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Federal reserve Bank O F D A LLA S Dallas, Texas, August 4,1948 CONDITION OF MEMBER BANKS. JUNE 30, 1948 To the Member Banks of the Eleventh Federal Reserve District: There is presented on the opposite page of this letter a statement o f the condition o f all member banks in the Eleventh Federal Reserve District as o f June 30, 1948, and comparative figures as revised for April 12, 1948, and June 30, 1947. These data reveal the significant changes which occurred in the principal assets and liabilities of member banks in this district between April 12, 1948, and June 30, 1948, and during the year ended June 30, 1948. Comparative data as of June 30 for prior years through 1939 also are shown. On June 30, 1948, total loans of member banks in the district were $1,640,999,000, an amount $15,984,000 higher than the total outstanding on April 12, 1948, and $321,612,000 higher than on June 30 a year ago. The increase in loans during the year ended June 30, 1948, was substantially greater than in any comparable period and reflected the notable loan expansion which took place during the last half of 1947. During the first six months o f 1948, loan expansion continued at the member banks o f the district, although the increase was at a much slower rate. Member banks in the district reported no significant change in holdings of Government securities between April 12 and June 30, 1948, although the total on the latter date was $26,967,000 less than on the same date a year ago. Obligations o f states and political subdivisions held by member banks in the district increased $3,804,000 between April 12 and June 30, 1948, while holdings of other securities declined $508,000. During the year ended June 30, 1948, however, holdings of obligations o f states and political subdivisions increased by $47,176,000 and holdings of other securities rose by $5,255,000. Total deposits o f member banks in the district on June 30, 1948, were $5,704,680,000, or $423,461,000 higher than the total on the same date in 1947 and $108,911,000 more than on April 12, 1948. During the second quarter of 1948, deposits of member banks in this district reversed the declining trend which had prevailed during the first three months of the year and regained a substantial part o f the deposit shrink age o f those early months. Despite the significant increase in deposits between April 12 and June 30, 1948, total deposits of the member banks in the district were considerably lower than the amount reported at the end of 1947. Total capital accounts of the member banks on June 30, 1948, were $334,481,000, or $26,266,000 more than on the same date a year ago but $1,860,000 less than on April 12, 1948. This decline between April 12 and June 30, 1948, is accounted for by the fact that under the new method of handling reserves for bad debt losses on loans, effective June 30, 1948, the amount of such reserves deducted from capital accounts exceeded the net additions to capital during the period, with the consequence that total capital accounts showed a slight decline. 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 June 30, 1948 (Preliminary) ITEM Member banks in Eleventh District____ Loans, including overdrafts__________ U. S. Government obligations direct and guaranteed________________________ Obligations of States and political sub divisions__________________________ Other securities______________________ TOTAL LOANS AND INVESTMENTS Individual— Demand deposits_________ Individual— Time deposits_____________ Deposits of U. S. Government, including postal savings_____________________ Deposits of States and political sub divisions__________________________ Deposits of banks____________________ Other deposits________________________ TOTAL DEPOSITS TOTAL CAPITAL ACCOUNTS Cash and balances due from banks____ Borrowings from Federal Reserve Bank All other borrowings_________________ Ratio of loans to total loans and invest ments_____________________________ Ratio o f cash and exchange to total deposits___________________________ April 12, 1948 (Revised) June 30, 1947 (Revised) 616 1.640.999.000 616 1.625.015.000 605 1.319.387.000 2.162.890.000 2.163.177.000 2.189.857.000 235.458.000 58.829.000 4.098.176.000 3.911.100.000 498.641.000 231.654.000 59.337.000 4.079.183.000 3.862.197.000 492.890.000 188,282,000 53.574.000 3.751.100.000 3.648.410.000 480.840.000 69.351.000 81.872.000 38.550.000 493.375.000 673.828.000 58.385.000 5.704.680.000 334.481.000 1.894.851.000 300,000 488.720.000 617.457.000 52.633.000 5.595.769.000 336.341.000 1.806.331.000 387.000 100.000 384.790.000 669.821.000 58.808.000 5.281.219.000 308.215.000 1.800.632.000 200,000 40.0 % 39.8 % 35.2 % 33.2 % 32.3 % 34.1 % — o— — o— PRINCIPAL ASSET AND LIABILITY ITEMS OF ALL MEMBER BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT AS OF JUNE 30 OF EACH YEAR 1939 TO 1948, INCLUSIVE (Thousands of dollars) June 30, Total Deposits 1939 1940 1941 1942 1943 1944 1945 1946 1947* 1948 p 1,436,977 1,571,489 1,813,657 2,094,757 3,115,118 3,866,006 4,933,955 5,467,860 5,281,219 5,704,680 * Revised, p Preliminary. Total Loans 474,688 489,655 569,475 591,477 544,657 741,970 921,048 1,148,996 1,319,387 1,640,999 Total Total Loans Investments and Investments 419,029 418,587 482,994 656,032 1,488,739 1,933,527 2,523,365 2,780,921 2,431,713 2,457,177 893,717 908,242 1,052,469 1,247,509 2,033,396 2,675,497 3,444,413 3,929,917 3,751,100 4,098,176 Total U. S. Gov. Secs. Total Capital Accounts 279,998 275,819 332,020 500,034 1,346,185 1 ,813,127 2,386,686 2,590,122 2,189,857 2,162,890 166,351 173,513 181,719 188,288 195,584 215,327 245,669 283,936 308,215 334,481
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