V. Appendixes

For the year ended December 31

2002 2001 2000

Bank Insurance Fund

Financial Results 

Revenue $ 1,796 $ 1,997 $ 1,906

Operating Expenses 821 786 773

Insurance Losses and Expenses (70) 1,774 (128)

Net Income/(Loss) 1,045 (563) 1,261

Comprehensive Income/(Loss) 1,611 (536) 1,561

Insurance Fund Balance $ 32,050 $ 30,439 $ 30,975

Fund as a Percentage of Insured Deposits 1.25% 1.26% 1.35%

Selected Statistics

Total BIF-Member Institutions●8,171 8,326 8,572

Problem Institutions 124 90 74

Total Assets of Problem Institutions $ 34,000 $ 32,000 $ 11,000

Institution Failures 10 3 6

Total Assets of Current Year Failed Institutions $ 2,508 $ 54 $ 378

Number of Active Failed Institution Receiverships 37 36 51

Savings Association Insurance Fund

Financial Results 

Revenue $ 589 $ 733 $ 664

Operating Expenses 124 102 111

Insurance Losses and Expenses (156) 462 189

Net Income 620 169 364

Comprehensive Income 812 176 478

Insurance Fund Balance $ 11,747 $ 10,935 $ 10,759

Fund as a Percentage of Insured Deposits 1.38% 1.36% 1.43%

Selected Statistics

Total SAIF-Member Institutions ■1,244 1,287 1,333

Problem Institutions 24 24 20

Total Assets of Problem Institutions $ 8,000 $ 8,000 $ 13,000

Institution Failures 1 1 1

Total Assets of Current Year Failed Institutions $ 50 $ 2,180 $ 30

Number of Active Failed Institution Receiverships 3 3 3

▼ As of September 30, 2002.

● Commercial banks and savings institutions. Does not include U.S. branches of foreign banks.

■ Savings institutions and commercial banks.

Selected Statistics

Dollars in millions

▼

▼

▼

▼

▼

▼

▼

▼

Appendix A –

Key Statistics
111

Number of Insured Banks Deposits of Insured Banks

1

Without With Without With

Disbursements Disbursements Disbursements Disbursements

Year Total by FDIC by FDIC Total by FDIC FDIC Assets

Number and Deposits of BIF-Insured Banks Closed Because of Financial Difficulties, 1934 through 20021

Dollars in Thousands

Does not include institutions that received FDIC assistance and were not closed. Also does not include institutions insured by the Savings Association Insurance Fund (SAIF), which was 

established by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

Total 2,110 19 2,091 $ 216,820,335 $ 4,298,814 $ 212,521,521 $ 257,321,694

2002 10 – 10 2,124,501 – 2,124,501 2,507,565

2001 3 – 3 49,926 – 49,926 54,470

2000 6 – 6 311,950 – 311,950 378,088

1999 7 – 7 1,268,151 – 1,268,151 1,423,819

1998 3 – 3 335,076 – 335,076 370,400

1997 1 – 1 26,800 – 26,800 25,921

1996 5 – 5 168,228 – 168,228 182,502

1995 6 – 6 632,700 – 632,700 753,024

1994 13 1 12 1,236,488 – 1,236,488 1,392,140

1993 41 – 41 3,132,177 – 3,132,177 3,539,373

1992 120 10 110 41,150,898 4,257,667 36,893,231 44,197,009

1991 124 – 124 53,751,763 – 53,751,763 63,119,870

1990 168 – 168 14,473,300 – 14,473,300 15,660,800

1989 206 – 206 24,090,551 – 24,090,551 29,168,596

1988 200 – 200 24,931,302 – 24,931,302 35,697,789

1987 184 – 184 6,281,500 – 6,281,500 6,850,700

1986 138 – 138 6,471,100 – 6,471,100 6,991,600

1985 120 – 120 8,059,441 – 8,059,441 8,741,268

1984 79 – 79 2,883,162 – 2,883,162 3,276,411

1983 48 – 48 5,441,608 – 5,441,608 7,026,923

1982 42 – 42 9,908,379 – 9,908,379 11,632,415

1981 10 – 10 3,826,022 – 3,826,022 4,859,060

1980 10 – 10 216,300 – 216,300 236,164

1979 10 – 10 110,696 – 110,696 132,988

1978 7 – 7 854,154 – 854,154 994,035

1977 6 – 6 205,208 – 205,208 232,612

1976 16 – 16 864,859 – 864,859 1,039,293

1975 13 – 13 339,574 – 339,574 419, 950

1974 4 – 4 1,575,832 – 1,575,832 3,822,596

1973 6 – 6 971,296 – 971,296 1,309,675

1972 1 – 1 20,480 – 20,480 22,054

1971 6 – 6 132,058 – 132,058 196,520

1970 7 – 7 54,806 – 54,806 62,147

1969 9 – 9 40,134 – 40,134 43,572

1968 3 – 3 22,524 – 22,524 25,154

1967 4 – 4 10,878 – 10,878 11,993

1966 7 – 7 103,523 – 103,523 120,647

1965 5 – 5 43,861 – 43,861 58,750

1964 7 – 7 23,438 – 23,438 25,849

1963 2 – 2 23,444 – 23,444 26,179

1962 1 1 0 3,011 3,011 0 N/A

1961 5 – 5 8,936 – 8,936 9,820

1960 1 – 1 6,930 – 6,930 7,506

1959 3 – 3 2,593 – 2,593 2,858

1958 4 – 4 8,240 – 8,240 8,905

1957 2 1 1 11,247 10,084 1,163 1,253

1956 2 – 2 11,330 – 11,330 12,914

1955 5 – 5 11,953 – 11,953 11,985

1954 2 – 2 998 – 998 1,138

1953 4 2 2 44,711 26,449 18,262 18,811

1952 3 – 3 3,170 – 3,170 2,388

1951 2 – 2 3,408 – 3,408 3,050

1950 4 – 4 5,513 – 5,513 4,005

1949 5 1 4 6,665 1,190 5,475 4,886

1948 3 – 3 10,674 – 10,674 10,360

1947 5 – 5 7,040 – 7,040 6,798

1946 1 – 1 347 – 347 351

1945 1 – 1 5,695 – 5,695 6,392

1944 2 – 2 1,915 – 1,915 2,098

1943 5 – 5 12,525 – 12,525 14,058

1942 20 – 20 19,185 – 19,185 22,254

1941 15 – 15 29,717 – 29,717 34,804

1940 43 – 43 142,430 – 142,430 161,898

1939 60 – 60 157,772 – 157,772 181,514

1938 74 – 74 59,684 – 59,684 69,513

1937 77 2 75 33,677 328 33,349 40,370

1936 69 – 69 27,508 – 27,508 31,941

1935 26 1 25 13,405 85 13,320 17,242

1934 9 – 9 1,968 – 1,968 2,661
112

Deposit Payoff Cases2 All Cases1

Number Estimated Number Estimated

of Additional Estimated of Additional Estimated

Year Banks Disbursements Recoveries Recoveries Losses Banks Disbursements Recoveries Recoveries Losses

Recoveries and Losses by the Bank Insurance Fund on Disbursements for the Protection of Depositors, 

1934 through 2002

Dollars in Thousands

continued on next page

Total 2,221 110,418,984 71,313,524 497,813 38,607,647 608 16,144,064 11,018,429 308,556 4,817,079

