The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
March 12, 1968 To All Member Banks of the Second Federal Reserve District: We are pleased to send you this report on the income and dividends and the operating ratios of our member banks for the year 1967, prepared by our Bank Examinations Department. The report is intended for use by your management in analyzing and making comparisons of your operations with those of banks in the same deposit grouping. Please note that in this report member banks outside New York City have been distributed within deposit size groups according to the proportion of time deposits to total deposits; in prior reports, such distribution was made according to the proportion of loans to total assets. If you should have any questions relating to this report, you may direct your inquiries to the Banking Studies Division of the Bank Examinations Department. Additional copies of this report are available upon request. A lfred H ayes, President. Federal Reserve Bank of New York CONTENTS Page Income, Expenses, and Dividends of Second District Member Banks......................................1 Tables Income, Expenses, and Dividends of Second District Member Banks, 1965-1967 . . . . 2 1967 Average Operating Ratios of Member Banks in the Second D istrict.............................. 4 1967 Average Operating Ratios of Second District Member Banks — In New York C it y ...................................................................................................................... 4 Outside New York City With Deposits under $5 Million .......................................................................................... 5 With Deposits of $5 Million to $20 M illion ........................................................................ 6 With Deposits of $20 Million to $50 M illion ...................................................................... 7 With Deposits of $50 Million and o v e r ................................................................................ 8 Notes to Pages 4 - 8 .......................................................................................................................... 9 Income, Expenses, and Dividends of Second District Mem ber Banks Summary Net income after taxes of all member banks in the Second Federal Reserve District advanced sharply in 1967 to $680.6 million, surpassing the 1966 level by $121.6 million, or 22 percent. The advance, the largest since 1960, resulted primarily from an increase in net current operating earnings of $98.7 million, or 9 percent, above the 1966 level, and a decline in losses and charge-offs on securities. Such losses and charge-offs were reduced by $137.3 million from sub stantial losses of $160.6 million incurred in 1966 when Second District member banks sold large volumes of securi ties at a loss to meet strong loan demands of business customers. An increase in 1967 of $84.9 million in income taxes partly offset the gains in income. rise of 24 percent in 1966. The 1967 increase in such revenues was due principally to a rise in average outstand ing net loans of 7 percent. By contrast, the 1966 increase in loan income reflected a 14 percent rise in average out standing net loans as well as a sizable increase in the effective rate of return. M A J O R OPERATING EXPENSES SECOND DISTRICT M EM BER BA N K S 1958-1967 Millions of dollars M illions of dollars O perating revenues Total current operating revenues of the Second District member banks rose by $394.6 million, or 10 percent, to a * C o m p a r a b le d a t a fo r th e s e tw o se rie s a re n o t a v a ila b le fo r y e a rs p r i o r to 1961 as a re s u lt o f c h a n g e s b e g in n in g in th a t y e a r in th e a c c o u n t in g fo r p e n s io n a n d h o s p ita liz a tio n e x p e n s e s a n d so c ia l s e c u rity ta xe s. Th e se e m p lo y m e n t-r e la t e d e x p e n se s a re in c lu d e d in " s a la rie s , w a g e s , a n d r e la t e d c o s ts " fo r the p u rp o s e s o f this c h a rt in s te a d o f in " o th e r e x p e n s e s " a s in p rio r p u b lic a t io n s of O p e r a t i n g Ratios. Increases were recorded for all other revenue categories as well, including income from U. S. Government securities, which showed an upturn for the first time since 1962. Earnings from Government securities amounted to $378.3 new high of $4.4 billion in 1967. Earnings on loans con tributed $232.4 million to the rise in revenues and topped the $3 billion level for the first time. The rise in loan income, however, amounted to only 8 percent as compared with a 1 million, a rise of $73.7 million, or 24 percent, for the year. This increase was concentrated in the New York City reserve city banks in which earnings from Government securities rose $69.0 million, or 39 percent. These large City banks had made substantial sales of Government securi ties in 1966 to meet the heavy loan demand of businesses, and they replaced these securities in 1967 with higher yield ing issues. Districtwide earnings on “ other securities,” con sisting primarily of tax-exempt State and municipal issues, increased 13- percent over the previous year, reflecting both larger holdings and higher rates of return. Service charges on deposit accounts, trust department income, and “ other operating revenue” showed increases of 7, 8, and 10 percent, respectively, in 1967. Operating expenses Most operating expense categories showed increases for 1967, contributing to a 10 percent rise in total current operating expense. Interest on time and savings deposits for all member banks remained the largest single expense item, increasing by $143.3 million in 1967. While this increase was more than 10 percent over last year’s level of interest payments on deposits, it fell far short of the larger increases of recent years, which have ranged between 23 percent and 42 percent per year since 1961. On the other hand, the growth in the total of wages, salaries, and related costs exceeded that of recent years; they mounted to $1.0 billion, an increase of $103.9 million, or 12 percent, over Income, Expenses, and Dividends of Second District Member Banks 1965-1967 (In millions of dollars) New York City reserve city banks All Second District member banks Item All other Second District member banks 1967 1966 1965 1967 1966 1965 1967 1966 1965 384* 399 409 12 12 12 372* 387 397 Current operating revenue: On U. S. Government securities....................................... On other securities............................................................ On loans (including service charges and fees on loans) .. Service charges on deposit accounts................................. Trust department earnings.............................................. Other current operating revenue.................................... 378.3 378.5 3,087.8 124.5 278.8 184.1 304.6 336.1 2,855.4 116.3 258.1 166.9 310.9 305.6 2,304.3 109.5 227.7 129.1 244.9 232.0 2,158.9 52.4 239.3 152.5 175.9 212.0 1,996.6 48.2 220.7 139.3 178.9 203.6 1,558.2 46.7 194.2 106.0 133.4 146.5 928.9 72.1 39.5 31.6 128.7 124.1 858.8 68.1 37.4 27.6 132.0 102.0 746.1 62.8 33.5 23.1 Total current operating revenue.................... 4,432.0 4,037.4 3,387.1 3,080.0 2,792.7 2,287.6 1,352.0 1,244.7 1,099.5 Current operating expenses: Salaries and wages—officers and employees.................... Pension, hospitalization, social security taxes, etc........... Interest on time and savings deposits............................. Interest and discount on borrowed money...................... Net occupancy expense of bank premises........................ Furniture and equipment—depreciation, rents, etc......... Other current operating expenses..................................... 844.6 156.6 1,522.8 89.7 190.0 80.1 374.6 752.8 144.5 1,379.5 112.3 176.7 67.7 329.0 687.4 129.6 1,073.6 70.7 161.0 60.6 279.6 554.5 111.6 1,037.4 83.3 127.1 45.2 229.7 484.5 101.8 951.7 99.7 118.1 37.2 195.0 438.2 92.1 710.7 63.4 106.8 33.5 156.7 290.1 45.0 485.4 6.4 62.9 34.9 144.9 268.3 42.7 427.8 12.6 58.6 30.5 134.0 249.2 37.5 362.9 7.3 54.2 27.1 122.9 Total current operating expenses.................. Net current operating earnings............................................ 3,258.4 1,173.6 2,962.5 1,074.9 2,462.5 924.6 2,188.8 891.2 1,988.0 804.7 1,601.4 686.2' 1,069.6 282.4 974.5 270.2 861.1 238.4 Net recoveries (+ ) or charge-offs ( —) on loans.................. Securities profits and recoveries (+ ) or charge-offs ( —) . . . All other recoveries (+ ) or charge-offs ( —) ........................ Net additions to ( —) or deductions from (+ ) valuation reserves for: Loan losses.................................................................... Securities losses............................................................. - 76 .9 - 23 .3 1.7 - 88.0 -160.6 - 3.1 - 59.1 - 3.6 - 0.6 - 49 .6 - 23 .6 + 0.3 - 59 .3 -143.0 + 0.2 - 40.1 + 0.8 - 2.3 - 27.3 + 0.3 - 2.0 - 28.7 - 17.6 - 3.3 - 19.0 - 4.4 + 1.7 -113.4 + 4.1 - 74.3 + 7.0 -172.0 + 21.3 - 97.5 - 0.2 - 60.8 + 2.4 -154.0 + 17.0 - 15.9 + 4.3 - 13.5 + 4.6 - 18.0 + 4.3 Net income before related taxes.......................................... Taxes on net income............................................................ 962.4 281.8 755.9 196.9 710.6 174.8 720.6 236.6 544.2 155.0 507.6 129.9 241.8 45.2 211.7 41.9 203.0 44.9 Net income..................................................... Dividends declared (including interest on debt capital).. . . Net income after dividends.................................................. 680.6 374.5 306.1 559.0 342.1 216.9 535.8 315.0 220.8 484.0 284.2 199.8 389.2 259.4 129.8 377.7 240.3 137.4 196.6 90.3 106.3 169.8 82.7 87.1 158.1 74.7 83.4 Averages of selected assets, deposits, and capital accounts of Second District member banks: Loans (net).................................................................... 51.302.0 8,396.9 U. S. Government securities......................................... Other securities............................................................. 10,603.7 Total assets................................................................... 92.438.0 Total deposits............................................................... 76.355.5 Demand deposits....................................................... 44,332.9 Time and savings deposits........................................ 32.022.6 Total capital accounts.................................................. 7,466.0 47,988.1 7,854.1 9,646.0 84.728.4 70.658.8 40.684.8 29,974.0 6,977.3 42.248.1 8,653.9 9,813.5 78.385.1 66,299.8 39,009.7 27.290.1 6,535.2 36,285.0 5,240.1 6,418.9 66.720.2 53.410.3 33,784.7 19,625.6 5,566.7 34.209.2 4,685.8 4,853.7 61.768.3 49.545.4 30,705.8 18,839.6 5,192.3 30.140.2 5,152.6 6,342.9 56.078.2 46,393.0 29.328.2 17,064.8 4,871.5 15.017.0 3.156.8 4.184.8 25,717.8 22.945.2 10.548.2 12.397.0 1,899.3 13,778.9 3.168.3 4.792.3 22,960.1 21.113.4 9.979.0 11.134.4 1.785.0 12.107.9 3,501.3 3.470.6 22.306.9 19,906.8 9,681.5 10,225.3 1.663.7 *Member banks that merged during 1967 reported consolidated statistics, with the exception of one bank that merged on December 31, 1967 and is accounted for as a separate institution. Sources: Income, expenses, and dividends are derived from the year-end Reports of Income and Dividends submitted by member banks in the Second Federal Reserve District. Selected assets, deposits, and capital accounts for each year are based upon an average of five quarterly Reports of Condition—four during the year plus the preceding December. 2 1966. Interest expense on borrowed money was the only expense account to show a decline, falling by $22.6 million, about 20 percent, because of the easier money market con ditions that prevailed in 1967. three years. In fact, the year’s gain in retained earnings of $89.2 million, or 41 percent, was the largest since 1960. Postwar trend o f earnings Net income, taxes, dividends, and retained earnings The improvement in current operating earnings and the decline in securities losses boosted net income before taxes by $206.5 million, or 27 percent, over the 1966 level, not withstanding substantial increases in transfers to valuation reserves for loan losses and a continued high level of net charge-offs on loans. In 1966 taxes on net income had increased only moderately, in part because the large securi ties losses incurred in that year reduced taxable income. In 1967, taxes increased by a substantial $84.9 million, or 43 percent, as securities losses declined. The fluctuations in securities losses and taxes during