
1 9 5 0 ... .
1949___
1 9 4 8 ....
1 9 4 7 ....
1 9 4 6 ... .
1 9 4 5 ....
1944 . . . .
1943 . . . .
1942 . . . .
1 9 4 1 ....
1940___
19 39... .
1 9 3 8 ....
1937___
1 9 3 6 ....
1935___
1934___

Insured

1

5
1
1
2
1
1
3
1
4
1
1

3
2
5
12
7
7
3
6
52

2

1

2
1

440
25
30
385
5
1
3
4
1
2
5
2
2
3
2
4
4
3
5
1
1
2
5
20
14
43
59
72
74
69
25
9

Total

Non­
in­
sured 1

Total

With­
With
out
dis­
dis­
burse­
burse­
ments
ments
by
FDIC *
by
FDIC 2

$694,351 $57,501 $636,850 $41,147 $595,703
120,008 10,058 109,950 39,544 70,406
63,059
6,107 56,952
1,190 55,762
511,284 41,336 469,948
413 469,535
4,231
10,611
7,965
2,595
10,413
12,502
11,689
11,953
2,948
45,101
3,313
6,464
5,555
9,217
10,674
7,207
494
5,695
1,915
12,525
19,541
18,805
142,787
158,626
57,965
34,141
28,100
13,987
37,332

1,220
1,675
1,035
2,173
1,255
360
1,950
390
143
3,056
42
2,552
167
147

355
79
358
2,439
1,038
528
592
583
35,364

3,011
8,936
6,930
2,595
8,240
11,247
11,329
11,953
998
44,711
3,170
3,408!
5,5131
6 ,665!
10,674!
7,040
347
5,695
1 ^915
12,525
19,186
18,726
142,429
156,187
56,927
33,613
27,508
13,404
1,968

3,011
8,936
6,930
2,595
8,240
10,084
1,163
11,329
11,953
998
18,262
26,449
3,170
3,408
5,513
5,475
1,190
10,674
7,040
347
5,695
1 ’,915
12,525
19,186
18,726
142,429
156,187
56,927
328 33,285
27,508
85 13,319
1,968

1 For information regarding each of these banks, see Table 22. One noninsured bank placed in re­
ceivership in 1934, with no deposits at time of closing, is omitted (see Table 22, note 9). Deposits
are unavailable for 7 banks.
2 For information regarding these cases, see Table 23.
3 For information regarding each bank, see the Annual Report of the Federal Deposit Insurance
Corporation for 1958, pp. 48-83 and pp. 98-127, and tables regarding deposit insurance disbursements
in subsequent annual reports. Excludes the following cases requiring disbursements by the Corpora­
tion: 1 mutual savings bank in 1938 (payoff case no. 157); 1 mutual savings bank in 1939 (deposit
assumption case no. 83); 1 bank in voluntary liquidation in 1937 (payoff case no. 90); 1 noninsured
bank with insured deposits at date of suspension, its insurance status having been terminated prior to
suspension (payoff case no. 162); and 1 foreign-owned bank closed in 1941 by order of the Federal Gov­
ernment (payoff case no. 234).

The figures for insured commercial banks closed because of financial
difficulties differ slightly from those requiring disbursements by the Cor­
poration.3 The figures used here include eight insured banks which closed
because of financial difficulties but which were reopened, or were taken
over by other banks, without any disbursement by the Corporation, and
8See pages 4-6 and 178-183 of this report.




29

B A N K S CLOSED BECAUSE OF F IN AN C IA L DIFFICULTIES

exclude two mutual savings banks and three other cases in which the
Corporation made disbursements.4
Over four-fifths of the commercial banks closed during 1934-1962,
holding about three-fourths of the deposits of all the banks closed, were
closed during the first nine years of the period. A large proportion of
these were banks that had been reopened after the banking holiday of
1933, but were unable to recover from their previous difficulties.

T a b le

16.

L o ss e s t o

C o r p o r a t io n

in

D e p o s it o r s a n d t o t h e

C o m m e r c ia l

B anks

F e d e r a l D e p o s it I n s u r a n c e

C losed

B ecause

of

F i n a n c ia l

D if f ic u l t ie s , 1 93 4 -1 96 2, b y Y e a r s
Amount of losses (in thousands)
Insured banks
Year

1934-1962.
1953-1962.
1943-1952.
1934-1942.
1962...........................
19 61..........................
1960...........................
1959...........................
1958...........................
1957...........................
1956...........................
1955...........................
1954...........................
1953...........................
1952...........................
1951...........................
1950...........................
1949...........................
1948...........................
1947...........................
1946...........................
1945...........................
1944...........................
1943...........................
1942...........................
1941...........................
1940...........................
1939...........................
1938.............................
1937...........................
1936.............................
1935.............................
1934.............................
Unallocated by years.

Noninsured
banks (to
depositors)1

Total

To de­
positors 2

To
FDIC 2

$41,825
4,754
4,653
32,418

$10,509
1,736
1,210
7,563

$31,316
3,018
3,443
24,855

$2,280
521
16
1,743

$29,036
2,497
3,427
23,112

93
2,040
257
115
195

2,040

444

1,596

257

115
48

10
8

105
40

317
237
261

52
7

265
230
261

Total

433
237
668
70
792
397
1,385
438
641
74
43
136
708
624
3,835
8,527
2,268
3,705
2,640
3,305
6,709
1,490

93

i47
116
407
70
394
' 69

15
26
438
260
45
14
185
6,483
1,490

792
3
1,385
369
641
74
43
136
693
624
3,809
8,089
2,008
3,660
2,626
3,120
226

792
3
1,385
369
641
74

13
5
33
31
936
22
110
171
416
19

40
123
688
591
3,778
7,153
1,986
3,550
2,455
2,704
207

1 Figures for the respective years are losses on common claims, nearly all of which are depositors’
claims, as tabulated for 98 banks for which information on results of liquidation is available (from Table
19). Amount unallocated by years (but included in the period totals) is an estimate for the remaining
banks on the assumption of a similar rate of loss (from Table 19, note 1).
2 Excludes $182 thousand unclaimed insured deposits. Excludes loss in one mutual savings bank
(payoff case no. 157). Includes loss to FDIC in one bank that closed subsequent to termination of its
insured status (payoff case no. 162). In the other three cases mentioned in Table 15, note 3 there was
no loss to depositors nor FDIC.

4
The three cases include one insured bank in voluntary liquidation for which the Corporation was
liquidator, one noninsured bank with insured deposits at date of suspension (the insured status of the
bank having been terminated prior to suspension), and one foreign-owned bank closed in wartime by
order of the Federal Government.




30

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Losses in banks closed because of financial difficulties. Total losses
on deposits in the commercial banks closed because of financial difficul­
ties during 1934-1962, including both the losses to depositors and to the
Corporation, amounted to $42 million. Of this, $11 million was losses
to depositors in the closed noninsured banks, $2 million to depositors in
closed insured banks, and $29 million to the Federal Deposit Insurance
Corporation. The losses in the noninsured banks were about one-fifth of
the deposits in the banks at the time of closing. Losses to the Corpora­
tion plus those to the depositors in the closed insured banks were about
one-twentieth of the deposits in the banks at the time of closing.
Table 16 shows by year the losses on deposits in commercial banks
closed because of financial difficulties. More than three-fourths of the
losses occurred in the banks closed during 1934-1942, primarily in banks
that had reopened after the banking holiday of 1933 but had not been
able to extricate themselves from their financial troubles.
Relation of closed to operating banks. Though the number and de­
posits of insured commercial banks closed because of financial difficulties
are larger than those for noninsured banks, the figures for the insured
banks are much smaller than those for noninsured banks in comparison
with banks in active operation. Table 17 shows for three time periods,
1934-1942, 1943-1952, and 1953-1962, and for the entire period the
relation to operating banks of the number, deposits, and losses on de­
posits, of insured and noninsured banks that closed because of financial
difficulties.

Table 17.
and

R e l a t io n to O p e r a t in g B a n k s o f t h e N u m b e r , D e p o s it s ,

L o ss e s o n D e p o s it s o f C o m m e r c ia l B a n k s C lo s e d B e c a u s e
of

F i n a n c ia l D if f ic u l t ie s , 1934-1962
1934-1962

Average annual number of banks closed per
1,000 banks operating at beginning of

1934-1942

1943-1952

1953-1962

1.4

3.6

0.3

0.3

5.1
1.1

8.5
3.2

1.3
0.2

3.6
0.2

Average annual deposits in banks closed per
$100 of deposits in operating banks at
beginning of year—-total...............................

$0,018

$0,110

$0,005

$0,006

Noninsured.............................................................
Insured....................................................................

.090
.017

.269
.105

.022
.004

.049
.005

Average annual loss on deposits 1 per $100 of
deposits in operating banks at beginning
of year— total...................................................

$0,001

$0,007

$0.0003

$0.0002

Noninsured.............................................................
Insured....................................................................

.016
.001

.049
.006

.0043
.0003

.0085
.0002

1 Loss to FDIC and to depositors.




BAN KS

31

CLOSED BECAUSE OF FIN AN C IA L DIFFICULTIES

For the entire period failures of noninsured commercial banks av­
eraged 5 per year per 1,000 banks in operation, while for insured banks
the corresponding rate w 1 per year per 1,000 banks in operation. The
ras
deposits in the closed noninsured banks averaged 9 cents per year per
$100 of deposits in operating banks; but the deposits in the closed in­
sured banks averaged less than 2 cents per year per $100 of deposits in
operating banks. Losses on deposits in the closed noninsured banks av­
eraged 1.6 cents per year per $100 of deposits in operating banks. The
losses on deposits in the closed insured banks (borne largely by the
Corporation) averaged only one-tenth of 1 cent per year per $100 of
deposits in operating banks.
The number and deposits of operating banks at the beginning of each

Table 18.

N u m b e r a n d D e p o s it s o f O p e r a t in g C o m m e r c ia l B a n k s , 1934-1962,
by

I n s u r a n c e St a t u s 1

Number
Year

Dec. 31
1962.................
1961.................
1960.................
1959.................
1958.................
1957.................
1956.................
1955.................
1954.................
1953.................
1952.................
1951.................
1950.................
1949.................
1948.................
1947.................
1946.................
1945.................
1944.................
1943.................
1942.................
1941.................
1940.................
1939.................
1938.................
1937.................
1936.................
1935.................
1934.................
Jan. 1
1934 3...............

Total

Noninsured

Deposits (in millions)
Insured

Total

Noninsured

Insured

13,439
13,444
13,484
13,486
13,540
13,607
13,681
13,757
13,881
14,024
14,086
14,132
14,163
14,198
14,217
14,229
14,213
14,178
14,164
14,202
14,299
14,448
14,520
14,653
14,824
15,003
15,254
15,466
15,562

315
329
358
372
416
442
463
520
558
592
647
677
717
762
798
826
854
876
896
929
952
1,018
1,078
1,115
1,163
1,205
1,281
1,339
1,414

13,124
13,115
13,126
13,114
13,124
13,165
13,218
13,237
13,323
13,432
13,439
13,455
13,446
13,436
13,419
13,403
13,359
13,302
13,268
13,273
13,347
13,430
13,442
13,538
13,661
13,798
13,973
14,127
14,148

$263,060
249,504
230,532
220,514
217,291
202,483
198,547
193,205
185,671
177,580
173,828
165,703
156,105
145,969
143,654
145,005
140,014
151,290
129,039
106,675
89,743
71,678
65,722
58,000
51,470
48,802
50,984
45,717
40,253

$1,616
1,599
1,539
1,503
2,123
1,998
2,040
2,216
2,362
2,497
2,471
2,531
2,607
2,774
2,971
3,116
2,985
3,479
3,287
2,559
1,923
2,258
2,252
1,924
1,691
1,578
1,701
1,567
1,228

$261,444 2
247,905
228,993
219,012
215,169
200,485
196,507
190,988
183,309
175,083
171,357
163,172
153,498
143,194
140,683
141,889
137,029
147,811
125,752
104,116
87,820
69,420
63,476
56,076
49,779
47,224
49,283
44,150
39,024

14,796

1,792

13,004

30,990

1,191

29,798

1 Includes stock savings banks and trust companies not regularly engaged in deposit banking.
Figures for noninsured banks have been revised and except for recent years supersede those published
in earlier Annual Reports of the Federal Deposit Insurance Corporation.
2 As of December 28.
*
Deposits as of December 30, 1933, for banks which opened for business on January 2, 1934, as
insured or noninsured banks, respectively. The total number and total deposits differ from those for all
operating commercial banks on December 30, 1933, by excluding banks which ceased operations and
by taking account of mergers and absorptions between the close of business on December 30, 1933,
and the opening of business on January 2, 1934. The figures also exclude banks that were operating on
a restricted basis but were later placed in liquidation or receivership, which have been treated in bank­
ing statistics as closed in 1933.




32

FEDERAL DEPOSIT INSURANCE CORPORATION

year (as tabulated for the last day of the preceding year), used in com­
puting the annual rates for closed banks, are given in Table 18. At the
end of 1962 the number of insured banks was slightly larger than when
Federal deposit insurance became effective on January 1, 1934. At the
beginning of 1934, there were 1,792 commercial banks and trust com­
panies that had not become insured. By the end of that year, the number
had been reduced to 1,414, largely through qualification for admission
to insurance. At the end of 1962, there were 315 noninsured commercial
banks and trust companies. Suspensions due to financial difficulties have
accounted for less than one-tenth of the decline in the number of non­
insured commercial banks since the beginning of Federal deposit insur­
ance.

T a b le 19.

R esu l t s of L iq u id a t io n of N o n in su r e d C o m m erc ial B a n k s C losed
B e c a u s e of F in a n c ia l D if f ic u l t ie s , 1 93 4 -1 96 2, b y Y ea r s
(Amounts in thousands of dollars)
Banks for which
liquidation in­
formation is not
available 1

Year

Banks for which information on results of liquidation is available
Liabilities paid and unpaid

Number

Deposits
(at sus­
pension
or call
date
prior to
closing)

Claims
allowed
(deposits
and
borrow­
ings) 2

Paid on
secured
or pre­
ferred
claims
or by
offset

Paid
on
common
claims

Loss
on
common
claims

$5,066

$30,416

$9,019

11
211

1,053
277
30
1,565

Number

Deposits

1934-1962..

27

$7,342

98

$50,159

$44,503

1962...........
1961 .......
1960
1958...........
1957
1956
1954
1953 .
1952 .........
1951...........
1950
1949...........
1947 .........
1946
1942...........
1941...........
1940...........
1939...........
1938...........
1937 .........
1936
1935 .........
1934...........

1
3

74
1,402

3
1

454
1,255

1
1
1
2

1,146
273
1,035
1,719

1,146
277
298
1,922

1

(3
)

1

1,967

3
1

1,545
167

1
1
1
1
2
1
1

360
1,950
390
143
1,089
42
1,007

587
2,035
545
150
1,620
42
748

1
2
1
3
10
6
7
3
6
46

147
230
79
346
2,439
1,038
528
592
583
35,023

147
302
79
340
1,934
940
464
718
643
29,565

1
1
2
2
1

125
(3
)
;2
(3
)
(s)

6

341

216

93
none
257
147

290

256
1,628
475
137
1,125
42
389

116
407
70
none
394
none
69

2
n.a.
32
229
206
20
394
176
3,165

147
285
79
282
1,268
474
399
310
282
19,917

none
15
none
26
438
260
45
14
185
6,483

13
101

1The loss in these banks is estimated at SI,490 thousand, by assuming the same average percentage
loss on deposits (20.3 percent) as on claims allowed in the cases with information on results of liquidation
available.
2 Claims allowed (excluding borrowings) usually differ from deposits shown in the preceding column
for various reasons: in some cases the deposit figure is for a call date preceding the closing of the bank;
claims may not be filed for some deposits; and claims may be filed and allowed for deposits not on the
bank’s books. In addition, about half of the banks closed in 1934 were first placed on a restricted basis,
and deposits released prior to placing the bank in liquidation or receivership (though included in deposits
at date of suspension) are excluded from claims allowed and the portions of such claims paid and unpaid.
3 Not available. Deposit information is also unavailable for 1 bank in 1934 and 1 in 1940.
Note: Due to rounding, components may not add precisely to total.




B A N K S CLOSED BECAUSE OF FIN A N C IA L DIFFICULTIES

33

Creditors’ claims and recoveries in closed noninsured banks. For
27 of the 125 noninsured commercial banks closed because of financial
difficulties information has not been obtained regarding the results of
liquidation. In three of these cases deposits were paid in full, but the
amounts of the claims are not known. For the 98 cases for which the
results of liquidation are available, or can be estimated from partial
data, the c r e d ito r claims allowed by the receivers or liquidators, in­
cluding deposits assumed by absorbing institutions, amounted to $45
million. Of this amount at least $5 million was paid as secured or pre­
ferred claims or through offset to amounts owed to the banks, approxi­
mately $30 million was paid in the form of dividends on common claims,
and approximately $9 million remained unpaid. Assuming a similar

Table 20.

R e s u l t s o f L iq u id a t io n o f N o n in s u r e d C o m m e r c ia l B a n k s C l o s e d
B e c a u s e o f F i n a n c ia l D if f ic u l t ie s , 1934-1962, b y S t a t e s
(Amounts in thousands of dollars)
Banks for which Banks for which information on results of liquidation is available
liquidation in­
formation is
Liabilities paid and unpaid
not available 1

State
Num­
ber

1934-1962...............
Alabama.................
Arkansas.................
Colorado.................
Georgia...................
Illinois.....................
Indiana...................
Iowa. ......................
Kansas....................
Kentucky................
Louisiana................
Michigan................
Missouri.................
Nebraska
..........
New Hampshire. . .
New Jersey............
New Y ork ..............
North Dakota........
Ohio ......................
Oklahoma...............
Pennsylvania........
South Carolina. . . .
Tennessee.............
Texas......................
Virginia ...............
W ashington............
Wisconsin...............

De­
posits

27

$7,342

5

(3
)

10
2
4

1,108
238
228

2

1,967

4

3,801

Num­
ber

Deposits
(at sus­
pension
or call
date
prior to
closing)

Claims
allowed
(deposits
and
borrow­
ings) 2

Paid on
secured
or pre­
ferred
claims
or by
offset

Paid
on
common
claims

Loss
on
common
claims

98

$50,159

$44,503

$5,066

$30,416

$9,019

1
5
5
3
1
13
4
9
4
1
2
15
6
1
8
2
1
3
2
2
2
2
4
2
1
4

186
n.a.
1,893
219
28
2,060
708
3,017
1,806
43
972
2,080
1,623
1,569
22,114
7,059
15
722
64
467
211
290
1,660
467
167
719

232
n.a.
1,315
224
76
1,878
492
3,543
1,392
48
1,466
2,183
1,616
1,654
17,468
6,093
13
610
63
551
216
193
1,495
499
159
1,023

2
n.a.
11
15
49
184
9
381
191
9
105
175

231
n.a.
976
207
27
1,221
372
2,514
891
39
968
1,414
1,424
1,451
11,256
4,870
12
524
52
200
103
54
752
351
51
460

none
(3
)
327
2
none
473
111
647
310
none
394
593
193
74
3,705
1,224
none
14
11
298
71
18
69
56
6
425

1 See Table 19, note 1.
2 See Table 19, note 2.
*
Not available, but in 3 cases deposits were paid in full.
in Georgia and 1 in Michigan.

130
2,508
1
73
53
43
122
674
92
102
138

Deposits are also unavailable for 1 bank

Note: Due to rounding, components may not add precisely to total.




FEDERAL DEPOSIT IN SU RAN CE CORPORATION

34

rate of loss on the deposits of the banks for which liquidation informa­
tion is unavailable, the total loss to depositors in all the suspended
noninsured banks is estimated at approximately $11 million.
Table 19 gives a distribution by year, and Table 20 by State, of the
closed noninsured banks for which liquidation information is available,
showing their number, their deposits, the reported or estimated amounts
of claims allowed, payments on such claims, and loss on common claims.
The tables also show the number and deposits of these for which
liquidation information is not available. By States, the largest number
of closings occurred in Indiana and Missouri, but the State with the
largest proportion of the deposits and losses was New Jersey. Most of
the failures in these States were in 1934, and were cases of banks pre­
viously in difficulty which had reopened after the banking holiday in
1933, but proved unable to survive or could do so only after reorganiza­
tion.
Table 21 gives a classification of the failed noninsured banks accord­
ing to the percentage of claims allowed which were paid, and also ac­
cording to the percentage dividends on common claims. Of the 101 banks
for which estimates of losses are available, 33 paid creditors in full, 42
paid 70 percent or more but not all of the claims, and 26 paid less than
70 percent. Distributions of the insured banks in which the Corporation
had made disbursements, according to percentage recoveries by the Cor­
poration, are given for payoff cases on page 44 and for deposit assump­
tion cases on page 95 of the Annual Report of the Corporation for 1958.
Data for individual banks. Table 22 lists the noninsured banks closed
because of financial difficulties, with dates of suspension, amount of de­
posits, and the available information, including estimates, regarding the

T a b le 21.
of

D is t r i b u t io n o f N o n in s u r e d C o m m e r c ia l B a n k s C l o s e d B e c a u s e

F i n a n c ia l D if f ic u l t ie s , 1934-1962, b y P e r c e n t a g e o f L ia b i l i t i e s
P a id , a n d b y P e r c e n t a g e D iv i d e n d s o n C o m m o n C l a im s
Number classified by—
Percentage of liabilities
or common claims paid

Percentage
of
liabilities
paid

Percentage
dividends
on common
claims

Total number...........................................................................................

125

125

100 percent..............................................................................................
90..0—99.9 percent...................................................................................
80,.0—89.9 percent...................................................................................
70.0— 79.9 percent...................................................................................
60.0—69.9 percent...................................................................................
50.0— 59.9 percent...................................................................................
25.0— 49.9 p e rce n t.................................................................................
Under 25.0 percent..................................................................................
Not available...........................................................................................

33
20
9
13
8
9
7
2
24

33
13
10
12
12
7
12
2
24




BAN KS CLOSED BECAUSE OF FIN AN C IA L DIFFICULTIES

35

results of liquidation. Table 23 lists the eight insured banks closed be­
cause of financial difficulties without requiring disbursements by the
Corporation. Insured banks that have required disbursements by the
Corporation prior to the end of 1958 are listed in the Corporation’s an­
nual report for 1958, pages 48-53 and 98-103; and those requiring dis­
bursements in subsequent years in the succeeding annual reports.




T a b le 2 2 .

L o c a t io n , N a m e , A m o u n t o f D e p o s its , L ia b il it ie s P a id , and L oss on C om m on C l a im s , N o n in su r e d C om m e rc ia l B a n k s C losed

§>

B e ca u se o f F in a n c ia l D i f f i c u l t i e s , 1934-1962
(Items marked n.a. are not available; those marked * are estimated)

Date

Deposits
(thousands)

VL = voluntary liquidation
L = other liquidation cases
R = reorganized, reopened, or
succeeded
Liabilities

Paid on
common
claims

Loss on
common
claims

Percent
paid on
deposits
or common
claims 4

Alabama
Tuskegee: Tuskegee Institute Savings Bank.............

Feb.

4,1942

$

186

VL

Feb.

4, 1942

$

1,972 $

n.a.
n.a.
n.a.
n.a.
na..

n.a.
n.a.
n.a.
n.a.
n.a.

$

100.00%

Black Oak: Black Oak Banking Company................
Mineral Springs: Mineral Springs Exchange Co.......
Dyess: Farmers Exchange & Loan Co........................
Osceola: Commerce Banking Co.................................
Siloam Springs: College Bank and Savings C orp.. . .

Feb.
May
Nov.
Jan.
July

11,
2,
24,
2,
9,

1938
1939
1939
1940
1941

n.a.
n.a.
n.a.
n.a.
n.a.

L
R
VL
VL
L

n.a.
May 19, 1939
n.a.
n.a.
n.a.

n.a.
none*
none
none
n.a.

n.a.
100.00*
100.00
100.00
n.a.

Jan.
Aug.
Jan.
Oct.
May

25,
3,
31,
10,
5,

1937
1946
1953
1960
1961

48
147
390
1,035
273

L
L
L
L
R

1937
n.a.
Jan. 31, 1953
Oct. 10, 1960
May 15, 1961

48,000*
147,000*
545,000
298,037
276,522

48,000*
147,000*
475,000*
29,745
276,522

none*
none
70,000*
257,425*
none

100.00*
100.00
87.16*
10.36*
100.00

Oct. 20,
July 18,
Oct. 7,
Apr. 28,
Apr. 29,
July 12,
Mar. 14,
Nov. 18,
Jan. 6,
Apr. 19,

1934
1940
1947
1949
1949
1950
1952
1954
1958
1958

34
12
167
190
109
42
143
n.a.
30
420

L Oct. 20, 1934
L July 18, 1940
L Oct. 7, 1947
L Apr. 28, 1949
L Apr. 29, 1949
L July 12, 1950
L Mar. 14, 1952
L Nov. 18, 1954
L Jan. 6, 1958
L Apr. 19, 1958

31,822
n.a.
n.a.
n.a.
n.a.
42,000*
150,091
n.a.
n.a.
n.a.

27,719
n.a.
n.a.
n.a.
n.a.
42,000*
136,791*
n.a.
n.a.
n.a.

2,151*
n.a.
n.a.
n.a.
n.a.
none
none
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.
n.a.

Colorado
Denver: The Union Trust C o .6..................................
Englewood: Englewood Industrial Bank....................
Denver: Broadway Industrial State Bank 7..............
Boulder: Boulder Industrial Bank 8............................
Boulder: Commonwealth State Bank.........................

10,867

Georgia
Hillsboro: Bank of Hillsboro.......................................
Collins: Bank of Collins (private)...............................
Brooklet: Brooklet Banking Co. (private)................
Jasper: Commercial Bank (private)...........................
Blairsville: Farmers and Merchants Bank (private).
Ludowici: Long Banking Co. (private)......................
Kennesaw: Kennesaw State Bank..............................
Fort Valley: Peoples Bank (private).........................
Fitzgerald: Peoples Bank (private)............................
Valdosta: Industrial Banking Company (private). ..




1,952*
n.a.
n.a.
n.a.
n.a.
13,300
n.a.
n.a.
n.a.

92.80
n.a.
n.a.
n.a.
n.a.
100.00
100.00
n.a.
n.a.
n.a.

CORPORATION

none

230,515

INSURANCE

232,487 $

Arkansas *

DEPOSIT

Date

Paid on se­
cured or
preferred
claims or
by offset

FEDERAL

Location and title of banks
(private = unincorporated)

Liabilities paid and unpaid *

Disposition 2

Suspended (replaced
under restrictions) 1

Statenville: The Private Bank (private)....................
Boston: Jarret Bank (private).....................................
Ucilla: The Uitizens Bank (private)...........................

June
1958
Jan. 30, 1961
Sep. 24, 1962

102

74

L
L
, L

June
1958
Jan. 30, 1961
Sep. 24,1962

113
none
28
125

L
L
L
VL

June 1, 1934
Nov. 21, 1934
Mar. 26,1935
Sep. 22, 1942

485
51
84
100
424
306
80

L
VL
L
L
VL
R
L
VL
L
VL
L
VL
VL
L
L
L
L

July 25,1934
Feb. 3, 1934
Jan. 12, 1934
Mar. 31, 1934
Mar. 12, 1934
Aug. 10, 1934
Feb. 28, 1934
Feb. 15, 1934
Mar. 6, 1934
Mar. 26, 1934
June 1, 1934
Apr. 9, 1934
Apr. 10, 1934
July 19, 1935
Feb. 4,1937
June 29, 1938
Sep. 14, 1939

439,386
n.a.
84,022
89,968
415,783*
247,000*
91,929
38,120
108,154
n.a.
55,645
n.a.
n.a.
2,368
109,249
184,276
11,996

62,325
100,961
254,862
73,584*

4

n.a.
n.a.
n.a.

n.a.
n.a.
n.a.

n.a.
n.a.
n.a.

n.a.
n.a.
n.a.

n.a.
none’1
26,671
n.a.

n.a.
none1
'
none
n.a.

n.a.
n.a.
n.a.

Illinois

1937
1937
1939
1939

210

370
74

L
L
L
R

n.a.
June
1937
July
1939
Feb. 26, 1940

June
Apr.
July
Apr.
Aug.
Feb.
July
Feb.
July

1934
1935
1936
1939
1939
1951
1954
1956
1958

72
43
115
66
96
165
1,950
360
150

L
L
L
L
L
L
R
L
L

June
Apr.
July
Apr.
Aug.
Feb.
Oct.
Feb.
July

112

104
47
45
102
28
18
93
197
12

32,520
n.a.
4,978
4,753
23,792
25,555
38,120
4,576
n.a.
13,985
n.a.
n.a.
1,194
8,628
25,099
649

397,341
n.a.
72,920
47,216
192,250*
116,000*
58,284
none
58,094*
n.a.
31,259
n.a.
n.a.
1,174
92,209*
142,596*
11,347

9,525
n.a.
6,124
37,999
199,741*
131,000*
8,090
none
45,484*
n.a.
10,401
n.a.
n.a.
none
8,412*
16,581*
none

56.00*
n.a.
75.00
n.a.
n.a.
100.00
92.00*
89.00*
100.00

42,770
90,164
165,595
73,584*

18,690
10,671
81,676
none

69.57
90.00
68.60
100.00

none
3,135*
1,289*
none
46,813*
none
407,042*
116,178
72,595*

100.00
91.33
99.00
100.00
47.10
100.00
80.00
68.75
61.00

97.67
n.a.
92.25
55.29
49.00*
45.00
85.00

Iowa
Amber: Amber Savings Bank........ .............................
Rossie: Rossie Savings Bank.......................................
Dike: Dike Savings Bank............................................
Chatsworth: Chatsworth Savings Bank................... .

54

865
126
7,591

Kansas
Severance: Bank of Severance (private)....................
Codell: Codell State Bank...........................................
Scranton: Security State Bank...................................
Morganville: Bank of M organville.............................
Grinnell: Grinnell State Bank.....................................
Corbin: Corbin State Bank.........................................
Valley Center: Farmers & Merchants State B ank...
Smolan: Smolan State Bank........................................
Hoyt: Hoyt State Bank 10.......... ................................




22,
30,
27,
26,
19,
9,
19,
16,
3,

22, 1934
30, 1935
27, 1936
26, 1939
19,1939
9, 1951
4, 1954
16, 1956
3, 1958

86,820
43,961
128,866
72,580*
116,720
203,366
2,035,208
587,344
267,735*

13,279*
14,229*
28,421*
28,226*
215,574
81,594

73,541
26,597
99,156
72,580*
41,681*
203,366*
1,628,166*
255,592
113,546

DIFFICULTIES

Mar. 1,
Apr. 14,
May 2,
Aug. 30,

Indiana
Butler: Knisely Bros. & Co............................ .............
Bridgeton: Bridgeton Bank (private).........................
Cory: Citizens Bank (private).....................................
Charlottesville: Citizens Bank (private)....................
Valparaiso: Thrift Trust Co.10.....................................
Darlington: Farmers & Merchants State Bank 11___
Burket: Bank of Seward (private)..............................
Lawrence: Lawrence State Bank................................
Montmorenci: Montmorenci Bank 10..........................
Browns Valley: Browns Valley Bank (private)........
Forest: Citizens Bank (private)..................................
Elnora: Citizens Bank (private).................................
Straughn: Peoples Bank (private)..............................
Acton: Acton State Bank.............................................
New Salem: New Salem Bank (private) 10................
Macy: Citizens Bank (private) 10................................
Laurel: Laurel Bank (private)........... .........................

FINANCIAL

1934(r)
1934
1934
1934
1934(r)
1934(r)
1934
1934
1934
1934(r)
1934 (r)
1934(r)
1934.
1935
1937
1938
1939

n.a.
100.00
n.a.

O
F

Jan. 2,
Feb. 3,
Jan. 6,
Mar. 21,
Feb. 27,
Feb. 27,
Feb. 28,
Feb. 15,
Mar. 6,
Mar. 7,
Mar. 12,
Apr. 6,
Apr. 10,
July 19,
Feb. 4,
June 29,
Sep. 14,

n.a.
n.a.
59,901,894* 59,901,894*
49,362*
76,033
n.a.
n.a.

BECAUSE

1934
1934
1935
1942

CLOSED

Jan. 18,
Nov. 21,
Mar. 24,
Aug. 26,

BANKS

Grafton: Grafton State Bank......................................
Chicago: Central Republic Trust Co.9.......................
Rockford: Rockford Trust Co.....................................
Kell: Kell State Bank...................................................

T a b le 2 2 .

L o c a t io n , N a m e , A m o u n t of D e p o s it s , L ia b il it ie s P a id , and L oss on C ommon C l a im s , N o n in su r e d C o m m ercial B a n k s C losed

w

B e c a u s e o f F in a n c ia l D i f f ic u l t ie s , 1934-1962— Continued
(Items marked n.a. are not available; those marked * are estimated)
Disposition 2

suspended (r = placed

Date

Deposits
(thousands)

VL = voluntary liquidation
L = other liquidation cases
R = reorganized, reopened, or
succeeded

Paid on se­
cured or
preferred
claims or
by offset

Paid on
common
claims

Loss on
common
claims

Percent
paid on
deposits
or common
claims 4

Kentucky
Feb.
May
June
Antf.

24,
22,
5,
12

1939
1939
1939
1939

$

17
905
697
187

L Feb. 24,
L May 22,
L June 5,
L Aug. 12

1939
1939
1939
1939

$

40,522*
529,009*
633,672*
188,747*

$
$ 143,967
47,143*

33,714* $
243,599*
454,101*
159,883*

6,808*
141,443*
132,428*
28,864*

83.20%
38.10
76.20
62.00

Louisiana
........

Jan. 19, 1938

43

L

Jan. 19, 1938

47,712

8,74 5

38,969

none

100.00

Goodells: C. C. Peck & Co., Bankers (private)........
Garden C ity: Garden City State Bank......................
West Branch: The Commercial Bank of Tolfree,
Livingstone & Co. (private)....................................
Pickford: Bank of Pickford, Beacorn, Taylor, Hossacks & Co., Proprietors (private) 10.......................

Jan. 10, 1934
Jan. 3, 1934

n.a.
48

L
L

Jan. 10, 1934
May 8, 1934

n.a.
49,976*

n.a.
3,708

n.a.
46,268*

n.a.
none

n.a.
100.00

July 27, 1951

1,967

L

July 27, 1951

n.a.

n.a.

924

L

Nov. 1, 1951

1,416,235

101,426

Jan. 3, 1934
Jan. 17, 1934(r)

74
346

L
R

July 5, 1934
July 14, 1934

59,079*
365,944

Feb.
Apr.
June
June
Sep.
Nov.

288
41
267
151
144
32
180

L
L
L
L
L
L
L

Dec.
Apr.
Aug.
Jan.
Jan.
Nov.
Aug.

329,942
50,164
279,996
148,554
134,060
34,218
186,540

Montpelier: Farmers Bank..............

INSURANCE

Golden Pond: Bank of Golden P ond..........................
Louisville: Peoples Bank of Louisville 10....................
Campbellsville: Bank of Campbellsville 10.................
Covington' Southern Exchange Bank

DEPOSIT

Liabilities

Date

FEDERAL

Location and title of banks
(private = unincorporated)

Liabilities paid and unpaid *

Michigan

1, 1951

n.a.

n.a.

n.a.

921,283*

393,526*

69.00

10,000*
20,000*

19,224*
207,566*

29,855*
138,378*

39.17
60.00

11,233
8,000
15,638
9,640
8,177
2,500
10,496

285,882*
17,287*
205,750*
85,432*
96,049*
12,529*
139,163*

32,827*
24,877*
58,608*
53,482*
29,834*
19,189*
36,881*

89.70
41.00
77.83
61.50
76.30
39.50
79.05

Missouri
Hurdland: Farmers Bank of Hurdland......................
Russellville: Russellville Exchange Bank 12...............
Hermann: Farmers & Merchants State Bank of
Hermann....................................................................
Ray vilie: Bank of Rayville..........................................
Rhineland: Farmers Savings Bank.............................
McKittrick: McKittrick B ank...................................
Marionville: Citizens Bank of Marionville................
Florence: Bank of Florence.........................................
North St. Joseph: Bank of North St. Joseph............




13,
16,
11,
15,
1,
8,

1934 (r)
1934
1934(r)
1934 (r)
1934(r)
1934
1934(r)

14,
16,
27,
3,
11,
8,
26,

1934
1934
1935
1935
1935
1934
1935

CORPORATION

Nov.

M issouri (continu ed)

110

L
L
L
L
VL
L

Jan. 10,
Sep. 20,
Nov. 25,
Mar. 19,
Aug. 31,
Mar. 16,

1936
1935
1936
1937
1937
1938

228,952
74,852
46,913
75,107
57,961
110,261

90
115
70
158
44
1,146

R
VL
L
L
L
R

Mar. 5,
Jan. 8 ,
Feb. 16,
Oct. 2 1 ,
Sep. 2 1 ,
Dec. 2 1 ,

1934
1934
1934
1940
1942
1962

94,000*
94,013
50,403
162,103
69,337
1,146,364

66

45

54,564
3,000

12,014

74,987*
35,639*
12,901*
7,209*
none*
38,709*

57.00
50.40
72.50
89.00
1 0 0 .0 0 '
60.60

69,006*
48,746*
47,631
151,161*
54,083*
1,052,987

9,572

99,401*
36,213*
34,012*
58,326*
57,961*
59,538*

24,994
45,267*
2,772*
10,942*
15,254*
93,377

73.41’
51.85’
94.50
93.25
78.00
91.85

73,935

90.00

BECAUSE

209
78
49

CLOSED

July 23, 1935
Sep. 20, 1935
Nov. 25, 1936
Mar. 19, 1937
Aug. 23, 1937
Mar. 16,1938

Nebraska
Roseland: Roseland State Bank 13 ..............................
Hayland: First State Bank 14.......................................
Mullen: Citizens State Bank.......................................
Bennet: Citizens Bank of Bennet...............................
Shubert: The Citizens Bank........................................
Gresham: Gresham State Bank..................................

Jan.
Jan.
Jan.
Sep.
Sep.
Oct.

5,
8,
17,
27,
18,
20,

1934(r)
1934
1934
1940
1942
1962

New Ham pshire
Penacook: Valley Trust Company

1 5 ..........................

June 24, 1958

1,569

L

June 24, 1958

Bayonne: The Mechanics Trust Co............................
Camden: North Camden Trust Co.............................
Hawthorne: Peoples Bank of Hawthorne 16...............
Margate: Margate Trust Co........................................
Paterson: Merchants Trust Co....................................
Paterson: Security Trust Co........................................
Newton: Newton Trust Co . 17.....................................
Elizabeth: Elizabeth Trust Co . 18 ...............................

Jan. 2,
Jan. 2,
Jan. 2,
Jan. 2 ,
Jan. 2 ,
Jan. 2,
Jan. 5,
Jan. 18,

1934(r)
1934 (r)
1934(r)
1934 (r)
1934 (r)
1934 (r)
1934 (r)
1934(r)

8,607
345
742
480
357
252
2,822
8,509

L
R
R
R
L
L
R
R

June
Jan.
July
Feb.
July
July
Dec.
June

17, 1936
11, 1934
8 , 1936
10, 1934
10,1935
10, 1935
27, 1934
18, 1934

5,974,360
492,771
1,378,777*
690,705
464,064
254,486
3,132,656*
5,080,155*

42,041
147,610
353,400*
210,621
41,527
12,754
735,456*
964,355*

2,788,434
345,161
1,025,377*
420,084*
125,501
38,136
2,397,200*
4,115,800*

3,143,885*
none
none
60,000
297,036*
203,596*
none
none

2,573,600*
2,295,942*

264,529*
959,352*

47.00
1 0 0 .0 0
1 0 0 .0 0

87.50
29.00
15.00
1 0 0 .0 0
1 0 0 .0 0

New Y ork
Hudson: Hudson River Trust Company 1 9 ................
New Rochelle: Huguenot Trust Co . 2 0 ........................

Jan.
Jan.

3, 1934
2, 1934

2,941
4,118

R
R

Feb. 26, 1934
Jan. 31, 1934

Feb.

1, 1939

15

L

Feb.

412

L
L
VL

VL
L

2,838,129
3,255,294

90.68'
70.53:

N orth Dakota
Landa: First International Bank................................

1,

1939

12,690

1,123

11,567

none

Oct. 31, 1934
May 2 2 , 1934
Aug. 28, 1935

381,933*
134,077*
94,420*

43,452*
10,959*
18,758*

324,901
123,118*
75,662*

13,580*
none
none

1 0 0 .0 0
1 0 0 .0 0

Jan. 3, 1934
Jan. 24, 1938

30,024
32,750

30,024
21,615*

none
11,135*

1 0 0 .0 0
6 6 .0 0

1 0 0 .0 0

O h io
New Bremen: First City Bank (private)................... Jan. 2, 1934 (r)
Pomeroy: First City Bank (private).......................... Jan. 20, 1934 (r)
South Vienna: Farmers Deposit Bank (private). . . . Apr. 2 1 , 1934 (r)

202

108

DIFFICULTIES

1,451,350

FINANCIAL

129,281

O
F

1,654,566

New Jersey

BANKS

Salisbury: The Traders Bank......................................
Raymore: Bank of Raymore.......................................
Worth: The Bank of W orth........................................
Henley: Peoples Bank of Henley................................
Granby: State Bank of Granby..................................
Reeds Spring: Shepherd of the Hills Bank................

90.00

O klahom a
Optima: First State Bank. . .
Texola: Farmers State Bank.




Jan. 3, 1934
Jan. 24, 1938

11

53

CO
CD

T a b le 2 2 .

L o c a tio n , N am e, A m o u n t o f

D e p o s it s , L i a b i l i t i e s P a id , a n d L o s s o n
B ecau se

o f

C om m o n C la im s ,

N o n in s u r e d

C o m m e r c ia l B a n k s C lo s e d

^

0

1934-1982— Continued

F in a n c ia l D iffic u lt ie s ,

(Items marked n.a. are not available; those marked * are estimated)
Disposition

Suspended (r = placed
under restrictions) 1

Date

Deposits
(thousands)

VL = voluntary liquidsition
L = other liquidation cases
R = reorganized, reoptened, or
succeeded

Paid on se­
cured or
preferred
claims or
by offset

Paid on
common
claims

Loss on
common
claims

Percent
paid on
deposits
or common
claims 4

Liabilities

Date

$

Dec. 27, 1934
Jan. 27, 1938

Aug. 10, 1934 (r)
June 10, 1940(r)

169
42

L
L

Oct. 10, 1934
Oct. 10, 1940

163,648
52,205

June 18, 1937
Aug. 19, 1938

12

278

L
L

June 18, 1937
Aug. 23, 1938

10,041*
183,415

1936
1940
1941
1949
1949
1957
1961
1961

428
146
79
1,246
1,007
1,255
862
438

L
R
R
L
L
L
L
L

Apr. 1 ,
June 1,
Mar. 3,
May 25,
June 26,
Mar. 22,
July 17,
Sep. 27,

542,535
125,900
79,000*
n.a.
747,678
n.a.
n.a.
n.a.

Jan. 13, 1934
June 18, 1934

369
98

R
L

May 17, 1934
June 18, 1934

400,747
98,565

Jan.

167

L

Jan.

159,359

$ 169,545
381,800*

$

14,427*
38,885*

$ 33,068*
167,000

$ 122,050*
175,915*

26.00%
48.70

South Carolina
Fort Mill: Savings Bank of Fort M ill........................
Jefferson: The Jefferson Depository...........................

62.17
52.00

79,278
23,240

55,337*
15,191*

401
121,698

9,640
44,014

none
17,703

1 0 0 .0 0

365,949
18,200*

176,586
107,700*
79,000*
n.a.
388,870
n.a.
n.a.
n.a.

none
none
none
n.a.
68,893
n.a.
n.a.
n.a.

1 0 0 .0 0
1 0 0 .0 0
1 0 0 .0 0

252,191*
98,565*

56,070
none

29,033*
13,774*

Tennessee
Indian Mound: Bank of Indian M ound....................
Winchester: Home Bank & Trust Co . 21 ....................

71.32

Texas
Edinburg: American State Bank & Trust Co............
Jayton: First State Bank.............................................
Fulbright* Fulbright State Bank
....................
Eagle Pass: Viguera Banking Co. (private)..............
San. Juan: Valley State Bank......................................
Fort Worth: Fraternal Bank & Trust Co. (private) .
Zapata: Bank of Zapata (private)..............................
Benavides: Merchants Exchange Bank, Uninc.........

Apr. 1 ,
Apr. 19,
Nov. 13,
May 25,
June 26,
Mar. 22,
July 17,
Sep. 27,

1936
1940
1942
1949
1949
1957
1961
1961

n.a.
289,915
n.a.
n.a.
n.a.

n.a.
84.95
n.a.
n.a.
n.a.

Virginia
Hanover: Tri-County Bank.........................................
Keysville •Planters B a n k ...........................................

92,486*

84.35*
1 0 0 .0 0

Washington
Spokane: Lincoln Trust Co..........................................




9, 1934

9, 1934

101,819

51,245*

6,295*

70.92

CORPORATION

L
L

110

INSURANCE

357

Dec. 27, 1934
Jan. 27, 1938

DEPOSIT

Pennsyl vania
Philadelphia: M. Rosenbaum Co. (private)..............
Pine Grove: Pine Grove Bank (private)....................

FEDERAL

Location and title of banks
(private = unincorporated)

Liabilities paid and unpaid *

2

W isconsin
Abelman: Farmers State Bank...................................
St. Croix Falls: Bank of St. Croix Falls....................
Cable: Cable State Bank..............................................
Coloma: Coloma State Bank 22 ....................................

Jan. 6 , 1934
June 9, 1934
Nov. 28, 1934
Jan. 26, 1935

254
200

58
207

R
L
L
R

Jan.
June
Nov.
June

18,
9,
28,
28,

1934
1934
1934
1935

295,211
442,436
67,967
216,980

43,163
34,638
6,089
53,746

103,729
218,648
45,767
91,620

148,319*
189,150*
16,111*
71,614*

41.15*
53.62
73.50
64.00*

BECAUSE
O
F
FINANCIAL
DIFFICULTIES




CLOSED

Sources of Data: Published reports of State banking departments, correspondence with officials of State banking departments, and (for a few cases) other correspondence, news­
paper reports, or FDIC records pertaining to successor or reorganized banks.
^

BANKS

1 Date reported placed under restrictions, closed for examination, or suspending operations, with deposits as of nearest previous call date, or estimated at time of closing. Cases
dated January 2, 1934, include banks that operated December 30, 1933, but were closed prior to the opening of business on January 2, 1934.
2 Date reported placed in receivership or liquidation (for private banks, closing date), or reorganized or reopened, with liabilities (deposits and other creditors’ claims) as reported
from liquidation records. Items starred are estimated from other reported information, or given as estimates in original data.
3 From liquidation reports or information reported in connection with reopening or reorganization, with items starred estimated from other reported information or given as esti­
mates in original data. Amounts shown as paid on secured or preferred claims or by offset include only amounts reported as such, or items (such as bills payable or government de­
posits) which were presumably secured. Amounts shown as payments on common claims are reported or estimated dividends paid by receivers, including deposits made available in
reorganized banks, and also including amounts paid on secured or preferred claims, or by offset, which cannot be segregated from dividend payments on common claims.
4 Percentage paid on deposits or common claims generally refers to the percentage dividends paid, and because of payments by offset and in some cases on secured or preferred
deposits usually differs from the percentage that might be computed from the sum of the estimated payments and estimated losses on common claims. However, in some cases the
percentages are computed from estimated payments and losses. See also notes below regarding individual cases.
6 The cases in Arkansas were banking companies incorporated under the cooperative association law of 1921 and not operating under the banking code.
6 Trust company not engaged in deposit banking, with deposits consisting of trust funds.
7 Deposits of $390,000 paid in full; approximately $80,000 remained available for creditors’ lien of $155,000.
8 As of latest statement available. Liabilities exclude deposit claims not allowed, estimated at $737,293.
9 Excluded from Tables 15-21. Liabilities figure is described as bills payable and represents remaining portion of $90 million borrowed from the Reconstruction Finance Corpora­
tion in 1932.
10 As of latest statement available, adjusted to assume additional payments on common claims equal to reported amount of cash on hand.
11 55 percent of deposits trusteed, and some additional recovery may have been received.
12 60 percent of deposits assumed by new bank, but unacceptable assets trusteed and may have yielded something.
13 40 percent of restricted deposits waived.
14 Remaining assets liquidated for benefit of stockholders’ deposits and may have yielded something.
15 As of latest statement available. Amount given as paid on common claims includes savings deposits, which were paid in full. Estimated loss on common claims, and percent
paid on such claims, refer to deposits and other creditors’ claims in the commercial department.
16 Holders of 75 percent of restricted deposits waived their claims and were given preferred stock, the last of which was retired in 1958.
17 December 1934 depositors received $1,078,740 in 4j^ percent preferred stock in exchange for waiver of 45 percent of deposits (excluding those secured, preferred, or offset). Stock
retired by February 1947.
18 50 percent available immediately and 50 percent in class B preferred stock which was retired in 1948.
19 Certificates of beneficial interest issued in 1934 for deposits not made available at time of organization, amounting to $884,674, were reduced by dividends to $614,529. On
June 30, 1937, holders of these certificates exchanged them for common stock having a par value of $175,000 and a book value of approximately $250,000. In 1952, deposit liabilities
were assumed by another bank, and Hudson River Trust Company entered voluntary liquidation, “ having sufficient funds for the payment of all shareholders in full” . Assumption
made that stockholders received $350,000, the amount of capital and surplus.
20 Certificates of beneficial interest issued in 1934 for deposits not made available at time of reorganization, amounting to $1,208,958, were exchanged in 1937 for common stock.
In 1952, bank merged with New Rochelle Trust Company, with Huguenot stockholders receiving stock in that company with book value of approximately $249,606 (excluding stock
received for additional purchases of Huguenot stock).
21 Excluding insured deposits paid by FDIC. Deposits in this bank had been insured by FDIC from Jan. 1 , 1934, to April 1 , 1938, when insured status was terminated because
bank continued to engage in unsafe or unsound practices. Insured deposits in the bank on that date less all subsequent withdrawals were insured at date of suspension. Total deposits
on date of suspension were $277,955, of which $159,717 were insured and paid by FDIC. Bank had other liabilities (mostly secured) of $65,177.
22 One-half of deposits remaining after payment of stockholders’ assessment were waived; however, certain assets were trusteed for benefit of waiving depositors and may have
yielded something.

to

Table 23.

I n s u r e d B a n k s C lo s e d B e c a u s e o f F in a n c ia l D if f ic u l t ie s W it h o u t D is b u r s e m e n t s b y

Date closed

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 , 1934-1962

Location

Name

Disposition

Oklahoma: Mountain Park.

Planters State Bank...............................

85

Reopened April 26, 1935

April 30, 1937. . . .

Kentucky: Hartford............

Hartford Deposit Bank..........................

206

Reopened May 17, 1937

July 23, 1937.......

Tennessee: Gadsden............

Peoples Exchange Bank.........................

122

Deposit liabilities assumed by Bank of Crockett,
Bells, August 3, 1937

July 30, 1949.......

Oregon: Monmouth.

First National Bank of Monmouth

1,190

Deposit liabilities assumed by The United States
National Bank of Portland, July 30, 1949

Illinois: Chicago.........

Devon North Town State Bank...........

19,413

Reopened May 28, 1953

April

Illinois: Chicago.........

West Irving State Bank of Chicago. . . .

7,036

Reopened April 20, 1953

June 20, 1957___

Texas: Del R io ...........

Del Rio National Bank..........................

10,084

February 19, 1962

Pennsylvania: Exeter.

The First National Bank of Exeter. . . .

3,011

11,

1953




Reopened July 3, 1957
Deposit liabilities assumed by The Wyoming
National Bank of Wilkes-Barre, February 26,
1962

CORPORATION

April 11, 1953___

INSURANCE

April 10, 1935.. . .

DEPOSIT

Deposits
(in
thousands)

FEDERAL

the

PART THREE
LEGISLATION AND REGULATIONS







Fe d e r a l L e g is l a t io n
N o Federal legislation directly affecting federal deposit insurance or insured
banks, by virtue of their insured status, was enacted by the Congress during 1963.

R u le s a n d R e g u la t io n s o f t h e C o r p o r a tio n
title

12— b a n k s a n d b a n k in g

c h a p t e r III— f e d e r a l d e p o s i t in s u r a n c e
CORPORATION
P a r t 329— P a y m e n t o f D e p o s its a n d I n t e r e s t T h e r e o n
B y In su red N onm em ber B anks

Effective July 17, 1963, § 329.6 of the Rules and Regulations of the Federal
Deposit Insurance Corporation (12 CFR 329.6) is amended to read as follows:
§ 329.6 Maximum rates1 of interest payable on time and savings deposits by
3
insured nonmember banks— (a) Maximum rate of 4 percent. N o insured non­
member bank shall pay interest accruing at a rate in excess of 4 percent per annum,
compounded quarterly,1 regardless of the basis upon which such interest may be
8
computed:
(1) On that portion of any savings deposit that has remained on deposit for
not less than 12 months,
(2) On any time deposit having a maturity date 90 days or more after the
date of deposit or payable upon written notice of 90 days or more,
(3) On that portion of any postal savings deposit which constitutes a time
deposit that has remained on deposit for not less than 12 months.
(b) Maximum rate of SY2 percent. No insured nonmember bank shall pay in­
terest accruing at a rate in excess of ZV2 percent per annum, compounded quar­
terly,1 regardless of the basis upon which such interest may be computed:
8
(1) On any savings deposit, except as otherwise provided in paragraph (a)(1)
of this section.
(2) On any postal savings deposit which constitutes a time deposit, except as
otherwise provided in paragraph (a)(3) of this section.
(c) Maximum rate of 1 percent. N o insured nonmember bank shall pay interest
accruing at a rate in excess of 1 percent per annum, compounded quarterly,1
3
regardless of the basis upon which such interest may be computed, on any time
deposit (except postal savings deposits which constitute time deposits) having a
maturity date less than 90 days after the date of deposit or payable upon written
notice of less than 90 days. (Sec. 9, 64 Stat. 881; 12 U.S.C. 1819.) [Interprets or
applies Sec. 18, 64 Stat. 891; 12 U.S.C. 1828.1
[F.R . Doc. 63-7725; Filed, July 19, 1963 ; 8:59 a m .; 28 F.R. 7423]

P a r t 3 3 4 — B a n k Se r v ic e A r r a n g e m e n t s
Sec.
334.1 Authority and scope.
3 3 4 .2

Form of assurances.

334.3 Time for furnishing assurances.
334.4 Special situations.
12
The maximum rates of interest payable by insured nonmember banks on time and savings deposits
as prescribed herein are not applicable to any deposit which is payable only at an office of an insured
nonmember bank located outside of the States of the United States and the District of Columbia.
This limitation is not to be interpreted as preventing the compounding of interest at other than
quarterly intervals: Provided, That the aggregate amount of such interest so compounded does not exceed
the aggregate amount of interest at the rate above prescribed when compounded quarterly.




45

46

FEDERAL DEPOSIT IN SU RANCE

CORPORATION

§ 334.1 Authority and .scope. This Part implements the provisions of section 5
of the Bank Service Corporation Act, Public Law 87-856, approved October 23,
1962 (76 Stat. 1132), in the application thereof to arrangements for the performance
of bank services for insured State nonmember banks. Under this section of the
Act, no insured State nonmember bank may cause to be performed, by contract
or otherwise, any bank services for itself, whether on or off its premises, unless
assurances satisfactory to the Board of Directors of the Federal Deposit Insurance
Corporation are furnished to the Board of Directors by both the bank and the
party performing such services that the performance thereof will be subject to
regulation and examination by the Board of Directors to the same extent as if
such services were being performed by the bank itself on its own premises. Such
assurances are required by the Act whether the bank services are performed by
bank service corporations in which the Act authorizes banks to invest, or by others.
Under section 1(b) of the Act, the term “bank services” means services such as
check and deposit sorting and posting, computation and posting of interest and
other credits and charges, preparation and mailing of checks, statements, notices,
and similar items, or other clerical, bookkeeping, accounting, statistical, or similar
functions performed for a bank.
§ 334.2 Form of assurances. Unless additional or different assurances are con*
sidered necessary by the Board of Directors in specific cases, the assurances re­
ferred to in section 334.1 of this Part may be submitted in the form of a letter
(or separate letters) signed by a duly authorized officer of the insured State non­
member bank and by the party (or a duly authorized officer or representative of
such party) that will perform the services for the bank, stating, in substance,
that the bank and the party performing such services have entered into an agree­
ment that the performance of the services will be subject to regulation and ex­
amination by the Board of Directors to the same extent as if such services were
being performed by the bank itself on its own premises. All such letters of assur­
ances shall be addressed to the Supervising Examiner of the Corporation for the
Federal Deposit Insurance Corporation District in which the insured State non­
member bank has its main office.
§ 334.3 Time for furnishing assurances. As to any arrangement for the performance
of bank services entered into or renewed after the effective date of this Part, as­
surances complying with section 334.2 shall be furnished prior to the performance
of any services for the bank under the bank service arrangement. With respect to
any bank service arrangement entered into prior to the effective date of this Part,
such assurances shall be furnished within 30 days after the effective date of this
Part, unless a letter of assurances covering such bank service arrangement has
been furnished previously pursuant to the Board of Directors’ “Statement for
State Nonmember Insured Banks on the ‘Bank Service Corporation Act’ ” issued
October 24, 1962.
§ 334.4 Special situations. Assurances complying with section 334.2 need not be
furnished in connection with arrangements for bank services which are immediately
necessary because of emergency conditions or situations, or are required for short
periods of time due to unusually heavy work demands, if the insured State non­
member bank promptly advises the Supervising Examiner of the Corporation of its
District of the circumstances involved and of the length of time during which any
of the bank’s books or records or any banking media will be removed from the
bank’s premises and of the location thereof, and unless the bank is advised by the
Supervising Examiner that such assurances must be furnished. Unless specifically
requested by the Board of Directors, assurances complying with section 334.2 need
not be furnished in connection with any arrangement by an insured State nonmember bank for the performance of legal, advisory, and administrative services.




RULES AND REGULATIONS OF T H E CORPORATION

47

such as transportation or guard services. (Sec. 9. 64 Stat. 881; 12 USC 1819: 76
Stat. 1133; 12 USC 1865.)
[F.R. Doc. 63-3449; Filed, April 2, 1963; 8:47 a.m.; 28 F.R. 3201]

St a t e Ba n

k in g

Le g is l a t io n

In 1963, the legislatures of forty-seven states held regular sessions. Ten of these
legislatures also held special sessions. Some of the more important state banking
legislation enacted in 1963 is summarized below.