2002 10 2,031,006 941,288 461,419 628,299 5 1,586,551 789,550 308,501 488,500

2001 3 48,676 40,165 3,016 5,495 0000 0

2000 6 268,730 228,911 3,824 35,995 0000 0

1999 7 1,244,453 403,677 11,048 829,728 0000 0

1998 3 286,597 53,152 5,966 227,479 0000 0

1997 1 25,546 20,520 0 5,026 0000 0

1996 5 169,386 130,736 0 38,650 0000 0

1995 6 609,045 524,528 58 84,459 0000 0

1994 13 1,224,769 1,045,691 32 179,046 0000 0

1993 41 1,797,302 1,150,918 313 646,071 5 261,203 159,268 0 101,935

1992 122 14,172,884 10,495,954 1,711 3,675,219 25 1,890,869 1,398,731 0 492,138

1991 127 21,412,652 15,271,553 4,965 6,136,134 21 1,468,407 1,000,733 0 467,674

1990 169 10,816,602 8,028,290 1,978 2,786,334 20 2,182,583 1,648,969 0 533,614

1989 207 11,445,829 5,243,600 3,428 6,198,801 32 2,116,556 1,262,140 0 854,416

1988 280 12,163,006 5,246,912 0 6,916,094 36 1,252,160 822,612 0 429,548

1987 203 5,037,871 3,015,050 55 2,022,766 51 2,103,792 1,400,945 55 702,792

1986 145 4,790,969 3,015,252 0 1,775,717 40 1,155,981 739,659 0 416,322

1985 120 2,920,687 1,913,452 0 1,007,235 29 523,789 411,175 0 112,614

1984 80 7,696,215 6,056,061 0 1,640,154 16 791,838 699,483 0 92,355

1983 48 3,807,082 2,400,044 0 1,407,038 9 148,423 122,484 0 25,939

1982 42 2,275,150 1,106,579 0 1,168,571 7 277,240 206,247 0 70,993

1981 10 888,999 107,221 0 781,778 2 35,736 34,598 0 1,138

1980 11 152,355 121,675 0 30,680 3 13,732 11,427 0 2,305

1979 10 90,489 74,372 0 16,117 3 9,936 9,003 0 933

1978 7 548,568 512,927 0 35,641 1 817 613 0 204

1977 6 26,650 20,654 0 5,996 0000 0

1976 17 599,397 561,532 0 37,865 3 11,416 9,660 0 1,756

1975 13 332,046 292,431 0 39,615 3 25,918 25,849 0 69

1974 5 2,403,277 2,259,633 0 143,644 0000 0

1973 6 435,238 368,852 0 66,386 3 16,771 16,771 0 0

1972 2 16,189 14,501 0 1,688 1 16,189 14,501 0 1,688

1971 7 171,646 171,430 0 216 5 53,767 53,574 0 193

1970 7 51,566 51,294 0 272 4 29,265 28,993 0 272

1969 9 42,072 41,910 0 162 4 7,596 7,513 0 83

1968 3 6,476 6,464 0 12 0000 0

1967 4 8,097 7,087 0 1,010 4 8,097 7,087 0 1,010

1966 7 10,020 9,541 0 479 1 735 735 0 0

1965 5 11,479 10,816 0 663 3 10,908 10,391 0 517

1964 7 13,712 12,171 0 1,541 7 13,712 12,171 0 1,541

1963 2 19,172 18,886 0 286 2 19,172 18,886 0 286

1962 000000000 0

1961 5 6,201 4,700 0 1,501 5 6,201 4,700 0 1,501

1960 1 4,765 4,765 0 0 1 4,765 4,765 0 0

1959 3 1,835 1,738 0 97 3 1,835 1,738 0 97

1958 4 3,051 3,023 0 28 3 2,796 2,768 0 28

1957 1 1,031 1,031 0 0 1 1,031 1,031 0 0

1956 2 3,499 3,286 0 213 1 2,795 2,582 0 213

1955 5 7,315 7,085 0 230 4 4,438 4,208 0 230

1954 2 1,029 771 0 258 0000 0

1953 2 5,359 5,359 000000 0

1952 3 1,525 733 0 792 0000 0

1951 2 1,986 1,986 000000 0

1950 4 4,404 3,019 0 1,385 0000 0

1949 4 2,685 2,316 0 369 0000 0

1948 3 3,150 2,509 0 641 0000 0

1947 5 2,038 1,979 0 59 0000 0

1946 1 274 274 000000 0

1945 1 1,845 1,845 000000 0

1944 2 1,532 1,492 0 40 1 404 364 0 40

1943 5 7,230 7,107 0 123 4 5,500 5,377 0 123

1942 20 11,684 10,996 0 688 6 1,612 1,320 0 292

1941 15 25,061 24,470 0 591 8 12,278 12,065 0 213

1940 43 87,899 84,103 0 3,796 19 4,895 4,313 0 582

1939 60 81,828 74,676 0 7,152 32 26,196 20,399 0 5,797

1938 74 34,394 31,969 0 2,425 50 9,092 7,908 0 1,184

1937 75 20,204 16,532 0 3,672 50 12,365 9,718 0 2,647

1936 69 15,206 12,873 0 2,333 42 7,735 6,397 0 1,338

1935 25 9,108 6,423 0 2,685 24 6,026 4,274 0 1,752

1934 9 941 734 0 207 9 941 734 0 207
113

Assistance Transactions1 Deposit Assumption Cases

Number Estimated Number Estimated

of Additional Estimated of Additional Estimated

Year Banks Disbursements Recoveries Recoveries Losses Banks Disbursements Recoveries Recoveries Losses

Recoveries and Losses by the Bank Insurance Fund on Disbursements for the Protection of Depositors, 

1934 through 2002 (continued)

Dollars in Thousands

Totals do not include dollar amounts for the five open bank assistance transactions between 1971 and 1980. Excludes eight transactions prior to 1962 that required no disbursements. 

Also, disbursements, recoveries, and estimated additional recoveries do not include working capital advances to and repayments by receiverships.

Includes insured deposit transfer cases.

Note: Beginning with the 1997 Annual Report the number of banks in the Assistance Transactions column for 1988 was changed from 21 to 80 and the number of banks in the All Cases 

column was changed from 221 to 280 to reflect that one assistance transaction encompassed 60 institutions. Also, certain 1982, 1983, 1989 and 1992 resolutions previously reported 

in either the Deposit Payoff or Deposit Assumption categories were reclassified.

1

2

Total 1,472 82,644,564 54,095,220 189,257 28,360.087 141 11,630,356 6,199,875 0 5,430,481

2002 5 444,455 151,738 152,918 139,799 0000 0

2001 3 48,676 40,165 3,016 5,495 0000 0

2000 6 268,730 228,911 3,824 35,995 0000 0

1999 7 1,244,453 403,677 11,048 829,728 0000 0

1998 3 286,597 53,152 5,966 227,479 0000 0

1997 1 25,546 20,520 0 5,026 0000 0

1996 5 169,386 130,736 0 38,650 0000 0

1995 6 609,045 524,528 58 84,459 0000 0

1994 13 1,224,769 1,045,691 32 179,046 0000 0

1993 36 1,536,099 991,650 313 544,136 0000 0

1992 95 12,280,529 9,095,987 1,711 3,182,831 2 1,486 1,236 0 250

1991 103 19,938,128 14,267,727 4,965 5,665,436 3 6,117 3,093 0 3,024

1990 148 8,629,084 6,376,724 1,978 2,250,382 1 4,935 2,597 0 2,338

1989 174 9,326,725 3,981,208 3,428 5,342,089 1 2,548 252 0 2,296

1988 164 9,180,495 4,234,591 0 4,945,904 80 1,730,351 189,709 0 1,540,642

1987 133 2,773,202 1,613,392 0 1,159,810 19 160,877 713 0 160,164

1986 98 3,476,140 2,209,924 0 1,266,216 7 158,848 65,669 0 93,179

1985 87 1,631,166 1,095,601 0 535,565 4 765,732 406,676 0 359,056

1984 62 1,373,198 941,674 0 431,524 2 5,531,179 4,414,904 0 1,116,275

1983 35 2,893,969 1,850,553 0 1,043,416 4 764,690 427,007 0 337,683

1982 25 268,372 213,578 0 54,794 10 1,729,538 686,754 0 1,042,784

1981 5 79,208 71,358 0 7,850 3 774,055 1,265 0 772,790

1980 7 138,623 110,248 0 28,375 1000 0

1979 7 80,553 65,369 0 15,184 0000 0

1978 6 547,751 512,314 0 35,437 0000 0

1977 6 26,650 20,654 0 5,996 0000 0

1976 13 587,981 551,872 0 36,109 1000 0

1975 10 306,128 266,582 0 39,546 0000 0

1974 4 2,403,277 2,259,633 0 143,644 1000 0

1973 3 418,467 352,081 0 66,386 0000 0

1972 000001000 0

1971 1 117,879 117,856 0 23 1000 0

1970 3 22,301 22,301 000000 0

1969 5 34,476 34,397 0 79 0000 0

1968 3 6,476 6,464 0 12 0000 0

1967 000000000 0

1966 6 9,285 8,806 0 479 0000 0

1965 2 571 425 0 146 0000 0

1964 000000000 0

1963 000000000 0

1962 000000000 0

1961 000000000 0

1960 000000000 0

1959 000000000 0

1958 1 255 255 000000 0

1957 000000000 0

1956 1 704 704 000000 0

1955 1 2,877 2,877 000000 0

1954 2 1,029 771 0 258 0000 0

1953 2 5,359 5,359 000000 0

1952 3 1,525 733 0 792 0000 0

1951 2 1,986 1,986 000000 0

1950 4 4,404 3,019 0 1,385 0000 0

1949 4 2,685 2,316 0 369 0000 0

1948 3 3,150 2,509 0 641 0000 0

1947 5 2,038 1,979 0 59 0000 0

1946 1 274 274 000000 0

1945 1 1,845 1,845 000000 0

1944 1 1,128 1,128 000000 0

1943 1 1,730 1,730 000000 0

1942 14 10,072 9,676 0 396 0000 0

1941 7 12,783 12,405 0 378 0000 0

1940 24 83,004 79,790 0 3,214 0000 0

1939 28 55,632 54,277 0 1,355 0000 0

1938 24 25,302 24,061 0 1,241 0000 0

1937 25 7,839 6,814 0 1,025 0000 0

1936 27 7,471 6,476 0 995 0000 0

1935 1 3,082 2,149 0 933 0000 0

1934 000000000 0
114

Income Expenses and Losses

Investment Effective Provision Administrative Interest and

Assessment Assessment and Other Assessment for and Operating Other Insur. Net Income/