these years were con centrated to a large extent in the New York City reserve city banks. Dividend payments on a Districtwide basis increased $32.4 million, or 9 percent, to a record total of $374.5 million. Despite the higher dividend payments, retained earnings (net income after dividends) also achieved a new high of $306.1 million, reversing the downward trend of the last An accompanying chart shows the postwar trend of earn ings and income of member banks in the Second Federal Reserve District. The chart shows that the upward trend in net current operating earnings was interrupted only in 1947, 1958, 1961, and 1962. In 1947 the decline in net operating earnings reflected a reduction in income from Government securities coincident with the retirement of Government debt, but in the other aforementioned years the principal factor was sharply higher interest payments on time and savings deposits. Net income after taxes has grown at a slower rate and with greater year-to-year fluctuations than operating earnings because of the impact of recoveries, charge-offs, valuation reserve fluctuations, and income taxes. The 1967 level of net income after taxes is about three and one-half times that of the late forties. Dividend payments have risen at about the same rate as net income over the postwar years, and the rise has been steadier despite fluctu ations in available net income. Over the postwar period as a whole District member banks have added about 45 percent of their available net income to their capital accounts. P O ST W A R TREND OF E A R N IN G S S E C O N D DISTRICT M E M B E R B A N K S 1946-1967 M illions of d o llars 45001---------------------------------------------------------------------------------------------------------------------------------------------------------------- M illio n s o f d o llars 14500 l ^ ^ j C u rren t o p e ra tin g ex p e n se s j' v ~| N o n o p e r a tin g items a n d inco m e ta x e s 4 00 0 ] D iv id e n d s [Re tain ed e a rn in g s 350 0 T o ta l current o p e ra tin g revenue 2500 2000 1500 N e t current o p e r a t in g e a rn in g s N e t incom e after ta x e s ^ ^ ^ ^ "^ N ^ H r ^ ^ m T ^ t e r ^ j iv id e n d i^ x 1 9 6 7 Average Operating Ratios of Member Banks in the Second District (All ratios in this table and in the tables on the following pages are expressed in percentages and are arithmetical averages o f the ratios o f individual banks in each group, rather than ratios based on aggregate dollar figures.) B A N K S IN N E W Y O R K C I T Y * N ote: Balance-sheet figures used as a basis for the 1967 ratios are averages of amounts reported for December 31, 1966, April 25, 1967, June 30, 1967, October 4, 1967, and D e cember 30, 1967. Ratios for 1966 have been computed by using a similar base. S U M M A R Y R A T IO S Second District banks Number of banks. Deposits under $100 million Deposits of $100 million to $1 billion Deposits over $1 billion YOUR BANK 1967 1966 1967 1966 1967 1966 1967 1966 382 388 4 3 6 6 9 8 P e r c e n t a g e o f T o t a l C a p ita l A c co u n ts 1. N et current operating earnings. . 13 .66 13.83 10.57 16.91 1 9.60 1 9 .79 16.79 16 .14 2. N et income before related taxes. 10.87 10 .50 6 .5 9 9 .0 2 16.47 16.85 13.57 10.39 3. N e t income (after taxes)................ 8 .5 9 8 .2 9 3 .3 2 5 .0 2 10.69 12.13 8 .6 7 7.1 9 4. Dividends declared........................... 3 .2 9 3 .2 8 2 .3 0 3.4 5 2 .7 4 4 .0 3 5 .2 0 5.3 1 5. Total current operating revenue. 5 .3 1 5.2 1 5 .5 1 5 .4 6 5 .3 5 5 .3 3 4 .5 7 4 .4 5 6. Total current operating expenses 4 .2 3 4 .1 1 4 .6 2 4 .2 0 4 .0 6 3 .9 1 3 .2 0 3 .1 7 7. N et current operating earnings. . 1 .0 9 1 .1 0 0 .8 9 1.2 6 1 .2 9 1.41 1.3 7 1.2 8 8. N et income (after taxes)................ 0 .6 8 0 .6 6 0 .2 9 0 .3 7 0 .7 3 0 .8 8 0 .7 1 0 .5 8 P e rc e n ta g e o f T o ta l Assets S O U R C E S A N D D IS P O S IT IO N O F E A R N IN G S P e rc e n ta g e o f T o ta l C u rre n t O p e r a t in g R e v e n u e 9. Interest on U . S. Government obligations.............................. 14.11 15 .20 10.91 8 .9 7 9 .4 2 9 .2 2 8 .3 9 6 .9 1 10. Interest and dividends on other securities.............................. 9 .6 8 8 .7 8 3 .4 3 3.11 9 .7 5 11.17 6 .9 7 6 .8 8 11. Earnings on loans1.............................................................................. 6 7 .0 9 6 6 .6 5 76.41 71.62 68 .7 3 68 .8 2 68 .4 9 71.81 12. Service charges on deposit accounts.......................................... 5 .7 0 5 .9 5 3 .3 9 3 .7 7 2.8 5 3.3 1 1.31 1.5 0 13. All other current operating revenue........................................... 3 .4 3 3 .4 2 5 .8 6 1 2 .5 4 9 .2 6 7 .4 8 14.83 12.91 100.00 100.00 100.00 10 0.00 100.00 100.00 5.2 1 5.8 1 10.01 7 .9 3 17.95 Total current operating revenue............................................. 10 0.00 10 0.00 15. Trust department earnings2 (part of item 1 3 )........................... 2 .4 9 2 .6 7 16. Salaries and wages (officers and em ployees).......................... 21 .81 2 2 .0 3 2 6 .7 0 2 3 .1 4 18.21 20 .6 9 19.87 17. Pension, hospitalization, and other benefits........................... 2 .8 9 2 .8 9 2 .7 7 4 .0 3 2 .9 1 3 .3 3 3 .4 2 3 .3 5 18. Interest on time and savings deposits...................................... 37 .11 3 6 .2 9 31 .0 0 33 .0 9 3 9 .8 4 32 .3 7 29 .9 2 32 .3 8 14. a a 19. N et occupancy expense of bank premises............................... 4 .2 0 4 .1 9 7 .0 0 4 .0 8 3 .6 8 4 .6 9 4 .3 7 4 .1 6 20. All other current operating expenses......................................... 13.49 13.59 15 .69 1 2 .48 1 1.37 1 2 .86 12.61 13.41 21. Total current operating expenses................................................ 7 9 .4 9 7 8 .9 9 8 3 .1 6 76.83 76.01 73.95 70 .19 71.25 22. N et current operating earnings.................................................... 20 .51 21.01 16 .84 23 .1 7 2 4 .0 0 26.05 29.81 28 .7 5 23. N et recoveries and profits ( + ) or losses ( — ) 3 ...................... - 2 .5 6 - 3 .3 7 - 2 .8 7 - 6 .4 9 - 2.9 7 - 2.7 2 - 2 .0 0 - 7.52 24. N et increase ( — ) or decrease ( + ) in valuation reserves4. - 1 .4 3 - 1.57 - 3.6 2 - 4.7 5 - 0 .6 0 - 0 .6 3 - 3 .6 8 - 2 .6 4 3 .4 9 3 .3 7 4 .8 4 5 .1 8 6 .6 7 6 .1 3 8 .6 7 5.7 1 1 3.03 12.69 5.5 1 6 .7 4 13 .76 16 .5 8 15.46 12.88 27. Interest on U . S. Government obligations.............................. 