The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FED ERAL RESERVE BANK
O F NEW YORK
Fiscal A gen t o f the U nited States
r C ircu lar N o . 5 0 1 1
I
March 29, 1961
Results o f Bidding for 172-Day Treasury Bills, Dated April 3, 1961
Tax Anticipation Series
To A ll Incorporated Banks and Trust Companies, and Others
Concerned, in the Second Federal R eserve D istrict:
The Treasury Department announced last evening that the tenders for
$1,500,000,000, or thereabouts, o f Tax Anticipation Series 172-Day Treasury bills to
be dated A pril 3, and to mature September 22, 1961, which were offered on March 23,
were opened at the Federal Reserve Banks on March 28.
The details of this issue are as follow s:
Total applied for . .
Total accepted . .
$3,894,635,000
$1,501,150,000
(includes $218,935,000 entered on a non
competitive basis and accepted in full
at the average price shown below)
Range of accepted competitive bids (excepting three tenders totaling $1,900,000) :
Equivalent rate of discount approx.
High ..................... 98.863
2.380% per annum
Low ....................... 98.810
Equivalent rate of discount approx.
2.491% per annum
Equivalent rate of discount approx.
Average ............... 98.818
2.473% per annum1
(47 percent of the amount bid for at the low price was accepted)
Federal R eserve D istrict
Total applied fo r
Boston ............................................ $ 213,880,000
New York ......................................
1,689,980,000
Philadelphia ...................................
186,190,000
Cleveland ......................................
379,695,000
69,930,000
Richmond ......................................
Atlanta ..........................................
121,975,000
Chicago ..........................................
431,415,000
St. Louis ........................................
114,265,000
Minneapolis ....................................
97,480,000
Kansas C i t y ....................................
88,900,000
Dallas ..............................................
245,500,000
San Francisco ...............................
255,425,000
T ota l
....................................
$3,894,635,000
Total accepted
$ 106,080,000
416,785,000
75,878,000
177,675,000
37,498,000
70,103,000
215,984,000
41,702,000
58,055,000
39,730,000
169,850,000
91,810,000
$1,501,150,000
1 On a coupon issue o f the same length and fo r the same amount invested, the return on these bills
would provide a yield o f 2.54 percent. Interest rates on bills are quoted in terms o f bank discount,
with the return related to the fa ce amount o f the bills payable a t m aturity rather than the amount
invested, and their length in actual number o f days related to a 360-day year. In contrast, yields on
certificates, notes, and bonds are com puted in terms o f interest on the amount invested, and relate
the num ber o f days remaining in an interest paym ent period to the actual num ber o f days in the
period, with semiannual com pounding i f more than one coupon period is involved.
A
lfr ed
H ayes,
President.
L 'J i
L./ Z
OPERATING RATIOS
EARNINGS AND EXPENSES
OF SECOND DISTRICT MEMBER BANKS
March 30, 1961
To A ll Member Banks of the Second
Federal Reserve District:
On the following pages is a report on the earnings and expenses and
the operating ratios of our member banks for the year 1960, prepared by
our Bank Examinations Department. We are pleased to send you this report
for use as a management tool at your bank. In form, the report follows the
presentation we made for the year 1959.
Additional copies are available upon request.
A
lfred
H
ayes,
President.
Federal Reserve Bank of New York
CONTENTS
Page
P A R T I, Earnings a n d Expenses of Second District M em ber Banks in 1960 .................................
1
Table, Earnings and Expenses of Second District Member Banks, 1958-60................................
2
P A R T II, O pe ra tin g Ratios o f Second District M em b e r Banks for the Y e a r 1960 ...................
3
Tables
1960 Average Operating Ratios of All Member Banks in the Second District............................
5
1960 Average Operating Ratios of Second District Member Banks:
In New York City .................................................................................................................
5
In Group I —Deposits under $2 Million ..........................................................................
6
In Group II —Deposits of $2 Million to $5 Million .........................................................
7
In Group III—Deposits of $5 Million to $20 Million .......................................................
8
In Group IV—Deposits of $20 Million to $50 Million .......................................................
9
In Group V—Deposits of $50 Million or o v e r ...................................................................
10
Notes to Pages 5-10 ......................................................................................................................
11
PART I
Earnings a n d Expenses of Second District
M e m b e r Banks in 1960
Su m m a ry
EARNINGS, EXPENSES, NET CURRENT
OPERATING EARNINGS, A N D NET PROFITS
OF SECOND DISTRICT MEMBER BANKS
1951-60
Net operating earnings of Second District member banks
in 1960 rose 14.5 per cent above the record high earnings in
1959, despite divergent economic trends that developed dur
ing the year. Late in August, major banks in New York
City initiated a reduction in the 5 per cent prime rate, which
had been in effect since September 1, 1959, to 4.5 per cent.
Since a large portion of the loan portfolio—including mort
gage and consumer credit as well as outstanding term loans
—is not readily responsive to the prime rate, the reduction
did not adversely affect total earnings from the larger loan
volume. While loan earnings reflected higher average inter
est rates on increased average volume outstanding, earnings
on U.S. Government and other securities showed only a
modest increase over 1959—a netting of lower average hold
ings and slightly higher yields. Despite sharply increased
net profits after adjustments for nonoperating gains, losses,
and taxes, cash dividends were only slightly higher. As a
result, average capital accounts at Second District member
banks were strengthened during the 1960 banking year.
M i ll i o n s o l d o lla r 's
1951
1952
M i ll i o n s o f d o lla r s
1953
1954
1955
1956
1957
1958
1959
1960
So u rc e s: B o a r d o f G o v e r n o r s o l t he F e d e ra l R e se r v e S y ste m , 1951-59.
F ig u re s fo r 196 0 a re p r e lim in a r y a n d a r e c o m p ile d b y the F e d e ra l
R e se r v e B o n k o f N e w -Y o rlt.
O pe ra ting Earnings
improved by the higher average yield for all member banks
in the District, 3.16 per cent contrasted with 2.84 per cent
in 1959. Central reserve city banks averaged even higher
returns than other banks in the District. The switching
operations of these banks, from long to short maturities in
the early part of the year also provided advantages of
liquidity.
Approximately 80 per cent of the total $224 million gain
in gross operating earnings can be attributed to higher re
turns on loans, an asset category that has been accounting
for a growing proportion of total operating earnings through
out the postwar years. The most significant increases in the
major types of loans for all member banks since the end of
1959 were in commercial loans (higher by 4.3 per cent) and
consumer loans, which increased at more than double the
rate of commercial loans.
Federal Reserve action during the final months of 1960
affected the availability of funds and the potential lending
power of member banks. Permission for all member banks’
vault cash to be counted as reserves became effective Nov
ember 24, and central reserve city banks’ reserve require
ments were lowered effective December 1 (country banks’
reserve requirements were raised slightly, partially offsetting
the effect of the new vault cash rules). These changes only
slightly affected 1960 earnings.
Earnings on U. S. Government and other securities were
O pe ra tin g Expenses
Personnel expenses were higher because of improved
salary scales and the increased number of officers and em
ployees. Increased interest outlays on time and savings
deposits reflected primarily higher average interest rates
paid. The interest costs have increased until they now
account for almost one-quarter of all operating expenses—
in contrast to less than 10 per cent a decade ago. Interest and
discount on borrowed money also increased in 1960 as a
result of pressures on some banks to borrow reserves,
particularly during the early portion of the year.
1
member banks was about 76 per cent higher than in 1959,
when substantial losses on security sales resulted in tax
savings.
j&
Against the favorable 1960 background, dividends were
only slightly higher than in 1959 and represented less than
one-half of the net profits available either for distribution to
stockholders or addition to capital funds. (By contrast, the
portion paid out during 1959 absorbed two-thirds of net
profits.) As a result, retained 1960 earnings, even exclusive
of transfers to valuation reserves, were more than double
the dollar amount in 1959. Viewed differently, the remain
ing 1960 net profits available for strengthening capital
accounts amounted to $5.04 per $100 of average capital
in contrast to less than half that amount, $2.44 per $100,
for the earlier year.