SUPERVISORY AUTHORITY

Bank examination fees................................... Arizona (Ch. 98 ); Florida (Ch. 182, 254);
.....................................................................Hawaii (Act 43); Minnesota (Ch. 153, 204);
.....................................................................Missouri (H.B. 451); New Mexico (Ch. 110);
..................................................................................South Dakota (Ch. 22 ); Utah (Ch. 7)
Fees and charges of Division of Banking.................................................... Ohio (H.B. 947)
Reports to Superintendent of Banks........................................................ Arizona (Ch. 82)
Disclosure of information by Banking Department...................Michigan (P.A. 115)
Powers of Bank Commissioner............................................................ Minnesota (Ch. 153)
Salaries of Commissioner and employees..................................................................................
........................................................................... Missouri (H.B. 450); Nebraska (Ch. 503)
Bank Advisory Board...................................................................New Hampshire (Ch. 217)
Report of Superintendent of Banks.......................................................... Oregon (Ch. 195)
Record of branches............................................................................. Pennsylvania (Act 413)
Bank examiners.................................................................................................... Texas (Ch. 81)
Bank Commissioner and examiners...................................................................Utah (Ch. 7)
ORGANIZATION AND CHARTER CHANGE

Branch offices, agencies and facilities...................Alabama (H.B. 4-x, 107-xx, 30, 942,
................................................................................. S.B. 13-xx, 425); Arkansas (Act 544);
................................................................................. Georgia (Act 465); Idaho (Ch. 180);
................................................................................. Indiana (Ch. 350); Maine (Ch. 162);
.................................................................Montana (Ch. 39 ); New Hampshire (Ch. 188);
............................................................ New York (Ch. 644); North Carolina (Ch. 793);
.................................................................North Dakota (Ch. 96, 97 ); Oregon (Ch. 195);
.................................................................................................. Texas (Ch. 81); Utah (Ch. 7)
Organization and license fees............................... Arizona (Ch. 98 ); Florida (Ch. 181)
Capital and surplus requirements..................................................................................................
............................................Arizona (Ch. 8 2 ); Oregon (Ch. 195); Tennessee (Ch. 78)
Change of location................................... Georgia (Act 439, 440); New Jersey (Ch. 88)
Permit to commence business.................................................................Georgia (Act 416)
Par value of bank stock............................... Indiana (Ch. 6 ) ; Missouri (S.B. 201, 202)
Capital, surplus and par value of stock................................................Montana (Ch. 45)
Industrial bank capital......................................................................................Maine (Ch. 83)
Incorporation of banks and trust companies...................New Hampshire (Ch. 267);
...................................................... North Carolina (Ch. 793); North Dakota (Ch. 9 3 );
.................................................. South Dakota (Ch. 23); Texas (Ch. 81 ); Utah (Ch. 7)
Issuance of capital debentures.....................................................................Oregon (Ch. 195)
Bank conversions, consolidations, mergers and purchases of assets...............................
................................................................................. New York (Ch. 489); Ohio (H.B. 225)
Temporary change of location .
. New York (Ch. 22)




48

FEDERAL DEPOSIT INSURANCE CORPORATION

Trust company consolidations or mergers............................................Georgia (Act 422)
Savings bank mergers......................................................................................Maine (Ch. 162)
Bank mergers.................................................................................................. Vermont (Ch. 174)
Conversion of savings banks into banks or trust companies.......... Indiana (Ch. 240)
Articles of incorporation, consolidation, merger or conversion........................................
............................................................................................................... Pennsylvania (Act 413)
Capital, change of name, powers and merger of banks and trust companies...............
........................................................................................Connecticut (P.A. 74, 194, 251, 335)
Incorporation and charter amendments.............................................. Wyoming (Ch. 160)
Federal Deposit Insurance membership___ Michigan (P.A. 134); Nebraska (Ch. 31)
GENERAL OPERATING PROVISIONS

Retention, preservation and destruction of bank records. .Connecticut (P.A. 315);
......................................................................... Missouri (H .B. 90 ); Pennsylvania (Act 33)
Borrowing by banks............................... Arizona (Ch. 82 ); West Virginia (Ch. 42, 130)
Borrowing by savings banks.....................................................................Delaware (H.B. 78)
Transfers of bank stock............................................................................. Arkansas (Act 519)
Receipts for bank stock certificates........................................................ Georgia (Act 438)
Banking hours and days............................................................................... Indiana (Ch. 363)
Bank service corporations and bank investments in and use thereof...........................
................................................................................. Colorado (Ch. 69 ); Florida (Ch. 113);
......................................................................................Idaho (Ch. 62 ); Indiana (Ch. 359);
......................................................................................Kansas (S.B. 351); Maine (Ch. 15);
.................................................................Minnesota (Ch. 140); Missouri (S.B. 196, 197);
......................................................................... North Dakota (Ch. 98 ); Oregon (Ch. 500);
..................................................................... South Dakota (Ch. 2 9 ); Tennessee (Ch. 6 6 );
..........................................................................................Utah (Ch. 7 ) ; Vermont (Ch. 9 4 );
.............................................................Washington (Ch. 194); West Virginia (Ch. 17);
........................................................................... Wisconsin (Ch. 168); Wyoming (Ch. 113)
Bank and trust company dividends.. .California (Ch. 714); Connecticut (P.A. 74 );
.................................................................................................................Pennsylvania (Act 413)
Stockholders’ meetings............................................................................. New York (Ch. 161)
Stockholders’ lists............................... Indiana (Ch. 211); West Virginia (Ch. 41, 127)
Savings bank dividends............................................Maine (Ch. 162); Oregon (Ch. 409)
Distribution of cooperative bank profits................................... Massachusetts (Ch. 122)
Jointly held safe deposit boxes...................................................................Florida (Ch. 110)
Release of property subject to inheritance tax.....................................................................
......................................................................... Colorado (Ch. 281); Michigan (P.A. 100)
Bank sale of money orders............................................................................. Ohio (H .B. 225)
Uniform Commercial Code........................... California (Ch. 819); Indiana (Ch. 317);
............................................................................... Maine (Ch. 362); Maryland (Ch. 538);
................................................................................. Missouri (S.B. 2 ) ; Montana (Ch. 264);
......................................................................... Nebraska (Ch. 544); Tennessee (Ch. 8 1 );
.................................................................West Virginia (Ch. 193); Wisconsin (Ch. 158)
Amendments to Uniform Commercial Code............................................Alaska (Ch. 11);
.....................................................................Connecticut (P.A. 526); Georgia (Act 158);
.............................................................Massachusetts (Ch. 188); New Jersey (A.B. 733);
..................................................................................New York (Ch. 1003); Ohio (S.B. 3 5 );
.................................................................Oregon (Ch. 370, 402); Pennsylvania (Act 510)

Deposits of public funds.......................Florida (Ch. 112, 114, 341); Hawaii (Act 69 );
........................................Idaho (Ch. 72, 100); Illinois (S.B. 475, 668, 680, H.B. 1662);




STATE BANKING LEGISLATION

49

Deposits of public funds— continued
............................................................................... Indiana (Ch. 142); Louisiana (S.B. 30);
..................................................................... Minnesota (Ch. 511); Montana (Ch. 35, 40);
............................................................................... New York (Ch. 346); Ohio (H.B. 766);
............................................................................. Oklahoma (Ch. 223); Oregon (Ch. 507);
.................................................................................................................South Dakota (Ch. 25)
Deposits in trust in savings banks and departments.............. Connecticut (P.A. 417)
Deposits in other banks by savings banks and departments............................................
........................................................ Connecticut (P.A. 88 ); New Hampshire (Ch. 175)
Joint deposit accounts. .. Florida (Ch. 472); Maine (Ch. 328); Wyoming (Ch. 151)
Limits on amounts of savings deposits........................... Massachusetts (Ch. 253, 376)
Limits on ownership of cooperative bank shares...................Massachusetts (Ch. 255)
Deposits by minors........................................................................................Nebraska (Ch. 27)
Inducements for opening savings accounts........................................Nebraska (Ch. 280)
Interest on deposits............................................................................. Pennsylvania (Act 413)
Limit on time to question statements of accounts...................South Dakota (Ch. 28)
Verification of savings deposits...............................................................Vermont (Ch. 202)

LOANS

Loan limits and requirements....................... Arizona (Ch. 8 2 ) ; California (Ch. 8 2 4 );
........................................................................... Colorado (Ch. 6 9 ) ; Michigan (P.A. 115 );
.......................................................................Missouri (S.B. 194, 1 9 5 ); Oregon (Ch. 5 0 2 );
...............................................................................................................South Dakota (Ch. 27)
Real estate mortgage loans............................... Idaho (Ch. 6 6 ) ; New Jersey (Ch. 9 5 ) ;
.................................................................New York (Ch. 3 8 9 ); North Dakota (Ch. 9 5 ) ;
......................................................................... Ohio (H.B. 2 2 5 ); Pennsylvania (Act 4 1 3 );
......................................................................... Rhode Island (Ch. 1 2 4 ); Texas (Ch. 8 1 ) ;
......................................................................... Vermont (Ch. 75, 8 2 ) ; Wyoming (Ch. 89)
Interest rates on loans......................................Illinois (S.B. 8 0 8 ); Maryland (Ch. 8 7 1 );
.....................................................................Nebraska (Ch. 2 7 2 ); West Virginia (Ch. 210)
Interest on instalment loans.............. Minnesota (Ch. 5 7 7 ); North Dakota (Ch. 125)
Loan restrictions and charges...............................................................Minnesota (Ch. 153)
Mortgage loans by savings banks and departments. . .Connecticut (P.A. 70, 94, 119)
Mortgage loans by banks and trust companies...........................Connecticut (P.A. 193)
Mortgages securing future advances........................................................ Florida (Ch. 212)
Savings bank home improvement loans......................................................................................
.............................................................Connecticut (P.A. 61, 1 1 1 ); New York (Ch. 792)
Home improvement loans...........................Illinois (S.B. 8 0 4 ); Pennsylvania (Act 464)
Nondepartmental bank real estate loan limits............................... California (Ch. 712)
Consumer instalment loans.......................Illinois (S.B. 8 0 9 ); Pennsylvania (Act 378)
Savings bank loans........................................................................... Maine (Ch. 84, 111, 162 );
........................................................ Massachusetts (Ch. 268, 269, 272, 273, 301, 341, 353)
Cooperative bank loans...............Massachusetts (Ch. 91, 100, 101, 124, 126, 146, 279)
Cooperative bank, savings bank and trust company loans................................................
...................................................................................................... Massachusetts (Ch. 277, 325)
Savings bank loans on collateral security..................................... New Jersey (Ch. 104)
Loans secured by stock of other corporations....................................... Oregon (Ch. 195)
Guaranteed student loans............................... Louisiana (S.B. 6 1 ) ; Maryland (Ch. 589)
Student loans to minors............................................................................... Missouri (S.B. 58)
Student loans............................................New Jersey (Ch. 6 0 ) ; Rhode Island (Ch. 125)
Authorizing loans permissible for national banks........................... Maryland (Ch. 293)
Discount of commercial or business paper............................... Pennsylvania (Act 413)




50

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

INVESTMENTS

Investment in corporations in international and foreign banking....................................
...............................................................California (Ch. 2036); Massachusetts (Ch. 143)
Investment in bank premises.....................................................................Georgia (Act 417)
Real and tangible personal property........................................................ Oregon (Ch. 502)
Stock of other corporations......................................................................... Oregon (Ch. 195)
Savings bank investments...............................................................................................................
........................................California (Ch. 476); Connecticut (P A . 65, 85, 86, 87, 140);
.................................................... Maine (Ch. 162); New Hampshire (Ch. 44, 144, 326);
.................................................... New Jersey (Ch. 83, 105); Oregon (Ch. 393, 407, 408);
...................................................................................................... Pennsylvania (Act 423, 425)
Savings bank investment in bankers’ acceptances....................... New York (Ch. 141)
Bank and trust company investment in bankers’ acceptances........................................
................................................................................................................. Connecticut (P.A. 308)
Legal investments for banks.......................Iowa (Ch. 166, 311); Minnesota (Ch. 153)
Authorizing investments permissible for national banks.............. Colorado (Ch. 69)

reserves

Reserve agents................................................................................................ Arkansas (Act 154)
Reserve depositories and amount of reserves........................................Oregon (Ch. 195)
Savings bank reserves...................................................................New Hampshire (Ch. 326)
Reserve requirements........................................Arizona (Ch. 8 2 ); Minnesota (Ch. 153);
......................................................................... Missouri (S.B. 245, 246); Nevada (Ch. 90 );
.................................................................New York (Ch. 144); Rhode Island (Ch. 126);
................................................................................. South Dakota (Ch. 26 ); Utah (Ch. 7 );
...................................................................................................................Washington (Ch. 194)
Nonmember bank reserve requirements...................................................... Idaho (Ch. 71)
Commercial bank reserves...............................................................Massachusetts (Ch. 225)

TRUST ACTIVITIES

Investment of trust funds.................................................................Connecticut (P.A. 218);
...................................................... Indiana (Ch. 356, 398); North Dakota (Ch. 99, 100)
Guardianship investments by banks............................................................ Idaho (Ch. 303)
Trust powers and duties......................................................................... Minnesota (Ch. 153)
Common trust funds............................... Colorado (Ch. 278); Connecticut (P.A. 398);
.................................................................Illinois (H.B. 1292); Massachusetts (Ch. 392);
.....................................................................New Jersey (Ch. I l l ) ; New York (Ch. 301);
................................................................................. Ohio (S.B. 247); Oregon (Ch. 56, 305);
.............................................................Pennsylvania (Act 412); Rhode Island (Ch. 123);
......................................................................................Utah (Ch. 138); Vermont (Ch. 208)
Testamentary additions to trusts........................................................ Arkansas (Act 483);
......................................................................... Connecticut (P.A. 558); Idaho (Ch. 182);
......................................................................... Maine (Ch. 34); Massachusetts (Ch. 418);
.....................................................................Minnesota (Ch. 13); South Dakota (Ch. 440)
Foreign corporate fiduciaries...................Illinios (H.B. 1582); Pennsylvania (Act 70)
Transaction of trust business by national banks....................................Oregon (Ch. 55)
Savings bank acting as fiduciary............................................Pennsylvania (Act 424, 426)
Bond of bank serving as guardian.............................................................Nevada (Ch. 87)
Separate trust records and fu n d s.. . . .................................................... Kansas (S.B. 350)
New probate code.................................................................................................. Iowa (Ch. 326)




STATE B A N K IN G LEGISLATION

51

Corporate fiduciary advertising concerning services of attorneys
....................................................................................................................... Maryland (Ch. 487)
Charitable contributions by certain fiduciaries............................. Delaware (H.B. 467)
Investing guardianship funds in time and savings deposits.............. Florida (Ch. I l l )
Mortgage funds............................................................................. ...Pennsylvania (Act 119)
Powers of fiduciaries................................................................................. Tennessee (Ch. 110)
Transfer of securities..........................................................................................Texas (Ch. 37)
Banks as trustees of trust deeds..................................................................... Utah (Ch. 110)
Uniform Principal and Income A c t.............................................................Idaho (Ch. 187)
CHECKS

AND COLLECTIONS

Definitions of inland and foreign bills of exchange........................... Delaware (S.B. 85)
Payment of checks..........................................................................................Hawaii (Act 119)
Payment and return of checks.....................................................................Florida (Ch. 323)
Collection of negotiable instruments................................................ New York (Ch. 487)
Bad check law................................................ California (Ch. 1448); Kansas (S.B. 172);
............................................................................. Maryland (Ch. 497); Missouri (S.B. 66 );
..................................................................... Nevada (Ch. 272); New Mexico (Ch. 315);
......................................................................... Oklahoma (Ch. 127); Tennessee (Ch. 238);
............................................................................. Texas (Ch. 268); West Virginia (Ch. 35)
Presentment of negotiable instruments by banks........................... Delaware (S.B. 8 4 );
................................................................................. Florida (Ch. 109); Kansas (S.B. 352);
.....................................................................Maryland (Ch. 292); Minnesota (Ch. 301);
........................................................ New Hampshire (Ch. 191); Washington (Ch. 194)
DIRECTORS, TRUSTEES, OFFICERS AND EMPLOYEES

Number of directors and filling vacancies................................... Connecticut (P A . 35)
Loans to directors, officers and employees.......... Florida (Ch. 322); Idaho (Ch. 96 );
......................................................................... Oregon (Ch. 502); Pennsylvania (Act 85)
Number of directors............................................................................. Pennsylvania (Act 87)
Number, qualifications and duties of directors............................... Wyoming (Ch. 161)
Qualifications of trust company directors................................................ Maine (Ch. 404)
Election or appointment of officers................................................South Dakota (Ch. 24)
Resignation of officers................................................................................... Oregon (Ch. 195)
School board member serving bank where school funds are deposited...........................
......................................................................................................................... Michigan (P.A. 31)
Stock options and profit-sharing.....................New York (Ch. 885); Ohio (S.B. 233);
...................................................................................................................Pennsylvania (Act 88)
Savings bank employees benefit plans................................................ New York (Ch. 88)
Directors’ examinations....................................................................................Ohio (H.B. 225)
Directors’ meetings and minutes........................................................ Oregon (Ch. 166, 195)
MISCELLANEOUS

Comprehensive revision of banking laws.................................................................................
......................................................................... Nebraska (Ch. 29 ); New Mexico (Ch. 305)
Comprehensive revision of savings bank laws........................... Washington (Ch. 176)
Taxation of banks............................................California (Ch. 1428); Kansas (S.B. 437);
...................................................................................................................Washington (Ch. 136)
Franchise tax.............................................................................................. New York (Ch. 118)
Savings bank life insurance............................................Connecticut (P A . 489, S A . 214)




52

FEDERAL DEPOSIT IN SU RANCE CORPORATION

Bank holding companies.....................Nebraska (Ch. 26 ); New Hampshire (Ch. 188);
............................................................................. New York (Ch. 2 1 ); Oklahoma (Ch. 17)
Affiliation with securities companies................................................ New York (Ch. 286)
Branches of foreign banking corporations................................... New York (Ch. 24, 98)
Unclaimed property................................... Connecticut (P A . 580); Illinois (S.B. 904)
Foreign bank doing banking or trust business in state...............Maryland (Ch. 580)
Attachment and execution against sums due from banks....................................................
.................................................................................................... Connecticut (P.A. 580, 1080)
False statements to obtain credit........................................................ Minnesota (Ch. 536)
Discrimination between state and national banks....................................Texas (Ch. 81)
Powers of private banks.....................................................................Pennsylvania (Act 413)
Encroachment on powers of banks.................................................... New York (Ch. 687)
Business development corporations.............. Iowa (Ch. 290); Michigan (P.A. 117);
.....................................................................Missouri (S.B. 224); Pennsylvania (Act 404);
...................................................................................................................Washington (Ch. 162)







PART FOUR
BANKING DEVELOPMENTS




S u p e r v is o r y S t a t u s

of

B anks

Banks operating in the United States are subject to supervision by
State banking authorities, Federal bank supervisory agencies, and, in
some cases, by both. Under existing Federal law all banks of deposit in
the United States are required to be subjected to examination and regu­
lation under the laws of the United States, or subjected to examination
and regulation (or to submit to such examination and to publication of
reports of condition) by the banking authority of the State, Territory,
or District in which the bank is located.1
Table 24.

C l a s s if ic a t io n o f B a n k s A c c o r d in g t o S u p e r v i s o r y S t a t u s a n d

F e d e r a l D e p o s it I n s u r a n c e P a r t ic ip a t i o n , D e c e m b e r 31, 1963
Commercial banks
and trust
companies 1

All banks
Supervisory status
Total
Number of banks and trust
companies—total........
Banks of deposit.............
Examined by and report­
ing to : 2
Comptroller of the
Currency 3 ...................
State authorities and
Federal Reserve
banks 4 .........................
State authorities and
Federal Deposit In­
surance Corporation 5.
State authorities only 6. .
Trust
companies
not
regularly engaged in
deposit banking 7........
Percentage insured and
noninsured:
All banks and trust com­
panies ..............................
Banks of deposit................
Trust companies not regu­
larly engaged in deposit
banking...........................

Insured

Non­
insured

Insured

Non­
insured

Mutual
savings
banks
Insured

Noninsured

14,092

13,621

471

13,291

291

330

180

14,043

13,621

422

13,291

242

330

180

4,622

4,622

4,622

1,488

1,488

1,488

7,511
422

7,511
422

49

1 0 0 .0
1 0 0 .0

%

7,181
422

49

96.7%
97.0

1 0 0 .0

3.3%
3.0
1 0 0 .0

330
180

49

97.9%
98.2

2 .1 %
1 .8

64.7%
64.7

35.3%
35.3

1 0 0 .0

1 Includes stock savings banks.
2 Classification relates to regular examination and periodic submission of reports of condition (assets
and liabilities).
3 Includes all national banks and 7 nonnational banks in the District of Columbia; of the latter, 4
are members of the Federal Reserve System.
4 Includes all State banks that are members of the Federal Reserve System except 4 commercial
banks in the District of Columbia and 1 noninsured trust company.
5 Includes all insured banks not members of the Federal Reserve System except 3 in the District
of Columbia.
6 Includes 17 branches of foreign banks located in 3 States, Puerto Rico and the Virgin Islands.
Financial statements from 13 branches of foreign banks are not available to the Federal Deposit Insurance
Corporation. Also includes 75 unincorporated banks located in 7 States. Unincorporated banks in 3 of
these States (Georgia, Iowa, and Texas) are not examined by the State authorities, and do not submit
detailed periodic condition reports to the State authorities. Financial statements of 4 unincorporated
banks were not available to the Corporation at the close of 1963.
7 Subject to supervision by State authorities only, except for 1 which is a member of the Federal
Reserve System but not insured by the Corporation. Excludes institutions chartered under banking or
trust company laws, but operating as investment or title insurance companies and not engaged in deposit
banking nor fiduciary activities.

1

United States Code, Title 12, Section 378.




55

56

FEDERAL DEPOSIT INSURANCE CORPORATION

Each State has its own statutes pertaining to the chartering, super­
vision, and operations of State banks. Federal laws contain similar pro­
visions applicable to national banks. State banks are also subject to
Federal supervision if they are members of the Federal Reserve System
or participate in Federal deposit insurance.
Table 25.
and

A s s e t s o f B a n k s C l a s s if ie d A c c o r d in g t o S u p e r v i s o r y S t a t u s

F e d e r a l D e p o s it I n s u r a n c e P a r t ic ip a t i o n , D e c e m b e r 20, 1963
Commercial banks
and trust
companies

All banks
Supervisory status

Mutual
savings
banks

1

Total

Insured

Non­
insured

Insured

Non­
insured

Insured

Non­
insured

Assets of banks and
trust companies (in
millions)— total........... $363,678 $354,810 $ 8,868 $311,791 $ 2,265 $43,019 $ 6,603
Banks of deposit............. 363,408
Examined by and report­
ing to:
Comptroller of the
Currency..................... 171,183
State authorities and
Federal Reserve banks. 90,502
State authorities and
Federal Deposit In­
surance Corporation. . 93,125
8,598
State authorities only. . .
Trust companies not
regularly engaged in
deposit banking..........

1

1 0 0 .0
1 0 0 .0

1 0 0 .0

%

8,598

311,791

171,183

1,995

43,019

6,603

171,183

90,502

90,502

93,125
8,598

270

Percentage in insured and
noninsured banks:
All banks and trust comBanks of deposit................
Trust companies not regu­
larly engaged in deposit
banking .........................

354,810

50,106

270

97.6%
97.6

2.4%
2.4
1 0 0 .0

43,019
1,995

6,603

270

99.3%
99.4

0.7%
0 .6

86.7%
86.7

13.3%
13.3

1 0 0 .0

See notes to Table 24.

Note: Due to rounding, components may not add to total.

Number of banks classified by supervisory status. Approximately
one-third of the 14,092 banks and trust companies operating in the
United States at the close of 1963 are examined by and report to the
Comptroller of the Currency. These consist of the 4,615 national banks
operating in the United States, and 7 nonnational banks located in the
District of Columbia.
Of the 9,470 banks subject to State regulation, 1,488 banks of deposit
and 1 nondeposit trust company are members of the Federal Reserve
System. These institutions are also examined by, and submit reports to,
the Federal Reserve Bank of the district in which they are located.
More than one-half of the banks in the United States are State banks
not members of the Federal Reserve System which participate in Federal
deposit insurance. These 7,511 banks of deposit are examined by and




57

SUPERVISORY STATUS OF B A N K S

submit reports to the Federal Deposit Insurance Corporation. The
remaining institutions, which are required by Federal law to submit to
examination by State authorities, consist of 422 banks of deposit and
48 trust companies not regularly engaged in deposit banking.
Table 24 shows the banks operating December 31, 1963, classified by
supervisory status and by participation in Federal deposit insurance.
Assets, deposits, and capital of banks classified according to
supervisory status. Assets of all banks in the United States classified
according to supervisory status and participation in Federal deposit
insurance, as of December 20, 1963, are shown in Table 25.1 Slightly
less than one-half the total assets were held by banks reporting to the
Comptroller of the Currency. State banks which were members of the
Federal Reserve System held about one-fourth of the assets; and banks
participating in Federal deposit insurance but which were not members
of the Federal Reserve System held about an equal share. Noninsured
banks held about two and one-half percent of the assets of all banks.
Table 26 shows the deposits of all banks classified according to super­
visory status and participation in Federal deposit insurance, December

Table 26.
and

D e p o s it s o f B a n k s C l a s s if ie d A c c o r d in g t o S u p e r v i s o r y S t a t u s

F e d e r a l D e p o s it I n s u r a n c e P a r t ic ip a t i o n , D e c e m b e r 20, 1963
Commercial banks
and trust
companies

All banks
Supervisory status

1

Total

Insured

Deposits of banks and
trust companies (in
millions)— total........... $320,746 $313,304
Banks of deposit............. 320,646
Examined by and report­
ing to:
Comptroller of the
Currency..................... 151,686
State authorities and
Federal Reserve banks
77,898
State authorities and
Federal Deposit In­
surance Corporation. . 83,720
7,342
State authorities only. . .
Trust companies not
regularly engaged in
deposit banking..........
Percentage in insured and
noninsured banks:
All banks and trust com­
panies ..............................
Banks of deposit................
Trust companies not regu­
larly engaged in deposit
banking...........................
1

Mutual
savings
banks

313,304

.%

100.0

$7,442 $274,647
7,342

274,647

Non­
insured

Insured

Non­
insured

$1,583 $38,657

$5,859

38,657

5,859

1,483

151,686

77,898

77,898

83,720
7,342

45,063

97.7%
97.7

2.3%:
2.3
100.0

See notes to Table 24.

38,657
1,483

100

Note: Due to rounding, components may not add to total.




Insured

151,686

100

100 0
100.0

^Non­
insured

5,859

100

99.4%
99.5

0 .6%

0.5

100.0

86.8

13.2%
13.2

58

FEDERAL DEPOSIT INSURANCE CORPORATION

20, 1963.1 The proportion of deposits held by banks reporting to the
various supervisory agencies differed only slightly from the distribution
of assets among banks in the same categories.
Capital ratios. The ratio of total capital accounts to assets (after
deduction of valuation reserves) of banks of deposit on December 20,
1963, was 8.2 percent. On December 28, 1962, the ratio was 8.1 percent.
In Table 27 capital ratios for banks of deposit, classified according to
supervisory status and participation in Federal deposit insurance on
December 20, 1963, are shown.

Table 27.

R a t io s o f C a p i t a l A c c o u n t s to A s s e t s o f B a n k s o f D e p o s it

C l a s s if ie d A c c o r d in g t o S u p e r v i s o r y S t a t u s a n d F e d e r a l D e p o s it
I n s u r a n c e P a r t ic ip a t i o n , D e c e m b e r 20, 1963
Commercial banks
and trust
companies

All banks
Supervisory status

1

Total
All banks of deposit...........
Examined by and report­
ing to:
Comptroller of the
Currency.....................
State authorities and
Federal Reserve banks.
State authorities and
Federal Deposit In­
surance Corporation. .
State authorities only. . .
1

C

Mutual
savings
banks

8

Insured

.2 %

8 .1%

Non­
insured

Insured

10.7%

8 .1%

8 .0

8 .0
8 .2

8.4

^Non­
insured

8.3%

9.6%

8 .2

8.4
10.7

14.5%

Insured

8 .0

8 .2

Non­
insured

8.5
10.7

8.3
14.5

9.6

See notes to Table 24.

hanges

in

N

um ber

of

B

a n k in g

and

O f f ic e s ,

and

in

B ank A

ssets

L ia b il it ie s

Changes in number of banks and branches. On December 31, 1963,
there were 28,369 banking offices in operation in the United States. The
increase of 1,340 offices during 1963 was 30 percent greater than the gain
in the preceding year and 50 percent above that in 1961.
In 1963 the number of banks increased for the first time since 1947.
As shown in Table 28, there w
rere 300 new banks opened during the year,
while 159 ceased operations. Most of the banks ceasing operations were
absorbed by other banks and continued to serve the public as branches
of the absorbing banks. The net change in the number of branches during
1963 was 1,199, a larger increase than in any previous year.

1 Data for 17 noninsured banks of deposit were unavailable. For some noninsured banks the data
are as of December 31, 1963.




B A N K IN G OFFICES, AND B A N K ASSETS AND LIABILITIES

59

Amounts and distribution of bank assets and liabilities.1 Total
assets of all banks in the United States amounted to $363,678 million
on December 20, 1963. This was 5.6 percent greater than on December
28, 1962, and 12.8 percent higher than at the date of the year-end call
in 1961. The share of total assets held by banks participating in Fed­
eral deposit insurance remained at 97.6 percent in 1963, the same as in
the preceding year, and up slightly from 97.5 percent in 1961. The pro­
portion of total assets held by mutual savings banks continued to grow.
These banks held 13.3 percent in 1961, 13.4 percent in 1962, and 13.6
percent in 1963.
Table 29 shows amounts and percentage distributions of assets and
liabilities of all banks at year-end call dates 1961-1963. During 1963,
both cash and funds due from banks and United States Government
obligations continued to decline in relation to total assets, while other
securities (principally obligations of states and their political sub­
divisions) and total loans were increasing. The composition of the
aggregate loan portfolio changed irregularly, with trends for two years
apparent only in a declining proportion of commercial and industrial
loans and increases in the percentage of loans to financial institutions.
Among the classes of deposits, the decline in the proportion consisting
of demand deposits of business firms and individuals has been approxi­
mately balanced by the increase in their time and savings deposits.
Percentage changes in assets and liabilities during 1962 and
1963. Percentage changes in the major categories of assets and lia­
bilities of all banks in the United States between year-end call dates
in 1961, 1962, and 1963 are shown in Table 30. Total assets increased
5.6 percent in 1963, compared with an increase of 6.8 percent in 1962.
The slower rate of growth in 1963 reflects the fact that holdings of se­
curities other than obligations of the United States Government and
loans both increased less rapidly than in the preceding year, while
holdings of both cash and funds due from banks and United States
Government securities decreased more rapidly during 1963 than in
1962. Loans increased only slightly less rapidly in 1963 than in 1962,
with all classes of loans showing increases in both years. Rates of change
varied considerably for the various categories of deposits, with demand
deposits of business firms and individuals being the only one to show
a net decline over the two-year period.
G r o w t h in B a n k D e p o s its fr o m

June

30, 1961

to Jun e

29, 1963

From June 30, 1961, to June 30, 1962, deposits in all banks in the
United States increased by 8.6 percent ; from June 30, 1962, to June 29,
1
Call dates for all banks participating in Federal deposit insurance were December 28, 1962, and
December 20, 1963. Figures for some noninsured banks are as of December 31. In 1961 the call date
was December 30.




T a b le 2 8 .

A n a l y s is of C h a n g e s in N u m b e r o f B a n k s an d B ranch es in th e U n ite d S ta t e s (S ta t e s and O th e r A r e a s ), D u rin g th e Y ears

g

1961, 1962 a n d 19631
1962

1963
Type of office and change

Mutual
savings
banks

Commercial
banks and
trust
companies

All
banks

Mutual
savings
banks

Commercial
banks and
trust
companies

A1!
banks
,

Mutual
savings
banks

ALL B AN K IN G OFFICES

1,135

27,029

25,930

1,099

26,002

24,943

1,059

+ 1,304

+36

+ 1,027

+987

+ 40

+897

+840

+ 57

Number, December 31..................................................

14,092

13,582

510

13,951

13,439

512

13,959

13,444

515

Net change during year........................................

+ 141

+ 143

-4 0

-4 0

Banks beginning operations
...........................
New banks opened ...............................................
Suspended banks reopened...................................
Banks ceasing operations..........................................
Absorbed.................................................................
Suspended...............................................................
Other liquidations2
..
Other or unclassified changes— net..........................

300
300

300
300

BANKS

- 2

-5

- 8

-3

157
152

2
3

2
3

2
2

181
179

110

109

109
108

2

159
154

181
179

2

1

1

3
3

154
138
9
7
+4

153
137
9
7
+4

191
183
3
5
+2

188
180
3
5
+2

.........

1
1
1
1

BRANCHES *

Number, December 31..................................................

14,277

13,652

625

13,078

12,491

587

12,043

11,499

544

Net change during year........................................

+ 1,199

+ 1,161

+ 38

+ 1,035

+992

+ 43

+ 937

+880

+ 57

Branches beginning operations.................................
Succeeded absorbed banks....................................
Other new branches...............................................
Branches discontinued...............................................
Other or unclassified changes—net..........................

1,253
145
1,108
54

1,214
143
1,071
53

39

1,067
169
898
51
+ 19

1 ,0 2 0

47
3
44
4

985
126
859
61
+ 13

926
125
801
59
+ 13

58

2

37
1

166
854
47
+ 19

1 Excludes changes not affecting number of banks or branches of commercial banks and trust companies or of mutual savings banks.
2 Includes 1 bank in 1961, 1 in 1962 and 1 in 1963 which ceased banking operations but now engage in other business.
3 Includes facilities established in or near military or other Federal Government installations at request of the Treasury Department or

Back data: Annual Report for I960, p. 33. Detailed data (including changes referred to in note 1): Table 102, pp. 116-117.




59
1
2

the Commanding Officer of the installation.

CORPORATION

27,234

+ 1,340

INSURANCE

28,369

Net change during year........................................

DEPOSIT

Number, December 31..................................................

FEDERAL

Commercial
banks and
trust
companies

All
banks

1961

T able 29.

A m o u n t s a n d P e r c e n t a g e s o f M a j o r C a t e g o r ie s o f A ss e t s a n d L ia b i l i t i e s o f A l l B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r

A m o u n t (in m illio n s )

GROWTH

A r e a s ), a t Y e a r -E n d C a l l D a t e s , 1961-19631

P e r c e n t a g e d is t r ib u t io n

A s s e t o r lia b ilit y it e m

Assets— total ................................................

Liabilities and capital accounts— total................................

Loans— gross total 3.......................................

B u s in e s s a n d p e r s o n a l d e p o s it s :
D e m a n d 4 .............................................................................
T im e a n d s a v i n g s ........................................................................................
G o v e r n m e n t d e p o sits :
S ta te s a n d s u b d i v i s i o n s ...........................................................................
U n it e d S t a t e s ................................................................................................
I n t e r b a n k d e p o s it s 6 ..................................................................................

* Includes postal savings deposits.

1962, December 20, 1963.
credit, etc.

1 AA f\ T
Cf

100.0

1 0 0 .0

RS 9
OO . Z
Q O
O . ft
e z
0 .9

00.0
O,□

1u l l . A
l AA U
CQ A
o y .4
9 p
i
z .O

ia a . u
1UU A
97 1
Z4. 1

in n . rt
1UU u
97 a
Zi . Q
A .n
4 U
A 9
4 .Z
Q7 .0
04 Q
17 A
JL .0
/
fi Q
D.a
9 9

1 AA . A
1UU U
9Q G
Z o .y
4 u
4 .A

1AA A
JLUU.U

1 0 0 .0

5 7 ,4 8 7
72 8 2 2
29 719
154 8 4 3
7 4 66

14 2
1q n
i y .u
1j .z
l 9
KO O
Oo . Z
9 4
Z .A

28]120

3 2 2 ,3 3 6
2 8 7 991
8 0 49
26 2 9 6

196,683

176,407

157 689

5 3 ,4 2 6
7 ,4 9 0
7 ,9 0 5
7 5 ,4 6 3
3 5 ’, 1 9 6
1 3 ,1 3 3
4 069

4 9 ’ 148
7 ,1 1 2
7 3 46
6 6 747
31 0 33
1 1 ]0 8 5
3 935

45 538
6 ’ 2 63

3 2 0 4TtU
0^1/ 374,6

304 591

9ft7 OOl

in n . a
lull U

12Q , 0 8 3
J *!7 UOO
L
1 4 4 ,5 1 8

19 a , 000
1*0

A(\ 9

>19 . 0
Q

1 30 194

1
9A.Q
XoU , ZQtf
115 2 1 8

40 . I

42 8

2 0 ,3 4 3
7 ,0 3 1
1 9 ,7 7 0

1 8 ,6 7 2
7 125
1 9 ' 762

17 8 4 3
fl ’ 9
1 ft , 4.97
lO
1

fi . O
D Q
9 .z
z 9
A .z
0 9

9 Q
Z .O
fi . D
0 ft

3 0 4 ,5 9 1
11 571

fi

'910

, OOf
9ft , &! 4
O 977
ft , O 1 rt
O *374.
0 , ^toO

ft

Q
0 .0
a .u
4 n

QQ A
1/ y
1 7. Q
fi /
O.7

00 . i:

2.1

Q 9
O. Z

6.1

1UU . 0 %
1 7. y
i / Q
99 0
z z . fi
Q.z
y 9
yQ A
4
4 o «U
9 Q
z .0

Q -I
O, I

0 n
0 .y
3 7 .8
1 7 .9
r 0
r
O.0
0 .1
z 0

4 5 .2
AC\ U
4U . A
fi . 9
0 z
0 Z
Z .0

O .4

29, 1963

1 December 30, 1961, December 28,
2 Net of valuation reserves.
8 Including valuation reserves.
4 Includes certified checks, letters of

344,282

1961

i Art nor
1UU. \ /o
3
16 0
21 ! i
10 . Z
1U 9
OU. A
4
9 Q
Z .O

i nn (\oy
JLUlr. U /o

30, 1961 T JUNE
O

Deposits— total ...................................................................................................

3 6 3 ,6 7 8
3 2 0 ,7 4 6
1 2 ,9 6 9
2 9 ,9 6 3

1, JOS)

1962

JUNE

C o m m e r c ia l a n d i n d u s t r ia l........................................................................
A g r i c u l t u r a l ( e x c e p t r e a l e s t a t e ) ............................................
F o r c a r r y i n g s e c u r i t i e s .......................................................................
R e a l e s t a t e l o a n s .......................................................
O t h e r lo a n s t o i n d i v i d u a l s ....................................................................
T o fin a n c ia l i n s t i t u t i o n s ......................................................................
A l l o t h e r ............................................................................

$344. 2R2
5 5 ,0 7 0
7 2 ,6 8 2
35 063
1 7 3 ]4 7 6
7 991

196 3

FRO
M

D e p o s i t s — t o t a l ...................................
O t h e r l i a b i l i t i e s .............................................................
C a p i t a l a c c o u n t s — t o t a l ..............................................................................

$ 3 6 3 ,6 7 8
51*677
6 9 ,2 2 3
4 0 ,5 7 9
1 9 3 ,4 4 2
8 ,7 5 6

1961

DEPOSITS

C a s h a n d fu n d s d u e f r o m b a n k s ............................................................
U . S. G o v e r n m e n t o b l i g a t i o n s ..............................................................
O t h e r s e c u r i t ie s .............................................................
L o a n s a n d d is c o u n t s 2..............................................................................
O t h e r a s s e t s ...........................................

1 96 2

I BANK
N

1963

Note: Due to rounding, components may not add to total.




O

62

FEDERAL DEPOSIT INSURANCE CORPORATION

1963, the rate of increase was 8.5 percent. These gains were distributed
quite unevenly among the banks, with deposits in many banks increas­
ing at a rate much above the average, while a number of banks ex­
perienced declines in deposits.
Tabulations have been prepared showing for each of these periods
the number of banks gaining or losing deposits at specified rates. In­
formation regarding changes in deposits is provided by class, type, size,
and location of banks. In addition, tables are included in which the
banks are distributed by the proportion of demand to total deposits,
and by the percentage change in loans.
Figures for deposits and loans include the main office and branches
other than those located in foreign countries. Expansion by opening
new branches was regarded as part of the normal process of growth.
However, in the cases of banks which absorbed one or more banks during
either of the two 12-month periods, adjustments were made to eliminate
from the deposits and loans at the close of the period the amounts
acquired at the time of each absorption transaction.

T a b le 3 0.

P er c en ta g e C h a n g e s in M ajor C a te g o r ie s of A ssets and

L ia b il it ie s of A ll B a n k s in th e U n it e d St a t e s (S t a t e s a n d O t h e r
A r e a s ), Year-end Call Dates 1961-1962, 1962-1963, and 1961-1963
Percentage change
Asset or liability item
1961-1963
Assets— total.............................................................................

1 2 .8

%

1962-1963

1961-1962

5.6%

6

.8 %

-4 .9
36.5
24.9
17.3

- 6 .2
-4 .8
15.7
11.5
9.6

-4 .2
- 0 .2
18.0

Loans— gross total2................................................................

24.7

11.5

11.9

Commercial and industrial....................................................
Agricultural (except real estate)...........................................
For carrying securities...........................................................
Real estate loans....................................................................
Other loans to individuals......................................................
To financial institutions.........................................................

17.3
19.6
27.2
26.6
24.5
56.8
18.4

8.7
5.3
7.6
13.1
13.4
18.5
3.4

7.9
13.6
18.2
9.7
32.4
14.5

Deposits—-total.................... ...................................................
Business and personal deposits:
Demand *.............................................................................
Time and savings................................................................
Government deposits:
States and subdivisions......................................................
United States......................................................................
Interbank deposits 4 ................................................................

11.4

5.3

5.8

-0 .9
25.4

0 .2
1 1 .0

Cash and funds due from banks...........................................
U. S. Government obligations...............................................
Other securities.......................................................................
Loans and discounts 1 .............................................................
Other assets.............................................................................

Capital accounts— total........................................................
1 Net of valuation reserves.
2 Including valuation reserves.
* Includes certified checks, letters of credit, etc.
4 Includes postal savings deposits.
5 Change less than .05 percent.




-

1 0 .1

14.0
12.4
7.3
13.9

8.9
-1 .3
(5
)
6 .6

1 2 .0

7.0

1 2 .0

-

1 .1

13.0
4.6
13.9
7.2
6.9

GROW TH IN B A N K DEPOSITS FROM JU N E 30, 1961 TO JU N E 29, 1963

63

Changes in deposits 1961-62 and 1962-63. Of the 13,578 banks
operating throughout both 12-month periods, 80 percent gained deposits
in both periods. Banks having deposit increases in 1961-62 but decreases
in 1962-63 were 8.5 percent of the total, while 10 percent had decreases
in 1961-62 but increases in 1962-63. Banks which experienced deposit
losses in both periods were 1.5 percent of the total.
Table 31 shows the rates at which deposits increased or decreased in
the same banks during the two 12-month periods. While the majority
of banks had gains in both periods, the rates of increase varied greatly
for individual banks. For example: 327 banks had gains of less than 4
percent in both periods, but 152 banks with increases of less than 4
percent in 1961-62 had additions to deposits of 20 percent or more in
1962-63. There were 389 banks with rates of growth of 20 percent or
more in both periods, while 127 banks which expanded by 20 percent
or more in 1961-62 gained less than 4 percent in 1962-63. Some banks
experienced large gains in one period and losses of about the same
magnitude in the other. There were 9 banks with deposit decreases of
20 percent or more in 1961-62 and gains of 20 percent or more in 196263, while 14 banks had gains in 1961-62 and declines in 1962-63 of 20
percent or more in each period. About one-third of the banks having
decreases in both periods had losses of less than 4 percent in each
period.
The distribution of banks by type and insurance status presented in
Table 32, shows that, of the insured commercial banks, in both 1961-62
and 1962-63 a greater proportion of the State banks not members of
the Federal Reserve System which had gains in deposits had increases
of 20 percent or more than was true for either of the other classes. The
insured nonmember banks were also the class with the greatest pro­
portion of its numbers suffering reduction in total deposits. Noninsured
banks exceeded all classes of insured banks in the proportion with gains
of 20 percent or more and in those with declines in deposits. Mutual
savings banks, as would be expected, exhibited more stability in their
deposits.
In Table 33 commercial banks are grouped by amount of deposits.
In both periods the percentage of banks in which deposits increased
was lowest in banks having deposits of less than $1 million, and rose
somewhat irregularly with the size of bank. However, of the banks with
increases in deposits, those in the size group of $1 million or less had a
larger proportion of banks gaining 20 percent or more than was true for
any other size group. Nine-tenths of the banks in which deposits de­
clined by 8 percent or more had deposits of less than $10 million.
Distributions of mutual savings banks by size of bank are shown in
Table 34. Most of these banks had deposit gains in both periods, with
none having losses as great as 8 percent. Seven-eighths of the banks
in which deposits increased had gains of less than 12 percent.



T a b le 3 1.

N u m b e r of B a n k s in t h e U n it e d S t a t e s (S tates a n d O ther A r e a s ), O p e r at in g T h r o u g h o u t th e P eriod F rom J u n e 30, 1961, to

^

J u n e 29, 1963, D istribu ted b y P er cen tag e C h a n g e s in T o ta l D ep osits 1
Banks with deposit increases in 1961-62
Period and percent of change

Total

Banks with deposit decreases in 1961-62

16.0
to
19.9%

12.0
to
15.9%

8.0
to
11.9%

4.0
to
7.9%

Less
than
4.0%

Less
than
4.0%

4.0
to
7.9%

8.0
to
11.9%

12.0
to
15.9%

16.0
to
19.9%

20.0%
or
more

June 30, 1962, to June 29, 1963
Banks with deposit increases— total. . . 10,858

2,532

2,974

1,868

1,362

819

325

113

57

30

18

126
92
137
184
157

177
171
264
381
363

152
135
284
461
509
327

193
105
218
315
324
207

95
65
134
197
198
130

38
25
59
70
85
48

26
7
15
29
23
13

11
1

9

210

188
226
460
814
844
442

14

111

190
237
464
703
609
329

Banks with deposit decreases— total. . .

1,155

224

115

186

214

248

168

203

121

45

20

9

Less than 4 .0 % .........................................
4.0 to 7 .9 % ................................................
8.0 to 11.9% ..............................................
12.0 to 15.9% ............................................
16.0 to 19.9% ............................................
20% or m ore.............................................

674
273

91
41
41
26

65
30
13
4

109
46

134
64

110

110

70
32
15

28
7

11

1

11

2

14

1

165
57
18
4
3
1

112

47
26
23

20
6
2

3

6

3
6

1

35
14
4
2

3

48
28
9
3
5

5

6
6
10
11
10

0
2

2

1

2

2

3

1

3

2
1

1

3

1
1

6

4
5

3
3
1

4

4

1
o
1
X

i
i

1
1

1

i r\ Total nu“ ker of banks differs from those in Tables 32, 35, and 36 because this table includes only those operating throughout both 12-month periods. June 30, 1961 to June 30
r*r^
1962, and June 30, 19b2 to June 29, 1963.




CORPORATION

1,566

389
122
153
156
164
127

INSURANCE

807

1,222
983
1,762
2,699
2,646
1,546

DEPOSIT

1,111

20.0% or more...........................................
16.0 to 19.9% ............................................
12.0 to 15.9% ............................................
8.0 to 11.9% ..............................................
4.0 to 7 .9 % ................................................
Less than 4 .0% .........................................

FEDERAL

20.0%
or
more

Total

T able 32.

N u m b e r o f B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), D is t r i b u t e d b y P e r c e n t a g e C h a n g e in T o t a l D e p o s it s F r o m
J u n e 30, 1961, to J u n e 30, 1962, a n d F r o m J u n e 30, 1962, t o J u n e 29, 1963
BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF B ANK

Commercial and stock savings banks and nondeposit trust
companies
Insured

Mutual savings banks

GROWTH

All banks

Noninsured

Period and percent of change
Insured

Non­
insured

Total

1
Total

Members of
F. R. System

National

State

6 ,1 0 2

167

14

35
13
23
25
33
38

7

3

42
114
227
99

12

10

Insured

Non­
insured

497

318

179

8
7

4
5
32
77
153
47

4
O
Z
i
in
1U
37
74
52

Total

June 30, 1961, to June 30, 1962
Banks w ith deposit increases— t o t a l....................

11,803

360

11,485

3,943

1,440

1,350
932
1,767
2,778
3,268
2,068

1,304
917
1,734
2,714
3,159
1,975

46
15
33
64
109
93

1,342
925
1 725
2,664
3,041
1,969

1,300
912
1,702
2 , 637
’
3,006
1,928

324
274
546
923
1,125
751

92
123
203
338
413
271

884
515
953
1,376
1,468
906

Banks with deposit decreases— o t a l ...................
-t

1,577

1,499

78

1,567

1,492

523

148

821

63

Less than 4 % .............................................................
4.0 to 7.9 % ...............................................................
8.0 to 11.9% ............................................................
12.0 to 15.9% .............................................................
16.0 to 19.9% .............................................................
2 0 .0 % or m ore...........................................................

944
374
135

30
17
4
9

937
371
135

333
115
44
17

98
30
13
4

478

4

74
36
17

24
14
4
7
Q

6

8

4

1 1 ,6 6 6

36

914
357
131
57
30

36

22

10

6
12

909
355
131
57
30

22

10

12
2

1
2

66

66

210

2
2

2

7
3

7

3

5
2

2
1

2

June 30, 1962, to June 29, 1963
Banks with deposit increases— t o t a l ...................

11,991

371

11,854

11,662

4,015

1,413

6,234

181

11

508

329

179

1,519
1,095
1,986
3,018
2,982
1,762

1,457
1,080
1,959
2,942
2,859
1,694

62
15
27
76
123

1,453
1,072
1,919
2,821
2,724
1,673

389
345
685
983
1,015
598

129
124
219
405
343
193

935
603
1,015
1,433
1,366
882

52

8
10

4

4

17
31
30
39

6
1
1
1
2

49
165
226
50

40

68

1,511
1,085
1,937
2,853
2,756
1,712

21

9
44
91
29

Banks with deposit decreases—‘t o ta l....................

1,360

1,284

76

1,356

1,282

405

125

752

61

13

4

2

2

Less than 4.0 % ..........................................................
4.0 to 7.9% ...............................................................
8.0 to 11.9%.............................................................
12.0 to 15.9%.............................................................
16.0 to 19.9%.............................................................
2 0 .0 % or more...........................................................

785
320
140
58
28
29

760
303
123
53
25

25
17
17
5
3
9

782
319
140
58
28
29

759
302
123
53
25

256

69
34

434
180
72
34
18
14

18
16
16
4

5

3

1
1

2




20

20

88

39
13
5
4

12
6
2
2

12

2

5

1
1
1

4

1

8

121

135

2

29, 1963

12,362

% or more...........................................................
16.0 to 19.9%.............................................................
12.0 to 15.9%.............................................................
8.0 to 11.9%.............................................................
4.0 to 7.9% ...............................................................
Less than 4 .0 % ..........................................................

2 0 .0

30, 1961 T JUNE
O

12,163

% or more...........................................................
16.0 to 19.9%.............................................................
12.0 to 15.9%.............................................................
8.0 to 11.9% .............................................................
4.0 to 7 .9 % ...............................................................
Less than 4.0 % ..........................................................

2 0 ,0

JUNE

Non­
deposit
trust
com­
panies

FRO
M

Banks
of
deposit

DEPOSITS

Not
mem­
bers

I BANK
N

Total

Table 33.

N u m b e r o f C o m m e r c ia l B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), D is t r i b u t e d b y P e r c e n t a g e C h a n g e in T o t a l

05
05

D e p o s it s F r o m J u n e 30, 1961, to J u n e 30, 1962, a n d F r o m J u n e 30, 1962, t o J u n e 29, 1963
b a n k s g r o u p e d a c c o r d in g t o a m o u n t o f d e p o s it s

Banks with deposits (in millions of dollars) of—
Period and percentage change

All
banks

1

to

2

2 to 5

5 to 10

10 to 25

500
or more

224

51

8

3

50 to 100

100

June 30, 1961, to June 30, 1962
11,666

1,235

2,186

3,836

2,059

1,433

20.0% or more.....................................
16.0 to 19.9%.......................................
12.0 to 15.9%.......................................
8.0 to 11.9%.......................................
4.0 to 7 .9% .........................................
Less than 4 .0 % ....................................

1,342
925
1,725
2,664
3,041
1,969

277
114
198
214
243
189

329
190
355
458
502
352

397
339
553
887
1,018
642

180
136
285
475
588
395

100

Banks with deposit decreases— total

1,567

228

386

502

Less than 4 .0 % ....................................
4.0 to 7 .9% .........................................
8.0 to 11.9%.......................................
12.0 to 15.9%.......................................
16.0 to 19.9%.......................................
20.0% or more.....................................

937
371
135

120

207
108
41
19
7
4

319
106
41

36
22

64
16
16

263

140

26

15

7

165
58
24
8
7

93
30
8

19
3

8
2
4

1

20

9
34
63
57
31

13
15
27
67
66
36

5
3

1
1

101

1

1
1

1

8
19
13
7

INSURANCE

66

203
364
428
237

35
20
62
117
126
80

June 30, 1962, to June 29, 1963
Banks with deposit increases— total

11,854

1,006

2,101

3,974

2,252

1,536

474

222

229

20.0% or more.....................................
16.0 to 19.9%.......................................
12.0 to 15.9%.......................................
8.0 to 11.9%.......................................
4.0 to 7.9% .........................................
Less than 4 .0 % ....................................

1,511
1,085
1,937
2,853
2,756
1,712

228
97
137
169
204
171

320

242
211
420
591
503
285

131
128
242
406
396
233

29
34
77
127
133
74

12
16
27
69
61
37

11

305
464
482
330

537
382
697
947
889
522

17
21
63
67
50

21
10

Banks with deposit decreases— total

1,356

257

347

373

174

131

45

13

15

1

Less than 4 .0 % ....................................
4.0 to 7 .9% .........................................
8.0 to 11.9%.......................................
12.0 to 15.9%.......................................
16.0 to 19.9%........................................
20.0% or more.....................................

782
319
140
58
28
29

113
67
43
22
5
7

198
74
35
18
10

230
90
31

107
38
18
5
4
2

79
39
8

33
8
2

8

13
2

1

1

1
1




200

12

11
6

5

2
2

1

3

60
1

11

17

CORPORATION

Banks witli deposit increases— total

DEPOSIT

to
500

202

25 to 50

FEDERAL

Less
than 1

Table 34.

N u m b e r o f M u t u a l S a v i n g s B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h a n g e in T o t a l
D e p o s it s F r o m J u n e 30, 1961, t o J u n e 30, 1962, a n d F r o m J u n e 30, 1962, t o J u n e 29, 1963
GROWTH

b a n k s g r o u p e d a c c o r d in g to a m o u n t o f d e p o s it s

Banks with deposits (in millions of dollars) of—
All
Banks

Less
than 1

1

to

5 to 10

10 to 25

4

31

65

153

98

1

2

3

2
2

25 to 50

to
500

500
or more

72

13

5
16
38
13

4
7

61

77

14

1
9

1
9
29
35
3

6
2

50 to 100

100

June 30, 1961, to June 30, 1962
497
7
42
114
227
99

Banks with deposit decreases— total...............................

10

4 0 to 7 9%

2

...........
...........

2

6
1

11
10

1
8

16

29

2

13
44

fin
ou
oi

9
23
46

59
2

4
8

37

1

2

1

1

1

1

5

1

1

1

1

3

1

1

1

1

508

3

ft
10

1

8

2

June 30, 1962, to June 29, 1963
Banks with deposit increases— total...............................

3

28

66

155

101

3

1

2
2

49
165
226
50

5

1
28
Z
O
Q
O

Banks with deposit decreases— total...............................

4

1

1

2

Less than 4 .0 % .....................................................................

3
1

1

1

1
1

4 0 to 7 Q%

2

1
1
2

I
I

2
8
11

5
18
46
DO

on

7
31
55
4

20

26
5

2

3

67




8
10

29, 1963

% or more..................................................................
16.0 to 19.9%...........................
12.0 to 15.9%........................................................................
8.0 to 11.9%........................................................................
4.0 to 7 .9 % ....................................................................
Less than 4 .0 % ...............................................................

2 0 .0

30, 1961 T JUNE
O

7
3

11

JUNE

Less than 4 .0 % ...........................................................

8

FRO
M

% or more..................................................................
16.0 to 19.9%........................................................................
12.0 to 15.9%........................................................................
8.0 to 11.9%........................................................................
4.0 to 7.9% ...................................................
Less than 4 .0 % .....................................................................

2 0 .0

DEPOSITS

2 to 5

2

I BANK
N

Period and percent of change

T a b le 3 5.

N u m b e r o f B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h a n g e in T o t a l D e p o s it s F ro m
J u n e 30, 1961, to J u n e 30, 1962, a n d F r o m J u n e 30, 1962, to J u n e 29, 1963
b a n k s g r o u p e d a c c o r d in g to f e d e r a l d e p o s it in s u r a n c e c o r p o r a t io n d is t r ic t s

Period and percent of change

Federal Deposit Insurance Corporation Districts

All
banks
3

2

4

5

7

6

9

8

10

11

12

June 30, 1961, to June 30, 1962
Banks with deposit increases-—
total....................

1,123

862

1,007

1,362

1,241

1,448

970

1,362

1,076

321

44
36
83
168
255
136

36
50

174
99
174

184
137

132
116
239
354
371
236

60
58
136
238
288
190

203
147

305
386
224

97
70
136
196
231
132

274
286
250

217
103
176
193
216
171

73
28
39
74
63
44

Banks with deposit decreases— total....................

1,577

62

73

111

38

Less than 4 .0 % ..........................................................
4.0 to 7 .9 % ...............................................................
8.0 to 11.9%.............................................................
12.0 to 15.9%.............................................................
16.0 to 19.9%.............................................................
2 0 .0 % or more...........................................................

944
374
135

44

54
9
5

82
16
9

66

1

2
2

22

2
2
1

4

36

10

3

122

157

324
343
153

90
71
163
293
385
239

68

134

140

138

178

168

274

193

38
15

80
30

97
49

11

89
31
13
3

113
39

8

85
29
16
5
3

12

2

2

9
4
1

11

4
4
3

137
85
25
17
7
3

106
51
17
g
7
4

3
2
2

201
202

9
4

221

202

19
10

5

4

June 30, 1962, to June 29, 1963
Banks with deposit increases— total....................

12,362

699

735

1,109

830

1,030

1,379

1,286

1,474

1,023

1,386

1,064

347

% or m ore...........................................................
16.0 to 19.9%.............................................................
12.0 to 15.9%.............................................................
8.0 to 11.9% .............................................................
4.0 to 7 .9 % ...............................................................
Less than 4.0 % ..........................................................

1,519
1,095
1,986
3,018
2,982
1,762

54
37
82

58
61

252
362
310
147

177
134
241
358
354

158

214
188
228
303
288
158

93

333
277
178

98
93
151
196
188
104

171
103
167

239
85

67
44
115
223
205
81

210

148
73
143
223
249
187

183
127
198
296
335
247

179
81
152
226
254
172

77
32
55
76
72
35

Banks with deposit decreases— total....................

1,360

30

31

83

62

127

125

87

182

118

270

227

18

Less than 4 .0 % ..........................................................
4.0 to 7 .9 % ...............................................................
8.0 to 11.9%.............................................................
12.0 to 15.9% .............................................................
16.0 to 19.9% .............................................................
2 0 .0 % or m ore...........................................................

785
320
140
58
28
29

22

17
7
3

57
16

31
18
9

65
37
15

66

62

112

117
59
29

2
2

6
1

144
64
40
15
4
3

12

10

47

80

2 0 .0




202

4
2

1
1

2
2

202

6

1
1

2

220
211

3

34
12
6

122

3
5

11

5

2

5
5

2

5

2

21

9
Q
2

3
1

10

5
7

2

CORPORATION

722

40
17
76
158
242
136

INSURANCE

669

1,350
932
1,767
2,778
3,268
2,068

DEPOSIT

12,163

% or m ore...........................................................
16.0 to 19.9% .............................................................
12.0 to 15.9% .............................................................
8.0 to 11.9% .............................................................
4.0 to 7.9 % ...............................................................
Less than 4.0 % ..........................................................

2 0 .0

FEDERAL

1

T a b le 3 6. N u m b e r o f B a n k s i n t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h a n g e in T o t a l D e p o s it s F ro m
J u n e 30, 1961, t o J u n e 30, 1962, a n d F r o m J u n e 30, 1962, t o J u n e 29, 1963
B AN K S GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH MAIN OFFICE IS LOCATED

Period and percent of change

Less
than
250

250
to
1 ,0 0 0

to
5,000

5.000
to
25.000

1 0 0 .0 0 0

to
500,000

1 ,0 0 0

25.000
to

1 0 0 ,0 0 0

500,000
to
2,500,000

2,500,000
or
more

458

2,600

4,041

2,744

1,215

654

289

162

I BANK
N

1,350
932
1,767
2,778
3,268
2,068

64
37
77

285

386
328
581
953
1,073
720

288
198
369
662
745
482

162
179
273
345
190

97
48
92
142
180
95

50
27
31
61
72
48

18
7
15
35
56
31

DEPOSITS

2 0 .0

% or more................................................................................
16.0 to 1 9 .9 % ..............................................................................
12.0 to 1 5 .9 % ..............................................................................
8.0 to 1 1 .9 % ..............................................................................
4.0 to 7 .9 % ..............................................................................
Less than 4 .0 % ..............................................................................

112

54

14

12

65
29
9
3
Q
O
o
u

28
9

8
2

102
110
68

221

423
550
687
434

1,577

88

473

501

323

Less than 4 .0 % .........................................................
4.0 to 7 .9 % ........................................................................................
8.0 to 1 1 .9 % ......................................................................................
12.0 to 1 5 .9 % ......................................................................................
16.0 to 1 9 .9 % ..........................................................................................
2 0 . 0 % or more..........................................................................

944
374
135

45
25

267
126
49

211

5
4

315
115
35
23
9
4

66

36

8

5
5

22

22

67
26
3
7
4

2

A
o
K
o

3
1
i

5
1

3
1
2

Banks with deposit increases—
-tota l...................................................

441

2,608

4,128

2,814

1,249

665

296

161

1,519
1,095
1,986
3,018
2,982
1,762

52
46
64
85

478
370
739
1,055
935
551

342
280
487
674
663
368

174
99
177
315
329
155

99
46
77
158
176
109

56
19
36
69
79
37

14
7

83

304
228
394
621
628
433

41
61
26

Banks with deposit decreases— total..................................................

1,360

105

441

395

241

94

56

17

11

Less than 4 .0 % ..............................................................................
4 .0 t o 7 .9 % ..........................................................................................
8.0 to 1 1 .9 % ..........................................................................................
12.0 to 1 5 .9 % ..........................................................................................
16.0 to 1 9 .9 % ......................................................................................
2 0 . 0 % or more..................................................................................

785
320
140
58
28
29

45
28
13

252
99
58
17
8
7

235
96
31

145
59
23

65
15
7

29
16
6

6
1
1

2

A

8
6
1

5

1

1
1

10
6

3

20

5
8

4

g
4

12

1
2

69




111

29, 1963

12,362

% or more...................................................................................
16.0 to 1 9 .9 % ....................................................................................
12.0 to 1 5 .9 % ....................................................................................
8.0 to 1 1 .9 % ....................................................................................
4 . 0 to 7 .9 % ................................................................................
Less than 4 . 0 % ..........................................................................

2 0 .0

30, 1961 T JUNE
O

June 30, 1962, to June 29, 1963

JUNE

Banks with deposit decreases— total..................................................

66

FRO
M

12,163

June 30, 1961, to June 30, 1962
Banks with deposit increases— total...................................................

GROWTH

Population of Center or Metropolitan Area
All
banks

T a b le 3 7 .

N u m b e r of C o m m e r c ia l B a n k s in t h e U n it e d S tates (S tates a n d O th e r A r e a s ), D ist r ib u t e d b y P e r c en t a g e C h a n g e in T otal
D ep o sits F rom J u n e 30, 1961, to J un e 30, 1962, an d F rom J u n e 30, 1962, to J u n e 29, 1963
b a n k s g ro u ped according to ratio of d e m an d d eposits to to ta l d eposits

Banks with ratio of demand deposits to total deposits of—
Period and percent of change

Total

1 0 .0

%
to
19.9%

2 0 .0 %
to
29.9%

30.0%
to
39.9%

40.0%
to
49.9%

50.0%
to
59.9%

60.0%
to
69.9%

70.0%
to
79.9%

80.0%
to
89.9%

90.0%
or
more

June 30, 1961, to June 30, 1962
2,313

2,282

1,940

1,135

331

16

52

337
216
368
504
523
365

258
173
340
560
567
384

131
134
271
471
600
333

51
64
146
299
388
187

11

17
34
79
132
58

2
2
2
1

4
3

151
195
179

276
173
326
368
400
270

1,567

296

181

225

297

244

169

111

31

8

5

937
371
135

131
95
34
19

112

130
63
16

179
64
27

148
60

118
32

25

3

4

20
8
6
2

12

to 19 9% ......................................................................................
to 1 5 .9 % ........................................................................................
to 1 1 .9 % .........................................................................................
to 7 .9 % .........................................................................................
than 4 .0 % .....................................................................................

Banks with deposit decreases~“ t o ta l.................................................
Less than 4 .0 % .......................................................................................
4 0 to 7 9%
....................................................................................
8 0 to 11 9%
..................................................................................
12 0 to 15 9% .......................................................................................
16 0 to 19 9%
..................................................................................
2 0 0 % or more........................................................................................

16 0
12.0
8.0
4 .0
Less

112

38
19
5
5

3
3

87
16
5
1
2

2
2
1

5
4

2

14
15
14

1

1

1
2
1

1

2

4
4

20
6
1

610

707

1,636

2,372

2,553

2,169

1,335

368

38

66

77
39
65
108
179
142

100
68

356
246
382
526
538
324

401
262
445
572
550
323

211

18
30
63
117
103
37

9

189
375
584
513
297

89
104
291
411
303
137

11
2

81
149
161
148

239
144
223
360
379
291

1,356

284

165

255

258

178

133

59

782
319
140
58
28
29

133
63
48
18

84
42
13
15

143
75
23

153
63
30
7
3

115
37

96
27
7

48
7

66

36

8

22

9

Banks with deposit increases“~ to ta l..................................................

11,854

% or more........................................................................................
16 9 to 1 9 .9 % .........................................................................................
12 0 to 15 9 % .........................................................................................
8 0 to 11 9 % .........................................................................................
4 0 to 7 9%
....................................................................................
Less than 4 0 % .....................................................................................

1,511
1,085
1,937
2,853
2,756
1,712

8

1

June 30, 1962, to June 29, 1963

20

0

Rflnlts with deposit decreases“ — o ta l..........................................
,t
4 0
8 0
12 0
16 0
20

to 7 9%
to 11 9%
to 15 9%
to 19 9%
0 % or more

....................................................................................
....................................................................................
............................................................................
............................................................................
....................................................................................




8

14

8

3

6

5
3

2

12

9
1

4

1
1
1

12

7

2

2
1

1
1

1
1

1

6

9
23
17
7

8

4

2
2
2
2

1
1
2

3
3
13

CORPORATION

1,813

173
83
124
217
216
175

INSURANCE

988

99
60

1,342
925
1,725
2,664
3,041
1,969

DEPOSIT

796

1 1 ,6 6 6

FEDERAL

Less
than
%

1 0 .0

T a b le 3 8 .

N u m b e r of C o m m e rc ia l B a n k s in th e U n ited S t ates (St a t e s an d O t h e r A r e a s ), D is t r ibu t e d b y P er c en ta g e C h a n g e s in T o tal
D e p o s its a n d in L oans F rom Ju n e 30, 1961, to J u n e 30, 1962, a n d F rom J u n e 30, 1962, to J u n e 29, 19631

T otal

28.0% 24.0 2 0 . 0
16.0
1 2 .0
8 .0
4.0
or
to
to
to
to
to
to
more 27.9% 23.9% 19.9% 15.9% 11.9% 7.9%

Banks with percentage decreases in loans of—
Less
than
4.0%

Total

Less
than
4.0%

4.0
8 .0
1 2 .0
16.0 2 0 . 0
24.0 28.0%
to
to
to
to
to
to
to
7.9% 11.9% 15.9% 19.9% 23.9% 27.9% more

Banks with deposit increases— total.

969 1,494 1,911 1,973 1,440

113

125

78
76
77
34

116
82
124
143
119
59

Banks with deposit decreases— total.

1,028

62

17

Less than 4 .0 % ....................................
4.0 to 7 .9 % ......................................
8.0 to 1 1 .9 % ......................................
12.0 to 1 5 .9 % ......................................
16.0 to 1 9 .9 % ......................................
2 0 . 0 % or more.....................................

663
230
77
33
16
9

35

11

11

9
4
1

2
3
1

1,697

897

385

201

96

38

32

14

34

76
99
214
350
502
456

36
54
116
197
274

18
25
49
76
106

10
11

1
2

1

3

3
9

6

1

111

12
11

5
4
15

3

220

25
37
62
56

5
5
13
17
28
28

2

259
504
616
393

55
75
163
329
472
346

3

2
1
6
10
12

180

245

259

533

184

138

69

42

23

27

13

37

113
45
9
7
4

168
46
19
7
4
1

179
55

273
141
58
32

117
39
14
7
7

65
50
16

36
13

g

1

3

3

14
4
3
o
Z

9
9
5
9
£

2
4
4
q
o

10
11

10
5

20
11
2
4

2

2

188
229
214
93

139
139
245
370
384
217

116
310
504
558
312

51

83

131

33

46
27

78
33
14
3
2
1

11

5
1

1

120

6

3
1

111

99
102

12

g

3

20

9

573

883 1,268 1,673 1,939 1,726 1,188

141
73
113
126
71
49

138
130
181
209
150
75

2

1

4
Q
o
K
O
A

June 30, 1962, to June 20, 1963
Banks with deposit increases— total.
2 0 .0

10,763 1,513

560

269

136

57

24

130
162
313
465
380
223

107
130
342
508
555
297

83
99
250
479
503
312

56
80
159
300
339
254

56
58
131
241
316
289

25
32

g

3

1

6

129
168
138

15
13
33
53
81
74

12
29
38
43

2
7
17
11
17

46

78

135

165

204

182

411

142

98

63

98
43
16
3
1
4

107
44
18
7
3
3

198
108
54
29

82
36
15
5

42
35

12

9

11
6

13

2

85
30
13
3
3
1

134
43

2

48
19
7
3
1

34

3

23
13
5

10
12

2
2

1,455
1,027
1,806
2,612
2,440
1,423

677
193
194
188
165
96

Banks with deposit decreases—
-total.

945

95

40

Less than 4 .0 % ....................................
4.0 to 7 .9 % ......................................
8.0 to 1 1 .9 % ......................................
12.0 to 1 5 .9 % ......................................
16.0 to 1 9 .9 % ......................................
2 0 . 0 % or more.....................................

584

57
17

32

1

211
86

29
18
17

12

3
2

4

2

1

3

12
6

5
4

68

Total numbers of commercial banks are smaller than those in Tables 33 and 37 because some banks had no loans outstanding.




3
x

2
2

1

g

5
5

17
2

15

13

o
«
5
1

1

A
*±

i
i

2

2

6

4
4
7

40

26

15

6

18

8

2

6

5
4

7
4
4

6

2
2

2

4

2
1

2
1
1
1

4
1

5
3
21

o
o

29, 1963

1,091

123
160
254
337
277
117

% or more.....................................
16.0 to 1 9 .9 % ......................................
12.0 to 1 5 .9 % ......................................
8.0 to 1 1 .9 % ......................................
4.0 to 7 .9 % ......................................
Less than 4 .0 % ....................................

30, 1961 T JUNE
O

2

2

1

6

JUNE

643

506
140
142
158
98
58

FRO
M

429

1,264
825
1,509
2,313
2,538
1,512

DEPOSITS

9,961 1,102

% or more.....................................
16.0 to 19.9% . ....................................
12.0 to 1 5 .9 % ......................................
8.0 to 1 1 .9 % ......................................
4.0 to 7 .9 % ......................................
Less than 4 .0 % ....................................

2 0 .0

I BANK
N

June 30, 1961, to June 30, 1962

GROWTH

Banks with percentage increase in loans of—
Period and percent of change

to
T a b le 3 9.

N u m b e r of M u t u a l S a v in g s B a n k s in th e U n ite d States (S t a t e s a n d O th er A r e a s ), D is t r ib u t e d b y P e r c en t a g e C h a n g e s in
T o ta l D e p o s it s a n d in L o a n s F rom J u n e 30, 1961, to Ju n e 30, 1962, a n d F rom J u n e 30, 1962, to J u n e 29, 1963
Banks with percentage increase in loans of—
Total

28.0% 24.0 2 0 . 0
16.0 1 2 . 0
8 .0
4.0
or
to
to
to
to
to
to
more 27.9% 23.9% 19.9% 15.9% 11.9% 7.9%

Banks with percentage decreases in loans of—
Less
than
4.0%

Total

Less
than
4.0%

4 .0
8 .0
1 2 .0
16.0 2 0 . 0
24.0 28.0%
to
to
to
to
to
to
to
7.9% 11.9% 15.9% 19.9% 23.9% 27.9% Less

FEDERAL

Period and percent of change

June 30, 1961, to June 30, 1962

2 0 .0

487

16

13

27

55

8

3

1

2

1

3
4
4

2
1
11

7
42
113
223
94

5
4
3

1

4
8
6
6
1

17
19
5

78

149

1

7
39
84
18

43

10

7

2

2
20
21

4
5

3
4

1

1
1

1

9
28
32

106

8

3
12

54
37

1

8

1

3

4

2

2

Less than 4 .0 % ....................................
4.0 to 7 .9 % ......................................

