ANNUAL REPORT

OF THE

Federal D eposit In su r a n c e Co r p o r a t io n

FOR THE YEAR ENDED

DECEMBER 31, 1958

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Federal Reserve Bank of St. Louis
L E T T E R O F T R A N SM IT T A L

F e d e r a l D e p o s it In s u r a n c e C o r p o r a tio n

Washington, D. C., June 4, 1959

SIRS: Pursuant to the provisions of Section 17(a) of the Federal 

Deposit Insurance Act, the Federal Deposit Insurance Corporation 

is pleased to submit its annual report.

Respectfully,

J e sse P. W o l c o t t , Chairman

T h e P r e s id e n t o f t h e S e n a t e

T h e S p e a k e r o f t h e H o u se o f R e p r e s e n t a t iv e s

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

N a t i o n a l P r e s s B u ild in g — W a s h in g to n 25, D. C.

BOARD OF DIRECTORS

Chairman..................................................................................J esse P . W o l c o t t

Comptroller of the Currency................................................... R a y M. G id n e y

Director..................................................................................... E r l e C o c k e

OFFICIALS—June 4, 1959

Assistant to Chairman (Acting) ............................................Neil G. Greensides

Assistant to Director............................................................... William Matthews

Secretary....................................................................................Miss E. F. Downey

General Counsel, Legal Division........................................... Royal L. Coburn

Chief f Division of Examination............................................Neil G. Greensides

Deputy Chief , Division of Examination..............................Edward H. DeHority

Chief, Division of Liquidation.............................................. A. E. Anderson

Chief, Division of Research and Statistics...........................Edison H. Cramer

Chief, Audit Division............................................................. Mark A. Heck

Controller.................................................................................. William G. Loefller

Director of Publications and Information........................... Forbes Campbell

Y

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Federal Reserve Bank of St. Louis
D IS T R IC T O F F IC E S

D is t . S u p e rv isin g

No. E x a m in e r

1. Lundie W. Barlow

2. Philip C. Lods

3. Gilbert E. Mounts

4. Robert N. McLeod

5. John E. Freeman

6. Charles M. Dunn

7. William T. Hammill

8. Darrell E. Wilkins

9. Charles F. Alden

10. George M. Hirning

11. Lloyd Thomas

12. Walter W. Smith

A d d r e ss

Room 1365, No. 10 P.O.

Square, Boston 9, Mass.

74 Trinity Place,

New York 6, N. Y.

Suite 500,

50 West Gay Street,

Columbus 15, Ohio

200 The Bank of Virginia

Building, Fourth and

Grace Streets,

Richmond 19, Va.

Fifth floor, 114 Marietta

St., N. W., Atlanta 3, Ga.

1059 Arcade Building,

St. Louis 1, Mo.

715 Tenney Building,

Madison 3, Wis.

164 W. Jackson Blvd.,

Chicago 4, 111.

950 Federal Reserve Bank

Building,

Minneapolis 2, Minn.

1201 Federal Reserve Bank

Building, Kansas City 6,

Mo.

Federal Reserve Bank

Building, Station K,

Dallas 13, Texas

Suite 1120, 315 Montgomery Street, San

Francisco 4, Calif.

S t a t e s i n D is t r ic t

Maine, New Hampshire,

Vermont, Massachusetts,

Rhode Island, Connecticut

New York, New Jersey,

Delaware, Puerto Rico,

Virgin Islands

Ohio, Pennsylvania

District of Columbia, Maryland, Virginia, West Virginia, North Carolina,

South Carolina

Georgia, Florida, Alabama,

Mississippi

Kentucky, Tennessee,

Missouri, Arkansas

Indiana, Michigan,

Wisconsin

Illinois, Iowa

Minnesota, North Dakota,

South Dakota, Montana

Nebraska, Kansas,

Oklahoma, Colorado,

Wyoming

Louisiana, Texas,

New Mexico, Arizona

Idaho, Utah, Nevada,

Washington, Oregon, California, Alaska, Hawaii,

Guam

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Federal Reserve Bank of St. Louis
TIA

FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICTS

tOSTO*

DISTRICT 2 Includes PUERTO RICO & VIRGIN ISLANDS 

DISTRICT 4 Includes DISTRICT OF COLUMBIA 

DISTRICT 12 Includes HAWAII, ALASKA & GUAM

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Federal Reserve Bank of St. Louis
Summary

CONTENTS

Page

xv

PART ONE

OPERATIONS OF THE CORPORATION

Deposit insurance coverage........................................................................................... 3

Insurance operations to protect depositors of failing banks................................... 4

Supervisory activities...................................................................................................... 8

Legal developments......................................................................................................... 12

Administration of the Corporation.............................................................................. 13

Finances of the Corporation.......................................................................................... 16

PART TWO

OPERATIONS OF THE FEDERAL DEPOSIT INSURANCE

CORPORATION TO PROTECT DEPOSITORS IN FAILING

BANKS, 1934-1958

General summary............................................................................................................. 27

Deposit payoff cases........................................................................................................ 37

Deposit assumption cases............................................................................................... 86

PART THREE

LEGISLATION AND REGULATIONS

Federal legislation............................................................................................................ 131

Rules and regulations of the Corporation.................................................................. 131

State banking legislation................................................................................................ 132

PART FOUR

BANKING DEVELOPMENTS

Banking developments..........................................................................................................139

Number of banks and branches..........................................................................................139

Bank assets....................................................................................................................... ...... 143

Bank liabilities and capital accounts.................................................................................147

Income of insured banks................................................................................................ ......151

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Number, offices, and deposits of operating banks.................................................... ......160

Assets and liabilities of operating banks...........................................................................180

Earnings, expenses, and dividends of insured banks......................................................194

Deposit insurance disbursements........................................................................................222

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Organization chart of the Federal Deposit Insurance Corporation...................... iv

Federal Deposit Insurance Corporation districts (map)......................................... vii

A. Percentage of banks of deposit in each State which were insured, December

31,1958.................................................................................................................. 3

B. Sources and disposition of income of the Federal Deposit Insurance

Corporation, 1933-1958...................................................................................... 16

C. Number and deposits of insured banks requiring disbursements by the

Federal Deposit Insurance Corporation for the protection of depositors,

by State, 1934-1958............................................................................................. 30

D. Number and deposits of insured banks requiring disbursements by the

Federal Deposit Insurance Corporation for the protection of depositors,

by size of bank, 1934-1958................................................................................. 31

E. Deposits of insured banks requiring disbursements for the protection of

depositors, and principal disbursements and recoveries of the Federal

Deposit Insurance Corporation in such cases, by type of case, 1934-1958. 36

F. Changes in number of banks and branches in the United States (continental

U. S. and other areas), 1934-1958.................................................................... 140

G. Amount and percentage distribution of assets, all banks in the United

States (continental U. S. and other areas), selected dates, 1934-1958. . 143

H. Bank capital and capital ratios, insured commercial banks in the United

States (continental U. S. and other areas), 1934-1958............................... 149

I. Income, expenses, and net profits, insured commercial banks in the United

States (continental U. S. and other areas), 1934-1958............................... 156

LIST OF TABLES

PART ONE

OPERATIONS OF THE CORPORATION

I n s u r a n c e o p e r a t io n s to p r o te c t d e p o sit o r s o f f a il in g b a n k s :

1. Protection of depositors of insured banks requiring disbursements by the

Federal Deposit Insurance Corporation, 1934-1958................................. 5

2. Analysis of disbursements, recoveries, and losses by the Federal Deposit

Insurance Corporation in insurance transactions, 1934-1958................... 7

S u p e r v is o r y a c t iv it ie s :

3. Applications from banks acted upon by the Board of Directors of the

Federal Deposit Insurance Corporation during 1958.................................. 9

4. Bank examination activities of the Federal Deposit Insurance Corporation

in 1957 and 1958.................................................................................................. 10

5. Actions to terminate insured status of banks charged with unsafe or

unsound banking practices or violations of law or regulations, 1936-1958. 11

A d m in is t r a t io n o f t h e C o r p o r a t io n :

6. Number of officers and employees of the Federal Deposit Insurance

Corporation, December 31, 1958..................................................................... 14

7. Number of officers and employees of the Federal Deposit Insurance

Corporation, December 31, 1958, distributed according to length of

service..................................................................................................................... 15

LIST OF CHARTS

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Finances of the Corporation:

8. Income and expenses of the Federal Deposit Insurance Corporation,

by years, from beginning of operations, September 11, 1933 to December

31, 1958, adjusted to December 31, 1958....................................................... 17

9. Assets and liabilities of the Federal Deposit Insurance Corporation,

December 31, 1958.............................................................................................. 18

10. Insured deposits and the deposit insurance fund, 1934-1958....................... 19

11. Income and expenses of the Federal Deposit Insurance Corporation, and

changes in the deposit insurance fund, for the year ended December

31, 1958.................................................................................................................. 20

12. Administrative and operating expenses of the Federal Deposit Insurance

Corporation for the year ended December 31, 1958.................................... 20

13. Determination and distribution of net assessment income of the Federal

Deposit Insurance Corporation for the year ended December 31, 1958.. 21

14. Audit report of the Federal Deposit Insurance Corporation for the fiscal

year ended June 30, 1958............................................................................... 21

PART TWO

OPERATIONS OF THE FEDERAL DEPOSIT INSURANCE CORPORATION

TO PROTECT DEPOSITORS IN FAILING BANKS, 1934-1958

General summary:

15. Number of insured banks requiring disbursements by the Federal Deposit

Insurance Corporation for the protection of depositors, 1934-1958___ 27

16. Total deposits and deposits made available to depositors, insured banks

requiring disbursements by the Federal Deposit Insurance Corporation

for protection of depositors, 1934-1958.......................................................... 28

17. Total number of depositors and number to whom full recovery was available, insured banks requiring disbursements by the Federal Deposit

Insurance Corporation for protection of depositors, 1934-1958............... 32

18. Principal disbursements and recoveries by the Federal Deposit Insurance

Coiporation in deposit payoff cases and deposit assumption cases,

1934-1958............................................................................................................... 34

19. Ratios of net loss of funds by the Federal Deposit Insurance Corporation

to total and insured deposits, insured banks requiring disbursements

for protection of depositors, 1934-1958........................................................ 35

Deposit payoff cases:

20. Distribution of deposit payoff cases by percentage recovery of the Corporation’s principal disbursements...................................................................... 44

21. Distribution of deposit payoff cases by ratio of receivership expenses

to collections......................................................................................................... 46

22. Case numbers, locations, bank titles, and related information, deposit

payoff cases, 1934-1958...................................................................................... 48

23. Assets, liabilities, and payment of claims by receivers, deposit payoff cases,

1934-1958............................................................................................................... 54

24. Number of depositors, deposit payoff cases, 1934-1958

Data as of termination of receivership........................................................... 60

25. Deposit protection and recovery, deposit payoff cases, 1934-1958

Data as of termination of receivership........................................................... 66

26. Recovery by the Federal Deposit Insurance Corporation, Reconstruction

Finance Corporation, and owners of other capital, deposit payoff

cases, 1934-1958

Data as of termination of receivership........................................................... 72

LIST OF TABLES xi

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xii FEDERAL DEPOSIT INSURANCE CORPORATION

Page

27. Receivers’ collections and disbursements, deposit payoff cases, 1934-1958

Data as of December SI, 1958.............................................................................. 78

28. Receivers’ collections on various types of assets of 244 terminated deposit

payoff cases

Data as of termination of receivership................................................................ 84

D eposit assumption cases:

29. Distribution of deposit assumption cases by percentage recovery of the

Corporation’s net principal disbursements......................................................... 95

30. Distribution of deposit assumption cases by ratio of liquidation expenses

to collections plus assets transferred

Banks grouped by amount of deposits................................................................ 97

31. Case numbers, locations, bank titles, and related information, deposit

assumption cases, 1935-1958................ ................................................................... 98

32. Assets, deposits, and number of deposit accounts, deposit assumption

cases, 1935-1958........................................................................................................... 104

33. Liabilities of banks with deposits assumed, assets transferred to assuming

banks, and disbursements of the Federal Deposit Insurance Corporation

to banks with deposits assumed, 1935-1958

Data as of December SI, 1958.............................................................................. 110

34. Recover}^ by the Federal Deposit Insurance Corporation, Reconstruction

Finance Corporation, and owners of other capital, deposit assumption

cases, 1935-1958

Data as of termination of liquidation................................................................. 116

35. Types and disposition of collections on assets, deposit assumption cases,

1935-1958

Data as of December 31, 1958.............................................................................. 122

PART FOUR

BANKING DEVELOPMENTS

N umber of banks and branches:

36. Number and percentage change in banking offices in the United States

(continental U. S. and other areas), by type of bank, selected dates,

1934-1958....................................................................................................................... 140

37. Analysis of changes in the number of banking offices in the United States

(continental U. S. and other areas), selected periods, 1934-1958.............. 141

38. Number and deposits of all banks in the United States (continental U. S.

and other areas), December 31, 1958................................................................... 142

Bank assets:

39. Assets of all banks in the United States (continental U. S. and other areas),

selected dates, 1934-1958.......................................................................................... 144

40. Assets of all banks in the United States (continental U. S. and other areas),

December 31, 1958, and percentage changes during 1958

Banks grouped according to insurance status and type of bank................ 146

Bank liabilities and capital accounts:

41. Liabilities and capital accounts of all banks in the United States (continental U. S. and other areas), selected dates, 1934-1958......................... 148

42. Deposits of all banks in the United States (continental U. S. and other

areas), December 31, 1958, and percentage changes during 1958

Banks grouped according to insurance status and type of bank................ 150

43. Capital accounts and ratios to total assets of all banks in the United

States (continental U. S. and other areas), December 31, 1958 and

percentage changes during 1958

Banks grouped according to insurance status and type of bank.................. 151

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I n c o m e of in s u r e d b a n k s :

44. Sources and disposition of total income, insured commercial banks in the

United States (continental U. S. and other areas), selected years,

1934-1958............................................................................................................... 152

45. Sources and disposition of total income, insured mutual savings banks in the

United States (continental U. S. and other areas), selected years,

1934-1958............................................................................................................... 153

46. Selected operating ratios of insured banks in the United States (continental

U. S. and other areas), selected years, 1934-1958........................................ 154

FART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

N u m b e r , o f f ic e s , a n d d e p o s it s o f o p e r a t in g b a n k s :

Explanatory note............................................................................................................. 160

101. Changes in number and classification of operating banks and branches in

the United States (continental U. S. and other areas) during 1958.... 162

102. Number of operating banking offices in the United States (continental

U. S. and other areas), December 31, 1958

Grouped according to insurance status and class of bank, and by State

and type of office......... ............................................................................... 164

103. Number of commercial banks operating branches and number of branches

in the United States (continental U. S. and other areas), June 30, 1958

Banks operating branches grouped according to character of branch

system and branches grouped according to location of branch and by

population of center in which located and State................................ .. 172

104. Number of operating banking offices of commercial banks in the United

States (continental U. S. and other areas), June 30, 1958

Grouped according to number of commercial hanking offices in center

in which located and by type of office and popidation of center in

which located................................................................................................ 174

105. Number of operating banking offices of commercial banks in metropolitan areas of the United States (continental U. S. and other areas),

June 30, 1958

Grouped according to type of office............................................................... 176

106. Number and deposits of operating banks in the United States (continental

U. S. and other areas), December 31, 1958

Banks grouped according to insurance status and by district and State.. 178

A s s e t s a n d l i a b i l i t i e s o f o p e r a t in g b a n k s :

Explanatory note............................................................................................................. 180

107. Assets and liabilities of operating banks in the United States (continental

U. S. and other areas), June 23, 1958

Banks grouped according to insurance status and type of bank........... 182

108. Assets and liabilities of operating banks in the United States (continental

U. S. and other areas), December 31, 1958

Banks grouped according to insurance status and type of bank............... 184

109. Assets and liabilities of operating banks in the United States (continental

U. S. and other areas), December 31, 1958

Banks grouped by district and State............................................................ 186

110. Assets and liabilities of operating insured banks in the United States

(continental U. S. and other areas), December 31, 1958, June 23,

1958, and December 31, 1957......................................................................... 188

111. Distribution of insured commercial banks operating in the United States

(continental U. S. and other areas), December 31, 1958

Banks grouped according to amount of deposits and by ratios of selected

items to assets.............................................................................................. 192

LIST OF TABLES xiii

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xiv FEDERAL DEPOSIT INSURANCE CORPORATION

Page

E a r n in g s, e x p e n s e s , a n d d iv id e n d s o f in s u r e d b a n k s :

Explanatory note............................................................................................................. 194

112. Earnings, expenses, and dividends of insured commercial banks in the

United States (continental U. S. and other areas), 1950-1958............... 196

113. Ratios of earnings, expenses, and dividends of insured commercial banks

in the United States (continental U. S. and other areas), 1950-1958... 198

114. Earnings, expenses, and dividends of insured commercial banks in the

United States (continental U. S. and other areas), 1958

By class of bank............................................................................................. 200

115. Ratios of earnings, expenses, and dividends of insured commercial banks

in the United States (continental U. S. and other areas), 1958

By class of bank............................................................................................. 202

116. Earnings, expenses, and dividends of insured commercial banks operating

throughout 1958 in the United States (continental U. S. and other

areas)

Banks grouped according to amount of deposits........................................ 204

117. Ratios of earnings, expenses, and dividends of insured commercial banks

operating throughout 1958 in the United States (continental U. S.

and other areas)

Banks grouped according to amount of deposits....................................... 206

118. Earnings, expenses, and dividends of insured commercial banks in the

United States (continental U. S. and other areas), by State, 1958.... 208

119. Income, expenses, and dividends of insured mutual savings banks,

1951-1958............................................................................................................ 218

120. Ratios of income, expenses, and dividends of insured mutual savings

banks, 1951-1958............................................................................................... 220

D e p o s it in s u r a n c e d is b u r s e m e n t s :

Explanatory note............................................................................................................. 222

121. Depositors, deposits, and disbursements in insured banks requiring

disbursements by the Federal Deposit Insurance Corporation, 1934-1958

Banks grouped by class of bank, year of deposit payoff or deposit

assumption, amount of deposits f and State............................................ 224

122. Assets and liabilities of insured banks requiring disbursements by the

Federal Deposit Insurance Corporation, 1934-1958............................... 226

123. Insured banks requiring disbursements by the Federal Deposit Insurance

Corporation during 1958.................................................................................. 227

124. Recoveries and losses by the Federal Deposit Insurance Corporation on

principal disbursements for protection of depositors, 1934-1958........... 228

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S u m m a r y

More than 95 percent of all banks in the United States, holding 96.5 

percent of all deposits, were participating in Federal deposit insurance 

at the end of 1958. Deposits in the 13,365 insured banks totaled $242 

billion. About $138 billion, or an estimated 57 percent of these deposits, 

were insured under the limit of $10,000 for each depositor. (Pp. 3-4, 19.)

Four insured banks required disbursements by the Federal Deposit 

Insurance Corporation for the protection of their depositors during 1958. 

In three cases the banks were placed in receivership and insured deposits 

paid by the Corporation. In the fourth case deposit liabilities were 

assumed by another insured bank. (Pp. 6-8.)

The deposit insurance fund amounted to $1,965 million at the yearend, or 0.81 percent of total deposits in insured banks. (Pp. 17-20.)

A detailed study of the insurance operations of the Corporation 

provides information on recoveries and losses by depositors, by the 

Federal Deposit Insurance Corporation, and by stockholders, in the 

case of each failing insured bank during the first 20 years of deposit 

insurance. Combined results for cases occurring the last five years are 

also shown. (Pp. 27-127.)

The Federal Reserve Act was amended to require membership in 

the Federal Reserve System, and consequently insurance of deposits, 

for national banks in States newly admitted to the Union. The rules 

and regulations of the Corporation were amended with reference to 

cash items eligible for deduction for assessment purposes. About half 

of the State legislatures enacted banking legislation during the year. 

(Pp. 12-13, 132.)

Total bank assets on December 31, 1958, amounted to $278 billion, 

representing an increase of 7 percent during the year. Holdings of securities advanced 13 percent during the year, while loans were up 6 percent. 

There was no significant change in the ratio of total capital accounts 

to total assets, which was 7.9 percent at the end of the year. (Pp. 143, 

146-147, 149.)

Total income of insured commercial banks rose 14 percent in 1958. 

Net current operating earnings declined slightly. However, a substantially 

greater income from profits on sales of securities brought net profits after 

income taxes above the 1957 level. More than half of net profits were 

retained in capital accounts. (Pp. 156-157.)

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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS OF THE CORPORATION

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Federal Reserve Bank of St. Louis
D e p o s it I n s u r a n c e C o v e r a g e

The Federal Deposit Insurance Corporation was created by the 

Banking Act of 1933 to pay depositors of failed banks the amount of 

their insured deposits. Insurance was initially limited to $2,500 for each 

depositor. The limit was raised to $5,000 on July 1, 1934, and continued 

at that amount until September 21, 1950, when it was increased to the 

present limit of $10,000 per depositor.

Deposit insurance operates not only to protect insured depositors 

against loss, but also to make their deposits promptly available in the 

event of bank failure. It promotes increased confidence in the banking 

system and acts as a stabilizing influence upon the nation's economy.

Most of the nation's banks have participated in Federal deposit 

insurance since it became available on January 1, 1934. From the beginning, at least nine-tenths of the banks have been so insured. At the 

end of 1958 over 95 percent of the nation's banks of deposit were insured, 

and about 96 percent of all bank deposits were in insured banks.

In 12 States and the District of Columbia all banks of deposit were 

insured on December 31, 1958. In each of 15 additional States no more 

than three banks were noninsured. The percentages of banks of deposit 

in each State insured by the Corporation are shown in Chart A.

C h a r t A . P e r c e n t a g e o f B a n k s o f D e p o s it in E a c h St a t e W h ic h W e r e I n s u r e d ,

D e c e m b e r 31, 1958

3

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Federal Reserve Bank of St. Louis
4 FEDERAL DEPOSIT INSURANCE CORPORATION

Deposits in the 13,365 insured banks totaled $242 billion on December 

31, 1958. An estimated 57 percent of these deposits, or about $138 billion, 

were insured. The proportion of accounts fully insured, those having 

balances not exceeding $10,000, was approximately 98 percent.

I n s u r a n c e O p e r a t io n s t o P r o t e c t D e p o s it o r s o f F a il in g B a n k s

Insurance operations, 1934-1958. Full protection of a depositor in 

a failing bank is accomplished when his entire deposit is made available 

within a brief time after the bank ceases business. Prior to 1934, many 

depositors of failing banks suffered heavy losses and, unless their deposits 

were secured or had preferred status, any recovery, whether partial or 

full, was realized only after a prolonged period necessary for liquidating 

the assets. The introduction of deposit insurance on a nationwide basis 

dramatically changed this record, and for the last quarter-century the 

Federal Deposit Insurance Corporation has extended to depositors of 

failed insured banks a degree of protection previously unknown in 

American banking.

During the 25 years since establishment of the Federal Deposit Insurance Corporation, 436 insured banks have become involved in financial 

difficulties sufficiently serious to require financial assistance from the 

Corporation for the protection of their depositors. In 254 of these cases 

the insured banks were placed in receivership and the depositors paid, 

up to the prevailing insurance maximum, directly by the Corporation. 

In the other 182 cases the Corporation made loans to, or purchased assets 

from, the distressed banks in order to facilitate the assumption of their 

deposit liabilities by other insured banks. In such cases all deposit 

liabilities of the failing banks were assumed, with little or no interruption 

of banking services and no loss to depositors.

The 436 insured banks involved in serious financial difficulties during 

this period had 1,437,700 depositors; 1,034,733 of these had their accounts 

in banks whose deposits were assumed by other insured banks, and 

402,967 were depositors in banks placed in receivership. Of the depositors 

in the banks placed in receivership, 396,020 received, or had made 

available to them, the full amount of their deposits within a short time 

after the suspensions of the banks. Since depositors in banks with deposits 

assumed by other banks also received the full amount of their balances 

with little or no interruption of banking services, the results were such 

that 99.5 percent of the total number of depositors in all failed insured 

banks were fully protected immediately upon, or soon after, the closing 

of the banks. Table 1 shows the number and method of protection of 

depositors or accounts in insured banks requiring disbursements by the 

Corporation.

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Federal Reserve Bank of St. Louis
INSURANCE OPERATIONS TO PROTECT DEPOSITORS 5

Of the 6,947 depositors not receiving immediate, full protection, 

2,763 eventually received full payment from receivers' dividends on 

the uninsured portions of their deposit claims. By the end of 1958, only 

4,184 depositors, or three-tenths of one percent of the total number, had 

not received full payment of their deposits, and some of these eventually 

will recover all of their deposits.

The proportion of deposits made available to depositors immediately 

upon, or very soon after, the closing of the banks has also been high. 

Table 1 shows that of $593 million deposits in the 436 failing banks, 

approximately four-fifths was made available to depositors as a consequence of the assumption of the failing banks* deposits by other insured

T a b l e 1 . P r o t e c t io n o f D e p o s it o r s o f I n s u r e d B a n k s R e q u ir in g

D is b u r s e m e n t s b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n , 1934-1958

Item

N um ber of depositors or accounts— total1..........................

Full recovery received or available ..................................................

From F D IC 2......................................

B y offset*.............................................

Through security or preference5.

From receiver6...................................

Full recovery not received as of

December 31, 1958...................

Terminated cases.............................

Active cases........................................

A m o u n t of deposits (in th o u ­

sands)— to ta l............................

Paid or made available.....................

B y F D IC 2 ..........................................

B y offset8............................................

B y security or preference9............

B y receiver10.......................................

N ot paid as of December 31,

1958.................................................

Terminated cases.............................

Active cases........................................

All cases

(436 banks)

Number or

amount

1,437,700

1,433,516

1,892,486

85,484

2,783

2,768

4,184

2,771

1 ,413

$ 592,641

590,287

56^,779

8,07k

7,348

10,086

2,354

1,777

577

Percent

100.0%

99.7

9G.8

2.5

0.2

0.2

0.3

0.2

0.1

100.0%

99.6

95.8

1.4

1.2

1.7

0.4

0.8

0.1

Deposit payoff

cases

(254 banks)

Number or

amount

402,967

398,783

857,758*

85,484

2,783

2,768

4,184

2,771

1,418

$ 126,114

123,760

98,2521

8,074

7,848

10,086

2,354

1,777

577

Percent

100.0%

99.0

88.8

8.8

0.7

0.7

1.0

0.7

0.3

100.0%

98.1

77.9

6.4

5.8

8.0

1.9

1.4

0.5

Deposit

assumption cases

(182 banks)

Number or

amount

1.034.733

1.034.733

1,084,788

$ 466,527

466.527

466.527

Percent

100.0%

100.0

100.0

100.0%

100.0

100.0

1 Number of depositors in deposit payoff cases, number of accounts in deposit assumption cases.

2 Through direct payment to depositors in deposit payoff cases; through assumption of deposits by

other insured banks, facilitated by FD IC disbursements of $198,075 thousand, in deposit assumption

cases.

8 Includes 55,262 depositors in terminated cases who failed to claim their insured deposits.

4 Includes only depositors with claims offset in full; most of these would have been fully protected

by insurance in the absence ©f offsets.

* Excludes depositors paid in part by FD IC whose deposit balances were less than the insurance

maximum.

® The insured portions of these depositor claims were paid by the Corporation.

7 Includes $175 thousand insured deposits in terminated cases available but unclaimed from Corporation (see note 3).

8 Includes all amounts paid by offset.

8 Includes all secured and preferred claims paid by receiver; excludes secured and preferred claims

paid by Corporation.

10 Includes unclaimed deposits paid into trusts by receiver.

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6 FEDERAL DEPOSIT INSURANCE CORPORATION

banks. The remaining one-fifth of deposits, totaling $126 million, was 

in banks placed in receivership. The largest part of this amount was 

made available to depositors, usually beginning ten days to two weeks 

after the closing of the bank, by means of direct payment from the 

Corporation; smaller portions were paid by the receiver through the 

offset of debts to the bank against deposits, by the liquidation of assets 

pledged to secure deposits, and as claims having a preferred legal 

status. About 98 percent of the total deposits in failing insured 

banks was therefore available to depositors immediately, or within a 

short time after, the closing of their banks. Another $10 million of uninsured balances was eventually paid by receivers, leaving only four-tenths 

of one percent of deposits not paid by the end of 1958.

To protect depositors in failed banks and to meet other expenses 

attributable to handling these failures the Corporation has disbursed 

$346 million since 1934. The largest part of this total, or $296 million, 

consisted of principal disbursements to protect depositors. Approximately two-thirds of principal disbursements represented loans to, or 

assets purchased from, distressed banks to facilitate the assumption of 

their deposit liabilities by other insured banks, while one-third represented 

direct payments to depositors in the cases of closed banks. Advances to 

protect assets acquired, liquidation expenses, and expenses incurred in 

paying depositors amounted to $48 million, while other disbursements 

related to insured banks in financial difficulties were less than $2 million.

The Corporation has recovered, or anticipates that it will recover, $317 

million of its total disbursements, leaving a loss of $29 million. In the 

absence of deposit insurance, this additional loss would have fallen on 

depositors, and it is quite probable that in such a circumstance losses 

would have been even greater since deposit insurance has made possible 

a more orderly liquidation of bank assets and the consequent minimization of losses. Table 2 shows Corporation disbursements, recoveries, and 

losses in more detail, and Part Two of this report presents a detailed 

study of the insurance operations of the Corporation from its beginning 

to the end of 1958.

Insurance operations during 1958. Four insured banks became 

involved in serious financial difficulties during 1958. In three cases the 

banks were placed in receivership and the insured deposits were paid 

directly by claim agents of the Corporation. In the fourth case the Corporation purchased assets from the bank at an amount sufficient to make 

possible the assumption of all deposit liabilities by another insured bank.

The three suspended banks were The First National Bank of Halfway, 

Halfway, Oregon; Peoples State Bank, Richland Springs, Texas; and 

The Manufacturers’ Bank of Edgewater, Edgewater, New Jersey. 

Financial irregularities were the cause of difficulty in two of these banks,

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INSURANCE OPERATIONS TO PROTECT DEPOSITORS 7

T a b le 2 . A n a ly s is o f D is b u r s e m e n ts , R e c o v e r ie s , an d L o sse s b y t h e F e d e r a l

D e p o s it In s u r a n c e C o r p o r a tio n in In s u r a n c e T r a n s a c t io n s , 1934-1958

(In thousands)

Type of disbursement Disbursements

Recoveries1 Losses

A ll disbursem ents— to ta l................................................................. $346,191 $317,284 $ 28,9072

Principal disbursem ents in deposit assu m p tion and

payoff cases— to ta l................................................................. $296,215 $267,947 $ 28,267

Loans and assets purchased (182 deposit assumption

To December 31, 1958.................................................................. 198,075 183,758 \

1,153/

80,5801

2 ,4 5 6 /

$ 47,086

13,165 Estimated additional.....................................................................

Deposits paid (254 deposit payoff cases):

To December 31, 1958..................................................................

Estimated additional.....................................................................

98,0771

6 2 / 15,103

Advances and expenses in deposit assum ption and

payoff cases— to ta l................................................................. $ 48,305 $ 1,219

Expenses in liquidating assets in 182 deposit assumption cases:

Advances to protect assets.......................................................... 32,757

14,328

175

1,044

32,757

14,328

(3)

(3)

Liquidation expenses.....................................................................

Insurance expenses.........................................................................

Field payoff and other insurance expenses in 254 deposit payoff cases........................................................................

175

1,044

Other disbursem ents— to ta l.......................................................... $ 1,672 $ 2,251 $ (579)4

Assets purchased to facilitate termination of liquidations:

To December 31, 1958..................................................................

Estimated additional.....................................................................

1,609 2,243 \

8 / (642)4

Insurance expenses in cases with no principal disbursement ................................................................................................. 63 (*) 63

N ote: Due to rounding differences, components may not add precisely to the indicated tables.

1 Recoveries in a few individual cases were in excess of the amount due the Corporation. These

recoveries were returned to stockholders and are not included.

2 Net loss of funds after allowing for interest and allowable return collected of $8,836 thousand

was $20,071 thousand.

3 Not recoverable.

4 Net profit and net income.

while poor management was largely responsible for the closing of the 

other bank. Altogether the three banks had more than 4,300 depositors, 

with deposits in excess of $4 million. In each case the Corporation began 

to pay the insured deposits within two weeks after the closing of the bank 

for liquidation, such payments totaling $2.8 million by the end of 1958. 

Depositors recovered an additional $1 million by reason of secured or 

preferred deposits, through the offset of deposits against debts due the 

bank, or from receivers’ dividends, leaving only about $330,000 deposits 

unpaid at the end of the year. Almost all of this amount represented 

deposit balances in excess of the insurance maximum. Owners of these 

deposits will share with the Corporation in the liquidation of the banks7 

assets. It is expected that the Corporation will recover a substantial 

portion of its disbursements from these liquidations.

The deposits of the Rushville Banking Company, Rushville, Ohio, 

the fourth case handled during 1958, were assumed by another insured 

bank after the Corporation arranged to purchase, for about $230,000, 

those of its assets which were unacceptable to the assuming bank. This

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Federal Reserve Bank of St. Louis
8 FEDERAL DEPOSIT INSURANCE CORPORATION

was the difference between the liabilities assumed and the value of the 

assets acceptable to the assuming bank. The bank’s 5,200 deposit accounts, with deposits totaling $4.1 million, were thus made available to 

depositors without interruption of banking services.

S u p e r v is o r y A c t iv it ie s

To perform efficiently its duties as insurer of bank deposits the Corporation has necessarily been invested with certain supervisory functions. 

Soon after the Corporation was established it was recognized that the 

success of the deposit insurance program depended greatly upon minimizing resort to its resources. This required that the Corporation be given 

supervisory authority designed to encourage and establish among insured 

banks the observance of sound banking practices in order to make them 

less liable to fall into financial difficulties requiring the Corporation’s 

assistance.

Admission to insured status. Banks become insured in different 

ways, depending upon their status or location. Those becoming members 

of the Federal Reserve System, national and State banks alike, are 

insured without having to apply to the Corporation. The few national 

banks located outside the continental United States and not members 

of the Federal Reserve System may become insured upon application 

by the bank and certification by the Comptroller of the Currency. 

Operating noninsured banks which are not members of the Federal Reserve System, along with new banks not becoming members of the 

System, may apply to the Board of Directors of the Corporation for 

admission to insurance.

In admitting banks to insurance the Corporation is required to give 

consideration to the financial history and condition of the bank, the 

adequacy of its capital structure, its future earnings prospects, the 

general character of its management, the convenience and needs of the 

community to be served by the bank, and the consistency of the bank’s 

corporate powers with the purposes of the Federal deposit insurance law. 

Applications for insurance from new State banks not members of the 

Federal Reserve System are reviewed by the Board of Directors in accordance with these factors after the bank has obtained a charter, or a 

commitment for one, from the appropriate State banking authority. 

In the case of banks becoming insured without application to the Corporation, the respective authorities make certification to the Corporation 

that consideration has been given to the factors enumerated above.

Between August 23, 1935, when the permanent plan of deposit insurance went into effect, and the end of 1958, the Board approved over

2,000 applications for admission to insurance, and disapproved over 300.

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SUPERVISORY ACTIVITIES 9

Besides these actions, the Board also approved more than 300 applications 

for continuance of insurance by banks withdrawing from the Federal 

Reserve System.

The number of applications for admission to insurance ranges around 

a hundred each year. In 1958 the Board acted upon 109 such applications, 

approving all but three. As indicated in Table 3, about two-thirds of 

them involved new banks, the rest being banks already in operation but 

not insured. In addition, the Board approved 13 applications for continuance of insurance by banks withdrawing from the Federal Reserve 

System.

T a b le 3 . A p p l ic a t io n s fr o m B a n k s A c te d U po n b y t h e B o a r d o f D ir e c t o r s

o f t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n D u r in g 1958

Type of application

Total

acted

upon

Approved Disapproved

All applications1............................................................................................ 549 535 14

Admission to insurance— total................................................................... 109 106 3

N ew banks....................................................................................................... 77 7U 3

Operating banks............................................................................................ 32 32

Continuation of insurance of banks withdrawing from Federal

Reserve System....................................................................................... 13 13

Change in type of business; to engage in trust business.............. 20 18 2

Assumption of deposit liabilities— total................................................. 20 20

O f another insured ban k............................................................................ 17 17

O f a noninsured bank................................................................................. s 3

Operation of branches— total..................................................................... 183 181 2

New branch offices........................................................................................ 151 1U9 2

New facilities ................................................................................................. 1 1

Conversion o f absorbed bank or financial institution....................... 21 21

Continue operating branches o f absorbed or predecessor bank. . 10 10

Change of location of offices— total......................................................... 165 164 1

M ain offices.................................................................................................... 12 U 123 1

Branches.......................................................................................................... U1 U1

Retirement of capital..................................................................................... 24 24

Service of persons convicted of breach of trust.................................. 7 1 6

Other..................................................................................................................... 8 8

1 Excludes applications supplementary to a primary application; for example, for an extension

of time with respect to an insurance commitment for a new bank. Also excludes a few applications

acted upon in prior years on which additional action was taken during 1958.

Of the 74 new banks admitted to insurance during 1958, 13 were in 

Texas, 11 in Florida, 8 in Illinois, and 7 in Missouri. No other State 

had more than three. Over one-half of the operating banks admitted to 

insurance during 1958 were in Connecticut, Kansas, and Iowa.

Other applications from banks* Additional safeguards for depositors are provided by the requirement that the Board of Directors 

pass upon a variety of proposed actions by insured banks. Approval 

of the Corporation must be obtained before an insured bank may merge,

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10 FEDERAL DEPOSIT INSURANCE CORPORATION

consolidate, or assume the liabilities of any noninsured bank. The Corporation has particular responsibility in a number of matters with respect 

to insured banks not members of the Federal Reserve System; these 

include merger, consolidation, or assumption transactions entailing a 

reduction of capital or surplus, establishment of branches, change of 

corporate powers, relocation of banking offices, and certain other actions. 

Many potential applications are revised or eliminated in preliminary 

negotiations between the bank and representatives of the Corporation, 

which accounts in part for the relatively high proportion of applications 

which are approved.

In the period since 1935 the Board of Directors has acted upon about

23,000 applications other than those for admission to insurance. Of these, 

93 percent were approved. By far the greatest number involved retirement of preferred stock, capital notes, and debentures held by the Reconstruction Finance Corporation, most of which was replaced by capital 

funds supplied by the public. Applications for permission to operate 

branches and to change the location of banking offices comprised most 

of the remainder.

Bank examinations. From its beginning the Corporation recognized 

that it must emphasize the establishment and extension of sound banking 

practices in order to keep its losses within reasonable bounds. This it 

has done, working closely with other bank supervisory agencies and 

individual banks through its examination staff. The Corporation regularly 

examines insured banks not members of the Federal Reserve System and

Table 4. B a n k E x a m in a tio n A c t iv it ie s o f t h e

F e d e r a l D e p o s it In s u r a n c e C o r p o r a tio n in 1957 an d 1958

Activity

Number

1958 1957

Exam inations and investigations— to ta l........................................................... 10,502 10,204

Examinations of main offices........................................................................................... 6,939 6,904

Regular examinations o f insured banks not members o f Federal Reserve

System .............................................................................................................................. 6 ,7 U 6,66U

Re-exam inations; or other than regular exam inations......................................... 1U6 171

Entrance examinations o f operating noninsured banks....................................... U9 69

Examinations of departments and branches............................................................ 2,788 2,574

Examinations o f trust departments............................................................................. 860 8U3

Examinations o f branches.............................................................................................. 1,928 1,731

Investigations........................................................................................................................ 775 726

New bank investigations:

Banks members of Federal Reserve System ......................................................... 36 35

Banks not members o f Federal Reserve System .................................................. 107 115

New branch investigations.............................................................................................. 215 19 U

Miscellaneous investigations.......................................................................................... U17 382

Review of reports of examination of insured banks— total................................ 14,304 12,263

National banks................................................................................................................... 5,037 h i 31

State banks members o f Federal Reserve System .................................................... 1,932 1,715

State banks not members o f Federal Reserve System ............................................. 7,335 6,h l7

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SUPERVISORY ACTIVITIES 11

reviews reports of examination of national banks and State banks 

members of the Federal Reserve System. Banks regularly examined by 

the Corporation comprise approximately one-half of the nation’s banks 

and hold roughly one-fourth of the total deposits in insured banks.

The Corporation endeavors to make an annual examination of each 

insured bank not a member of the Federal Reserve System, and on occasion may examine banks members of the System. Examinations of 

State nonmember banks are often made jointly or concurrently with 

those conducted by the State supervisory authority. Frequency or 

regularity of examination, however, is secondary to keeping informed 

about individual banks in which special problems or unusual conditions 

exist. In addition, the Corporation makes investigations of proposals 

to establish new banks and branches. The bank examination activities 

of the Corporation in 1958 are classified in Table 4, and compared with 

the similar activities in 1957.

Citations for unsafe and unsound banking practices and

violations of law. Unsafe and prohibited practices reported by examiners are usually corrected by normal supervisory actions with the 

cooperation of the offending bank. In those occasional cases, however, 

where an insured bank continues to engage in unsafe or unsound practices 

or violations of law or regulations, the Corporation has the authority 

and responsibility to institute proceedings for termination of the insured 

status of such bank. Proceedings are initiated only after other methods 

to obtain corrective action by the bank itself have been exhausted, and 

during the proceedings the cited bank is given ample opportunity to 

present its case. If and when insurance is withdrawn, the insured deposits 

of each depositor on the date of termination, less subsequent withdrawals, 

continue to be insured for two years.

T a b le 5. A c tio n s to T e r m in a t e I n s u r e d St a t u s o f B a n k s C h a r g e d

w it h U n s a f e o r U n s o u n d B a n k in g P r a c t ic e s or V io l a t io n s

of L a w or R e g u l a t io n s, 1 9 3 6 -19 5 8

Disposition or status 1936-19581

T otal banks against w hich action was taken2......................................................................... 178

Cases closed2.................................................................................................................................................. 178

Corrections made2..................................................................................................................................... 66

Banks absorbed or succeeded by other banks.............................................................................. 68

W ith financial aid o f the Corporation............................................................................................ 62

Without financial aid o f the Corporation....................................................................................... 6

Banks suspended prior to setting date of termination of insured status by Corporation ................................................................................................................................................ 32

Insured status terminated, or date for such termination set by Corporation, for

failure to make corrections.......................................................................................................... 12

Banks suspended prior to or on date o f termination o f insured status............................... 9

Banks continued in operation3.......................................................................................................... 3

1 No action to terminate the insured status of any bank was taken before 1936. In five cases where

initial action was replaced by action based upon additional charges, only the latter action is included.

2 Includes one case pending January 1, 1958; no case was started during 1958 and none pending

at the end of the year.

8 One of these suspended four months after its insured status was terminated.

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12 FEDERAL DEPOSIT INSURANCE CORPORATION

During its 25 years of operation the Corporation has initiated termination proceedings against 178 banks. In about a third of the cases the 

required corrections were made; in another third of the cases the banks 

were absorbed or succeeded by other banks. In 44 cases the banks suspended or their insurance was terminated. Details concerning the outcome of actions to terminate the insured status of banks are given in 

Table 5.

In 1958, for the first time in several years, no actions were taken in 

contemplation of termination of insurance. The one case pending at 

the beginning of 1958 was closed when the necessary corrections were 

made.

Reports from banks. During 1958 each insured bank filed with the 

Corporation certified statements showing for the six months ended on 

the preceding June 30 and December 31, respectively, the amount of 

its deposit assessment base and the amount of the semiannual assessment 

for deposit insurance due the Corporation. Each insured bank also 

submitted statements of its assets and liabilities as of June 23 and December 31, 1958, and statements of its earnings, expenses, and dividends 

for the calendar year 1958. Only the insured banks not members of the 

Federal Reserve System submit their statements of condition and 

earnings directly to the Corporation; national banks and all banks in 

the District of Columbia furnish their statements to the Comptroller of 

the Currency, and State banks members of the Federal Reserve System 

to the respective Federal Reserve banks. Each of the Federal agencies 

tabulates and summarizes the data reported to it and makes the results 

available to the other agencies.

In addition to the reports from insured banks, the Corporation, by 

inter-agency agreement, gathers and processes statistics of assets and 

liabilities of noninsured banks and trust companies, and provides a 

tabulation covering assets and liabilities of all operating banks. The 

Corporation neither requests nor receives information on the earnings 

of noninsured banks.

The data on the condition and earnings of insured banks in 1958 are 

presented in Parts Four and Five of this report. Tabulations of reports 

of assets and liabilities classified by State are published semiannually 

by the Corporation in separate reports.

L e g a l D e v e l o p m e n t s

Federal legislation. The Federal Reserve Act was amended by 

Section 19 of Public Law 85-508, 85th Congress, approved July 7, 1958, 

(72 Stat. 350, 12 U.S.C. 222), to provide that Federal Reserve districts 

shall be adjusted to include the State of Alaska and that every national

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Federal Reserve Bank of St. Louis
LEGAL DEVELOPMENTS 13

bank in any State shall upon commencing business or within ninety days 

after admission into the Union of the State in which it is located, become 

a member of the Federal Reserve System and shall thereupon be an 

insured bank under the Federal Deposit Insurance Act. Section 19 of 

Public Law 85-508 is given in Part Three of this report. No other legislation directly affecting deposit insurance or insured banks in general 

was enacted during the Second Session of the 85th Congress.

Rules and regulations o f the Corporation. Section 327.1(d) of 

the rules and regulations of the Corporation was amended to exclude 

from the meaning of the term “ cash item” any instrument received for 

the purpose of abnormally increasing deposits or reducing assessments 

with deductions, and to permit the subtraction from reported deposits 

in computing the assessment base of the amounts of such excluded 

instruments. The amendment, published in the Federal Register of 

March 26, 1958 (23 F.R. 1986) and made effective on that date, is given 

in Part Three of this report. Amendments of Assessment Decisions 

Nos. 23, 25, 53 and 102 (12 CFR 327.123, 327.125, 327.153 and 327.202) 

were published in the Federal Register of April 29, 1958 (23 F.R. 2839— 

2841). Copies of the amended regulation and assessment decisions have 

been furnished to each insured bank.

State legislation. A summary of State banking legislation enacted 

in 1958 is given in Part Three of this report.

A d m in is t r a t io n op t h e C o r p o r a t io n

Structure. Management of the Federal Deposit Insurance Corporation has since the beginning been vested in a bipartisan Board of 

Directors consisting of three members. The Comptroller of the Currency 

serves ex juris as a member of the Board, and each of the two appointed 

members is named by the President for a term of six years. The functions 

of the Corporation are carried out through appropriate Divisions and 

Committees whose interrelationships are shown on page iv.

The Corporation has its main office in Washington, D. C., and maintains District Offices in 12 major cities, through which bank examinations 

are conducted. The District Offices and the area covered by each of 

them are shown on pages vi and vii.

Directors of the Corporation, 1933-1958. During the Corporation’s 

25 years of operation 14 individuals have served on its Board of Directors, 

five as Chairman. Walter J. Cummings’ brief service as Chairman 

occurred during the organizational period when in less than four months 

nearly 7,800 banks were examined preliminary to their admission to

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Federal Reserve Bank of St. Louis
14 FEDERAL DEPOSIT INSURANCE CORPORATION

insurance. Leo T. Crowley was Chairman during the formative years up 

through the end of World War II. Adjustment to the problems of a 

rapidly growing banking system occurred during the eleven-year administration of Maple T. Harl and H. E. Cook who served successively 

as Chairman. Jesse P. Wolcott brought to the Office in 1957 a quartercentury of legislative experience in banking matters. With the assistance 

of the other directors, and that of the successive Comptrollers of the 

Currency, these men have been responsible for the administration of 

the Corporation’s affairs.

There was no change in the membership of the Board of Directors 

in 1958. However, the Chairman of the Board, Jesse P. Wolcott, who 

was given a recess appointment on September 12, 1957, began a six-year 

term on January 27, 1958, with the issue of his commission by the President on that date following confirmation of his nomination by the United 

States Senate. Names of the Corporation’s directors and other officials 

are given on page v, followed on page vi with the names of the supervising 

examiners of the different district offices.

Employment. The changing emphasis in the Corporation’s work 

during its 25 years of operation is reflected in changes in employment. 

In the early years liquidation activities required most attention; the 

Corporation’s peak employment was reached in 1941 when almost 

two-thirds of the 2,538 employees were engaged in liquidation work. 

In recent years bank examinations have received most emphasis, and 

currently engage close to three-quarters of the Corporation’s personnel. 

During its 25 years of operation total employment by the Corporation 

has averaged 1,271 employees.

The Corporation had 1,233 employees on December 31, 1958. This 

was about 50 more than a year earlier, due almost entirely to the larger 

examining staff. About 5 percent of the total number of employees had 

been with the Corporation 25 years or more, or virtually from its beginning. The distribution of employees at the end of 1958 according to

T a b l e 6. N u m b e r o f O f f i c e r s a n d E m p lo y e e s o f t h e 

F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , D e c e m b e r 31, 1958

Division Total Washington

office

District

and other

field

offices

T o ta l.............................................................................................................. 1,233 299 934

Directors.................................................................................................. 3 3

Executive Offices.................................................................................. 18 18

Legal Division....................................................................................... 24 24

Division of Examination................................................................... 907 50 857

Division of Liquidation..................................................................... 52 20 32

Division of Research and Statistics............................................. 45 45

Audit Division....................................................................................... 63 18 45

Office of the Controller...................................................................... 121 121

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ADMINISTRATION OF THE CORPORATION 15

Division and location is given in Table 6; and according to length of 

service, in Table 7.

Table 7. N u m b e r o f O f f i c e r s a n d E m p lo y e e s o f t h e F e d e r a l D e p o s it

In s u r a n c e C o r p o r a tio n , D e c e m b e r 31, 1958, D is t r ib u t e d

A c c o r d in g t o L e n g th o f S e r v ic e

Length of service Number Percent

T o ta l.................................................................................................................. 1,233 100.0%

Less than 1 year........................................................................................ 179 14.5

1 to 5 years.................................................................................................. 395 32.0

5 to 10 years............................................................................................... 219 17.8

10 to 15 years............................................................................................. 132 10.7

15 to 20 years............................................................................................. 115 9.3

20 to 25 years............................................................................................. 133 10.8

25 years or more....................................................................................... 60 4.9

Employee benefits and programs. Employees of the Corporation 

are eligible for the benefits generally available to Federal employees. 

These include vacation and sick leave, retirement annuities, life insurance, 

compensation for on-the-job injuries, and unemployment benefits. 

In addition, the Corporation provides hospitalization, surgical benefits, 

and in-hospital medical benefits; a credit union facility; and an educational program.

Participation in employee benefit programs continued to be widespread 

in 1958. At the year-end 99 percent of the employees were included in the 

Civil Service Retirement System, the remaining one percent being 

covered by the Social Security Act. Ninety-six percent of the eligible 

employees had availed themselves of the group life insurance benefits, 

and 99 percent participated in the hospitalization, surgical, and inhospital medical benefits program. Slightly over a third of the employees 

had shares in the credit union; this facility is particularly beneficial to 

examiners, who are prohibited by law from borrowing from insured banks.

The educational program for examiners, begun in 1946 and subsequently extended to auditors and liquidators, has enjoyed broad 

participation. During its 13 years of operation about 2,400 formal courses 

of study have been completed. The program consists principally of 

correspondence courses given by the American Institute of Banking and 

special graduate courses in banking conducted at six universities. In 

addition, Corporation examiners and other staff members participate 

as instructors and students in the Inter-Agency Bank Examination 

School sponsored by the Federal bank supervisory agencies and conducted 

by the Board of Governors of the Federal Reserve System; 194 Corporation examiners have attended this school since its start in 1952. About 

half of the examiners were enrolled in courses of study at the end of 1958.

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Federal Reserve Bank of St. Louis
16 FEDERAL DEPOSIT INSURANCE CORPORATION

F in a n c e s o f t h e C o r p o r a t io n

Cumulative income and its sources. The Corporation is financed 

primarily through regular assessments upon insured banks. The statutory 

assessment rate is 1/12 of one percent annually of total deposits less 

certain authorized exclusions and deductions. Against current assessments the banks are allowed a credit, under terms of the Federal Deposit 

Insurance Act of 1950, amounting to 60 percent of net assessment income; 

that is, assessment income remaining after deduction of insurance losses 

and operating expenses. The remaining 40 percent of net assessment 

income is retained by the Corporation, along with other funds received, 

and invested principally in United States Government securities. Interest 

on these obligations constitutes an important secondary source of income. 

In addition, the Corporation has received some income on assets acquired 

in its insurance operations.

Income received by the Corporation in each year of its operation, and 

cumulative for the period 1933-1958, is shown in Table 8. The cumulative 

total is also distributed in Chart B according to its source and disposition.

Chart B . S o u r c e s a n d D is p o s itio n o f In com e o f t h e F e d e r a l

D e p o s it In s u r a n c e C o r p o r a tio n , 1933-1958

SOURCES DISPOSITION

Assets and liabilities. Assets of the Corporation totaled $2,068 

million on December 31, 1958. More than 99 percent, or $2,061 million, 

consisted of United States Government securities and accrued interest 

on them. Assets held which had been acquired in insurance operations 

were valued at over $3 million, after provision for losses. Cash held at 

the year-end amounted to $3 million.

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FINANCES OF THE CORPORATION 17

T a b le 8 . In com e an d E x p e n s e s o f t h e F e d e r a l D e p o s it In s u r a n c e

C o r p o r a tio n , b y Y e a r s , fr o m B e g in n in g o f O p e ra tio n s,

S e p te m b e r 11, 1933, t o D e c e m b e r 31, 1958,

A d ju s te d t o D e c e m b e r 31, 1958

(In millions)

Year

Income Expenses and losses

Net

income

added to

deposit

insurance

fund2

Total

Deposit

insurance

assessments

Investments

and

other

sources

Total

Deposit

insurance

losses and

expenses

Interest

on capital

stock1

Administrative

and

operating

expenses

1 9 3 3 -5 8 .. $2,212.8 $1,592.63 $620.2 $247.4 $28.9 $80.6 $137.9 $1,965.4

1958 126.8 73.83 53.0 11.9 .3 11.6 114.9

1957 117.3 69.13 48.2 9.7 .1 9.6 107.6

1956 111.9 68.23 43.7 9.6 .5 9.1 102.3

1955 105.7 66.13 39.6 9.0 .3 8.7 96.7

1954 99.7 62.43 37.3 7.8 .1 7.7 91.9

1953 94.2 60.23 34.0 7.3 .1 7.2 86.9

1952 88.6 57.33 31.3 7.8 .8 7.0 80.8

1951 83.8 54.33 29.5 7.0 .1 6.9 76.8

1950 84.8 54.23 30.6 7.8 1.4 6.4 77.0

1949 151.1 122.7 28.4 6.4 .3 6.1 144.7

1948 146.9 119.3 27.6 7.3 .7 .6 6.0 139.6

1947 157.7 114.4 43.3 10.4 .1 4.8 5.5 147.3

1946 130.9 107.0 23.9 10.4 .1 5.8 4.5 120.5

1945 121.2 93.7 27.5 9.7 .1 5.8 3.8 111.5

1944 99.5 80.9 18.6 9.7 .1 5.8 3.8 89.8

1943 86.7 70.0 16.7 10.2 .2 5.8 4.2 76.5

1942 69.4 56.5 12.9 10.3 .5 5.8 4.0 59.1

1941. ., 62.0 51.4 10.6 10.1 .6 5.8 3.7 51.9

1940 55.9 46.2 9.7 12.9 3.5 5.8 3.6 43.0

1939......... 51.2 40.7 10.5 16.4 7.2 5.8 3.4 34.8

1938 47.7 38.3 9.4 11.3 2.5 5.8 3.0 36.4

1937 48.2 38.8 9.4 12.2 3.7 5.8 2.7 36.0

1936 43.8 35.6 8.2 10.9 2.6 5.8 2.5 32.9

1935 20.8 11.5 9.3 11.3 2.8 5.8 2.7 9.5

1 9 3 3 -3 4 .. 7.0 (4) 7.0 10.0 .2 5.6 4.25 — 3.06

1 Paid in 1950 and 1951, but allocated among years to which it applies. Initial capital of $289 million

was retired by payments to the United States Treasury in 1947 and 1948.

2 The amounts shown herein give effect to adjustments to the deposit insurance fund in the years

to which they are applicable, whereas the amounts of the Fund shown in Table 10 represent the Fund

as reported on the dates specified. Hence the deposit insurance fund reported in Table 10 cannot be

computed by annual addition of income reported herein, except for the Fund as of December 31, 1958.

3 Net after deducting the portion of net assessment income credited to insured banks, totaling $781

million, pursuant to provisions of the Federal Deposit Insurance Act of 1950.

4 Assessments collected from insured banks, members of the temporary insurance funds which became insured under the permanent plan, were credited to their accounts in total at the termination of

the temporary funds and were applied toward payment of subsequent assessments becoming due under

the permanent insurance fund, resulting in no income to the Corporation from assessments during

the existence of the temporary insurance funds.

6 Net after deducting the portion of expenses and losses charged to banks withdrawing from the

temporary insurance funds on June 30, 1934.

6 Deduction.

Liabilities totaled $102 million, and consisted principally of net assessment income credits due insured banks. Assets and liabilities of the 

Corporation on December 31, 1958, are presented in Table 9.

The excess of the Corporation’s assets over its liabilities constitutes 

the deposit insurance fund. This fund increased $115 million during 

1958, and amounted to $1,965 million at the year-end, as shown in Tables 

9 and 11.

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18 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 9 . A s s e t s a n d L i a b i l i t i e s o f t h e

F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , D e c e m b e r 31, 1958

ASSETS

Cash..................................................................................................................

U . S. Government obligations:

Securities at amortized cost (face value $2,052,900,000;

market or redemption value $1,959,277,891).....................

Accrued interest receivable................................................................

Assets acquired in receivership and deposit assumption transactions:

Subrogated claims of depositors against closed banks.............

Net insured balances of depositors in closed banks, to be

subrogated when paid— contra....................................................

Loans to insured banks.......................................................................

Loan to receiver for closed bank.....................................................

Assets purchased under agreements to return any excess

recovery to selling banks................................................................

Other purchased assets........................................................................

Less— reserves for losses......................................................................

Deferred charges and sundry assets....................................................

Furniture, fixtures, and equipment....................................................

T o ta l a ssets.....................................................................

L IA B IL IT IE S1

Accounts payable and miscellaneous accrued liabilities............

Earnest money; escrow funds; and collections held for others.

Accrued annual leave of employees....................................................

Due insured banks:

N et assessment income credits available July 1, 1959...........

Other............................................................................................................

Deferred credits...........................................................................................

Net insured balances of depositors in closed banks— contra. .

T otal liabilities.............................................................

D EPOSIT IN SU R A N C E FU N D

Fund (See table 11)*..................................................................................

T otal liabilities and fu n d ......................................

$2,049,066,673

11,628,241

$ 3,320,730

62,419

2,006,673

320,000

5,809,705

8,482

11,528,009

7,910,655

92,964,101

6,891,526

3,159,161

2,060,694,914

3,617,354

121,5741

$2,067,593,004

639,313

395,925

1,190,966

99,855,627

3,144

62,419

$ 102,147,394

1,965,445,610

$2,067,593,004

1 Capital stock was retired by payments to the United States Treasury in 1947 and 1948, pursuant

to the Acts of August 5, 1947, (61 Stat. 773) and June 29, 1948, (62 Stat. 1092).

J The deposit insurance fund represents the cumulative net income (surplus) of the Corporation

from its inception to December 31, 1958. For the protection of depositors, in addition to this fund, the

Corporation is authorized to borrow up to three billion dollars from the United States Treasury when

in the judgment of the Board of Directors such funds are required for insurance purposes.

At the end of 1958 the deposit insurance fund was approximately

0.81 percent of total deposits in insured banks, slightly below the ratio

of both the previous year and December 31, 1934. The continuing growth

in the fund has not always kept pace with the growth in deposits. The

relation of the insurance fund to deposits for each year from 1934 to

1958 is shown in Table 10.

Income and its disposition in 1958. Net income of the Corporation in 1958 was $115 million. Total income for the year, consisting of

insurance assessments of $74 million and income from investments and

other income of $53 million, amounted to $127 million. Losses and exDigitized for FRASER 

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FINANCES OF THE CORPORATION 19

T a b le 1 0 . I n s u r e d D e p o s i t s a n d t h e D e p o s i t I n s u r a n c e F u n d , 1 9 3 4 -1 9 5 8

Year

(Dec. 31)

Deposits in

insured banks

(in millions) Percent

of

deposits

insured

Deposit

insurance

fund

(in

millions)

Ratio of deposit

Insurance fund to—

Total Insured1 Total

deposits

Insured

deposits

1958.................................................... $242,445 $137,698 56.8% $1,965.4 .8 1 % 1 .4 3 %

1957.................................................... 225,507 127,055 56.3 1,850.5 .82 1.46

1956.................................................... 219,393 121,008 55.2 1,742.1 .79 1.44

1955................................................... 212,226 116,380 54.8 1,639.6 .77 1.41

1954.................................................... 203,195 110,973 54.6 1,542.7 .76 1.39

1953.................................................... 193,466 105,610 54.6 1,450.7 .75 1.37

1952.................................................... 188,142 101,842 54.1 1,363.5 .72 1.34

1951................................................... 178,540 96,713 54.2 1,282.2 .72 1.33

1950.................................................... 167,818 91,359 54.4 1,243.9 .74 1.36

1949.................................................... 156,786 76,589 48.8 1,203.9 .77 1.57

1948.................................................... 153,454 75,320 49.1 1,065.9 .69 1.42

1947.................................................... 154,096 76,254 49.5 1,006.1 .65 1.32

1946.................................................... 148,458 73,759 49.7 1,058.5 .71 1.44

1945.................................................... 158,174 67,021 42.4 929.2 .59 1.39

1944.................................................... 134,662 56,398 41.9 804.3 .60 1.43

1943.................................................... 111,650 48,440 43.4 703.1 .63 1.45

1942.................................................... 89,869 32,837 36.5 616.9 .69 1.88

1941.................................................... 71,209 28,249 39.7 553.5 .78 1.96

1940.................................................... 65,288 26,638 40.8 496.0 .76 1.86

1939.................................................... 57,485 24,650 42.9 452.7 .79 1.84

1938.................................................... 50,791 23,121 45.5 420.5 .83 1.82

1937.................................................... 48,228 22,557 46.8 383.1 .79 1.70

1936.................................................... 50,281 22,330 44.4 343.4 .68 1.54

1935................................... ................ 45,125 20,158 44.7 806.0 .68 1.52

1934.................................................... 40,060 18,075 45.1 333.0 .83 1.84

1 Estimated by applying to the deposits in the various types of account at the regular call dates

the percentages insured as determined from special reports secured from insured banks.

penses were $12 million, most of which consisted of operating expenses

and the remainder of provision for insurance losses and expenses.

Assessments due the Corporation in 1958 totaled $167 million. However, $93 million of this amount was credited to insured banks, allocated

in proportion to their assessments which became due in 1958, and becomes available to them for use in paying deposit insurance assessments

for the six-month period beginning July 1, 1959.

Income and expenses of the Corporation in 1958 and their effect upon

the deposit insurance fund are shown in Table 11. Administrative and

operating expenses classified as to type are given in Table 12. Table 13

shows the determination and distribution of net assessment income in

1958.

Audit. The Audit Division of the Corporation makes a continuous

audit of its financial affairs. Outside audits have been made annually,

first by private firms, and since 1945 by the General Accounting Office.

The short form of the audit report for the year ended June 30, 1958,

as furnished by the Comptroller General, is presented in Table 14,

pages 21-23.

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20 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 1 1 . I n c o m e a n d E x p e n s e s o f t h e F e d e r a l D e p o s i t I n s u r a n c e

C o r p o r a t i o n , a n d C h a n g e s in t h e D e p o s i t I n s u r a n c e F u n d ,

f o r t h e Y e a r E n d e d D e c e m b e r 31, 1958

IN C O M E A N D E X PE N SES

N et incom e for the year ended D ecem ber 31, 1958:

Income:

Deposit insurance assessments....................................................

Less net assessment income credit due insured banks

(see table 1 3 )..................................................................................

N et income from U . S. Government securities

Other income..................................................................

Total income.....................................................................

Expenses and losses:

Administrative and operating expenses (see table 12)

Provision for reserves for insurance losses.............................

Other insurance losses and expenses.........................................

Total expenses and losses

N et incom e (addition to the deposit insurance fund)

for the year ended Decem ber 31, 1958.........................

DEPOSIT IN SU R A N C E FU N D

D eposit Insurance fu n d , Decem ber 31, 1957..........................

Adjustments applicable to periods prior to January 1, 1958

(increasing the fund):

By reduction of provisions for reserves for insurance

losses (net):

Reductions applicable to net assessment income (net).........

Less— Increases not applicable to net assessment

income (net)....................................................................................

Less— Reduction of assessments (net)

Net adjustments

D eposit insurance fu n d , D ecem ber 31, 1957, as adjusted

Net income for the year ended December 31,1958 (see above)-

addition to the fund....................................................................

Deposit insurance fu n d , Decem ber 31, 19581

1 See footnote 2, Table 9.

T a b le 1 2 . A d m in i s t r a t i v e a n d O p e r a t i n g E x p e n s e s o f t h e F e d e r a l D e p o s i t

I n s u r a n c e C o r p o r a t io n f o r t h e Y e a r E n d e d D e c e m b e r 31, 1958

Personal services......................................................................................................................................

Transportation of things......................................................................................................................

Communication services.......................................................................................................................

Rents and utilities..................................................................................................................................

$ 8,022,843

2,130,131

26,191

87,278

458,456

80,614

48,398

62,464

696,910

Printing and reproduction...................................................................................................................

Supplies and materials..........................................................................................................................

Equipment..................................................................................................................................................

Other contractual services...................................................................................................................

T o ta l................................................................................................................................ $11,613,285

Less recoverable expenses and other credits................................................................................ 7,321

N et adm inistrative and operating expenses....................................................................... $11,605,964

$166,844,655

92,959,203

$ 73,885,452

53,051,744

15,156

11,605,964

359,563

58,277

111,154

16,721

94,433

36,798

$ 126,952,352

12,023,804

$ 114,928,548

$1,850,459,427

57,635

$1,850,517,062

114,928,548

$1,965,445,610

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FINANCES OF THE CORPORATION 21

Table 13. D e t e r m i n a t i o n a n d D i s t r i b u t i o n o p N e t A s s e s s m e n t I n c o m e o p t h e

F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n f o r t h e Y e a r E n d e d D e c e m b e r 31,1958

D eterm ination of n et assessm ent in c o m e :

Total assessments which became due during the calendar year

Less:

Administrative and operating expenses.............................................

Net additions to reserves to provide for insurance losses:

Provided in 1958.....................................................................................

Adjustments to provisions for reserves made prior to

1958 (reduction).................................................................................

Other insurance losses and expenses...................................................

Total deductions..................................................................

Net assessment income for 1958...........................................................

D istribution of net assessm ent incom e,

Decem ber 31, 1958:

Net assessment income for 1958:

40 percent transferred to deposit insurance fund.....................

Balance credited to insured banks..................................................

Total..........................................................................................

A llocation of net assessm ent incom e credit am on g

insured banks, Decem ber 31, 1958:

Credit for 1958.............................................................................................

Adjustment of credits for prior years................................................

Total..........................................................................................

1 Deduct.

Table 14. A u d i t R e p o r t o f t h e F e d e r a l D e p o s i t I n s u r a n c e

C o r p o r a t i o n f o r t h e F i s c a l Y e a r E n d e d J u n e 30, 1958

C o m p t r o l l e r G e n e r a l o f t h e U n i t e d S t a t e s

W a s h i n g t o n 25

B-l 14831 December 10, 1958

To

Federal Deposit Insurance Corporation

Washington, D. C.

The General Accounting Office has made an audit of the F e d e r a l D e p o s i t I n ­

s u r a n c e C o r p o r a t i o n , an independent Government agency, for the fiscal year

ended June 30,1958, in accordance with section 17(b) of the Federal Deposit Insurance

Act (12 U.S.C. 1827).

The audit included an examination of the Corporation’s statement of financial

condition as of June 30, 1958, and of the related statements of income and deposit

insurance fund for the year then ended in accordance with generally accepted auditing

standards and such tests of the accounting records and such other auditing procedures

as we considered necessary in the circumstances and appropriate in view of the effectiveness of the system of internal control, including the work performed by the Corporation’s internal auditors.

The Corporation’s accumulated net income has been retained as a deposit insurance

fund and is available for future deposit insurance losses. We are unable to express

an opinion on the adequacy of the fund to meet future losses because the amount

$166,844,655

$ 11,605,964

$ 359,563

lll,1 5 4 i 248,409

58,277

$ 11,912,650

$154,932,005

$ 61,972,802

92,959,203

$154,932,005

Percent of total

assessments becoming due in 1958

$92,959,203

4,898

55.716%

.003

$92,964,101 55.719%

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22 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 14. A u d it R e p o r t o f t h e F e d e r a l D e p o s it In s u r a n c e

C o r p o r a tio n f o r t h e F is c a l Y e a r E n d e d J u n e 30, 1958— Continued

that may be needed is dependent on future economic conditions which cannot be

predicted.

In our opinion, subject to the foregoing comments, the accompanying financial

statements (exhibits 1 and 2) present fairly the financial position of the Federal Deposit

Insurance Corporation at June 30, 1958, and the results of its operations for the year

then ended, in conformity with generally accepted accounting principles applied on

a basis consistent with that of the preceding year and with applicable Federal laws.

/s / J osep h C a m p b e ll

Comptroller General of the United States

Exhibit 1. F e d e r a l D e p o s it In s u r a n c e C o r p o r a tio n ,

S ta t e m e n t o f F in a n c ia l C o n d itio n , J u n e 30, 1958

ASSETS

C a s h ......................................................................................................................

U . S. G overnm ent obligations:

Securities, at amortized cost (face value, $2,034,400,000;

market or redemption value $2,015,206,844)............................

Accrued interest receivable.....................................................................

Assets acquired in deposit assu m p tion and receivership

transactions:

Subrogated claims of depositors against closed insured banks.

Net balances of depositors in closed insured banks, to be

subrogated when paid— contra. . ........................>...........................

Loans to insured banks and to receiver of closed insured bank.

Equity in assets acquired under purchase agreements...............

Assets purchased outright.......................................................................

Less estimate for losses............................................................................

A ccounts receivable, deferred charges, and sundry

assets..........................................................................................................

F urniture, fixtures, and equ ipm ent, less accumulated

depreciation of $681,671.....................................................................

LIA B IL IT IE S A N D DEPOSIT IN SU R A N C E FU N D

A ccounts payable and accrued liabilities....................................

Earnest m on e y, escrow fu n d s, and collections held for

o th e rs.........................................................................................................

Em ployees’ accrued an nual leave.....................................................

Deferred credits............................................................................................

N et balances of depositors in closed insured banks—

c o n tra ........................................................................................................

N et assessm ent incom e credits due insured banks (note 1) :

Available July 1, 1958..............................................................................

Estimated amount available July 1, 1959, from net assessment income for 6 months ended June 30, 1958......................

Total liabilities.....................................................................

D eposit insurance fu n d , representing accumulated income

income from inception to June 30, 1958, available for

future deposit insurance losses (note 2 and exhibit 2 ).........

$2,030,399,827

8,342,989

3,545,649

78,232

2,446,444

6,068,046

8,494

12,146,865

7,752,778

$ 90,417,002

45,802,654

$ 2,406,267

2,038,742,816

4,394,087

146,317

1

$2,045,689,488

629,939

349,220

1,213,886

12,166

78,232

136,219,656

$ 138,503,099

1,907,186,389

$2,045,689,488

The notes following exhibit 2 are an integral part of this statement.

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FINANCES OF THE CORPORATION 23

Table 14. A u d i t R e p o r t o p t h e F e d e r a l D e p o s i t I n s u r a n c e

C o r p o r a t i o n f o r t h e F i s c a l Y e a r E n d e d J u n e 30, 1958— Continued

Exhibit 2. F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , S t a t e m e n t o f I n c o m e

a n d D e p o s i t I n s u r a n c e F u n d , F i s c a l Y e a r E n d e d J u n e 30, 1958

i n c o m e

In com e :

Deposit insurance assessments............................................................

Less net assessment income credits due insured banks (note 1)

Income from U . S. Government securities

Other income.........................................................

Total income.............................

Expenses and losses:

Administrative and operating expenses:

Salaries...........................................................

Travel.............................................................

Rents and utilities.....................................

Other...............................................................

Nonrecoverable deposit insurance expenses..................................

Estimated loss on banking assets acquired during the fiscal

year............................................................................................................

Total expenses and losses

N et incom e for fiscal year 1958— transferred to deposit

insurance fund.......................................................................................

D EPOSIT IN SU R A N C E FU N D

Balance a t June 30, 1957.......................................................................

A dditions:

Net income for fiscal year 1958 (see above).................................

Adjustment of estimated losses on banking assets acquired

during prior fiscal years....................................................................

Balance at June 30, 1958

The following notes are an integral part of this statement.

N o t e s t o t h e F i n a n c i a l S t a t e m e n t s — J u n e 30, 1958

1. The Federal Deposit Insurance Act (12 U .S .C . 1817(d)) provides that the insured banks shall

be allowed against their current semiannual insurance assessments pro rata credits totaling 60 percent

of the Corporation's net assessment income (as defined by the act) for the prior calendar year. At June

3 0,1958 , the net amount due the banks for net assessment income credits totaled $136,219,656 comprised

of credits of $90,417,002 for calendar year 1957 and prior years and of estimated credits of $45,802,654

for the first 6 months of calendar year 1958.

2. The deposit insurance fund of $1,907,186,389 at June 30, 1958— equivalent to 1.48 percent

of the insured deposits in all banks, estimated by the Corporation at 128.7 billion dollars— is available

for future deposit insurance losses and related expenses. The fund, however, is not a measure of the deposit

insurance risk. Its adequacy to meet future losses is dependent on future economic conditions which cannot be predicted. The Corporation from Its inception to June 30, 1958, has made disbursements of about

$344,600,000 in protecting depositors of 435 insured banks and facilitating the termination of liquidations. The Corporation's losses amount to about $28,682,000, including estimated losses of $7,753,000

on cases not terminated at the close of fiscal year 1958.

The existing law does not specify either the amount or the ratio of insured deposits to which th«

insurance fund is to be accumulated. The Corporation is authorized to borrow up to 3 billion dollars

from the United States Treasury when, in the judgment of the board of directors, such funds are required for insurance purposes. The Corporation has never used this borrowing authority.

$ 162,109,622

90,935,431

$ 71,174,191

51,293,721

4,507

$ 122,472,419

$ 7,400,352

2,085,800

444,830

990,236

$10,921,218

38,400

102,696

11,062,314

$ 111,410,105

$1,795,381,613

111,410,105

394,671

$1,907,186,389

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Federal Reserve Bank of St. Louis
PART TWO

OPERATIONS OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

TO PROTECT DEPOSITORS IN FAILING BANKS, 1934-1958

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Federal Reserve Bank of St. Louis
O p e r a tio n s o f t h e F e d e r a l D e p o s it In s u r a n c e C o r p o r a tio n

t o P r o t e c t D e p o s ito r s in F a ilin g B a n k s, 1934-1958

At the end of 1958 the Federal Deposit Insurance Corporation had 

been insuring bank deposits for a quarter of a century. During these 25 

years, depositors in insured banks have enjoyed a degree of protection 

unmatched in the Nation’s banking history. This study provides, for 

the first time, a detailed analysis of the Corporation’s insurance operations in the cases of failing banks, including the extent of depositor 

protection, the results of the liquidation of assets acquired in these cases, 

and the cost to the Corporation.1

G e n e r a l S u m m a r y

Number o f failing banks and their deposits. During its 25 years 

of operation the Corporation has made disbursements to protect the 

depositors in 436 failing banks. These banks had deposits totaling nearly 

$600 million, and ranged in size from a bank with only $5,000 of deposits, 

to two banks with deposits of about $50 million each.

The most extensive operations by the Corporation to protect depositors in the cases of failing banks occurred during the first decade 

of its existence. Nine-tenths of all the cases, involving approximately 

85 percent of the deposits in the 436 banks, occurred during this decade. 

The peak periods in number of cases and amount of deposits roughly 

coincide, although the largest number of cases occurred during 1937-38 

and the deposits in failing banks were greatest in the two following 

years, 1939-40. The number of banks is shown for each year in Table 15,

Table 15. N u m b e r o f I n s u r e d B a n k s R e q u i r i n g D i s b u r s e m e n t s b y t h e

F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n f o r t h e P r o t e c t i o n

o f D e p o s i t o r s , 1934r-1958

Year

All

cases

Deposit

payoff

cases

Deposit

assumption

cases

Year

All

cases

Deposit

payoff

cases

Deposit

assumption

cases

1934-1958. 436 254 182

1946............ 1 1

1958............ 4 3 1 1945............ 1 1

1957............ 1 1 1944............ 2 1 1

1956............ 2 1 1 1943............ 5 4 1

1955............ 5 4 1 1 9 4 2 ,.......... 20 6 14

1954............ 2 2 1941............ 15 8 7

1953............ 2 2 1940............ 43 19 24

1952............ 3 3 1939............ 60 32 28

1951............ 2 2 1938............ 74 50 24

1950............ 4 4 1937............ 75 50 25

1949............ 4 4 1936............ 69 42 27

1948............ 3 3 1935............ 25 24 1

1947............ 5 5 1934............ 9 9

1 The relationship between insurance operations and the adequacy of the deposit insurance fund is

not discussed in this study; for an analysis of that subject see the Annual Report for 1957, pp. 49-72.