Nonoperating Items
The netting of all nonoperating items in 1960 resulted in
only modest deductions from income of banks both within
and outside New York City—unlike 1959 when improved
operating earnings were diminished by heavy securities losses
taken largely to expand loanable funds. Among nonoperating
transactions, however, both groups of banks showed net
charge-offs on loans, the bulk taken by the central reserve
New York City banks. (The adverse situation resulting from
political developments in Cuba accounted for unusually large
charge-offs of presently uncollectible loans.)
T a x e s , D ivid e n d s, a n d Retained Earnings
Provision for income taxes (paid or accrued in 1960) by
Earnings and Expenses of Second District Member Banks
1958-60
(In m illions o f dolla rs)
A l l S econ d D istrict
m em ber banks
C en tral reserve N e w Y o r k
C it y ban ks
1958
1959
1960
1958
1959
1960
529
508
492
18
16
15
O n loan s (in clu d in g s erv ice charges and fees o n lo a n s ). .
S ervice charges o n d ep osit a c c o u n ts .......................................
272.6
106.1
1,084.3
72.9
136.5
113.0
295.9
118.5
1,248.1
76.3
156.1
106.3
299.8
12;!. 2
1,427.3
81.7
167.7
125.5
170.1
61.3
699.0
26.5
119.6
87.5
181.8
68.5
812.2
27.0
136.9
79.7
T o t a l cu rren t op eratin g e a rn in g s......................
1,785.4
2,001.2
2,225.2
1,164.0
E xpenses:
Salaries a n d wages— officers a n d e m p lo y e e s ........................
In terest o n tim e d ep osits (in clu d in g savings d e p o s its ). .
In terest a n d d is c o u n t o n b o r r o w e d m o n e y ..........................
T a x es oth er th a n o n net in c o m e ...............................................
R ecu rrin g dep recia tion o n b a n k in g house, fu rn itu re, and
478.4
246.3
9.4
30.4
502.8
276.5
28.6
33.7
542.6
299.1
31.2
40.0
28.9
301.0
31.3
328.0
T o t a l curren t op e ra tin g e x p e n se s......................
N e t cu rren t op eratin g earnings b e fo r e in co m e ta x e s ............
1,094.4
691.0
N e t recoveries ( + ) o r charg e-offs ( — ) o n lo a n s ....................
Securities p rofits and recov e rie s ( + ) o r charge-offs
A l l oth er recoveries ( + ) o r ch a rg e -o ffs ( —) ............................
N e t ad d ition s t o ( — ) o r d e d u ctio n s fro m ( + ) v a lu a tio n
reserves fo r :
Item
R e se rv e c it y and
c o u n tr y banks
1958
1959
1960
511
492
477
187.0
70.4
942.1
30.9
146.9
98.5
102.5
44.8
385.3
46.4
16.9
25.5
114.1
50.0
435.9
49.3
19.2
26.6
112.8
52.8
485.2
50.8
20.8
27.0
1,306.1
1,475.8
621.4
695.1
749.4
299.9
109.9
8.3
15.8
314.9
122.9
25.1
17.6
345.4
131.6
28.5
22.0
178.5
136.4
1.1
14.6
187.9
153.6
3.5
16.1
197.2
167.5
2.7
18.0
34.1
361.7
13.6
189.0
14.3
204.2
16.1
231.5
15.3
112.0
17.0
123.8
18.0
130.2
1,200.9
800.3
1,308.7
916.5
636.5
527.5
699.0
607.1
775.1
700.7
457.9
163.5
501.9
193.2
533.6
215.8
2.7
+ 116.5
2.6
6.4
-240.1
+ 10.8
- 76.4
+ 6.5
+ 21.0
+
+
-
3.7
86.6
1.4
-
+
+
67.9
2.8
23.0
+
-
6.4
29.9
1.2
-
6.3
51.4
4.1
-
+
-
37.9
32.1
- 59.9
+ 26.2
-
-
17.6
23.1
+
-
12.6
8.1
-
20.3
9.0
+
18.2
6.5
N e t p rofits b efore in com e ta x e s.....................................................
T a x es o n n e t in c o m e ...........................................................................
732.2
333.9
530.9
204.9
820.1
361.1
5 7 5 .7
275.9
411.2
171.4
637.9
293.3
156.5
3 3 .5
182.2
67.8
N e t p rofits a fte r in co m e ta x e s ............................
398.3
326.0
459.0
299.8
239.8
344.6
98.5
8 6 .2
114.4
C a sh divid en d s p a id o r d e c la r e d ...................................................
R eta in ed ea rn in g s...............................................................................
2 0 8 .0
216.9
109.1
224.6
160.2
139.6
166.3
73.5
174.6
170.0
47.8
5 0 .6
3 5 .6
5 0 .0
E a rn ings:
O n U n ited States G ov ern m e n t se cu ritie s..............................
190.3
33.0
14.5
2 3 4 .4
.1
-188.7
14.9
-
41.7
19.7
5 8 .0
5 0 .7
119.7
8 .5
+
3.7
-
2 .0
-
2 0 .4
-
6.4
64.4
S ou rces: B o a rd o f G ov ern ors o f th e Fed era l R eserv e S ystem , 1958, 195 9; 1960 figures are prelim in ary and w ere co m p ile d b y th e F ed era l R eserv e B a n k o f N ew Y o rk .
2
SO U R CES A N D D IS P O S ITIO N O F IN C O M E
S E C O N D D ISTR IC T M EM BER B A N K S , 1960
P e r c e n t a g e s o f t o t a ls
SOURCES
D IS P O S IT IO N
S a l a r ie s a n d w a g e s .
~ -
=
22.8
D iv id e n d s !
I n te re s t o n d e p o sits^
^65>12.6%XM
f t w .ln c o m e t a x e s .w
,v !v ! Other v X v .
■ c u rre n t e x p e n s e s ;
S o u r c e : F i g u r e s f o r 1 9 6 0 a r e p r e l i m i n a r y a n d a r e c o m p i l e d b y th e F e d e r a l R e s e r v e B a n k o f N e w Y o r k .
PART II
O p e ra tin g Ratios of Second District M e m b e r Banks
for the Y e a r 1960
A larger proportion of earnings derived from loans charac
terized the averages for each of the eight deposit groupings,
with the averages of those groups with greater deposits being
generally higher: the smallest size group of banks—those
under $2 million deposits—obtained 59.7 per cent of their
total earnings from loan income, and Group V banks, with
deposits of $50 million or over, received 65.3 per cent of
their income from this source. In comparing group results,
however, it should be noted that the ratios of loans to total
assets of individual banks vary greatly within a group. (It
might also be noted that a number of factors qualify the
ratio of loans to total assets as a generally used measure
of a bank’s liquidity, such as its capital strength, the types
of loans that comprise its portfolio, and the characteristics
of the community it serves.)
Total operating expenses were slightly lower in relation
to total earnings ( # 19) than in 1959. This lower ratio was
the result of total earnings increasing more rapidly than
major expenses, rather than lowered dollar costs. For ex
ample, the expenses of salaries and wages ( #16) and other
S u m m a ry Ratios
Net current earnings ratios (# 1 and # 7 ) of all District
member banks were higher in 1960 than in the preceding
year, largely because of firmer rates of return both on loans
and securities. Improvement was also shown in the net profits
ratio in relation to total capital accounts ( # 3 ) and to total
assets ( # 8 ) . For all member banks in the District, the
ratio of return on capital rose to the highest level since 1954
and above the average for the last ten years. In spite of
these favorable net profit ratios, cash dividends were in
creased only slightly, partly because of the necessity of
retaining more earnings to maintain the capital to risk asset
ratio ( # 36) which was not as favorable in 1960.
Sources a n d Disposition of Earnings
Earnings on loans continued the trend of recent years,
accounting for a greater proportion of earnings. This
source ( # 1 1 ) contributed an even larger share than in
any previous year for which operating ratios were published.
3
tax exempt State and municipal issues. As shown, these
usually represent more permanent investments and therefore
reflect only slight changes in relation to assets ( #31) from
one year to the next.
current expenses ( # 18) both accounted for a lesser pro
portion of total earnings than in 1959 despite higher outlays.
By contrast, increased interest cost on time and savings
deposits registered a higher proportion of total earnings
( #17) .