Year Total Income Credits Sources Rate1 Total Losses Expenses2 Expenses (Loss)

Income and Expenses, Bank Insurance Fund, from Beginning of Operations, 

September 11, 1933, through December 31, 2002

Dollars in Millions

continued on next page

4

3

5

Total $ 85,503.1 $ 53,344.6 $ 6,709.1 $ 38,867.6 $ 54,264.6 $ 37,121.0 $ 10,160.6 $ 6,989.0 $ 31,238.5

2002 1,795.9 84.0 0.0 $ 1,711.9 0.0022% 750.6 (87.0) 821.1 16.5 1,045.3

2001 1,996.7 47.8 0.0 1,948.9 0.0014% 2,559.4 1,756.3 785.9 17.2 (562.7)

2000 1,905.9 45.1 0.0 1,860.8 0.0014% 645.2 (153.0) 772.9 25.3 1,260.7

1999 1,815.6 33.3 0.0 1,782.3 0.0011% 1,922.0 1,168.7 730.4 22.9 (106.4)

1998 2,000.3 21.7 0.0 1,978.6 0.0008% 691.5 (37.7) 697.6 31.6 1,308.8

1997 1,615.6 24.7 0.0 1,590.9 0.0008% 177.3 (503.7) 605.2 75.8 1,438.3

1996 1,655.3 72.7 0.0 1,582.6 0.0024% 254.6 (325.2) 505.3 74.5 1,400.7

1995 4,089.1 2,906.9 0.0 1,182.2 0.1240% 483.2 (33.2) 470.6 45.8 3,605.9

1994 6,467.0 5,590.6 0.0 876.4 0.2360% (2,259.1) (2,873.4) 423.2 191.1 8,726.1

1993 6,430.8 5,784.3 0.0 646.5 0.2440% (6,791.4) (7,677.4) 388.5 497.5 13,222.2

1992 6,301.5 5,587.8 0.0 713.7 0.2300% (625.8) (2,259.7) 570.8 1,063.1 6,927.3

1991 5,790.0 5,160.5 0.0 629.5 0.2125% 16,862.3 15,476.2 284.1 1,102.0 (11,072.3)

1990 3,838.3 2,855.3 0.0 983.0 0.1200% 13,003.3 12,133.1 219.6 650.6 (9,165.0)

1989 3,494.6 1,885.0 0.0 1,609.6 0.0833% 4,346.2 3,811.3 213.9 321.0 (851.6)

1988 3,347.7 1,773.0 0.0 1,574.7 0.0833% 7,588.4 6,298.3 223.9 1,066.2 (4,240.7)

1987 3,319.4 1,696.0 0.0 1,623.4 0.0833% 3,270.9 2,996.9 204.9 69.1 48.5

1986 3,260.1 1,516.9 0.0 1,743.2 0.0833% 2,963.7 2,827.7 180.3 (44.3) 296.4

1985 3,385.4 1,433.4 0.0 1,952.0 0.0833% 1,957.9 1,569.0 179.2 209.7 1,427.5

1984 3,099.5 1,321.5 0.0 1,778.0 0.0800% 1,999.2 1,633.4 151.2 214.6 1,100.3

1983 2,628.1 1,214.9 164.0 1,577.2 0.0714% 969.9 675.1 135.7 159.1 1,658.2

1982 2,524.6 1,108.9 96.2 1,511.9 0.0769% 999.8 126.4 129.9 743.5 1,524.8

1981 2,074.7 1,039.0 117.1 1,152.8 0.0714% 848.1 320.4 127.2 400.5 1,226.6

1980 1,310.4 951.9 521.1 879.6 0.0370% 83.6 (38.1) 118.2 3.5 1,226.8

1979 1,090.4 881.0 524.6 734.0 0.0333% 93.7 (17.2) 106.8 4.1 996.7

1978 952.1 810.1 443.1 585.1 0.0385% 148.9 36.5 103.3 9.1 803.2

1977 837.8 731.3 411.9 518.4 0.0370% 113.6 20.8 89.3 3.5 724.2

1976 764.9 676.1 379.6 468.4 0.0370% 212.3 28.0 180.4 3.9 552.6

1975 689.3 641.3 362.4 410.4 0.0357% 97.5 27.6 67.7 2.2 591.8

1974 668.1 587.4 285.4 366.1 0.0435% 159.2 97.9 59.2 2.1 508.9

1973 561.0 529.4 283.4 315.0 0.0385% 108.2 52.5 54.4 1.3 452.8

1972 467.0 468.8 280.3 278.5 0.0333% 59.7 10.1 49.6 6.0 407.3

1971 415.3 417.2 241.4 239.5 0.0345% 60.3 13.4 46.9 0.0 355.0

1970 382.7 369.3 210.0 223.4 0.0357% 46.0 3.8 42.2 0.0 336.7

1969 335.8 364.2 220.2 191.8 0.0333% 34.5 1.0 33.5 0.0 301.3

1968 295.0 334.5 202.1 162.6 0.0333% 29.1 0.1 29.0 0.0 265.9

1967 263.0 303.1 182.4 142.3 0.0333% 27.3 2.9 24.4 0.0 235.7

1966 241.0 284.3 172.6 129.3 0.0323% 19.9 0.1 19.8 0.0 221.1

1965 214.6 260.5 158.3 112.4 0.0323% 22.9 5.2 17.7 0.0 191.7

1964 197.1 238.2 145.2 104.1 0.0323% 18.4 2.9 15.5 0.0 178.7

1963 181.9 220.6 136.4 97.7 0.0313% 15.1 0.7 14.4 0.0 166.8

1962 161.1 203.4 126.9 84.6 0.0313% 13.8 0.1 13.7 0.0 147.3
115

Investment Effective Provision Administrative Interest and

Assessment Assessment and Other Assessment for and Operating Other Insur. Net Income/

Year Total Income Credits Sources Rate Total Losses Expenses2 Expenses (Loss)

Income Expenses and Losses

Income and Expenses, Bank Insurance Fund, from Beginning of Operations, 

September 11, 1933, through December 31, 2002 (continued)

Dollars in Millions

The effective rates from 1950 through 1984 vary from the statutory rate of 0.0833 percent due to assessment credits provided in those years. The statutory rate increased to 0.12 

percent in 1990 and to a minimum of 0.15 percent in 1991. The effective rates in 1991 and 1992 vary because the FDIC exercised new authority to increase assessments above the 

statutory rate when needed. Beginning in 1993, the effective rate is based on a risk-related premium system under which institutions pay assessments in the range of 0.23 percent 

to 0.31 percent. In May 1995, the BIF reached the mandatory recapitalization level of 1.25%. As a result, the assessment rate was reduced to 4.4 cents per $100 of insured deposits 

and assessment premiums totaling $1.5 billion were refunded in September 1995.

These expenses, which are presented as operating expenses in the Statements of Income and Fund Balance, pertain to the FDIC in its corporate capacity only and do not include costs 

that are charged to the failed bank receiverships that are managed by the FDIC. The receivership expenses are presented as part of the "Receivables from Bank Resolutions, net" line 

on the Statements of Financial Position. The narrative and graph presented in the "Corporate Planning and Budget" section of this report (next page) show the aggregate (corporate and 

receivership) expenditures of the FDIC.

Includes $210 million for the cumulative effect of an accounting change for certain postretirement benefits.

Includes $105.6 million net loss on government securities.

This amount represents interest and other insurance expenses from 1933 to 1972.