6
2

1

3

2
2

1
1

1
1

30

6

5

June 30, 1962, to June 29, 1963
Banks with deposit increases— total.
2 0 ,0

502

15

13

8

5

2
1

33

50

107

166

88

% or more.....................................
16.0 to 1 9 .9 % ......................................
12.0 to 1 5 .9 % ......................................
8.0 to 1 1 .9 % ......................................
4.0 to 7 .9 % ......................................
Less than 4 .0 % ....................................

9
49
164
223
49

3
3

Banks with deposit decreases— total.

4

1

1

2

Less than 4 .0 % ....................................
4.0 to 7 .9 % ......................................

3

1

1

1
1




1

1

2
1

3
3
3

1

1

15

4
14
23

10

8

2
6

1

1
11

49
41
6

9
53
88

15

1
2

3
17
9

1

1

15
54
17

1

1

3

3

1

1

CORPORATION

Banks with deposit decreases— total.

1

INSURANCE

% or more.....................................
16.0 to 1 9 .9 % ......................................
12.0 to 1 5 .9 % ......................................
8.0 to 1 1 .9 % ......................................
4.0 to 7 .9 % ......................................
Less than 4 .0 % ....................................

DEPOSIT

Banks with deposit increases—
-total.

GROW TH IN B A N K DEPOSITS FROM JU N E 3 0 , 1961 TO JU N E 29, 1963

73

Banks are grouped by Federal Deposit Insurance Corporation dis­
tricts in Table 35. In both 1961-62 and 1962-63 the banks in Districts
1-4 were among the highest in the percentage which had gains in de­
posits. The lowest proportions of banks having gains were in Districts
10 and 11. Among banks having increases in deposits, those in Districts
5, 11, and 12 had higher proportions with increases of 20 percent or
more than in any other district. Banks having increases of less than
4 percent were relatively small proportions of all the banks gaining
deposits in Districts 6 and 12 in 1961-62, and in Districts 2, 6, 7, and
12 in 1962-63. Losses of less than 4 percent were reported by about
seven-tenths of the banks in which deposits declined in Districts 1,
2, and 3 in the first period, and in Districts 1 and 7 in the second.
Analysis of deposit gains by banks grouped according to the popula­
tion of the center in which they are located reveals that, both in 196162 and 1962-63, deposits increased in a larger proportion of the banks
in population centers of 25,000 or more than in the smaller places.
Banks in population centers of 1,000 to 5,000 and 5,000 to 25,000 had
more moderate changes than those elsewhere. Fewer of the banks in
these centers which gained deposits had increases of 20 percent or more,
and the percentage of those in which deposits declined by 8 percent or
more was also low. Table 36 shows the distribution of banks by per­
centage change in deposits and by population of center in which located.
In Table 37 commercial banks are grouped by the ratio of demand
deposits to total deposits. The table shows that of banks with in­
creases in deposits, those with lower ratios of demand deposits gained
more rapidly than those in which demand deposits predominate. How­
ever, a larger share of the banks with low ratios of demand deposits
experienced losses in deposits than was true for banks with high pro­
portions of demand deposits.
Table 38 shows distributions of commercial banks based on per­
centage changes in deposits and in loans. Increases both in deposits
and in loans were experienced by three-fourths of the banks in 1961-62
and by four-fifths in 1962-63. In about three-tenths of the banks
having increases both in deposits and loans the rate of increase in
loans fell below that for deposits. The number of banks in which loans
increased by 20 percent or more was nearly twice the number having
deposit increases at that rate. About one-tenth of the banks had in­
creases in deposits but decreases in loans; while a slightly smaller pro­
portion had declines in deposits but greater loans. The number of banks
with decreases both in loans and deposits was relatively small.
Distributions of mutual savings banks by percentage changes in
deposits and in loans are given in Table 39. Almost all mutual savings
banks had increases both in deposits and loans, and in less than onetenth of such banks was the percentage increase in loans less than that
of deposits.



74

FEDERAL DEPOSIT INSURANCE CORPORATION

I ncome

of

I nsured B

anks

Income in 1963. Total income of commercial and mutual savings
banks participating in Federal deposit insurance increased by 10.2
percent in 1963. Of the total income, amounting to $16,038 million,
approximately 87 percent was received by insured commercial banks.
In 1963 about 64 percent of the income was derived from loans, com­
pared with 62 percent in 1962.
Income of insured commercial banks. Total income of insured
commercial banks in 1963 was $13,978 million. Table 40 shows the
sources and disposition of income for these banks in 1963 and the two
preceding years. Each of the sources produced more income in 1963
than in 1962, with a gain of 21 percent in income from securities other
than United States Government obligations being the greatest per­
centage increase. Income taxes was the only item of disposition of
income to decline in 1963. Interest paid on deposits increased by 22
percent, reflecting larger time and savings deposits and higher rates
being paid.
Table 41 shows the percentage distribution of sources and disposi­
tion of total income of insured commercial banks in each of the three
years. Income from loans and from securities other than United States
Government obligations were the only items to contribute larger shares
of total income in 1963 than in 1962. Salaries and w
rages continued
to decline as a percentage of the total disposition of income, being
replaced in 1963 as the largest item by interest on deposits.
Table 40.

S o u r c e s a n d D is p o s it io n o f T o t a l I n 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 it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), 1961-1963
Amounts (in millions)
Income
1963

1962

1961

T otal in c o m e ........................................................................................

$13,978

$1 2 , 6 8 6

$11,778

Sources
Loans...................................................................................................
..........................................................
U. S. Government obligations
Other securities..................................................................................
Service charges on deposits...............................................................
Other current income.........................................................................
Recoveries, etc . 1 ................................................................................

8,672
2,176
921
729
468

7,718
2,093
759
681
968
467

7,009
1,902
629
630
900
708

Disposition
Salaries and wages.............................................................................
Interest on deposits...........................................................................
Other current expenses......................................................................
Charge-offs, etc. 2 ...............................................................................
Income taxes......................................................................................
Dividends to stockholders 3 ..............................................................
Additions to capital accounts...........................................................

3,284
3,464
2,966
884
1,227
993
1,159

3,074
2,845
2,670
837
1,256
941
1,063

2,899
2,107
2,435
935
1,406
895

1 ,0 1 1

1 ,1 0 1

1 Recoveries from assets previously charged off (except those credited to valuation reserve accounts)
profits on assets sold, and transfers from valuation reserve accounts.
2 Losses and other charge-offs (except those charged to valuation reserve accounts), and transfers
to valuation reserve accounts.
3 Includes interest on capital notes and debentures.
Note: Due to rounding, components may not add to total.
Detailed data: Table 114. pp. 152-153.




IN COM E OF INSURED B A N K S

Table 41.

75

P e r c e n t a g e D is t r i b u t io n o f S o u r c e s a n d D is p o s it io n o f T o t a l
I n 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 it e d S t a t e s
(S t a t e s a n d O t h e r A r e a s ), 1961-1963
Percent of total
income
1962

1963
T otal in c o m e ...................................................................................
Sources
Loans...................................................................................................
U. S. Government obligations..........................................................
Other securities...................................................................................
Service charges on deposits...............................................................
Other current income.........................................................................
Recoveries, etc . 1 .................................................................................
Disposition
Salaries and wages................. ...........................................................
Interest on deposits...........................................................................
Other current expenses......................................................................
Charge-offs, etc . 2 ...............................................................................
Income ta x e s.....................................................................................
Dividends to stockholders 3...............................................................
Additions to capital accounts...........................................................

1 0 0 .0

%

1 0 0 .0

62.0
15.6

%

60.8
16.5

6 .6

1961

6 .0

5.2
7.2
3.4

5.4
7.6
3.7

23.5
24.8

24.2
22.4

2 1 .2

2 1 .0
6 .6
1 0 .0

6.3
8 .8

7.1
8.3

7.4
8.4

1 0 0 .0

%

59.5
16.2
5.3
5.4
7.6
6 .0

24.6
17.9
20.7
7.9
11.9
7.6
9.4

1 Recoveries from assets previously charged off (except those credited to valuation reserve accounts),
profits on assets sold, and transfers from valuation reserve accounts.
2 Losses and other charge-offs (except those charged to valuation reserve accounts), and transfers
to valuation reserve accounts.
3 Includes interest on capital notes and debentures.

Selected operating ratios of insured commercial banks for 1963 and
the two preceding years are given in Table 42. The average rate of
income on United States Government obligations increased in both
1962 and 1963, as did the ratio of service charges to demand deposits.
The average rate of interest paid on time and savings deposits also in­
creased in both 1962 and 1963. Current operating expenses continued
to rise relative to current earnings. The ratios of net current oper­
ating earnings to total assets, and of dividends to total capital accounts,
both declined in 1962 and 1963.
As is shown in Table 43, one-third of the insured commercial banks
operating throughout 1963 had deposits of from $2 million to $5 mil­
lion. These banks employed one-fifteenth of the personnel, and held
Table 42.

S e l e c t e d O p e r a t in g R a t io 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 it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), 1961-1963
Item

1963

1962

1961

Average rate of income on loans..........................................................
Average rate of income on U. S. Government obligations................
Average rate of income on other securities.........................................
Ratio of service charges to demand deposits......................................
Average interest paid on time and savings deposits..........................
Current operating expenses to current earnings.................................
Income taxes to net profits before income taxes.................................
Net current operating earnings to total assets...................................
Net profits after taxes to total capital accounts.................................
Dividends to total capital accounts.....................................................

5.98%
3.40
2.93
.46
3.31
71.91
36.30
1.27

6.04%
3.24
2.95
.44
3.18
70.29
38.53
1.32
8.83
4.15

5.94%
3.08
2.90
.43
2.71
67.22
41.33
1.43
9.37
4.20

Detailed data: Table 115, pp. 154-155.




8 .8 6

4.09

76

FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 43.

D is t r i b u t io n o f I n s u r e d C o m m e r c ia l B a n k s O p e r a t in g

T h r o u g h o u t 1963 b y D e p o s it S iz e o f B a n k , a n d P e r c e n t a g e s of
S e l e c t e d B a n k in g T o t a l s in E a c h S iz e G r o u p

Size of group

Number
of
banks
(Dec. 31)

Number
of
employees
(Dec. 31)

Assets
(Dec. 20)

Net
current
operating
earnings

Net
profits
after
taxes

All banks......................................................

100.0%

100.0%

100.0%

100.0%

100.0%

Banks with deposits of—
Less than $1,000,000.....................................
$ 1 ,0 0 0 , 0 0 0 to $2 ,0 0 0 , 0 0 0 ...............................
$2,000,000 to $5,000,000...............................
$5,000,000 to $10,000,000.............................
$10,000,000 to $25,000,000...........................
$25,000,000 to $50,000,000...........................
$50,000,000 to $100,000,000.........................
$100,000,000 to 500,000,000.......................
$500,000,000 or more....................................

5.6
16.4
33.2
2 1 .1

14.6
4.4
2 .2
2 .0

.5

.4
1.9
6 .8
8 .1
1 2 .1

8.3
7.9
2 1 .1

33.4

.2
1 .2

5.1
6.9
10.3
7.1
7.2
2 0 .0

42.0

.2
1 .1

4.7
6.4
9.4
6.4
6.7
20.7
44.4

.2

1.3
5.2
6.7
9.2
6.3
6.5
2 0 .1

44.5

Detailed data: Table 111, p. 145; Table 118, pp. 160-161.

about one-twentieth of the assets. The largest one-half of 1 percent
of the banks, each of which held deposits of $500 million or more, had
one-third of the total employees and two-fifths of the assets.
Income of insured mutual savings banks. The income of mutual
savings banks insured by the Federal Deposit Insurance Corporation
increased by 10.7 percent in 1963. The increase of $199 million oc­
curred almost entirely in the income from loans. Table 44 shows the
amounts, and Table 45 the percentage distribution, of the sources and
disposition of income of insured mutual savings banks in 1963 and the
two preceding years.
T a b le 44.

S o u r c e s a n d D is p o s it io n o f T o t a l I n c o m e ,

I n s u r e d M u t u a l S a v i n g s B a n k s in t h e U n it e d S t a t e s , 1961-1963
Amounts (in millions)
Income
1963
Total income.......................................................................................
Sources
Loans...................................................................................................
U. S. Government obligations..........................................................
Other securities...................................................................................
Other current income 1 ......................................................................
Disposition
Salaries and wages.............................................................................
Dividends and interest on deposits..................................................
Other current expenses 1 ....................................................................
Charge-offs, etc. >...............................................................................
Income taxes 4 ....................................................................................
Additions to surplus accounts..........................................................

1962

1961

$2,060

$1,861

$1,709

1,562
154
204
56
84

1,366
156
206
47

1,213
152
206
42
96

127
1,482
165
84
23
179

1,334
152
90
18
147

86

120

113
1,148
146
98
16
187

1 Includes amounts classified as “ nonrecurring” income or expenses.
2 Recoveries from assets previously charged off (except those credited to valuation reserve accounts),
profits on assets sold, and transfers from valuation reserve accounts.
8
Losses and other items charged off (except those charged to valuation reserve accounts), and
transfers to valuation reserve accounts.
4 Includes franchise taxes computed on an income basis.
Note: Due to rounding, components may not add to total.
Detailed data: Table 121, pp. 174-175.




77

IN C O M E OF INSURED B A N K S

The business of mutual savings banks differs in several ways from
that of commercial banks. These differences are reflected in various
items of the sources and disposition of income. Loans, and securities
other than United States Government obligations, produce larger shares
of the income of mutual savings banks. Income from obligations of
the United States Government is of less importance and the almost
complete absence of demand deposits eliminates service charges on
checking accounts as an item of income. Mutual savings banks are
able to operate with a much smaller number of employees in relation
to the amount of deposits than are commercial banks. The mutual
form of organization, in which payments to depositors consist of both
dividends and interest, contributes to the importance of this item of
disposition of income. Income taxes constitute a much smaller item
than in the case of commercial banks.

T a b l e 45.

P e r c e n t a g e D is t r i b u t io n o f S o u r c e s a n d D is p o s it io n o f T o t a l

I n c o m e , I n s u r e d M u t u a l S a v in g s B a n k s i n t h e U n it e d S t a t e s , 1961-1963
Percent of total
Income
1962

1963

1961

T otal in c o m e ........................................................................................

1 0 0 .0

Sources
Loans...................................................................................................
U. S. Government obligations..........................................................
Other securities..................................................................................
Other current income 1 ......................................................................
Recoveries, etc . 2 ................................................................................

75.8
7.5
9.9
2.7
4.1

73.4
8.4

71.0
8.9

1 1 .1

1 2 .0

2.5
4.6

2.5
5.6

71.9

6 .2

6.4
71.7

67.2

8 .0

8 .2

8 .6

Disposition
Salaries and wages.............................................................................
Dividends and interest on deposits..................................................
Other current expenses 1 ....................................................................
Charge-offs, etc . 3 ...............................................................................
Income taxes 4 ....................................................................................
Additions to surplus accounts..........................................................

%

1 0 0 .0

%

1 0 0 .0

%

6 .6

4.1

4.8

1 .1

1 .0

1 .0

8.7

7.9

10.9

5.7

1 Includes amounts classified as “ nonrecurring” income or expenses.
2 Recoveries from assets previously charged off (except those credited to valuation reserve accounts),
profits on assets sold, and transfers from valuation reserve accounts.
5 Losses and other items charged off (except those charged to valuation reserve accounts), and trans­
fers to valuation reserve accounts.
4 Includes franchise taxes computed on an income basis.







PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE




B a n k A b s o r p t io n s A p pr o v ed

Table 101.

Table 103.

Table 104.

C o r po r a t io n

Description of each merger, consolidation, acquisition of assets, or assumption of
liabilities approved by the Corporation during 1963

N

Table 102.

by th e

um ber,

O f f ic e s ,

and

D

e p o s it s o f

B anks

Changes in number and classification of banks and branches in the United States
(States and other areas) during 1963
Number of banking offices in the United States (States and other areas), Decem­
ber 31, 1963
Grouped according to insurance status and class of bank, and by State or area
and type of office
Number and deposits of all banks in the United States (States and other areas),
December 20, 1963
Banks grouped according to insurance status and by district and State

Tabulations for all banks are prepared in accordance with an agree­
ment among the Federal bank supervisory agencies. Provision of
deposit facilities for the general public is the chief criterion for dis­
tinguishing between banks and other types of financial institutions.
However, trust companies engaged in general fiduciary business
though not in deposit banking are included; and credit unions and
savings and loan associations are excluded except in the case of a few
which accept deposits under the terms of special charters.




Branches include all offices of a bank other than its head office,
at which deposits are received, checks paid, or money lent. Banking
facilities separate from a banking house, banking facilities at govern­
ment establishments, offices, agencies, paying or receiving stations,
drive-in facilities and other facilities operated for limited purposes
are defined as branches under the Federal Deposit Insurance Act,
Section 3(o), regardless of the fact that in certain States, including
several which prohibit the operation of branches, such limited facili­
ties are not considered branches within the meaning of State law.

Commercial and stock savings banks include the following
categories of banking institutions:
National banks;
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;
Stock savings banks, including guaranty savings banks in New
Hampshire;
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;
Special types of banks of deposit: cash depositories in South
Carolina; a cooperative exchange in Arkansas; a savings and loan
company operating under Superior Court charter in Georgia; gov­
ernment operated banks in American Samoa, North Dakota, and
Puerto R ico ; a cooperative bank, usually classified as a credit
union, operating under a special charter in New Hampshire; a sav­
ings institution, known as a “ trust company,” operating under
special charter in Texas; an employes’ mutual banking association
in Pennsylvania; the Savings Banks Trust Company in New York;
and 17 branches of foreign banks which engaged in a general deposit
business in the continental United States, Puerto Rico, and Virgin
Islands.
Private banks under State supervision, and such other private
banks as are reported by reliable unofficial sources to be engaged in
deposit banking.

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 in­
cidental to real estate title or investment activities.




Mutual savings banks include all banks operating under State
banking codes applying to mutual savings banks.
Institutions excluded. Institutions in the following categories are
excluded, though such institutions may perform many of the same
functions as commercial and savings banks:
Banks which have suspended operations or have ceased to accept
new deposits and are proceeding to liquidate their assets and pay off
existing deposits;
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);
Morris Plan companies, industrial banks, loan and investment
companies, and similar institutions except those mentioned in the
description of institutions included;
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;
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;
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.

82

FEDERAL DEPOSIT IN SU RANCE CORPORATION

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition
of

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963

Name of bank, and type of transaction1
(in chronological order of determination)

No. 1— Chittenden Trust Company,
Burlington, Vermont
to merge with
The First National Bank of Montpelier,
Montpelier

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

54,307

10

10

6,327

1

Summary report by Attorney General, October 15, 1962
The Chittenden Trust Company, Burlington, Vermont, the largest bank compet­
ing in the Montpelier, Vermont area, with assets totaling $41.3 million, proposes
to merge with the First National Bank, with assets of $6.4 million, located in Mont­
pelier, Vermont.
Chittenden’s service area, covering a considerable portion of the State of Vermont,
is highly diversified, ranging from agricultural to residential and industrial. Chitten­
den’s present size is due in considerable measure to its six acquisitions of commercial
banks since 1954, including two banks previously acquired in 1962. First National’s
service area is the economically stable area of Montpelier, Vermont.
The effects of the proposed merger on competition would be: the elimination of
a competitor of Chittenden’s; the enhancement of Chittenden’s dominant position
in IPC deposits and loans and discounts in the Montpelier, Vermont area; the
control by the three largest banks in this area of nearly two-thirds of the IPC
deposits and loans and discounts, with seven banks sharing the remaining one-third
in these categories; the intensification of the stratification in size of holdings by
commercial banks in the area; the destruction of an alternative source of banking
services for common customers of the banks who do a substantial dollar amount
of business with First National; and the continuing growth of Chittenden through
the purchase of competitors.
The effect of the merger on competition would therefore be substantially adverse.
Basis for Corporation approval, January 17,1963
Chittenden Trust Company is the largest commercial bank in Vermont and
operates its main office and nine branches throughout the north and north-central
sections of the State. It recently obtained a branch in Montpelier, the location of
First National, through the acquisition of the Capital Savings Bank and Trust
Company. The present banking business of First National will be transferred to the
existing branch in Montpelier upon consummation of the merger.
First National has been experiencing problems which have resulted in poor earn­
ings in recent years and a loss for 1962. In addition, its two principal officers, who are
also directors of the bank, are over 70 years of age and the next ranking offi­
cer is expected to retire in two years. The bank’s problems are such that it is the
consensus of the directors of the bank, who own 53.4 percent of its stock, that if
the merger is not approved, the bank will be forced to liquidate. Thus, it appears
First National’s ability to offer competitive services and to function effectively
as a unit bank is limited. Further, First National is not as significant a competitive
factor in the Montpelier service area as its size would suggest. Its loan ratio is only
35 percent as compared to 59.4 percent for all Vermont insured commercial banks,




83

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

Table 1 0 1 . D esc r ip tio n
of

of

E a c h M erger, C o n so l id a t io n , A c q u isitio n

A ssets or A s s u m p t io n of L iab ilities A pproved b y t h e C orporation
D u r in g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

and 60.3 percent for the Chittenden Trust Company, and it does not offer such
common loan services as F H A improvement loans, instalment loans on consumer
goods and dealer financing, all of which are offered by the applicant.
Our investigation of the proposal disclosed no objection from any of the com­
peting banks, and bankers in the Burlington and Montpelier service areas felt that
the merger would have little effect on banking competition in the combined service
area. The increase in the applicant’s resources resulting from this merger would have
no unfavorable effect upon competition in the areas in which it presently operates.
It would still be only three-fifths the size of the largest bank in the State, a mutual
savings bank in Burlington, which obtains business throughout the northern half of
the State. With reference to savings banks, it should be noted that time deposits
are a most important aspect of the deposit structures of the commercial banks
operating in the Burlington-Montpelier service areas. Four-fifths of the aggregate
IPC deposits of the banks operating in the Burlington and Montpelier service areas
are time deposits. Thus, the competition provided by mutual savings banks, which
may grant unsecured and chattel mortgage loans in addition to real estate loans,
is a most important factor in the banking competition in the service areas involved.
The applicant will hold slightly less than one-fifth of the aggregate IPC deposits
of the banks operating in the Burlington-Montpelier service areas, and its Mont­
pelier branch will hold only 13.6 percent of the aggregate IPC deposits of the
banks operating in the Montpelier service area. There will remain competition
from two other well established and profitable banks in Montpelier and from seven
other banks in the Montpelier service area. In this connection it should be noted
that, after the merger, the population per bank in Montpelier will be 2,933 and
4,286 per bank in Washington County as compared to approximately 12,800 persons
per bank in the United States and 6,600 per bank in Vermont.
It is concluded that there is no tendency toward monopoly indicated, and that
the over-all effect of the merger on competition would not be unfavorable. The
improved management and broader investment range which will be accorded the
resources of First National by the applicant will benefit the public and therefore, it
is concluded that the merger which will solve the serious problems of First National
is in the public interest.

No. 2—The Central Jersey Bank and Trust Company,
Freehold, New Jersey
to merge with
The Farmers National Bank of Allentown,
Allentown

82,823

10

5,128

1

11

Summary report by Attorney General, November 8, 1962
The acquisition by The Central Jersey Bank and Trust Company, Freehold,
New Jersey of The Farmers National Bank of Allentown, New Jersey, both in
Monmouth County, would enhance further the dominant position of Central Jersey
in the county, which is attributable to several prior mergers in the past few years.




84

FEDERAL DEPOSIT IN SU RANCE CORPORATION

Table 10 1 . D e s c r ip tio n
of

of

E a c h M erger, C o n so lid a tio n , A c q u isitio n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved by t h e C orporation
D u r in g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

The proposed merger would eliminate another independent bank and would permit
Central Jersey to extend its present dominance in the eastern section of the county
to the western section. The merger would result in an adverse competitive effect in
the area involved.

Basis for Corporation approval, February 14,1963

The service area of Central Jersey Bank and Trust comprises the central and
eastern sections of Monmouth County from the area around Freehold eastward to
the Atlantic Coast. It has no offices west of Freehold. The service area of Farmers
comprises a small area surrounding Allentown in the extreme southwestern section
of Monmouth County, some 18 miles southwest of Freehold and about 10 miles
southeast of downtown Trenton. The closest Monmouth County banks to Farmers,
whose chief competition comes from Trenton and other Mercer County banks, are
in Freehold and Englishtown, the latter being about 20 miles to the northeast. Under
New Jersey banking law, a bank can establish branches only in the county in
which its main office is located and branches cannot be established in a municipality,
other than the main office location, if the main office or a branch of another bank
is located there, except by merger. Hence, the only means of entry of Central
Jersey Bank and Trust into Allentown is by merger with Farmers.
It was determined that there is virtually no competition between Central Jersey
Bank and Farmers that would be eliminated as a result of the merger. Also, Central
Jersey’s proportionate share of the IPC deposits and loans held by all Monmouth
County banks would increase only a modest 1.2 percent, it would rank about equal
with one other bank as second and third largest, and its competitiveness in its
present service area would not be altered to any significant degree. The chief benefit
to be derived by Central Jersey would be its entry into western Monmouth County,
and because of its much greater resources, larger lending limit, broader and more
specialized banking services in general, and more modern accounting facilities, it
should be able to provide stronger competition to the larger Trenton banks than
does the unit Farmers bank. There is no tendency toward monopoly involved, and
in view of the improved banking services and increased banking competition that
would obtain in the Allentown area, together with solution of the management
succession problem at Farmers, it was concluded that the merger would be in the
public interest.

No. 3— Everett Trust & Savings Bank,
Everett, Washington
to acquire the assets and assume
liabilities of
Bank of Lake Stevens,
Lake Stevens




28,969

4

1,047

1

5

85

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

T a b le
of

1 0 1 . D e sc r ip tio n of E a c h M erger, C o n so l id a t io n , A cq u is it io n

A s sets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

Summary report by Attorney General, February 14, 1963
This merger is between the largest and second smallest of the independent banks
in Snohomish County.
Since the prospectively acquired bank is only a minor banking factor in the
county, the effect of the merger on competition would not be significantly adverse.
Basis for Corporation approval, March 14, 1963
The acquisition of the assets and assumption of the liabilities of the Bank of
Lake Stevens by the Everett Trust & Savings Bank will have little effect on com­
petition in the area and will not represent a tendency toward monopoly. The com­
munities of Lake Stevens and Everett are separated by a distance of nine miles
and the two banks operate mainly within their own communities and the areas im­
mediately surrounding. There is some competition between the two banks but it is
regarded as of limited significance. The transaction will not change the relative
rank of the applicant among banks in its service area nor affect competition therein.
It is the expressed desire of the president and major stockholder of the Bank of
Lake Stevens to retire and dispose of his interest in the bank. There is reported
little likelihood of any other party or parties appearing on the scene willing and
able to continue the independent operation of so small a unit. The satisfactory
condition, capital structure, earnings record and management of the applicant, its
proximity to Lake Stevens and its interest in serving the area which has been
demonstrated by an application filed for a branch therein strongly suggest that the
effect of the subject proposal will be beneficial to the public interest.

No. 4— First-Citizens Bank & Trust Company,
Smithfield, North Carolina
to merge with
Carolina Industrial Bank,
Asheville

331,704

76

2,925

1

77

Summary report by Attorney General, February 6, 1963
The proposed merger of First-Citizens Bank and Trust Company, Smithfield,
North Carolina and Carolina Industrial Bank, Asheville, North Carolina, would not
appear to have significant adverse effects upon competition since First-Citizens
through a subsidiary owns 93.3 percent of the stock of Carolina Industrial. The
merger would thus give de jure recognition to Carolina Industrial’s de facto status.
Basis for Corporation approval, March 14,1963
The applicant, operating 76 offices, competes throughout most of the State of
North Carolina, though not presently in the trade area of Carolina Bank, its nearest
office being in Hickory, some 75 miles east of Asheville. There is no competition
between the banks that will be eliminated as a result of the merger.




86

FEDERAL DEPOSIT IN SU RANCE CORPORATION

T a b le
of

1 0 1 . D e s c r ip tio n of E a c h M erger , C o n so lid a tio n , A c q u is itio n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

The addition of the unit Carolina Bank to the applicant’s system of branches
will increase the latter’s proportionate holding of total deposits held by all North
Carolina banks by only 0.1 percent, which obviously would have no significant
effect on its present competitive standing in relation to the other large state-wide
branch systems. The applicant will gain entry to an area where it is not now
represented and it is here that the principal effect on competition will occur.
In Asheville, two of the State’s four largest banks are presently in direct com­
petition, operating four and six local offices, respectively. The entry of applicant
will introduce direct competition by the State’s third largest bank, but through only
one office. In addition, the fifth largest bank recently established a de novo branch
in Asheville. Carolina Bank, as to total resources, is by far the smallest bank in the
area and until recently it limited its operations to consumer credit financing and
the acceptance of time deposits. In the Asheville area the effect of the merger
would be to increase competition because the applicant with its much broader
range of banking facilities and services would be better able than is Carolina Bank
to compete with the other large banks. An increased lending limit, trust facilities,
and many other varied banking services would become directly available to the
customers of Carolina Bank. Furthermore, the number of individual banks from
which the public may choose to do its banking business will not be changed;
hence, there is no tendency toward monopoly.
In view of the improved banking services that would become available to the
customers of Carolina Bank and the increased competition that would result in the
Asheville area, it is concluded that the merger would be in the public interest.

No. 5— The County Trust Company, White
Plains, New York
to merge with
The Gramatan Safe Deposit Corporation,
Bronxville2

679,213
—

1

1

1

Summary report by Attorney General, February 28, 1963
By virtue of its recent merger with The Gramatan National Bank and Trust
Company of Bronxville, The County Trust Company owns 9,995 of the 10,000 out­
standing shares of The Gramatan Safe Deposit Corporation. The proposed merger
will therefore involve only a change in form rather than substance. Accordingly, we
find that no anti-competitive effects will result from the merger.

Basis for Corporation approval, March 21,1963
The County Trust Company acquired all but directors’ qualifying shares of The
Gramatan Safe Deposit Corporation, whose operations are limited to the safe
deposit business, through the merger on December 31, 1962 of The Gramatan Na­
tional Bank and Trust Company of Bronxville, New York. The objective of the
subject proposal is the greater efficiency and economy of operation of an activity




87

B A N K ABSORPTIONS APPROVED BY TH E CORPORATION

T a b le
of

1 0 1 . D es c r ip tio n of E a c h M erger , C o n so l id a t io n ,. A c q u is it io n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

that had been conducted through a separate entity although under the control of
the merged national bank. The County Trust Company prefers to carry on the
operations of its safe deposit business as a department of the bank and has taken
similar action in connection with previous merger transactions. Favorable findings
have been made on the seven factors required to be considered by the Corporation
and it is concluded that the merger is in the public interest.

No. 6 —Titusville Trust Company,
Titusville, Pennsylvania (change of title to
The Pennsylvania Bank and Trust Company)
to merge with
Warren Bank and Trust Company,
Warren

30,896

2

15,061

5

3

Summary report by Attorney General, February 28,1963
The proposed merger of the Titusville Trust of Titusville, Pennsylvania with
the Warren Bank and Trust Company of Warren, Pennsylvania would tend to
bring about a greater concentration of banking facilities in Crawford and Warren
Counties and to this extent would have a somewhat adverse effect upon com­
petition.

Basis for Corporation approval, April 11, 1963
Located 39 miles apart, there is virtually no competition between the merging
banks under this proposal that will be eliminated. The Warren Bank with total re­
sources of slightly more than $15 million is faced with strong competition from its
local competitor, The Warren National Bank, which has total resources of approxi­
mately $50 million. The union of the Warren Bank with the applicant will decrease
this disparity in size, and in the Warren service area should result in substantially
increased competition. In the Titusville area, the merger should have no unfavor­
able competitive effects, and throughout the broad service area, competition should
be stimulated.
The merger will correct a management succession problem now faced by the
Warren Bank, and the greater resources and larger lending limit of the resulting
bank should prove beneficial to the customers of the bank being absorbed.
There is no tendency toward monopoly involved, and in view of the more ag­
gressive policies and increased banking competition that would obtain in the
Warren area, together with the solution of the management succession problem at
Warren Bank, it was concluded that the merger would be in the public interest.

No. 7— Berks County Trust Company,
Reading, Pennsylvania
to merge with
Reamstown Exchange Bank,
Reamstown




189,052

10

3,518

1

11

88

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 10 1 . D es c r ip tio n
of

of

E a c h M erger , C o n so l id a t io n , A c q u is itio n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

Summary report by Attorney General, March 8, 1963
Metropolitan Reading, Pennsylvania, the service area of applicant, Berks County
Trust Company, is located approximately 10 miles from the service area of the
acquired bank, Reamstown Exchange Bank, which area encompasses three small
towns south of Reading. They are Reamstown, Ephrata, and Denver, Pennsylvania.
Applicant is one of three banks competing within the Reading service area. With
its 11 offices and $189 million in assets, applicant controls over 54 percent of
the banking business in its service area. The acquired bank, with 8 percent of the
banking business, is the smallest of four local commercial banks operating within
its service area. By combining the service area of the applicant and the acquired
bank, it is noted that applicant is still the largest bank and comprises 48.5 percent
of the market and that the acquired bank remains the smallest bank and com­
prises but 0.6 percent of the market. Viewed on this basis it would appear that
only a degree of competition is affected by the acquisition. But the effect of the
merger on competition in the northeast section of Lancaster County, Pennsylvania,
the service area of the acquired bank, may be adverse since a branch of a bank
with total assets more than four times greater than the combined total of assets
of the three remaining local banks is brought into the market. Not only may the
applicant, because of its size, be able to dominate banking within this area, but also
this merger may serve as a precedent for future acquisitions within this service
area, so that all local banks may be eliminated. On the basis of this analysis, it would
appear that the effect of this merger on competition may be adverse.
Basis for Corporation approval, April 18, 1963
The service area of Berks County Trust Company comprises all of Berks County
and does not extend to any significant degree into the service area of Reamstown
Exchange Bank which is confined to a small area surrounding Reamstown in the
northeastern part of Lancaster County. Hence, there is little, if any, competition
between the two banks that will be eliminated as a result of the merger. Berks
County Trust is already by far the largest bank in Reading, as well as Berks
County, and this position has been attained largely through aggressiveness which
dealt not only with banking matters but with the promotion and betterment of the
community as well. The addition of the one office and relatively modest resources
of Reamstown Exchange Bank to Berks County Trust’s operations will not affect
competition in Berks County where all of the latter’s present ten offices are located.
Any competitive effects of the merger will be felt in the northeastern section of
Lancaster County, more particularly the Reamstown area, and here the merger
should tend to stimulate competition with the other larger banks in that part of the
county as well as with the substantially larger banks in the city of Lancaster (20
miles southwest of Reamstown), the seat and principal trading center of Lancaster
County.
The entry of Berks County Trust into Reamstown and northeastern Lancaster
County where it is not now represented will provide that area with a much broader




89

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

Table 1 0 1 . D es c r ip tio n
of

of

E a c h M erger , C o n so l id a t io n , A c q u is itio n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

range of banking services than are now being provided by the unit Reamstown
Exchange Bank. There is no tendency toward monopoly involved, and in view of
the improved banking services that would obtain in the Reamstown area, together
with the solution of a pressing management problem at Reamstown Exchange Bank,
it was concluded that the merger would be in the public interest.

No. 8 — Lake County State Bank,
Baldwin, Michigan (change of title to
Lake-Osceola State Bank)
to merge with
Luther State Bank,
Luther

3,532

1

1,737

3

2

Summary report by Attorney General, February 15,1963
The Lake County Bank, with total assets of $3,531,500, total deposits of $3,102,200,
and net loans and discounts of $1,859,100, proposes to absorb the two banking offices
of the Luther State Bank. The latter bank has total assets of $1,736,700, total
deposits of $1,557,400, and net loans and discounts of $747,900. The banks are, at
the present time, independent in form only as there is a large percentage of common
ownership and management.
The merger would result in a single banking system serving Lake County and
would solidify the relationship between the banks to the point where a separation
by a stock sale and the resumption of effective competition would be virtually
impossible. However, in view of the lack of competition between the merging
banks and their relatively small size, the effect on competition would not be
significantly adverse.
Basis for Corporation approval, April 25, 1963
The two banks involved in this proposal are the only two banks in Lake County,
Michigan although they serve essentially different service areas, and there is
virtually no competition between them that would be eliminated as a result of the
consolidation. Lake County is sparsely populated, with approximately four-fifths
of its land area in woodland; hence, its needs can be adequately served by one
bank. There will be no reduction in the number of banking offices, so that no im­
pairment should occur in convenience and service to the public. Competition is
provided to a degree by much larger banks in counties surrounding Lake County,
and the more aggressive policies of the applicant and the larger resources of the
resulting bank should tend to increase, somewhat, competition with these banks.
Both banks have been affiliated for many years through common ownership by
five shareholders, who own 71.4 percent of the outstanding stock of the applicant
and 73.8 percent of the stock of Luther Bank, and three of these five shareholders
serve on the five-member board of the applicant as well as the seven-member board
of Luther Bank. It appears, therefore, that the consolidation would merely formal­
ize an existing relationship and state of affairs.




90

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

T a b le
of

1 0 1 . D esc r ip tio n of E a c h M erger , C o n s o l id a t io n , A c q u isitio n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

There appears to be no tendency toward monopoly involved, and in view of the
benefits which will accrue to the residents of Lake County as a result of the
consolidation and the more effective competition that the resulting bank will be able
to provide its larger competitors, it is concluded that the proposal is in the
public interest.

No. 9— Litchfield State Savings Bank,
Litchfield, Michigan
to consolidate with
The First State Bank of Camden,
Camden

3,450

2

1,427

3

1

Summary report by Attorney General, March 21, 1963
The Department of Justice is of the opinion that the proposed consolidation
would not have an adverse effect on competition.
Litchfield State Savings Bank has assets of $3,450,000, deposits of $3,094,000, and
loans of $1,663,000. Its head office is in Litchfield, Michigan, which has a population
of 993 persons, and it has one branch in Hanover, Michigan, 15 miles northeast of
Litchfield. The First State Bank of Camden is located in Camden, Michigan, which
has a population of 434 and is 22 miles south of Litchfield. The Camden bank has
assets of $1,427,000, deposits of $1,253,000, and loans of $767,000. Each of the con­
solidating banks has recorded substantial growth in the past decade without benefit
of mergers or other acquisitions.
Because of the rural character and sparse population of the areas served by the
consolidating banks, each is in large part isolated from competition in its main
service area, and there is little if any competition between the applicants. There­
fore, execution of the proposed consolidation would not appear to have the effect of
eliminating substantial competition between the merging banks. The resulting bank
would still be substantially smaller than five of the other seven banks which derive
some banking business from the main areas now served by the consolidating banks,
and the remaining two institutions would each be about 70 percent of the size
of the resulting bank.
Basis for Corporation approval, May 17, 1963
The proposed consolidation involves two small banks operating in southern
Michigan, just north of the Indiana-Ohio lines. The banks have been commonly
owned and managed since the beginning of the year. However, the main offices of
the two banks are 22 miles apart and there was no significant competition between
them even before they became commonly owned.
The consolidating banks are the smallest of six banks operating in their service
areas and, although the relative competitive ability of the consolidating banks will
be slightly enhanced, the resulting bank will still be the smallest bank in the
combined service area.




91

B A N K ABSORPTIONS APPROVED BY TH E CORPORATION

T a b le
of

1 0 1 . D escrip tio n of E ac h M erger , C o n so l id a t io n . A c q u is itio n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued

Resources
(in
thousands
of dollars)

Name of bank, and type of transaction1
(in chronological order of determination)

Banking offices
In
operation

To be
operated

The consolidation, which will result in increased competition, will bring larger
lending limits and broader banking services to the service areas of both banks, but
particularly to the Camden area, and, thus, is concluded to be in the public interest.

No. 10— Hamlin Bank and Trust Company,
Smethport, Pennsylvania
to merge with
Kane Bank and Trust Company,
Kane

8,217

2

8,163

4

2

j
!

Summary report by Attorney General, May 9,1963
The proposed merger of the Hamlin Bank and Trust Company, Smethport, Penn­
sylvania and the Kane Bank and Trust Company, Kane, Pennsylvania would not
appear to have a significant adverse effect upon competition in the affected area
since the extensive interlocking of stockholders and directors between the two
banks would appear to compromise whatever independent competitive activity they
would otherwise manifest. Moreover, they are located in towns several miles apart
and compete with much larger banks.

Basis for Corporation approval, June 14, 1963
Both banks in this proposal are located in McKean County, Pennsylvania, a
sparsely populated section of the State in which, due to the hilly and heavily
forested terrain, there is limited growth potential, except possibly in the field of
recreational facilities. Kane is situated 26 miles southwest of Smethport and the
only overlapping of the service areas of the two banks occurs on the highway
leading from Kane to Mount Jewett, where Hamlin Bank has a branch, a distance
of 11 miles. However, the amount of business each bank derives from the
service area of the other is modest in relation to total volume and it appears that
there is no significant competition which would be eliminated as a result of the
merger.
The Hamlin Bank and Kane Bank, which are about equal in size, are presently
the two smallest of four banks competing in the combined service areas (McKean
County), being approximately one-seventh the size of their largest competitor,
The Warren National Bank, Warren, which has a branch in Kane. The second
largest bank operating in the area, Producers Bank and Trust Company, Bradford,
is approximately three-fifths larger than either Hamlin Bank or Kane Bank and it
operates a branch at Smethport. The bank to result from this merger would be
slightly more than one-fifth larger than Producers Bank but still substantially
smaller than the Warren Bank, less than one-third its size. With only limited growth
potential in prospect for the area, it appears that the merger would result in a better
balanced banking structure in McKean County and tend to increase competition.
The merger of the two banks would solve a management problem now facing
Kane Bank and would permit greater efficiency in operations for both banks.




92

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

T a b le
of

1 0 1 . D e s c r ip tio n of E a c h M erger , C o n so lid a tio n , A c q u is itio n

A ssets or A s s u m p t io n of L ia b ilitie s A pproved b y t h e C orporation
D u r in g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

Probably most important, however, is that the merger would enable the resulting
bank to challenge more effectively the two larger banks in the area, especially the
Kane Branch of the Warren National Bank.
There is no tendency toward monopoly involved, and in view of the improved
banking services that would obtain in the area, more particularly Kane, together
with the solution of the management problem now facing Kane Bank, is con­
cluded that the merger would be in the public interest.

No. 11—Adairville Banking Company,
Adairville, Kentucky
to acquire the assets and assume
liabilities of
The Peoples Bank,
Adairville

764

1

835

1

1

Summary report by Attorney General, April 10,1963
While both banks are located in the same city, they are very small institutions,
and the chairman of the board of the acquiring bank has a substantial stock
holding in the acquired bank. Other banks in nearby towns appear to be in a
position to serve some of the needs of the people in Adairville. On balance, there­
fore, it does not appear that the proposed transaction will have an adverse effect
on competition to a significant degree.

Basis for Corporation approval, June 26, 1963
The small community of Adairville, which depends largely on agricultural pur­
suits for its support, has shown little growth from a population or economic stand­
point. Both of the participating banks are small, and their total resources and legal
lending limits preclude financing of many moderate local credit demands. For this
reason, a sizable portion of the local potential banking business has been attracted
to banks in the neighboring towns. The demise of the executive officer of long stand­
ing at Peoples Bank in 1962, created a management problem at the bank, since its
size and relatively small earnings preclude employment of a satisfactory replace­
ment.
Although consummation of the proposal will eliminate one of the local banks, the
resulting bank with its expanded resources and larger lending limits should be in
a position to more adequately serve local needs and to compete more effectively
in its service area. Furthermore, the management succession problem confronting
Peoples Bank will be satisfactorily resolved. There will be no tendency toward
monopoly as the resulting bank will still be the smallest of the five commercial
banks competing in its service area from the standpoint of both size and lending
capacity. Therefore, it is concluded that subject proposal will be beneficial to the
public interest.




93

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition
of

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

No. 12— State Bank and Trust Company,
Greenwood, South Carolina
to merge with
The Bank of Barnwell,
Barnwell

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

67,682

20

21

4,270

1

Summary report by Attorney General, M ay 24, 1963
The applicant is one of the largest banks operating in the State of South
Carolina, having 20 offices and over $67 million in total assets. By merging the
Bank of Barnwell, applicant will eliminate the only bank serving the Barnwell,
South Carolina area and will add a sixth independent bank to its list of acquisitions
throughout the State during the past 10 years. This elimination is merely another
in a series of eliminations of independent banks by state-wide chains in South
Carolina. Therefore, the effect of the merger on competition may be adverse.

Basis for Corporation approval, June 26,1963
State Bank operates 20 offices over an area of South Carolina that extends
westward and southwestward from Columbia, the capital and approximate geo­
graphic center of the State. It is the fourth largest bank in the State and competes
with the three largest at several locations, principally Columbia and Anderson. The
Barnwell Bank operates only one office and its relatively small service area is
limited to Barnwell and the territory immediately surrounding in the centralsouthwestern section of the State. There is no overlapping of the service areas and
it was determined that there is no competition between the two banks that would
be eliminated as a result of the merger.
Of the aggregate IPC deposits held by all banks on December 31, 1962 with
which State Bank is in direct competition, it held 10.7 percent, as compared to more
than 45 percent held by the largest bank and nearly 25 percent by the second
largest. Following the merger, State Bank will hold 11.3 percent of the total, based
on December 31st figures, and its position as the State’s fourth largest bank will not
be changed. Also, except for a modest increase in its lending limit, there will be no
significant change in its present competitive ability. The principal competitive
effects of the merger will occur in the Barnwell area where the Barnwell Bank is
the largest among six banks, though not significantly larger than the second and
third largest. The entry of the applicant into this area should tend to stimulate
competition among the banks represented there, all of which are firmly established.
The chief executive officers of these banks offered no objections to the proposal.
Three of Barnwell Bank’s four directors, owning 94.5 percent of its outstanding
stock, are also directors of State Bank, and their decision to merge with the latter
in order to provide for continuity of management and to bring improved banking
services to the Barnwell community was a logical step. The improved services in
Barnwell will be realized principally from an agricultural department, trust
facilities, and an enlarged lending limit.
There is no tendency toward monopoly involved and it is concluded that the
merger would be in the public interest.




94

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

No. 13— The Lucas County Bank,
Toledo, Ohio (change title to
The Lucas County State Bank)
to merge with
The State Bank of Toledo Company,
Toledo

Resources
(in
thousands
of dollars)

Banking offices
In
operation

24,241

4

14,941

To be
operated

7

3

Summary report by Attorney General, May 8,1963
Commercial banking in Toledo is presently carried on by six institutions. The
three largest banks have a total of 92.6 percent of the IPC demand deposits,
85.1 percent of the IPC time deposits, and 88.2 percent of the loans held by the
six banks. The merging banks are presently the smallest of these six, having in
combination 4.6 percent of the IPC demand deposits, 7.9 percent of the IPC
time deposits, and 6.8 percent of the loans held by the six area banks. The resulting
bank will be substantially smaller than the three largest banks and only slightly
larger than the bank presently fourth in size.
Both the downtown area, where the head offices of the merging banks are
located, and the outlying areas will continue to have alternative banking sources
after the merger. In view of the size of the three largest banks in relation to the
merging banks, and the relatively minor displacement the merger will have on the
existing banking structure in the area, we believe the proposed merger will have
adverse effects on competition but not to a substantial degree.

Basis for Corporation approval, June 26, 1963
The merger of The Lucas County Bank and The State Bank of Toledo will
reduce the number of banks operating in the Toledo area from six to five but will
not reduce the number of banking offices (45), or affect the availability of banking
services. The merging banks are the two smallest banks in Toledo, being far over­
shadowed by the three largest which in the aggregate hold approximately 90
percent of the IPC deposits held by all banks in the area. The Lucas County
Bank and State Bank, since their inception, have specialized in consumer financing
and have competed chiefly in this field; however, the elimination of this com­
petition will not have significant competitive effects because the larger Toledo
banks also operate consumer loan departments which compete vigorously for this
type business.
Following the merger the resulting bank will be the second smallest of five
banks remaining in the service area. With a much larger lending limit, the feasibility
of automation, and other improvements in facilities and services, the merged bank
will be better able to compete with the three much larger banks in Toledo.
It is concluded, in view of the stronger competitive ability the merged bank
will have, and the resultant improvement in its facilities and services, with no
tendency toward monopoly involved, the merger would be in the public interest.




95

BAN K ABSORPTIONS APPROVED BY TH E CORPORATION

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition
of

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

No. 14—Bank of Crewe,
Crewe, Virginia
to merge with
The National Bank of Crewe,
Crewe

Resources
(in
thousands
of dollars)

Banking offices
In
operation

6,388

2

1 ,8 8 8

To be
operated

1

2

Summary report by Attorney General, May 27,1963
The proposed merger must be viewed in light of the recent changes made in
Virginia’s Branch Banking Law by the 1962 Session of the Virginia General
Assembly. These changes permit a bank to operate in several counties and to
acquire banks located in other counties. It is expected that the new amendments
will drastically change the banking situation in Virginia.
The essence of the proposed merger is that two rural banks located about 50
miles southwest of Richmond and about 45 miles west of Petersburg propose to
merge in order to retain complete local ownership and management. The merger
would of course eliminate all competition between two competing banks but other
banks remain to serve the general area in which these banks operate. It does
appear, therefore, that the proposed merger would have an adverse effect upon
competition in the area but not to a substantial degree.
Basis for Corporation approval, June 26, 1963
This proposal will combine the fourth largest with the smallest of 11 banks in
the Crewe service area, resulting in a bank which will be third largest among
ten, when measured in terms of IPC deposits. The main office quarters of the two
banks are adjoining and following the merger will be combined into one unit,
because the present quarters of each bank are inadequate and separate remodel­
ing is not feasible. Although the existing competition between the two banks will
be eliminated as a result of the proposal, National has been rather ineffective
in this respect in the past, as indicated by its lack of growth in recent years, com­
pared to the steady growth of the applicant, which has been an aggressive com­
petitor with the other banks in the area.
The town of Crewe has a population of only about 2,000 which has been de­
clining in recent years. It is located in an area that is classified as “depressed,” and
one which is in danger of losing its principal industry. Agricultural production
in the rural areas is also declining, and these economic factors have hampered
the earning capacity of the two banks, especially National. The merged institu­
tion will be able to improve this situation through economies in operation and
improved banking quarters. Moreover, a complete and separate consumer loan
department will be operated and a farm department will be installed. The present
loan limit of National of $12,500 is the smallest in the area and has been in­
adequate, both as to service and competitiveness, whereas the loan limit of the
resulting bank will be $78,000.
It is concluded that these advantages, as measured by the banking factors, out­
weigh any disadvantages that may result from the elimination of the limited




96

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition
of

A ssets or A ss u m p tio n of L iabilities A pproved by t h e C orporation
D u ring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

amount of competition provided by the small bank. The area of competition is
not limited to the small town of Crewe alone, but extends over a much broader
area, which includes three banks larger than the applicant. The resulting bank
which will rank third, holding less than 15 percent of the IPC deposits held by
the banks in the area, will provide increased competition to others in the area.
There appears to be no need for two banks in Crewe, especially when its economy
is declining, and it is believed that the stronger bank which will emerge from
this proposal can better serve the community.
With numerous alternate banking locations easily accessible, there is no tendency
toward monopoly involved, and it is concluded the merger is in the public interest.

No. 15— The Reeves Banking & Trust Company,
Dover, Ohio
to merge with
The Citizens National Bank of New Philadelphia,
New Philadelphia

28,996

6

12,409

2

8

Summary report by Attorney General, January 31,1963
There is substantial actual and potential competition between the largest and
third largest of five banks in these twin cities which would be eliminated by the
merger. It seems apparent that a concentration of banking facilities would be
encouraged and that the resulting bank would enjoy a position of dominance in
the area. Consequently the effect of this merger on competition would be seriously
adverse.
Basis for Corporation approval, July 5,1963
The applicant and Citizens National are located in the twin cities of Dover-New
Philadelphia in northeastern Ohio, approximately 25 miles southeast of Canton
and 40 miles south of Akron. The banks rank first and third, respectively among
the five banks operating in the two cities. The merger is prompted because of
the absence of management succession at Citizens National where the President is
72 years old. Attempts to solve the problem by hiring management from outside
the bank and through merger with other banks in Dover-New Philadelphia have
been unsuccessful. This transaction appears to be the most practical solution to
the problem.
The record of the applicant as a leader in the introduction of new services and
banking facilities in the area, including consumer lending, expanded trust facilities,
and drive-in and parking accommodations, demonstrates its ability and willingness
to fulfill its responsibilities to the community. Although both Dover and New
Philadelphia have a well diversified industrial base, the clay pipe industry and strip
coal mining, once thriving activities in the southern part of Tuscarawas County,
are moribund and attendant unemployment is heavy. The larger resources of the
applicant with its aggressive and progressive policies should enable it, more ef-




97

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

T a b le
of

1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

fectively than could a combination of smaller banks, to attract and support new
industry needed for the economic revival of the area.
Although some competition between the merging banks will be eliminated as a
result of the merger, concern is mitigated in view of the very conservative policies
of Citizens National— the ratio of its loans to assets is by far the smallest of the
five banks in the area and only recently has it seriously solicited instalment loans.
Another factor diminishing concern about the elimination of Citizens National is
that in Dover-New Philadelphia, the population per bank is 5,100, after the merger
it would be 6,400, as compared to 16,800 per bank for the State of Ohio. Further,
the net earnings of the five banks in the area range from approximately one-half
to slightly less than two-thirds the average for all insured banks in Ohio. The
three other remaining banks in the area, all well established, expect to compete
successfully with the applicant. Since time deposits represent approximately threefifths of the aggregate deposits held by the five banks in the twin cities, the banks
are subject to strong competition from two savings and loan associations in Dover,
one in New Philadelphia and three others in Tuscarawas County. The larger re­
sources of the applicant should also enable it to provide more effective com­
petition to the three larger banks in Canton which solicit business in Tuscarawas
County.
In view of the competition that will remain among the banks in the area, as
well as that offered by the savings and loan associations, no tendency toward
monopoly is indicated. It is concluded that the merger which will solve the
management problem at Citizens National and enable the applicant to attract
and support needed industrial expansion is in the public interest.

No. 16— The Northwestern Rank,
North Wilkesboro, North Carolina
to merge uith
The Bank of Burlington,
Burlington

166,452

48

2,691

1

49

Summary report by Attorney General, M ay 31,1963
Northwestern Bank operates 33 of the 62 banking offices located in its primary
service area which comprises the greater portion of western North Carolina and
during the past several years has pursued a policy of expansion.
The Bank of Burlington is a small bank facing competition from some of the
largest banks in North Carolina but not from Northwestern Bank. Thus the pro­
posed merger would not have substantial competitive effects. However, it does
represent another step in the elimination of small banks in North Carolina by
means of acquisitions on the part of the few large banks in the State.




98

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

T a b le 1 0 1 . D escription of E ach M erger. C onsolidation , A cquisition
of

A ssets or A s s u m p t io n of L iabilities A pproved by th e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

Basis for Corporation approval, July 11,1963
Northwestern operates a branch system consisting of 48 offices which serve
western, northwestern and central North Carolina, from Madison on the east to
Asheville on the west. Its closest office to Burlington Bank is at Madison, some
50 miles to the northwest of Burlington. There are no depositors or borrowers
using the facilities of both banks and neither bank derives business from the
service area of the other; hence, there is no competition between them that will
be eliminated as a result of the proposal.
Northwestern, ranking as North Carolina’s fifth largest bank, both as to total
deposits and number of banking offices, holds 4.3 percent of the aggregate deposits
held by all banks in the State. It is in direct competition at various locations with
the State’s four largest banks, which respectively hold 23.1 percent, 16.1 percent,
8.4 percent, and 7.9 percent of the aggregate deposits held by all banks in the
State. Northwestern’s proportionate share of the State’s total banking deposits
would be increased by less than 1 percent as a result of the merger, and aside from
a slightly increased lending limit, its competitiveness in the areas it presently serves
would remain unchanged.
Burlington Bank, with only one office, is in direct competition with five offices of
the State’s two largest banks; namely, Wachovia Bank & Trust Company and
North Carolina National Bank. Based on total deposits in the Burlington service
area, of which it holds only 5.2 percent, Burlington Bank represents a very small
portion of the competition. By replacing Burlington Bank’s sole office with a
branch of Northwestern, competition in that area would be substantially increased,
because the latter, with its much greater resources, larger lending limit, and much
broader range of banking services, is in a position to provide greater competition
to the State’s two major branch banking systems. The number of individual banks
available to the public in Burlington will not be changed. Additional services that
Northwestern can provide to the customers of Burlington Bank cover virtually
every phase of commercial banking and will include the introduction of trust de­
partment facilities, a larger lending limit, and an agricultural department which
publishes a monthly farm letter.
There is no tendency toward monopoly involved, and in view of the stronger
bank which will emerge in Burlington as a result of this proposal and its ability to
better serve the community, it is concluded that the merger is in the public interest.

No. 17—The Connecticut Bank and Trust Company,
Hartford, Connecticut
to merge with
The Union Bank and Trust Company of New London,
New London2




528,077

32

8,072

1

33

99

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A s s u m p t io n of L iabilities A pproved by t h e C orporation
D u ring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

Summary report by Attorney General, June 26, 1963
Union is one of two relatively small banks competing with two branches of
Hartford National, Connecticut’s largest bank in New London. It also competes
to an extent with a branch of the Connecticut Bank, located in nearby Groton
and another branch of the Connecticut Bank located in Norwich, about 11 miles
north of New London. Thus a degree of competition between the merging banks
would be eliminated.
Although the merger would not materially change the position of the Con­
necticut Bank it would result in the elimination of one of two independent banks
in New London and leave the remaining small bank to compete on an unequal
basis with Connecticut’s two largest banks, both having entered New London by
acquiring local banks.
W e are therefore of the view that the effect of the proposed merger on com­
petition would be adverse.

Basis for Corporation approval, July 18, 1963
The merger would combine the second largest commercial bank in Connecticut,
headquartered in Hartford with total resources of $528 million, with the smaller
of two unit banks (total resources $8 million) located in New London, 45 miles
to the southeast.
The regional field of competition of the applicant would continue for the result­
ing bank. The applicant’s primary service area is Hartford, where it has 8 offices,
but the other 24 offices are so diffused as to cover some three-quarters of the area
of Connecticut, giving representation in 7 of the 8 counties. Its $356 million of
IPC deposits ranks second in size to the $403 million IPC deposits of Hartford
National Bank and Trust Company which has headquarters and 5 of its 29
offices in Hartford. The acquisition of Union Bank’s $5.3 million of IPC deposits
would not noticeably alter the existing size relationships on a State-wide basis,
nor in the Hartford area where the applicant would remain slightly smaller than
the State’s largest commercial bank. The proposal will extend the applicant’s
service area into New London where the Hartford National Bank and Trust
previously acquired 2 branches by mergers and where these offices now hold almost
two-thirds of the aggregate IPC deposits of New London’s commercial offices.
The applicant is presently barred from de novo branching into New London
under State law.
Union Bank has not demonstrated the same degree of ability as The Winthrop
Bank and Trust Company of New London to compete with the existing branches of
the large out-of-town commercial bank. The directors of Union Bank seek this
merger as a solution to a problem of management succession, as well as a means
of enhancing its capacity for equitable competition by enlarging both commercial
and trust services. As a branch of the applicant, Union Bank would have insured
status and expanded deposit services to include time and savings accounts; greater




100

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 101. D escription
of

of E ach M erger, C onsolidation , A cquisition
A ssets or A ss u m p tio n of L iabilities A pproved by t h e C orporation

D u ring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

capacity for lending, including consumer credit which is not presently being
developed; and a broader range of trust services.
The banks proposing to merge are located in separate primary service areas with
the nearest office of the applicant being 5 miles distant from Union Bank in an
area of dense population. Thus, any existing competition between the participating
banks to be eliminated by this proposal would be minimal. In addition to solving
several specific problems of Union Bank involving banking factors, the proposal
should increase banking competition in the New London area but in the broader
areas would have no noticeable effect and, thus is concluded to be in the public
interest.

No. 18— Bank of Louisville,
Louisville, Kentucky (change title to Bank of LouisvilleRoyal Bank and Trust Company)
to merge with
Royal Bank and Trust Company,
Louisville

28,890

5

50,259

7

12

Summary report by Attorney General, July 8, 1963
The proposed merger of the Bank of Louisville, Louisville, Kentucky and the
Royal Bank and Trust Company, Louisville, Kentucky would have a significant
adverse effect upon competition in the Jefferson County, Kentucky area.
An important banking source to the small individual and business banking cus­
tomer would be eliminated by the merger .The present high concentration in com­
mercial banking in the area would be augmented. Competition between the banks
would be eliminated. Finally, the two small remaining banks may decide to unite
with each other or other banks to effectively compete.
Basis for Corporation approval, August 1,1963
This proposal involves the merger of the Royal Bank and Trust Company, the
fifth largest of the nine banks in the Jefferson County service area, into the Bank
of Louisville, the sixth largest. The resulting bank will be the county’s fifth largest
institution, holding an indicated 7.2 percent of IPC deposits and considerably
smaller than the next largest bank, holding 11.4 percent. Royal’s seven existing
offices, plus one approved but not yet opened branch, will be continued as branches
of Louisville Bank which presently operates five offices.
Both of the participating banks had their origin in industrial banking and have
gradually widened their operations to encompass full commercial powers, although
Royal remains largely specialized in the consumer field, some 60 percent of its loans
being of the instalment type as compared to Louisville Bank’s 43 percent. Instal­
ment lending, nevertheless, is common in local banks and there are, furthermore,
numerous non-bank institutions in the area which extend such loans, indicating that
there will remain ample alternative sources of such credit in the community. Branch
banking by all but one of the downtown banks is such that all serve virtually every
part of the county, and the two banks participating in this merger presently compete




101

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition
of

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

throughout the area, however, to a limited degree. Louisville Bank is faced with a
management continuity problem which the proposal to merge is in part designed to
solve. The proximity of alternate banking locations and the practical effect of the
proposed merger which would place two of the county’s smaller banks on a more
competitive footing with its four larger banks, thus enabling better service to the
rapidly expanding economy strongly suggest the proposal to be in the public interest.

No. 19— The Equitable Trust Company,
Baltimore, Maryland
to merge with
The First National Bank of Aberdeen,
Aberdeen

268,765

34

15,260

5

39

Summary report by Attorney General, June 20, 1963
There is no significant competition between the Equitable Trust Company, Balti­
more, Maryland, and The First National Bank of Aberdeen, Aberdeen, Maryland.
The merger, if approved, will not materially change the competitive picture in the
service area of the acquiring bank. The competitive effect upon the service area of
the acquired bank, however, would be adverse since the small independent banks
now operating there would be unable to compete with an institution of the size of
the resulting bank.
This merger is but the latest of a series of mergers by the large Baltimore banks,
applicant being one such bank, which, if continued, will leave the banking resources
of the State of Maryland in the hands of a few large banks.
The effect of this proposed merger on competition is therefore adverse.

Basis for Corporation approval, August 1, 1963
This proposal would combine two insured banks located approximately 26 miles
apart along the principal roadway between Baltimore and New York City. Equi­
table, which has 28 offices in Baltimore and Baltimore County, is and will continue
to be the fourth largest bank in the metropolitan area where the subject proposal
should have little effect on competition. This institution is less than half the size
of its largest competitor and significantly smaller than the two next larger banks.
In Aberdeen and the Harford County service area of First National, however, the
entry of the larger Equitable will bring with it a substantially higher lending limit
than is now available and trust powers and other services not now obtainable on a
local basis. The resulting bank will be in a better position to support the economic
expansion forecast for this area. None of the competing banks has expressed any
opposition to this proposal. Since alternative banking sources are available, and
increasing in number, there appears to be no tendency toward monopoly.
The improved and additional banking services to be offered in the service area
of First National warrant a finding that this proposal is in the public interest.




102

FEDERAL DEPOSIT IN SU RANCE CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by th e C orporation
D uring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

No. 20— First Seneca Bank and Trust Company,
Oil City, Pennsylvania
to acquire the assets and assume
liabilities of
First National Bank in Sharon,
Sharon

Resources
(in
thousands
of dollars)

Banking offices
In
operation

72,241

9

17,621

To be
operated

2

11

Summary report by Attorney General, June 20, 1963
While the competitive effect of the proposed acquisition would not seem to be
adverse in and of itself, viewed in the light of First Seneca’s acquisition of eight
other banks in the past ten years, the acquisition will have an adverse effect on
competition.
Basis for Corporation approval, August 1, 1963
The First Seneca Bank and Trust Company is headquartered in Oil City, near
the center of Venango County, but has five offices in Clarion County to the eastsoutheast, and three offices in Mercer County to the west. Its field of competition
is regional throughout most of this tri-county area of northwestern Pennsylvania.
It proposes to acquire the two offices and $15 million of deposits of The First N a­
tional Bank in Sharon, which serves a relatively narrow area in the southwest por­
tion of Mercer County, and where First Seneca Bank has no office representation.
The two participants to the proposal represent the first and sixth largest of
17 banks having main offices within the three counties. The acquisition will
raise First Seneca Bank’s proportion of aggregate IPC deposits and loans of these
banks to 27.7 percent and 24.3 percent respectively. Although the proposal will thus
enhance a prominent size position, the second largest bank in this broad area with
19 percent of aggregate IPC deposits and 20.2 percent of aggregate loans will con­
tinue to represent a source of keen competition. The other 14 banks of the
area also offer alternative choices for banking at convenient locations which rep­
resent competition to First Seneca Bank in numerous communities and negate any
tendency toward monopoly. It is therefore concluded that the impact of the pro­
posal on the broad area involved would not significantly change the banking struc­
ture or tend to lessen competition.
The main office locations of the participating banks are about 55 miles apart
and the nearest offices are at least 15 miles apart. These distances result in an
absence of any common deposit or loan business and neither bank claims to
originate any business in the other’s service area. Thus, there is little if any existing
competition between the participating banks to be eliminated by this proposal.
The introduction of First Seneca Bank with total resources of about $90 million
into the Sharon area would significantly alter the existing size relationships in that
region. The branches to result from this proposal would offer competition to the two
other Sharon banks having total resources of $35 million and $16 million respectively.
Despite this size disparity, these remaining banks appear of sufficient size and aggres­
siveness to continue effective competition. Moreover, First Seneca Bank will bring
its greater lending capacity and larger individual loan limit to that area, wherein




103

B A N K ABSORPTIONS APPROVED BY TH E CORPORATION

Table 1 0 1 . D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A s s u m p t io n of L iabilities A pproved b y t h e C orporation
D uring 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

Banking offices
In
operation

To be
operated

industrial expansion is creating credit requirements too large for local banks to ful­
fill. These resulting branches in Sharon will also pay a 3 percent interest rate
on savings instead of the 2 percent now paid by First National Bank in Sharon.
It is believed that First Seneca Bank’s operations will intensify competition in the
Sharon area and benefit the public through more complete commercial banking and
trust services.