Capital and Deposit Ratios
Rates of Return on Securities and Loans
The capital and deposit ratios show the growth of capital
accounts keeping pace with deposit and asset growth. High
average loan and interest rate levels reached in 1960 afforded
the opportunity to upgrade capital ratios, but the increase
in capital has not maintained pace with the rising invest
ment in risk assets. Although the ratios of capital to total
assets and to total deposits ( # 35 and #37) indicated virtual
constancy or modest strengthening, the capital to risk assets
ratio ( #36) showed some weakening as a result of loan
expansion.
The ratio of time deposits to total deposits ( # 38) for all
Second District banks continued to grow until time deposits
accounted for one-half of total deposits in 1960. This in
creased ratio was not, however, reflected at the largest banks.
Outlays for attracting and retaining time and savings
accounts ( # 39) were reflected in the 2.60 per cent average
interest rate on time deposits in 1960 contrasted with 2.37
per cent in 1959. The average interest rate has risen steadily
in each year since 1951.
The higher rates yielded in 1960 on loans ( # 28) and
securities ( # 2 5 and # 2 6 )—coupled with a heavier weight
of loans in total assets ( # 32)—were largely responsible for
the improved total earnings on assets ( # 5 ) .
Most banks in all size groups absorbed some losses on
securities ( #27) in 1960, but the loss on average holdings
for all banks in the District was minor compared to 1959.
Net losses on loans ( # 29) were slightly higher than the
District average for 1959, resulting partially from less favor
able economic conditions that prevailed during the latter
part of the year.
Distribution of Assets
The ratios of assets held in U.S. Government securities
and loans ( # 3 0 and #32) continued the unbroken trend
evidenced throughout the past ten years of shifting out of
securities in favor of expanding loans at profitable rates, as
the accompanying chart shows. Other securities are largely
Technical Notes
R A T IO S O F L O A N S A N D SECU R ITIES T O A SSETS
S E C O N D D IS TR IC T M E M B E R B A N K S
1 9 5 1 -6 0
P e r cent
In the tables of operating ratios shown on the following
pages, banks located outside New York City are included
in Groups I through V, ranged by deposit size, and New
York City banks are apportioned among Groups VI through
VIII. The blank column accompanying each size group is
for your convenience, enabling you to enter the ratios of
your bank for quick comparisons with the group averages.
Comparisons between the earnings and expense data in
Part I and the operating ratios are inappropriate because
the former are total amounts from reports of all Second
District member banks, while the operating ratios are arith
metical averages of the ratios of individual banks in each
group.
P er cent
A change has been made this year in the groupings of
banks located outside New York City. The increasing deposit
size of banks formerly grouped in the highest category—over
$20 million—required further subdividing of that former
Group IV classification: a new Group V has been created for
banks having deposits of $50 million or over. The 1959
ratios have not been re-computed separately for each of the
two new groupings.
S o u r c e s : B o a r d o f G o v e r n o r s o f the F e d e r a l R e s e r v e S y s te m , 1951-59.
F ig u r e s fo r 1 9 6 0 a re p r e lim in a r y a n d a re c o m p ile d b y the F e d e ra l
R e se r v e B a n k o f N e w Y o rk .
4
1 9 6 0 Average Operating Ratios o f All Member Banks in the Second District
( A ll r a t io s i n t h is ta b le a n d in t h e ta b le s o n t h e f o llo w in g p a g e s a re e x p re s se d in p e r c e n t a g e s a n d a re a r it h m e t ic a l
a v e ra g e s o f t h e r a t io s o f in d iv id u a l b a n k s in e a c h g r o u p , r a t h e r t h a n r a t io s b a s e d o n a g g r e g a te d o lla r fig u r e s .)
N o te :
SUMMARY RATIOS
B A N K S IN N E W Y O R K C IT Y *
A ll
S econd
D istrict
Banks
B a lan ce-sh eet figures u sed as a basis fo r th e 1960 ratios are
averages o f am ou n ts rep orted fo r D e ce m b e r 31, 1959,
M a rch 15, 1960, June 15, 1960, O cto b e r 3, 1960, and
D e ce m b e r 31, 1960.
N u m b e r o f b a n k s...........
GRO U P VI
D ep osits
und er $100
m illion
G R O U P V II
D ep osits $100
m illion t o
$1 billion
GROUP V III
D ep osits
o v e r $1
billion
1959
1960
1959
1960
1959
1960
1959
1960
507
489
7
5
6
7
8
8
2 0 .7
Percentage of Total Capital Accounts
1. N e t current earnings before incom e ta xes............................
1 3 .4
1 4 .1
1 5 .1
1 5 .1
2 1 .1
2 2 .9
1 8 .6
2. Profits before incom e ta x es........................................................
9 .6
1 1 .6
1 1 .1
1 2 .9
1 4 .8
2 1 .0
1 2 .4
1 9 .3
3. N et p rofits.......................................................................................
6 .9
8 .1
6 .9
8 .5
7 .2
1 0 .8
7 .3
1 0 .4
4. Cash dividends declared.............................................................
3 .0
3 .1
1 .6
1 .4
5 .0
4 .8
5 .1
4 .9
Percentage of Total Assets
S. T otal earnings................................................................................
4 .2 2
4 .4 6
4 .2 7
4 .6 0
4 .5 0
4 .7 6
3 .6 4
3 .9 0
6. T otal expenses................................................................................
3 .1 3
3 .2 9
3 .2 3
3 .3 4
2 .4 9
2 .6 7
1 .9 4
2 .0 0
7. N et current earnings before income taxes............................
1 .0 9
1 .1 7
1 .0 4
1 .2 6
2 .0 1
2 .0 9
1 .7 0
1 .9 0
8. N et p rofits.......................................................................................
0 .5 7
0 .6 8
0 .4 8
0 .7 1
0 .5 6
1 .0 2
0 .6 6
0 .9 6
SOURCES AN D DISPOSITION O F EARNINGS
Percentage of Total Earnings
1 9 .8
1 9 .0
1 5 .8
1 5 .1
1 3 .7
1 0 .9
1 4 .3
10. Interest and dividends on other securities...........................
8 .2
8 .0
6 .9
7 .0
4 .9
3 .7
4 .9
4 .4
11. Earnings on loans1.......................................................................
6 0 .5
6 1 .8
6 1 .6
6 2 .6
5 6 .7
6 1 .4
6 3 .4
6 5 .1
12. Service charges on deposit accou nts.......................................
7 .2
7 .0
6 .9
6 .3
2 .0
3 .2
2 .1
2 .0
4 .3
4 .2
8 .8
9 .0
2 2 .7
2 0 .8
1 5 .3
1 5 .6
T otal earnings...........................................................................
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Trust department earnings2 {part o f item 1 3 )........................
2.2
3.0
8 .7
12.0
1 7 .8
1 8 .2
9 .3
9 .0
16. Salaries and w a ges........................................................................
2 7 .1
2 6 .1
3 1 .0
2 9 .3
2 8 .5
2 8 .8
2 4 .6
2 3 .9
17. Interest on time and savings deposits....................................
2 5 .7
2 6 .9
2 0 .2
1 9 .6
5 .5
5 .1
9 .0
8 .2
18. Other current expenses................................................................
2 1 .4
2 1 .0
2 4 .3
2 3 .4
2 1 .4
2 2 .0
1 9 .6
1 9 .4
9. Interest on United States G overnm ent securities..............
13. Other current earnings................................................................
14.
15.
1 2 .9
T ota l expenses...........................................................................
7 4 .2
7 4 .0
7 5 .5
7 2 .3
5 5 .4
5 5 .9
5 3 .2
5 1 .5
20. N et current earnings before income taxes............................
2 5 .8
2 6 .0
2 4 .5
2 7 .7
4 4 .6
4 4 .1
4 6 .8
4 8 .5
- 3 .4
-1 3 .6
+
0 .6
-1 4 .4
-
2 .3
-
-
3 .6
-
-
0 .6
19.
21. N et profits and recoveries ( + ) or losses ( —) 3 ..................
-
5 .8
-
2 .5
-
4 .4
22. N et increase
-
1 .1
- 2.0
-
2 .0
( —)
or decrease
(+ )
in valuation reserves4..