27

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Federal Reserve Bank of St. Louis
2 8 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 1 6 . T o t a l D e p o s i t s a n d D e p o s i t s m a d e A v a i l a b l e t o D e p o s i t o r s ,

I n s u r e d B a n k s R e q u i r i n g D i s b u r s e m e n t s b y t h e F e d e r a l D e p o s i t

I n s u r a n c e C o r p o r a t i o n f o r P r o t e c t i o n o f D e p o s i t o r s , 1934-1958

(Amounts in thousands)

All cases Deposit payoff cases Deposit

assumption

Year

Total

Paid or made available

to depositors1 Total

Paid or made available

to depositors1

cases

(all deposits

available to

depositors) Amount Percent Amount Percent

1934-1958 $592,641 $590,739 99.7% $126,114 $124,211 98.5% $466,527

1954-1958 2

1958............

1957............

1956............

1955............

1954............

$ 33,683

8,239

1,163

11,329

11,953

998

$ 33,557

8,184

1,163

11,267

11,945

998

99.6%

99.3

100.0

99.5

99.9

100.0

$ 16,523

4,156

1,163

4,702

6,503

$ 16,398

4,100

1,163

4,640

6,495

99.2%

98.7

100.0

98.7

99.9

$ 17,159

4,084

............6,628

5,450

998

1934-1953 *

1953............

$558,958

18,262

3,170

3,408

5,513

5,475

10,674

7,040

347

$557,181

18,262

3,170

3,408

5,513

5,475

10,674

7,040

347

9 9.7%

100.0

$109,590 $107,813 98.4 % $449,368

18,262

1952............ 100.0 3,170

1951............ 100.0 3,408

5,513

5,475

10,674

1950............ 100.0

1949............ 100.0

1948............ 100.0

1947............ 100.0 7,040

1946............ 100.0 347

1945............ 5,695

1,915

5,695 100.0 5,695

1944............ 1,911 99.8 456 452 99.2 1,459

1943............

1942............

1941............

1940............

1939............

12,525

19,186

29,718

142,429

157,772

12,512

19,181

29,685

142,398

156,836

99.8

99.97

99.8

99.97

99.4

6,637

1,816

14,730

5,657

32,738

6,624

1,811

14,698

5,626

31,802,

99.8

99.7

99.8

99.4

97.1

5,888

17,369

14,987

136,773

125,034

1938............

1937............

1936............

1935............

1934............

59,684

33,349

27,508

13,319

1,968

59,645

33,239

27,337

12,904

1,949

99.9

99.7

99.4

96.9

99.0

10,296

14,960

11,241

9,091

1,968

10,2571

14,850

11,070

8,675

1,949

99.6

99.3

98.5

95.4

99.0

49.388

18.389

16,267

4,229

N ote: Due to rounding differences, components may not add precisely to the indicated totals.

Percentages computed from unrounded data.

1 Payments by the Federal Deposit Insurance Corporation and by receivers, and estimated additional

payments in active deposit payoff cases. Includes insured deposits available but not claimed.

* All cases for this period are active.

* Data for these years include a few active deposit assumption cases, for which no change in data

is anticipated.

along with a distribution of the totals between those eases in which the 

Corporation paid the depositors directly and those in which deposits 

were assumed by other insured banks. The differences between the two 

methods of protecting depositors are described later in this study. The 

deposits of the failing banks are shown in Table 16.1

Causes o f failure. The serious financial difficulties of the 436 banks 

stemmed from a wide variety of causes. In the majority of these cases, 

particularly those occurring during the first decade of deposit insurance, 

the problem was that of poor asset condition and consequent capital 

impairment, which in turn could be traced to a number of causes, such 

as mismanagement, deteriorating local economic conditions, or an inability to restore financial positions which had been seriously impaired

1 Excluded from the study are seven insured banks in financial difficulties which were closed temporarily or permanently, but which did not require disbursements from the Corporation for the protection

of their depositors, and 118 banks not insured by the Corporation which failed between 1934 and 1958.

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Federal Reserve Bank of St. Louis
OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— SUMMARY 29

during the 1930-33 depression years. In approximately one-fourth of 

the banks, defalcation or losses attributable to other financial irregularities 

by officers or employees appear to have been the primary cause of failure. 

Such irregularities have been responsible for most of the cases occurring 

since World War II.

The inability of some banks to recover from the effects of the banking 

difficulties which preceded the establishment of the Corporation helps 

explain the fact that the most extensive operations occurred not in the 

very first years of the Corporation’s existence but, rather, in the late 

1930’s and in 1940. Under the law pertaining to the temporary insurance 

fund, from January 1, 1934, to August 22, 1935, the requirement for 

admission to insurance was simply that the assets of the applying bank 

be adequate to enable it to meet all of its liabilities to depositors and other 

creditors as shown by the books of the bank. Under this criterion some 

of the banks were admitted to insurance with only a negligible capital 

cushion. Many such banks were able to restore their financial positions 

as economic conditions improved, but others were unable to do so. The 

recession of 1937-38 further weakened such banks, and these were the 

peak years in number of cases handled by the Corporation. The very 

large amounts of deposits in several of the failing banks account for the 

deposit highs occurring in 1939 and in 1940.

Geographic and size distributions of failing banks. When the 

number of failing banks and the amount of their deposits are grouped 

by State it is found that three States—New Jersey, New York, and 

Pennsylvania—have together accounted for about 70 percent of the 

total deposits in banks handled by the Corporation. In certain other 

States, such as Missouri, Wisconsin, and North Dakota, disbursements 

by the Corporation were necessary for a comparatively large number 

of banks, but most of these were quite small. Chart C shows the number 

and deposits of insured banks requiring disbursements by the Corporation to protect depositors, with the banks grouped by State.

Banks which have required disbursements by the Corporation are 

grouped by deposit size in Chart D. Most of the 436 banks were of relatively small size, while a few large banks held the bulk of the deposits. 

Such concentration of deposits in a small number of banks is a familiar 

pattern in banking data. When the banks are grouped by class, i.e., 

national, State member of the Federal Reserve System, or State nonmember, the results reflect the typically smaller size of State nonmember 

banks. Thus, while only one in twenty of the banks was a State bank 

belonging to the Federal Reserve System, such banks held one-third of 

the total deposits. More than three-fourths of the number were not 

members of the Federal Reserve System, but these banks held less than 

half of the deposits.

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Federal Reserve Bank of St. Louis
30 FEDERAL DEPOSIT INSURANCE CORPORATION

C h a r t C . N u m b e r a n d D e p o s i t s o f I n s u r e d B a n k s R e q u i r i n g D i s b u r s e m e n t s

b y t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n f o r t h e P r o t e c t i o n

o f D e p o s i t o r s , b y S t a t e , 1934-1958

NUMBER OF BANKS

0

DEPOSITS (MILLIONS OF DOLLARS)

1

ARKANSAS 

GEORGIA 

ILLINOIS 

INDIANA 

IOWA 

KANSAS 

KENTUCKY 

MAINE 

MARYLAND 

MICHIGAN 

MINNESOTA 

MISSOURI 

MONTANA 

NEW JERSEY 

NEW YORK 

3N0RTH CAROLINA I 

NORTH DAKOTA 

OHIO 

OKLAHOMA 

PENNSYLVANIA 

SOUTH DAKOTA 

TENNESSEE 

TEXAS 

VIRGIN IA 

WISCONSIN 

OTHER STATES

30 20 10 0 0 40 80 120 160

NUMBER OF BANKS MILLIONS OF DOLLARS

^Includes 17 States each with fewer than 5 banks requiring disbursements and less than $5 million 

deposits in such bonks. In 6 States and the District of Columbia there were no banks requiring 

disbursements by the Corporation.

40 80 120_____160 200

200

Protection of depositors of failing banks* The 436 insured banks

requiring disbursements by the Corporation had a total of 1,437,700

depositors or deposit accounts.1 For cases occurring during the first 20

years of deposit insurance, 99.8 percent of the depositors received, or

1 Number of deposits in 254 cases; number of deposit accounts in 182 cases for which number of

depositors is not available (see p. 93).

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Federal Reserve Bank of St. Louis
OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— SUMMARY 31

had made available to them, all of their deposits. Most of the remaining

depositors during that period recovered a substantial portion of their

deposits, in the form of payments from the Corporation, or liquidating

dividends, or both. In none of the cases occurring during the past five

years is the liquidation of assets completed, but it is estimated that,

taken together, these will eventually provide as high a degree of depositor

protection.

The amount of deposits repaid or made available has also been high.

In cases occurring during the first 20 years of deposit insurance, 99.7

percent of all deposits were made available, and it is estimated that

the combined recovery by depositors in cases occurring during the most

recent five-year period will about equal that of earlier cases. For all 436

banks the amount of deposits recovered, and the number of depositors

incurring no loss, are shown in Tables 16 and 17, respectively.

Chart D. N u m b e r a n d D e p o s its op In s u r e d B a n k s R e q u ir in g D is b u r s e m e n ts

b y t h e F e d e r a l D e p o s it In s u r a n c e C o r p o r a tio n f o r t h e P r o t e c t io n

o f D e p o s ito r s , B y Size o f B a n k , 1934-1958

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Federal Reserve Bank of St. Louis
32 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 1 7 . T o t a l N u m b e r o f D e p o s ito r s an d N u m b e r t o w hom F u l l R e c o v e r y

w a s A v a ila b le , In s u r e d B a n k s R e q u ir in g D is b u r s e m e n ts b y t h e

F e d e r a l D e p o s it In s u r a n c e C o r p o r a tio n

f o r P r o t e c t io n o f D e p o s ito r s , 1934-1958

Year

All cases: depositors or accounts Deposit payoff cases: depositors Deposit

assumption

cases:

accounts

(all deposits

available to

depositors)

Total

number

W ith full recovery

available1 Total

number

W ith full recovery

available1

Number Percent Number Percent

1934-1958 1,437,700 1,434,832 9 9 .8 % 402,967 400,099 9 9 .3 % 1,034,733

1954-1958 2 46,705 46,608 9 9 .8 % 20,245 20,148 9 9 .5 % 26,460

1958............ 9,568 9,548 99.8 4,361 4,341 99.5 5,207

1957............ 2,339 2,339 100.0 2,339 2,339 100.0

1956............ 15,197 15,159 99.7 5,465 5,427 99.3 9,732

1955............ 17,790 17,751 99.8 8,080 8,041 99.5 9,710

1954............ 1,811 1,811 100.0 1,811

1934-1953 3 1,390,995 1,388,224 9 9 .8 % 382,722 379,951 9 9 .3 % 1,008,273

1953............ 24,469 24,469 100.0 24,469

1952............ 6,752 6,752 100.0 6,752

1951............ 5,276 5,276 100.0 5,276

1950............ 6,366 6,366 100.0 6,366

1949............ 5,671 5,671 100.0 5,671

1948............. 18,540 18,540 100.0 18,540

1947............ 10,637 10,637 100.0 10,637

1946............ 1,383 1,383 100.0 1,383

1945............ 12,483 12,483 100.0 12,483

1944............ 5,487 5,472 99.7 899 884 98.3 4,588

1943............ 27,371 27,345 99.9 16,917 16,891 99.8 10,454

1942............. 60,688 60,682 99.99 5,717 5,711 99.9 54,971

1941............ 73,005 72,984 99.97 38,594 38,573 99.9 34,411

1940............ 256,361 256,309 99.98 20,667 20,615 99.7 235,694

1939............ 392,718 391,947 99.8 90,169 89,398 99.1 302,549

1938............ 203,961 203,246 99.6 44,288 43,573 98.4 159,673

1937............ 130,387 130,228 99.9 74,148 73,989 99.8 56,239

1936............ 89,018 88,594 99.5 43,225 42,801 99.0 45,793

1935............ 44,655 44,417 99.5 32,331 32,093 99.3 12,324

1934............ 15,767 15,423 97.8 15,767 15,423 97.8

1 Based on recoveries from Federal Deposit Insurance Corporation and from receivers. In active

deposit payoff cases data computed after estimation of additional recoveries.

5 All cases for this period are active.

* Data for these years include a few active deposit assumption cases, for which no change in data

is anticipated.

Not all depositor protection in failed banks is attributable to disbursements made by the Federal Deposit Insurance Corporation. For 

example, when a bank is placed in receivership some depositors may be 

paid by means of offsets against their debts to the bank, through special 

security previously pledged by the bank, or from receiver’s dividends 

on uninsured amounts. Nevertheless, the bulk of the payments in such 

cases consists of insurance disbursements.

The extraordinarily high degree of depositor protection in the case 

of insured banks in financial difficulty during the past 25 years has been 

due primarily to the existence of deposit insurance. Losses taken by the 

Corporation would, in the absence of deposit insurance, have fallen on 

depositors. Also, the existence of deposit insurance has made it possible 

to avoid forced-draft liquidation of assets, with the heavy losses which 

normally attend such a process, so that the recovery secured from reDigitized for FRASER 

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Federal Reserve Bank of St. Louis
OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— SUMMARY 33

ceivers’ dividends on any uninsured portion of depositors’ claims undoubtedly was more substantial than could have been secured in the 

absence of deposit insurance.

Federal Deposit Insurance Corporation disbursements and

recoveries.1 Since beginning operation 25 years ago the Federal Deposit 

Insurance Corporation has disbursed a total of $344.5 million to protect 

depositors in the 436 insured banks under study. The largest part of 

this total, or $296.2 million, consisted of amounts paid to depositors of 

closed banks or to distressed banks in order to facilitate the assumption 

of their deposit liabilities by sound insured banks. This portion of total 

disbursements is designated as principal disbursements in this study 

and in the accompanying tables.

In addition to principal disbursements, it is necessary for the Corporation to make certain other expenditures in connection with its insurance 

operations. These consist chiefly of advances to protect assets, such as 

tax payments or building repairs, of liquidation expenses in cases in 

which the Corporation acquires assets to be liquidated, and of field 

payoff expenses in cases in which the depositors are paid directly by 

the Corporation. The total of all such advances and expenses for the 

entire 25 years was $48.3 million.

By the end of 1958 the Corporation had recovered, or estimated that 

it would recover, $315.0 million, leaving an estimated loss of $29.5 

million on its insurance operations in the cases of the 436 banks under 

study. This recovery includes all of the amounts advanced to protect 

assets and to pay liquidation expenses, totaling $47.1 million, plus $267.9 

million on its principal disbursements; it does not include field payoff 

and other insurance expenses, totaling approximately $1.2 million, which 

were absorbed by the Corporation and are included jinjttie loss figure. 

Principal disbursements by the Corporation, along with recoveries and 

estimated additional recoveries, are shown in Table 18.

In addition to recoveries on its principal disbursements the Corporation 

obtains some income in deposit insurance transactions. Such income is 

in the form of interest received on claims against the receivers of closed 

banks, and of interest or a contractual allowable return in cases where 

the deposit liability of a failing bank is assumed by another bank. When 

consideration is given to all kinds of disbursements and all recoveries 

and income, the net loss of funds to the Corporation in any transaction 

or group of transactions may be computed. In the cases of the 436 banks, 

net loss of funds up to the end of 1958 was $20.7 million. As shown in 

Table 19, this was equal to 3.5 percent of the total deposits in the banks 

involved, and to approximately 4.5 percent of the insured deposits.

1 Excludes disbursements made to facilitate termination of liquidations, and certain other insurance

expenses, shown in Table 2 as “ Other disbursements.”

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Federal Reserve Bank of St. Louis
34 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 1 8 . P r in c ip a l D is b u r s e m e n ts an d R e c o v e r ie s b y t h e F e d e r a l D e p o s it

In s u r a n c e C o r p o r a tio n in D e p o s it P a y o f f C a se s a n d D e p o s it

A ssu m p tio n C a se s, 1934-1958

(Amounts in thousands)

Year

All cases

Recovery of

Total A disbursements

disburse- fl

ments

Amount Percent

Deposit payoff cases

Total

disbursements

Recovery of

disbursements

Amount Percent

Deposit assumption cases

Recovery of

Total | disbursements

disburse- |

ments

1 Amount Percent

1934-1958.

1954-19581

1958............

1957............

1956............

1955............

1954............

1934-1953*

1953............

1952............

1951............

1950............

1949............

1948............

1947............

1946............

1945............

1944............

1943............

1942............

1941............

1940............

1939............

1938............

1937............

1936............

1935............

1934............

$296,215

$ 15,124

3,033

1,057

3,336

6,785

913

$281,091

5,017

1,369

1,885

3,986

2,552

2,990

1,724

265

1,768

1,503

7,172

10,825

23,880

74,134

67,770

30,480

19,160

14,781

8,890

941

$267,947

$ 13,941

2,673

1,057

3.017

6,537

657

$254,007

5.017

580

1,882

2,602

2,183

2,349

1,640

265

1,768

1,462

7,048

10,137

23,279

70,281

60,614

28,055

15,610

12,326

6,174

734

90.5%

92.2%

88.1

100.0

90.4

96.3

72.0

90.4%

100.0

42.3

99.9

65.3

85.5

78.6

95.1

100.0

100.0

97.3

98.3

93.6

97.5

94.8

89.4

92.0

81.5

83.4

69.4

78.0

$ 98,139

$ 11,095

2,801

1,057

2,798

4,439

$ 87,044

$ 83,036

$ 10,168

2,442

1,057

2,479

4,191

$ 72,868

8 4.6 %

9 1.6%

87.2

100.0

88.6

94.4

8 3.7%

404

5,500

1,612

12,278

4,895

26,196

9,092

12,045

8,056

6,026

941

363

5,376

1,320

12,065

4,313

20,399

7,908

9,520

6,595

4,274

734

90.0

97.8

81.9

98.3

88.1

77.9

87.0

79.0

81.9

70.9

78.0

$198,075 | $184,911

$ 4,,028

231

3,772

231

538 1 538

2 ,3 4 6 1 2,346

913 1 657

$194,047

5,017

1,3'

1,885 |

3,986

2,552

2,990

1.724

265

1,768

1,099

1,672

9,213

11,602

69,239 1

41,574

21,387 I

7,116

6.725

2,865

$181,139

5,017

580

1,882

2,602

2,183

2,349

1,640

265

1,768

1,099

1,672

8,816

11.215

65,968

40.216

20,147

6,090

5,730

1,900

9 3 .4 %

93 .6 %

100.0

ibo.o ‘ ‘ 

100.0

72.0

9 3.3%

100.0

42.3

99.9

65.3

85.5

78.6

95.1

100.0

100.0 

100.0

100.0

95.7

96.7

95.3

96.7

94.2

85.6

85.2

66.3

N ote: Due to rounding differences, components may not add precisely to the indicated totals.

Percentages computed from unrounded data.

1 All cases for this period are active and data include estimated additional recoveries.

* Data for these years include a few active deposit assumption cases, for which estimation involved

is small.

Insurance operations by type of case. Reference has been made

to the fact that in providing protection for depositors of failing insured

banks the Corporation has acted in two ways: either direct payments

are made to depositors up to the insurance maximum, or all deposits

of the failing bank are assumed by another insured bank, which assumption is made possible by a disbursement by the Corporation. Banks

handled under the first procedure were, for the most part, those which

closed and were placed in receivership by the appropriate chartering

authority. The deposit assumption procedure was used in the cases of

banks which were also in serious financial difficulties, but the merger,

consolidation, or absorption was usually arranged in time to prevent

the suspension of the bank.

During the entire insurance period almost three-fifths of the cases

were handled by deposit payoff and about two-fifths by deposit assumpDigitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 1 9 . R a t i o s o f N e t L o s s o f F u n d s b t t h e F e d e r a l D e p o s i t I n s u r a n c e

C o r p o r a t i o n t o T o t a l a n d I n s u r e d D e p o s i t s , I n s u r e d B a n k s R e q u i r i n g

D i s b u r s e m e n t s f o r P r o t e c t i o n o f D e p o s i t o r s , 1934-1958

(Amounts in thousands)

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—SUMMARY 35

Item All cases 1 Deposit

payoff cases

Deposit

assumption cases

Losses and expenses on insurance operations..

Less: interest and allowable return..................

Net loss of funds by Corporation..........................

$ 29,486

8,836

20,650i

$ 16,147

367

15,780

$ 13,339

8,469

4,870

Total deposits................................................................

Insured deposits............................................................

$592,641

$456,388

$126,114

$ 98,801*

$466,527

$357,587*

Ratio of net loss of funds to:

Total deposits............................................................

Insured deposits........................................................

S .5%

4 .5 %

12.5%

16.0%

1 .0%

1 .4%

Number of banks.......................................................... 436 254 182

1 Net loss of funds on principal disbursements and expenses incurred in the protection of depositors

of 436 suspended or failing banks; does not give effect to $579 thousand net profit and net income on

other insurance transactions.

* Understated by the amount of insured deposits paid by security or preference rather than claimed

against the Corporation.

* Calculated without offsetting of depositors’ indebtedness to banks and without combining accounts

held by depositors.

tion. Despite the smaller number of deposit assumption cases, almost 

80 percent of the deposits of the 436 banks were in those handled under 

that procedure. Most deposit payoff cases occurred during the first 

decade of deposit insurance, and included many of the smaller banks. 

During the ten years from 1944 to 1953 all but one of the cases was a 

deposit assumption case. However, during the five years ending with 

1958 the deposit payoff technique has again been used more frequently, 

accounting for nine of the 14 cases. Distributions of the 436 banks and 

their deposits, by type of case, are included in Tables 15 and 16.

When there is an assumption of the deposits of a failing bank by a 

sound insured bank, an incidental effect is that depositors of the failing 

bank receive full recovery of their deposits, regardless of amount. Contrariwise, when a bank is placed in receivership with depositors paid 

by the Corporation, such payments are made only up to the insurance 

maximum, with recovery on balances in excess of that maximum dependent upon dividends from the receiver. Although this might suggest 

initially that depositors of banks included in the payoff category may not 

have fared as well, in actual fact the record of protection for the latter 

has been exceptionally good. As can be seen from Tables 16 and 17, only 

seven-tenths of one percent of the depositors in banks handled through 

the deposit payoff procedure failed to recover all their deposits, and 

their lost deposits comprised only one and one-half percent of all deposits 

in banks handled by this method.1

Disbursements by the Corporation have been about 40 percent of 

the amount of deposits in banks with deposits assumed, but almost 80

1 Includes estimated recovery of deposits in active cases.

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Federal Reserve Bank of St. Louis
36 FEDERAL DEPOSIT INSURANCE CORPORATION

percent of the amount of deposits in deposit payoff cases. This was true 

because most of the deposits in the latter cases were paid by the Corporation, whereas in assumption cases the disbursement of the Corporation 

is equal only to the difference between the deposit liabilities assumed 

and the value of the assets acquired by the assuming bank. Nevertheless, 

the larger average size of banks comprising the deposit assumption cases 

is reflected in the fact that these cases required about two-thirds, and 

deposit payoff cases only one-third, of total principal disbursements. 

Chart E shows deposits in the 436 banks and Corporation disbursements 

and recoveries, by type of case.

Chart E. D e p o s i t s o f I n s u r e d B a n k s R e q u i r i n g D is b u r s e m e n t s f o r t h e

P r o t e c t i o n o f D e p o s i t o r s , a n d P r i n c i p a l D is b u r s e m e n t s a n d R e c o v e r i e s

o f t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n in S u c h C a s e s ,

B y T y p e o f C a s e , 1934-1958

DEPOSIT PAYOFF CASES

DEPOSITS

DISBURSEMENTS 

RECOVERIES

DEPOSIT ASSUMPTION CASES

DEPOSITS

DISBURSEMENTS 

RECOVERIES

200 300

MILLIONS OF DOLLARS

400 500

400 500

MILLIONS OF DOLLARS

The amount of disbursement made is not a measure of the cost to the 

Corporation, as the degree of recovery on disbursements varies from 

case to case. For a given bank in any but the most unusual circumstances, 

the disbursement under the deposit payoff procedure would exceed that 

under the assumption procedure for the reasons given above, but the 

dollar amount recovered would also be larger, since under the former 

procedure the Corporation would receive subrogated depositors’ claims 

for most of the proceeds of liquidation. On the other hand, if the bank’s 

deposits were assumed by another bank, the smaller disbursement would 

be matched by a smaller recovery, since the Corporation would recover 

only through collections from liquidation of assets, mostly low quality, 

not transferred to the assuming bank. Thus for a given bank, with given 

asset conditions, the ultimate cost to the Corporation might be greater

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OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— SUMMARY 37

or less with a deposit payoff than with a deposit assumption, depending 

upon such matters as the amount of deposits which were uninsured and 

the expenses involved in paying off depositors and liquidating assets.

Whether a deposit payoff or assumption case, the degree of recovery 

by the Corporation depends primarily upon the condition of the bank’s 

assets. In general, the deposit payoff cases have involved banks with 

poorer asset conditions than the deposit assumption cases. The Corporation’s recoveries on its principal disbursements amounted to 84.6 percent 

in deposit payoff cases and to 93.4 percent in deposit assumption cases. 

Also, the ratio of net loss of funds to deposits, as shown in Table 19, is 

markedly higher for deposit payoff cases than for assumption cases.

D e p o s it Pa y o f f C a s e s

The Federal Deposit Insurance Corporation paid the insured deposits 

of 254 insured banks closed because of financial difficulty between 1934 

and 1958. Detailed statistics on 245 individual cases through 1953, all 

of wThich have been terminated, are given in Tables 22 to 28. The following 

discussion of legal provisions and Corporation procedures will assist 

the reader in understanding those tables.

Corporation procedure in deposit payoff cases. In the Banking 

Act of 1933 the Federal Deposit Insurance Corporation was required to 

organize a new national bank to assume the insured deposit liabilities 

of a bank closed because of inability to meet the demands of its depositors. 

The new bank was not required to have capital stock or a board of directors, and was to be managed by an executive officer appointed by 

the Board of Directors of the Corporation. With the approval of the 

Corporation, the bank could accept new deposits. Funds of the new 

bank were to be held in cash, invested in direct obligations of the United 

States Government, or deposited with the Corporation or with a Federal 

Reserve bank. When in the judgment of the Corporation it was desirable 

to do so, the Corporation could offer capital stock of the new bank for sale. 

Upon sale of the required amount of capital stock the bank would be 

chartered as an ordinary national banking association. If no such action 

were taken within two years of the date of organization of the new bank, 

its affairs were to be terminated.

Twenty-four insured banks were placed in receivership and their 

depositors paid by the Corporation during the period of the temporary 

insurance plan, January 1, 1934, to August 23, 1935. In each of these 

cases the new national bank served only as the agency of the Corporation 

for paying the insured deposits of the closed bank. None was authorized 

to accept new deposits, nor was any subsequently capitalized.

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38 FEDERAL DEPOSIT INSURANCE CORPORATION

The Banking Act of 1935, which became effective on August 23 of 

that year, provided alternative methods for payment of insured deposits 

of closed banks. In addition to authority to pay depositors through a 

new national bank, the Corporation could also make deposits available 

in another insured bank or “in such other manner as the board of directors 

may prescribe” . Additional flexibility was provided by the Federal 

Deposit Insurance Act of 1950, which authorized payment through a 

new or other insured bank, or “ by cash” .

The only case in which the power to make payments through a new 

bank was exercised subsequent to the Banking Act of 1935 was that of 

the first bank to close following the Act.1 This was also the only case in 

which the new bank was authorized to accept new deposits. It was 

subsequently capitalized and continued operation as a regular national 

bank. In four cases of closed banks insured deposits were made available 

by transfer to other previously operating insured banks.2 In the remaining 

225 deposit payoff cases depositors were paid directly by claim agents 

of the Corporation.

Insurance coverage in deposit payoff cases. The temporary insurance plan embodied in the Banking Act of 1933 provided for protection up to $2,500 for each depositor. This was increased to $5,000 

effective July 1, 1934, by an amendment approved June 16, 1934. The 

$5,000 maximum was continued by the Banking Act of 1935, effective 

August 23 of that year, and thereafter remained unchanged until increased to $10,000 in 1950.

Only one insured bank was placed in receivership while deposit insurance coverage was limited to $2,500. It was suspended May 28, 1934. 

Another insured bank had gone on a restricted basis in April, but its 

receiver was not appointed until July 18. The Corporation held that the 

bank had suspended after July 1 and allowed the depositors the $5,000 

maximum protection. Thus in 244 of the 245 deposit payoff cases prior 

to 1950 depositors were protected up to the $5,000 limit, while in the 

nine cases occurring since that year maximum protection for each depositor has been $10,000.

Under the original statutory provisions contained in the Banking 

Act of 1933, only deposits “ made available since March 10, 1933, for 

withdrawal in the usual course of the banking business” were eligible 

for insurance. Deposits which were deferred or restricted in connection 

with reorganization or stabilization plans were by this provision excluded 

from insurance protection. Such restricted deposits were found in eight 

of the banks paid off.

1 Deposit payoff case number 25.

* Deposit payoff case numbers 10 9 ,1 1 0 ,2 3 4 , and 249. Such transfers constitute a method of payment

and should not be confused with the procedures followed in deposit assumption cases, to be described

below, pp. 86-90.

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The law provides that after the termination of the insured status of 

any bank, the insured deposits of each depositor in the bank on the date 

of such termination, less all subsequent withdrawals by the depositor, 

shall continue to be insured for a period of two years. Only one case has 

occurred in which the bank failed after this provision of law was applied. 

This bank suspended in 1938, four months after termination of its insured 

status.1 Deposits in this bank which were insured as of the date of termination of its insured status, less any withdrawals subsequent to that 

date, were paid by the Corporation.

Method of payment of insured deposits. Upon notification of the 

suspension of an insured bank the Corporation sends its claim agents to 

the bank to make preparations for payment of insured deposits. All 

deposit accounts found on the records of the closed bank are analyzed 

in such manner as to bring all items from various classes of accounts into 

one total maintained by each depositor in the same right and capacity. 

From this total, any debts owed by the depositor to the closed bank are 

deducted and this net amount is paid to the depositor up to the maximum 

provided by law.

In each of the 25 cases where payment was made through a Deposit 

Insurance National Bank, the Corporation made available to the new 

bank amounts sufficient to pay the insured deposits of the closed bank 

and to cover its operating expenses. Orders were drawn upon the new 

bank by the claim agent of the Corporation for the net amount of each 

insured deposit claimed. These orders were non-negotiable, and upon 

presentation to the new bank were paid in cash or by a draft on a Federal 

Reserve bank. When the Board of Directors of the Federal Deposit 

Insurance Corporation terminated the affairs of a Deposit Insurance 

National Bank, any remaining funds were returned to the Corporation, 

as required by law, and the Corporation assumed liability for any drafts 

upon the bank which remained outstanding.

In the four cases in which insured deposits were made available in a 

previously operating insured bank, acceptance by the depositor of the 

deposit in the operating bank, or its withdrawal from that bank, constituted payment of the insured deposit. Equivalent amounts were paid 

by the Corporation to the operating banks to which these deposit liabilities 

were transferred.

In all deposit payoff cases other than the 29 where payment was made 

through a Deposit Insurance National Bank or another insured bank, 

depositors were paid directly by the claim agents of the Corporation, by 

check on a Federal Reserve bank. In all 254 cases the depositor, upon

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—PAYOFF CASES 39

1 Deposit payoff c*se number 162.

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40 FEDERAL DEPOSIT INSURANCE CORPORATION

receiving payment, assigned all or a portion of his claim against the 

receivership to the Corporation.*

The Banking Act of 1933 placed no limit upon the time allowed for 

filing of claims for insured deposits with the Corporation. Under the 

provisions of the Act of 1935, which were continued in the Federal 

Deposit Insurance Act of 1950, depositors have 18 months from the 

date of appointment of the receiver in which to file their claims for insured 

deposits. Notices are mailed to all depositors at their last known address 

at the beginning of payoff operations. The Corporation’s claim agents, 

while they are still at the banks, make every effort to have claims filed 

by all insured depositors. After field payoff operations are terminated, 

the receiver forwards to Washington for payment any claim which may 

thereafter be filed. Three months prior to the expiration of the 18-month 

period a notice is sent from the Washington office to all depositors who 

have not filed claims, requesting them to do so.

Depositors failing to file insured deposit claims with the Corporation 

can nevertheless seek recovery through common claims against bank 

receivers. The period within which such claims can be filed differs in the 

various jurisdictions. In national bank receiverships, claims may be 

filed up to the time of termination of the receivership, dividends onfall 

unfiled claims are held by the receiver until the final dividend. These 

amounts then become available to augment the final dividends to those 

who did file claims. In State bank receiverships, some States set a specific 

time limit for filing of claims. In other States there is no time limit, and 

dividends on unfiled claims are placed in trust or escheat to the State 

upon termination of the receivership.

Claims o f the Corporation against receivers. The Banking Act 

of 1933 provided that upon payment of the insured deposits of a closed 

bank the Corporation be subrogated to all rights against the closed bank 

of the owners of such deposits. The Corporation was entitled to receive 

the dividends which would have been payable to each depositor, including 

dividends applicable to the uninsured portions of deposits, until the 

Corporation’s recovery equaled the insuredjieposit paid by it, whereupon 

further dividends were payable to the depositor. These provisions applied 

in the receiverships of the 24 banks which closed while the temporary 

deposit insurance plan was in effect.

The Banking Act of 1935 provided that the Corporation be subrogated 

to all rights of the depositor against the closed bank, but only to the 

extent of its payment to the depositor. The depositor retained his right 

to receive all dividends on the uninsured portion of his deposit. Thus 

in the 230 deposit payoff cases since the effective date of the 1935 Act,

i See below, pp. 40-41, for a discussion of subrogated depositors* claims.

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depositors owning deposits in excess of the insured maximum received 

all dividends on the uninsured portions of their deposits.

Among the rights of depositors to which the Corporation is subrogated 

upon payment of insured deposits is the right to collect interest upon 

amounts due. This interest is calculated at the legal rate in the various 

States and accrues during the period between closing of the bank and 

payment of dividends by the receiver. It is payable only in the event 

there are funds in the receivership in excess of the amounts required to 

pay claims in full and receivership expenses.

Expenses incurred in paying off insured depositors of suspended banks 

/are borne by the Corporation. These costs include salaries and expenses 

of claim agents sent to the banks, salaries of local temporary help, rental 

of equipment, and telegraph and telephone charges. ^

Prior to May 25, 1938, the Corporation received the same dividends 

from the proceeds of recoveries on account of stockholders’ liability, 

where such existed, as would have been payable to the depositor on a 

claim for his deposit. However, under provisions of an Act of Congress, 

approved May 25, 1938, and retained in the Federal Deposit Insurance 

Act of 1950, the Corporation waived any claim on account of stockholders’ 

liability which it might have with respect to any bank closed after May 

25, 1938. This waiver is for the benefit only of stockholders, and must 

be effected in such manner as will not increase payments on claims to 

which the Corporation is not subrogated.

Stock assessments were collected in 75 of the 151 deposit payoff cases 

prior to May 25, 1938. Such assessments collected by receivers amounted 

to $1.2 million, representing five percent of total collections by the 

receivers of $24.4 million in those cases.

As principal creditor by reason of its subrogation rights, the Corporation maintains close contact with the receivers of suspended insured banks in those cases in which the Corporation itself is not appointed receiver, and assists as much as possible in the prompt and 

efficient liquidation of these banks. The Corporation requests and is 

furnished by State receivers quarterly reports on the progress of their 

receiverships. The statistics in this study have been obtained in part 

from such reports.

The Federal Deposit Insurance Corporation as receiver. Deposit 

insurance has altered the administration of bank receiverships, particularly by substituting the Federal Deposit Insurance Corporation 

as a single claimant for a large number of depositors whose accounts it 

has,, paid as insured. Appointment of the Corporation itself as receiver 

therefore simplifies procedure and eliminates duplication of records. 

Responsibility for liquidation is placed upon the largest creditor, whose

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—PAYOFF CASES 41

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42 FEDERAL DEPOSIT INSURANCE CORPORATION

interest is to obtain the maximum recovery consistent, as the law requires, 

with the credit needs of the community.

The Corporation must by law be appointed receiver of all closed 

national banks. It may be appointed receiver of insured State banks 

in most States, and in some States its appointment is mandatory. Other 

States make no provision for the appointment of the Corporation as 

receiver. The powers and rights of the Corporation when designated 

as receiver are governed by the laws prevailing in the respective jurisdiction.

The Corporation has acted, or is acting, as receiver in 84 of the 254 

deposit payoff cases. Twenty-four of the 84 were national banks, and 

60 were State banks.

Titles and locations o f banks. The locations and names of all 

insured banks placed in receivership with deposits paid by the Corporation, and the last dates of bank operation, are given in Table 22. 

This table also provides information as to class of bank, character of 

receivership, and the case numbers by which the banks are identified 

in succeeding tables.

Assets, liabilities, and claims. Table 23 shows for each bank the 

amounts of assets and liabilities, and of claims allowed and paid by the 

receiver. The assets figure is that shown on the books of the bank as of 

the date of suspension, adjusted for spurious assets and bookkeeping 

errors. It thus excludes charged-off and other non-book assets. Deposits 

are shown after adjustments.

The data for liabilities other than deposits are also adjusted to include 

liabilities not shown on the books of the bank because of defalcation or 

other reasons. Total liabilities exceeded claims allowed because some 

claims were not filed and some, although” corresponding to liabilities on 

the books of the banks, were not allowed by receivers because ultimately 

they were shown to be spurious.

For all cases combined there was recovery or estimated recovery on 

common claims of 84.1 percent; and upon all claims, including those 

secured and preferred, of 87.3 percent. Dividends of 100 percent were 

paid in 90 of the 245 terminated receiverships, and in another 36 cases 

dividends were 90 percent to 99.9 percent. In only nineteen cases were 

dividends less than 50 percent. For the nine active cases taken together 

it is estimated that dividends will exceed 90 percent.

Number o f depositors in deposit payoff cases. Table 24 provides 

statistics on the number of depositors fully protected by offsetting debts, 

security, preference, or deposit insurance, including estimates for active 

cases. It also shows the number of those who were not thus fully protected

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but to whom full payment of deposits was available through dividends 

on common claims. Of the total number of depositors, 98.6 percent were 

fully protected by offset, security, preference, or insurance. If receivers’ 

dividends and estimated dividends are taken into account, full recovery 

was available to 99.3 percent of the depositors.

Most of the depositors whose claims were offset in full would have 

been protected by insurance had they not had liabilities to the banks 

offsetting their deposits. Insured deposits for which no claim was made 

were mostly under a dollar, and a great many of these were for only a 

few cents.

The 303,415 depositors shown as fully insured and paid by the Federal 

Deposit Insurance Corporation do not represent the total number of 

claims paid by the Corporation. Claims and payments for the insured 

portions of their accounts were made in the case of 2,247 depositors 

having deposits in excess of the insurance maximum. In addition, the 

Corporation paid 1,361 active accounts of depositors also owning restricted deposits, and a portion of the deposits of 80 depositors, paid 

partially from the proceeds of security or by preference.

There were restricted deposits in eight of the banks paid off, and in 

one case there were deposits which were uninsured due to termination 

of the insured status of the bank. Of the 3,403 depositors having such 

deposits not subject to offset, 2,137 were in banks whose receivers paid 

dividends of 100 percent.

Amount o f deposits protected and paid. Table 25 shows for each 

deposit payoff case the amount of deposits protected by offset, security, 

preference, or insurance; the amount of deposits unprotected; and the 

amount of dividends paid by the receivers on deposits not assigned to 

the Federal Deposit Insurance Corporation. Included in these data are 

estimates for active cases.

Of the total amount of deposits 90 percent was protected, or estimated 

to be protected, by offset, security, preference, or insurance. A substantial 

portion of the remaining 10 percent was paid by receivers’ dividends. 

Only $2.1 million, or 1.6 percent was unpaid to depositors, and a portion 

of this, amounting to $178,000, was available but unclaimed.

In the absence of deposit insurance at least an additional $15.1 million 

would have been lost by depositors. This was the amount of the Federal 

Deposit Insurance Corporation’s claims which were not paid and, if 

borne by depositors, would have increased their losses from 1.6 percent 

to 13.6 percent of total deposits. Actually, depositor losses would have 

been still greater, since the loss incurred by the Corporation was small 

only because its existence made possible orderly liquidation, with maximum recovery. Had it been necessary to liquidate these same assets

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—PAYOFF CASES 43

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44 FEDERAL DEPOSIT INSURANCE CORPORATION

under the pressure of providing funds for the immediate payment of 

depositors—which would have been the case in the absence of insurance 

payments—the resulting losses would have been much higher.

Disbursements and recoveries o f the Federal Deposit Insurance

Corporation. Table 26 presents the amounts paid by the Corporation 

to depositors in each deposit payoff case; recoveries made by the Corporation from subrogated claims in such cases, interest paid to the Corporation by receivers in certain cases in which dividends of 100 percent were 

paid on all claims, and expenses of the Corporation in paying insured 

deposits.

In 92 of the 254 deposit payoff cases the Corporation recovered, or 

estimates that it will recover, the full amount of its principal disbursed 

in payment of insured deposits, and in 59 of these cases it has received 

some interest on its claims against the receiverships. Table 20 presents 

a distribution of receivership cases according to percentage recovery 

by the Corporation of its principal disbursements.

T a b le 2 0 . D is t r ib u t io n o f D e p o s it P a y o f f C a se s b y P e r c e n t a g e R e c o v e r y

o f t h e C o r p o r a tio n ’s P r in c ip a l D is b u r s e m e n ts

Percentage recovery 1 Number of cases Percent of cases

84.6 percent (average 2) ............................................................ 254 1 0 0 .0 %

10 0 .0 percent..................................................................................... 92 36.2

90 to 99.9 percent........................................................................... 40 15.7

80 to 89.9 percent........................................................................... 44 17.3

70 to 79.9 percent........................................................................... 31 1 2 . 2

60 to 69.9 percent........................................................................... 23 9.0

50 to 59.9 percent........................................................................... 6 2.4

40 to 49.9 percent........................................................................... 4 1.6

30 to 39.9 percent........................................................................... 5 2 .0

20 to 29.9 percent........................................................................... 4 1 .6

10 to 19.9 percent........................................................................... 4 1 .6

0 to 9.9 percent.............................................................................. 1 0.4

1 Includes estimated additional recoveries in active cases.

a Total recoveries as percentage of total principal disbursements in all cases.

The percentage recovery to the Federal Deposit Insurance Corporation 

was larger in some cases than the percentage recovery on common 

claims as given in Table 23. There are two reasons for this. In the first 

24 deposit payoff cases the Corporation received all dividends on a deposit 

which exceeded the insurance maximum, until it had recovered the full 

amount of its payment. Second, the Corporation paid and had assigned 

to it some claims that were preferred, and thereby was entitled to full 

recovery on such claims before payment of any dividends on common 

claims.

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Expenses incurred by the Corporation in paying insured deposits are 

borne by the Corporation. These expenses for all deposit payoff cases 

amounted to 1.1 percent of the deposits paid by the Corporation, and 

were equal to 6.9 percent of the principal loss to the Corporation on such 

payments.

Investments and recoveries of the Reconstruction Finance

Corporation and owners of other capital. Table 26 also shows the 

total investment of the Reconstruction Finance Corporation in deposit 

payoff cases, and the estimated recovery on this investment. The Reconstruction Finance Corporation had a capital investment in 164 of 

the 254 deposit payoff cases, consisting of preferred stock, debentures, 

or capital notes. It had made secured loans to 15 of the banks, in 8 of 

which it also had a capital investment. Reconstruction Finance Corporation capital is shown in the table at its redemption value, which in 

some instances was in excess of its par value.1

Only one secured loan by the Reconstruction Finance Corporation 

was not paid in full, and the loss on it was $7,110.2 The significant losses, 

totaling over $5 million, were on capital investments by the Reconstruction Finance Corporation. The loss figures in those cases where there 

was some recovery are estimates based upon the amount of cash and 

the appraised value of assets remaining after full payment of common 

claims. In a few cases the Reconstruction Finance Corporation received 

small payments even though common claims were not paid in full. Such 

payments came from collections on assets which had been segregated 

for the benefit of the Reconstruction Finance Corporation. The Reconstruction Finance Corporation made some recovery on its capital investment in 61 out of the 164 cases in which it had such an investment; 

in 18 of these cases it secured full recovery. In a number of cases there 

would have been no recovery had it not been for assessments collected 

from common stockholders. The Reconstruction Finance Corporation 

also received some accrued interest or dividends in certain cases. These 

are not shown on Table 26.

The figures given in Table 26 for capital owned by others than the 

Reconstruction Finance Corporation are not necessarily the figures 

shown by the books of the bank at date of closing. They include the 

redemption values of privately owned debentures and preferred stocks, 

which was not always the amount shown on the books. They also include 

Certificates of Beneficial Interest not shown on the books. The par 

value of the common stock outstanding is included in Table 26, although 

in some cases the amount shown on the books was less, and in a few cases 

no common stock whatever was included in the banks’ balance sheets.

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 45

1 For par value see Table 122 of this report, or for individual bank data the references to previous

Annual Reports in notes to that table.

3 Deposit payoff case number 13.

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46 FEDERAL DEPOSIT INSURANCE CORPORATION

There was some recovery on privately owned capital in 37 cases. However, 

in some of these cases such recoveries were less than the amount of 

assessments paid by stockholders under the double liability provisions 

which were then applicable. In only 31 cases was there an actual recovery 

by holders of privately owned capital.

Collections and disbursements of receivers. Table 27 gives total 

collections and disbursements of receivers, and a breakdown of each by 

kind, for each deposit payoff case. Data in this table are as of December 

31, 1958, with no attempt to provide estimates to the termination of 

receiverships as was the case in most other tables. Receivership expenses 

averaged 5.8 percent of total collections, but varied considerably from 

case to case. The principal factor governing this variation was the size of 

the liquidation involved, as is illustrated by Table 21. In general, the 

larger the liquidation the smaller was the percentage of expenses to total 

collections.

Table 21, D i s t r i b u t i o n o p D e p o s i t P a y o f f C a s e s b y R a t i o o f R e c e i v e r s h i p

E x p e n s e s t o C o l l e c t io n s

b a n k s g r o u p e d b y a m o u n t o f d e p o s it s

Banks with deposits (in thousands of dollars) of—

Ratio All

banks

10 0 | or less

10 0

to

250

250

to

500

500

to

1,0 0 0

1,0 0 0

to

2 ,0 0 0

2 ,0 0 0

to

5,000

5.000

to

10 .0 0 0

10 ,0 0 0

to

25,000

T o ta l1 ................. 254 83 86 36 28 1 1 8 2

Less than 2 % ..

2 to 3 .9 % ..

4 to 5 .9 % ..

6 to 7 .9 % ..

8 to 9 .9 % ..

10 to 1 1 .9 % ..

12 to 1 3 .9 % ..

14 to 1 5 .9 % ..

16 to 1 7 .9 % ..

18 to 1 9 .9 % ..

20 to 2 1 .9 % ..

22 to 2 3 .9 % ..

2 4 % or m ore..

Average ratio*

5 1 1 2 1

34 5 6 6 9 3 4 1

41 8 1 2 6 1 1 2 1 1

39 6 14 1 0 4 2 3

38 1 1 19 5 3

27 10 1 0 3 1 3

2 0 6 1 1 3

1 2 10 2

9 5 3 1

9 5 4

5 3 2

2 2

13

1 1 2

5 .8 % 12.7% 9 .5 % 6 .8 % 5 .4 % 6 .3 % 4 .7 % 3 .8 %

1 Includes nine cases for which receiverships were still active on December 81, 1958.

2 Total expenses to total collections of the banks in each group.

Amounts collected by receivers from the liquidation of the

various types of assets. The aggregate book values of various types of 

assets in 244 deposit payoff cases in which receiverships have been 

terminated, and aggregate collections on these assets, are shown in 

Table 28. The percentages of collections to book values are also shown.

Collections on loans and discounts amounted to 71 percent for all 

244 cases. Since loans and discounts comprised roughly one-half of all

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Federal Reserve Bank of St. Louis
OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—PAYOFF CASES 47

assets in the banks concerned, losses on this asset category exceeded all 

others, even though, percentage-wise, collections were considerably less 

for several other types of assets. For example, only 25 percent was 

recovered on the book value of furniture and fixtures, 32 percent on 

banking house, and 50 percent on other real estate.

Aggregate collections on United States Government securities exceeded 

the total book value of such securities. Recoveries were also high on other 

securities held by the banks, amounting to approximately 86 percent 

of their book value. Recoveries on cash and amounts due from banks 

were slightly less than 100 percent due to the fact that in several instances the banks concerned held balances with other suspended banks.

Improvement in general economic conditions between 1934 and 1951, 

the year in which the last receivership was terminated, is evident from 

the data in Table 28. Collections on assets of insured banks suspended 

during 1934, excluding assets not on the banks’ books, were only 68 

percent. For banks placed in receivership during the following six years 

collections ranged between 69 percent and 77 percent of book assets. 

However, in the case of those placed in receivership after 1940 collections 

approached or exceeded 90 percent of the book values of assets.

Increasingly better recovery ratios are also evident for various types 

of assets. For example, collections on furniture and fixtures were as low 

as 4 percent of book value for cases occurring during 1934, and during the 

subsequent years of the 1930’s and in 1940 never exceeded 36 percent. 

For cases after 1940, collections on this type of asset, as well as on most 

other types, improved substantially.

Nonbook assets, also shown in Table 28, consisted primarily of chargedoff assets, other unrecorded assets, and surety bonds in defalcation cases. 

They were carried at zero on the books of the respective banks, but were 

assigned a value by the receiver. Collections on nonbook assets amounted 

to 40 percent of the receivers’ assigned value for all 244 cases, and for 

individual years ranged from a low of 26 percent in 1939 to a high of 

99 percent in 1944.

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 22. C a s e N u m b e r s, L o c a tio n s , B a n k T i t l e s , and R e la t e d In fo r m a tio n , D e p o s it P a y o f f C a se s, 1934-1958

Case

number

Year of receivership

and location

Title of bank Class of

bank1

Receiver3

Last date of regular

banking operations

1

1934

Illinois: East Peoria Fon Du Lac State Bank N M S M ay 28, 1934

2 Pennsylvania: Pittsburgh Bank of America Trust Company N M S April 19, 1934

3 Montana: Lima The First National Bank of Lima N F July 18, 1934

4 Indiana: Florence Florence Deposit Bank N M S July 18, 1934

5 Kentucky: Lewisport Bank of Lewisport N M S August 6, 1934

6 Wisconsin: Porterfield Farmers & Traders Bank N M s October 11, 1934

7 Georgia: Jasper Pickens County Bank N M s October 13, 1934

8 Wisconsin: Sauk City State Bank N M s November 16, 1934

9 Minnesota: Bongards Farmers State Bank of Bongards N M S September 13, 1934

1 0

1935

New Jersey: Grantwood ^ Cliffside Park Title Guaranty & Trust Company N M S January 3, 1935

1 1 ' Virginia: Herndon-' _- The National Bank of Herndon N F January 9, 1935

1 2 ' South Carolina: Lake City Palmetto State Bank N M S March 9, 1935

1 3 ' Oklahoma: Cheyenne First State Bank N M F March 25, 1935

14 ' Oklahoma: C linton -' Guaranty State Bank N M F April 4, 1935

15 . Kansas: M ilford^ The State Bank of Milford N M S April 10, 1935

1 6 / Georgia: Royston Farmers Bank N M S M ay 2, 1935

17 ' Kansas: Agra ~- First State Bank of Agra N M S M ay 3, 1935

18 Missouri: Blue Springs ^ Blue Springs State Bank N M S June 1 , 1935

19 ' Wisconsin: West Milwaukee Anchor State Bank N M S June 4, 1985

2 0 y Wisconsin: Suamico ^ State Bank of Suamico N M S June 24, 1935

2 1 ' Georgia: Grantville^ Bank of Grantville N M S July 20, 1935

2 2 ' Georgia: Marietta

Ohio: Sardinia

Merchants & Farmers Bank N M S July 22, 1935

23 ' The Farmers National Bank of Sardinia N F July 24, 1935

24 Nebraska: Pender' ^ The First National Bank of Pender N F June 29, 1935

25 ' Pennsylvania: Bradford The Commercial National Bank of Bradford N F September 28, 1935

26 ' Texas: Buna -• Buna State Bank N M S October 23, 1935

27 ' Texas: Presidio Presidio Valley Bank N M s November 18, 1935

28 ' Michigan: Lennon ^ Lennon State Bank N M s November 26, 1935

29 Wisconsin: Linden ^ Bank of Linden N M s November 27, 1935

30 . Missouri: Keytesville Farmers Bank of Chariton County N M s December 5, 1935

31 Wisconsin: Friendship * Friendship State Bank N M s December 7, 1935

32 ' New Jersey: Livingston Livingston State Bank N M s December 14, 1935

33 7 Kentucky: West Louisville Farmers Bank N M s December 16, 1935

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
34

35

36

37

38

39

40

41

42

43

/

44

45

s

46

/

47

/

48

/

49

s

50

s

51

f

52 '

53

s

54

55

56

57

58

59

60

/

61

s

62

63

/

64

V

65

66

67

68

69

70

71

72

73

74

/

77

J

75

76

78

79

80

81

82

83

84

85

86

1936

Tennessee: Erwin "

Texas: Sherman

Missouri: Cole Camp

Mississippi: Starkville ^

Indiana: Columbia City

Missouri: High Hill

Missouri: Leonard *■'"

Tennessee: Adams ^

Kentucky: Franklinton

Missouri: Linn "

Texas: Benjamin **'

South Dakota: Amherst "

Indiana: Earl Park

Tennessee: Clifton "

Iowa: Leland - ^

Mississippi: Holcomb ^

Tennessee: Cross Plains

Kentucky: Hardin -- .

South Dakota: Revillo

Texas: Miles ^

Missouri: St. Joseph

Missouri: Ford City ✓ ^

Missouri: New Truxton

Louisiana: W est Monroe

Indiana: Holton

Missouri: Smithton

Missouri: Ozark ^

Kansas: Densmore ^

New Jersey: Newark

Connecticut: East Hampton

Missouri: Magnolia -

Indiana: Cumberland''

Missouri: Stanberry'

Missouri: Wellsville-"

Missouri: Tindall " ^

Louisiana: Mansfield

Ohio: Uhrichsville ^ <-

Indiana: Crothersville

Indiana: Palmyra ^

Indiana: Scottsburg ^ ^

North Dakota: Lignite s

South Dakota: Centerville

1937

North Dakota: Noonan ^

North Dakota: Sterling

South Dakota: Houghton ^

Missouri: Trenton -

South Dakota: Corsica "

South Dakota: Akaska '

South Dakota: Lebanon *-

Texas: Corpus Christi -

Texas: Arlington -

Illinois: Rio -s

Missouri: Eureka

Citizens Bank of Erwin

Central State Bank

Peoples Bank

Merchants and Farmers Bank

Columbia State Bank

The Bank of High Hill

Farmers Bank of Leonard

Farmers & Merchants Bank

Peoples Bank

Farmers and Merchants Bank of Linn

Benjamin State Bank

Farmers State Bank

The Earl Park State Bank

Clifton State Bank

Leland Cooperative Bank

Bank of Holcomb

Cross Plains Bank

Hardin Bank

Farmers & Merchants Bank

Guaranty Bond State Bank

Growers Exchange Bank

Ford City State Bank

Farmers Bank of New Truxton

West Monroe State Bank

Holton State Bank

Community Bank

The Christian County Bank

Farmers State Bank

D ’Auria Bank & Trust Company

The East Hampton Bank & Trust Co.

Bank of Magnolia

Cumberland Bank

Commercial Bank of Stanberry

The Wellsville Bank

Farmers State Bank

DeSoto Bank and Trust Company

The Union Bank

The Union State Bank

Citizens State Bank

Scottsburg State Bank

The First State Bank of Lignite

The First National Bank of Centerville

First International Bank

Sterling State Bank

Bank of Houghton

Farmers Bank of Trenton

Farmers State Bank

Akaska State Bank

The Citizens State Bank of Lebanon

Texas State Bank and Trust Company

First State Bank

Rio State Bank

Bank of Eureka

N M

S January 10, 1936

N M

S December 31, 1935

N M

S February 5, 1936

N M

F February 17, 1936

N M

S February 18, 1936

N M

S February 20, 1936

N M

S February 27, 1936

N M

S February 29, 1936

N M

S March 2, 1936

N M

S March 5, 1936

N M

S March 18, 1936

N M F* March 18, 1936

N M

S March 28, 1936

N M

S March 27, 1936

N M

S March 31, 1936

N M

F March 31, 1936

N M

S April 10, 1936

N M

S April 18, 1936

N M F3 April 21, 1936

N M

S April 23, 1936

N M

S M ay 9, 1936

N M

S M ay 13, 1936

N M

S M ay 14, 1936

N M

F M ay 23, 1936

N M

S M ay 28, 1936

N M

S June 5, 1936

N M

S June 5, 1936

N M

s July 10, 1936

N M

s July 15, 1936

N M

s July 16, 1936

N M

s August 14, 1936

N M

s August 14, 1936

N M

s August 31, 1936

N M

s September 12, 1936

N M

s September 17,1936

N M F October 9, 1936

N M

F October 27, 1936

N M

s December 7, 1936

N M

s December 5, 1936

N M

S December 5, 1936

N M F December 12, 1936

N F December 18, 1936

N M

F April 3, 1937

N M

F November 30, 1937

N M F January 12, 1937

N M S February 10, 1937

N M F February 18, 1937

N M F February 18, 1937

N M

F February 20, 1937

N M

S April 

8, 1937

N M

S April 12, 1937

N M

s March 26, 1937

N M

s April 23, 1937

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 49

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Ox

©

Table 22. C a s e N u m b e r s , L o c a t i o n s , B a n k T i t l e s , a n d R e l a t e d I n f o r m a t i o n , D e p o s i t P a y o f f C a s e s , 1934-1958— Continued

Case

number

87

88

89

90

91

92

93

94

95

96

97

98

99

10 0 

1 0 1 

1 0 2

103

104

105

106

107

108

109

1 1 0 

1 1 1 

1 1 2

113

114

115

116

117

118

119

1 2 0 

1 2 1 

1 2 2

123

124

125

Year of receivership

and location

Missouri: Bucklin'

South Dakota: St. Onge

South Dakota: Whitewood

Michigan: Marcellus ■*'

Indiana: Romney

Wisconsin: Coloma y

Texas: Bryan

Missouri: Hardin

Louisiana: Denham Springs

Kentucky: Ghent

Texas: South San Antonio

Kentucky: Sturgis

Georgia: Summerville

Montana: Bainville

Tennessee: Newbern

Virginia: Bloxom y "

Kentucky: Campbellsville

Missouri: Hamilton "

Missouri: Noel "

New York: Brooklyn

W est Virginia: Charles Town

Missouri: Galena

New Jersey: Perth Amboy

New Jersey: Perth Amboy "

North Dakota: Burt

Texas: Ringgold

Illinois: Roanoke

Minnesota: Carlisle

Pennsylvania: Nescopeck ^

North Dakota: Wyndmere

North Dakota: Elgin ^

Kentucky: Barbourville

Kentucky: Olive Hill

Arkansas: Swifton ^ j

North Dakota: Center

Missouri: Alba

Indiana: Union City

Missouri: Nevada ^

Wisconsin: Big Falls

Title of bank

The Citizens Bank

St. Onge State Bank

Whitewood Banldng Company

The State Bank of Marcellus4

The Romney Bank

Coloma State Bank

Union State Bank and Trust Company

Hardin Trust Company

Amite River Bank

Ghent Deposit Bank

First State Bank of South San Antonio

Bank of Sturgis

Chattooga County Bank

Farmers State Bank of Bainville

Farmers & Merchants Bank

Peoples Bank of Bloxom, Inc.

The Taylor National Bank of Campbellsville

First Bank & Trust Company of Hamilton

The Bank of Noel

The Fort Greene National Bank in New York

Farmers Bank & Trust Company

The Bank of Galena

Perth Amboy Trust Company

The Raritan Trust Company

Burt State Bank

Ringgold State Bank

Roanoke State Bank

Farmers State Bank of Carlisle

The Nescopeck National Bank

Farmers State Bank

Farmers & Merchants Bank of Elgin

First State Bank

Carter County Commercial Bank

Bank of Swifton

First State Bank

Bank of Alba

Commercial Bank & Trust Company

Nevada Trust Company

Big Falls State Bank

Class of

bank1

Receiver2

Last date of regular

banking operations

N M S M ay 1 , 1937

N M F April 30, 1937

N M F April 29, 1937

N M F4 June 17, 1937

N M S June 15, 1937

N M S June 14, 1937

N M s June 16, 1937

N M s June 18, 1937

N M F June 23, 1937

N M s June 26, 1937

N M s June 29, 1937

N M s July 2, 1937

N M s July 13, 1937

N M s July 13, 1937

N M s July 17, 1937

N M s July 19, 1937

N F June 30, 1937

N M s July 24, 1937

N M s August 11, 1937

N F August 14, 1937

N M F August 31, 1937

N M S September 14, 1937

SM s October 2, 1937

SM s October 2, 1937

N M F September 25, 1937

N M S October 1, 1937

N M S September 8, 1937

N M S October 7, 1937

N F October 2 2 , 1937

N M F October 23, 1937

N M F October 30, 1937

N M S October 29, 1937

N M S October 30, 1937

N M s November 19, 1937

N M F November 1, 1937

N M s November 1, 1937

N M s November 4, 1937

N M s December 2, 1937

N M s December 17, 1937

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

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Federal Reserve Bank of St. Louis
1938

Maryland: Bel Air

Kentucky: Worthville

Arkansas: Decatur

South Dakota: Wolsey

Nebraska: Maywood

Missouri: Lathrop

South Dakota: Pollock

Arkansas: Marion

Missouri: Strafford

Colorado: Briggsdale

Texas: Purdon

Missouri: Blackburn

Nebraska: Surprise

Arkansas: Hartford

North Dakota: Colfax

North Dakota: Kulm

Indiana: Borden

New Jersey: Margate City

South Dakota: Ipswich

Michigan: Trout Creek

South Dakota: Humboldt

Wisconsin: Caroline

North Dakota: Turtle Lake

South Dakota: Irene

South Dakota: Andover

Iowa: Ankeny

North Dakota: Beulah

Wisconsin: Leopolis

Iowa: Russell

Kentucky: Milburn

South Dakota: Hudson

Vermont: Winooski

South Dakota: Parkston

Wisconsin: Rice Lake

South Dakota: Highmore

Missouri: Madison

Tennessee: Winchester

South Dakota: Hitchcock

South Dakota: Wessington Springs

North Dakota: Flaxton

Minnesota: Hewitt

North Dakota: Medora

South Dakota: Wilmot

Kentucky: Lockport

W est Virginia: Kermit

Missouri: Fayette

North Dakota: Anamoose

Alabama: Cuba

Wisconsin: Canton

Kentucky: London

1939

Wisconsin: Oconto Falls

Minnesota: Preston

Texas: Elgin

The Harford Bank A

Worthville Deposit Bank

Bank of Decatur

First State Bank of Wolsey

Farmers Security Bank "

The First State Bank of Lathrop

Pollock State Bank

Bank of Marion

Bank of Strafford '

The Briggsdale State Bank

The First National Bank of Purdon "

Farmers Bank of Blackburn

State Bank of Surprise ^

Citizens State Bank *"

The First State Bank ^

First State Bank '

The Borden State Bank

Margate Trust Company

First State Bank of Ipswich " ^

The Trout Creek State Bank

Bank of Humboldt "

Caroline State Bank ^

First State Bank

State Bank of Irene

Citizens State Bank of Andover ^

Farmers Savings Bank " y

German State Bank of Beulah

Leopolis State Bank "

Russell State Bank & Trust Company

Bank of Milburn ~

Hudson State Bank

Winooski Savings Bank

Hutchinson County Bank ^

State Bank of Rice Lake "

Bank of Highmore (Drew Bros.)

The Farmers & Merchants Bank y

Home Bank and Trust Company '

Hitchcock State Bank

Jerauld County Bank ^

First Bank of Flaxton *'''

First State Bank

Stockmens State Bank

First State Bank -

Bank of Lockport '

Kermit State Bank

Fayette Bank >

Farmers State Bank of Anamoose

The Bank of Cuba

Farmers State Bank " /

Farmers State Bank of London

Oconto County State Bank

The First National Bank of Preston

First State Bank

N M

S December 31, 1937

N M

S January 11, 1938

N M

s January 19, 1938

N M F January 21, 1938

N M

S February 1 , 1938

N M

s February 1 , 1938

N M

F February 

1 , 1938

N Ms February 7, 1938

N M

s February 1 0 , 1938

N M

F February 1 0 , 1938

N F February 12, 1938

N M

S February 17, 1938

N M

S February 28, 1938

N M

S March 2, 1938

N M F April 9, 1938

N M

F March 14, 1938

N M

S March 18, 1938

N M

S April 2, 1938

N M

F April 12, 1938

N M

F Januarv 28, 1938

N M

F April 19, 1938

N M

S April 20, 1938

N M

F April 19, 1938

N M

F April 25, 1938

N M

F M ay 17, 1938

N M

S M ay 19, 1938

N M

F M ay 31, 1938

N M

S June 3, 1938

N M

s June 17, 1938

N M

s July 11, 1938

N M

s July 12, 1938

N M

F July 28, 1938

N M F July 27, 1938

N M

S August 15,1938

N M

F August 16,1938

N M

S August 18, 1938

N M *

S August 19,1938

N M

F August 24, 1938

SM

F August 31, 1938

N M

F August 31,1938

N M

S September 2,1938

N M

F September 24,1938

N M

F September 29,1938

N M

S October 11, 1938

N M

F November 1, 1938

N M

S November 3, 1938

N M

F November 26, 1938

N M

S November 26, 1938

N M

S December 31, 1938

N M

S December 21, 1938

N M

s January 4, 1939

NF January 5, 1939

N M

s January 9, 1939

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 51

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

196

197

198

199

2 0 0

2 0 1

2 0 2

203

204

205

206

207

208

209

2 1 0

2 1 1

2 1 2

213

214

215

216

217

218

219

2 2 0

2 2 1

2 2 2

223

224

225

226

22. C ase Num bers, L ocation s, B ank T itle s , and R e la te d Inform ation, D ep osit P a y o ff C ases, 1934-1958—Continued

Year of receivership

and location

Title of bank Class of

bank1

Receiver2

Last date of regular

banking operations

Texas: Marquez First State Bank N M S January 16, 1939

North Dakota: Scranton Bank of Scranton N M F January 16, 1939

Missouri: Newtown The Farmers Bank of Newtown N M S February 2, 1939

Texas: Merkel Farmers State Bank in Merkel N M S February 3, 1939

Pennsylvania: Coudersport The Coudersport Trust Company N M s February 4, 1939

New Jersey: Jersey City The New Jersey Title Guarantee and Trust Company SM s February 11, 1939

Kentucky: Rocky Hill The Bank of Rocky Hill N M s March 4, 1939

West Virginia: Point Pleasant The Point Pleasant National Bank N F March 7, 1939

Wisconsin: Forestville State Bank of Forestville N M s March 8 , 1939

Indiana: Fulton The Fulton State Bank N M s March 18, 1939

North Dakota: Bremen State Bank of Bremen N M F March 18, 1939

Arkansas: Atkins^ Merchants & Farmers Bank N M s March 23, 1939

Oklahoma: Amorita Bank of Amorita N M F April 6 , 1939

Texas: Tatum Tatum State Bank N M s M ay 2, 1939

Tennessee: Ripley r ' Ripley Savings Bank & Trust Company N M s April 28, 1939

Virginia: Parksley The Parksley National Bank N F M ay 18, 1939

Wisconsin: Hartland Bank of Hartland N M s M ay 29, 1939

Montana: Glen dive Glendive State Bank N M S June 15, 1939

New Jersey: Paterson The Hamilton Trust Company of Paterson SM S June 17, 1939

Connecticut: Plantsville The Plantsville National Bank N F June 24, 1939

New Jersey: Pleasant ville Pleasantville Trust Company N M S June 30, 1939

Kentucky: Providence Providence Citizens Bank N M s September 1,1939

Wisconsin: Cato The Farmers State Bank N M s September 15, 1939

Illinois: O’Fallon First State Bank of O’Fallon SM s August 28, 1939

Nebraska: Lawrence Security State Bank N M s October 3, 1939

Kentucky: Liberty Commercial Bank of Liberty N M s November 25, 1939

Kansas: Liebenthal The State Bank of Liebenthal N M s December 6 , 1939

Tennessee: Maynard ville Maynardville State Bank N M s December 9, 1939

New Jersey: Tuckerton The Tuckerton Bank N M s December 27, 1939

1940

Texas: North Zulch Guaranty Bond State Bank N M s January 4, 1940

Missouri: Niangua The Citizens State Bank of Niangua N M s January 12, 1940

New Jersey: Atlantic City Bankers Trust Company N M s February 29, 1940

Missouri: Eugene ^ Eugene State Bank N M s March 13, 1940

Kentucky: Dry Ridge Farmers Bank N M s March 23, 1940

Pennsylvania: Blairsvilie Blairsville Savings and Trust Company N M s April 4, 1940

North Dakota: Ashley Ashley State Bank N M F April 18, 1940

North Dakota: Wishek First State Bank N M F April 18, 1940

Kentucky: Moreland Bank of Moreland N M S April 19, 1940

Indiana: Maekey Mackey State Bank N M S M ay 9, 1940

Oklahoma: Stonewall First State Bank of Stonewall N M S June 13, 1940

Indiana: Lucerne The Lucerne State Bank / N M s June 22, 1940

Pennsylvania: Kane Kane Trust and Savings Company N M s July 2, 1940

Georgia: Claxton The Claxton State Bank N M s July 20, 1940

South Dakota: Badger Badger State Bank N M s August 3, 1940

Georgia: Leslie The Bank of Leslie ✓ N M s September 18,1940

Maryland: Nanticoke Savings Bank of Nanticoke * N M s October 4, 1940

Wisconsin: Eagle Bank of Eagle N M s October 25, 1940

Kansas: Burlingame The First National Bank of Burlingame N F November 19, 1940

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
227

228

229

230

231

232

233

234

1941

Missouri: Jamestown

Oklahoma: Anadarko

Illinois: Indianola

Mississippi: Baldwyn

Pennsylvania: Glenside

New York: Forest ville

Wisconsin: Dodgeville

New York: New York

Bank of Jamestown

The First National Bank of Anadarko

First State Bank and Trust Company of Indianola

Bank of Baldwyn

The Keswick National Bank of Glenside

The First National Bank of Forestville

The First National Bank of Dodgeville

Banco Di Napoli Trust Company of New York

N M

N

N M

N M

N

N

N

N M

S

F

S

F

F

F

F

S

January 1 1 , 1941

January 17, 1941

January 29, 1941

March 8, 1941

April 12, 1941

November 1, 1941

November 29, 1941

December 11, 1941

235

236

237

238

239

240

1942

Minnesota: Palisade

North Carolina: Draper

Florida: Malone

Wisconsin: Cochrane

Wisconsin: Lone Rock

Missouri: Liberty

Palisade State Bank

Bank of Draper

Bank of Malone

Farmer’s and Merchant’s Bank

Farmers Bank

The Citizens Bank of Liberty, Mo.

N M

N M

N M

N M

N M

N M

S

F

F

S

s

s

January 21, 1942

February 6, 1942

March 31, 1942

July 6, 1942

October 2, 1942

November 18, 1942

241

242

243

244

1943

Vermont: Poultney

North Carolina: Black Mountain

Illinois: Cullom

Pennsylvania: Easton

The Poultney National Bank

Bank of Black Mountain

Farmers State Bank of Cullom

First National Bank and Trust Company of Easton

N

N M

N M

N

F

F

S

F

March 8 , 1943

March 18, 1943

April 2, 1943

December 10, 1943

245

1944

Indiana: Brownsville

1945-1954

The Brownsville State Bank

N o deposit payoff cases in these years.

N M S M ay 12, 1944

246

247

248

249

1955

Texas: Lewisville

Idaho: Rathdrum

Idaho: Priest River

California: Twentynine Palms

The First National Bank of Lewisville

Rathdrum State Bank

Bank of North Idaho, Inc.

Joshua Monument National Bank of Twentynine Palms

N

N M

N M

N

F

F

F

F

January 27, 1955

April 30, 1955

April 30, 1955

July 22, 1955

250

1956®

Texas: Fort Worth River Oaks State Bank N M F October 1 2 , 1956

252

19577

Texas: Yorktown First State Bank of Yorktown SM F April 9, 1957

254

255

256

1958

Oregon: Halfway

Texas: Richland Springs

New Jersey: Edge water

The First National Bank of Halfway

Peoples State Bank

The Manufacturers’ Bank of Edgewater

N

N M

N M

F

F

S

March 15, 1958

M ay 3, 1958

July 17, 1958

1 —'National bank; SM — State bank, member of Federal Reserve System; N M — State bank not member of Federal Reserve System.

* F— Federal Deposit Insurance Corporation (in case 90, liquidating agent— see note <); S— State banking department or State-appointed receiver other than Federal Deposit

Insurance Corporation.

3 State banking authority acted as receiver until appointment of Federal Deposit Insurance Corporation as receiver April 1 2 , 1937.

i Voluntary ii(luidation in which Federal Deposit Insurance Corporation, by arrangement with the board of directors of the bank, acted as liquidating agent.

6 Nonmsured at date of closing, which was four months after termination of its insured status.

6 Deposit payoff case number 251 was assigned to the Home National Bank of Ellenville, Ellenville, New York, in anticipation of payments to depositors after the bank was placed

In receivership on December 4, 1956. Deposits were subsequently assumed by another insured bank with financial aid by the Corporation in the form of a loan to the receiver, and the

bank has been included among deposit assumption cases as case number 181.

* Deposit payoff case number 253 was assigned to the Del Rio National Bank, Del Rio, Texas, in anticipation of payments to depositors after the bank was placed in receivership

on June 20, 1957. This bank was restored to solvency and the receivership terminated on July 2, 1957, without the necessity of disbursements to depositors by the Corporation.

