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Federal reserve bank O F DALLAS Dallas, Texas, February 9,1946 CONDITION OF MEMBER BANKS, DECEMBER 31. 1945 To the Member Banks of the Eleventh Federal Reserve District: There is presented on the opposite page a statement of condition of all member banks in the Eleventh Federal Reserve District as of December 31, 1945, with comparative figures for June 30, 1945 and December 30, 1944. This statement reveals that the amount of change in the principal items of assets and liabilities of member banks in this district was greater during the year 1945 than during any previous year in the history of banking. On December 31, 1945 the aggregate deposits of member banks totaled $5,739,000,000, representing a net increase of $1,218,000,000 during the year or substantially more than the gain of $964,000,000 in the preceding year. During the six years that World War II was in progress the deposits of member banks in this district showed a net expansion of approximately $4,200,000,000, and at the end of 1945, were nearly four times as large as deposits at the end of 1939. Approximately $728,000,000 of the total expansion in deposits during 1945 occurred in the demand and time deposits of individuals, partner ships, and corporations and nearly $250,000,000 in deposits of the United States Govern ment, consisting chiefly of the Treasury’s war loan deposits at depositary banks. The increase in interbank deposits totaled approximately $162,000,000. During the year member banks utilized the increase in deposits to increase their loans and investments by approximately $914,000,000 and their cash reserves, including reserves with the Federal Reserve Bank and balances due from correspondent banks, by $334,000,000. It should be stated, however, that approximately $110,000,000 of that expansion represented an increase in required reserves of member banks resulting from the growth in deposits. Except for a moderate decline during 1942, the loans of member banks have shown a steady expansion throughout the war period, and the total of $1,138,000,000 on Decem ber 31, 1945 was the highest of record and more than double that at the end of 1939. The increase in loans during 1945, amounting to $322,000,000, was slightly larger than the total net expansion that occurred during the preceding five years. The increase in investments during the war years has been very pronounced, and aggregate investments of $2,864,000,000 on December 31, 1945 were nearly seven times the total six years earlier. This increase has Occurred almost entirely in holdings of direct and guaranteed securities of the United States Government, which rose from $280,000,000 on December 31, 1939 to $2,704,000,000 at the end of 1945. During 1945, holdings of Gov ernment securities by member banks in this district were increased by $554,000,000, or by approximately the same amount as in the preceding year. The total capital accounts of member banks increased approximately 50 percent dur ing the six-year period, but the expansion has not kept pace, proportionally, with the increase in deposits. Total capital accounts on December 31, 1945 aggregated $254,000,000, as compared with $222,000,000 a year earlier and $167,000,000 on December 31, 1939. Yours very truly, R. R. GILBERT 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 IN THE ELEVENTH FEDERAL RESERVE DISTRICT December 31, 1945 (Preliminary) ITEM Member banks in Eleventh District____ 585 Loans, including overdrafts..................... 1,138,244,000 U. S. Government obligations direct and guaranteed.......................................... 2,703,671,000 Obligations of States and political sub 131.801.000 divisions........................................... 28,984,000 Other securities............. ........ ................... TOTAL LOANS AND INVESTMENTS 4.002.700.000 Individual—Demand deposits................... 3.303.859.000 414.431.000 Individual—Time deposits...................... Deposits of U. S. Government, including 767,272,000 postal savings.................................... Deposits of States and political sub divisions............................................. 281.041.000 Deposits of banks....................................... 870.819.000 101.101.000 Other deposits............... .......................... . 5.738.523.000 TOTAL DEPOSITS ................... 253,684,000 TOTAL CAPITAL ACCOUNTS Cash and balances due from banks_____ 1.951.266.000 — 0— Borrowings from Federal Reserve Bank. — 0— All other borrowings ........ ...... ............. . Ratio of loans to total loans and invest ments.................................................. 28.4% Ratio of cash and exchange to total deposits........................................ ...... 34.0% June 30, 1945 (Revised) December 30, 1944 (Revised) 586 921,048,000 579 815,977,000 2,386,686,000 2,149,906,000 112.633.000 24,046,000 3.444.413.000 2.906.973.000 369.217.000 100,822,000 21,807,000 3.088.512.000 2.674.727.000 315,464,000 659,191,000 518,519,000 223.902.000 735.511.000 39,161,000 4.933.955.000 245.669.000 1.698.416.000 75,000 150,000 207.819.000 709.120.000 95,352,000 4.521.001.000 222.182.000 1.616.970.000 200,000 — 0— 26.7% 26.4% 34.4% 35.8% PRINCIPAL ASSET AND LIABILITY ITEMS OF ALL MEMBER BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT AS OF DECEMBER 31 OF EACH YEAR 1939 TO 1945, INCLUSIVE (Thousands of dollars) December 31, 1939 1940 1941 1942 1943 1944 1945 Total Deposits 1,576,744 1,738,390 2,051,770 2,867,889 3,557,172 4,521,001 5,738,525 Total Loans 496,359 579,639 663,215 599,354 666,375 815,977 1,138,244 Total Loans Investments and Investments Total U. S. Gov. Secs. Total Capital Accounts 425,330 445,887 532,411 1,092,898 1,726,506 2,272,535 2,864,456 279,450 294,480 369,689 939,929 1,588,403 2,149,906 2,703,671 167,220 175,880 183,916 188,169 200,785 222,182 253,684 Total 921,689 1,025,526 1,195,626 1,692,252 2,392,881 3,088,512 4,002,700 j
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