23. Taxes on net in com e....................................................................
24.
N et p rofits..................................................................................
-
0 .4
0 .7
1 .3
5 .2
6 .3
6 .7
8 .2
1 6 .1
2 0 .1
1 2 .9
2 1 .0
1 3 .7
1 5 .2
1 1 .4
1 5 .7
1 4 .2
21.0
1 8 .2
2 4 .6
RATES O F RETURN O N SECURITIES AN D LOANS
Return on Securities
3 .1 3
25. Interest on United States G overnm ent securities..............
2 .8 5
26. Interest and dividends on other securities...........................
2 .6 9
2 .8 6
0 .5 1 -
0 .0 5
5 .9 9
6 .0 8
0 .1 0 -
0 .1 5
27. N et profits & re cov eries(+ )or losses(—)on total securities6
-
Return on Loans
28. Earnings on loans1 .......................................................................
29. N et losses ( —) or recoveries ( + ) on loans6 ........................
-
2 .8 3
-
-
3 .0 1
3 .0 2
3 .0 3
2 .8 4
2 .9 4
3 .2 4
2 .8 6
3 .2 4
3 .5 6
0 .4 4
a
5 .6 9
5 .9 9
5 .0 8
5 .5 2
4 .7 8
0 .1 5 -
0 .3 0 -
0 .0 6 -
0 .1 3
0.00
-
1 .5 1 + 0 .6 0
-
2 .5 1
3 .2 8
3 .0 6
+
0 .1 8
5 .1 2
-
0 .3 2
DISTRIBUTION OF ASSETS
Percentage of Total Assets
30. United States G overnm ent securities.....................................
2 8 .3
2 6 .3
2 3 .5
2 3 .0
2 0 .0
1 6 .8
1 8 .4
31. Other securities..............................................................................
1 2 .5
1 2 .1
9 .0
9 .2
7 .5
6 .0
6 .1
5 .6
32. L oa n s.................................................................................................
4 3 .0
4 5 .5
4 6 .3
4 8 .0
4 7 .5
5 0 .5
4 8 .3
4 9 .5
33.
Cash assets......................................................................................
1 4 .7
1 4 .5
1 9 .2
1 8 .0
2 2 .6
2 4 .4
2 3 .8
2 5 .5
34. Real estate assets..........................................................................
1 .3
1 .3
1 .2
1 .2
0 .6
0 .6
0 .8
0 .8
35. Capital accounts to total a ssets...............................................
8 .5
8 .6
7 .2
8 .4
9 .8
9 .4
9 .3
9 .3
36. C apital accounts to total assets, less United States
G overnm ent securities and cash assets.............................
1 5 .6
15.1
1 3 .1
1 5 .0
1 7 .3
1 6 .0
1 5 .9
1 5 .6
37. C apital accou nts to total d ep osits...........................................
9 .5
9 .6
8 .0
9 .4
1 1 .6
1 0 .8
1 0 .9
1 1 .1
38. Tim e to total d ep osits.................................................................
4 9 .2
5 0 .0
3 3 .1
3 6 .9
1 9 .2
1 8 .0
15 .6
1 3 .9
1 5 .3
CAPITAL AN D DEPOSIT RATIOS
39. Interest on time deposits............................................................
2 .3 7
2 .6 0
2 .7 7
40. T ota l dep osits.................................................................................
87,060
9 3 ,2 9 5
5 8 ,2 0 8
41. C apital a cco u n ts ............................................................................
8 ,7 3 6
9 ,4 8 0
4 ,4 8 0
2 .6 7
1 .8 7
1 .9 6
2 .3 6
2 .6 3
AVERAGE BANK IN GROUP— In thousands of dollars
* See page 11 for this note and other note references in this table.
4 2 ,6 8 1 2S2.383 2 6 7 ,0 6 2 3 ,5 2 1 ,6 5 1 3 ,6 0 9 .8 1 7
4,12S
31,495
2 9 ,2 1 3
3 8 8 ,5 8 2
4 0 3 ,1 6 4
5
1 9 6 0 Average Operating Ratios o f Second District Member Banks
in Group I — Deposits under $ 2 Million
N o te :
G ro u p average
B alan ce-sh eet figures used as a basis fo r th e 1960 ratios are
averages o f am ou n ts rep orted fo r D e ce m b e r 81, 1959,
M a rch 15, 1960, Ju n e 15, 1960, O cto b e r 3, 1960, and
D ecem b e r 31, 1960.
SUMMARY RATIOS
N u m b e r o f b a n k s...........
1959
1960
42
38
L o a n s t o to t a l assets, per cen t — 1960
0 - 3 4 .9
A
3 5 - 4 4 .9
B
4 5 - 5 4 .9
C
8
14
11
55 a n d up
D
YOUR
BANK
5
Percentage of Total Capital Accounts
1.
N et current earnings before incom e ta x es............................
1 0 .3
1 1 .3
9 .3
1 1 .1
1 2 .8
2.
Profits before incom e ta x es........................................................
8 .2
9 .0
7 .4
8 .7
1 0 .7
8 .4
3.
N e t p rofits.......................................................................................
6 .3
6 .7
5 .5
6 .5
8 .3
5 .6
4.
Cash dividends declared.............................................................
2 .0
2 .0
1 .7
1 .7
2 .4
2 .7
1 1 .5
Percentage of Total Assets
5. T ota l earnings................................................................................
4 .1 2
4 .4 8
3 .9 4
4 .2 8
4 .8 4
5 .1 3
6. T ota l expenses................................................................................
3 .0 2
3 .2 5
2 .8 9
3 .1 0
3 .4 8
3 .7 7
7. N et current earnings before incom e taxes............................
1 .1 0
1 .2 3
1 .0 5
1 .1 8
1 .3 6
1 .3 6
8. N et p rofits.......................................................................................
0 .6 9
0 .7 1
0 .6 3
0 .6 5
0 .8 9
0 .6 6
SOURCES AN D DISPOSITION OF EARNINGS
Percentage of Total Earnings
9. Interest on United States G overnm ent securities..............
2 3 .3
2 3 .2
3 4 .5
2 5 .1
1 8 .8
10. Interest and dividends on oth er securities...........................
8 .4
8 .7
1 7 .3
7 .8
5 .1
5 .3
11. Earnings on loa n s1........................................................................
5 9 .6
5 9 .7
3 9 .0
5 9 .3
6 7 .0
7 7 .7
12. Service charges on deposit a ccou n ts.......................................
6 .3
6 .3
7 .1
5 .8
6 .9
5 .0
13. O ther current earnings................................................................
2 .4
2 .1
2 .1
2 .0
2 .2
2 .8
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
15. Trust department earnings2 (part o f item 1 3 )........................
b
b
b
b
b
b
16. Salaries and w a ges........................................................................
2 9 .8
2 8 .2
2 7 .5
2 7 .0
2 9 .7
2 9 .6
17. Interest on time and savings d e p o s its ..................................
2 3 .1
2 4 .7
2 9 .3
2 5 .0
2 3 .3
1 9 .8
18. O ther current expenses ...................................................................
2 0 .4
2 0 .0
1 6 .9
2 0 .4
1 9 .6
2 4 .9
19.
T otal expenses............................................................................
7 3 .3
7 2 .9
7 3 .7
7 2 .4
7 2 .6
7 4 .3
20. N et current earnings before income taxes............................
2 6 .7
21.1
2 6 .3
2 7 .6
2 7 .4
14.
21.
T ota l earnings............................................................................
N et profits and recoveries ( + ) or losses ( —) 3 ..................
22. N et increase ( —) o r decrease ( + ) in valuation reserves4 . .
2 .8
-
5 .9
-
3 .9
-
9 .5
-
3 .2
-
-
2 .0
+
0 .3
-
0 .3
+
2 .4
-
1 .0
-
N et p rofits..................................................................................
1 0 0 .0
2 5 .7
-
23. Taxes on net in com e....................................................................
24.