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— PAYOFF CASES 53

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 23. A ssets, L iab ilities, and Payment o f Claim s by R eceivers, D ep osit P a y o ff Cases, 1934-1958

Year and

case

number

Assets (adjusted)

at date of

suspension1

Liabilities adjusted to

termination of receivership

Payment of claims by receivers, adjusted to

termination of receivership2

Percent paid—

Claims proved and allowed

Amount

Deposits Other Total

Paid by offset,

security, or

preference

Common

claims

paid on

common

claims

On common

claims

On all

claims

T o ta l, all cases----- $156,017,506 $126,113,582 $13,139,126 $138,761,827 $28,257,228 $110,504,599 $92,950,777 8 4.1% 87.3%

Cases, 1934-53. .. 139,187,686 109,590,088 12,903,888 122,003,096 23,663,749 98,339,347 81,853,194 83.2 86.5

Cases, 1954-58. .. 16,829,820 16,523,494 235,238 16,758,731 4,593,479 12,165,252 11,097,583 91.2 93.6

1934................. $2,657,221 $1,968,479 $116,905 $2,082,084 $1,027,946 $1,054,138 $826,426 7 8.4% 89.1%

1 .......................... 373,763 238,624

1,059,763

6,557 244,619 132,172 112,447 112,447 10 0 .0 10 0 .0

2 .......................... 1,434,996 43,800 1,103,563 777,532 326,031 204,747 62.8 89.0

3 .......................... 90,787 41,644 25,996 67,632 28,843 38,789 38,789 10 0 .0 10 0 .0

4 .......................... 100,440 68,962 670 69,632 665 68,967 68,967 10 0 .0 10 0 .0

5 .......................... 82,098 68,148 2,116 70,036 5,573 64,463 38,800 60.2 63.4

6 .......................... 45,549 31,733 1,364 33,091

219,181

2,802 30,289 30,289 10 0 .0 10 0 .0

7 .......................... 243,050 214,401 6,978 28,486 190,695 145,692 76.4 79.5

8 .......................... 195,038 172,478 14,068 186,248 22,456 163,792 128,030 78.2 80.8

9 .......................... 91,500 72,726 15,356 88,082 29,417 58,665 58,665 10 0 .0 10 0 .0

1935................. $11,105,159 $9,090,656 $2,356,870 $11,491,458 $3,109,659 $8,381,799 $5,816,558 69.4% 77.7%

1 0 .......................... 2,304,923 589,684 1,888,124 2,477,800 1,611,385 866,415 45,486 5.2 66.9

1 1 .......................... 387,793 384,064 30,145 413,494 112,197 301,297 254,112 84.3 88.6

1 2 .......................... 148,542 135,582 617 136,168 268 135,900 97,855 72.0 72.1

1 3 .......................... 427,433 325,204 68,044 422,292 132,080 290,212 40,284 13.9 40.8

1 4 .......................... 264,050 181,769 46,227 267,516 78,807 188,709 43,591 23.1 45.8

1 5 .......................... 118,096 74,979 3,466 78,372 7,982 70,390

82,609

70,390 1 0 0 .0 10 0 .0

1 6 .......................... 166,367 107,694 28,723 134,010 51,401 76,841 93.0 95.7

1 7 .......................... 129,456 96,071 5,838 101,908 9,098 92,810 26,312 28.4 34.7

1 8 .......................... 234,828 218,652 39,004 257,417 71,755

244,616

185,662 54,897 29.6 49.2

1 9 .......................... 891,571 721,565 109,224 830,209 585,593 397,442 67.9 77.3

2 0 .......................... 161,195 128,102 675 128,777 14,008 114,769 114,769 10 0 .0 10 0 .0

2 1 .......................... 90,708 47,551 460 47,858 2,445 45,413 36,760 80.9 81.9

2 2 .......................... 226,546 132,280 5,968 135,248 25,263 109,985 98,952 90.0 91.8

2 3 .......................... 308,214 265,885 16,937* 282,705 74,387 208,318 208,318 10 0 .0 10 0 .0

2 4 .......................... 301,146 199,662 57,318 255,382 81,556 173,826 173,826 10 0 .0 10 0 .0

2 5 .......................... 3,941,938 4,677,700 31,807 4,697,808 505,260 4,192,548 3,533,509 84.3 86.0

2 6 .......................... 47,009 28,894 5,070 33,965 5,869 28,096 28,096 10 0 .0 10 0 .0

2 7 .......................... 73,188 48,778 151 48,868 14,136 34,732 30,738

49,708

141,138

88.5 91.8

28 .............. 79,062

224,175

73,608

188,340

73,596

189,727

10,517

18,941

63,079

170,786

78.8 81.8

2 9 .......................... 1,393 82.6 84.4

3 0 .......................... 286,211 229,148 11,296 240,232 30,830 209,402 128,259 61.3 6 6 .2

3 1 .......................... 146,862 125,302 1,270 126,572 3,256 123,316 123,316 10 0 .0 10 0 .0

3 2 .......................... 91,233 73,530 2,663 75,787 1,660 74,127 8,154 1 1 . 0 12.9

3 3 .......................... 54,613 36,612 2,450 35,747 1,942 33,805 33,805 10 0 .0 10 0 .0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1936................. $12,988,845 $11,240,967 $294,522 $11,532,042

3 4 .......................... 158.803 95,043 4,683 99,726

3 5 .......................... 311,755 219,065 152 219,217

3 6 .......................... 185,622

213,386

143,221 6,364 155,557

3 7 .......................... 142,448 7,104 149,141

3 8 .......................... 905,693 770,994 13,889 784,883

3 9 .......................... 105,928 92,604 295 92,875

4 0 .......................... 69,420 51,077 1 , 2 2 2 52,295

4 1 .......................... 13,997 5,088 190 5,278

4 2 .......................... 92,974 74,561 307 74,792

4 3 .......................... 227,574 198,207 1,776 199,983

4 4 .......................... 253,832 180,936 980 181,916

4 5 .......................... 56,390 61,742 2,844 64,294

4 6 .......................... 181,196 133,659 195 133,854

4 7 .......................... 30,266 22,470 146 22,616

4 8 

4 9 

149,997

2 2 ,6 8 8

50,433

150,028

11,373

31,514

7,639 157,667

11,299

.......................... 1 2 31,5265 0

5 1 .......................... 71,765 52,639 1,631 51,857

5 2 .......................... 128,016 97,421 8,691 105,767

5 3 .......................... 202,205 103,058 263 103,321

5 4 .......................... 53,118 43,489 509 43,888

5 5 .......................... 61,907 49,831 92 49,883

5 6 .......................... 70,968 53,001 313 53,306

5 7 .......................... 520,182 410,373 5,165 415,538

5 8 .......................... 203,641 171,264 855 172,119

5 9 .......................... 75,286 49,557

296,755

1,185 50,707

6 0 .......................... 338,541 6,131 302,781

6 1 .......................... 79,834 54,522 6,131 60,618

6 2 .......................... 1,245,408 1,117,196 14,141 1,128,198

6 3 .......................... 1,232,955 1,062,319 1,482 1,061,698

6 4 .......................... 70,114 57,631 310 57,821

6 5 .......................... 87,405 71,266 897 72,163

6 6 .......................... 172,652 128,185 751 128,768

6 7 .......................... 325,295 290,440 1,575 291,729

6 8 .......................... 69,818 51,772 94 51,835

6 9 .......................... 1,168,561 996,375 8,531 1,004,899

7 0 .......................... 1,954,801 2,079,329 131,345 2,209,487

7 1 .......................... 247,595 207,194 5,259 212,453

7 2 .......................... 350,405 293,304 3,992 297,296

7 3 .......................... 562,837 491,910 1,363 493,273

7 4 .......................... 82,525 45,605 10,352 55,880

7 7 .......................... 583,057 582,501 35,666 619,838

1937................. $19,376,230 $14,959,950 $1,997,336 $16,910,574

7 5 .......................... 192,156 138,842 1,282 139,961

7 6 .......................... 120,849 84,021 546 84,464

7 8 .......................... 81,508 50,369 258 50,604

7 9 .......................... 335,388 320,462 757 320,321

8 0 .......................... 204,543 164,121 685 164,279

8 1 .......................... 92,404 61,737 7,508 69,029

8 2 .......................... 153,512 112,175 1,743 113,780

8 3 .......................... 627,866 417,684 35,056 452,740

8 4 .......................... 718,781 725,484 35,502 756,695

8 5 .......................... 384,412 330,260 1,440 331,507

8 6 .......................... 69,822 56,782 1,533 58,007

$1,723,559 $9,808,483 $8,147,418 83.1 % 85.6%

39,585 60,141 7,751 12.9 47.5

7,982 211,235 211,235 10 0 .0 10 0 .0

19,446 136,111 43,011 31.6 40.2

40,831 108,310 79,613 73.5 80.8

142,867 642,016 642,016 10 0 .0 10 0 .0

6,513 86,362 77,223 89.4 90.2

11,300 40,995 31,440 76.7 81.7

2,758 2,520 583 23.1 63.3

5,602 69,190 69,190 10 0 .0 10 0 .0

61,750 138,233 104,343 75.5 83.1

32,857 149,059 149,059 10 0 .0 10 0 .0

9,132 55,162 8,577 15.5 27.5

6,593 127,261 117,462 92.3 92.7

5,735 16,881 16,881 10 0 .0 10 0 .0

28,572 129,095 86,705 67.2 73.1

24 11,275 8,447 74.9 75.0

724 30,802 26,673 8 6.6 86.9

1 , 2 2 1 50,636 36,456 72.0 72.7

34,519 71,248 64,351 90.3 93.5

13,923 89,398 89,398 10 0 .0 10 0 .0

4,465 39,423 36,825 93.4 94.1

6,971 42,912 23,388 54.5 60.9

2,291 51,015 44,893 8 8.0 88.5

31,391 384,147 313,903 81.7 83.1

9,388 162,731 140,862 8 6.6 87.3

6,877 43,830 36,304 82.8 85.2

71,941 230,840 189,866 82.3 86.5

9,810 50,808 43,481 85.6 87.9

40,742 1,087,456 728,596 67.0 6 8 .2

48,870 1,012,828 997,133 98.5 98.5

4,370 53,451 45,007 84.2 85.4

3,824 68,339 61,169 89.5 90.1

22,278 106,490 84,660 79.5 83.0

79,375 212,354 155,017 73.0 80.3

14,145 37,690 23,217 61.6 72.1

61,381 943,518 943,518 10 0 .0 10 0 .0

631,675 1,577,812 1,232,765 78.1 84.4

27,841 184,612 168,051 91.0 92.2

24,663 272,633 272,633 10 0 .0 10 0 .0

83,430 409,843 409,843 10 0 .0 10 0 .0

13,812 42,068 15,710 37.3 52.8

52,085 567,753 310,163 54.6 58.4

$4,461,349 $12,449,225 $9,759,467 78.4% 84.1%

13,625 126,336 42,313 33.5 40.0

3,680 80,784 55,713 69.0 70.3

6,129 44,475 30,772 69.2 72.9

74,290 246,031 184,376 74.9 80.8

37,763 126,516 102,756 81.2 85.5

14,503 54,526 21,974 40.3 52.8

15,456 98,324 65,533 66.7 71.2

76,351 376,389 376,389 10 0 .0 10 0 .0

196,871 559,824 509,160 91.0 93.3

82,707 248,800 242,769 97.6 98.2

10,503 47,504 35,153 74.0 78.7

OPERATIONS TO PROTECT DEPOSITORS, 1 9 3 4 -1 9 5 8— PAYOFF CASES 55

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 23. A ssets, L iab ilities, and Payment o f Claim s by R eceivers, D ep osit P a y o ff C ases, 1934-1958—Continued

Year and

case

number

Assets (adjusted)

at date of

suspension1

Liabilities adjusted to

termination of receivership

Payment of claims by receivers, adjusted to

termination of receivership2

Percent paid—

Claims proved and allowed

Amount

Deposits Other Total

Paid by offset,

security, or

preference

Common

claims

paid on

common

claims

On common

claims

On all

claims

8 7 ........................ 156,509 141,010 457 141,367 20,393 120,974 120,974 10 0 .0 10 0 .0

8 8 ........................ 80,665 60,739 308 60,773 11,898 48,875 37,487 76.7 81.3

8 9 ........................ 123,907 87,713 603 88,093

65,868

20,691 67,402 41,648 61.8 70.8

9 0 ........................ 94,891 64,080 1,788 4,621 61,247 61,247 10 0 .0 10 0 .0

9 1 ........................ 64,010 70,924 7,732 78,386 7,955 70,431 17,005 24.1 31.8

9 2 ........................ 94,380 85,324 16,881 102,135 5,998 96,137 61,047 63.5 65.6

9 3 ........................ 359,111 302,244 849 303,093 149,703 153,390 153,390 10 0 .0 10 0 .0

9 4 ........................ 256,378 224,979 14,519 239,416 92,703 146,713 126,173 8 6.0 91.4

9 5 ........................ 307,811 245,154 25,902 271,056 103,745 167,311 98,314 58.8 74.5

9 6 ........................ 223,152 188,823 1,620 188,650 10,206 178,444 178,444 10 0 .0 10 0 .0

9 7 ........................ 513,503 499,745 7,028 506,773 83,146 423,627 423,627 10 0 .0 10 0 .0

9 8 ........................ 245,582 212,969 12,413 225,280 35,979 189,301 181,015 95.6 96.3

9 9 ........................ 265,014 205,000 2,467 206,514 43,763 162,751 148,336 91.1 93.0

1 0 0 ........................ 103,780 54,107 163 54,270 8,848 45,422 45,422 10 0 .0 10 0 .0

1 0 1 ........................

1 0 2 ........................

263,518

100,718

190,075

63,484

938,303

25,751 215,826

63,392

63,153

16,230

152,673

47,162

885,443

129,772

38,240

821,071

85.0

81.1

92.7

89.4

85.9

103........................ 95.9 1,651,200 642,047 1,577,827 692,384

104........................ 698,098 543,721 18,737 559,912 146,064 413,848 303,103 73.2 80.2

105........................ 134,787 143,630 14,206 152,578 42,495 110,083 38,639 35.1 53.2

106........................ 2,475,163 1,990,692 183,301 2,170,876 660,752 1,510,124 1,274,137 84.4 89.1

107........................ 1,262,325 1,528,475 3,862 1,527,907 219,656 1,308,251 1,121,301 85.7 87.8

108........................ 92,568 76,425 93 76,384 15,776

817,420

60,608 59,759 98.6 98.9

109........................ 2,899,000 1,343,347 656,102 1,989,949 1,172,529 269,682 23.0 54.6

1 1 0 ........................ 706,960 364,605 166,250 528,282 187,745 340,537 34,905 1 0 .2 42.1

I l l ........................ 63,251 38,532 289 38,777 2,261 36,516 33,768 92.5 92.9

1 1 2 ........................ 92,429 77,662 13,197 90,764 27,041 63,723 35,526 55.8 68.9

113........................ 265,254 280,038 1,554 281,257 26,450 254,807 244,426 95.9 96.3

114........................ 99,329 102,778 431 103,190 15,504 87,686 87,686 10 0 .0 10 0 .0

115........................ 396,585 406,386 14,266 419,170 41,472 377,698 348,992 92.4 93.2

116........................ 100,373 72,079 219 72,257 3,047 69,210 69,210 10 0 .0 10 0 .0

117........................ 56,561 35,106 115 34,989 2,160 32,829 30,311 92.3 92.8

118........................ 425,410 391,469 2,601 393,294 64,974 328,320 237,278 72.3 76.9

119........................ 139,109 109,164 5,265 114,140 18,111 96,029 96,029 10 0 .0 10 0 .0

1 2 0 ........................ 207,642 221,834 8,543 229,228 80,424 148,804 138,893 93.3 95.7

1 2 1 ........................ 80,302 51,942 477 52,326 10,532 41,794 41,794 10 0 .0 10 0 .0

1 2 2 ........................ 96,667 78,729 2 0 1 78,718 15,403 63,315 54,134 85.5 88.3

123........................ 853,353 733,095 53,921 787,016 82,771 704,245 704,245 10 0 .0 10 0 .0

124........................ 242,216 188,567 1,061 188,764 68,173 120,591 120,591 10 0 .0 10 0 .0

125........................ 103,478 85,064 5,807 90,690 9,824 80,866 64,938 80.3 82.4

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1938.

1 2 6 ....

1 2 7 ....

1 2 8 . . ..

1 2 9 ....

1 3 0 ....

1 3 1 ....

1 3 2 . . ..

1 3 3 ....

1 3 4 . . ..

1 3 5 ....

1 3 6 ....

1 3 7 ....

1 3 8 ....

1 3 9 ....

1 4 0 . . ..

1 4 1 ....

1 4 2 . . ..

1 4 3 . . ..

1 4 4 ....

1 4 5 ....

1 4 6 . . ..

1 4 7 . . ..

1 4 8 ....

1 4 9 ....

1 5 0 ....

1 5 1 ....

1 5 2 ....

1 5 3 ....

1 5 4 ....

1 5 5 ....

1 5 6 ....

1 5 7 ....

15 8 

15 9 

16 0

1 6 1 ....

162____

163____

1 6 4 ....

16 5 

16 6

16 7 

16 8

1 6 9 ....

170____

1 7 1 ....

17 2 

17 3 

1 7 4 ....

1 7 5 ....

1939.

17 6 

17 7 

1 7 8 ....

$13,924,558 $10,296,244 $1,336,576 $11,620,423

892,692 669,043 63,841 732,884

141,465 116,216 9,293 125,325

97,073 84,269 571 84,690

123,346 89,788 378 90,146

212,665 186,486 1,377 187,863

163,095 124,669 4,111 128,691

102,515 55,638 11,186 66,771

638,997 575,159 19,333 594,085

135,614 122,367 703 122,993

14,218 7,833 1 1 0 7,923

67,887 36,062 226 36,260

79,339 51,134 82 51,211

65,295 55,631 365 55,986

118,294 94,433 324 94,715

117,369 83,164 363 83,507

211,614 142,420 17,384 159,571

164,543 134,823 164 134,987

702,159 367,005 111,429 477,894

210,411 184,456 847 185,235

46,141 21,789 539 22,328

194,178 130,623 2,689 133,121

167,748 176,462 11,950 188,112

185,674 143,508 954 143,893

176,170 141,739 695 142,336

78,486 48,442 36 48,260

186,410 162,791 1,536 164,299

1 2 2 , 0 2 1 99,842 394 100,056

204,548 142,529 15,374 157,778

217,173 185,517 422 185,925

78,934 68,209 232 68,441

253,807 208,699 374 208,945

4,008,179 2,479,376 897,115 3,373,771

272,963 214,713 1,527 216,135

946,068 841,335 18,476 857,718

109,149 79,375 171 79,546

118,960 94,944 479 94,988

400,865 277,955 65,177 343,132

78,513 53,906 219 53,733

260,145 210,973 17,792 228,301

80,282 52,683 10 2 52,765

135,441 139,382 5,037 144,365

87,398 118,395 2,520 120,777

164,805 112,251 1,473 113,099

67,611 51,332 51,318

119,759 67,453 3,643 70,920

348,276 313,274 7,002 320,194

61,681 39,246 189 39,433

89,226 100,465 8,058 108,523

50,665 30,270 167 30,338

354,691 308,170 30,147 337,136

$43,933,104 $32,737,894 $5,231,665 $37,898,862

385,896 345,829 1,570 347,399

310,153 338,026 1,627 339,321

347,165 286,902 638 287,540

$2,343,891 $9,276,532 $8,048,116 8 6.8 % 89.4%

117,639 615,245 580,914 94.4 95.3

24,530 100,795 69,800 69.2 75.3

8,344 76,346 70,238 92.0 92.8

21,528 68,618 58,263 84.9 88.5

8,028 179,835 179,835 1 0 0 .0 10 0 .0

19,275 109,416 84,797 77.5 80.9

25,729 41,042 22,861 55.7 72.8

145,930 448,155 448,155 1 0 0 .0 10 0 .0

17,412 105,581 105,581 1 0 0 .0 10 0 .0

2 2 1 7,702 5,284 6 8.6 69.5

1,097 35,163 30,184 85.8 86.3

12,156 39,055 39,055 1 0 0 .0 10 0 .0

12,856 43,130 43,130 10 0 .0 10 0 .0

5,392 89,323 89,323 10 0 .0 10 0 .0

4,318 79,189 79,189 10 0 .0 10 0 .0

18,195 141,376 110,147 77.9 80.4

6,942 128,045 84,382 65.9 67.7

126,795 351,099 200,126 57.0 68.4

29,488 155,747 120,903 77.6 81.2

4,362 17,966 13,451 74.9 79.8

26,770 106,351 106,351 10 0 .0 10 0 .0

16,685 171,427 133,711 78.0 80.0

14,805 129,088 108,537 84.1 85.7

6,660 135,676 134,157 98.9 98.9

9,722 38,538 38,538 10 0 .0 10 0 .0

16,937 147,362 147,362 10 0 .0 10 0 .0

11,898 88,158 79,342 90.0 91.2

29,067 128,711 86,906 67.5 73.5

9,742 176,183 169,458 96.2 96.4

6,150 62,291 62,291 1 0 0 .0 10 0 .0

36,715 172,230 172,230 10 0 .0 10 0 .0

929,888 2,443,883 2,004,703 82.0 87.0

66,953 149,182 146,196 98.0 98.6

87,359 770,359 736,463 95.6 96.0

10,594 68,952 68,952 1 0 0 .0 10 0 .0

6,379 88,609 83,293 94.0 94.4

121,698 221,434 157,893 71.3 81.5

4,187 49,546 49,546 10 0 .0 10 0 .0

65,931 162,370 158,587 97.7 98.3

4,060 48,705 28,514 58.5 61.7

44,289 100,076 93,825 93.8 95.7

11,549 109,228 25,404 23.3 30.6

19,432 93,667 93,667 10 0 .0 10 0 .0

4,361 46,957 46,957 10 0 .0 10 0 .0

13,978 56,942 56,942 10 0 .0 10 0 .0

62,295 257,899 253,773 98.4 98.7

9,815 29,618 29,618 10 0 .0 10 0 .0

18,984 89,539 68,792 76.8 80.9

2,239 28,099 28,099 10 0 .0 10 0 .0

64,512 272,624 242,391 88.9 91.0

$7,720,345 $30,178,517 $23,407,759 77.6% 82.1%

69,552 277,847 277,847 10 0 .0 10 0 .0

34,217 305,104 236,303 77.4 79.7

77,473 210,067 210,067 10 0 .0 10 0 .0

OPERATIONS TO PROTECT DEPOSITORS, 1 9 3 4 -19 5 8— PAYOFF CASES 57

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 23. A ssets, L iab ilities, and Paym ent o f Claim s by R eceivers, D ep osit P a y o ff Cases, 1934-1958— Continued

Year and

case

number

Assets (adjusted)

at date of

suspension1

Liabilities adjusted to

termination of receivership

or December 31, 1958

Payment of claims by receivers, adjusted to

termination of receivership2

Percent paid—

Claims proved and allowed

Amount

paid on

common

claims

On common

claims

On all

Deposits Other Total claims

Paid by offset,

security, or

preference

Common

claims

179........................ 87,396 45,551 2,591 48,142 8,089 40,053 40,053 10 0 .0 10 0 .0

180........................ 152,601 93,605 7,641 100,471 17,209 83,262 73,217 87.9 90.0

1 81........................ 114,298 89,299 341 89,474 18,941 70,533 70,533 10 0 .0 10 0 .0

182........................ 183,386 130,550 1,987 132,205 32,384 99,821 99,821 10 0 .0 10 0 .0

183........................ 952,300 706,578 5,083 711,660 11,404 700,256 700,256 10 0 .0 10 0 .0

184........................ 30,745,252 21,652,793 4,887,818 26,500,970 6,260,915 20,240,055 15,115,103 74.7 80.7

185........................ 163,352 153,583 475 154,047 16,570 137,477 137,477 10 0 .0 10 0 .0

1 86........................ 460,933 410,521 13,549 422,343 90,361 331,982 312,395 94.1 95.4

187........................ 341,556 281,435 4,877 286,312 31,273 255,039 255,039 10 0 .0 10 0 .0

188........................ 167,545 137,159 1,615 138,774 11,665 127,109 117,709 92.6 93.2

1 89........................ 60,916 28,034 198 28,200 11,206 16,994 16,994 10 0 .0 10 0 .0

190........................ 223,056 192,090 1,298 193,376 16,803 176,573 176,573 10 0 .0 10 0 .0

1 91........................ 132,781 177,274 560 177,566 42,753 134,813 94,032 69.7 77.0

1 92........................ 46,662 17,241 281 17,523 2,207 15,316 15,316 10 0 .0 10 0 .0

193........................ 794,312 774,204 150,767 924,346 245,963 678,383 578,846 85.3 89.2

194........................ 279,379 181,552 14,493 195,201 18,576 176,625 107,847 61.1 64.8

1 95........................ 455,251 369,525 228 369,135 18,052 351,083 351,083 10 0 .0 10 0 .0

196........................ 162,102 119,158 464 119,622 14,382 105,240 105,240 10 0 .0 10 0 .0

1 97........................ 3,734,288 2,859,992 90,721 2,932,099 384,977 2,547,122 1,658,928 65.1 69.7

198........................ 380,181 463,940 9,417 471,568 39,721 431,847 332,534 77.0 78.9

199........................ 1,116,010 936,507 1 , 0 1 1 935,298 48,972 886,326 736,573 83.1 84.0

2 0 0 ........................ 306,467 251,430 2,115 253,545 31,496 222,049 222,049 10 0 .0 10 0 .0

2 0 1 ........................ 97,181 84,951 1,130 86,081 11,031 75,050 75,050 10 0 .0 10 0 .0

2 0 2 ........................ 50,001 105,828 4,923 110 ,6 6 8 5,341 105,327 68,047 64.6 66.3

2 0 3 ........................ 121,341 96,106 781 96,481 16,344 80,137 80,137 10 0 .0 10 0 .0

2 0 4 ........................ 547,756 502,425 19,983 521,266 67,485 453,781 453,781 10 0 .0 10 0 .0

2 0 5 ........................ 59,993 57,911 648 58,510 3,011 55,499 49,782 89.7 90.2

2 0 6 ........................ 218,268 223,517 1,150 224,667 43,539 181,128 181,128 10 0 .0 10 0 .0

2 0 7 ........................ 735,326 624,378 1,685 625,052 18,433 606,619 457,999 75.5 76.2

1940.................. $7,959,553 $5,656,660 $589,403 $6,240,360 $1,184,673 $5,055,687 $4,439,218 8 7 .8 % 9 0 .1 %

2 0 8 ........................ 169,461 119,291 1,588 120,879 27,376 93,503 93,503 10 0 .0 10 0 .0

2 0 9 ........................ 142,671 122,929 841 123,743 27,191 96,552 96,552 10 0 .0 10 0 .0

2 1 0 ........................ 2,130,869 986,204 482,314 1,467,780 536,917 930,863 809,851 87.0 91.8

2 1 1......................... 127,588 107,135 708 107,755 24,314 83,441 83,441 10 0 .0 10 0 .0

2 1 2 ........................ 363,322 285,680 2,313 287,942 31,462 256,480 256,480 10 0 .0 10 0 .0

2 1 3 ........................ 1,820,764 1,389,834 1,373 1,391,206 144,475 1,246,731 956,241 76.7 79.1

2 1 4 ......................... 247,397 171,949 1,067 172,973 36,763 136,210 91,833 67.4 74.3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
21 5 

21 6

21 7 

21 8

21 9 

22 0

2 2 1 .....................

2 2 2 .....................

22 3 

22 4 

22 5 

22 6

194 1 

22 7 

22 8

22 9 

23 0 

23 1 

23 2 

23 3 

23 4 

194 2 

23 5 

23 6 

23 7 

23 8 

23 9 

24 0 

194 3 

24 1 

24 2 

24 3 

24 4 

194 4 

24 5 

1 9 4 5 -5 3 ....

1954-582

9 active cases.

136,490

141,701

39,960

143,105

195,387

915,431

222,582

73,832

141,322

190,114

456,851

300,706

$17,811,536

186,397

822,042

195,191

233,335

1,306,808

328,151

940,956

13,798,656

$1,603,050

92,170

129,113

148,531

394,890

579,874

258,472

$7,381,656

919,185

854,711

438,855

5,168,905

$446,774

446,774

113,194

143,690

25,693

162,822

165,776

717,386

177,755

52,584

113,437

158,937

386,625

255,739

$14,730,242

156,163

812,138

179,647

180,029

1,200,386

303,339

907,038

10,991,502

$1,816,179

164,976

364,966

217,290

325,265

537,238

206,444

$6,637,268

895,950

1,056,397

502,536

4,182,385

$455,549

455,549

N o deposit payoff cases in these years.

$16,829,820 $16,523,494

1,384

3,719

2,055

2,984

764

19,431

35,717

252

26,018

2,399

3,386

1.090

$801,390

490

4.515

1,248

1,252

5,247

2,769

5,165

780,704

$15,299

3,620

2.516

1,785

2,998

3.090

1,290

$146,176

20,609

5,716

20,188

99,663

$17,746

17,746

$235,238

114.512

147,222

27,748

164,524

166,540

736,732

212.512

52,468

138,440

161,336

390,008

256,040

$15,159,843

156,402

811,381

180,895

181,035

1,203,990

304,794

911,613

11,409,733

$1,827,869

168,123

367,483

218,871

328,245

539,243

205,904

$6,766,296

913,369

1,062,113

522,574

4,268,240

$473,285

473,285

$16,758,731

17,633

24,222

999

18,305

12,452

87,576

78,715

2,663

42,666

12,551

27,943

30,450

$1,202,540

21,008

198,517

19,000

52,298

83,912

42,827

39,181

745,797

$163,058

26,625

18,265

11,280

25,927

73,579

7,382

$691,711

88,458

183,301

48,277

371,675

$35,018

35,018

$4,593,479

96,879

123,000

26,749

146,219

154,088

649,156

133,797

49,805

95,774

148,785

362,065

225.590

$13,957,303

135,394

612,864

161,895

128,737

1,120,078

261,967

872,432

10,663,936

$1,664,811

141,498

349,218

207.591

302,318

465,664

198,522

$6,074,585

824,911

878,812

474,297

3,896,565

$438,267

438,267

$12,165,252

61,731

94,169

26,749

127,795

117,023

649,156

106,322

49,805

82,127

148,785

362,065

225,590

$13,710,571

135,394

391,792

161,895

121,458

1,120,078

253,794

862,224

10,663,936

$1,365,504

76,179

152,887

169,934

302,318

465,664

198,522

$5,937,717

824,911

794,227

422,014

3,896,565

$394,440

394,440

$11,097,583

63.7 69.3

76.6 80.4

1 0 0 .0 10 0 .0

87.4 88.8

75.9 77.7

1 0 0 .0 10 0 .0

79.5 87.1

10 0 .0 10 0 .0

85.8 90.1

1 0 0 .0 10 0 .0

1 0 0 .0 10 0 .0

10 0 .0 10 0 .0

98.2% 98.4%

10 0 .0 10 0 .0

63.9 72.8

10 0 .0 10 0 .0

94.3 96.0

10 0 .0 10 0 .0

96.9 97.3

98.8 98.9

10 0 .0 10 0 .0

8 2.0 % 83.6%

53.8 61.1

43.8 46.6

81.9 82.8

10 0 .0 10 0 .0

10 0 .0 10 0 .0

10 0 .0 10 0 .0

9 7.7% 98.0%

10 0 .0 10 0 .0

90.4 92.0

89.0 90.0

10 0 .0 10 0 .0

90.0% 90.7%

90.0 90.7

9 1.2% 93.6%

a 4. 1 shown by books of banks after adjustments, if any, for liabilities or overdrafts discovered subsequent to closing. Excludes charged-off and other nonbook assets. Differs from

^a-i ir?L previous Annual Reports because of corrections for spurious assets and errors on the books of the bank. Corrections have been made for cases in the years 1934-39

and 1942, with the largest change resulting from the elimination of over $ 1 million of spurious notes in case 25. The effect of all corrections is to reduce total assets of terminated deposit payoff cases as shown in previous Annual Reports (see Table 1 2 2 , Annual Report for 1957) from $140,290,048 to $139,187,686, as shown in this table.

O PERATIONS TO PROTECT D EP O SIT O R S, 1934-1958— PAYOFF CASES 59

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 24. Num ber o f D epositors, D ep osit P a y o ff C ases, 1934-1958

DATA AS OF TERMINATION OF RECEIVERSHIP1

Depositors fully protected by offset,

security, preference, or insurance

Other depositors

Owners of— Full recovery—

Total Paid by

offset8

Paid by

security or

preference8

Paid by

FD IC

Not

claimed

from

FDIC

Deposits

in excess

of insured

maximum

Restricted

deposits4

Total

other

depositors

Available

through

receivers'

dividends5

Not

available

397,317

377,208

20,109

35,491

33,244

2,247

963

190

2,783

2,714

69

303,415

285,988

17,427

10,895

1,175

7,204

170

55,628

55,262

366

2,247

2 , 1 1 1

136

3.403

3.403

5,650

5,514

136

2,782

2,743

39

2 ,8 6 8

2,771

97

15,215

1,811

9,782

182

1 2

3

3,345

443

14

5

538 552

5

208

5

344

259 3 2,316 2 2 2

1 1 1

297 43 254 5 5 5

790 1 2 0 629 41

219 34 169 16 1 1 1

1,330

706

150 2 805 373 2 2 2

130 433 143 4 336 340 340

98 26 3 56 13 197 197 197

31,846

4,203

1,815

403

2,820

92

71 23,001

3,717

1,103

396

5,954

394

242

6

243 485

6

247 238

6

232 480 7 7 7

7

1,167

437

169 8 745 245 5 5 5

27 3 293 114 3 3 3

364 39 1 301 23

1,370

338

1 1 0 1 687 572

43 4 288 3 1 1 1

654 1 0 1 2 522 29 2 2 2

4,339 298 1 3,512

381

528 1 2 1 2 1 2

509 53 1 74 1 1 1

290 2 1 261 8

1,648

979

186 5 1,047

802

410 3 3 3

126 2 49 1 1 1

705 130 2 516 57 1 1 1

9,105

248

809 6 5,714

208

2,576

2 2

192 192 192

18

193 23 1 161 8 1 1 1

472 46 17 386 23

497 61 8 419 9 1 1 1

699 131 4 529 35 5 5 5

724 58 554 1 1 2 1 1 1

573 16 425 132

114 31 5 34 44 243 243 243

CD

o

Year and

case

number

Total

number of

depositors

Percent of total

number of depositorsFully protected by

offset,

security,

preference,

or

insurance

With full

recovery

available

after

receivers’

dividends

T o ta l, all cases

I Cases, 1934-53.

Cases, 1954-58,

193 4 

1 ..............

2 .......................

3 

4 

5 

6

7 

8

9 .......................

193 5 

1 0 .......................

1 1 .......................

1 2 .......................

1 3 

1 4 

1 5 

1 6

1 7 

1 8

1 9 

2 0

2 1 .......................

2 2 .....................

2 3 

2 4 

2 5 

2 6

2 7 

2 8

2 9 

3 0 

3 1 

3 2 

402,967

382,722

20,245

15,767

1,816

9,784

182

302

790

220

1,332

1,046

295

32,331

4,209

1,822

403

1,172

440

364

1,370

339

656

4,351

510

290

1,651

980

706

9,297

248

194

472

498

704

725

573

357

98.6%

98.6

99.3

96.5 %

99.7

99.98

100.0

98.3

100.0

99.5

99.8

67.5

33.2

98.5%

99.9

99.6

100.0

99.6

99.3

100.0

100.0

99.7

99.7

99.7

99.8

100.0

99.8

99.9

99.9

97.9

100.0

99.5

100.0

99.8

99.3

99.9

100.0

31.9

99.3%

99.3

99.5

97.8%

100.0

99.98

100.0

100.0

100.0

100.0

99.8

67.5

100.0

99.3%

99.9

99.6

100.0

99.6

99.3

100.0

100.0

99.7

99.7

99.7

100.0

100.0

99.8

100.0

100.0

97.9

100.0

99.5

100.0

99.8

99.3

100.0

100.0

100.0

Cl

o

»

o

w

>

HH

o

125FEDERAL DEPOSIT IN S U R A N C E

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1936................. 43,225 41,087

3 4 .......................... 1,913 1,913

3 5 .......................... 1,537 1,537

3 6 .......................... 604 601

3 7 .......................... 734 733

3 8 .......................... 2,867 2,857

3 9 .......................... 424 422

4 0 .......................... 408 408

4 1 .......................... 76 76

4 2 .......................... 377 376

4 3 .......................... 895 892

4 4 .......................... 816 811

4 5 .......................... 257 256

4 6 .......................... 401 398

4 7 .......................... 159 159

4 8 .......................... 468 466

4 9 .......................... 52 52

5 0 .......................... 228 228

5 1 .......................... 357 1 1 2

5 2 .......................... 444 444

53.......................... 1,461 1,461

5 4 .......................... 362 362

5 5 .......................... 185 185

56 .......................... 230 230

5 7 .......................... 1,807 1,798

5 8 .......................... 701 698

5 9 .......................... 385 385

6 0 .......................... 797 793

6 1 .......................... 227 226

6 2 .......................... 3,329 3,306

6 3 .......................... 3,597 3,571

6 4 ......................... 346 346

6 5 .......................... 659 659

6 6 .......................... 740 740

6 7 .......................... 1,131 1,131

6 8 .......................... 319 318

6 9 .......................... 3,073 1,390

7 0 .......................... 6,605 6,572

7 1 .......................... 633 628

7 2 .......................... 594 588

7 3 .......................... 1,609 1,600

7 4 .......................... 249 2 1 2

7 7 .......................... 1,169 1,147

1937................. 74,148 73,956

7 5 .......................... 492 491

7 6 .......................... 427 427

7 8 .......................... 173 172

7 9 .......................... 1,285 1,281

8 0 .......................... 698 698

8 1 .......................... 238 237

8 2 .......................... 419 419

8 3 .......................... 2,951 2,949

8 4 .......................... 2,595 2,579

8 5 .......................... 993 991

8 6 .......................... 645 545

4,590 82 30,181 6,234

180

2 788 943

117 1,383 37

116 467 18

63

2 545 123

406 37 2,353 61

55 344 23

93

1 309 5

17 56 3

76 239 61

1411 673 77

129 3 448 231

36

2 205 13

50 347

1

43

1 98 17

158

2 252 54

1 35 16

2 1 125 82

30 46 36

89

1 350 4

165 678 618

62 233 67

38 129 18

44 182 4

14 1,679 105

166 500 32

74 288 23

109 3 604 77

52 130 44

1 1 0 2,597 599

253

i 2,860 457

64 280

2

72

2 486 99

125

1 565 49

196 3 801 131

86 218 14

511 506 832

284 17 5,265 1,006

152 457 19

158 i 418 1 1

272

1 1,195 132

1 2 186 14

2 1 0 861 76

7,546 115 56,581 9,714

58 430 3

35 352 40

26 133 13

1872 1,007 85

2 2

1 643 32

551 163 18

78

1 323 17

2522 1,959 736

349

2 1,656 572

250

1 705 35

91 276 178

178 1,960 2,138 1

10241

23

2613

335692

22

19212

162

245 245

1,680

35

1

1,683

33569

37

22

1921

1,714

2

162

10

1,683

33

4242

‘ 245*41

23

26

37

22

1591

95.1%

100.0

100.0

99.5

99.9

99.7

99.5

10 0 .0 

10 0 .0

99.7

99.7

99.4

99.6

99.3

100.0

99.6

10 0 .0 

10 0 .0

31.4

10 0 .0 

10 0 .0 

10 0 .0 

100.0

10 0 .0

99.5

99.6

100.0

99.5

99.6

99.3

99.3

10 0 .0 

10 0 .0 

10 0 .0 

10 0 .0

99.7

45.2

99.5

99.2

99.0

99.4

85.1

98.1

99.7%

99.8

100.0

99.4

99.7

100.0

99.6

100.0

99.9

99.4

99.8

100.0

99.0%

10 0 .0 

10 0 .0

99.5

99.9

100.0

99.5

10 0 .0 

10 0 .0 

10 0 .0

99.7

100.0

99.6

99.3

100.0

99.6

10 0 .0 

10 0 .0

31.4

10 0 .0 

10 0 .0 

10 0 .0 

10 0 .0 

10 0 .0

99.5

99.6

100.0

99.5

99.6

99.3

99.3

10 0 .0 

10 0 .0 

10 0 .0 

10 0 .0

99.7

100.0

99.5

99.2

100.0

100.0

85.1

98.1

99.8%

99.8

100.0

99.4

99.7

100.0

99.6

10 0 .0 

10 0 .0

99.4

99.8

100.0

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 61

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 24. Num ber op D epositors, D ep osit P a y o ff C ases, 1934-1958— Continued

DATA AS OF TERMINATION OF RECEIVERSHIP1

Total

number of

depositors

Depositors fully protected by offset,

security, preference, or insurance

Total

Paid by

offset2

Paid by

security or

preference3

Paid by

FD IC

N ot

claimed

from

FD IC

622 619 116 443 60

285 284 52 2 2 0 1 2

257 256 52 3 191 10

350 350 81 237 32

141 137 1 1 1 1 25

277 275 14 205 56

1,070 1,068 272 3 756 37

1 , 0 1 1 1 , 0 1 0 288 2 679 41

1,207 1,205 16 13 997 179

598 594 118 439 37

3,424 3,418 739 1 2 1,736 931

899 897 115 1 728 53

1,095 1,095 172 2 740 181

274 274 29 2 2 0 25

1,235 1,232 279 3 850 10 0

321 321 49 2 2 206 44

2,776 2,756 363 2 ,1 0 2 291

3,205 3,201 435 6 1,882 878

789 789 193 2 534 60

2,744 2,709 157 9 2,273 270

4,226 4,187 461 6 3,399 321

521 521 1 1 0 341 70

18,973 18,972 182 6 16,013 2,771

5,531 5,530 41 4,920 569

194 193 39 153 1

324 324 53 255 16

707 703 95 563 45

301 300 53 1 244 2

1,846 1,839 172 1 1,366 300

398 397 52 329 16

280 279 16 256 7

1,969 1,966 571 1,337 58

560 560 96 1 375 88

595 593 78 1 488 26

349 349 42 288 19

666 666 170 1 456 39

1,787 1,774 215 6 1,513 40

1,272 1,271 108 4 901 258

253 253 48 188 17

05

to

Year and

case

number

Other depositors

Owners of—

Deposits

in excess

of insured

maximum

Restricted

deposits4

Total

other

depositors

Full recovery—

Available

through

receivers'

dividends5

N ot

available

Percent of total

number of depositors—

Fully protected by

offset,

security,

preference,

With full

recovery

available

after

receivers’

dividends

87

88

89

90

91

92

93

94

95

96

97

98

99

10 0 

1 0 1 

1 0 2

103

104

105

106

107

108

109

110 

111

112

113

114

115

116

117

118

119

1 2 0 

1 2 1 

1 2 2

123

124

125

99,

100

97,

99

99

99

99

99

99

99

100,

100

99

100

99,

99

100,

98,

99,

100.

99,

99,

99,

100,

99,

99,

99,

99-

100

99

100

100

99

99

100

100.0

99.6

99.6

100.0

97.2

99.3

100.0

99.9

99.8

100.0

100.0

99.8

100.0

100.0

99.8

100.0

99.3

99.9

100.0

98.7

99.1

100.0

99.99

99.98

99.5

100.0

59.4

100.0

99.6

100.0

99.6

99.8

100.0

99.7

100.0

100.0

100.0

100.0

100.0

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1938.................. 44,288 43,521 5,797 1,786 31,380 4,558

126........................ 5,764 5,753 390 1,624 2,984 755

127........................ 422 421 107 310 4

128........................ 531 529 185 306 38

129........................ 258 258 40 2 2 1 2 4

1 30........................ 732 728 106 512 1 1 0

131........................ 763 763 95 1 586 81

1 3 2 ........................ 397 397 16 1 356 24

133........................ 1,191 1,167 255 2 853 57

13 4 

13 5 

730

1 0

730

10

175 461

9

94

1

136........................ 260 260 36 2 2 0 4

137........................ 351 351 78 266 7

1 3 8........................ 203 203 36 1 166

1 3 9 ........................ 612 612 83 467 62

1 4 0 ........................ 354 354 53 299 2

141........................ 555 555 34 514 7

142........................ 490 489 10 2 336 51

143........................ 2,066

811

2,066

811

149 1,522

666

395

144........................ 114 8 23

145........................ 106 105 1 1 88 6

146........................ 743 742 161 2 460 119

147........................ 478 473 51 6 413 3

148........................ 697 697 78 2 2 517 80

149........................ 305 299 18 2 269 10

150........................ 278 278 58 1 179 40

151........................ 632 627 126 425 76

152........................ 469 469 57 2 404 6

153........................ 437 436 80 7 342 7

154........................ 576 574 108 424 42

155........................ 391 389 95 266 28

156........................ 553 550 10 0 2 438 10

157........................ 6,007 5,999

653

238 5,442

499

319

158........................ 655 124 3 27

159........................ 2,163 2,150 151 42 1,929 28

160........................ 339 339 39 294 6

161........................ 748 748 131 450 167

162........................ 3,025 2,375 335 5 1,315 720

163........................ 709 709 52 392 265

164........................ 1,660 1,659 321 2 1,025 311

165........................ 307 307 43 8 247 9

166........................ 503 502 132 3 338 29

167........................ 301 296 47 231 18

168........................ 373 360 85 6 255 14

169........................ 304 304 70 2 2 1 13

170........................ 546 546 1 1 2 1 383 50

171........................ 1,213 1,209 245 3 883 78

172........................ 2 2 2 2 2 2 35 18 167 2

173........................ 794 794 146 641 7

174........................ 303 303 50 9 203 41

175........................ 1,951 1,950 444 3 1,195 308

1939.................. 90,169 89,328 6,052 93 71,384 11,799

176........................ 1,078 1,074 104 7 933 30

177........................ 852 843 77 1 710 55

178........................ 913 913 192 4 707 10

105

1 1

1

2

662 767

1 1

1

2

52 715

1 1

1

2

4 4 4

24 24 24

1 1 1

1

1

5

1

1

5

1

1

5

6 6 6

5 5 5

1

2

2

3

8

2

13

1

2

2

3

8

2

13

1

2

2

3

8

2

13

650 650 650

1 1 1

1

5

1

1

5

13

1

5

1 2 13

4 4 4

1

841

4

9

1

841

4

9

1

77170

4

9

98

99

99

99

100

99

100

10 0

98

10 0 

10 0 

10 0 

10 0 ,

10 0 

10 0 

10 0 

10 0

99

10 0 ,

10 0 ,

99

99

99

10 0

98,

10 0 ,

99

10 0 ,

99

99

99

99

99

99

99

10 0

10 0 ,

78,

1 0 0 ,

99,

100,

100,

100

99

10 0 ,

100,

100,

99,

9 9 .1 %

99.6

98.9

100.0

98

99

99

99

100

100

10 0

10 0

10 0

100

100

100

100,

100,

100,

100,

100,

99,

1 0 0 ,

100,

99,

100,

99,

100,

98,

1 0 0 ,

1 0 0 ,

1 0 0 ,

99,

99,

1 0 0 ,

1 0 0 ,

99,

99,

99

1 0 0 ,

1 0 0 ,

78,

10 0 .

99,

100,

99,

98,

1 0 0 ,

1 0 0 ,

1 0 0 ,

99,

1 0 0 ,

100. 

1 0 0 .

99.

4%

O

hj

H

>

a

o

3

GG

H

O

w

o

H

tel

n

H

o

tel

•rj

o

ui w

H

O

W

U2

9 9 .1 %

100.0

98.9

100.0

I, 1934-1958----------------------------------------------------------------------

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 24. N um ber o f D epositors, D ep osit P a y o ff Cases, 1934-1958—Continued

DATA AS OF TERMINATION OF RECEIVERSHIP1 os

Year and

case

number

Total

number of

depositors

Depositors fully protected by offset,

security, preference, or insurance

Total Paid by

offset2

Paid by

security or

preference*

Paid by

FD IC

Not

claimed

from

FD IC

Other depositors

Owners o fDeposits

in excess

of insured

maximum

Restricted

deposits4

Total

other

depositors

Full recovery—

Available

through

receivers*

dividends5

Not

available

Percent of total

number of depositors—

Fully protected by

offset,

security,

preference,

or

insurance

With full

recovery

available

after

receivers’

dividends

1 7 9 ...

1 8 0 ..

1 8 1 ...

1 8 2 ...,

1 8 3 ...

1 8 4 ....

1 8 5 ...

1 8 6 ...

1 8 7 ...

1 8 8 ...

1 8 9 ...

1 9 0 ...

1 9 1 ...

1 9 2 .. .

1 9 3 .. .

1 9 4 ...

1 9 5 ...

1 9 6 ...

1 9 7 ...

1 9 8 ...

1 9 9 ...

2 0 0 . . .

2 0 1 . . .

2 0 2 . . .

2 0 3 ...

2 0 4 ...

2 0 5 ...

2 0 6 ...

2 0 7 ...

1940

2 0 8 ...

2 0 9 ...

2 1 0 . . .

2 1 1 . . .

2 1 2 . . .

2 1 3 ...

2 1 4 ...

559

477

520

1,093

1,352

37,042

746

3,574

1,061

501

98

600

523

182

2,571

821

991

393

19,173

1,782

4,789

1,546

257

439

583

2,992

183

786

1,692

20,667

707

825

4,237

616

1,068

2,660

457

559

476

520

1,093

1,326

36,351

745

3,569

1,057

500

98

597

518

182

2,544

821

981

392

19,160

1,772

4,785

1,541

254

438

583

2,980

183

785

1,6 8 8

20,574

704

825

4,235

616

1,064

2,619

457

92

1 0 1

94

256

51

647

186

583

36

111

17

99

120

29

575

64

64

48

365

186

355

182

40

37

103

816

54

179

189

2,716

109

193

179

159

271

178

26

189

376

344

400

596

1,252

31,971

537

2,187

988

374

75

491

365

142

1,846

679

881

275

14,592

1,420

3,785

1,165

204

360

386

1,344

103

582

1,314

15,579

513

603

3,841

441

760

2,271

402

91

28

26

238

23

3,729

20

796

23

13

6

3

32

11

1 2 1

78

35

67

4,201

166

645

192

40

68

820

26

2 1

185

2,090

82

28

215

16

32

159

15

26

691

1

5

4

1

27

1 2

26

691

1

5

4

1

27

12

41

3

691

“ ' 5

‘ " 1

52

10 0 .0

99.8

10 0 .0 

10 0 .0

98.1

98.1

99.9

99.9

99.6

99.8

10 0 .0

99.5

99.0

100.0

98.9

10 0 .0

99.0

99.7

99.9

99.4

99.9

99.7

98.8

99.8

100.0

99.6

100.0

99.9

99.8

99.6%

99.6

100.0

99.95

100.0

99.6

98.5

100.0

100.0

99.8

10 0 .0 

10 0 .0 

10 0 .0

98.1

100.0

99.9

10 0 .0

99.8

10 0 .0 

10 0 .0

99.0

10 0 .0

98.9

10 0 .0 

10 0 .0 

10 0 .0

99.9

99.4

99.9

10 0 .0 

10 0 .0

99.8

100.0

100.0

100.0

100.0

99.7%

100.0

100.0

99.95

100.0

100.0

98.5

100.0

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
21 5 

2 1 6

21 7 

2 1 8

21 9 

2 2 0

2 2 1 .....................

2 2 2 .....................

22 3 

22 4 

22 5 

2 2 6

194 1 

22 7 

2 2 8

22 9 

23 0 

23 1 

23 2 

23 3 

23 4 

194 2 

23 5 

23 6 

23 7 

23 8 

23 9 

24 0 

194 3 

2 4 1 

2 4 2 

2 4 3 

2 4 4 

194 4 

24 5 

1 9 4 5 -1 9 5 3 ..

1954-19581

9 active cases.

434

387

191

1,204

774

1,8 8 8

1,289

391

746

879

773

1,141

38,594

962

2,535

538

865

6,327

1,567

1,671

24,129

5,717

699

993

448

596

1,051

1,930

16,917

2,680

2,684

879

10,674

899

434

385

190

1 , 2 0 1

773

1,8 6 8

1,286

391

746

876

765

1,139

38,338

962

2,518

533

865

6,311

1,567

1.667

23,915

5,692

698

990

446

588

1,040

1,930

16,767

2.667

2,674

863

10,563

884

42

149

26

234

2 1 2

149

239

53

74

2 1 1

81

131

1,480

148

157

94

146

285

140

1 1 2

463

66

118

86

33

130

30

717

309

243

46

119

10 0

10 0

N o deposit payoff cases in these years.

20,245 20,109 2,247

116

1 2

1

40

2

27

94

6

50

37

1

232

65

7

160

69

366

209

152

704

502

1,566

881

273

390

534

603

568

29,629

653

1,388

408

578

5,727

1,045

1,449

18,383

r$

4,183

449

787

349

466

846

1,286

12,414

1,993

2,189

770

7,462

761

761

17,427

18

25

1 2

260

59

151

155

58

282

15

69

439

7,189

159

946

33

138

293

381

106

5,133

952

177

85

1 1

39

27

613

3,404

365

177

40

2,822

23

23

366

3

8

2

256

16

4

214

150

13

10

16

1 1 1

15

15

136

3

8

2

256

16

4

214

150

13

10

16

1 1 1

15

15

136

3

8

2

235

214

19

1 1

124

13

1 1 1

39

26

15

15

97

10 0 .0 10 0 .0

99.5 99.5

99.5 10 0 .0

99.8 99.8

99.9 99.9

98.9 10 0 .0

99.8 99.8

10 0 .0 10 0 .0

10 0 .0 10 0 .0

99.7 10 0 .0

99.0 10 0 .0

99.8 10 0 .0

99.3% 99.9%

10 0 .0 10 0 .0

99.3 99.3

99.1 10 0 .0

10 0 .0 10 0 .0

99.7 10 0 .0

10 0 .0 10 0 .0

99.8 99.8

99.1 10 0 .0

99.6% 99.9%

99.9 99.9

99.7 99.7

99.6 99.6

98.7 10 0 .0

99.0 10 0 .0

10 0 .0 10 0 .0

99.1% 99.8%

99.5 10 0 .0

99.6 99.6

98.2 98.2

99.0 10 0 .0

98.3% 98.3%

98.3 98.3

99.3% 99.5%

1 For active cases data are estimates, as of December 31, 1958, of final results at termination of receivership. All cases during the twenty-year period 1934-53 (cases numbered

1-245) have been terminated; all cases during the five-year period 1954-58 (cases numbered 246-50, 252, 254-56) are active. There were no deposit payoff cases in the final 9 years

(1945-53) of the first period, or in the first year (1954) of the second period. Combined totals, rather than individual case data, are shown for active cases.

8 Includes only those depositors whose claims were offset in full. Nearly all of these depositors would have been protected by insurance had they not had offsets.

* Some of these depositors were paid-in part by security or preference and in part by the Corporation. If their deposits were in excess of the insurance maximum, so that their

full protection was dependent upon security or preference, they are included in this column. If their deposits were les3 than the insurance maximum, so that they would have been

fully protected even in the absence of security or preference, they are included among those paid by the Federal Deposit Insurance Corporation.

« Of these 3,403 depositors, 1,361 also had insured deposits. Also includes depositors of one bank, case number 162, a portion of whose deposits were uninsured due to termination

of insurance prior to suspension.

6 Whether or not claimed against receivers.

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— PAYOFF CASES 65

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 25. D ep osit P ro tectio n and R ecovery, D ep osit P a y o ff Cases, 1934-1958

DATA AS OF TERMINATION OF RECEIVERSHIP*

a

05

Year and

case

number

Total

deposits

Deposits protected by offset, security, preference, or insurance

Paid by

offset

Paid by

security

or

preference2

Insured

Paid by FD IC on- Not claimed from FD IC

Fully

insured

accounts

Accounts

exceeding

insurance

maximum

Paid by

receiver4 Unpaid

Other deposits

In excess of

insurance maximum

Paid by

receiver

Unpaid

Restricted

Paid by

receiver

Unpaid

Total deposits paid

Amount Percent

T o ta l, all cases..

Cases, 1934-53. .

Cases, 1954-58. .

193 4 

1 ..........................

2 ..........................

3 

4 

5 

6

7 

8

9 ..........................

193 5 

1 0 ..........................

1 1 ..........................

1 2 ..........................

1 3 

1 4 

1 5 

1 6

1 7 

1 8

1 9 

2 0

2 1 ..........................

2 2 ..........................

2 3 

2 4 

2 5 

2 6

2 7 

2 8

2 9 

3 0 

3 1 

3 2 

$126,113,582

109,590,088

16,523,494

$1,968,479

238,624

1,059,763

41,644

68,962

68,148

31,733

214,401

172,478

72,726

$9,090,656

589,684

384,064

135,582

325,204

181,769

74,979

107,694

96,071

218,652

721,565

128,102

47,551

132,280

265,885

199,662

4,677,700

28,894

48,778

73,608

188,340

229,148

125,302

73,530

36,612

$8,097,368

6,309,716

1,787,652

$90,116

12,244

41,129

742

368

4,078

2,793

14,362

8,475

5,925

$561,334

16,300

26,917

12,861

6,130

1,460

8 ,2 2 1

2,506

8,174

121,113

10,553

2,058

10,375

10,224

11,523

274,830

848

3,599

5,425

10,672

11,932

3.252

1.252

1,109

$7,348,238

4,961,974

2,386,264

$831,890

117,985

692,603

3,000

8,745

62

9,495

$538,889

57,031

54,167

40,083

3,133

11,906

3,543

27,945

16,466

3,180

9,557

63,026

15,248

213,958

10,243

5,009

3,422

155

817

$86,236,641

76,501,488

9,735,153

$883,506

90,124

307,354

37,902

66,094

63,842

22,630

178,796

100,563

16,201

$4,815,513

529,925

250,602

135,551

192,615

115,943

70,344

86,837

78,321

160,945

378,166

108,044

45,413

94,985

185,892

165,478

1,561,749

27,876

27,935

63,162

168,293

152,899

113,093

71,872

29,573

$11,902,500

10,542,500

1,360,000

$57,500

12,500

10 ,0 0 0

$483,499

477,642

5,857

$2,669

904

1,722

$178,084

175,331

2,753

$2,224

10 0

1 ,0 2 0

$9,071,109

7,950,375

1,120,734

$16,841

4,767

1,280

$1,859,831

1,734,750

125,081

$13,765

$893,978

893,978

$64,183

$42,334

42,334

$5,785

4,655

5,000

10 ,0 0 0

20 ,0 0 0

$1 ,2 10 ,0 0 0

30.000

35.000

4

39

$3,215

115

25.000

15.000

5.000

10 ,0 0 0 

60,000

5.000

1

47

15,000

5.000

5.000

960,000

......... 5,000

2,569

170

5.000

25,000

5.000 313

228

598

272

2,500

1,300

9,494

1,900

7,210

$20,933

2,078

704

31

1,360

397

42

730

1

56

512

$1,523,165

' 6,992

$412,604

11,266

6,818

20,617

41,066

$1,798

5,785

$3,205

39,201

4,216

80

1,946

90

969

11,172

2,456

87,605

1,278

6,700

9,075

57,703

1,653

1,444

1,391,710 261,712

60

1 2

6

171

1,718 223

406

1 1 0

783

23,882

3,644

164

15,109

1,798 3,205

$124,033,333 98.4%

107,637,673 98.2

16,395,660 99.2

$1,946,705 98.9%

238,524 99.96

1,054,088 99.5

41,644 10 0 .0

68,962 10 0 .0

67,920 99.7

31,727 99.98

211,903 98.8

159,211 92.3

72,726 10 0 .0

$8,653,914 9 5.2%

576,340 97.7

376,542 98.0

135,551 99.98

284,643 87.5

177,156 97.5

74,937 99.9

106,964 99.3

89,370 93.0

209,521 95.8

663,350 91.9

128,102 10 0 .0

47,471 99.8

129,917 98.2

265,795 99.97

198,693 99.5

4,404,816 94.2

28,894 10 0 .0

48,495 99.4

73,596 99.98

188,170 99.9

213,868 93.3

125,302 10 0 .0

73,124 99.4

33,297 90.9

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1936.

3 4 

3 5 

3 6 

3 7 

3 8 

3 9 

4 0 

4 1 

4 2 

4 3 

4 4 

4 5 

4 6 

4 7 

4 8 

4 9 

5 0 

5 1 

5 2 

5 3 

5 4 

5 5 

5 6 

5 7 

5 8 

5 9 

6 0

6 1 ..........

6 2 ..........

6 3 

6 4 

6 5 

6 6

6 7 

6 8

6 9 

7 0 

7 1 

7 2 

7 3 

7 4 

7 7 

1937.

7 5 

7 6 

7 8 

7 9 

8 0

8 1 ..........

8 2 ..........

8 3 

8 4 

8 5 

8 6

$11,240

95,

219!

143

142

770;

92

515

74

198

180

61

133

2 2

150

1 1

31

52

97

103

43

49

53

410

171

49

296

54

1,117

1,062

57

71

128

290

51

996

2,079

207

293

491

45

582

,967

,043

,065

,2 2 1

,448

,994

,604

,077

,088

,561

,207

,936

,742

,659

,470

,028

,373

,514

,639

,421

,058

,489

,831

,0 0 1

,373

,264

,557

,755

,522

,196

,319

,631

,266

,185

,440

,772

,375

,329

,194

,304

,910

,605

,501

$14,959,950

138,842

84,021

50,369

320,462

164,121

61,737

112,175

417,684

725,484

330,260

56,782

$660,357

5,180

7,697

5,117

3,382

68,109

4,855

4,007

80

5,458

11,694

6,954

3,362

6,592

798

22,764

24

724

1,216

12,590

10,628

2,493

1,889

2,192

15,879

8.841

3,297

16,033

3,624

26,094

47,901

3,610

2,746

7,344

15,149

4,676

41,807

171,055

22,137

17,245

33,120

1.841

30,153

$1,084,546

4,322

1,977

1,767

18,655

9,791

1,799

2,928

44,582

87,959

59,117

9,122

$653,240

29,940

8,000

27,818

59,633

152

34,137

17,631

3,838

4,824

2,505

7,088

25,946

500

1821

48,968

12,039

316,551

.........500

49,409

3,575

$1,134,530

2,113

22,418

19,786

3,311

4,007

452

55,063

7,500

$7,165,

58,

2 1 0,

103,

105,

471,

7o;

46! 5

60

134

78

4o;

1 0 7;

16

79

1 1 

309

11

89

40

47

50

268

139

46

2 2 2

41

891

706

53

68

12 0

226

41

178

1,254

113

188

281

27

345

,565

,174

,996

,870

,838

,768

,739

,914

,007

,876

,599

,947

,674

,614

,837

,324

,275

,652

,642

,711

,575

,886

,903

,801

,964

,130

,225

,735

,494

,488

,427

,901

,202

,672

,037

,257

,804

,018

,563

,084

,614

,124

,204

$11,084,561

129,466

81,974

41,401

257,758

134,270

51,454

105,217

349,536

424,164

238,498

47,360

$890,000

15.000

5,000

50.000

10 .0 0 0

5.000

15.000

25.000

5.000

15.000

10 .0 0 0

45.000

15.000

* 20 ,0 0 0

5,000

115.000

130.000

5.000

15.000

165.000

25.000

30.000

45.000

10 .0 0 0

1 1 0 .0 0 0

$960,000

5.000

5.000

20 ,0 0 0

5.000

10 ,0 0 0

80,000

10 ,0 0 0

$11,584

1,525

......... 29

410

......... 2341

69

31

......... 51

152

74

20

113

32

' ’ 1 1 0

398

331

18

35

105

35

3,138

1,874

12 07

168

286

31

1,752

65

860

$36,886

1 2

70

23

898

255

1 1 1

23

4,355

193

300

$893,074 $154,970 $773,793 $16,178

5,437 5,768

121,346

6,248 739

3,090

1,994

51,810

1,371

4,108

657

7,446

343

23,488 11,484

29,215 12,453

64,326

7,093

14,395

1,065

9,817

3,736

54,589

168,961

2,119

630

26,887

1,961

498

3,724

128,601

41,664

57,468

81,431

234

52,040

$534,452

14

310

742,358

35,998

4,106

393

40,669

$109,624

28

2 ,2 2 0 3,725

45

549

2 0

184

25 37

7,899

66,672

14,580

6,634

372

$11,058,235 9 8 .4 %

93,518 98.4

219,065 10 0 .0

137,424 96.0

142,038 99.7

770,994 10 0 .0

91,842 99.2

51,073 99.99

5,087 99.98

74,492 99.9

197,519 99.7

180,936 10 0 .0

54,245 87.9

133,316 99.7

22,470 10 0 .0

138,392 92.2

11,299 99.3

31,494 99.9

40,073 76.1

97,389 99.97

103,058 10 0 .0

43,379 99.7

49,792 99.9

52,993 99.98

395,647 96.4

170,181 99.4

49,522 99.9

294,531 99.3

53,857 98.8

1,087,171 97.3

1,058,484 99.6

57,511 99.8

71,259 99.99

128,017 99.9

290,154 99.9

51,431 99.3

996,375 10 0 .0

2,041,579 98.2

203,023 98.0

293,304 10 0 .0

491,910 10 0 .0

41,419 90.8

540,972 92.9

$14,813,440 9 9 .0 %

138,802 99.97

83,951 99.9

50,326 99.9

319,380 99.7

163,866 99.8

61,589 99.8

112,152 99.98

417,684 10 0 .0

714,495 98.5

329,695 99.8

56,482 99.5

O

hj HW>go

w.

►3O

hj WOH

tel ou

tel

hj O

00w

H3OW

GQ1934-1958— PAYOFF CASES 67

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 25. D e p o sit P ro te ctio n and R ecovery, D ep osit P a y o ff Cases, 1934-1958—Continued

DATA AS OF TERMINATION OF RECEIVERSHIP1

Year and

case

number

Total

deposits

Deposits protected by offset, security,

Paid by

offset

Paid by

security

or

preference5

Insured

Paid by FD IC on— 8

Fully

insured

accounts

Accounts

exceeding

insurance

maximum

Not claimed from FD IC

Paid by

receiver4 Unpaid

Other deposits

In excess of

insurance maximum

Paid by

receiver

Unpaid

Restricted

Paid by

receiver

Unpaid

Total deposits paid

Amount Percent

87

88

89

90

91

92

93

94

95

96

97

98

99

10 0 

1 0 1 

10 2

103

104

105

106

107

108

109

1 1 0 

1 1 1 

1 1 2

113

114

115

116

117

118

119

1 2 0 

1 2 1 

1 2 2

123

124

125

141,010

60,739

87,713

64,080

70,924

85,324

302,244

224,979

245,154

188,823

499,745

212,969

205,000

54,107

190,075

63,484

938,303

543,721

143,630

1,990,692

1,528,475

76,425

1,343,347

364,605

38,532

77,662

280,038

102,778

406,386

72,079

35,106

391,469

109,164

221,834

51,942

78,729

733,095

188,567

85,064

6,490

2,411

4,648

3,408

1,651

2,198

16,431

18,458

1,478

8,457

56,870

18,360

14,894

7,923

16,553

13,762

56,724

35,365

13,788

92,322

98,693

8,493

46,026

4,133

2,252

1 1 , 2 1 2

23,777

8,078

20,701

2,371

959

64,080

11,440

68,428

8,586

6,943

50,721

9,082

4,361

4,951

9,368

110,940

38,290

70,273

‘ 15,414

2,125

16,281

' 18,445

40

' 40,288

6,339

380,198

110,776

‘104,586

1,123

7,364

8,300

25

3,852

576

17,317

53,009

118,931

48,145

67,622

60,619

38,105

69,992

159,422

162,455

150,727

154,105

385,671

182,285

173,578

45,850

135,018

49,590

697,033

444,554

122,650

1,308,822

876,119

67,797

1,178,172

308,869

28,537

66,308

227,135

80,732

331,636

64,634

28,943

311,540

97,542

131,197

43,324

71,001

538,187

115,948

80,668

15,000

5.000

5.000

20 ,0 0 0

10 ,0 0 0

10 ,0 0 0

5,000

10 ,0 0 0

20,00 0

30.000

10 .0 0 0

15,000

10 0 ,0 0 0

20,00 0

175.000

195.000

5.000

5.000

5.000

20,00 0

5.000

35.000

5.000

5.000

15.000

10 ,0 0 0

65,000

5,000

99

183

174

490

38

557

1 1

2 , 0 1 1

1,950

270

59

3,210

81

1,366

1,538

334

177

10 2

247

2,640

1,953

3,440

598

5,503

4,723

8,580

93

8,258

1 , 1 2 2

97

3,857

29

1

1,715

31

92

2,510

2,295

853

1,801

2,669

135

9,500

2,573

1

113

334

19

763

33

194

166

157

1,149

32

208

4,123

76,072

728

5,964

326

27,463

210,176

5,086

35,042

14

4,513

2,536

49

39,517

206

7,360

1,585

9,227

41

9

309

‘ 759

1

189

6,728 480

35

60,155

4,664

140,911 99.9

60,545 99.7

87,195 99.4

64,080 10 0 .0

62,396 88.0

84,143 98.6

302,244 10 0 .0

224,801 99.9

239,931 97.9

187,285 99.2

499,745 10 0 .0

212,863 99.95

204,753 99.9

54,107 10 0 .0

189,316 99.6

63,392 99.9

929,829 99.1

541,100 99.5

142,777 99.4

1,983,805 99.7

1,490,764 97.5

76,290 99.8

1,333,798

322,515

99.3

88.5

38,325 99.5

77,549 99.9

279,395 99.8

102,759 99.98

404,864

72,046

99.6

99.95

34,911

391,114

99.4

99.9

109,007 99.9

220,205 99.3

51,910 99.9

78,521 99.7

733,095 10 0 .0

187,703 99.5

85,029 99.96

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1938. 

1 2 6 ....

12 7 

1 2 8

12 9 

13 0 

1 3 1 ....

13 2 

13 3 

1 3 4 ....

1 3 5 ....

1 3 6 ....

1 3 7 ....

1 3 8 . . ..

1 3 9 ....

140 ____

1 4 1 ....

1 4 2 ....

1 4 3 ....

1 4 4 ....

1 4 5 ....

1 4 6 ....

14 7 

14 8 

14 9 

1 5 0 ....

1 5 1 ....

1 5 2 ....

1 5 3 ....

1 5 4 . . ..

1 5 5 ....

1 5 6 ....

1 5 7 ....

1 5 8 ....

1 5 9 . . ..

160____

1 6 1 ....

162____

163____

1 6 4 ....

1 6 5 . . ..

166____

1 6 7 ....

1 6 8 . . ..

1 6 9 ....

1 7 0 ....

1 7 1 ....

1 7 2 ....

1 7 3 ....

1 7 4 . . ..

1 7 5 ....

1939.

1 7 6 . . ..

1 7 7 ....

1 7 8 ....

$1 0,,296,244

669,043

116,216

84.269

89.788

186,486

124,669

55,638

575,159

122,367

7,833

36,062

51,134

55,631

94,433

83,164

142,420

134,823

367,005

184,456

21.789

130,623

176,462

143,508

141,739

48,442

162,791

99,842

142,529

185,517

68,209

208,699

! ,479,376

214,713

841,335

79,375

94,944

277,955

53,906

210,973

52,683

139,382

118,395

112,251

51,332

67,453

313,274

39,246

100,465

30.270

308,170

$32,737,894

345,829

338,026

286,902

$524,295

29,622

15,347

6,070

2,116

7,522

8,325

793

57,877

12,388

199

1,053

3,309

990

4,820

4,279

1 ,2 2 0

6,579

12,952

5,801

4,085

7,036

6,218

9,517

4,678

5,125

11,743

9,490

10,160

7,395

6,040

10,191

33,323

11,353

41,237

7,379

4,406

29,841

2,124

17,521

2 ,2 2 0

8,269

8 ,8 88

11,170

3,134

1,694

25,414

7,677

6,583

1,078

28,044

$1,914,327

30,823

23,532

37,782

$337,473

25,677

10,362

1,481

7,337

67,270

11,813

11,916

15,449

142

2,424

1 , 0 2 1 

1,379

.... „ .

5,176

23,145

39,353

23,629

27,758

16,264

1,553

26,495

5,004

2,508

2,762

1,623

20

1,159

4,741

$589,602

25,394

10,594

37,504

$8,567,447

536,481

94,618

67,174

77,290

155,870

114,774

47.455

243,472

109,902

7,614

34,981

47,820

42,828

89,572

78,876

141,132

121,610

353,513

166,683

10.456

102,451

137,445

131,016

104,186

41,720

121,635

90,279

122,042

138,752

49,764

158,215

2,400,640

151,954

675,102

69,162

90,105

159,717

51,478

171,914

48,895

98,386

64,915

79,094

48,184

63,099

235,046

29,944

93,802

27,971

268,413

$21,991,467

267,720

244,281

211,246

$525,000

55.000

5,000

10 .0 0 0

20 ,0 0 0

12 0 ,0 0 0

5.000

* 5,000

5.000

25.000

‘ 30,000

’ 25,000

' 5,000

10 .0 0 0 

10 ,0 0 0

15.000

40.000

10 .0 0 0 

65,000

5.000

’ 5,000

25,000

5.000

2 0 ,0 0 0

5,000

$4,205,000

2 0 ,0 0 0

45,000

$9,760

413

71

150

2 0

89

53

408

77

2 0

285

419

68

216

540

561

1764

551

91

218

......... 61

98

2,682

58

686

433

228

304

252

15

54

46

48

14

152

822

14

62

1,147

$66,234

306

$226,451

14,030

817

805

$22,475

829

363

70

$54,204 $17,166

2 , 2 2 1

86,132

659 341

1,681

511

5,967

564

1,6 8 6

1,732 2 0

4,384

96

28,060

2,392

2,050

2,240

1,955

34,099

46

1 , 1 1 2

491

40

1,582

42,679 17,166

2 1

1

1,178

4,786

410

14,760

11,525

29,491 479

734

$3,023,641

1,859

11,085

91

$936,217

3,228

$10,246,843 9 9 .5 %

667,801 99.8

115,782 99.6

84,049 99.7

89,768 99.98

186,486 10 0 .0

124,580 99.9

55,585 99.9

574,751 99.9

122,290 99.9

7,813 99.7

36,034 99.9

51,129 99.99

55,631 10 0 .0

94,392 99.96

83,155 99.99

142,352 99.95

134,266 99.6

366,465 99.9

184,400 99.97

21,224 97.4

130,447 99.9

174,772 99.0

142,957 99.6

141,628 99.9

48,224 99.5

162,791 10 0 .0

99,781 99.9

142,474 99.06

184,397 99.4

68,209 10 0 .0

208,601 99.95

2,476,203 99.9

214,615 99.95

839,067 99.7

79,375 10 0 .0

94,511 99.5

260,561 93.7

53,602 99.4

210,720 99.9

52,668 99.97

139,328 99.96

103,589 87.5

112,203 99.96

51,318 99.97

67,301 99.8

312,713 99.8

39,244 99.99

100,451 99.99

30,208 99.8

306,932 99.6

$31,735,443 9 6 .9 %

345,829 10 0 .0

334,492 98.95

286,902 10 0 .0

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 69

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 25. D ep osit P ro te ctio n and R ecovery, D ep osit P a y o ff Cases, 1934-1958—Continued

DATA AS OF TERMINATION OF RECEIVERSHIP1 O

Year and

case

number

Total

deposits

Deposits protected by offset, security, preference, or insurance

Paid by

offset

Paid by

security

or

preference2

Insured

Paid by FD IC on— »

Fully

insured

accounts

Accounts

exceeding

insurance

maximum

Not claimed from FD IC

Paid by

receiver4 Unpaid

Other deposits

In excess of

insurance maximum

Paid by

receiver

Unpaid

Restricted

Paid by

receiver

Unpaid

Total deposits paid

Amount Percent

1 7 9 ....

1 8 0 .. ..

1 8 1 ...,

1 8 2 ... ,

1 8 3 .. .

1 8 4 .. .

185. . .

186. . .

1 8 7 .. .

1 8 8 ...

1 8 9 .. .

1 9 0 ...

1 9 1 ...

1 9 2 .. .

1 9 3 .. .

1 9 4 .. .

1 9 5 .. .

1 9 6 .. .

1 9 7 .. .

1 9 8 ...

1 9 9 .. .

2 0 0 .. .

2 0 1 .. .

2 0 2 .. .

2 0 3 .. .

2 0 4 ...

2 0 5 ...

2 0 6 ...

2 0 7 ...

1940

2 0 8 ...

2 0 9 ...

2 1 0 . . .

2 1 1 . . .

2 1 2 . . .

2 1 3 ...

2 1 4 ...

45,551

93,605

89,299

130,550

706,578

21,652,793

153,583

410,521

281,435

137,159

28,034

192,090

177,274

17,241

774.204

181,552

369,525

119,158

2,859,992

463,940

936,507

251,430

84,951

105,828

96,106

502,425

57,911

223,517

624,378

$5,656,660

119,291

122,929

986.204

107,135

285,680

1,389,834

171,949

4,123

7,296

6,492

5,749

9,644

1,183,665

15,727

28,860

12,109

10,997

5,675

12,146

8,722

1,149

93,033

4,945

15,230

8,933

181,509

35,365

41,301

21,889

4,995

982

4,385

48,523

1,833

32,657

14,256

$341,708

24,676

12,247

48,359

17,598

27,121

56,398

11,971

271

24,909

268, '930

132

46,998

14,086

10

3,536

32,572

15,189

1

5,443

76,625

5,880

112

8

11,521

9,887

$178,597

3,500

1,483

62,456

18,258

41,183

80,527

82,640

98,830

496,428

13,142,428

122.691

298,651

227,135

117,271

22,334

154,120

91,762

15,951

431,342

176,106

281,597

97,667

2,515,437

355,759

872.691

196,930

56,598

77,057

79,825

319,078

56,029

172,081

588,072

$4,430,134

70,273

107,097

925,395

89,451

224,389

940,774

141,269

5,000

130,000

3,455,000

5.000

25.000

20 .0 0 0

5.000

15.000

25.000

’135,000

60,000

5,000

20 ,0 0 0

$465,000

15,000

20 ,0 0 0

205,000

245

730

415

2,100

111

433

217

* 141

50,000 418

5,000 2 ,1 0 0

65,000

50,000

20 ,0 0 0 36

25,000 172

15,000

5,000

1,400

2,135

350

$13,676

149

57

7,619

282

492

167

332

38,477

12

1,692

19

25

8

138

70,091

2,662,859

7,921

8,770

7,994

3,448

901,434

“ ” 550

7,063

13,308

625

501

619

84,054

5,772

14,961

17,330

674

2,063

83

375

1,142

49

21,660

15

2,664

18,464

346

1,559

8,246

17,742

1,427

3,678

70

4,956

72,282

1,124

$6,223

28

674

86

49

2,315

169

1,757

435

$190,169

9,193

141

$31,153

1,534

12,638

88,412

242

26,860

45,551 10 0 .0

93,113 99.5

89,132 99.8

130,218 99.7

706,578 10 0 .0

20,712,882 95.7

153,571 99.99

408,279 99.5

281,435 10 0 .0

137,159 10 0 .0

28,009 99.9

192,082 99.99

171,364 96.7

17,241 10 0 .0

758,618 98.0

181,051 99.7

368,906 99.8

119,158 10 0 .0

2,841,235 99.3

459,588 99.1

934,374 99.8

251,430 10 0 .0

84,951 10 0 .0

100,789 95.2

95,731 99.6

501,283 99.8

57,862 99.9

223,517 10 0 .0

623,113 99.8

$5,619,284 99.3%

119,291 10 0 .0

122,901 99.98

985,288 99.9

107,049 99.9

285,631 99.98

1,360,659 97.9

171,780 99.9

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
21 5 

21 6

21 7 

21 8

21 9 

22 0 

2 2 1 ........................

2 2 2 ........................

22 3 

22 4 

22 5 

22 6

194 1 

22 7 

22 8

22 9 

23 0 

23 1 

23 2 

23 3 

23 4 

194 2 

23 5 

23 6 

23 7 

23 8 

23 9 

24 0 

194 3 

24 1 

24 2 

24 3 

24 4 

194 4 

24 5 

1 94 5-5 3 ...........