4 .4 4 4 .3 3 4.4 1 3 .5 5 3 .7 1 3 .7 9 4 .8 2 3.8 1 28. Interest and dividends on other securities.............................. 3 .6 0 3 .2 3 9 .1 7 2 .6 8 3 .3 9 3 .8 2 3.7 1 25. Taxes on net incom e.......................................................................... 26. N et income........................................................................................ R A TE S O F R E TU R N O N S ECU R ITIES A N D L O A N S R e tu rn o n S ec u ritie s 29. N et recoveries & profits ( + ) or losses ( — ) on total securities5 - 0 .0 6 - 0 .2 0 - 0 .2 4 - 0 .1 8 + 0 .0 7 - 0 .2 7 - 0 .7 7 - 0 .3 4 + 0 .3 7 - 0.4 1 - 0 .3 3 - 0 .2 4 - 0 .1 9 3.6 1 - 1.49 - 0 .1 7 R e tu rn o n Lo an s 6 .5 0 30. Earnings on loans1.............................................................................. 31. N et losses ( — ) or recoveries ( + ) on loans6............................ 6 .4 6 6 .2 0 6 .6 8 6 .6 0 6 .4 9 5 .8 1 - 0.1 1 5.7 1 D IS T R IB U T IO N O F A S S ETS P e r c e n ta g e o f T o ta l A ssets 32. U . S. Government obligations. 16 .66 18.07 12 .94 14.27 13.52 1 2 .80 8 .0 0 7.91 33. Other securities.............................. 14.78 14.17 4 .1 0 3 .9 2 13.02 14.91 8 .7 0 8 .5 5 34. L oans.................................................. 5 5 .0 9 5 4 .0 3 63 .1 2 6 2 .9 6 5 6 .4 3 5 5 .0 3 5 3 .5 0 5 5 .9 9 35. Cash assets...................................... 11.31 11.59 16.32 16 .5 8 15 .2 6 14.92 2 4 .42 2 2 .2 6 36. Real estate assets.......................... 1 .4 4 1.4 3 2 .2 2 0 .6 5 0 .4 8 0 .8 0 1.07 1 .0 6 8 .2 9 8.2 1 13.49 7 .6 0 6.7 1 7.1 3 8 .1 8 8 .0 2 1 2 .04 12 .29 18.71 11.03 9 .4 6 9 .9 5 12.08 11.45 39. Capital accounts to total deposits----- 9 .3 8 9 .2 5 16 .76 8.5 2 7 .4 7 8 .0 0 10.17 9 .8 7 40. Tim e and savings to total deposits... 57 .6 2 5 6 .6 9 45 .01 4 4 .4 7 49.01 39 .95 3 3 .2 4 35 .2 2 3.8 1 3 .6 9 4 .5 5 4 .4 4 4.8 1 4.6 5 5 .0 1 5.0 1 Total deposits............................................................... 199,126 181,199 3 8 ,1 2 3 80,042 171,463 299,588 5 ,5 7 0 ,6 7 1 5 ,7 7 3 ,6 5 2 Capital accounts.......................................................... 19,415 17,791 5 ,2 8 6 6 ,9 8 4 12,693 2 6 ,65 4 58 7,59 6 6 0 8 ,5 0 9 C A P IT A L A N D D E P O S IT R A T IO S 37. Capital accounts to total assets. 38. Capital accounts to total assets, less U . S. Government securities and cash assets............................................................ 41. Interest on time and savings deposits. A V E R A G E B A N K IN G R O U P — in th o u s a n d s o f d o lla rs *New York City banks include only those banks that have their main offices located in Manhattan. 1See page 9 for the note to ‘‘Earnings on loans” and other notes referred to in this table. 100.00 1 9 6 7 Average Operating Ratios of Second District Member Banks Outside New York City with Deposits Under $5 Million N ote: Balance-sheet figures used as a basis for the 1967 ratios are averages of amounts reported for December 31, 1966, April 25, 1967, June 30, 1967, October 4, 1967, and D e cember 30, 1967. Ratios for 1966 have been computed by using a similar base. S U M M A R Y R A T IO S Group average Time deposits to total deposits, per cent— 1967 YOUR BANK 1967 1966 Under 50 54 63 8 Number of banks.......... 50-55 55-60 60-65 65 and over 10 13 8 15 P e r c e n ta g e o f T o t a l C a p ita l A c co u n ts 1. N et current operating earnings.................................................... 11.87 11.25 11.92 13.31 10.75 14 .2 6 10 .59 2. N et income before related taxes.................................................. 9 .4 6 8 .9 0 1 0 .60 10.53 8 .9 1 10 .30 8 .1 8 3. N et income (after taxes)................................................................. 6 .9 9 6 .8 3 7.4 2 8 .5 1 7.1 7 7 .8 4 5 .1 4 4. Dividends declared............................................................................ 2 .1 5 2 .1 9 2 .2 0 2 .2 0 2 .2 0 2 .6 4 1 .7 8 5. Total current operating revenue.................................................. 5 .3 5 5 .2 2 5 .1 3 5 .2 7 5 .1 6 5 .5 3 5 .5 9 Total current operating expenses................................................ 4 .1 5 4 .0 8 3 .6 6 3.9 5 4 .0 2 4.1 1 4 .6 7 7. N et current operating earnings.................................................... 1 .2 0 1 .1 3 1.47 1.3 3 1.1 3 1.4 1 0 .9 2 N et income (after taxes)................................................................. 0 .7 2 0 .6 8 0 .9 3 0 .8 5 0 .7 7 0 .7 6 0 .4 5 1 6 .7 4 P e rc e n ta g e o f T o ta l A ssets 6. 8. S O U R C E S A N D D IS P O S IT IO N O F E A R N IN G S P e rc e n ta g e o f T o t a l C u rr e n t O p e r a t in g R e v e n u e 9. Interest on U. S. Government obligations.............................. 19 .87 20.81 1 9 .5 0 2 1 .7 8 2 1 .4 5 2 1 .1 7 10. Interest and dividends on other securities.............................. 7 .7 0 6 .4 3 4 .8 7 8 .1 6 8 .4 7 6 .9 0 8 .6 7 11. Earnings on loans1.............................................................................. 6 5 .4 6 6 4 .9 0 6 6 .3 5 62 .51 6 2 .9 5 6 6 .7 0 6 8 .4 7 12. Service charges on deposit accounts.......................................... 5 .3 6 5 .6 8 6 .7 5 6 .0 4 5 .9 0 3 .6 8 4 .5 9 13. All other current operating revenue.......................................... 1.61 2 .1 7 2 .5 4 1.51 1 .2 4 1.5 7 1 .5 3 100.00 1 0 0.00 1 0 0.00 100.00 100.00 1 0 0.00 1 0 0.00 15. Trust department earnings2 (part of item 1 3 ) ........................... a a a a a a a 2 1 .9 2 14. Total current operating revenue............................................. 16. Salaries and wages (officers and em ployees).......................... 2 3 .9 0 2 4 .1 4 2 9 .9 6 2 4 .9 3 24 .15 19 .87 17. Pension, hospitalization, and other benefits.......................... 2 .6 6 2 .4 1 3 .9 6 2 .3 4 2 .8 3 2 .3 9 2 .1 9 18. Interest on time and savings deposits...................................... 3 4 .4 7 3 4 .6 7 1 8 .1 8 3 1 .9 6 3 6 .3 7 3 7 .7 2 4 1 .4 5 19. N et occupancv expense of bank premises............................... 3 .3 3 3 .4 4 4 .7 2 3 .1 8 3 .1 2 3 .1 2 2 .9 8 20. All other current operating expenses......................................... 