9 .2
5 .3
1 .6
4 .9
5 .6
5 .6
5 .4
5.5
6 .4
1 7 .0
1 5 .9
1 6 .5
15.1
17.7
1 2 .4
RATES OF RETURN O N SECURITIES AND LOANS
Return on Securities
25. Interest on United States Governm ent securities..............
2 .8 9
3 .3 3
3 .2 6
3 .3 2
3 .4 2
26. Interest and dividends on other securities...........................
2 .8 0
3 .0 6
3 .5 2
3 .2 3
2 .7 1
27. N e t profits & recoveries( + ) or losses(—)on total securities5
-
Return on Loans
28. Earnings on loans1 .......................................................................
29. N et losses ( —) or recoveries ( + ) on loans6 ........................
0 .1 8
-
0 .2 1
-
0 .3 6
6 .4 0
-
0 .1 3
-
0 .2 2
-
0 .2 4
-
6 .3 4
6 .4 6
0 .3 7
-
0 .1 0
-
0 .1 2
6 .2 5
-
0 .6 0
3 .2 8
2 .5 9
+
0 .0 2
-
0 .4 6
6 .7 3
6 .6 5
DISTRIBUTION OF ASSETS
Percentage of Total Assets
30. U nited States G overnm ent securities....................................
3 2 .0
3 0 .2
4 1 .6
3 2 .2
2 6 .4
31. Other securities ..................................................................................
1 1 .4
1 1 .4
1 8 .2
1 0 .2
8 .8
9 .7
32. L o a n s.................................................................................................
3 8 .8
4 1 .9
2 4 .3
4 0 .6
4 8 .1
5 9 .7
33.
Cash assets......................................................................................
1 6 .8
1 5 .5
1 5 .2
1 5 .9
1 5 .6
1 4 .7
34. Real estate assets..........................................................................
0 .9
0 .9
0 .6
1 .0
0 .9
1 .3
35. Capital accounts to total assets...............................................
11.0
11.0
1 1 .4
11.0
1 0 .8
1 1 .8
36. Capital accounts to total assets, less United States
G overnm ent securities and cash assets.............................
2 2 .6
2 1 .4
2 3 .5
2 1 .3
1 8 .5
1 6 .7
37. C apital accounts to total d ep osits...........................................
1 2 .5
12 .7
1 3 .0
1 2 .6
1 2 .2
1 3 .6
38. T im e to total d ep osits.................................................................
4 6 .9
4 7 .4
4 8 .8
4 5 .9
4 9 .5
4 5 .1
1 4 .5
CAPITAL AND DEPOSIT RATIOS
39.
Interest on tim e deposits............................................................
2 .1 5
2 .4 5
2 .3 5
2 .4 4
2 .4 9
2 .5 5
AVERAGE BANK IN GROUP— In thousands of dollars
40. T otal dep osits.................................................................................
1 ,4 8 4
1 ,4 7 9
1 ,6 4 8
1 ,4 5 6
1 ,4 6 0
1 ,3 1 2
41. Capital a cco u n ts............................................................................
184
185
211
180
178
176
1 See page 11 for this note and other note references in this table.
6
1 9 6 0 Average Operating Ratios o f Second District Member Banks
in Group II — Deposits o f $2 Million to $ 5 Million
N o te :
G ro u p average
B alan ce-sh eet figures used as a basis fo r th e 1960 ratios are
averages o f am ou n ts rep orted fo r D e ce m b e r 3 1 , 1959,
M a rch 15, 1960, Ju n e 15, 1960, O cto b e r 3 , 1960, and
D ecem b er 31, 1960.
SUMMARY RATIOS
N u m b e r o f b a n k s ...........
L o a n s t o to ta l assets, p e r cent— 1960
0 - 3 4 .9
A
3 5 - 4 4 .9
B
4 5 - 5 4 .9
C
5 5 a n d up
D
110
16
39
32
23
1959
1960
118
YOUR
BANK
Percentage of Total Capital Accounts
1. N et current earnings before incom e taxes............................
1 1 .6
1 1 .8
1 0 .7
1 0 .7
1 1 .5
1 4 .7
2. Profits before incom e ta xes.......................................................
8 .9
* 9 .9
9 .5
9 .4
9 .6
1 1 .7
3. N e t p rofits.......................................................................................
6 .4
7 .8
7 .4
7 .3
6 .9
8 .1
4. Cash dividends declared.............................................................
2 .4
2 .7
2 .6
2 .5
2 .9
2 .7
Percentage of T c ^ .l Assets
5. T ota l earnings................................................................................
4 .1 8
4 .4 1
3 .8 9
4 .1 9
4 .6 0
4 .8 7
6. T otal expenses................................................................................
3 .0 9
3 .2 9
2 .9 2
3 .1 8
3 .4 8
3 .4 9
7. N et current earnings before income taxes............................
1 .0 9
1 .1 2
0 .9 7
1 .0 1
1 .1 2
1 .3 8
8. N et p rofits.......................................................................................
0 .0 1
0 .7 0
0 .6 8
0 .6 9
0 .6 7
0 .7 7
SOURCES A N D DISPOSITION OF KARNINGS
Percentage of Total Earnings
Interest on United States G overnm ent securities..............
2 0 .9
2 1 .5
3 6 .5
2 4 .0
1 7 .2
10. Interest and dividends on other securities...........................
9.
7 .7
7 .2
1 0 .7
8 .7
5 .7
4 .2
11. Earnings on loans1.......................................................................
6 2 .6
6 2 .8
4 3 .5
5 8 .1
6 8 .4
7 6 .3
12. Service charges on deposit accou nts.......................................
6 .4
6 .3
6 .6
7 .1
6 .0
5 .3
13. Other current earnings................................................................
2 .4
2 .2
2 .7
2 .1
2 .7
1 .4
T ota l earnings............................................................................
1 0 0 .0
1 0 0 .0
1 0 0 .0
10 0 .0
1 0 0 .0
1 0 0 .0
15. Trust department earnings2 (part o f item 1 3 )........................
0 .8
1 .5
2 .3
0 .6
1 .2
16. Salaries and w a ges........................................................................
2 7 .3
2 6 .2
2 6 .1
2 7 .3
2 6 .8
2 3 .6
17. Interest on time and savings d e p o s its ..................................
2 6 .3
2 8 .5
3 0 .4
2 7 .8
2 8 .7
2 8 .3
18. O ther current expenses................................................................
2 0 .6
2 0 .3
1 8 .6
2 0 .9
2 0 .4
2 0 .2
19.
7 4 .2
7 5 .0
7 5 .1
7 6 .0
7 5 .9
7 2 .1
14.
T otal expenses............................................................................
20. N et current earnings before incom e taxes............................
2 5 .8
2 5 .0
2 4 .9
2 4 .0
1 2 .8
2 4 .1
2 7 .9
21. N e t profits and recoveries ( + ) or losses ( —) 3 ..................
-
4 .6
-
2 .6
-
1 .7
-
1 .6
-
3 .0
-
22. N et increase ( —) or decrease ( - f ) in valuation reserves4. .
-
1 .0
-
1 .2
-
0 .9
-
1 .5
-
1 .0
-
23. Taxes on net in com e....................................................................
24.
N et p rofits..................................................................................
1 0 0 .0
b
4 .4
1 .1
5 .5
5 .5
4 .9
4 .6
5 .8
6 .9
1 4 .7
1 5 .7
1 7 .4
1 6 .3
1 4 .3
1 5 .5
RATES O F RETURN O N SECURITIES AN D LOANS
Return on Securities
25. Interest on U nited States G overnm ent securities..............
2 .8 5
3 .3 1
3 .4 1
3 .1 9
3 .2 3
3 .5 4
26. Interest and dividends on other securities...........................
2 .8 3
2 .9 4
3 .0 9
2 .9 2
2 .8 7
2 .9 5
27. N e t profits & recoveries(-f-)or losses(—)on total securities5
-
0 .32
-
0 .1 3
-
0 .0 8
-
0 .0 6
-
0 .0 8
-
0 .0 2
-
0 .0 9
-
0 .1 4
-
0 .2 0
-
0 .2 7
Return on Loans
28. Earnings on loa n s1.......................................................................
29. N et losses ( —) or recoveries ( + ) on loans6 ........................
6 .1 1
6 .1 3
-
0 .1 5
5 .9 2
6 .0 6
-
0 .1 1
6 .2 5
6 .2 3
DISTRIBUTION OF ASSETS
Percentage of Total Assets
30. United States G overnm ent securities....................................
2 9 .5
2 8 .0
4 0 .9
3 1 .6
2 4 .5
31. Other securities..............................................................................
1 1 .2
1 0 .8
1 4 .8
1 2 .6
9 .2
7 .3
32. L oa n s.................................................................................................
4 3 .2
4 5 .6
2 8 .7
4 0 .3
5 0 .3
5 9 .7
33. Cash assets......................................................................................
1 4 .6
1 4 .1
1 4 .5
1 4 .4
1 4 .2
1 3 .4
1 .3
1 .4
1 .0
1 .0
1 .7
1 .7
1 0 .4
9 .4
1 3 .7
34.