1954-581

9 active cases..

113,194

143,690

25,693

162,822

165,776

717,386

177,755

52,584

113,437

158,937

386,625

255,739

$14,730,242

156,163

812,138

179,647

180,029

1,200,386

303,339

907,038

10,991,502

$1,816,179

164,976

364,966

217,290

325,265

537,238

206,444

$6,637,268

895,950

1,056,397

502,536

4,182,385

$455,549

455,549

7,869

13,133

999

9,891

10 ,6 6 6

20,476

22,163

1,174

16,171

10,829

13,668

16,299

$793,303

9,466

77,197

16,018

15,914

46,617

20,894

32.619

574,578

$80,897

3,706

17,392

9,094

14,839

32,969

2,897

$242,061

65,143

109,348

12,950

54.620

$16,772

16,772

1,016

2,631

3,303

56,539

1 1 ,0 0 2

902

1,311

4,101

12,095

$277,210

3,165

119,680

28,827

2 2 , 1 2 1

8,227

95,190

$51,936

14,879

9,295

27,237

525

$368,607

63,302

11,792

293,513

104,247

108,829

18,334

132,106

138,045

494,943

128,937

49,774

97,074

128,419

315.222

215,556

$10,998,000

143.282

435,633

130.222

135,043

1,020,858

273,059

851.283

8,008,620

$1,487,049

140,117

325,503

193,228

233,872

393,136

201,193

$4,749,548

753,426

765,802

326,447

2,903,873

$328,698

328,698

N o deposit payoff cases in these years.

$16,523,494 $1,787,652 $2,386,264 $9,735,153

10 ,0 0 0

5.000

15.000

5.000

10 0 ,0 0 0

15.000

15.000

40.000

10 .0 0 0

$1,280,000

.........85,000

25,000

80,000

2 0 ,0 0 0

1,070,000

$125,000

5,000

15.000

10 .0 0 0

40.000

55.000

$750,000

65.000

50.000

80.000

555,000

$75,000

75,000

$1,360,000

848

184

1,482

475

310

2,270

$376,225

40

’ 170

376,015

$8,073

109

15

7,949

$12,592

5,039

2,550

5,003

$256

256

$5,857

1,282

27

325

259

192

739

$7,690

250

4,567

245

1,212

1,159

257

$2,664

473

140

136

16

70

1,829

$11,095

1,004

272

150

9,669

$38

$2,753

7,014

512

1,084

10,354

43,946

3,068

11,364

1,050

$965,294

57,574

8,367

29,408

2,846

867,099

$55,477

481

2,987

3,904

27,228

20,877

$490,505

6,338

58,855

64,605

360,707

$31,306

31,306

$1,120,734

2,067

156

1,500

328

$32,520

32,487

33

$5,083

320

3,835

928

$12,860

6,268

6,592

$3,479

3,479

$125,081

113,132 99.95

141,607 98.6

25,693 10 0 .0

161,384 99.1

164,249 99.1

717,386 10 0 .0

177,102 99.6

52,325 99.5

113,245 99.8

158,937 10 0 .0

386,625 10 0 .0

255,000 99.7

$14,690,032 99.7%

155,913 99.8

775,084 95.4

179,647 10 0 .0

179,784 99.9

1,199,174 99.9

302,180 99.6

906,748 99.97

10,991,502 10 0 .0

$1,808,432 99.6%

164,183 99.5

360,991 98.9

216,226 99.5

325,249 99.99

537,168 99.99

204,615 99.1

$6,613,313 99.6%

894,946 99.9

1,049,857 99.4

495,794 98.7

4,172,716 99.8

$452,032 99.2%

452,032 99.2

$16,395,660 99.2%

1 For active cases data are estimates, as of December 31, 1958, of final results at termination of receivership. All cases during the twenty-year period 1934-53 (cases numbered

1-245) have been terminated; all cases during the five-year period 1954-58 (cases numbered 246-50, 252, 254-56) are active. There were no deposit payoff cases in the final 9 years

<1945-53) of the first period, or in the first year (1954) of the second period. Combined totals, rather than individual case data, are shown for active cases.

2 Excludes amount of preferred or secured deposits paid by the Federal Deposit Insurance Corporation.

3 For combined amounts in these two columns see total insured deposits paid, Table 26.

4 In most cases these deposits were paid into trusts by the receivers.

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— PAYOFF CASES 71

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 26. R e c o v e r y b y t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t io n , R e c o n s t r u c t i o n F i n a n c e C o r p o r a t i o n , a n d

O w n e r s o f O t h e r C a p i t a l , D e p o s it P a y o f f C a s e s , 1934-1958

DATA AS OF TERMINATION OF RECEIVERSHIP1

to

Year and

case

number

Federal Deposit Insurance Corporation

Insured deposits paid (designated

“ principal disbursements” )

Total

Recovery by FD IC

Amount Percent

Loss to

FD IC

Interest

received

by FD IC

Insurance

expenses*

Reconstruction Finance Corporation

Investment4

Recovery (estimated)5

Amount® Percent

Stockholders2

Value

of

stock

ments

paid by

stockholders

Recovery

(estimated)*

T o ta l, all cases.

Cases, 1934-53.

Cases, 1954-58.

193 4 

1 .............

2 .....................

3 

4 

5 6

7 

8

9 .....................

193 5 

1 0 .....................

1 1 .....................

1 2 .....................

1 3 

1 4 

1 5 

1 6

1 7 

1 8

1 9 

2 0

2 1 .....................

2 2 .....................

2 3 

2 4 

2 5 2 6

2 7 

2 8

2 9 

3 0 

3 1 

3 2 

$98,139,141

87,043,988

11,095,153

$941

102

317

37

66

63

27

188

120

16

$6,025,

559,

285,

135,

217,

130,

70,

8 6 ;

83,

170,

438

113

45!

109,

190

170

2,521

27

32

63

173

177

118

71

29

,006

,624

,354

,902

,094

,842

,630

,796

,563

,201

,513

,925

,602

,551

,615

,943

,344

,837

,321

,945

,166

,044

,413

,985

,892

,478

,749

,876

,935

,162

,293

,899

093

,872

,573

$83,036,488

72,868,313

10,168,175

$734,347

102,624

201,745

37,902

66,094

38,699

27,630

145,692

97,801

16,160

$4,274,435

39,423

245,535

97,603

44,621

45,955

70,344

81,068

25,521

55,038

308,398

113,044

36,760

98,953

190,892

170,478

2,128,860

27,876

29,177

49,791

144,038

115,488

118,093

7,906

29,573

8 4 .6 %

83.7

91.6

7 8 .0 %

100.0

63.6

10 0 .0 

10 0 .0

60.6

100.0

77.2

81.1

99.7

7 0 .9 %

7.0

86.0

72.0

20.5

35.1

100.0

93.4

30.6

32.2

70.4

100.0

80.9

90.0

10 0 .0 

10 0 .0

84.4

100.0

88.6

78.8

83.1

64.9

100.0

1 1 . 0

100.0

$15,102,653

14,175,675

926,978

$206,659

115,609

25,143

$ 1

43,104

22,762

41

,751,078

520,502

40,067

37,948

172,994

84,988

5,769

57,800

115,907

129,768

8,653

11,032

392,889

3,758

13,371

29,255

62,411

68,966

$367,057

346,878

20,179

$3,506

3,506

$27,872

3,208

4,391

18,070

1,422

’ ’ *781*

$1,044,056

815,060

228,996

$43,451

10,830

12,066

4,348

2,719

3,389

1,790

3,640

2,941

1,728

$107,624

5,983

5,393

(2) '

22,478

9,095

1,158

1,055

669

10,198

9,028

997

2,243

2,493

1,061

1,094

18,012

955

1,032

655

725

9,638

1,206

1,601

857

$6,718,616

6,718,616

$1,371,596

1,371,596

$140,969

40.000

41,969

10 .0 0 0

$74,694

13,203

41,969

’ 10 ,0 0 0

5.000

25.000

9.000

10 .0 0 0

$421,106

100,703

9,000

522

$224,279

100,703

64,715

22,710

15.000

7,500

15.000

19,978

2 0 .0 0 0

15.000

18.000

50,000

57,605

22,710

15,000

9,978

1 1 , 1 0 1

25,000

5.000

5.000

10 ,0 0 0

17,500

10 ,0 0 0

5,000

’ 2,1*82

2 0 .4 %

20.4

5 3 .0 %

33.0

100.0

’ i'0 0.6 '

100.0

5.2

5 3 .3 %

100.0

89.0

100.0

100.0

49.9

"7 4 .6 ’

100.0

12.5

$17,652,356

17,127,356

525.000

$432,100

50.000

262,100

25.000

25.000

15.000

10 .0 0 0

15.000

2 0 .0 0 0 

10 ,0 0 0

$962,500

10 0 .0 0 0

25.000

10 .0 0 0

50.000

50.000

10 .0 0 0

25.000

10 .0 0 0

15.000

40.000

15.000

25.000

35.000

30.000

25.000

300,000

2 0 .0 0 0 

2 0 ,0 0 0 

2 0 ,0 0 0 

2 0 ,0 0 0 

42,500

10 ,0 0 0

50.000

15.000

$1,264,755

1,264,755

$88,881

23,942

$2,301,304

2,258,540

42,764

$12,984

16,900

23,339

4,776

3,423

5,959

6,948

3,594

$433,774

21,126

1,000

1,661

9,104

7,290

2,287

1,200

1,594

11,390

$7,026

1,342

29,892

6,985

788

1,076

28,230

7,567

269,820

14,125

2,506

9,382

15,100

1,097

1,450

3,185 4,587

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1936................................. $8,055,565 $6,595,427 81.9%

3 4 ................................. 58,174 7,499 12.9

3 5 ................................. 210,996 210,996 10 0 .0

3 6 ................................. 118,870 38,019 32.0

3 7 ................................. 110,838 82,141 74.1

3 8 ................................. 521,768 521,768 10 0 .0

3 9 ................................. 80,739 72,356 89.6

4 0 ................................. 46,914 37,645 80.2

4 1 ................................. 5,007 3,093 61.8

4 2 ................................. 65,876 65,876 10 0 .0

4 3 ................................. 149,599 116,543 77.9

4 4 ................................. 103,947 103,947 10 0 .0

4 5 ................................. 45,674 8,690 19.0

4 6 ................................. 122,614 113,173 92.3

4 7 ................................. 16,837 16,837 10 0 .0

4 8 ................................. 89,324 60,985 68.3

4 9 ................................. 11,275 8,447 74.9

5 0 ................................. 30,652 26,545 86.6

5 1 ................................. 9,642 6,942 72.0

5 2 ................................. 77,711 70,880 91.2

5 3 ................................. 89,575 89,575 10 0 .0

5 4 ................................. 40,886 38,321 93.7

5 5 ................................. 47,903 28,420 59.3

5 6 ................................. 50,801 44,715 8 8.0

5 7 ................................. 313,964 259,050 82.5

5 8 ................................. 154,130 133,384 86.5

5 9 ................................. 46,225 38,724 83.8

6 0 ................................. 242,735 203,951 84.0

6 1 ................................. 46,494 39,808 85.6

6 2 ................................. 1,006,488 674,582 67.0

6 3 ................................. 836,427 822,756 98.4

6 4 ................................. 53,901 45,505 84.4

6 5 ................................. 6 8 ,2 0 2 61,039 89.5

6 6 ................................. 120,672 98,871 81.9

6 7 ................................. 226,037 R 168,947 74.7

6 8 ................................. 46,257 32,131 69.5

6 9 ................................. 193,804 193,804 10 0 .0

7 0 ................................. 1,419,018 1,113,839 78.5

7 1 ................................. 138,563 126,315 91.2

7 2 ................................. 218,084 218,084 10 0 .0

7 3 ................................. 326,614 326,614 10 0 .0

7 4 ................................. 37,124 15,043 40.5

7 7 ................................. 455,204 249,567 54.8

1937................................. $12,044,561 $9,519,831 79.0%

7 5 ................................. 134,466 51,195 38.1

7 6 ................................. 81,974 57,062 69.6

7 8 ................................. 46,401 32,779 70.6

7 9 ................................. 277,758 216,334 77.9

8 0 ................................. 134,270 110,591 82.4

8 1 ................................. 56,454 24,209 42.9

8 2 ................................. 105,217 72,897 69.3

8 3 ................................. 359,536 359,536 10 0 .0

8 4 ................................. 504,164 460,626 91.4

8 5 ................................. 248,498 242,866 97.7

8 6 ................................. 47,360 35,055 74.0

$1,460,138 $3,116

50,675

80,851

28,697

8,383

9,269

1,914

2,917

......... 33,056

36,984

9,441

199

“ “ 28,339

2,828

4,107

2,700

6,831

2,565

19,483

6,086

54,914

20,746

7,501

38,784

6,686

331,906

13,671

8,396

7,163

21,801

57,090

14,126

305,179

12,248

22,081

205,637

$2,524,730 $23,983

83,271

24,912

13,622

61,424

23,679

32,245

32,320

4,570

43,538

5,632

12,305

$67,075

1,496

1,648

1,637

1,066

3,150

699

704

180

962

952

2,328

1,996

556

420

2,639

184

333

469

1,620

1,172

482

343

455

2,971

886

484

908

334

5,391

4,731

389

722

729

1,080

419

3,973

6,204

1,019

2,059

5,315

1,256

2,714

$103,130

695

895

717

5,939

484

1,014

912

2,160

4,115

1,783

862

$848,489

33,440

50.000

5,376

55,017

40.000

10 .0 0 0 

7,500

$114,080

3,440

16,455

5,376

5,017

40,000

10 0

13.4%

10.3

32.9

10 0 .0

9.1

10 0 .0

1 . 0

15.000

32,500

4,000

15.000

15

1,512

. 1

4.7

2,500

5,000

9,000

50,000 27,981 56.0

5,000

45.000

10 .0 0 0 

5,000

25.000

10 .0 0 0

375 7.5

10 0 ,0 0 0

35.000

15.000

7,500

1,302

631

3.7

4.2

10 0 ,0 0 0

2 0 ,0 0 0

12.500

30.000

19,156

75.000

$809,237

25.000

15.000

14.000

2 0 .0 0 0

13.500

16,345

15.000

10 0 ,0 0 0

25.000

219

2,501

9,156

1 .8

8.3

47.8

$146,158 18.1%

450 2.3

6,345 38.8

52,279 52.3

$1,295,

25,

50,

25,

15

125,

2 0

7,

1 0

15

27,

42,

5,

25

1 2

25;

10,

15

16

2 0 

50

1 0 

1 0 

1 2 

so;

25

30

36

1 0

100

25

10

15

2 0

10

1 1

100

100

25

25

65

15

50

,000

,000

,000

,000

,000

,000

,000

,500

,000

,000

,000

,500

,000

,000

,500

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,500

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

$4,110,010

15.000

15.000

15.000

50.000

25.000

15.000

25.000

10 0 ,0 0 0

50.000

40.000

21,650

$233,028

10,275

55,773

6,732

20,550

1,406

7,060

12,605

3,220

9,110

19,410

7,833

501

28,169

10,650

12,579

25,198

1,957

$416,924

5,550

7,841

929

7,909

3,303

4,870

7,331

15,381

12,941

$145,659

63,528

82,131

$110,331

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 73

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 26. R e c o v e r y b y t h e F e d e r a l D e p o s it In su r a n c e C o r p o r a tio n , R e c o n s tr u c tio n F in a n c e C o r p o r a tio n , an d

O w n e r s o f O t h e r C a p ita l, D e p o s it P a y o f f C a se s, 1934-1958— Continued

DATA AS OF TERMINATION OF RECEIVERSHIP1

Year and

case

number

87,

88

89

90

91

92

93

94

95

96

97

98

99

100

101

102

103

104

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

Federal Deposit Insurance Corporation

Insured deposits paid (designated

“ principal disbursements” )

Total

133

53

72

60

58

79

169

167

160

174

415

192

173

45

150

49

797

464

122

1,483

1,071

67

1,183

313

33

66

247!

8 5 :

366

69:

33

326

97

141

43

71

603

120

80

,931

,145

,622

,619

,105

,992

,422

,455

,727

,105

,671

,285

,578

,850

,018

,590

,033

,554

,650

,822

,119

,797

,172

,869

,537

,308

,135

,732

,636

,634

,943

,540

,542

,197

,324

001

,187

,948

,668

Recovery by FD IC

Amount

133,931

41,819

47,334

60,619

14,019

50,795

169,422

147,452

97,085

174,105

415,671

184,027

159,200

45,850

128,073

40,668

739,089

354,339

52,764

1,254,270

919,357

66,950

316,215

52,130

31,013

38,139

237,121

85,732

338,772

69,634

31,432

236,142

97,542

131,809

43,324

61,848

603,187

120,948

64,854

Percent

100.0

78.7

65.2

100.0

24.1

63.5

100.0

88.1

60.4

100.0

100.0

95.7

91.7

100.0

85.4

82.0

92.7

76.3

43.0

84.5

85.8

98.8

26.7

16.6

92.5

57.5

95.9

100.0

92.4

100.0

92.6

72.3

100.0

93.4

100.0

87.1

100.0

100.0

80.4

Loss to

FD IC

11,326

25,288

' 44,086

29,197

20,003

63,642

8,258

14,378

21,945

8,922

57,944

110,215

69,886

229,552

151,762

847

866,957

261,739

2,524

28,169

10,014

27,864

* 2,511

90,398

9,153

15,814

Interest

received

by FD IC

1,245

2,607

5,077

607

2,457

' ' 543

6,877

Insurance

expenses3

1,188

1,069

820

412

3,545

2,184

1,289

1,525

3,004

3,496

1,816

1,679

1,552

458

735

1,076

3,202

3,142

2,025

5,109

6,929

410

5,713

3,645

414

924

1,980

1,206

7,154

583

429

2,867

1,875

1,144

1,146

422

3,010

3,769

608

Reconstruction Finance Corporation

Investment4

5.000

8,900

11,900

5.000

15,000

30.000

30.000

15.000

15.000

30.000

25.000

25.000

15.000

60,000

15,000

63,000

47,642

5,000

10,000

34,650

7,500

5,000

10,000

10,000

15.000

12.000

39,800

Recovery (estimated) 5

Amount6

323

5,000

>,145

721

47,642

2,038

9,725

16,490

Percent

6.5

100.0

20.6

1.2

100.0

27.2

81.0

” 41.4*

Stockholders2

Value

of

stock

10 

10 

20 

20 

40

10 

50

60

25

15

25

15

30

25

25:

1 2 

10 0 

135

1 0 :

500:

115:

i 6 :

1,782:

300.

1 0 :

2 0 :

5 0 :

1 0 :

50:

15:

15,

21,

15,

10, 

19,

15,

77,

50,

10,

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,500

,000

,000

,000

,000

,000

,000

,360

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,500

,000

,000

Assessments

paid by

stockholders

4,779

7,849

13,885

3,427

3,995

8,217

22,204

118,885

82,627

2,284

20,080

4,465

6,766

957

50,449

Recovery

(estimated)6

9,959

21,034

10,526

12,1

23,384

32,580

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1938................................... $9,092,447 $7,908,164 8 7 .0 %

126............................... 591,481 558,512 94.4

127............................... 99,618 69,155 69.4

128............................... 77,174 71,136 92.2

129............................... 77,290 66,983 86.7

130............................... 175,870 175,870 10 0 .0

131............................... 114,774 90,206 78.6

132............................... 47,455 29,328 61.8

133............................... 363,472 363,472 10 0 .0

134............................... 109,902 109,902 10 0 .0

135............................... 7,614 5,223 68.6

136............................... 34,981 30,028 85.8

137............................... 47,820 47,820 10 0 .0

138............................... 42,828 42,828 10 0 .0

139............................... 89,572 89,572 10 0 .0

140............................... 78,876 78,876 10 0 .0

141............................... 141,132 110,030 78.0

142............................... 126,610 83,560 66.0

143............................... 353,513 202,596 57.3

144............................... 166,683 132,019 79.2

145............................... 15,456 11,572 74.9

146............................... 107,451 107,451 10 0 .0

147............................... 162,445 126,727 78.0

148............................... 131,016 110,607 84.4

1 49............................... 134,186 132,694 98.9

150............................... 41,720 41,720 10 0 .0

151............................... 146,635 146,635 10 0 .0

152............................... 90,279 81,491 90.3

1 53............................... 127,042 85,842 67.6

154............................... 148,752 143,160 96.2

155............................... 59,764 59,764 10 0 .0

156............................... 173,215 173,215 10 0 .0

157............................... 2,440,640 2,002,042 82.0

158............................... 161,954 159,020 98.2

159............................... 740,102 707,856 95.6

160............................... 69,162 69,162 10 0 .0

161............................... 90,105 84,810 94.1

162............................... 159,717 113,879 71.3

163............................... 51,478 51,478 10 0 .0

164............................... 176,914 173,136 97.9

165............................... 48,895 28,740 58.8

1 66............................... 103,386 97,134 94.0

167............................... 89,915 21,247 23.6

168............................... 84,094 84,094 10 0 .0

169............................... 48,184 48,184 10 0 .0

170............................... 63,099 63,099 10 0 .0

171............................... 255,046 251,507 98.6

172............................... 29,944 29,944 10 0 .0

173............................... 93,802 73,198 78.0

174............................... 27,971 27,971 10 0 .0

175............................... 273,413 243,669 89.1

1939.................................... $26,196,467 $20,398,535 7 7 .9 %

176............................... 287,720 287,720 10 0 .0

177............................... 289,281 224,048 77.4

178............................... 211,246 211,246 10 0 .0

$1,184,283

32,969

30,463

6,038

10,307

” " *24,568

18,127

2,391

4,953

$28,918

5,350

5,223

3,144

1,262

1 ,0 1 2

31,102

43,050

150,917

34,664

3,884

1,706

......... 35,718

20,409

1,492

814

2,362

8,788

41,200

5,592

438,598

2,934

32,246

5,295

45,838

393

......... 3,778

20,155

6,252

68,668

1,342

1,582

2,388

3,539

578

20,604

1,762

29,744

$5,797,932 $58,624

9,664

65,233

$92,708

4,267

514

423

591

1,776

1,909

547

2,823

984

193

954

495

429

1,489

789

546

522

2.214

1,672

437

740

3,414

1,159

736

647

1,939

571

1,831

932

2,625

1.214

8,953

811

2,416

1,036

874

6,092

718

1,967

927

1,816

9,755

963

750

872

9,436

474

1,030

616

3,820

$161,606

3,929

4,246

1,759

$1,446,719

50,000

8,000

10,000

9,900

12,500

15.000

15.000

46,060

15.000

60.000

8,500

25.000

10.000

15.000

14,900

13.000

10,000

28,000

5,000

9,900

864,759

14,800

25,000

10,000

30.000

12.000

12,000

7,400

10,000

17.000

15.000

13.000

10.000

10,000

15.000

$2,289,996

5,000

15.000

35.000

$494,333

3,251

15,000

7,446

16,060

2,411

12,030

13,000

3,085

364,759

8,100

14,398

15,000

3,903

5,890

10,000

$181,349

5,000

M 17

3 4 .2 %

26.0

100.0

49.6

34.9

9.6

92.5

46.4

31.2

42.2

67.5

84.7

’ 1 0 0.0 '

30.0 

58.9

100.0 7.9

?

100.0

26.0

$1,288,

190,

15,

10,

20,

20,

60,

2li

15,

10

,

10,

25,

12.

io;

5,

15,

25,

25;

160,

15,

25,

25,

25,

1 5;

15,

15,

21,

10,

25,

2 0

,

15,

25,

,806

,106

,000

,000

,000

,000

,000

,000

,100

,000

,000

,000

,500

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,000

,600

,000

40.000

35.000

25.000

10.000

30.000

12.000

30.000

15.000

15.000

15.000

25.000

15.000

30.000 

31,500

10.000

15.000

10.000

25.000

$4,682,000

30.000

40.000

25.000

$53,745 $30,499

2,075

2,148

9,237

18,941

11,882

3,646

353

303

5,160

$16,461

51

3,285

4,155

3,882

3,120

7,970

8,036

$79,547

10,691

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 75

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 26. R ecovery b y th e F e d er al D eposit I nsurance C orporation, R econstruction F inance C orporation, and

O w ners o f O th e r C apital, D ep osit P a y o ff Cases, 1934-1958—Continued

DATA AS o f TERMINATION OF RECEIVERSHIP* o>

Year and

case

number

Federal Deposit Insurance Corporation

Insured deposits paid (designated

“ principal disbursements” )

Total

Recovery by FD IC

Amount Percent

41,183 10 0 .0

75,483 88.3

82,640 10 0 .0

98,830 10 0 .0

626,428 10 0 .0

12,404,042 74.7

127,691 10 0 .0

304,685 94.1

247,135 10 0 .0

112,871 92.3

22,334 1 0 0 .0

169,120 1 0 0 .0

81,822 70.1

15,951 10 0 .0

483,977 85.5

108,375 61.5

331,597 10 0 .0

102,667 10 0 .0

1,695,081 65.7

311,075 76.7

743,034 83.2

221,930 10 0 .0

71,598 1 0 0 .0

49,858 60.8

79,825 1 0 0 .0

379,078 1 0 0 .0

50,379 89.9

177,081 10 0 .0

459,751 75.6

$4,312,965 8 8 .1 %

85,273 10 0 .0

107,097 10 0 .0

814,681 87.1

89,451 10 0 .0

244,389 10 0 .0

884,459 77.2

97,318 68.9

Loss to

FD IC

Interest

received

by FD IC

Insurance

expenses*

Reconstruction Finance Corporation

Investment4

Recovery (estimated) 5

Amount6 Percent

Stockholders5

Value

of

stock

ments

paid by

stockholders

Recovery

(estimated)®

179

180

181

182

183

184

185

186

187

188,

189

190

191

192

193

194

195

196

197

198

199

2 0 0 

2 0 1 

2 0 2

203

204

205

206

207

1940.

208

209

210

211

212

213

214

41

85

82

98

626

16,597

127

323

247

1 2 2

2 2

169

116

15

566

176

331

10 2

2,580

405

892

2 2 1

71

82

79

379

56

177

608

,183

,527

640

,830

,428

,428

691

,651

135

,271

,334

,1 2 0

762

;951

,342

,106

,597

667

,437

,759

,691

,930

,598

,057

,825

,078

,029

,081

,072

$4,895,134

85,273

107,097

935,395

89,451

244,389

1,145,774

141,269

10,044

1,193,386

' 18,966

9,400

34,940

82,365

67,731

885,356

94,684

149,657

32,199

5,650

’ 148,321

$582,169

120,714

261,315

43,951

3,026

’ '2,383

4,521

9,063

' ' 319

3,686

2,946

3,536

2,252

' ‘ * 512

14,578

* 2,188

$39,822

4,457

1,213

18,391

1,703

978

2,627

1,264

2,721

59,795

1,105

3,336

1,620

1,099

393

2,150

4,250

779

10,896

1,326

1,354

821

15,052

3,178

5,132

2,064

2,987

2,736

1,951

7,850

916

8,059

3,530

$89,406

3,007

7,388

37,102

1,715

2,693

4,770

1,878

10,000

20,000

25,000

100,000

1,732,496

20,000

15.000

15.000

15.000

7,500

50.000

25.000

30.000

25,000

50.000

40.000

20,000

10,000

25.000

$447,750

25.000

15.000

9,750

50.000

250,000

50.000

10,000

745

71,463

20,000

6,003

5,183

6,632

7,500

23,706

16,000

$67,748

6,696

8,796

9,750

12,006

100.0

3.7

71.5

100.0

40.0

34.6

44.2

100.0

79.0

80.0

1 5 .1 %

26.8

58.6

* 10 0 .0 ’

24.0

30.000

25.000

25.000

25.000

125,000

1,267,500

20.000

30.000

30.000

30.000

15.000

10.000

10,000

17,500

50.000

60.000

42.000

30.000

2,475,000

25.000

50.000

25.000

20.000

25.000

5,000

45.000

10.000

15.000

50.000

$1,820,924

25.000

10.000

1,151,349

30.000

25.000

75.000

25.000

953

9,265

500

6,935

1,695

17,941

1,903

4,975

13,623

27,527

$19,980 $77,961

5,656

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
21 5 

2 1 6

21 7 

2 1 8

21 9 

2 2 0

2 2 1 .....................

2 2 2 .....................

22 3 

22 4 

22 5 

2 2 6

194 1 

22 7 

2 2 8

22 9 

23 0 

23 1 

23 2 

23 3 

23 4 

194 2 

23 5 

23 6 

23 7 

23 8 

23 9 

24 0 

194 3 

24 1 

24 2 

24 3 

24 4 

194 4 

24 5 

1945-1953............

1954-19581

9 active cases

104,247

118,829

23,334

147,106

143,045

594,943

143,937

49,774

97,074

143,419

355.222

225,556

$12,278,000

143.282

520,633

155.222

135,043

1,100,858

273,059

871.283

9,078,620

$1,612,049

145,117

340,503

203,228

273,872

448,136

201,193

$5,499,548

818,426

815,802

406,447

3,458,873

$403,698

403,698

69,401

92,346

23,334

128,866

107,548

594,943

116,462

49,774

83,426

143,419

355.222

225,556

$12,064,890

143,282

333,062

155.222

127,783

1,100,858

264,900

861,163

9,078,620

$1,320,109

81,049

149,217

166,642

273,872

448,136

201,193

$5,376,227

818,426

738,078

360,850

3,458,873

$363,383

363,383

66.6

77.7

100.0

87.6

75.2

100.0

80.9

100.0

85.9

100.0

100.0

100.0

98.3%

100.0

64.0

100.0

94.6

100.0

97.0

98.8

100.0

81.9%

55.9

43.8

82.0

100.0

100.0

100.0

97.8%

100.0

90.5

88.8

100.0

90.0%

90.0

34,846

26,483

18,240

35,497

27,475

13,648

$213,110

187,571

7,260

8,159

10,120

$291,940

64,068

191,286

36,586

$123,321

77,724

45,597

$40,315

40,315

N o deposit payoff cases in these years.

$11,095,153 $10,168,175 91.6% $926,978

607

453

4,497

2,900

7,304

$88,004

1,561

42,767

’ 43,676

$11,362

6,843

4,519

$61,671

13,641

48,030

$20,179

1,134

3,288

1,652

2,191

3,305

3,138

1,670

2,685

2,311

5,190

2,124

2,165

$49,981

1,475

5,554

3,628

3,573

5,110

2,806

3,947

23,888

$38,029

8,007

12,586

3,272

2,512

8,231

3,421

$52,960

12,052

10,407

8,648

21,853

$9,090

9,090

$228,996

7,500

5,500 5,500 10 0 .0

25.000

$195,500

15.000

13.000

25.000

$15,000

15.000

10 0 .0

7 .7 %

10 0 .0

47,500

50.000

20 .0 0 0 

50,000

$81,750 $53,955 6 6.0 %

11,750

25.000

15.000

30.000

$32,500

25.000

7,500

25.000

15.000

13,955

10 0 .0

10 0 .0

46.5

$4,600

4,600

15.000

15.000

40,575

10.000

35.000

150.000

20.000

15.000

25.000

33.000

65.000

56.000

$1,582,000

15.000

37.000

25.000

15.000

100.000

40.000

50.000

1,300,000

$200,245

10.000

25.000

25.000

40.000

30,245

70.000

$701,771

25.000

25.000

51,771

600,000

$52,000

52.000

$525,000

17,752

2,228

$450

450

$1,512

1,512

15,000

’ 5,429

5,680

40,818

5,378

$1,735,500

1,735,500

$35,033

24,788

10,245

$24,000

24,000

$42,764

1 For active cases data are estimates, as of December 31, 1958, of final results at termination of receivership. All cases during the twenty-year period 1934-53 (cases numbered

1-245) have been terminated; all cases during the five-year period 1954-58 (cases numbered 246-50, 252, 254-56) are active. There were no deposit payoff cases in the final 9 years

(1945-53) of the first period, or in the first year (1954) of the second period. Combined totals, rather than individual case data, are shown for active cases.

2 Includes holders of debentures, capital notes, and certificates of beneficial interest. Excludes the Reconstruction Finance Corporation. Value shown is par value of common stock

and redemption value of preferred stock, debentures, notes, and certificates. Other capital accounts not included.

8 Includes field payoff and other nonrecoverable insurance expenses. In the first 24 cases data are after application of forfeited assessments.

4 Redemption value of preferred stock, plus $719,870 of secured loans distributed as follows: full amount shown for cases 2, 8 , 10, 13, 14, 36, and 110; $9,978 in case 18; $3,440

in case 34; $5,017 in case 37; $9,156 in case 74; $6,345 in case 81; $16,060 in case 141; $13,000 in case 153; and $364,759 in case 157.

B On principal only; does not include payments of accrued interest or dividends.

• Cash plus appraised value of unliquidated assets.

7 N et credit after applying forfeited assessment; see note 3.

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— PAYOFF CASES 77

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 27. R e ce iv e rs’ C o lle c tio n s and D isbursem ents, D eposit P a y o ff Cases, 1934-1958

D a ta as o f D ecem ber 31, 1958

oo

Year and

case

number

Receivers’ collections

From liquidation of assets Income

from

assets

while

held

Assessments

on stockholders

Total

collections

or disbursements

Receivership

expenses

Advances

for

protection

Cash Offsets of assets

$116,056,119 $11,778,649 $5,509,890 $1,264,755 $134,609,413 $7,766,969 $3,361,157

102,811,070 9,879,358 5,221,434 1,264,755 119,176,617 7,255,767 3,268,879

13,245,049 1,899,291 288,456 15,432,796 511,202 92,278

$1,856,622 $95,760 $120,177 $88,881 $2,161,440 $213,431 $52,341

300,033 12,347 19,362 23,942 355,684 61,543 36,319

956,620 41,284 65,470 1,063,374 76,417 4,678

63,277 741 2,735 ............16,900 83,653 7,835 3,003

72,938 369 2,731 23,339 99,377 7,357

48,363 4,170 3,240 4,776 60,549 12,658 3,518

30,335 2,793

14,802

368 3,423 36,919 3,828

168,994 8,113 5,959 197,868 2 0 ,2 0 2 3,488

136,715 13,329 15,468 6,948 172,460 20,639 1,335

79,347 5,925 2,690 3,594 91,556 2,952

$7,138,055 $1,939,278 $315,090 $433,774 $9,826,197 $677,084 $162,854

360,200 1,335,566 37,331 1,733,097 49,059 27,167

309,385 54,763 23,866 ......... 21,126 409,140 33,802 9,029

101,793 1,0 0 0 102,793 4,670

170,803 ............14,815 .............. 8,764 1,661 196,043 22,659 1 ,0 2 0

109,551 10,161 7,960

1,957

9,104 136,776 13,967 411

82,782

121,079

1,460 7,290 93,489 3,421 75

8,279 6,731 2,287 138,376 9,321 813

38,177 3,525 1,070 1 ,2 0 0 43,972 7,279 1,283

165,360 14,029 4,033 183,422 37,737 19,033

527,565 125,528 22,303 29,892 705,288 60,559 2,671

130,388 10,653 3,728 6,985 151,754 5,522 3,146

42,927 2,058 2,902 788 48,675 9,470

6,704 1,076 144,320 18,606125,973 10,567 1,499

259,041 10,454 8,150 28,230 305,875 17,355 1,024

262,129 19,696 11,005 7,567 300,397 24,679 1,806

3,678,727 276,954 137,175 269,820 4,362,676 238,330 85,577

27,001 869 3,007 14,125 45,002 5,271

43,474 3,619 215 2,506 49,814 4,939 1

56,801 5,425 2,565 9,382 74,173 13,948

154,685

162,247

131,128

10,747

14,398

3,256

9,963

9,401

1,481

15,100 190,495

186,046

137,315

24,888

24,775

9,321

5,528

1,450

36,450 1,347 3,307 41,104 30,712 578

40,389 1,109 1,472 3,185 46,155 6,794 2,193

Receivers’ disbursements

Secured,

preferred,

and offset,

claims

Common

claims

paid1

Interest

paid on

common

claims

Paid to

owners

of

capital2

T o ta l, all cases. . .

Cases, 1934-53. . .

Cases, 1954-58. . .

193 4 

1 ..........................

2 ..........................

3 

4 

5 6

7 

8

9 ..........................

193 5 

1 0 ..........................

1 1 ..........................

1 2 ..........................

1 3 

1 4 

1 5 

1 6

1 7 

1 8

1 9 

2 0

2 1 ..........................

2 2 ..........................

2 3 

2 4 

2 5 2 6

2 7 

2 8

2 9 

3 0 

3 1 

3 2 

3 3 

$28,257,228

23,663,749

4,593,479

$1,027,946

132,172

777,532

28,843

665

5,573

2,802

28,486

22,456

29,417

$3,109,659

1,611,385

112,197

268

132,080

78,807

7,982

51,401

9,098

71,755

244,616

14,008

2,445

25,263

74,387

81,556

505,260

5,869

14,136

10,517

18,941

30,830

3,256

1,660

1,942

$92,018,826

81,853,194

10,165,632

$826,426

112,447

204,747

38,789

68,967

38,800

30,289

145,692

128,030

58,665

$5,816,558

45,486

254,112

97,855

40,284

43,591

70,390

76,841

26,312

54,897

397,442

114,769

36,760

98,952

208,318

173,826

3,533,509

28,096

30,738

49,708

141,138

128,259

123,316

8,154

33,805

$489,678

463,897

25,781

$3,588

3,588

$28,732

3,208

4,791

18,530

1,422

781

$2,715,555

2,671,131

44,424

$37,708

13,203

1,595

22,388

522

$31,310

11,621

11,101

5,766

2,182

' * 640

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1936

34

35

36

37

38

39

40

41

42

43

44

45

46

47

48

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

77

1937

75

76

78

79

80

81

82

83

84

85

86

$9,794,324 $777,098 $507,557 $233,028 $11,312,007

68,068 5,374 4,278 77,720

220,896 7,699 5,418 10,275 244,288

73,708 5,128 5,443 84,279

162,728 3,446 12,520 178,694

736,263 70,274 56,149 55,773 918,459

81,484 4,859 2,237 88,580

44,140 4,007 948 49,095

3,667 103 2 2 3,792

68,447 5,459 5,941 6,732 86,579

156,032 11,823 14,819 182,674

167,742 7,673 8,338 20,550 204,303

18,983 3,363 2,228 1,406 25,980

119,624 6,593 2,025 7,060 135,302

24,602 802 331 25,735

98,189 23,013 4,605 125,807

13,780 24 227 14,031

27,787 724 292 28,803

34,914 1 ,2 2 0 1,915 12,605 50,654

95,173 12,670 9,021 3,220 120,084

111,304 10,873 5,051 9,110 136,338

41,968 2,493 525 44,986

33,351 1,889 448 35,688

45,631 2,192 1,563 49,386

378,230 15,891 18,008 412,129

141,225 8,852 5,649 19,410 175,136

49,104 3,298 988 53,390

264,502 16,033 9,273 289,808

46,551 3,624 1,965 7,833 59,973

777,863 36,562 55,456 869,881

1,020,444 47,901 47,566 1,115,911

49,009 3,610 1,695 54,314

72,535 2,746 8,215 501 83,997

107,992 7,344 3,875 119,211

227,326 15,149 11,507 253,982

35,599 4,675 1,207 41,481

1,299,466 41,826 67,067 1,408,359

1,541,997 253,698 89,299 28,169 1,913,163

179,461 25,759 3,885 10,650 219,755

293,325 17,245 9,184 12,579 332,333

455,444 33,120 13,408 25,198 527,170

34,974 1,863 1,308 1,957 40,102

370,796 46,201 13,658 430,655

$13,227,143 $1,655,004 $544,601 $416,924 $15,843,672

57,256 4,321 5,342 5,550 72,469

56,753 1,977 5,240 7,841 71,811

41,147 1,767 1,357 929 45,200

251,123 18,743 11,787 281,653

138,407 9,791 3,604 7,909 159,711

44,835 1,799 1,785 3,303 51,722

85,796 2,951 8,707 4,870 102,324

495,381 54,477 18,803 7,331 575,992

594,727 118,502 9,018 15,381 737,628

281,074 59,351 1 1 , 2 1 1 12,941 364,577

47,348 9,292 1,291 57,931

,477

,876

,530

,189

,154

,281

,844

,355

451

,578

,566

,214

,863

,247

,919

,289

,904

,406

,977

,840

,183

,696

,289

,202

,871

,756

,041

,422

,091

,543

,503

,937

,904

,971

,547

,119

,048

,425

,863

,784

,396

,523

,880

$1,314,151

13,529

11,937

8,107

22,487

13,306

14,480

16,908

61,115

31,444

27,106

11,927

$910, 2 o;

14,

15!

28!

34! 46

!

16

2 0 7

;

i i2941

12

18

1 1352

50

18

6 

264

100

644

18

1 084

148

45

23

34

318

37

$349,874

9,508

6,633

30,096

142

1,865

408

1,241

656

2,374

5,306

40

15,964

6,130

3,793

1,579

2,591

5,405

‘ ’ 100

11,043

209,084

3,298

34

2,057

30,527

$152,053

3,002

481

192

500

5,886

765

4,427

5,288

153

11,995

348

$1,723,559

39,585

7,982

19,446

40,831

142,867

6,513

11,300

2,758

5,602

61,750

32,857

9,132

6,593

5,735

28,572

24

724

1,221

34,519

13,923

4,465

6,971

2,291

31,391

9,388

6,877

71,941

9,810

40,742

48,870

4,370

3,824

22,278

79,375

14,145

61,381

631,675

27,841

24,663

83,430

13,812

52,085

$4,461,349

13,625

3,680

6,129

74,290

37,763

14.503

15,456

76,351

196,871

82,707

10.503

$8,147,

7,

211:

43

79

642

77

31

104,

149, 8

,

117,

16,

86,

8,

26,

36i

64,

89!

36!

23!

44;

313;

140,

36;

1 8 9;

43:

728;

997;

45;

61;

84;

155

23

943;

1,232;

1 6 8;

272;

409;

15;

310;

,418

,751

,235

,011

,613

,016

,223

,440

583

,190

,343

,059

,577

,462

,881

,705

,447

,673

,456

,351

,398

,825

,388

,893

,903

,862

,304

,866

,481

,596

,133

,007

,169

,660

,017

,217

,518

,765

,051

,633

,843

,710

,163

$9,759,467

42,313

55,713

30,772

184,376

102,756

21,974

65,533

376,389

509,160

242,769

35,153

$3,267 $177,412

10,541

99,295

3,067

15

308

200

16,528

375

1,302

46,328

219

2,501

$24,040 $132,612

4,570 52,279

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 79

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 27. R e c e iv e rs’ C o lle c tio n s and D isbursem ents, D ep osit P a y o ff Cases, 1934-1958— Continued

D a ta as o f D ecem ber 31, 1958

Year and

case

number

Receivers’ collections

From liquidation of assets

Cash Offsets

Income

from

assets

while

held

Assessments

on stockholders

Total

collections

or disbursements

Receivers' disbursements

Receivership

expenses

Advances

for

protection

of assets

Secured,

preferred,

and offset

claims

Common

claims

paid1

Interest

paid on

common

claims

Paid to

owners

of

capital2

87

88

89

90

91

92

93

94

95

96

97

98

99

100

101

102

103

104

105

106

107

108

109

110 

111

112

113

114

115

116

117

118

119

1 2 0 

1 2 1 

1 2 2

123

124

125

136,560

56,552

73,615

70,323

17,988

70,319

286,168

200,954

243,398

187,499

458,312

209,317

190,142

64,791

182,527

48,083

1,455,776

410,645

80,049

1,885,098

1,167,863

71,383

786,624

163,579

35,738

58,549

256,315

119,213

383,373

75,716

32,284

267,416

114,302

166,365

57,259

67,692

717,654

190,632

73,223

6,491

2,410

4,647

3,796

1,650

2,198

16,431

18,835

1,481

8,457

57,023

18,366

16,116

7,923

18,176

13,762

85,137

52,365

18,650

121,571

98,866

8,493

390,999

97,733

2,257

14,941

23,893

8,095

22,703

2,373

960

64,434

11,441

68,948

8,697

6,947

51,305

9,081

4,382

10,845

4,130

4,772

2,224

1,153

2,248

4,835

7,531

9,062

6,786

3,126

13,921

3,515

3.077

7,005

2,840

37,022

27,196

747

68,025

41,237

1,222

73,253

16,660

3,391

1,544

12,446

6,067

20,904

2,377

1.077

16,221

4,370

1,668

2,289

1,312

25,284

11,327

3,747

4,779

7,849

13,885

3,427

3,995

8,217

22,204

118,885

82,627

2,284

'20,080

4,465

6,766

957

50,449

153,896

67,871

90,883

76,343

34,676

78,192

311,429

227,320

253,941

210,959

518,461

241,604

209,773

75,791

207,708

64,685

1,600,139

490,206

99,446

2,193,579

1,390,593

81,098

1,250,876

277,972

43,670

75,034

312,734

133,375

426.980

84,931

41,087

348,071

130,113

236.981

69,202

75,951

844,692

211,040

81,352

12,189

16,457

24,050

3,582

9,716

11,147

8,102

8,444

35,232

18,980

6,951

24,610

15,448

8,378

12,792

10,168

81,469

28,155

18,312

219,473

43,868

5,563

149,297

48,682

7,315

12,429

41,858

5,806

33,607

9,346

7,689

41,873

13,223

17,264

5,991

6,414

40,883

11,021

6,021

17

2,029

4,494

205

16,650

722

2,226

2,921

1,991

47

5,215

36

39,217

5,768

14,477

6,640

326

38

995

2,909

674

927

3,946

293

400

603

303

4,378

569

20,393

11,898

20,691

4,621

7,955

5,998

149,703

92,703

103.745

10,206

83,146

35,979

43,763

8,848

63,153

16,230

692,384

146,064

42,495

660,752

219,656

15,776

817,420

187.745

2,261

27,041

26,450

15,504

41,472

3,047

2,160

64,974

18,111

80,424

10,532

15,403

82,771

68,173

9,824

120,974

37,487

41,648

61,247

17,005

61,047

153,390

126,173

98,314

178,444

423,627

181,015

148,336

45,422

129,772

38,240

821,071

303,103

38,639

1,274,137

1,121,301

59,759

269,682

34,905

33,768

35,526

244,426

87,686

348,992

69,210

30,311

237,278

96,029

138,893

41,794

54,134

704,245

120,591

64,938

323

1,279 5,409

234

2,607

4,737

5,077 5,145

12,848

23,384

‘ 2,038

2,457

557

6,877

9,725

16,490

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
193 8 

126..........

12 7 

1 2 8

12 9 

13 0 

13 1 

13 2 

13 3 

13 4 

13 5 

13 6 

13 7 

13 8 

13 9 

14 0 

14 1 

14 2 

14 3 

14 4 

14 5 

14 6 

14 7 

14 8 

14 9 

15 0 

15 1 

15 2 

15 3 

15 4 

15 5 

15 6 

15 7 

15 8 

15 9 

16 0

161..........

162..........

16 3 

16 4 

16 5 

16 6

16 7 

16 8

16 9 

17 0 

17 1 

17 2 

17 3 

17 4 

17 5 

193 9 

17 6 

17 7 

17 8 

$10 ,371,409

692,929

87,059

78,867

86,212

182,864

109,296

54,629

573,029

120,337

6,311

34,857

57,043

55,025

109,973

87,799

126,460

109,339

328,357

152,628

21,435

141,386

145,424

127,436

141,909

62,167

161,235

88,058

117,148

173,576

66,523

208,322

,924,196

212,614

776,072

74,684

89,063

265,169

62,251

204,426

36,391

134,007

41,854

130,740

59,842

94,883

295,962

38,996

85.604

44.604

292,418

$29,778,680

339,208

272,900

271,302

$567,899

29,665

23,978

6,079

2,168

7,560

8,325

798

57,955

12,391

204

1,053

3,309

990

4,955

4,298

1,221

6,578

12,952

5,812

4,207

7,051

7,290

9,556

4,678

5,126

12,610

9,489

10,461

7,456

6,039

10,191

33,729

11,448

42,091

7,383

4,406

33,862

2,124

34,886

2,222

8,814

10,781

11,303

3,134

1,746

25,417

7,693

8,930

1,078

32,407

$2,948,797

31,118

23,575

37,879

$587,853

9,153

5,467

2,225

5,888

7,445

3,818

1,902

20,612

2.069

1,138

814

2,734

1,407

1,655

2,551

7,978

4,257

12,865

9,942

286

3,923

6,037

7,799

4,135

4,387

4,948

5,936

7,202

10,852

353

10,408

276,814

7,676

38,598

3,311

3,427

7,488

1,711

14,522

2,418

8,050

1,899

5,322

3,001

4,566

18,838

4,009

3.069

2,689

10,259

$2,481,744

14,125

9,410

5,045

$53,745 I

2,075

2,148

9,237

18,941

11,882

3,646

353

303

5,160

$16,461

$11,580,906

731,747

116,504

87,171

94,268

199,944

121,439

57,329

651,596

134,797

7,653

36,724

63.086

59,570

116,583

103,885

154,600

132,056

354,174

168,382

25,928

152,360

158,751

148,437

150,722

71,680

178,793

103,483

134,811

191.884

72,915

228,921

3,234,739

231,738

856,761

85,378

96,896

306,519

66.086

253,834

41,031

151,224

54,837

147,365

65,977

101,195

340,217

55,858

97,603

48,371

335,084

$35,225,682

384,451

305.885

314,226

$894,868 $145,403

33,194

21,941 233

8,589

13,424 1,053

6,306 280

12,893 4,474

7,394 1,345

45,447 5,332

8,660

1,723 425

5,328 115

8,624

1,975 56

3,294 374

11,995 937

22,371 3,887

40,673 59

27,153 10 0

14,818 3,173

7,423 692

13,138 1,946

8,355

14,671 10,424

8,778 1,127

10,351 223

10,814 1,233

10,003 2,240

16,238 2,600

8,943 3,741

1,354

16,891

2 2 2 ,2 1 0 77,938

18,589

32,580 359

5,476 119

4,822 2,402

19,646 7,282

3,667 182

28,344 972

7,550 907

12,847 263

17,389 495

12,377 4,772

5,041

12,529 332

20,246

7,069 2,873

9,402 425

4,155

28,168 13

$1,746,330 $2,096,426

10,937

18,479 ............16,886

16,872 697

$2,343,891 $8,048,116

117,639 580,914

24,530 69,800

8,344 70,238

21,528 58,263

8,028 179,835

19,275 84,797

25,729 22,861

145,930 448,155

17,412 105,581

2 2 1 5,284

1,097 30,184

12,156 39,055

12,856 43,130

5,392 89,323

4,318 79,189

18,195 110,147

6,942 84,382

126,795 200,126

29,488 120,903

4,362 13,451

26,770 106,351

16,685 133,711

14,805 108,537

6,660 134,157

9,722 38,538

16,937 147,362

11,898 79,342

29,067 86,906

9,742 169,458

6,150 62,291

36,715 172,230

929,888 2,004,703

66,953 146,196

87,359 736,463

10,594 68,952

6,379 83,293

121,698 157,893

4,187 49,546

65,931 158,587

4,060 28,514

44,289 93,825

11,549 25,404

19,432 93,667

4,361 46,957

13,978 56,942

62,295 253,773

9,815 29,618

18,984 68,792

2,239 28,099

64,512 242,391

$7,720,345 $23,407,759

69,552 277,847

34,217 236,303

77,473 210,067

$32,087 $116,541

5,444 51

6,732

3,144

3,251

279

17,188

7,446

1,274

1 , 0 1 2

1,744 2,411

816

2,447

12,030

3,120

3,085

237

404 8 ,10 0

2,719

1,582

2,414

14,398

8,036

15,000

3,903

593 5,890

1,762 12,116

$60,515

9,737

$194,307

16,378

9,117

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Table 27. R eceivers* C o lle c tio n s and D isbursem ents, D ep osit P a y o ff Cases, 1934-1958— Continued

D a ta as o f D ecem ber 31, 1958

Year and

case

number

Receivers' collections

From liquidation of assets

Cash Offsets

Income

from

assets

while

held

on stockholders

Total

collections

or disbursements

Receivers’ disbursements

Receivership

expenses

Advances

for

protection

of assets

Secured,

preferred,

and offset

claims

Common

claims

paid1

Interest

paid on

common

claims

Paid to

owners

of

capital*

3,026

74

2,383

11,635

745

2,438

39,723

4,521

............9,209

500

.......... 20 ,0 0 0

6,003

5,183

6,632

323

3,745

7,762

4,069

3,625

23,706

6,913

2,517

.................520

14,578

13,623

............16,000

7,949

2,188

$41,162 $109,853

6,696

4,457 8,796

1,213

19,418

16,494

12,006

179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

196

197

198

199

200

201

202

203

204

205

206

207

1940.

208

209

210 

211 

212

213

214

68,023

86,349

88,669

143,534

738,023

20,189,943

152,442

390,520

296,091

129,056

31,901

197,222

132,385

34,145

754,274

170,102

368,873

126,673

1,896,593

363,061

758,951

243,561

99,225

80,414

111,755

502,823

55,184

207,593

477,885

$5,310,058

112,319

133,591

1,038,977

113,649

304,425

1,059,815

137,735

6,569

7.308

6,492

5,758

11,145

2,143,321

15,727

29,038

12,122

11,462

5,675

13,089

8,923

1,149

97,148

6.308

15,231

8,939

239,058

36,308

41,801

22,015

5,700

3,057

4,411

49,005

1,832

32,764

14,870

$649,082

25,319

12,518

347,751

17,683

28,348

56,408

11,987

2,003

10,187

1,055

2,364

79,817

2,135,303

2,002

4,217

14.081

5,662

1,068

4,204

2,691

509

14.082

12,028

24,465

5,376

53,919

4,932

24,053

9,156

3,253

4,959

2,944

11,427

2,116

6,504

8,787

$198,367

2,551

1,251

28,238

4,586

8,684

64,038

7,798

953

6,935

1,695

1,903

4,975

$19,980

76,595

104,797

96,216

151,656

828,985

24,468,567

170,171

423,775

322,294

153,115

40,339

214,515

143,999

35,803

865,504

188,438

408,569

140,988

2,189,570

406,204

824,805

274,732

108,178

93,405

119,110

563,255

59,132

246,861

501,542

$6,177,487

140,189

147,360

1,414,966

135,918

341,457

1,180,261

157,520

13,792

12,026

1,921

19,129

51,128

1,109,794

11,023

21,019

6,720

17,738

5,947

10,762

7,185

10,518

38.364

32,823

10,416

5,925

131,210

30,361

31,876

21,187

5,957

19,993

5,500

16,617

6,339

20,006

24,766

$365,748

12,147

10.364

64,594

10,385

19,554

76,957

20,722

1,526

322

26,474

1,982,755

80

53

* 686

29

2,331

29,192

1,243

4,903

14,455

3,588

7,384

24

609

2,845

344

$36,833

467

3,604

71

2,537

2,588

8,202

8,089

17,209

18,941

32,384

11,404

6,260,915

16,570

90,361

31,273

11,665

11,206

16,803

42,753

2,207

245,963

18,576

18,052

14,382

384,977

39,721

48,972

31,496

11,031

5,341

16,344

67,485

3,011

43,539

18,433

$1,184,673

27,376

27,191

536,917

24,314

31,462

144,475

36,763

40,053

73,217

70,533

99,821

700,256

15,115,103

137,477

312,395

255,039

117,709

16,994

176.573

94,032

15,316

578.846

107.847

351,083

105.240

1,658,928

332,534

736.573

222,049

75,050

68,047

80,137

453,781

49,782

181,128

457,999

$4,439,218

93,503

96,552

809,851

83,441

256,480

956.241

91,833

FEDERAL DEPOSIT INSURANCE CORPORATION

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21 5 

21 6 

21 7 

21 8

21 9 

22 0 

2 2 1 ...................

2 2 2 ...................

22 3 

22 4 

22 5 

22 6

194 1 

22 7 

22 8

22 9 

23 0 

23 1 

23 2 

23 3 

23 4 

194 2 

23 5 

23 6 

23 7 

23 8 

23 9 

24 0 

194 3 

24 1 

24 2 

24 3 

24 4 

194 4 

24 5 

1 94 5-5 3 ................

1954-58

9 active cases

82

113

31

135

132

731

168

65

1 1 0

169

400

267

,544

,923

,626

,827

,035

,243

,638

,400

,978

,369

,799

165

$16,513,148

163,841

529.625

172,721

172,688

1,416,896

285,851

888,145

12,883,381

$1,626,555

103,700

168,962

195,983

371,879

544,000

242,031

$6,756,536

904,123

914.625

444,235

4,493,553

$438,540

438,540

7,882

14,325

999

12,360

11,064

20,476

22,249

1,174

16,171

10,911

14,913

16.544

$866,005

9,466

77,865

16,873

16,212

46,931

23,020

32,794

642,844

$83,324

4,324

17,749

9,711

15,331

33,312

2,897

$280,339

81.544

111,211

31,690

55,894

$16,772

16,772

5,943

2,983

1,899

181

4,347

35,373

1,545

2,440

591

913

20,893

4,113

$180,402

9,536

7,679

2,924

9,260

44,727

5,757

32,073

68,446

$32,840

3,864

309

2,834

6,071

11,092

8,670

$246,458

37,059

11,245

5,703

192,451

$6,345

6,345

N o deposit payoff cases in these years.

$13,245,049 $1,899,291 $288,456

17,752

' 2,228

$450

450

$1,512

1,512

96,369 11,901 5,104 17,633 61,731

131,231 10,475 2,365 24,222 94,169

52,276 8,161 999 26,749

148,368 2,268 18,305 127,795

149,674 19,805 394 12,452 117,023

787,092 42,277 5,223 87,576 649,156

192,432 7,395 78,715 106,322

69,014 9,347 ..............1,068 2,663 49,805

127,740 2,947 42,666 82,127

181,193 9,324 229 12,551 148,785

436,605 19,509 2,081 27,943 362,065

287,822 7,616 2,900 30,450 225,590

$17,559,555 $505,491 $228,565 $1,202,540 $13,710,571

182,843 7,048 21,008 135,394

615,169 24,379 ................ 481 198,517 391,792

192,518 11,241 19,000 161,895

198,160 21,367 3,037 52,298 121,458

1,508,554 54,769 205,697 83,912 1,120,078

314,628 14,061 3,946 42,827 253,794

953,012 36,203 15,404 39,181 862,224

13,594,671 336,423 745,797 10,663,936

$1,743,169 $92,877 $15,286 $163,058 $1,365,504

112,338 8,808 726 26,625 76,179

187,020 15,526 342 18,265 152,887

208,528 26,811 503 11,280 169,934

393,281 3,989 25,927 302,318

588,404 17,057 662 73,579 465,664

253,598 2 0 ,6 8 6 13,053 7,382 198,522

$7,284,845 $503,111 $29,244 $691,711 $5,937,717

1,022,726 93,769 1,746 88,458 824,911

1,037,081 51,449 8,104 183,301 794,227

483,140 12,795 54 48,277 422,014

4,741,898 345,098 19,340 371,675 3,896,565

$461,657 $32,199 $35,018 $394,440

461,657 32,199 35,018 394,440

$15,432,796 $511,202 $92,278 $4,593,479 $10,165,632

629 15,738

2,860

453 5,678

4,624

3,004

7,364

$159,056

1,561

5,680

22,003

13,902

$1,753,332

17,832

382

44,098

113,015

$12,388

1,735,500

$94,056

7,524

4,864

53,523

26,578

13,955

$24,000$99,062

13,842

85,220 24,000

$25,781 $44,424

1 Includes undistributed cash. Differs from amounts shown in Table 23 because of inclusion in the latter table of estimated additional payments based upon the appraised value

of unliquidated assets in active cases.

1 Includes undistributed cash. Differs from the sum of amounts shown in Table 26 as paid to RFC and to other stockholders because of inclusion in the latter table of the appraised

value of unliquidated assets returned to stockholders.

OPERATIONS TO PROTECT DEPOSITORS, 1 9 3 4 -1 9 5 8— PAYOFF CASES 83

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T ab le 28. R eceivers’ C ollections on V arious T ypes of A ssets of 244 T erm inated D eposit Payoff Cases1

DATA AS OF TERMINATION OF RECEIVERSHIP

Book assets on date of suspension8

Year of receivership Total

assets

Nonbook

assets8 Total

book

assets

Cash and

due from

banks

Loans

and

discounts

U . S.

Government

securities

Other

securities

Banking

house

Furniture

and

fixtures

Other

real

estate

Other

assets

T o ta l. 1934-1958 (244 banks)

Book valu e.................................. $134,549,313 $9,160,283 $125,389,030 $17,110,269 $60,976,457 $7,032,248 $15,241,383 $4,440,636 $998,740 $13,079,531 $6,509,766

C ollection s.................................. $97,823,017 $3,667,183 $94,155,834 $17,102,810 $43,548,068 $7,154,479 $13,051,497 $1,407,582 $251,132 $6,533,846 $5,106,420

Percent collected.................... 72.7% 40 .0 % 75.1% 99.96% 71.4% 101.7% 85.6% 31.7% 25.1% 50.0% 78.4%

1934 (9 banks)

Book value.................................... 2,778,406 121,185 2,657,221 186,413 1,341,925 630,202 246,313 40,175 102,950 68,109 41,133

Collections..................................... 1,914,296 111,300 1,802,996 179,883 705,180 646,902 216,457 18,056 4,251 22,179 10,088

Percent collected........................ 68.9 91.8 67.9 96.5 52.5 10 2 .6 87.9 44.9 4.1 32.6 24.5

1935 (24 banks)

Book value.................................... 11,672,545 567,386 11,105,159 1,973,370 6,169,485 710,015 511,308 388,844 70,211 962,304 319,623

Collections..................................... 8,983,354 470,338 8,513,016 1,973,370 4,272,883 729,321 399,651 201,702 13,635 761,660 160,794

Percent collected........................ 77.0 82.9 76.7 10 0 .0 69.3 102.7 78.2 51.9 19.4 79.1 50.3

1936 (42 banks)

Book value.................................... 13,967,193 978,348 12,988,845 2,137,574 6,343,848 896,042 1,506,503 331,755 127,944 734,879 910,301

Collections.................................... 10,315,605 302,768 10,012,837 2,136,774 4,308,481 924,453 1,330,310 125,357 33,645 388,518 765,299

Percent collected........................ 73.9 30.9 77.1 99.96 67.9 103.2 88.3 37.8 26.3 52.9 84.1

1937 (50 banks)

Book value.................................... 20,714,820 1,338,590 19,376,230 2,235,156 11,205,567 1,293,684 2,908,008 294,308 192,687 837,965 408,852

Collections..................................... 14,818,778 717,058 14,101,720 2,235,137 7,078,952 1,314,052 2,626,256 131,771 45,178 396,233 274,141

Percent collected........................ 71.5 53.6 72.8 99.99 63.2 1 0 1 .6 90.3 44.8 23.4 47.3 67.1

1938 (50 banks)

Book value.................................... 14,832,034 907,476 13,924,558 1,610,296 6,582,156 467,378 2,199,828 318,202 94,709 2,104,182 547,805

Collections..................................... 10,819,019 293,161 10,525,858 1,610,283 5,100,346 477,558 1,839,334 89,919 27,272 1,050,651 330,494

Percent collected........................ 72.9 32.3 75.6 99.99 77.5 1 0 2 .2 83.6 28.3 28.8 49.9 60.3

1939 (32 banks)

Book value.................................... 46,560,302 2,627,198 43,933,104 3,329,390 21,778,513 970,100 5,001,803 1,680,500 165,401 7,425,345 3,582,056

Collections..................................... 32,221,792 688,452 31,533,340 3,329,390 16,174,116 954,496 3,975,111 294,591 58,332 3,466,520 3,280,785

Percent collected........................ 69.2 26.2 71.8 10 0 .0 74.3 98.4 79.5 17.5 35.3 46.7 91.6

1940 (19 banks)

Book value.................................... 8,821,996 862,443 7,959,553 1,018,215 3,314,760 452,574 1,519,678 526,814 168,087 435,525 523,900

Collections..................................... 5,967,220 464,250 5,502,970 1,018,118 2,300,419 474,722 1,319,298 65,837 13,693 191,827 119,056

Percent collected........................ 67.6 53.8 69.1 99.99 69.4 104.9 8 6.8 12.5 8 .1 44.0 22.7

FEDERAL DEPOSIT INSURANCE CORPORATION

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1941 (7 banka)

Book value............

Collections.............

Percent collected.

1942 (6 banks)

Book value............

Collections.............

Percent collected.

1943 (4 banks)

Book value............

Collections.............

Percent collected.

1944 (1 bank)

Book value............

Collections.............

Percent collected.

4,319,371

3,624,691

83.9

306,491

86,382

28.2

4,012,880

3,538,309

88 .2

1.012.297

1.012.297

10 0 .0

1,530,118

1,118,053

73.1

407,031

420,302

103.3

848,477

832,921

98.2

70,630

43,236

61.2

20,681

11,899

57.5

91,614

73,918

80.7

1,964,937

1,694,976

86.3

361,887

172,209

47.6

1,603,050

1,522,767

95.0

500.512

500.512

10 0 .0

779,587

749,937

96.2

118,650

117,266

98.8

53,364

46,581

87.3

60,960

36,968

60.6

9,725

5,160

53.1

55,222

42,413

76.8

8,443,062

7,007,973

83.0

1,061,406

333,691

31.4

7,381,656

6,674,282

90.4

2.910.826

2.910.826

10 0 .0

1,846,467

1,661,535

90.0

968,872

989,144

1 0 2 .1

405,011

426,068

105.2

727,048

399,120

54.9

45,445

36,947

81.3

364,386

139,926

38.4

474,647 27,873 446,774 196,220 84,031 117,700 41,090 1,400

1,025

900

455,312 27,574 427,738 196,220 78,166 106,263 39,510 1 , 1 2 0

95.9 98.9 95.7 10 0 .0 93.0 90.3 96.2 73.2 124.4

32,031

25,683

80.2

25,030

23,930

95.6

113,601

110,716

97.5

5.434

5.434

100.0

Includes, as of December 31, 1958, all deposit payoff cases in which receiverships have been terminated with the exception of case number 234, for which detailed data are not

available..Collections shown in this table consist of offsets, cash collections, and appraised value of any residual assets returned to stockholders. They differ from collections as shown

m lable 27 because of (a) inclusion of appraised value of residual assets, (b) exclusion of income earned on assets while held for liquidation, (c) exclusion of collections representing

recovery of advances for protection of assets and, (d) exclusion of collections from stock assessments.

2 Equivalent to assets at date of suspension given in Table 23 except for exclusion of case number 234 from figures for 1941. Due to rounding differences, components may not

add precisely to the indicated totals.

* Includes charged-off assets, other unrecorded assets, surety bond in defalcation cases, etc. Amount on “ book value” lines is that recorded on receivers* books.

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— PAYOFF CASES 85

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86 FEDERAL DEPOSIT INSURANCE CORPORATION

D e p o s it A s s u m p t io n C a s e s

From 1935 through 1958 the Federal Deposit Insurance Corporation 

made disbursements in the cases of 182 distressed insured banks in order 

to facilitate the transfer of the deposits to sound insured banks. Detailed 

statistics on the individual assumption cases are given in Tables 31 to 35. 

The following discussion of legal provisions and Corporation procedures 

in such cases provides background for a better understanding of those 

tables.

Powers o f the Corporation. The Banking Act of 1933, which established the Federal Deposit Insurance Corporation, contained no provision 

whereby the Corporation could make disbursements in order to prevent 

threatened suspension of an insured bank. Such provisions were introduced on a temporary basis in the Banking Act of 1935, and were extended and made permanent by subsequent acts of Congress. Provided 

that in the judgment of the Board of Directors such action would reduce 

the risk or avert a threatened loss to the Corporation and would also 

facilitate the assumption of deposit liabilities of one insured bank by 

another, these provisions authorized the Corporation: (1) to make loans 

secured by the assets of an insured bank, (2) to purchase assets of an 

insured bank, or (3) to guarantee an insured bank against loss by reason 

of its assuming the liabilities and taking over the assets of another insured 

bank. These powers were continued in Section 13(e) of the Federal Deposit 

Insurance Act of 1950. One or more of these powers have been used by 

the Corporation in each of the 182 deposit assumption cases.

The Act of 1950 contained additional provisions under which the 

Corporation may act to protect depositors of distressed insured banks. 

These provisions, in Section 13(c) of the law, permit the Corporation: (1) 

to make loans to an insured bank, (2) to purchase the assets of an insured 

bank, or (3) to make deposits in an insured bank. They differ from the 

powers listed in Section 13(e) by the exclusion of the guarantee power 

and the inclusion of the power to make deposits in the distressed bank. 

The conditions for use of the powers in Section 13(c) are also different, 

in that these powers may be used whenever in the opinion of the Board 

of Directors the continued operation of the bank is essential to provide 

adequate banking service in its community. Up to the end of 1958 the 

authority of Section 13(c) had not been utilized by the Corporation.

Details of terms and conditions for the exercise of the various powers 

described above are not laid down in the law, but are determined by 

the Board of Directors of the Corporation. Such transactions are accomplished only when an agreement is obtained between the Corporation 

and the banks involved, each having considered its interests and alternatives. Such agreements have differed from case to case. The following

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description of procedures followed in the cases from 1935 through 1958 

should not therefore be taken as universally applicable to every case.

Corporation procedures in loan cases. When a loan to facilitate 

the assumption of deposits of a distressed bank by a sound insured bank 

is to be made, the known deposit liabilities of the distressed bank are 

listed, including both insured and uninsured deposits. The assuming 

bank agrees to take over these deposits and an equal amount of assets. 

Assets of the distressed bank are examined to determine those which are 

acceptable for transfer to the absorbing bank. The acceptable assets 

ordinarily include cash, amounts due from banks, and other high-quality 

assets. The assets which are unacceptable for transfer then become 

collateral for a loan by the Corporation to the distressed bank. This loan 

is made subject to repayment on demand. The amount of the loan is 

the difference between the liabilities of the distressed bank and its 

acceptable assets.

Concurrently with the making of the loan, an agreement between the 

two banks results in the assumption by the sound bank of the listed 

deposit liabilities of the distressed bank and of the transfer to the former 

of the acceptable assets, which now include the cash proceeds of the loan 

from the Federal Deposit Insurance Corporation. Loans made to distressed banks for the purposes under discussion are demand in form 

and the borrowing bank under such circumstances is normally not in 

a position to repay the loan. Also, the collateral is usually of unknown 

worth and may or may not be of sufficient value ultimately to repay the 

obligation. For these reasons, the normal practice is to make an immediate 

demand for payment in order to put the obligation in default, and 

thereby make effective the greater rights in the collateral which then 

accrue to the Corporation as pledgee.

From the proceeds of the liquidation are repaid advances made to 

protect the value of the assets, liquidation expenses, and, finally, the 

principal of the loan in such amount as collections permit. If the principal 

of the loan is fully repaid, further collections are first allocated to the 

Corporation as interest on the loan at the contractual rate of four percent. 

If the Corporation receives full payment of principal and interest, any 

excess collections and unliquidated assets are returned, under the terms 

of the loan, to the management or agents of the absorbed bank for the 

benefit of holders of debentures, capital notes, preferred stock, and 

common stock, according to their respective rights.

The loan procedure described above has been used in 112 of the 182 

cases of insured banks whose deposits were assumed with the aid of the 

Corporation. It was used with all but one bank so aided prior to 1939, 

and with some banks aided in 1939 and 1940. It was not used in the period 

1941 through 1958 due to the development of an alternative procedure

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8 8 FEDERAL DEPOSIT INSURANCE CORPORATION

to be described below. However, in one case since 1940 a loan of a different 

type than that described above was used to effect a deposit assumption. 

In this case the Corporation made a loan to the receiver rather than to 

the bank, which enabled the receiver to arrange for the deposit liability 

to be assumed by a newly organized insured bank.1

Corporation procedures in asset purchase cases. The effect of 

purchase by the Corporation of assets of a distressed bank is, like that 

of a loan, to replace those assets which are not acceptable for transfer 

to the absorbing bank with an amount of cash equal to the difference 

between the liabilities assumed and the acceptable assets. Once this 

has been done the procedure is similar to that in loan cases. The continuing bank assumes the known deposit liabilities of the distressed bank, 

receiving also an equivalent amount of assets.

The Corporation has exercised its power to purchase assets of distressed 

banks in two different ways, which may be called respectively special 

purchase and other purchase. In a special purchase transaction an 

accompanying agreement is made between the Corporation and the 

distressed bank, under which the Corporation liquidates the assets 

acquired, maintaining separate accounts for the assets from each bank 

aided. First claim upon the collections is for liquidation expenses and 

advances for protection of assets, after which further collections are 

applied toward the reimbursement of the amount paid by the Corporation 

for the assets. This includes the sum originally paid plus any disbursements subsequently necessary to provide for liabilities not known at 

the time of completing the purchase. If this amount is fully recovered, 

additional collections are applied under the terms of the agreement to an 

allowable return to the Corporation upon its unrecovered invested funds 

at the rate of four percent per annum. Finally, if collections are sufficient 

to repay the Corporation's full investment plus the above allowable 

return, the excess collections and any remaining unliquidated assets 

are returned to the selling bank or its agents, but the Corporation may 

under the terms of the agreement be required to complete the liquidation 

of such remaining assets, at the election of the selling bank.

The refund of excess collections in special purchase transactions is 

described in the purchase agreement as an addition to the purchase price 

of the assets acquired by the Federal Deposit Insurance Corporation, 

and in the accounts of the Corporation the refunds are so treated. However, in this study these amounts are treated as excess collections returned 

to the banks, in the same manner as for loan transactions.

The essence of the special purchase procedure is that it accomplishes 

the same objectives as the loan procedure without certain disadvantages 

attaching to the latter. One of these disadvantages is that in some cases

1 Deposit assumption case number 181.

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a bank is prevented, by State law or terms of its charter, from borrowing 

money or pledging assets beyond specified limits. Another is that the 

sale of collateral requires additional legal steps by which ownership of 

the assets is transferred to the Corporation, a process which in purchase 

cases is accomplished by the original agreement.

The first special purchase agreement was made in 1937 between the 

Corporation and a bank to which it also extended a loan. This was the 

only case in which such a purchase was used in conjunction with another 

type of transaction. Special purchases independent of other aid were 

first made in two cases occurring in 1939, and beginning in 1941 have 

been the only type of transaction used in deposit assumption cases, 

except for the loan made in 1956 to the receiver of a suspended bank 

and previously described. As of the end of 1958 special purchases had 

been made by the Corporation in a total of 69 cases.

The second type of purchase procedure, designated as an other purchase 

transaction in this study, has been followed in 18 cases, the last of which 

occurred in 1940. Other purchase transactions are distinguished from 

the special purchase transactions described above by the absence of an 

accompanying agreement to return any excess collections to the selling 

bank. Assets purchased are treated in the Corporation’s accounts like 

other property owned by the Corporation. Consequently, income and 

profits from the individual assets are treated as income to the Corporation, and expenses incident to their collection as Corporation expenses. 

However, in order to permit comparisons, the present study treats assets 

acquired in these transactions in the same manner as assets taken for 

collateral to loans or acquired under the special purchase agreements.

Of the 18 other purchase transactions, 17 occurred in conjunction with 

loans to the distressed banks. The assets purchased were chiefly banking 

houses and other real estate, often where mortgage moratoria laws 

involving restrictions on foreclosures made it impractical to lend money 

on such security. In one other purchase transaction, occurring in 1936, 

the Corporation purchased all of the unacceptable assets of the bank.

Guarantee procedures in deposit assumption cases. The power 

of the Corporation to guarantee an insured bank against loss by reason 

of its assuming the liabilities and purchasing the assets of another insured 

bank had not, up to the end of 1958, been used as an independent means of 

protecting the depositors of a distressed bank. While not used independently, the guarantee power has been used in conjunction with other types 

of transactions. In two special purchase cases the Corporation guaranteed 

the bank assuming the deposit liabilities against loss upon a portion 

of the assets transferred to that bank, by agreeing to purchase certain 

assets if they should go into default within a specified period of time.1

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—ASSUMPTION CASES 89

1 Deposit assumption case numbers 173 and 175.

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90 FEDERAL DEPOSIT INSURANCE CORPORATION

In one of these cases some of the assets were subsequently purchased 

by the Corporation from the assuming bank in fulfillment of the guarantee.1 

The cash paid for them is treated as part of the disbursement to the 

distressed bank, and the assets were liquidated as part of those acquired from that bank.

Characteristics of continuing banks. The deposit liabilities of 

most of the banks receiving financial aid from the Corporation in the 

ways described above were assumed by operating insured banks in the 

same or nearby communities. Often the assuming bank established a 

branch to operate in the quarters of the bank being taken over. In a 

number of other cases the deposit liabilities of the distressed banks were 

assumed by banks newly organized for that purpose. In a few cases 

two or more distressed banks were consolidated under a new charter 

or under the charter of one of the banks aided. On one occasion five 

banks receiving loans from the Corporation were so consolidated.

Stockholdings in deposit assumption cases. Since in assumption 

cases all depositors and other creditors of the distressed bank are fully 

protected against loss, problems of recovery exist only for the Federal 

Deposit Insurance Corporation and for the owners of capital in the 

absorbed banks.

