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F R e d e r a l e s e r v e B a n k OF DALLAS Dallas, Texas, February 24,1960 CONDITIO N AND EARNINGS OF MEMBER BANKS ELEVENTH FEDERAL RESERVE DISTRICT T o t h e M e m b e r E le v e n t h B a n k s in t h e F e d e r a l R e s e r v e D is t r ic t : Assets of member banks in the District rose $167 million in 1959, reaching a new high of $11.8 billion on December 31. The annual increase of 1.4 percent compared with a gain of 9.4 percent in 1958. Net earnings from current operations were almost 14 percent higher than in the previous year, but net profits were lower, partly as a result of losses on securities transactions. Asset expansion during 1959 stemmed principally from larger borrowings and addi tions to capital accounts. Deposits rose only nominally, as an advance in time deposits was almost offset by a year-to-year decline in demand balances. Although less than 1 percent above the deposit level for December 31, 1958, total deposits of $10.7 billion at the end of 1959 represented a record high. Loan demand was strong during 1959, and member banks added $249 million to gross loan accounts. Most of this gain was concentrated in consumer loan and business loan categories. Moderate investment liquidation was required to finance the loan expansion. Total investments declined $75 million, although a somewhat larger decrease occurred in holdings of Government securities. The ratio of loans to deposits on December 31, 1959, was 45.5 percent, compared with 43.3 percent a year earlier. Yours very truly. Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) COMPARATIVE STATEMENT OF CONDITION OF MEMBER BANKS ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) October 6, 1959 ]December 31, 1958 4,856,930 . 2,594,509 . 700,798 . 173,752 8,325,989 3,145,213 11,799,566 6,106,156 1,804,599 4,744,362 2,469,212 698,467 163,827 8,075,868 2,714,973 11,061,300 5,816,201 1,784,418 4,617,590 2,711,203 644,179 188,644 8,161,616 3,189,959 11,632,620 6,197,784 1,724,067 216,626 923,522 1,458,679 158,512 Other deposits___________________________ TOTAL DEPOSITS _________________________ 10,668,094 909,149 TOTAL CAPITAL ACCOUNTS_______________ 8,650 Borrowings from Federal Reserve Bank_________ 41,638 All other borrowings________________________ 45.5% Ratio of loans to total deposits_________________ Ratio of cash and balances due from banks 29.5% to total deposits__________________________ Ratio of total capital accounts to risk assets (total 15.0% assets less Government securities and cash assets). 633 Number of banks________-__________________ 207,242 758,273 1,201,037 105,945 9,873,116 920,230 47,900 122,760 48.1% 170,914 936,054 1,459,943 171,123 10,659,885 849,568 750 0 43.3% 27.5% 29.9% 15.7% 635 14.8% 631 ' . December 31, 1959p Item Loans (net), including overdrafts. Other securities Cash and balances due from banksTOTAL ASSETS______________ Individual — Time deposits______________ Deposits of U. S. Government, including postal savingsDeposits of states and political subdivisions_____ p—-Preliminary. PRINCIPAL ASSET AND LIABILITY ITEMS OF MEMBER BANKS 1950-59 ELEVENTH FEDERAL RESERVE DISTRICT (In thousands of dollars) December 31 Total Deposits Total Loans (Net) Total Investments Total Loans (Net) and Investments Total U.S. Gov. Secs. Total Capital Accounts 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959p 7,198,467 7,742,798 8,191,531 8,556,257 9,140,693 9,488,708 9,803,404 9,701,443 10,659,885 10,668,094 2,406,188 2,570,429 2,856,931 3,099,116 3,477,039 3,951,231 4,020,769 4,163,708 4,617,590 4,856,930 2,643,066 2,768,680 2,872,876 2,886,575 3,156,508 2,943,022 3,071,467 3,098,982 3,544,026 3,469,059 5,049,254 5,339,109 5,729,807 5,985,691 6,633,547 6,894,253 7,092,236 7,262,690 8,161,616 8,325,989 2,274,935 2,362,881 2,446,220 2,427,003 2,642,771 2,368,923 2,455,219 2,397,877 2,711,203 2,594,509 418,483 464,027 516,276 558,071 606,478 680,996 736,433 798,713 849,568 909,149 p—Preliminary. COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF MEMBER BANKS ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) Item 1959p 1958 Net Change 1959 over 1958 Interest and dividends on securities_________________ Interest and discount on loans_____________________ Service charges on deposit accounts_________________ All other earnings____ TOTAL EARNINGS FROM CURRENT OPERATIONS... Salaries and wages______________________________ Taxes other than net income_______________________ All other expenses______________________________ TOTAL CURRENT OPERATING EXPENSES________ NET EARNINGS FROM CURRENT OPERATIONS___ Total recoveries, transfers from valuation reserves, and profits___________________________________ Total losses and charge-oifs, and transfers to valuation reserves_____________________________ Profits before income taxes________________________ Taxes on net income_____________________________ NET PROFITS Cash dividends declared^__________________________ Number of banks_______________________________ 95,817 269,390 20,120 39,157 424,484 108,470 20,719 139,759 268,948 155,536 85,811 236,898 17,995 37,363 378,067 101,820 18,892 120,580 241,292 136,775 10,006 32,492 2,125 1,794 46,417 6,650 1,827 19,179 27,656 18,761 9,697 19,610 -9,913 43,169 122,064 51,321 70,743 37,781 633 29,947 126,438 50,315 76,123 34,315 631 13,222 -4,374 1,006 -5,380 3,466 2 p—Preliminary. 1 Includes interest on capital notes and debentures. PRINCIPAL ITEMS OF EARNINGS AND EXPENSES OF MEMBER BANKS 1950-59 ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) Total Earnings from Current Operations Year 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959p 173,424 193,010 219,811 239,509 256,738 288,345 317,106 349,842 378,067 424,484 Total Current Operating Expenses 101,975 112,833 130,646 146,381 158,289 173,762 193,265 216,929 241,292 268,948 Net Total Total Earnings From Current Recoveries Losses and and Profits Charge-offs Operations 16,932 7,399 71,449 20,191 6,172 80,177 20,882 5,955 89,165 22,613 93,128 8,116 26,579 26,432 98,449 29,356 8,950 114,583 38,735 8,102 123,841 29,262 7,751 132,913 29,947 19,610 136,775 43,169 9,697 155,536 1 Includes interest on capital notes and debentures. p—Preliminary. Net Profits Cash Dividends Declared^ Number of Member Banks 41,995 39,393 41,058 41,878 58,264 54,874 56,548 67,309 76,123 70,743 15,081 17,531 20,006 21,157 22,973 26,771 29,473 31,577 34,315 37,781 630 633 634 635 632 634 634 634 631 633
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