Real estate a ssets..........................................................................
1 7 .9
CAPITAL AN D DEPOSIT RATIOS
35. C apital accounts to total assets...............................................
9 .8
9 .8
9 .4
9 .6
36. Capital accounts to total assets, less United States
G overnm ent securities and cash assets.............................
1 8 .5
1 7 .8
2 4 .9
1 8 .0
1 7 .0
37. C apital accou nts to total dep osits...........................................
1 0 .9
11.0
1 0 .6
1 0 .8
1 1 .8
1 0 .5
38. T im e to total d e p osits.................................................................
5 0 .9
5 2 .5
5 0 .4
4 8 .9
5 5 .0
5 6 .0
39. Interest on tim e deposits............................................................
2 .3 4
2 .6 0
2 .6 0
2 .5 1
2 .6 6
2 .6 8
AVERAGE BANK IN GROUP— In thousands of dollars
40. T ota l dep osits.................................................................................
3 ,3 6 3
3 ,4 4 3
3,4 1 1
3 ,4 3 1
3 ,3 2 1
3 ,6 5 8
41. Capital a cco u n ts............................................................................
360
371
349
366
376
385
' See page 11 for this note and other note references in this table.
7
1 9 6 0 Average Operating Ratios o f Second District Member Banks
in Group III — Deposits o f $ 5 Million to $ 2 0 Million
N o te :
G rou p average
B a lan ce-sh eet figures used as a basis fo r th e 1960 ratios are
averages o f am ou n ts reported fo r D e ce m b e r 8 1 , 1959,
M a r c h 15, 1960, Ju n e 15, 1060, O cto b e r 3, 1960, and
D ecem b e r 81, 1960.
SUMMARY RATIOS
Number o f banka.........
L o a n s t o to ta l assets, per ce n t— 1960
1959
1960
0 - 8 4 .9
A
3 5 - 4 4 .9
B
4 6 -5 4 .9
C
55 a n d up
D
205
201
30
72
80
19
YOUR
BANK
Percentage off Total Capital Account*
1. N et current earnings before incom e taxes............................
1 2 .7
1 3 .4
12 .2
1 2 .9
1 3 .9
1 4 .8
2. Profits before incom e ta x es........................................................
9 .4
1 0 .8
1 1 .0
1 0 .6
1 1 .1
9 .4
3. N et p rofits.......................................................................................
6 .8
8 .0
8 .8
8 .0
7 .9
6 .5
4. Cash dividends declared.............................................................
2 .8
2 .9
3 .1
2 .9
2 .9
3 .1
Percentage of Total Assets
5. T otal earnings................................................................................
4 .1 8
4 .4 0
3 .8 2
4 .2 1
4 .6 6
4 .9 4
6. T otal expenses................................................................................
3 .1 7
3 .3 3
2 .8 8
3 .2 2
3 .5 3
3 .6 5
7. N et current earnings before incom e taxes............................
1 .0 1
1 .0 7
0 .9 4
0 .9 9
1 .1 3
1 .2 9
8. N e t p rofits.......................................................................................
0 .5 3
0 .6 4
0 .6 7
0 .6 2
0 .6 4
0 .6 9
SOURCES AN D DISPOSITION O F EARNINGS
Percentage of Total Earnings
9. Interest on United States G overnm ent securities..............
2 0 .4
1 9 .8
3 0 .9
2 1 .9
1 5 .7
10. Interest and dividends on other securities...........................
8 .6
8 .7
1 3 .2
9 .7
7 .0
4 .7
11. Earnings on loa n s1.......................................................................
5 9 .3
6 0 .4
4 2 .8
6 6 .8
6 6 .6
7 5 .4
12. Service charges on deposit accou nts.......................................
7 .9
7 .6
9 .6
8 .0
6 .9
5 .6
13. Other current earnings................................................................
3 .8
3 .5
3 .5
3 .6
3 .8
2 .9
1 1 .4
14.
T o ta l earnings............................................................................
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
IS.
Trust department earnings* {part o f item 1 3 )........................
1 .8
1 .7
1 .1
1 .9
1 .7
2 .2
16. Salaries and w a ges........................................................................
2 6 .2
2 5 .4
2 5 .9
2 5 .1
2 5 .8
2 4 .1
17. Interest on time and savings d e p o s its ..................................
2 8 .4
2 9 .5
2 9 .3
3 1 .0
2 8 .4
2 8 .4
18. O ther current expenses................................................................
2 1 .4
2 1 .0
2 0 .2
2 0 .5
2 1 .5
2 1 .7
19.
T otal expenses...........................................................................
7 6 .0
7 5 .9
7 5 .4
7 6 .6
7 5 .7
7 4 .2
20. N et current earnings before income taxes............................
2 4 .0
2 4 .1
2 4 .6
2 3 .4
2 4 .3
2 5 .8
21.
N et profits and recoveries (-{-) or losses ( —) 3 ..................
22. N e t increase ( —) or decrease ( + ) in valuation reserves4. .
-
5 .3
-
2 .6
-
2 .4
-
2 .4
-
2 .4
-
3 .2
-
0 .9
-
2 .0
-
0 .2
-
1 .6
-
2 .3
-
5 .1
23. Taxes o n net in com e....................................................................
24.
N et p rofits...................................................................................
5 .0
5 .1
4 .4
4 .6
5 .6
5 .3
1 2 .8
1 4 .6
1 7 .6
1 4 .8
1 4 .0
1 2 .2
1 0 0 .0
RATES O F RETURN O N SECURITIES AND LOANS
Return on Securities
25. Interest on United States Governm ent securities..............
2 .8 5
8 .0 9
3 .1 0
3 .0 7
3 .1 1
26. Interest and dividends on other securities...........................
2 .6 0
2 .8 2
2 .8 7
2 .8 3
2 .7 2
27.
N et profits & recoveries( + ) or losses(—)on total securities6
-
0 .4 1
-
0 .09
Return on Loans
28. Earnings on loa n s1........................................................................
29. N e t losses ( —) or recoveries ( + ) on loans8 ........................
-
0 .07
-
0 .1 3
-
0 .0 5
-
0 .1 1
6 .0 5
5 .9 6
-
0 .1 2
-
0 .0 8
6 .6 5
-
0 .0 8
-
0 .1 4
5 .9 4
8 .0 4
8 .1 4
+
0 .1 9
-
0 .8 1
6 .2 5
6 .3 0
DISTRIBUTION OF ASSETS
Percentage of Total Assets
30. U nited States G overnm ent securities....................................
2 9 .0
2 7 .8
3 7 .6
3 0 .0
2 3 .2
31. Other securities..............................................................................
1 3 .5
1 8 .1
1 7 .8
1 4 .2
1 1 .7
7 .7
32. L o a n s.................................................................................................
4 1 .8
4 4 .1
2 9 .1
4 0 .3
4 9 .6
5 9 .3
33. Cash assets......................................................................................
1 4 .1
1 3 .9
1 4 .3
1 3 .9
1 3 .8
1 3 .2
34. Real estate assets..........................................................................
1 .4
1 .4
1 .0
1 .4
1 .5
1 .3
9 .0
1 8 .3
CAPITAL AND DEPOSIT RATIOS
35. Capital accounts to total assets...............................................
8 .1
8 .2
8 .1
7 .9
8 .3
36. Capital accounts to total assets, less United States
G overnm ent securities and cash assets.............................