On eight occasions when two banks receiving aid were merged into 

a newly organized bank, and in one case where the deposit liabilities of 

a single bank were assumed by a newly organized bank, the Reconstruction Finance Corporation furnished new capital by the purchase 

of preferred stock in the continuing banks. The Reconstruction Finance 

Corporation also received in these cases additional preferred stock in 

the continuing banks equal to any such stock held in the banks being 

aided, including accrued dividends thereon. The other preferred and 

common stockholders of the 17 banks involved in the above cases also 

received stock in the continuing banks in exchange for their stock in 

the old banks. The common stock so received ordinarily had a book 

value only because the par value of the preferred stock was much less 

than its redemption value. In the other 165 deposit assumption cases 

the stockholders of the banks aided by the Corporation received no 

interest in the assuming banks.

In those cases in which two distressed banks were merged into a single 

continuing bank and stock of the new bank given in exchange for that 

of the old banks, and in which both liquidations repaid the Corporation 

in full, excess collections and unliquidated assets were, in accordance 

with the original agreements, turned over to the continuing bank. Where 

only one of the banks repaid the Corporation in full, the excess collections

* Deposit assumption case number 175.

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and unliquidated assets were either applied by the Corporation to the 

second bank’s deficiency or turned over to the continuing bank, as the 

agreement prescribed.

Upon completion of loan or purchase transactions and the transfer 

of deposits to the assuming banks, the distressed banks either went into 

receivership or into voluntary liquidation, in accordance with the provisions of law. A receivership was in some cases necessary to preserve 

any liability of shareholders of the bank to creditors. The Federal Deposit 

Insurance Corporation was ordinarily the only creditor other than holders 

of debentures or capital notes (usually the Reconstruction Finance 

Corporation), or holders of deferred certificates and the like, all of whose 

claims were subordinate to that of the Corporation. In some cases stockholders made a voluntary contribution which was accepted in lieu of 

enforcement of double liability.

Where the bank was placed in voluntary liquidation, its directors 

would appoint a liquidating agent or committee to take charge of and 

liquidate any remaining assets after all obligations to the Federal Deposit 

Insurance Corporation had been paid, and to distribute the proceeds to 

the parties entitled to receive them. Where the Reconstruction Finance 

Corporation had an interest, the agreements entered into at the time 

of the loan or asset purchase usually provided that in the event the 

liquidating committee offered the unliquidated assets for public sale 

and the Reconstruction Finance Corporation was the successful bidder, 

the bank’s debentures, notes, or preferred stock held by that agency 

could be presented in payment.

Liquidation o f assets acquired by the Corporation. The liquidation of assets taken as collateral to loans or purchased from insured banks 

is entirely under the control of the Corporation until it has been paid in 

full and has returned any unliquidated assets to the bank. In some of the 

smaller deposit assumption cases the Corporation turned over the assets 

it acquired to the assuming bank for liquidation, under the Corporation’s 

close supervision. Usually, however, the Corporation appointed its own 

liquidator. Some of the larger liquidations required a liquidator, several 

assistants, and a clerical staff. Where several loans or purchases had been 

made in a particular area, the liquidation of the assets acquired from 

all of them was directed from a single field liquidation office.

Where an insured bank is placed in receivership, the receiver proceeds 

to liquidate all of the closed bank’s assets and distribute the proceeds 

to its creditors. By contrast, in a deposit assumption case where the 

Corporation extends financial assistance to the closed insured bank, 

by a loan or purchase, the assuming bank has the right under the terms 

of the arrangement to select the choice assets of the closed bank. Consequently, the assets acquired by the Corporation are usually the inferior

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 91

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92 FEDERAL DEPOSIT INSURANCE CORPORATION

assets of the closed bank and require more time and effort to fully liquidate. However, the Corporation is in a position to liquidate these assets 

in a more orderly manner and at the most favorable time, thereby avoiding some of the expenses which would be incurred if the closed bank had 

been placed in receivership.

Nearly every liquidation involves some assets upon which realization 

is very difficult. In cases where liquidation of other assets was sufficient 

to pay all amounts due to the Corporation, the residual assets were 

returned to the liquidating committee or receiver of the absorbed bank. 

In loan cases where full recovery to the Corporation was not possible, 

the residual assets were sometimes offered at public sale, and at such 

sale were often purchased outright by the Corporation as highest bidder, 

thereby terminating the case on the books of the Corporation. Some 

asset purchase cases where there was no possibility of complete recovery 

were terminated on the books of the Corporation in a similar manner, 

by transferring the residual assets of the various liquidations into a 

single special account for such assets.

Titles and locations of banks. The locations and names of all 

insured banks with which deposit assumption transactions were completed with the financial aid of the Corporation, and dates of last regular 

operations are given in Table 31. Also in this table is information as to 

class of bank, the nature of transaction, and case numbers used to identify 

the banks in succeeding tables.

Assets, deposits, and deposit accounts. Assets on the books of 

each bank on the date of its deposit assumption are shown in Table 32. 

Also shown in the table are the amount of deposits and number of deposit 

accounts, each adjusted to December 31, 1958. Such adjustment allows 

for deposit liabilities in defalcation cases which were unknown at the 

time of the assumption of the known deposits. In only two cases occurring 

before 1946 are there differences between the deposits at date of assumption and the deposits adjusted to the end of 1958.1 This results from the 

fact that only a few banks in difficulties due to defalcations in those 

years were given aid to facilitate the assumption of their deposits; in 

most such cases the bank suspended and was placed in receivership. 

However, in the years beginning with 1946 most of the cases have arisen 

from defalcations, and many therefore involved deposits not shown 

on the books at the date of the assumption of the known deposits.

Deposits and number of deposit accounts are each shown in the table 

with breakdowns for portions within the insurance maximum and in 

excess of the insurance maximum. This maximum was $5,000 in all 

cases prior to 1950 and in the first three cases of that year. The last case

1 Deposit assumption case numbers 51 and 147.

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OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 93

in 1950 and all subsequent cases occurred under the $10,000 insurance 

maximum established by the Federal Deposit Insurance Act of 1950. 

In each case the amount of deposits shown as within the insurance 

maximum includes $5,000 or $10,000, as may be appropriate, for each 

account which exceeds the maximum.

The information in Table 32 as to number of deposit accounts in 

deposit assumption cases differs from that as to number of depositors 

in deposit payoff cases in Table 24. In Table 32 each account held by 

a given depositor, for example a savings account and a checking account, 

is separately counted. Similarly, the deposit data involve no combining 

of accounts held by the same depositor, nor division of accounts owned 

by more than one person, nor any offsetting of indebtedness to the 

bank. These steps are taken only in deposit payoff cases.1 The $357.6 

million shown for deposits within the insurance maximum therefore 

represents an approximation, rather than a precise measure, of the amount 

which the Corporation would have paid to depositors had the banks 

gone into receivership and been handled as deposit payoff cases.

Assets and liabilities transferred, and Corporation disbursements. In each deposit assumption case the Federal Deposit Insurance 

Corporation makes a disbursement to the distressed bank which is equal 

to the difference between the deposit liabilities and the assets which are 

to be transferred to the assuming bank. At the same time the Corporation 

undertakes to pay the nondeposit liabilities of the distressed bank and 

also any liabilities not shown on the books at the date of the deposit 

assumption. When any such liabilities are paid by the Corporation, or 

when the Corporation compensates the assuming bank for assuming 

newly discovered deposits, the Corporation’s disbursement is correspondingly increased. Hence an equality exists between the liabilities of the 

distressed bank, and the sum of the assets transferred and the Corporation’s disbursement, both on the date of assumption and on any subsequent date. The statistics given in Table 33 are based upon this equality 

as it existed for each deposit assumption case on December 31, 1958.

Maintenance of the equality between the liabilities of the distressed 

bank and the sum of the assets transferred and the Corporation's disbursement depends, however, upon use of the appropriate concept of 

the Corporation’s disbursement. This concept is that of net principal 

disbursement. The term “ principal disbursement” excludes advances 

for protection of the value of assets held for liquidation, liquidation 

expenses, and absorbed insurance expenses.

The significance of the word “ net” in “ net principal disbursements” 

requires explanation. It is rarely possible at the time of the deposit

i See above, p. 39.

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Federal Reserve Bank of St. Louis
94 FEDERAL DEPOSIT INSURANCE CORPORATION

assumption to determine the exact amount of the disbursement which 

the Corporation will ultimately make, because of the existence of unknown 

liabilities or bookkeeping errors, or because of insufficient time for 

detailed tabulations. Two procedures have been used to meet this problem. In some cases the initial disbursement has been sufficient to provide 

only for the liabilities known at the time of assumption, supplemental 

disbursements being made as subsequently required. In other cases the 

initial disbursement has been large enough not only to cover known 

liabilities, but also to provide a special adjustment account which could 

be used as needed to cover liabilities subsequently discovered. Upon 

termination of the cases treated in the latter manner, any amount 

remaining in the adjustment account was returned to the general funds 

of the Corporation.

In the accounts of the Corporation, and in the statistics of disbursements and recoveries in deposit assumption cases regularly published 

in Annual Reports, the figures for disbursements include the entire 

amounts placed in adjustment accounts, and the recoveries include 

unused portions of those accounts. While this treatment is necessary in 

order to give effect in aggregate figures to sums disbursed by the Corporation, it does not permit accurate case by case comparisons in a detailed 

analysis such as this. Consequently, Table 33 shows for each bank both 

the principal disbursement, as ordinarily computed, and the “ net principal 

disbursement,” which latter amount represents, as illustrated by the 

table, the principal disbursement after deduction of the unused portion 

of the adjustment account in the cases of those banks for which such 

accounts were established.

As noted in Table 33, the amount shown as unused portion of adjustment accounts also includes refunds to the Corporation made by assuming 

banks in several cases. These refunds were due to discovery that certain 

deposit liabilities had been overstated at the time of their assumption 

by the assuming bank, and in one case to the return of an unused amount 

from a special account set up to cover audit fees. Ordinarily such refunds 

would have been credited to the adjustment accounts of the cases involved, but in these cases adjustment accounts did not exist, or were 

not so used. Instead the amounts were treated in the Corporation’s 

accounts as collections from the respective liquidations.

Federal Deposit Insurance Corporation recoveries and losses*

Table 34 repeats from Table 33 the net principal disbursement of the 

Corporation in each deposit assumption case, and shows also the portions 

of each disbursement which have been, or are expected to be, recovered 

or lost by the Corporation. It should be noted that the recoveries shown 

in the table do not include the unused portions of the adjustment accounts described above.

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Through the end of 1958 the Corporation had disbursed, exclusive of 

the unused portions of amounts transferred to special adjustment accounts, $196.5 million in all cases, with actual or expected recoveries 

on these net principal disbursements of $183.3 million, or 93.3 percent. 

There is no significant difference between the percentage recovery for 

cases occurring during the first 20 years, which include only a few active 

cases, and the estimated recovery for active cases occurring in the most 

recent five-year period, the two percentages being 93.3 and 93.6 respectively. Among the 157 terminated cases there were 89 in which the 

Corporation fully recovered its disbursements. Full recovery is estimated 

for 9 of the 25 active cases. Table 29 gives a distribution of the cases 

according to percentage recovery, or estimated recoveries, by the Corporation of its net principal disbursements.

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—ASSUMPTION CASES 95

T a b le 2 9 . D i s t r i b u t i o n o f D e p o s i t A s s u m p t io n C a s e s b y P e r c e n t a g e R e c o v e r y

o f t h e C o r p o r a t i o n ’s N e t P r i n c i p a l D i s b u r s e m e n t s

Percentage recovery 1 Number of cases Percent of cases

93.3 percent (average *)........................................................... 182 100.0%

100.0 percent.................................................................................... 98 53.8

90 to 99.9 percent........................................................................... 26 14.3

80 to 89.9 percent........................................................................... 23 12.6

70 to 79.9 percent........................................................................... 10 5.5

60 to 69.9 percent........................................................................... 8 4.4

50 to 59.9 percent........................................................................... 8 4.4

40 to 49.9 percent........................................................................... 5 2.7

80 to 39.9 percent........................................................................... 1 0.6

20 to 29.9 percent........................................................................... 2 1.1

10 to 19.9 percent........................................................................... 1 0.6

1 Includes estimated additional recoveries In active cases.

» Total recoveries on net principal disbursements in all cases.

In all of the cases in which the Corporation has fully recovered its 

disbursement it has also collected all or part of the interest or allowable 

return due it at the contractual rate of four percent. In one case, where 

the Corporation made a loan and also purchased assets outright, interest 

was collected on the loan although the Corporation incurred a loss on 

the asset purchase and consequently did not receive recovery of its full 

disbursement.1 Table 34 shows interest or allowable return collected.

Recovery by the Reconstruction Finance Corporation and other

holders of capital. The Reconstruction Finance Corporation held 

preferred stock, capital notes, or debentures of 100 banks whose deposits 

were assumed by other insured banks with financial aid of the federal 

Deposit Insurance Corporation. Nine of these cases remain active. For 

its preferred stock in 15 of the 100 cases in which it had an investment 

the Reconstruction Finance Corporation received new stock of equivalent

1 Deposit assumption case number 4.

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Federal Reserve Bank of St. Louis
96 FEDERAL DEPOSIT INSURANCE CORPORATION

retirable value in continuing banks.1 However, the retirable value of 

preferred stock in these 15 banks constituted nearly three-fourths of the 

total investment of the Reconstruction Finance Corporation in deposit 

assumption cases, so that nominal full recovery in the form of stock in 

continuing banks in these cases heavily influenced the figure of 77.1 

percent which, as shown in Table 34, represents recovery by the Reconstruction Finance Corporation in all deposit assumption cases. In the 

85 terminated cases in which stock in continuing banks was not received, 

the Reconstruction Finance Corporation recovered only 15.5 percent 

of its investment.

In 49 of these 85 cases no recovery was made by the Reconstruction 

Finance Corporation. Where recoveries were made they consisted partly 

of cash and unliquidated assets, the latter being included in the table at 

values as appraised by the Federal Deposit Insurance Corporation.

Table 34 also provides information as to investment and recovery 

of holders of capital other than the Reconstruction Finance Corporation. 

In addition to 17 cases in which holders of such capital received stock 

in a continuing bank, there were 43 cases in which some recovery was 

made from the return of excess collections or unliquidated assets to the 

stockholders by the Federal Deposit Insurance Corporation. In most 

of these the recovery was a minor fraction of the value of the capital 

investment.

Types and disposition o f collections from liquidations. The

amounts of funds collected by the Corporation in the liquidation of assets 

acquired in deposit assumption cases, and the disposition of such funds 

by the Corporation, are given in Table 35. Only collections actually made 

up to the end of 1958 are included, anticipated future recoveries in active 

cases being omitted from this table. Collections include not only the 

proceeds of liquidation, but also a substantial amount of income earned 

on the assets while being held for liquidation, and a comparatively small 

amount of funds received from assessments upon stockholders of the 

absorbed banks or contributions made by stockholders in lieu of enforcement of double liability.

The table also shows the allocation of the collections to cover liquidation expenses, advances made to protect the value of assets while held, 

principal and interest to the Corporation, and excess collections turned 

over to the banks.

Liquidation expenses and advances for protection of assets have 

first claim upon collections from a liquidation. As a result, all such 

expenses borne by the Corporation up to December 31, 1958, had by 

that date been fully recovered.

» See above, p. 90.

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Liquidation expenses in deposit assumption cases constituted 6 percent 

of collections.1 However, it should be remembered that in these cases 

only the assets unacceptable for acquisition by the assuming bank are 

liquidated by the Corporation. Thus it is probably more correct to 

compare liquidation expenses in deposit assumption cases with collections plus assets transferred, which total is shown in Table 35. When 

liquidation expenses are related to this latter total the ratio is 2.8 percent, 

which is an approximation to the ratio of liquidation expenses to collections which would have prevailed if the banks had gone into receivership 

and all of their assets been liquidated, on the assumption that the quality 

of those assets transferred to assuming banks was such that they would 

have been liquidated by a receiver at small expense and negligible loss. 

Table 30 presents a distribution of deposit assumption cases according 

to the ratio of liquidation expenses to collections plus assets transferred, 

and indicates that this ratio, like its counterpart for deposit payoff cases, 

generally varies inversely with size of bank.

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958—ASSUMPTION CASES 97

T a b le 3 0 . D i s t r i b u t i o n o f D e p o s i t A s s u m p t io n C a s e s b y R a t i o o f L i q u id a t i o n

E x p e n s e s t o C o l l e c t i o n s P l u s A s s e t s T r a n s f e r r e d

b a n k s g r o u p e d b y a m o u n t o f d e p o s it s

Banks with deposits (in thousands of dollars) of—

Ratio All

banks 100

or less

100

to

250

250

to

500

500

to

1,000

1,000

to

2,000

2,000

to

5,000

5.000

to

10.000

10,000

to

25,000

25.000

to

50.000

Total »............. 181 24 23 23 35 33 25 11 3 4

Less than 1 % .

1.0 to 1 .9 % ..

2 to 2 .9 % ..

3 to 3 .9 % ..

4 to 4 .9 % ..

5 to 5 .9 % ..

6 to 6 .9 % ..

7 to 7 .9 % ..

8 to 8 .9 % . .

9 to 9 .9 % ..

19 1 5 1 1 4 5 2

37 6 7 3 5 9 4 2 1

34

27

2 2

3

4

5

9

6

2

8

7

1

5

1

1

1

2

2

21 1 2 5 4 5 3 1

13 2 2 1 2 1 5

6 2 1 3

5 1 1 1 2

1 1

3 1 2

10 to 1 0 .9 % .

11 to 1 1 .9 % .

12% or more..

Average

r a tio 2..........

4 1 1 2

4 3 1

7 5 1 1

2 .8 % 7 .4 % 2 .8 % 4 .1 % 4 .2 % 3 .4 % 2 .6 % 2 .2 % 2 .4 % 2 .9 %

1 Includes 24 cases for which liquidations had not been terminated as of December 31,1958. Excludes

one active case for which sufficient information was not available.

2 Total expenses to total collections on assets acquired by the Federal Deposit Insurance Corporation plus assets transferred to assuming banks.

i Collections do not include unused portions of adjustment accounts; see p. 94.

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T a b le 31. C ase Num bers, Locations, Bank T itle s , and R e la te d Inform ation,

D ep osit Assumption C ases, 1935-1958

Case

number

Year of first FD IC disbursement

and location of bank with deposits

assumed

Title of bank Class of

bank1

Type of

transaction*

Last date of regular

banking operations

1

1935

Pennsylvania: Bethlehem E . P . Wilbur Trust Company N M L November 18, 1935

2

1936 x

Oklahoma: Clinton The First National Bank of Clinton N L February 1, 1936

3 Michigan: Ann Arbor ^ Farmers & Mechanics Bank SM L and OP February 15, 1936

4 Michigan: Ann Arbor The Ann Arbor Savings Bank ^ N M L and OP February 15, 1936

5 Michigan: Ann Arbor " The First National Bank and Trust Company of Ann Arbor N L and OP February 15, 1936

6 Missouri: Bosworth Citizens Bank of Bosworth N M L March 18, 1936

7 Kansas: Riley " The Farmers State Bank N M L March 24, 1936

8 Tennessee: Donelson Donelson Bank & Trust Co. N M L March 25, 1936

9 Missouri: Norborne " Norborne Trust Company N M L April 22, 1936

10 Missouri: Koshkonong Koshkonong State Bank N M L M ay 23, 1936

11 Illinois: Flat Rock " _ The Peoples State Bank of Flat Rock N M L June 17, 1936

12 New Jersey: Newark Central Bank and Trust Company N M L June 29,1936

13 Kentucky: Walton "" Walton Equitable Bank

The State Bank of Sarcoxie

N M L July 3, 1936

14 Missouri: Sarcoxie N M L July 11, 1936

15 Missouri: Durham - Durham State Bank N M L August 22, 1936

16 Oklahoma: Kingfisher Security Bank N M L September 15, 1936

17 Missouri: Stover ~ Stover Bank N M L October 3, 1936

18 Wisconsin: Cambria ^ Bank of Cambria N M L and OP December 1, 1936

19 Kansas: Brewster - The Brewster State Bank N M L December 7, 1936

20 North Dakota: Fargo Northern and Dakota Trust Company N M OP December 19, 1936

21 North Dakota: Minot y First International Bank N M L and OP December 19, 1936

22 North Dakota: Williston The First International Bank of Williston N M L and OP December 19, 1936

23 North Dakota: Berthold Bank of Berthold N M L and OP December 21, 1936

24 North Dakota: Coteau ^ ^ First State Bank N M L and OP December 21, 1936

25 North Dakota: Cummings The Cummings State Bank N M L and OP December 21, 1936

26 North Dakota: Makoti / Reservation State Bank N M L and OP December 21, 1936

27 North Dakota: M ax s First State Bank of Max N M L and OP December 21, 1936

28 North Dakota: Powers Lake First State Bank of Powers Lake N M L and OP December 21, 1936

FEDERAL DEPOSIT INSURANCE CORPORATION

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29

30

31

32

33

34

35

36

37

40

41

42

43

44

45

46

47

48

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

1937

North Dakota: Forman -

Montana: Ismay -*•

Tennessee: Robbins -

Virginia: Cape Charles '

Illinois: Grayville ''

Missouri: Carrollton "

Pennsylvania: Mahanoy City

South Dakota: Pukwana -

Missouri: Higginsville '

Missouri: Anutt -

Indiana: Michigan City ——•

Missouri: Maysville -

Alabama: Albertville -

Wisconsin: Brillion

Massachusetts: Stoneham

New Jersey: Westwood '

Texas: Lovelady

New Jersey: Perth Amboy "

Illinois: Mundelein -

New Jersey: Little Ferry

Iowa: Burlington —

Illinois: Cobden ~

Wisconsin: Loganville

North Carolina: Southport

New York: Manhasset —

1938

Wisconsin: Woodman

North Carolina: Fremont

Tennessee: Sparta

Virginia: Nassawadox

Iowa: Des Moines

Virginia: Norfolk

Illinois: Belleville

Illinois: Harrisburg

New Jersey: Camden

New Jersey: Camden

North Carolina: Ellenboro

Wisconsin: Sussex

Kentucky: Newport

North Carolina: Jefferson

Maryland: Frederick

Tennessee: Bethel Springs

Maryland: Takoma Park

Bank of Sargent County

The First National Bank of Ismay

Robbins Bank & Trust Company

Farmers & Merchants Trust Bank

The Farmers National Bank of Grayville

Carroll Exchange Bank

The First National Bank of Mahanoy City

The First National Bank of Pukwana

American Bank

Bank of Anutt

Michigan City Trust & Savings Bank

Kochan Banking Co.

The First National Bank of Albertville

Farmers and Merchants Bank

Stoneham Trust Company

Westwood Trust Company

The First National Bank of Lovelady

The First National Bank of Perth Amboy

State Bank of Mundelein

The Little Ferry National Bank

The First National Bank in Burlington

First State Bank of Cobden

Loganville State Bank

Peoples United Bank

First National Bank and Trust Company of Manhasset

The Woodman State Bank ~

The Bank of Fremont

Peoples Bank & Trust Company '

Bank of Northampton, Incorporated *

Home Savings Bank —

Merchants’ and Mechanics’ Savings Bank of the City of Norfolk

Belleville Bank & Trust Company **

The City National Bank of Harrisburg

Camden Safe Deposit & Trust Company '

West Jersey Trust Company

Bank of Ellenboro

Sussex State Bank "*

Central Savings Bank ^

The Bank of Ashe ~

Commercial Bank of Maryland —

Bethel Springs Bank "

Takoma Park Bank ^

N MN

N M

N MN

N MNN

N M

N M

N M

N MN

N M

N M

SMNN

N MNN

N M

N M

N MN

N M

N M

N M

N M

N M

N M

N MN

SM

N M

N M

N M

N M

N M

N M

N M

N M

L and OP

L and OP LLLLLLLL

L and SP LLLL

L and OP LLLLLLLLLLLLLLLLLLLLL

L and OP LLLL

January 14, 1937

February 20,1937

April 15, 1937

May 22,1937

May 27,1937

May 29,1937

June 5, 1937

June 16,1937

July 3, 1937

July 12, 1937

July 20, 1937

August 5, 1937

August 12, 1937

August 21, 1937

September 11,1937

September 30,1937

October 1, 1937

October 2, 1937

October 18, 1937

October 22, 1937

October 20, 1937

November 24, 1937

November 27,1937

December 2, 1937

December 20, 1937

January 22, 1938

January 29,1938

February 10,1938

March 3, 1938

March 5, 1938

March 26, 1938

January 26, 1938

April 9, 1938

April 11, 1938

April 11, 1938

April 9, 1938

M ay 14,1938

June 22, 1938

June 24, 1938

July 1, 1938

July 22, 1938

July 23, 1938

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 99

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 31. C ase Num bers, Locations, Bank T itle s , and R e la te d Inform ation,

D ep osit Assumption Cases, 1935-1958—Continued

Case

number

Year of first FD IC disbursement

and location of bank with deposits

assumed

Title of bank

Class of

bank1

Type of

transaction*

Last date of regular

banking operations

71

\ <5,'% *4

u * 4

New York: Saranac Lake The Saranac Lake National Bank N L September 24, 1938

72 Georgia: Eton Bank of Eton N M L October 12, 1938

73 Missouri: Bellflower Bank of Bellflower N M L November 5,1938

74 New York: Roosevelt The First National Bank of Roosevelt N L November 26,1938

75 Massachusetts: Lynn The National City Bank of Lynn N L December 3, 1938

76 Wisconsin: Coleman Coleman State Bank N M L December 14, 1938

77 Pennsylvania: Boiljjnsr Sorincrs Boilinc Sprines State Bank ✓ N M ...... h Derpmlwr 17. 1938

-------- -TO

79

Wisconsin: Hancock

Maryland: Hillsboro

Bank of Hancock

The Hillsboro-Queen Anne Bank, Incorporated

N M

N M

L

L

January 12, 1939

January 21, 1939

\ 80

v 7/ “

New Jersey: Camden The American National Bank of Camden N L February 4, 1939

New Hampshire: Groveton Groveton National Bank N L February 14, 1939

New Jersey: Camden North Camden Trust Company N M L February 11,1939

' / 83 Indiana: South Bend X St. Joseph County Savings Bank J r N M SP February 16,1939

/ 84 Indiana: South Bend The St. Joseph Loan & Trust Company N M SP February 16, 1939

85 New Jersey: Blackwood The First National Bank and Trust Company of Blackwood N L February 18, 1939

86 Kentucky: Frankfort Peoples State Bank N M L February 21, 1939

87 Florida: Brooksville The First National Bank in Brooksville N L February 25, 1939

88 New Jersey: Rahway Rahway Trust Company SM L March 11, 1939

89 Wisconsin: Eden Eden State Bank N M L March 18, 1939

90 New Jersey: Plainfield

Illinois: Brussels

The First National Bank of Plainfield N L April 8, 1939

91 Bank of Brussels N M L April 14, 1939

92 New Jersey: Jersey City The Trust Company of New Jersey N M L April 20, 1939

93 New Jersey: Jersey City W est Bergen Trust Company N M L April 20, 1939

94 New Jersey: Hoboken Columbia Trust Company of New Jersey N M L April 29, 1939

95 New Jersey: Union City Hudson Trust Company N M L April 29, 1939

96 New York: Eden Bank of Eden N M L April 29, 1939

97 New Jersey: Gloucester City Gloucester City Trust Company N M L June 3, 1939

98 New Jersey: Union City Commonwealth Trust Company N M L June 3 , 1939

99 New Jersey: Union City Merchants Trust Company N M L June 3, 1939

100 New Jersey: Harrison W est Hudson County Trust Company N M L June 30,1939

101 New Jersey: Kearny Kearny National Bank N L June 30,1939

102 Illinois: Rardin Rardin State Bank N M L August 30, 1939

103 New Jersey: Egg Harbor City The Egg Harbor Commercial Bank N M L October 7, 1939

104 Kansas: Cuba The Farmers State Bank N M L November 25, 1939

105 New York: Yonkers The Yonkers National Bank and Trust Company N L December 4, 1939

FEDERAL DEFOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

126

127

128

129

130

131

132

133

134

135

136

137

138

139

140

141

142

143

144

145

1940

Pennsylvania: Philadelphia

New Jersey: North Bergen

New York: Brocton

New York: Westfield

Vermont: White River Junction

New Jersey: Swedesboro

Washington: Wenatchee

New York: Baldwinsvilie

New York: Syracuse

North Dakota: Reeder

New York: Harrison

New York: Rye

Pennsylvania: Bally

New York: Southampton

New Jersey: Scotch Plains

New Jersey: Westfield

Wisconsin: Plainfield

Wisconsin: Chaseburg

New York: Pleasant ville

New York: Williams ville

Iowa: Mount Union

New York: Utica

New York: Holley

California: Santa Monica

1941

New York: Port Chester

New York: Port Chester

Kansas: Parsons

New York: Au Sable Forks

Michigan: St. Charles

Pennsylvania: Franklin

Pennsylvania: Franklin

1942

Pennsylvania: Scranton

Kentucky: Louisa

New Jersey: Haddonfield

New York: Freeport

Pennsylvania: Weatherly

New York: Floral Park

Pennsylvania: Emmaus

Pennsylvania: Dallastown

Pennsylvania: Lehighton

Integrity Trust Company

Woodciiff Trust Company

Bank of Brocton

The National Bank of Westfield

Hartford Savings Bank and Trust Company

The Swedesboro National Bank

The First National Bank of Wenatchee

Baldwinsvilie State Bank

First Trust & Deposit Company

Bank of Reeder

The First National Bank of Harrison

The Rye National Bank

The First National Bank of Bally

The Southampton Bank

First State Bank of Scotch Plains

The Westfield Trust Company

Waushara County Bank

Chaseburg State Bank

Mount Pleasant Bank & Trust Co.

Bank of Williamsville

M t. Union State Bank

First Citizens Bank & Trust Company of Utica

The State Exchange Bank

The American National Bank of Santa Monica

The First National Bank and Trust Company of Port Chester

Mutual Trust Company of Westchester County

The Exchange State Bank

Bank of Au Sable Forks

St. Charles State Bank

The Franklin Trust Company

The Lamberton National Bank of Franklin

Providence Bank

The Louisa National Bank

The Haddonfield National Bank

The Citizens National Bank of Freeport

The First National Bank of Weatherly

Floral Park Bank and Trust Company

The Emaus National Bank

The First National Bank and Trust Company of Dallastown

The First National Bank of Lehighton

SM

N M

N MN

N MNN

N M

SM

N MNNN

SM

N M

SM

N M

N M

SM

N M

N M

SM

N MNN

SM

N M

N M

SM

N MN

N MNNNN

SMNNN

L January 13,1940

L February 3,1940 L February 24,1940

L February 24,1940

L March 9, 1940

L and OP March 16, 1940

L March 26, 1940

SP April 6, 1940

SP April 6, 1940

L April 17, 1940

SP April 20, 1940

SP April 20, 1940

L April 27, 1940

SP June 8, 1940

SP June 22, 1940

SP June 22, 1940

SP June 25, 1940

SP July 13, 1940

SP July 20, 1940

SP July 27, 1940

L August 24, 1940

SP September 14, 1940

SP November 23,1940

SP December 4, 1940

SP April 26, 1941

SP April 26, 1941

SP June 21, 1941

SP September 27, 1941

SP December 13, 1941

SP December 20, 1941

SP December 20, 1941

SP January 17,1942

SP January 31,1942

SP February 28, 1942

SP March 7, 1942

SP March 14, 1942

SP March 28, 1942

SP April 25, 1942

SP June 20,1942

SP August 1, 1942

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— ASSUMPTION CASES 101

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 31. C ase Num bers, Locations, B ank T itle s , and R e la te d In form ation ,

D ep osit Assumption Cases, 1935-1958—Continued

Case

number

Year of first F D IC disbursement

and location of bank with deposits

assumed

Title of bank

Class of

bank1

Type of

transaction1

Last date of regular

banking operations

146 Pennsylvania: Lehighton Citizens National Bank and Trust Company of Lehighton N SP August 1, 1942

147 Oregon: Burns The Harney County National Bank of Burns N SP August 29, 1942

148 Pennsylvania: Mahanoy City Merchants Banking Trust Company SM SP September 12, 1942

149 Pennsylvania: Selinsgrove The Farmers National Bank of Selinsgrove N SP October 17, 1942

150 Pennsylvania: Mount Carmel

1943

Guarantee Trust and Safe Deposit Company of Mount

Carmel, Pa.

N M SP November 28, 1942

151 New York: Watertown

1944

The Jefferson County National Bank of Watertown N SP September 25, 1943

152 Pennsylvania: Susquehanna

1945

The First National Bank of Susquehanna N SP M ay 27, 1944

153 Virginia: Fredericksburg

1946

The Farmers and Merchants State Bank of Fredericksburg,

Virginia, Incorporated

N M SP January 13,1945

154 Virginia: Churchville

1947

Augusta County Bank, Inc. N M SP September 14, 1946

155 Wyoming: Evanston The First National Bank of Evanston N SP January 11,1947

156 Illinois: Lemont The First National Bank of Lemont N SP January 25,1947

157 Pennsylvania: Central City The Central City National Bank N SP July 12, 1947

158 South Carolina: Donalds Peoples Bank of Donalds N M SP November 29,1947

159 Wisconsin: Lyons

1948

Lyons State Bank N M SP December 6, 1947

160 New Jersey: Newark Columbus Trust Co. SM SP July 24, 1948

161 Oklahoma: Pryor The American National Bank of Pryor Creek N SP November 20, 1948

162 Texas: Franklin

1949

First State Bank SM SP December 18, 1948

163 Indiana: Dyer The First National Bank of Dyer N SP February 19, 1949

164 Montana: Martinsdale Stockmens Bank of Martinsdale N M SP April 30, 1949

165 Ohio: Weston The Citizens Banking Company N M SP June 11, 1949

166 Indiana: Spencerville Farmers & Merchants State Bank N M SP October 8 ,1 9 4 9

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
167

1950

Michigan: Westphalia The Westphalia State Bank N M SP April 1, 1950

168 North Carolina: Aurora The Bank of Aurora N M SP July 22, 1950

169 Illinois: Minooka The Farmers First National Bank of Minooka N SP August 12, 1950

170 Pennsylvania: Cecil First National Bank in Cecil N SP October 7, 1950

171

1951

Missouri: Brazeau Brazeau Bank N M SP January 20, 1951

172 Pennsylvania: New Kensington The Parnassus National Bank N SP August 25, 1951

173

1952

Alabama: Thomasville Thomasville Bank & Trust Co. N M SP January 18,1952

174 Illinois: Camden Camden State Bank N M SP April 10, 1952

175 Arkansas: Dierks Bank of Dierks N M SP August 16, 1952

176

1953

Pennsylvania: Mayfield Mayfield State Bank N M SP February 11, 1953

177 Illinois: Elmwood Park First State Bank of Elmwood Park N M SP April 11, 1953

178

1954

Georgia: Ila Bank of Ila N M SP August 7, 1954

179 Kentucky: Whitesville Bank of Whitesville N M SP September 30, 1954

180

1955

Maine: Fort Fairfield Frontier Trust Company N M SP October 1, 1955

181

1956

New York: Ellenville The Home National Bank of Ellenville N L December 4 ,1 9 5 6

182

1957

N o deposit assumption case in this year

1958

Ohio: Rushville The Rushville Banking Company N M SP M ay 24, 1958

1 N — National bank; SM — State bank, member of Federal Reserve System; N M — State bank not member of Federal Reserve System.

* L— Loan; SP— Special purchase; OP— Other purchase.

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 103

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 32. A ssets, D ep osits, and Num ber o f D ep osit A ccounts, D ep osit Assumption C ases, 1935-1958

o

Year and

case number

Assets (adjusted)

at date of deposit

assumption1

Amount of deposits, adjusted to

December 31, 1958

Number of deposit accounts, adjusted to

December 31, 1958

Total

Within

insurance

maximum2

In excess of

insurance

maximum

Total

Within

insurance

maximum8

In excess of

insurance

maximum

T o ta l, all cases.................. $513,965,292 $466,527,166 $357,586,819 $108,940,347 1,034,733 1,024,678 10,055

Cases, 1935-53................. 494,603,929 449,368,139 343,452,610 105,915,529 1,008,273 998,415 9,858

Cases, 1954-58................. 19,361,363 17,159,027 14,134,209 3,024,818 26,460 26,263 197

1935...................................... $4,917,728 $4,228,816 $2,961,122 $1,267,694 12,324 12,247 77

1*.................................... 4,917,728 4,228,816 2,961,122 1,267,694 12,324 12,247 77

1936...................................... $18,966,367 $16,267,363 $12,599,303 $3,668,060 45,793 45,446 347

2 ...................................... 478,526 418,441 325,253 93,188 1,250 1,245 5

3 ...................................... 4,190,202 3,677,384 2,713,080 964,304 11,086 11,002 84

4 ...................................... 7,203,813 6,526,650 4,717,400 1,809,250 12,916 12,762 154

5 ...................................... 1,988,651 1,627,442 1,306,228 321,214 3,613 3,577 36

6 ...................................... 96,953 74,348 74,348 293 293

7 ...................................... 98,026 70,878 70,878 541 541

8 ...................................... 153,890 131,005 131,005 1,086 1,086

9 ...................................... 186,181 121,493 119,257 2,236 447 446 1

10 ...................................... 58,774 47,839 45,858 1,981 330 329 1

11 ...................................... 90,287 61,274 61,274 218 218

12 ...................................... 477,279 361,387 333,258 28.129 2,290 2,282 8

1 3 ...................................... 285,505 228,076 227,731 345 988 987 1

14 ...................................... 115,888 99,714 99,714 554 554

1 5 ...................................... 143,037 124,184 121,793 2,391 644 642 2

16 ...................................... 169,103 149,073 142,235 6,838 1,084 1,081 3

1 7 ...................................... 178,540 154,385 148,165 6,220 747 745 2

18 ...................................... 394,274 319,759 286,490 33,269 925 921 4

19 .......................... 98,641 74,937 74,937 780 780

2 0 ...................................... 791,435 474,371 407,031 67,340 746 734 12

2 1 ...................................... 373,246 359,500 254,343 105,157 1,061 1,047 14

2 2 ...................................... 792,346 762,675 547,393 215,282 2,106 2,090 16

23 ................................... 113,556 82,396 82,896 296 296

2 4 ...................................... 65,924 42,264 32,834 9,430 117 116 1

2 5 ...................................... 62,150 29,832 29,815 17 117 116 1

2 6 ...................................... 109,233 77,712 76,243 1,469 440 438 2

27 ____ 137,236 99,843 99,843 619 619

28 .......................... 113,671 70,501 70,501 499 499

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1937.

29.

30.

31.

32.

33.

34.

35.

36.

37.

38.

39.

40.

41.

42.

43.

44.

45.

46*

47.

48.

49.

50.

51.

52.

53.

1938.

54.

55.

56.

57.

58.

59.

60.

61.

62*

63*

64.

65.

66.

67.

68.

69.

70.

$21,086,182 $18,388,811 $16,441,020

184,939 154,245 154,228

107,710 82,781 70,077

42,657 28,874 28,874

1,036,504 843,728 814,757

313,435 257,689 255,551

905,554 786,733 754,012

2,312,686 2,056,933 1,890,660

171,270 125,613 108,197

283,152 219,761 218,630

41,572 32,642 32,642

1,168,228 990,136 829,840

187,532 172,402 172,402

660,738 427,993 384,311

237,299 160,083 158,639

977,034 796,265 724,580

633,868 647,721 613,839

104,176 77,227 77,190

4,482,807 3,660,339 3,408,623

587,098 521,965 485,650

791,011 742,641 651,627

3,463,603 3,595,136 2,751,854

90,441 52,287 50,427

592,685 496,449 466,119

188,852 161,973 115,149

1,521,331 1,297,195 1,223,142

$55,592,712 $49,388,115 $38,065,995

191,892 151,901 140,054

408,056 341,359 329,238

154,468 122,526 111,224

395,888 299,602 269,121

1,418,406 1,245,718 982,379

3,382,040 2,941,212 2,428,595

2,898,048 2,780,131 1,953,327

1,066,252 905,173 799,099

25,198,085 22,626,493 16,727,797

9,082,377 8,238,526 5,423,212

97,227 54,479 54,479

374,025 294,856 288,071

1,512,781 1,361,251 1,273,177

376,062 311,781 280,609

1,714,984 1,410,075 1,299,740

64,803 39,354 39,354

2,263,093 2,078,840 1,940,754

$1,947,791

17

12,704

..........28,971

2,138

32,721

166,273

17,416

1,131

160,296

43,682

1,444

71,685

33,882

37

251,716

36,315

91,014

843,282

1,860

30,330

46,824

74,053

$11,322,120

11,847

12,121

11,302

30,481

263,339

512,617

826,804

106,074

5,898,696

2,815,314

6,785

88,074

31,172

110,335

188,086

56,239 55,921 318

792 791

1

216 215

1

265 265

2,600 2,589 11

1,186 1,183 3

2,227 2,209 18

4,161 4,132 29

1,103 1,102

1

1,129 1,127

2

143 143

2,779 2,761 18

963 963

2,437 2,430

7

765 764

1

4,377 4,368

9

2,818 2,806 12

456 455

1

10,350 10,282 68

1,406 1,397

9

3,215 3,194 21

5,648 5,570 78

287 286

1

1,060 1,051

9

664 660

4

5,192 5,178 14

159,673 158,454 1,219

229 224

5

1,071 1,065 6

787 784 3

1,830 1,828

2

5,892 5,869 23

4,781 4,686 95

4,506 4,471 35

2,336 2,316 20

53,916 53,217 699

41,693 41,534 159

597 597

833 829 4

10,974 10,957 17

1,952 1,950 2

6,221 6,195 26

227 227

8,044 8.002 42 8

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 105

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 32. A ssets, D ep osits, and Num ber o f D ep osit A ccounts, D ep osit Assumption Cases, 1935-1958—Continued

Year and

case number

Assets (adjusted)

at date of deposit

assumption1

Amount of deposits, adjusted to

December 31, 1958

Number of deposit accounts, adjusted to

December 31, 1958

Total

Within

insurance

maximum*

In excess of

insurance

maximum

Total

Within

insurance

maximum*

In excess of

insurance

maximum

7 1 .................................... 506,185 489,894 447,967 41,927 2,797 2,794 3

72 .......................... 49,997 28,764 28,764 321 321

73 .......................... 69,319 51,564 51,564 325 325

7 4 .................................... 1,127,920 999,718 871,332 128,386 3,981 3,960 21

7 5 ................................... 2,756,646 2,222,597 1,957,937 264,660 4,669 4,613 56

76 .......................... 270,553 244,828 244,828 809 809

7 7 .................................... 213,605 147,473 123,373 24,100 882 881 1

1939...................................... $137,588,630 $125,033,947 $103,486,276 $21,547,671 302,549 300,017 2,532

7 8 ................................... 313,527 247,880 224,549 23,331 700 697 3

7 9 ................................... 306,202 248,816 220,756 28,060 1,659 1,662 7

8 0 ................................... 1,122,399 798,017 757,739 40,278 3,615 3,601 14

81 380,002 295,961 295,961 1,780 1,780

8 2 ................................... 978,554 810,079 654,584 155,495 4,226 4,223 3

8 3 ................................... 1,989,844 1,585,320 1,461,066 124,254 2,853 2,806 47

8 4 .................................... 4,188,426 3,202,039 2,138,379 1,063,660 7,548 7,505 43

8 5 .................................... 785,880 702,873 669,943 32,930 4,696 4,686 10

8 6 .................................... 2,117,442 1,930,792 677,378 1,253,414 2,839 2,811 28

8 7 .............. .................... 322,129 273,957 245,395 28,562 1,194 1,189 5

8 8 .................................... 1,352,124 1,184,474 889,087 295,387 3,796 3,771 25

8 9 ................................... 207,530 182,635 169,865 12,770 440 439 1

90*.................................. 4,086,830 4,070,256 3,712,723 357,533 13,876 13,778 98

91 168,563 140,406 140,406 574 574

92*.................................. 53,641,688 48,772,882 41,402,682 7,370,200 111,420 110,490 930

9 3 .................................... 3,157,776 2,680,558 2,100,197 580,361 11,568 11,545 23

9 4 .................................... 1,551,075 1,479,016 1,428,437 50,579 4,459 4,429 30

9 5 ................................... 25,580,458 24,484,755 19,089,264 5,395,491 32,943 32,285 658

9 6 .................................... 954,067 729,482 481,773 247,709 1,432 1,421 11

9 7 .................................... 1,281,784 1,155,203 903,292 251,911 7,528 7,512 16

9 8 .................................... 6,467,187 5,752,735 4,935,704 817,031 12,946 12,850 96

99*.................................. 5,834,714 5,590,513 4,967,085 623,428 16,293 16,195 98

100.................................... 6,637,170 5,805,554 4,809,099 996,455 15,185 15,045 140

101.................................... 3,433,366 3,096,952 2,707,433 389,519 13,468 13,430 38

102 59,887 37,598 37,598 321 321

103.................................... 1,038,658 859,548 840,919 18,629 4,166 4,153 13

104 116,179 93,775 93,775 398 398

105*.................................. 9,515,169 8,821,871 7,431,187 1,390,684 20,626 20,431 195

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1940...................................... $153,938,220 $136,772,503 $85,909,731

106.................................... 36,168,220 29,312,109 16,916,274

107.................................... 1,644,525 1,486,979 1,471,070

108.................................... 476,949 441,762 360,710

109.................................... 1,715,952 1,606,119 1,456,692

110.................................... 504,395 350,051 350,051

I l l .................................... 851,881 665,289 602,503

112.................................... 1,688,403 1,537,552 1,408,909

113.................................... 918,631 802,178 711,420

114*.................................. 52,467,765 48,155,718 28,250,553

115.................................... 152,031 124,829 124,829

116.................................... 2,097,862 1,914,299 1,363,229

117.................................... 3,751,124 3,342,506 2,861,157

118.................................... 779,029 599,285 571,028

119.................................... 1,416,257 1,258,398 1,059,266

120.................................... 660,519 606,908 569,879

121.................................... 4,974,388 4,652,574 3,761,901

122.................................... 308,422 270,484 256,300

123.................................... 450,352 340,885 339,933

124.................................... 2,462,491 2,134,737 1,881,121

125.................................... 1,992,792 1,751,058 1,519,567

126.................................... 217,458 177,627 144,149

127*.................................. 35,911,349 33,177,441 18,005,394

128.................................... 1,091,571 985,391 918,320

129.................................... 1,235,854 1,078,324 1,005,476

1941...................................... $16,992,726 $14,987,391 $11,919,121

130................................... 5,590,931 5,157,050 4,103,698

131.................................... 2,750,906 2,494,900 2,082,105

132.................................... 548,521 454,832 375,778

133.................................... 909,183 799,611 716,745

134.................................... 460,873 408,780 391,325

135*.................................. 3,713,546 3,196,475 2,175,427

136.................................... 3,018,766 2,475,743 2,074,043

1942...................................... $20,152,721 $17,369,446 $15,435,336

137.................................... 1,122,944 753,722 743,639

138.................................... 549,279 476,825 369,600

139.................................... 2,931,882 2,648,836 2,148,350

140.................................... 1,424,679 1,279,289 1,042,077

141.................................... 586,031 520,749 505,304

142................................... 2,257,145 1,999,029 1,930,577

143.................................... 1,441,240 1,398,946 1,318,453

144.................................... 1,546,711 1,350,525 1,265,903

145.................................... 2,161,773 1,834,362 1,745,160

$50,862,772 235,694 232,399 3,295

12,395,385 52,642 52,204 438

15,909 5,569 5,556 13

81,052 1,201 1,188 13

149,427 3,495

2,370

2,388

3,464

2,370

2,375

31

62,786 13

128,643 4,179 4,144 35

90,758 3,849 3,824 25

19,905,165 67,228 65,830 1,398

550 550

..........551,070 4,502 4,456 46

481,349 9,183 9,080 103

28,257 2,255 2,246

9

199,132 2,219 2,180 39

37,029 5,291 5,279 12

890,673 9,284 9,172 112

14,184 624 615

9

952 743 741

2

253,616 5,897 5,853 44

231,491 4,396 4,359 37

33,478 449 444

5

15,172,047 41,038 40,168 870

67,071 3,173 3,151 22

72,848 3,169 3,150 19

$3,068,270 34,411 34,049 362

1,053,352 13,364 13,239 125

412,795 8,382 8,326 56

79,054 1,172 1,167

5

82,866 1,834 1,826

8

17,455 1,938 1,936

2

1,021,048 4,526 4,441 85

401,700 3,195 3,114 81

$1,934,110 54,971 54,649 322

10,083 2,880 2,865 15

107,225 1,329 1,327

2

500,486 6,886 6,830 56

237,212 9,631 9,606 25

15,445 1,874 1,872

2

68,452 7,575 7,546 29

80,493 5,280 5,263 17

84,622 3,546 3,531 15

89,202 3,634 3,594 40

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 107

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Federal Reserve Bank of St. Louis
Table 32. A ssets, D ep osits, and N um ber o f D ep osit A ccounts, D ep osit Assumption Cases, 1935-1958— Continued

Year and

case number

Assets (adjusted)

at date of deposit

assumption1

Amount of deposits, adjusted to

December 31, 1958

Number of deposit accounts, adjusted to

December 31, 1958

Total

Within

insurance

maximum2

In excess of

insurance

maximum

Total

Within

insurance

maximum2

In excess of

insurance

maximum

146................................... 1,340,501 1,104,362 1,062,881 41,481 3,815 3,790 25

147.................................... 1,226,701 1,301,594 1,097,794 203,800 2,209 2,164 45

148.................................... 1,229,877 859,316 738,987 120,329 1,834 1,818 16

149.................................... 785,522 718,978 691,060 27,918 2,367 2,360 7

150................................... 1,548,436 1,122,913 775,551 347,362 2,111 2,083 28

1943......................................... $6,676,573 $5,887,692 $4,426,572 $1,461,120 10,454 10,270 184

151.................................... 6,676,573 5,887,692 4,426,572 1,461,120 10,454 10,270 184

1944......................................... $1,650,788 $1,459,091 $1,378,121 $80,970 4,588 4,556 32

152................................... 1,650,788 1,459,091 1,378,121 80,970 4,588 4,556 32

1945......................................... $6,391,915 $5,695,202 $4,198,036 $1,497,166 12,483 12,306 177

153.................................... 6,391,915 5,695,202 4,198,036 1,497,166 12,483 12,306 177

1946......................................... $351,169 $346,815 $335,209 $11,606 1,383 1,378 5

154.................................... 351,169 346,815 335,209 11,606 1,383 1,378 5

1947......................................... $6,797,748 $7,040,038 $6,012,481 $1,027,557 10,637 10,434 203

155................................... 1,802,907 2,033,058 1,407,132 625,926 3,212 3,145 67

156.................................... 1,666,213 1,748,969 1,640,625 108,344 2,868 2,822 46

157................................... 1,692,739 1,709,000 1,575,493 133,507 2,081 2,040 41

158................................... 761,574 713,609 626,039 87,570 1,445 1,430 15

159*.................................. 874,315 835,402 763,192 72,210 1,031 997 34

1948......................................... $10,360,196 $10,674,225 $9,390,779 $1,283,446 18,540 18,288 252

160................................... 7,892,501 7,920,755 7,320,217 600,538 14,881 14,688 193

161.................................... 1,773,779 2,144,434 1,561,926 582,508 2,587 2,541 46

162.................................... 693,916 609,036 508,636 100,400 1,072 1,059 13

1949......................................... $4,885,620 $5,475,137 $4,435,503 $1,039,634 5,671 5,453 218

163................................... 3,156,855 3,379,217 2,811,938 567,279 3,342 3,206 136

164.................................... 634,205 797,235 555,721 241,514 435 397 38

165................................... 740,285 793,729 586,443 207,286 959 927 32

1663.................................. 354,275 504,956 481,401 23,555 935 923 12

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
1950...................................... $4,005418 $5,512,554 $4,352,688 $1,159,866 6,366 I 6,218 148

167*.................................. 744,421 1,132,017 946,184 185,833 1,182 1,130 52

168*.................................. 1,291,405 975,181 874,983 100,198 2,447 2,424 23

169.................................... 1,331,539 1,403,646 805,582 598,064 955 911 44

170*.................................. 637,753 2,001,710 1,725,939 275,771 1,782 1,753 29

1951......................................

171....................................

$3,049,908

144,406

$3,408,346

148,113

3,260,233

$3,145,043

148,113

2,996,930

$263,303 5,276

367

5,250

367

26

172*.................................. 2,905,502 283,303 4,909 4,883 26

1952......................................

173*..................................

$2,388,391

1,030,600

838,249

$3,170,466

1,757,029

817,422

$3,076,398

1,757,029

747,595

$94,068 6,752

4,674

1,173

6,735

4,674

1,161

17

174*.................................. 69,827 12

175.................................... 519,542 596,015 571,774 24,241 905 900 5

1953...................................... $18,811,217 $18,262,181 $15,883,876 $2,378,305 24,469 24,345 124

176.................................... 1,354,848 1,305,034 1,162,423 142,611 2,380 2,365 15

177*.................................. 17,456,369 16,957,147 14,721,453 2,235,694 22,089 21,980 109

1954-58*

5 active cases.............. $19,361,363 $17,159,027 $14,134,209 $3,024,818 26,460 26,263 197

1 As shown by books of banka after adjustments, if any, for liabilities or overdrafts discovered subsequent to closing. Excludes charged-off and other nonbook assets. Differs slightly

from data published in previous Annual Reports because of minor corrections and rounding differences.

2 Without offsetting of depositors’ indebtedness to banks. Each account of depositors having more than one account is separately included and accounts belonging to more

than one person are not divided.

8 Active case; liquidation not terminated as of December 31, 1958.

* Includes cases 178-179 in 1954, 180 in 1955, 181 in 1956, and 182 in 1958; there was no deposit assumption case in 1957. Combined totals, rather than individual case data, are

shown for deposit assumption cases occurring during the five years 1954-58, all of which cases are active.

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 109

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Federal Reserve Bank of St. Louis
Table 33. L i a b i l i t i e s o f B a n k s w i t h D e p o s i t s A s s u m e d , A s s e t s T r a n s f e r r e d t o A s s u m in g B a n k s , a n d D is b u r s e m e n t s

o f t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n t o B a n k s w i t h D e p o s i t s A s s u m e d , 1935-1958

D a t a a s o f D e c e m b e r 31, 1958

Year and

case number

Liabilities of bank with

deposits assumed

Deposits Other

Assets

transferred

plus net

FD IC disbursement

(equals total

liabilities)

transferred

to assuming

bank

Federal Deposit Insurance Corporation disbursement

Net

principal

disbursement1

Unused

portion of

adjustment

account

Principal disbursement

Total

Loan or

special

purchase

Other

purchase

of assets

T o ta l, all ca se s..................

Cases, 1935-53..................

Cases, 1954-58..................

193 5 

I 2.....................................

193 6 

2 .........................................

3 

4 

5 

6 

7 

8 

9 .........................................

1 0 .........................................

1 1...................................

1 2 .........................................

1 3 

1 4 

1 5 

1 6 

1 7 

1 8 

1 9 

2 0 

2 1 .........................................

2 2 .........................................

2 3 

2 4 

2 5 

2 6 

2 7 

2 8 

$466,527,166

449,368,139

17,159,027

$4,228,816

4,228,816

$16,267,363

418,441

3,677,384

6,526,650

1,627,442

74,348

70,878

131,005

121,493

47,839

61,274

361,387

228,076

99,714

124,184

149,073

154,385

319,759

74,937

474,371

359,500

762,675

82,396

42,264

29,832

77,712

99,843

70,501

$4,049,493

3,747,503

301,990

$9,748

9,748

$91,726

325

9,260

11,330

6,156

144

369

259

221

66

91

2,866

7,878

582

1,259

7,416

1,876

10,711

223

12,204

4,950

3,647

1,078

689

523

752

1,168

5,683

$470,576,659

453,115,642

17,461,017

$4,238,564

4,238,564

$16,359,089

418,766

3,686,644

6,537,980

1,633,598

74,492

71,247

131,264

121,714

47,905

61,365

364,253

235,954

100,296

125,443

156,489

156,261

330,470

75,160

486,575

364,450

766,322

83,474

42,953

30,355

78,464

101,011

76,184

$274,105,616

260,673,023

13,432,593

$1,373,671

1,373,671

$9,637,994

366,379

2,135,116

4,043,811

903,215

54,959

48,150

94,256

107,205

34,407

19,073

289,049

127,992

79,519

114,614

124,259

117,613

126,849

46,509

3,754

122,095

497,715

27,300

13,244

20,303

25,187

41,980

63,441

$196,471,043

192,442,619

4,028,424

$2,864,893

2,864,893

$6,721

52

1,551

2,494

730

19

23

37

14

13

42

75

107

20

10

32

38

203

28

482

242

268

56

29

10

53;

59

22,

,095

,387

,528

,169

,383

,533

,097

,008

,509

,498

,292

,204

,962

,777

,829

,230

,648

,621

,651

,821

,355

,607

,174

,709

,052

,277

,031

,743

$1,604,407

1,604,407

$4,293

595

419

205

759

427

439

193

374

432

402

$198,075,450

194,047,026

4,028,424

$2,864,893

2,864,893

$6,725,388

52,387

1,551,528

2,494,169

730,383

19,533

23,097

37,008

14,509

13,498

42,292

75,204

107,962

21,372

11,248

32,230

38,696

203,621

28.651

482,821

242,560

269,366

56,601

30,148

10,245

53.651

59,463

23,145

$196,885,763

192,857,339

4,028,424

$2,864,893

2,864,893

$5,676,985

52,387

1,333,275

2,306,919

706,973

19,533

23,097

37,008

14,509

13,498

42,292

75,204

107,962

21,372

11,248

32,230

38,696

196,121

28,651

............195,058’

240,884

41,095

20,686

3,744

47,497

55,712

11,334

$1,189,687

1,189,687

$1,048,403

*218,253

187,250

23,410

7,500

482,821

47,502

28,482

15,506

9,462

6,501

6,154

3,751

11,811

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1937.................................................. $18,388,811 $235,844 $18,624,655 $11,525,338

2 9 .................................................. 154,245 428 154,673 132,674

3 0 .................................................. 82,781 435 83,216 56,562

3 1 .................................................. 28,874 105 28,979 20,047

3 2 .................................................. 843,728 778 844,506 357,409

3 3 .................................................. 257,689 815 258,504 176,516

3 4 .................................................. 786,733 2,809 789,542 521,891

3 5 .................................................. 2,056,933 5,621 2,062,554 730,949

3 6 .................................................. 125,613 636 126,249 103,161

3 7 .................................................. 219,761 575 220,336 93,768

3 8 .................................................. 32,642 312 32,954 18,626

3 9 .................................................. 990,136 2,871 993,007 747,867

4 0 .................................................. 172,402 416 172,818 139,018

4 1 .................................................. 427,993 100,012 528,005 385,646

4 2 .................................................. 160,083 624 160,707 145,257

4 3 .................................................. 796,265 14,697 810,962 547,422

4 4 .................................................. 647,721 2,124 649,845 552,762

4 5 .................................................. 77,227 224 77,451 34,087

462................................................ 3,660,339 16,470 3,676,809 1,196,154

4 7 .................................................. 521,965 2,910 524,875 230,174

4 8 .................................................. 742,641 1,272 743,913 450,764

4 9 .................................................. 3,595,136 69,388 3,664,524 3,450,427

5 0 .................................................. 52,287 1,032 53,319 31,554

5 1 .................................................. 496,449 5,498 501,947 266,685

5 2 .................................................. 161,973 214 162,187 127,507

5 3 .................................................. 1,297,195 5,578 1,302,773 1,008,411

1938.................................................. $49,388,115 $432,754 $49,820,869 $28,448,758

5 4 .................................................. 151,901 1,155 153,056 103,582

5 5 .................................................. 341,359 737 342,096 293,190

56 .................................................. 122,526 428 122,954 82,839

57.................................................. 299,602 1,299 300,901 72,113

58.................................................. 1,245,718 18,439 1,264,357 467,031

5 9 .................................................. 2,941,212 28,708 2,969,920 1,322,500

6 0 .................................................. 2,780,131 34,243 2,814,374 1,453,816

6 1 .................................................. 905,173 3,458 908,631 796,339

622................................................ 22,626,493 246,574 22,873,067 14,280,407

632................................................ 8,238,526 49,371 8,287,897 5,245,274

6 4 .................................................. 54,479 638 55,117 14,365

6 5 .................................................. 294,856 1,670 296,526 202,924

6 6 .................................................. 1,361,251 9,326 1,370,577 556,533

6 7 .................................................. 311,781 1,304 313,085 146,042

68 .................................................. 1,410,075 292 1,410,367 413,533

6 9 .................................................. 39,354 158 39,512 12,557

70 .................................................. 2,078,840 4,220 2,083,060 769,911

$7,099,317

21,999

26,654

8,932

487.097

81,988

267,651

1,331,605

23,088

126,568

14,328

245,140

33,800

142,359

15,450

263,540

97,083

43,364

2,480,655

294,701

293,149

214.097

21,765

235,262

34,680

294,362

$21,372,111

49,474

48,906

40,115

228,788

797,126

1,647,420

1,360,558

112,292

8,592,660

3,042,623

40,752

93,602

814,044

167,043

996,834

26,955

1,313,149

$16,594 fl $7,115,911 $7,087,518

394 22,393 20,893

372 27,026 17,174

500 9,432 9,432

487,097 487,097

81,988 81,988

267,651 267,651

802 1,332,407 1,332,407

377 23,465 23,465

126,568 126,568

272 14,600 14,600

630 245,770 245,770

316 34,116 34,116

264 142,623 142,623

795 16,245 16,245

2,020 265,560 265,560

97,083 80,042

465 43,829 43,829

6,623 2,487,278 2,487,278

811 295,512 295,512

448 293,597 293,597

263 214,360 214,360

435 22,200 22,200

297 235,559 235,559

500 35,180 35,180

10 294,372 294,372

$15,022 $21,387,133 $21,308,840

796 50,270 50,270

48,906 48,906

461 40,576 40,576

228,788 228,788

325 797,451 797,451

171 1,647,591 1,647,591

1,360,558 1,360,558

17 112,309 112,309

2,475 8,595,135 8,595,135

7,303 3,049,926 3,049,926

90 40,842 40,842

739 94,341 94,341

186 814,230 735,937

167,043 167,043

280 997,114 997,114

186 27,141 27,141

116 1,313,265 1,313,265

$28,393

1,500

9,852

17,041

$78,293

78,293

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 111

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Table 33. L i a b i l i t i e s o f B a n k s w i t h D e p o s i t s A s s u m e d , A s s e t s T r a n s f e r r e d t o A s s u m in g B a n k s , a n d D is b u r s e m e n t s

o f t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n t o B a n k s w i t h D e p o s i t s A s s u m e d , 1935-1958— Continued

D a t a a s o f D e c e m b e r 31, 1958

Year and

case number

Liabilities of bank with

deposits assumed

Deposits Other

Assets

transferred

plus net

FDIC disbursement

(equals total

liabilities)

Assets

transferred

to assuming

bank

Federal Deposit Insurance Corporation disbursement

Net

principal

disbursement1

Unused

portion of

adjustment

account

Principal disbursement

Total

Loan or

special

purchase

Other

purchase

of assets

71.

72.

73.

74.

75.

76.

77.

1 9 3 9 ..

78.

79.

80.

81.

82.

83.

84.

85.

86.

87.

88.

89.

90J

91.

922

93.

94.

95.

96.

97.

98.

992

100.

101.

102.

103.

104.

1052

489,894

28,764

51,564

999,718

2,222,597

244,828

147,473

$125,033,947

247,880

248,816

798,017

295,961

810,079

1,585,320

3,202,039

702,873

1,930,792

273,957

1,184,474

182,635

4,070,256

140,406

48,772,882

2,680,558

1,479,016

24,484,755

729,482

1,155,203

5,752,735

5,590,513

5,805,554

3,096,952

37,598

859,548

93,775

8,821,871

1,732

699

333

12,943

12,603

938

1,486

$1,190,266

1,442

1,007

1,456

857

10,464

4,450

5,264

4,081

1,973

440

3,255

564

17,608

606

856,701

21,961

7,618

86,971

7,521

5,661

24,628

26,391

31,745

22,200

13

2,909

795

41,685

491,626

29,463

51,897

1,012,661

2,235,200

245,766

148,959

$126,224,213

249,322

249,823

799,473

296,818

820,543

1,589,770

3,207,303

706,954

1,932,765

274,397

1,187,729

183,199

4.087.864

141,012

49,629,583

2,702,519

1,486,634

24,571,726

737,003

1.160.864

5,777,363

5,616,904

5,837,299

3,119,152

37,611

862,457

94,570

8,863,556

287,958

12,519

33,104

816,788

937,344

86,897

41,192

$84,728,774

124,255

186,288

157,237

179,471

304,022

1,206,580

2,604,728

210,416

1,781,476

177,266

485,881

126,073

2,085,285

34,181

35,609,190

1,712,151

745,589

17,940,786

301,773

811,906

3,192,422

2,503,560

3,386,041

2,556,428

22,657

113,667

74,284

6,095,161

203,668

16,944

18,793

195,873

1,297,856

158,869

107,767

$41,495,439

125,067

63,535

642,236

117,347

516,521

383,190

602,575

496,538

151,289

97,131

701,848

57,126

2,002,579

106,831

14,020,393

990,368

741,045

6.630.940

435,230

348,958

2.584.941

3,113,344

2,451,258

562,724

14,954

748,790

20,286

2,768,395

174

305

401

264

733

$78,140

108

173

672

129

336

1,892

54

2,815

186

1,579

441

5,394

7,339

1,281

4,053

4,313

7,462

2,217

2,676

9,010

5,861

7,985

7,625

194

3,983

90

272

203,842

16,944

19,098

195,873

1,298,257

159,133

108,500

$41,573,579

125,175

63,708

642,908

117,476

516,857

385,082

602,629

499,353

151,475

97,131

703,427

57,567

2,007,973

114,170

14,021,674

994,421

745,358

6,638,402

437,447

351,634

2,593,951

3,119,205

2,459,243

570,349

15,148

752,773

20,376

2,768,667

203,842

16,944

19,098

195,873

1,298,257

159,133

108,500

$41,573,579

125,175

63,708

642,908

117,476

516,857

385,082

602,629

499,353

151,475

97,131

703,427

57,567

2,007,973

114,170

14,021,674

994,421

745,358

6,638,402

437,447

351,634

2,593,951

3,119,205

2,459,243

570,349

15,148

752,773

20,376

2,768,667

112 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1940..

106.

107.

108.

109.

110.

111.

112.

113.

114*

115.

116.

117.

118.

119.

120.

121.

122.

123.

124.

125.

126.

1272

128.

129.

1941..

130.

131.

132.

133.

134.

1352

136.

1942..

137.

138.

139.

140.

141.

142.

143.

144.

145.

$136,772,503

29,312,109

1,486,979

441,762

1,606,119

350,051

665,289

1,537,552

802,178

48,155,718

124,829

1,914,299

3,342,506

599,285

1,258,398

606,908

4,652,574

270,484

340,885

2,134,737

1,751,058

177,627

33,177,441

985,391

1,078,324

$14,987,391

5,157,050

2,494,900

454,832

799,611

408,780

3,196,475

2,475,743

$17,369,446

753,722

476,825

2,648,836

1,279,289

520,749

1,999,029

1,398,946

1,350,525

1,834,362

$1,192,046

85,027

1,345

619

1,615

1,774

9,692

5,100

3,501

209,125

1,372

1,539

3,251

1,976

5,444

2,669

15,389

764

10,296

7,534

22,459

1,152

786,438

4,800

9,165

$89,493

62,238

4,857

4,259

4,890

3,258

8,702

1,289

$88,289

1,114

1,453

3,439

2,207

1,463

42,406

5,450

7,833

2,987

$137,964,549

29,397,136

1,488,324

442,381

1,607,734

351,825

674,981

1,542,652

805,679

48,364,843

126,201

1,915,838

3.345.757

601,261

1,263,842

609,577

4,667,963

271,248

351,181

2,142,271

1,773,517

178,779

33,963,879

990,191

1,087,489

$15,076,884

5,219,288

2.499.757

459,091

804,501

412,038

3,205,177

2,477,032

$17,457,735

754,836

478,278

2,652,275

1,281,496

522,212

2,041,435

1,404,396

1,358,358

1,837,349

$69,318,604

9,656,134

906,394

361,925

1,257,207

166.003

181,470

616,616

398,688

25,260,863

118,086

1,722,110

2,947,018

156,050

449,107

553,737

3,578,387

176,478

108,481

948,503

1,062,464

120.003

17,636,632

697,220

239,028

$3,543,173

3,272,798

..........49,140

211,380

6,577

1,624

1,654

$8,389,325

77,445

287,489

1,984,853

937,457

101,056

916,206

777,826

825,584

1,124,914

$68,645,945

19,741,002

581,930

80,456

350,527

185,822

493,511

926,036

406,991

23,103,980

8,115

193,728

398,739

445,211

814,735

55,840

1,089,576

94,770

242,700

1,193,768

711,053

58,776

16,327,247

292,971

848.461

$11,533,711

1,946,490

2,499,757

409,951

593,121

405.461

3,203,553

2,475,378

$9,068,410

677,391

190,789

667,422

344,039

421,156

1,125,229

626,570

532,774

712,435

$592,972

36,121

4,655

1,963

4,392

326

6,165

9,069

4,020

60,124

625

9,409

13,567

18,715

14,472

3,775

13,424

1,691

10,816

3,126

567

363,234

24

12,692

$68,566

13,311

3,586

10,309

4,567

889

17,095

18,809

$144,458

14,166

914

10,517

3,376

12,389

33,350

6,966

10,391

8,756

$69,238,917

19,777,123

586,585

82,419

354,919

186,148

499,676

935,105

411,011

23,164,104

8,740

203,137

412,306

463,926

829,207

59,615

1,103,000

96,461

242,700

1,204,584

714,179

59,343

16,690,481

292,995

861,153

$11,602,277

1,959,801

2,503,343

420,260

597,688

406,350

3,220,648

2,494,187

$9,212,868

691,557

191,703

677,939

347,415

433,545

1,158,579

633,536

543,165

721,191

$69,204,319

19,777,123

586,585

82,419

354,919

186,148

465,078

935,105

411,011

23,164,104

8,740

203,137

412,306

463,926

829,207

59,615

1,103,000

96,461

242,700

1,204,584

714,179

59,343

16,690,481

292,995

861,153

$11,602,277

1,959,801

2,503,343

420,260

597,688

406,350

3,220,648

2,494,187

$9,212,868

691,557

191,703

677,939

347,415

433,545

1,158,579

>633,536

543,165

721,191

$34,598

34,598

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 113

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
146

147

148

149

150

1943.

151

1944.

152

1945.

153

1946.

154

1947.

155

156

157

158

1593

1948.

160

161

162

1949.

163

164

165

[l i t i e s o f B a n k s w i t h D e p o s it s A s s u m e d , A s s e t s T r a n s f e r r e d t o A s s u m i n g B a n k s , a n d D i s b u r s e m e n t s

e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t io n t o B a n k s w i t h D e p o s i t s A s s u m e d , 1935-1958— Continued

D a t a a s o f D e c e m b e r 31, 1958

Liabilities of bank with

deposits assumed

Deposits

1,104,362

1,301,594

859,316

718,978

1,122,913

$5,887,692

5,887,692

$1,459,091

1,459,091

$5,695,202

5,695,202

$346,815

346,815

$7,040,038

2,033,058

1,748,969

1,709,000

713,609

835,402

$10,674,225

7,920,755

2,144,434

609,036

$5,475,137

3,379,217

797,235

793,729

504,956

Other

2,944

8,042

1,373

2,652

4,926

$13,981

13,981

$4,958

4,958

$14,744

14,744

$622

622

$24,332

13,160

6,327

1,065

697

3,083

$23,044

15,292

6,238

1,514

$19,684

11,098

817

3,632

4,137

Assets

transferred

plus net

FD IC disbursement

(equals total

liabilities)

1,107,306

1,309,636

860,689

721,630

1,127,839

$5,901,673

5,901,673

$1,464,049

1,464,049

$5,709,946

5,709,946

$347,437

347,437

$7,064,370

2,046,218

1,755,296

1,710,065

714,306

838,485

$10,697,269

7,936,047

2,150,672

610,550

$5,494,821

3,390,315

798,052

797,361

509,093

transferred

to assuming

bank

441,253

360,593

147,348

209,178

198,123

$4,231,855

4,231,855

$369,259

369,259

$3,941,965

3,941,965

$126,764

126,764

$5,533,037

1,938,819

1,354,948

1,630,810

576,773

31,687

$7,809,457

6,439,275

999,633

370,549

$3,193,711

2,109,135

408,364

587,359

88,853

Federal Deposit Insurance Corporation disbursement

Net

principal

disbursement1

666,053

949,043

713,341

512,452

929,716

$1,669,818

1,669,818

$1,094,790

1,094,790

$1,767,981

1,767,981

$220,673

220,673

$1,531,333

107,399

400,348

79,255

137,533

806,798

$2,887,812

1,496,772

1,151,039

240.001

$2,301,110

1,281,180

389,688

210.002

420,240

Unused

portion of

adjustment

account

2,793

12,813

9,848

9,193

8,986

$2,282

2,282

$4,052

4,052

$256

256

$43,965

43,965

$192,721

94,826

79,059

13,935

652

4,249

$102,020

18,029

75,167

8,824

$250,475

981

36,673

47,558

165,263

Principal disbursement

Total

Loan or

special

purchase

668,846

961,856

723,189

521,645

938,702

668,846 .

961,856 ,

723,189 ,

521,645 ,

938,702

$1,672,100

1,672,100

$1,672,100 .

1,672,100 .

$1,098,842

1,098,842

$1,098,842

1,098,842 .

$1,768,237

1,768,237

$1,768,237 .

1,768,237 .

$264,638

264,638

$264,638 .

264,638 .

$1,724,054

202,225

479,407

93,190

138,185

811,047

$1,724,054 .

202,225 .

479,407

93,190 .

138,185

811,047 .

$2,989,832

1,514,801

1,226,206

248,825

$2,989,832 .

1,514,801

1,226,206 .

248,825

$2,551,585

1,282,161

426,361

257,560

585,503

$2,551,585

1,282,161

426,361

257,560 .

585,503 .

Other

purchase

of assets

FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
195 0 

167*..................

168*...................

169...................

170*...................

195 1 

171...................

1722.....

195 2 

1732...................

1742...................

17 5 

195 3 

17 6 

177*...................

1954-58®

5 active cases

$5,512,554

1,132,017

975,181

1,403,646

2,001,710

$242,675

14,380

198,571

3,150

26,574

$5,755,229

1,146,397

1,173,752

1,406,796

2,028,284

$1,815,824

180,037

243,999

1,158,008

233,780

$3,939,405

966,360

929,753

248,788

1,794,504

$3,408,346

148,113

3,260,233

$10,824

340

10,484

$3,419,170

148,453

3,270,717

$1,536,490

85,324

1,451,166

$1,882,680 

63,129

1,819,551 .

$3,170,466

1,757,029

817,422

596,015

$19,695

15,109

1,691

2,895

$3,190,161

1,772,138

819,113

598,910

$1,860,998

934,444

453,903

472,651

$1,329,163

837,694

365,210

126,259

$18,262,181

1,305,034

16,957,147

$42,778

12,482

30,296

$18,304,959

1,317,516

16,987,443

$13,288,026

1,137,453

12,150,573

$5,016,933

180,063

4,836,870 .

$17,159,027 $301,9907 $17,461,017 $13,432,593 $4,028,424

$46,234

1,599

8,945

80

35,610*

$2,220

2,220

$40,137

15,0834

7,6905

17,3645

$3,985,639

967,959

938,698

248,868

1,830,114

$1,884,900

65,349

1,819,551

$1,369,300

852,777

372,900

143,623

$5,016,933

180,063

4,836,870

$4,028,424

$3,985,639

967,959

938,698

248,868

1,830,114

$1,884,900

65,349

1,819,551

$1,369,300

852,777

372,900

143,623

$5,016,933

180,063

4,836,870

$4,028,424

1 Equals principal disbursement minus unused portion of adjustment account.

* Active case; liquidation not terminated as of December 31, 1958, but no change in data is anticipated.

* Includes $10,912 refunded to the Corporation by the assuming bank due to overstatement of deposit liabilities at time of the deposit assumption, which amount was not credited

to the adjustment account.

4 Consists of refunds to the Corporation by the aaanming bank of $83 due to overstated deposit liabilities and of $15,000 from a special reserve set up for audit fees. N o adjustment account was established in this case.

6 Refunded to the Corporation by the assuming bank due to overstatement of deposit liabilities. N o adjustment account was established in this case.

8 Includes cases 178-179 in 1954, 180 in 1955, 181 in 1956, and 182 in 1958; there was no deposit assumption case in 1957. Combined totals, rather than individual case data,

are shown for deposit assumption cases occurring during the five years 1954-58, all of which cases are active.

7 For case 181 excludes $111,533 of other liabilities settled directly by the receiver and not transferred to the assuming bank.