1 3.25 1 3 .7 6 1 4 .3 3 1 3.37 1 1 .6 6 11.81 1 4 .75 8 3 .2 8 Total current operating expenses........................................... 7 7.62 7 8 .43 7 1 .17 7 5 .8 0 7 8 .1 4 7 4 .8 8 22. Net current operating earnings.................................................... 21. 2 2 .3 8 2 1 .5 7 2 8 .8 4 2 4 .1 9 2 1 .8 6 25 .11 23. N et recoveries and profits ( + ) or losses ( — ) s ...................... 24. Net increase ( — ) or decrease ( + ) in valuation reserves4. 1 6 .7 3 - 3 .8 4 - 3 .3 0 - 1.21 - 6 .9 0 - 2 .4 6 - 8 .6 6 - 1 .8 4 - 0 .3 4 - 1 .0 3 - 1 .3 4 + 2 .3 4 - 1.01 + 0 .9 7 - 1.7 2 25. Taxes on net income......................................................................... 4 .6 1 3 .9 6 7 .9 6 3 .7 8 3 .5 6 3 .9 3 4 .6 6 1 3 .59 1 3 .27 1 8 .28 1 5.87 1 4.85 1 3 .4 6 8 .5 4 27. Interest on U. S. Government obligations.............................. 4 .6 0 4 .4 4 4 .0 6 4 .6 4 4 .4 8 5 .4 8 4 .4 9 28. Interest and dividends on other securities.............................. 3 .9 4 3 .3 0 5 .2 9 3 .9 4 3.1 1 3 .4 6 26. Net income....................................................................................... 1 0 0.00 R A TES O F R E TU R N O N S ECU R ITIES A N D L O A N S R e tu rn o n S ec u ritie s 29. Net recoveries & profits ( + ) or losses ( —) on total securities5 - 0 .2 2 - 0 .2 3 - 0 .1 7 - 0 .2 4 - 0 .0 7 - 0 .0 6 - 0 .7 4 6 .8 4 6 .7 1 - 0 .3 1 - 0 .1 3 - 0 .1 2 - 0 .2 3 4 .1 9 - 0 .0 4 - 0 .2 0 R e tu rn on Loans 30. Earnings on loans1.............................................................................. 31. Net losses ( —) or recoveries ( + ) on loans6............................ 6 .8 2 6 .6 9 7.01 6 .7 7 - 0 .5 3 6 .8 2 D IS T R IB U T IO N O F A S S E TS P e rc e n ta g e o f T o ta l Assets 32. U. S. Government obligations...................................................... 2 3 .2 4 2 4 .1 4 25 .11 24 .47 24 .5 2 2 2 .4 8 33. Other securities......................................... 11.73 10.72 8 .1 7 12.62 1 3 .93 11.27 1 1 .38 34. Loans.................................................. 51 .7 7 5 1 .2 5 4 9 .4 2 4 8 .4 0 4 8 .8 6 5 4 .3 8 5 6 .3 9 35. Cash assets........................ 1 1.53 12.21 15 .5 6 12 .80 1 1 .09 10 .04 9 .7 3 1.15 1.2 3 1.15 1 .0 7 1.27 1.1 4 1.0 9 37. Capital accounts to total assets........... 1 0 .4 4 10 .48 13 .08 9 .8 3 10.65 10.01 9 .4 8 38. Capital accounts to total assets, less U . S. Government securities and cash assets................. 1 7 .7 8 1 8 .3 6 2 9 .2 0 1 5 .8 3 1 8 .3 3 15.05 1 3 .9 6 39. Capital accounts to total deposits........... 11 .95 12.02 1 5 .6 0 1 1 .0 6 1 2 .0 6 1 1 .4 6 1 0 .7 4 40. Tim e and savings to total d e posits.. . . 5 6 .4 7 5 6 .2 4 3 2 .7 4 5 2 .4 5 5 6 .8 7 6 1 .8 1 6 8 .6 1 3 .5 4 3 .4 9 2 .7 5 3 .5 2 3 .6 5 3 .7 9 3 .7 5 3,2 0 7 3 ,1 4 0 2,881 3,1 11 3,1 6 2 3 ,1 7 0 3 ,5 0 3 373 369 456 330 380 355 361 36. Real estate assets....................... 2 0 .7 3 C A P IT A L A N D D E P O S IT R A T IO S 41. Interest on time and savings deposits. . . . A V E R A G E B A N K IN G R O U P — in th o u s a n d s o f d o lla rs Total deposits.......................................... Capital accounts................................ 1See page 9 for the note to “ Earnings on loans” and other notes referred to in this table. 5 1 9 6 7 Average Operating Ratios of Second District Member Banks Outside New York City with Deposits of $5 Million to $ 2 0 Million N ote: Balance-sheet figures used as a basis for the 1967 ratios are averages of amounts reported for December 31, 1966, April 25, 1967, June 30, 1967, October 4, 1967, and D e cember 30, 1967. Ratios for 1966 have been computed by using a similar base. SUMMARY RATIOS Group average Time deposits to total deposits, per cent— 1967 YO UR BANK Number of bank s.......... 1967 1966 Under 50 50-55 55-60 60-65 65-70 70 and over 144 149 16 16 24 35 20 33 Percentage o f Total Capital Accounts N et current operating earnings................................................ 12.75 13.39 1 2 .49 14.37 12 .43 13.09 11.71 12.61 2. N et income before related ta x es.............................................. 9 .8 2 9 .8 6 10.45 12.36 9 .7 5 9 .9 4 8.5 5 8 .9 7 3. N et income (after taxes)............................................................ 7.7 0 7.8 5 7 .8 0 9 .5 2 7.51 7.7 7 7 .3 2 7 .0 6 4. Dividends declared...................................................................... 2 .6 4 2 .8 2 2 .9 3 2 .7 0 2.4 1 2 .8 0 2.21 2 .7 4 5. T otal current operating revenue.............................................. 5 .2 5 5 .1 4 5 .1 2 4 .9 0 5 .0 9 5 .3 3 5 .4 0 5 .4 3 Total current operating expenses............................................ 4 .1 9 4 .0 6 4 .0 0 3 .7 4 4 .0 0 4 .2 2 4 .4 8 4 .4 3 7. Net current operating earnings................................................ 1 .0 6 1 .0 8 1.12 1.1 6 1.0 8 1.11 0 .9 2 1 .0 0 Net income (after taxes)............................................................ 0 .6 4 0 .6 4 0 .7 4 0 .7 8 0 .6 4 0 .6 4 0 .5 8 0 .5 6 15.13 1. Percentage o f Total Assets 6. 8. SOURCES AND DISPOSITION OF EARNINGS Percentage of Total Current Operating Revenue 9. Interest on U. S. Governm ent obligations............................ 16.05 1 7 .4 6 17.55 18.35 17.43 14 .2 4 16.01 10. Interest and dividends on other securities............................ 9 .2 9 8.5 5 10.21 9 .6 6 8 .4 6 8.5 1 10.75 9.2 1 11. Earnings on loans1....................................................................... 6 6 .6 4 6 5 .8 8 6 1 .8 2 6 4 .0 6 6 6 .5 0 69.41 6 3 .2 5 69 .4 7 12. Service charges on deposit accou n ts....................................... 5 .7 3 5.9 1 7.3 7 5 .6 2 5 .5 8 6 .0 2 6.7 1 4.2 1 13. All other current operating revenue....................................... 2 .2 9 2.2 1 3 .0 5 2 .3 2 2 .0 3 1.82 3 .2 8 1 .9 8 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 14. Total current operating revenue......................................... 15. Trust department earnings2 (part of item 13)........................ 0 .8 4 1.22 0 .7 6 1.1 8 0 .5 7 1.15 0.5 1 0 .9 0 16. Salaries and wages (officers and em p loy ees)........................ 21.31 2 1 .5 2 2 6 .72 2 2 .9 6 2 1 .9 9 20.45 2 0 .5 6 18.78 17. Pension, hospitalization, and other benefits........................ 2.6 1 2 .6 3 3 .0 3 2 .8 4 2.51 2 .6 4 2 .5 0 2.4 2 18. Interest on time and savings d eposits................................... 