Includes the aggregate amount of $80.6 million of interest paid on capital stock between 1933 and 1948.

1

2

3

4

5

6

1

6

Total $ 85,503.1 $ 53,344.6 $ 6,709.1 $ 38,867.6 $ 54,264.6 $ 37,121.0 $ 10,160.6 $ 6,989.0 $ 31,238.5

1961 147.3 188.9 115.5 73.9 0.0323% 14.8 1.6 13.2 0.0 132.5

1960 144.6 180.4 100.8 65.0 0.0370% 12.5 0.1 12.4 0.0 132.1

1959 136.5 178.2 99.6 57.9 0.0370% 12.1 0.2 11.9 0.0 124.4

1958 126.8 166.8 93.0 53.0 0.0370% 11.6 0.0 11.6 0.0 115.2

1957 117.3 159.3 90.2 48.2 0.0357% 9.7 0.1 9.6 0.0 107.6

1956 111.9 155.5 87.3 43.7 0.0370% 9.4 0.3 9.1 0.0 102.5

1955 105.8 151.5 85.4 39.7 0.0370% 9.0 0.3 8.7 0.0 96.8

1954 99.7 144.2 81.8 37.3 0.0357% 7.8 0.1 7.7 0.0 91.9

1953 94.2 138.7 78.5 34.0 0.0357% 7.3 0.1 7.2 0.0 86.9

1952 88.6 131.0 73.7 31.3 0.0370% 7.8 0.8 7.0 0.0 80.8

1951 83.5 124.3 70.0 29.2 0.0370% 6.6 0.0 6.6 0.0 76.9

1950 84.8 122.9 68.7 30.6 0.0370% 7.8 1.4 6.4 0.0 77.0

1949 151.1 122.7 0.0 28.4 0.0833% 6.4 0.3 6.1 0.0 144.7

1948 145.6 119.3 0.0 26.3 0.0833% 7.0 0.7 6.3 0.0 138.6

1947 157.5 114.4 0.0 43.1 0.0833% 9.9 0.1 9.8 0.0 147.6

1946 130.7 107.0 0.0 23.7 0.0833% 10.0 0.1 9.9 0.0 120.7

1945 121.0 93.7 0.0 27.3 0.0833% 9.4 0.1 9.3 0.0 111.6

1944 99.3 80.9 0.0 18.4 0.0833% 9.3 0.1 9.2 0.0 90.0

1943 86.6 70.0 0.0 16.6 0.0833% 9.8 0.2 9.6 0.0 76.8

1942 69.1 56.5 0.0 12.6 0.0833% 10.1 0.5 9.6 0.0 59.0

1941 62.0 51.4 0.0 10.6 0.0833% 10.1 0.6 9.5 0.0 51.9

1940 55.9 46.2 0.0 9.7 0.0833% 12.9 3.5 9.4 0.0 43.0

1939 51.2 40.7 0.0 10.5 0.0833% 16.4 7.2 9.2 0.0 34.8

1938 47.7 38.3 0.0 9.4 0.0833% 11.3 2.5 8.8 0.0 36.4

1937 48.2 38.8 0.0 9.4 0.0833% 12.2 3.7 8.5 0.0 36.0

1936 43.8 35.6 0.0 8.2 0.0833% 10.9 2.6 8.3 0.0 32.9

1935 20.8 11.5 0.0 9.3 0.0833% 11.3 2.8 8.5 0.0 9.5

1933/4 7.0 0.0 0.0 7.0 N/A 10.0 0.2 9.8 0.0 (3.0)
116

FDIC

RTC

$ 2,500

2,000

1,500

1,000

500

0

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002

FDIC Expenditures 1993-2002

The FDIC’s Strategic Plan and Annual

Performance Plan provide the basis

for annual planning and budgeting 

for needed resources. The 2002

aggregate budget (for corporate,

receivership and capital spending)

was $1.22 billion, while actual

expenditures for the year were 

$1.19 billion, about $146 million

more than 2001 expenditures.

Over the past 10 years, the FDIC’s

expenditures have increased and

decreased in response to workload.

During the past decade, expenditures

generally declined due to decreasing

resolution and receivership activity,

Corporate Planning and Budget

Dollars in Millions

although they temporarily increased 

in 1996 in conjunction with the

absorption of the Resolution Trust

Corporation (RTC) and its residual

operations and workload. Total 

expenditures increased in 2002 due

to an increase in receivership-related

expenses. 

The largest component of FDIC 

spending is for the costs associated

with staffing. The FDIC’s staff has

declined each year during the past

seven years. Staffing decreased by

12.0 percent in 2002, from 6,167

employees at the beginning of the

year to 5,430 at the end of the year.

Note: Resolution Trust Corporation (RTC) expenditures became the responsibility of the FDIC on January 1, 1996.
117

Deposits in Insured Banks ($ millions) Insurance Fund as a Percentage of

1

2002 $ 100,000 $ 3,764,891 $ 2,508,918 66.6 $ 31,383.3 0.83 1.25

2001 100,000 3,584,610 2,408,878 67.2 30,438.8 0.85 1.26

2000 100,000 3,326,745 2,301,604 69.2 30,975.2 0.93 1.35

1999 100,000 3,038,385 2,157,536 71.0 29,414.2 0.97 1.36

1998 100,000 2,996,396 2,141,268 71.5 29,612.3 0.99 1.38

1997 100,000 2,785,990 2,055,874 73.8 28,292.5 1.02 1.38

1996 100,000 2,642,107 2,007,447 76.0 26,854.4 1.02 1.34

1995 100,000 2,575,966 1,952,543 75.8 25,453.7 0.99 1.30

1994 100,000 2,463,813 1,896,060 77.0 21,847.8 0.89 1.15

1993 100,000 2,493,636 1,906,885 76.5 13,121.6 0.53 0.69

1992 100,000 2,512,278 1,945,623 77.4 (100.6) (0.00) (0.01)

1991 100,000 2,520,074 1,957,722 77.7 (7,027.9) (0.28) (0.36)