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 115

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Federal Reserve Bank of St. Louis
Table 34. R e c o v e r y b y t h e F e d e r a l D e p o s it In su r a n c e C o r p o r a tio n , R e c o n s tr u c tio n F in a n c e C o r p o r a tio n ,

an d O w n e r s o f O t h e r C a p ita l, D e p o s it A ssu m p tion C a se s, 1935-1958

DATA AS OF TERMINATION OF LIQUIDATION1

Year

and

number

T o ta l, all

cases..

Cases,

1935-53

1954-58

1 9 3 5 ... 

V . .

1 9 3 6 ..

2 . .

3 . .

4 . .

5. .

6 . .

7. .

10. . 

11. . 

12. .

13. .

14. .

15. .

16. .

1 7 ..

18. .

19. .

2 0 . . 

21. .

2 2 . .

23. .

24. .

25 . .

28. .

27. .

2 8 ..

Federal Deposit Insurance Corporation

Net principal disbursement

Total

$196,471,043

192,442,619

4,028,424

$2,864,893

2,864,893

$6,721,095

52,387

1,551,528

2,494,169

730,383

19,533

23,097

37,008

14,509

13,498

42,292

75,204

107,962

20,777

10,829

32,230

38,648

203,621

28,651

482,821

242,355

268,607

56,174

29,709

10,052

53,277

59,031

22,743

Recovery by FDIC3

Amount

$183,306,532

179,534,108

3.772.424

$1,899,893

1,899,893

$5,725,927

42,228

1,472,680

2.443.424

595,438

19,533

23,097

30,496

13,958

13,498

41,144

23,550

107,962

20,777

10,829

32,230

38,648

115,446

28,651

126,930

153,071

229,002

36,474

23,930

11,508

23,033

24,965

23,425

Percent

9 3 .3 %

93.3

93.6

6 6 .3 %

66.3

8 5 .2 %

80.6

94.9

98.0

81.5

100.0

100.0

82.4

96.2

100.0

97.3

31.3

100.0 

100.0 

100.0 

100.0 

100.0

56.7

100.0

26.3

63.2

85.3

64.9

80.5

114.5

43.2

42.3

103.0

Loss to

FDIC

$13,164,511

12,908,511

256.000

$965,000

965.000

$995,168

10,159

78,848

50,7451

134,945

$8,469,265

8,469,265

6,512

551

1,148

51,654

88,175

355,891

89,284

39,605

19,700

5,779

(1,456)!

30,244

34,066

(682)«

Accrued

interest

or

allowable

return

collected

Absorbed

insurance

expense

$106,804

95,841

519

428

433

863

1,382

640

782

2,933

1,905

139

$174,830

79,276

95,554

Reconstruction Finance Corporation

Investment

(redemption

value)

$38,616,707

38,616,707

$335,000

25,000

10,000

15,000

5,000

10,000

25,000

150,000

20,000

10,000

15.000

15.000

20.000

15,000

Recovery4 *

Amount

By

exchange

for new

stock

$28,159,058

28,159,058

From

liquidation4

$1,618,265

1,618,265

$24,813

5,000

840

15,000

’ 3,973

Percent

7 7 .1 %

77.1

7 .4 %

100.0

8.4

100.0

26.5

Stockholders2

Value of

stock

$28,776,360

28,186,360

590.000

$315,000

315.000

$1,679,000

25.000

250.000

500.000

250.000

20.000

10,000

9,000

60,000

10,000

25.000

100.000

50.000

15.000

15.000

25.000

10.000

30.000

10.000

100,000

35.000

40.000

15.000

10.000

15.000

15.000

15.000

20.000

ments

paid

by

stockholders5

$217,810

217,810

$196,348

37.500

75,000

37.500

9,250

5,780

8,337

3,546

1,344

11,383

2,879

3,829

Recovery*

By

exchange

for new

stock

$9,140,137

9,140,137

Other

(estimated)8

$2,288,381

1,938,381

350,000

$28,795

9,583

10,896

1,929

2,588

3,798

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
19 3 7 ..

29. .

3 0 ..

31. .

32. .

33. .

34. .

35. .

36. .

37. .

38. .

39. .

40. .

41. .

42. .

43. .

44. .

45. .

467.

47. .

48. .

49. .

50. .

51. .

52. .

5 3 ..

1 9 3 8 ..

54. .

55. .

56. .

5 7 ..

5 8 ..

5 9 ..

6 0 ..

61. .

62?.

637.

64. .

6 5 ..

66.. 

6 7 ..

€ 8 ..

6 9 . .

7 0 . .

$7,099,317

21,999

26,654

8,932

487.097

81,988

267,651

1,331,605

23,088

126,568

14,328

245,140

33,800

142,359

15,450

263,540

97,083

43,364

2,480,655

294,701

293,149

214.097

21,765

235,262

34,680

294,362

$21,372,111

49,474

48,906

40,115

228,788

797,126

1,647,420

1,360,558

112,292

8,592,660

3,042,623

40,752

93,602

814,044

167,043

996,834

26,955

1,313,149

$6,073,893

12,768

24,550

8,932

447,484

70,372

267,651

863,895

23,088

74,030

14,328

245,140

33,800

142,359

15,450

209,860

72,404

28,976

2,480,655

285,259

117,354

120,732

21,765

191,617

34,680

266,744

$20,131,608

49,474

28,105

40,115

186,746

687,438

1,461,695

1.270.659

112,292

8.592.660

3,042,623

40,752

93,602

784,766

166.971

863,709

25,708

893.972

8 5 .6 % $1,025,424 $130,894 $29 $585,307 $9,576 1 .6 %

58.0 9,231

92.1 2,104

100.0 302

91.9 39,613 29 150,000

85.8 11,616

100.0 11,423 100,000

64.9 467,710

100.0 3,118 20,000

21,107

1,249 6.2

58.5 52,538

100.0 367

100.0 15,565 50,000

100.0 121

100.0 979

100.0 113 24,200

100,000

8,327 34.4

79.6 53,680

74.6 24,679

66.8 14,388

100.0 96,377

96.8 ............9,442

40.0 175,795 50,000

56.4 93,365

100.0 655

81.4 ......... 43,645 70,000

100.0 1,874

90.6 27,618

9 4.2%

100.0

$1,240,503 $1,205,089

7,303

$1 $4,556,462

20,000

20,000

$3,387,500 $189,776

14,123

7 8.5 %

70.6

57.5 ......... 20,801 1

100.0 1,776 12,500

40,000

100,000

199,000

5,691 45.5

81.6 " ’ ‘ 42,042

86.2 109,688

88.7 185,725

93.4 89,899

100.0 3,010

784,611

369,998

2,004

8,155

35,000

2,487,500

900,000

35,000 100.0

100.0

100.0

100.0 2,487,500

100.0 900,000

100.0

100.0 30,000

125,000

30,000 100.0

96.4 29,278

99.96 72 30,000

86.6 133,125

95.4 1,247 12,500

68.1 419,177 150,000

$2,001,400

35.000

35.000

15.000

100,000

55.000

100,000

125.000

25.000

75.000

10.000

100.000 

10,000

100,000

50.000

56.400

100,000

25.000

600,000

50.000

25.000

100,000

45.000

40.000

25.000

100,000

$2,426,65w

15.000

25.000

12.500

51,250

50.000

150.000

150.000

75.000

800.000

285,500

36.400

45.000

20.000

25.000

200,000

12.500

50.000

$15,594

7,292

7,252

$10,260

2,577

2,614

1

1,943

1,050 3,125

$5,000 $1,085,500 $177,870

5,000

108,750

800,000

285,500

6,117

3,440

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— ASSUMPTION CASES 117

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 34. R e c o v e r y b y t h e F e d e r a l D e p o s it In su r a n c e C o r p o r a tio n , R e c o n s tr u c tio n F in a n c e C o r p o r a tio n ,

a n d O w n e r s o f O t h e r C a p ita l, D e p o s it A ssu m p tio n C a se s, 1935-1958—Continued

DATA AS OF TERMINATION OF LIQUIDATION1 00

Year

and

number

7 1 ..

72. .

7 3 ..

7 4 ..

75. .

76. .

77. .

1 9 3 9 ...

78. .

79. .

80. .

81. .

82. .

83. .

8 4 ..

8 5 ..

86. .

8 7 ..

88. . 

89. .

907.

9 1 ..

92’ .

9 3 ..

9 4 ..

9 5 ..

9 6 ..

9 7 ..

9 8 ..

997.

1 0 0 ..

101..

102. .

1 0 3 ..

1 0 4 ..

1057.

Federal Deposit Insurance Corporation

Net principal disbursement

Total

203,668

16,944

18,793

195,873

1,297,856

158,869

107,767

$41,495,439

125,067

63,535

642,236

117,347

516,521

383,190

602,575

496,538

151,289

97,131

701,848

57,126

2,002,579

106,831

14,020,393

990,368

741,045

6.630.940

435,230

348,958

2.584.941

3,113,344

2,451,258

562,724

14,954

748,790

20,286

2,768,305

Recovery by FDIC8

Amount Percent

203,668 100.0

16,944 100.0

18,793 100.0

195,873 100.0

1,088,407 83.9

158,869 100.0

107,767 100.0

$40,137,747 9 6 .7 %

97,325 77.8

63,535 100.0

642,236 100.0

69,539 59.3

516,521 100.0

383,190 100.0

602,575 100.0

402,415 81.0

151,289 100.0

80,328 82.7

701,848 100.0

57,126 100.0

1,838,730 91.8

103,611 97.0

14,020,393 100.0

990,368 100.0

593,862 80.1

6,630,940 100.0

435,230 100.0

348,958 100.0

2,584,941 100.0

2,647,632 85.0

2,451,258 100.0

562,724 100.0

14,954 100.0

748,783 99.99

15,041 74.1

2,382,395 86.1

Loss to

FDIC

209,449

$1,357,692

27,742

47,808

94,123

16,803

163,849

3,220

147,183

465,712

7

5,245

386,000

Accrued

interest

or

allowable

return

collected

12,267

650

557

3,932

7,406

3,420

$4,638,899

1,207

41,567

40,509

34,568

79,212

2,348

76,578

4,163

2,217,285

101,181

1,353,542

5,687

21,887

393,393

226,380

38,160

1,232

Absorbed

insurance

expense

$1

Reconstruction Finance Corporation

Investment

(redemption

value)

40.000

6,000

3,962

65.000

250,000

30.000

$13,602,950

30.000

25.000

50.000

50,000

200,000

75.000

50.000

550,000

10,000,000

199,750

100,000

60,000

298,200

700.000

600.000

425,000

175,000

15,000

Recovery4 6

Amount

By

exchange

for new

stock

$12,222,950

10,000,000

199,750

298,200

700.000

600.000

425,000

From

liquidation4

6,000

3,962

65,000

30,000

$364,802

25,000

4,284

38,030

200,000

' *50,000

47,488

Percent

100.0

100.0

100.0

100.0

92.5%

100.0

8.6

76.1

100.0*

100.6*

100.0

100.0

79.1

100.0

100.0

100.0

100.0

Stockholders*

Value of

stock

60,000

15.000

16.000

85.000

200,000

17,500

30.000

$7,162,550

30.000

25.000

300.000

50.000

100.000

1,000,000

150.000

100.000

50.000

100,000

20.000

106,000

25.000

1.140.000

200,250

50.000

1,000,000

50.000

40.000

300,300

500.000

200.000

290.000

26.000

100.000

10,000

1.200.000

ments

paid

by

stockholders6

Recovery*

By

exchange

for new

stock

$3,680,550

1,140,000

200,250

50,000

1,000,000

300,300

500.000

200.000

290,000

Other

(estimated)®

2,345

8,630i®

35,000

9,940

3,648io

$300,828

119,668

60,000

98,633

15,946

6,581

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1 9 4 0 ... 

1 0 6 ..

107. .

108. .

1 0 9 ..

1 1 0 ..

1 1 1 ..

112..

1 1 3 ..

1147.

115. .

116. .

117. .

118. .

1 1 9 ..

120. .

121.. 

122. .

123. .

1 2 4 ..

1 2 5 ..

1 2 6 ..

1277.

1 2 8 ..

1 2 9 ..

1 9 4 1 ...

1 3 0 ..

1 3 1 ..

1 3 2 ..

133. .

1 3 4 ..

1357.

1 3 6 ..

1 9 4 2 ...

1 3 7 ..

1 3 8 ..

1 3 9 ..

1 4 0 ..

1 4 1 ..

1 4 2 ..

1 4 3 ..

1 4 4 ..

1 4 5 ..

$68,645,945

19,741,002

581,930

80,456

350,527

185,822

493,511

926,036

406,991

23,103,980

8,115

193,728

398,739

445,211

814,735

55,840

1,089,576

94,770

242,700

1,193,768

711,053

58,776

16,327,247

292,971

848.461

$11,533,711

1,946,490

2,499,757

409,951

593,121

405.461

3,203,553

2,475,378

$9,068,410

677,391

190,789

667,422

344,039

421,156

1,125,229

626,570

532,774

712,435

$65,375,437

19,741,002

545,203

80,456

350,527

181,962

426,747

472,319

406,991

21,773,980

6,360

193,728

398,739

445,211

728,854

55,840

1,089,576

94,770

242,700

990,013

711,053

58,776

15,347,247

292,971

740,412

$11,145,954

1,946,490

2,350,785

301,166

593,121

405,461

3,073,553

2,475,378

$8,671,974

677,391

190,589

667,422

344,039

421,156

1,007,907

626,570

532,774

712,435

9 5 .2 %

100.0

93.7

100.0

100.0

97.9

86.5

51.0

100.0

94.2

78.4

100.0 

100.0

100.0

89.5

100.0

100.0

100.0 

100.0

82.9

100.0

100.0

94.0

100.0

87.3

9 6 .6 %

100.0

94.0

73.5

100.0

100.0

95.9

100.0

9 5 .6 %

100.0

99.9

100.0

100.0 

100.0

89.6

100.0

100.0

100.0

$3,270,508

.........36,727

3,860

66,764

453,717

1,330,000

1,755

85,881

203,755

980,000

108,049

$387,757

’ 148,972

108,785

130,000

$396,436

200

117,322

$1,631,793

1,282,743

5,682

36,181

17,178

3,391

20,023

26,164

4,736

133,139

9,080

13,553

76,728

2,200

$343,344

209,426

20,056

7,417

106,445

$205,267

21,718

41,242

19,823

12,931

’ 5,177'

24,846

22,472

$126

106

20

$4139

’ 404

$6

$17,761

4,000

100

20

125

100

49

98

89

5,774

10

170

175

47

97

24

375

10

75

200

200

,538

,000

,000

,000

,000

,000

,750

,000

,500

,233

,000

,000

,000

,200

,980

,875

,000

,000

,000

,000

,000

$12,548,608

5,940,000

80,000

$439,000

190.000

200.000

49,000

$818,400

100,000

35.000

99.000

125,000

97.000

72.000

94.000

89,500

5,774,233

170.000

175.000

24,875

375,000

5,940,000

$136,396 71.4

56,500

2,155

19,283

58,458

$90,342

81,245

9,097

$576,431

100,000

99,000

112,548

72.000

94.000

45.2

100.0

100.0

100.0

100.0

100.0

100.0

21.6

25.7

29.2

100.0

20.6%

42.8

18.6

7 0 .4 %

100.0

100.0

90.0

100.0

100.0

$9,516

3,995

45

30

112

115

125

100

85

2,672

15

105

375:

77

100

50

87!

41

30

100

100

25

1,000

30

100

,910

,973

,000

,000

,500

,000

,000

,000

,000

,087

,000

,000

,000

,800

,000

,000

,000

,550

,000

,000

,000

,000

,000

,000

,000

$1,130,000

360.000

145.000

50.000

50.000

25.000

250.000

250.000

$1,843,200

200.000

35.000

200,000

100,000

125.000

154,800

150.000

125.000

125.000

$868 $4,374,087 $23,107

868

85,000

2,672,087

105.000

375.000

50.000

87.000

23,107

1,000,000

$440,064

1,939

438,125

$254,613

30,374

55,074

166,250

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 119

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Year

and

case

number

1 4 6 ..

1 4 7 ..

1 4 8 ..

1 4 9 ..

1 5 0 ..

1 9 4 3 ...

1 5 1 ..

1 9 4 4 ...

1 5 2 ..

1 9 4 5 ...

1 5 3 ..

1 9 4 6 ...

1 5 4 ..

1 9 4 7 ...

155. .

156. .

1 5 7 ..

1 5 8 ..

159?.

1 9 4 8 ...

1 6 0 ..

161. .

1 6 2 ..

1 9 4 9 ...

1 6 3 ..

1 6 4 ..

1 6 5 ..

166’ .

DATA AS OF TERMINATION OF LIQUIDATION1

Table 34. R e c o v e r y b y t h e F e d e r a l D e p o s it In su ra n c e C o r p o r a tio n , R e c o n s tr u c tio n F in a n c e C o r p o r a tio n ,

a n d O w n e r s o f O t h e r C a p ita l, D e p o s it A ssu m p tio n C a se s, 1935-1958—Continued

Federal Deposit Insurance Corporation

N et principal disbursement

Total

Recovery by F D IC 3

Amount Percent

666,053

709,180

713,341

512,452

890,665

100.0

74.7

100.0

100.0

95.8

$1,669,818

1,669,818

100.0%

100.0

$1,094,790

1,094,790

100.0%

100.0

$1,767,981

1,767,981

100.0%

100.0

$220,673

220,673

100.0%

100.0

$1,447,490

93,556

400,348

79,255

137,533

736,798

9 4.5%

87.1

100.0

100.0

100.0

91.3

$2,246,852

1,496,772

510,079

240,001

7 7 .8 %

100.0

44.3

100.0

$1,932,140

1,201,120

271,394

210,002

249,624

84.0 %

93.8

69.6

100.0

59.4

Loss to

FD IC

Accrued

interest

or

allowable

return

collected

Absorbed

insurance

expense

Reconstruction Finance Corporation

Investment

(redemption

value)

Recovery4 6

Amount

By

exchange

for new

stock

From

liquidation4

Percent

Stockholders2

Value of

stock

Assessments

paid

by

stockholders5

Recovery*

By

exchange

for new

stock

Other

(estimated)6

666,053

949,043

713,341

512,452

929,716

$1,669,818

1,669,818

$1,094,790

1,094,790

$1,767,981

1,767,981

$220,673

220,673

$1,531,333

107,399

400,348

79,255

137,533

806,798

$2,887,812

1,496,772

1,151,039

240.001

$2,301,110

1,281,180

389,688

210.002

420,240

239,863

33,041 70,500 70,500 100.0

39,051

9,913

14,104

92,800

33,100 28,383 85.7

$83,843

13,843

$31,193

31,193

$14,035

14,035

$25,518

25,518

$1,299

1,299

$11,597

$3 $384,000

384,000

$195,799

195,799

51.0%

51.0

$3,712 $9,400 $9,400 100.0%

70,000

$640,960

* 640,960’

$368,970

80,060

118,294

’ 170,616

10,173

415

1,009

$50,761

44,167

2

57

3,653

$215

9,400 9,400 100.0

6,594

$2,049

215

$(21) $15,000

2,049

(22)11

15,000

125.000

50.000

200.000

53,400

200,000

$300,000

300.000

$200,000

200.000

$363,000

363.000

$10,000

10.000

$197,500

50.000

50.000

50.000

12.500

35.000

$375,000

320.000

25.000

30.000

$142,500

75.000

25.000

30.000

12.500

2,915

$113,750

113,750

$144,225

144,225

$27,357

27,357

$119,389

60,298

30,312

28,779

$217,936

210,530

7,406

$45,797

45,797

120 FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1 9 5 0 . . . $3,939,405 $2,555,405 6 4 .9 % $1,384,000 $29,993 $7,612 $9,650 $114,150

25.000

14,150

25.000

50.000

$85,000

10.000

75.000

$62,000

25.000

12.000

25,000

$262,500

62,500

200,000

$590,000

$23,923 1677. . 966,360 636,360 65.9 330,000

1687.. 929,753 929,753 100.0 25,206 7,612 9,650

1 6 9 ... 248,788 248,788 100.0 4,787 23,923 1707. . 1,794,504 740,504 41.3 1,054,000

1 9 5 1 .... $1,882,680 $1,880,180 9 9 .9 % $2,500 $1,200 $9,187 $10,467

10,467 1 7 1 ... 63,129 63,129 100.0 1,200 1

1727. . 1,819,551 1,817,051 99.9 2,500 9,186

1 9 5 2 .... $1,329,163 $539,413 4 0 .6 % $789,750

1737.. 837,694 247,694 29.6 590,000

1747. . 365,210 275,210 75.4 90,000

1 7 5 ... 126,259 16,509 13.1 109,750

1953... $5,016,933 $5,016,933 100.0% $39,530 $57,989 $100,000 $20,930

20,930

20.9%

20.9 176... 180,063 180,063 100.0 805 5,126 100,000

1777. . 4,836,870 4,836,870 100.0 38,725 52,863

1954-5812

5 active

cases.. $4,028,424 $3,772,424 9 3 .6 % $256,000 $95,554 $350,000

1 F ° ri aj tivu cases data are estimates» as of December 31, 1958, of final results at termination of liquidation.

2 Includes holders of debentures, capital notes, and certificates of beneficial interest. Excludes the Reconstruction Finance Corporation. Value shown is par value of common stock

and redemption value of preferred stock, debentures, notes, and certificates. Other capital accounts not included.

8 Includes estimated future recoveries in active cases.

4 On principal only; does not include payments of accrued interest or dividends.

6 Includes voluntary contributions by stockholders in lieu of enforcement of double liability.

6 Cash plus appraised value of unliquidated assets turned over.

7 Active case; liquidation not terminated as of December 31, 1958. See note 1.

I 5 ,epJesents *oss on assets purchased. In thi3 case a loan was also made to the bank, on which there was full recovery plus interest.

Profit on assets purchased. In this case a loan was also made to the bank, on which there was full recovery plus interest.

10 Includes an undeterminable amount of interest paid to the Reconstruction Finance Corporation.

II Net after application of subsequently discovered income.

12 Includes cases 178-179 in 1954, 180 in 1955, 181 in 1956, and 182 in 1958; there was no deposit assumption case in 1957. Combined totals, rather than individual case data,

are shown for deposit assumption cases occurring during the five years 1954-58, all of which cases are active. See also note 1.

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— ASSUMPTION CASES 121

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Federal Reserve Bank of St. Louis
T a b le 35. T y p e s a n d D is p o s itio n o f C o lle c t io n s o n A s s e ts , D e p o s it A ssu m p tio n C a se s, 1935-1958

D a t a a s o f D e c e m b e r 31, 1958

Year and

case number

Collections on assets acquired by F D IC 1

From

liquidation

of assets

Income

from

while

held

Assessments

on stockholders2

Total

FD IC

collections1

Disposition of FD IC collections1

Retained by FD IC

Recovery of—

Liquidation

Advances

for protection ofNet

principal8

Interest

and

allowable

return

To stockholders4

transferred

to

assuming

bank

FD IC

collections

plus

transferred1

T o ta l, all cases.

Cases, 1935-53

Cases, 1954-58

193 5 

I 5..................

193 6 

2 ...................

3 

4 

5 

6

7 

8 

9 ...................

1 0 ...................

1 1 ...................

1 2 ...................

1 3 

1 4 

1 5 

1 6 

1 7 

1 8 

1 9 

2 0 

2 1 ...................

2 2 ...................

2 3 

2 4 

2 5 

2 6

2 7 

2 8 

$202,383,023

198,955,788

3,427,235

$1,979,271

1,979,271

$5,760,323

46,101

1,404,364

2,498,752

563,230

19,860

26,232

32,418

14,365

13,668

46,664

33,686

117,462

22,965

11,617

34,369

40,022

128,974

26,653

137,023

163,577

230,697

36,238

27,497

10,988

19,450

29,026

24,425

$36,657,953

36,415,935

242,018

$175,029

175,029

$822

2

221

359

64

2

2

,721

,842

,456

,689

,384

621

,052

,510

436

981

,561

,133

863

,163

948

,411

,277

,824

,981

,539

,195

,155

,868

,494

,514

,739

,323

,762

$217,810

217,810

$196,348

37.500

75,000

37.500

9,250

5,780

8,337

3,546

1,344

11,383

2,879

3,829

$239,258,786

235,589,533

3,669,253

$2,154,300

2,154,300

$6,779,392

48,943

1,663,320

2,933,441

665,114

20,481

28,284

34,928

14,801

14,649

53,225

35,819

118,325

24,128

12,565

35,780

44,299

136,798

41,884

170,562

206,552

274,189

49,652

34,335

12,502

33,572

34,228

37,016

$14,328,319

14,038,327

289,992

$189,236

189,236

$505,340

6,210

101,150

151,734

54,532

429

4,660

3,972

843

609

8,289

11,705

6,245

1,902

394

2,355

1,747

19,200

1,652

27,697

33,716

28,771

8,014

7,053

855

7,986

8,544

5,076

$32,757,368

32,423,861

333,507

$82,887

82,887

$428,541

505

89,490

242,442

15,145

99

460

83

3,792

564

3,255

67

690

413

747

2,152

1,225

15,935

19,765

16,415

5,164

3,352

2,553

720

3,508

$182,153,833

179,108,079

3,045,754

$1,882,177

1,882,177

$5,725,927

42,228

1,472,680

2,443,424

595,437

19,533

23,097

30,496

13,958

13,498

41,144

23,550

107,962

20,777

10,830

32,230

38,648

115,446

28,651

126,930

153,071

229,003

36,474

23,930

11,5087

23,033

24,964

23,4257

$8,469,265

8,469,265

$1,550,001

1,550,001

$106,804

95,8416

519

428

433

863

1,382

640

782

2,933

1,905

139

* 939

$12,780

26

11

' 224

5,451

4,068

$274,105,616

260,673,023

13,432,593

$1,373,671

1,373,671

$9,637,994

366,379

2,135,116

4,043,811

903,215

54,959

48,150

94,256

107,205

34,407

19,073

289,049

127,992

79,519

114,614

124,259

117,613

126,849

46,509

3,754

122,095

497,715

27,300

13,244

20,303

25,187

41,980

53,441

$513,364,402

496,262,556

17,101,846

$3,527,971

3,527,971

$16,417,386

415,322

3,798,436

6,977,252

1,568,329

75,440

76,434

129,184

122,006

49,056

72,298

324,868

246,317

103.647

127,179

160,039

161,912

263.647

88,393

174,316

328.647

771,904

76,952

47,579

32,805

58,759

76,208

90,457

122 FEDERAL DEPOSIT INSURANCE C O R P O R A T IO N

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1937.

29.

30.

31.

32.

33.

84.

35.

36.

37.

38.

39.

4 0.

41.

42.

43.

44.

45.

466

47.

48.

49.

50.

51.

52.

53.

1938.

54.

55.

56.

57.

58.

59.

60.

61.

626

635

64.

65.

66.

67.

68.

69.

70.

$6,401,

7,

i9;

i i

478,

73,

291

900;

31,

84,

1 4;

276

35;

155

41

226

79;

36

2,554;

279

148

127

22

196

45

262

$21,788

48

82

47

188

710

1,590

1,239

130

9,338

3,233

45!

98!

786,

179,

881,

31,

1,055,

659

,339

,722

,873

,496

,174

,655

,977

,641

,321

,387

,379

,100

,654

,007

,101

,295

,979

,662

,540

115

,820

,301

,574

718

,829

,613

,864

,723

617

,553

037

,880

,672

,872

,916

,370

,958

,028

,031

,056

,787

,143

,288

$697,318

1,324

3,998

827

46,423

8,251

19,391

158,126

4,348

9,244

894

22,277

3,117

4,363

1,129

50,922

15.352

1,464

201,015

26,316

23,326

440

1,637

41,210

2,468

49,456

$4,477,269

15,082

3,195

2,926

22,828

79,736

166,167

156,083

7,667

2,424,766

587,128

2,471

24.352

39,271

5,881

98,533

3,103

88,170

$15,594

7,292

7,252

1,050

$5,000

5,000

$7,114,571

15,955

30,972

12,700

524,919

81,425

311,046

1,059,103

35,989

93,565

15,281

298,656

38,217

160,017

42,136

277,023

94,647

38,443

2,755,677

305,856

171,441

128,260

23,938

237,784

49,236

312,285

$26,270,882

63,946

90,918

50,543

211,381

789,773

1,757,047

1,395,755

138,539

11,763,682

3,820,498

48,429

122,380

825,302

184,937

980,320

34,246

1,143,458

$472,049

2.563

3,683

2.367

82,049

8,374

18,966

84.378

3,393

14,624

399

28,585

2,975

15,629

7,074

24,535

11,151

8,197

95,507

12,893

29,838

7,404

1,121

23,956

8,085

24,303

$1,623,441

3,014

8,446

6.564

16,767

49,917

87,672

77,639

5.368

772,979

198,010

4,135

692

25,605

13.379

47,005

5,687

110,577

$433,004

623

2,739

1,023

45,386

2,679

13,006

110,830

5,142

4,911

73

9,366

1,321

1,050

17,407

42,628

11,092

1,270

83,138

7,704

24,249

125

172

22,210

3,622

21,238

$3,278,464

1,733

54,367

2,035

7,868

52,418

207,681

47,457

16,911

1,613,432

209,867

1,254

14,931

4,587

69,606

2,851

138,909

$6,073,892

12,769

24,550

8,931

447,484

70,372

267,651

863,895

23,088

74,030

14,328

245,140

33,800

142,359

15,450

209,860

72,404

28,976

2,480,655

285,259

117,354

120,731

21,765

191,618

34,679

266,744

$20,131,

49,

28,

40,

186;

687,

1,461,

1,270,

112,

8,592,

3,042,

40,

93,

784,

166,

863,

25,

893,

,609

,473

,105

,115

,746

,438

,694

,659

,292

,660

,623

,753

,602

,766

,971

,709

,708

,972

$130,894 $4,732

302 77

11,423

3,118 1,248

367

15,565

121

979

113

114

2,092

96,377

655 225

1,874 976

$1,205,089

7,303

$32,279

2,423

1,776 53

3,010

784,611

369,998

2,004

8,155

958

283

19,931

$11,525,338

132,674

56,562

20,047

357,409

176,516

521,891

730,949

103,161

93,768

18,626

747,867

139,018

385,646

145,257

547,422

552,762

34,087

1,196,154

230,174

450,764

3,450,427

31,554

266,685

127,507

1,008,411

$28,448,758

103,582

293,190

82,839

72,113

467,031

1,322,500

1,453,816

796,339

14,280,407

5,245,274

14,365

202,924

556.533

146,042

413.533

12,557

769,911

$18,639,909

148,629

87,534

82,747

882,328

257,941

832,937

1,790,052

139,150

187,333

33,907

1,046,523

177,235

545,663

187,393

824,445

647,409

72,530

3,951,831

536,030

622,205

3,578,687

55,492

504,469

176,743

1,320,696

$54,719,640

167,528

384,108

133,382

283,494

1,256,804

3,079,547

2,849,571

934,878

26,044,089

9,065,772

62,794

325,304

1,381,835

330,979

1,393,853

46,803

1,913,369

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 123

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 35. T y p e s a n d D is p o s itio n o f C o lle c t io n s on A s s e ts , D e p o s it A ssu m p tio n C a se s, 1935-1958—Continued

D a t a a s o f D e c e m b e r 31, 1958

Year and

case number

Collections on i i acquired by F D IC 1

From

liquidation

of assets

Income

from

while

held

on stockholders2

Total

FD IC

collections1

Disposition of F D IC collections1

Retained by FD IC

Recovery of—

Liquidation

expenses

Net

principal3

Interest

and

allowable

return

To stockholders4

transferred

to

assuming

bank

FD IC

collections

plus

transferred1

71.

72.

73.

74.

75.

76.

77.

1 9 3 9 ..

78.

79.

80.

81.

82.

83.

84.

85.

86.

87.

88.

89.

90s

91.

925

93.

94.

95.

96.

97.

98.

995

1 0 0 .

1 0 1 .

102.

103.

104.

1055

210,072

19,609

19,172

210,248

1,373,912

162,106

104,699

$47,878,416

101,369

70,763

699,633

73,806

558,985

397,983

682,110

428,045

158,860

85,190

766,110

58,623

1,830,876

110,214

18,418,245

1,368,194

668,677

8,259,943

431,875

348,083

3,147,673

2,810,365

2,509,126

564,431

19,437

798,321

17,492

2,493,987

36,928

2,325

2,440

11,905

676,992

11,579

7,741

$15,004,737

17,092

2,398

61,341

3,358

72,674

87,713

150,037

75,785

7,385

8,486

91,536

10,044

333,829

10,602

7,439,002

339,648

192,934

2,365,295

63,992

46,221

1,151,496

961,373

464,352

152,193

2,195

136,763

1,899

755,094

247,000

21,934

21,612

222,153

2,050,904

173,685

112,440

rm -

$62,883,153

118,461

73,161

760,974

77,164

631,659

485,696

832,147

503,830

166,245

93,676

857,646

68,667

2,164,705

120,816

25,857,247

1,707,842

861,611

10,625,238

495,867

394,304

4,299,169

3,771,738

2,973,478

716,624

21,632

935,084

19,391

3,249,081

18,269

1,712

520

12,923

154,496

1,168

897

$3,747,635

13,913

4,439

42,232

5,168

25,400

29,301

61,715

47,254

5,386

4,767

31,172

605

107,000

10,428

1,616,166

74,244

65,240

637,373

22,193

12,762

221,096

275,197

101,463

25,340

5,309

96,099

1,429

204,944

12,796

2,464

190

8,941

808,001

165

$13,855,219

7,222

961

33,722

2,457

31,705

28,968

88,646

54,161

75

8,581

41,250

“ ’ 218,975

6,777

8,003,404

299,539

202,509

1,969,813

32,757

8,322

919,335

848,909

194,377

89,358

136

90,202

2,921

670,137

203,668

16,944

18,794

195,873

1,088,407

158,869

107,768

$40,129,354

97,326

63,535

642,236

69,539

516,521

383,191

602,574

402,415

151,289

80,328

701,848

57,126

1,838,730

103,611

14,020,392

990,369

593,862

6,630,939

435,230

348,958

2,584,942

2,647,632

2,451,258

562,724

14,955

748,783

15,041

2,374,000

12,267

650

557

3,932

..........7,406

3,420

$4,638,899

164

1,551

484

6,242

190

$512,046

1,207

41,567

3,019

1,217

40,509

34,568

79,212

17,524

9,668

2,348 7,147

76,578

4,163

6,798

6,773

2,217,285

101,181

1,353,542

5,687

21,887

393,393

242,509

' 33,571

2,375

180,403

226,380

38,160

1,232

1,042

287,958

12,519

33,104

816,788

937,344

86,897

41,192

$84,728,774

124,255

186,288

157,237

179,471

304,022

1,206,580

2,604,728

210,416

1,781,476

177,266

485,881

126,073

2,085,285

34,181

35,609,190

1,712,151

745,589

17,940,786

301,773

811,906

3,192,422

2,503,560

3,386,041

2,556,428

22,657

113,667

74,284

6,095,161

534,958

34,453

54,716

1,038,941

2,988,248

260,582

153,632

$147,611,927

at 242,716

259,449

918,211

256,635

935,681

1,692,276

3,436,875

714,246

1,947,721

270,942

1,343,527

194,740

4,249,990

154,997

61,466,437

3,419,993

1,607,200

28,566,024

797,640

1,206,210

7,491,591

6,275,298

6,359,519

3,273,052

44,289

1,048,751

93,675

9,344,242

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1 9 4 0 ..

106.

107.

108.

109.

110. 

111. 

112. 

113.

114*

115.

116.

117.

118.

119.

120. 

121.

122.

123.

124.

125.

126.

1276

128.

129.

1 9 4 1 ..

130.

131.

132.

133.

134.

1355

136.

1 9 4 2 ..

137.

138.

139.

140.

141.

142.

143.

144.

145.

$71,523,756 $12,804,240

24,749,654 3,606,893 ,

578,272 134,374

93,317 26,188 .

443,678 100,346 ,

188,384 15,732 .

431,663 86,394 ,

628,305 355,926 ,

405,302 60,966

21,963,913 5,177,758 ,

9,710 1,367

245,273 21,922

451,593 85,433

465,115 43,821

737,469 102,189

74,275 10,547

1,201,998 289,628

105,377 15,742

262,692 25,535

1,060,671 188,691

831,009 109,023

59,789 3,040

15,366,734 2,261,203

329,679 42,746

839,884 38,776

$11,960,969 $1,010,950

2,250,514 244,734

2,659,631 140,959

353,445 8,203

647,091 25,213

419,373 10,813

3,090,654 358,184

2,540,261 222,844

$9,566,479 $715,651

697,133 43,760

210,139 10,423

834,028 91,098

446,199 37,915

470,620 22,726

1,081,604 102,801

664,691 63,545

631,578 49,752

746,185 47,580

$868

868

$84,328,864 $4,483,435

28,356,547 1,147,704

713,514 49,813

119,505 8,333

544,024 29,188

204,116 12,306

518,057 29,531

984,231 73,599

466,268 21,016

27,141,671 1,686,911

11,077 4,297

267,195 9,130

537,026 18,356

508,936 23,445

839,658 56,275

84,822 7,557

1,491,626 76,676

121,119 11,892

288,227 16,024

1,249,362 98,367

940,032 48,771

62,829 2,875

17,627,937 933,759

372,425 36,754

878,660 80,856

$12,971,919 $627,409

2,495,248 138,802

2,800,590 117,392

361,648 39,248

672,304 35,755

430,186 14,501

3,448,838 200,362

2,763,105 81,349

$10,282,130 $647,188

740,893 18,250

220,562 24,662

925,126 44,796

484,114 43,439

493,346 20,444

1,184,405 124,161

728,236 53,464

681,330 28,194

793,765 25,374

$12,750,291 $65,231,792

6,160,641 19,741,002

118,499 545,202

25,035 80,455

120,577 350,527

9,848 181,962

61,779 426,747

438,313 472,319

21,082 406,992

3,688,918 21,765,8428

420 6,360

10,624 193,728

59,333 398,739

14,116 445,211

54,529 728,854

9,268 55,840

158,927 1,089,575

3,221 94,771

8,827 242,700

160,982 990,013

45,022 711,053

58,777

‘ ' i , 482,438 15,211,740

40,500 292,971

57,392 740,412

$849,302 $11,101,694

159,996 1,946,490

332,413 2,350,785

21,234 301,166

14,275 593,121

2,268 405,461

219,183 3,029,293

99,933 2,475,378

$428,622 $8,671,975

23,499 677,392

5,311 190,589

81,494 667,422

19,926 344,039

9,989 421,156

52,337 1,007,907

43,025 626,570

9,462 532,774

16,286 712,435

$1,631,793

1,282,743

$231,553

24,457

5,682

36,181 7,551

17,178

3,391

20,023

26,164

50,322

40,575

4,736

133,139

9,080

13,553

7,421

33,309

2,155

7,123

76,728

995

58,458

182

2,200

$343,344

209,426

$50,170

40,534

20,056

7,417

9,097

539

106,445

$205,267

21,718

............41,242

19,823

12,931

$329,078

34

..........90,172

56,887

28,826

5,177

24,846

22,472

86,054

17,198

$69,318,604 $153,647,468

9,656,134 38,012,681

906,394 1,619,908

361,925 481,430

1,257,207 1,801,231

166,003 370,119

181,470 699,527

616,616 1,600,847

398,688 864,956

25,260,863 52,402,534

118,086 129,163

1,722,110 1,989,305

2,947,018 3,484,044

156,050 664,986

449,107 1,288,765

553,737 638,559

3,578,387 5,070,013

176,478 297,597

108,481 396,708

948,503 2,197,865

1,062,464 2,002,496

120,003 182,832

17,636,632 35,264,569

697,220 1,069,645

239,028 1,117,688

$3,543,173 $16,515,092

3,272,798 5,768,046

2,800,590

49,140 410,788

211,380 883,684

6,577 436,763

1,624 3,450,462

1,654 2,764,759

$8,389,325 $18,671,455

77,445 818,338

287,489 508,051

1,984,853 2,909,979

937,457 1,421,571

101,056 594,402

916,206 2,100,611

777,826 1,506,062

825,584 1,506,914

1,124,914 1,918,679

OPERATIONS TO PROTECT DEPOSITORS, 1934-1958— ASSUMPTION CASES 125

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Table 35. T y p e s a n d D is p o s itio n op C o lle c t io n s on A s s e ts , D e p o s it A ssu m p tio n C a se s, 1935-1958—Continued

D a t a a s o f D e c e m b e r 31, 1958

Year and

case number

Collections on assets acquired by FDIC1

From

liquidation

of assets

Income

from

assets

while

held

on stockholders2

Total

FDIC

collections1

Disposition of FDIC collections1

Retained by FDIC

Recovery of—

Liquidation

expenses

Advances

for protection of

assets

Net

principal*

Interest

and

allowable

return

To stockholders4

transferred

to

assuming

bank

FDIC

collections

plus

transferred1

146.

147.

148.

149.

150.

1943..

151.

1944..

152.

1945..

153.

1946..

154.

1947..

155.

156.

157.

158.

1598

1948..

160.

161.

162.

1949..

163.

164.

165.

166*

788,251

769,373

790,294

544,403

891,981

$1,797,568

1,797,568

$1,131,992

1,131,992

$1,965,089

1,965,089

$258,653

258,653

$1,626,474

111,117

483,234

114,386

167,212

750,525

$2,445,288

1,579,419

588,898

276,971

$2,048,088

1,228,063

282,283

229,453

308,289

54,865

21,214

77,143

18,195

74,634

$53,347

53,347

$30,611

30,611

$30,623

30,623

$1,612

1,612

$117,614

1,019

3,471

143

5,077

107,904

$96,084

68,939

16,023

11,122

$58,680

45,782

4,143

2,808

5,947

843,116

790,587

867,437

562,598

966,615

$1,850,915

1,850,915

$1,162,603

1,162,603

$1,995,712

1,995,712

$260,265

260,265

$1,744,088

112,136

486,705

114,529

172,289

858,429

$2,541,372

1,648,358

604,921

288,093

$2,106,768

1,273,845

286,426

232,261

314,236

50,533

81,211

68.564

20,245

43,851

$49,286

49,286

$24,956

24,956

$89,870

89,870

$10,910

10,910

$204,062

18,580

68,929

6,105

9,526

100,922

$185,492

60,814

91,020

33,658

$124,248

55,488

14,013

13.565

41,182

55,448

196

75,620

3,930

32,099

$22,936

22,936

$12,021

12,021

$6,621

6,621

$26

26

$111,273

558

16

98

110,601

$13,940

9,185

3,822

933

$42,029

17,237

1,019

341

23,432

666,054

709,180

713,340

512,452

890,665

$1,669,818

1,669,818

$1,094,790

1,094,790

$1,767,981

1,767,981

$220,673

220,673

$1,357,598

93,556

400,347

79,256

137,533

646,906

$2,246,853

1,496,772

510,079

240.002

$1,932,138

1,201,120

271,394

210.002 

249,622

33,041

9,913

14,104

$31,193

31,193

$14,035

14,035

$25,518

25,518

$1,299

1,299

$11,597

10,173

415

1,009

$50,761

44,167

6,594

$2,049

38,040

11,867

$77,682

77,682

$16,801

16,801

$105,722

105,722

$27,357

27,357

$59,558

6,698

28,737

24,123

$44,326

37,420

6,906

$6,304

2,049 6,304

441,253

360,593

147,348

209,178

198,123

$4,231,855

4,231,855

$369,259

369,259

$3,941,965

3,941,965

$126,764

126,764

$5,533,037

1,938,819

1,354,948

1,630,810

576,773

31,687

$7,809,457

6,439,275

999,633

370,549

$3,193,711

2,109,135

408,364

587,359

88,853

1,284,369

1,151,180

1,014,785

771,776

1,164,738

$6,082,770

6,082,770

$1,531,862

1,531,862

$5,937,677

5,937,677

$387,029

387,029

$7,277,125

2,050,955

1,841,653

1,745,339

749,062

890,116

$10,350,829

8,087,633

1,604,554

658,642

$5,300,479

3,382,980

694,790

819,620

403,089

FEDERAL DEPOSIT INSURANCE CORPORATION

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195 0 

1675.....

1688.....

169..................

1705.....

195 1 

171..................

1725.....

195 2 

1735.....

174*................

17 5 

195 3 

17 6 

177«................

1954-58*

5 active cases

$2,942,719

670,722

974,198

280,221

1,017,578

$1,839,259

83,774

1,755,485

$686,878

310,661

312,876

63,341

$5,354,294

210,021

5,144,273

$3,427,235

$151,533

38,606

54,218

5,675

53,034

$78,785

2,449

76,336

$19,850

4,372

14,054

1,424

$69,281

3,814

65,467

$242,018

II $3,094,252

709,328

1,028,416

285,896

1,070,612

$462,342

74,248

69,215

22,686

296,193

$47,322

8,470

4,243

417

34,192

$2,545,377

626,610

929,752

248,788

740,227

$1,918,044

86,223

1,831,821

$110,477

10,138

100,339

$7,332

2,292

5,040

$1,789,570

63,128

1,726,442

$706,728

315,033

326,930

64,765

$151,268

50,439

52,625

48,204

$37,530

23,420

14,058

52

$517,930

241,174

260,247

16,509

$5,423,575

213,835

5,209,740

$329,683

10,773

318,910

$16,501

1,265

15,236

$5,016,931

180,062

4,836,869

$3,669,253 $289,992 $333,507 $3,045,754

$29,993

..........‘25,206

4,787

$9,218

9,218

$1,200

1,200

$9,465

9,465

$39,530

805

38,725

$20,930

20,930

$1,815,824

180,037

243,999

1,158,008

233,780

$1,536,490

85,324

1,451,166

$1,860,998

934,444

453,903

472,651

$13,288,026

1,137,453

12,150,573

$13,432,593

$4,910,076

889,365

1,272,415

1,443,904

1,304,392

$3,454,534

171,547

3,282,987

$2,567,726

1,249,477

780,833

537,416

$18,711,601

1,351,288

17,360,313

$17,101,846

1 Excludes unused portions of adjustment accounts; see Table 33.

2 Includes voluntary contributions by stockholders in lieu of enforcement of double liability.

* Differs from Table 34 because of exclusion of estimated additional recoveries in active cases.

* Amounts shown in cases 93, 95, 98, 101, 116, 117, 120, and 121 were paid to successor banks in which stockholders of absorbed banks had received stock; paid to receiver in

case 106.

6 Active case; liquidation not terminated as of December 31, 1958.

6 Interest collected on loan; in this case certain assets were also purchased outright, on which there was a loss; see Table 34.

7 Includes profit on assets purchased outright. In this case a loan was also made to the bank, on which interest was collected.

8 Includes $113,885 of collections arising from case number 113, according to the conditions under which the two banks were merged into a single continuing bank. Collections

from liquidation of assets are correspondingly adjusted in the two cases.

* Includes cases 178-179 in 1954, 180 in 1955, 181 in 1956, and 182 in 1958; there was no deposit assumption case in 1957. Combined totals, rather than individual case data,

are shown for deposit assumption cases occurring during the five years 1954-58, all of which cases are active.

OPERATIONS TO PROTECT D E P O SIT O R S, 1934-1958— ASSUMPTION CASES 127

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PART THREE

LEGISLATION AND REGULATIONS

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Fe d e r a l Le g is l a t io n

AMENDMENT TO THE FEDERAL RESERVE ACT

P u b l i c L a w 85— 5081

85 th C o n g r e s s , H. R. 7999

AN ACT

To provide for the admission of the State of Alaska into the Union.

Be it enacted by the Senate and House of Representatives of the United States of

America in Congress assembled . . .

S e c . 19. The first paragraph of section 2 of the Federal Reserve Act (38 Stat. 251)

is amended by striking out the last sentence thereof and inserting in lieu of such

sentence the following: “When the State of Alaska is hereafter admitted to the Union

the Federal Reserve districts shall be readjusted by the Board of Governors of the

Federal Reserve System in such manner as to include such State. Every national

bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of

the Federal Reserve System by subscribing and paying for stock in the Federal Reserve

bank of its district in accordance with the provisions of this Act and shall thereupon

be an insured bank under the Federal Deposit Insurance Act, and failure to do so

shall subject such bank to the penalty provided by the sixth paragraph of this section.”

Approved July 7, 1958.

* 72 Stat. 350; 12 U.S.C. 222.

Rules and Reg u lations of th e Corpo ratio n

A s s e s s m e n t s

The amendment of the rules and regulations of the Corporation, referred to on

page 13, is as follows:

Section 327.1(d) is amended by redesignating the present subparagraph (3) thereof

as subparagraph (4) and by redesignating subdivisions (v) and (vi) of subparagraph

(2) as subparagraph (3) and amending subparagraph (3) to read as follows:

(3) Any instrument providing for the payment of money, which is paid or credited

to a deposit account and which is received for the purpose of abnormally increasing

deposits or reducing assessments with deductions on any assessment base day, is not

a cash item as defined in this part, as it is not received in the usual or regular course

of business. However, where such an instrument has been credited to a deposit account

and included in reported deposit liabilities and is in the process of collection at the

close of business on a base day, it may be subtracted in its actual amount from reported deposits in computing the assessment base: Providedf That if a bank computes

its assessments under the (aa) method such instruments may not be subtracted unless

131

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.132 FEDERAL DEPOSIT INSURANCE CORPORATION

they are received and reflected on the books of the bank as a part of the business of

the base day, in accordance with the normal procedure of the bank. This applies to

all instruments which are received for such purpose and includes, without being

limited to, drafts drawn and delivered or exchanged between banks, and instruments

drawn by an officer, director, stockholder, or affiliate of the reporting bank, or by any

other person or corporation. If substantially the same amount as the credit given

for any such instrument or instruments is withdrawn from a deposit account of the

depositor in the reporting bank within a short period thereafter, and the transaction

appears abnormal under the circumstances, this will be a factor in determining

whether the deposit was received for such purpose and not in the regular course of

business.

A s s e s s m e n t D e c is io n s

Amendments of Assessment Decisions Nos. 23, 25, 53 and 102 (12 CFR 327.123,

327.125, 327.153 and 327.202) were published in the Federal Register of April 29, 1958

(23 F.R. 2839— 2841). Copies of these amended assessment decisions have been

furnished to each insured bank.

Sta t e b a n k in g Leg islatio n

In 1958 the legislatures of 17 States held regular sessions and 10 of these legislatures

held special sessions. The legislatures of 10 other States held special sessions.

This summary includes the more important State banking legislation enacted in 1958.

SUPERVISORY AUTHORITY

Supervision of banks by Department of Financial Institutions........................................

.............................................................................. Illinois (H.B. 369, 1957, adopted 1958)

Commissioner authorized to cause directors or trustees meeting to be held

...........................................................................................................Massachusetts (Ch. 47)

Minimum age requirement for bank examiners removed.......... Mississippi (S.B. 1742)

Nonbanking corporation prohibited from using in its name words “bank”, “banker”,

“banking” or “trust company” or words of similar import. .Mississippi (S.B 1740)

Reports of condition...............................................................................New York (Ch. 553)

ORGANIZATION AND CHARTER CHANGES

Branch offices and agencies.................................................................... Michigan (Act 250)

Capital requirements..............................................................................New York (Ch. 754)

Organization of trust company................................................................ Virginia (Ch. 139)

Change of location..................................................................................New York (Ch. 553)

Mergers and consolidations of savings banks............................Massachusetts (Ch. 106)

Mergers and consolidations.................................................................. New York (Ch. 100)

Limitation on ownership or control of voting shares in two or more banks located

in different banking districts by any company............................New York (Ch. 774)

GENERAL OPERATING PROVISIONS

Uniform commercial code........................................................................ Kentucky (Ch. 77)

Uniform gifts to minors act................................................................................... Kentucky

(Ch. 83), Louisiana (Act 195), Mississippi (H.B. 301), New Jersey (Ch. 19)

Motor vehicle sales finance act...........................................................Mississippi (H.B. 39)

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STATE BANKING LEGISLATION 133

Furnishing by banks of certain information to public welfare officials concerning

deposits of applicants for or recipients of public assistance. . Massachusetts (Ch. 179)

Penalty for receiving deposits by officer or employee of insolvent bank...................

.......................................................................................................... Massachusetts (Ch. 58)

Small loan interest charged by banks.............................................Mississippi (H.B. 237)

Limitations on donations by savings banks................................ Massachusetts (Ch. 66)

Agreements with depositor or shareholder exculpating the bank or other financial

institution for paying deposits or share account to person unlawfully presenting

evidence of such account declared void..................................Massachusetts (Ch. 213)

Safe deposit business......................New Jersey (Ch. 44), New York (Chs. 54, 238, 879)

Preservation of bank records..................................................................New York (Ch. 24)

Report to directors of security transactions, loans, discounts and advances..........

................................................................................................................New York (Ch. 203)

Book value of real estate acquired by savings bank...................New York (Ch. 222)

Banks authorized to charge interest at rate permitted at location of their offices outside

the continental United States..........................................................New York (Ch. 263)

Computation of profits..........................................................................New York (Ch. 310)

Limitation on deposits of industrial banks with other banks___ New York (Ch. 553)

Amortization of securities for the purpose of bringing them to par at maturity

................................................................................................................New York (Ch. 664)

Replacement of lost or destroyed pass book............................... Rhode Island (Ch. 154)

Identification of branch banks.................................................... South Carolina (Act 958)

DEPOSITS

Deposits and security for public funds........................................................Mississippi

(H.B. 412), New York (Chs. 232, 256, 302), Virginia (Chs. 23, 24, 442)

Payment to surviving spouse of $1,000 out of deposits of decedent or of the community

of survivor or decedent.......................................................................Louisiana (Act 126)

Use of facsimile signatures by persons signing checks for governmental units and

honoring of same by bank authorized..........................................Michigan (Act 20)

Abandoned property law extended to enable State acquisition of property abandoned

by nonresidents............................................................................Massachusetts (Ch. 283)

Joint deposits.............................................................................................New York (Ch. 20)

Adverse claims to deposits......................................................................New York (Ch. 20)

l o a n s

Real estate loans. .Michigan (Act 158), New York (Ch. 235), Rhode Island (Ch. 167)

Conditioning loan upon obtaining insurance from particular insurer prohibited

.......................................................................................................................Arizona (Ch. 78)

Requiring borrower in obtaining insurance coverage on property securing loan to

pay service charge to substitute policy of one company for that of another prohibited.................................................................................................... Louisiana (Act 211)

Limitation on amount of stock of another bank that may be held by a bank as collateral

security................................................................................................... New York (Ch. 98)

Loan limits..............................................................New York (Ch. 374), Virginia (Ch. 74)

Loans to directors, officers and employees........................................New York (Ch. 827)

Instalment loans..................................................................................... New York (Ch. 984)

Loans to business development corporations.........................South Carolina (Act 1013)

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134 FEDERAL DEPOSIT INSURANCE CORPORATION

INVESTMENTS

Real estate..................................................................................................New York (Ch. 62)

Stock of safe deposit company...............................................................New York (Ch. 63)

Investment in obligations issued by the Public Housing Administration, Federal

National Mortgage Association and Central Bank For Cooperatives without

limitation as to amount......................................................................... Georgia (Act 130)

Debentures issued by Federal intermediate credit banks and banks for cooperatives

............................................................................................................ Mississippi (H.B. 412)

Savings banks investments:

General limitations........................ New Jersey (Chs. 152, 153), New York (Ch. 695)

Regional school bonds.........................................................................Connecticut (Act 4)

Stocks of fire and casualty insurance companies...............Massachusetts (Ch. 100)

Insured or guaranteed mortgages-----Massachusetts (Ch. 131), New York (Ch. 795)

Bankers’ acceptances and bills of exchange..................................New York (Ch. 586)

Mortgage loans to slum clearance and redevelopment project.New York (Ch. 564)

Railroad obligations...........................................................................New York (Ch. 837)

Mortgage loans upon leasehold estates..........................................New York (Ch. 908)

Real estate mortgages....................................................................... New York (Ch. 949)

r e s e r v e s

Required reserve of trust companies may consist in part of balances due from certain

trust companies insured by Federal Deposit Insurance Corporation...................

........................................................................................................ Massachusetts (Ch. 135)

Cash balances of savings banks.........................................................New Jersey (Ch. 106)

TRUST ACTIVITIES

Registration in name of nominee of stock or other property held by bank or trust

company in fiduciary capacity..............................................................................................

............................... Michigan (Act 151), Rhode Island (Ch. 101), Virginia (Ch. 283)

Uniform gifts to minors act.................................................................................Kentucky

(Ch. 83), Louisiana (Act 195), Mississippi (H.B. 301), New Jersey (Ch. 19)

Common trust funds.............................................................................New York (Ch. 496)

Securities in which fiduciaries may invest.............................................Virginia (Ch. 281)

Resignation by trust company or bank with trust powers of guardianship of incompetent veterans and other incompetent and minor beneficiaries of the Veterans’

Administration and appointment of successor guardian with probate court approval

after hearing with notice only to Veterans’ Administration or upon its written

waiver of hearing..................................................................................Michigan (Act 103)

Transfer of trust and other fiduciary relationships by operation of law in connection

with the transfer of assets of bank in exchange for assumption of its deposit liabilities....................................................................................................New York (Ch. 743)

CHECKS AND COLLECTIONS

Duty and responsibility of bank collecting agents..........................New York (Ch. 776)

DIRECTORS, TRUSTEES, OFFICERS AND EMPLOYEES

Loans to New York (Ch. 827)

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STATE BANKING LEGISLATION 135

Notaries public who are stockholders, directors, officers or employees of banks or

other corporations authorized to be official witnesses to certain written instruments

to or by such bank or other corporation, to administer oaths to any other stockholder, director, officer or employee of such bank or other corporation and to protest

for nonacceptance or nonpayment negotiable instruments........ Georgia (Act 336)

Registration, examination and supervision of employee welfare funds...................

................................................................................................................New York (Ch. 857)

Notification of election of officers of savings banks...................Massachusetts (Ch. 83)

Insurance of lives of officers and employees..................................... New York (Ch. 239)

Reinstatement of directors by banking board..................................New York (Ch. 237)

Minimum number of directors..............................................New York (Chs. 430, 553)

Limitation on number of directors who may be active officers and employees...........

................................................................................................................New York (Ch. 430)

Director examinations.........................................................................New York (Ch. 553)

Election of directors................................................................................... Virginia (Ch. 200)

HOLIDAYS

Legal holidays..............................................Kentucky (Ch. 73), Louisiana (Acts 210, 270)

Saturday holidays................................. Louisiana (Acts 210, 270), Virginia (Ch. 103)

LIQUIDATION

Compensation for receiver and attorney for bank in liquidation. Mississippi (S.B. 1597)

MISCELLANEOUS

Prohibition on encroachment upon certain powers of banks and trust companies-----

............................................................................................................... New York (Ch. 990)

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PART FOUR

BANKING DEVELOPMENTS

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B a n k in g D e v e l o p m e n t s

During the 25 years since the establishment of the Federal Deposit 

Insurance Corporation there have been far-reaching changes in the 

American banking structure. Some of these changes reflect the continuation of developments already underway prior to deposit insurance, 

while others represent a reversal of earlier trends.

Very few of the changes have occurred at a steady pace. Many of the 

changes in recent years are quite different from those during the early 

years of deposit insurance or those during the World War II period. 

Because of these differences, selected banking data are given and discussed here for four segments of the 25-year period: the period of recovery 

from the great depression of the early 1930’s, from the beginning of 1934 

to the end of 1940; the period of World War II, from the end of 1940 to 

the end of 1946; the early postwar years, including the time of the Korean 

conflict, from the end of 1946 to the end of 1952; and the years from the 

end of 1952 to the end of 1958.

N u m b e r o f B a n k s a n d B r a n c h e s

Number o f banking offices. Changes in the number of banks and 

branches for the 25 years since January 1, 1934, are shown in Table 36 

and Chart F. During this period the number of banking offices increased 

29 percent, from 18,321 to 23,553. This increase is attributable entirely 

to growth in the number of branches, since the number of banks declined 

by about 9 percent over the period.

The number of banks dropped by 2 percent during the seven years 

after January 1, 1934, and by the same percentage between 1940 and 

1946. The decline was less than 1 percent during the next six years, but 

was nearly 4 percent for 1952 to 1958.

The decline in the number of banks during the 25 years since January 

1, 1934, has been at a markedly slower rate than the decline between 

1921, when the number of banks was at an all-time high, and the end 

of 1933. During those 12 years the number of banks dropped by approximately 50 percent, at a rate of about 2.5 percent per year during 

the prosperous years of the 1920’s, and by more than 11 percent per year 

during the depression years, 1930-1933.

Growth in number of branches, which had been underway prior to 

1934, has accelerated during the last 25 years, particularly during recent 

years. As Table 36 indicates, the number of branches rose 38 percent 

during the six years following World War II and 63 percent during the 

six most recent years.

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140 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 36. N u m b e r a n d P e r c e n t a g e C h a n g e i n B a n k i n g O f f ic e s i n t h e U n i t e d

S t a t e s (C o n t i n e n t a l U . S. a n d O t h e r A r e a s ), B y T y p e o f B a n k ,

S e l e c t e d D a t e s , 1934-1958

Total

Banks Branches

Year or period banking

offices Total Commercial1

Mutual

savings

Total Commercial

Mutual

savings

N um ber2

1958........................................ 23,553 14,060 13,540 520 9,493 9,068 425

1952........................................ 20,449 14,616 14,086 530 5,833 5,587 246

1946........................................ 18,967 14,747 14,213 534 4,220 4,063

3,593

157

1940........................................ 18,791

18,321

15,063 14,520 543 3,728 135

1934........................................ 15,363 14,796 567 2,958 2,916 42

Percent of total2

1958........................................ 100.0% 59.7% 57.5% 2 .2 % 40.3% 38.5% 1 .8 %

1952........................................ 100.0 71.5 68.9 2.6 28.5 27.3 1.2

1946........................................ 100.0 77.7 74.9 2.8 22.3 21.4 .9

1940........................................ 100.0 80.2 77.3 2.9 19.8 19.1 .7

1934........................................ 100.0 83.9 80.8 3.1 16.1 15.9 .2

Percentage change by

period

1934-1958*........................... 28.6% -8 .5 % -8 .5 %

00

CO

220.9% 211.0% 911.9%

1952-1958............................ 15.2 -3 .8 -3 .9 -1 .9 62.8 62.3 72.8

1946-1952............................ 7.8 -.9 -.9 - .8 38.2 37.5 56.7

1940-1946............................ .9 -2 .1 -2 .1 -1 .7 13.2 13.1 16.3

1934-19404........................... 2.6 -2 .0 -1 .9 -4 .2 26.0 23.2 221.4

1 Includes trust companies not regularly engaged in deposit banking.

* At end of year, except for 1934 which is as of January 1. Data for number of banks and total

banking offices on dates prior to 1958 have been revised and differ from data published in previous

annual reports.

* Includes 25 years, January 1, 1934— December 31, 1958.

4 Includes seven years, January 1, 1934— December 31, 1940.

Chart F. C h a n g e s i n N u m b e r o f B a n k s a n d B r a n c h e s i n t h e U n i t e d S t a t e s

(C o n t i n e n t a l U . S. a n d O t h e r A r e a s ), 1934-1958

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
NUMBER OP BANKS AND BRANCHES 141

U n t il r e c e n t ly , g r o w t h in t h e t o t a l n u m b e r o f b a n k in g o ff ic e s h a d n o t 

k e p t p a c e w it h p o p u la t io n g r o w t h . O n J a n u a r y 1, 1 9 3 4 , t h e r e w e r e a b o u t 

7 ,0 0 0 p e r s o n s f o r e a c h b a n k in g o ffic e in t h e U n it e d S t a t e s , c o m p a r e d 

w it h a b o u t 3 ,4 0 0 p e r s o n s p e r o ffic e in 1 9 2 1 . T h e n u m b e r o f p e r s o n s p e r 

o ffic e c o n t i n u e d t o in c r e a s e a f t e r 1 9 3 4 , a s p o p u l a t io n g r e w a n d t h e n u m b e r 

o f b a n k in g o ffic e s f o r t h e m o s t p a r t e it h e r d e c lin e d f r o m o n e y e a r t o t h e 

n e x t o r in c r e a s e d a t a s lo w e r r a t e t h a n p o p u la t io n . H o w e v e r , t h e a c ­

c e le r a t e d g r o w t h in t h e n u m b e r o f b r a n c h e s s in c e t h e e n d o f W o r l d 

W a r I I h a s le d t o a m o r e r a p id in c r e a s e in t h e t o t a l n u m b e r o f b a n k in g 

o ffic e s , a n d s in c e 1 9 5 2 t h is g r o w t h h a s b e e n fa s t e r t h a n t h e r a t e o f p o p u ­

la t io n in c r e a s e . C h a r t F illu s t r a t e s t h is d e v e lo p m e n t .

T y p e s o f c h a n g e i n t h e n u m b e r o f b a n k i n g o f f i c e s . D u r i n g t h e 

1 9 2 0 ’ s a n d e a r ly 1 9 3 0 ’ s b a n k s u s p e n s io n s w e r e t h e m o s t i m p o r t a n t f a c t o r 

a c c o u n t i n g f o r a r a p id d e c lin e in t h e n u m b e r o f b a n k s . S in c e J a n u a r y 1, 

1 9 3 4 , b a n k s u s p e n s io n s , in c o n t r a s t w it h t h a t p e r io d , h a v e b e e n r e la t iv e ly 

fe w . C o n s e q u e n t ly t h e d e c lin e o f a b o u t 1 ,3 0 0 b a n k s b e t w e e n J a n u a r y 

1, 1 9 3 4 , a n d t h e e n d o f 1 9 5 8 h a s b e e n d u e t o o t h e r fa c t o r s . T a b l e 3 7 s h o w s 

c h a n g e s in t h e n u m b e r o f b a n k s a n d b r a n c h e s , b y t y p e o f c h a n g e , d u r in g 

t h e 2 5 y e a r s .

T a b le 3 7 . A n a l y s is o f C h a n g e s in t h e N u m b e r o f B a n k in g O f f ic e s in t h e

U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), Se l e c t e d P e r io d s, 1 9 3 4 -1 9 5 8

Banks Branches

Period

All 

banking 

offices— 

net 

increase

Ceased

operations Other

Opened for 

business

Discontinued— 

total8

Other

Net

change

Began

operations1 Absorbed2

Liquidated*

classified

changes,

net

Net

increase

Succeeded

absorbed

banks

Other

new

branches8

classified

changes,

net4

1934-

19587 5,232 -1,303 3,135 3,008 1,428 -2 6,535 1,901 5,844 1,311 + 101

1952-

1958 3,104 -556 559 1,055 60 3,660 932 2,936 224 +16

1946-

1952 1,482 -131 473 502 102 1,613 391 1,335 129 + 16

1940-

1946 176 -316 458 466 308 492 201 781 492 + 2

1934- 

19408 470 -300 1,645 985 958 -2 770 377 792 466 +67

1 Mostly new banks, but includes previously operating financial institutions which became banks of 

deposit. For earlier years also includes banks resuming business which had previously been in conservatorship, operating under restrictions, or in receivership or liquidation.

2 Net decrease as a consequence of absorptions, consolidations, and mergers (excluding cases involving financial aid by the Federal Deposit Insurance Corporation).

* Net decrease, after allowance for banks reopened or succeeded, resulting from banks placed in 

voluntary liquidation or closed because of financial difficulties, including cases of banks the deposits of 

which were assumed by other insured banks with the financial assistance of the Federal Deposit Insurance 

Corporation.

4 For 1934 includes successions to absorbed banks.

6 Includes a small number of branches replacing banks relocated or placed in liquidation or receivership and facilities established in or near military or other Federal government installations.

« Includes facilities discontinued at military or other Federal government installations.

7 Includes 25 years, January 1, 1934—December 31, 1958.

8 Includes seven years, January 1, 1934—December 31, 1940.

Detailed data for 1958: See Table 101, pp. 162-163.

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
142 FEDERAL DEPOSIT INSURANCE CORPORATION

S in c e J a n u a r y 1, 1 9 3 4 , s lig h t ly o v e r 3 ,0 0 0 b a n k s h a v e c e a s e d o p e r a t io n s 

b e c a u s e o f a b s o r p t io n s , c o n s o lid a t io n s , a n d m e r g e r s . A l t h o u g h t h is is 

c o n s i d e r a b l y le ss t h a n t h e n u m b e r c e a s in g o p e r a t io n s f o r t h e s a m e r e a s o n 

d u r in g t h e 13 y e a r s , 1 9 2 1 -1 9 3 3 , i t h a s m o r e t h a n o ff s e t t h e e f f e c t o f o t h e r 

c h a n g e s . M o r e t h a n 3 ,1 0 0 b a n k s b e g a n o p e r a t io n s b e t w e e n J a n u a r y 1, 

1 9 3 4 , a n d t h e e n d o f 1 9 5 8 , w h ile o v e r 1 ,4 0 0 w e r e p la c e d in v o l u n t a r y 

liq u id a t io n o r c lo s e d b e c a u s e o f fin a n c ia l d iffic u lt y .

D u r i n g t h e 2 5 y e a r s e n d in g w it h 1 9 5 8 a p p r o x i m a t e ly 7 ,8 0 0 b r a n c h e s 

w e r e o p e n e d f o r b u s in e s s a n d o n l y 1 ,3 0 0 d is c o n t in u e d , l e a v in g a n e t 

in c r e a s e o f a b o u t 6 ,5 0 0 b r a n c h e s . O f t h e b r a n c h e s o p e n e d f o r b u s in e s s , 

t h r e e -fo u r t h s w e r e n e w ly e s t a b lis h e d b r a n c h e s a n d o n e - f o u r t h r e p r e s e n t e d 

t h e c o n v e r s io n o f a b s o r b e d b a n k s i n t o b r a n c h e s .

C h a n g e s i n b a n k i n g o f f i c e s d u r i n g 1 9 5 8 . T h e n u m b e r o f b a n k in g 

o ffic e s in c r e a s e d b y 6 4 6 , o r 2 .8 p e r c e n t , d u r in g 1 9 5 8 . T h e n u m b e r o f 

b a n k s d e c lin e d b y 7 0 b u t t h e r e w a s a n e t in c r e a s e o f 7 1 6 b r a n c h e s . D e ­

t a ile d i n f o r m a t i o n o n c h a n g e s a m o n g b a n k s a n d b r a n c h e s d u r in g 1 9 5 8 

is f o u n d in T a b l e 10 1 o f t h is r e p o r t .

I n 1 9 5 8 , 9 6 b a n k s b e g a n o p e r a t io n s , a n d 1 4 c e a s e d b u s in e s s b e c a u s e 

o f fin a n c ia l d iffic u lt ie s o r v o l u n t a r y liq u id a t io n . A n o t h e r 1 5 2 b a n k s 

c e a s e d o p e r a t io n s b e c a u s e o f a b s o r p t io n s , c o n s o lid a t io n s , a n d m e r g e r s . 

H o w e v e r , t h e n u m b e r o f s u c h t r a n s a c t io n s d e c r e a s e d f o r t h e t h ir d c o n ­

s e c u t i v e y e a r s in c e t h e h ig h o f 2 3 1 in 1 9 5 5 . O f t h e 7 5 3 b r a n c h e s o p e n e d f o r 

b u s in e s s , 1 3 5 r e p r e s e n t e d t h e c o n v e r s io n o f a b s o r b e d b a n k s i n t o b r a n c h e s . 

O n ly 3 7 b r a n c h e s w e r e d is c o n t in u e d d u r in g 1 9 5 8 .

T a b le 3 8 . N u m b e r a n d D e po sit s o f a l l B a n k s in th e U n it e d St a t e s

(C o n t in e n t a l U . S. an d Ot h e r A r e a s ), D e c e m b e r 3 1 , 1 9 5 8

Number or deposits Percentage of total

Total Insured

banks

Noninsured

banks

Insured

banks

Noninsured

banks

Number of banks—tota l:........................ 14,060 13,365 695 95.1% 4.9%

Banks of deposit........................................ 14,006 13,365 641 95.4 4.6

Commercial............................................. 18,^86 1S,12U S62 97.S 2.7

Mutual savings....................................... 520 2U 279 16.8 58.7

Trust companies not regularly engaged

in deposit banking................................. 54 54 100.0

Deposits (In millions)—to ta l:................ $251,332 $242,445 $8,886 96.5% 3.5%

Banks of deposit........................................ 251,263 242,445 8,818 96.5 3.5

Commercial............................................. 217,223 215,169 2,055 99.1 .9

Mutual savings....................................... SItMO 27,277 6,76U 80.1 19.9

Trust companies not regularly engaged

in deposit banking1................................ 68 68 100.0

1 Deposits of these companies consist of uninvested trust funds and special accounts.

Detailed data: See Table 106, pp. 178-179.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
NUMBER OF BANKS AND BRANCHES 143

I n s u r a n c e s t a t u s o f b a n k s . D u r i n g e a c h y e a r s in c e t h e b e g in n in g 

o f d e p o s it in s u r a n c e a d m is s io n s t o in s u r a n c e h a v e in c l u d e d n e w ly o r ­

g a n iz e d b a n k s a n d p r e v i o u s l y o p e r a t in g n o n in s u r e d b a n k s . A s a r e s u lt , 

a n d d e s p it e t h e d e c lin e in t o t a l n u m b e r o f b a n k s , t h e n u m b e r o f in s u r e d 

b a n k s in c r e a s e d f r o m 1 3 ,2 1 8 o n J a n u a r y 1, 1 9 3 4 , t o 1 3 ,3 6 5 a t t h e e n d 

o f 1 9 5 8 .

O n D e c e m b e r 3 1 , 1 9 5 8 , m o r e t h a n 9 5 p e r c e n t o f a ll b a n k s in t h e U n it e d 

S ta te s w e r e p a r t ic i p a t in g in F e d e r a l d e p o s i t in s u r a n c e . T h e s e b a n k s 

h e ld 9 6 .5 p e r c e n t o f t h e d e p o s it s in a ll b a n k s . T a b l e 3 8 s h o w s t h e n u m b e r 

a n d d e p o s it s o f a ll b a n k s in t h e U n it e d S ta te s , w it h t h e b a n k s g r o u p e d 

b y in s u r a n c e s t a t u s a n d t y p e o f b a n k .

B a n k A sse t s

C h a n g e s i n t o t a l a s s e t s f r o m 1 9 3 4 t o 1 9 5 8 . O n D e c e m b e r 3 1 , 1 9 5 8 , 

t h e a s s e ts o f a ll b a n k s a m o u n t e d t o $ 2 7 8 b illio n , r e p r e s e n t in g a m o r e 

t h a n 4 0 0 p e r c e n t in c r e a s e s in c e J a n u a r y 1, 1 9 3 4 . T a b l e 3 9 a n d C h a r t G 

s h o w c h a n g e s in a s s e ts o f a ll b a n k s b y s e le c t e d d a t e s a n d p e r io d s d u r in g 

t h e 2 5 y e a r s s in c e J a n u a r y 1, 1 9 3 4 .

Chart G . A m o u n t a n d P e r c e n t a g e D is t r ib u t io n o f A s s e t s, A l l B a n k s in t h e

U n it e d S t a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s ), Se l e c t e d D a t e s , 1 9 3 4 -1 9 5 8

<934 1340 1946 1952 1958 1934 1940 1946 1952 1958

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
144 FEDERAL DEPOSIT INSURANCE CORPORATION

A s s e t s o f a ll b a n k s g r e w m o s t r a p i d ly d u r in g t h e fir s t h a l f o f t h e 2 5 - 

y e a r p e r io d , r e fle c t in g b o t h r e c o v e r y f r o m t h e d e p r e s s io n a n d e x p a n s io n 

o f e c o n o m i c a c t i v i t y d u r in g W o r l d W a r I I . A lt h o u g h a s s e t g r o w t h 

w a s i n t e r r u p t e d in t h e r e c e s s io n o f 1 9 3 7 -3 8 , a t t h e e n d o f 1 9 4 0 t o t a l 

a s s e ts w e r e 6 4 p e r c e n t a b o v e t h e 1 9 3 4 le v e l a n d 18 p e r c e n t a b o v e t h e 

m id -1 9 2 9 t o t a l . D u r in g t h e s ix y e a r s e n d in g w i t h 1 9 4 6 , t o t a l b a n k a s s e ts 

in c r e a s e d e v e n m o r e r a p id ly , a lm o s t d o u b l i n g d u r in g t h is p e r io d .

S in c e t h e e n d o f W o r l d W a r I I g r o w t h in b a n k a s s e ts h a s b e e n s lo w e r 

b u t m o r e s t e a d y . I t w ill b e n o t e d f r o m T a b l e 3 9 t h a t d u r in g t h e s ix y e a r s 

e n d in g in 1 9 5 2 b a n k a s s e ts g r e w b y 2 7 p e r c e n t , a n d in t h e m o s t r e c e n t 

s ix -y e a r p e r io d b y 2 9 p e r c e n t .

T a b le 3 9 . A sse ts o f A l l B a n k s in t h e U n it e d St a t e s (C o n t in e n t a l U . S.

a n d O t h e r A r e a s ), Se l e c t e d D a t e s , 1 9 3 4 -1 9 5 8

Year or period

A m ount (In m illions)2

1958...............................

1952...............................

1946...............................

1940...............................

1934...............................

Percent of total2

1958....................

1952....................

1946....................

1940....................

1934....................

