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FEDERAL RESERVE statistical ''f^ALRE^V FF\ w ii 3!I BOARD OF GOVERNORS CF THE FEDERAL RESERVE SYSTEM (For Immediate Release) E*5 IOs. R February 21, 1963 MEMBER BANK EARNINGS* 1962 Preliminary figures on member bank earnings indicate; that 1 rc-6 /. i ,963 net current earnings before income taxes were $3*098 million; this was 1 BALIMOiJE $U5 million lower than in 1961* Net income after taxes wag”$1,-* lion, a decline of $23 million from last year; and the ratio of net income to average total capital accounts fell to 8*9 from 9-6. Gross current operating revenue increased $912 million or by about 10 per cent* Earnings on loans were $550 million and earnings on U« S* Government securities were $lU5 million larger than last year, as average holdings and rates of return rose* Total expenses were $956 million or 16 per cent greater than a year ago, largely resulting from an increase of $639 million in interest on time and savings de posits* The net effect of security transactions, other profit and loss adjustments, and changes in valuation reserves was a loss ©f $303 million, compared to $181 million in 1961* Provision for income taxes amounted to $l,10li million, $li|6 million less than last year* Cash dividends declared amounted to $828 million, represent ing a distribution of h9 per cent of net income after taxes and an approximate yield of 1^*3 per cent on average total capital accounts* (Over) MEMBER B A M INCOME, BY CLASS OF BANK, 19&2 AND 1961 (in millions of dollars. 1962 figures preliminary) •* /.! ••/ Item - Revenue On U. S. Government securities^. On loans l/ . All other y: Expenses ■>. 1 % 12 ? ■? 9,217 / 1,644' 1 ,082- .VI, 537 228: 5,870 ■Z i,Olf; 6,420 | 1 ,8 1 0 ;~ - 2,026 399. r r; 5- m / / / ■ Net current earnings before income taxes '* Recoveries, transfers frb®- valuation' reserves, and prof its ,_2/ •’ / '-■* Losses, charge-offs, and'transfers to valuation reserves 3/0 / ^ * s *r v! Net income before relate^ taxes-" .... i faxes on net income- ./ /’• -v *' Net income / ■/ " 1 Reserve city banks - i ;Neu;York -• /.Chicago’ 1961 ij 19&2 . 1 ■*1961 C 1962 All: member ba&ks -• 1962 i1963. ’: ! : ; ' / -to c: J ,0 3 $ 6,.0'?i* .j 3 ,09.3 0 3 ,1 *3 :1 v-' 389 ?: ' 692 ' ■* Cash dividends declared •/ Ratios (per-dent): . / > > Net current earnings before i'nccmd taxes tdraverage total capital/accounts/ Net income to average total oanital *“ ;; accounts /’ % Average return on U. S. Govt. isec&i Average return on loans *?• /• / ;a,io4 Z \ 8£8 :■' * •: 590 2.531* ’7l*9 2,690 2,365 798 2,620 2,365 667 788 712 2 ,331* 3,075 2,703 166 *■> 1,18 3 1,248 1,131 1,085 126 255 168 190 69 " 21*9 302 272 262 .. 155 ■- 1,059 1,201 1,026 1 ,01 / 448 533 366 381 ;• 188 634 643 r .. 69 125 ./ 191 ■’ • ; / / ■ 26 ’ .57 ; / 12T 175 j 1*3 2 >;962.:; 575 593 ; 133 241 257 * 49 33** 336 191 ... 182 " 1>712 f/ ' "'793/ r : ‘ 551 711 ;. .. -gee; Country banks 1961 1962 j 3,788 ;:2$5 - 1961 4,206 81*8 ;76 .. S3 79 : 6 11 668 66l 629 33 .31 331 321 272 257 i. r , 16.6 : I8.9 15-5 15 9 v l6,. 2 /•: /. V 8; 9 ■■ 3i 21 / S; 91 £ 17.5/ ;J. r'i *** f' 9.6.;.3-05 r 5.8!* : 3 16/9 17.8 16 ;.9 ' 19.8 / /■ 8 :9 9*3 ‘ 3.15 5 .17 7? 2.93 5 .073; 9.3 3.17 % 31* 17 Includes charges on loans other, than interest. V 2/ Does not include recoveries credited directly t-o valuation reserves'. 3/ Does not include losses charged directly to valuation reserves/ 3,583 1,010 1 1 2 5 0 :. 7l,6$9 33873 ; • 221 .. 73 b - . / 250 90; j 6 2 7 . 351* 60 ! "2,793 / £ ‘ 4o6 • Other 1962 | 215 918 358 ci; £ l '/ 1,1*92 • (over) 9.4 3 .1 1 5 .06rH —?--- 8.6 :■ 3.15 V 5.85 - 10.1 3.05 5.88 9.0 3-28 6.40 9.2 3.08 6.26
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