1990 100,000 2,540,930 1,929,612 75.9 4,044.5 0.16 0.21

1989 100,000 2,465,922 1,873,837 76.0 13,209.5 0.54 0.70

1988 100,000 2,330,768 1,750,259 75.1 14,061.1 0.60 0.80

1987 100,000 2,201,549 1,658,802 75.3 18,301.8 0.83 1.10

1986 100,000 2,167,596 1,634,302 75.4 18,253.3 0.84 1.12

1985 100,000 1,974,512 1,503,393 76.1 17,956.9 0.91 1.19

1984 100,000 1,806,520 1,389,874 76.9 16,529.4 0.92 1.19

1983 100,000 1,690,576 1,268,332 75.0 15,429.1 0.91 1.22

1982 100,000 1,544,697 1,134,221 73.4 13,770.9 0.89 1.21

1981 100,000 1,409,322 988,898 70.2 12,246.1 0.87 1.24

1980 100,000 1,324,463 948,717 71.6 11,019.5 0.83 1.16

1979 40,000 1,226,943 808,555 65.9 9,792.7 0.80 1.21

1978 40,000 1,145,835 760,706 66.4 8,796.0 0.77 1.16

1977 40,000 1,050,435 692,533 65.9 7,992.8 0.76 1.15

1976 40,000 941,923 628,263 66.7 7,268.8 0.77 1.16

1975 40,000 875,985 569,101 65.0 6,716.0 0.77 1.18

1974 40,000 833,277 520,309 62.5 6,124.2 0.73 1.18

1973 20,000 766,509 465,600 60.7 5,615.3 0.73 1.21

1972 20,000 697,480 419,756 60.2 5,158.7 0.74 1.23

1971 20,000 610,685 374,568 61.3 4,739.9 0.78 1.27

1970 20,000 545,198 349,581 64.1 4,379.6 0.80 1.25

1969 20,000 495,858 313,085 63.1 4,051.1 0.82 1.29

1968 15,000 491,513 296,701 60.2 3,749.2 0.76 1.26

1967 15,000 448,709 261,149 58.2 3,485.5 0.78 1.33

1966 15,000 401,096 234,150 58.4 3,252.0 0.81 1.39

1965 10,000 377,400 209,690 55.6 3,036.3 0.80 1.45

1964 10,000 348,981 191,787 55.0 2,844.7 0.82 1.48

1963 10,000 313,304 177,381 56.6 2,667.9 0.85 1.50

1962 10,000 297,548 170,210 57.2 2,502.0 0.84 1.47

1961 10,000 281,304 160,309 57.0 2,353.8 0.84 1.47

1960 10,000 260,495 149,684 57.5 2,222.2 0.85 1.48

1959 10,000 247,589 142,131 57.4 2,089.8 0.84 1.47

1958 10,000 242,445 137,698 56.8 1,965.4 0.81 1.43

1957 10,000 225,507 127,055 56.3 1,850.5 0.82 1.46

1956 10,000 219,393 121,008 55.2 1,742.1 0.79 1.44

1955 10,000 212,226 116,380 54.8 1,639.6 0.77 1.41

1954 10,000 203,195 110,973 54.6 1,542.7 0.76 1.39

1953 10,000 193,466 105,610 54.6 1,450.7 0.75 1.37

1952 10,000 188,142 101,841 54.1 1,363.5 0.72 1.34

1951 10,000 178,540 96,713 54.2 1,282.2 0.72 1.33

1950 10,000 167,818 91,359 54.4 1,243.9 0.74 1.36

1949 5,000 156,786 76,589 48.8 1,203.9 0.77 1.57

1948 5,000 153,454 75,320 49.1 1,065.9 0.69 1.42

1947 5,000 154,096 76,254 49.5 1,006.1 0.65 1.32

1946 5,000 148,458 73,759 49.7 1,058.5 0.71 1.44

1945 5,000 157,174 67,021 42.4 929.2 0.59 1.39

1944 5,000 134,662 56,398 41.9 804.3 0.60 1.43

1943 5,000 111,650 48,440 43.4 703.1 0.63 1.45

1942 5,000 89,869 32,837 36.5 616.9 0.69 1.88

1941 5,000 71,209 28,249 39.7 553.5 0.78 1.96

1940 5,000 65,288 26,638 40.8 496.0 0.76 1.86

1939 5,000 57,485 24,650 42.9 452.7 0.79 1.84

1938 5,000 50,791 23,121 45.5 420.5 0.83 1.82

1937 5,000 48,228 22,557 46.8 383.1 0.79 1.70

1936 5,000 50,281 22,330 44.4 343.4 0.68 1.54

1935 5,000 45,125 20,158 44.7 306.0 0.68 1.52

1934 5,000 40,060 18,075 45.1 291.7 0.73 1.61

Total Estimated Percentage Deposit Total Estimated

Insurance Domestic Insured of Insured Insurance Domestic Insured

Year Coverage Deposits Deposits Deposits Fund Deposits Deposits

Estimated Insured Deposits and the Bank Insurance Fund, December 31,1934, through September 30, 2002 

2 3

4

2

3

For 2002, the numbers are as of September 30, and prior years reflect December 31.

Starting in 1990, deposits in insured banks exclude those deposits held by Bank Insurance Fund members that are insured by the Savings Association Insurance Fund and include those

deposits held by Savings Association Insurance Fund members that are insured by the Bank Insurance Fund.

Estimated insured deposits reflect deposit information as reported in the fourth quarter FDIC Quarterly Banking Profile. Before 1991, insured deposits were estimated using percentages 

determined from the June 30 Call Reports.

Initial coverage was $2,500 from January 1 to June 30, 1934. 4

1
118

Income Expenses and Losses

Income and Expenses, Savings Association Insurance Fund, by Year, 

from Beginning of Operations, August 9, 1989, through December 31, 2002

Dollars in Thousands

Funding

Investment Interest Administrative Transfer

and Effective Provision and Other and from

Assessment Other Assessment for Insurance Operating the FSLIC Net Income

Year Total Income Sources Rate Total Losses Expenses Expenses Resolut. Fund (Loss)

Total $ 12,794,479 $ 8,627,989 $ 4,166,490 $ 1,468,260 $ 551,239 $ 29,800 $ 887,221 $ 139,498 $ 11,465,717

2002 588,821 23,783 565,038 0.003% (31,380) (156,494) 751 124,363 0 620,201

2001 733,121 35,402 697,719 0.004% 564,083 443,103 19,389 101,591 0 169,038

2000 664,080 19,237 644,843 0.002% 300,018 180,805 8,293 110,920 0 364,062

1999 600,995 15,116 585,879 0.002% 124,156 30,648 626 92,882 0 476,839

1998 583,859 15,352 568,507 0.002% 116,629 31,992 9 84,628 0 467,230

1997 549,912 13,914 535,998 0.004% 69,986 (1,879) 0 71,865 0 479,926

1996 5,501,684 5,221,560 280,124 0.204% (28,890) (91,636) 128 62,618 0 5,530,574

1995 1,139,916 970,027 169,889 0.234% (281,216) (321,000) 0 39,784 0 1,421,132

1994 1,215,289 1,132,102 83,187 0.244% 434,303 414,000 0 20,303 0 780,986

1993 923,516 897,692 25,824 0.250% 46,814 16,531 0 30,283 0 876,702

1992 178,643 172,079 6,564 0.230% 28,982 (14,945) (5) 43,932 35,446 185,107

1991 96,446 93,530 2,916 0.230% 63,085 20,114 609 42,362 42,362 75,723

1990 18,195 18,195 0 0.208% 56,088 0 0 56,088 56,088 18,195

1989 2 0 2 0.208% 5,602 0 0 5,602 5,602 2

1

FDIC-Insured Institutions Closed During 2002

Dollars in Thousands

Number of Date of Receiver/

Name and Bank Deposit Total Total FDIC Estimated Closing or Assuming Bank

Location Class Accounts Assets Deposits Disbursements Loss Acquisition and Location

Bank Insurance Fund

Insured Deposit Payouts

Hamilton Bank, NA Israel Discount Bank of New York Miami, FL N 29,540 $ 1,231,646 $ 1,081,788 $ 1,028,668 $ 171,500 01.11.02 New York, NY

NextBank, NA Federal Deposit

Phoenix, AZ N 4,017 668,681 502,858 548,511 300,000-350,000 02.07.02 Insurance Corporation

New Century Bank Federal Deposit

Shelby Township, MI SM 687 18,714 17,954 17,372 6,300 03.28.02 Insurance Corporation

AmTrade Inter. Bank of Georgia Federal Deposit

Atlanta, GA SM 1,223 9,620 10,595 7,195 7,400 09.30.02 Insurance Corporation

Bank of Alamo Federal Deposit

Alamo, TN NM 6,295 $ 59,818 $ 50,066 $ 59,208 $ 3,300 11.08.02 Insurance Corporation

Purchase and Assumption - Insured Deposits

The Farmers Bank and Trust

of Cheneyville Sabine State Bank and Trust Co.

Cheneyville, LA NM 2,587 $ 35,424 $ 32,954 $ 29,659 $ 10,600 12.17.02 Many, LA

Insured Deposit Transfer - Asset Purchase

Bank of Sierra Blanca The Security State Bank of Pecos

Sierra Blanca, TX NM 1,277 $ 10,536 $ 10,720 $ 10,718 $ 4,337 01.18.02 Pecos, TX

Oakwood Deposit Bank Company The State Bank and Trust Company

Oakwood, OH SM 7,336 61,607 118,862 116,221 61,862 02.01.02 Defiance, OH

Net First National Bank Bank Leumi USA

Boca Raton, FL N 1,457 32,861 28,830 28,693 0 03.01.02 New York, NY

Connecticut Bank of Commerce Hudson United Bank

Stamford, CT NM 18,381 $ 378,658 $ 269,874 $ 259,165 $ 63,000 06.26.02 Mahwah, NJ

Savings Association Insurance Fund

Insured Deposit Transfer - Asset Purchase

Universal Federal Savings Bank Chicago Community Bank

Chicago, IL SA 5,370 $ 50,246 $ 50,542 $ 37,021 $ 1, 497 06.27.02 Chicago, IL

Codes for N – NM – SM – SA -

Bank Class: National bank State-chartered bank that is not State-chartered bank that is a member Savings association

a member of the Federal Reserve System of the Federal Reserve System

Estimated losses are as of December 31, 2002. Estimated losses are routinely adjusted with updated information from new appraisals and asset sales, which ultimately affect the asset 

values and projected recoveries.

1
119

Deposits in Insured Institutions ($ Millions) Insurance Fund as a Percentage of 

Total Estimated Percentage of Deposit Total Estimated

Insurance Domestic Insured Insured Insurance Domestic Insured

Year2 Coverage Deposits Deposits Deposits Fund Deposits Deposits

For 2002, the numbers are as of September 30, and prior years reflect December 31.