38 .65 3 7 .8 9 2 4 .22 3 4 .3 0 3 8 .18 3 9 .67 4 1 .6 4 45.21 19. N et occupancy expense o f bank prem ises............................. 3 .9 8 3 .9 7 5 .5 3 3 .8 4 3 .7 7 3 .9 8 4.3 2 3 .2 6 20. All other current operating expenses..................................... 1 3 .3 0 13.07 18.38 12.65 1 2 .48 12.53 13 .86 12.22 81 .8 8 T otal current operating expenses........................................ 7 9 .86 79.07 77.89 7 6 .58 78 .93 79.27 8 2 .89 22. N et current operating earnings................................................ 2 0 .1 4 2 0 .9 3 2 2 .12 2 3 .42 2 1 .07 2 0 .73 17.11 21. 18.12 23. N et recoveries and profits ( + ) or losses ( —)3.................... - 2.4 5 - 2 .9 9 - 0 .6 7 - 0 .7 3 - 1.8 8 - 3 .4 6 - 3 .6 4 - 2 .7 8 24. N et increase ( —) or decrease ( + ) in valuation reserves4. - 2 .0 3 - 2.3 2 - 2 .2 4 - 2 .2 8 - 2 .6 3 - 1.8 6 - 0 .6 9 - 2 .3 6 3 .3 7 3 .1 7 4 .5 3 4 .7 1 3 .8 8 3 .3 9 1.85 2 .6 7 1 2 .29 12.44 14.68 15 .70 12 .68 12.02 10.93 10.31 27. Interest on U. S. Governm ent obligations ..................................... 4 .6 0 4.5 1 4 .3 9 4 .7 2 4 .2 7 4 .7 3 4 .9 8 4.5 2 28. Interest and dividends on other securities ..................................... 3 .5 7 3 .1 8 3 .9 9 3.5 1 3 .3 8 3 .6 6 3 .3 8 25. Taxes on net in com e................................................................... 26. N et incom e................................................................................ R A TE S O F R E TU R N O N SEC U R ITIE S A N D L O A N S R e tu r n o n Securitie s 29. N et recoveries & profits ( + ) or losses ( — ) on total securities0 - 0 .0 4 - 0 .2 0 - 0 .2 0 - 0 .1 5 + 0 .0 6 - 0 .1 5 - 0 .0 4 - 0 .0 5 - 0 .0 5 - 0 .1 6 - 0 .0 5 - 0 .2 5 - 0.0 1 - 0 .2 9 3 .5 4 - 0 .0 7 - 0 .2 0 R e tu rn on L o a n s 6 .3 9 31. Net losses ( — ) or recoveries ( + ) on loans6.................................. 6 .2 0 6 .3 9 6 .0 8 6 .4 7 6.3 5 6.4 1 6 .5 7 D IS T R IB U T IO N O F A SSETS P e rc e n ta g e o f T o ta l Assets 18.27 19.95 19.45 19.91 2 0 .09 16.05 18.25 13 .92 1 3 .79 13.01 14 .28 12 .86 1 3 .76 16.37 13.65 5 5 .0 9 5 3 .2 5 51 .47 51 .7 7 53 .6 6 57 .62 5 3 .7 8 5 7 .5 9 35. Cash assets..................................................................................... 10.65 10.98 1 3 .68 1 1 .90 11.57 1 0 .56 9 .3 7 8 .8 0 36. Real estate assets......................................................................... 1.55 1 .5 4 1.77 1.45 1 .4 4 1.4 9 1.72 1 .5 4 32. U . S. Governm ent obligations.................................................. 33. Other securities............................................................................. 34. L oans............................................................................................... 17.93 C A P IT A L A N D D E P O S IT R A T IO S 8 .6 2 8 .3 2 9 .5 4 8 .3 9 9 .0 1 8 .8 2 8.0 7 8 .1 5 38. Capital accounts to total assets, less U. S. Government securities and cash assets ........................................................................ 12 .5 4 12.45 15.65 12 .56 13 .36 12 .13 11.93 11.21 39. Capital accounts to total deposits.......................................... 9 .7 3 9 .3 0 1 0 .97 9 .3 2 1 0 .2 0 9.99 9 .0 4 9 .1 2 40. Tim e and savings to total deposits......................................... 6 0 .3 0 5 9 .3 9 37 .5 9 51 .8 7 56 .8 7 6 1 .2 6 6 7 .1 8 7 2 .7 0 41. Interest on time and savings deposits................................... 3 .7 4 3 .6 0 3 .6 9 3 .5 9 3 .8 0 3 .8 5 3.7 1 3 .7 0 T otal deposits................................................................................ 10,895 10,783 10,913 9,3 6 5 10,411 10,443 12,389 1 1 ,554 Capital a cco u n ts........................................................................... 1,0 43 976 1,205 855 1,062 1,0 14 1,0 79 1,051 37. Capital accounts to total assets ............................................................... A V E R A G E B A N K IN G R O U P — in th o u s a n d s o f d o lla rs page 9 for the note to “ Earnings on loans” and other notes referred to in this table. 1 9 6 7 Average Operating Ratios of Second District Member Banks Outside New York City with Deposits of $ 2 0 Million to $ 5 0 Million Note: Balance-sheet figures used as a basis for the 1967 ratios are averages of amounts reported for December 31, 1966, April 25, 1967, June 30, 1967, October 4, 1967, and De cember 30, 1967. Ratios for 1966 have been computed by using a similar base. SU M M A R Y RA TIO S Number of banks. Group average Time deposits to total deposits, per cent— 1967 YOUR BANK 1967 1966 Under 50 50-55 55-60 60-65 65 and over 80 77 13 9 17 17 24 .. . P e r c e n t a g e o f T o ta l C a p ita l A cc o u n ts N et current operating earnings.................................................... 14.00 14 .04 14.63 11 .64 1 4 .5 4 1 3 .8 6 14.25 2. Net income before related taxes.................................................. 1 0 .7 4 10 .44 13.23 9 .0 8 1 0.47 11 .63 9 .5 9 Net income (after taxes)................................................................. 8.83 8.34 10.55 8 .4 9 7 .7 6 9 .6 6 8 .1 9 4. Dividends declared............................................................................ 3 .3 0 3 .1 9 4 .5 7 2 .5 2 3 .0 8 2 .9 2 3 .3 2 1. 3. P e r c e n ta g e o f T o ta l A s s e t s 5. Total current operating revenue................................................. 5 .3 4 5 .2 7 5 .0 6 5 .1 2 5 .4 8 5 .3 0 5 .5 1 Total current operating expenses................................................ 4 .3 4 4 .2 6 3 .8 8 4 .3 0 4 .3 8 4 .3 2 4 .5 7 6. 7. N et current operating earnings.................................................... 1.01 1.01 1.1 7 0 .8 3 1 .1 0 0 .9 8 0 .9 3 Net income (after taxes)................................................................. 0 .6 5 0 .6 0 0 .8 8 0 .6 2 0 .6 0 0 .6 8 0 .5 4 1 0.85 8. SOURCES A N D D ISP O SITIO N OF EA R N IN G S P e r c e n t a g e o f T o ta l C u rre n t O p e r a t in g R e v e n u e 9. Interest on U. S. Government obligations ..................................... 12 .4 6 13 .13 1 3 .0 8 15 .56 1 1 .7 6 13 .33 10. Interest and dividends on other securities..................................... 10.72 9 .7 8 1 1 .43 1 2 .6 6 8 .7 7 11 .85 1 0 .1 9 11. Earnings on loans1.............................................................................. 