1 4 .7
1 4 .6
1 9 .3
1 4 .1
1 3 .8
1 3 .2
37. C apital accou nts to total d ep osits...........................................
9 .0
9 .1
9 .1
8 .7
9 .3
1 0 .2
38. T im e t o total d ep osits.................................................................
5 3 .0
5 3 .7
5 0 .1
5 4 .2
5 3 .6
5 8 .5
39.
Interest on tim e dep osits............................................................
2 .4 1
2 .6 1
2 .3 9
2 .6 1
2 .6 8
2 .6 1
AVERAGE BANK IN GROUP— In thousands of dollars
40. T ota l d e p osits.................................................................................
10,438
1 0 ,7 5 8
1 0 ,5 2 0
1 1 ,1 6 6
1 0 ,8 2 2
9 ,3 1 8
41. C apital a ccou n ts............................................................................
917
959
897
963
984
942
1 See page 11 for this note and other note references in this table.
8
1 9 6 0 Average Operating Ratios o f Second District Member Banks
in Group IV — Deposits o f $ 2 0 Million to $ 5 0 Million
N o t* :
B a lan ce-sheet figures used as a basis fo r th e 1960 ratios are
averages o f am ou n ts rep orted fo r D e ce m b e r 3 1 , 1959,
M a rch 15, 1960, Ju n e 1 5 , 1960, O cto b e r 3, 1960, and
D e ce m b e r 81, 1960.
SUMMARY RATIOS
L oans t o to ta l assets, per c e n t --1 9 6 0
G rou p average
1959®
N u m b e r o f b a n k s ...........
0 - 3 4 .9
A
3 5 - 4 4 .9
B
4 5 - 5 4 .9
C
64
5
15
35
1960
121
55 a n d up
D
YOUR
BANK
9
Percentage off Total Capital Account*
1. N e t current earnings before incom e taxes............................
1 6 .6
1 6 .0
1 3 .1
1 7 .3
1 5 .9
1 5 .8
2.
Profits before incom e ta x es.......................................................
1 0 .6
1 3 .3
1 2 .7
1 4 .3
1 3 .6
1 1 .1
3.
N et p rofits.......................................................................................
7 .9
9 .5
1 0 .6
1 0 .7
9 .4
7 .2
4. Cash dividends declared.............................................................
4 .0
3 .5
2 .1
3 .8
3 .5
3 .9
5. T ota l earnings................................................................................
4 .3 8
4 .4 8
3 .5 3
4 .3 5
4 .5 7
4 .8 8
6. T ota l expenses................................................................................
3 .2 2
3 .3 1
2 .4 7
3 .1 6
3 .3 8
3 .7 3
7. N e t current earnings before income taxes............................
1 .1 6
1 .1 7
1 .0 6
1 .1 9
1 .1 9
1 .1 5
8. N e t p rofits.......................................................................................
0 .5 6
0 .7 0
0 .8 6
0 .7 5
0 .7 1
0 .5 4
Percentage of Total Assets
SOURCES A N D DISPOSITION OF EARNINGS
Percentage of Total larnlngs
Interest on United States G overnm ent securities..............
17 .1
1 5 .9
2 4 .8
1 8 .7
1 4 .5
10. Interest and dividends on other securities...........................
9.
8 .2
9 .1
1 6 .6
1 2 .3
7 .7
4 .6
11. Earnings on loans1.......................................................................
6 1 .1
6 2 .5
4 4 .9
5 5 .3
6 5 .4
7 2 .6
12. Service charges on deposit accou nts.......................................
7 .7
7 .9
1 0 .7
8 .7
7 .4
6 .9
13. Other current earnings................................................................
5 .9
4 .6
3 .0
5 .0
5 .0
4 .4
1 1 .5
14.
T o ta l earnings...........................................................................
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
IS.
Trust department earnings2 (part o f item 1 3 )........................
3 .1
2 .4
0 .8
3 .3
2 .5
1 .9
16. Salaries and w ages........................................................................
2 7 .2
2 5 .8
2 6 .7
2 4 .0
2 6 .1
2 7 .3
17. Interest on time and savings d e p o s its ..................................
2 4 .1
2 7 .0
2 4 .9
2 8 .0
2 6 .7
2 7 .3
18. Other current expenses................................................................
2 2 .4
2 1 .1
1 8 .5
2 0 .9
2 1 .3
2 1 .9
7 3 .7
7 3 .9
7 0 .1
7 2 .9
7 4 .1
7 6 .5
19.
T o ta l expenses...........................................................................
20. N et current earnings before incom e taxes............................
2 6 .3
2 6 .1
2 9 .9
2 7 .1
2 5 .9
2 3 .5
21. N et profits and recoveries ( + ) or losses ( —) 3 ..................
-
7 .7
-
1 .5
+
0 .9
-
1 .8
-
1 .3
-
3 .0
22. N et increase ( —) or decrease ( + ) in valuation reserves4. .
-
1 .4
-
2 .7
-
1 .6
-
2 .4
-
2 .7
-
3 .4
23. Taxes o n net in com e....................................................................
24.
N e t p rofits..................................................................................
1 0 0 .0
4 .3
6 .1
4 .7
5 .7
6 .4
6 .0
1 2 .9
1 5 .8
2 4 .5
1 7 .2
1 5 .5
1 1 .1
RATES O F RETURN O N SECURITIES A N D LOANS
Return on Securities
25. Interest on United States Governm ent securities..............
2 .8 4
2 .9 5
2 .7 7
3 .1 4
2 .9 1
26. Interest and dividends on other securities...........................
2 .6 1
2 .7 5
2 .6 9
2 .8 7
2 .7 4
27. N e t profits & recoveries( + ) or losses(—)on total securities5
-
0 .8 1
-
0 .0 7
Return on Loans
28. Earnings on loans1.......................................................................
29. N et losses ( —) or recoveries ( + ) on loans6 ........................
-
0 .0 8
-
0 .0 8
6 .9 3
+
6 .0 0
0 .1 0
-
5 .6 2
-
0 .0 8
0 .1 0
-
0 .0 4
-
0 .0 7
5 .8 9
-
0 .0 8
2 .8 5
2 .6 5
-
0 .2 8
-
0 .1 0
6 .0 4
6 .1 9
DISTRIBUTION OF ASSETS
Percentage of Total Assets
30. United States G overnm ent securities.....................................
2 5 .9
2 3 .6
3 1 .3
2 5 .8
2 2 .6
3 1.
Other securities..............................................................................
13 .1
1 4 .3
2 2 .4
1 8 .5
1 2 .8
8 .4
32. L oan s.................................................................................................
4 5 .2
4 6 .8
2 8 .1
4 0 .8
4 9 .4
5 7 .2
33. Cash assets......................................................................................
13 .9
1 3 .5
1 7 .1
1 3 .2
1 3 .4
1 2 .8
34. Real estate assets..........................................................................
1 .4
1 .5
1 .0
1 .3
1 .5
1 .8
7 .1
7 .6
8 .1
7 .1
7 .7
7 .5
1 1 .7
1 2 .1
1 5 .7
1 1 .6
1 2 .1
11.0
7 .8
8 .4
9 .0
7 .8
8 .6
8 .3
4 6 .6
4 9 .9
4 2 .4
4 9 .1
4 9 .9
5 4 .9
1 9 .5
CAPITAL AND DEPOSIT RATIOS
35. Capital accounts to total assets...............................................
36. Capital accounts to total assets, less United States
G overnm ent securities and cash assets.............................
37. Capital accounts to total dep osits...........................................
38. T im e to total dep osits.................................................................
39. Interest on time deposits............................................................
2 .4 3
2 .6 4
2 .1 4
2 .7 0
2 .6 8
2 .6 7
AVERAGE BANK IN GROUP— In thousands of dollars
40. T o ta l dep osits.................................................................................
9 3 ,1 3 8
3 1 ,6 6 1
2 7 ,8 9 5
3 5 ,7 1 5
2 9 ,8 8 0
3 3 ,9 2 7
41. Capital a ccou n ts............................................................................
7 ,1 2 5
2 ,6 2 2
2 ,5 1 3
2 ,7 3 1
2 ,5 5 8
2 ,7 5 3
1 See page 11 for this note and other note references in this table.
9
1 9 6 0 Average Operating Ratios o f Second District Member Banks
in Group V — Deposits o f $ 5 0 Million or over
N o te :
B alan ce-sh eet figures used as a basis fo r th e 1960 ratios are
averages o f am ou n ts rep orted fo r D e ce m b e r 31, 1959,
M a r c h 15, 1960, June 15, 1960, O cto b e r 3, 1960, and
D ecem b e r 31, 1960.