Percentage change by 

period

1934-1958*...................

1952-1958....................

1946-1952....................

1940-1946....................

1934-1940*...................

Total

assets

$277,880

214,833

169,568

85,281

52,151

100.0%

100.0

100.0

100.0

100.0

432.8%

29.3

26.7

63.5

Cash 

and 

funds 

due from 

banks

$50,147

45,765

35,258

28,216

8,279

18.1%

21.3

20.8

33.1

15.9

505.75

9.6

29.8

25.0

240.8

U. S.

Government

obligations

$73,935

73,243

87,159

21,057

8,724

26.6%

34.1

51.4

24.7

16.7

747.5%

.9

16.0

313.9

141.4

Other

securities

$26,390

17,217

9,548

9,478

9,900

9.5%

8.0

5.7

11.1

19.0

166.6%

53.3

80.3 

.7

-4.3

Loans

and

discounts1

$122,287

75,929

35,840

23,780

22,105

44.03

35.3 

21.1 

27.9

42.4

453.2%

61.1

111.9

50.7

7.6

Other

$5,120

2,679

1,762

2,750

3,143

1.8%

1.3

1.0

3.2

6.0

62.9%

91.1

52.0

-35.9

-12.5

1 Net of valuation reserves.

* At end of year, except for 1934 which is as of December 30, 1933, for banks operating January 1, 

1934. Amounts for dates prior to 1958 have been revised and differ from amounts shown in previous 

annual reports.

* Includes 25 years, January 1, 1934—December 31, 1958.

< Includes seven years, January 1, 1934—December 31, 1940.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

T h e r e h a v e b e e n s ig n ific a n t c h a n g e s in t h e c o m p o s it io n o f b a n k a s s e ts 

d u r in g t h e p a s t 2 5 y e a r s . F o r e x a m p le , c a s h a n d fu n d s d u e f r o m b a n k s 

m o r e t h a n t r ip le d b e t w e e n J a n u a r y 1, 1 9 3 4 , a n d t h e e n d o f 1 9 4 0 ; o n t h e 

l a t t e r d a t e t h e y c o m p r is e d o n e - t h ir d o f a ll a s s e ts , c o m p a r e d w it h o n l y 

1 6 p e r c e n t a t t h e b e g in n in g o f 1 9 3 4 . T h i s c h a n g e la r g e ly r e fl e c t e d h e a v y 

in flo w s o f g o l d a f t e r 1 9 3 3 . D u r i n g t h e s ix -y e a r p e r io d f r o m 1 9 4 0 t o 1 9 4 6

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANK ASSETS 145

t h e a m o u n t o f c a s h a n d fu n d s d u e fr o m b a n k s d e c lin e d t o o n e - fift h o f 

t o t a l b a n k a s s e ts , a n d h a s s in c e r e m a in e d a t a b o u t t h e s a m e r e la t iv e le v e l.

T h e i m p o r t a n c e o f U n it e d S t a t e s G o v e r n m e n t o b lig a t io n s in b a n k 

p o r t f o l i o s h a s a ls o f lu c t u a t e d m a r k e d l y d u r in g t h e la s t 2 5 y e a r s . F r o m 

o n l y 17 p e r c e n t o f a ll b a n k a s s e ts o n J a n u a r y 1, 1 9 3 4 , o b lig a t io n s o f 

t h e U n it e d S t a t e s G o v e r n m e n t h e ld b y b a n k s g r e w u n t il a t t h e e n d o f 

1 9 4 6 t h e y c o m p r is e d m o r e t h a n 5 0 p e r c e n t o f a ll s u c h a s s e ts . S in c e W o r l d 

W a r I I t h e r e h a s b e e n a d e c lin e in t h e a m o u n t o f U n it e d S t a t e s G o v e r n ­

m e n t o b l ig a t io n s h e ld b y t h e b a n k in g s y s t e m . T h i s d e c lin e , t o g e t h e r w it h 

a n e x p a n s io n o f lo a n s a n d o t h e r s e c u r it ie s , r e d u c e d U n it e d S t a t e s G o v e r n ­

m e n t o b lig a t io n s t o a b o u t 2 7 p e r c e n t o f a ll b a n k a s s e ts .

O n J a n u a r y 1, 1 9 3 4 , lo a n s a n d d is c o u n t s w e r e s lig h t ly m o r e t h a n 

4 2 p e r c e n t o f a ll b a n k a s s e ts , a n d , a lt h o u g h t h e r e w a s s o m e s lig h t g r o w t h 

d u r in g t h e f o l lo w in g s e v e n y e a r s , h a d d r o p p e d t o o n l y 2 8 p e r c e n t o f a ll 

a s s e ts b y t h e e n d o f 1 9 4 0 , a s c a s h a n d fu n d s d u e fr o m b a n k s b e c a m e 

r e l a t iv e l y la r g e r . B y t h e e n d o f 1 9 4 6 , w h e n U n it e d S t a t e s G o v e r n m e n t 

o b lig a t io n s w e r e t h e m o s t i m p o r t a n t s in g le c o m p o n e n t o f b a n k a s s e ts , 

lo a n s a n d d is c o u n t s a m o u n t e d t o 2 1 p e r c e n t o f t o t a l a s s e ts . W i t h r e n e w e d 

le n d in g o p p o r t u n it ie s s in c e t h e e n d o f W o r l d W a r I I , lo a n s a n d d is c o u n t s 

h a v e in c r e a s e d s u b s t a n t ia lly , a n d a t t h e e n d o f 1 9 5 8 w e r e a g a in m o r e 

t h a n t w o - f i f t h s o f t o t a l b a n k a s s e ts .

C h a n g e s i n b a n k a s s e t s d u r i n g 1 9 5 8 . A s s e t s o f a ll b a n k s in c r e a s e d 

b y 7 .2 p e r c e n t d u r in g 1 9 5 8 , t h e la r g e s t p e r c e n t a g e in c r e a s e d u r in g a n y 

y e a r s in c e W o r l d W a r I I . T h i s g r o w t h w a s a s s o c ia t e d w it h r e c o v e r y 

f r o m t h e r e c e s s io n w h ic h h a d s t a r t e d in 1 9 5 7 . T a b l e 4 0 p r o v i d e s a d is t r ib u t i o n o f a s s e ts o f a ll b a n k s in t h e U n it e d S t a t e s a t t h e e n d o f 1 9 5 8 , a n d 

s h o w s t h e p e r c e n t a g e c h a n g e s w h ic h o c c u r r e d d u r in g t h e y e a r .

F o r a ll b a n k s , e a c h o f t h e t h r e e m a jo r a s s e t c o m p o n e n t s in c r e a s e d 

d u r in g 1 9 5 8 . T o t a l s e c u r it ie s h e ld b y b a n k s w e r e u p 13 p e r c e n t , lo a n s 

a n d d is c o u n t s 6 p e r c e n t , a n d c a s h a n d fu n d s d u e f r o m b a n k s s l ig h t ly 

m o r e t h a n 1 p e r c e n t . T h i s d i ffe r e d f r o m t h e s it u a t io n in 1 9 5 7 w h e n c a s h 

a n d fu n d s d u e f r o m b a n k s d e c lin e d , a n d w h e n lo a n s a n d s e c u r it ie s r o s e 

5 a n d 2 p e r c e n t , r e s p e c t iv e ly .

T h e in c r e a s e in s e c u r it ie s h e ld b y b a n k s w a s la r g e ly a t t r i b u t a b l e t o 

a n e x p a n s io n o f a b o u t $ 8 b illio n in h o ld in g s o f U n it e d S t a t e s G o v e r n m e n t 

o b lig a t io n s . T h i s w a s t h e la r g e s t s in g le -y e a r in c r e a s e , m e a s u r e d e it h e r 

b y a m o u n t o r p e r c e n t , f o r a n y y e a r s in c e W o r l d W a r I I . A s a r e s u lt , t h e 

p r o p o r t i o n o f U n it e d S t a t e s G o v e r n m e n t o b lig a t io n s t o t o t a l a s s e ts o f 

a ll b a n k s r o s e f r o m 2 6 t o 2 7 p e r c e n t d u r in g 1 9 5 8 .

B a n k in v e s t m e n t in t h e s e c u r it ie s o f S t a t e s a n d p o l i t i c a l s u b d iv is io n s 

c o n t i n u e d t o in c r e a s e d u r in g 1 9 5 8 . A t o t a l o f $ 2 .6 b illio n o f s u c h s e c u r it ie s 

w a s a d d e d t o b a n k in v e s t m e n t p o r t f o li o s d u r in g t h e y e a r . A t t h e e n d o f

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146 FEDERAL DEPOSIT INSURANCE CORPORATION

1 9 5 8 o v e r 6 p e r c e n t o f a ll b a n k a s s e ts c o n s is t e d o f o b lig a t io n s o f S t a t e s 

a n d p o l i t ic a l s u b d iv is io n s .

T a b le 4 0 . A ssets o f A l l B a n k s in th e U n ite d Sta t e s (C o n t in e n t a l U . S. a n d

O t h e r A r e a s ), D e c e m b e r 3 1 , 1 9 5 8, an d P e r c e n t a g e C h a n g e s D u r in g 1 9 5 8

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

Assets All

Commercial banks Mutual savings banks

banks

Total Insured Noninsured Total Insured Noninsured

Am ount (in millions) 

December 31, 1958

Total assets.................. $277,880 $240,101 $237,473 $2,628 $37,779 $30,189 $7,590

Cash and funds due 

from banks.............. 50,147 49,226 48,792 434 921 752 169

Securities..................... 100,325 87,362 86,056 1,305 12,963 9,800 3,163

U.S. Government obligations ............... 73,935 66,670 65,789 881 7,265 5,215 2,050

Obligations of States

and subdivisions. . 17,311 16,585 16,317 268 725 632 93

Other securities........ 9,079 U,106 3,951 156 U,973 3,953 1,020

Loans and discounts, 

net............................ 122,287 98,930 98,132 799 23,357 19,180 4,177

Valuation reserves....... 2,188 1,960 1,955 5 228 207 21

Loans and discounts, 

gross......................... 124,476 100,890 100,087 803 23,586 19,387 4,199

Commercial and industrial................. h0,771 ^0,688 U0,!>57 231 83 79 U

Agricultural {except

real estate)............ U,993 It,992 A,927 65 1 1 0)

For carrying securities..................... A,698 A,686 U,610 76 12 9 3

Real estate................ 1*8,786 25,523 25,267 255 23,263 19,155 U,109

Other loans to individuals .................. 21,08U 20,830 20,680 1U9 20U 128 77

All other loans......... U.19U U,172 u a u 28 22 15 6

Fixed and miscellaneous assets................ 5,121 4,583 4,493 90 537 458 79

Percentage change

December 31, 1957, to 

December 31, 1958

Total assets.................. 7.2% 7.2% 7.2% 5.7% 7.4% 9.1% 1.2%

Cash and funds due 

from banks.............. 1.2 1.2 1.2 .8 3.5 4.6 -.8

Securities..................... 12.6 14.1 14.2 6.7 3.2 4.9 -1.9

U. S. Government obligations ............... 11.9 13.9 lk.0 6.U -3 .8 -3 .5 -U.6

Obligations of States

and subdivisions. . 18.0 18.6 18.8 5.1 6.U 8.3 -U.8

Other securities........ 8.3 1.1, 1.0 11.u 1U.8 17.9 U.3

Loans and discounts, 

net............................ 5.6 4.6 4.6 7.6 10.1 11.5 3.9

Valuation reserves....... 9.U 10.1 10.1 23.1 3.7 U.8 -l.U

Loans and discounts, 

gross......................... 5.7 4.7 4.7 7.7 10.0 11.5 3.8

Commercial and industrial ................. -.1 -.2 -.2 4 66.6 71.2 10.9

Agricultural (except

real estate) ............ 22.2 22.2 22.3 17.8 -1 0 .7 -1 0 .9 -8.1

For carrying securities ..................... 10.5 10.5 10.5 7.7 U0.6 56.8 5.U

Real estate................ 9.6 9.U 9.U 9.7 9.9 11.3 3.8

Other loans to individuals .................. 2.5 2.5 2.U 1U.U 12.8 18.3 U.7

All other loans......... 17.1 17.1, 17.5 - .7 -1 9 .0 -2 7 .8 13.5

Fixed and miscellaneous assets............. 7.3 7.2 7.4 .5 8.2 9.9 -.4

1 Amount less than $500,000.

Detailed data: See Table 108, pp. 184-185.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

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BANK ASSETS 147

F o r a ll b a n k s , lo a n s a n d d is c o u n t s in c r e a s e d $ 6 .5 b illio n d u r in g 1 9 5 8 . 

A m o n g m a jo r lo a n c o m p o n e n t s o f c o m m e r c ia l b a n k s , in d u s t r ia l a n d 

c o m m e r c ia l lo a n s fe ll d u r in g 1 9 5 8 , a lt h o u g h t h e d e c lin e f o r t h e y e a r w a s 

o n l y t w o - t e n t h s o f 1 p e r c e n t . A g r ic u lt u r a l lo a n s o f c o m m e r c ia l b a n k s , 

e x c lu d in g r e a l e s t a t e , s h o w e d t h e la r g e s t p e r c e n t a g e g a in , 2 2 p e r c e n t , 

b u t s u c h lo a n s c o m p r is e a r e l a t iv e l y s m a ll p r o p o r t i o n o f t o t a l b a n k lo a n s . 

R e a l e s t a t e lo a n s , w h ic h c o m p r is e a lm o s t a ll lo a n s o f m u t u a l s a v in g s 

b a n k s a n d a p p r o x i m a t e ly o n e - f o u r t h o f c o m m e r c ia l b a n k lo a n s , w e r e 

u p a b o u t 1 0 p e r c e n t d u r in g 1 9 5 8 , w it h c o m m e r c ia l b a n k s a n d m u t u a l 

s a v in g s b a n k s s h o w in g a p p r o x i m a t e ly t h e s a m e r a t e s o f in c r e a s e .

“ O t h e r lo a n s t o in d i v i d u a l s ” o f c o m m e r c ia l b a n k s , a lo a n c a t e g o r y 

w h ic h h a s s h o w n a s u b s t a n t ia l r a t e o f in c r e a s e d u r in g m o s t r e c e n t y e a r s 

p r io r t o 1 9 5 8 , r o s e o n l y 2 .5 p e r c e n t d u r in g t h e y e a r . H o w e v e r , t h e r e w e r e 

s ig n ific a n t d iffe r e n c e s in t h e r a t e s o f c h a n g e f o r v a r io u s c o m p o n e n t s o f 

t h is t o t a l. F o r e x a m p le , p a s s e n g e r a u t o m o b i l e in s t a lm e n t lo a n s d e c lin e d 

a b o u t 2 p e r c e n t d u r in g 1 9 5 8 , r e fle c t in g t h e d e p r e s s e d le v e l o f a u t o m o b i l e 

s a le s d u r in g t h e y e a r . T h i s w a s t h e fir s t d e c lin e in t h is c o m p o n e n t s in c e 

1 9 5 4 a n d m a y b e c o n t r a s t e d w it h in c r e a s e s o f 8 p e r c e n t in 1 9 5 6 a n d 11 

p e r c e n t in 1 9 5 7 . O t h e r r e ta il c o n s u m e r in s t a lm e n t lo a n s a ls o d e c lin e d 

d u r in g 1 9 5 8 , b u t i n s t a lm e n t lo a n s f o r p e r s o n a l e x p e n d it u r e s a n d s in g le 

p a y m e n t lo a n s f o r p e r s o n a l e x p e n d it u r e s r o s e 11 p e r c e n t a n d 8 p e r c e n t 

r e s p e c t iv e ly .

B a n k L ia b il it ie s a n d C a p it a l A c c o u n t s

Changes in liabilities and capital accounts from 1934 to 1958.

C h a n g e s in b a n k d e p o s it s p a r a lle l t h o s e in t o t a l a s s e ts . T h e r e w a s a 

s u b s t a n t ia l in c r e a s e in d e p o s it s o v e r t h e p e r io d fr o m J a n u a r y 1, 1 9 3 4 , 

t o D e c e m b e r 3 1 , 1 9 4 0 , r e fle c t in g r e c o v e r y f r o m t h e d e p r e s s io n , a n d t h is 

w a s f o l l o w e d b y a s t ill m o r e r a p id in c r e a s e d u r in g t h e y e a r s o f W o r l d 

W a r I I . S in c e 1 9 4 6 d e p o s it g r o w t h h a s b e e n m o r e m o d e r a t e a n d c o m p a r a ­

t i v e l y s t e a d y w h e n v i e w e d b y p e r io d s . T a b l e 4 1 s h o w s c h a n g e s in lia ­

b ilit ie s a n d c a p it a l a c c o u n t s o f a ll b a n k s d u r in g t h e p a s t 2 5 y e a r s .

D u r i n g t h e 2 5 y e a r s s in c e J a n u a r y 1, 1 9 3 4 , t h e r e h a v e b e e n s ig n ific a n t 

d iffe r e n c e s in t h e r a t e s o f c h a n g e o f v a r io u s t y p e s o f d e p o s it s . D u r i n g 

t h e fir s t s e v e n y e a r s , d e m a n d d e p o s it s a n d i n t e r b a n k d e p o s it s g r e w m o s t 

r a p id ly , a t r a t e s s u b s t a n t ia lly e x c e e d in g t h e 8 0 p e r c e n t in c r e a s e in t o t a l 

d e p o s it s , w h e r e a s t im e d e p o s it s g r e w b y o n l y a b o u t o n e - f o u r t h a n d 

U n it e d S t a t e s G o v e r n m e n t d e p o s it s d e c lin e d . D u r i n g t h e n e x t s ix y e a r s , 

d e p o s it s o f t h e U n it e d S t a t e s G o v e r n m e n t r o s e f o u r - f o l d , r e fle c t in g t h e 

i m p a c t o f t h e w a r y e a r s , a n d s a v in g s a n d t im e d e p o s it s in c r e a s e d a t a 

fa s t e r r a t e t h a n e a r lie r , t h o u g h s t ill b e l o w t h a t f o r d e m a n d d e p o s it s . 

D u r i n g t h e s e y e a r s in t e r b a n k d e p o s it s s h o w e d t h e s lo w e s t r a t e o f g r o w t h 

a m o n g t h e f o u r m a jo r d e p o s i t c o m p o n e n t s .

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148 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 4 1 . L ia b il it ie s a n d C a p it a l A c co u n ts o f A l l B a n k s in t h e U n it e d

St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), Se l e c t e d D a t e s , 1 9 3 4 -1 9 5 8

Year or period

Am ount (in millions)

1958...........................

1952...........................

1946...........................

1940...........................

1934...........................

Percent of total1

1958...........................

1952...........................

1946...........................

1940...........................

1934...........................

Percentage change by 

period

1934-1958*...................

1952-1958....................

1946-1952....................

1940-1946.................. .

1934-1940*...................

Total

liabilities

and

capital

accounts

$277,880

214,833

169,568

85,281

52,151

100.0%

100.0

100.0

100.0

100.0

432.8%

29.3

26.7

98.8 

63.5

Liabilities

Deposits

$251,332

196,431

156,929

76,318

42,376

90.4%

91.4

92.5

89.5 

81.3

493.1%

27.9

25.2

105.6

80.1

Other

$4,727

2,947

1,178

645

2,254

1.7%

1.4

.7

.8

4.3

109.7%

60.4

150.2

82.6

-71.4

Capital accounts

Total

$21,822

15,454

11,462

8,318

7,521

7.9^

7.2

6.8

9.7

14.4

190.1%

41.2

34.8

37.8 

10.6

Capital 

stock, 

notes 

and debentures

$5,568

4,017

3,303

3,041

3,345

2.0%

1.9

2.0

3.5

6.4

66.5%

38.6

21.6 

8.6

-9.1

Other

$16,254

11,437

8,159

5,276

4,176

5.9%

5.3

4.8

6.2

8.0

289.2%

42.1

40.2 

54.6

26.3

1 At end of year, except for 1934 which is as of December 30, 1933, for banks operating January 1, 

1934. Amounts for dates prior to 1958 have been revised and differ from amounts shown in previous 

annual reports.

* Includes 25 years, January 1, 1934—December 31, 1958.

* Includes seven years, January 1, 1934—December 31, 1940.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

B e t w e e n 1 9 4 6 a n d 1 9 5 2 t o t a l d e p o s it s in a ll b a n k s r o s e 2 5 p e r c e n t , 

w i t h a lm o s t e x a c t l y e q u a l r a t e s o f in c r e a s e in d e m a n d d e p o s i t s a n d t im e 

d e p o s it s , w h ic h t o g e t h e r c o m p r is e d , in 1 9 5 2 , a b o u t 9 0 p e r c e n t o f a ll 

d e p o s it s . D u r i n g t h e m o s t r e c e n t 6 - y e a r p e r io d , h o w e v e r , t i m e d e p o s it s 

h a v e in c r e a s e d m o r e t h a n t h r e e t im e s a s r a p i d l y a s d e m a n d d e p o s it s . 

D e p o s i t s o f t h e U n it e d S t a t e s G o v e r n m e n t c o n t i n u e d t o in c r e a s e d u r in g 

t h e s ix y e a r s f o l l o w i n g t h e e n d o f W o r l d W a r I I , a lt h o u g h a t a m u c h 

s lo w e r r a t e t h a n fo r m e r ly , a n d d u r in g t h e m o s t r e c e n t 6 - y e a r p e r i o d 

h a v e d e c lin e d . I n t e r b a n k d e p o s it s d u r in g e a c h o f t h e p e r io d s s in c e t h e 

e n d o f W o r l d W a r I I r o s e a t a s o m e w h a t s lo w e r r a t e t h a n a ll d e p o s it s .

A t t h e e n d o f 1 9 5 8 t o t a l c a p it a l a c c o u n t s in a ll b a n k s a m o u n t e d t o 

$ 2 2 b illio n , r e p r e s e n t in g a lm o s t a 2 0 0 p e r c e n t in c r e a s e s in c e J a n u a r y 1, 

1 9 3 4 . O n t h e e a r lie r d a t e 5 5 p e r c e n t o f t o t a l c a p it a l a c c o u n t s c o n s is t e d 

o f s u r p lu s , u n d iv id e d p r o fit s , a n d o t h e r r e s e r v e s , a n d 4 5 p e r c e n t w a s 

c a p it a l s t o c k , n o t e s , a n d d e b e n t u r e s . B a n k s h a v e d e p e n d e d p r im a r ily 

u p o n r e t a in e d e a r n in g s t o in c r e a s e c a p it a l d u r in g t h e p a s t 2 5 y e a r s a s 

is d e m o n s t r a t e d b y t h e f a c t t h a t , a t t h e e n d o f 1 9 5 8 , s u r p lu s , u n d i v i d e d 

p r o f it s , a n d o t h e r r e s e r v e s a m o u n t e d t o t h r e e -fo u r t h s o f t o t a l c a p it a l

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a c c o u n t s w h ile o n l y o n e - f o u r t h w a s c a p it a l s t o c k , n o t e s , a n d d e b e n t u r e s . 

W h e n in s u r e d c o m m e r c ia l b a n k s a r e v i e w e d a p a r t f r o m o t h e r b a n k s , 

t h e c h a n g e is e v e n m o r e s t r ik in g , s in c e f o r t h o s e b a n k s c a p it a l s t o c k , 

n o t e s , a n d d e b e n t u r e s c o m p r is e d m o r e t h a n h a lf o f t o t a l c a p it a l in 1 9 3 4 , 

c o m p a r e d w it h le s s t h a n 3 0 p e r c e n t a t t h e e n d o f 1 9 5 8 . C h a r t H s h o w s , 

f o r in s u r e d c o m m e r c ia l b a n k s , c h a n g e s in b a n k c a p it a l a n d c a p it a l r a t io s 

b e t w e e n 1 9 3 4 a n d 1 9 5 8 .

C h a r t H . B a n k C a p it a l a n d C a p it a l R a t io s , I n s u r e d C o m m e r cia l B a n k s in t h e 

U n ite d S t a t e s ( C o n t in e n t a l U . S. a n d O t h e r A r e a s ), 1934-1958

G r o w t h in b a n k c a p it a l a c c o u n t s s in c e 1 9 3 4 h a s n o t k e p t p a c e w i t h 

t h e r is e in b a n k a s s e ts , w it h t h e r e s u lt t h a t t h e r a t io o f c a p it a l a c c o u n t s 

t o t o t a l a s s e ts o f a ll b a n k s d e c lin e d f r o m 1 4 .4 p e r c e n t in 1 9 3 4 t o 7 .9 

p e r c e n t a t t h e e n d o f 1 9 5 8 . H o w e v e r , t h e 1 9 5 8 r a t io r e p r e s e n ts a c o n s id e r ­

a b le i m p r o v e m e n t o v e r 1 9 4 5 , w h e n t h e r a t io f o r a ll b a n k s fe ll b e l o w 6 

p e r c e n t . S in c e t h a t t i m e t h e r e h a s b e e n a n in c r e a s e in t h e r a t i o in a ll 

b u t a f e w y e a r s .

I n c o n t r a s t t o t h e im p r o v e m e n t in t h e r a t io o f c a p it a l t o t o t a l a s s e ts 

d u r in g r e c e n t y e a r s , t h e r e h a s b e e n n o s im ila r d e v e l o p m e n t w it h r e s p e c t 

t o t h e r a t io o f c a p it a l t o a s s e ts o t h e r t h a n c a s h a n d U n it e d S t a t e s G o v e r n ­

m e n t o b lig a t io n s . A s s h o w n f o r in s u r e d c o m m e r c ia l b a n k s in C h a r t H , 

t h is r a t io d e c lin e d p r e c i p i t o u s l y b e t w e e n 1 9 4 3 a n d 1 9 5 5 , a s c o m m e r c i a l 

b a n k s r e d u c e d t h e ir h o ld in g s o f U n it e d S t a t e s G o v e r n m e n t o b l ig a t io n s

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150 FEDERAL DEPOSIT INSURANCE CORPORATION

a n d e x p a n d e d t h e ir lo a n v o l u m e . S in c e 1 9 5 5 , h o w e v e r , t h e r e h a s b e e n 

v i r t u a l l y n o c h a n g e in t h is r a t io .

C h a n g e s i n l i a b i l i t i e s a n d c a p i t a l a c c o u n t s d u r i n g 1 9 5 8 . T o t a l 

d e p o s it s in a ll b a n k s in c r e a s e d b y $ 1 7 b illio n , o r 7 .3 p e r c e n t , d u r in g 1 9 5 8 

a n d , a s w a s t h e c a s e w it h r e s p e c t t o b a n k a s s e ts , t h e in c r e a s e in d e p o s it s 

w a s t h e la r g e s t p e r c e n t a g e in c r e a s e f o r a n y y e a r s in c e W o r l d W a r I I . 

T a b l e 4 2 p r o v i d e s a d is t r ib u t io n o f d e p o s it s b y t y p e o f d e p o s it , a s o f 

D e c e m b e r 3 1 , 1 9 5 8 , a n d s h o w s p e r c e n t a g e c h a n g e s d u r in g t h e y e a r .

T a b le 4 2 . D e p o sit s o f A l l B a n k s in t h e U n it e d St a t e s (C o n t in e n t a l U . S.

a n d O t h e r A r e a s), D e c e m b e r 31, 1958, a n d P e r c e n t a g e C h a n g e s D u r in g 1958

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

All

banks

Commercial banks Mutual savings banks

Deposits

Total Insured Noninsured Total Insured Noninsured

Am ount (in millions) 

December 31, 1958

Total deposits.............. $251,332 $217,291 $215,169 $2,123 $34,040 $27,277 $6,764

Business and personal: 

Demand1.................. 119,728 119,701 118,657 1,043 27 27 (2)

Time and savings... 94,012 60,020 59,570 450 33,993 27,232 6,761

States and subdivisions 14,722 14,707 14,454 253 15 13 2

United States Government......................... 4,644 4,641 4,590 51 3 3 1

Interbank and postal 

savings deposits. . . . 18,226 18,223 17,898 325 3 2 (»)

Total demand deposits. 150,902 150,869

66,422

149,488 1,381

741

32 81 1

Total time deposits. . . . 100,480 65,681 84,008 27,245 6,768

Percentage change

December 31, 1957, to 

December 31, 1958

Total deposits.............. 7.3% 7.3% 7.3% 6.2% 7.4% 9.0% 1.4%

Business and personal: 

Demand1................. 5.2 5.2 5.2 8.2 10.6 10.8 -3.5

Time and savings... 10.1 11.7 11.7 5.6 7.4 9.0 1.4

States and subdivisions 7.8 7.8 7.9 4.3 17.7 17.6 18.0

United States Government ......................... 8.8 8.9 9.8 -37.6 -20.6 -16.3 -36.7

Interbank and postal 

savings deposits.... 6.8 6.8 6.6 14.7 47.2 47.4 41.7

Total demand deposits. 4.6 4.6 4.7 2.2 4.7 6.1 -2 4 .9

Total time deposits. . . . 11.6 13.9 13.9 14.6 7.4 9.0 1.4

1 Includes certified and officers’ checks, cash letters of credit, etc.

* Amount less than $500,000.

Detailed data: See Table 108, pp. 184-185.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

D e p o s i t s o f c o m m e r c ia l b a n k s in c r e a s e d a t a p p r o x i m a t e ly t h e s a m e 

r a t e d u r in g 1 9 5 8 a s d e p o s it s o f m u t u a l s a v in g s b a n k s . U n lik e 1 9 5 7 , 

w h e n a r e l a t iv e l y s m a ll in c r e a s e in t o t a l d e p o s it s w a s e n t ir e ly a t t r i b u t a b l e 

t o a n in c r e a s e in t i m e d e p o s it s , 1 9 5 8 s a w a n in c r e a s e o f 12 p e r c e n t in 

t o t a l t i m e d e p o s it s a n d 5 p e r c e n t in t o t a l d e m a n d d e p o s it s .

C a p it a l a c c o u n t s o f a ll o p e r a t in g b a n k s in c r e a s e d b y $ 1 .3 b i llio n d u r in g 

1 9 5 8 . T o t a l c a p it a l a c c o u n t s o f c o m m e r c ia l b a n k s in c r e a s e d r e la t iv e l y

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BANK LIABILITIES AND CAPITAL ACCOUNTS 151

m o r e t h a n t h e s u r p lu s a c c o u n t s o f m u t u a l s a v in g s b a n k s . T h e r is e in 

t o t a l c a p it a l w a s a b o u t e n o u g h t o k e e p p a c e w it h t h e r is e in b a n k a s s e ts 

d u r in g 1 9 5 8 , s o t h a t t h e r e w a s n o s ig n ific a n t c h a n g e in t h e r a t io o f t o t a l 

c a p it a l a c c o u n t s t o t o t a l a s s e ts d u r in g t h e y e a r . T a b l e 4 3 s h o w s t o t a l 

c a p it a l a c c o u n t s , b y t y p e o f c a p it a l, f o r a ll b a n k s a s o f D e c e m b e r 3 1 , 

1 9 5 8 , a s w e ll a s p e r c e n t a g e c h a n g e s d u r in g t h e y e a r .

T a b le 4 3 . C a p it a l A c c o u n t s a n d R a t io s t o T o t a l A s s e ts o p A l l B a n k s in t h e 

U n ite d S t a t e s (C o n t in e n t a l U. S. a n d O t h e r A r e a s ), D e c e m b e r 31, 1958,

a n d P e r c e n t a g e C h a n g e s D u r in g 1958

b a n k s g r o u p e d a c c o r d in g t o in s u r a n c e s t a t u s a n d t y p e o f b a n k

All

banks

Commercial banks Mutual savings banks

Capital

Total Insured Noninsured Total Insured Noninsured

A m ount (in millions) 

December 31, 1958

Capital accounts— 

total........................

Common stock............

$21,822

5,491

77

$18,603

5,491

77

$18,191

5,371

47

$412

120

$3,219 $2,473 $746

Preferred capital. . . . 30

Surplus and guaranty 

funds........................ 11,207

4,258

789

8,925 8,789 135 2,283 1,861 422

Undivided profits.......

Reserves......................

3,539

571

3,457

527

82

44

719

218

427

185

292

33

Percentage change

December 31, 1957, to 

December 31, 1958

Capital accounts— 

total........................

Common stock............

6.3%

4.8

6.4%

4.8

6.5%

4.8

5.3%

2.5

5.2% 7.1% -0.6%

Preferred capital........ 14.6 14.6 2.5 40.4

Surplus and guaranty

funds........................

Undivided profits.......

Reserves......................

6.3

6.2

17.4

6.6

6.9

17.9

6.6

7.0

18.9

2.1

4.2

7.3

5.1

2.7

16.0

6.7

6.0

13.8

-1.7

-1.7

30.7

Ratio of total capital accounts to total assets 7.9% 7.7% 7.7% 15.7% 8.5% 8.2% 9.8%

Note: Due to rounding differences, components may not add precisely to the indicated totals. Percentages computed from unrounded data.

I n c o m e o f I n s u r e d B a n k s

C h a n g e s i n i n c o m e f r o m 1 9 3 4 t o 1 9 5 8 . T o t a l i n c o m e o f a ll in s u r e d 

b a n k s , c o n s is t in g o f c u r r e n t o p e r a t in g e a r n in g s p lu s r e c o v e r ie s , t r a n s fe r s 

f r o m v a l u a t i o n r e s e r v e s , a n d p r o f it s o n a s s e ts s o ld , in c r e a s e d d u r in g t h e 

p a s t 2 5 y e a r s f r o m le s s t h a n $ 2 b illio n in 1 9 3 4 t o $ 1 0 .6 b illio n in 1 9 5 8 . 

I n c o m e o f in s u r e d c o m m e r c ia l b a n k s , w h ic h m a k e s u p t h e la r g e r p a r t 

o f t h e t o t a l, in c r e a s e d b y 4 1 8 p e r c e n t . A s u b s t a n t ia l p r o p o r t i o n o f p r e s ­

e n t l y in s u r e d m u t u a l s a v in g s b a n k s w e r e a d m it t e d t o in s u r a n c e s u b ­

s e q u e n t t o 1 9 3 4 , s o t h a t c o m p a r is o n s o f t o t a l i n c o m e o f in s u r e d m u t u a l 

s a v in g s b a n k s b e t w e e n 1 9 3 4 a n d 1 9 5 8 a r e n o t ju s t ifia b le . T a b l e 4 4 s h o w s , 

f o r in s u r e d c o m m e r c ia l b a n k s in s e le c t e d y e a r s , t o t a l in c o m e , it s s o u r c e s

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Federal Reserve Bank of St. Louis
152 FEDERAL DEPOSIT INSURANCE CORPORATION

a n d i t s u s e s . T a b l e 4 5 s h o w s s im ila r d a t a f o r in s u r e d m u t u a l s a v in g s 

b a n k s .

T a b le 4 4 . So u rces an d D ispo sitio n o f T o t a l I n co m e, I n su r e d C o m m e r c ia l

B a n k s in t h e U n it e d St a t e s (C o n t in e n t a l U. S. a n d Ot h e r A r e a s ),

Se le c te d Y e a r s , 1 9 3 4 -1 9 5 8

Income 1958 1952 1946 1940 1934

Am ount (in millions)

Total incom e........................................... $9,369 $5,076 $3,271 $1,980 $1,810

Sources

Loans......................................................

U. S. Government obligations.............

Other securities......................................

5,141

1,544

502

2,784

1,099

277

951

1,219

177

769

} 500

691

550

Service charges on deposits.................. 487 245 125 } 363 / 35

Other current income............................ 827 527 392 \ 243

Recoveries, etc.1.................................... 868 144 409 349 292

Disposition

Salaries and wages................................. 2,400 1,495 831 485 402

Interest on deposits............................... 1,881 458 269 201 303

Other current expenses......................... 1,832 1,075 663 501 410

Charge-offs, etc.2................................... 783 362 283 386 1,033

Income taxes.......................................... 1,271 695 323 6 3

Dividends to stockholders*................... 726 442 299 237 188

Additions to capital accounts.............. 976 548 603 164 -528

Percent of total

Total incom e........................................... 100.0% 100.0% 100.0% 100.0% 100.0%

Sources

Loans......................................................

U. S. Government obligations.............

54.9

16.5

54.9

21.7

29.1

87.3

38.8 

} 25.2

38.1

30.4 Other securities...................................... 5.4 5.5 5.4

Service charges on deposits.................. 5.2 4.8 3.8 } 18.3 r 1.9

Other current income............................ 8.8 10.4 12.0 \ 13.4

Recoveries, etc.1.................................... 9.3 2.8 12.5 17.6 16.1

Disposition

Salaries and wages................................. 25.6 29.5 25.4 24.5 22.2

Interest on deposits............................... 14.7 9.0 8.2 10.1 16.7

Other current expenses......................... 19.6 21.2 20.3 25.3 22.6

Charge-offs, etc.2................................... 8.4 7.1 8.7 19.5 57.1

Income taxes.......................................... 13.6 13.7 9.9 .3 .2

Dividends to stockholders*................... 7.8 8.7 9.1 12.0 10.4

Additions to capital accounts.............. 10.4 10.8 18.4 8.3 -29.2

1 Recoveries from assets previously charged off except those credited to valuation reserve accounts, 

profits on assets sold, and transfers from valuation reserve accounts.

9 Losses and other charge-offs except those charged to valuation reserve accounts, and transfers 

to valuation reserve accounts.

* Includes interest on capital notes and debentures.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

C h a n g e s in t h e c o m p o s i t i o n o f b a n k a s s e ts s in c e 1 9 3 4 , w h ic h w e r e 

d e s c r ib e d e a r lie r , a r e r e fle c t e d in c h a n g e s in t h e r e la t iv e i m p o r t a n c e o f 

i n c o m e s o u r c e s o f in s u r e d b a n k s . T h u s f o r in s u r e d c o m m e r c ia l b a n k s , 

i n c o m e f r o m lo a n s , w h ic h h a s t r a d i t i o n a l l y b e e n t h e m a jo r s o u r c e o f 

in c o m e , lo s t t h a t p o s i t i o n w h e n t h e s e b a n k s i n v e s t e d h e a v i l y in U n it e d 

S t a t e s G o v e r n m e n t o b lig a t io n s d u r in g W o r l d W a r I I . I n c o m e f r o m lo a n s 

a c c o u n t e d f o r le s s t h a n 3 0 p e r c e n t o f t o t a l in c o m e o f in s u r e d c o m m e r c ia l 

b a n k s in 1 9 4 6 , w h e r e a s in t h a t y e a r i n c o m e f r o m U n it e d S t a t e s G o v e r n ­

m e n t o b l ig a t io n s p r o v i d e d 3 7 p e r c e n t o f t o t a l in c o m e .

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INCOME OF INSURED BANKS 153

T a b le 4 5 . S o u r c e s a n d D is p o s it io n o f T o t a l In com e , I n s u r e d M u t u a l S a v in g s 

B a n k s in t h e U n ite d S t a t e s ( C o n t in e n t a l U. S. a n d O t h e r A r e a s ), 

S e l e c t e d Y e a r s , 1934-19581

Income 1958 1952 1946 1940 1934

Am ount (in millions)

Total incom e........................................... $1,216 $626 $538 $83 $53

Sources

Loans...................................................... 821 331 144 28 25

U. S. Government obligations............. 142 164 171 i QO 1 Q Other securities..................................... 167 63 23

Other current income2........................... 37 26 13 11 4

Recoveries, etc.8.................................... 49 43 187 12 5

Disposition

Salaries and wages................................ 92 60 39 7 3

Dividends and interest on deposits___ 812 365 160 31 27

Other current expenses2........................ 110 80 47 16 10

Charge-offs, etc.4................................... 66 60 142 48 11

Income taxes.......................................... 10 9 6 (6) (®)

Additions to surplus accounts.............. 126 51 143 -19 2

Percent of total

Total incom e........................................... 100.0% 100.0% 100.0% 100.0% 100.0%

Sources

Loans...................................................... 67.5 52.8 26.9 33.5 47.0

U. S. Government obligations............. 11.7 26.2 31.8 I 35* ft OK A

Other securities..................................... 13.8 10.1 4.2 f OOiO 00.4

Other current income............................ 3.0 4.1 2.4 13.0 7.3

Recoveries, etc.*................................... 4.0 6.9 34.7 14.7 10.3

Disposition

Salaries and wages................................. 7.6 9.6 7.2 8.4 5.9

Dividends and interest on deposits___ 66.8 58.3 29.8 37.7 50.1

Other current expenses......................... 9.0 12.8 8.7 19.2 19.4

Charge-offs, etc.4................................... 5.4 9.6 26.5 57.3 20.8

Income taxes.......................................... .9 1.5 1.1 (5) (8)

Additions to surplus accounts.............. 10.3 8.1 26.7 -22.7 3.8

1 Because of changes in 1951 in the method of reporting, data for 1952 and 1958 are not strictly 

comparable with those for 1934, 1940, and 1946.

* Except for years prior to 1951 includes amounts classified as “ non-recurring” income or expenses.

* Recoveries from assets previously charged off except those credited to valuation reserve accounts, 

profits on assets sold, and transfers from valuation reserve accounts.

* Losses and other items charged off except those charged to valuation reserve accounts, and transfers 

to valuation reserve accounts.

5 Amount less than $500,000.

8 Included with other current expenses.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

S in c e t h e e n d o f W o r l d W a r I I a la r g e r p r o p o r t i o n o f t o t a l i n c o m e o f 

a ll in s u r e d b a n k s h a s c o m e f r o m lo a n s a n d d is c o u n t s . I n 1 9 5 2 a b o u t 

o n e - h a lf o f t o t a l in c o m e o f c o m m e r c ia l b a n k s a s w e ll a s m u t u a l s a v in g s 

b a n k s w a s a t t r ib u t a b le t o t h is s o u r c e ; in 1 9 5 8 in c o m e f r o m lo a n s a c ­

c o u n t e d f o r 5 5 p e r c e n t o f t h e t o t a l in c o m e o f c o m m e r c ia l b a n k s a n d b e t t e r 

t h a n t w o - t h ir d s o f t h e t o t a l i n c o m e o f m u t u a l s a v in g s b a n k s . S in c e 1 9 4 6 , 

t h e g r o w t h in in c o m e f r o m lo a n s o f in s u r e d c o m m e r c ia l b a n k s h a s r e ­

s u lte d in p a r t f r o m g r e a t e r lo a n v o lu m e a n d in p a r t f r o m r is in g r a t e s o n 

lo a n s .

H ig h e r y ie ld s a ls o a c c o u n t f o r t h e f a c t t h a t in c o m e r e c e iv e d b y in s u r e d 

c o m m e r c ia l b a n k s f r o m U n it e d S t a t e s G o v e r n m e n t o b lig a t io n s h a s r is e n 

s in c e t h e e n d o f W o r l d W a r I I , a lt h o u g h t h e r e h a s b e e n a d e c lin e in t h e

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Federal Reserve Bank of St. Louis
154 FEDERAL DEPOSIT INSURANCE CORPORATION

t o t a l v o l u m e o f s u c h a s s e ts . T a b l e 4 6 s h o w s , f o r s e le c t e d y e a r s s in c e 

1 9 3 4 , r a t e s o f in c o m e o n lo a n s a n d s e c u r it ie s , a s w e ll a s o t h e r o p e r a t in g 

r a t io s , f o r in s u r e d c o m m e r c ia l b a n k s a n d f o r in s u r e d m u t u a l s a v in g s 

b a n k s .

T a b le 4 6 . S e l e c t e d O p e r a tin g R a t io s o f I n s u r e d B a n k s in t h e U n ite d S t a t e s 

( C o n t in e n t a l U . S. a n d O t h e r A r e a s ), S e l e c t e d Y e a r s , 1934-1958

Item 1958 1952 1946 1940 1934

Insured comm ercial banks

Current operating expenses to current 

earnings.................................................. 66.02% 61.41% 61.57% 72.80% 73.38%

Current operating expenses other than 

interest on deposits to current earnings 49.78 52.12 52.19 60.49 53.45

Net current operating earnings to total 

assets...................................................... 1.26 1.06 .72 .66 .90

Average rate of income on loans............. 5.37 4.64 3.43 4.41 4.63

Average rate of income on U. S. Government obligations....................................

Average rate of income on other securities

2.48

2.61

1.80

2.04

1.49

2.34 } 2.16 3.17

Average interest paid on savings and 

time deposits.......................................... 2.21 1.15 .84 1.30 2.40

Net profits before income taxes to total 

assets...................................................... 1.30 .94 .81 .61 -.75

Net profits after income taxes to total 

capital accounts..................................... 9.60 8.07 10.01 6.08 -5.49

Dividends to total capital accounts........ 4.10 3.60 3.32 3.59 3.03

Retained profits to total capital accounts 5.51 4.47 6.69 2.46 -8.52

Insured m utual savings banks1

Current operating expenses to current 

income.................................................... 16.33 20.54 24.37 31.76 24.98

Net current operating income to total 

assets...................................................... 3.30 2.52 2.20 2.83 3.05*

Average rate of income on real estate 

loans........................................................ 4.48 4.08 4.58 } 4.55 / 4.46

Average rate of income on other loans... 5.18 4.73 4.55 \ 3.48

Average rate of income on U. S. Government obligations....................................

Average rate of income on other securities

2.66

3.83

2.43

3.05

2.26

3.46 } 3.93 4.09

Average dividends paid on savings and 

time deposits.......................................... 3.09 2.27 1.47 2.02 2.56

Net additions to surplus accounts to 

total surplus accounts........................... 5.18 2.98 12.93 -12.20 1.58

1 Because of changes in 1951 in the method of reporting, data for 1952 and 1958 are not strictly 

comparable with those for prior years.

a Computed from net current operating income after allowance for income taxes.

Note: Asset and liability items are averages of figures reported at beginning, middle, and end of

year.

R e c o v e r ie s f r o m a s s e ts c h a r g e d o ff, p r o f it s f r o m a s s e ts s o ld , a n d 

t r a n s fe r s f r o m r e s e r v e a c c o u n t s flu c t u a t e c o n s id e r a b ly f r o m y e a r t o y e a r , 

b u t w it h in r e c e n t y e a r s h a v e u s u a lly c o n t r i b u t e d o n l y a s m a ll e x t e n t t o 

t o t a l b a n k in c o m e . H o w e v e r , d u r in g t h e 1 9 3 0 ’ s a n d i n t o t h e 19 40*s t h is 

i n c o m e c o m p o n e n t w a s o f s ig n ific a n c e , a s r e c o v e r y f r o m t h e 1 9 2 9 -3 3 

d e p r e s s io n c o n t in u e d a n d a s r e a l e s t a t e v a lu e s im p r o v e d .

C h a n g e s i n u s e o f i n c o m e f r o m 1 9 3 4 t o 1 9 5 8 . S in c e 1 9 3 4 a b o u t 

t h r e e -fif t h s o f t o t a l i n c o m e h a s t y p i c a l l y b e e n u s e d t o m e e t t h e c u r r e n t 

o p e r a t in g e x p e n s e s o f in s u r e d c o m m e r c ia l b a n k s . T h i s r a t io fe ll s o m e -

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Federal Reserve Bank of St. Louis
INCOME OF INSURED BANKS 155

w h a t d u r in g t h e m id d le y e a r s o f t h e p e r io d , in p a r t b e c a u s e o f t h e d e c lin e 

in r a t e s p a id o n s a v in g s a n d t im e d e p o s it s a n d in p a r t b e c a u s e o f t h e 

a c c e le r a t e d g r o w t h in b a n k i n c o m e d u r in g t h e w a r y e a r s . H o w e v e r , in 

r e c e n t y e a r s in t e r e s t o n d e p o s it s h a s in c r e a s e d , a n d b e c a u s e o f t h is a n d 

o t h e r fa c t o r s c u r r e n t o p e r a t in g e x p e n s e s h a v e a g a in a b s o r b e d t h r e e - 

fift h s o f t o t a l in c o m e .

L o s s e s , c h a r g e -o ffs , a n d t r a n s fe r s t o r e s e r v e a c c o u n t s b y in s u r e d 

c o m m e r c ia l b a n k s , w h ic h in 1 9 3 4 a b s o r b e d 5 7 p e r c e n t o f t o t a l in c o m e , 

h a v e s in c e d e c lin e d c o n s i d e r a b l y in r e la t iv e im p o r t a n c e , t a k in g , in m o s t 

y e a r s s in c e W o r l d W a r I I , le s s t h a n 1 0 p e r c e n t o f t o t a l in c o m e . I n c o m e 

t a x e s , w h ic h t o o k o n l y a m in o r p a r t o f t o t a l i n c o m e in t h e 1 9 3 0 ’s, b e c a u s e 

o f b o t h lo w e r r a t e s a n d r e d u c e d p r o fit s , h a v e t y p i c a l l y r e q u ir e d fr o m 

1 0 t o 14 p e r c e n t o f t o t a l i n c o m e in r e c e n t y e a r s .

B e c a u s e o f t h e c h a r a c t e r o f t h e b u s in e s s o f m u t u a l s a v in g s b a n k s , 

t h e d is p o s it io n o f i n c o m e b y t h e s e b a n k s d iffe r s c o n s i d e r a b l y f r o m t h a t 

o f c o m m e r c ia l b a n k s . T h u s c u r r e n t e x p e n s e s o f in s u r e d m u t u a l s a v in g s 

b a n k s , w h ic h d o n o t i n c lu d e p a y m e n t s t o d e p o s it o r s f o r t h e u s e o f t h e ir 

fu n d s a s in t h e c a s e o f c o m m e r c ia l b a n k s , t y p i c a l l y a b s o r b b e t w e e n 15 

a n d 2 5 p e r c e n t o f t o t a l in c o m e . F o r in s u r e d m u t u a l s a v in g s b a n k s , 

d iv id e n d s a n d in t e r e s t o n d e p o s it s h a v e r a n g e d f r o m 3 0 t o 6 7 p e r c e n t o f 

t o t a l i n c o m e f o r t h e s e le c t e d y e a r s s h o w n in T a b l e 4 5 .

C h a n g e s i n n e t p r o f i t s o f i n s u r e d c o m m e r c i a l b a n k s f r o m 1 9 3 4 

t o 1 9 5 8 . N e t p r o f it s a f t e r t a x e s o f in s u r e d c o m m e r c ia l b a n k s h a v e u n d e r ­

g o n e c o n s id e r a b le c h a n g e d u r in g t h e p a s t 2 5 y e a r s . I n 1 9 3 4 in s u r e d 

c o m m e r c ia l b a n k s h a d a n e t lo s s o f $ 3 4 0 m illio n , d u e p r im a r ily t o e x ­

c e p t i o n a l ly h e a v y lo s s e s a n d c h a r g e -o f fs o n a s s e ts . I n e a c h s u b s e q u e n t 

y e a r t h e r e h a v e b e e n n e t p r o f it s a f t e r t a x e s , a n d o v e r t h e p e r io d a s a 

w h o le s u c h p r o f it s h a v e in c r e a s e d a s t o t a l a s s e ts h a v e g r o w n a n d a s 

o p e r a t in g r a t io s h a v e i m p r o v e d . H o w e v e r , t h e r e h a s b e e n c o n s id e r a b le 

a n n u a l v a r ia t io n in t h e a m o u n t o f n e t p r o f it s a f t e r t a x e s .

A f t e r e x c e e d in g $ 5 0 0 m illio n in 1 9 3 6 , n e t p r o f it s d r o p p e d m o r e t h a n 

2 5 p e r c e n t in 1 9 3 7 a n d b y o v e r 2 0 p e r c e n t in 1 9 3 8 ; t h e 1 9 3 6 le v e l w a s 

n o t r e a c h e d a g a in u n t il 1 9 4 3 . T h e 1 9 4 5 a n d 1 9 4 6 h ig h s o f a b o u t $ 9 0 0 

m illio n w e r e f o ll o w e d b y a d e c lin e a n d w e r e n o t e x c e e d e d a g a in u n t il 

1 9 5 0 . C h a r t I s h o w s c h a n g e s in t o t a l in c o m e a n d e x p e n s e s o f in s u r e d 

c o m m e r c ia l b a n k s a n d t h e r e s u lt in g v a r ia t io n s in n e t p r o fit s .

N o t w i t h s t a n d i n g t h e g r o w t h in n e t p r o f it s o f in s u r e d c o m m e r c ia l b a n k s 

s in c e 1 9 3 4 , t h e r a t io o f n e t p r o f it s t o t o t a l c a p it a l h a s s h o w n n o c o n s is t e n t 

i m p r o v e m e n t d u r in g t h e la s t 15 y e a r s . T h e r a t io o f n e t p r o f it s a f t e r 

t a x e s t o t o t a l c a p it a l a c c o u n t s r e a c h e d a h ig h o f 11 p e r c e n t in 1 9 4 5 , 

a f t e r w h ic h , w it h t h e e x c e p t i o n o f 1 9 5 4 a n d 1 9 5 8 , i t r e t u r n e d a p p r o x im a t e ­

l y t o t h e le v e ls w h ic h h a d p r e v a ile d in t h e e a r ly 1 9 4 0 ’s.

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156 FEDERAL DEPOSIT INSURANCE CORPORATION

W i t h o n l y o n e e x c e p t i o n p r io r t o 1 9 4 3 , d iv i d e n d s t o s t o c k h o l d e r s in 

e a c h y e a r t o o k a la r g e r p r o p o r t i o n o f n e t p r o f it s a f t e r t a x e s t h a n d id 

a d d it io n s t o c a p it a l a c c o u n t s . B e g in n in g w it h 1 9 4 3 t h e r e v e r s e h a s b e e n 

t r u e , a s in s u r e d c o m m e r c ia l b a n k s h a v e a d d e d s ig n if ic a n t ly t o t h e ir 

c a p it a l t h r o u g h r e t e n t io n o f e a r n in g s . I n m o s t r e c e n t y e a r s n e t p r o f it s 

a f t e r t a x e s h a v e b e e n d i v i d e d a lm o s t e q u a lly b e t w e e n a d d it io n s t o c a p it a l 

a n d d iv id e n d s t o s t o c k h o ld e r s .

Chart I. Income, Expenses, and Net Profits, Insured Commercial Banks

in the United States (Continental U. S. and Other Areas), 1934-1958

C h a n g e s i n i n c o m e , e x p e n s e s , a n d p r o f i t s d u r i n g 1 9 5 8 . D u r i n g 

1 9 5 8 t o t a l i n c o m e o f in s u r e d b a n k s , c o n s is t in g o f c u r r e n t o p e r a t in g 

e a r n in g s , r e c o v e r ie s , p r o f it s o n a s s e ts s o ld , a n d t r a n s fe r s f r o m r e s e r v e 

a c c o u n t s , in c r e a s e d b y $ 1 .3 b illio n , o r 1 4 p e r c e n t , o v e r 1 9 5 7 . F o r in s u r e d 

c o m m e r c ia l b a n k s , t o t a l i n c o m e o f $ 9 .4 b illio n in 1 9 5 8 w a s 1 4 p e r c e n t 

a b o v e t h e 1 9 5 7 le v e l, w h ile t h e $ 1 .2 b illio n i n c o m e o f in s u r e d m u t u a l 

s a v in g s b a n k s r e p r e s e n t e d a 13 p e r c e n t r is e o v e r t h e p r e v i o u s y e a r .

R e c o v e r i e s , p r o f it s f r o m a s s e ts s o ld , a n d t r a n s fe r s f r o m v a l u a t i o n 

r e s e r v e s c o n t r i b u t e d m o s t t o in c r e a s e d in c o m e o f in s u r e d c o m m e r c ia l 

b a n k s . D u r i n g t h e y e a r t h is c o m p o n e n t q u a d r u p le d in a m o u n t la r g e ly 

b e c a u s e o f p r o f it s o n s a le s o f s e c u r it ie s , a n d c o m p r is e d 9 p e r c e n t o f t o t a l 

i n c o m e d u r in g 1 9 5 8 , c o m p a r e d w it h 2 p e r c e n t in 1 9 5 7 . A l l o t h e r m a jo r 

i n c o m e s o u r c e s o f in s u r e d c o m m e r c ia l b a n k s a ls o s h o w e d g a in s , t h o u g h

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INCOME OF INSURED BANKS 157

n o t a ll e q u a lle d t h e r a t e o f in c r e a s e in t o t a l i n c o m e . I n c o m e f r o m lo a n s , 

t h e la r g e s t o f t h e i n c o m e s o u r c e s , w a s u p 3 p e r c e n t o v e r 1 9 5 7 . I n c o m e 

fr o m U n it e d S t a t e s G o v e r n m e n t o b lig a t io n s in c r e a s e d 7 p e r c e n t , a s t h e 

la r g e r a m o u n t h e ld m o r e t h a n o ffs e t lo w e r y ie ld s a s c o m p a r e d w it h a 

y e a r e a r lie r .

F o r in s u r e d m u t u a l s a v in g s b a n k s , i n c o m e f r o m r e a l e s t a t e m o r t g a g e 

lo a n s , w h ic h a c c o u n t s f o r a lm o s t a ll lo a n in c o m e a n d m o r e t h a n t w o - 

t h ir d s o f t o t a l i n c o m e , w a s u p 1 2 p e r c e n t d u r in g 1 9 5 8 . A m o n g o t h e r 

m a jo r in c o m e c o m p o n e n t s , in c o m e f r o m U n it e d S t a t e s G o v e r n m e n t 

o b lig a t io n s d e c lin e d b y a b o u t 3 .5 p e r c e n t , d u e p r im a r ily t o a n a lm o s t 

e q u iv a le n t p e r c e n t a g e d e c lin e in t h e v o l u m e o f s u c h a s s e ts h e l d ; in t e r e s t 

a n d d i v id e n d s o n o t h e r s e c u r it ie s in c r e a s e d 3 2 p e r c e n t ; a n d r e c o v e r ie s 

a n d s im ila r i n c o m e s h o w e d a g a in o f a b o u t 4 1 p e r c e n t .

A s w a s t h e c a s e d u r in g 1 9 5 7 , t h e c o n t in u in g r is e in in t e r e s t o n t im e 

a n d s a v in g s d e p o s it s p a id b y in s u r e d c o m m e r c ia l b a n k s w a s r e fle c t e d in 

a r e l a t iv e l y la r g e in c r e a s e in t h e p r o p o r t i o n o f t o t a l i n c o m e u s e d f o r t h is 

p u r p o s e . S u c h in t e r e s t p a y m e n t s w e r e u p 2 1 p e r c e n t d u r in g 1 9 5 8 , a 

g r e a t e r p e r c e n t a g e in c r e a s e t h a n s h o w n b y a n y o t h e r m a jo r c a t e g o r y o f 

c u r r e n t o p e r a t in g e x p e n s e s . L a r g e ly a s a r e s u lt o f t h is in c r e a s e , n e t 

c u r r e n t o p e r a t in g e a r n in g s o f in s u r e d c o m m e r c ia l b a n k s d e c lin e d s l ig h t ly 

d u r in g 1 9 5 8 . H o w e v e r , t h e s u b s t a n t ia lly g r e a t e r in c o m e f r o m p r o f it s 

o n a s s e ts s o ld , t o w h ic h r e fe r e n c e w a s m a d e e a r lie r , b r o u g h t n e t p r o f it s 

a f t e r i n c o m e t a x e s u p 2 4 p e r c e n t o v e r 1 9 5 7 , t o $ 1 .7 b illio n . A b o u t 5 7 

p e r c e n t o f t h is t o t a l w a s r e t a in e d b y in s u r e d c o m m e r c ia l b a n k s in t h e ir 

c a p it a l a c c o u n t s .

T h e d i s t r ib u t io n o f i n c o m e o f in s u r e d m u t u a l s a v in g s b a n k s d u r in g 

1 9 5 8 s h o w e d n o s ig n ific a n t v a r ia t io n fr o m 1 9 5 7 . C u r r e n t o p e r a t in g 

e x p e n s e s , t h e la r g e s t c o m p o n e n t o f w h ic h is s a la r ie s a n d w a g e s , w e r e u p 

7 p e r c e n t o v e r 1 9 5 7 . D i v i d e n d s a n d in t e r e s t o n d e p o s it s w e r e 13 p e r c e n t 

h ig h e r t h a n a y e a r p r e v i o u s l y , a b o u t t h e s a m e r a t e o f in c r e a s e a s in 

t o t a l in c o m e .

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P A R T F I V E

S T A T I S T I C S O F B A N K S A N D D E P O S I T I N S U R A N C E

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T a b l e 1 0 1 . C h a n g e s in n u m b e r a n d c la s s ific a t io n o f o p e r a t in g b a n k s a n d b r a n c h e s in t h e U n it e d 

S t a t e s ( c o n t in e n t a l U . S . a n d o t h e r a r e a s ) d u r in g 1 9 5 8

T a b l e 1 0 2 . N u m b e r o f o p e r a t in g b a n k in g o ffic e s in t h e U n it e d S t a t e s (c o n t i n e n t a l U . S . 

a n d o t h e r a r e a s ), D e c e m b e r 3 1 , 1 9 5 8 

G r o u p e d a c c o r d i n g to i n s u r a n c e s t a t u s a n d c l a s s o f b a n k , a n d b y S t a t e a n d t y p e

o f o ffic e

T a b l e 1 0 3 . N u m b e r o f c o m m e r c ia l b a n k s o p e r a t in g b r a n c h e s a n d n u m b e r o f b r a n c h e s in t h e 

U n i t e d S t a t e s (c o n t in e n t a l U . S . a n d o t h e r a r e a s ), J u n e 3 0 , 1 9 5 8

B a n k s o p e r a t i n g b r a n c h e s g r o u p e d a c c o r d i n g to c h a r a c te r o f b r a n c h s y s t e m a n d

b r a n c h e s g r o u p e d a c c o r d in g to l o c a t i o n o f b r a n c h a n d b y p o p u l a t i o n o f c e n te r i n

w h i c h lo c a te d a n d S t a te

T a b l e 1 0 4 . N u m b e r o f o p e r a t in g b a n k in g o ffic e s o f c o m m e r c ia l b a n k s in t h e U n it e d S t a t e s 

(c o n t in e n t a l U . S . a n d o t h e r a r e a s ), J u n e 3 0 , 1 9 5 8 

G r o u p e d a c c o r d in g to n u m b e r o f c o m m e r c i a l b a n k i n g o ffic e s i n c e n te r i n w h i c h

l o c a t e d a n d b y t y p e o f o ffic e a n d p o p u l a t i o n o f c e n te r i n w h i c h lo c a te d

T a b l e 1 0 5 . N u m b e r o f o p e r a t in g b a n k in g o ffic e s o f c o m m e r c ia l b a n k s in m e t r o p o li t a n a r e a s 

o f t h e U n it e d S t a t e s (c o n t in e n t a l U . S . a n d o t h e r a r e a s ), J u n e 3 0 , 1 9 5 8 

G r o u p e d a c c o r d i n g to t y p e o f o ffic e

T a b l e 1 0 6 . N u m b e r a n d d e p o s it s o f o p e r a t in g b a n k s in t h e U n it e d S t a t e s (c o n t in e n t a l U . S . 

a n d o t h e r a r e a s ), D e c e m b e r 3 1 , 1 9 5 8 

B a n k s g r o u p e d a c c o r d in g to i n s u r a n c e s t a t u s a n d b y d i s t r i c t a n d S t a te

T abu lation s fo r all operatin g banks are prepared in accordance w ith H ow ever, trust com panies engaged in general fiduciary business though

an agreem ent am on g the F ederal ban k supervisory agencies. Provision n ot in deposit banking are inclu d ed ; and credit unions and savings 

o f d eposit facilities fo r the general p u blic is the chief criterion for and loan associations are excluded ex cep t in the case o f a few which

distinguishing betw een banks and other typ es o f financial institutions, accept deposits under the term s o f special charters.

N u m b e r , O f f ic e s , a n d D e p o s it s o f O p e r a t i n g B a n k s

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
C o m m e r c ia l a n d s t o c k s a v in g s b a n k s include the follow in g 

categories o f ban kin g institutions:

N ation al ban ks;

In corp orated S tate banks, trust com panies, and bank and trust 

com panies, regularly engaged in the business o f receiving deposits, 

w hether dem and or tim e, ex cep t m utual savings banks;

S tock savings banks, including guaranty savings banks in N ew 

H am pshire;

Industrial and M orris P lan banks w hich operate under general 

banking codes, or are specifically authorized b y law to accept deposits and in p ra ctice d o so, or the obligations o f which are regarded 

as deposits fo r d eposit insurance;

Special typ es o f banks o f deposit: cash depositories in South 

C arolina; coop erativ e exchanges in A rkansas; a savings and loan 

com p a n y operatin g under Superior C ourt charter in G eorgia; 

govern m en t op erated banks in Am erican Sam oa, N orth D ak ota, 

and P u erto R ic o ; a coop erativ e bank, usually classified as a credit 

union, operatin g under a special charter in N ew H am pshire; tw o 

savings institutions, kn ow n as “ trust com panies,” operating under 

special charters in T ex a s; em p loy es’ m utual banking associations in 

P en n sylvan ia; the Savings B an ks T rust C om p an y in N ew Y o rk ; and 

fou r branches o f foreign banks w hich engage in a general deposit 

business in the continental U nited States or in Puerto R ico .

P rivate banks under S tate supervision, and such other private 

banks as are reported b y reliable unofficial sources to be engaged 

in d eposit ba n k in g;

N o n d e p o s it t r u s t c o m p a n ie s include institutions operating under 

trust com p a n y charters w h ich are n ot regularly engaged in deposit 

banking b u t are engaged in fiduciary business other than that incidental 

to real estate title or investm ent activities.

M u t u a l s a v in g s b a n k s include all banks operating under State 

banking codes applyin g to m utual savings banks.

I n s t it u t io n s e x c lu d e d . Institutions in the follow in g categories are 

excluded, though such institutions m ay perform m any o f the sam e 

fu nction s as com m ercial and savings banks:

B anks w hich have suspended operations or have ceased to accept 

new deposits and are p roceeding to liquidate their assets and p a y 

off existing d eposits;

B uilding and loan associations, savings and loan associations, 

credit unions, personal loan com panies, and sim ilar institutions, 

chartered under laws applyin g to such institutions or under general 

in corporation laws, regardless o f w hether such institutions are authorized to a ccep t deposits from the p u blic or from their m em bers 

and regardless o f w hether such institutions are called “ banks” (a 

few institutions accepting deposits under pow ers granted in special 

charters are in clu d ed );

M orris P lan com panies, industrial banks, loan and investm ent 

com panies, and sim ilar institutions except those m entioned in the 

description o f institutions included;

B ranches o f foreign banks, and private banks, w hich confine 

their business to foreign exchange dealings and d o n ot receive 

“ deposits” as that term is com m on ly un derstood;

Institutions chartered under banking or trust com pan y laws, bu t 

operating as investm ent or title insurance com panies and n ot engaged in deposit banking or fiduciary activities;

F ederal R eserve banks and other banks, such as the Federal H om e 

L oan banks and the Savings and L oan B ank o f the State o f N ew 

Y ork , w hich operate as rediscount banks and d o n ot accept deposits 

except from financial institutions;

T h e postal savings system .

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

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Federal Reserve Bank of St. Louis
T a b le 1 0 1 . C h a n g e s in N u m b er a n d C la s s if ic a t io n o f O p e r a tin g B a n k s a n d B r a n c h e s 

in t h e U n it e d S ta te s (C o n t in e n t a l U. S. a n d O t h e r A r e a s ) D u r in g 1958

Type of change

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks

Total Insured

Noninsured Total

Insured Noninsured

Total Insured2

Noninsured Total

1 Members F. R. 

System Not 

members 

F. R.

System

Banks 

of deposit

Nondeposit

trust

companies1 National State

BANKS

Number of banks, December 31, 1958....................................... 14,060

14,130

-70

96

92

4

166

8

1

152

5

13,365

13,404

-39

83

83

695

726

-31

13

9

4

10

5

13,540

13,607

-67

96

92

13,124

13,165

-41

83

83

4,578

4,620

-42

18

18

1,730

1,769

-39

2

2

6,816

6,776

+40

63

63

362

386

-24

13

9

4

8

5

54

56

-2

520

523

-3

241

239

+ 2

279

284

-5

Number of banks, December 31, 1957.......................................

Net change during year.............................................................

Banks beginning operations................................................

N gw banks...............................................................................

Financial institutions becoming banks of deposit.............. 4

Banks ceasing operations..................................................... 156 163

3

1

149

3

+34 

+ 2 

+31 

+ 1

153 66

1

30 57

2

1

51

3

+28

+ 2

+26

2 3 3

Suspended banks not reopened or succeeded...................... 8 I 3

Absorbed with financial aid of FD IC.................................. 1 1 

149 A 146 

5 8 3

Absorptions, consolidations, and mergers........................... 3

2

-34

-2

-31

-1

65 30 1

2

-29

-2

-26

-1

2 3 3

Other liquidations...................................................................

Noninsured banks becom ing insured............................... +29 

+ 2 

+26 

+ 1

+ 1 + 5 -5

Successors to noninsured banks............................................

Admission to insurance, operating banks............................ + 5 -5

Admission to F. R. System................................................... +1

-12

-3

+ 6

-15

Other changes in classification........................................... + 6

+ 7

+ 6

-4

-6

+15

+ 1

National banks succeeding state banks...............................

State banks succeeding national banks................................

Admissions to F. R. System.................................................

Withdrawal from F. R. System............................................ - 1

Changes not involving num ber in any class:

Succession................................................................................ 1

115

19

1 1

115

19

1

Changes in title, location, or name of location................... 115

19

115 H 42 28 45

Changes in corporate powers................................................. 19 19

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BRANCHES

Number of branches, December 31, 1958. 

Num ber o f branches, December 31, 1957.

Net change during year.

Branches opened for business........................................

Facilities provided as agents of the government*...........

Absorbed banks converted into branches.......................

Branches replacing head offices relocated or placed in

liquidation or receivership.............................................

Other branches opened......................................................

Branches added to count4..................................................

Branches discontinued......................................................

Facilities..............................................................................

Branches5.............................................................................

Other changes in classification among branches..........

Branch of national bank succeeding branch of state bank.

Branches of noninsured banks admitted to insurance.......

Branches of insured banks admitted to F. R. System. . . . 

Branches transferred as result of absorption or succession.

Changes not involving num ber in any class:

Branches transferred as result of absorption or succession.

Changes in title, location, or name of location..................

Change in powers...................................................................

ALL BANKING OFFICES

N um ber of offices, December 31, 1958. 

Number of offices, December 31, 1957.

Net change during year.

Offices opened.

Banks.............

Branches........

Offices closed.

Banks...........

Branches___

Changes in classification.

Among banks....................

Among branches...............

9,493

8,777

9,262

8,565

+716 1 +697

753

16

135

7

5 9 2

3

37

3

34

732

15

134

7

574

2

37

3

34

+2

+ 2

42

265

1

23,553

22,907

42

265

1

22,627

21,969

+646 1 +658

849

96

753

203

166

37

815

83

732

193

156

37

+36

+34

+2

231

212

+ 19

21

1

1

926

938

-12

34

13

21

10

10

-36

-34-2

9,068

8,372

+696

723

16

132

6

567

2

36

3

33

+ 9

+ 9

8,957

8,269

+688

715

15

131

6 I!

561

2

36 I 

3 

33 

+ 9

4,534

4,178

+356

384

11

69

1

302

1

20

3

17

-8

+ 1

+ 9

41 41 

264 | 264 

1 fl 1

22,608

21,979

+629

819

96

723

199

163

+ 9

22,081

21,434

+647

798

83

715

-9

30

143

9,112

8,798

+314

402

18

384

189 86

153 66 

36 20

+38

........H +29 |

+ 9 + 9

-2

+6

2,390

2,200

+ 190

154

2

41

4

106

1

13

13

+49

+ 16 

+33

4,120

3,969

+151

156

2

154

43

30

13

+38

-11

+49

+ 142

177

2

21

1

153

2,033

1,891

-16

-15

6

29

1

8,849

8,667

+182

240

63

177

60

57

+2

+34

-32

101

94

+ 7

463

480

-17

20

13

7

8

8

-29

-29

+ 1

1

10

9

425 

405 I

+20

30

945

928

+ 17

30

305

296

+ 9

17

1 1

251 13 

1

1

-7

+2

-9

546

535

+11

17

17

4

3

1

-2

+ 5 

-7

120

109

+ 11

13

12

1

-2

-2

399

393

+6

13

’ ‘ 13

-7

-5-2

1 Includes 1 trust company member Federal Reserve System, December 81, 1958, and December 31, 1957.

* Includes 3 mutual savings banks members of the Federal Reserve System, December 31, 1958, and December 31, 1957.

* Facilities established in or near military or other Federal Government installations at request of the Treasury or Commanding Officer of the installation.

4 Branches opened prior to 1958 but not included in count as of December 31, 1957.

6 Includes 1 branch discontinued prior to 1958 but included in count as of December 31, 1957.

O

CONUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N um ber o f O p eratin g B anking O ffic e s in th e U nited S ta tes (C o n tin en ta l U. S. and O th er A reas), D ecem ber 31, 1958

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

State and type of bank or office

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured1

Total Insured

Noninsured Total

Insured Noninsured

Total Insured*

Noninsured

All 

banks 

of deposit

Commercial

banks

of

deposit

Mutual

savings

Total banks

Members F. R. 

System Not

members

F.R.S.

Banks 

of deposit

Nondeposit

trust

com­ National panies2 State

United States—all offices............... 23,553 22,627 926 22,608 22,081 9,112 4,120 8,849 463 64 945 546 399 96.3 97.9 57.8

Banks................................................ 14,060 13,365 695 13,540 13,124 4,578 1,730 6,816 362 54 520 241 279 95.4 97.3 46.3

Unit banks.................................... 11,771 11,171 600 11,428 11,037 3,771 1,373 5,893 341 50 343 134 209 95.3 97.0 39.1

Banks o-perating branches............ 2,289 2,194 95 2,112 2,087 807 357 923 21 4 177 107 70 96.0 99.0 60.5

Branches........................................... 9,493 9,262 231 9,068 8,957 4,534 2,390 2,033 101 10 425 305 120 97.7 98.9 71.8

Continental U. S.—all offices....... 23,305 22,468 837 22,361 21,922 9,109 4,120 8,693 381 58 944 546 398 96.6 98.3 57.8

Banks................................................ 14,018 13,340 678 13,499 13,099 4,576 1,730 6,793 351 49 519 241 278 95.5 97.4 46.4

Unit banks..................................... 11,752 11,164 588 11,410 11,030 3,770 1,373 5,887 334 46 342 134 208 95.4 97.1 39.2

Banks operating branches............. 2,266 2,176 90 2,089 2,069 806 357 906 17 3 177 107 70 96.2 99.2 60.5

Branches........................................... 9,287 9,128 159 8,862 8,823 4,533 2,390 1,900 30 9 425 305 120 98.4 99.7 71.8

Other areas—all offices................... 248 159 89 247 159 3 156 82 6 1 1 65.7 66.0

Banks................................................. 42 25 17 41 25 2 23 11 5 1 1 67.6 69.4

Unit banks..................................... 19 7 12 18 7 1 6 7 4 1 1 46.7 50.0

Banks operating branches............. 23 18 5 23 18 1 17 4 1 81.8 81.8

Branches........................................... 206 134 72 206 134 1 133 71 1 65.4 65.4

State

Alabama—all offices........................ 301 301 301 301 124 28 149 100.0 100.0

Banks................................................ 239 239 239 239 69 24 146 100.0 100.0

Unit banks..................................... 219 219 219 219 53 22 144 100.0 100.0

Banks operating branches............. 20 20 20 20 16 2 2 100.0 100.0

Branches........................................... 62 62 62 62 55 4 3 100.0 100.0

Arizona—all offices.......... ............... 151 145 6 151 145 112 8 25 6 100.0 100.0

Banks................................................ 8 7 1 8 7 3 1 3 1 100.0 100.0

Unit banks..................................... s s 3 S 1 2 100.0 100.0

Banks operating branches............. 5 4 1 5 4 2 1 1 1 100.0 100.0

Branches........................................... 143 138 5 143 138 109 7 22 5 100.0 100.0

Arkansas—all offices........................ 272 267 5 272 267 64 23 180 4 1 98.5 98.5

Banks................................................ 237 232 5 237 232 55 20 157 4 1 98.3 98.3

Unit banks..................................... 209 204 5 209 204 49 18 137 4 1 98.1 98.1

Banks operating branches............. 28 28 28 28 6 2 20 100.0 100.0

Branches........................................... 35 35 35 35 9 3 23 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
California—all offices......................

Banks................................................

Unit banks.....................................

Banka operating branches.............

Branches...........................................

Colorado—all offices........................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Connecticut—all offices..................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Delaware—all offices........................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

District of Colum bia—ail offices..