67 .21 6 6 .9 2 6 3 .5 3 6 0 .5 2 6 9 .7 7 6 5 .6 7 7 0 .9 7 12. Service charges on deposit accounts.......................... 6 .6 0 6 .8 6 7 .1 9 7 .7 9 6 .7 5 6 .6 2 5 .7 2 13. All other current operating revenue.......................................... 3.0 1 3.3 1 4 .7 7 3 .4 7 2 .9 5 2 .5 4 2 .2 7 10 0.00 100.00 10 0.00 10 0.00 100.00 10 0.00 1 0 0.00 1 .6 4 2 .0 4 2 .7 3 2 .3 8 1.7 5 1 .3 7 0 .4 7 16. Salaries and wages (officers and em ployees) ................................ 2 1 .7 4 22 .1 5 2 4 .4 4 2 5 .7 8 2 2 .4 4 2 0 .6 7 1 9 .0 4 17. Pension, hospitalization, and other benefits ................................. 2 .9 2 3 .0 5 3 .5 5 3 .4 9 2 .9 3 2 .7 9 2 .4 4 18. Interest on time and savings deposits ............................................... 3 8 .0 8 37 .1 1 2 9 .0 4 3 3 .2 7 3 6 .0 7 4 0 .4 0 4 4 .5 7 14. Total current operating revenue............................................. 15. Trust department earnings2 (part of item 1 3 ) ................. 19. N et occupancy expense of bank premises ...................................... 4 .4 3 4 .4 8 4 .7 9 5 .5 4 4 .9 4 4 .1 0 3 .6 8 20. All other current operating expenses .................................................. 1 3 .8 6 14.05 14.81 15 .88 1 3 .3 6 1 3 .5 4 1 3 .1 7 21. Total current operating expenses ..................................................... 8 1 .0 3 8 0 .8 4 76.62 83 .9 5 7 9 .7 4 8 1 .5 0 8 2 .9 0 22. N et current operating earnings................................................................ 18 .97 1 9 .1 6 23 .3 8 16 .04 2 0 .2 6 18.51 1 7 .1 0 23. N et recoveries and profits ( + ) or losses ( — ) 3 ........................... - 2 .0 3 - 3 .0 3 - 1 .1 6 - 2 .1 1 - 2 .5 9 - 1 .7 8 - 2 .2 5 24. Net increase ( — ) or decrease ( + ) in valuation reserves4. - 2.0 1 - 1 .7 6 - 0 .6 8 - 1 .3 0 - 2 .5 5 - 1 .1 3 - 3 .2 4 25. Taxes on net income .......................................................................................... 2 .6 6 2 .8 6 4 .0 4 0 .8 3 3 .8 9 2 .8 0 1 .6 3 12.27 11.52 17 .49 11.82 11.22 1 2 .7 9 9 .9 8 27. Interest on U. S. Government obligations ..................................... 4 .1 7 4 .1 6 4 .2 2 4 .2 0 3 .9 5 4 .1 8 4 .2 7 28. Interest and dividends on other securities ..................................... 3 .3 7 3 .2 2 3 .4 2 3 .4 6 3 .3 6 3 .4 2 - 0 .0 3 + 0 .0 5 - 0 .0 7 - 0 .1 0 26. Net income ....................................................................................... RATES OF RETURN O N SECURITIES A N D L O A N S R etu rn o n S ec u rities 29. Net recoveries & profits ( + ) or losses ( — ) on total securities5 - 0 .0 5 - 0 .2 2 - 0 .1 4 - 0 .0 3 - 0 .1 7 3 .2 8 - 0 .1 0 - 0 .0 8 R etu rn o n L oan s 30. Earnings on loans1............................ 31. Net losses ( — ) or recoveries ( + ) on loans6 ................... 6 .4 9 6 .5 1 - 0 .1 3 6 .0 7 - 6 .4 5 6 .6 1 0 .2 3 - 0 .1 5 6 .4 9 6 .7 1 D IS T R IB U T IO N O F A S S E TS P e rc e n ta g e o f T o t a l Assets 32. U. S. Government obligations............ 1 5 .46 1 6 .4 0 1 4 .4 0 1 9 .0 4 15 .83 16.41 33. Other securities............... 1 6 .57 1 5 .75 1 7 .17 18.41 13 .57 17.71 16 .8 6 34. Loans..................... 5 5 .3 7 5 4 .5 8 5 3 .1 0 4 8 .1 9 5 7 .9 2 5 3 .9 0 5 8 .5 1 35. Cash assets................. 1 0.47 1 1 .0 8 13.42 1 1 .7 8 10 .35 10 .05 8 .7 6 1 .6 0 1 .6 0 1 .4 2 1 .8 8 1 .8 7 1 .3 8 1.5 5 37. Capital accounts to total assets___ 7.3 1 7 .3 3 8 .3 3 7 .1 2 7 .6 7 7 .1 0 6 .7 3 38. Capital accounts to total assets, less U. S. Government securities and cash assets. 9 .9 6 10 .2 0 1 1.65 1 0.25 10 .4 6 9 .6 9 8 .7 6 8 .1 3 8 .1 7 9 .3 8 7 .9 0 8 .5 5 7 .8 7 7 .4 4 40. Time and savings to total d e posits... 5 9 .2 5 5 8 .0 5 4 3 .5 4 5 2 .5 0 5 7 .3 9 6 1 .5 2 6 9 .9 9 41. Interest on time and savings deposits 3 .7 8 3 .7 2 3 .7 7 3 .5 8 3 .8 0 3 .8 2 3 .8 4 30 ,285 2 9 ,8 5 6 3 1 ,3 8 6 2 7 ,831 2 9 ,3 9 9 3 0 ,1 9 9 3 1 ,2 9 8 2 ,4 71 2 ,4 6 5 2 ,9 6 4 2 ,1 6 8 2 ,5 0 6 2 ,3 9 9 2 ,3 4 2 36. Real estate assets........... 13 .7 6 C A P IT A L A N D D E P O S IT R A T IO S 39. Capital accounts to total deposits........ A V E R A G E B A N K IN G R O U P — in th o u s a n d s o f d o lla rs Total deposits............. Capital accounts...................... ^ee page 9 for the note to “ Earnings on loans” and other notes referred to in this table 1 0 0 .0 0 1 9 6 7 Average Operating Ratios of Second District Members Banks Outside New York City with Deposits of $ 5 0 Million and Over N ote: Balance-sheet figures used as a basis for the 1967 ratios are averages of amounts reported for December 31, 1966, April 25, 1967, June 30, 1967, October 4, 1967, and D e cember 30, 1967. Ratios for 1966 have been computed by using a similar base. SU M M A R Y RA TIO S Group average Time deposits to total deposits, per cent— 1967 YOUR BANK Number of bank s.......... 1967 1966 Under 50 85 82 16 50-55 55-60 60-65 65 and over 13 21 20 15 P e r c e n t a g e o f T o ta l C a p ita l A cc o u n ts N et current operating earnings.................................................... 15.42 15 .6 4 16.85 1 5 .84 16.06 13.61 15 .06 2. N et income before related taxes.................................................. 13 .1 8 12 .53 15.05 1 3.32 14.32 1 1 .5 3 11.69 3. Net income (after taxes).................................................................. 10.96 10.11 1 1 .8 8 11.22 1 1.83 10.21 9 .5 2 4. Dividends declared............................................................................. 5 .0 3 4 .7 7 5 .4 7 5 .4 6 5 .4 2 4 .7 1 4 .0 7 5. Total current operating revenue.................................................. 5 .4 4 5 .3 4 5 .1 6 5 .6 2 5 .4 4 5 .4 6 5 .5 7 Total current operating expenses................................................ 4 .3 4 4 .2 1 3 .8 9 4 .4 3 4 .3 3 4 .4 9 4 .5 4 7. N et current operating earnings.................................................... 1 .1 0 1.1 3 1.2 7 1 .1 8 1.1 2 0 .9 7 1.0 3 N et income (after taxes).................................................................. 0 .7 9 0 .7 3 0 .8 9 0 .8 3 0 .8 5 0 .7 3 0 .6 4 1. P e r c e n t a g e o f T o ta l A s s e ts 6. 8. SOURCES A N D D ISP O SITIO N OF EA R N IN G S P e r c e n t a g e o f T o ta l C u rren t O p e r a t in g R e v e n u e 9. Interest on U. S. Government obligations.............................. 