Starting in 1990, deposits in insured institutions exclude those deposits held by Savings Association Insurance Fund members that are insured by the Bank Insurance Fund and include 

those deposits held by Bank Insurance Fund members that are insured by the Savings Association Insurance Fund.

Estimated insured deposits reflect deposit information as reported in the fourth quarter FDIC Quarterly Banking Profile. Before 1991, insured deposits were estimated using percentages 

determined from the June 30 Call Reports.

1

2

3

Estimated Insured Deposits and the Savings Association Insurance Fund, 

December 31, 1989, through September 30, 2002

2002 $ 100,000 $ 958,935 $ 837,591 87.3 $ 11,585.8 1.21 1.38

2001 100,000 897,278 801,849 89.4 10,935.0 1.22 1.36

2000 100,000 822,610 752,756 91.5 10,758.6 1.31 1.43

1999 100,000 764,359 711,345 93.1 10,280.7 1.35 1.45

1998 100,000 751,413 708,959 94.4 9,839.8 1.31 1.39

1997 100,000 721,503 690,132 95.7 9,368.3 1.30 1.36

1996 100,000 708,749 683,090 96.4 8,888.4 1.25 1.30

1995 100,000 742,547 711,017 95.8 3,357.8 0.45 0.47

1994 100,000 720,823 692,626 96.1 1,936.7 0.27 0.28

1993 100,000 726,473 695,158 95.7 1,155.7 0.16 0.17

1992 100,000 760,902 729,458 95.9 279.0 0.04 0.04

1991 100,000 810,664 776,351 95.8 93.9 0.01 0.01

1990 100,000 874,738 830,028 94.9 18.2 0.00 0.00

1989 100,000 948,144 882,920 93.1 0.0 0.00 0.00

3

Estimated

Receivership

Year 2 Total Assets Deposits Loss Loss to Funds

Total 753 396,341,365 319,345,975 75,048,291 82,155,438

2002 1 50,246 50,542 1,497 1,497

2001 1 2,179,783 1,670,802 440,000 440,000

2000 1 29,530 28,583 1,402 1,402

1999 1 62,956 63,427 1,343 1,343

1998 0 0 0 0 0

1997 0 0 0 0 0

1996 1 32,576 32,745 21,222 21,222

1995 2 423,819 414,692 28,192 27,750

1994 2 136,815 127,508 11,472 14,599

1993 10 6,147,962 4,881,461 279,494 144,196

1992 59 44,196,946 34,773,224 3,102,343 3,676,057

1991 144 78,898,704 65,173,122 8,436,998 9,082,403

1990 213 129,662,398 98,963,960 16,034,438 19,230,580

19895 318 134,519,630 113,165,909 46,689,890 49,514,389

Number, Assets, Deposits, Losses, and Loss to Funds of Insured Thrifts Taken Over 

or Closed Because of Financial Difficulties, 1989 through 20021

Dollars in Thousands

3 4

Prior to July 1, 1995, all thrift closings were the responsibility of the Resolution Trust Corporation (RTC). Since the RTC was terminated on December 31, 1995, and all assets and liabilities 

transferred to the FSLIC Resolution Fund (FRF), all the results of the thrift closing activity from 1989 through 1995 are now reflected on FRF's books. The Savings Association Insurance 

Fund (SAIF) became responsible for all thrifts closed after June 30, 1995; there have been only five such failures. Additionally, SAIF was appointed receiver of one thrift (Heartland FSLA) 

on October 8, 1993, because, at that time, RTC's authority to resolve FSLIC-insured thrifts had not yet been extended by the RTC Completion Act.

Year is the year of failure, not the year of resolution.

The estimated losses represent the projected loss at the fund level from receiverships for unreimbursed subrogated claims of the FRF/SAIF and unpaid advances to receiverships from 

the FRF.

The Loss to Funds represents the total resolution cost of the failed thrifts in the SAIF and FRF-RTC funds, which includes corporate revenue and expense items such as interest expense 

on Federal Financing Bank debt, interest expense on escrowed funds, and interest revenue on advances to receiverships, in addition to the estimated losses for receiverships.

Total for 1989 excludes nine failures of the former FSLIC.

1

2

3

4

5

1
120

2002 2001 2000

Deposit Insurance 112 133 205

Approved 112 133 205

Denied 0 0 0

New Branches 1,285 1,010 1,286

Approved 1,285 1,010 1,286

Denied 0 0 0

Mergers 201 266 316

Approved 201 266 316

Denied 0 0 0

Requests for Consent to Serve●295 231 249

Approved 295 231 248

Section 19 12 19 15

Section 32 283 212 233

Denied 0 0 1

Section 19 0 0 1

Section 32 0 0 0

Notices of Change in Control 31 21 28

Letters of Intent Not to Disapprove 31 21 28

Disapproved 0 0 0

Brokered Deposit Waivers 33 21 25

Approved 33 21 25

Denied 0 0 0

Savings Association Activities■69 76 80

Approved 69 76 80

Denied 0 0 0

State Bank Activities/Investments▼26 29 36

Approved 26 29 36

Denied 0 0 0

Conversions of Mutual Institutions 4 4 8

Non-Objection 4 4 8

Objection 0 0 0

Under Section 19 of the Federal Deposit Insurance (FDI) Act, an insured institution must receive FDIC approval before 

employing a person convicted of dishonesty or breach of trust. Under Section 32, the FDIC must approve any change 

of directors or senior executive officers at a state nonmember bank that is not in compliance with capital requirements 

or is otherwise in troubled condition.

Amendments to Part 303 of the FDIC Rules and Regulations changed FDIC oversight responsibility in October 1998.

Section 24 of the FDI Act, in general, precludes an insured state bank from engaging in an activity not permissible for

a national bank and requires notices be filed with the FDIC. 

FDIC Applications 2000-2002

●

■

▼
121

2002 2001 2000

Total Number of Actions Initiated by the FDIC 162 144 87

Termination of Insurance 

Involuntary Termination

Sec. 8a For Violations, Unsafe/Unsound Practices or Condition 0 0 1

Voluntary Termination 

Sec.8a By Order Upon Request 0 0 0

Sec.8p No Deposits 7 4 6

Sec.8q Deposits Assumed 7 6 5

Sec. 8b Cease-and-Desist Actions

Notices of Charges Issued 4 3 4

Consent Orders 44 33 26

Sec. 8e Removal/Prohibition of Director or Officer 

Notices of Intention to Remove/Prohibit 4 4 3

Consent Orders 15 11 17

Sec. 8g Suspension/Removal When Charged With Crime 0 0 0

Civil Money Penalties Issued

Sec.7a Call Report Penalties 1 4 3

Sec.8i Civil Money Penalties 65 71 11

Sec. 10c Orders of Investigation 7 7 7

Sec. 19 Denials of Service After Criminal Conviction 0 0 1

Sec. 32 Notices Disapproving Officer/Director’s Request for Review 0 0 0

Truth in Lending Act Reimbursement Actions

Denials of Requests for Relief 0 1 0

Grants of Relief 0 0 0

Banks Making Reimbursement ▲106 189 127

Suspicious Activity Reports (Open and closed institutions)▲42,123 28,750 20,720

Other Actions Not Listed 8 0 3

Two actions included Sec.8 (c) temporary orders.

One action included a Sec.8 (e) suspension order.

These actions do not constitute the initiation of a formal enforcement action and, therefore, are not included in the total 

number of actions initiated.

Compliance, Enforcement and Other Related Legal Actions 2000-2002

●

■

●

●.

■

▲
122

In addition to his professional

experience as a banker, Mr. Powell

has served on numerous boards 

at universities, civic associations, 

hospitals and charities. 

He has been Chairman of the Board

of Regents of the Texas A&M

University System, which has more

than 90,000 students. Mr. Powell

also serves as Advisory Board

Member of the George Bush School

of Government and Public Service

and as former Chairman of the

Amarillo Chamber of Commerce. 

Mr. Powell has also served on the

Board of many other nonprofit, 

public and community organizations,

including the United Way, the

Harrington Regional Medical Center,

the City of Amarillo Housing Board,

and a number of other educational

institutions. 

He received his B.S. in economics

from West Texas State University and

is a graduate of The Southwestern

Graduate School of Banking at

Southern Methodist University.

Donald E. Powell

Don Powell was sworn in as the

18th Chairman of the FDIC in 

August 2001. During the past year

he has worked to maintain the

FDIC’s reputation of excellence 

while positioning the organization 

to meet the needs of a rapidly 

evolving banking industry.