No. 21—The New York Savings Bank,
New York, New York (change title to
The New York Bank for Savings, and
change head office from 81 Eighth Avenue to
280 Park Avenue South, New York)
to merge with
The Bank for Savings in the City of New York,
New York

472,740

4

769,474

5

9

Summary report by Attorney General, June 10, 1963
The proposed merger would create a savings bank which would be the fourth
largest in the United States, the third largest in the City of New York, and the
second largest in the Borough of Manhattan. Its savings deposits would be over
four times as large as those of the largest savings and loan association in New York
City and larger than those of any commercial bank in the city except one, the First
National City.
W e believe that the proposed merger, if accomplished, would have serious adverse
effects on competition among savings banks in New York City, would eliminate
substantial competition between the merging banks, would result in a substantial
increase in the concentration of deposits and loans held by the merging banks, and
may lead to further mergers as the result of attempts by competitors to recoup the
competitive status which they would lose as a result of this merger.
It is our opinion that the anticompetitive effects of the proposed merger are so
substantial as to militate strongly against approval of the application.
Basis for Corporation approval, August 9,1963
This merger involves The New York Savings Bank, with $414.5 million in deposits
and four offices, and The Bank for Savings, with $687.5 million in deposits and five
offices. All offices of the merging banks are located in the Borough of Manhattan
and each bank serves an area including the five boroughs which comprise New York
City. The resulting bank would operate nine offices and have over $1.1 billion in
deposits of the 186 offices presently operated by the 52 savings banks in New York
City which hold $18.9 billion in deposits. In addition to the competition existing
among the savings banks, intense competition for savings deposits is also provided
by commercial banks and savings and loan associations. The resulting bank would
hold only 5.8 percent of the savings deposits held by all savings banks in the city,
and only 3.6 percent of the total time deposits and share accounts held by the re-




104

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by th e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

maining 51 savings banks, the 49 commercial banks and the 155 savings and loan
associations operating in the city. The mortgage portfolio of the resulting bank,
which would comprise 78.8 percent of its gross assets and extends nation-wide, would
equal less than five percent of the over $19.5 billion of mortgages held by savings
banks in the State and a relatively insignificant percentage of the mortgages held
by the major types of financial institutions in the country. The merger would have
no significant effect upon competition in the savings and mortgage markets in which
the merging banks are competitive.
Although both banks compete in the same general service area, competition be­
tween them is limited, and results, in part, from legal restrictions as to the amount
individuals may deposit in a savings bank, and the insurance ceiling of $10,000. In
only one instance is an office of one of the merging banks in direct competition
with an office of the other, and in this case there are four offices of other savings
banks and numerous offices of commercial banks within convenient and competitive
distance. In view of the multitude of alternative banking sources provided by the
savings banks, commercial banks and savings and loan associations, elimination of
the nominal competition between the merging banks will not materially affect the
convenience of savings bank customers or materially affect competition.
The merger has been approved by the Board of Trustees of the two banks, who
consider it to be a benefit to the depositors of the banks, and by the Superintendent
of Banks for the State of New York, who has concluded that it is in the public
interest. Consummation of the merger will result in some operating economies
which will redound to the benefit of the more than 400,000 depositors of the merging
banks, who will also have the convenience of being able to do business in any of the
nine offices of the resulting bank. The mortgage emphasis of the two banks comple­
ment each other in a material way and the resulting bank, with the combined man­
agement and investment skills of the two banks, would be better able to compete
for and service the requirements for large special type mortgages. In addition, there
are vacancies in the offices of the Chief Executive Officer and Senior Mortgage Of­
ficer of the New York Savings Bank, existing since the latter part of 1962, which will
be filled as a result of the proposed merger.
Favorable findings have been made on all of the factors required to be considered
by statute, and the merger is considered to be in the public interest.

No. 22— Community Bank of Trenton,
Trenton, Illinois
to acquire the assets and assume
liabilities of
The Farmers Bank of Trenton,
Trenton

289

3,577

1

1

Summary report by Attorney General, July 8,1963
Because the acquiring bank has not yet commenced operations, its acquisition of
Farmers Bank, a small local bank, will have no effect on the competitive situation in




105

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

banking in Clinton County as it presently exists, but will remove the future com­
petition to be afforded by the acquiring bank. However, because of the small size
of the banks involved and the existence of nearby competing banks the effect of the
proposed acquisition on competition will not be significantly adverse.
Basis for Corporation approval, September 5, 1963
Community Bank of Trenton is a newly organized bank which is not yet in opera­
tion. The purchase and assumption transaction between it and The Farmers Bank
of Trenton will have no significant competitive implications inasmuch as the new
bank will merely become a successor to the existing bank in the same town. Not
only will the proposal solve a pressing management problem at Farmers, but it will
enable the community of Trenton which has supported a bank for a long number of
years, to have continued uninterrupted banking services. Moreover, the purchase
and assumption transaction will give the people of Trenton the benefits of a locally
owned and managed bank. There is no tendency toward monopoly involved and it is
concluded that the transaction would be in the public interest.

No. 23—Industrial Valley Bank and Trust Company,
Jenkintown, Pennsylvania
to merge with
The National Bank of Oxford,
Oxford

143,501

21

7,634

1

22

Summary report by Attorney General, July 31, 1963
The Industrial Valley Bank and Trust Company as of December 28, 1962, had
assets of $135,838,000, deposits of $115,120,000 and loans and discounts of $77,952,000.
Its 19 banking offices serve Philadelphia and the surrounding area.
The National Bank of Oxford, as of December 28, 1962, had assets of $7,428,000,
deposits of $6,688,000 and loans and discounts of $2,757,000. There is one other
smaller bank in Oxford and four smaller banks from 8 to 12 miles distant from
Oxford. The resulting bank will completely overshadow these smaller banks in size
and they will thereafter operate at a competitive disadvantage.
The merger of The National Bank of Oxford by The Industrial Bank and Trust
Company is the fourth bank to be merged by the latter in a 3-year period. Of
the present $115,120,000 deposits of Industrial Valley Bank and Trust Company,
approximately $75 million is the result of these mergers.
The proposed merger will continue the increased trend toward concentration in
the Philadelphia area.
The effect on competition will be adverse.
Basis for Corporation approval, September 19,1963
Industrial Trust operates its main office and six branches in Montgomery County,
Pennsylvania, ten branches in Philadelphia County, where it derives its major vol-




106

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

ume of business, and four branches in Chester County. In view of the relatively
small volume of resources held by Oxford National, the increase in resources of In­
dustrial Trust resulting from this merger would have no significant effect on banking
competition in the areas in which it presently operates.
Oxford National operates from a single location in southeastern Chester County,
Pennsylvania, approximately 70 miles from the main office of Industrial Trust in
Jenkintown. Oxford is about four miles north of the Maryland State line and about
16 miles west of the Delaware State line, on the fringe of the Delaware Valley
industrial complex. The merging banks serve different service areas, the closest
offices are 18 miles apart, and there is no indication of any significant competition
between them that would be eliminated as a result of the merger. The two banks
presently operating in Oxford have limited loan volumes, substantially predicated
upon real estate. They have not provided the range of modem services usually
expected by banking customers, and, reportedly, much of the local loan business,
particularly instalment loans, is handled by bank and non-bank lenders from outside
the immediate service area. Industrial Trust will bring to the Oxford service area
such services as trust facilities, instalment loans and construction loans, which
should facilitate its future growth as part of an important expanding industrial area.
Further, although the management of Oxford National is capable and conservative,
it lacks the succession that could be provided by Industrial Trust which has ex­
perienced management in depth.
Although the proposal represents a continuation of Industrial Trust’s expansion
through merger, it does not appear that consummation of the merger would have
an adverse effect on competition, nor does it represent a tendency toward monopoly.
It is concluded that the merger which will bring a broader range of modern banking
services to the Oxford service area without any adverse effects on banking competi­
tion is in the public interest.

No. 24— Bank of Horton,
Horton, Kansas
to acquire the assets and, assume
liabilities of
Home State Bank,
Horton

1,845

1

1,292

1

1

Summary report by Attorney General, August 20,1963
It appears from the nature of the area that the two small banks involved in this
proposal have their principal business activity in the town of Horton and its imme­
diate vicinity, and that each bank is the principal competitor of the other. The
proposed transaction would change Horton, Kansas, from a town in which there
were two banks in effective competition with each other to a one-bank town, a
monopoly so far as local banking is concerned. It is therefore concluded that as a
result of the proposed acquisition, competition in commercial banking would be
adversely affected in Horton, Kansas.




107

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

Table 101. D escription
of

op

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

Basis for Corporation approval, September 19, 1963
The two relatively small banks involved in this proposal are located less than
one block from each other in Horton, Kansas. However, competition between them
is weak and produces little, if any, benefit to the community, because both banks
have lacked aggressiveness in competing with each other, as well as with other
banks in the service area. Neither bank pays interest on time deposits and the
controlling interests of the two banks are very friendly. Since 1954 the aggregate
deposits held by ten banks in the primary service area have increased approximately
30 percent, while deposits in the two Horton banks have declined. The economy
of Horton, both agricultural and industrial, has been in a declining trend in recent
years, as has also the population of the service area; consequently, the need for
two banks in Horton has been lessened.
Eight other banks will remain in the primary service area and will provide
active competition to the remaining bank in Horton, particularly the two banks
in Hiawatha, the county seat and principal trading center. Hiawatha is just 13
miles from Horton and its two banks hold nearly one-half of the aggregate IPC
deposits and loans held by the ten banks in the area, as compared to less than 15
percent that will be held by Bank of Horton following the acquisition. Moreover,
taking in a slightly broader area, there are 22 banks in 15 towns, the farthest
from Horton being 31 miles, and there are adequate roads by which these banks
can easily be reached. The stronger bank that would result from this acquisition will
be in a much better financial position, competitively, with respect to the other area
banks, and its increased financial standing and larger lending capacity will enable
it to better serve the credit needs of some of its larger customers in the Horton
community.
Home State Bank has lost its executive officer and, with no qualified replace­
ment, the acquisition provides a ready solution to that problem.
It is concluded that these advantages outweigh any possible disadvantage that
would result from the elimination of the limited amount of competition between
the two Horton banks. The area of competition is not limited to the small town of
Horton alone, but extends over a much broader area in which numerous alternate
banking locations are easily accessible. There appears to be no tendency toward
monopoly, and in view of the advantages that will accrue to the public in Horton,
it is concluded that the transaction would be in the public interest.

No. 25—The Central Jersey Bank and Trust Company,
Freehold, New Jersey
to merge with
The Matawan Bank,
Matawan




94,508

11

7,839

2

13

108

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p tio n of L iabilities A pproved by th e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

Summary report by Attorney General, September 20, 1963
The proposed merger of The Central Jersey Bank and Trust Company, Free­
hold, New Jersey, and The Matawan Bank, Matawan, New Jersey, would have a
significantly adverse effect upon competition.
The proposed merger would eliminate a small, well-managed bank as an inde­
pendent banking facility; would continue Central’s expansion through the acquisi­
tion of other banks; would place in jeopardy the continued existence as inde­
pendent facilities those small banks in the Matawan, New Jersey area; and would
continue the merger trend in the commercial banking industry in Monmouth
County, New Jersey, as noted on three prior occasions involving Central by the
Department of Justice.
Basis for Corporation approval, October 31, 1963
The service area involved in this proposal is confined primarily to Monmouth
County, New Jersey, in which there presently are 11 banks, among which the
applicant and The Matawan Bank are second and tenth largest, respectively. The
service area of the applicant covers the entire county, whereas that of Matawan
Bank is limited to a small area around Matawan and Marlboro Townships which
are contiguous. Among the 11 banks in Monmouth County, Matawan Bank
holds 1.7 percent of the aggregate IPC deposits and loans, the applicant holds
slightly less than one-fifth in each category, and the largest bank holds 27.3 per­
cent and 30.3 percent, in each category, respectively. The third largest bank holds
18.6 percent of the aggregate IPC deposits and 21.4 percent of the loans. The
addition of the relatively modest volume held by Matawan Bank to that of the
applicant would have no significant competitive effects at the present locations
of the applicant’s 11 offices. Its nearest office to Matawan is its main office in
Freehold, eleven and one-half miles south, and it was determined that there
is no significant competition between the two banks which would be eliminated.
The number of accounts common to both banks is nominal and the applicant
derives no significant amount of business from the Matawan-Marlboro service
area. The largest and fourth largest banks in Monmouth County, within the past
two months, effected mergers with the then seventh and sixth largest banks,
respectively.
The Matawan Bank is located within one mile of the Middlesex County line
where it competes with substantially larger banks in Perth Amboy, South Amboy,
Fords, Madison Township, and South River, all in Middlesex County. In addition,
it is in direct competition with a branch of Monmouth County’s largest bank,
one and one-half miles distant, and a branch of the third largest bank, four
miles distant. Another local bank in Matawan is more than twice the size of
Matawan Bank. In this respect, the substitution of two branches of the applicant
for the two offices of Matawan Bank would result in increased competition for
the much larger banks with which the latter competes.




109

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition
of

A ssets or A s s u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

There are significant benefits which would result from the merger, particularly
with respect to Matawan Bank and the Matawan service area. Operating earnings
of Matawan Bank have been considerably below average over the past three years,
and it presently is faced with a pressing management problem' as a result of the
serious illness of its chief executive officer, without adequate provision having
been made for management succession. The merger with the applicant would cure
both these problems. Moreover, the credit policies of Matawan Bank have been
very conservative over the past, whereas those of the applicant are much more
progressive. The applicant will bring much broader and more modem banking
facilities to the Matawan area, such as consumer credit and instalment loan
facilities not now provided by Matawan Bank, a larger lending limit, more spe­
cialization in all lending fields, trust department services, and the benefits of
central accounting and automation. In addition, the convenient locations of the
two offices of Matawan Bank will be continued.
In view of the numerous banking locations available to the public, there is no
tendency toward monopoly, and it is concluded that the merger would be in the
public interest.

No. 26— Northwest Pennsylvania Bank & Trust Co.,
Oil City, Pennsylvania
to merge with
First National Bank in Clarion,
Clarion
No. 27— Northwest Pennsylvania Bank & Trust Co.,
Oil City, Pennsylvania
to merge with
The First National Bank of Mercer,
Mercer

61,646

8

9,030

1

70,676
'■
m
115,582

9

9

12

3

Summary report by Attorney General, August 6, 1963
(cases 26 and 27)
First National Bank of Mercer conducts a general commercial banking business
through three offices in Mercer County. It has total assets of $15,582,000, total
deposits of $13,649,000, and total loans and discounts of $8,705,000. Northwest
Pennsylvania Bank & Trust Company conducts a general commercial banking
and trust business through eight offices, of which four are in Venango County,
and two each are in Clarion and Crawford Counties. It has total assets of $61,646,000, total deposits of $56,007,000, and total loans of $33,492,000. First National
Bank in Clarion conducts a general commercial banking business through one
office in Clarion County. It has total assets of $9,030,000, total deposits of $8,284,000,
and total loans of $4,149,000.
Oil City is about 35 miles northeast of Mercer and about 22 miles northwest of
Clarion.
The proposed merger of Northwest Pennsylvania and First National Bank in
Clarion would eliminate a substantial amount of competition between the two




110

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Table 101. D escription
of

of

E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p t io n of L iabilities A pproved by th e C orporation
D u ring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

Clarion County offices of Northwest and the acquired bank. The resulting bank
would hold about 45 percent of the deposits of all local offices of the five banks
with offices in the county. It would also eliminate competition between the two
banks for some of the larger deposit and loan customers in either Venango or
Clarion Counties who may now have the ability to make use of either bank.
The proposed merger of Northwest Pennsylvania and First National Bank of
Mercer would also have the effect of eliminating competition between the merging
banks for some of the larger deposit and loan customers who now have the ability
to turn to either of the merging banks.
Both mergers together would increase Northwest’s share of total deposits of all
banks with offices in the four-county area in which the resulting bank would have
offices from 15 percent to 21.3 percent, thereby moving it ahead of First Seneca
Bank & Trust Company (with 17.6 percent) as the largest bank in that area if
First Seneca’s pending application to purchase First National Bank in Sharon is
not granted. Northwest Pennsylvania has acquired five and First Seneca has ac­
quired eight independent banks in the past decade. Five other banks in the area
have also disappeared by acquisition during that period. Further acquisitions in­
volving some of the 19 remaining banks may be expected if this merger trend is
not stopped soon.
For the above reasons we conclude that each of the proposed mergers and both
of them together would have substantial adverse effects on competition.
Basis for Corporation approval, November 7, 1963
(cases 26 and 27)
Northwest presently serves the central and southern portions of Venango County
through four offices, the western and southern parts of Clarion County through
two offices and the central part of Crawford County with two offices. The subject
proposals will spread its influence further to the east in Clarion County by the
acquisition of Bank in Clarion’s sole office; the Bank of Mercer’s three offices in
Mercer County will be acquired where Northwest is not now represented. North­
west will increase its number of offices from' eight to twelve, or 21 percent of the
relevant service area’s total banking offices and expand its share of aggregate IPC
deposits therein from 14.4 percent to 20.5 percent. It will remain, however, the
second largest of the 19 banks that will then comprise the banking community
and which is reported to entertain keen competition.
Oil City is 28 miles northwest of Clarion and 38 miles northeast of Mercer.
Mercer is 50 miles west of Clarion. The closest offices of the subject banks are
Northwest’s Knox Branch and Bank in Clarion’s sole office which is 10 miles to
the east of Knox; furthermore an office of a competing bank is located between
Knox and Clarion. The respective service areas do not overlap and there is little
in the way of competition among the three banks that would be eliminated by
their merger.
The subject banks all reflect sound conditions, satisfactory capital protection
and at least fair earnings. Each is providing efficient banking facilities to its trade




B AN K ABSORPTIONS APPROVED BY TH E CORPORATION

Table 101. D escription
of

of

111

E ach M ekger, C onsolidation , A cquisition

A ssets or A s s u m p t io n of L iabilities A pproved by t h e C orporation
D u ring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

area, nevertheless, Northwest’s scope of service is considerably broader and in­
cludes fiduciary activities not offered by either Bank in Clarion or Bank of Mercer.
Northwest recently suffered the loss of its highly regarded president whose un­
timely death left a void which could not be filled from within the remaining staff.
In this event, the president of Bank of Mercer has been named chief executive at
Northwest, an appointment which is widely expected to redound to the benefit
of Northwest and, ultimately, the resulting bank.
Clarion contains only one other banking office, a branch of the area’s largest
bank, therefore the effect of the proposed merger of Bank in Clarion and North­
west most likely would be to stimulate bank competition in the Clarion trade
area. Bank of Mercer is the only bank in Mercer, its chief competition being
represented by three, all larger, banks situated 15 miles to the west in Sharon.
Its merger with Northwest can be expected to further heighten that competition.
In the overall trade area of the three subject banks, the proposed mergers would
permit Northwest to maintain its competitive standing with respect to the area’s
largest bank, without inflicting significant harm to the competitive abilities of
the remaining 17 banks, many of which are reported to confine their activities
within a relatively constricted area surrounding their main offices. The size of
the bulk of these banks, while considerably smaller than that of the two largest
banks of the area, suggests that they will continue to be capable of effective com­
petition.
While Northwest’s control of the aggregate IPC deposits of the relevant trade
area will rise from 14.4 percent to 20.5 percent, there should be considered: the
proximity of three branches of two large Pittsburgh banks, one of which is only
6 miles from Northwest’s Emlenton Branch; the transition of the regional econ­
omy from dependence on the extractive industries to more diversified industrial
production; the economic decline of certain area communities; and general popula­
tion trends indicative of an outward drift from the area. These considerations have
all served to encourage the mergers of small banks in the area in recent years.
The subject proposals will not eliminate any material degree of bank competi­
tion between the participating banks and will not result in the loss of banking
offices to the communities involved. On the contrary, there is reason to believe
that overall bank competition in the combined service areas will be rendered more
intense, with a corresponding benefit to the communities therein as Northwest’s
broader scope of banking service is made more widely available. In view of the
foregoing, the mergers were concluded to be in the public interest.

No. 28— First State Bank of Witchita Falls,
Wichita Falls, Texas (change title to
Texas Bank & Trust in Wichita Falls)
to merge with
The Texas Bank,
Wichita Falls




7,972

1

4,766

1

1

112

FEDERAL DEPOSIT IN SU RAN CE CORPORATION
T ab le
of

1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition

A ssets or A ss u m p tio n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

Summary report by Attorney General, October 18, 1963
The applicant bank was established in April 1961 and had, as of August 21,
1963, total assets of $7,972,000, total deposits of $6,883,000 and net loans and dis­
counts of $5,614,000. The merging bank opened for business in January 1961 and
had, as of August 21, 1963, total assets of $4,766,000, total deposits of $4,374,000
and net loans and discounts of $3,042,000.
Five independent commercial banks are headquartered and compete for IPC
deposits and loans in the Wichita Falls service area. The applicant bank ranks
fourth in size with 3.5 percent of the total IPC deposits while the merging
bank ranks fifth in size with 2.3 percent of the total IP C deposits attributable
to this service area. Three larger banks respectively control in this area 55.1 per­
cent, 33.0 percent and 6.2 percent of the total IPC deposits.
The instant merger would not seriously upset the existing competitive relation­
ship between the merging banks on the one hand and their larger competitors on
the other, but it would eliminate the direct competition presently existing between
the participating banks and to this extent would be slightly adverse.
Basis for Corporation approval, November 7, 1963
The two banks joining in this proposal are the smallest of the five serving the
city of Wichita Falls, Texas. State Bank is situated in the city’s downtown busi­
ness district while Texas Bank is almost five miles distant in a suburban section
adjoining the important Sheppard Air Force Base. As a practical matter, however,
both banks serve virtually similar areas, since much of the immediate area of
Texas Bank is yet to be developed. While that banking office will be eliminated as
a result of this merger, the existence of a banking facility within the air base sug­
gests any inconvenience caused will be of small magnitude.
Some common deposit and loan business exists between the two banks and to
this limited extent there will be an elimination of competition. The resulting bank
will, however, be of a size that will permit more vigorous competition against
the other banks of the city. Certain economies and operating efficiencies can rea­
sonably be expected to accrue from' the merger of the subject banks which should
benefit future earnings prospects. The record of Texas Bank has not been impres­
sive in this regard, burdened as it has been with high overhead, and other ex­
penses. While Texas Bank has achieved significant improvements in its condition
with its revised management, it is believed the proposed management of the
resulting bank represents greater strength.
The resulting bank will hold only 5.3 percent of the city’s IPC deposits and
7.4 percent of the loans, while the city’s largest bank now holds 55.4 percent and
47.3 percent, respectively. The proposed merger would have little overall effect on
bank competition but would produce a bank significantly stronger in terms of future
earnings prospects and management than either of the participants and which
would be better equipped to serve the community. There appears to be no tendency
toward monopoly and it is concluded that the transaction would be in the public
interest.




113

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

Table 10 1 . D e s c r i p t i o n o f E a c h M e r g e r , C o n s o li d a t io n , A c q u i s i t io n
o f A s s e t s o r A s s u m p t io n o f L i a b i l i t i e s A p p rov ed b y t h e C o r p o r a t io n
D u r i n g 1963— Continued

Name of bank, and type of transaction1
(in chronological order of determination)

No. 29— City Trust Company,
Bridgeport, Connecticut
to merge with
The Stratford Trust Company,
Stratford2

Banking offices

Resources
(in
thousands
of dollars)

In
operation

186,817

9

16,976

1

To be
operated

10

Summary report by Attorney General, October 11, 1963
The City Trust Company of Bridgeport, Connecticut, operating several offices
in Bridgeport, Fairfield, Danbury and South Norwalk, Fairfield County, Connecti­
cut, proposes to merge with The Stratford Trust Company also located in the
southeastern portion of Fairfield County.
Substantial competition exists between the two institutions. The proposed merger,
eliminating the only commercial bank in Stratford and one competitive with City
Trust, would result in further concentration of banking in the area involved and
the effect on competition would thus be adverse.
Basis for Corporation approval, November 29, 1963
Stratford Trust is a relatively small, noninsured commercial bank operating its
only office in Stratford, Connecticut, a suburb of Bridgeport. City Trust is the
fourth largest commercial bank in its southeastern Connecticut service area, where
a mutual savings bank is larger than any of the commercial banks.
Because of the “home office protection” feature of Connecticut statutes, Stratford
(population 45,000) has commercial bank services provided only by Stratford Trust,
which operates from inadequate and outmoded quarters, although branches of three
Bridgeport mutual savings banks and a Bridgeport commercial bank offer savings
facilities. Since consummation of this merger will enable other commercial banks
to establish de novo offices in Stratford, the area will realize the advantages of
conveniently located commercial bank services, as well as the benefits of local
commercial bank competition. An immediate effect of the merger will be to pro­
vide a greater capacity and broader variety of lending services and deposit insurance
for commercial bank customers in Stratford.
Some competition between the two banks will be eliminated as a result of the
merger, although the resulting bank will hold only one-fifth of the aggregate com­
mercial bank IPC deposits in the area and only one-tenth of the aggregate IPC
deposits of all banks in the service area. Because of the increased competition antici­
pated in Stratford and the availability of services from other banks, four of them
larger than City Trust, the merger does not represent a tendency toward monopoly.
In view of the over-all benefits to be obtained, the merger, which will solve a
management succession problem at Stratford Trust, is concluded to be in the
public interest.




114

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

T ab le

1 0 1 . D e s c r i p t i o n o f E a c h M e r g e r , C o n s o l id a t io n , A c q u is it io n

o f A s s e t s o r A s s u m p t io n o f L ia b i l i t i e s A p prov ed b y t h e C o r p o r a t io n
D u r i n g 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

No. 30— The Chase Manhattan Bank,
New York, New York
to acquire the assets and assume
liabilities of 4 branches of
Nationale Handelsbank, N.V.,
Amsterdam, Holland 2

Resources
(in
thousands
of dollars)

In
operation

To be
operated

10,669,104

(3
)

(3)

18,963

4

Summary report by Attorney General, November 29, 1963
Recent nationalizations have led Nationale Handelsbank to dispose of its South­
east Asian branches. Chase Manhattan presently has no offices in the three cities,
but does number among its customers a majority of the American corporations
which operate subsidiaries in Thailand, Singapore and Bangkok. A t present only
two American banks maintain offices in one or more of the three cities. In light
of the reasons for the withdrawal of Nationale Handelsbank from the three areas,
the existing position of Chase with local subsidiaries of United States corporations,
and the strength of other American banks already established as competitors in the
several areas, any adverse effects upon competition resulting from the proposed
transaction affecting domestic or foreign trade or commerce would not appear to
be substantial.
Basis for Corporation approval, December 5, 1963
This transaction involves the acquisition by Chase of the Bangkok, Hong Kong
and Singapore branches of Nationale Handelsbank, a Netherlands corporation.
Since nationalization of its Indonesia branches, Nationale Handelsbank has de­
sired to dispose of its other Far Eastern branches and this transaction will facilitate
the liquidation of its Far Eastern business. Chase operates numerous foreign
branches but its only branches in the Far East are in Japan. Bank of America,
National Trust and Savings Association, however, has branches in all three foreign
cities involved in this transaction and First National City Bank of New York has
branches in Hong Kong and Singapore.
The transaction, which will enable Chase to better service the foreign trade
requirements of its customers and those of other foreign and domestic concerns,
as well as increase competition among American banks for Far East business, is
considered to be in the public interest.

No. 31— The Bank of Nokesville, Inc.,
Nokesville, Virginia (change
title to The Bank of Prince William, and change
location of head office to Woodbridge)
to merge with
The Bank of Occoquan,
Occoquan




2,118

2

9.959

4

6

115

B A N K ABSORPTIONS APPROVED BY T H E CORPORATION

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition
of

A ssets or A ss u m p t io n of L iabilities A pproved by t h e C orporation
D uring 1963— Continued
Banking offices
Name of bank, and type of transaction1
(in chronological order of determination)

Resources
(in
thousands
of dollars)

In
operation

To be
operated

Summary report by Attorney General, November 13, 1963
“The Bank of Occoquan had assets of $9,959,190 and The Bank of Nokesville
had assets of $2,117,970 as of June 30, 1963. Direct competition between the two
banks is practically nonexistent. The slightly increased size of the resulting bank
will have but limited competitive impact on the other banks in the area. While
one more independent bank will be eliminated in Virginia, it is noted that The
Bank of Nokesville has experienced an unsatisfactory earning record, its net oper­
ating income for the years 1957 through 1961 averaging only $4,794 which includes
a loss of $1,882 for 1961. The year 1962 showed a small profit of $12,713.
It is the view of this Department that this merger will have only a slight adverse
competitive effect.
Basis for Corporation approval, December 18, 1963
This merger involves the largest bank and the smallest bank in Prince William
County. The principals are not mutually competitive to any recognizable extent
and Nokesville has not been outstanding as a competitor against its much larger
competing banks. The greater volume of banking resources, more extensive serv­
ices, and more specialized management will render the Nokesville office a more
potent competitor and enable the resulting bank to better serve the entire county
while bringing increased lending limits to a major Washington, D . C., suburban
area which is undergoing economic expansion. The volume of growth incident to
the merger would not promote any significant disparity in competitive capabilities
among banks in the county and the transaction is concluded to be in the public
interest.
1 Unless otherwise indicated, the first named bank is a resulting insured nonmember bank.
2 Corporation approval required for absorption of a noninsured bank or institution by a State bank
member of the Federal Reserve System.
3 Prior to this transaction The Chase Manhattan Bank was operating 134 offices in the continental
United States, Puerto Rico, and the Panama Canal Zone. FDIC statistics do not include offices in
foreign countries.




T a b le 102.

C h an g es

in

N um ber

and

(S tates

C lassification
and

of

B anks

and

B ranch es

in the

Commercial and stock savings banks
and nondeposit trust companies

All banks

In­
sured

Non­
insured

Total

Members F. R.
System
Total

Not
mem­
bers
F. R.
Sys­
tem

Total
Banks Non­
deposit
of
trust
de­
com­
posit
panies 1

4,615
4,503

1,492
1,542

7,184
7,079

242
265

+112

BANKS
14,092
13,951

13,621
13,455

471
496

+141

+166

-2 5

13,582 ^13,291
13,439 13,124
+143

+167

309
300

•

*

281
281

154
151

5
3

157
152

153
150

64
63

2
1

1
1

2
2
1

2
1

i

-5 0

+105

-2 3

3
3

115
115
61
59

-3 9
-3 8

+39
+38

+ 2
+ 1

-1

+ 1

+13
+26
-1 3

-2 7
- 8

+3

130
11

8

8

7

Changes in corporate powers:
Granted permission to exercise trust powers 2 ........................




7

2

48

+37
+37

+ 1

12

1
1

2

48

129

128

12

11

7
7

7
7

48

69
3
5
1

48

- 1

2
2

1
1

2

2

1

-3 8
-3 7

1

- 1
-1

-1

+14
-1 8
+13
-3
+ 2 2

14

45

2

6
2
6

1
1

2

2

- 1

1
1

+ 1

131

4

1

-2 2

Changes not involving number in any class:

- 1

1
1

2

+39
+38

Admissions to F. R. System operating banks.............................
. i
.

180
181

- 2

2

330
331

19
19

28
28

510
512

CORPORATION

- i
a

300
300

2
2
1

i "
l

19
19

159
154

•

281
281

163
163

49
50

INSURANCE

State

Non­
insured

DEPOSIT

Na­
tional

In­
sured

FEDERAL

Total

Mutual savings banks

Noninsured

Insured
Type of change

U n ited States

O ther A re a s ), D uring 1963

48

BRANCHES
N um ber o f branches, D ecem ber 31, 1963 3.
N um ber o f branches, D ecem ber 31, 1962 3.
Net change during year.

Branches d isco n tin u e d ..........
Facilities..................................
Branches..................................
Branches deleted from count.

14,087
12,891

+1,199 +1,196

13,585
12,425

7,420
6,639

3,192
3,007

2,973
2,779

+ 3 +1,161 +1,160

190
187

13,652
12,491

1,249
7
144
13
1,075

10

53

+185

+194

741
4
91
5
638
3

226

246

30
3
189
3

5
214
3

53

''3

+781

1,213
7
143
13
1,041
9
53

27
5
19
3

13

8

43
3

-2 8
-2 8

8

42
3

8

42
3

+2
-3

+51

27,708
26,346

1

1

36

34

2

1

1

1

1

1

1

2
11

1

-3 9

+12
-2
+3
-5 2
5
9

157
655

157
655

27,234
25,930

26,876
25,549

12,035
11,142

4,684
4,549

10,157
9,858

+1,304 +1,327

4
9

1

1,135
1,099

832
797

303
302

+36

+35

39

36

3

39

36

3

3

141
597

1
1

2
1
1

BANKS

28,369
27,029

3

2

O
F

161
664

6

+ 2

36

ALL BANKING OFFICES
N um ber o f offices, D ecem ber 31, 1963 3.
N um ber o f offices, D ecem ber 31, 1962 3.
Net change during y e a r.
Offices o p e n e d .
Banks.............
Branches........
Offices c lo s e d .
Banks...........
Branches
Changes in classification:
Among banks......................
Among branches.................

661
683

+1,340 +1,362

294
316

+893

+135

+299

1,553
300
1,253

1,530
281
1,249

1,514
300
1,214

1,494
281
1,213

904
163
741

229
3
226

361
115
246

213
159
54

207
154
53

210

206
153
53

91
64
27

41
28
13

74
61
13

4
4

+39

+13
+67

-2 5
-2 8

+51
-3 9

—38

64
65

+39

157
53

-39

-2 2

-1

20

19
1

2
1

+ 1

- 1

Includes two trust companies on December 31, 1962, and 1 trust company on December 31, 1963, members of the Federal Reserve System.
Information available only for insured banks not members of Federal Reserve System.
Includes a few seasonal offices of State banks members of the Federal Reserve System and insured State banks not members of the Federal Reserve System which were not in
operation December 31, 1963.
4 Facilities established in or near military or other Federal Government installations at request of the Treasury Department or the commanding officer of the installation.
6 Excludes opening and closing of seasonal offices (except those newly established in 1963).
8 Opened prior to 1963 but not included in the count as of December 31, 1962.
1
2
8




DEPOSITS

162
664

+1

+36

123

AND

Changes n o t involving n u m b er in any class:
Branches transferred as result of absorption or succession. . .
Changes in title, location or name of location........................
Changes in operating powers of branches...............................

1
12

2
22

121

OFFICES,

Other changes in classification..............................................
Branches changing class as result of succession—net.............
Branches of insured banks admitted to F. R. System...........
Branches of insured banks withdrawing from F. R. System..
Branches transferred through sale or as result of absorption.

1

1

502
466

39

+ 1

625
587
+38

15
15

13

10

54

4
.„

1,214
7
143
13
1,042

+67
+ 16

1,253
7
145
13
1,078

52
51

NUMBER,

Branches opened for bu sin e ss................................
Facilities provided as agents of the government *.
Absorbed banks coverted to branches....................
Branches replacing head offices relocated..............
Other branches opened 6 ...........................................
Branches added to count 6 .......................................

14,277
13,078

T a b le 103.
g rouped

N u m b e r of B a n k in g O ffices in th e U nited S ta t e s (S ta t e s a nd O t h e r A r e a s ), D e c e m b e r 31, 1963
accord in g to in s u r a n c e

statu s and class of b a n k , and

b y state

or a r e a a n d t y p e

of office

18
1

Commercial and stock savings banks
and nondeposit trust companies

All banks

Insured
State and type of bank or office

In­
sured

Total

28,197
14,077
10,996
3,081
14,120

27,560
13,613
10,617
2,996
13,947

637
464
379
85
173

27,064
13,568
10,712
2,856
13,496

172
15
5

148

10

7
140

170
14
5
9
156

148

157

24
7
4
3
17

7
140

371
242
207
35
129

371
242
207
35
129

371
242
207
35
129

371
242
207
35
129

178
73
50
23
105

64
13
5

58

6

63

3

12

57
9

4,684 10,157
1,492 7,184
1,053 5,971
439 1,213
3,192 2,973

48
5

1

8

1

In­
sured

Non­
insured

All
banks
of
de­
posit

Com­
mercial
banks
of
deposit

Mutual
savings
banks

97.9
97.0
96.9
97.3
98.8

98.9
98.2
97.9
99.4
99.6

73.3
64.7
59.9
70.8
80.3

98.0
97.0
96.9
97.4
98.9

99.0
98.3
97.9
99.5
99.7

73.4
64.8
59.9
71.1
80.4

8 6 .0

87.1
57.1

State

2

8

26,728 12,032
13,283 4,614
10,447 3,4^4
2,836 1,190
13,445 7,418

Total

4,684
1,492
1,053
439
3,192

3

1 0 ,0 1 2

7,177
5,970
1,207
2,835

226
625

832
330
170
160
502

303
180
114

1,133
509
284
225
624

832
330
170
160
502

301
179
114
65

294
242
225
17
52

64
49
44
5
15

1,135
510

272
236

64
49
44
5
15

*'221

15
36

284

66

123

122

145
7

4
2

1

1

138

1

22
6

16

1

1

1
6

1

2
1

2
1

53.3
20.0

20.0

70.0
89.2

77.8
89.7

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0
100.0

100.0
100.0

1 0 0 .0

1 0 0 .0

90.6
76.9
60.0
87.5
94.1

90.5
75.0
50.0
87.5
94.1

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0

100.0

CORPORATION

Other areas’—all offices
"
—
Banks
Unit banks
Banks operating branches
Branches

661 27,234 26,876 12,035
471 13,582 13,291 4,615
383 10,717 10 , u s
3,424
88
2,865 2,843 1,191
190 13,652 13,585 7,420

Non­
Banks deposit
of
trust
com­
de­
posit panies2

State
Aliibama-^all offices
........
Banks
Unit banks
Banks opBvciti'ig b/anclics
Branches
Alaska— all ofRccs
Banks . . . .
.....................
Unit banks
•■. ..............
Banks operating branch €$
Branches

8

51

Banks
Unit banks

244
13
3

Bra nclics

231




10

10

4

3
7
48

2
1

8

3

51

235

9

12

1

3
9
223

244
13
3

8

1

10

231

2

30
24
21

3
6

163
145
136
9
18
9
4

6

1
1

1

3

2
2

1

5

3

7
48

5
43

235

163
3

17

55

9

12

1

8

1

3
9
223

3
160

16

1

3
5

47

1
8

1
1

1

INSURANCE

50 States and D. C.— all offices . . . .
—
Banks.....................................................
U7 banks.........................................
lit
Banks operating branches..................
Branches................................................

Na­
tional

Not
mem­
bers
F.R.S.

DEPOSIT

28,369 27,708
14,092 13,621
11,001 10,618
3,091
3,003
Branches................................................ 14,277 14,087

Noninsured

Members F. R.
System

Non­
insured Total

Percentage insured 1

FEDERAL

Total

Mutual savings banks

100.0

100.0

1 0 0 .0

1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0

319
242
190
52
77

315
238
186
52
77

97
60
39
21
37

C alifornia— ll o ffice s...........................
-a
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

2,282
155
80
75
2,127

2,271
149
76
73

11
6

2,282
155
80
75
2,127

2,271
149
76
73

1,641
54
30
24
1,587

397
16
3
13
381

233
79

Colorado— all offices.............................
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

234
227

19
18
17

73
72
71

33
33
33

C onnecticut— all o ffice s ......................
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

480
135

83
28

5
5
5

Delaware— all o ffice s.............................
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

88
22
12
10

2 ,1 2 2

4
2
5

2 ,1 2 2

32

21

14
7
11

186
157
133

43

322
64
27
37
258

316
58
21
37
258

156
23
8
15
133

77
7

88
22

80

80

8

31

20

66

12
8
60

20

66

12
10

12
8
60

5
4
1
3

D istrict o f C olum bia— all o ffice s. . . .
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

90
14
3
76

90
14
3
11
76

90
14
3
11
76

90
14
3
11
76

46
7
3
4
39

Florida— all o ffice s................................
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

401
385
370
15
16

398
382
367
15
16

3
3
3

401
385
370
15
16

398
382
367
15
16

173
161
150
11
12

10
10

211

Georgia— all o ffice s...............................
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

583
423
371
52
160

530
370
318
52
160

53
53
53

583
423
371
52
160

530
370
318
52
160

157
55
34
21

45
15
9

102

30

Hawaii— all offices.................................
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

124

118
7

6
5
4
1

124

118
7

42

1

112




64

71
345

11

12

4
8

112

474
129
58
71
345

7
111

6

6

12

4
8

2

1
1
1

6

70
2

1
1

12

16
55

7

2
40

1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0
100.0

1 0 0 .0
1 0 0 .0

2

100.0
100.0

1 0 0 .0
1 0 0 .0

6

6

1 0 0 .0

1 0 0 .0

1 0 0 .0
1 0 0 .0

29
10

215

2
2

1
1

207
4
4

2

1

328
300
275
25
28

53
53
53

”4

6

76
5
71

1 0 0 .0
1 0 0 .0

100.0
100.0

2

5
28
11
3
* •'g
8

33
4

98.4
92.1
80.8
100.0

8
2

1 0 0 .0
1 0 0 .0

8

8

29

1 0 0 .0

99.0
96.3
92.1
100.0

2

41
13

. . . „

111

1

158
71
37
S4
87

85.9
85.5
85.1
100.0

1 0 0 .0

158
71
37
34
87

1 0 0 .0

85.9
85.5
85.1
100.0
1
1

100.0
100.0

1 0 0 .0

100.0
100.0

90.9
87.5
85.7
100.0

1 0 0 .0

1

1 0 0 .0

90.9
87.5
85.7
100.0

5
4
l

99.5
99.5
99.5
100.0

1 0 0 .0

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0

100.0

1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0

99.5
99.5
99.5
100.0
1 0 0 .0

6

100.0
100.0

1 0 0 .0

100.0

119

6

7

100.0
100.0

4
2
5

BANKS

194
188
6
7

109
104
100
4
5

1 0 0 .0
1 0 0 .0
1 0 0 .0

O
F

201

194
188
6
7

99.1
98.8
98.4
100.0

1 0 0 .0
1 0 0 .0

11
6

36
154

234
227
221
6
7

221
6

99.1
98.8
98.4
100.0

1
1

1

1 0 0 .0

33
33
33

201

3
3
3

DEPOSITS

4
4
4

AND

315
238
186
52
77

OFFICES,

319
242
190
52
77

NUMBER,

Arkansas— all o ffice s.............................
Banks.....................................................
Unit banks.........................................
Banks operating branches..................
Branches................................................

T a b le 103.

N u m b er o f B a n k in g O f f i c e s in th e U n ite d S ta t e s ( S t a te s and O t h e r A r e a s ), D e c e m b e r 31, 1963— Continued

10
2

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE OR AREA AND TYPE OF OFFICE
Commercial and stock savings banks
and nondeposit trust companies

All banks

In­
sured

Members F. R.
System

Non­
insured Total
Total

1

11

ZK

138
27
15
12

138
27
15
12

138
27
15
12

111

T not hsi'nJfQ
T

111

111

111

T 'n T inZ’ j*
T 'tt i/




24

19

10

6

5
5
5

674
509
165

869
657
492
165

17
17
17

212

636
591
548
43
45

546
348
257
91
198

539
341
250
91
198

6
6

6

0

2

2

7
7

In­
sured

11

Non­
insured

All
banks
of
de­
posit

Com­
mercial
banks
of
deposit

Mutual
savings
banks

4

6

85

1,013
1,009
1,005
4
4

1,007
1,003
999
4
4

409
405

836
437
286
151
399

831
432
281
151
399

345
124
69
55

886

674
509
165

869
657
492
165
212

638
593
550
43
45

636
591
548
48
45

194
167

546
348
257
91
198

539
341
250
91
198

184
83
45

401

1 0 0 .0
1 0 0 .0

3
3
18

8
3

100.0
100.0

8

1 0 0 .0

1 0 0 .0

118
118
118

480
480

99.7
99.7
99.7
100.0

99.7
99.7
99.7
100.0

1 0 0 .0

1 0 0 .0

99.5
99.1
98.6
100.0

99.5
99.1
98.6
100.0

1 0 0 .0

1 0 0 .0

98.2
97.6
96.9
100.0

98.2
97.6
96.9
100.0

1 0 0 .0

1 0 0 .0

99.7
99.7
99.6
100.0

99.7
99.7
99.6
100.0

1 0 0 .0

1 0 0 .0

98.7
98.0
97.3
100.0

98.7
98.0
97.3
100.0

1 0 0 .0

1 0 0 .0

480

3
3
3

3
3
3

4
4

221

119
100

83
17
19

142

25
27

88
101

1 0 0 .0
1 0 0 .0

100.0
100.0

151
100

75
25
51

335
208
137
71
127

4
4
4

16
16
16

84
65
50
15
19

666

47
42
37
5
5

395
382
369
13
13

2
2

48
14
7
7
34

307
244
198
46
63

7
7

492
359
133
174

1
1

4
4

1

4

1
1

1

4
4
4

1 0 0 .0
1 0 0 .0

100.0

CORPORATION

T w ~ /m
T it h lrv

835
436
285
151
399

638
593
550
43
45

Banks

..........
..........

840
441
290
151
399

212

Indinnfl— l l officcs
's
Banks
..............
TJnit banks
• ...

1,007
1,003
999
4
4

886

Unit banks

95

Total

State

212

1,013
1,009
1,005
4
4

"R qnpnPQ
t

Na­
tional

Non­
Banks deposit
trust
of
com­
de­
posit panies2

INSURANCE

/ q 'inp'i'fin hvff'n/'hpQ
ryi
Branches

138
27
15
12

Not
mem­
bers
F.R.S.

DEPOSIT

TJ

1

FEDERAL

Total

Percentage insured

Noninsured

Insured
State and type of bank or office

Mutual savings banks

226
31
35
160

8
4
9

Maryland— all offices........
Banks.................................
Unit banks.......................
Banks operating branches
Branches.............................

496
124
67
57
372

490
123
67
56
367

6
1

Massachusetts— all offices.
Banks.................................
Unit banks......................
Banks operating branches
Branches3 ............................

967
342
170
172
625

666

Michigan— all offices........
Banks.................................
Unit banks......................
Banks operating branches
Branches.............................

1,095
367
214
153
728

Minnesota— all offices. . . .
Banks.................................
Unit banks......................
Banks operating branches
Branches.............................

418
198
119
79

164
44
16
28

220

220

206
46
13
33
160

191
40
11
29
151

86
22

50

15

12

6

8
14
64

55
6
4
49

449
117
66
51
332

207
46

56
7

1
5

455
118
66
52
337

24

22
161

1

49

301
177
111
66
124

640
162
61
101
478

633
157
57
100
476

366
93
39

136
18

54

1,091
365
213
152
726

4

1,095
367
214
153
728

716
708
704
4
8

708
700
696
4

8
8

715
707
703
4

Mississippi— all offices. . . .
Banks.................................
Unit banks......................
Banks operating branches.
Branches.............................

371
194
84
177

369
192
108
84
177

Missouri— all offices...........
Banks...................................
Unit banks......................
Banks operating branches
Branches.............................

684
636
588
48
48

672
624
576
48
48

12
12

Montana— all offices...........
Banks...................................
Unit banks......................
Banks operating branches
Branches..............................

128
125

127
124
121
3
3

1
1




110

122
S
3

220

66

165
59
106
501

21
12

2

1
1
2

8

8

2

6

2

12

1

186
64
41
23
122

6
1

35
26
20
6
9

41

2
4
9

6

1
5
35

5
4
4

2
1

273

18
118

1

1

1,091
365
213
152
726

391
87
48
44
304

421
129
77
52
292

279
149
93
56
130

3

707
699
695
4

194
188
186
2

27
27

486
484
482

1
5
35

327
180
109
71
147

33

1
1

8

2
6
25

92.7
87.0
84.6
87.9
94.4
98.7
99.2
100.0

100.0
100.0
100.0
100.0

69.0
48.4
34.7
62.0
80.3

99.2
97.5

10.1

98.2
98.7

294
172
107
65
122

100.0

98.1
98.5

8

6

369
192
108
84
177

69
29
8
21
40

28
7

684
636
588
48
48

672
624
576
48
48

98
84
70
14
14

100
87

128
125
122
3
3

127
124
121
S
3

49
47
45
2

45
44
43

2

5
21

74
13

13

1
1

474
453
432
21

9
9
9

100.0
100.0

99.5
99.0
98.2
100.0
100.0

98.7
98.6
98.5

98.7
98.6
98.5

100.0

3
3
3

21

33
33
3S

98.9
98.9
98.9

100.0

2
2

1
1

1

1
1

1

2

272
156
98
58
116

98.9
98.9
98.9

99.5
99.0
98.2

1
1

8
8

8

1

4.4

99.7
99.7

100.0
100.0

100.0
100.0

100.0
100.0

1 0 0 .0
1 0 0 .0

100.0
100.0
100.0

99.3
99.7

2

100.0
100.0

100.0

100.0
100.0

1

99.7
99.7
100.0

1

100.0

1.8

100.0

1

85.4
81.3
76.9

8.5
17.0

1 0 0 .0

371
194
110
84
177

2

1

6

91.5
84.6
79.5
89.7
94.7

100.0

6

100.0

98.8
99.2

6

41

6

t
5

131
46
18
28
85

8
2
2

1
11
38

100.0
100.0

41
32
26
6
9

99.8
99.5
99.2

100.0

99.3
99.7

100.0

100.0
100.0

BAN KS

120

79
220

99.8
99.5
99.2

1
1

O
F

1

DEPOSITS

247
78
39
39
169

419
199
120
79

218
143
99
44
75

1
1

1

AND

Maine— all offices..............
Banks.................................
Unit banks......................
Banks operating branches
Branches.............................

418
198
119
79

36
11
4
7
25

120

OFFICES,

419
199

NUMBER,

Louisiana—all offices.........
Banks.................................
Unit banks.......................
Banks operating branches
Branches.............................

T a b le 103.

N u m b er of B a n k in g O ffices in th e U n ited S tates (S t ates and O th e r A r e a s ), D e c e m b e r 31, 1963— Continued

of bank, and by s t a t e o r a r e a and ty p e o f o f f i c e

grou p ed a c co rd in g t o in su r a n c e s ta tu s and c la s s

bo

to
Commercial and stock savings banks
and nondeposit trust companies

All banks

In­
sured

Members F. R.
System

Non­
insured Total
Total

Na­
tional

1

State

Total

In­
sured

Non­
insured

98.7
98.6
98.5
100.0
1 0 0 .0

Mutual
savings
banta

— ---------

17
18

59
7
2
5
52

59
7
2
5
52

59
7
2
5
52

59
7

33
3

5
52

30

New Hampshire— all offices
Banks.....................................
Unit banks.........................
Banks operating branches.
Branches................................

114
109
104
5
5

111
106

80
76
72
4
4

77
73
69
4
4

55
52
49
3
3

New Jersey— all offices.........
Banks.....................................
Unit banks.......................
Banks operating branches. ,
Branches................................

852
256
96
160
596

849
253
93
180
596

807
235
85
150
572

804
232
82
150
572

493
144
53
91
349

216
52

New Mexico— all offices.......
Banks...................................
Unit banks.......................
Banks operating branches.
Branches................................

140
61
26
35
79

140
61
26
35
79

140
61
26
35
79

140
61
26
35
79

71
30

14

14

4
4

2,396
486

2,368
462
217

1,011

1,906

2,034
336
170
166
1,698

904

1,910

2,062
360
191
169
1,702

26

Nevada— all offices..............
Banks.....................................
Unit banks.........................
Banks operating branches.
Branches................................

New York— all offices...........
Banks.....................................
Unit banks.........................
Banks operating branches. .
Branches3 ...............................




444
418

394
24

101

245

28
24
21
3
4

24

2

139

121

104

1
2

16
41
211
120

91
693

15
14
13

290
283

17

9

1
1

2

1 0 0 .0
1 0 0 .0

2
1
1
34
33
32

19

1
1

1
1

38
164
8

88

31
57
923

34
33
32

1
1

1 0 0 .0

97.4
97.2
97.1
100.0

96.3
96.1
95.8
100.0

1 0 0 .0
1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

1 0 0 .0

45

45

21

21

1 0 0 .0
1 0 0 .0

11
10
24

100.0
100.0

100.0
100.0

1 0 0 .0

1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0
100.0

1 0 0 .0

1 0 0 .0

99.0
96.0
93.1
98.8
99.8

98.9
94.6
91.4
98.2
99.8

11
10
24

55
23

8

15
32

23
19
16
3
4

100.0
100.0

1 0 0 .0
1 0 0 .0

100.0
100.0

95
36
15
21
59

119
37
19
18
82

100.0
100.0

1 0 0 .0

7
21
20

14

1 0 0 .0
1 0 0 .0

100.0
100.0

334
126
47
79
208

334
126
47
79
208

100.0
100.0

1 0 0 .0
1 0 0 .0

100.0
100.0
1 0 0 .0

CORPORATION

26

455
429
405

INSURANCE

444
418
394

26

455
429
405
24
26

Nebraska— all offices..........
Banks...................................
Unit banks....................... .
Banks operating branches ,
Branches................................

DEPOSIT

Com­
mercial
banks
of
deposit

98.7
98.6
98.5
100.0

Non­
Banks deposit
of
trust
com­
de­
posit panies2

All
banks
of
de­
posit

1 0 0 .0

Not
mem­
bers
F.R.S.

EDERAL

Total

Percentage insured

Noninsured

Insured
State and type of bank or office

Mutual savings banks

North Dakota— all offices. .
Banks...................................
Unit banks........................
Banks operating branches.
Branches...............................

197
159
129
SO
38

193
155
125

4
4
4

Ohio—all offices...................
Banks...................................
Unit banks........................
Banks operating branches.
Branches...............................

1,371
554
SSO
224
817

1,370
553

Oklahoma— all offices . . . .
Banks...................................
Unit banks........................
Banks operating branches.
Branches............. ................

435
401

1
1

34

434
400
368
32
34

Oregon— all offices..............
Banks...................................
Unit banks........................
Banks operating branches.
Branches3 .............................

286
52
27
25
234

284
50
25
25
234

2

Pennsylvania— all other...................... 1, 733
Banks.....................................................
628
Unit banks..........................................
401
Banks operating branches.............. '
Branches3 ............................................. 1 ,105

1,720
618
393
225

30

1

1

38

1
1

1

817

1

2

2

13
10

8
2

828
156
74
82
672

824
155
74
81
669

265
31

197
159
129
30
38

193
155
125
30
38

44
39
34
5
5

3

1,367
552
329
223
815

1,366
551
328
223
815

640
217

435
401
369
32
34

434
400
368
32
34

238

285
51
26
25
234

283
49
24
25
234

202
11

1,669
621
399

1,656
611
391

222

220

1,048

1,045

151
16

8
2

116

108

10

8

102

115
423
211

186
25
27

7

4

1

3
94

1
1

27
25
23

169
164
159
5
5

2
2

13
3
2
1

4

4

2
1
1
2

1

2

1
1
2

1
1

1
1

1

1

20

23

28
3

8
2

22

South Carolina-—ail offices.
Banks.....................................
Unit banks.........................
Banks operating branches. .
Branches................................

355
138
87
51
217

351
134
83

4
4
4

355
138
87
51
217

351
134
83
51
217

173
25
9
16
148

10
6

South Dakota— all offices.
Banks...................................
Unit banks........................
Banks operating branches.
Branches..............................

244
173
140
S3
71

243
172
139

244
173
140
33
71

243
172
139
33
71

67
33
28
5
34

4

1

3
25

7
5
2

3

2
6

168
103
70
33
65

4
4

27
25
23

149
114

1
1

2

26
35

4
2

4

2

88

100.0

100.0
100.0

1 0 0 .0

1 0 0 .0

1 0 0 .0

4

3
3
3

64
7
2

64
7

5
57

5
57

43

43

8

8

1

7
35

1

35

1 0 0 .0
1 0 0 .0

100.0
1 0 0 .0

99.6
98.0
96.2

99.6
98.0
96.0
100.0

1 0 0 .0

1
1

1

57
4
53

100 0

1 0 0 .0
100 0

100 0

1
1

1

10

8

99.9
99.8
99.7

1 0 0 .0
1 0 0 .0

1
1

344
149
98
51
195

100

1 0 0 .0

99.9
99.8
99.7

1 0 0 .0

281
54
29
25
227

10

100 0

100.0
100 0

I

1,031
408
264
144
623

1

98.0
97.5
96.9

1 0 0 .0

33

106




68

35
15

98.8
99.6

100.0

10

6

1

141
60
109

98.0
97.5
96.9

4

191

2

1
1

201

99.5
99 4
100.0

98.8
99.6

1

3

310

15
135

51

99.5
99.4
100.0

416
133
85
48
283

1

17
141

217

1

63
57
341

4
4

1
1

159
18

1

4

120

146
114
90
24
32

2

Rhode Island— all offices . .
Banks...................................
Unit banks........................
Banks operating branches.
Branches.............................

1

461

1 0 0 .0

99.4
98.9
98.7
99.1
99.7

99.4
98.9
98.7
99.1
99.7

1 0 0 .0

95.0
88.9

93.1
80.0

1 0 0 .0
1 0 0 .0

100.0
88.2

WO.O

95.7

80.0
94.3

98.9
97.1
95.4

98.9
97.1
95.4

100.0

1

100.0

1 0 0 .0

1 0 0 .0

99.6
99.4
99.3
100 0

99.6
99.4
99.3
WO.O

1 0 0 .0

1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0

1 0 0 .0
1 0 0 .0

100.0
100.0

100.0
100.0
1 0 0 .0

BAN KS

3

234

98
4

O
F

1 ,1 02

10
21

DEPOSITS

3

4

AND

824
155
74
81
669

OFFICES,

828
156
74
82
672

NUMBER,

North Carolina— all offices.
Banks...................................
Unit banks........................
Banks operating branches.
Branches...............................

T ab le 103.

N u m b er o f B a n k in g O f f i c e s in t h e U n ite d S ta t e s (S t a te s and O t h e r A r e a s ), D e c e m b e r 31, 1963— Continued
statu s a nd class of b a n k , an d b y

state

or a r e a

Commercial and stock savings banks
and nondeposit trust companies

All banks

Total

In­
sured

Total

Com­
mercial
banks
of
deposit

99.5
99.0
98.5

100.0

100.0

290
207
162
45
83

100.0
100.0

98.6
98.5
98.5

98.6
98.5
98.5

100.0

100.0

1,144
1,099
1,053
46
45

1,128
1,083
1,037
46
45

538
519
499
20
19

83
78
73
5
5

507
486
465
21

147
52
33

147
52
33
19
95

145
50
31
19
95

61

39

95

145
50
31
19
95

45
27
18
9
18

99
55
39
16
44

98
54
38
16
44

92
49
34
15
43

91
48
33
15
43

50
28
21
7

41

100.0

710
280
163
117
430

710
280
163
117
430

710
280
163
117
430

710
280
163
117
430

379
123
68
55
256

141
61

453
97
61
36
356

452
96
60
36
356

437
93
60
33
344

436
92
59
S3
344

328
25
9
16
303

33
9
4
5
24

Utah— all offices.................
Banks.................................
Unit banks.....................
Banks operating branches
Branches............................

19

10

13

6
7
26

21

20

16
16
16

100.0

100.0

98.6
96.2
93.9

98.6
96.2
93.9

100.0
100.0

100.0

100.0

100.0
100.0
100.0

100.0

8

100.0

100.0
100.0

21

1 0 0 .0

1 0 0 .0

1 90

100.0
100.0
100.0
100.0

22

94

100.0

100.0

75
58

99.8
99.0
98.4

99.8
98.9
98.3

41
20
80

100.0
100.0
100.0
100.0
100.0

100.0
100.0
100.0
100.0

12

12
17

100.0
100.0

100.0
100.0

100.0
100.0
100.0
100.0
100.0

CORPORATION

1,128
1,083
1,037
46
45

8

INSURANCE

1,144
1,099
1,053
46
45

200

Mutual
savings
banks

DEPOSIT

31

89
271

560
289

1

State

3
5
23

Texas— all offices................
Banks.................................
Unit banks.....................
Banks operating branches
Branches............................




All
banks
of
de­
posit

99.5
99.0
98.5

Total

Non­
insured

239
74
35
89
165

271

Washington— all offices...
Banks.................................
Unit banks.....................
Banks operating branches
Branches 3 ..........................

Na­
tional

Not
mem­
bers
F.R.S.

In­
sured

560
289
200
89
271

565
294

Virginia— all offices...........
Banks.................................
Unit banks......................
Banks operating branches
Branches............................

Percentage insured

565
294
205
89
271

Tennessee— all offices.......
Banks.................................
Unit banks......................
Banks operating branches
Branches............................

Vermont— all offices.........
Banks.................................
Unit banks......................
Banks operating branches
Branches............................

Non­
Banks deposit
trust
of
com­
de­
posit panies2

Mutual savings banks

Noninsured

Members F. R.
System

Non­
insured Total

of o ffice

FEDERAL

Insured
State and type of bank or office

an d t y p e

14
2

g rouped accord in g to in s u r a n c e

76
76
76

33
33
88

72
72
72

741
576
475
101
165

738
573
472
101
165

126
104
94
10

71
59
53
6

22

12

541
410
325
85
131

64
63
62
1

64
63
62
1

64
63
62
1

35
34
83
1

14
14
14

1

1

1

1

13

4

9

13

4

1

1

8

12

2

2

2

2

2

147

99.7
99.7
99.6
100.0

99.9
99.8
99.8
100.0

2

10

99.5
99.5
99.5

2

2

99.5
99.5
99.5

1

745
580
479
101
165

741
576
475
101
165

64
63
62
1

1
1

1

4
4
4

1
1

1

1
1

1

2
2

2

4
4
4

3
3
8

1
1
1

1 0 0 .0

15
15
15

1 0 0 .0

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0
100.0

100.0
100.0
1 0 0 .0

1 0 0 .0

O ther areas
Pacific Islands—
-all offices
Banks
Unit banks ®

4

Branches ®
Panam a Canal Zone---all offices

1

I

1
12

4

4

30.8

30.8

33.3

33.3

93.2
63.6
88.8
75.0
95.6

9

93.2
63.6
33.3
75.0
95.6

1

1

1
4

4

8

OFFICES,

181
181
181

181
181
181

NUMBER,

182
182
182

182
182
182

AND

7

3
8
136

137
7
1
6
130

Virgin Islands— all offices
...
Banks
.............................................
Unit banks
..
Banks operating branches
Branches ®
..............................................

10

7

3

1

11

3
1
2
7

4
2
2
6

11

8
8
136

137
7
1
6
130

137
7
1
6
130
7

3

2

1
1

1

1

1

1
1

8
2

1

6

1

6

6

1
2

4

10

4
2
2
6
1
1

1
4

1

2
1

70.0
33.3

87.5
33.3

1

1

1

1

50.0
85.7

1 0 0 .0

2

50.0

Nondeposit trust companies are excluded in computing these percentages.
Includes one trust company in Massachusetts operating one branch, member of the F.R. System.
Includes the following branches of banks located in other states or in Puerto Rico: 1 noninsured branch in Massachusetts and 1 in Pennsylvania of a noninsured New York
bank; 4 insured branches in New York of 2 insured banks in Puerto Rico not members of the F. R. System; 1 insured branch in Pennsylvania of a New Jersey bank member of F. R.
System; 1 insured branch in Oregon and 2 in Washington of a California bank member F. R. System.
4 United States possessions (American Samoa, Guam, Midway Islands, and Wake Island); Trust Territories (Kwajalein, Palau Islands, Ponape Islands, Saipan and Truk Atoll).
5 American Samoa.
6 One noninsured branch in Caroline Islands, Truk Atoll (Moen Island) and 4 branches in the Mariana Islands (3 insured not members of F. R. System on Guam and 1 noninsured
on Saipan) of an insured bank in California member of the F. R. System. Six noninsured branches of an insured bank in Hawaii not a member of the F. R. System—2 in Caroline
Islands (Palau Islands, Koror and Ponape Islands, Kolina); 2 in Marshall Islands, Kwajalein Atoll; 1 on Midway Islands; 1 on Wake Island, and 1 insured branch on Guam.
7 Two noninsured branches of 2 insured banks in New York members of the F. R. System.
^
8 Includes 15 insured branches not members of the F. R. System of 2 insured banks in New York members of the F. R. System.
9 Includes 4 insured branches not members of the F. R. System of an insured bank in New York a member of the F. R. System.
Back figures: See the Annual Report for 1962, pp. 108-115, and earlier reports.

BAN KS

147

O
F

P uerto R ico— all offices
Banks .................................................
Unit banks
Banks operating branches
Branches 8 ..............................................

DEPOSITS

Branches

1
2
8




i
to
^

T a b le 104.