9 .7 9 1 0 .2 0 8 .9 4 9 .5 8 1 0 .4 7 9 .9 4 9 .7 2 10. Interest and dividends on other securities.............................. 11.21 1 0 .2 9 1 1 .26 1 0.23 11 .99 1 0 .9 8 1 1 .2 3 7 0.21 11. Earnings on loans1.............................................................................. 6 8 .0 5 6 8 .3 3 6 7 .0 6 6 7 .3 6 6 6 .5 4 6 9 .2 6 12. Service charges on deposit accounts........................................... 5 .7 9 6 .0 7 5 .8 3 5 .9 8 6 .2 8 5 .5 9 5 .1 6 13. All other current operating revenue........................................... 5 .1 6 5 .1 2 6 .9 1 6 .8 4 4 .7 3 4 .2 2 3 .6 9 14. Total current operating revenue............................................. 10 0.00 1 0 0.00 10 0.00 100.00 10 0.00 100.00 100.00 15. Trust department earnings2 (part of item 1 3 ) ........................... 3 .1 5 3 .2 8 4 .5 0 4 .8 6 2 .3 5 2 .2 6 1 .9 9 16. Salaries and wages (officers and em ployees).......................... 2 1 .6 2 2 1 .6 7 2 3 .6 3 2 3 .5 9 2 1 .3 6 2 1.01 18.91 17. Pension, hospitalization, and other benefits........................... 3 .4 2 3 .4 8 3 .8 2 4 .3 4 3 .4 9 2 .8 7 2 .8 3 18. Interest on time and savings deposits....................................... 3 6 .0 9 3 4 .6 5 2 6 .7 8 3 2 .2 5 3 5 .8 0 4 0 .3 0 4 4 .1 3 19. Net occupancy expense of bank premises............................... 4 .7 7 4 .8 5 5 .3 3 4 .8 9 4 .9 9 4 .6 7 3 .9 3 20. All other current operating expenses......................................... 1 3 .7 4 14.11 15 .83 1 3 .9 4 1 3 .7 4 1 3 .3 8 11.81 8 1 .6 1 Total current operating expenses........................................... 7 9 .6 4 78 .75 75 .39 7 9.01 7 9 .3 8 8 2 .2 4 22. N et current operating earnings.................................................... 21. 2 0 .3 6 2 1 .2 5 2 4 .61 2 0 .9 9 2 0 .6 2 1 7 .7 6 1 8 .39 23. N et recoveries and profits ( + ) or losses ( — )s ...................... - 2 .4 4 - 3 .9 6 - 2 .6 8 - 2 .7 4 - 1 .5 8 - 2 .4 7 - 3 .1 0 24. N et increase ( — ) or decrease ( + ) in valuation reserves4. - 0 .2 8 - 0 .3 0 - 0 .1 2 - 0 .5 6 + 0 .1 5 - 0 .2 4 - 0 .8 5 25. Taxes on net income.......................................................................... 2 .9 7 3 .2 6 4 .5 0 2 .8 4 3 .2 4 1 .7 3 2 .7 0 14 .68 13.72 17.32 1 4 .84 1 5 .9 4 1 3.32 1 1 .7 4 27. Interest on U . S. Government obligations.............................. 4 .3 4 4 .1 9 4 .0 8 4 .6 7 4 .4 7 4 .2 4 4 .3 0 28. Interest and dividends on other securities.............................. 3 .3 9 3 .1 9 3.3 1 3 .3 9 3 .4 6 3 .2 9 3 .5 1 - 0 .0 8 + 0 .1 0 - 0 .0 3 - 0 .2 7 26. N et income........................................................................................ R A TE S O F R E TU R N O N S E C U R ITIE S A N D L O A N S R e tu rn o n S ec u ritie s 29. N et recoveries & profits ( + ) or losses ( — ) on total securities5 - 0 .0 2 - 0 .2 0 - 0 .2 5 - 0 .2 0 - 0 .0 5 - 0 .2 5 - 0 .0 7 - 0 .1 4 R e tu rn o n Lo an s 6 .5 6 30. Earnings on loans1............................................................................................... 31. N et losses ( — ) or recoveries ( + ) on loans6 .................................. 6 .5 6 6 .4 1 6 .4 8 6 .5 4 - 0 .1 8 6 .5 8 - 0 .1 8 6 .6 9 D IS T R IB U T IO N O F AS S ETS P e rc e n ta g e o f T o ta l A ssets 32. U. S. Government obligations....................................................... 12.17 1 3 .0 6 11.27 1 2 .06 12 .44 12 .49 33. Other securities.................................................................................... 17.75 16.91 17.31 1 6 .86 18 .84 17 .77 17.42 34. Loans........................................................................................................ 5 6 .6 0 5 6 .4 9 54 .0 5 5 7 .6 9 5 5 .5 0 57 .6 2 5 8 .5 6 35. Cash assets............................................................................................. 12.42 11.17 11 .24 14.87 11.31 10.75 9 .8 3 9 .4 9 .... 1 .3 7 1 .3 4 1 .6 6 1.1 8 1.2 9 1 .3 0 1 .4 4 37. Capital accounts to total assets................................................... 7.1 7 7 .2 4 7 .5 2 7.51 7 .0 0 7.1 7 6.73 38. Capital accounts to total assets, less U. S. Government securities and cash assets........................................ 9 .3 8 9 .6 1 10.22 9 .8 1 9 .1 3 9 .2 5 8.6 5 39. Capital accounts to total deposits.............................................. 8 .0 3 8 .1 2 8 .5 3 8 .4 6 7.81 8 .0 2 7 .4 4 40. Tim e and savings to total deposits............................................. 5 6 .0 4 5 4.61 40.51 5 2 .6 6 5 6 .4 8 6 1 .7 2 67.33 41. Interest on time and savings deposits....................................... 3.88 3.76 3 .7 4 3.8 6 3.83 3 .9 7 4 .0 0 Total deposits....................................................................................... 24 2 ,1 6 3 2 1 9,209 32 4,419 139,547 30 1,855 28 2,249 106,340 Capital accounts.................................................................................. 19,559 18,235 2 9 ,132 11,321 23 ,1 6 4 22,360 7,7 07 36. Real estate assets................................... C A P IT A L A N D D E P O S IT R A T IO S A V E R A G E B A N K IN G R O U P — in th o u s a n d s o f d o lla rs page 9 for the note to “ Earnings on loans” and other notes referred to in this table. 8 1 00.00 NOTES TO PAGES 4-8 1 Includes service charges and other fees on loans. 2 Excludes banks not reporting this item or reporting negligible amounts. 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 income and dividends report at the end of the preceding year from the balance on hand at the end of the current year. 5 Excludes transfers to and from valuation reserves for losses on securities. 6 Excludes transfers to and from valuation reserves for losses on loans. a Averages are not shown when fewer than three banks are in a group or when no banks in the group have trust department earnings. Note: Ratios do not add exactly in every case to their respective totals because of rounding. Year-to-year com parisons by size groups may be affected by mergers and shifts of banks from one size group to another. Member banks whose ratios are distorted by unusual circumstances in asset structure or operation are excluded from the calcula tions in order to eliminate their effect upon the averages. 9
@FedFRASER