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F ederal reserve Bank OF DALLAS Dallas, Texas, March 7,1958 CONDITION AND EARNINGS OF MEMBER BANKS ELEVENTH FEDERAL RESERVE DISTRICT To the Member Banks in the Eleventh Federal Reserve District: Net profits of member banks in the Eleventh Federal Reserve District rose to a rec ord high of $67,626,000 during 1957, reflecting a gain of almost 20 percent over the pre ceding year. The year-end volume of earning assets also reached a record level in 1957, but total assets declined slightly. The year’s expansion in earning assets occurred primarily in loan accounts, which rose $148,803,000 to a total of $4,164,572,000. Increased lending to individuals accounted for slightly more than half of the loan expansion, while the remainder of the loan increase was concentrated in commercial and industrial borrowings. Agricultural loans, real-estate loans, and securities loans showed only modest growth. Loan expansion during the year was paralleled by a $27,485,000 increase in investments, with the addition to non-Government securities more than offsetting the decline in holdings of Government obligations. Notwithstanding the increase in loans and investments, total assets declined $33,742,000, as cash and balances due from banks were reduced $208,995,000. Most demand deposit categories contracted during 1957. The demand balances of individuals and businesses showed the largest decline, and this decrease was accompanied by a substantial reduction in interbank accounts. The reduction in demand balances more than offset a $235,119,000 increase in time accounts, producing a $101,114,000 decline in total deposits. Capital accounts continued to rise during 1957. Additions to these accounts during the year amounted to $62,647,000, raising year-end capital accounts to $799,080,000. 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) CO M PARATIVE ST A T E M E N T OF CONDITION OF M E M BE R B A N K S E L E V E N T H F E D E R A L R E SE R V E DISTRICT (Amounts in thousands of dollars) December 31, 1957p Item Loans (net), including overdrafts_________________ 4,164,572 U. S. Government obligations, direct and guaranteed 2,397,842 Obligations of states and political subdivisions______ 519,659 Other securities 181,451 TOTAL LOANS (NET) AND IN V E ST M E N TSZ3. 7,263,524 Cash and balances due from banks_________________ 3,107,901 TOTAL ASSETS ________________________________ 10,635,033 Individual — Demand deposits____________________ 5,749,732 Individual — Time deposits ______________________ 1,348,370 Deposits of U. S. Government, including postal 159,849 savings ________________ _______________________ 884,556 Deposits of states and political subdivisions________ Deposits of banks________________________________ 1,395,283 164,500 Other deposits___________________________________ TOTAL DEPOSITS ______________________________ 9,702,290 799,080 TOTAL CAPITAL ACCOUNTS___________________ 14,565 Borrowings from Federal Reserve Bank____________ 452 All other borrowings_____________________________ 42.9% Ratio of loans to total deposits____________________ Ratio of cash and balances due from banks 32.0% to total deposits_______________________________ Ratio of total capital accounts to risk assets (total 15.6% assets less Government securities and cash assets) 634 Number of banks________________________________ October 11, 1957 December 31, 1956 3,998,353 2,425,896 517,371 157,498 7,099,118 2,625,497 9,973,230 5,522,518 1,338,349 4,020,769 2,455,219 469,712 146,536 7,092,236 3,316,896 10,668,775 5,945,126 1,113,251 210,575 756,963 1,116,324 86,631 9,031,360 798,016 21,616 15,035 44.3% 185,302 828,317 1,551,025 180,383 9,803,404 736,433 0 40 41.0% 29.1% 33.8% 16.2% 634 15.0% 634 p— Preliminary. PRINCIPAL ASSET AND LIABILITY ITEMS OF MEMBER BANKS 1950-57 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 1957p 7,198,467 7,742,798 8,191,531 8,556,257 9,140,693 9,488,708 9,803,404 9,702,290 2,406,188 2,570,429 2,856,931 3,099,116 3,477,039 3,951,231 4,020,769 4,164,572 2,643,066 2,768,680 2,872,876 2,886,575 3,156,508 2,943,022 3,071,467 3,098,952 5,049,254 5,339,109 5,729,807 5,985,691 6,633,547 6,894,253 7,092,236 7,263,524 2,274,935 2,362,881 2,446,220 2,427,003 2,642,771 2,368,923 2,455,219 2,397,842 418,483 464,027 516,276 558,071 606,478 680,996 736,433 799,080 p— Preliminary. C O M PAR ATIVE S T A T E M E N T OF E A R N IN G S A N D E X P E N S E S OF M EM BER B A N K S E L E V E N T H F E D E R A L R E SE R V E DISTRICT (Amounts in thousands of dollars) Net Change Item 1957p Interest and dividends on securities__________ __________ 80,656 Interest and discount on loans_________________________ 218,867 Service charges on deposit accounts____________________ 16,118 All other earnings______________ __ _ 84,220 TO TAL EA R N IN G S FROM CU RR EN T O PERATIONS __ 349,861 Salaries and w ages___________________________________ 96,343 Taxes other than net income__________________________ 17,787 All other expenses________________ . ___ 102,826 TOTAL CURRENT O PERATIN G E X P E N S E S __________ 216,956 N E T E A R N IN G S FROM CU RR EN T O PERATIO N S____ 132,905 Total recoveries, transfers from valuation reserves, and profits ________________________________________ 6,995 Total losses and charge-offs, and transfers to valuation reserves__________________________________ 28,493 Profits before income taxes___________________________ 111,407 Taxes on net income....... ............... 43,781 N E T PROFITS _____________________________________________ 67,626 Cash dividends declared1 ..................................................... 32,223 634 Number of banks_____________________________________ 1956 1957 over 1956 69,443 202,798 14,093 30,772 317,106 90,626 16,463 86,176 193,265 123,841 11,213 16,069 2,025 3,448 32,755 5,717 1,324 16,650 23,691 9,064 8,102 — 1,107 38,735 93,208 36,660 56,548 29,473 634 — 10,242 18,199 7,121 11,078 2,750 0 1 Includes interest on capital notes and debentures, p— Prelim inary. PRINCIPAL ITEMS OF EARNINGS AND EXPENSES OF MEMBER BANKS 1950-57 ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) Year 1950 1951 1952 1953 1954 1955 1956 1957p Total Earnings from Current O perations Total Current O perating Expenses 173,424 193,010 219,811 239,509 256,738 288,345 317,106 349,861 101,975 112,833 130,646 146,381 158,289 173,762 193,265 216,956 Net Earnings From Current Operations 71,449 80,177 89,165 93,128 98,449 114,583 123,841 132,905 i Includes interest on capital notes and debentures, p— Prelim inary. Total Total Recoveries Losses and and Profits C harge-offs 7,399 6,172 5,955 8,116 26,432 8,950 8,102 6,995 16,932 20,191 20,882 22,613 26,579 29,356 38,735 28,493 Net Profits Cash Dividends D eclared1 Num ber of M ember Banks 41,995 39,393 41,058 41,878 58,264 54,874 56,548 67,626 15,081 17,531 20,006 21,157 22,973 26,771 29,473 32,223 630 633 634 635 632 634 634 634
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