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F ederal Reserve Bank O F DALLAS Dallas, Texas, March 3,1961 CONDITION AND EARNINGS OF MEMBER BANKS ELEVENTH FEDERAL RESERVE DISTRICT To the Member Banks in the Eleventh Federal Reserve District: Total assets of the District member banks rose $535 million in 1960, reaching a new high of $12.3 billion on December 31, 1960, or 4.5 percent over the previous year. Net earnings from current operations were 8.9 percent above the prece(hng year; but net profits were 25.9 percent higher, largely as a result of a reduction in total losses and charge-offs and transfers to valuation reserves. The growth in assets during 1960 resulted primarily from an increase in loans and an expansion in holdings of United States Government securities. Individual demand deposits advanced 1 percent, while individual time deposits showed a 14-percent increase during the year. Total deposits rose 5 percent above a year earlier, attaining a new record of $11.2 billion on December 31, 1960. Lfoan demand was relatively strong in the early part of 1960 but weakened consider ably after midyear. Nevertheless, member banks added $303 million to gross loan accounts, which represented a 6-percent increase. This loan expansion was concentrated in business loans, loans for purchasing or carrying securities, and consumer-type loans. Moreover, with increased availability of reserves, especially in the final 6 months of the year, total investments rose $32.3 million. The ratio of loans to deposits on December 31,1960, was 45.9 percent, compared with 45.5 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) December 31, 1960p Item Loans (net), including overdrafts_______________ 5,153,613 U. S. Government obligations, direct and guaranteed 2,621,353 Obligations of states and political subdivisions___ 733,901 Other securities ______________________________ 146,588 TOTAL LOANS (NET) AND INVESTMENTS___ 8,655,455 Cash and balances due from banks_______ _______ 3,357,949 TOTAL ASSETS __ 12,336,254 Individual — Demand deposits___ -___ __________ 6,168,438 Individual ^ Time deposits ____________________ 2,052,448 Deposits of U. S. Government, including postal savings__________________ 212,128 Deposits of states and political subdivisions______ 1,034,106 Deposits of banks_____ ________________________ 1,597,645 Other deposits________________________________ 151,124 ....11,215,889 TOTAL DEPOSITS__ ___________ 973,457 TOTAL CAPITAL ACCOUNTS _______ 350 Borrowings from Federal Reserve Bank. 283 All other borrowings. ..... 45.9% Ratio of loans to total deposits________ Ratio of cash and balances due from banks 29.9% to total deposits. Ratio of total capital accounts to risk assets (total 15.3% assets less Government securities and cash assets) 632 Number of banks__________________________ October 3, December 31, 1959 1960 4,857,870 4.956.005 2,594,655 2,397,623 706,785 709,154 168,114 121,921 8,327,424 8,184,703 3,145,330 2,749,517 11,229,209 11,801,199 6,107,873 5.699.006 1,804,630 1,949,121 245,257 834,562 1,204,309 76,781 10,009,036 974,867 13,313 103,378 49.5% 216,804 923,429 1,458,206 159,043 10,669,985 909,042 8,650 41,638 45.5% 27.5% 29.5% 16.0% 633 15.0% 633 p—Prelizninary. PRINCIPAL ASSET AND LIABILITY ITEMS OF MEMBER BANKS 1951-60 ELEVENTH FEDERAL RESERVE DISTRICT (In thousands of dollars) Total December 31 Deposits 1951 7,742,798 1952 8,191,531 1953 8,556,257 1954 9,140,693 1955 9,488,708 1956 9,803,404 1957 9,701,443 1958 10,659,885 1959 10,669,985 1960p 11,215,889 p—Preliminary. Total Loans (Net) 2,570,429 2,856,931 3,099,116 3,477,039 3,951,231 4,020,769 4,163,708 4,617,590 4,857,870 5,153,613 Total Investments 2,768,680 2,872,876 2,886,575 3,15,6,508 2,943,022 3,071,467 3,098,982 3,544,026 3,469,554 3,501,842 Total Loans (Net) and Investments 5,339,109 5,729,807 5,985,691 6,633,547 6,894,253 7,092,236 7,262,690 8,161,616 8,327,424 8,655,455 Total U.S. Gov. Secs. 2,362,881 2,446,220 2,427,003 2,642,771 2,368,923 2,455,219 2,397,877 2,711,203 2,594,655 2,621,353 Total Capital Accounts 464,027 516,276 558,071 606,478 680,996 736,433 798,713 849,568 909,042 973,457 COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF MEMBER BANKS ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) 1959 Net Change 1960oyer 1959 102,227 293,401 21,983 Service charges on deposit accounts______________ All other earnings____________________________ 40,563 TOTAL EARNINGS FROM CURRENT OPERATIONS 458,174 Salaries and wages.____ __ ___________________ 115,571 Taxes other than net income______________ ______ 22,795 All other expenses____________________________ 150,378 TOTAL CURRENT OPERATING EXPENSES_______ 288,744 NET EARNINGS FROM CURRENT OPERATIONS.__ 169,430 95,923 269,515 20,148 39,141 424,727 108,603 20,750 139,765 269,118 155,609 6,304 23,886 1,835 1,422 33,447 6,968 2,045 10,613 19,626 13,821 10,867 9,638 1,229 31,856 148,441 59,552 88,889 40,233 632 43,381 121,866 51,236 70,630 37,623 633 —11,525 26,575 8,316 18,259 2,610 1960p Item Interest and dividends on securities. Interest and discount on loans_____ Total recoveries, transfers from valuation reserves, and profits _______________________________ Total losses and charge-offs, and transfers to valuation reserves __________________ _______ Profits before income taxes_____________________ Taxes on net income______________________ ___ NET PROFITS____ _ Cash dividends declared^ Number of banks___ _________________ ____ _ —1 p—Preliminary. ^Includes interest on capital notes and debentures. PRINCIPAL ITEMS OF EARNINGS AND EXPENSES OF MEMBER BANKS 1951-60 ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) Net Total Total Total Total Earnings Earnings Current fromCurrent Operating fromCurrent Recoveries Losses and Operations andProfits Charge-oflfs Year Operations Expenses 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960p 193,010 219,811 239,509 ‘ 256,738 288,345 317,106 349,842 378,067 424,727 458,174 112,833 130,646 146,381 158,289 173,762 193,265 216,929 241,292 269,118 288,744 80,177 89,165 93,128 98,449 114,583 123,841 132,913 136,775 155,609 169,430 p—Preliminary. ^Includes interest on capital notes and debentures. 6,172 5,955 8,116 26,432 8,950 8,102 7,751 19,610 9,638 10,867 20,191 20,882 22,613 26,579 29,356 38,735 29,262 29,947 43,381 31,856 Net Profits Cash Dividends Declared^ Number of Member Banks 39,393 41,058 41,878 58,264 54,874 56,548 67,309 76,123 70,630 88,889 17,531 20,006 21,157 22,973 26,771 29,473 31,577 34,315 37,623 40,233 633 634 636 632 634 634 634 631 633 632
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