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F ederal reserve bank OF DALLAS Dallas, Texas, February 9,1959 C O N D IT IO N A N D E A R N IN G S O F MEMBER BANKS ELEVENTH FEDERAL RESERVE D IS TR IC T To the Member Banks in the Eleventh Federal Reserve District: The year 1958 was a period of marked expansion for member banks in the Eleventh Federal Reserve District, and at the end of the year, total assets stood at a record high of $11.6 billion. Net profits during the year, at $76 million, also surpassed all previous records. Asset expansion of $1.0 billion in 1958 featured large gains in both loan and invest ment accounts. Influenced by easier reserve positions and more aggressive bank lending policies, as well as by persistent strength in loan demand, gross loans advanced $463 million during the year. Slightly more than half of this gain reflected expansion in busi ness loans, and the remainder of the increase was concentrated in real-estate loans, loans to farmers, and securities loans. Member banks increased their investments by $445 million, placing primary emphasis upon issues in the intermediate- and longer-term ma turity range. Of the increase in Government securities holdings, almost two-thirds con sisted of obligations having maturities beyond 5 years. Deposits advanced to a record level of $10.7 billion on December 31, or almost $960 million above the year-earlier amount. Both demand accounts and time deposits showed large gains, but time deposits registered a much larger percentage increase. At the end of 1958, the ratio of cash accounts to total deposits was 29.9 percent, com pared with 32.0 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, September 24, December 31, 1957 1958 1958p 4,163,708 4,322,313 Loans (net), including overdrafts______________ 4,617,615 2,397,877 2,640,485 U. S. Government obligations, direct and guaranteed. 2,712,189 520,495 603,420 Obligations of states and political subdivisions____ 634,982 180,610 184,907 e iP P n v i'H p s i 196,864 7,751,125 7,262,690 8,161,650 TOTAL LOANS (NET) AND I N ^ 3,107,915 2,678,498 Cash and balances due from banks______________ 3,189,960 TOTAL ASSETS ___________________________ 11,632,730 10,689,015 10,634,061 5,749,607 5,721,58T Individual — Demand deposits____- ____________ . 6,197,633 1,347,342 1,727,560 Individual — Time deposits — -_________________ 1,723,807 Item Deposits of U. S. Government, including postal 170,928 savings . 936,498 Deposits of states and political subdivisions. . 1,459,943 Deposits of banks_____________________ 171,319 Other deposits _______________________ 10,660,128 TOTAL DEPOSITS ___________________ 849,611 TOTAL CAPITAL ACCOUNTS__________ 750 Borrowings from Federal Reserve Bank___ 0 All other borrowings__________________ 43.3% Ratio of loans to total deposits___________ Ratio of cash and balances due from banks 29.9% to total deposits14.8% Ratio of total capital accounts to risk assets (total assets less Government securities and cash assets) 631 Number of banks___________________________ 169,713 770,644 1,230,368 87,575 9,707,444 851,937 28,969 2,519 44.5% 159,850 885,043 1,395,257 164,344 9,701,443 798,713 14,565 452 42.9% 27.6% 15.9% 32.0% 15.6% 630 634 p—Preliminary. PRINCIPAL ASSET AND LIABILITY ITEMS OF MEMBER BANKS 1950-58 ELEVENTH FEDERAL RESERVE DISTRICT (In thousands of dollars) Total December 31 Deposits 1950 7,198,467 1951 7,742,798 1952 8,191,531 8,556,257 1953 1954 9,140,693 9,488,708 1955 9,803,404 1956 1957 9,701,443 1958p 10,660,128 p—^Preliminary. Total Loans (Net) 2,406,188 2,570,429 2,856,931 3,099,116 3,477,039 3,951,231 4,020,769 4,163,708 4,617,615 Total Investments 2,643,066 2,768,680 2,872,876 2,886,575 3,156,508 2,943,022 3,071,467 3,098,982 3,544,035 Total Loans (Net) and Investments 5,049,254 5,339,109 5,729,807 5,985,691 6,633,547 6,894,253 7,092,236 7,262,690 8,161,650 Total U.S. Gov. Secs. 2,274,935 2,362,881 2,446,220 2,427,003 2,642,771 2,368,923 2,455,219 2,397,877 2,712,189 Total Capital Accounts 418,483 464,027 516,276 558,071 606,478 680,996 736,433 798,713 849,611 COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF MEMBER BANKS ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) Item Service charges on deposit accounts. All other earnings. TOTAL EARNINGS FROM CURRENT OPERATIONS Total recoveries, transfers from valuation reserves, Total losses and charge-offs, and transfers to valuation reserves___________________ NET PROFITS ______ Cash dividends declared^ Number of banks_____ Net Change 1958 over 19 4,856 17,712 1,820 3,164 27,552 5,219 1,050 17,466 23,735 3,817 1958p 85,518 236,627 17,944 37,305 377,394 101,561 18,845 120,258 240,664 136,730 1957 80,662 218,915 16,124 34,141 349,842 96,342 17,795 102,792 216,929 132,913 19,465 7,751 11,714 29,716 126,479 50,432 76,047 34,346 631 29,262 111,402 44,093 67,309 31,577 634 454 15,077 6,339 8,738 2,769 —3 p—Preliminary. ^Includes interest on capital notes and debentures. PRINCIPAL ITEMS OF EARNINGS AND EXPENSES OF MEMBER BANKS 1950-58 ELEVENTH FEDERAL RESERVE DISTRICT (Amounts in thousands of dollars) Year 1950 1951 1952 1953 1954 1955 1956 1957 1958p Total Total Net Earnings Current Total Earnings Total from Current Operating From Current Recoveries Losses and Net Operations Expenses Operations and Profits Charge-offs Profits 173,424 101,975 71,449 16,932 41,995 7,399 193,010 112,833 39,393 80,177 6,172 20,191 219,811 130,646 89,165 20,882 41,058 5,955 239,509 22,613 41,878 146,381 93,128 8,116 58,264 26,432 26,579 256,738 158,289 98,449 54,874 8,950 29,356 173,762 114,583 288,345 56,548 8,102 38,735 123,841 193,265 317,106 29,262 67,309 132,913 7,751 349,842 216,929 76,047 19,465 29,716 240,664 136,730 377,394 1 Includes interest on capital notes and debentures, p—Preliminary. Cash Dividends Declared^ 15,081 17,531 20,006 21,157 22,973 26,771 29,473 31,577 34,346 Number of Member Banks 630 633 634 635 632 634 634 634 631
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