G ro u p average
1 95 9'
Number o f banks
SUMMARY RATIOS
1960
121
Loans t o to ta l assets, p e r cen t - 1 9 6 0
0 -3 4 .9
A
56
3 5 - 4 4 .9
B
0
4 5 - 5 4 .9
C
15
55 an d up
D
26
YOUR
BANK
15
Percentage of Total Capital Accounts
1. N e t current earnings before incom e taxes............................
1 6 .6
1 9 .2
1 7 .0
1 9 .2
2 1 .2
2. Profits before incom e ta x es........................................................
1 0 .6
1 5 .2
1 3 .3
15 .1
1 7 .1
3. N e t p rofits.......................................................................................
7 .9
9 .1
8 .9
9 .1
9 .2
4. Cash dividends declared.............................................................
4 .0
4 .7
4 .3
5 .0
4 .6
Percentage of Total Assets
5. T ota l earn ings................................................................................
4 .3 8
4 .7 3
4 .2 4
4 .7 3
5 .2 2
6. T ota l expenses................................................................................
3 .2 2
3 .3 9
3 .1 4
3 .3 7
3 .6 8
7. N e t current earnings before incom e taxes.............................
1 .1 6
1 .3 4
1 .1 0
1 ,3 6
1 .5 4
8. N et p rofits.......................................................................................
0 .5 6
0 .6 4
0 .5 8
0 .6 5
0 .6 7
SOURCES A N D DISPOSITION O F EARNINGS
Percentage of Total Earnings
9. Interest on United States G overnm ent securities..............
17 .1
1 4 .6
2 0 .5
1 3 .8
10. Interest and dividends on other securities...........................
8 .2
6 .5
8 .9
6 .9
3 .3
11. Earnings on loa n s1........................................................................
6 1 .1
6 5 .3
5 7 .0
6 5 .7
7 2 .7
12. Service charges on deposit a ccou n ts.......................................
7 .7
7 .0
13. O ther current earnings.................................................................
5 .9
6 .6
J*
0}
O
1 0 0 .0
1 0 0 .0
W
H
item 1 3 )........................
3 .1
3 .5
16. Salaries and w a ges........................................................................
2 7 .2
2 7 .2
17. Interest on tim e and savings deposits....................................
2 4 .1
18. O ther current expenses................................................................
19.
14.
T o ta l earn ings............................................................................
1 0 .3
6 .6
7 .2
6 .8
7 .0
6 .4
6 .9
1 0 0 .0
1 0 0 .0
1 0 0 .0
O
4 .3
3 .4
3 .1
2 7 .5
2 7 .2
2 6 .8
2 1 .5
'H
H
oo
•<
2 3 .0
2 1 .0
2 0 .8
2 2 .4
2 3 .2
O
2 3 .6
2 3 .0
2 3 .2
T o ta l expenses............................................................................
7 3 .7
7 1 .9
£
7 4 .1
7 1 .2
7 0 .8
20. N et current earnings before incom e taxes............................
2 6 .3
2 8 .1
q
2 5 .9
2 8 .8
2 9 .2
15. Trust department earnings2 (part
of
<
"
■
21. N et profits and recoveries ( + ) or losses ( —) * ..................
-
7 .7
-
1 .1
2
-
2 .7 .
-
0 .9
+
0 .3
22. N et increase
-
1 .4
-
4 .5
H
-
2 .4 I
-
4 .9
-
6 .7
4 .3
9 .1
Z
1 2 .9
1 3 .4
(—)
or decrease
(+ )
in valuation reserves4. .
23. Taxes on n et in com e....................................................................
24.
N et p rofits...................................................................................
m
7 .1
9 .1
1 1 .0
1 3 .7
1 3 .9
1 2 .8
<
a
RATES O F RETURN O N SECURITIES AND LOANS
Return on Securities
o
25. Interest on United States G overnm ent securities..............
2 ,8 4
3 .0 1
2 .9 9
3 .0 0
3 .0 5
26. Interest and dividends on other securities...........................
2 .6 1
2 .7 0
2 .7 7
2 .7 3
2 .5 7
27. N et profits & recoveries( + ) or losses(—)on total securities5
-
0 .8 1
-
0 .07
Return on Loans
28. Earnings on loa n s1.......................................................................
29. N et losses ( —) o r recoveries ( + ) on loans6 .........................
1 0 0 .0
+
0 .0 9
-
0 .1 0
5 .9 3
-
0 .1 5
-
0 .1 0
6 .1 5
+
0 .0 8
-
0 .0 9
5 .8 1
+
0 .3 4
-
0 .1 0
6 .2 2
6 .3 7
DISTRIBUTION O F ASSETS
Percentage of Total Assets
30. United States G overnm ent securities.....................................
2 5 .9
2 2 .5
2 9 .1
2 1 .6
31. Other securities..............................................................................
1 3 .1
1 0 .8
1 3 .5
1 1 .7
6 .6
4 5 .2
5 0 .3
4 1 .7
4 9 .9
6 9 .7
33. Cash assets.......................................................................................
1 3 .9
1 4 .5
1 4 .1
1 4 .9
1 4 .1
34. Real estate assets..........................................................................
1 .4
1 .4
1 .2
1 .4
1 .6
35. Capital accounts to total assets...............................................
7 .1
7 .0
6 .5
7 .1
7 .4
36. Capital accounts to total assets, less United States
G overnm ent securities and cash assets..............................
1 1 .7
1 1 .2
1 1 .6
1 1 .2
1 0 .8
37. Capital accounts to total dep osits...........................................
7 .8
7 .8
7 .2
7 .9
8 .2
38. T im e to total dep osits.................................................................
4 6 .6
4 3 .6
4 1 .9
4 3 .6
4 5 .4
1 7 .6
CAPITAL AND DEPOSIT RATIOS
39.
Interest on tim e deposits............................................................
2 .4 3
2 .5 6
2 .5 4
2 .5 4
2 .6 2
AVERAGE BANK IN GROUP— In thousands of dollars
40. T ota l dep osits.................................................................................
9 3 ,1 3 8
17 9 ,2 1 9
1 7 5 ,1 0 9
15 9 ,4 0 3
2 1 7 ,6 7 6
41. Capital a ccou n ts............................................................................
7 ,1 2 5
1 3 ,8 7 4
1 3 ,1 7 4
1 2 ,4 4 9
1 7 ,0 4 5
1 See page 11 for this note and other note references in this table.
10
N O T E S T O P A G E S 5-10
* New York City banks include only those banks which
have their main office located in Manhattan. One trust com
pany was not included in the computation of average ratios.
1 Includes service charges and other fees on loans.
2 Banks not reporting this item or reporting negligible
amounts were excluded in computing this average.
3 Includes recoveries, charge-offs, profits, or losses charged
or credited to either undivided profits or valuation reserves.
4 Represents the net increase or decrease for the year in
valuation reserves against loans and investments. Calculated
by deducting the balances in Schedule D of the earnings and
dividends report at the end of the preceding year from the
balance on hand at the end of the current year.
5 Transfers to and from valuation reserves for losses on
securities excluded.
6 Transfers to and from valuation reserves for losses on
loans excluded.
a Less than 0.01 per cent.
b Averages are not shown when fewer than three banks
are in a group.
c The ratios in the 1959 column are of banks (121 in
number) with deposits of $20 million or over. For 1960,
banks with deposits of $20 million or over were segregated
into two groups, Group IV (64 banks with deposits of $20
million to $50 million) and Group V (56 banks with deposits
of $50 million or over); the 1960 ratios were computed
separately for each of the two groups.
Year-to-year comparisons by size-groups may be
affected by mergers and shifts of banks from one sizegroup to another.
N o te :
11
YOUR NOTES
@FedFRASER