N u m b er and D e p o s its o f A l l B a n k s in th e U n ite d S t a t e s (S t a te s and O t h e r A r e a s ), D e ce m b e r 20, 1963
banks

g ro u ped

according to in su r an c e

statu s and

by

Number of banks

district an d

state

Deposits (in thousands of dollars) 1
120

Commercial and stock savings
banks and nondeposit
trust companies
FDIC District
and State

All
banks 2

Noninsured
In­
sured

Banks
of de­
posit 2

All
banks

Non­
deposit Total
trust
com­
panies

In­
sured

N oninsured

In­
sured

Non­
insured

T otal

In­
sured

_Non­
insured

320,745,934

276,229,639

274,646,629

1,583,010

44,516,295

38.657.119

5.859,176

179

319,613,911

275,097,818

273,634,741

1,463,077

44,516,093

38.657.119

,974

1

1,132,023

1,131,821

1,011,888

119,933

178

24,159,563
90,256,584
32,480,294
15,917,742
13,874,006
15,902,156
22,079,775
24,823,610
8,280,396
11,067,289
20,953,288
40,951,231

11,647,837
62,592,113
29,846,089
15,278,632
13,874,006
15,902,156
21,990,775
24,823,610
7,877,657
11,067,289
20,953,288
40,376,187

11,466,108
61,885,634
29,815,636
15,103,418
13,823,525
15,863,319
21,958,773
24,755,721
7,766,793
11,035,764
20,904,575
40,267,363

181,729
706,479
30,453
175,214
50,481
38,837
32,002
67,889
110,864
31,525
48,713
108,824

12,511,726
27,664,471
2,634,205
639,110

2,556,592
259,556
1,740,768
1,703,184
30,980,615

2,556,592
252,560
1,740,768
1,703,184
30,980,615

2,556,592
244,902
1,732,375
1,699,960
30,980,615

7,658
8,393
3,224

2,532,662
2,821,480
798,881
1,932,959
6,030,498

2,507,326
2,807,324
798,881
1,932,959
6,011,280

25,336
14,156

3,608,403
803,086
754,848
21,163,649
5,362,329

3,588,483
793,774
754,848
21,119,143
5,355,242

19,920
14,312

13,291

14,078

13,569

13,283

237

O ther areas...........

15

14

8

6

FDIC D istrict
District 1.................
District 2 3 ..............
District 3 .................
District 4 .................
District 5 .................
District 6 .................
District 7 .................
District 8 .................
District 9 .................
District 10...............
District I I ...............
District 12 4.............

737
778
1,182
894
1,245
1,520
1,388
1,683
1,165
1,713
1,372
416

407
628
1,173

384
596
1,162
881
1,186
1,492
1,370
1,660
1,150

20

State
Alabama..................
Alaska......................
Arizona....................
Arkansas..................
California................

242
13
13
242
155

242
13
242
155

227
135

227
64

194
58

22

20

14
385

14
385

20

14
382

2,532,662
6,028,962
985,710
1,932,959
6,030,498

424

424

370
7
27
1,003
432

3,608,403
808,086
754,848
21,163,649
5,423,577

Colorado..................
Connecticut.............
Delaware.................
District of Columbia
Florida.....................
Georgia....................
Hawaii.....................
Idaho.......................

Illinois......................
Indiana....................
http://fraser.stlouisfed.org/

888

1,245
1,520
1,380
1,683
1,164
1,713
1,372
410

12

12

12

27
1,009
441

27
1,009
437

Federal Reserve Bank of St. Louis

1,666

1,354
390
242
9
12

238
149

330

8

7
58
22

6

19
13
41
17
8

330

330
150
9

6

152
149
9

6

1

202

6,653,477
27,664,269
2,634,205
639,110

5,858,249

725

89,000

88,275

'402,739

402,739

575,044

575,044

6,996

6,996

3,207,482
186,829

3,207,482
186,829

01,248

61,248

19,218

44,506
7,087

202

CORPORATION

13,583

INSURANCE

14,093

50 States and
D. C .................

DEPOSIT

Total

T otal Uni led
S ta le s..............

24

Mutual savings banks

FEDERAL

Total

Commercial and stock savings
banks and nondeposit
trust companies

Mutual savings banks

Kansas.......................
K en tu ck y..................
Louisiana..................
M a in e ........................

O{ 4
593
348
199
78

t.^4
593
348
199
46

oa/
591
341
198
40

M a ry lan d ..................
M assachusetts.........
M ich igan...................
M innesota.................
M ississippi................

124
342
367
708
194

118
162
367
707
194

117
157
365
699
192

M issouri....................
M on ta n a ...................
N ebraska...................
N eva d a ......................
New H am pshire.. . .

636
125
429
7
109

636
125
429
7
76

624
124
418
7
73

New Jersey...............
New M e x ico .............
New York 5...............
North Carolina........
North D a k o ta .........

256
61
486
156
159

235
61
360
156
159

O h io............................
Oklahom a.................
O regon.......................
P ennsylvania...........
Rhode Island ...........

554
401
52
628
18

South C arolina........
South D a k ota ..........
Tennessee..................
T exa s..........................
U ta h ...........................
V erm ont....................
Virginia......................
W ashington..............
W est Virginia...........
W isconsin..................
W yom in g...................

l o w a ....................................

o,ooy,yoi
2,881,918
2,834,009
3,459,477
1,263,843

o ,ouy ,yoi
2,881,918
2,834,009
3,459,477
736,566

0 ,0 0 0 ,0 / 0
2,880,793
2,825,071
3,458,622
707,562

1,125
8,938
855
29,004

3,655,749
13,303,934
11,188,867
5,452,602
1,678,513

3,016,639
6,068,584
11,188,867
5,049,863
1,678,513

2,884,329
5,975,470
11,164,878
5,040,423
1,667,170

132,310
93,114
23,989
9,440
11,343

7,172,535
980,869
2,012,453
616,499
1,216,966

7,172,535
980,869
2,012,453
616,499
499,052

7,155,314
980,869
2,007,720
616,499
489,370

17,221

232
61
336
155
155

10,282,387
892,938
77,940,240
3,549,154
920,855

8,559,436
892,938
52,185,751
3,549,154
920,855

8,559,436
892,938
51,556,505
3,520,028
819,768

552
401
51
621

551
400
49
611

10

8

13,014,753
3,134,891
2,532,261
19,465,541
1,712,626

12,987,569
3,134,891
2,475,261
16,858,520
1,044,834

138
173
294
1,099
52

138
173
294
1,099
52

134
172
289
1,083
50

1,222,311
926,070
4,192,428
14,860,105
1,176,222

55
280
97
182
580
63

49
280
93
182
576
63

48
280
92
181
573
63

7

32

26

6
180

482,577

44,700

639,110
1,421,801

5,813,549

402,739

402,739

4,733
9,682

629,246
29,128
101,087

25,754,489

25,754,489

12,985,706
3,134,560
2,464,878
16,829,930
1,009,061

1,863
331
10,383
28,590
35,773

27,184

27,184

57,000
2,607,021
667,792

57,000
2,607,021
667,792

1,222,311
926,070
4,192,428
14,860,105
1,176,222

1,218,849
925,733
4,182,974
14,820,640
1,173,285

3,462
337
9,454
39,465
2,937

633,232
4,066,421
3,739,368
1,491,148
5,467,331
505,365

477,321
4,066,421
3,228,320
1,491,148
5,439,579
505,365

477,321
4,066,421
3,197,486
1,480,834
5,438,653
505,365

30,834
10,314
926

61,305
22,471
994,937
53,310

61,305
22,471
994,937
53,108

917,704
53,108

AND

717,914
1,722,951

OFFIC E S,

717,914
1,722,951

NUM BER,

33

172

527,277
639,110
7,235,350

155,911
511,048

' 27,752

DEPOSITS

155,911
511,048

’ 27,027
O
F

O th e r area
1

1

11

11
2

3

1

41,076

20,229
22,471
77,233

202

Data are as of December 31, 1963 for some noninsured banks.
Includes 17 noninsured banks of deposit (2 in Iowa, 1 2 in New York, 2 in Texas, and 1 in the Virgin Islands') for which data are not available.
Includes Puerto Rico and the Virgin Islands.
Includes Alaska, Hawaii, Pacific Islands, and the Panama Canal Zone.
Includes deposit data for 4 insured branches operated by 2 insured banks in Puerto Rico.
6 In United States possessions (American Samoa, Guam, Midway Islands, and Wake Island) and Trust Territories (Kwajalein, Palau Islands, Ponape Island, Saipan and Truk Atoll),
.
consists ot deposit data for 1 noninsured bank in American Samoa and for the following branches: 1 noninsured branch on Truk Atoll (Moen Island) in the Caroline Islands and 4
branches m the Mariana Islands (3 insured on Guam and 1 noninsured on Saipan) operated by an insured bank in California; and 1 insured branch on Guam and 6 noninsured branches
( on v idv\ ay Islands, 1 on Koror Island Palau Islands, 2 in Marshall Islands Kwajalein Atoll, 1 on Ponape Island (Kolonia), and 1 on Wake Island) operated by an insured bank
,

BANKS

Pacific Islands 6. . . .
Panama Canal Zone7
Puerto R ico 8. . . .
Virgin Islands 9. .
1
2
3
4
6

1 1 ilEWEll.
1
7
8
9

Consists of deposit data for 2 noninsured branches operated by 2 insured banks in New York.
Includes deposit data for 15 insured branches operated by 2 insured banks in New York.
Includes deposit data for 4 insured branches operated by an insured bank in New York.
Note: Data for the above branches are not included in the figures for the States in which tiie parent banks are located.
hack figures: *ee the Annual Report for 1962, pp. 116 117, and earlier reports.




^
to
*^1

A ssets

Table 105.

Table 106.

Table 107.

Table 108.
Table 109.

Table 110.

Tabel 111.

Table 112.
Table 113.




and

L ia b il it ie s

of

B anks

Assets and liabilities of all banks in the United States (States and other areas),
June 29, 1963
Banks grouped according to insurance statics and type of bank
Assets and liabilities of all banks in the United States (States and other areas),
December 20, 1963
Banks grouped according to insurance status and type of bank
Assets and liabilities of all banks in the United States (States and other areas),
December 20, 1963
Banks grouped by district and State
Assets and liabilities of all insured banks in the United States (States and other
areas), call dates June 30, 1961 through December 20, 1963
Assets and liabilities of insured commercial and insured mutual savings banks in
the United States (States and other areas), call dates September 28, 1962 through
December 20, 1963
Average assets and liabilities and assets and liabilities per $100 of total assets of
insured commercial banks in the United States (States and other areas), 1963
B y class of bank
Assets and liabilities and assets and liabilities per $100 of total assets of insured
commercial banks operating throughout 1963 in the United States (States and
other areas), December 20, 1963
Banks grouped according to amount of deposits
Average assets and liabilities of insured commercial banks in the United States
(States and other areas), by State, 1963
Distribution of insured commercial banks in the United States (States and other
areas), December 20, 1963
Banks grouped according to amount of deposits and by ratios of selected items
to 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 aggre­
gate book value, on the date of call, less valuation and premium
reserves.

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.

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.

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.

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 50 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.
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.
Individual loan items are reported gross instead of net of valuation
reserves. Accordingly, reserves for losses on loans are shown sep­
arately.




Additional data on assets and liabilities of all banks as of June 29,
1963, and December 20, 1963, and all insured banks as of March 18,
1963, are shown in the Corporation’s semiannual publication, “Assets,
Liabilities, and Capital Accounts, Commercial and Mutual Savings
Banks,” Report of Calls No. 63 and No. 64, and Report of Call No. 66.
Data from Call N o. 65, September 30, 1963, were not tabulated for
all insured banks. Comparable tabulations for State and national
banks were not feasible because of a change in the form used for
national institutions.

Sources of data
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; and reports from
individual banks.

Table 105.

A

ssets

and

L ia b il it ie s

of

A

ll

B anks

in

th e

U

n it e d

S t a t e s (S t a t e s

an d

Oth er A

r e a s ),

June

29, 1963

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF 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

8,694,470

301,062,525

298,808,700

1,991,976

52,199,261
3,637,881
16,529,350
12,720,762
620,118
252,372
18,438,778

51,665,841
3,596,056
16,529,350
12,321,213
575,162
245,254
18,398,806

533,420
41,825
399,549
44,956
7,118
39,972

51,309,072
3,505,837
16,529 350
12,207,875
433,317
252,372
18,380,321

50,877,148
3,486,794
16,529,350
11,876,629
388,686
245,254
18,350,435

Securities— t o ta l................................................... 107,891,759
69,841,630
U. S. Gov’t, obligations (incl. guaranteed). . . .
28,323,415
Obligations of States and subdivisions.............
Securities of Federal agencies and corporations
3,623,117
(not guaranteed by U. S .)..........................
4,202,855
Other bonds, notes, and debentures..................
1,900,742
Corporate stocks.................................................

104,812,930
67,667,433
28,037,856

3,078,829
2,174,197
285,559

96,159,789
63,675,682
27,863,131

3,597,544
3,909,101
1,600,996

25,573
293,754
299,746

Loans and discounts, net— to ta l..................... 180,398,144
3,253,605
Valuation reserves...................................................
Loans and discou nts, gross— t o ta l.................. 183,651,749
Real estate loans— total..................................... 71,247,490
2,290,986
Secured by farm land.......................................
Secured by residential properties:
Insured by F H A ........................................... 16,883,437
13,055,768
Insured or guaranteed by V A ......................
Not insured or guaranteed by FHA or VA . 25,987,706
13,029,593
Secured by other properties..............................
1,946,741
Loans to commercial and foreign banks..........
8,675,971
Loans to other financial institutions.................
4,660,503
Loans to brokers and dealers in securities.......
2,242,494
Other loans for carrying securities....................
Loans to farmers directly guaranteed by the
802,359
Commodity Credit Corporation ..............
6,758,080
Other loans to farmers (excl. real estate)
Commercial and industrial loans....................... 50,298,796
Other loans to individuals.................................. 33,178,869
3,840,446
All other loans (including overdrafts)..............

175,498,110
3,226,382
178,724,492
67,032,568
2,266,236

8,593,888
4,024,073
485,309
4,084,506

Cash items in process of collection....................

M iscellaneous assets— t o t a l..............................

Bank premises owned, furniture and fixtures. .

Other real estate— direct and indirect..............
http://fraser.stlouisfed.org/
All other miscellaneous assets............................
Federal Reserve Bank of St. Louis

Insured

t Non­
insured

261,849

48,020,527

41,579,882

6,440,645

392,567
17,649

39,357
1,394

890,189
132,044

788,693
109,262

101,496
22,782

300,622
40,862
6,339
27,095

30,624
3,769
779
2,791

512,887
186,801

444,584
186,476

68,303
325

58,457

48,371

10,086

95,217,591
63,122,231
27,610,889

790,836
493,504
211,364

151,362
59,947
40,878

11,731,970
6,165,948
460,284

9,595,339
4,545,202
426,967

2,136,631
1,620,746
33,317

2,994,936
832,398
793,642

2,973,360
780,871
730,240

21,533
46,396
18,039

43
5,131
45,363

628,181
3,370,457
1,107,100

624,184
3,128,230
870,756

3,997
242,227
236,344

4,900,034
27,223
4,927,257
4,214,922
24,750

145,732,928
3,018,350
148,751,278
36,938,610
2,240,872

144,965,172
3,010,546
147,975,718
36,768,959
2,221,058

726,410
7,747
734,157
154,542
18,968

41,346
57
41,403
15,109
846

34,665,216
235,255
34,900,471
34,308,880
50,114

30,532,938
215,836
30,748,774
30,263,609
45,178

4,132,278
19,419
4,151,697
4,045,271
4,936

16,255,516
12,054,896
23,930,946
12,524,974
1,915,015
8,646,348
4,629,754
2,211,103

627,921
1,000,872
2,056,760
504,619
31,726
29,623
30,749
31,391

6,860,820
2,837,431
15,259,523
9,739,964
1,935,523
8,671,451
4,645,504
2,234,816

6,830,269
2,803,323
15,199,048
9,715,261
1,903,897
8,641,977
4,614,755
2,204,117

26,597
83,485
63,816
21,676
31,596
29,374
21,874
25,311

8,954
623
6,659
3,027
30

9,425,247
9,251,573
8,731,898
2,809,713
11,118
4,371
14,999
6,986

597,370
966,764
1,996,285
479,916

8,875
5,388

10,022,617
10,218,337
10,728,183
3,289,629
11,218
4,520
14,999
7,678

799,576
6,733,102
50,022,702
32,921,628
3,812,696

2,783
24,978
276,094
257,241
27,750

802,359
6,755,624
50,141,403
32,802,076
3,823,912

799,576
6,730,646
49,868,910
32,639,569
3,803,312

2,783
24,771
264,989
160,709
18,208

207
7,504
1,798
2,392

8,411,701
3,960,921
467,336
3,983,444

182,187
63,152
17,973
101,062

7,860,736
3,703,376
454,998
3,702,362

7,748,789
3,682,068
444,795
3,621,926

82,163
13,584
2,729
65,850

29,784
7,724
7,474
14,586

Banks of
deposit

Nondeposit
trust
com­
panies 1

100

100

149
692

2,456 I
157,393
376,793
16,534

2,456
153,792
282,059
9,384

3,601
94,734
7,150

733,152
320,697
30,311
382,144

662,912
278,853
22,541
361,518

70,240
41,844
7,770
20,626

CORPORATION

340,388,582

Demand balances with banks in U. S...............
Other balances with banks in U. S....................

Total

Insured

INSURANCE

349,083,052
Cash, balances w ith other banks, and cash
collection item s— t o ta l...............................
Currency and coin...............................................

I

DEPOSIT

Total

Total

FEDERAL

Insured

Non­
insured

340,388,582

8,694,470

301,062,525 I 298,808,700

1,991,976

261,849

48,020,527

41,579,882

6,440,645

Business and personal deposits— total..........
Individuals, partnerships, and corporations—
demand.....................................................
Individuals, partnerships, and corporations—
time...........................................................
Savings deposits................................................
Deposits accumulated for payment of personal
loans..........................................................
Other deposits of individuals, partnerships,
and corporations.......................................
Certified and officers’ checks, letters of credit,
and travelers’ checks, etc............................

259,919,728

253,187,093

6,732,635

216,703,415

215,632,887

976,362

94,166

43,216,313

37,554,206

5,662,107

116,735,180

116,024,030

711,150

116,424,842

115,731,286

620,910

72,646

310,338

292,744

17,594

138,653,986
117,471,566

132,715,299
111,621,506

5,938,687
5,850,050

95,756,603
74,599,192

95,462,429
74,390,626

272,666
201,586

21,508
6,980

42,897,383
42,872,864

37,252,870
37,230,880

5,644,513
5,641,484

Total liabilities and capital accounts................ 349,083,052

792,285

790,380

1,905

791,558

789,648

1,905

782

732

20,890,145

20,303,413

86,782

20,365,858

20,282,155

69,175

14,528

24,287

21,258

4,530,562

4,447,764

82,798

4,521,970

4,439,172

82,786

12

8,592

8,592

Government deposits—total.............................
United States Government—demand...............
United States Government— time.....................
States and subdivisions— demand.....................
States and subdivisions—time...........................

31,372,284
11,090,245
254,245
12,491,924
7,535,870

31,127,763
11,026,837
250,834
12,388,673
7,461,419

244,521
63,408
3,411
103,251
74,451

31,341,173
11,031,616
254,209
12,489,900
7,515,448

I 31,098,068
I 11,019,039
1
250,798
fl 12,386,649
7,441,582

241,092
60,565
3,411
103,250
73,866

2,013

31,111
8,629
36
2,024
20,422

29,695
7,798
36
2,024
19,837

Domestic interbank and postal savings de­
posits—total ..................................................
Commercial banks in the U. S.— demand........
Commercial banks in the U. S.—time..............
Mutual savings banks in the U. S.— demand..
Mutual savings banks in the U. S.—time........
Postal savings .
....................
..............

14.232.711
12.963.712
289,734
813,446
148,555
17,264

13,980,532
12,924,632
281,667
710,091
46,888
17,254

252,179
39,080
8,067
103,355
101,667

13,979,354
12,924,607
280,514
710,091
46,888
17,254

252,035
38,936
8,067
103,355
101,667

144
144

1,178
25
1,153

1,178
25
1,153

10

14,231,533
12,963,687
288,581
813,446
148,555
17,264

4,930,950

4,854,482

76,468

4,930,950

4,854,482

76,427

41

631,699

626,447

5,252

631,699

626,447

5,213

39

2,884,174
1,293,937
121,140

2,856,924
1,264,201
106,910

27,250
29,736
14,230

2,884,174
1,293,937
121,140

2,856,924
1,264,201
106,910

27,250
29,734
14,230

2

Total deposits............................................... 310,455,673
Demand......................................................... 160,550,705
Time.............................................................. 149,904,968

303,149,870
159,412,675
148,787,195

7,305,803
1,188,030
6,167,773

267,207,071
160,221,097
106,985,974

265,564,791
159,101,492
106,463,299

1,545,916
1,044,749
501,167

96,364
74,856
21,508

43,248,602
329,608
42,918,994

37,585,079
811,183
37,273,896

5,663,523
18,425
5,645,098

9,195,443
1,546,345
7,649,098

9,009,288
1,499,211
7,510,077

166,592
45,231
121,361

19,563
1,903
17,660

741,016
18,800
722,216

580,589
17,200
563,389

160,427
1,600
158,827

276,402,514 J274,574,079

1,712,508

115,927

43,989,618 I 38,165,668

5,823,950

279,468
30,000
83,191
92,234
74,043

145,922

4,030,909 1 3,414,214
150 1
150

616,695

2,780,i64 I 2,439,558
1,250,595 J
974,506

340,606
276,089

248

50

Total liabilities (excluding capital ac­
counts) ....................................................

320,392,132

312,739,747

7,652,385

Capital accounts— total.....................................
Preferred capital..................................................
Common stock.....................................................
Surplus.................................................................
Undivided profits and reserves..........................

28,690,920
88,354
7,239,903
14,759,220
6,603,443

27,648,835
58,354
7,114,162
14,258,908
6,217,411

1,042,085
30,000
125,741
500,312
386,032

Number of banks 2 ......................................................

14,006

13,527

479

24,660,011
88,204
7,239,903
11,979,056
5,352,848

1 24,234,621
[
58,204
fl 7,114,162
1 11,819,350
I 5,242,905

13,494 1

13,196

42,550
67,472
35,900

512 1

331

1 Amounts shown as deposits are special accounts and uninvested trust funds with the latter classified as demand deposits of individuals, partnerships, and corporations.
* Includes 14 noninsured banks of deposit for which asset and liability data are not available.
Back figures: See the Annual Report for 1962, pp. 120-121, and earlier reports.




181

BANKS

346,582
48,734
297,848

10

O
F

9,589,877
1,516,411
8,073,466

LIABILITIES

9,936,459
1,565,145
8,371,314

585

AND

Miscellaneous liabilities— total .....................
Rediscounts and other borrowed m oney..........
All other miscellaneous liabilities......................

1

1,416
831
ASSETS

Foreign government and bank deposits—
total.................................................................
Foreign governments, central banks, etc.—
d e m a n d ....................
.
Foreign governments, central banks, etc.—
........
time
Banks in foreign countries— demand................
Banks in foreign countries—tim e......................

2 ,0 1 2

3,029

Table 106.

A s s e t s a n d L i a b i l i t i e s o f A l l B a n k s in t h e U n it e d S t a t e s ( S t a t e s a n d O t h e r A r e a s ) , D e c e m b e r 20,

1963 1

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 a n d t y p e o f b a n k

(Amounts in thousands of dollars)
Commercial and stock savings banks and
nondeposit trust companies

All banks

Mutual savings banks

Nonirisured

Asset, liability, or capital account item
Total

Insured

Non­
insured

Total

Insured
Banks of
deposit

Total

Insured

Non­
insured

311,790,848

1,995,391

269,750

49,621,635

43,018,983

6,602,652

51,677,082
4,200,855
17,149,613
12,470,149
541,123
308,900
17,006,442

51,166,975
4,157,140
17,149,613
12,086,463
508,860
298,992
16,965,907

510,107
43,715

50,445,462
4,053,057
17,149,613
11,644,517
367,817
298,992
16,931,466

366,631
16,608

39,064
1,386

825,925
129,804

721,513
104,083

104,412
25,721

383,686
32,263
9,908
40,535

50,851,157
4,071,051
17,149,613
11,956,932
399,995
308,900
16,964,666

282,025
28,252
9,633
30,113

30,390
3,926
275
3,087

513,217
141,128

441,946
141,043

71,271
85

41,776

34,441

7,335

Securities— total................................................... 109,802,755
69,223,331
U. S. Gov’t, obligations (incl. guaranteed). . . .
Obligations of States and subdivisions.............
30,288,340
Securities of Federal agencies and corporations
4,242,185
(not guaranteed by U. S .)..............................
4,061,148
Other bonds, notes, and debentures..................
Corporate stocks.................................................
1,987,751

106,836,622
67,135,755
30,022,176

2,966,133
2,087,576
266,164

98,392,612
63,351,799
29,847,476

97,472,029
62,811,737
29,611,314

764,349
480,335
197,340

156,234
59,727
38,822

11,410,143
5,871,532
440,864

9,364,593
4,324,018
410,862

2,045,550
1,547,514
30,002

4,215,668
3,787,856
1,675,167

26,517
273,292
312,584

3,526,542
837,401
829,394

3,503,243
784,083
761,652

22,566
46,317
17,791

733
7,001
49,951

715,643
3,223,747
1,158,357

712,425
3,003,773
913,515

3,218
219,974
244,842

Loans and discounts, net— total..................... 193,442,024
Valuation reserves...................................................
3,240,542
Loans and discounts, gross— total.................. 196,682,566
Real estate loans— total.....................................
75,463,419
2,375,207
Secured by residential properties:
Insured by F H A ........................................... 17,742,438
Insured or guaranteed by V A ...................... 13,336,247
Not insured or guaranteed by FHA or VA . 27,946,331
14,063,196
Secured by other properties..............................
3,621,097
Loans to commercial and foreign banks...........
9,512,163
Loans to other financial institutions.................
5,382,195
Loans to brokers and dealers in securities.......
Other loans for carrying securities....................
2,522,619
Loans to farmers directly guaranteed by the
821,039
Commodity Credit Corporation....................
6,669,397
Other loans to farmers (excl. real estate).........
Commercial and industrial loans....................... 53,425,925
Other loans to individuals.................................. 35,195,876
4,068,836
All other loans (including overdrafts)..............

188,232,982
3,213,551
191,446,533
70,980,241
2,350,099

5,209,042
26,991
5,236,033
4,483,178
25,108

156,762,522
3,003,146
159,765,668
39,286,646
2,323,381

155,933,367
2,994,811
158,928,178
39,088,205
2,303,251

784,583
8,243
792,826
183,714
19,118

44,572
92
44,664
14,727
1,012

36,679,502
237,396
36,916,898
36,176,773
51,826

32,299,615
218,740
32,518,355
31,892,036
46,848

4,379,887
18,656
4,398,543
4,284,737
4,978

17,016,748
12,317,825
25,767,552
13,528,017
3,610,250
9,448,495
5,349,920
2,488,339

725,690
1,018,422
2,178,779
535,179
10,847
63,668
32,275
34,280

7,092,692
2,860,581
16,444,535
10,565,457
3,605,480
9,505,021
5,357,917
2,510,310

7,047,238
2,817,152
16,380,889
10,539,675
3,594,633
9,441,479
5,325,642
2,476,760

43,074
56,916
22,392
10,838
63,242
21,556
28,267

42,214

3,240
355
6,730
3,390
9
300
10,719
5,283

10,649,746
10,475,666
11,501,796
3,497,739
15,617
7,142
24,278
12,309

9,969,510
9,500,673
9,386,663
2,988,342
15,617
7,016
24,278
11,579

680,236
974,993
2,115,133
509,397

816,838
6,647,074
53,144,882
34,919,957
4,040,537

4,201
22,323
281,043
275,919
28,299

821,039
6,666,898
53,259,401
34,708,095
4,044,861

816,838
6,644,575
52,984,200
34,531,746
4,024,100

4,201
22,106
265,924
174,520
18,458

217
9,277
1,829
2,303

2,499
166,524
487,781
23,975

2,499
160,682
388,211
16,437

5,842
99,570
7,538

8,755,763
4,299,877
491,018
3,964,868

8,573,252
4,2,85,562
472,135
3,865,555

182,511
64,315
18,883
99,313

8,049,698
3,967,192
459,235
3,623,271

7,939,990
3,945,490
449,310
3,545,190

79,828
14,001
2,737
63,090

29,880
7,701
7,188
14,991

706,065
332,685
31,783
341,597

633,262
290,072
22,825
320,365

72,803
42,613
8,958
21,232

Miscellaneous assets— total..............................

Bank premises owned, furniture and fixtures.
 estate— direct and indirect...............
Other real


..........i26
730

CORPORATION

314,055,989

INSURANCE

8,867,793

Cash, balances with other banks, and cash
collection items— total...............................
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...................

DEPOSIT

354,809,831

FEDERAL

Total assets................................................................ 363,677,624

Nondeposit
trust
com­
panies 2

Total liabilities and capital accounts................ 363,677,624

354,809,831

8,867,793

314,055,989

311,790,848

1,995,391

269,750

49,621,635

43,018,983

6,602,652

Business and personal deposits— total..........
Individuals, partnerships, and corporations—
demand.........................................................
Individuals, partnerships, and corporations—
time...............................................................
Savings deposits................................................
Deposits accumulated for payment of personal
loans..........................................................
Other deposits of individuals, partnerships,
and corporations.......................................
Certified and officers’ checks, letters of credit,
and travelers’ checks, etc............................

273,601,434

266,669,373

6,932,061

229,116,591

228,042,312

974,764

99,515

44,484,843

38,627,061

5,857,782

124,561,291

123,842,677

718,614

124,272,343

123,561,302

635,757

75,284

288,948

281,375

7,573

144,518,476
120,792,950

138,370,425
114,738,550

6,148,051
6,054,400

100,330,888
76,619,645

100,033,046
76,413,701

273,618
195,873

24,224
10,071

44,187,588
44,173,305

38,337,379
38,324,849

5,850,209
5,848,456

1,646

838,096

836,450

1,646

631

631

92,005

22,873,147

22,782,895

76,099

14,153

13,652

11,899

4,521,667

4,456,271

65,396

4,513,360

4,447,964

65,389

7

8,307

8,307

Government deposits— total.............................
United States Government—
-demand...............
United States Government— time.....................
States and subdivisions— demand.....................
States and subdivisions— time...........................

27,374,205
6,759,062
271,714
12,363,606
7,979,823

27,171,277
6,734,239
268,300
12,263,435
7,905,303

202,928
24,823
3,414
100,171
74,520

27,344,044
6,753,379
271,617
12,361,560
7,957,488

27,142,510
6,729,214
268,203
12,261,389
7,883,704

200,865
23,496
3,414
100,171
73,784

669
669

30,161
5,683
97
2,046
22,335

28,767
5,025
97
2,046
21,599

Domestic interbank and postal savings de­
posits—total ..................................................
Commercial banks in the U. S.— demand........
Commercial banks in the U. S.—time..............
Mutual savings banks in the U. S.— demand..
Mutual savings banks in the U. S.— time........
Postal savings......................................................

14,493,776
13,358,838
275,960
723,982
117,558
17,438

14,270,000
13,323,112
269,914
610,294
49,252
17,428

223,776
35,726
6,046
113,688
68,308

14,268,764
13,323,080
268,710
610,294
49,252
17,428

223,614
35,564
6,046
113,688
68,306

162
162

1,236
32
1,204

1,236
32
1,204

10

14,492,540
13,358,806
274,756
723,982
117,558
17,438

5,276,519

1,753

1,394
658
736

AND

837,081
22,794,794

ASSETS

838,727
22,886,799

LIABILITIES

10

5,193,098

83,421

5,276,464

5,193,043

83,375

46

55

55

847,436

841,612

5,824

847,414

841,590

5,780

44

22

22

3,068,718
1,218,988
141,377

3,045,448
1,177,311
128,727

23,270
41,677
12,650

3,068,685
1,218,988
141,377

3,045,415
1,177,311
128,727

23,270
41,675
12,650

33

33

2

Total deposits...............................................
Demand.........................................................
Time..............................................................

320,745,934
164,354,870
156,391,064

313,303,748
163,248,951
150,054,797

7,442,186
1,105,919
6,336,267

276,229,639
164,049,832
112,179,807

274,646,629
162,952,144
111,694,485

1,482,618
1,021,520
461,098

100,392
76,168
24,224

44,516,295
305,038
44,211,257

38,657,119
296,807
38,360,312

5,859,176
8,231
5,850,945

Miscellaneous liabilities— total.......................
Rediscounts and other borrowed m oney..........
All other miscellaneous liabilities......................

12,968,853
3,707,702
9,261,151

12,612,070
3,614,177
8,997,893

356,783
93,525
263,258

12,068,292
3,670,005
8,398,287

11,821,823
3,576,530
8,245,293

223,387
91,447
131,940

23,032
2,028
21,054

900,561
37,697
862,864

790,247
37,647
752,600

110,314
50
110,264

Total liabilities (excluding capital
accounts)....................................................

333,714,787

325,915,818

7,798,969

288,297,931

286,468,452

1,706,005

123,474

45,416,856

39,447,366

5,969,490

Capital accounts— total.....................................
Preferred capital..................................................
Common stock.....................................................
Surplus.................................................................
Undivided profits and reserves..........................

29,962,837
206,986
7,408,909
15,155,048
7,191,894

28,894,013
168,386
7,282,680
14,637,286
6,805,661

1,068,824
38,600
126,229
517,762
386,233

25,758,058
206,453
7,408,909
12,328,252
5,814,444

25,322,396
167,853
7,282,680
12,163,471
5,708,392

289,386
38,400
82,634
96,664
71,688

146,276

3,571,617
533

633,162

43,595
68,117
34,364

4,204,779
533
2,826,796
1,377,450

2,473,815
1,097,269

352,981
280,181

Number of banks 8 ......................................................

14,093

13,621

472

13,583

13,291

243

49

510

330

180

O
F

Foreign government and bank deposits—
total.................................................................
Foreign governments, central banks, etc.—
demand.........................................................
Foreign governments, central banks, etc.—
time...............................................................
Banks in foreign countries—demand................
Banks in foreign countries—time......................

Data are as of December 31, 1963 for some noninsured banks.
Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.
Includes 17 noninsured banks of deposit for which asset and liability data are not available.
Back figures, 1934-1962: See the preceding table and the Annual Report for 1962, pp. 122-123, and earlier reports.
1

2
3




BANKS

200

T a b le 107.

A ssets a n d L ia b il it ie s of A ll B a n k s in th e U n it e d S ta t e s (S t a t e s a n d O th e r A r e a s ), D e c e m b e r 20, 1963 1
B ANKS GROUPED BY DISTRICT AND STATE

(Amounts in thousands of dollars)
Liabilities and capital accounts

Assets

Deposits
FDIC District
and State

Num­
ber of
banks 2

Cash and
due from
banks

U.S. Gov­
ernment
obligations

Miscel­
laneous
assets

Total

Other
securities

Loans, dis­
counts, and
overdrafts

Govern­
ment 4

Foreign
g ov ’t,
and
inter­
bank 6

Miscel­
laneous
liabilities

Total
capital
accounts

69,223,331

40,579,424

193,442,024

8,755,763

363,677,624

273,601,434

27,374,205

19,770,295

12,968,853

29,962,837

51,534,115

69,063,093

40,496,163

192,669,833

8,606,347

362,369,551

272,714,843

27,171,247

19,727,821

12,875,930

29,879,710

O ther areas..................

15

142,967

160,238

83,261

772,191

149,416

1,308,073

886,591

202,958

42,474

92,923

83,127

FDIC D istrict
District 1 ....................
District 2 0 ..................
District 3 ....................
District 4 ....................
District 5 ....................
District 6 ....................
District 7 ....................
District 8 ....................
District 9 ....................
District 10..................
District 11..................
District 1 2 7 ................

737
778
1,182
894
1,245
1,520
1,388
1,683
1,165
1,713
1,372
416

2,260,444
13,047,711
4,842,330
2,793,834
2,780,066
3,303,414
3,494,970
4,016,307
1,286,279
2,276,422
4,670,578
6,904,727

4,965,621
14,208,988
7,567,448
3,959,982
3,693,901
4,008,065
6,486,477
6,686,717
2,270,754
2,929,278
4,697,519
7,748,581

2,687,127
12,288,579
5,204,533
1,808,055
1,652,164
1,854,280
2,579,531
3,674,069
1,014,432
1,157,409
2,266,791
4,392,454

17,112,587
61,809,287
18,702,979
8,978,305
7,027,886
8,273,123
11,526,845
13,054,212
4,429,198
5,817,729
11,219,980
25,489,893

461,460
3,330,697
620,887
408,564
373,508
265,452
413,141
427,605
180,508
213,867
639,836
1,420,238

27,487,239
104,685,262
36,938,177
17,948,740
15,527,525
17,704,334
24,500,964
27,858,910
9,181,171
12,394,705
23,494,704
45,955,893

22,389,958
77,019,513
28,663,795
13,621,586
11,270,253
12,851,657
19,083,532
20,893,859
6,944,893
9,011,647
16,609,566
35,241,175

1,168,073
5,275,068
2,624,295
1,563,073
1,748,410
1,511,507
2,302,335
2,142,819
875,376
1,373,682
2,503,195
4,286,372

601,532
7,962,003
1,192,204
733,083
855,343
1,538,992
693,908
1,786,932
460,127
681,960
1,840,527
1,423,684

791,795
5,730,856
1,190,741
503,729
341,088
297,488
574,134
728,745
156,589
206,617
636,006
1,811,065

2,535,881
8,697,822
3,267,142
1,527,269
1,312,431
1,504,690
1,847,055
2,306,555
744,186
1,120,799
1,905,410
3,193,597

State
Alabama......................
Alaska.........................
Arizona........................
Arkansas.....................
California....................

242
13
13
242
155

484,039
35,780
252,414
362,519
5,348,877

654,894
70,573
274,829
373,398
5,622,263

356,763
19,078
142,670
259,813
3,366,717

1,309,035
147,189
1,206,270
851,138
19,431,388

49,593
9,516
71,739
28,980
1,095,587

2,854,324
282,136
1,947,922
1,875,848
34,864,832

2,156,544
185,201
1,489,445
1,446,495
26,752,023

297,091
72,138
226,821
157,857
3,022,761

102,957
2,217
24,502
98,832
1,205,831

45,289
3,547
72,139
16,733
1,545,253

252,443
19,033
135,015
155,931
2,338,964

227
135

503,732
530,528
157,955
382,980
1,138,284

589,206
882,827
224,041
550,738
1,898,925

191,748
1,003,365
146,509
96,542
668,389

1,480,519
4,287,880
578,880
1,064,359
2,826,205

67,752
103,234
22,537
38,998
198,566

2,832,957
6,807,834
1,129,922
2,133,617
6,730,369

2,150,444
5,679,866
904,336
1,746,510
4,876,844

245,601
292,169
70,646
46,934
792,762

136,617
56,927
10,728
139,515
360,892

65,647
186,585
28,260
44,616
145,526

234,648
592,287
115,952
156,042
554,345

812,051
91,647
113,792
3,408,393
950,108

770,111
178,855
174,688
5,650,400
1,834,997

341,343
81,375
75,671
3,272,788
484,446

2,064,808
535,452
448,830
11,051,192
2,712,781

4,076,433
925,105
831,385
23,759,417
6,083,170

2,880,441
632,572
663,197
17,707,063
4,608,428

448,906
155,494
86,986
1,840,684
650,656

279,056

37,776
18,404
376,644
100,838

4,665
1,615,902
164,493

114,524
28,373
15,364
670,537
151,020

353,506
88,646
61,173
1,925,231
508,573

607,914
501,985
602,022
762,465
113,062

1,036,317
868,306
831,629
979,033
286,200

401,281
412,430
257,456
399,429
173,667

2,003,020
1,394,999
1,417,459
1,628,649
834,871

50,961
37,440
43,214
65,361
26,608

4,099,493
3,215,160
3,151,780
3,834,937
1,434,408

3,186,796
2,235,704
2,333,968
2,633,362
1,194,989

302,135
526,091
282,526
526,852
56,332

171,030
120,123
217,515
299,263
12,522

58,208
33,935
33,350
58,347
28,995

381,324
299,307
284,421
317,113
141,570

Colorado.....................
Connecticut................
Delaware.....................
District of Columbia..
Florida........................

14
385

Georgia........................

424

Illinois.........................
Indiana........................

27
1,009
441

Iow a............................

674

22

12

Digitized for Kansas........................
FRASER
593
Kentucky....................
348
http://fraser.stlouisfed.org/
Louisiana....................
199
M aine..........................
Federal Reserve Bank of St. Louis 78

8 8 ,1 2 0

2 0 ,0 2 0

CORPORATION

51,677,082

14,078

INSURANCE

14,093

50 States and D. C .. . .

DEPOSIT

T otal U nited States.. .

FEDERAL

Business
and
personal *

124
342
367
708
194

512,885
1,339,716
1,661,107
885,970
345,692

937,122
3,215,091
3,013,138
1,383,312
369,971

440,905
1,043,769
1,537,532
644,846
285,669

2,085,791
9,343,258
5,965,917
3,015,126
827,838

115,670
270,529
211,510
123,715
37.229

4,092,373
15,212,363
12,389,204
6,052,969
1,866,399

3,241,573
12,164,350
9,610,169
4,565,479
1,356,424

321,666
636,686
1,274,240
492,398
209,651

92,510
502,898
304,458
394,725
112,438

94,495
461,225
325,271
107,498
35,749

342,129
1.447.204
875,066
492,869
152,137

Missouri..............
M ontana............
Nebraska............
Nevada................
New Hampshire.

636
125
429
7
109

1,446,792
158,267
436,536
78,726
87,031

1,898,596
279,247
498,025
139,092
239,591

860,357
114,392
184,685
70,137
109,748

3,698,999
508,937
1,113,931
369,122
931,587

114,205
21,145
32,437
23,818
22,433

8,018,949
1,081,988
2,265,614
680,895
1,390,390

5,745,156
830,656
1,638,331
517,112
1,143,716

645,346
116,846
194,999
95,083
61,302

782,033
33,367
179,123
4,304
11,948

152,163
22,738
46,446
17,600
35,662

694,251
78,381
206,715
46,796
137,762

New Jersey.......
New M exico... .
New York 8 .......
North Carolina.
North Dakota. .

256
61
486
156
159

1,148,341
158,110
11,619,980
732.754
105,918

2,192,393
252,321
11,633,286
662,949
308,760

1,768,672
66,573
10,290,137
495,411
170,662

6,120,156
482,982
54,359,474
2,068,105
420,265

196,601
19,616
3,004,105
105,520
18,869

11,426,163
979,602
90,906,982
4.064.739
1,024,474

9,403,855
690,903
65,866,143
2,823,302
764,016

790,433
181,350
4,253,009
463,491
140,616

88,099
20,685
7,821,088
262,361
16,223

286,634
15,036
5,324,304
185,234
12,552

857,142
71,628
7,642,438
330,351
91,067

Ohio...............
Oklahoma. . . .
Oregon...........
Pennsylvania.
Rhode Island.

554
401
52
628
18

2,146,456
730,256
427,324
2,695,874
141,428

3,419,778
820,292
534,156
4,147,670
219,309

1,520,657
331,249
280,810
3,683,876
304,235

7,396,651
1,575,087
1,472,081
11,306,328
1,239,004

239,202
64,566
76,451
381,685
27,645

14,722,744
3,521,450
2,790,822
22,215,433
1,931,621

11,356,318
2,570,226
2,157,091
17,307,477
1,610,442

1,260,802
334,383
337,228
1,363,493
86,921

397,633
230,282
37,942
794,571
15,263

475,053
53,518
54,812
715,688
63,732

1,232,938
333,041
203,749
2.034.204
155,263

ASSETS

138
173
294
1,099
52

253,550
136,124
892,081
3,497,589
213,335

318,883
299,435
904,442
3,191,336

625,626
484,870
2,305,527
7,902,079
768,501

28,863
16,779
79,053
483,120
22,036

1,392,224
1.021.740
4,657,757
16,732,243
1,322,130

1,004,353
784,742
3.326.038
11,795,856
950,599

182,760
125,516
425,778
1,568,172
181,947

35,198
15,812
440,612
1,496,077
43,676

41,826
13,801
95,242
490,484
46,783

128.087
81,809
370.087
1,381,654
99,125

AN
D

210,886

165,302
84,532
476,654
1,658,119
107,372

55
280
97
182
580
63

48,679
663,876
573,714
247,789
883.755
103,913

122,603
927,985
817,098
562,305
1,638,342
153,449

52,343
467,702
391,294
142,193
557,553
37,297

475,987
2,418,883
2,295,916
715,541
2,848,147
253,193

11,011
88.230
94,688
31,283
100,793
11,672

710,623
4,566,676
4,172,710
1,699,111
6,028,590
559,524

596,595
3,509,809
3,341,968
1.296.039
4,864,935
416,942

34,663
390,471
292,757
157,751
377,439
72,608

1,974
166,141
104,643
37,358
224,957
15,815

15,596
107,981
98,068
29,577
97,843
7,071

61,795
392.274
335.274
178,386
463,416
47,088

19,809
1,723
117,280
4,155

81,955
1,306

20,237
1,177
716,807
33j970

22,372
19,590
94,779
12,675

63,388
22,490
1,165,335
56,860

29,196
12,216
808,034
37,145

31,887
10,091
145,040
15,940

222

154,514
4,754

164
41,863
225

1,246
19
90,076
1,582

80,322
1,968

South Carolina.
South Dakota. .
Tennessee..........
Texas.................
Utah..................
Vermont........
Virginia.........
Washington. . .
West Virginia.
Wisconsin
Wyoming

837

BANKS

970

O
F

Other area
Pacific Islands 9. . .
Panama Canal Zone 10.
Puerto Rico 11.......
Virgin Islands 12...

LIABILITIES

M aryland........
Massachusetts.
Michigan.........
Minnesota.......
Mississippi. . . .

1 Data are as of December 31, 1963 for some noninsured banks.
2 Includes 17 noninsured banks of deposit (2 in Iowa, 12 in New York, 2 in Texas, and 1 in the Virgin Islands) for which data are not available,
s Demand and time deposits of individuals, partnerships, and corporations, certified and officers’ checks, letters of credit, etc.
4 Deposits of the United States Government and of States and subdivisions.
6 Includes postal savings deposits.
6 Includes Puerto Rico and the Virgin Islands.
7 Includes Alaska, Hawaii, Pacific Islands, and the Panama Canal Zone.
8 Includes asset and liability data for 4 insured branches operated by 2 insured banks in Puerto Rico.
3 TM TTM
J C
S
w
< v>rs / A
-v
a m— O —
_~ — / 'I _____ ^ i4 * _
T
T 1
1
1 TTT 1
T 1
“'
---

branches ( 1 on Midway Islands, 1 on Koror Island— Palau Islands, 2 in Marshall Islands— Kwajalein Atoll, 1 on Ponape Island (Kolonia) and
sured bank m Hawaii.
10 Consists of asset and liability data for 2 noninsured branches operated by 2 insured banks in New York.
11 Includes asset and liability data for 15 insured branches operated by 2 insured banks in New York.
12 Includes asset and liability data for 4 insured branches operated by an insured bank in New York.
Note: Data for the above branches are not included in the figures for the States in which the parent banks are located.
Back figures, 1945-1962: See the Annual Report for 1962, pp. 124-125, and earlier reports.




1

on Wake Island) operated bv £
1 v
y

CO

Table 108,

A

ssets an d

L ia b il it ie s

of

A

ll

C a ll D a tes June

I nsured B

30, 1961

a n k s in t h e

U n i t e d S t a t e s (S t a t e s

T h rou gh D ecem ber

and

O t h e r A r e a s ),

20, 1963 1

(Amounts in thousands of dollars)
Sept. 28,
1962

Dec. 28,
1962

March 18,
1963

June 29,
1963

Dec. 20,
1963

314,438,740

304,433,611

313,495,544

318,378,614

335,934,112

331,694,157

340,388,582

354,809,831

46,152,653
3,004,061

57,099,666
3,819,191

45,812,297
3,862,559

49,281,330
3,295,166

48,928,314
3,532,141

54,582,416
4,332,304

49,810,674
4,035,005

51,665,841
3,596,056

51,166,975
4,157,140

16,488,024

16,918,416

16,518,889

16,839,174

16,999,260

17,679,794

16,097,914

16,529,350

17,149,613

11,332,602
250,433
144,889
14,932,644

14,306,711
248,350
249,421
21,467,577

11,434,812
316,581
186,154
13,493,302

11,850,224
312,949
178,081
16,805,736

12,112,891
337,259
157,937
15,788,826

13,021,881
416,948
237,431
18,844,058

12,345,456
530,648
204,979
16,596,672

12,321,213
575,162
245,254
18,398,806

12,086,463
508,860
298,992
16,965,907

66,091,244

70,780,767

68,966,698

68,688,732

68,615,600

70,605,519

69,045,361

67,667,433

67,135,755

11,791,016
3,996,330
5,322,085
19,150,662
449,760
2,285,148
11,648,541
13,598,734
2,123,031
240,212

10,791,471
3,269,818
3,708,449
20,710,869
437,127
1,770,440
9,618,424:
15,989,530
2,547,212

9,308,207
3,255,341
4.627.951
19,844,588
421,017
1,508,840
10,068,307
15,957,065
2.469.952
206,165

11,208,197
1,670,638
6,138,257
16,757,376
393,648
1,155,685
13,468,861
13,667,498
2,433,898
241,697

7,453,153
3,369,968
5,467,315
15,728,303
756,811
6,632,888
13,542,866
9,724,474
3,218,798
196,663

11,515,532
2,142,610
8,418,081
18,630,152
601,522
2,465,962
16,098,292
7,143,149
3,550,078
215,389

9,591,437
3,793,210
9,078,841
16,558,346
578,039
2,333,958
13,993,050
9,192,451
3,621,410
225,956

8,440,540
3,657,486
11,467,088
15,362,125
569,852
1,058,937
14,401,180
10,072,252
3,424,328
234,944

8,608,772
3,556,834
6,085,819
18,618,009
549,524
4,313,282
10,905,001
13,357,952
2,378,338
242,069

26,950,629
19,125,026

28,728,617
20,732,516

30,092,755
22,076,299

31,778,264
23,458,724

33,053,087
24,379,978

34,126,296
25,076,053

35,111,975
26,342,142

37,145,497
28,037,856

39,700,867
30,022,176

2,255,285
4,331,164
426,270
812,884

2,617,755
4,079,476
444,213
854,657

2,632,708
4,044,986
453,847
884,915

2,910,983
4,013,148
457,069
938,340

3,177,540
4,042,254
460,093
993,222

3,486,442
4,064,339
465,705
1,033,757

3,261,221
3,950,901
476,424
1,081,287

3,597,544
3,909,101
481,062
1,119,934

4,215,668
3,787,856
491,175
1,183,992

93,041,873

99,509,384

99,059,453

100,466,996

101,668,687

104,731,815

104,157,336

104,812,930

106,836,622

2 0 2 ,0 2 1

CORPORATION




June 30,
1962

INSURANCE

Obligations of States and subdivisions................
Securities of Federal agencies and corporations
(not guaranteed by U. S .).............................
Other bonds, notes, and debentures....................
Federal Reserve bank stock..................................
Other corporate stocks...........................................

March 26,
1962

DEPOSIT

Obligations of the U. S. Government, direct
and guaranteed— total..................................
Direct:
Treasury bills......................................................
Treasury certificates of indebtedness..............
Treasury notes maturing in 1 year or less. . . .
Treasury notes maturing after 1 year.............
United States non-marketable bonds..............
Other bonds maturing in 1 year or less...........
Other bonds maturing in 1 to 5 years.............
Other bonds maturing in 5 to 10 years...........
Other bonds maturing after 10 years..............
Guaranteed obligations.........................................

Dec. 30,
1961

FEDERAL

Cash, balances with other banks, and cash
collection items—
-tota l..................................
Currency and coin..................................................
Reserve with Federal Reserve banks (member
banks)..............................................................
Demand balances with banks in the United
States (except private banks and American
branches of foreign banks). . •%
....................
Other balances with banks in the United States. .
Balances with banks in foreign countries............
Cash items in process of collection......................

June 30,
1961
288,705,613

Assets

152,285,468
2,867,500
155,152,968
56.905.617
1,844,735

156,309,473
2,878,319
159,187,792
59,043,989
1,955,870

160,272,693
2,894,330
163,167,023
61,000,833
2,007,158

168,801,321
2,909,688
171,711,009
62,750,776
2,048,943

169,967,677
3,201,974
173,169,651
64,249,039
2,138,252

175,498,110
3,226,382
178,724,492
67,032,568

188,232,982
3,213,551
191,446,533
70,980,241
2,350,099

13,532,526
10,991,547
19,858,521
9,810,713
1,039,297
7,313,493
4,046,266
2,113,021

13,826,187
11,015,812
20,036,127
10,182,756
2,572,377
6,470,888
3,733,824
2,065,394

14,328,907
11,151,068
20,862,495
10,745,649
1,476,902
7,232,209
3,242,678
1,988,629

14,806,580
11,291,758
21,741,635
11,153,702
2,034,390
7,454,528
3,535,180
1,938,481

15,176,739
11,472,042
22,471,202
11,581,850
2,560,370
8,473,355
5,177,925
2,114,934

15,669,348
11,666,132
22,872,819
11,902,488
3,123,104
8,057,131
4,498,379
2,119,515

16,255,516
12,054,896
23,930,946
12,524,974
1,915,015
8,646,348
4,629,754
2,211,103

17,016,748
12,317,825
25,767,552
13,528,017
3,610,250
9,448,495
5,349,920
2,488,339

1,149,337

870,226

346,992

1,111,661

1,331,139

799,576

816,838

5,388,320

5,906,652

5,992,903

5,963,558

6,100,940

6,733,102

6,647,074

45,268,944

45,097,443

46,062,053

46,974,669

48,860,921

48,932,320

50,022,702

53,144,882

28,055,161
9,066,851
2,808,077

28.129.618
9,205,951
2,705,299

29,653,900
9,908,821
2,756,744

30,059,242
10,154,354
2,766,847

30,790,186
10,534,920
2,858,885

30,973,196
10,762,114
2,904,088

32,921,628
11,693,717
3,008,854

34,919,957
12,451,250
3,201,535

2,755,169
4,522,983
8,902,081
3,412,918

2,677,390
4,552,877
8,988,101
3,640,150

2,737,832
4,828,838
9,421,665
3,710,554

2,809,663
4,980,995
9,347,383
3,829,805

2,825,491
5,092,511
9,478,379
3,907,323

2,759,091
5,139,657
9,408,246
3,784,888

2,853,029
5,475,283
9,890,745
3,812,696

2,976,040
5,807,404
10,483,728
4,040,537

251,344,921

256,776,469

261,941,380

273,533,136

274,125,013

280,311,040

295,069,604

3,662,950
2,495,042
732,940
103,130

3,811,021
2,607,260
741,278
113,989

3,906,752
2,660,347
765,434
120,717

3,975,558
2,714,370
778,152
123,522

4,073,998
2,781,378
797,261
127,301

4,172,496
2,852,967
819,099
126,659

4,246,697
2,919,712
819,630
128,901

4,428,257
3,122,721
838,200
128,093

4,707,697
3,343,007
892,555
112,159

331,838

348,494

360,254

359,514

368,058

373,771

378,454

339,243

359,976

M iscellaneous assets— t o ta l.................................
Customers’ liability on acceptances outstanding,
Other assets............................................................

3,223,908
1,432,973
1,790,935

3,489,209
1,651,595
1,837,614

3,369,641
1,581,108
1,788,533

3,462,187
1,456,612
2,005,575

3,434,922
1,395,414
2,039,508

3,646,064
1,618,937
2,027,127

3,511,773
1,575,109
1,936,664

3,983,444
1,549,880
2,433,564

3,865,555
1,591,458
2,274,097

BANKS

250,128,844

O
F

235,666,102

Bank prem ises, fu rn itu re and fixtures, and
other real estate— t o ta l.................................
Bank premises........................................................
Furniture and fixtures...........................................
Real estate owned other than bank premises.. . .
Investments and other assets indirectly repre­
senting bank premises or other real estate..

LIABILITIES

927,685
5,298,734

AND

T otal loans and secu rities...........................

150,619,460
2,826,177
153,445,637
55,970,118
1,776,811

ASSETS

Loans and discou nts, net— t o ta l....................... 142,624,229
Valuation reserves.....................................................
2,629,325
Loans and discou nts, gross— t o t a l.................... 145,253,554
—
Real estate loans— total........................................ 53,929,237
Secured by farm land..........................................
1,744,768
Secured by residential properties:
Insured by F H A .............................................
13,013,088
Insured or guaranteed by V A ......................... 11,037,129
Not insured or guaranteed by FHA or V A .. . 18,796,710
Secured by other properties..................................
9,837,618
Loans to domestic commercial and foreign banks.
1,010,420
Loans to other financial institutions...................
6,002,658
Loans to brokers and dealers in securities..........
2,918,638
Other loans for purchasing or carrying securities .
1,977,880
Loans to farmers directly guaranteed by the
Commodity Credit Corporation...................
573,996
Other loans to farmers (excluding loans on real
estate)..............................................................
5,442,825
Commercial and industrial loans (incl. open
market paper). ...............................................
42,835,956
Other loans to individuals for personal expendi­
tures— total..................................................... 27,462,028
Passenger automobile instalment loans..............
8,940,215
Other retail consumer instalment loans..............
3,145,057
Residential repair and modernization instal­
ment loans........................................................
2,718,542
Other instalment loans for personal expenditures.
4,424,521
Single-payment loans for personal expenditures..
8,233,693
All other loans (including overdrafts).................
3,099,916

PERCENTAGES
To total assets:
Cash and balances with other banks...................
U. S. Government obligations, direct and guar­
anteed ..............................................................
Other securities......................................................
Loans and discounts..............................................
Other assets............................................................
Total capital accounts...........................................
T o total assets other than cash and U. S.
G overnm ent obligations:
Total capital accounts...........................................




16.0%

18.1%

15.0%

15.7%

15.4%

16.2%

15.0%

15.2%

14.4%

22.9
9.3
49.4
2.4
8.5

22.5
9.2
47.9
2.3

21.9

20.8

19.9
10.9
51.5
2.5
8.1

18.9

49.9
2.4
8.3

21.5
10.4
50.3
2.4
8.4

21.0
10.2

8.1

22.7
9.9
50.0
2.4
8.5

13.9

13.6

13.6

13.4

13.3

12.9

10.1

10.6

50.3
2.3

51.3
2.3

8.1

8.2

11.2

53.1
2.4
8.2

CO
-1

12.5

12.2

Table 108.

A

ssets an d

L ia b il it ie s

of

C a ll D a tes June

A

ll

I nsured B

30, 1961

a n k s in t h e

U

T h rou gh D ecem ber

n it e d

S t a t e s (S t a t e s

and

O t h e r A r e a s ),

20, 1963 1 Continued
—

(Amounts in thousands of dollars)

T otal liabilities and capital a c c o u n ts ..................

288,705,613

314,438,740

Business and personal deposits— t o ta l............. 216,779,674
Individuals, partnerships, and corporations—
demand............................................................ 108,738,879
Individuals, partnerships, and corporations—
time.................................................................. 104,296,059
Savings deposits...................................................
93,379,582
Deposits accumulated for payment of personal
loans.................................................................
773,852
Other deposits of individuals, partnerships, and
corporations.....................................................
10,142,625
Certified and officers’ checks, letters of credit,
and travelers’ checks, etc...............................
3,744,736

236,462,979
123,730,675

110,659,408

111,730,739

107,682,172
96,996,529

113,257,605
99,018,991

117,596,062
101,648,557

March 26,
1962

June 30,
1962

Sept. 28,
1962

304,433,611

313,495,544

227,459,296

233,748,980

Dec. 28,
1962

March 18,
1963

318,378,614

335,934,112

331,694,157

340,388,582

354,809,831

238,304,561

252,498,086

249,590,563

253,187,093

266,669,373

113,639,813

123,554,500

116,778,443

116,024,030

123,842,677

120,899,358
104,168,161

124,486,860
106,841,377

128,502,487
109,127,381

132,715,299
111,621,506

138,370,425
114,738,550

June 29,
1963

Dec. 20,
1963

772,150

779,883

765,933

773,602

784,531

796,502

790,380

837,081

9,913,493

13,458,731

15,181,572

15,957,595

16,860,952

18,578,604

20,303,413

22,794,794

3,542,283

4,422,179

3,765,390

4,456,726

4,309,633

4,447,764

4,456,271

23,742,796
6,367,691
283,411
11,838,523
5,253,171

24,386,338
6,781,784
280,485
11,266,037
6,058,032

27,970,218
9,544,587
295,840
11,794,877
6,334,914

26,635,393
8,592,373
262,935
11,601,140
6,178,945

25,611,034
6,833,754
266,199
12,066,083
6,444,998

24,534,211
5,407,883
264,876
11,721,066
7,140,386

31,127,763
11,026,837
250,834
12,388,673
7,461,419

27,171,277
6,734,239
268,300
12,263,435
7,905,303

12,668,987
11,849,410
173,437
605,544
23,004
17,592

16,681,398
15,751,964
197,186
700,355
15,113
16,780

12,891,561
12,010,665
211,373
623,262
29,320
16,941

13,341,497
12,392,738
218,066
669,337
42,901
18,455

13,775,675
12,877,487
226,186
612,295
41,114
18,593

14,889,921
13,907,406
241,908
684,285
38,153
18,169

14,347,062
13,381,700
250,608
645,117
50,195
16,442

13,980,532
12,924,632
281,667
710,091
46,888
17,254

14,270,000
13,323,112
269,914
610,294
49,252
17,428

3,604,283

4,255,164

4,066,994

4,138,626

3,904,827

4,548,654

4,551,202

4,854,482

5,193,098

652,063

656,922

651,012

660,437

564,729

724,335

604,512

626,447

841,612

1,811,070
1,031,500
109,650

2,178,055
1,297,787
122,400

2,161,913
1,128,628
125,441

2,162,539
1,182,770
132,880

2,117,991
1,088,759
133,348

2,431,688
1,265,391
127,240

2,680,935
1,139,336
126,419

2,856,924
1,264,201
106,910

3,045,448
1,177,311
128,727

T otal deposits.................................................. 256,795,740
Demand............................................................ 144,828,346
Time................................................................. 111,967,394

281,304,466
165,354,842
115,949,624

268,804,189
146,663,079
122,141,110

279,199,321
152,397,664
126,801,657

282,620,456
152,741,986
129,878,470

297,547,695
163,492,480
134,055,215

293,023,038
153,990,690
139,032,848

303,149,870
159,412,675
143,737,195

313,303,748
163,248,951
150,054,797

D om estic interbank and postal savings de­
posits— total .....................................................
Commercial banks in the U. S.— demand..........
Commercial banks in the U. S.— tim e................
Mutual savings banks in the U. S.— demand.. . .
Mutual savings banks in the U. S.— tim e..........
Postal savings.........................................................
Foreign governm ent and bank deposits—
to ta l....................................................................
Foreign governments, central banks, etc.—
demand............................................................
Foreign governments, central banks, etc.—
time..................................................................
Banks in foreign countries—demand...................
Banks in foreign countries—time.........................




CORPORATION

5,044,132
23,904,925
5,949,325
280,096
12,217,682
5,457,822

Governm ent deposits— t o ta l...............................
United States Government— demand..................
United States Government— time........................
States and subdivisions— demand........................
States and subdivisions—tim e.............................

INSURANCE

Dec. 30,
1961

DEPOSIT

June 30,
1961

FEDERAL

Liabilities and capital

Miscellaneous liabilities— total..........................
Rediscounts and other borrowed money.............
Acceptances outstanding.......................................
Other liabilities.......................................................

7,409,956
441,799
1,461,052
5,507,105

7,820,622
473,448
1,689,406
5,657,768

9,877,549
2,132,926
1,619,176
6,125,447

8,188,211
782,362
1,498,878
5,906,971

9,073,543
1,507,959
1,429,490
6,136,094

11,290,601
3,590,812
1,655,648
6,044,141

11,416,935
2,962,135
1,606,332
6,848,468

9,589,877
1,516,411
1,597,026
6,476,440

12,612,070
3,614,177
1,620,293
7,377,600

Total liabilities (excluding capital ac­
counts) ........................................................... 264,205,696

291,693,999

308,838,296

304,439,973

312,739,747

325,915,818

26,108,012
6,826,298
13,430,586
5,024,430
826,698

26,684,615
6,863,186
13,525,675
5,454,122
841,632

27,095,816
6,937,502
13,822,081
5,488,605
847,628

27,254,184
7,092,356
14,055,192
5,241,563
865,073

27,648,835
7,172,516
14,258,908
5,363,677
853,734

28,894,013
7,451,066
14,637,286
5,941,518
864,143

Pledged assets and securities loaned................

29,973,285

31,782,351

32,591,032

34,659,071

34,216,059

35,844,661

34,534,701

38,492,256

(*)

Capital stock, notes, and debentures:
Par or face value— total....................................
Common stock...................................................
Capital notes and debentures...........................
Preferred stock...................................................

6,464,328
6,426,462
22,616
15,250

6,622,003
6,585,001
22,257
14,745

6,770,009
6,733,055
22,034
14,920

6,826,598
6,789,688
22,090
14,820

6,863,486
6,827,985
20,726
14,775

6,937,802
6,882,362
20,646
34,794

7,092,656
7,036,472
21,282
34,902

7,172,816
7,114,462
21,094
37,260

Retirable value of preferred stock.......................

16,217

15,406

15,583

15,460

15,426

35,435

35,540

37,702

(2
)

13,461

13,445

13,439

13,442

13,440

13,457

13,478

13,527

13,621

Undivided profits...................................................
Reserves..................................................................
MEMORANDA

Number of hanks.........................................................

1963 call not tabulated for all banks.




BANKS

Back figures, 1984-1960: See the Annual Report for 1960, pp. 146-149, and earlier reports.

O
F

1 Data for the September 30,
2 Not available for all banks.

7,451,366
7,282,980
130,547
37,839

LIABILITIES

287,387,532

25,751,873
6,769,709
13,260,466
4,883,106
838,592

AND

278,681,738

25,313,652
6,621,703
13,068,228
4,781,267
842,454

ASSETS

289,125,088

24,499,917
6,464,028
12,423,665
4,806,379
805,845

Capital accounts— total........................................
Capital stock, notes, and debentures..................