Prior to being named FDIC Chairman

by President George W. Bush, 

Mr. Powell – a life-long Texan – 

was President and CEO of The First

National Bank of Amarillo, where he

started his banking career in 1971. 

Appendix B–

More About the FDIC

Board of Directors
123

John M. Reich 

Mr. Reich became Vice Chairman 

of the FDIC Board of Directors 

on November 15, 2002, and has

served as a Board member since

January 16, 2001. Following

Chairman Donna Tanoue’s resignation

in July 2001 and until Mr. Powell

took office in August 2001, Mr. Reich

was Acting Chairman of the FDIC.

Mr. Reich enjoyed a 23-year career

as a community banker in Illinois 

and Florida, the last 10 years of

which were as President and CEO 

of the National Bank of Sarasota,

Sarasota, FL.

Before joining the FDIC, Mr. Reich

served for 12 years on the staff of

U.S. Senator Connie Mack (R-FL).

From 1998 through 2000, he was

Senator Mack’s Chief of Staff, 

directing and overseeing all of the

Senator’s offices and committee

activities, including the Senate

Banking Committee. 

Mr. Reich’s substantial community

service includes serving as Chairman

of the Board of Trustees of a public

hospital facility in Ft. Myers, FL, and

Chairman of the Board of Directors

of the Sarasota Family YMCA. He

has also served as a Board member

for a number of civic organizations,

and was active for many years in

youth baseball programs.

Mr. Reich holds a B.S. degree from

Southern Illinois University and 

an M.B.A. from the University of 

South Florida. He is also a graduate

of Louisiana State University’s

School of Banking of the South.

John D. Hawke, Jr.

Mr. Hawke was sworn in as the 

28th Comptroller of the Currency on

December 8, 1998. After serving 10

months under a recess appointment,

he was sworn in for a full five-year term

on October 13, 1999. As Comptroller,

Mr. Hawke serves as an FDIC Board

member. 

Prior to his appointment as

Comptroller, Mr. Hawke served

for three and a half years as Under

Secretary of the Treasury for Domestic

Finance. Before joining Treasury, 

Mr. Hawke was a senior partner at the 

Washington, DC, law firm of Arnold 

& Porter, where he began as an associate in 1962. While there, he headed

the financial institutions practice, and

from 1987 to 1995, served as the 

firm’s Chairman. In 1975, he left the

firm to serve as General Counsel to

the Board of Governors of the Federal

Reserve System, returning in 1978.

Mr. Hawke graduated from Yale

University in 1954 with a B.A. in

English. From 1955 to 1957, he served

on active duty with the U.S. Air Force.

After graduating in 1960 from Columbia

University School of Law, where he

was Editor-in-Chief of the Columbia

Law Review, Mr. Hawke was a law

clerk for Judge E. Barrett Prettyman

on the U.S. Court of Appeals for 

the District of Columbia Circuit. From

1961 to 1962, he served as counsel to

the Select Subcommittee on Education

in the House of Representatives.

From 1970 to 1987, Mr. Hawke taught

courses on federal regulation of banking at Georgetown University Law

Center. He has also taught courses

on bank acquisitions and financial 

regulation, and served as the Chairman

of the Board of Advisors of the 

Morin Center for Banking Law Studies

in Boston. Mr. Hawke has written

extensively on matters relating to the

regulation of financial institutions. 

James E. Gilleran

Mr. Gilleran became Director of the

Office of Thrift Supervision (OTS) 

on December 7, 2001. As OTS

Director, Mr. Gilleran is also an 

FDIC Board member.

Mr. Gilleran was Chairman and CEO

of the Bank of San Francisco from

October 1994 until December 2000.

From 1989 to 1994, he was the

California State Banking Superintendent. He served as Chairman 

of the Conference of State Bank

Supervisors (CSBS) from 1993 to

1994, and was a member of the

CSBS’s Bankers Advisory Council

until 2000. 

Prior to his service as the California

Banking Superintendent, Mr. Gilleran

was managing partner of the

Northern California practice of the

public accounting firm KPMG Peat

Marwick. Before serving as managing

partner, he was in charge of KPMG’s

banking practice in the western

region of the U.S. He was with

KPMG from 1958 through 1987.

Mr. Gilleran has also been involved 

in a number of educational, civic and

charitable organizations, including

serving as Chairman of the American

Red Cross of the (San Francisco) 

Bay Area. 

Mr. Gilleran is a certified public

accountant and a member of the

American Institute of CPAs. He 

graduated from Pace University in

1955, and received his law degree

from Northwestern California

University in 1996. 
124

FDIC Organization Chart/Officials

as of December 31, 2002

Board of Directors

Donald E. Powell

John M. Reich

John D. Hawke, Jr.

James E. Gilleran

Office of the Chairman

Donald E. Powell

Chairman

Office of Inspector 

General

Gaston L. Gianni, Jr.

Inspector General

Deputy 

to the Chairman

John M. Brennan

Special Advisor 

to the Chairman

C.K.Lee

Acting Chief 

Information Officer

Carol M. Heindel

Chief of Staff

Jodey C. Arrington

Deputy to the Chairman 

and Chief Operating Officer

John F. Bovenzi

Division of Insurance 

and Research

Arthur J. Murton

Director

Division of Resolutions 

and Receiverships

Mitchell L. Glassman

Director

Division of 

Administration

Arleas Upton Kea

Director

Office of Legislative 

Affairs

Alice C. Goodman

Director

Legal 

Division 

William F. Kroener, III

General Counsel

Division of Supervision 

and Consumer Protection

Michael J. Zamorski

Director

Division of Information 

Resources Management

Carol M. Heindel

Acting Director

Office of Diversity and 

Economic Opportunity

D. Michael Collins

Director

Office of 

Public Affairs

Phil Battey

Director

Office of the 

Ombudsman

Cottrell L. Webster

Ombudsman

Division of 

Finance

Frederick S. Selby

Director

Office of Internal 

Control Management

Vijay G. Deshpande

Director

General

Counsel

William F. Kroener, III

Deputy to the Chairman 

and Chief Financial Officer

Steven O. App 
125

24,000

21,000

18,000

15,000

12,000

9,000

6,000

3,000

0

RTC

FDIC

Total Staffing

Note:

All staffing totals reflect year-end balances.

The Resolution Trust Corporation (RTC) was fully staffed with FDIC employees and, until February 1992, the RTC was managed by the FDIC Board 

of Directors. Upon the RTC’s sunset at year-end 1995, all of its remaining workload and employees were transferred to the FDIC.

1993 94 95 96 97 98 99 2000 01 02

Staffing Trends 1993-2002

6,775 5,899 2,043 

14,219 11,627 9,813 9,151 7,793 7,359 7,266 6,452 6,167 5,430 

20,994 17,526 11,856 9,151 7,793 7,359 7,266 6,452 6,167 5,430 

Corporate Staffing
126

Number of Officials and Employees of the FDIC 2001-2002 (year-end)

Total Washington Regional/ Field 

2002 2001 2002 2001 2002 2001

Executive Offices●45 89 44 89 1 0

Division of Supervision 0 2,532 0 198 0 2,334

Division of Compliance and Consumer Affairs 0 570 0 64 0 506

Division of Supervision and Consumer Protection 2,811 0 176 0 2,635 0

Division of Resolutions and Receiverships 522 454 111 124 411 330

Legal Division 524 622 317 375 207 247

Division of Finance 229 384 229 284 0 100

Division of Information Resources Management 412 475 349 396 63 79

Division of Research and Statistics 0 101 0 101 0 0

Division of Insurance 0 75 0 43 0 32

Division of Insurance and Research 187 0 157 0 30 0

Division of Administration 475 584 321 397 154 187

Office of Inspector General 158 204 114 142 44 62

Office of Diversity and Economic Opportunity 34 36 34 31 0 5

Office of the Ombudsman 16 23 13 13 3 10

Office of Internal Control Management 17 18 17 18 0 0

Total 5,430 6,167 1,882 2,275 3,548 3,892

Includes the Offices of the Chairman, Vice Chairman, Director (Appointive), Chief Operating Officer, Chief Financial Officer, Chief Information Officer, Legislative Affairs, and 

Public Affairs.

On June 30, 2002, the Division of Supervision and the Division of Compliance and Consumer Affairs were merged into the new Division of Supervision and Consumer Protection.

On June 30, 2002, the Dallas field operations of the Division of Finance and the Division of Information Resources Management were merged into the Division of Resolutions 

and Receiverships.

On June 30, 2002, the Office of the Executive Secretary, formerly included in the Executive Offices’ count, was merged into the Legal Division.