CO

C
D

Table 109.

A

ssets a n d

L ia b il it ie s

of

I nsured C

o m m e r c ia l a n d

(S ta te s a n d O t h e r A r e a s ), C a l l D a te s S ep tem b er

I n sured M

28, 1962

utual

S a v in g s B

T h rou gh D ecem ber

a n k s in t h e

U

n it e d

State s

20, 1963 1

(Amounts in thousands of dollars)
Insured commercial banks
Assets

Dec. 28,
1962

March 18,
1963

June 29,
1963

Dec. 20,
1963

T otal assets.............................................................. 279,171,182 295,982,703 290,844,464 298,808,700 311,790,848

June 29,
1963

Dec. 20,
1963

39,207,432

39,951,409

40,819,693

41,579,882

43,018,983

747,332
113,842

783,711
123,167

825,157
103,292

788,693
109,262

721,513
104,083

419,289

458,012

479,770

444,584

441,946

48,180,982
3,418,299

53,798,705
4,259,137

48,985,517
3,931,713

50,877,148
3,486,794

50,445,462
4,053,057

16,999,260

17,679,794

16,097,914

16,529,350

17,149,613

11,693,602

12,563,869

11,865,686

11,876,629

11,644,517

162,912
157,937
15,748,972

256,823
237,431
18,801,651

324,586
204,979
16,560,639

388,686
245,254
18,350,435

367,817
174,347
160,125
206,062
186,476
141,043
298,992
16,931,466 ........39,854 ........42,407’ ........36,033’ ........48,371 ........34,441 ’

65,966,306

64,373,825

63,122,231

62,811,737

4,693,874

4,639,213

4,671,536

4,545,202

4,324,018

11,570,253
3,917,424
5,199,158
18,518,818
303,366
2,253,167
11,332,096
11,967,665
768,599
135,760

10,454,036
3,214,925
3,618,339
20,089,278
289,706
1,748,051
9,332,864
14,368,179
1,166,448
91,999

9,063,613
3,202,828
4,486,173
19,259,933
285,371
1,490,993
9,760,193
14,366,215
1,112,495
94,417

10,999,429
1,651,564
5,921,023
16,402,791
277,927
1,141,495
12,931,738
12,244,036
1,137,045
104,689

211,670
75,731
121,747
717,561
153,530
38,330
284,689
1,558,745
1,430,916
100,955

220,763
78,906
122,927
631,844
146,394
31,981
316,445
1,631,069
1,354,432
104,452

337,435
54,893
90,110
621,591
147,421
22,389
285,560
1,621,351
1,380,764

244,594
52,513
141,778
584,655
135,646
17,847
308,114
1,590,850
1,357,457
111,748

208,768
19,074
217,234
354,585
115,721
14,190
537,123
1,423,462
1,296,853
137,008

CORPORATION

March 18,
1963

INSURANCE

Dec. 28,
1962

O bligations o f the U. S. G overnm ent, direct
and guaranteed— t o ta l............................. 63,921,726
Direct:
Treasury bills.................................................
8,397,102
Treasury certificates of indebtedness..........
3,481,103
Treasury notes maturing in 1 year or less.. 5,964,072
Treasury notes maturing after 1 year........ 17,900,448
United States non-marketable bonds..........
395,994
Other bonds maturing in 1 year or less. . . .
4,274,952
Other bonds maturing in 1 to 5 years........ 10,620,312
Other bonds maturing in 5 to 10 years. . . . 11,799,207
Other bonds maturing after 10 years..........
947,422
Guaranteed obligations.....................................
141,114

1 1 0 ,0 2 2

O ther securities— to ta l.....................................
Obligations of States and subdivisions...........
Securities of Federal agencies and corpora­
tions (not guaranteed by U. S .)..................
Other bonds, notes, and debentures................
Federal Reserve bank stock.............................
Other corporate stocks.....................................

27,876,832
23,856,369

28,946,174
24,582,904

29,994,880
25,893,349

32,095,360
27,610,889

34,660,292
29,611,314

5,176,255
523,609

5,180,122
493,149

5,117,095
448,793

5,050,137
426,967

5,040,575
410,862

2,565,532
769,009
460,093
225,829

2,870,165
804,088
465,705
223,312

2,644,590
739,292
476,424
241,225

2,973,360
780,871
481,062
249,178

3,503,243
784,083
491,175
270,477

612,008
3,273,245

616,277
3,260,251

616,631
3,211,609

624,184
3,128,230

712,425
3,003,773

767,393'

’810,445’

840,062’

870,756’

913,515

T otal securities.......................................

91,798,558

94,912,480

94,368,705

95,217,591

97,472,029

9,870,129

9,819,335

9,788,631

9,595,339

9,364,593




DEPOSIT

Cash, balances with other banks, and cash
collection item s— t o ta l.............................
Currency and coin.............................................
Reserve with Federal Reserve banks (mem­
ber banks)......................................................
Demand balances with banks in the United
States (except private banks and American
branches of foreign banks)...........................
Other balances with banks in the United
States..............................................................
Balances with banks in foreign countries.......
Cash items in process of collection.................

Sept. 28,
1962

FEDERAL

Sept. 28,
1962

Insured mutual savings banks

132,300,275 140,023,316 140,337,778 144,965,172 155,933,367
2,677,678
2,694,275
2,982,407
3,010,546
2,994,811
134,977,953 142,717,591 143,320,185 147,975,718 158,928,178
33,282,862 34,309,294 34,981,168 36,768,959 39,088,205
1,960,670
2,002,871
2,092,618
2,221,058
2,303,251
6,360,533
2,596,243
13,768,431
8,596,985
2,022,596
7,449,689
3,522,556
1,927,119

6,494,946
2,635,240
14,237,357
8,938,880
2,552,321
8,468,121
5,120,629
2,103,614

6,591,840
2 , 624,624

14,472,015
9,200,071
3,099,468
8,052,415
4,458,736
2,105,195

15,199,048
9,715,261
1,903,897
8,641,977
4,614,755
2,204,117

7,047,238
2,817,152
16,380,889
10,539,675
3,594,633
9,441,479
5,325,642
2,476,760

27,972,418
216,652
28,189,070
27,717,971

28,778,005
215,413
28,993,418
28,441,482
46,072

29,629,899
219,567
29,849,466
29,267,871
45,634

8,446,047
8,695,515
7,973,204
2,556,717
11,794
4,839
12,624
11,362

8,681,793
8,836,802
8,233,845
2,642,970
8,049
5,234
57,296
11,320

9.077.508
9.041.508
8,400,804
2,702,417
23,636
4,716
39,643
14,320

30,532,938 32,299,615
215,836
218,740
30,748,774 32,518,355
30,263,609 ^
•31,892,036'■
45,178
46,848
9,425,247
9,251,573
8,731,898
2,809,713
11,118
4,371
14,999
6,986

9,969,510
9,500,673
9,386,663
2,988,342
15,617
7,016
24,278
11,579

1,111,661

1,331,139

799,576

816,838

5,961,308

6,098,761

6,730,646

6,644,575

2,234

2,250

2,179

2,456

2,499

46,799,339

48,668,367

48,726,340

49,868,910

52,984,200

175,330

192,554

205,980

153,792

160,682

29,816,025
2,765,693

30.524,024
10,529,184
2,857,682

30,692,707
10,756,088

32,639,569
11,684,539
3,007,965

34,531,746
12,437,272

243,217
5,473
1,154

266,162
5,736
1,203

280,489
6,026
1,794

282,059
9,178

388,211
13,978
923

AND

2,746,849
4,926,008
9,228,594
3,820,106

2,762,423
5,034,282
9,340,453
3,898,252

2,698,257
5,078,254
9,257,814
3,774,256

2,790,309
5,405,567
9,751,189
3,803,312

2,909,590
5,718,920
10,265,352
4,024,100

62,814
54,987
118,789
9,699

63,068
58,229
137,926
9,071

60,834
61,403
150,432
10,632

62,720
69,716
139,556
9,384

66,450
88,484
218,376
16,437

38,597,340

39,418,530

LIABILITIES

280,951
237,641
25,058
18,252

288,287
243,406
25,206
19,675

294,288
247,319
26,532
20,437

336.602

282.071

311.718

361,518

320,365

336.602

282.071

311.718

361,518

320,305

1 0 , 148,881

T otal loans and securities................... 224,098,833 234,935,796 234,706,483 240,182,763 253,405,396
3,793,047
2,543,737
772,203
109,049
368,058

373,771

378,454

339,243

359,976

M iscellaneous assets— t o ta l................................
Customers’ liability on acceptances outstanding.
Other assets...........................................................

3,098,320
1,395,414
1,702,906

3,363,993
1,618,937
1,745,056

3,200,055
1,575,109
1,624,946

3,621,926
1,549,880
2,072,046

3,545,190
1,591,458
1,953,732

41,664,208

3,884,209
2,609,561
793,893
106,984

3,952,409
2,672,393
793,098
108,464

4,126,863
2,871,426
810,642
105,552

4,394,800
3,082,103
863,387
89,334

301,394
251,295
27,558
22,541

312,897
260,904
29,168
22,825

PERCENTAGES
T o total assets:
Cash and balances with other banks..................
U. S. Government obligations, direct and guar­
anteed .................................................................
Other securities.....................................................
Loans and discounts.............................................
Other assets...........................................................
Total capital accounts..........................................
T o total assets other than cash and U. S.
G overnm ent obligations:
Total capital accounts..........................................




17.2%

18.2%

16.8%

17.0%

16.2%

22.9

22.1

47.4
2.5
8.4

22.3
9.8
47.3
2.4
8.0

10.3
48.3
2.5
8.2

21.1
10.8

20.1
11.1

48.5

14.0

13.5

13.5

10.0

1.9%

2 .0

1.9%

73.4
1.6
8.2

9.7

9.7

9.4

8.1

2.6
8.1

1.6

13.1

12.8

8.5

2 .0%

13.0
72.0
1.4
8.4

50.0

13.2
71.3

11.6

2.6

%

11.5
12.5
72.5
1.5
8.4

12.0

10.9
12.2

1.7%
10.0

11.7
75.1
1.5
8.3

BANKS

Bank prem ises, fu rn itu re and fixtures,
and other real estate— t o t a l ......................
Bank premises.......................................................
Furniture and fixtures..........................................
Real estate owned other than bank premises. . .
Investments and other assets indirectly repre­
senting bank premises or other real estate. . .

O
F

346,992
5,990,669

ASSETS

Loans and discou nts, net— to ta l.......................
Valuation reserves.....................................................
Loans and d iscou nts, gross— t o ta l....................
Real estate loans— total.......................................
Secured by farm land.........................................
Secured by residential properties:
Insured by F H A .............................................
Insured or guaranteed by V A ........................
Not insured or guaranteed by FHA or VA . .
Secured by other properties................................
Loans to domestic commercial and foreign banks
Loans to other financial institutions...................
Loans to brokers and dealers in securities.........
Other loans for purchasing or carrying securities.
Loans to farmers directly guaranteed by the
Commodity Credit Corporation......................
Other loans to farmers (excluding loans on real
estate) .................................................................
Commercial and industrial loans (incl. open
market paper)....................................................
Other loans to individuals for personal expen­
ditures— total.................................................
Passenger automobile instalment loans.............
Other retail consumer instalment loans.............
Residential repair and modernization instal­
ment loans.......................................................
Other instalment loans for personal expenditures
Single-payment loans for personal expenditures.
All other loans (including overdrafts)................

Table 109.

A s s e t s a n d L i a b i l i t i e s o f I n s u r e d C o m m e r c ia l a n d I n s u r e d M u t u a l S a v in g s B a n k s in t h e U n i t e d S t a t e s

( S t a t e s a n d O t h e r A r e a s ) , C a l l D a t e s S e p t e m b e r 28, 1962 T h r o u g h D e c e m b e r 20, 1963 1 Continued
—

^

to

(Amounts in thousands of dollars)
Insured commercial banks
Liabilities and capital

Sept. 28,
1962

Dec. 28,
1962

March 18,
1963

Insured mutual savings banks
Sept. 28,
1962

Dec. 28,
1962

March 18,
1963

Total liabilities and capital accounts.............. 279,171,182 295,982,703 290,844,464 298,808,700 311,790,848

39,207,432

39,951,409

Business and personal deposits— total........ 202,993,769 216,424,179 212,852,154 215,632,887 228,042,312
Individuals, partnerships, and corporations—
demand....................................................... 113,358,553 123,296,625 116,489,543 115,731,286 123,561,302
Individuals, partnerships, and corporations—
tim e............................................................. 85,876,606 88,678,022 92,060,885 95,462,429 100,033,046
Savings deposits.............................................. 69,171,619 71,043,588 72,701,899 74,390,626 76,418,701
Deposits accumulated for payment of per­
783,826
sonal loans...................................................
778,021
795,772
836,450
789,648
Other deposits of individuals, partnerships,
and corporations......................................... 15,931,966 16,850,608 18,563,214 20,282,155 22,782,895
Certified and officers’ checks, letters of credit,
4,449,532
4,301,726
and travelers’ checks, etc..........................
3,758,610
4,447,964
4,439,172

35,310,792

36,073,907

281,260
35,022,752
34,996,542

June 29,
1963

Dec. 20,
1963

Dec. 20,
19G3

41,579,882

43,018,983

36,738,409

37,554,206

38,627,061

257,875

288,900

292,744

281,375

35,808,838
35,797,789

36,441,602
36,425,482

37,252,870
37,230,880

38,337,379
38,324,849

705

730

732

681

10,844

15,890

21,258

11,899

7,194

7,907

8,592

8,307

25,581,722
6,824,658
266,143
12,064,372
6,426,549

24,505,491
5,400,679
264,809
11,719,526
7,120,477

31,098,068
11,019,039
250,798
12,386,649
7,441,582

27,142,510
6,729,214
268,203
12,261,389
7,883,704

23,202
4,374
62
1,374
17,392

29,312
9,096
56
1,711
18,449

28,720
7,204
67
1,540
19,909

29,695
7,798
36
2,024
19,837

28,767
5,025
97
2,046
21,599

Domestic interbank and postal savings
deposits— total............................................ 13,774,796
Commercial banks in the U. S.— demand. . . . 12,877,458
Commercial banks in the U. S.— time............
225,336
Mutual savings banks in the U. S.— demand.
612,295
Mutual savings banks in the U. S.—time. . . .
41,114
18,593
Postal savings....................................................

14,888,976
13,907,380
240,989
684,285
38,153
18,169

14,346,147
13,384,665
249,728
645,117
50,195
16,442

13,979,354
12,924,607
280,514
710,091
46,888
17,254

14,268,764
13,323,080
268,710
610,294
49,252
17,428

879
29
850

945
26
919

915
35
880

1,178
25
1,153

1,236
32
1,204

3,904,827

4,548,654

4,551,195

4,854,482

5,193,043

7

564,729

724,335

604,505

626,447

841,590

7

2,117,991
1,088,759
133,348

2,431,688
1,265,391
127,240

2,680,935
1,139,336
126,419

2,856,924
1,264,201
106,910

3,045,415
1,177,311
128,727

F oreign government and bank deposits—
total...............................................................
Foreign governments, central banks, etc.—
demand.......................................................
Foreign governments, central banks, etc.—
time.............................................................
Banks in foreign countries—demand..............
Banks in foreign countries— tim e....................

Total deposits............................................. 247,285,583 261,443,531 256,254,987 265,564,791 274,646,629
Demand....................................................... 152,448,169 163,216,578 153,685,097 159,101,492 162,952,144
Time............................................................ 94,837,414 98,226,953 102,569,890 106,463,299 111,694,485




55
22

33

35,334,873
293,817
85,041,056

36,104,164
275,902
85,828,262

36,768,051
805,593
36,462,458

37,585,079
311,183
87,278,896

38,657,119
296,807
38,860,812

CORPORATION

6,780

26,612,191
8,587,999
262,873
11,599,766
6,161,553

Government deposits—total...........................
United States Government— demand.............
United States Government— time...................
States and subdivisions—demand...................
States and subdivisions— time.........................

INSURANCE

581
25,629

DEPOSIT

40,849,693

FEDERAL

June 29,
1963

M iscellaneous liabilities— t o t a l.....................
Rediscounts and other borrowed m oney........
Acceptances outstanding..................................
Other liabilities..................................................

8,520,374
1,500,177
1,429,490
5,590,707

10,786,803
3,583,534
1,655,648
5,547,621

10,763,262
2,952,704
1,606,332
6,204,226

9,009,288
1,499,211
1,597,026
5,913,051

790,247
37,647

545,387

496,520

644,242

563,389

752,600

T otal liabilities (excluding capital
a c c o u n ts).................................................. 255,805,957 272,230,334 267,018,249 274,574,079 286,468,452

35,888,042

36,607,962

37,421,724

38,165,668

39,447,366

3,319,390
150
2,349,558
683,920
285,762

3,343,447
150
2,363,637
698,915
280,745

3,427,969
150
2,393,443
747,701
286,675

3,414,214
150
2,439,558
700,190
274,316

3,571,617
533
2,473,815
828,115
269,154

150

150

150

150

533

150

150

150

150

533

331

331

331

331

330

Capital accounts— to ta l...................................
Capital stock, notes, and debentures..............
Surplus................................................................
Undivided profits...............................................
Reserves.............................................................

23,365,225
6,863,036
11,176,117
4,770,202
555,870

23,752,369
6,937,352
11,458,444
4,789,690
566,883

23,826,215
7,092,206
11,661,749
4,493,862
578,398

24,234,621
7,172,366
11,819,350
4,663,487
579,418

25,322,396
7,450,533
12,163,471
5,113,403
594,989

Pledged assets and securities lo a n e d ...........

34,216,059

35,844,661

34,534,701

38,492,256

(2
)

C apital stock , notes, and debentures:
Par or face value— t o ta l...............................
—
Common stock...............................................
Capital notes and debentures......................
Preferred stock...............................................

6,863,336
6,827,985
20,576
14,775

6,937,652
6,882,362
20,496
34,794

7,092,506
7,036,472
21,132
34,902

7,172,666
7,114,462
20,944
37,260

7,450,833
7,282,980
130,014
37,839

Retirable value of preferred stock..................

15,426

35,435

35,540

37,702

(2
)

Number of banks......................................................

13,109

13,126

13,147

13,196

13,291

MEMORANDA

Data for the September 30, 1963 call not tabulated for all banks.
Not available for all banks.
Back figures, 193J/.-1962: See the Annual Report for 1962, pp. 130-133, and earlier reports.

1
2




BANKS

580,589
17,200

O
F

653,673
9,431

LIABILITIES

503,798
7,278

AND

553,169
7,782

ASSETS

11,821,823
3,576,530
1,620,293
6,625,000

14
4

Table 110.

A v e r a g e A ssets a n d L ia b il it ie s and A ssets and L ia b il it ie s P e r $100 of T o tal A ssets o f I nsu red C o m m ercial
B a n k s in th e U nited St ates (Sta t e s and O th e r A r e a s ), 1963 1
BY CLASS OF BANK

Average assets and liabilities (in thousands o f dollars)

1

Total

National

State

162,872,527
144,733,153
87,225,404
57,507,749
5,120,730
13,018,644

88,770,843
76,745,550
48,748,362
27,997,188
4,789,283
7,236,010

47,297,408
42,590,786
23,588,207
19,002,579
677,376
4,029,246

$1 0 0 . 0 0
17.06
21.43
10.51
48.51
2.49

$1 0 0 . 0 0
17.58

$1 0 0 . 0 0
18.41
18.75
10.08
49.70
3.06

$1 0 0 . 0 0
12.75
27.54
10.79
47.14
1.78

1 0 0 .0 0
8 8 .8 6

1 0 0 .0 0

1 0 0 .0 0

86.45
54.91
31.54
5.40
8.15

90.05
49.87
40.18
1.43
8.52

88.34
53.38
34.96
3.54
8 .1 2

2 1 .1 1
1 0 .6 6

48.27
2.38

53.55
35.31
3.15
7.99

Asset and liability items are averages of the amounts reported for the following call dates: December 28, 1962; March 18, 1963; June 29, 1963; and December 20, 1963.
Note: For income data by class of bank see Tables 116 and 117, pp. 156-160.
Back figures, 1934-1962: See Tables 114 and 115, pp. 152 and 154, the Annual Report for 1962, p. 135, and earlier reports.
1




CORPORATION

47,297,408
6,030,031
13,025,134
5,103,896
22,296,505
841,842

INSURANCE

...................................................................................................

88,770,843
16,341,425
16,647,986
8,948,102
44,118,401
2,714,929

DEPOSIT

United States Government obligations

1

162,872,527
28,626,110
34,385,311
17,369,877
78,613,327
3,877,902

1 0 0 .0 0

Assets and liabilities per $100 o f total assets

298,940,778
50,997,566
64,058,431
31,421,875
145,028,233
7,434,673
298,940,778
264,069,489
159,561,973
104,507,516
10,587,389
24,283,900

Cash and due from banks
....
. . ..........................................................................................
...........................................................................
United States Government obligations
. ..........
Other securities.....................................................................................................................................................
Loans and discounts
...........................................................................................
All other assets
..............................................................................................................................................

FEDERAL

Not
members
F.R.
System

Members F.R. System
Asset or liability item

T a b le 111.

A ssets a n d L ia b il it ie s an d A ssets a n d L ia b il it ie s per $100 of T o tal A ssets of I n su re d C om m ercial

B a n k s O p e r a t in g T h r o ugh ou t 1963 in the U n ite d St a t e s (S t a t e s and O t h e r A r e a s ), D e c e m b e r 20, 1963
b a n k s grouped according

to

a m o u n t of deposits

Banks with deposits of—
Asset or liability item

All
banks 1

$5,000,000
to
$ 1 0 ,0 0 0 , 0 0 0

$ 1 0 ,0 0 0 , 0 0 0
to
$25,000,000

$25,000,000
to
$50,000,000

$50,000,000
to
$1 0 0 ,0 0 0 , 0 0 0

622,176
118,725

3,579,916
546,955

15,952,143
2,306,029

21,259,121
2,934,638

31,964,869
4,173,399

22,141,641
2,884,080

22,289,395
3,005,462

62,036,279
10,595,910

130,157,007
23,650,831

201,350
37,259
260,060
4,782

1,166,662
258,188
1,569,047
39,064

4,867,216
1,566,794
6,983,014
229,090

5,917,492
2,556,942
9,508,810
341,239

8,409,052
3,929,012
14,855,326
598,080

5,539,939
2,593,593
10,672,537
451,492

5,279,130
2,592,826
10,959,878
452,099

11,818,152
6,467,192
31,816,729
1,338,296

19,297,196
14,551,916
68,322,754
4,334,310

310,002,547
273,113,645
162,167,080
110,946,565
11,788,677
25,100,225

622,176
540,501
384,758
155,743
1,875
79,800

3,579,916
3,166,379
1,973,305
1,193,074
16,123
397,414

15,952,143
14,285,044
8,269,067
6,015,977
114,531
1,552,568

21,259,121
19,176,428
10,613,085
8,563,343
223,258
1,859,435

31,964,869
28,867,868
15,616,094
13,251,774
534,555
2,562,446

22,141,641
19,910,352
10,954,964
8,955,388
507,603
1,723,686

22,289,395
19,993,196
11,303,110
8,690,086
598,619
1,697,580

62,036,279
55,163,342
34,651,268
20,512,074
2,023,119
4,849,818

130,157,007
112,010,535
68,401,429
43,609,106
7,768,994
10,377,478

$1 0 0 . 0 0
16.20

$1 0 0 . 0 0
19.08

$1 0 0 . 0 0
15.28

$1 0 0 . 0 0
14.46

$1 0 0 . 0 0
13.80

$1 0 0 . 0 0
13.06

$1 0 0 . 0 0
13.03

$1 0 0 . 0 0
13.48

$1 0 0 . 0 0
17.08

$1 0 0 . 0 0
18.17

O
F

20.16
11.15
49.98
2.51

32.36
5.99
41.80
.77

32.59
7.21
43.83
1.09

30.51
9.82
43.77
1.44

27.83
12.03
44.73
1.61

26.31
12.29
46.47
1.87

25.02
11.71
48.20
2.04

23.69
11.63
49.17
2.03

19.05
10.42
51.29
2.16

14.83
11.18
52.49
3.33

BANKS

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

Liabilities and capital— total..........
Total deposits....................................
Demand deposits.............................
Time and savings deposits..............
Borrowings and other liabilities . . . .
Total capital accounts......................

1 0 0 .0 0
8 8 .1 0

8 .1 0

86.87
61.84
25.03
.30
12.83

Number of banks, December 20..........

12,984

726

52.31
35.79
3.80

1 0 0 .0 0

c o m m ^ w i a f s h o w n ^ n 8 T a b l^ ll 5
^ gr° UP S W n “ TablG
2 Asset and liability items are as of December 2 0 , 1963.

88.45
55.12
33.33
.45
1 1 .1 0

2,127
116

89.55
51.84
37.71
.72
9.73
4,310

90.20
49.92
40.28
1.05
8.75
2,741

90.31
48.85
41.46
1.67
8 .0 2

1,898

1 0 0 .0 0

89.92
49.48
40.44
2.29
7.79
575

1 0 0 .0 0

89.70
50.71
38.99

1 0 0 .0 0

7.62

88.92
55.86
33.06
3.26
7.82

283

257

2 .6 8

1 0 0 .0 0

86.06
52.55
33.51
5.97
7.97
67

UndeF th® heading “ 0 PeratinS throughout the year.” These ratios differ slightly from the ratios for all insured
^

Note: For income and expense data by size of bank see Tables 118, and 119, pp. 160-163.
Back figures, 1941-1962: See the Annual Report for 1902, p. 134, and earlier reports.




$1 0 0 ,0 0 0 , 0 0 0 $500,000,000
to
or
$500,000,000
more

LIABILITIES

Assets and liabilities per
$ 1 0 0 of total assets 2
Assets— total......................................
Cash and due from banks................
United States Government obliga­
tions .................................................
Other securities..................................
Loans and discounts..........................
All other assets...................................

$2 ,0 0 0 , 0 0 0
to
$5,000,000

AND

Liabilities and capital— total..........
Total deposits....................................
Demand deposits.............................
Time and savings deposits..............
Borrowings and other liabilities . . . .
Total capital accounts......................

$ 1 ,0 0 0 , 0 0 0
to
$2 ,0 0 0 , 0 0 0

ASSETS

Assets and liabilities (in
thousands of dollars) 2
Assets— total........................................ 310,002,547
Cash and due from banks................
50,216,029
United States Government obliga­
tions ...............................................
62,496,189
Other securities..................................
34,553,722
Loans and discounts......................... 154,948,155
All other assets..................................
7,788,452

Less
than
$ 1 ,0 0 0 , 0 0 0

2

CI
J

T a b le 112.

A verage A

ssets a n d

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

in th e

U nted Sta t es

( S t a t e s a n d O t h e r A r e a s ) , b y S t a t e , 1963 1

(Amounts in thousands of dollars)
Assets

Cash and
due from
banks

U. S. Gov­
ernment
obligations

Other
securities

Loans
and
discounts

All other
assets

1

Deposits

Total
Total

Demand

Time and
savings

Borrowings
and other
liabilities

Total
capital
accounts

31,421,875

145,028,233

7,434,673 298 ,940,778

264,069,489

159,561,973

104,507,516

10,587,389

24,283,900

63,969,599

31,370,437

144,677,897

7,411,062

298,348,260

263,534,655

159,309,934

104,224,721

10,574,439

24,239,166

Other areas..................

78,301

88,832

51,438

350,336

23,611

592,518

534,834

252,039

282,795

12,950

44,734

State
Alabama.....................
Alaska........................
Arizona.......................
Arkansas....................
California...................

484,079
35,228
238,240
348,115
5,177,072

639,251
71,808
265,347
359,101
5,751,933

333,508
18,918
127,723
235,058
3,095,320

1,218,193
126,394
1,130,263
772,774
18,020,534

47,249
8,356
65,138
27,256
1,021,183

2,722,280
260,704
1,826,711
1,742,304
33,066,042

2,440,725
241,704
1,650,142
1,582,498
29,611,364

1,579,045
124,841
937,500
1,088,747
14,305,040

861,680
116,863
712,642
493,751
15,306,324

42,473
2,788
53,236
13,633
1,259,249

239,082
16,212
123,333
146,173
2,195,429

Colorado....................
Connecticut...............
Delaware....................
District of Columbia.
Florida.......................

486,886
500,875
138,964
358,550
1,155,043

598,527
517,119
243,287
549,083
1,896,758

166,622
416,757
63,281
90,683
620,488

1,345,223
1,617,131
431,255
981,061
2,555,553

55,194
66,745
19,996
36,388
183,845

2,652,452
3,118,627
896,783
2,015,765
6,411,687

2,396,178
2,728,739
784,596
1,832,313
5,772,879

1,465,160
1,885,295
588,983
1,263,633
3,705,338

931,018
843,444
195,613
568,680
2,067,541

48,311
130,779
25,321
37,688
121,680

207,963
259,109

Georgia.......................
Hawaii.......................
Idaho..........................
Illinois........................
Indiana.......................

756,383
102,519
103,566
3,517,261
966,779

762,920
192,759
181,193
5,860,470
1,809,504

320,421
65,622
69,751
2,843,746
443,320

1,885,082
496,749
422,687
10,188,158
2,518,160

82,576
30,571
17,083
366,415
92,745

3,807,382
794,280
22,776,050
5,830,508

3,368,642
787,002
720,695
20,361,727
5,218,184

2,316,275
383,290
431,476
11,934,190
3,334,230

1,052,367
403,712
289,219
8,427,537
1,883,954

103,025
25,624
14,202
619,723
134,038

335,715
75,594
59,383
1,794,600
478,286

Iowa...........................
Kansas.......................
Kentucky...................
Louisiana...................
Maine.........................

606,770
502,930
587,475
746,193
102,045

978,809
843,289
843,712
977,003
173,736

382,938
393,263
233,793
357,639
62,095

1,892,963
1,334,853
1,284,425
1,520,360
436,334

47,560
35,458
40,776
64,383
18,915

3,909,040
3,109,793
2,990,181
3,665,578
793,125

3,500,773
2,802,386
2,686,614
3,312,119
697,133

2,215,768
1,941,649
1,939,148
2,350,082
369,971

1,285,005
860,737
747,466
962,037
327,162

49,269
25,566
33,360
49,719
22,223

358,998
281,841
270,207
303,740
73,769

Maryland...................
Massachusetts...........
Michigan....................
Minnesota..................
Mississippi.................

501,022
1,284,968
1,596,052
889,369
319,089

743,057
1,296,856
3,051,914
1,333,143
368,690

290,457
472,549
1,419,787
518,441
266,278

1,460,792
3,560,422
5,487,048
2,542,727
749,331

62,480
173,289
199,704
106,379
34,701

3,057,808
6,788,084
11,754,505
5,390,059
1,738,089

2,752,625
5,827,461
10,671,376
4,845,874
1,574,337

1,739,806
4,582,187
4,881,653
2,726,842
1,067,489

1,012,819
1,245,274
5,789,723
2,119,032
506,848

63,423
317,899
246,320
105,384
22,758

241,760
642,724
836,809
438,801
140,994




8 8 8 ,2 2 0

8 6 ,8 6 6

145,764
517,128

CORPORATION

64,058,431

50,919,265

INSURANCE

50,997,566

50 States and D. C . ...

DEPOSIT

Total United States. .

FEDERAL

State

Liabilities and capital accounts

1

104,471
20,219
28,835
20,565
9,887

7,614,047
1,024,569
2,124,213
648,521
539,009

6,840,694
933,318
1,890,364
590,216
466,709

4,628,663
564,214
1,439,694
349,939
279,655

2,212,031
369,104
450,670
240,277
187,054

127,508
18,140
40,964
14,615
18,672

645,845
73,111
192,885
43,690
53,628

New Jersey................
New M exico..............
New Y ork ..................
North Carolina..........
North Dakota...........

1,169,170
158,157
11,507,586
688,184
97,560

2,055,140
240,908
9,583,567
670,921
242,602

1,379,496
59,091
6,584,498
425,387
105,946

4,483,984
432,879
29,541,697
1,910,483
400,828

162,421
18,834
2,458,104
90,886
16,896

9,250,211
909,869
59,675,452
3,785,861
863,832

8,321,402
829,159
50,189,659
3,295,530
786,875

4,278,830
546,618
33,208,872
2,204,372
459,397

4,042,572
282,541
16,980,787
1,091,158
327,478

244,609
11,920
4,486,139
176,092
9,929

684,200
68,790
4,999,654
314,239
67,028

O hio............................
Oklahoma..................
Oregon........................
Pennsylvania.............
Rhode Island.............

2,204,137
732,646
393,395
2,796,464
125,596

3,496,729
844,360
552,015
3,889,535
161,938

1,409,661
310,902
254,729
2,583,112
138,884

6,907,871
1,462,172
1,310,984
8,957,270
655,122

227,458
57,637
66,499
334,869
19,958

14,245,856
3,407,717
2,577,622
18,561,250
1,101,498

12,672,512
3,044,691
2,336,384
16,301,220
970,174

6,981,040
2,192,861
1,210,893
9,082,955
501,078

5,691,472
851,830
1,125,491
7,218,265
469,096

384,255
48,315
48,564
503,291
42,087

1,189,089
314,711
192,674
1,756,739
89,237

South Carolina..........
South Dakota............
Tennessee...................
Texas..........................
Utah...........................

242,153
125,957
838,940
3,455,500
208,065

313,653
289,004
906,979
3,220,276
219,345

151,564
80,296
421,655
1,479,912
99,525

591,627
457,313
2,116,992
7,290,385
703,279

25,826
15,707
70,227
424,357
20,544

1,324,823
968,277
4,354,793
15,870,430
1,250,758

1,166,161
879,745
3,927,685
14,220,206
1,124,589

916,608
529,715
2,388,025
9,719,988
599,331

249,553
350,030
1,539,660
4,500,218
525,258

37,942
11,751
86,040
339,774
32,355

120,720
76,781
341,068
1,310,450
93,814

Vermont.....................
Virginia......................
Washington...............
West Virginia............
Wisconsin...................
Wyoming...................

48,541
653,298
580,460
256,796
912,616
88,597

104,298
944,832
739,985
548,322
1,630,471
144,138

46,462
442,410
321,690
129,718
494,370
34,414

307,123
2,207,659
1,758,433
670,365
2,625,909
240,211

9,511
83,185
83,811
29,514
95,824
10,632

515,935
4,331,384
3,484,379
1,634,715
5,759,190
517,992

461,960
3,856,117
3,128,149
1,439,607
5,225,700
467,743

161,393
2,139,625
1,900,226
880,358
2,718,542
269,404

300,567
1,716,492
1,227,923
559,249
2,507,158
198,339

9,777
105,756
81,863
25,969
93,463
6,958

44,198
369,511
274,367
169,139
440,027
43,291

Other area
Puerto R ico...............
Virgin Islands............

75,555
2,746

83,120
5,712

49,648
1,790

336,676
13,660

23,248
363

568,247
24,271

513,264
21,570

244,615
7,424

268,649
14,146

12,005
945

42,978
1,756

BANKS

3,486,805
476,847
1,053,552
343,297
306,338

O
F

737,381
103,259
168,754
63,909
34,954

LIABILITIES

1,856,204
270,700
477,713
144,486
112,209

AND

1,429,186
153,544
395,359
76,264
75,621

ASSETS

Missouri.....................
M ontana....................
Nebraska...................
Nevada.......................
New Hampshire........

1 Asset and liability items are averages of the amounts reported for the following call dates: December 28, 1962; March 18, 1963; June 29, 1963; and December 20, 1963.
Note: For income data by State see Table 120, pp. 164-173.
Back figures, 1946-1962: See the Annual Report for 1962, pp. 136-137, and earlier reports.

147




D

is t r ib u t io n

of

I nsured C

o m m e r c ia l

B anks

in

the

U n it e d St a t e s

(S t a t e s

and

O t h e r A r e a s ), D

ecem ber

20, 1963

18
4

T a b le 113.

BAN KS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND B Y RATIOS OF SELECTED ITEMS TO ASSETS

Number of banks with deposits of—
Ratios

All
banks

348

477
307
720
433
166
71
42

417
356
1,198
1,233
722
295
152

476
947
709
311
146

40
44
280
681
543
223
97

76
292
589
630
413
171
45

129
684
1,334
1,305
659

106
560
983
777
267
58
17

52
432
805
459
126
27
7

6

6
88

3
48
213
647
1,004
607
246

1
10

$1 0 ,0 0 0 , 0 0 0 $25,000,000 $50,000,000
to
to
to
$25,000,000 $50,000,000 $1 0 0 ,0 0 0 , 0 0 0

$1 0 0 ,0 0 0 , 0 0 0 $500,000,000
to
or
more
$500,000,000

Ratios o f obligations o f States and su b­
divisions to total assets o f—
More than zero but less than 1 percent.......
1 to 5 percent...................................................
5 to 10 percent.................................................
10 to 15 percent...............................................
15 to 20 percent...............................................
2 0 percent or more..........................................

1,387
907
3,095
3,854
2,515
1,034
499

Ratios o f U. S. G overnm ent obligations
to total assets o f—
Less than 1 0 percent.......................................
1 0 to 2 0 percent...............................................
20 to 30 percent...............................................
30 to 40 percent...............................................
40 to 50 percent...............................................
50 to 60 percent...............................................
60 percent or more..........................................

455
2,547
4,387
3,534
1,675
548
145

Ratios o f loans to total assets o f—
Less than 1 0 percent.......................................
1 0 to 2 0 percent...............................................
20 to 30 percent...............................................
30 to 40 percent...............................................
40 to 50 percent...............................................
50 to 60 percent...............................................
60 percent or more..........................................

43
251
1,141
2,937
4,537
3,242
1,140

193
233
148
74

Ratios o f cash and due from banks to
total assets o f—
Less than 10 percent.......................................
10 to 15 percent...............................................
15 to 20 percent...............................................
20 to 25 percent...............................................
25 to 30 percent...............................................
30 to 35 percent...............................................
35 percent or more..........................................

3,018
5,075
3,022
1,257
530
216
173

91
205
183
130
91
64
75




86

232
102

43
19
9

53
129
210

198
151
76
22

27
42
122

1

56
254
504
705
494
197

476
770
515
235
120

54
46

211

51

432
1,081
1,443
958
365

1 ,0 0 1

1,649
1,030
420
180
59
34

93
86

690
1,103
636
235
68
22

14

92
360
755
550
140

492
866

391
118
32
6

3

9
12
102

195
175
57
29

19
157
250
110

40
3

3
19
98
191
207
61

151
268
118
31
9
2

2
6

44
111

77
33
10

6

1

9
34
120

62
22
10

11

96
125
41

144
81
14

12
2
1

6

1

9
32
18
3
4

3
53
10
1

2

2
8

2
1

32
106
107
28

18

71
120

62
24
6

86

126
25

40
84
61
46
17
9
1

4
14
45
4

6
10

26
18
7

CORPORATION

$5,000,000
to
$ 1 0 ,0 0 0 , 0 0 0

INSURANCE

$2 ,0 0 0 , 0 0 0
to
$5,000,000

DEPOSIT

$1 ,0 0 0 , 0 0 0
to
$2 ,0 0 0 , 0 0 0

FEDERAL

Less
than
$1 ,0 0 0 , 0 0 0

R atios o f total capital accounts to total
assets o f—
Less than 4 percent.........................................
4 to 6 percent...................................................
6 to 8 percent...................................................
8 to 1 0 percent.................................................
1 0 to 1 2 percent...............................................
12 to 15 percent...............................................
15 percent or m ore..........................................

13
524
3,422
4,566
2,568
1,415
783

1

6

33
128
183
234
260

19
227
638
609
443
280

865
1,662
1,067
522
189

125
889
1,131
448
134
40

180
819
645
189
58
11

Number of banks................................................

13,291

839

2,216

4,373

2,768

1,908

1

33
109
155
112
101

1

165
1,297
914
249
87
28

16
241
603
492
351
179

48
1,074
1,541

107
1,185
985
320
97
41
14
19

888

422
183
96

122
212

121

68

11

17

242
1,113
432
85
17
12
1
6

186
1,069
498
111
20
10
6
8

114
338
108
10
6
2
1

67
170
34
5
4

56
161
33

15
43
9

6
2

2
1

78
349
127
15
7
2
1

4
63
280
175
42
14

42
185
43
4
6
2
1

31
177
41
7

7
49
11

2

1

1

36
154
71
14

25
126
90

6
1

3

1

579

283

258

12

7
29
26
4
1

BANKS

74
254

64
212

71
1,264
1,556
838
338
140
72
94

O
F

516
4,362
3,958
1,992
1,017
518
314
614

100

18
325
660
480
303
151
105
174

LIABILITIES

R atios o f total capital accounts to total
assets other than cash and due from
banks, U. S. G overnm ent obliga­
tions, C.C.C. loans, and F.H.A. and
V.A. real estate loans o f—
Less than 1 0 percent.......................................
10 to 15 percent...............................................
15 to 20 percent...............................................
20 to 25 percent...............................................
25 to 30 percent...............................................
30 to 35 percent...............................................
35 to 40 percent...............................................
40 percent or m ore..........................................

1

44
147
144
127

AND

749
4,755
3,893
1,817
884
435
255
503

ASSETS

R atios o f total capital accoun ts to total
assets other than cash and due from
banks and U. S. G overnm ent obliga­
tions o f—
Less than 10 percent.......................................
10 to 15 percent...............................................
15 to 20 percent...............................................
20 to 25 percent...............................................
25 to 30 percent...............................................
30 to 35 percent...............................................
35 to 40 percent...............................................
40 percent or m ore..........................................

1

67

Back figures, 1958—
1962: See the Annual Report for 1962, pp. 138-139, and earlier reports.

149




I n c o m e of I n su r e d B a n k s

Table 114.

Income of insured commercial banks in the United States (States and other
areas), 1955-1963

Table 115.

Ratios of income of insured commercial banks in the United States (States and
other areas), 1955-1963

Table 116.

Income of insured commercial banks in the United States (States and other
areas), 1963
B y class of bank

Table 117.

Ratios of income of insured commercial banks in the United States (States and
other areas), 1963
B y class of bank

Table 118.

Income of insured commercial banks operating throughout 1963 in the United
States (States and other areas)
Banks grouped according to amount of deposits

Table 119.

Ratios of income of insured commercial banks operating throughout 1963 in the
United States (States and other areas)
Banks grouped according to amount of deposits

Table 120.

Income of insured commercial banks in the United States (States and other
areas), by State, 1963

Table 121.

Income of insured mutual savings banks, 1955-1963

Table 122.

Ratios of income of insured mutual savings banks, 1955-1963




The income data received and published by the Corporation relate
to commercial and mutual savings banks insured by the Corporation.

Commercial banks
Reports of income and dividends are submitted to the Federal
supervisory agencies on either a cash or an accrual basis.
Income data are included for all insured banks operating at the end
of the respective years, unless indicated otherwise. In addition, appro­
priate adjustments have been made for banks in operation during
part of the year but not at the end of the year. Data for 4 insured
branches in Guam of 2 insured banks in California and Hawaii, for 4
insured branches in New York of 2 insured banks in Puerto Rico, for
15 insured branches in Puerto Rico and for 4 insured branches in the
Virgin Islands of insured banks in New York are not available.
The uniform Report of Income and Dividends (formerly called
Report of Earnings and Dividends) was revised extensively in 1961.
New items were added, combining components previously included in
other items; and some items were subsumed into new categories.
Thus certain items, even carrying the same designation (e.g. other
current operating expenses), are not comparable with data reported
for prior years.
The revised form breaks out the following items not previously
available separately: (1) benefits to officers and other employees; (2)
net occupancy expense of bank premises, with a supporting schedule;
(3) furniture and equipment expense (including costs related to the
purchase or rental of automated data processing systems); and (4)
losses on securities sold.
Two expense items previously reported separately have been com­
bined with other items: (1) taxes other than on net income; and
(2) recurring depreciation on banking house, furniture and fixtures.




Taxes on bank premises, social security taxes paid in behalf of build­
ing employees, and recurring depreciation on banking house are now
included under occupancy expense of bank premises. Other social
security taxes are included with officer and employee benefits. Re­
curring depreciation on furniture and fixtures is now included with
furniture and equipment expense.
Revenue and expenses incident to “Federal funds” transactions
have been classified as “ Interest and discount on loans” and “Interest
and discount on borrowed money,” respectively.
In addition to other minor changes in classification, new designa­
tions have been given to certain items. For example, the term “net
income” is the new equivalent of the former term “net profits.” A
further change entailed the division of officers and other employees
into two groups: those engaged in banking operations, and those
concerned with building operations.

Mutual savings banks
The present report of income and dividends for mutual savings
banks was first used by the Corporation for the calendar year 1951.
For a discussion of the history and principles of this report see pp.
50-52 in Part Two of the 1951 Annual Report.

Sources of data
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.

Table 114.

I ncome

of

I nsured C

o m m e r c ia l

B anks

in

th e

U n i t e d S t a t e s (S t a t e s

and

O ther A

r e a s ),

1955-1963

(Amounts in thousands of dollars)
Income item

1955

1956

1957

1958

1959

1960

1961

1962

1963
13,509,713
2,176,454
921,060
8,516,837
155,478
728,857
248,362
573,252
1189,413

8,050,416
1,442,379
412,497
4,879,676
83,815
440,892
186,815
354,520
249,828

8,500,949
1,544,023
501,978
5,046,782
94,674
486,507
191,408
379,395
256,183

9,669,352
1,732,174
546,253
5,856,688
111,991
531,916
205,935
426,016
258,381

10,723,545
1,790,341
578,783
6,698,655
108,655
589,954
218,566
460,251
278,340

11,069,604
1,901,732
629,134
6,891,442
117,259
630,458
223,283
502,871
1173,425

12,218,959
2,093,207
759,030
7,578,200
139,645
681,243
237,446
543,916
x186,272

Current operating expenses— t o ta l........................
Salaries— officers........................................................
Salaries and wages— other employees.....................
Officer and employee benefits...................................
Fees paid to directors and committees....................
Interest on time and savings deposits.....................
Interest 011 borrowed money....................................
Taxes other than on net income..............................
Recurring depreciation on banking house, furni­
ture and fixtures.....................................................
Occupancy expense of bank premises—net............
Furniture and equipment.........................................
Other current operating expenses............................

3,960,173
666,152
1,229,756
(3
)
39,563
678,237
23,093
176,840

4,457,198
720,866
1,372,262
(3
)
42,614
805,857
45,392
187,526

5,119,182
773,769
1,493,778
(3)
45,396
1,141,715
49,538
205,903

5,612,723
827,142
1,573,330
(3
)
48,271
1,380,575
24,161
221,571

6,264,207
892,657
1,684,159
(3
)
51,866
1,580,250
78,350
252,763

6,932,820
966,643
1,831,323
(3
)
56,292
1,785,0S6
87,385
285,801

7,440,492
21,028,869
n ,869,961
377,494
59,794
2,106,645
37,997
(4
)

8,589,177
21,098,146
21,975,406
419,098
63,236
2,845,283
64,325
(4
)

108,306
(6
)
(7
)
1,038,228

128,085
(6
)
(7
)
1,154,600

146,262
(6)
(7
)
1,262,823

168,371
(6
)
(7
)
1,369,305

191,424
(6
)
(7
)
1,532,739

212,493
(6
)
(7
)
1,707,797

(6
)
510,691
224,852
si ,224,189

(5
)
555,670
267,885
»1,300,128

(:>
)
608,462
311.518
31,415,298

Net current operating earnin gs.............................

2,417,533

2,774,724

2,931,235

2,888,223

3,405,145

3,790,725

3,629,112

3,629,782

3,791,733

239,598

250,171

198,413

868,115

328,889

574,826

708,171

467,061

468,450

57,085
20,586
39,930

31,151
14,090
41,001

64,368
9,295
20,751

681,554
9,646
57,145

47,277
27,946
111,447

329,322
12,927
55,568

453,730
9,934
86,574

256,987
6,241
56,761

167,445
4,046
60,516

27,379
50,899
43,722

20,762
77,606
65,563

21,183
39,757
43,063

22,439
42,158
55,176

20,551
57,607
64,062

25,684
70,211
81,114

16,825
51,817
89,291

16,902
56,610
73,560

17,913
131,235
87,295

707,155

993,534

757,432

783,213

1,361,515

978,422

935,461

836,665

883,637

58,939
12,603
95,039

49,887
12,827
63,530

Recoveries, transfers from valuation reserves,
and profits—t o t a l ...............................................
On securities:
Profits on securities sold or redeemed...............
Recoveries...............................................................
Transfers from valuation reserves........................
On loans:
Recoveries...............................................................
Transfers from valuation reserves........................
All other......................................................................
Losses, cliarge-offs, and transfers to valuation
reserves— t o ta l.....................................................
On securities:
Losses on securities sold........................................
Charge-offs prior to sale........................................ }
Transfers to valuation reserves............................
On loans:
Losses and charge-offs...........................................
Transfers to valuation reserves............................
All other......................................................................
Net incom e before related taxes.........................




9,714,980
21,183,264

22 ,1 0 1 , 1 1 1

457,033
67,469
3,464,308
106.517
(4)

221,232
67,276

317,381
101,830

237,480
84,996

93,657
268,159

745,081
168,003

219,767
156,232

/ 44,290
121,354
224,678

28,159
303,600

32,018
452,940
89,369

25,636
• 321,870
87,452

25,053
282,227
114,117

25,459
318,965
104,006

35,760
451,667
114,996

31,194
481,200
132,745

30,107
528,710
111,267

29,588
609,059
118,746

2,031,360

2,372,217

2,973,128

2,372,519

3,387,129

3,401,822

3,260,178

3,379,546

8 6 ,8 8 8

1,949,976

C O R PO R ATIO N

7,231,921
1,342,842
370,045
4,339,866
73,562
385,927
168,497
322,117
229,068

INSURANCE

6,377,705
1,333,690
351,041
3,625,528
71,048
339,975
155,004
281,841
219,579

DEPOSIT

C urrent operating revenue— 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 loans............................
Service charges on deposit accounts........................
Other charges, commissions, fees, etc......................
Trust department.......................................................
Other current operating revenue..............................

1,271,459
1,198,890
72,570

884,458
832,797
51,661

1,384,397
1,300,940
83,457

1,406,102
1,317,292
88,810

1,256,382
1,159,725
96,657

1,226,783
1,130,629
96,154

Net income after related taxes...............................

1,156,240

1,216*725

1,373,821

1,701,667

1,488,061

2,002,732

1,995,720

2,003,796

2,152,763

Dividends and interest on capital— total............
Cash dividends declared on common stock............
Dividends declared on preferred stock and interest
on capital notes and debentures..........................

566,124
563,543

616,890
614,501

678,101
675,867

725,866
723,500

776,386
774,167

831,546
829,522

895,053
893,230

941,189
939,426

993,374
990,039

2,581

2,389

2,234

2,366

2,219

2,024

1,823

1,763

3,335

Net additions to capital from income.................

590,118

599,835

695,720

975,802

711,675

1,171,186

1,100,667

1,062,607

1,159,389

Memoranda
Recoveries credited to valuation reserves (not in­
cluded in recoveries above):
On securities...............................................................
On loans......................................................................
Losses charged to valuation reserves (not included in
losses above):
On securities...............................................................
On loans......................................................................

3,146
39,794

3,332
42,717

2,646
50,824

10,410
69,073

5,585
73,790

18,294
68,232

9,911
73,844

4,714
84,863

6,216
96,897

68,140
88,417

95,505
123,529

74,529
117,937

19,741
127,515

207,061
122,315

47,716
264,405

22,463
249,500

16,305
238,825

17,314
323,475

Average assets and liabilities 9
Assets— total................................................................ 202,331,676
Cash and due from banks......................................... 43,510,745
United States Government obligations................... 63,808,049
Other securities..........................................................
16,294,075
Loans and discounts..................................................
75,800,688
All other assets...........................................................
2,918,119

209,712,780
45,728,691
58,257,149
16,179,498
86,291,628
3,255,814

214,790,440
45,474,318
57,238,574
16,725,206
91,493,989
3,858,353

228,359,687
46,766,041
62,355,819
19,237,561
95,666,835
4,333,431

237,577,389
46,881,654
61,878,548
20,284,525
103,872,351
4,660,311

246,776,722
49,317,003
57,773,429
20,092,632
114,275,450
5,318,208

254,198,199
46,613,211
61,792,135
21,660,321
117,969,985
6,162,547

274,220,778
49,438,670
64,519,914
25,761,084
127,789,110
6,712,000

298,940,778
50,997,566
64,058,431
31,421,875
145,028,233
7,434,673

Liabilities and capital— total.................................. 202,331,676
Total deposits............................................................ 184,734,232
Demand deposits..................................................... 135,422,891
Time and savings deposits.....................................
49,311,341
Borrowings and other liabilities...............................
2,965,764
Total capital accounts............................................... 14,631,680

209,712,780
190,786,522
139,690,432
51,096,090
3,372,960
15,553,298

214,790,440
193,993,484
139,023,597
54,969,887
4,242,293
16,554,663

228,359,687
206,196,015
143,813,475
62,382,540
4,440,097
17,723,575

237,577,389
213,428,979
146,599,745
66,829,234
5,410,250
18,738,160

246,776,722
220,099,028
150,451,481
69,647,547
6,712,522
19,965,172

254,198,199
225,214,703
147,556,175
77,658,528
7,694,509
21,288,987

274,220,778
243,319,550
153,849,494
89,470,056
8,197,420
22,703,808

298,940,778
264,069,489
159,561,973
104,507,516
10,587,389
24,283,900

Number of employees (including building employees),
December 31:
Active officers............................................................
Other employees........................................................

84,931
408,791

88,462
433,563

91,597
452,218

95,308
457,023

98,934
481,666

103,211
506,596

107,279
526,101

112,458
543,695

117,147
531,820

Number of banks, December 3 1 ..................................

13,237

13,218

13,165

13,124

13,114

13,126

13,115

13,124

BANKS

998,397
947,998
50,401

INSURED

814,636
769,843
44,793

O
F

793,737
753,883
39,855

INCOME

Taxes on net income— total....................................
Federal........................................................................
State............................................................................

13,291

Excludes rentals from bank premises; included with “ Occupancy expense of bank premises—net.”
Excludes compensation of building officers and other employees; included with “ Occupancy expense of bank premises—net.”
Jnc!Uj 0(J
wSM1 1 current operating expenses” , except Social Security taxes paid on bank’s account which were included with “ Taxes other than on net income.”
6,
Included with ^
‘Officer and employee benefits” , “ Occupancy expense of bank premises—net” , and “ Other current operating expenses.”
Included with ‘‘Occupancy expense of bank premises—net” , and “ Furniture and equipment.”
®Included with “ Taxes other than on net income,” “ Recurring depreciation on banking house, Furniture and fixtures,” and “ Other current operating expenses.”
7 Included with “ Recurring depreciation on banking house, furniture and fixtures” , and “ Other current operating expenses.”
8 Not comparable with amounts reported for previous years; see footnotes 3 , 4 , 6 , and 7.
a For 1955 through 1960, averages of amounts reported at beginning, middle, and end of year. For 1961 and 1962, averages of amounts for four consecutive official call dates beginning with the end of the previous year and ending with the fall call of the current year. For 1963 averages of amounts reported at 1962 year-end, 1963 spring, mid-year i and j
vearfind pal s
i-" o»
j
1
2

3
4
5

Note: Due to rounding differences, data for 1955-1959 may not add to total.
Back figures, 1934-1954: See the following Annual Reports: 1954, pp. 138-139; 1950, pp. 250-251; and 1941, pp. 158-159.




^
^
/* *

Table 115.

R

a t io s

op

Incom e

of

I n s u r e d C o m m e r c ia l B a n k s

in

the

U

n it e d

S t a t e s (S t a t e s

1957

A m ou nts per $100 o f current operating revenue
Current operating revenue— to ta l............................................................
Interest on U. S. Government obligations................................................
Interest and dividends on other securities................................................
Income on loans............................................................................................
Service charges on deposit accounts...........................................................
Other charges, commissions, fees, etc.........................................................
Other current operating revenue................................................................

$1 0 0 . 0 0
20.91
5.51
57.96
5.33
2.43
7.86

$1 0 0 . 0 0
18.57
5.12
61.03
5.33
2.33
7.62

$1 0 0 . 0 0
17.92
5.12
61.65
5.48
2.32
7.51

Current operating expenses— to ta l..........................................................
Salaries, wages, and fees..............................................................................
Officer and employee benefits......................................................................
Interest on time and savings deposits........................................................
Taxes other than on net income.................................................................
Recurring depreciation on banking house, furniture and fixtures..........
Occupancy expense of bank premises—net...............................................
Furniture and equipment............................................................................
Other current operating expenses...............................................................

62.09
30.35
(3
)
10.63
2.77
1.70
(8
)
(7
)
16.64

61.63
29.53
(3
)
11.14
2.60
1.77
(6
)
(7
)
16.59

63.59
28.73
(3
)
14.18
2.56
1.82
(6
)
(7
)
16.30

6 6 .0 2

Net current operating earnin gs................................................................

37.91

38.37

3.15
1.96
1.19

3.45
2.13
1.32

A m ounts per $100 o f total capital accounts 9
Net current operating earnings......................................................................
Recoveries, transfers from valuation reserves, and profits—total..............
Losses, charge-offs, and transfers to valuation reserves—total...................
Net income before related taxes.....................................................................
Taxes on net income........................................................................................
Net income after related taxes........................................................................
Cash dividends declared..................................................................................
Net additions to capital from income............................................................
Special ratios 9
Income on loans per $100 of loans.................................................................
Income on U. S. Government obligations per $100 of U. S. Government
obligations.....................................................................................................
Income on other securities per $100 of other securities...............................
Service charges per $100 of demand deposits...............................................
Interest paid per $100 of time and savings deposits....................................




.1 2

.1 2

.35
.96
.57

.47
.97
.58

16.52
1.64
4.83
13.33
5.43
7.90
3.87
4.03

17.84
1.61
6.39
13.06
5.24
7.82
3.96
3.86

1960

1961

$1 0 0 . 0 0
17.91
5.65
61.73
5.50
2.13
7.08

$1 0 0 . 0 0
16.69
5.40
63.48
5.50
2.04
6.89

$1 0 0 . 0 0
17.18
5.68
63.31
5.70

28.80
(3
)
16.24
2.61
1.98
(6
)
(7
)
16.39

64.78
27.19
(3
)
16.34
2.61
1.98
(6
)
(7
)
16.66

64.65
26.62
(3
)
16.65

36.41

33.98

3.74
2.38
1.36
.09
.35
1 .1 0

.64
17.71
1 .2 0

4.58
14.33
6.03
8.30
4.10
4.20

$1 0 0 . 0 0
18.16
5.91
60.48
5.72
2.25
7.48

1959

1962

$1 0 0 . 0 0
17.13

1963

16.11

63.16
5.58
1.94
15.98

$1 0 0 . 0 0
16.11
6.82
64.19
5.39
1.84
15.65

1.98
(6
)
(7
)
16.74

67.22
2
26.73
3.41
19.03
(4
)
(5
)
4.61
2.03
8
11.41

70.29
2
25.67
3.43
23.28
(4
)
(5
)
4.55
2.19
811.17

71.91
2
24.81
3.38
25.64
(4
)
(6
)
4.50
2.31
811.27

35.22

35.35

32.78

29.71

28.09

3.72
2.46
1.26
.38
.34
1.30
.75

4.07
2.64
1.43
.14
.57

4.35
2.81
1.54
.23
.40
1.37
.81

4.35
2.92
1.43
.28
.37
1.34
.79

4.45
3.13
1.32
.17
.30
1.19
.73

4.52
3.25
1.27
.16
.30
1.13
.72

16.30
4.89
4.42
16.77
7.17
9.60
4.09
5.51

18.17
1.76
7.27

18.99

17.05
3.32
4.39
15.98
6.61
9.37
4.20
5.17

15.99
2.06
3.69
14.36
5.53
8.83
4.15
4.68

15.63
1.93
3.64
13.92
5.06

1 .0 0

.63

1 2 .6 6

4.72
7.94
4.14
3.80

2 .6 6

2 .8 8

4.90
16.97
6.94
10.03
4.16
5.87

2 .0 2

6 .2 1

8 .8 6

4.09
4.77

4.88

5.11

5.42

5.37

5.75

5.96

5.94

6.04

5.98

2.09
2.15
.25
1.38

2.31
2.29
.28
1.58

2.52
2.47
.32
2.08

2.48
2.61
.34

2.80
2.69
.36
2.36

3.10

3.08
2.90
.43
2.71

3.24
2.95
.44
3.18

3.40
2.93
.46
3.31

2 .2 1

2 .8 8

.39
2.56

CO R PO R ATIO N

Am ounts per $100 o f total assets 9
Current operating revenue—total..................................................................
Current operating expenses—total.................................................................
Net current operating earnings......................................................................
Recoveries, transfers from valuation reserves, and profits—total..............
Losses, charge-offs, and transfers to valuation reserves—total...................
Net income before related taxes.....................................................................
Net income after related taxes........................................................................

1958

1955-1963

INSURANCE

1956

r e a s ),

DEPOSIT

1955

Other A

FEDERAL

Income item

and

100.00
21.17
26.65
7.79
42.60
1.79

100.00
20.48
27.31
8.42
41.89
1.90

100.00
19.73
26.05
8.54
43.72
1.96

100.00
19.98
23.41
8.14
46.31
2.16

100.00
18.34
24.31
8.52
46.41
2.42

100.00
18.03
23.53
9.39
46.60
2.45

100.00
17.06
21.43
10.51
48.51
2.49

Liabilities and capital— total....................................................................
Total deposits...............................................................................................
Demand deposits........................................................................................
Time and saving deposits..........................................................................
Borrowings and other liabilities..................................................................
Total capital accounts.................................................................................

100.00
91.30
66.93
24.37
1.47
7.23

100.00
90.97
66.61
24.36
1.61
7.42

100.00
90.32
64.73
25.59
1.97
7.71

100.00
90.30
62.98
27.32
1.94
7.76

100.00
89.83
61.70
28.13
2.28
7.89

100.00
89.19
60.97
28.22
2.72
8.09

100.00
88.60
58.05
30.55
3.03
8.37

100.00
88.73
56.10
32.63
2.99
8.28

100.00
88.34
53.38
34.96
3.54

Number of banks, December 31.....................................................................

13,237

13,218

13,165

13,124

13,114

13,126

13,115

13,124

13,291

8 .1 2

BANKS

Excludes rentals from bank premises; included with “ Occupancy expense of bank premises—net.”
Excludes compensation of building officers and other employees; included with “ Occupancy expense of bank premises—net.”
Included with ‘ ‘Other current operating expenses” , except Social Security taxes paid on bank’s account which were included with “ Taxes other than on net income.”
Included with “ Officer and employee benefits” , “ Occupancy expense of bank premises—net,” and “ Other current operating expenses.”
Included with “ Occupancy expense of bank premises—net” , and “ Furniture and equipment.”
Included with “ Taxes other than on net income,” “ Recurring depreciation on banking house, furniture and fixtures,” and “ Other current operating expenses.”
Included with “ Recurring depreciation on banking house, furniture and fixtures” , and “ Other current operating expenses.”
Not comparable with amounts reported for previous years; see footnotes 3, 4, 6 , and 7.
For 1955 through 1960, averages of amounts reported at beginning, middle, and end of year. For 1961 and 1962, averages of amounts for four consecutive official call dates be­
ginning with the end of the previous year and ending with the fall call of the current year. For 1963 averages of amounts reported at 1962 year-end, 1963 spring, mid-year, and yearend calls.
1
2
3
4
5
6
7
8
9

INSURED

100.00
21.81
27.78
7.71
41.15
1.55

O
F

100.00
21.51
31.54
8.05
37.46
1.44

INCOME

Assets and liabilities per $100 of total assets 9
Assets— total...................................................................................................
Cash and due from banks...........................................................................
United States Government obligations......................................................
Other securities.............................................................................................
Loans and discounts.....................................................................................
All other assets.............................................................................................

Back figures, 1934-1954: See the following Annual Reports: 1954, pp. 140-141; 1950, pp. 252-253; and 1941, pp. 160-161.




Cn
C
ti

Table 116.

I ncom e

of

I n s u r e d C o m m e r c ia l B a n k s

in

th e

U

n it e d

S t a t e s (S t a t e s

and

O t h e r A r e a s ),

1963

1
56

BY CLASS OF B ANK

(Amounts in thousands of dollars)

Members F. R. System
Income

Total

National

State

Not
members
F. R.
System

Operating
throughout
the year

Operating
less than
full year

2,349,875
451,250
147,981
1,444,059
28,444
161,175
68,092
25,772
23,102

13,399,271
2,157,593
914,686
8,448,354
153,514
719,832
245,789
571,091
188,412

110,442
18,861
6,374
68,483
1,964
9,025
2,573
2,161

Current operating expenses— total.........................................................................
Salaries— officers.........................................................................................................
Salaries and wages— other employees.......................................................................
Officer and employee benefits..................................................................................
Fees paid to directors and committees.....................................................................
Interest on time and savings deposits......................................................................
Interest on borrowed money.....................................................................................
Occupancy expense of bank premises—net..............................................................
Furniture and equipment...........................................................................................
Other current operating expenses.............................................................................

9,714,980
1,183,264
2 ,1 0 1 ,1 1 1
457,033
67,469
3,464,308
106,517
608,462
311,518
1,415,298

5,228,765
607,954
1,131,033
242,598
31,014
1,917,349
57,070
313,563
173,699
754,485

2,695,988
283,425
635,151
149,947
940,251
47,004
186,707
81,086
360,216

1,790,227
291,885
334,927
64,488
24,254
606,708
2,443
108,192
56,733
300,597

9,618,937
1,171,618
2,080,247
453,605
66,865
3,433,710
106,329
601,574
308,157
1,396,832

96,043
11,646
20,864
3,428
604
30,598
188

Net current operating earnings...............................................................................

3,794,733

2,073,706

1,161,379

559,648

3,780,334

14,399

Recoveries, transfers from valuation reserves, and profits—total.................
On securities:
Profits on securities sold or redeemed..................................................................
Recoveries................................................................................................................
Transfers from valuation reserves.........................................................................
On loans:
Recoveries................................................................................................................
Transfers from valuation reserves.........................................................................
All other.......................................................................................................................

468,450

303,794

105,223

59,433

465,886

2,564

167,445
4,046
60,516

88,053
2,340
44,764

52,262
562
11,941

27,130
1,144
3,811

166,513
4,026
60,314

932

17,913
131,235
87,295

8,062
105,038
55,537

2,489
19,323
18,646

7,362
6,874
13,112

17,851
130,894
86,288

62
341
1,007

Losses, charge-offs, and transfers to valuation reserves— total.....................
On securities:
Losses on securities sold.........................................................................................
Charge-offs prior to sale.........................................................................................
Transfers to valuation reserves..............................................................................
On loans:
Losses and charge-offs............................................................................................
Transfers to valuation reserves..............................................................................
All other.......................................................................................................................

883,637

483,557

253,958

146,122

877,334

6,303

49,887
12,827
63,530

27,750
6,306
39,259

15,176
3,611
17,187

6,961
2,910
7,084

48,773
12,785
63,396

1,114
42
134

29,588
609,059
118,746

12,527
329,596
68,119

3,638
186,852
27,494

13,423
92,611
23,133

29,385
605,788
117,207

203
3,271
1,539

Net income before related taxes..............................................................................

3,379,546

1,893,943

1,012,644

472,959

3,368,886

10,660




1 2 ,2 0 1

1 ,0 0 1

6 ,8 8 8

3,361
18,466

20
202

C O R PO R ATIO N

3,857,367
553,919
268,225
2,416,996
43,944
158,895
66,876
286,510
62,002

INSURANCE

7,302,471
1,171,285
504,854
4,655,782
83,090
408,787
113,394
260,970
104,309

DEPOSIT

13,509,713
2,176,454
921,060
8,516,837
155,478
728,857
248,362
573,252
189,413

FEDERAL

Current operating revenue-—total..........................................................................
Interest on U. S. Government obligations...............................................................
Interest and dividends on other securities...............................................................
Interest and discount on loans..................................................................................
Service charges and fees on loans..............................................................................
Service charges on deposit accounts.........................................................................
Other charges, commissions, fees, etc........................................................................
Trust department........................................................................................................
Other current operating revenue...............................................................................

Taxes on net income— total....................................................................
Federal.........................................................................
State.............................................................................

1,226,783
1,130,629
96,154

688,026
637,099
50,927

Net income after related taxes.............................................................

2,152,763
993,374
990,039

Dividends and interest on capital— total..............................................
Cash dividends declared on common stock........................................
Dividends declared on preferred stock and interest on capital notes and
debentures.................................................................................

388,892
352,368
36,524

149,865
141,162
8,703

1,220,538
1,125,209
95,329

1,205,917

623,752

323,094

2,148,348

4,415

548,186
547,060

328,137
326,685

117,051
116,294

987,515
984,189

5,859
5,850

6,245
5,420
825

3,326

9

1,160,833

-1 ,4 4 4

117,147
531,820

58,238
287,498

23,703
145,234

35,206
99,088

116,112
528,340

1,035
3,480

6,216
96,897

5,306
60,402

418
2 1 ,2 0 2

492
15,293

96,113

4
784

17,314
323,475

11,867
177,661

2,993
95,778

2,454
50,036

17,297
320,323

17
3,152

608,462
152,446
760,908
1,953
86,587
10,578
132,128
85,615
131,465
202,424
110,158

313,563
95,894
409,457
1,186
50,048
5,998
75,058
51,333
68,435
94,717
62,682

186,707
42,699
229,406
602
25,401
3,788
35,358
19,384
38,258
76,283
30,332

108,192
13,853
122,045
165
11,138
792
21,712
14,898
24,772
31,424
17,144

601,574
152,038
753,612
1,922
85,939
10,506
131,191
84,902
130,102
199,614
109,436

6 ,8 8 8

408
7,296
31
648
72
937
713
1,363
2,810
722

Number of building employees, December 31:
Officers.................................................................................................................
Other employees.................................................................................................

304
31,194

152
16,811

56
7,397

96
6,986

300
31,034

4
160

Number of banks, December 31................................................................

13,291

4,615

1,492

7,184

12,984

307

Number of banking employees (exclusive of building employees), December 31:
Active officers..............................................................
Other employees.........................................................
Memoranda
Recoveries credited to valuation reserves (not included in recoveries above):
On securities............................................................................
On loans................................................................................
Losses charged to valuation reserves (not included in losses above) :
On securities.................................................................................
On loans....................................................................................
Occupancy expense of bank premises
Occupancy expense of bank premises, net— total.............................................
Rental and other income....................................................................
Occupancy expense of bank premises, gross— total..........................................
Salaries— building department officers...................................................................
Salaries and wages—building department employees............................................
Building department personnel benefits................................................................
Recurring depreciation............................................................................
Maintenance and repairs........................................................................
Insurance and utilities................................................................................
Rents paid....................................................................................................

6 ,2 1 2

BANKS

757
206,043

INSURED

1,452
295,615

O
F

1,126
657,731

INCOME

3,335
1,159,389

Net additions to capital from income........................................

Note: For average asset and liability data see Table 110, p. 144.
Back figures, 1934-1962: See Table 114, p. 152, the Annual Report for 1962, pp. 146-147, and earlier reports.

157




Cn

00

Table 117.

R

a t io s

of

Incom e

of

I n s u r e d C o m m e r c ia l B a n k s

in

the

U

n it e d

States

(S t a t e s

and

O th er A

r e a s ),

1963

BY CLASS OF BANK

Amounts per $100 of current operating revenue

Total

National

State

$100.00
19.20
6.30
62.66

Current operating expenses- “total.................................................................................................................................
Salaries, wages, and fees.....................................................................................................................................................
Officer and employee benefits.............................................................................................................................................
Interest on time and savings deposits..............................................................................................................................
Occupancy expense of bank premises— net......................................................................................................................
Furniture and equipment...................................................................................................................................................
Other current operating expenses......................................................................................................................................

71.91
24.81
3.38
25.64
4.50
2.31
11.27

71.60
24.24
3.32
26.26
4.29
2.38

69.89
24.13
3.89
24.37
4.84

1 1 .1 1

10.56

76.18
27.71
2.74
25.82
4.60
2.41
12.90

Net current operating earnings.......................................................................................................................................

28.09

28.40

30.11

23.82

Amounts per $100 of total assets 1
Current operating revenue—total.........................................................................................................................................
Current operating expenses— total........................................................................................................................................
Net current operating earnings.............................................................................................................................................
Recoveries, transfers from valuation reserves, and profits— total.....................................................................................
Losses, charge-offs, and transfers to valuation reserves—total.........................................................................................
Net income before related taxes............................................................................................................................................
Net income after related taxes..............................................................................................................................................

4.52
3.25
1.27
.16
.30
1.13
.72

4.48
3.21
1.27
.19
.30
1.18
.74

4.35
3.04
1.31

4.97
3.79
1.18
.13
.31

(2
)
.03

(2
)
.04

.0 2

.0 1
.1 1

.0 1
.1 1

.1 1

Memoranda
Recoveries credited to valuation reserves (not included in recoveries above):
On securities .......................................................................................................................................................................
Losses charged to valuation reserves (not included in losses above):
On securities.........................................................................................................................................................................




2 .1 0

.1 2

.29
1.14
.70

(2
)
(2
)

6 .8 6

2.90
2.08

1 .0 0
.6 8

(2
)
.03
.0 1
.1 1

CORPORATION

$100.00
14.36
6.95
63.80
4.12
1.73
9.04

INSURANCE

$100.00
16.04
6.91
64.90
5.60
1.55
5.00

DEPOSIT

Income on loans...................................................................................................................................................................
Service charges on deposit accounts..................................................................................................................................
Other service charges, commissions, fees, etc...................................................................................................................
Other current operating revenue.......................................................................................................................................

$100.00
16.11
6.82
64.19
5.39
1.84
5.65

FEDERAL

Not
members
F. R.
System

Members F. R. System
Income item

A m ou nts per $100 o f total capital accou n ts 1
Net current operating earnings......................................................................................................
Recoveries, transfers from valuation reserves, and profits—total..............................................
Losses, charge-offs, and transfers to valuation reserves—total...................................................
Net income before related taxes.....................................................................................................
Taxes on net income........................................................................................................................
Net income after taxes................................................................................... " . '. I ! . '! ! ! . '! ! ! ! ! ! ! !
Cash dividends declared..................................................................................................................
Net additions to capital from income............................................................................................

15.63
1.93
3.64
13.92
5.06
4.09
4.77

15.93
2.33
3.71
14.55
5.29
9.26
4.21
5.05

8 .8 6

16.05
1.45
3.51
13.99
5.37
8.62
4.53
4.09

13.89
1.48
3.63
11.74
3.72
8 .0 2

2.91
5.11

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.................................................................................................. .

.03
.40

.04
.46

.07
1.33

.09
1.36

.04
1.32

.06
1.24

Special ratios 1
Income on loans per $100 of loans.................................................................................................
Income on U. S. Government obligations per $ 1 0 0 of U. S. Government obligations...............
Income on other securities per $ 1 0 0 of other securities.................................................................
Service charges per $100 of demand deposits.................................................................................
Interest paid per $100 of time and savings deposits.....................................................................

5.98
3.40
2.93
.46
3.31

6.03
3.41
2.91
.47
3.33

5.58
3.33
3.00
.33
3.36

6.60
3.46
2.90

4.50
1.13
5.63

4.29
1.32
5.61
.70
.08
1.03
.70
.94
1.30

4.84

.8 6

.92
.50
.99
1.98
.79

4.60
.59
5.19
.48
.03
.92
.63
1.06
1.34
.73

4,615

1,492

7,184

.6 8

3.19

BANKS

.1 0

.38

INSURED

13,291

1 .1 1

5.95
.67

.0 1

O
F

Number of banks, December 31

.6 6

.08
.98
.63
.97
1.50
.81

.29

INCOME

O ccupancy expense o f bank premises per $100 o f current operating revenue
O ccupancy expense o f bank prem ises, net— tota l...............................................................
Rental^and other income.................................................................................................................
O ccupancy expense o f bank prem ises, gross— to ta l............................................................
Salaries and wages—building department officers and employees..........................................
Building department personnel benefits....................................................................................
Recurring depreciation................................................................................................................
Maintenance and repairs.............................................................................................................
Insurance and utilities.................................................................................................................
Rents !paid.....................................................................................................................................
Taxes.......................................................................................................................... ...................

.0 1

^For average asset and liability data see Table 110, p. 144.
^Less than .005.
Back figures, 1934-1962: See Table 115, p. 154, the Annual Report for 1962, pp. 148-149, and earlier reports.




Ox
C
O

Table 118.

I ncom e

of

I nsured C

o m m e r c ia l

B a n k s O p e r a t in g T

hroughout

1983

in

th e

U

n it e d

States

(S t a t e s

and

O th er A

reas)

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

10
6

Banks with deposits of— 2
Income item

An
banks1

$5,000,000
to
$ 1 0 ,0 0 0 , 0 0 0

$ 1 0 ,0 0 0 , 0 0 0 $25,000,000
to
to
$25,000,000 $50,000,000

$50,000,000
to
o

$2 ,0 0 0 , 0 0 0
to
$5,000,000

8

$ 1 ,0 0 0 , 0 0 0
to
$2 ,0 0 0 , 0 0 0

©
o
o
©
o
m

Less
than
$ 1 ,0 0 0 , 0 0 0

$ 1 0 0 ,0 0 0 , 0 0 0 $500,000,000
to
or
$500,000,000
more

(Amountsi in thousandsj of dollars)

Recoveries, transfers from valuation re­
serves, and profits— total.......................
On securities:
Profits on securities sold or redeemed. . . .
Recoveries....................................................
Transfers from valuation reserves.............
On loans:
Recoveries....................................................
Transfers from valuation reserves.............
All other...........................................................
Losses, charge-offs, and transfers to
valuation reserves— total.......................
On securities:
Losses on securities sold.............................
Charge-offs prior to sale.............................
Transfers to valuation reserves.................
On loans:
Losses and charge-offs................................
Transfers to valuation reserves.................
All other...........................................................

958,172
196,604
67,416
586,168
6,954
65,519
22,325
4,918
8,268

1,463,519
284,579
102,344
891,927
13,812
111,905
27,677
17,349
13,926

1,003,375
188,445
67,653
613,483
12,282
70,147
18,080
22,892
10,393

997,543
180,480
69,729
616,744
11,595
62,352
15,682
32,053
8,908

2,704,027
415,881
173,324
1,722,838
33,707
144,120
43,206
142,848
28,103

5,375,579
687,638
382,757
3,468,503
70,126
217,285
88,660
349,902
110,708

9,618,937
1,171,618
2,080,247
453,605
66,865
3,433,710
106,329
601,574
308,157
1,396,832

20,662
7,478
2,276
548
643
4,532
15
1,182
460
3,528

119,449
34,951
14,611
3,313
3,151
34,540
118
6,081
3,188
19,496

529,891
117,082
78,155
16,545
12,192
174,972
521
28,388
16,187
85,849

717,139
123,914
121,497
24,535
12,583
251,668
587
41,203
23,041
118,111

1,109,465
156,805
213,313
41,725
13,654
394,072
1,361
68,485
36,783
183,267

758,947
96,318
156,873
31,159
6,305
270,660
1,662
47,471
24,618
123,881

744,666
87,990
155,997
33,866
4,729
267,746
2,638
46,249
25,261
120,190

1,921,933
213,401
458,667
94,443
8,279
633,948
15,403
119,298
68,125
310,369

3,696,785
333,679
878,858
207,471
5,329
1,401,572
84,024
243,217
110,494
432,141

3,780,334

7,138

41,052

178,864

241,033

354,054

244,428

252,877

782,094

1,678,794

465,886

859

3,519

15,689

22,920

34,525

26,411

30,790

85,697

245,476

166,513
4,026
60,314

105
51
14

793
84
147

6,182
401
859

10,672
532
1,464

17,824
1,440
3,392

12,994
570
3,804

13,322
596
4,372

38,040
247
9,688

66,581
105
36,574

17,851
130,894
86,288

566
29
94

1,716
266
513

4,964
944
2,339

3,533
3,052
3,667

2,344
3,200
6,325

959
3,460
4,624

457
5,116
6,927

1,372
9,077
27,273

1,940
105,750
34,526

877,334

1,459

39,728

55,454

89,501

60,916

65,008

160,130

397,394

48,773
12,785
63,396

27
62
24

249
114

1,730
1,589
608

2,625
2,148
1,263

4,148
2,837
4,215

4,788
652
2,962

3,571
555
3,430

7,530
850
19,223

24,105
3,882
31,557

29,385
605,788
117,207

905
246
195

3,058
2,796
1,317

9,190
19,641
6,970

6,647
32,832
9,939

4,925
60,211
13,165

1,563
42,555
8,396

687
47,641
9,124

105,781
24,734

398
294,085
43,367

6,538

36,827

154,825

208,499

299,078

209,923

218,659

707,661

1,526,876

before related taxes.................. 3,368,886
Net income


102

7,744
210

2 ,0 1 2

CORPORATION

Net current operating earnings...................

708,755
159,868
42,801
433,003
4,217
39,616
22,126
853
6,271

INSURANCE

Current operating expenses— total.............
Salaries—officers.............................................
Salaries and wages— other employees...........
Officer and employee benefits........................
Fees paid to directors and committees.........
Interest on time and savings deposits..........
Interest on borrowed money..........................
Occupancy expense of bank premises— n e t..
Furniture and equipment...............................
Other current operating expenses..................

1,245
1,264
218
340

160,501
37,556
7,607
98,654
719
7,643
6,769
58
1,495

DEPOSIT

27,800
6,542
1,055
17,034

FEDERAL

Current operating revenue— total.............. 13,399,271
Interest on U. S. Government obligations.. . 2,157,593
Interest and dividends on other securities.. .
914,686
Interest and discount on loans...................... 8,448,354
Service charges and fees on loans..................
153,514
Service charges on deposit accounts.............
719,832
Other charges, commissions, fees, etc............
245,789
Trust department............................................
571,091
Other current operating revenue...................
188,412

Taxes on net in com e— t o t a l.........................
Federal.............................................................
State .................................................................

1,220,538
1,125,209
95,329

1,778
1,696
82

9,815
9,290
525

43,754
41,378
2,376

64,321
61,144
3,177

100,401
95,982
4,419

74,365
70,686
3,679

78,847
75,190
3,657

Net incom e after related taxes....................

275,820
261,647
14,173

571,437
508,196
63,241

2,148,348

4,760

27,012

111,071

144,178

198,677

135,558

139,812

431,841

955,439

Dividends and interest on capital— to ta l..
Cash dividends declared on common stock..
Dividends declared on preferred stock and
interest on capital notes and debentures..

987,515
984,189

1,780
1,779

9,400
9,397

38,565
38,537

51,522
51,432

74,675
74,503

55,337
55,016

60,186
60,003

203,807
202,945

492,243
490,577

3,326

1

3

28

90

172

321

183

862

Net additions to capital from in c o m e .......

1,160,833

2,980

17,612

72,506

92,656

124,002

80,221

79,626

228,034

463,196

Number of banking employees (exclusive of
building employees), December 31:
Active officers..................................................
Other employees..............................................

116,112
528,340

1,672
1,053

5,940
5,539

16,025
26,519

14,631
37,023

16,173
62,163

9,054
44,208

7,763
42,832

17,908
117,260

26,946
191,743

96,113

109

17
913

61
5,677

143
8,964

332
12,769

302
7,601

217
7,554

494
17,520

4,646
35,006

17,297
320,323

214

23
1,812

53
12,659

232
20,274

979
37,338

1,782
25,837

1,027
26,537

3,164
60,075

10,035
135,577

601,574
152,038

1,182
68

6,081
554

28,388
2,941

41,203
4,357

68,485
9,560

47,471
12,889

46,249
13,773

119,298
55,986

243,217
51,910

753,612
1,922

1,250

6,635

1

6

31,329
23

45,560
40

78,045
50

60,360
104

60,022
138

175,284
642

295,127
918

1,099
1,013
2,305
593
1,115

3,219
137
6,495
4,116
8,563
3,529
5,247

5,049
309
10,024
5,388
10,317
6,711
7,722

8,895
714
15,950

7,683
739
1 1 ,2 1 1

14,905
14,758
12,662

7,305
9,987
13,676
9,655

7,908
894
10,546
7,510
8,913
14,885
9,228

23,397
3,022
28,243
18,068
27,258
48,304
26,350

29,247
4,679
47,479
31,193
47,324
97,084
37,203

59
7,445

74
6,843

257

67

O
F

2

144
198
530
74
254

Number of building employees, December 31:
Officers..............................................................
Other employees..............................................

300
31,034

157

25
974

29
3,342

38
2,994

18
3,600

30
2,791

Number of banks, December 31........................

12,984

726

2,127

4,310

2,741

1,898

575

1
2

48
1

6

493
11

1 0 ,1 1 1

This group of banks is the same as the group shown in Table 116 under the heading “ Operating throughout the year.”
For asset and liability data see Table 111, p. 145.
h“t

Back figures, 1941-1962: See the Annual Report for 1962, pp. 150-151, and earlier reports.




21
2 ,8 8 8

283

BANKS

85,939
10,506
131,191
84,902
130,102
199,614
109,436

INSURED

O ccupancy expense o f bank
premises
Occupancy expense o f bank prem ises,
net— to ta l...................................................
Rental and other income...................................
O ccupancy expense o f bank prem ises,
gross— t o ta l................................................
Salaries— building department officers.........
Salaries and wages—building department
employees.....................................................
Building department personnel benefits.......
Recurring depreciation...................................
Maintenance and repairs................................
Insurance and utilities....................................
Rents paid........................................................
Taxes.................................................................

6 ,2 1 2

INCOME

M em oranda
Recoveries credited to valuation reserves (not
included in recoveries above);
On securities.....................................................
On loans...........................................................
Losses charged to valuation reserves (not
included in losses above):
On securities.....................................................
On loans...........................................................

1 ,6 6 6

Oi

T a b le 119.

R a t i o s o f I n c o m e 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 h r o u g h o u t 1963 in t h e U n i t e d S t a t e s ( S t a t e s a n d O t h e r A r e a s )
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

£5

Banks with deposits of—
Income item

All
banks1

2

Less
than
$1 ,0 0 0 , 0 0 0

$ 1 ,0 0 0 , 0 0 0
to
$2 ,0 0 0 , 0 0 0

$2 ,0 0 0 , 0 0 0
to
$5,000,000

$5,000,000
to
$ 1 0 ,0 0 0 , 0 0 0

$1 0 0 . 0 0
16.10
6.83
64.20
5.37
1.83
5.67

$1 0 0 . 0 0
23.53
3.79
61.64
4.48
4.55

$1 0 0 . 0 0
23.40
4.74
61.91
4.76
4.22
.97

$1 0 0 . 0 0
22.56
6.04
61.69
5.59
3.12

$1 0 0 . 0 0
20.52
7.03
61.90
6.84
2.33
1.38

$1 0 0 . 0 0
19.44
6.99
61.89
7.65
1.89
2.14

$1 0 0 . 0 0
18.78
6.74
62.37
6.99
1.80
3.32

$1 0 0 . 0 0
18.09
6.99
62.99
6.25
1.57
4.11

$1 0 0 . 0 0
15.38
6.41
64.96
5.33
1.60
6.32

$1 0 0 . 0 0
12.79
7.12
65.83
4.04
1.65
8.57

Current operating expenses— ta l.............
-to
Salaries, wages, and fees.................................
Officer and employee benefits........................
Interest on time and savings deposits..........
Occupancy expense of bank premises— net. .
Furniture and equipment...............................
Other current operating expenses..................

71.79
24.77
3.38
25.63
4.49
2.30

74.32
37.40
1.97
16.30
4.25
1 .6 6

1 1 .2 2

1 2 .2 2

74.76
29.27
2.33
24.69
4.00
2.28
12.19

74.84
26.93
2.56
26.26
4.30
2.40
12.39

75.81
26.22
2.85
26.93
4.68
2.51
12.62

75.64
25.86
3.11
26.98
4.73
2.45
12.51

74.65
24.93
3.40
26.84
4.64
2.53
12.31

71.08
25.16
3.49
23.45
4.41
2.52
12.05

68.77

12.74

74.42
32.84
2.06
21.52
3.79
1.99

Net current operating earnings...................

28.21

25.68

25.58

25.24

25.16

24.19

24.36

25.35

28.92

31.23

4.32
3.10

4.47
3.32
1.15

4.48
3.33
1.15

4.44
3.32

4.51
3.38
1.13

4.58
3.47

4.53
3.43

1 .1 1

1 .1 0

4.47
3.34
1.13

4.36
3.10
1.26

4.13
2.84
1.29

.15

.14

.1 0

.1 0

.1 1

.1 1

.1 2

.14

.14

.19

.28
1.09
.69

.24
1.05
.77

.2 2

1.03
.75

.25
.97
.70

.26
.98
.6 8

.28
.94
.62

.27
.95
.61

.29
.98
.63

.26
1.14
.70

.31
1.17
.73

(3
)
.04

(3
)
.03

(3
)
.03

(3
)
.03

(3
)
.03

.0 1
.1 2

(3
)
.1 2

.0 1
.1 0

.0 1
.1 0

(3
)
.03

.0 2

(3
)
.03

(3
)
.04

(3
)
.04

.0 1
.1 0

(3
)
.03

(3
)
.05

(3
)
.08

(3
)

(3
)

.1 0

.1 2

CORPORATION




1 .1 2

2 2 .6 6

3.86
26.07
4.52
2.06
9.60

INSURANCE

M em oranda
Recoveries credited to valuation reserves
(not included in recoveries above) :
On securities...................................................
On loans...........................................................
Losses charged to valuation reserves (not
included in losses above):
On securities....................................................
On loans...........................................................

1 .2 2

1 .0 0

$500,000,000
or
more

DEPOSIT

A m ounts per $ 1 0 0 o f total assets 2
Current operating revenue— total....................
Current operating expenses— total...................
Net current operating earnings.........................
Recoveries, transfers from valuation reserves,
and profits— total........................................
Losses, charge-offs, and transfers to valuation
reserves— total.............................................
Net income before related taxes.......................
Net income after related taxes..........................

2 .0 1

$ 1 0 0 ,0 0 0 , 0 0 0
to
$500,000,000

FEDERAL

A m ou nts per $100 o f current
operating revenue
C urrent operating revenue-— o t a l..............
t
Interest on U. S. Government obligations.. .
Interest and dividends on other securities.. .
Income on loans..............................................
Service charges on deposit accounts.............
Other service charges, commissions, fees, etc.
Other current operating revenue...................

$ 1 0 ,0 0 0 , 0 0 0 $25,000,000 $50,000,000
to
to
to
$25,000,000 $50,000,000 $ 1 0 0 ,0 0 0 , 0 0 0

A m ou nts per $100 o f total capital
accoun ts 2
Net current operating earnings.........................
Recoveries, transfers from valuation reserves,
and profits— total........................................
Losses, charge-offs, and transfers to valuation
reserves—total.............................................
Net income before related taxes.......................
Taxes on net income...........................................
Net income after taxes.......................................
Cash dividends declared.....................................
Net additions to capital from income...............

3.50
13.42
4.86
8.56
3.94
4.62

1.83
8.19
2.23
5.96
2.23
3.73

.38
.07
1.28

11.52

12.96

13.82

14.18

14.90

16.13

16.18

1 .0 1

1.23

1.34

1.53

1.81

1.76

2.36

1.95
9.27
2.47
6.80
2.37
4.43

2.56
9.97
2.82
7.15
2.48
4.67

2.98

3.53
12.18
4.32
7.86
3.21
4.65

3.83

3.46
7.75
2.77
4.98

3.49
11.67
3.92
7.75
2.91
4.84

3.30
14.59
5.69
8.90
4.20
4.70

3.83
14.71
5.50
9.21
4.75
4.46

.14

(3
)
.23

(3
)
.37

.0 1

.0 1

.0 2

.48

.50

.44

(3
)
.27

.0 1

.46

(3
)
.82

1.09

.04
1.46

1.50

.0 2

1 1 .2 1

.0 1

.1 0

1 2 .8 8

4.64
8.24
3.55
4.69

.0 1

.44
.06
1.56

.36

.04
.34

.07
1.24

1.31

.0 1

.1 0

5.55

6.59

6.33

6.26

6.24

6 .1 0

5.86

5.73

5.52

5.18

3.45

3.25

3.22

3.28

3.32

3.38

3.40

3.42

3.52

3.56

2.65
.44

2.83
.32

2.95
.39

2.73
.48

2.64
.62

2.60
.72

2.61
.64

2.69
. 55

2 .6 8

.42

2.63
.32

3.09

2.91

2.90

2.91

2.94

2.97

3.02

3.08

3.09

3.21

4.49
1.13

4.25
.25

3.79
.34

4.00
.42

4.30
.45

4.68
.65

4.73
1.29

4.64
1.38

4.41
2.07

4.52
.97

5.62

4.50

4.13

4.42

4.75

5.33

6 .0 2

6 .0 2

6.48

5.49

.65
.08
.98
.63
.97
1.49
.82

.18
(3
)
.52
.71
1.91
.27
.91

.31

.46

.61
.05
1.09
.69

.89

.56
.09

.63
1.44
.37
.69

.50
.74

.53
.03
1.05
.56
1.08
.70
.80

12,984

726

2,127

4,310

2,741

1,898

.0 1
.6 8

.0 2

.91
.58
1 .2 1

1 .0 2
1 .0 1
.8 6

.78
.07

1.36
.96

.81
.09
1.06
.75
.89
1.49
.93

575

283

1 .1 2

.73
1 .0 0

.1 1

1.04
.67
1 .0 1

BANKS

Number of banks, December 31........................

.89

INSURED

O ccupancy expense o f bank prem ­
ises per $ 1 0 0 o f current op ­
erating revenue
O ccupancy expense o f bank prem ises,
net— to ta l...................................................
Rental and other income...................................
O ccupancy expense o f bank prem ises,
gross— t o t a l................................................
Salaries and wages— building department
officers and employees.................................
Building department personnel benefits, , ,
Recurring depreciation...................................
Maintenance and repairs................................
Insurance and utilities....................................
Rents paid........................................................
Taxes.................................................................

10.33

1.08

O
F

Special ratios 2
Income on loans per $ 1 0 0 of loans....................
Income on U. S. Government obligations per
$100 of U. S. Government obligations. . . .
Income on other securities per $ 1 0 0 of other
securities.......................................................
Service charges per $ 1 0 0 of demand deposits. .
Interest paid per $100 of time and savings
deposits.........................................................

8.94

1 .8 6

INCOME

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...........................................................

15.06

.8 8

.58
.8 8

1.79
.97

1.81
.69

257

67

1
This group of banks is the same as the group shown in Table 116 under the heading “ Operating throughout the year.” These ratios differ slightly from the ratios for all insured
commercial banks shown in Tables 115 and 117.
G*
For asset and liability data see Table 111, p. 145.
^
* Less than .005.

Back figures, 1941-1962: See the Annual Report for 1962, pp. 152-153, and earlier reports.




•-*

T ab le 120.

I n c o m e 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 i t e d S t a t e s ( S t a t e s a n d O t h e r A r e a s ) , B y S t a t e , 1963
(Amounts in thousands of dollars)

Income item

Total
United
States

Other areas
Puerto
Rico

Virgin
Islands

128,344
21,267
9,680
80,449
888
8,870
3,370
2,713
1,107

16,013
2,616
479
9,755
1,050
1,409
532
58
114

Alaska

Arizona

Arkansas

California

Colorado

Connecti­
cut

101,510
8,469
3,989
73,778
2,392
8,183
2,034
2,157
508

76,054 1,652,597
194,278
12,281
87,952
7,178
47,908 1,109,180
209
40,523
4,529
115,288
2,572
26,154
720
51,740
27,482
657

133,258
19,624
5,130
85,687
1,819
11,733
3,037
5,010
1,218

159,149
18,222
10,736
99,701
1,427
10,892
2,340
14,379
1,452

1,294 13,473,392
207 2,173,255
41
919,784
833 8,491,739
82
152,980
24
727,624
80
245,957
573,224
27
188,829

Current operating expenses— to ta l............
Salaries— officers............................................
Salaries and wages— other employees..........
Officer and employee benefits. .. . ................
Fees paid to directors and committees........
Interest on time and savings deposits.........
Interest on borrowed money........................
Occupancy expense of bank premises— net.
Furniture and equipment.............................
Other current operating expenses................

9,714,980
1,183,264
2 , 101,111
457,033
67,469
3,464,308
106.517
608,462
311.518
1,415,298

29,278
3,518
7,314
1,252
174
9,342
64
1,566
944
5,104

1,008
84
246
44
4
438
3
41
28
120

9,684,694
1,179,662
2,093,551
455,737
67,291
3,454,528
106,450
606,855
310,546
1,410,074

89,251
13,759
18,494
3,531
814
30,146
56
4,078
3,060
15,313

12,498
2,015
3,222
387
39
3,253
3
915
563
2,101

79,378
9,385
17,735
3,504
156
26,959
145
6,180
3,915
11,399

54,786 1,246,499
123,451
9,859
275,785
9,785
52,290
2,159
1,382
951
532,804
16,533
20,841
72
73,542
3,589
41,922
1,850
124,482
9,988

99,824
13,940
21,051
3,657
1,024
33,492
480
6,702
3,751
15,727

113,703
16,071
30,389
7,114
766
27,843
622
7,889
4,613
18,396

Net current operating earnin gs.................

3,794,733

5,749

286

3,788,698

39,093

3,515

22,132

21,268

406,098

33,434

45,446

468,450

2,352

466,093

3,236

226

1,517

1,935

32,659

9,077

167,445
4,046
60,516

780

1,391

130

441

300

166,665
4,044
60,216

1,061
23
179

13,369
188
1,619

1,092
277
414

1,494
19
327

17,913
131,235
87,295

444
158
670

17,469
131,077
86,622

316
522
862

18
77

687

423
67
232

995
3,380
13,108

253
162
6,879

35
282
2,218

883,637

2,513

49,887
12,827
63,530

287

29,588
609,059
118,746

664
989
573

3,379,546

5,588

Recoveries, transfers from valuation re­
serves, and profits— t o t a l......................
On securities:
Profits on securities sold or redeemed. . . .
Recoveries...................................................
Transfers from valuation reserves............
On loans;
Recoveries...................................................
Transfers from valuation reserves............
All other..........................................................
Losses, charge-offs, and transfers to
valuation reserves— t o t a l......................
On securities:
Losses on securities sold............................
Charge-offs prior to sale............................
Transfers to valuation reserves................
On loans:
Losses and charge-offs...............................
Transfers to valuation reserves................
All other..........................................................
Net incom e before related taxes................




66

79

389'
1

8,056

1,378

5,793

49,600
12,827
63,530

547
97
176

173

689

56
41

28,924
608,014
118,132

646
5,313
1,277

16
1,039
150

4,434
589

194

3,373,764

34,273

2,363

17,856

81

10,224

98,170
159
138
210

3,397
593
3,878

273
179
47

474
27
678

537
2,524

1,083
69,058
20,161

611
5,127
1,238

69
5,617
3,359

35,036

39,597

18,796

CORPORATION

35,027
2,992
1,235
24,265
2,416
1,209
2,325
28
557

INSURANCE

Current operating revenue— t o ta l............. 13,509,713
Interest on U. S. Government obligations. . 2,176,454
Interest and dividends on other securities. .
921,060
Interest and discount on loans.....................
8,516,837
Service charges and fees on loans................
155,478
Service charges on deposit accounts............
728,857
248,362
Other charges, commissions, fees, etc..........
573,252
Trust department...........................................
Other current operating revenue..................
189,413

DEPOSIT

Alabama

FEDERAL

50 States
and
D. C.

Taxes on net income— total..........................
Federal..............................................................
State..................................................................

1,226,783
1,130,629
96,154

708
604
104

65
65

1,226,010
1,129,960
96,050

11,905
10,535
1,370

1,005
5

7,579
7,152
427

5.550
5.550

147,778
116,592
31,186

12,066
10,417
1,649

15,068
12,042
3,026

Net income after related taxes.....................

129

2,147,754

22,368

1,353

10,277

13,246

192,809

22,970

24,529

991,687
988,352

8.523
8.523

458
458

5.680
5.680

4.466
4.466

114,196
113,532

7.751
7.751

12.627
12.627

1 ,0 1 0

2,152,763

4,880

Dividends and interest on capital— total. .
Cash dividends declared on common stock. .
Dividends declared on preferred stock and
interest on capital notes and debentures...

993,374
990,039

1.687
1.687

Net additions to capital from income........

1,159,389

3,193

129

1,156,067

13,845

895

4,597

8,780

78,613

15,219

11,902

Number of banking employees (exclusive of
building employees), December 31:
Active officers...................................................
Other employees...............................................

117,147
531,820

436
2,104

10

65

116,701
529,651

1,487
5,573

141
659

907
4,556

1,247
3,032

12,438
61,742

1,378
5,491

1,370
7,568

6,216
96,897

112

8

6,216
96,777

30
1,237

5
322

825

5
489

548
10,651

5
1,445

984

17,314
323,475

436

24

17,314
323,015

23
3,683

790

3,752

16
1,180

149
44,452

4,641

4,185

608,462
152,446

1,566
363

41

606,855
152,072

4,078
1,089

915

6,180
1,239

3,589
594

73,542
8,795

6,702
2,984

7,889
1,670

760,908
1,953

1,929
5

52

758,927
1,948

5,167
16

1,026

7,419
34

4,183
9

82,337
205

9,686
19

9,559

86,587
10,578
132,128
85,615
131,465
202,424
110,158

142
24
206
242
322
558
430

86,445
10,554
131,916
85,364
131,139
201,835
109,726

717
70
971
693

32

1,458
241

155
157
304
299
77

432
75
1,261
437
1,542
3,096
542

514
47
1,144
438
838
616
577

3,382
526
10,775
12,654
12,369
31,886
10,540

1,044
152
1,167
913
1,253
4,070
1,068

1,242
144
1,743
948
1,867
2,093
1,514

Number of building employees, December 31:
Officers..............................................................
Other employees...............................................

304
31,194

1
68

303
31,126

3
368

12

3
113

4
279

866

346

343

Number of banks, December 3 1 ........................

13,291

7

13,283

242

12

238

149

194

58

9
4
31
2

1

Note: For average asset and liability data by State see Table 112, pp. 146-147.
Back figures, 1946—
1962: See the Annual Report for 1962, pp. 154—
163, and earlier reports.




1 ,0 0 1

2

9

17

1

6

20

8

BANKS

6

111

12

10

INSURED

11

664

O
F

Occupancy expense of bank
premises
Occupancy expense of bank premises,
net— total....................................................
Rental and other income....................................
Occupancy expense of bank premises,
gross— total................................................
Salaries— building department officers..........
Salaries and wages—building department
employees......................................................
Building department personnel benefits........
Recurring depreciation....................................
Maintenance and repairs................................
Insurance and utilities.....................................
Rents paid.........................................................
Taxes.................................................................

3,335

INCOME

M emoranda
Recoveries credited to valuation reserves (not
included in recoveries above):
On securities.....................................................
On loans............................................................
Losses charged to valuation reserves (not
included in losses above):
On securities.....................................................
On loans............................................................

3,335

1

05
Oi

T ab le 120.

I n c o m e o f I n s u r e d C o m m e r c i a l B a n k s in t h e U n i t e d S t a t e s ( S t a t e s a n d O t h e r A r e a s ) , B y S t a t e , 1963— Continued

16
6

(Amounts in thousands of dollars)
Income item

Delaware

District of
Columbia

Florida

Georgia

Hawaii

Idaho

Illinois

Indiana

952,250
200,721
80,769
555,277
7,720
34,785
12,307
52,037
8,634

259,012
60,098
12,691
157,200
1,671
12,817
4,670
7,128
2,737

175,671
33,781
11,090
112,315
528

196,734
27,050
9,558
125,140
3,713
15,533
7,168
6,742
1,830

49,412
6,765
2,134
34,331
1,433
2,368
1,960
421

42,468
6,032
2,174
27,677
751
4,191
1,141
230
272

Current operating expenses— total............
Salaries— officers............................................
Salaries and wages— other employees..........
Officer and employee benefits.......................
Fees paid to directors and committees........
Interest on time and savings deposits.........
Interest on borrowed m oney........................
Occupancy expense of bank premises—net.
Furniture and equipment.............................
Other current operating expenses................

25,357
3,991
7,167
1,416
253
5,111
75
1,708
1,473
4,163

59,459
7,378
14,603
2,146
501
18,166
108
4,386
1,976
10,195

224,192
30,099
50,976
9,064
2,234
67,886
1,089
13,815
10,384
38,645

142,892
21,766
33,205
6,814
1,599
34,337
1,439
10,330
5,825
27,577

36,857
3,828
8,212
2,504
208
13,459
101
2,124
1,540
4,881

29,253
4.516
6,227
1,340
181
9,883
126
1.516
838
4,626

692,460
77,221
131,319
32.990
4,702
291,038
9,271
34,918
17.990
93,011

Net current operating earnings.

17,923

29,617

71,390

53,842

12,555

13,215

259,790

716

1,506

4,995

5,148

825

701

33,601

297
3
23

570
2

2,777
60
142

2,838
59
311

770

248
1

17,873
378
9,680

284
550
1,182

294
183
1,463

3
4
26

70
62
320

697
1,871
3,102

Recoveries, transfers from valuation re­
serves, and profits— total..........................
On securities:
Profits on securities sold or redeemed.........
Recoveries.......................................................
Transfers from valuation reserves...............
On loans:
Recoveries.......................................................
Transfers from valuation reserves...............
All other..............................................................
Losses, charge-offs, and transfers to valua­
tion reserves— total....................................
On securities:
Losses on securities sold................................
Charge-offs prior to sale................................
Transfers to valuation reserves....................
On loans:
Loses and charge-offs.....................................
Transfers to valuation reserves....................
All other..............................................................
Net income before related taxes .




24
190
179

22

3,761
2,420
1,565

136,575
29,423
11,406
80,956
590
9,425
2,153
1,233
1,389

126,096
27,642
7,275
76,965
1,165
5,195
1,330
5,167
1,357

183,960
28,430
40,465
8,315
2,164
50,372
797
11,917
6,113
35,387

127,707
27,184
21,611
4,591
1,190
40,497
545
7,120
3,829
21,140

94,256
20,536
16,460
3,304
1,343
27,571
281
5,672
2,834
16,255

84,740
15,115
17,236
3,488
1,300
22,481
338
5,745
2,811
16,226

75,052

47,964

42,319

41,356

9,798

3,988

3,222

2,849

3,235
31
1,705

2,060
38
62

1,274
85
195

1,447
26
178

259
970
3,598

591
577
660

992
140
536

374
311
513

10,211

1,778

3,875

20,156

11,845

1,130

1,784

68,919

19,222

9,517

7,959

6,640

1

257

7
3
29

504
58
460

317
64
424

51
2

14
4
89

4,851
779
10,568

1,983
237
2,002

432
246
43

164
434
197

154
313
315

163
743
614

140
3,093
603

1,146
16,109
1,879

450
7,548
3,042

948
129

116
1,116
445

1,230
42,512
8,979

790
9,724
4,486

5,455
2,533

1,788
3,766
1,610

652
3,407
1,799

16,861

27,248

56,229

47,145

12,250

12,132

224,472

65,628

42,435

37,582

37,565

CORPORATION

295,582
64,744
18,441
163,412
4,953
25,667
5,951
9,104
3,310

INSURANCE

89,076
18,634
2,503
54,110
1,139
5,732
1,149
5,222
587

Kentucky

DEPOSIT

43,280
8,263
2,066
23,069.
673
1,187
316
7,016
690

Kansas

FEDERAL

Current operating revenue— total...........
Interest on U. S. Government obligations.
Interest and dividends on other securities.
Interest and discount on loans...................
Service charges and fees on loans..............
Service charges on deposit accounts..........
Other charges, commissions, fees, etc........
Trust department.........................................
Other current operating revenue................

Iowa

17.584
17.584

5,310
5,034
276

5,307
4,477
830

74.098
74.098

24.610
24.610

13.914
13.914

11.650
11.650

14.660
14.660

Net income after related taxes.........................

8,693

14,823

36,620

29,561

6,940

6,825

150,374

41,018

28,521

25,932

22,905

Dividends and interest on capital— total. . . .
Cash dividends declared on common stock. . . .
Dividends declared on preferred stock and in­
terest on capital notes and debentures.........

5.619
5.619

7.008
7.008

14,722
14,687

12.999
12.999

3.530
3.530

3.118
3.118

56,519
56,487

14,173
14,166

10,305
10,290

8,576
8,559

8,782
8,780

32

7

15

17

2

Net additions to capital from income...........

3,074

7,815

21,898

16,562

3,410

3,707

93,855

26,845

18,216

17,356

14,123

Number of banking employees (exclusive of
building employees), December 31:
Active officers.......................................................
Other employees..................................................

371
1,948

570
3,507

3,173
14,877

2,339
9,114

289
2,149

444
1,844

6,830
31,568

2,942
11,233

2,991
6,534

2,461
5,010

1,954
5,199

50
94

305

46
2,767

44
1,362

41
255

1,459
8,791

2,335

66

100

1,149

3
1,332

46
1,154

203
377

1,239

98
9,566

32
4,631

42
691

437

2,188
22,768

244
6,490

16
2,765

139
2,311

208
1,964

1,708
213

4,386
783

13,815
4.755

10,330
2,775

2,124
732

1,516
317

34,918
9,304

11,917
3,521

7,120

5,672
1,347

5,745

1,921

5,169
16

18,570

13,105
30

2,856
28

1,833

44,222
98

15,438
28

8,341
14

7,019

6,957
9

184
23
323
164
303
789
135

1,033
91
745
597
590
1,533
564

1,848
191
3,602
2,109
3.756
3,590
3,408

1,187
125
2,308
1,899
2,132

158
42
422

214

2,736

189

2,554
171
2,824
2,246
2,819
2,861
1,935

1 ,1 2 2

472
159
310
372
294

7,369
725
6,744
5,437
6,690
10,889
6,270

87
1,442
934
1,761
1,823
1,158

871
58
1,474
987
1,318
1,068

Number of building employees, December 31:
Officers..................................................................
Other employees..................................................

3
73

2

10

313

597

4
484

3
91

84

13
2,051

4
1,062

713

9
501

535

Number of.banks, December 3 1 ............................

20

14

382

370

7

27

1,003

432

657

591

341

Memoranda
Recoveries credited to valuation reserves (not
included in recoveries above):
On securities.........................................................
On loans................................................................
Losses charged to valuation reserves (not includ­
ed in losses above):
On securities.........................................................
On loans................................................................
Occupancy expense of bank
premises
Occupancy expense of bank premises, net—
total..................................................................
Rental and other income........................................
Occupancy expense of bank premises,
gross— total....................................................
Salaries— building department officers..............
Salaries and wages— building department
employees.........................................................
Building department personnel benefits...........
Recurring depreciation........................................
Maintenance and repairs....................................
Insurance and utilities........................................
Rents paid............................................................
Taxes.....................................................................

35

66

2 ,6 8 8




704

1 ,2 2 1

8

21

1 ,2 2 2

1 ,2 1 2

987
81
1,218
928
1,397
1,149
1,188
8

167

Note: For average asset and liability data by State see Table 112, pp. 146-147.
Back figures, 1946-1962: See the Annual Report for 1962, pp. 154-163, and earlier reports.

201
1 ,1 1 2

12

11

BANKS

19.609
19.609

INSURED

12.425
12.425

O
F

8,168
7,802
366

INCOME

Taxes on net income— total..............................
Federal..................................................................
State......................................................................

Table 120.

I n c o m e o f I n s u r e d C o m m e r c i a l B a n k s in t h e U n i t e d S t a t e s ( S t a t e s a n d O t h e r A r e a s ) , B y S t a t e , 1963— Continued
(Amounts in thousands of dollars)

Income item

Louisiana

Maine

Maryland

Massa­
chusetts

Michigan

Minne­
sota

Missis­
sippi

Missouri

Montana

Nebraska

Nevadti

Current operating revenue— total...................
Interest on U. S. Government obligations........
Interest and dividends on other securities........
Interest and discount on loans...........................
Service charges and fees on loans......................
Service charges on deposit accounts..................
Other charges, commissions, fees, etc................
Trust department................................................
Other current operating revenue........................

154,820
32,300
10,562
92,376
798
9,981
5,364
1,412
2,027

41,074
5,896
1,625
28,170
330
2,713
529
1,490
321

140,866
25,824
8,445
86,024
2,355
10,480
2,939
3,323
1,476

325,256
41,825
13,391
206,363
3,501
21,960
10,534
21,487
6,195

544,992
107,328
42,952
335,693
4,792
25,463
8,742
16,209
3,813

256,032
47,244
15,272
153,228
1,651
15,903
12,878
7,817
2,039

80,874
13,020
8,745
47,915
179
5,500
3,900
695
920

315,151
62,293
20,925
199,172
1,560
13,948
4,372
9,437
3,444

50,498
9,313
3,075
31,139
904
3,877
1,361
376
453

96,583
16,906
4,748
64,023
244
5,813
2,044
2,030
775

34,609
4,812
1,787
22,825
1,234

Current operating expenses— total.................
Salaries— officers..................................................
Salaries and wages— other employees...............
Officer and employee benefits.............................
Fees paid to directors and committees..............
Interest on time and savings deposits...............
Interest 011 borrowed money..............................
Occupancy expense of bank premises—net. . . .
Furniture and equipment...................................
Other current operating expenses......................

112,257
15,981
23,817
4,245
1,575
29,498
545
9,107
3,877
23,612

31,015
3,863
6,897
1,075
337
10,232
40
2,291
1,105
5,175

101,792
10,835
25,134
4,402
917
31,385
447
6,930
3,541
18,201

2 1 1 ,2 2 0

28,912
64,700
13,198
1,464
36,620
1,681
17,523
9,322
37,800

424,811
36,367
83,327
17,384
2,156
193,155
1,680
23,254
11,576
55,912

190,719
31,007
35,041
8,435
1,943
68,635
792
10,669
5,735
28,462

58,347
10,238
10,972
2,595
862
17,251
253
2,664
2,028
11,484

217,710
31,328
45,477
8,706
2,378
72,996
2,256
12,208
6,013
36,348

36,932
6,361
6,567
1,816
300
11,347
1,184
7,387

65,847
15,744
12,618
3,313
1,054
14,248
568
3,763
2,386
12,153

22,620
3,057
5,871
1,015
63
6,736
94
1,737
804
3,243

Net current operating earnings.......................

42,563

10,059

39,074

114,036

120,181

65,313

22,527

97,441

13,566

30,736

11,989

4,211

1,018

2,189

11,454

13,407

4,086

4,365

11,395

2,233

2,586

500

1,464
13
776

427
18
269

1,510
58
99

3,854
115
607

6,156
48
747

1,715
144
276

1,612
315
1,092

5,200
126
1,638

426
173
758

1,033

251

667

148

363
779
816

99
28
177

49
88

167
2,672
3,617

831
157
963

325
678
343

1,359
1,757
1,315

544

385

129
4,174
2,575

122
210

247
168
465

9
90

11,824

2,671

7,014

26,031

32,833

9,587

7,002

15,963

3,759

5,524

2,226

170
44
51

214
47
290

992

On loans:
Losses and charge-offs.....................................
Transfers to valuation reserves......................
All other...............................................................

105
224
1,067

2,564

5,638
83
2,777

160
317
143

153
790
1,172

704
495
1,684

42
135
541

334
65
434

171

393
7,736
2,299

91
1,897
418

192
4,894
1,377

238
15,817
6,319

611
18,566
5,158

1,028
6,062
1,877

519
3,431
937

994
9,138
2,948

904
1,826
311

383
3,278
1,030

33
1,633
243

Net income before related taxes......................

34,950

8,406

34,249

99,459

100,755

59,812

19,890

92,873

12,040

27,798

10,263

2

146

CO R PO R ATIO N




101

6

INSURANCE

Losses, charge-offs, and transfers to valua­
tion reserves— total......................................
On securities:
Losses on securities sold..................................
Charge-offs prior to sale.................................

496
1,019
234
DEPOSIT

Recoveries, transfers from valuation re­
serves, and profits—total...........................
On securities:
Profits 011 securities sold or redeemed...........
Recoveries.........................................................
Transfers from valuation reserves..................
On loans:
Recoveries.........................................................
Transfers from valuation reserves..................
All other................................................................

102
1 ,8 6 8

2 ,2 0 2

38,063
36,088
1,975

4,512
4,230
282

10.759
10.759

14,740

54,810

7,528

17,039

5,747

5,268
5,264

21,946
21,937

3.317
3.317

6.411
6.411

2.922
2.922

32,864

4,211

10,628

2,825

1,175
3,276

3,591
13,052

671
1,861

1,782
3,806

336
1 .523

3
1,511

33
809

105
1,401

28
340

9-33

5,001
9.659

4,515

77
1,794

593
5,937

700

1,711

631

17,523
2,930

23,254
3,073

10,669
4,157

2,664
1,523

12,208

685

3,763
1,128

1,737
139

20,453
105

26,327
73

14,826

4,187

14,229
18

2,553

4,891
19

1,876

2,373
365
3,506
2,436
4,024
3,388
4,256

3,759
463
4,875
2,994
5,084
5,305
3,774

1,316
113
2,259
1,393
3,201
4,439
2,085

360
40
465
257
432
422
577

659
76
914
555
839
1,156
673

330
239
335
302
437

20,770

2,702
2,697

10,286
10,285

5

1

9

235

52

4

13,268

2,581

10,484

22,585

43,375

19,496

9,472

Number of banking employees (exclusive of
building employees), December 31:
Active officers.......................................................
Other employees...................................................

1,587
6,507

456
2,163

1,189
7,234

2,586
16,623

3,251
21,446

3,437
9,711

4
1,052

16
419

6

920

1,883

3
4.658

205
5,000

79
1,431

168
1,515

739
10,778

9,107
2,476

2,291
383

6,930
1,214

11,583
54

2,674
3

8,144

1,722
131
1,931
1,058
1,631

442
31
476
250
450
655
367

792
70
1,548

4.516
4.516

9

Net additions to capital from income............

M emor and a
Recoveries credited to valuation reserves (not
included in recoveries above):
On securities.........................................................
On loans................................................................
Losses charged to valuation reserves (not in­
cluded in losses above):
On securities.........................................................
On loans................................................................
Occupancy expense of bank
premises
Occupancy expense of bank premises, net
— total..............................................................
Rental and other income........................................
Occupancy expense of bank premises, gross
— total..............................................................
Salaries— building department officers..............
Salaries and wages—building department
employees..........................................................
Building department personnel benefits...........
Recurring depreciation.......................................
Maintenance and repairs....................................
Insurance and utilities........................................
Rents paid............................................................
Taxes.....................................................................
Number of building employees, December 31:
Officers .................................................................
Number of banks, December 3 1 ............................

2 ,2 0 2

2,854

1 ,0 2 2

1,560
2,342
800

53,650

75,077

34,488

31,065
31,056

31,702
31,467

14,992
14,940

412
24
460
433
800
1 ,0 2 2

1,036

2 ,1 2 0

269
2,922
1,705
2,669
3,218
1,308

194

12

1 ,8 6 8

213
20

21
6
15
6
755 Other employees...................................................
882
1,281
638

i.69

9
385
228

64

117

157

124

418

7

2

40

365

699

192

624

169

Note: For average asset and liability data by State see Table 112, pp. 146-147.
Back figures, 1946-1962: See the Annual Report for 1962, pp. 154-163, and earlier reports.




20

2 ,0 2 1

1

284

6

651
198

10

5.150
5.150

BANKS

5,283

9.197
9.197

Dividends and interest on capital-—total. . . .
Cash dividends declared on common stock. . . .
Dividends declared on preferred stock and
interest on capital notes and debentures. . . .

25,324
20,339
4,985

INSURED

22,465

Net income after related taxes.........................

25.678
25.678

45,809
38,570
7,239

O
F

13.479
13.479

12.485
12.485

INCOME

3.123
3.123

Taxes on net income— total..............................
Federal..................................................................
State......................................................................

Table 120.

I n c o m e o f I n s u r e d C o m m e r c i a l B a n k s in t h e U n it e d S t a t e s ( S t a t e s a n d O t h e r A r e a s ) , By S t a t e ,

1963— Continued
k*
—

(Amounts in thousands of dollars)

Income item

New <
Hampshire

New
Jersey

New
Mexico

North
Carolina

New
York

^
North
Dakota

Ohio

Oklahoma

Oregon

Pennsyl­
vania

Rhode
Island

184,109
23,407
11,646
116,806
3,877
12,197
8,005
6,257
1,914

41,077
8,856
3,160
23,231
295
2,246
2,700
285
304

619,540
118,472
43,731
383,528
4,377
31,386
7,838
24,419
5,789

153,021
29,452
8,679
97,409
1,003
10,876
2,180
2,038
1,384

126,609
16,764
6,952
82,678
1,702
11,772
1,898
3,298
1,545

844,662
132,504
75,493
524,747
6,363
31,417
10,081
53,514
10,543

54,875
5,651
3,914
36,232
497
2,787
807
4,393
594

Current operating expenses— total..................
Salaries— officers..................................................
Salaries and wages— other em ployees..............
Officer and employee benefits.............................
Fees paid to directors and committees..............
Interest on time and savings deposits...............
Interest on borrowed money..............................
Occupancy expense of bank premises—n et. . . .
Furniture and equipment...................................
Other current operating expenses......................

19,951
2,865
3,763
775
302
6,725
64
1,191
767
3,499

331,630
34,299
72,759
14,265
2,913
124,901
1,045
21,373
11,053
49,022

34,487 1,686,899
5,382
148,573
411,872
7,453
1,204
108,861
325
5,036
9,543
597,144
26
41,581
2,472
130,956
1,485
42,959
6,597
199,917

130,783
21,399
30,957
6,131
859
33,833

29,696
5,654
4,407
1,304
317
11,174
31
1,483

103,690
20,359
19,842
4,557
1,226
30,077
869
5,632
3,576
17,552

97,090
13,304
20,691
3,771
271
37,717
465
5,565
3,421
11,885

604,559
65,792
125,833
29,099
5,647
224,129
4,174
36,699
21,235
91,951

37,832
3,647
8,153
2,198

4,438

445,480
45,826
92,057
17,483
3,046
174,959
3,184
21,435
12,277
75,213

Net current operating earnings.......................

7,167

94,968

10,790

787,231

53,326

11,381

174,060

49,331

29,519

240,103

17,043

1,421

9,995

931

171,836

5,064

755

13,986

3,507

2,271

30,884

2,113

242
528
439

5,992

33,359

1,636
17
584

13,805
433
7,105

1,591

9

6,038
67
1,631

1,601

23,092

2,936
70
27

445

1,282

548
34
30

54
152

6

352
366
1,992

115
40
164

786
95,845
18,733

136
453
1,442

85
82
128

439
2,798
3,013

872
170
228

27
60
583

582
2,762
6,197

16
442
24

1,889

25,334

4,333

214,712

10,111

1,861

31,082

10,024

8,518

51,321

4,358

177
565
44

2,253
84
2,887

94
47

10,033
3,126
13,062

1,144
63
1,255

47

1,314
621
4,826

128
58
304

2 ,6 8 6
8

976

4,164
783
4,779

1,343

49
784
270

531
16,768
2,811

150
3,599
423

615
181,265
6,611

297
5,257
2,095

1,392
313

88

1,142
18,995
4,184

2,005
6,670
859

65
4,012
771

1,300
33,919
6,376

41
1,941
972

6,699

79,629

7,388

744,355

48,279

10,275

156,964

42,814

23,272

219,666

14,798

Recoveries, transfers from valuation re­
serves, and profits— total...........................
On securities:
Profits on securities sold or redeemed...........
Recoveries.........................................................
Transfers from valuation reserves..................
On loans:
Recoveries.........................................................
Transfers from valuation reserves..................
Losses, charge-offs, and transfers to valua­
tion reserves— total......................................
On securities:
Losses on securities sold..................................
Charge-offs prior to sale..................................
Transfers to valuation reserves......................
On loans:
Losses and charge-offs.....................................
Transfers to valuation reserves......................
All other................................................................
Net income before related taxes......................




11

20

21

1 ,6 6 6

9,135
4,524
22,279

888

6

21

211

15,170
249
2,119
1,231
4,854

40

61

CORPORATION

45,277 2,474,130
7,757
321,043
1,615
197,464
29,505 1,562,455
487
21,826
81,502
3,645
1,225
37,869
185,042
616
427
66,929

INSURANCE

426,598
69,452
41,202
263,235
3,669
26,058
4,569
13,847
4,566

DEPOSIT

27,118
3,500
1,209
18,708
310
2,183
447
511
250

FEDERAL

Current operating revenue— total...................
Interest on U. S. Government obligations........
Interest and dividends on other securities........
Interest and discount on loans...........................
Service charges and fees on loans......................
Service charges on deposit accounts..................
Other charges, commissions, fees, etc................
Trust department................................................
Other current operating revenue.......................

Taxes on net income— total..............................
Federal..............................................................
State..............................................................

2.480
2.480

Net income after related taxes.........................

4,219

58,712

Dividends and interest on capital— total. . . .
Cash dividends declared on common stock. . . .
Dividends declared on preferred stock and in­
terest on capital notes and debentures.........

1.430
1.430

26,809
26,430

1,562

1

Net additions to capital from income...........

2,789

31,903

1,492

255,988

Number of banking employees (exclusive of
building employees), December 31:
Active officers...................................................
Other employees.........................................

344
1,139

3,130
18,864

556
2,104

2

262
2,118

597

4,174

499,610

2,682
2,682

243,622
242,060

3,535
3,280
255

58.753
58.753

28,249

6,740

11,216
11,215

2.691
2.691

17,033

4,049

10,764
88,287

2,283
9,263

3
786

841
15,850

81
603

571
6,765

26
2,085

1,434
78,313

2 ,0 1 2

1,191
155

21,373
3,134

2,472
486

130,956
25,03*5

1,346

24,507
34

2,958

306
267

2,659
383
4,532
3,741
3,935
4,365
4,858

107
73

16,062
14,863
1,199

8,806
6,806

98,211

26,752

40,433
40,424

11.356
11.356

57,778

691
1,467

4,258
23,193

193

115
4,397

334

1,560
10,083

9,135
1,782

1,483
437

155,991
273

10,917
45

1,920

385
29
503
282
419
807
533

13,182
2,429
25,564
12,139
26,322
55,669
20,413

3
895

124

232

61

379

194
1

157
17
234
145
220

69.156
69.156

6,713
5,723
990

14,466

150,510

8,085

8.336
8.336

76.843
76.843

4.797
4.797

15,396

6,130

73,667

3,288

2,267
5,899

1,472
5,211

6,542
32,352

341
2,205

623

2,082
5,091

233

5,492

2,147

1,841
15,757

711

21,435
12,608

5,632
3,806

5,565
533

36,699
7.104

2,119
1,535

1

34,043
152

9,438
31

6,098
57

43,803
134

3,654
49

1,208
131
2,617
1,239
2,059
2,795
823

216
19
480
164
435
312
293

6,004
705
5,595
3,814
6,151
8,195
3,427

1,477
179
1,831
1,162
1,577
2,523
658

752
84
1,437
1,238
819
864
847

7,747
1,035
7,992
4,617
7.104
10,180
4,994

841
136
563
250
474
710
631

24
3,181

4
625

156

20

2,132

7
671

4
215

23
2,802

5
285

336

155

155

551

400

49

611

Note: For average asset and liability data by State see Table 112, pp. 146-147.
Back figures, 1946—
1962: See the Annual Report for 1962, pp. 154—
163, and earlier reports.




2 ,0 0 0

9

883

2

1 ,0 0 2

1

8

BANKS

Number of banks, December 31 ....................

20,030
18,383
1,647

INSURED

Number of building employees, December 31:
Officers...................................................
Other employees...............................................

244,745
212,305
32,440

O
F

Occupancy expense of bank
premises
Occupancy expense of bank premises, net—
total..........................................................
Rental and other income................................
Occupancy expense of bank premises,
gross— total....................................................
Salaries—building department officers..............
Salaries and wages—building department em­
ployees ..............................................................
Building department personnel benefits...........
Recurring depreciation.......................................
Maintenance and repairs....................................
Insurance and utilities........................................
Rents paid............................................................
Taxes.........................................................

3.214
3.214

INCOME

Memoranda
Recoveries credited to valuation reserves (not
included in recoveries above):
On securities.....................................................
On loans................................................
Losses charged to valuation reserves (not in­
cluded in losses above):
On securities...............................................
On loans............................................................

20.917
20.917

T a b l e 12 0.

I n c o m e o f I n s u r e d C o m m e r c i a l B a n k s in t h e U n it e d S t a t e s ( S t a t e s a n d O t h e r A r e a s ) , B y S t a t e , 1963— Continued
(Amounts in thousands of dollars)

Income item

South
Carolina

South
Dakota

*

Vermont

Virginia

Wash­
ington

64,749
7,010
3,107
43,851
1,909
5,376
1,699
1,402
395

26,279
3,426
1,421
18,802
229
1,499
214
470
218

213,421
31,627
13,505
140,453
2,525
13,282
3,990
6,319
1,720

175,595
24,877
9,470
110,679
2,690
16,611
3,956
5,283
2,029

46,241
5,558
8,700
1,658
313
19,045
407
2,442
1,751
6,367

21,157
2,348
3,353
672
312
10,249
23
1,187
570
2,443

154,754
20,450
31,554
6,116
1,687
55,291
763
8,594
5,275
25,024

5,122

Tennessee

Texas

Utah

192,277
31,423
12,589
130,684
1,509
7,873
3,455
3,594
1,150

674,296
111,853
42,330
445,561
6,472
36,810
9,824
14,143
7,303

West
Virginia

Wisconsin

Wyoming

73,479
18,374
3,631
44,696
648
2,675
1,049
1,710
696

244,965
55,581
14,093
149,787
1,494
12,081
2,952
6,016
2,961

24,754
4,541
1,004
16,198
377
1,627
649
186
172

129,260
17,136
32,746
5,650
411
41,964
233
8,226
5,537
17,357

49,108
7,472
9,639
2,018
780
16,238
76
2,748
1,705
8,432

182,595
27,818
30,793
8,050
2,360
74,283
335
9,293
4,863
24,800

17,856
3,037
3.326
658
241
6,469
63
751
721
2.590

58,667

46,335

24,371

62,370

6,898

41,999
8,401
11,408
2,251
534
6,350
43
2,771
1,798
8,443

34,682
7,359
5,502
1,582
507
11,849
41
1,669
1,078
5,095

138,236
17,516
25,629
5,095
1,045
54,854
381
7,570
5,135
2 1 ,0 1 1

476,367
73,230
88,751
17,541
5,092
148,630
5,884
29,384
15,839
92,016

Net current operating earnings.......................

21,947

14,097

54,041

197,929

18,508

Recoveries, transfers from valuation re­
serves, and profits— total...........................
On securities:
Profits on securities sold or redeemed...........

1,056

778

7,204

17,625

860

713

4,168

3,098

1,726

7,667

567

713

371
7
3

3,716
59
325

5,749
308
2,340

590

482
5

2,048
13
461

1,701
16
256

1,086
15

5,846
71
174

155
3

65
33
245

106
72
219

378
2,356
370

2,891
3,272
3,065

41
13
172

174
723
749

64
703
358

116
104
303

124
826
626

213

238

3,474

3,239

12,388

47,635

2,786

1,123

11,231

7,287

4,490

9,623

1,396

28
56
41

63
28

1,039
920
1,703

494
13
83

94
17
18

760
123
657

268
490

425
55
279

581

6

751
417
313

87

175
18
9

92
2,145

116
2,491
535

655
6,826
3,426

4,767
33,757
5,449

96
1,842
258

42
815
137

485
7,670
1,536

115
5,327
986

275
2,726
730

171
7,161
1,422

196
841
157

11,636

48,857

167,919

16,582

4,712

51,604

42,146

21,607

60,414

6,069

Transfers from valuation reserves.................
On loans :
Transfers from valuation reserves.................
Losses, charge-offs, and transfers to valua­
tion reserves— total......................................
On securities:
Losses on securities sold..................................
Charge-offs prior to sale..................................
Transfers to valuation reserves......................
On loans:
Losses and charge-offs.....................................
Transfers to valuation reserves......................