On June 30, 2002, the Division of Insurance and the Division of Research and Statistics were merged into the new Division of Insurance and Research.

●

▼

▲

■

◆

▼

▲

■

◆
127

Home Page on the Internet

www.fdic.gov

A wide range of banking, consumer

and financial information is available

on the FDIC’s Internet home page.

This includes the FDIC’s Electronic

Deposit Insurance Estimator, “EDIE,”

which estimates an individual’s

deposit insurance coverage; the

Institution Directory, financial 

profiles of FDIC-insured institutions;

Community Reinvestment Act 

evaluations and ratings for institutions and thrifts supervised by the

FDIC; Call Reports, banks’ reports of 

condition and income; and “Money

Smart,” a training program to help

adults outside the financial mainstream enhance their money skills

and create positive banking relationships. Readers also can access 

a variety of consumer pamphlets,

FDIC press releases, speeches 

and other updates on the agency’s

activities, as well as corporate databases and customized reports of FDIC

and banking industry information.

FDIC Call Center

Phone: 877-275-3342 (ASK FDIC)

202-736-0000 

TDD: 800-925-4618

The FDIC Call Center in Washington, DC,

is the primary telephone point of contact for general questions from the

banking community, the public and

FDIC employees. The Call Center

directly, or in concert with other FDIC

subject matter experts, responds 

to questions about deposit insurance

and other consumer issues and 

concerns, as well as questions about

FDIC programs and activities. The Call

Center also makes referrals to other

federal and state agencies as needed.

Hours of operation are 8:00 a.m. to

8:00 p.m. Eastern Time. Information 

is also available in Spanish. Recorded

information about deposit insurance

and other topics is available 24 hours

a day at the same telephone number.

Public Information Center

801 17th Street, NW

Washington, DC 20434

Phone: 877-275-3342 (ASK FDIC)

202-416-6940 

Fax: 202-416-2076

E-mail: publicinfo@fdic.gov

FDIC publications, press releases,

speeches and Congressional 

testimony, directives to financial

institutions, policy manuals and other

documents are available on request

or by subscription through the 

Public Information Center. These

documents include the Quarterly

Banking Profile, Statistics on Banking,

Summary of Deposits and a variety

of consumer pamphlets.

Office of the Ombudsman

550 17th Street, NW

Washington, DC 20429

Phone: 877-275-3342 (ASK FDIC)

Fax: 202-942-3040, or 

202-942-3041

E-mail: ombudsman@fdic.gov

The Office of the Ombudsman

responds to inquiries about the 

FDIC in a fair, impartial and timely

manner. It researches questions 

and complaints from bankers and the

public. The office also recommends

ways to improve FDIC operations,

regulations and customer service.

Sources of Information
128

Regional and Area Offices

San Francisco Regional Office

25 Ecker Street

Suite 2300

San Francisco, California 94105

(415) 546-0160

Alaska Montana

Arizona Nevada

California Oregon

Guam Utah

Hawaii Washington

Idaho Wyoming

Kansas City Regional Office

2345 Grand Boulevard

Suite 1200

Kansas City, Missouri 64108

(816) 234-8000

Iowa North Dakota

Kansas South Dakota

Minnesota 

Missouri

Nebraska

Dallas Regional Office

1910 Pacific Avenue

Suite 1900

Dallas, Texas 75201

(214 ) 754-0098

Colorado

New Mexico

Oklahoma

Texas

Memphis Area Office

5100 Poplar Avenue

Suite 1900

Memphis, Tennessee 38137

(901) 685-1603

Arkansas 

Louisiana 

Mississippi

Tennessee

Chicago Regional Office

500 West Monroe Street

Suite 3500

Chicago, Illinois 60661

(312) 382-7500

Illinois Wisconsin

Indiana 

Kentucky

Michigan 

Ohio

Atlanta Regional Office

10 Tenth Street, NE

Suite 800

Atlanta, Georgia 30309

(678) 916-2200

Alabama Virginia

Florida West Virginia

Georgia

North Carolina

South Carolina

New York Regional Office

20 Exchange Place

New York, New York 10005

(917) 320-2500

Delaware Puerto Rico

District of Columbia Virgin Islands

Maryland 

New Jersey

New York

Pennsylvania

Boston Area Office

15 Braintree Hill Office Park

Braintree, Massachusetts 02184

(781) 794-5500

Director: Daniel E. Frye

Connecticut

Maine

Massachusetts 

New Hampshire

Rhode Island

Vermont
129

Appendix C – Office of Inspector General’s Management and Performance Challenges Facing 

the FDIC

The following chart shows the FDIC’s most significant management and performance challenges as identified by the 

Office of Inspector General (OIG):

Challenge Brief Description

1 Adequacy of Corporate Governance A number of well-publicized announcements of business failures, including 

in Insured Depository Institutions financial institution failures, have raised questions about the credibility 

of accounting practices and oversight in the United States. These recent 

events have increased public concern regarding the adequacy of corporate 

governance and, in part, prompted passage of the Sarbanes-Oxley Act of 

of 2002. The public’s confidence in the nation’s financial system can be 

shaken by deficiencies in the adequacy of corporate governance in insured 

depository institutions. 

2 Protection of Consumer Interests The FDIC is legislatively mandated to enforce various statutes and regulations

regarding consumer protection and civil rights with respect to state-chartered,

nonmember banks and to encourage community investment initiatives 

by these institutions. 

3 Security of Critical Infrastructure To effectively protect critical infrastructure, the FDIC’s challenge in this 

area is to implement measures to mitigate risks, plan for and manage 

emergencies through effective contingency and continuity planning, 

coordinate protective measures with other agencies, determine resource 

and organization requirements, and engage in education and awareness 

activities. 

4 Management and Analysis of Risks A primary goal of the FDIC under its insurance program is to ensure that its 

to the Insurance Funds deposit insurance funds do not require resuscitation by the U.S. Treasury.

Achieving this goal is a considerable challenge, given that the FDIC supervises

only a portion of the insured depository institutions. 

5 Effectiveness of Resolution One of the FDIC’s most important corporate responsibilities is planning 

and Receivership Activities and efficiently handling the franchise marketing of failing FDIC-insured 

institutions and providing prompt, responsive and efficient resolution 

of failed financial institutions. These activities maintain confidence and 

stability in our financial system.

6 Management and Security As corporate employees carry out the FDIC’s principal business lines of 

of Information Technology (IT) insuring deposits, examining and supervising financial institutions, and

Resources managing receiverships, they rely on information and corresponding 

technology as an essential resource. Information and analysis on banking, 

financial services and the economy form the basis for the development 

of public policies and promote public understanding and confidence in the 

nation’s financial system. IT is a critical resource that must be safeguarded.
130

Appendix C – Office of Inspector General’s Management and Performance Challenges Facing 

the FDIC (continued)

Challenge Brief Description

7 Assessment of Corporate The Corporation has made significant progress in implementing the Results 

Performance Act and needs to continue to address the challenges of developing more 

outcome-oriented performance measures, linking performance goals and 

budgetary resources, implementing processes to verify and validate reported 

performance data, and addressing crosscutting issues and programs that 

affect other federal financial institution regulatory agencies. 

8 Transition to a New Financial Although the New Financial Environment (NFE) offers the FDIC significant 

Environment benefits, it also presents significant challenges. These challenges will test

the Corporation’s ability to (1) maintain unqualified opinions on the FDIC’s 

annual financial statements through the system implementation and associated business process reengineering; (2) manage contractor resources, 

schedules and costs; and (3) coordinate with planned and ongoing system 

development projects related to NFE. 

9 Organizational Leadership and The Corporation must also work to fill key vacancies in a timely manner, 

Management of Human Capital engage in careful succession planning, and continue to conserve and replenish

the institutional knowledge and expertise that has guided the organization 

over the past years. A significant element relates to organizational leadership

at the FDIC Board of Directors level. In order to ensure that the balance 

between various interests implicit in the Board’s structure is preserved, the 

Board should operate at full strength, with all five presidentially appointed 

positions filled. 

10 Cost Containment and The Corporation must continue to identify and implement measures to contain

Procurement Integrity and reduce costs, either through more careful spending or assessing 

and making changes in business processes to increase efficiency. Also, 

the Corporation has taken a number of steps to strengthen internal controls 

and oversight of contractors. However, our work in this area continues to 

show that further improvements are necessary to ensure effective acquisition

planning, fair and reasonable prices, and delivery of best value goods and 

services.