1 ,1 1 2

Net income before related taxes......................




19,529

2,354
29,748
282
2,831
2,579
358
406

1
1

30

101

102

201

12

151

CO R PO R ATIO N

Current operating expenses— total.................
Salaries— officers..................................................
Salaries and wages— other employees...............
Officer and employee benefits.............................
Fees paid to directors and committees.............
Interest on time and savings deposits...............
Interest on borrowed money..............................
Occupancy expense of bank premises— net. . . .
Furniture and equipment...................................
Other current operating expenses......................

1 0 ,2 2 1

INSURANCE

48,779

DEPOSIT

63,946
10,793
4,437
38,908
247
5,035
2,867
1,152
507

FEDERAL

Current operating revenue—
-tota l...................
Interest on U. S. Government obligations........
Interest and dividends on other securities........
Interest and discount on loans...........................
Service charges and fees on loans......................
Service charges on deposit accounts..................
Other charges, commissions, fees, etc................
Trust department................................................
Other current operating revenue.......................

Taxes on net in c o m e -to ta l..............................
Federal........................................................................
State............................................................................

7,712
7,273
439

Net income after related taxes.........................
Dividends and interest on capital— total. . . .
Cash dividends declared on com m on s to c k . . . .
Dividends declared on preferred stock and
interest on capital notes and debentures. . . .

4,402
3,999
403

18,758
18,418
340

64.737
64.737

7,618
7,297
321

1,389
1,254
135

19.026
19.026

16.876
16.876

8.292
8.292

23,429
21,164
2,265

2.171
2.171

11,817

7,234

30,099

103,182

8,964

3,323

32,578

25,270

13,315

36,985

3,898

4,883
4,875

2,667
2,663

11.372
11.372

49.774
49.774

4.772
4.772

1,436
1,366

15,129
15,063

11,062
11,062

4.739
4.739

15,432
15,287

1,346
1,342

4

70

66

145

4

6,934

4,567

18,727

53,408

4,192

1,887

17,449

14,208

8,576

21,553

2,552

Number of banking employees (exclusive of
building employees) December 31:
Active officers............................................................
Other em ployees.......................................................

971
3,510

868
1,730

2,101
7,647

7,671
24,654

601
2,596

300
1,027

2,368
9,116

1,706
7,940

861
2,752

2,895
8,996

318
893

23
230

2
356

59
921

85
9,439

180

123

89
1,121

761

2
432

2
2,139

268

4
905

678

169
4,051

111
21,588

931

616

385
3,391

1
2,190

20
1,072

24
3,116

18
558

2,771
249

1,669
296

7,570
2,134

29,384
24,073

2,442
97

1,187
159

8,594
1,524

8,226
849

2,748
818

9,293
2,494

751
373

3,020
1

1,965

9,704
38

53,457
124

2,539

1,346

10,118
10

9,075
69

3,566
20

11,787
1

1,124
6

263
36
717
463
774
612
154

241
26
326
183
512
333
344

1,326
100
2,114
1.130
1,609
1,256
2.131

5,806
515
10,569
5,893
9,390
8,234
12,926

194
15
355
141
315
1,365
154

199
17
252
121
241
350
166

1,541
144
2,034
996
2,067
2,487
839

845
104
2,688
1,499
1,628
1,398
844

593
53
651
549
708
519
473

1,609
160
2,136
1,228
2,181
2,611
1,861

142
13
250
127
220
101
265

Number of building employees, December 31:
Officers........................................................................
Other em ployees.......................................................

1
161

2
176

6
648

16
2,120

130

96

2
756

6
247

10
296

3
817

2
67

Number of banks, December 3 1 ..............................

134

172

289

1,083

50

48

280

92

181

573

63

Memoranda

Salaries— building department officers...............
Salaries and wages— building department
em ployees...............................................................
Building department personnel benefits.............
Recurring depreciation...........................................
Maintenance and repairs........................................
Insurance and utilities............................................
Rents paid..................................................................
T a xes...........................................................................

Note: For average asset and liability data by State see Table 112, pp. 146-147.
Back figures, 1946-1962: See the Annual Report for 1962, pp. 154-163, and earlier reports.




BANKS

Rental and other incom e............................................

Occupancy expense of bank premises, gross
— total..............................................................

INSURED

Occupancy expense of bank
premises
Occupancy expense of bank premises, net
— total..............................................................

O
F

Recoveries credited to valuation reserves (not
included in recoveries a b o v e ):
On securities..............................................................
On loans......................................................................
Losses charged to valuation reserves (not in­
cluded in losses a b o v e ):
On securities..............................................................
On loans......................................................................

INCOME

8

Net additions to capital from income............

CO

T a b le 121.

I ncome

of

Insured M

utual

S a v i n g s B a n k s , 1955-1963

(Amounts in thousands of dollars)

Income item

1955

1956

Current operating in co m 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 real estate mortgage loans— gross. . .
Less: Mortgage servicing fe e s ...................................................
Premium amortization......................................................
Interest and discount on other loans and discounts—net. . . .
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.................................................

801,682
150,657
99,190
528,426
645,841
15,623
1,792
7,322
-1 7
247
264
8,171
7,933

898,440
146,624
102,590
623,586
645,592
20,475
1,531
8,439

Current operating expense— total...........................................
Salaries— officers..........................................................................
Salaries and wages— employees.................................................
Pension, hospitalization and group insurance payments, and
other employee benefits.......................................................
Fees paid to trustees and committee members........................
Occupancy, maintenance, etc. of bank premises (including
taxes and recurring depreciation)— net.............................
Occupancy, maintenance, etc. of bank premises (including
taxes and recurring depreciation)—gross.........................

147,678
24,200
50,879
13,544
2,697

1959

1960

1961

1962

1963

1,026,327
147,157
127,212
720,215
744,303
23,138
950
10,848
31

1,149,643
141,950
167,489
808,975
836,515
25,985
1,555
11,749

1,280,347
146,353
180,535
921,315
951,952
29,154
1,483
12,669

140

109
7,898
12,966

139
137
8,384
11,094

216
217
7,486
11,990

1,461,763
152,458
199,258
1,070,173
1 ,104,100
32,343
1,584
18,407
27
397
370
7,474
13,966

1,595,183
151,931
205,751
1,194,282
1,231,774
36,045
1,447
18,767
-3 8
379
417
9,081
15,409

1,755,582
156,410
206,367
1,342,896
1,388,735
39,283
1,556
22,733
-5 2
802
354
9,777
17,451

1,946,776
153,659
203,720
1,534,446
1,580,276
44,174
1,666
27,576
-1 08
296
404
9,984
17,499

158,317
25,861
53,962

174,758
28,590
58,310

187,758
30,099
61,797

201,402
32,082
64,396

224,789
36,608
71,295

241,685
38,158
75,303

252,963
40,466
79,165

274,544
42,792
84,514

14,643
2,809

16,478
3,007

18,314
3,203

20,006
3,366

22,6,56
3,731

24,134
3,994

25,419
4,158

27,202
4,404

6

103
97
8,328
8,867

2

-1

19,326

20,925

22,695

25,255

27,369

29,269

32,160

Deposit insurance assessments............................... . . ..............
Furniture and fixtures (including recurring depreciation). . . .
All other current operating expense..........................................

27,846
8,520
9,407
3,251
36,389

30,252
9,327
10,183
3,501
39,736

32,268
9,573
11,316
4,445
43,096

35,120
9,865
11,707
4,740
48,797

37,298
9,929
12,824
5,438
54,465

39,297
10,028
12,172
5,997
56,317

42,583
10,423
12,709
7,714
63,049

Net current operating income..................................................

654,004

740,123

851,569

961,885

1,078,945

1,236,974

1,353,498

1,502,619

1,672,232

Franchise and income taxes— total........................................
State franchise and income taxes...............................................
Federal income taxes...................................................................

9,047
7,818
1,229

8,955
8,321
634

9,060
8,972

10,342
9,831
511

11,649
11,172
477

13,637
13,190
447

16,011
15,277
734

17,966
17,502
464

22,587
19,168
3,419

Net current operating income after tax es............................

644,957

731,168

842,509

951,543

1,067,296

1,223,337

1,337,487

1,484,653

1,649,645

Dividends and interest on deposits.........................................

536,256

609,335

716,383

812,254

897,469

1,073,542

1,147,767

1,334,005

1,481,869

Net current operating income after taxes and dividends.

108,701

121,833

126,126

139,289

169,827

149,795

189,720

150,648

167,776

44,430
11,586

48,192
10,537

48,148
13,434

66,160
17,295

91,205
21,147

142,009
31,133

113,763
17,567

105,907
20,453

113,085
28,678

18,070
481
3,179
977

17,355
456
413
1,435

16,022
259
437
431

30,974
138
367
624

39,498
192
646
2,498

34,860
283
535
6,576

54,263
629
337
459

55,751
739
462
957

28,752
2,465
807
871

1,878
7,710
157
392

4,463
12,501
29
1,003

5,939
10,850
65
711

8,345
8,068
28
321

14,270

57,588
10,480

10,873
29,068
36
531

5,460
21,465

26,995
24,342
46
129

Non-recurring income, realized profits and recoveries
credited to profit and loss, and transfers from valua­
tion adjustment provisions— total..................................
Realized profits and recoveries on:
!
Securities sold or matured......................................................
Real estate mortgage loans.....................................................
All other assets.........................................................................
Transfers from valuation adjustment provisions 1 on:

Digitized for Real estate mortgage loans.....................................................
FRASER
http://fraser.stlouisfed.org/
All other assets.........................................................................
Federal Reserve Bank of St. Louis

88

1 2 ,0 2 1

17
916

86

468

66

554

C O R P O R ATIO N

17,492
25,380
7,888
8,437
3,058
32,055

INSURANCE

15,094
22,793
7,699
7,979
2,790
30,495

DEPOSIT

1958

FEDERAL

1957

Memoranda
Recoveries credited to valuation adjustment provisions 1
(not included in recoveries above) on:
Securities......................................................................................
^Real estate mortgage loans * ....................................................
Other real estate..........................................................................
All other assets............................................................................
Realized losses charged to valuation adjustment provi­
sions1 (not included in realized losses above) on:
Securities......................................................................................
W leal estate mortgage loans........................................................
Other real estate..........................................................................
All other assets............................................................................

71,580
10,645

83,870
12,958

79,852
13,699

126,876
11,385

123,664
16,981

116,143
17,692

109,192
18,941

101,611
17,331

21,673
636

35,526
1,036
179
191

25,056
603
191
684

66,875
330
260
440

63,846
508

823

26,991
542
171
149

40,851
1,252
375
404

31,379
1,083
662
424

47,629
1,681
656
655

10,630
19,219
42
3,174

16,689
16,194
46
153

18,062
15,236
16

30,347
16,151
40
1,048

23,352
17,679
19
754

19,337
35,377

666

21,946
16,733
45
895

744

30,925
25,252
76
450

11,548
21,534
74
503

86,746

98,445

90,404

125,597

134,156

168,140

187,340

147,363

179,250

23
50

1,151
268

972
365
39
5

571
14

173
99

471
136

278
53

1,658
48

3,389

5

37

585

6

35

14

6,267
217
3
300

9,339
197
26
385

1,131
13
165

7,721
720
5
218

5,830
501
448

12,973
5,136
190
178

O
F

Net additions to total surplus accounts from operations. .

66,385
10,087

INCOME

Non-recurring expense, realized losses charged to profit
and loss, and transfers to valuation adjustment pro­
visions— total.........................................................................
Non-recurring expense................................................................
Realized losses on:
Securities sold..........................................................................
Real estate mortgage loans....................................................
Other real estate......................................................................
All other assets........................................................................
Transfers to valuation adjustment provisions 1 on:
Securities..................................................................................
Real estate morgage loans......................................................
Other real estate......................................................................
All other assets........................................................................

101

24

9

4,250
326
180
326

4,055
318

210

315

111

201

2

24,533,839
757,496
5,730,449
3,034,920
14,494,241
155,376
2,197
359,160

26,904,256
723,830
5,592,025
3,559,430
16,445,982
185,174
3,586
394,229

29,160,570
742,225
5,338,796
4,378,447
18,045,621
227,027
4,361
424,093

31,248,671
689,698
5,236,825
4,677,222
19,937,652
244,010
7,002
456,262

34,339,564
721,308
5,092,512
5,036,291
22,628,058
355,327
11,555
494,513

35,916,590
757,912
4,791,909
5,228,022
24,255,437
353,474
18,955
510,881

38,152,221
794,362
4,748,691
5,151,555
26,435,337
441,994
19,640
560,642

41,180,616
786,298
4,563,328
5,115,637
29,538,513
543,458
21,114
612,268

Liabilities and surplus accounts— total............................... 22,740,783
Total deposits.............................................................................. 20,577,403
Savings and time deposits........................................................ 20,525,629
Demand deposits.......................................................................
61,774
Other liabilities............................................................................
199,228
Total surplus accounts................................................................ 1,964,152

24,533,839
22,202,156
22,167,537
34,619
249,779
2,081,904

26,904,256
24,322,261
24,295,761
26,500
318,445
2,263,550

29,160,570
26,304,610
26,274,758
29,852
431,019
2,424,941

31,248,671
28,136,390
28,106,089
30,301
512,192
2,600,089

34,339,564
30,822,839
30,790,599
32,240
598,011
2,918,714

35,916,590
32,320,488
32,113,129
207,359
506,744
3,089,358

38,152,221
34,350,820
34,070,511
280,309
537,630
3,263,771

41,180,616
37,175,285
36,870,906
304,379
588,622
3,416,709

6

Number of active officers, December 31......................................
Number of other employees, December 31..................................

2,042
13,618

2,130
13,860

2,239
14,590

2,356
14,925

2,504
15,110

2,885
16,753

2,977
17,290

3,085
17,617

3,170
18,459

Number of banks, December 31...................................................

220

223

239

241

268

325

330

331

BAN KS

Average assets and liabilities 2
Assets— total.................................................................................. 22,740,783
Cash and due from banks..........................................................
809,152
United States Government obligations....................................
5,993,243
Other securities............................................................................ 3,008,656
Real estate mortgage loans........................................................ 12,467,355
Other loans and discounts..........................................................
130,165
Other real estate..........................................................................
2,019
All other assets............................................................................
330,193

8 ,1 1 0

INSURED

51

8,741
342
127
67

330

1 Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-downs).”
I
2 For 1955 through 1960, averages of figures reported at beginning, middle, and end of year. For 1961 through 1963, averages of amounts for four consecutive official call dates beginning with the end of the previous year and ending with the fall call of the current year.
^

Back figures, 1934-1954: Data for 1934-1950, which however are not comparable with figures for 1951-1963, may be found in the following Annual Reports: 1941, p. 173: and 1950,
pp. 272-273. For 1951-1954 see the Annual Report for 1959, pp. 166-167.




—1

*1
<
05

T a b le 122.

R a t i o s o f I n c o m e o f I n s u r e d M u t u a l S a v in g s B a n k s , 1955-1963

Income item

1955

1956

1957

1958

1959

1960

1961

1962

1963

1 .0 2

.99

$100.00
16.32
11.42
69.41
.94
.92
.99

$100.00
14.34
12.40
70.17
1.06
.77
1.26

$100.00
12.35
14.57
70.37

$100.00
10.43
13.63
73.21
1.26
.51
.96

$100.00
9.52
12.90
74.87
1.18
.57
.96

$100.00
8.91
11.76
76.49
1.29
.56
.99

$100.00
7.89
10.46
78.82
1.42
.51
.90

17.03
2.79
5.68

16.33
2.62
5.37

15.73
2.51
5.03

15.38
2.50
4.88

15.15
2.39
4.72

14.41
2.30
4.51

14.10

1 .0 2

18.42
3.02
6.35

17.62

1.69
.34

1.63
.31

1.60
.29

1.59
.28

1.56
.26

1.55
.26

1.51
.25

1.45
.24

1.40
.23

1 .8 8

.99
.35
3.80

1.95
.94
.34
3.57

1 .8 8

.92
.32
3.55

1.82
.89
.30
3.46

1.77
.35
3.37

1.73
.80
.32
3.34

1.72
.80
.34
3.42

1.67
.69
.34
3.21

1.65
.65
.39
3.24

Net current operating income...................................................................

81.58

82.38

82.97

83.67

84.27

84.62

84.85

85.59

85.90

Franchise and income taxes— total..........................................................
State franchise and income taxes................................................................
Federal income taxes....................................................................................

1.13
.98
.15

1 .0 0

.88
.87

.90

.93
.90
.03

1.02

.04

.91
.87
.04

Net current operating income after taxes.............................................

80.45

81.38

82.09

82.77

83.36

Dividends and interest on deposits..........................................................

66.89

67.82

69.80

70.65

70.10

Net current operating income after taxes and dividends.................

13.56

13.56

12.29

12.12

13.26




2 .8 8
6 .0 0

.93
.07

.0 1

.8 6

.8 8

2 .2 0

4.34

.96
.04

1 .0 0
.0 2

1.16
.98
.18

83.69

83.85

84.57

84.74

73.44

71.95

75.99

76.12

10.25

11.90

8.58

8.62

1 .0 0

CORPORATION

Current operating expense— total............................................................
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
recurring depreciation)—n e t ...................................................................
Deposit insurance assessments....................................................................
Furniture and fixtures (including recurring depreciation).......................
All other current operating expense...........................................................

INSURANCE

.73
.96

$100.00
11.43
14.10
71.96
.99
.58
.94

DEPOSIT

$100.00
18.79
12.37
65.92
.91

FEDERAL

Amounts per $100 of current operating income
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..................................................................

Amounts per $100 of total assets1
Current operating income— total...................................................................
Current operating expense— total..................................................................
Net current operating income........................................................................
State franchise and income taxes...................................................................
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 provisions 2 total.........
—
Non-recurring expense, realized losses charged to profit and loss, and
transfers to valuation adjustment provisions 2 total.............................
—
Net additions to total surplus accounts from operations............................

.19

.18

.2 2

.29

.41

.31

.28

.27

.29
.38

.29
.40

.31
.34

.27
.43

.41
.43

.36
.49

.32
.52

.28
.39

.24
.44

2.51
3.30

2.56
3.38

2.63
3.57

2 .6 6

3.83

2.79
3.86

2.99
3.96

3.17
3.94

3.29
4.01

3.37
3.98

.47

4.10
.65
3.45
.03
3.42
2.87
.55

4.26

4.44
.67
3.77
.05
3.72
3.19
.53

4.60

3.60
.04
3.56
3.12
.44

.6 6

.6 6

3.94
.05
3.89
3.50
.39

4.73
.67
4.06
.05
4.01
3.60
.41

4.24

4.30

4.38

4.48

4.62

4.73

4.92

5.08

5.19

5.63
2.61

5.43
2.75

5.86
2.95

5.18
3.09

5.19
3.19

5.18
3.49

5.31
3.57

5.14
3.92

5.07
4.02

4.42

4.73

3.99

5.18

5.16

5.76

6.06

4.52

5.25

100.00

100.00

100.00

100.00

100.00

100.00

100.00

3.56
26.36
13.23
54.82
.57

3.09
23.36
12.37
59.08
.63

2.69
20.78
13.23
61.13
.69

2.55
18.31
15.01
61.88
.78

2 .2 1

2 .1 0

.0 1

.0 1

.0 1

.0 2

.0 2

1.45

1.46

1.47

1.45

1.46

14.83
14.67
65.90
1.03
.03
1.44

100.00

100.00

100.00

100.00

100.00

100.00

90.49
90.26
.23
.87
8.64
220

90.50
90.36
.14
8.48

90.40
90.30
.10
1.19
8.41

223

239

1 .0 2

90.20
90.10
.10
1.48
8.32
241

16.76
14.97
63.80
.78

90.04
89.94
.10
1.64
8.32
268

89.76
89.67
.09
1.74
8.50
325

100.00
2.08
12.45
13.50
69.29
1.16
.05
1.47

100.00

13.34
14 56
67.53
.99
.05
1.42

100.00

100.00

100.00

2 .1 1

89.99
89.41
.58
1.41
8.60
330

90.04
89.30

1.91
11.08
12.42
71.73
1.32
.05
1.49

.74

1.41
8.55

90.27
89.53
.74
1.43
8.30

331

330

1 For 1955 through 1960, averages of figures reported at beginning, middle, and end of year. For 1961 through 1963, averages of amounts for four consecutive official call dates be­
ginning with the end of the previous year and ending with the fall call of the current year.
2 Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-dow'ns).”

Back figures, 1934» 1941-1950, and 1951-1958: Data for 1934 and 1941-1950, which however are not comparable with figures for 1951-1960, may be found in the following Annual
Reports: 1947, pp. 156-157 and 1950, pp. 274-275. For 1951-1954 see the Annual Report for 1959, pp. 168-169.




BANKS

Number of banks, December 31 .....................................................................

.19

2 .6 6

3.94
.64
3.30
.04
3.26
2.78
.48

INSURED

Liabilities and surplus accounts— total.................................................
Total deposits...............................................................................................
Savings and time deposits.........................................................................
Demand deposits........................................................................................
Other liabilities.............................................................................................
Total surplus accounts.................................................................................

3.81
.65
3.16
.03
3.13

O
F

Assets and liabilities per $100 of total assets 1
Assets— total...................................................................................................
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.............................................................................................

.04
2.84
2.36
.48

3.66
.64
3.02
.04
2.98
2.48
.50

2 .8 8

INCOME

Special ratios 1
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 andi nterest on deposits per $100 of savings and time deposits. .
Net additions to total surplus accounts from operations per $100 of total
surplus accounts...........................................................................................

3.53
.65

D

Table 123.

e p o s it

I n su ran ce D

is b u r s e m e n t s

Depositors, deposits, and disbursements in insured banks requiring disbursements
by the Federal Deposit Insurance Corporation, 1934-1963
Banks grouped by class of bank, year of deposit payoff or deposit assumption,
amount of deposits, and State

Table 124.

Insured banks requiring disbursements by the Federal Deposit Insurance Corpora­
tion during 1963

Table 125.

Recoveries and losses by the Federal Deposit Insurance Corporation on principal
disbursements for protection of depositors, 1934-1963




Sources of data
Insured banks: books of bank at date of closing; and books of
F D IC , December 31, 1963.

DISBURSEMENTS




No noninsured banks failed in 1963.
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; 1951, p. 187; 1952, p.
139; 1953, p. 131; 1954, p. 165; 1955, p. 161; 1956, p. 143; 1957, p.
145; 1958, p. 223; 1960, p. 181; 1961, p. 149; and 1962, p. 168.

INSURANCE

financial difficulties are paid off, or when the deposits of a failing bank
are assumed by another insured bank with the financial aid of the
Corporation. In deposit payoff cases the disbursement is the amount
paid by the Corporation on insured deposits. In deposit assumption
cases the principal disbursement is the amount loaned to failing banks,
or the price paid for assets purchased from them; additional disburse­
ments are made in those cases as advances for protection of assets in
process of liquidation and for liquidation expenses.

Noninsured bank failures

DEPOSIT

Disbursements by the Federal Deposit Insurance Corporation to
protect depositors are made when the insured deposits of banks in

T a b le 1 2 3 .

D e p o s it o r s , D e p o s its , an d D is b u r s e m e n t s i n I n s u r e d B a n k s R e q u ir in g D i s b u r s e m e n t s b y
t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n , 1934-1963

BANKS

GROUPED BY CLASS OF B A N K , YEAR OF DEPOSIT PAYOFF OR DEPOSIT ASSUMPTION, AM OUNT OF DEPOSITS, AND STATE

Nu mber of b anks
Classification

Total

Deposit
payoff
cases

Deposit
assump­
tion
cases 3

Deposits 1
(in thousands of dollars)

Total

Deposit
payoff
cases

Disbursements by FDIC
(in thousands of dollars)
Advances and
expenses 2

Deposit
assump­
tion
cases

Total

Deposit
payoff
cases 4

Assump­
tion
cases 5

Deposit
payoff
cases 6

Assump­
tion
cases 7

Principal disbursements

265

182 1,496,511

461,778 1,034,733

634,542

168,015

466,527

328,227

130,153

198,074

1,508

47,507

79
24
344

26
8
231

53
16
113

311,250
372,545
812,716

66,574
86,939
308,265

130,593
190,536
313,413

30,881
29,417
107,717

99,712
161,119
205,696

61,081
103,265
163,881

22,468
22,994
84,691

38,613
80,271
79,190

274
147
1,087

6,196
19,273
22,038

9
25
69
75
74
60
43
15

9
24
42
50
50
32
19
8
6
4
1

15,767
44,655
89,018
130,387
203,961
392,718
256,361
73,005
60,688
27,371
5,487
12,483
1,383
10,637
18,540
5,671
6,366
5,276
6,752
24,469
1,811
17,790
15,197
2,338
9,587
3,073
11,171
8,294

15,767
32,331
43,225
74,148
44,288
90,169
20,667
38,594
5,717
16,917
899

1,968
13,319
27,508
33,349
59,684
157,772
142,429
29,718
19,186
12,525
1,915
5,695
347
7,040
10,674
5,475
5,513
3,408
3,170
18,262
998
11,953
11,330
1,163
8,240
2,595
6,930
8,936

1,968
9,091
11,241
14,960
10,296
32,738
5,657
14,730
1,816
6,637
456

941
8,890
14,781
19,160
30,480
67,770
74,134
23,880
10,825
7,172
1,503
1,768
265
1,724
2,990
2,552
3,986
1,885
1,369
5,017
913
6,784
3,333
1,031
3,026
1,835
4,765
6,202

941
6,026
8,056
12,045
9,092
26,196
4,895
12,278
1,612
5,500
404

36,255

36,255

23,440

23,440

19,247

19,247

38,347
83,370
89,949
157,506
202,403
244,780
209,840
197,988
272,328

29,695
65,512
56,777
71,860
63,196
66,141
19,557
89,040

6,418
17,759
20,975
50,972
67,513
106,929
91,063
113,494
159,418

4,947
13,920
12,462
24,184
18,696
30,791
13,589
49,426

4,999
12,906
14,588
33,964
36,332
55,742
36,507
59,536
73,653

4,309
11,554
10,223
19,107
14,153
21,120
10,223
39,465

20

5
2

2

2

3

3

2
2

5

2
2

1
4
3
1
5

4
1
1
3
3
1
5

2

2

107
109
59
67
47
34
14
6

83
86
36
32
14
9

24
23
23
35
33
25

2

12

2

4

3

1
1
1

3
4

8,080
5,465
2,338
4,380
3,073
11,171
8,294

12,324
45,793
56,239
159,673
302,549
235,694
34,411
54,971
10,454
4,588
12,483
1,383
10,637
18,540
5,671
6,366
5,276
6,752
24,469
1,811
9,710
9,732
5,207

8,652
17,858
33,172
85,646
139,207
178,639
190,283
108,948
272,328

6,503
4,702
1,163
4,156
2,595
6,930
8,936

4,229
16,267
18,389
49,388
125,034
136,773
14,987
17,369
5,888
1,459
5,695
347
7,040
10,674
5,475
5,513
3,408
3,170
18,262
998
5,450
6,628
4,084

1,471
3,839
8,513
26,788
48,817
76,138
77,474
64,068
159,418

4,438
2,795
1,031
2*796
1,835
4765
6^202

2,865
6,725
7,116
21,387
41,574
69,239
11,602
9,213
1,672
1,099
1 768
265
1,724
2,990
2*552
3^986
1^885
1*369
5^017
913
2,346
538
230

43
108
67
103
93
162
89
50
38
53
9

272
934
905
4,902
17,603
17,237
1,479
1,076
72
37
96
11
351
200

106
87

166
524
127
195
428
145
665
51

20

38
51
67
146

31

178
691
1,352
4,365
14,857
22,179
34,622
26,284
20,070
73,653

88
209
147
297
191
248
108
221

154
173
583
2,136
3,317
5,525
5,491
5,404
24,723

CO R PO R ATIO N

1
1
5
3
4
4

1
27
25
24
28
24
7
14
1
1
1
1
5
3
4
4

244,676
285,606
504,451

INSURANCE

447

DEPOSIT

Federal Reserve Bank of St. Louis

Deposit
assump­
tion
cases

1

FEDERAL

All b a n k s..................................
Class o f bank
National banks.....................
State banks members F. R. S.
Banks not members F. R. S ..
Y ear 8
1934........................................
1935........................................
1936........................................
1937........................................
1938........................................
1939........................................
1940........................................
1941........................................
1942........................................
1943........................................
1944........................................
1945........................................
1946........................................
1947........................................
1948........................................
1949........................................
1950........................................
1951........................................
1952........................................
1953........................................
1954........................................
1955.................. .....................
1956........................................
1957........................................
1958........................................
1959........................................
1960........................................
1961........................................
1962........................................
1963........................................
Banks with deposits o f—
Less than $100,000...............
$100,000 to $250,000............
$250,000 to $500,000............
$500,000 to $1,000,000.........
$1,000,000 to $2,000,000___
$2,000,000 to $5,000,000___
$5,000,000 to
 $10,000,000. . .
$10,000,000 to $25,000,000 . .
http://fraser.stlouisfed.org/
$25,000,000 to $50,000,000 . .

Deposit
payoff
cases

Total

Number of depositors

o ia ie
Alabama...........
Arkansas...........
California.........
Colorado...........
Connecticut. . . .

7,905
4,434
7,516
10
5,379

794
3,529
4,347
10
5,379

7,111
905
3,169

2,285
1,764
4,792
8
1,526

100
1,168
3,714
8
1,526

2,185
596
1,078

1,089
984
2,981
8
1,242

94
841
2,120
8
1,242

Florida..............
Georgia.............
Idaho................
Illinois..............
Indiana.............

1,642
9,402
2,451
79,546
30,006

448
8,789
2,451
41,627
12,549

1,194
613

491
1,959
1,894
50,761
13,593

217
1,870
1,894
25,077
3,932

274
89
25,684
9,662

300
1,621
1,493
28,472
6,197

203
1,552
1,493
20,489
3,096

16,055
5,145
36,139
6,087
9,710

4,066
2,254
18,490
6,087

9,401
1,234
8,888
1,652
5,450

4,383
539
3,953
1,652

5.018
694
4,934

3,875
974
5,455

’ ’5,450'

2,804
482
3,329
668

2,346

22,567
9,046
31,663
2.650
1.651

6,643

15,924
9,046
30,735

4,566
3,019
13,532
818
334

828

3,738
3.019
13,372

3,109
1,564
6,290
640
257

735

35,963
1,500
2,661
1,780
522,563

27,794
849
2,661

8,169
651

6,053
215
1,042

2,033
880

1,780
418,766

33,128

296
161,502

5,654
640
796
117
82,125

5,007
186
796

103,797

8,086
1,095
1,042
296
194,630

26,468

117
55,657

’ 161'

......... 8
20,154

269,621
10,408
14,103
13,751
25,071

28,440
3,677
6,760
7,585
20,150

241,181
6,731
7,343
6,166
4,921

145,439
3,266
3,830
7,223
13,765

13,286
1,421
1,552
2,345
11,053

132,153
1,845
2,278
4,877
2,712

67,872
2,387
2,657
2,097
9,256

10,836
1,156
1,397
1,610
7,945

57,036
1,231
1,259
488
1,311

32
23
24
7
160

10,847
179
203
44
104

3,439
166,894
1,848
12,515
12,358

1,230
43,828
403
11,412
9,993

2,209
123,066
1,445
1,103
2,365

2,670
75.756
849
2,987
1,942

1,368
14,340
136
2,862
1,620

1,302
61,416
713
126
322

1,948
51,291
274
2,412
1,278

986
10,133
136
2,388
1,164

962
41,159
138
24
114

11
75

81
9,524
10
9
25

33,299
11,057
26,041
4,179
8,346

31,771
8,687
2,964

1,528
2,370
23,077
4,179

14,131
3,725
10.756
1,538
2,006

13,445
3,375
629

686
350
10,127
1,538

9,722
3,445
4,908
935
1,458

9,429
3,259
511

293
186
4,397
935

256

26,898
3,212

18,739

8,159
3,212

9,512
2,033

5,966

3,545
2,033

7,188

5,096

2,092
202

54

Iowa..................
Kansas..............
Kentucky.........
Louisiana..........
Maine................

Oregon. . . . . . . .
Pennsylvania.. .
South Carolina.
South Dakota. .
Tennessee.........

8
5
3
47
5
5
1

39
26
7
29
4
11

2

29

2

23
12

Texas................
Vermont...........
Virginia............
Washington. . . .
West Virginia. .

24
3
8

Wisconsin.........
Wyoming..........

31

1

3
1

23

928
2.650
1.651

8,346’

160
818
334

2,006

668

202

139
640
257

1,458

7,982
3,101

3
33
29
207
39

791’
384

1,071
492
2,126

46
5
44

113
72
201

10

13
33

2,346
2,374
1,564
6,151

646
454

2
17
5
85
6
20

' ’ 26
28
21

11

371
1,030
760

77
21

44
22

505
512
407
19

1 Adjusted to December 31, 1963.
2 Excludes $ 1 3 2 thousand of non-recoverable insurance expenses in cases which were resolved without payment of claims or a disbursement to facilitate assumption of deposits by
another insured bank, and other expenses of field liquidation employees while pending assignments.
3 Number of deposit accounts.
4 Includes estimated additional disbursements in active cases.
i—
*
5 Excludes excess collections turned over to banks as additional purchase price at termination of liquidation.
6 These disbursements are not recoverable by the Corporation; they consist almost wholly of field payoff expenses.
7 Includes advances to protect assets and liquidation expenses of $ 4 7 ,2 9 3 thousand, all of which have been fully recovered by the Corporation, and $ 2 1 4 thousand of non-recoverable
expenses.
8 Disbursement totals for each year relate to cases occurring during that year and may thus contain some amounts disbursed in subsequent years.
9 Less than $500.

Note: Due to rounding differences, components may not add to total.




DISBURSEM ENTS

New Y ork........
North Carolina.
North Dakota. .
Ohio..................
Oklahoma.........

5

2

’ ‘9,710'

(9)

91
48
138

INSURANCE

Missouri............
Montana..........
Nebraska..........
New Hampshire
New Jersey. . . .

1

11,989
2,891
17,649

1

8
34

DEPOSIT

Maryland.........
Massachusetts..
Michigan..........
Minnesota........
Mississippi........

23
3

37,919
17,457

995
144
861

00

Table 124.

D

is b u r s e m e n t s by t h e

The First State Bank of Westmont,
Illinois,
Westmont, Illinois

NM

8,393

Chatham Bank of Chicago,
Chicago, Illinois

NM

27,870

Date of closing

e p o s it

I n s u r a n c e C o r p o r a t io n D

First payment to
depositors

Disburse­
ment2

June 4, 1963

August 23, 1963

Federal Deposit
Insurance Corporation

13,789,376

Federal Deposit
Insurance Corporation

September 4, 1963

Liabilities and capital accounts3

267

Other
securities

Loans,
discounts,
and
overdrafts4

Banking
house,
furniture &
fixtures

Other
real
estate

$16,736,971

$183,672

$85,000

$4,205,049

$3,823,849

$118,800

2,615,732

2,167,645

85,000

1,281,639

40,181

1,589,317

1,656,204

33,800

15,455,332

143,491

Other
assets5

$1,025,764

Total

Deposits

Other
liabilities

Capital
stock

$26,179,105

$23,440,398

$325,410

$766,625

$1,646,672

865,111
85,000

7,055,308

6,658,730

57,547

50,000

289,031

160^653

19,123,797

16,781,668

267,863

716,625

1,357,641

1 At date of closing.
2 To December 31, 1963, plus estimated additional disbursements.
3 As determined by FDIC agents after adjustment of books of bank for liabilities or overdrafts discovered subsequent to closing.
4 Some or all of the items in case number 267 in the aggregate amount of $3,698,751 include simulated loan transactions involving officers
6 In case number 266 includes assets valued at $821,813 the ownership of which is now in litigation.




Other
capital
accounts

or directors of the bank or their interests .

CORPORATION

Deposit
payoff
266

U. S. Gov­
ernment
obligations

Receiver or Liquidating Agent

INSURANCE

Total

Cash and
due from
banks

1963

$ 5,457,983

May 24, 1963

Assets3
Case
number

u r in g

DEPOSIT

Number of
depositors1

Name and location

F ederal D

FEDERAL

267

e q u ir in g

Class of
bank

Case
number
Deposit
payoff
266

I nsured B a n k s R

lam e

1Z D .

ItECOVERIES AND BOSSES BY THE FEDERAL JJEPOSIT INSURANCE CORPORATION ON

P r in c ip a l D i s b u r s e m e n t s for P r o t e c t io n o f D e p o s it o r s ,

1934-1963

(Amounts in thousands of dollars)
Liquidation
status and
year of de­
posit payoff
or
deposit
assumption

All cases

Deposit payoff cases

Re­
coveries Estimated
to Dec. additional
31, 19631 recoveries

22
425

84,235
243,992

64,180
218,624

14,570

25
69
75
74

941
8,890
14,781
19,160
30,480

734
6,184
12,326
15,611
28,055

67,770
74,134
23,880
10,825
7,172

60,617
70,237
23,290
10,137
7,048

1,503
1,768
265
1,724
2,990

1,462
1,768
265
1,620
2,349

2,552
3,986
1,885
1,369
5,017

1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.

1939.
1940.
1941.
1942.
1943.

60
43
15

1944.
1945.
1946.
1947.
1948.

2

1949.
1950.
1951.
1952.
1953.

4
4

20

5
1
1

5
3

2

3

2

119

Number
of
banks

30,853

265

130,153

98,218

14,144

17,791

182

198,074

184,586

426

5,485
25,368

11
254

34,702
95,451

17,269
80,949

14,144

3,289
14,502

11

171

49,533
148,541

46,911
137,675

426

24
42
50
50

941
6,026
8,056
12,045
9,092

734
4,274
6,595
9,520
7,908

207
1,751
1,460
2,524
1,184

27
25
24

2,865
6,725
7,116
21,387

1,910
5,730
6,090
20,147

7,153
3,778
591

32
19

26,196
4,895
12,278
1,612
5,500

20,399
4,313
12,065
1,320
5,376

5,798
582
213
292
123

28
24
7
14

41,574
69,239
11,602
9,213
1,672

40,219
65,924
11,225
8,816
1,672

404

363

40

1
1
1

1,099
1,768
265
1,724
2,990

1,099
1,768
265
1,620
2,349

2,552
3,986
1,885
1,369
5,017

2,183
2,601
1,792
577
5,017

913
2,346
538

650
2,346
538

230

47

688

1

1

30

74
641

5
3

2,183
2,601
1,792
577
5,017

91

369
1,385
3
792

4
4

913
6,784
3,333
1,031
3,026

650
6,554
2,985
1,031
2,776

‘ 84'

1,835
4,765
6,202

1,722
4,765
4,371

235

19,247

4,077

13,791

2

210

261
230
265

2

3

2
4,438
2.795
1,031
2.796

4,208
2,447
1,031
2,729

1,596

1,835
4,765
6,202

1,722
4,765
4,371

235

19,247

4,077

13,791

Losses2

2,196
10,866
953
995
1,025
1,241

119

1,355
3,195
378
396

30

74
641

91

369
1,385
3
792
261

1,596

1,380

2

Re­
Principal coveries Estimated
disburse­ to Dec. additional
ments4 31, 19631 recoveries

DISBURSEM ENTS

14,570

Losses2

INSURANCE

282,804

Estimated
additional
recoveries

DEPOSIT

328,227

Re­
coveries
to Dec.
31,1963

40

447

Status
A ctive........
Terminated.
Year
1934........
1 9 3 5 .....
193 6
193 7
193 8

Principal
disburse­
ments3

123

Principal
disburse­
ments

Number
of
banks

207
2,704
2,455
3,550
2,425

Number
of
banks

Total.

Deposit assumption cases

1,380

40
105

84
27

230
265
40

1
1

183

105

00

Excludes in deposit assumption cases recovery of all advances for asset protection, totaling $32,869 thousand, and all liquidation expenses totaling $14,424 thousand.
Includes estimated losses in active cases. Not adjusted for interest or allowable return, which was collected in some cases in which the disbursement was fully recovered.
Includes estimated additional disbursements in active cases.
* Excludes excess collections turned over to banks as additional purchase price at termination of liquidation.

1
2
3

Note: Due to rounding differences, components may not add to totals.




co







INDEX




I

n d e x

Absorptions:

Page

Of insured banks requiring disbursements by the Corporation.

See

Banks in financial difficulties.
Of operating banks, 1963 ..........................................................................................

60

Of operating banks approved by the Corporation, 1963............................... 82-115
Regulation

o f.................................................................................................................

6-8

Admission of banks to insurance :
Applications for, 1963 ............................................................................................

6-7

Different methods followed ...................................................................................

3

Number of banks admitted, by class of bank, 1963........................................

116

Applications from banks ..................................................................................................

6-8

Areas outside continental United States, banks and branches located in:
Assets and liabilities, December 20, 1963.......................................................... 134-135
Average assets and liabilities, insured commercial banks, 1963...................146-147
Deposits, December 20, 1963................................................................................... 126-127
Earnings, expenses, profits, and dividends, 1963..............................................164-165
Number, December 20, 1963...................................................................126-127, 134-135
Number, December 31, 1963...................................................................................

118

Assessments for deposit insurance .....................................................................14-18, 21-23
Assets, liabilities, and capital of banks (see also Deposits):
All banks:
Amounts by type and supervisory status, December 20, 1963..........

56-57

By F D IC district and State, December 20, 1963....................................134-135
Capital ratios by type and supervisory status, December 20, 1963..

58

In banks grouped according to insurance status and type of bank,
June 29, and December 20, 1963.................................................................130-133
Major categories, amounts and ratios, 1961-1963 ...................................

61

Percentage changes, each year, 1961-1963..................................................

62

Percentage changes in total deposits, June 30, 1961 to June 29,
1963 ................................................................................................................... 65, 68-69
Commercial banks, June 29, and December 20, 1963..................................... 130-133
Percentage changes in total deposits and in loans, June 30, 1961 to
June 29, 1963 ................................................................................................ 66, 70-71
Insured banks, call dates, June 30, 1961, through December 20, 1963. .. .136-139
Insured commercial banks:
Amount, call dates, September 28, 1962, through December 20,
1963

.....................................................................................................................140-143

Average for 1963, by class of bank.................................................................

144

Average for 1963, by State............................................................................... 146-147
Percentage distributions, average for 1963, by class of bank...............




187

144

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

188

Page
Assets, liabilities, and capital of banks (see also Deposits)— Continued:
Insured commercial banks— Continued:
Percentage distributions, call dates, September 28, 1.962, through D e­
cember 20, 1962 ..............................................................................................140-143
Percentage distributions of totals among size groups of banks, De­
cember 20, 1963 .............................................................................................. 76, 145
Ratio of selected items to total assets, by size of bank, December
20, 1963 ...............................................................................................................148-149
Insured mutual savings banks:
Amount, and percentage distributions, call dates, September 28,
1962, through December 20, 1963 ...............................................................140-143
Major categories, average, 1955-1963..........................................................

175

Mutual savings banks:
Banks grouped by insurance status, June 29, and December 20,
1963 .............................................................................................. ...................... 130-133
Percentage changes in total deposits and in loans, June 30, 1961
to June 29, 1963............................................................................................66, 70-71
Sources of data ................................................................................................ 129, 151, 179
Assets and liabilities of the Federal Deposit Insurance Corporation.......... 14-15, 21
Assets pledged to secure bank obligations.................................................................139, 143
Assets purchased by the Federal Deposit Insurance Corporation from banks
in financial difficulties ........................................................................... 5, 179, 183
Assumption of deposits of insured banks with financial aid of the Corpora­
tion (see also Banks in financial difficulties)...................4-5, 179-181, 183
Attorney General of the United States, summary reports on absorptions.. . 82-115
Audit of the Federal Deposit Insurance Corporation............................................

19-23

Bad-debt reserves. See Valuation reserves.
Bank supervision. See Supervision of banks; Examination of insured banks.
Banking offices, number of. See Number of banks and branches.
Bank practices. See Unsafe and unsound banking practices.
Banks, applications from, acted on by the Federal Deposit Insurance Cor­
poration ...................................................................................................................

6-7

Banks in financial difficulties:
Insured banks requiring disbursements by the Corporation:
Deposit size o f ......................................................................................................

180

Deposits protected, 1934-1963........................................................ 3-5, 28, 180-181
Disbursements by the Corporation, 1934-1963.......................5-6, 23n, 179-183
Loans made and assets purchased by the Corporation.......................

5

Location by State, 1934-1963.........................................................................

181

Losses incurred by the Corporation............................................4-6, 29-30, 183
Losses incurred by depositors...................................................................4-5, 29-30
Name and location of, 1963 .............................................................................




3

189

IN D E X

Page
Banks in financial difficulties— Continued:
Insured banks requiring disbursements by the Corporation— Continued:
Number of, 1934-1963 ........................................................................................5, 27-29
Number of deposit accounts, 1934-1963 ............................................4-5, 180-181
Proportion of banks closed in relation to operating banks...................

30-31

Recoveries by the Corporation on assets acquired, 1934^-1963.......... 5-6, 183
Insured banks closed not requiring disbursements by the Corporation,
1934-1962

...................................................................................................................

42

Noninsured banks:
Deposits of commercial banks closed, by year, 1934-1962...............27-28, 32
List of banks closed, by State, 1934-1962 ..................................................

36-40

Losses incurred by depositors, by year, 1934-1962............................... 29-30, 32
Proportion of closed in relation to operating banks, by insurance
status, 1934-1962 ............................................................................................

30-31

Results of liquidation of noninsured commercial banks closed,
by year ................................................................................. .. ........................

32-34

Results of liquidation of noninsured commercial banks closed,
...........................................................................................................

33-34

Sources of data ..........................................................................................................

by State

179

Suspensions, 1963 ........................................................................................................

116

Suspensions of noninsured banks, 1934-1963................................................ 27-29, 179
Banks, number of. See Number of banks and branches.
Banks operating branches, December 31, 1963........................................................ 118-125
Board of Directors of the Federal Deposit Insurance Corporation. See Fed­
eral Deposit Insurance Corporation.
Board of Governors of the Federal Reserve System. See Federal Reserve
Authorities.
Branches (See also Number of banks and branches):
Establishment approved by Federal Deposit Insurance Corporation,
..............................................................................................................................

6-7

Examination of, 1962 and 1963...............................................................................

1963

9

Increase, branches of all banks, 1961-1963............................................................ 60, 117
Business and personal deposits. See Deposits (items referring to type of
account).

Call reports. See assets, liabilities, and capital of banks; Reports from banks.
Capital of banks. See Assets, liabilities, and capital of banks; Banks in finan­
cial difficulties; Income of insured commercial banks; Examina­
tion of insured banks.
Charge-Offs by banks. See Income of insured commercial banks; Income
of insured mutual savings banks; Valuation reserves.
Class of bank, banking data presented b y:
Admissions to and terminations of insurance . . .




116

190

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Page
Class of bank, banking data presented by— Continued:
Assets and liabilities of all banks.................................................................56, 130-133
Deposits, December 20, 1963....................................................................................

57

Income of insured commercial banks, 1963........................................................ 156-157
Insured banks requiring disbursements by the Corporation, 1934-1963..

180

Number of banks and banking offices, 1963................................................55, 116-125
Ratios of income of insured commercial banks, 1963....................................158-159
Classification of banks ............................................................................................56-57, 80-81
Closed banks. See Banks in financial difficulties.
Commercial banks. See Assets, liabilities, and capital of banks; Deposits;
Income of insured commercial banks; Number of banks and
branches.
Comptroller General of the United States.................................................................

19-23

Comptroller of the Currency........................................................ iv, v, 3, 7, 12, 56, 129-151
Consolidations. See Absorptions.
Coverage of deposit insurance, banks participating...................

........ 3, 116-125

Credit, bank. See Assets, liabilities, and capital of banks.

Demand deposits. See Assets, liabilities, and capital of banks; Deposits
(items referring to type of account).
Deposits:
All banks:
By insurance status of bank and type of account, December 20,
1963 ................................................................................................ .. ..................

133

By insurance status of bank and type of account, June 29, 1 9 6 3 ....

131

By supervisory status and insurance status, December 20, 1 9 6 3 ....

57

By type of account in each State and F D IC district, December
20, 1963 ...............................................................................................................134-135
By type of bank and insurance status, December 20, 1963...............

57

By type of bank in each State and F D IC district, December 20,
1963 ....................................................................................................................... 126-127
Percentage change, 1961-1963 .......................................................................
Percentage changes in total deposits,

June 30,

1961

to

62-63

June

29, 1963:
By insurance status and type of bank..............................................

65

By F D IC district .......................................... ...........................................

68

By population of center in which located........................................

69

All insured banks:
By type of account, December 20, 1963....................................................

133

By type of account, call dates, June 30, 1961, through December
20, 1963 ...............................................................................................................

138

Ratios of deposit insurance fund to, 1934-1963........................................15n, 19




191

IN D E X

Page
Deposits— Continued:
Commercial banks:
By FD IC district and State, December 20, 1963....................................126-127
By type of account, December 20, 1963....................................................

133

By type of account, June 29, 1963.................................................................

131

By insurance status, 1934-1962 .......................................................................

31-32

Percentage changes in total deposits, June 30, 1961 to June 29, 1963:
By amount of deposits.............................................................................

66

By ratio of demand deposits to total deposits...............................

70

Percentage changes in total deposits and in loans, June 30, 1961
to June 29, 1963 ..............................................................................................

71

Insured banks requiring disbursements by the Corporation. See Banks
in financial difficulties.
Insured commercial banks:
Amount, by type of account, call dates, September 28, 1962, through
December 20, 1963 ..........................................................................................

142

Percentage distributions of selected totals among size groups of
banks, December 20, 1963.............................................................................

145

Insured mutual savings banks:
By F D IC district and State, December 20, 1963................................... 126-127
By type of account, call dates, September 28, 1962, through Decem­
ber 20, 1963 ......................................................................................................

142

Interest and dividends on, 1955-1963............................................................

174

Mutual savings banks:
By FD IC district and State, December 20, 1963................................... 126-127
By type of account, June 29, and December 20, 1963........................... 131, 133
Percentage changes in total deposits, by amount of deposits, June
30, 1961 to June 29, 1963 .............................................................................

67

Percentage changes in total deposits and in loans, June 30, 1961
to June 29, 1963 ..............................................................................................

72

Noninsured banks:
By FD IC district and State, December 20, 1963........................................126-127
By type of account and type of bank, June 29 and December 20,
1963

.....................................................................................................................131, 133

Operating commercial banks, 1934-1962....................................................

31-32

Sources of data .............................................................................................................

129

State legislation ..........................................................................................................

48-49

Deposits, insured by FD IC, 1934-1963.........................................................................

19

Directors of the Federal Deposit

Insurance Corporation. See

Federal

Deposit Insurance Corporation.
Disbursements. See Banks in financial difficulties.
Dividends:
To depositors in insured mutual savings banks. . . .




. . . . 76-77, 174, 176-177

192

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Dividends— Continued:
To stockholders of insured commercial banks. See Income of insured
commercial banks.
Earnings of banks. See Income of insured commercial banks; Income of
insured mutual savings banks.
Educational program for bank examiners. . . .

13

Employees:
Federal Deposit Insurance Corporation. . .

12-13

Insured commercial banks:
Distribution by deposit size of bank, 1963................................................

76

Number and compensation, 1955-1963........................................................ 152-155
Number and compensation, by class of bank, by size of bank, and
by State, 1963.................................................................156-157, 160-161, 164-173
Insured mutual savings banks, number and compensation........................... 174-175
State legislation ..................................................................................................

51

Examination of insured banks:
Banks examined by the Federal Deposit Insurance Corporation, 19621963

.....................................................................................................................9, 56-57

Examination school

..................................................................................................

13

Examination staff .................................................................................................. vi, vii, 13
Powers granted to supervisory authorities........................................................

55-57

Expenses of banks. See Income of insured commercial banks; Income of
insured mutual savings banks.
Expenses of the Corporation.....................

....1 4 , 16, 11, 22

Failures. See Banks in financial difficulties.
Federal bank supervisory authorities.................................................................6-10, 55-58
Federal Deposit Insurance Act. (see also Legislation relating to deposit in­
surance and banking).............................................................................

15n

Federal Deposit Insurance Corporation:
Assessments on insured banks............................................................................. 14-18, 23
Assets
Audit

........................................................................................................................... 14-15, 21
...............................................................................................................................

19-20

Banks examined by, and submitting reports t o ................................................9, 55-57
Board of Directors, actions on applications and banking practices. . . .

6-10

Borrowing power ......................................................................................................

15n

Capital stock

15n

..............................................................................................................

Coverage of deposit insurance, banks participating...................3, 31, 55, 116-125
Deposit insurance fund (surplus).....................................................................15n, 16-23
Directors (members of the Board).......................................................................

v, 12

Disbursements for protection of depositors........................................3-6, 28, 179-183
Districts
Divisions




.........................................................................................................................

vi-vii

.................................................... ........................................................

iv, 13

193

IN DEX

Page
Federal Deposit Insurance Corporation— Continued:
Educational program for bank examiners........................................................
Employees

.....................................................................................................................

13
12-13

Examination of banks................................................................................. vi-vii, 9, 55-57
Financial statements ..................................................................................................

21-23

Income and expenses, 1933-1963.............................................................................

16-18

Income and expenses, 1963................................................................................. 14, 16, 22
Insured banks requiring disbursements by. See Banks in financial diffi­
culties.
Liabilities

...................................................................................................................14-15, 21

Loans to and purchase of assets from insured banks........................... 5-6, 179-181
Losses incurred, 1934-1963.................................................................4-6, 18, 29-30, 183
Methods of protecting depositors.....................................................................5, 179-182
Organization and staff........................................................................................iv-vi, 12-13
Payments to insured depositors.............................................................................

4-5

Protection of depositors ................................................................................. 3-6, 180-181
Recoveries ...............................................................................

...................5-6, 183

Reports from banks ..................................................................................................

10

Reserve for losses on assets acquired.....................................................................

5-6

Retirement of capital stock of the Corporation................................................

15n

Rules and regulations ..............................................................................................

11, 45

Sources and uses of funds..........................................................................................

16-17

Supervisory activities..........................................................................................6-10, 55-58
Federal Deposit Insurance Corporation districts, banking data classified by:
All banks:
Assets and liabilities, December 20, 1963................................................

134

Number and deposits, by type of bank, December 20, 1963...................

126

Federal Reserve authorities........................................................................... 3, 7, 56, 129, 151
Federal Reserve member banks. See class of bank, banking data presented
by.
General Accounting Office ..............................................................................................

19

Government deposits. See Deposits (items referring to type of account).
Income of the Federal Deposit Insurance Corporation ..

. . . 14, 16-18, 22

Income of insured commercial banks:
Amounts of principal components:
Annually, 1955-1963

..........................................................................................152-153

By class of bank, 1963........................................................................................156-157
By size of bank, 1963 ....................................................................................... 160-161
By State, 1963 ...................................................................................................... 164-173
Charge-offs and recoveries, 1955-1963...................................................................152-153
Income, sources and disposition of total, 1961-1963........
Profits, 1955-1963




74-75
..152-153

194

FEDERAL DEPOSIT IN SU RAN CE CORPORATION

Page
Income of insured commercial banks— Continued:
Profits, 1963 .......................................................................

. . . 156-157, 160-161

Rates of income on assets, 1955-1963.........................

...............154-155

Rate of net profit on total capital accounts, 1 9 63 ...

. . . 154, 159, 163

Ratios of income items:
Annually, 1955-1963

............................................

. . . 154-155

By class of bank, 1963..................................................

. . . 158-159

By size of bank, 1963........................................................

.. .162-163

Sources and disposition of total, 1961-1963..............................................

75

Ratios of expense items.......................................................... 75, 154, 158-159, 162-163
Revision of report of income and dividends....................................................
Selected operating ratios, 1961-1963.................................................................
Sources of data ..............................................

...................

151
75
151

Income of insured mutual savings banks:
Amounts of principal components, 1955-1963..............

. . . 174-175

Income, sources and disposition of total, 1961-1963. . .
Rates of income on assets, 1955-1963...............................

76-77
.........................

177

Ratios of income items........................................................................................77, 176-177
Ratios of expense item s......................................................................................77, 176-177
Sources of data...............................................................................................................

151

Insolvent banks. See Banks in financial difficulties.
Insurance of bank obligations................................................

. . .3, 18-19

Insurance status, banks classified by:
Assets and liabilities, June 29 and December 20, 1963............................. 56, 130-133
Capital ratios ...............................................................................................................

58

Changes in number, 1963..........................................................................................116-117
Deposits, June 29 and December 20, 1963..................................... 126-127, 131, 133
Number, December 31, 1963............................................................................. 55, 118-125
Number, December 20, 1963 ....................................................................................126-127
Percentage of banks insured, by State, December 31, 1963.......................118-125
Insured banks. See Assets, liabilities, and capital of banks; Banks in financial
difficulties; Deposits; Income of insured commercial banks; In­
come of insured mutual savings banks; Number of banks and
branches.
Insured commercial banks not members of the Federal Reserve System. See
Class of bank, banking data presented by.
Insured deposits. See Banks in financial difficulties; Coverage of deposit in­
surance, banks participating.
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 Income of insured commercial banks; Income of insured mutual
savings banks.




195

IN D E X

Page
Investments. See Assets, liabilities, and capital of banks; Assets and liabilities
of the Federal Deposit Insurance Corporation; Banks in financial
difficulties.
Law, violations of by insured banks............................................

.. 9-10

Legislation relating to deposit insurance and banking:
Federal, enacted in 1963.............................................................................................. 11, 45
Relating to bank supervision......................................................................................

47

State, enacted in 1963 .................................................................................................... 47-52
Loans. See Assets, liabilities, and capital of banks; Banks in financial diffi­
culties.
Losses:
Of banks, charged off. See Income of insured commercial banks; Income
of insured mutual savings banks.
Of the Federal Deposit Insurance Corporation.........................5-6, 11, 29-30, 183
Provision for, in insured banks, 1955-1963........................................152-153, 174-175

Mergers. See Absorptions.
Methods of tabulating banking data:
Assets and liabilities of banks....................................................................................

129

Deposit insurance disbursements.........................................................................

179

Income of insured banks..............................................................................................

151

Number, offices, and deposits of banks................................................................. 80-81
Mutual savings banks. See Assets, liabilities, and capital of banks; Deposits;
Income of insured mutual savings banks; Number of banks and
branches.

National banks. See Class of bank, banking data presented by.
New banks, 1963 .................................................................................................... 58, 60, 116-117
Noninsured banks. See Absorptions; Admission of banks to insurance; Assets,
liabilities, and capital of banks; Banks in financial difficulties;
Classification of banks; Class of bank, banking data presented b y ;
Deposits; Number of banks and branches; Reports from banks.
Number of banks and branches:
Banking offices (banks and branches):
By insurance status, type of bank, and State, December 31, 19 63 ... .118-125
Changes during 1963............................................................................................58, 117
Banks:
By insurance status, operating commercial banks, 1934-1962...............

31-32

By insurance status and type of bank, December 31, 1963...................55, 116
By insurance status and type of bank, December 20, 1963...................

133

By insurance status and type of bank, June 29, 1962...............................

131

By insurance status, type of bank, and State, December 31, 1963.. .118-125




196

FEDERAL DEPOSIT IN SU R AN C E CORPORATION

Number of banks and branches— Continued:

Page

Banks— Continued:
By percentage changes in total deposits, June 30, 1961 to June 29,
1963

.......................................................................................................................

64

By percentage changes in total deposits, and by insurance status and
type of bank, June 30, 1961 to June 29, 1963 ............................................

65

By percentage changes in total deposits, and by F D IC district, June
30, 1961 to June 29, 1963.................................................................................

68

By percentage changes in total deposits, and by population of center
in which located, June 30, 1961 to June 29, 1963...................................

69

By insurance status, type of bank, F D IC district and State, Decem­
ber 20, 1963.........................................................................................................126-127
Changes during 1963, by type of bank...........................................................60, 116
Operating branches, by insurance status and State, December 31,
1963

..................................................................................................................... 118-125

Branches:
By insurance status, type of bank, and State, December 31, 1963.. .118-125
Changes in, during 1963 ............................................................................. 58, 60, 117
Number of, 1963 ............................................................................................ 60, 117-125
Commercial banks:
By percentage changes in total deposits, and by amount of deposits,
June 30, 1961 to June 29, 1963.....................................................................

66

By percentage changes in total deposits, and by ratio of demand de­
posits to total deposits, June 30, 1961 to June 29, 1963.......................

70

By percentage changes in total deposits and in loans, June 30, 1961
to June 29, 1963..................................................................................................

71

Changes during 1961, 1962, and 1963...............................................................

60

Insured commercial banks:
December 31, 1955-1963......................................................................................153-155
December 31, 1963 by class, deposit size of bank, or State
76, 157, 161, 165, 167, 169, 171, 173
Distributed by capital ratios and distribution of assets, December
20, 1963 ...........................................................................................................148, 149
Insured mutual savings banks, 1955-1963............................................................ 175-177
Mutual savings banks, December 31, 1963.................................................. 55, 116-125
Mutual savings banks, December 31, 1961, 1962, 1963......................................

60

Mutual savings banks, December 20, 1963........................................................ 126-127
Mutual savings banks:
By percentage changes in total deposits, and by amount of deposits,
June 30, 1961 to June 29, 1963.......................................................................

67

By percentage changes in total deposits and in loans, June 30, 1961
to June 29, 1963..................................................................................................

72

Noninsured banks:
Noninsured banks, December 31, 1963. . .




. . .116-125

INDEX

197
Page

Number of banks and branches— Continued:
Noninsured banks— Continued:
Noninsured banks, December 20, 1963

..

Trust companies, December 31, 1963.

55, 116-125

Trust companies, December 20, 1963.

...1 2 6 -1 2 7

126-127

Unit banks, by insurance status and State, December 31, 1963. .. .118-125
Obligations of banks. See Assets, liabilities, and capital of banks; Deposits.
Officers of insured banks. See Employees.
Officers of the Federal Deposit Insurance Corporation.

v, 12-13

Operating banks. See Number of 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.
Protection of depositors. See Banks in financial difficulties.
Public funds. See Deposits (items referring to type of account).
Receivership, insured banks placed in. See Banks in financial difficulties.
Recoveries:
By banks on assets charged off. See Income of insured commercial banks;
Income of insured mutual savings banks.
By the Corporation on disbursements. See Banks in financial difficulties.
Reports from ban k s...

......................................................

.....................10 ,27

Reserves:
Of Federal Deposit Insurance Corporation, for losses on assets acquired. .

16

Of insured banks for losses on assets. See Valuation reserves.
With Federal Reserve banks. See Assets, liabilities, and capital of banks.
Salaries and wages:
Federal Deposit Insurance Corporation........ ........................................................

16

Insured banks. See Income of insured commercial banks; Income of in­
sured mutual savings banks.
Savings and time deposits. See Deposits (items referring to type of account).
Securities. See Assets, liabilities, and capital of banks; Assets and liabilities
of the Federal Deposit Insurance Corporation; Banks in financial
difficulties.
Size of bank, data for banks classified by amount of deposits:
Assets and liabilities, insured commercial banks, 1963.....................

. . . 145

Banks requiring disbursements by the Corporation, 1934-1963....
Disbursements for protection of depositors, 1934-1963....
Income data of insured commercial banks, 1963...................




180
...

180

.. .160-161

198

FEDERAL DEPOSIT IN SU R AN C E CORPORATION

Page
Size of bank, data for banks classified by amount of deposits— Continued:
Income ratios of insured commercial banks, 1963................................. 75, 162-163
Number of employees of insured commercial banks, 1963...........................76, 161
Number of insured commercial banks, 1963..............................................76, 161, 163
Number of insured commercial banks grouped by ratios of selected items
to assets, December 20, 1963....................................................................... 148-149
Percentages of selected totals, insured commercial banks, 1963 .................

76

State bank supervisory authorities:
Chartering and regulation of banks b y .................................................................

47

Data obtained from .................................................................................................... 27, 129
Number of banks supervised b y .............................................................................

55-57

State legislation regarding........................................................................................

47

State, banking data classified b y :
Assets and liabilities of banks, December 20, 1963..........................................134-135
Deposits of banks, by class of bank, December 20, 1963............................... 126-127
Disbursements, deposits, and depositors in insured banks requiring dis­
bursements by the Corporation, 1934-1963..............................................

181

Income of insured commercial banks, 1963...................................................... 164^173
Number of banks and branches, by class of bank and type of office, De­
cember 31, 1963.................................................................................................. 118-125
Number of banks and branches, by class of bank and type of office, De­
cember 20, 1963................................................................................................ 126-127
Percentage of banks insured, December 31, 1963..............................................118-125
State banking legislation enacted in 1963...................................................................

47-52

State banks. See Class of bank, banking data presented by.
Stockholders of banks, net profits available for. See Income of insured com­
mercial banks.
Summary of this report......................................................................................

xv

Supervision of banks (see also Examination of insured banks):
By the Federal Deposit Insurance Corporation.......................vi-vii, 6-10, 55-58
Federal and State supervision...............................................................................

55-58

State legislation, 1963................................................................................................

47-^52

Suspensions. See Banks in financial difficulties.

Taxes paid by insured banks. See Income of insured commercial banks;
Income of insured mutual savings banks.
Terminations of insurance for unsafe and unsound practices.............................

9-10

Time and savings deposits. See Deposits (items referring to type of account).
Trust companies, classification o f ............................................................................... 55, 80-81
Trust powers:
Applications for ...........................................................................................................
State legislation .............................................................................................................




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Unit banks, by insurance status and State, December 31, 1963. .

.118-125

Unsafe and unsound banking practices..............................................

9-10

Valuation reserves (see also Assets, liabilities, and capital of banks):
Amounts held, call dates, June 30, 1961, through December 20, 1 9 63 . . . .

137

Amounts held, June 29 and December 20, 1963........................................130, 132, 141
Changes, 1955-1963 ................................................................................... 152-153, 174-175
Violations of law or regulations, banks charged with..............................................




9-10





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102