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Florida—all offices...........................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Georgia—all offices..........................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Idaho—all offices..............................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Illinois—all offices............................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

1,581 9 1,590 1 1,581 1,157

119

5 124 119 46

66 3 69 66 29

53

2 55 53 17

1,462 4 1,466 1,462 1,111

163 24 187 163 81

157 24 181 157 77

151 2U 175 151 73 6 6 6 h 6 6 6 4

239 114 240 230 107

76 75 80 70 30

ho 59 U7 37 16

36 16 33 33

U

163 39 160 160 77

72 3 71 68

8

28

1 27 26 7

20 19 19 6 8 1 8 7 1

44 2 44 42

1

73 73 73 37

131

131

1315

12 12 12

5

60 60 60 32

288 5 293 288 113

275 5 280 275 103

262 5 267 262 93

13 13 13 10

13 13 13 10

432 54 486 432 98

356 54 410 356 52

333 5U 387 833 hi

23 23 23 11

76 76 76 46

109 109 109 76

28 28 28 9

20 20 20

5

8

8

8 \

U

81 81 81 67

944 6 950 944 399

940 6 946 940 895

936 6 u s 936 391 U 4 4 U 4 4 4 4

1,590

124

69

55

1,466

187

181

17566

353

151

99

52

202

75

29

209

46

73

131

12

60

293

280

267

13

13

486

410

387

23

76

109

28

208

81

950

946

U SU4

232

25

10

15

207

18

17

1611

6011S8

49

202

’ * * *

18

214

" ' v

17

12

1212

31

1385

18

168628

129

129

129

192

48

27

21

144

64

63

6211

63

29

18

11

34

40

17

13U

23

15413

11

163

160

1573

303

291

28h7

12

17

11926

416

416

ltl6

95324

n11

24

24

2k

1

999111113

71

52

19

9633

104

65

U9

16

42 1 3 39 4 1 4

2 8 2 1 1 1 1 1 1

2 1 2

3112 |||| 222 333 |1

54

54

5h

............. .............

333333

100.0

100.0

100.0

100.0

100.0

87.2

86.7

86.3

100.0 100.0

67.9

50.7 

Jt0.8

69.2

80.7

96.0

96.6 

100.0

88.9

95.7

100.0

100.0

100.0

100.0

100.0

99.3

99.3 

99.2

100.0

100.0

88.9

86.8

86.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.7

99.7

99.7

100.0 100.0

100.0 100.0

100.0

100.0 100.0

87.2

86.7

86.3

100.0 100.0

96.2

88.6

80.U

100.0 100.0

95.8

96.3 

100.0

87.5

95.5

100.0 100.0

100.0

100.0

100.0

99.3

99.3 

99.2

100.0

100.0

88.9

86.8

86.0

100.0

100.0

100.0 100.0

100.0

100.0

100.0

99.7

99.7

99.7

100.0

100.0

8.0

8.5

5.8

15.8

7.1

100.0

100.0

100.0

100.0 100.0

o

QJI NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N um ber op O p eratin g B anking O ffic e s in th e U nited S tates (C o n tin en ta l U. S. and O th er A reas), D ecem ber 31, 1958— Cont.

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

State and type of bank or office

All banks

Total Insured

Noninsured

Commercial and stock savings banks 

and nondeposit trust companies

Insured

Total

Total

Members F. R. 

System

National State

Not

members

F.R.S.

Noninsured

Banks 

of deposit

Nondeposit

trust

companies8

Mutual savings banks

Total Insured*

Noninsured

Percentage insured1

All 

banks 

of deposit

Commercial

banks

of

deposit

Mutual

savings

banks

Indiana—all offices............

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Iowa—all offices..................

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Kansas—all offices..............

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Kentucky—all offices.........

Banks..................................

Unit banks.......................

Banks operating branches

Branches..............................

Louisiana—all offices.........

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Maine—all offices...............

Banks...................................

Unit banks.......................

Banks operating branches, 

Branches..............................

711

463

862

101

248

833

670

5U9

121

163

607

593

580

18

14

476

360

sou

56

116

342 

186 

12U

62

156

210 II

87 | 

55 [ 

82

123

704

456

855

101

248

789

628

509

119

161

571

557

5UU

IS

14

465

349

293

56

116

341

185

123

62

156

183

71

UU

27

112

27

16

11

5

11

707

459

858

101

248

833

670

51*9 121

163

607 1

593 i 

580 I 

IS I 

14 1

476

360

SOU

56

116

342 

186 

12 U

62

156

17511

55 

25 1 

SO 1 120 |

700

452

851

101

248

789

628

509

119

161

571

557

5UU

18

14

465

349

298

56

116

341

185

128

62

156

158

49

2U

25

109

250

123

90

88

127

97

97

97

179

169

160

9

10

141

88

69

19

125

41

1922

84

67

29

18

11

147

109

9U

15

46

20

12

8

26

31

11

5

6

20

47

6

2

U

41

303

220

167

53

616

460

8U5

115

156

349

345

SU1u

4

278

241

212

29

37

185

133

99

SU

52

44

14

U

10

30

25

22

20

2

3

99.2

98.7

98.8

100.0

100.0

94.8

93.9

92.9

98.5

98.8

94.1

93.9

98.8

100.0 100.0

97.7

96.9 

96.U

100.0

100.0

99.7

99.5

99.2

100.0 100.0

87.1

81.6 

80.0

8U.U

91.1

99.2

98.7

98.8

100.0

100.0

94.8

93.9

92.9

98.3

98.8

94.1

93.9

98.8

100.0 100.0

97.7

96.9 

96.U

100.0 100.0

99.7

99.5

99.2

100.0

100.0

90.3 

89.1 

96.0

88.8

90.8

100.0 100.0

100.0

71.4

68.8

66.7

100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Maryland—all offices.........

Banks...................................

Unit banks.......................

Banks operating branches, 

Branches..............................

Massachusetts—all offices.

Banks...................................

Unit banks.......................

Banks operating branches,

Branches4............................

M ichigan—all offices.........

Banks...................................

Unit banks.......................

Banks operating branches, 

Branches..............................

M innesota—all offices.......

Banks...................................

Unit banks.......................

Banks operating branches, 

Branches..............................

Mississippi—all offices. . . .

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Missouri—all offices...........

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

M ontana—all offices..........

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Nebraska—all offices..........

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Nevada—all offices..............

Banks...................................

Unit banks.......................

Banks operating branches, 

Branches..............................

386

4 350 |1 34711 116

147 2 142 141 53

89 1 88 88 su

58

1 5 A 53 19

239

2 208 206 63

512 265 493 487 277

173 183 170 165 107

90 129 92 87 67

83 5U 78 78 uo

339 82 323 322 170

883 3 886 883 251

391 2 393 391 75

279

1 280 279 50

112 1 U S 112 25

492

1 493 492 176

683 10 692 682 185

677 10 686 676 179

675 10 68U 67 U 177 2 2 2 % 6 6 6 6

315 3 318 315 47

191 3 194 191 27

127

3 ISO 127

U

6U 6h 6U IS

124 124 124 20

599 18 617 599 77

595 18 613 595 75

591 18 609 591 73 U U h 2 4 4 4 2

115

1 116 115 42

114 1 115 114 41

113

1 UU U S 1*0

1 1 1 1 1 1 1 1

386 39 425 386 125

384 39 423 384 123

382 39 m 882 121

2 2 2

2

2

22

2

39 39 39 24

6 6 6 3 1 1 1 1

5 5

5

2

33 33 33 21

390

149

90

59

241

777

356

219

137

421

886

393

280

113

493

693

687

68526

318

194

ISO

6h

124

617

613

609U4

116

115

UU11

425

423

A2122

39615

33

75

1239

63

126

23h

19

103

383

150

112

38

233

30

30

30

218UU

13

99

97

9522

44

44U

17

17

17

102

156

76

51

25

80

84

35

16

19

49

249

166

117

U9

83

467

467

U67

247

156

109

U7

91

423

423

U23

29

29

29

244

244

2 U

14

14U

33

33

33

40 1 725

33

284

186

127

59

98

259

178 12 h

5U

81

99.0

98.7

98.9

98.3

99.2

65.9

48.6 

U1.1

60.6

80.5

99.8

99.7 

100.0

99.1

99.8

98.7

98.7

98.7

100.0

100.0

99.1

98.5

97.7

100.0

100.0

97.7

97.7

97.7

100.0

100.0

100.0

100.0

100.0

100.0

100.0

92.1

92.1 

92.0

100.0

100.0

100.0 100.0

100.0

100.0 100.0

99.1

99.3

100.0

98.1

99.0

98.8

97.1

9U.6

100.0

99.7

99.8

99.7 

100.0

99.1

99.8

98.7

98.7

98.7

100.0

100.0

99.1

98.5

97.7

100.0

100.0

97.7

97.7

97.7

100.0 100.0

100.0

100.0

100.0

100.0

100.0

92.1

92.1 

92.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

97.5

85.7

50.0

100.0

100.0

8.8

4.3

3

2.Ad

8.5

g

17.3

w&

100.0 100.0

100.0

aOFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N um ber o f O p eratin g B anking O ffic e s in th e U nited S ta tes (C o n tin en ta l U. S. and O th e r A reas), D ecem ber 31, 1958—Cont.

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

0500

State and type of bank or office

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks

Insured Noninsured

Total Insured

Noninsured Total

Total

Members F. R. 

System Not

memBanks 

of deposit

Nondeposit

trust

companies2

Total Insured8

Noninsured

National State

bers

F.R.S.

113 82 31 78 69 53 1 15 9 35 13 22

109 78 31 75 66 51 1 14 9 34 12 22

105 7U 31 72 63 U9 1 13 9 33 U 22

u u 3 3 2 1 1 1

4 4 3 3 2 1 1 1

670 667 3 629 626 381 174 71 3 41 41

283 280 3 262 259 167 55 37 3 21 21

157 15 U 3 1U5 1U2 97 2U 21 3 12 12

126 126 117 117 70 31 16 9 9

387 387 367 367 214 119 34 20 20

96 96 96 96 47 9 40

53 53 53 53 27 8 18

31 31 31 31 17 7 7

22 22 22 22 to 1 11

43 43 43 43 20 1 22

1,935 1,920 15 1,669 1,654 648 891 115 11 4 266 266

561 550 11 433 422 258 118 46 7 4 128 128

338 330 8 278 270 180 61 29 u u 60 60

223 220 3 155 152 78 57 17 3 68 68

1,374 1,370 4 1,236 1,232 390 773 69 4 138 138

615 611 4 615 611 132 65 414 4

203 202 1 203 202 43 4 155 1

112 112 112 112 17 1 9U

91 90 1 91 90 26 3 61 1

412 409 3 412 409 89 61 259 3

182 179 3 182 179 39 3 137 3

155 152 3 155 152 38 2 112 3

136 133 3 136 133 37 1 95 3

19 19 19 19 1 1 17

27 27 27 27 1 1 25

Percentage insured1

All 

banks 

of deposit

Commercial

banks

of

deposit

Mutual

savings

banks

New Hampshire—all offices

Banks....................................

Unit banka.........................

Banks operating branches.

Branches................................

New Jersey—all offices........

Banks....................................

Unit banks.........................

Banks operating branches. 

Branches...............................

New Mexico—all offices. . . .

Banks....................................

Unit banks.........................

Banks operating branches.

Branches................................

New York—all offices..........

Banks.....................................

Unit banks.........................

Banks operating branches. 

Brandies4..............................

North Carolina—all offices.

Banks.....................................

Unit banks.........................

Banks operating branches.

Branches...............................

North Dakota—all offices. .

Banks.....................................

Unit banks.........................

Banks operating branches.

Branches...............................

72.6

71.6 

70.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.4

98.7

98.8

98.7

99.7

99.3

99.5 

100.0

98.9

99.8

98.4 

98.1

97.8

100.0

100.0

88.5 

88.0

87.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.3

98.4

98.5

98.1

99.7

99.3

99.5

100.0

98.9

99.3

98.4

98.1

97.8

100.0

100.0

37.1

35.3

83.3

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Ohio—all offices..................

Banks...................................

Unit banks.......................

Banks operating branches.

Branches..............................

Oklahoma—all offices........

Banks...................................

Unit banks.......................

Banks operating branches.

Branches..............................

Oregon—all offices..............

Banks...................................

Unit banks.......................

Banks operating branches.

Branches4............................

Pennsylvania—all offices..

Banks...................................

Unit banks.......................

Banks operating branches.

Branches4............................

Rhode Island—all offices..

Banks...................................

Unit banks...................!.

Banks operating branches.

Branches..............................

South Carolina—all offices

Banks....................................

Unit banks.......................

Banks operating branches.

Branches..............................

South Dakota—all offices. .

Banks....................................

Unit banks.......................

Banks operating branches.

Branches..............................

Tennessee—all offices........

Banks...................................

Unit banks...................

Banks operating branches.

Branches..............................

Texas—all offices..................

Banks...................................

Unit banks.......................

Banks operating branches.

Branches..............................

1,173

1 1,1571} 1,1561I 494

608

1 606 605 228

u s 1 US U *\ 152

165 163 163 76

565 551 55i 266

395

7 402 395 209

380

7 387 380 197

S66

7 373 366 186

U u \ u \

U

15 15 15 12

219 2 220 218 154

54 2 55 53

U 37 2 38 36 9

17 17\ 17

2

165 165 165 143

1,449 16 1,414 1,398 869

737 13 743 730 485

558 11 566 555 377

179 2 177 175 108

712 3 671 668 384

120 4 94 91 52

14

3

9

7

4

h 2 2 1 1

10 1 7

6

3

106

1 85 84 48

265 7 272 265 116

137 7 144 137 25

101

7 108 101 11

36 36 36 1U

128 128 128

91

226 226 226 58

172 172 172 34

1 U 1 U 1U SO

28 28 28

4

54 54 54 24

474 7 481 474 181

291 7 298 291 75

228

7 235 22 8 51

63 63 63 2U

183 183 183 106

969 25 994 969 478

946 25 971 946 458

922 25 9U7 9U US7

U 2h

n 21

23 23 23 20

1,174

609 M

165

565

402

387

37 SU

15

221

56

39

17

165

1,465

750

569

181

715

124

176

11

107

272

144

108

86

128

226

172

1 U

28

54

481

298

285

68

183

994

971

9!>7

2U

23

375 287

1 17 1I 17 157 220 1 3 3

118 172 1 1

I

39 U8

2 I 

2

218 67 14 14

28 158

6

1

27 156 6 1

26 15 k

6

1

1 2 1 2

10 54 1 1 1

1

6 36 1 1

1

1

6 22 1 1 1

!

1 1U 4 18

276 253 13

3 51 51

78 167 10 3 7

7

U7 131 83

s

s

31 36 2

U

U

198 86 3 44 44

19 20 2

1 30 29 1

1 2 1 1

8 7 1

1 It

s

1

1 2 1 4. A

18 181 22 22

8 141

7

6 106 7 5 85 7

1 21 2 35

26 142

26 112

26 88

2U

30

25 268

4

3

8 208 4

3

5 172 u

3

3 36

17 60

120 371 25

117 371 25 m 371 25 83

99.9

99.8

99.8

100.0

100.0

98.5

98.4 

98.U

100.0

100.0

99.5

98.2

97.U

100.0

100.0

99.1

98.7

98.6

98.9

99.6

97.6

87.5

80.0

90.9

99.1

97.4

95.1

93.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.2

98.6

98.3

100.0

100.0

97.5

97.4 

97.U

100.0

100.0

99.9

99.8

99.8

100.0

100.0

98.5

98.4 

98.U

100.0

100.0

99.5

98.1

97.3

100.0

100.0

99.1

98.6

98.6

98.9

99.6

97.8

87.5 

100.0

85.7

98.8

97.4

95.1

93.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.2

98.6

98.3

100.0

100.0

97.5

97.4

974

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

96.7

87.5

75.0

100.0

100.0

CT>

CDNUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. Number of Operating Banking Offices in the United States (Continental U. S. and Other Areas), December 31, 1958—Cont. ^

grouped according to insurance status and class of bank, and by state and type of OFFICE °

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured1

Insured Noninsured

Commercial

banks

of

deposit

State and type of bank or office

Total Insured

Noninsured Total

Total

Members F. R. 

System Not

memBanks 

of deposit

Nondeposit

trust

companies8

Total Insured*

Noninsured

All

banks 

of deMutual

savings

banks

National State

bers

F.R.S.

posit

117 112 5 117 112 49 30 33 5 95.7 95.7

49 44 5 49 44 7 13 24 5 89.8 89.8

86

18

68

81 5 86 81 5 7 19 5 86.1 86.1

Batiks operating branches 18 18 18 2 6 5 100.0 100.0

Branches 68 68 68 42 17 9 100.0 100.0

Vermont—all offices . . . . 95 94 1 88 87 49 4 34 1 7 7 100.0 100.0 100.0

Banks .. .............................. 64 63 1 58 57 32 1 24 1 6 6 100.0 100.0 100.0

Unit banks . . . . 52 51 1 U7

11

U6

11

28 18 1 5 5 100.0 100.0 100.0

Banks operating branches 12

81

12 U 1 6 1 1 100.0 100.0 100.0

Branches .. . 31 30 30 17 3 10 1 1 100.0 100.0 100.0

Vlrdltilo-— 11 nflfi rofi 546

312

216

96

234

353

93

546

312

546 546 250 117 179 100.0 100.0

lRnnlrei 312 312 131 71 110 100.0 100.0

7T*t*/ h/T<M If si 216 216 216 92 5k 70 .......................... 100.0 100.0

96

234

96 96 89 17 uo

69

.......................... 100.0 100.0

T5i»q pliaa 234 234 119 46 100.0 100.0

W ashington—all offices 351 2 342 340 255 26 59 2 11 11 99.4 99.4 100.0

91 2 89 87 25 10 52 2 4 4 97.8 97.8 100.0

Unit banks • . . . . . . . . 71 69 2 69 67 1A 7 U6 2 2 2 97.2 97.1 100.0

P/f/M 1*q rs'YMYnit'nn TiYnvi^nP& 22 22 20 20 11 8 6 2 2 100.0 100.0 100.0

Branches4 . . . . . . . . 260 260 253 253 230 16 7 7 7 100.0 100.0 100.0

11 Affip^c 183

183

183

180 3 183 180 77 35 68 3 98.4 98.4

180 3 183 180 77 35 68 3 98.4 98.4

180 8 188 180 77 85 68 8 98.U 98.U

W isconsin—all offices...................... 708 702 6 704 699 113 71 515 2 3 4 3 1 99.6 99.7 75.0

Banks................................................. 556 550 6 552 547 97 63 387 2 3 4 3 1 99.5 99.6 75.0

Unit banks.............................. .. U65 459 6 U61 U56 92 59 805 2 8 h 8 1 99.U 99.6 75.0

P/y/mZ*o rtY/lWAnf>St 91

152

91 91 91 5 4 82 100.0 100.0

<Df*0 n nVi aq 152 152 152

16

8 128 100.0 100.0

federal deposit insurance c o r p o r a t io n

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
W yom ing—all offices....................... 53 53 53 53 26 14 13 100.0 100.0

Banks................................................. 52 52 52 52 25 14 13 100.0 100.0

Unit banks..................................... 51 51 51 51 2U

1

1U 18 100.0

100.0

100.0

Banks operating branches............. 1 1 1 1 100.0

Branches........................................... 1 1 1 1 1 100.0 100.0

Other area

Alaska—all offices6............................ 37 32 5 37 32 1 31 5 86.5 86.5

Banks................................................ 18 13 5 18 13 1 12 5 72.2 72.2

Unit banks..................................... 11 6 5 11 6 1 5 5

1 5-4.5

100.0

5U.5

Banks operating branches............. 7 7 7 7 7 100.0 n

Branches........................................... 19 19 19 19 19 | 100.0 100.0

American Samoa—all offices........ 1 1 1 1

Banks................................................ 1 1 1 1

Unit banks..................................... 1 1 1 1

Banks operating branches.............

Branches...........................................

Hawaii—all offices6........................... 78 10 68 78 10 10 62 6 13.9 13.9

Banks................................................ 10 3 7 10 3 3 2 5 60.0 60.0

Unit banks..................................... u 4 u h

Banks operating branches............. 6 s s 6 8 8 2 1 60.0 60.0

Branches........................................... 68 7 61 68 7 7 60 1 10.4 10.4

Mariana Islands—all offices.......... 3 2 1 3 2 2 1 66.7 66.7

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches4.......................................... 3 2 1 3 2 2 1 66.7 66.7

Panama Canal Zone—all offices.. 4 4 4 4

Banks.................................................

Unit banks.....................................

Banks operating branches.............

Branches4.......................................... 4 4 4 4

Puerto Rico—all offices................... 118 109 9 118 109 109 9 92.4 92.4

Banks................................................. 10 7 3 10 7

............

7 3 70.0 70.0

Unit banks..................................... 2 1 1 2 1 1 1 50.0 50.0

Banks operating branches............. 8 6 2 8 6 6 2 75.0 75.0

Branches4.......................................... 108 102 6 108 102 102 6 94.4 94.4

Virgin Islands—all offices.............. 7 6 1 6 6 2 4 1 1 85.7 100.0

Banks................................................. 3 2 1 2 2 1 1 1 1 66.7 100.0

Unit banks..................................... 1 1 1 1

Banks operating branches............. 2 2 2 2 1 1 100.0 100.0

Branches........................................... 4 4 4 4 1 3 100.0 100.0

1 Nondeposit trust companies are excluded in computing these percentages.

* Includes 1 trust company in Missouri member of the Federal Reserve System.

8 Includes 3 banks members of the Federal Reserve System: 1 in Indiana and 2 in Wisconsin.

4 Includes branches operated by banks located in other states or areas as follows: 1 noninsured branch in Massachusetts operated by a New York bank; 2 insured branches in New 

York operated by a Puerto Rico bank; 1 insured branch in Oregon operated by a California bank; 1 insured branch in Pennsylvania operated by a New Jersey bank and 1 noninsured >—1 

branch in Pennsylvania operated by a New York bank; 2 insured branches in Washington operated by a California bank; 2 insured branches and 1 noninsured branch in the Mariana 

Islands operated by a California bank; 4 noninsured branches in the Panama Canal Zone operated by 2 New York banks; and 13 insured branches in Puerto Rico operated by 2 New

York banks.

6 Includes 6 insured national banks not members of the Federal Reserve System.

8 Includes, among noninsured banks, 1 national bank operating 25 branches.

Back figures: See the Annual Report for 1957, pp. 86-93, and earlier reports.

NUM BER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b l e 1 0 3 . N u m b e r op C o m m erc ial B a n k s O p e r a t in g B r a n c h e s an d

N u m b e r o f B r a n c h e s in t h e U n ite d Sta t e s (C o n t in e n t a l U . S. a n d Ot h e r A r e a s ), J u n e 3 0 , 1 9 5 8

BANKS OPERATING BRANCHES GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM AND BRANCHES GROUPED 

ACCORDING TO LOCATION OF BRANCH AND BY POPULATION OF CENTER IN WHICH LOCATED AND STATE

<1

to

State or other area, 

or population of center

Total 

number 

of banks 

operating 

branches1

Number of banks operating branches* Branches

Within

head

office

city

only*

Within

head

office

county

Within

head

office

State4

Outside

head

office

State6

At Federal 

Government 

establishments 

only*

Total

number

of

branches

In

head

office

city

Elsewhere 

in head 

office 

county

Elsewhere 

in head 

office 

State

Outside

head

office

State

At Federal 

Government 

establishments7

491 1,035 426 7 87 8,686 3,058 2,488 2,857 26 257

491 1,034 408 6 86 8,500 3,045 2,481 2,720 8 246

1 18 1 1 186 13 7 137 18 11

17 6 137 89 48

I 2 129 61 2 1,173

1,509

1,558

1,249

1,177

1,076

535

3 770 399 1

19 321 80 12 33 745 731

168 284 83 28 306 570 680 2

149 181 78 30 597 254 390 8

96 81 67 2 13 898 43 226 10

41 19 36 2 2 952 10 111 3

16 3 15 3 269 7 257 2

272 15 257

6 11 1 2 61 28 15 12 6

4 131 26 32 67 6

4 19 4 1 33 4 23 5 1

6 23 23 2 1,422

6

267 149 968 38

6 6

8 17 7 149 48 68 32 1

1 2 4 43 12 18 12 1

13 58 53 5

13 13 13

11 8 4 74 51 1 14 8

3 5 80 5 5 69 1

4 4 4

25 71 2 235 123 108 4

83 37 162 119 43

5 2 85 3

Total United States1.

Continental United States. 

Other areas.............................

In centers with population ofLess than 250...................................

250 to 1,000......................................

1.000 to 5,000..................................

5.000 to 25,000................................

25.000 to 100,000___

100.000 to 500,000. . .

500.000 to 2,500,000.

2.500.000 or more. . . 

Not available8..........

State 

Alabama. . 

Arizona. . . 

Arkansas.. 

California. 

Colorado. .

2,046

2,025

21

23

194

432

563

438

259

100

37

Connecticut...............

Delaware...................

District of Columbia.

Florida........................

Georgia......................

Idaho... 

Illinois.. 

Indiana. 

Iowa. . . 

Kansas.

20

4

28

82

7 

13 

13 

23

8 

4

98 120

7

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.........

Louisiana.........

Maine...............

Maryland........

Massachusetts.

Michigan. . 

Minnesota. 

Mississippi. 

Missouri. . . 

Montana. ..

Nebraska...........

Nevada..............

New Hampshire.

New Jersey.........

New Mexico. . . .

New York.........

North Carolina. 

North Dakota. .

Ohio...................

Oklahoma..........

Oregon.............

Pennsylvania. . 

Rhode Island.. 

South Carolina. 

South Dakota. .

Tennessee. 

Texas. . . .

Utah.........

Vermont. . 

Virginia. ..

Washington. . . 

West Virginia. 

Wisconsin. . . . 

Wyoming. . . .

Other area

Alaska........................

Hawaii.......................

Mariana Islands. . . . 

Panama Canal Zone.

Puerto Rico..............

Virgin Islands...........

54 [, 

60 

30 

53 

74

104

2

60

4 

1

2

5

3

117

22

156

91

19

154

13

16

167

7

33 

28 |

62

25

13

10

91

19

22

22

1

10

26

20

2

13

2

50

29

36

18

26

47

57

28

3

2

10

12

1

26

17

2

1

4

45

34

1211

111 I

152

113

198

308 1

463

6

119 

4 

1

2

32

3

350

42

1,208 I

394

27

517

13

161 I

627 1 

81

120 

53

178 

24 

68 fl 

19 [

224

249

153

1

18

63

3

4

95 I 

3

67 38 3 3

91 49 8 4

22 49 38 4

81 51 52 14

165 139 1 1 2

260 138 64 1

6

35 51 30 3

2 2

1

1 1

8 3 20 1

2 1

145 197 1 7

22 11 4 5

455

113

333

69

404

207

2 14

5

1 14 12

284 216 14 3

8 5

30 14 116 1

233

23

240

31

144

26

2 8

1

32 19 63 6

24 28 1

101 55 16 6

3 21

13 13 37 5

9 10

i 136 32 39 17

| 67 41 133 2 6

| 19 107 26 1

1

5 3 4 6

7 53 3

1 2

4

1 1 4 77 13

3

2

Cl

K

w

a

w

1 Excludes trust companies not regularly engaged in deposit banking.

8 Each bank is reported^ once only, according to the widest area in which it operates branches.

* Includes 2 cases of cities which cover all or portions of 2 or more counties; New York (5 counties); and Atlanta (portions of 2 counties).

4 Includes banks operating offices in 2 or more counties other than the cases listed in note 3.

* Out-of-State branches are operated as follows: 1 bank in California operates 1 branch in Oregon and 2 branches in Washington; 1 bank in New Jersey operates 1 branch in Pennsylvania; 1 bank m New York operates 1 branch in Massachusetts and 1 branch in Pennsylvania; 1 bank in California operates 3 branches (including 2 facilities at Federal Government 

establishments) m the Mariana Islands; 2 banks in New York operate 13 branches in Puerto Rico and 4 branches in the Panama Canal Zone; and 1 bank in Puerto Rico operates 

2 branches m New York.

« Includes Army, Navy, and Air Force installations, Veterans Administration hospitals, and a few other Federal Government establishments. Banking offices in or near such establishments are operated by 183 banks, of which 96 also operate other branches.

7 Operated by the 183 banks referred to in note 6. These facilities are in or near military or other Federal Government establishments, provided at the request of the Treasury 

Department or Commanding Officer.

* Mobile units in Puerto Rico and facilities at Federal Government establishments.

COOFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
*<I

T a b le 1 0 4 . N u m b e r o f O p e r a t in g B a n k in g O ffices of C o m m e r c ia l B a n k s in t h e U n ite d St a t e s

(C o n t in e n t a l U. S. a n d Ot h e r A r e a s ), J u n e 3 0 , 1 9 5 8

GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH 

LOCATED AND BY TYPE OF OFFICE AND POPULATION OF CENTER IN WHICH LOCATED

Offices in centers with— Offices operated by—

All

banking

offices1

Insured banks

Population of center 1

banking

office

2

banking

offices

3

banking

offices

4

banking

offices

5

banking

offices

6

banking

offices

7 or 8 

banking 

offices

9 to 19 

banking 

offices

20 or 

more 

banking

Members F. R. 

System Not 

members 

F. R.

System

Noninsured

banks2 offices

National State

AI1 banking offices1........................ 22,204

706

9,971 4,438 1,476 728 460 396 529 1,264 2,942 8,934 4,058 8,740 472

In centers with population 

of—

Less than 250 704 2 41 29 568 68

250 to 1 000 4,730

6,106

4,392

2,248

1,782

1,305

663

4,509

3,843

640

206 15 1,012 466 3,104 148

1 000 to 5 000 2,076

1,990

132

171 16 2,481 888 2,641 96

5 000 to 25 000 1,002

285

424 185 72 79 2,341 752 1,237 62

25 000 to 100,000 ....................... 57 280 245 306 381 562 1,186 516 518 28

100 000 to 500 000 .......... 8 25 12 61 702 974 887 425 429 41

500 000 to 2 500 000 1,305

663

645 509 137 14

2 500 000 or more 152 444 56 11

Not available* 272 218 32 3 5 6 8 189 29 50 4

Unit banks...................................... 11,472 6,499 3,143 748 228 128 78 94 206 348 3,826 1,399 5,892 355

In centers with population 

of—

T,<mo than 2S0 546

3,363

4,165

2,271

561

544 2 23 23 433 67

250 to 1 000 3,207

2,476

267

152 4 605 330 2,295 133

1 000 to*5 000 1,606

1,327

56

78 5 1,575 554 1,968 68

5 000 to 25 000 510 116 41 3 7 1,173 323 738 37

25 000 to 100 000 ............ 5 156 107 83 65 58 31 274 75 196 16

100 000 to 500 000 . . . . 346 4 10 29 175 128 94 32 197 23

500 000 to 2 500 000 129

91

129 32 43 47 7

9 non nr mnrp 91 50 19 18 4

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
All offices of banks operating

branches...........................

In centers with population

of—

Less than 250.............................

250 to 1,000................................

1.000 to 5,000.............................

5.000 to 25,000...........................

25.000 to 100,000.......................

100.000 to 500,000.....................

500.000 to 2,500,000..................

2.500.000 or more......................

Not available8.............................

Head offices of banks operating

branches..............................

In centers with population

of—

Less than 250.................................

250 to 1,000....................................

1.000.to 5,000.................................

5.000 to 25,000...............................

25.000 to 100,000...........................

100.000 to 500,000.........................

500.000 to 2,500,000.....................

2.500.000 or more..........................

Branches.........................................

In centers with population

of—

Less than 250.................................

250 to 1,000....................................

1.000.to 5,000.................................

5.000 to 25,000...............................

25.000 to 100,000...........................

100.000 to 500,000.........................

500.000 to 2,500,000.....................

2.500.000 or more..........................

Not available3.................................

10,732

160

1,867

1,941

2,121

1,687

1,436

1,176

572

272

2,046

23

194

432

563

438

259

100

37

8,686

137

1,173

1,509

1,558

1,249

1,177

1,076

535

272

3,472 1,295 728 500 332 318 435 1,058 2,594

160

1,302 54 11

1,367

373

470 93 11

663 492 308 144 69 72

52 76 129 173 162 241 323 531

8 21 2 32 527 846

1,176

572

218 32 3 5 6 8

486

23

395 209 154 98 95 123 236 250

182 11 1

246 152 29 5

34 215 136 93 47 18 20

1 17 43 54 44 75 95 109

2 7 2 8 127 113

100

37

2,986 900 519 346 234 223 312 822 2,344

137

1,120

1,121

339

43 10

318 64 6

448 356 215 97 51 52

51 59 86 119 118 166 228 422

6 14 24 400 733

1,076

535

218 32 3 5 6 8

>,108 2,659 2,848 117

18 6 135 1

407 136 809 15

906 334 673 28

1,168 429 499 25

912 441 322 12

793 393 232 18

613 466 90 7

102 425 38 7

189 29 50 4

773 353 899 21

22 1

20 3 169 2

93 45 293 1

251 81 226 5

237 95 104 2

124 73 57 5

40 38 20 2

8 18 8 3

1,335 2,306 1,949 96

18 6 113

387 133 640 13

813 289 380 27

917 348 273 20

675 346 218 10

669 320 175 13

573 428 70 5

94 407 30 4

189 29 50 4

I

W

H

W

2

1 Excludes trust companies not regularly engaged in deposit banking.

3 Includes 5 noninsured branches of insured banks, as follows: 4 branches in Panama Canal Zone, of which 2 are operated by a national bank in New York and 2 by a State bank 

in New York, member of the Federal Reserve System; and 1 branch in Mariana Islands operated by a national bank in California.

* Includes 257 banking facilities in or near Federal Government establishments, provided at the request of the Treasury Department or Commanding Officer, and 15 mobile units 

in Puerto Rico. ■<!

Oi OFFICES, AND DEPOSITS OF OPERATING B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 0 5 . N u m b e r o f O p e r a tin g B a n k in g O f f i c e s o f C o m m e r cia l B a n k s in M e t r o p o l it a n 

A r e a s o f t h e U n it e d S ta te s (C o n t in e n t a l U. S. a n d O t h e r A r e a s ), J u n e 30, 1958

GROUPED ACCORDING TO TYPE OF OFFICE •<1

Metropolitan area1

All m etropolitan areas

New York, N. Y .4. . .

Chicago, 111.................

Los Angeles, Calif.4. .

Philadelphia, Pa.........

Detroit, Mich..............

Boston, Mass..............

San Francisco, Calif.4. 

Pittsburgh, Pa............

St. Louis, Mo..............

Cleveland, Ohio..........

Washington, D. C.. ..

Baltimore, Md............

Minneapolis, Minn.4. .

Buffalo, N. Y ..............

Milwaukee, Wis..........

Cincinnati, Ohio.........

Kansas City, Mo........

Houston, Texas..........

Providence, R. I ........

Seattle, Wash..............

Portland, Oreg............

Atlanta, Ga.................

New Orleans, La........

Dallas, Texas..............

Louisville, Ky.............

Denver, Colo..............

Birmingham, Ala........

San Diego, Calif.........

Indianapolis, Ind........

Youngstown, Ohio.. . .

Albany, N. Y .4...........

Columbus, Ohio...........

San Antonio, Texas..

Miami, Fla..................

Rochester, N. Y ........

Memphis, Tenn..........

San Juan, P. R ............

Dayton, Ohio............. .

Population 

of metropolitan 

area in 

1950 (in 

thousands)

86,511

12,912

5,495

4,368

3,671

3,016

2,370

2,241

2,213

1,681

1,466

1,464

1,337

1,117

1,089

957

904

814

807

737

733

705

695

685

615

577

564

559

557

552

528

514

503

500

495

488

482

466

457

Number of banking offices*

Total Unit

banks

8,830

1,257 1

246 

559 

357 

283

247 

331 

215 I

111

151

175

121

94

127

64

119

85

53

74

83

76

73

52

34

76

55

28

78

76

58

50

44

22

34

48

48

32

42

2,266

97

221

23

67

21

28

9

53

105

3

13

8

86

12

31

18

85

51

Banks

operating

branches

920

145

6

18

42

23

33

14 

17

4

9

36

15 

2 

4 

9

13

Branches*

5,644

1,015

19

518

248

239

186

308

145

2

139

126

98

6

111

24

88

55

4

20

74

68

31

34

28

2

2

42

39

27

24

Metropolitan area1

Erie, Pa.......................

Shreveport, La............

South Bend, Ind........

York, Pa......................

Stockton, Calif...........

Charlotte, N. C..........

Little Rock, Ark.4. . .. 

Stamford, Conn.4. 

Beaumont, Texas4. . .. 

El Paso, Texas...........

Evansville, Ind..........

Greensboro, N. C.4. .. 

Binghamton, N. Y . ..

Fort Wayne, Ind........

Lansing, Mich............

Columbus, Ga.............

Madison, Wis.............

Greenville, S. C..........

Corpus Christi, Texas 

Charleston, S. C........

Augusta, Ga................

Austin, Texas.............

Baton Rouge, La........

Waterbury, Conn.. . .

Saginaw, Mich............

Rockford, 111...............

Savannah, Ga............

Lorain, Ohio4..............

Hamilton, Ohio4.........

New Britain, Conn.4..

Winston Salem, N. C. 

Albuquerque, N. Mex.

Hampton, Va.4...........

Columbia, S. C..........

Jackson, Miss.............

Tucson, Ariz...............

Altoona, Pa.................

Montgomery, Ala.. . . 

New Bedford, Mass.. 

Fall River, Mass.. . . .

Population Number of banking offices*

m

in

(in

ids)

Total I Unit

banks

Banks

operating

branches

Branches*

219 31 1 7 7 17

217 35 1 3 8 24

205 25 | 6 5 14

203 44 1 18 7 19

201 21 1 2 18

197 36 R 5 4 27

197 13 1 5 4 4

196

195

43 | 

13 1

2

13

6 35

195 10 1 4 3 3

191 19 I 5 4 10

191 28 I 4 4 20

185 18 1 4 2 12

184 19 1 5 4 10

173 25 5 5 15

171 18 1 5 3 10

169 31 1 26 2 3

168 19 I 5 2 12

165 10 1 8 1 1

165 21 1 1 2 18

162 23 9 2 12

161 8 U 6 1 1

158 16 | 2 4 10

155 17 1 1 2 14

154

152

14

9 8

6

9

2 7

151 16 1 6 3 7

148 25 1 6 6 13

147 20 | 4 5 11

147 12 I

3 4 5

146 17 6 4 2 11

146 17 1. 3 14

143 15 I 4 4 7

143 24 | 5 2 17

142 22 1 4 3 15

141 18 i. 1 17

140 21 [ 8 4 9

139 10 I 2 2 6

137 6 8 1 2 2

137 6 1 2 1 3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
San Bernardino, Calif.4

Norfolk, Va.4..............

Allentown, Pa.4..........

Akron, Ohio................

Tampa, Fla.4..............

Springfield, Mass.4. . .

Toledo, Ohio...............

Wilkes-Barre, Pa.4. . ..

Omaha, Nebr..............

Fort Worth, Texas. . .

Hartford, Conn...........

Wheeling, W. Va.4. . . 

Honolulu, Hawaii. . . .

Syracuse, N . Y ............

Knoxville, Tenn..........

Phoenix, Ariz..............

Richmond, Va.............

Oklahoma City, Okla. 

Charleston, W. V a ., . 

Nashville, Tenn..........

Jacksonville, Fla........

Harrisburg, Pa............

Johnstown, Pa............

San Jose, Calif............

Grand Rapids, Mich..

Utica, N. Y .4..............

Canton, Ohio. . . . . . . .

Sacramento, Calif........

Fresno, Calif...............

Worcester, Mass..........

Tacoma, Wash.. . . . . .

Salt Lake City, Utah.

Flint, Mich..................

Wilmington, Del.........

New Haven, Conn.. . 

Bridgeport, Conn.. . .

Scranton, Pa...............

Reading, Pa..................

Duluth, Minn.4..........

Tulsa, Okla.................

Peoria, 111....................

Chattanooga, Tenn.. . 

Huntington, W. Va.4. .

Lancaster, Pa..............

Davenport, Iowa.4. . . .

Mobile, Ala.................

Trenton, N. J........

Des Moines, Iowa. . . .

Wichita, Kans.............

Spokane, Wash.............

452

446

438

410

409

407

396

392

366

361

358

354

353

342

337

332

328

325

322

322

304

292

291

291

288

284

283

277

277

276

276

275

271

268

265

258

257 

256

258 

252

251

246

246

235

234

231

230

226 222 222

79 ||

44

62

23

29

43 

33 

47 I 

36 

26

36 

47 |

41

42

30 

58 

42 

32

19 

40 n

15

52

44 

68

51

37

30

35 

37

20

27

37

38

45 21 22

27

36

37 

19

29

27

18

52

24 

13

31 

19 

19 

29

Raleigh, N. C...............

Lowell, Mass.. . . . . . . .

Macon, Ga....................

Roanoke, Va.................

Atlantic City, N. J .. . .

Springfield, 111..............

Waco, Texas................

Brockton, Mass............

Ponce, Puerto R ico.. . . 

Kalamazoo, M ich.. . .,

Lawrence, Mass...........

Asheville, N. C............

Portland, Maine..........

Lincoln, N ebr.............

Orlando, Fla.................

West Palm Beach, Fla,

Galveston, Texas.........

Springfield, Ohio..........

Racine, Wis.'................

Jackson, Mich..............

Topeka, Kan................

Terre Haute, Ind.........

Springfield, M o............

Cedar Rapids, Iowa. . .

Sioux City, Iowa..........

Durham, N. C..............

Lubbock, Texas...........

Lexington, Ky..........

Waterloo, Iowa............

Decatur, 111..................

Wichita Falls, Texas. ,

Green Bay, Wis............

Santa Barbara, Calif..,

St. Joseph, M o ...........

Gadsden, Ala................

Muncie, Ind..............

Pueblo, Colo.................

Bay City, Mich............

Manchester, N .H ...., 

Lima, Ohio...................

Mayaguez, P. R .........

Amarillo, Texas..........

Ogden, Utah...............

Kenosha, Wis.............

Dubuque, Iowa............

Sioux Falls, S. D ak.. .

Pittsfield, Mass............

Fort Smith, Ark...........

San Angelo, Texas.......

Laredo, Texas..............

136 28 |1 2 8 23

136 7 1 1 5

135 11 5 1 5

133 17 2 3 12

132 28 4 2 17

131 13 13

130 13 12 1

129 14 1 3 10

127 4 2 2

127 19 1 4 14

126 14 2 12

124 17 2 2 13

120 21 5 16

120 14 12 1 1

115 12 8 2 2

115 15 13 1 1

113 9 9

112 14 2 4 8

110 13 9 2 2

108 13 3 2 8

105 12 9 1 2

105 7 2 2 3

105 7 7

104 18 13 3 2

104 21 14 3 4

102 19 2 4 13

101 9 5 2 2

101 13 2 4 7

100 9 7 1 1

99 10 10

98 8 6 1 1

98 16 14 1 1

98 17 1 1 15

97 11 11

94 7 7

90 13 3 3 7

90 4 4

88 12 3 2 7

88 6 6

88 11 4 2 5

87 6 6

87 6 4 1 1

83 11 1 3 7

75 4 4

71 11 10 1

71 15 7 4 4

67 7 3 2 2

64 8 4 2 2

59 3 3

56 3 1 1 1

1 Includes all areas defined and listed as “ standard metropolitan areas” by the Executive Office of the President, Bureau of the Budget, January 15, 1957. Each standard 

metropolitan area consists of an entire county or group of contiguous counties (except in New England where areas follow town lines), in one or more States, which contains at least 

one city of 50,000 or more inhabitants. The concept is one of an integrated economic unit, essentially metropolitan in character.

2 Excludes trust companies not regularly engaged in deposit banking.

8 Includes 148 facilities operated in or near military or other Federal Government establishments.

* Title incomplete. The full title of a standard metropolitan area may include the names of up to three cities, e.g., Davenport, Iowa—Rock Island—Moline, Illinois.

OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 0 6 . N u m b e r a n d D e p o s it s o f O p e r a t in g B a n k s in t h e U n ite d S t a t e s ( C o n t in e n t a l U. S. a n d O t h e r A r e a s ), D e c e m b e r 31, 1958

b a n k s g r o u p e d a c co rd in g to in su r a n c e sta tu s an d b y d is t r ic t a n d s ta te

FDIC District 

and State

Number of banks

All

banks1

Commercial and stock savings 

banks and nondeposit 

trust companies

Total Insured

Noninsured

Banks 

of depost1

Nondeposit

trust

companies

Mutual savings banks

Total Insured

Noninsured

Deposits (in thousands of dollars)

<100

Commercial and stock savings 

banks and nondeposit 

trust companies

All

banks

Total Insured Noninsured

Mutual savings banks

Total Insured Noninsured

Total United 

States.............

Continental U. S ..

Other areas...........

FDIC District

District 1.................

District 2*................

District 3 .................

District 4 .................

District 5.................

District 6 .................

District 7.................

District 8 .................

District 9 .................

District 10...............

District 11...............

District 123..............

State

Alabama..................

Arizona....................

Arkansas..................

California................

Colorado..................

Connecticut.............

Delaware.................

District of Columbia

Florida.................

Georgia................

Idaho..................

Illinois................

Indiana................

Iowa.....................

Kansas.................

14,060

14,018

42

784

886

1,359

1,004

1,123

1,508

1,412

1,616

1,129

1,636

1,218

385

239

8

237

124

181

151

29

13

280

410

28

946

463

670

593

13,540

13,499

41

447

734

1,349

997

1,123

1,508

1,404

1,616

1,128

1,636

1,218

380

239

8

237

124

181

80

27 

13

280

410

28 

946 

459 

670 

593

13,124

13,099

25

414

716

1,335

985

1,061

1,467

1,390

1,568

1,114

1,530

1,191

353

239

7

232

119

157

70

26

13

275

356

28

940

452

628

557

362

351

11

11

1112

59

33

9

44

12

99

26

16

4

'24

520

519

1

337

152

10

7

241

241

61

151

10

279

278

1

276

1

65

251,331,512 217,291,177 215,168,651 

250,035,570 I 215,995,412 214,463,844 

1,295,942 1 1,295,765

18,752,411

71,856,473

26,428,226

12,376,958

10,399,566

12,415,282

17,133,434

19,991,834

6,658,957

8,737,526

16,065,127

30,515,718

1,951,318 

1,036,333 

1,164,293 

22,787,576 

1,874,708 I

4,565,931

789,517

1,503,733

4,498,426

2,717,738

637,596

16,845,295

4,555,574

3,146,539

2,255,864

9,803,517

50,320,483

24,218,109

11.810.019 

10,399,566 

12,415,282 

17,054,463 

19,991,834

6,357,232

8,737,526

16,065,127

30.118.019

1,951,318

1,036,333

1,164,293

22,787,576

1,874,708

2,308,998

646,805

1,503,733

4,498,426

2,717,738

637,596

16,845,295

4,499,502

3,146,539

2,255,864

704,807

9,583,242

49,721,120

24,174,281

11,649,252

10,362,316

12,371,498

17,025,563

19,880,725

6,226,427

8,658,871

15,985,163

29,530,193

1,951,318

1,029,959

1,161,916

22,787,481

1,864,167

2,277,396

641,159

1.503.733 

4,486,017

2.701.733

637,596

16,808,860

4,493,560

3,071,865

2,226,943

2,122,526

1,531,568

590,958

220,275

599,363

43,828

160,767

37,250

43,784

28,900

111,109

130,805

78,655

79,964

587,826

34,040,335 I 27,276,690 

34,040,158 | 27,276,690 

177

8,948,894

21,535,990

2,210,117

566,939

78,971

301,725

397,699

6,374

2,377

95

10,541

31,602

5,646

2,256,933

142,712

12,409

16,005

36,435

5,942

74,674

28,921

56,072

2,191,392

21,535,813

2,210,117

561,616

6,763,645

6,763,468

177

6,757,502

177

5,323

78,328 643

301,725

897,699

156,669

142,712

2,100,264

56,072

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.........

Louisiana.........

Maine...............

Maryland.........

Massachusetts.

Michigan... 

Minnesota., 

Mississippi. 

Missouri. . . 

Montana. ..

Nebraska...........

Nevada..............

New Hampshire.

New Jersey........

New M exico....

New York..........

North Carolina. 

North Dakota. .

Ohio...................

Oklahoma..........

Oregon. . . . . . . .

Pennsylvania. . 

Rhode Island. . 

South Carolina. 

South Dakota..

Tennessee.

Texas........

Utah.........

Vermont. . 

Virginia. ..

Washington... 

West Virginia. 

Wisconsin. . . . 

Wyoming.......

Other area

Alaska......................

American Samoa. . .

Hawaii.....................

Mariana Islands4. .. 

Panama Canal Zone4

Puerto Rico4............

Virgin Islands.........

360

186

87

149

356

393

687

194

613

115

423

6

109

283

53

561

203

155

609

387

56

750

17

144

172

298

971

49

64

312

93

183

556

52

10

360

186

55

142

170

393

686

194

613

115

423

6

75

262

53

433

203

155

606

387

55

743

9

144

172

298

971

49

58

312

183

552

52

349

185

49

141

165

391

676

191

595

114

384

6

66

259

53

422 202

152

605

380

53

730

7

137

172

291

946

44

57

312

87

180

547

52

32

7

186

128 128

10

1

178

2,243,851

2,802,600

1,003,714

2,870,765

10,542,489

8,190,054

4,354,672

1,232,084

5,956,493

812,889

1,660,878

375,074

864,162

7,939,548

667,916

62,624,803

2,711,492

764,018

10,897,381

2,546,624

1,999,319

15,530,845

1,289,290

951,208

727,378

3,050,645

11,558,278

914,310

486,825

3,116,232

3,008,506

1,223,528

4,387,806

399,452

180,496

1,782

569,662

21,786

19,611

480,148

22,457

2,243,851

2,802,600

628,372

2,303,826

5,255,725

8,190,054

4,052,947

1,232,084

5,956,493

812,889

1,660,878

375,074

383,544

6,661,602

667,916

42,509,648

2,711,492

764,018

10,579,394

2,546,624

1,958,738

13,638,715

846,234

951,208

727,378

3,050,645

11,558,278

914,310

380,644

3,116,232

2,651,388

1,223,528

4,364,907

399,452

180,496

1,782

569,662

21,786

19,611

480,148

22,280

2,233,283

2,801,907

592,802

2,184,114

5,162,931

8,171,965

4.042.008 

1,223,248 

5,932,719

812,889

1,626,055

375,074

350,209

6,661,445

667,916

41,958,725

2,686,390

644,152

10,577,436

2,542,254

1.949.009 

13,596,845

819,260

946,846

727,378

3,043,580

11,485,381

909,361

380,644

3,116,232

2,626,656

1,211,937

4,360,038

399,452

157,595

‘ 66,414 

21,007

437,511

22,280

10,568

693

35,570

119,712

92,794

18,089

10,939

8,836

23,774

34,823

33,335

157

550,923

25,102

119,866

1,958

4,370

9,729

41,870

26,974

4,362

7,065

72,897

4,949

24,732

11,591

4,869

22,901

1,782

503,248

779

19,611

42,637

375,342

566,939

5,286,764

301,725

480,618

1,277,946

20,115,155

317,987

40,581

1,892,130

443,056

106,181

357,118 

* 22,899

177

279,360

561,616

958,261

301,725

279,768

1,277,946

20,115,155

317,987

40,581

1,892,130

411,153

106,181

357,118

22,256

95,982

5,323

4,328,503

200,850

31,903

643

177

» Includes 26 noninsured banks of deposit (6 in Colorado, 16 in Georgia, 1 in Iowa, and 3 in Texas) for which deposits are not available.

* Includes Puerto Rico and the Virgin Islands.

* Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone. ^

• rS Includes deposit data for the following branches of insured banks in continental United States; 2 insured branches and 1 noninsured branch in the Mariana Islands (2 insured CO 

m Guam and 1 noninsured in Saipan); 4 noninsured branches in the Panama Canal Zone; and 13 insured branches in Puerto Rico. Data for these branches are not included in the 

figures for the States in which the parent banks are located.

Back figures: See the Annual Report for 1957, pp. 100-101, and earlier reports.

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
A sse t s a n d L ia b il it ie s o f O p e r a t in g B a n k s

Table 108.

Table 109.

Table 110.

Table 111.

Table 107. Assets and liabilities of operating banks in the United States (continental U. S.

and other areas), June 23, 1958

Banks grouped according to insurance status and type of bank

Assets and liabilities of operating banks in the United States (continental U. S.

and other areas), December 31, 1958

Banks grouped according to insurance status and type of bank

Assets and liabilities of operating banks in the United States (continental U. S.

and other areas), December 31, 1958

Banks grouped by district and State

Assets and liabilities of operating insured banks in the United States (continental

U. S. and other areas), December 31, 1958, June 23, 1958, and December 31, 1957

Distribution of insured commercial banks operating in the United States (continental U. S. and other areas), December 31, 1958

Banks grouped according to amount, of deposits and by ratios of selected items to assets

The data in these tables relate to banks operating in the United 

States (continental U. S. and other areas). Data from the same tabulations for all operating banks in each State and other area are also 

shown in the Corporation’s publication, “Assets, Liabilities, and 

Capital Accounts, Commercial and Mutual Savings Banks,” as follows:

For June 23, 1958 

For December 31, 1958

Report No. 49, pp. 4-5. 

Report No. 50, pp. 4-5.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Statements of assets and liabilities are submitted by insured commercial banks upon either a cash or an accrual basis, depending upon 

the bank’s method of bookkeeping. Assets reported represent aggregate 

book value, on the date of call, less valuation and premium reserves.

Assets and liabilities held in or administered by a savings, bond, 

insurance, real estate, foreign, or any other department of a bank, 

except a trust department, are consolidated with the respective assets 

and liabilities of the commercial department. “Deposits of individuals, 

partnerships, and corporations’ ’ include trust funds deposited by a trust 

department in a commercial or savings department. Other assets held 

in trust are not included in statements of assets and liabilities.

In the case of banks with one or more domestic branches, the assets 

and liabilities reported are consolidations of figures for the head office 

and all domestic branches. In the case of a bank with foreign branches, 

net amounts due from its own foreign branches are included in “ Other 

assets/5 and net amounts due to its own foreign branches are included 

in “ Other liabilities.” Branches outside the continental United States 

of insured banks in the United States are treated as separate entities 

but as in the case of other branches are not included in the count of 

banks. Data for such branches are not included in the figures for the 

States in which the parent banks are located.

Demand balances with and demand deposits due to banks in the 

United States, except private banks and American branches of foreign 

banks, exclude reciprocal interbank deposits. Reciprocal interbank 

deposits arise when two banks maintain deposit accounts with each 

other.

Individual loan items are reported gross instead of net of valuation 

reserves. Accordingly, reserves for losses on loans are shown separately.

Instalment loans are ordinarily reported net if the instalment payments are applied directly to the reduction of the loan. Such loans are 

reported gross if, under contract, the payments do not immediately 

reduce the unpaid balances of the loan but are assigned or pledged to 

assure repayment at maturity.

Total deposits shown in these tables are not the same as the deposits 

upon which assessments paid to the Federal Deposit Insurance Corporation are based. The assessment base is slightly lower due to certain 

exclusions which are permitted and deductions which may be claimed.

Asset and liability data for noninsured banks are tabulated from 

reports pertaining to the individual banks. In a few cases these reports 

are not as detailed as those submitted by insured banks, and some of 

the items reported have been allocated to more detailed categories 

according to the distribution of asset and liability data for insured 

State banks not members of the Federal Reserve System or for other 

noninsured banks.

Sources of data

National banks and State banks in the District of Columbia not 

members of the Federal Reserve System: Office of the Comptroller of 

the Currency.

State banks members of the Federal Reserve System: Board of 

Governors of the Federal Reserve System.

Other insured banks: Federal Deposit Insurance Corporation.

Noninsured banks: State banking authorities; and reports from 

individual banks.

ooASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK 

(Amounts in thousands of dollars)

Table 107. A s s e t s a n d L i a b i l i t i e s o f O p e r a t i n g B a n k s in t h e U n it e d S t a t e s ( C o n t i n e n t a l U. S. a n d O t h e r A r e a s ) , J u n e 23, 19581

00

to

Asset, liability, or capital account item

All banks

Total Insured Noninsured

Commercial and stock savings banks and 

nondeposit trust companies

Total Insured

Noninsured

Banks

of

deposit

Nondeposit

trust

companies2

Mutual savings banks

Total Insured Noninsured

Total assets..............................................................

Cash, balances with other banks, and cash

collection items—total.............................

Currency and coin.............................................

Reserve with F. R. banks (member banks). .

Demand balances with banks in U. S.............

Other balances with banks in U. S.................

Balances with banks in foreign countries. . . . 

Cash items in process of collection..................

Securities— total.................................................

U. S. Gov’t, obligations (incl. guaranteed).. .

Obligations of States and subdivisions...........

Other bonds, notes, and debentures...............

Corporate stocks................................................

Loans and discounts, net— total...................

Valuation reserves.................................................

Loans and discounts, gross—total................

Real estate loans—total...................................

Secured by farm land......................................

Secured by residential 'properties:

Insured by F H A ........................................

Insured or guaranteed by V A ....................

Not insured or guaranteed by F H A or V A .

Secured by other properties.............................

Loans to banks...................................................

Loans to brokers and dealers in securities___

Other loans for carrying securities..................

Loans to farmers directly guaranteed by the

Commodity Credit Corporation..................

Other loans to farmers (excl. real estate). . . .

Commercial and industrial loans.....................

Other loans to individuals................................

All other loans (including overdrafts).............

Miscellaneous assets—total............................

Bank premises owned, furniture and fixtures.

Other real estate—direct and indirect............

Alljother miscellaneous assets..........................

265,860,540 255,644,704 10,215,836 229,182,168 226,623,672 2,373,678 184,818 36,678,372 29,021,032 7,657,340

44,627,642

3,182,848

18,569,796

11,502,186

276,133

109,529

10,987,150

44,074,824

3,108,164

18,569,796

11,088,858

273,920

105,691

10,928,395

552,818

74,684

413 ,*328

2,213

3,838

58,755

43,711,269

3,075,705

18,568,324

10,928,635

77,298

109,529

10,951,778

43,329,670

3,027,621

18,568,324

10,645,438

76,741

105,691

10,905,855

351,058

47,021

’257,617

458

2,703

43,259

30,541

1,063

25,580

99

1,135

2,664

916,373

107,143

1,472

573,551

198,835

' 35,372

745,154

80,543

1,472

443,420

197,179

’ 22,540

171,219

26,600

130,131

1,656

’ 12,832

97,759,376

71,879,488

16,506,572

7,990,067

1,383,249

93,131,074

68,825,949

16,129,921

7,200,701

974,503

4,628,302

3,053,539

376,651

789,366

408,746

84,722,454

64,462,541

15,788,514

3,938,483

532,916

83,394,046

63,592,396

15,502,404

3,812,313

486,933

1,222,811

822,609

256,119

123,724

20,359

105,597

47,536

29,991

2,446

25,624

13,036,922

7,416,947

718,058

4,051,584

850,333

9,737,028

5,233,553

627,517

3,388,388

487,570

3,299,894

2,183,394

90,541

663,196

362,763

118,480,397

2,066,506

120,546,903

46,029,292

1,495,947

9,998,868

11,549,804

15,770,549

7,219,624

1,701,570

3,699,356

1,974,241

415,754

4,154,149

39,205,223

20,454,673

2,912,645

113,619,388

2,039,080

115,658,468

41,754,300

1,463,508

9,466,236

10,320,571

13,712,664

6,791,321

1,697,415

3,677,152

1,932,756

407,447

4,104,780

38,974,022

20,228,635

2,881,961

4,861,009

27,426

4,888,435

4,274,992

32,439

527,632

1,228,733

2,057,885

428,303

4,155

22,204

41,485

8,307

49,369

231,201

226,038

30,684

96,243,607

1,842,602

98,086,209

23,926,862

1,439,353

4,961,637

3,410,871

9,070,197

5,044,804

1,701,570

3,699,356

1,946,758

415,754

4,152,466

39,152,231

20,211,778

2,879,434

95,487,189

1,838,131

97,325,320

23,688,984

1 ,420,818

4,912,156

3,381,675

8,984,977

4,989,358

1,697,415

3,677,152

1,908,095

407,447

4,103,188

38,924,555

20,063,717

2,854,767

730,174

4,421

734,595

223,780

17,442

46,192

28,212

78,961

52,973

4,155

18,454

34,300

8,307

49,163

226,969

146,524

22,943

26,244

50

26,294

14,098

1,093

6,259

2,473

22,236,790

223,904

22,460,694

22,102,430

56,594

5,032,231

8,138,433

6,700,352

2,174,820

3,750

4,363 27,483

115

707

1,537

1,724

1,683

52,992

242,895

33,211

4,993,125

2,474,100

258,811

2,260,214

4,819,418

2,405,313

243,430

2,170,675

173,707

68,787

15,381

89,539

4,504,838

2,252,024

251,152

2,001,662

4,412,767

2,228,901

239,309

1,944,557

69,635

16,023

4,272

49,340

22,436

7,100

7,571

7,765

488,287

222,076

7,659

258,552

18,132,199

200,949

18,333,148

18,065,316

42,690

4,554,080

6,938,896

4,727,687

1,801,963

4,104,591

22,955

4,127,546

4,037,114

13,904

478,151

1,199,537

1,972,665

372,857

24,661 2,822

1,592

49,467

164,918

27,194

91

3,525

77,977

6,017

406,651

176,412

4,121

226,118

81,636

45,664

3,538

32,434

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Total liabilities and capital accoun ts..............

Business and personal deposits—tota l........

Deposits of individuals, partnerships, and

corporations—demand..................................

Deposits of individuals, partnerships, and

corporations—time........................................

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, 

and amounts due to Federal Reserve banks.

Government deposits—total...........................

United States Government—demand.............

United States Government—time...................

States and subdivisions—demand...................

States and subdivisions—time.........................

Interbank and postal savings deposits— 

tota l................................................................

Banks in the United States—demand............

Banks in the United States—time..................

Banks in foreign countries—demand..............

Banks in foreign countries—time....................

265,860,540 255,644,704 10,215,836 229,182,168 226,623,672 2,373,678 184,818 36,678,372 29,021,032 7,657,340

197,270,603

102,896,492

90,610,669

3,763,442

189,145,465

102,036,925

83,376,315

3,732,225

8,125,138

859,567

7,234,354

31,217

164,421,747

102,876,529

57,786,186

3,759,032

163,080,173

102,016,981

57,334,992

3,728,200

1,280,828

802,388

447,703

30,737

60,746

57,160

3,491

95

32,848,856

19,963

32,824,483

4,410

26,065,292

19,944

26,041,323

4,025

6,783,564

19

6,783,160

385

24,760,295

9,276,580

287,235

11,012,129

4,184,351

24,417,216

9,193,141

278,013

10,865,533

4,080,529

343,079

83,439

9,222

146,596

103,822

24,742,059

9,273,434

287,208

11,010,135

4,171,282

24,402,173

9,190,812

277,990

10,863,539

4,069,832

339,886

82,622

9,218

146,596

101,450

18,236

3,146

27

1,994

13,069

15,043

2,329

23

1,994

10,697

3,193

817

4

2,372

16,338,455

12,158,494

357,743

1,650,607

2,147,386

24,225

15,956,377

12,030,178

160,881

1,610,652

2,130,961

23,705

382,078

128,316

196,862

39,955

16,425

520

16,336,301

12,158,152

355,931

1,650,607

2,147,386

24,225

15,954,266

12,029,836

159,112

1,610,652

2,130,961

23,705

381,790

128,072

196,819

39,954

16,425

520

245

244

1

2,154

342

1,812

2,111

342

1,769

43

43

Postal savings.....................................................

Total deposits..............................................

Demand.......................................................

Tim e............................................................

Miscellaneous liabilities—total......................

Rediscounts and other borrowed money........

All other miscellaneous liabilities....................

Total liabilities (excluding capital 

accounts)...................................................

Capital accounts— total...................................

Preferred capital................................................

Common stock...................................................

238,369,353

140,757,744

97,611,609

229,519,058

189,^68,65b

90,050,10^

8,850,295

1,289,090

7,561,205

205,500,107

140,727,889

64,772,218

203,436,612

189,440,020

68,996,592

2,002,504

1,280,869

772,185

60,991

57,500

8,491

32,869,246

29,855

82,889,891

26,082,446

28,684

26,058,812

6,786,800

1,221

6,785,579

6,018,066

1,150,754

4,867,312

5,798,761

1,125,936

4,672,825

219,305

24,818

194,487

5,389,803 

1,149,167 

4,240,636 1

5,293,127

1,125,899

4,167,228

84,605

21,962

62,643

12,071

1,306

10,765

628,263

1,587

626,676

505,634

37

505,597

122,629

1,550

121,079

244,387,419 235,317,819 9,069,600 210,889,910 1 208,729,739 2,087,109 73,062 33,497,509 26,588,080 6,909,429

21,473,121

65,918

5,363,592

10,731,720

5,311,891

20,326,885

44,545

5,246,012

10,181,454

4,854,874

1,146,236

21,373

117,580

550,266

457,017

18,292,258

65,918

5,363,592

8,532,039

4,330,709

17,893,933

44,545

5,246,012

8,398,164

4,205,212

286,569

21,373

81,572

96,339

87,285

111,756

36,008

37,536

38,212

3,180,863

(8)

2,432,952

(3)

747,911

Surplus................................................................

Undivided profits and reserves........................

2,199,681

981,182

1,783,290

649,662

416,391

331,520

Number of banks4..................................................... 14,095 13,383 712 13,574 13,144 375 55 521 239 282

1 Data are as of June 30, 1958, for some noninsured banks.

* Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

8 Not reported separately. Included with “ Undivided profits and reserves."

4 Includes 23 noninsured banks of deposit for which asset and liability data are not available. ^

Back figures: See the Annual Report for 1957, pp. 104-105, and earlier reports. 00

coASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars)

T a b l e 1 0 8 . A s s e t s a n d L i a b i l i t i e s o f O p e r a t in g B a n k s in t h e U n it e d S t a t e s (C o n t in e n t a l U , S. a n d O t h e r A r e a s ), D e c e m b e r 31, 1958

00

Asset, liability, or capital account item

Total assets..........................................................

Cash, balances with other banks, and cash 

collection items—total.............................

Currency and coin.............................................

Reserve with F. R. banks (member banks). .

Demand balances with banks in U. S.............

Other balances with banks in U. S.................

Balances with banks in foreign countries. . . . 

Cash items in process of collection..................

Securities— total.................................................

U. S. Gov’t, obligations (incl. guaranteed).. .

Obligations of States and subdivisions...........

Other bonds, notes, and debentures...............

Corporate stocks................................................

Loans and discounts, net— total...................

Valuation reserves.................................................

Loans and discounts, gross— tota l................

Real estate loans—total...................................

Secured by farm land.....................................

Secured by residential •properties:

Insured by F H A .........................................

Insured or guaranteed by V A ....................

Not insured or guaranteed by F H A or V A .

Secured by other properties............................

Loans to banks..................................................

Loans to brokers and dealers in securities----

Other loans for carrying securities..................

Loans to farmers directly guaranteed by the

Commodity Credit Corporation..................

Other loans to farmers (excl. real estate). . . .

Commercial and industrial loans.....................

Other loans to individuals................................

All other loans (including overdrafts)............

Miscellaneous assets— total............................

Bank premises owned, furniture and fixtures.

Other real estate—direct and indirect............

All other miscellaneous assets..........................

All banks

Total

277,880,159

50,146,997

3,451,865

18,428,052

13,216,044

242,524

120,360

14,688,152

100,324,983

73,935,092

17,310,671

7,661,486

1,417,734

122,287,478

2,188,442

124,475,920

48,786,068

1,523,272

10,976,919

11,695,898

16,853,792

7,736,687

723,230

2,831,989

1,865,753

814,039

4,179,107

40,771,061

21,034,372

3,470,301

5,120,701

2,577,592

270,499

2,272,610

Insured

267,662,458

49,543,458

3,370,983

18,428,052

12,774,542

235,215

113,509

14,621,157

95,856,356

71,003,719

16,948,991

6,895,445

1,008,201

117,311,454

2,162,327

119,473,781

44.422.115

1,492,334

10,439,879

10,532,270

l k ,659,853

7,297,779

717,821

2,797,220

1,821,904

798,684

4,129,829

40.536.115

20,808,341

3,441,752

4,951,190

2,505,244

254,816

2,191,130

Noninsured

10,217,701

603,539

80,882

441,502

7,309

6,851

66,995

4,468,627

2,931,873

361,680

766,041

409,533

4,976,024

26,115

5,002,139

4,363,953

30,938

537,040

1,163,128

2,193,939

£38,908

5,409

34,769

43,849

15,355

49,278

234,946

226,031

28,549

169,511

72,348

15,683

81,480

Commercial and stock savings banks and 

nondeposit trust companies

Total

240,191,330

49,226,012

3,308,083

18,426,597

12,640,725

82,322

120,360

14,647,925

87,361,753

66,670,032

16,585,222

3,551,151

555,348

98,930,181

1,960,083

100,890,264

25,522,658

1,1+70,519

5,475,601

3,334,945

9,780,359

5,461,234

723,230

2,831,989

1,854,179

814,039

4,177,641

40,688,001

20,829,914

3,448,613

4,583,384

2,347,110

261,270

1,975,004

Insured

237,473,161

48,791,792

3,259,181

18.426.597

12,323,841

75,066

113,509

14.593.598

86,056,411

65,788,956

16,316,891

3,445,567

504,997

98,131,656

1,955,113

100,086,769

25,267,331

l,k53,007

5,423,029

3,307,384

9,689,503

5,394,408

717,821

2,797,220

1,813,056

798,684

4,128,442

40,457,241

20,680,478

3,426,496

4,493,302

2,322,247

249,476

1,921,579

Noninsured

Banks

of

deposit

Nondeposit

trust

companies1

2,428,831

398,540

47,676

287,659

7,256

6,648

49,301

1,192,627

827,532

240,557

102,235

22,303

770,727

4,923

775,650

240,210

16,436

49,485

26,077

84,196

64,016

5,409

30,919

36,697

15,355

49,051

229,637

147,796

20,576

66,937

17,970

4,190

44,777

199,338

35,680

1,226

29,225

203

5,026

112,715

53,544

27,774

3,349

28,048

27,798

47

27,845

15,117

1,076

3,087

1,484

6,660

2,810

3,850

4,426

148

1,123

1,640

1,541

23,145

6,893

7,604

8,648

Mutual savings banks

Total

37,778,829

920,985

143,782

1,455

575,319

160,202

' 40,227

12,963,230

7,265,060

725,449

4,110,335

862,386

23,357,297

228,359

23,585,656

23,263,410

52,753

5,501,318

8.360.453

7,073,433

2.275.453

11,574

1,466

83,060

204,458

21,688

537,317

230,482

9,229

297,606

Insured

30,189,297

751,666

111,802

1,455

450,701

160,149

’ 27,559

9,799,945

5,214,763

632,100

3,449,878

503,204

19,179,798

207,214

19,387,012

19,154,784

39,327

5,016,850

7,224,886

4,970,350

1,903,371

8,848

1,387

78,874

127,863

15,256

457,888

182,997

5,340

269,551

Noninsured

7,589,532

169,319

31,980

124,618

53

' 12,668

3,163,285

2,050,297

93,349

660,457

359,182

4,177,499

21,145

4,198,644

4,108,626

13,426

484,468

1,135,567

2,103,083

372,082

2,726

79

4,186

76,595

6,432

79,429

47,485

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Total liabilities and capital accou n ts..............

Business and personal deposits— tota l........

Deposits of individuals, partnerships, and

corporations—demand..................................

Deposits of individuals, partnerships, and

corporations—time........................................

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, 

and amounts due to Federal Reserve banks.

Government deposits— total...........................

United States Government—demand.............

United States Government—time...................

States and subdivisions—demand...................

States and subdivisions—time.........................

Interbank and postal savings deposits— 

total................................................................

Banks in the United States—demand............

Banks in the United States—time..................

Banks in foreign countries—demand..............

Banks in foreign countries—time....................

Postal savings....................................................

277,880,159 267,662,458 (10,217,701 240,101,330 237,473,161 2,428,831 199,338 37,778,829 30,189,297 | 7,589,532

213,739,859

115,663,804

94,012,283

4,063,772

205,485,653

114,667,295

86,801,630

4,016,728

8,254,206

996,509

7,210,653

47,044

179,720,052

115,641,730

60,019,510

4,058,812

178,227,000

114,645,261

59,569,545

4,012,194

1,425,495

933,818

445,090

46,587

67,557

62,651

4,875

31

34,019,807

22,074

33,992,773

4,960

27,258,653

22,034

27,232,085

4,534

6,761,154

40

6,760,688

426

19,365,955

4,308,234

336,037

11,038,915

3,682,769

19,059,274

4,267,537

324,948

10,902,276

3,564,513

306,681

40,697

11,089

136,639

118,256

19,347,933

4,304,904

336,019

11,037,227

3,669,783

19,043,675

4,264,772

324,930

10,900,588

3,553,385

304,258

40,132

11,089

136,639

116,398

18,022

3,330

18

1,688

12,986

15,599

2,765

18

1,688

11,128

2,423

565

1,858

18,225,698

14,167,450

315,258

1,659,342

2,061,527

22,121

17,900,414

14,036,424

162,588

1,629,074

2,050,727

21,601

325,284

131,026

152,670

30,268

10,800

520

18,223,192

14,167,108

313,094

1,659,342

2,061,527

22,121

17,897,976

14,036,082

160,492

1,629,074

2,050,727

21,601

324,750

130,561

152,602

30,267

10,800

520

466

465

1

2,506

342

2,164

2,438

342

2,096

68

68

Total deposits..............................................

Demand.......................................................

Tim e............................................................

Miscellaneous liabilities—total.....................

Rediscounts and other borrowed money........

All other miscellaneous liabilities....................

Total liabilities (excluding capital 

accoun ts)..................................................

Capital accounts— total...................................

Preferred capital................................................

Common stock...................................................

251,331,512

150,901,517

100,A29,995

242,445,341

U 9,519,33 k

92,926,007

8,886,171

1,382,183

7,503,988

217,291,177

150,869,123

66,m ,0 5 k

215,168,651

Ik9,k87,971

65,680,680

2,054,503

1,318,00k

736,k99

68,023

63,1k 8

k,875

34,040,335

32,39k

3k,007,9kl

27,276,690

31,363

27,2k5,327

6,763,645

1,031

6,762,61k

4,726,923

96,544

4,630,379

4,553,523

76,460

4,477,063

173,400

20,084

153,316

4,207,520

88,510

4,119,010

4,113,586

69,836

4,043,750

78,233

16,644

61,589

15,701

2,030

13,671

519,403

8,034

511,369

439,937

6,624

433,313

79,466

1,410

78,056

256,058,435 246,998,864 9,059,571 221,498,697 219,282,237 2,132,736 83,724 34,559,738 27,716,627 6,843,111

21,821,724

76,905

5,491,152

11,207,379

5,046,288

20,663,594

46,905

5,370,790

10,650,275

4,595,624

1,158,130

30,000

120,362

557,104

450,664

18,602,633

76,905

5,491,152

8,924,746

4,109,830

18,190,924

46,905

5,370,790

8,789,315

3,983,914

296,095

30,000

84,268

97,990

83,837

115,614

36,094

37,441

42,079

3,219,091 2,472,670 746,421

Surplus................................................................

Undivided profits and reserves........................ 2,282,633

936,458

1,860,960

611,710

421,673

324,748

Number of banks2..................................................... 14,060 13,365 695 13,540 13,124 362 54 520 241 279

1 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations

2 Includes 26 noninsured banks of deposit for which asset and liability data are not available.

Back figures, 198U-1957: See the preceding table and the Annual Report for 1957, pp. 106-107, and earlier reports.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY DISTRICT AND STATE

(Amounts in thousands of dollars)

T a b l e 1 0 9 . A s s e t s a n d L i a b i l i t i e s o f O p e r a t i n g B a n k s in t h e U n it e d S t a t e s ( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , D e c e m b e r 31, 1958

Assets Liabilities and capital accounts

FDIC District 

and State

Number of Cash and 

due from 

banks

U. S. Government 

obligations

Loans, discounts, and 

overdrafts

Miscellaneous

assets

Total

Deposits

Miscellaneous

liabilities

Total

capital

accounts

banks1 Other

securities Business

and

personal2

Government8

Interbank4

Total United States... 14,060 50,146,997 73,935,092 26,389,891 122,287,478 5,120,701 277,880,159 213,739,859 19,365,955 18,225,698 4,726,923 21,821,724

Continental U. S---- 14,018 49,907,520 73,632,077 26,272,227 121,562,233 5,032,994 276,407,051 212,770,643 19,069,817 18,195,110 4,667,941 21,703,540

Other areas............... 42 239,477 303,015 117,664 725,245 87,707 1,473,108 969,216 296,138 30,588 58,982 118,184

FDIC District

District 1..................... 784 2,336,279 5,512,332 2,266,847 10,564,942 317,493 20,997,893 17,343,735 825,249 583,427 309,182 1,936,300

District 2&.................... 886 13,006,642 16,936,037 8,021,894 40,956,604 1,888,999 80,810,176 61,424,963

23,455,059

3,363,678 7,067,832 2,160,988 6,792,715

District 3 ..................... 1,359 5,102,628 8,050,056 3,234,826

1,273,649

12,456,541 443,471 29,287,522 1,800,604 1,172,563 346,599 2,512,697

District 4..................... 1,004 2,709,775 4,019,887 5,369,439 262,155 13,634,905 10,472,301 1,121,999 782,658 183,262 1,074,685

District 5..................... 1,123 2,526,082 3,334,662 1,061,167 4,232,734 210,796 11,365,441 8,278,143 1,284,384 837,039 133,452 832,423

District 6..................... 1,508 3,214,923 3,932,987 1,140,175 5,142,763 163,150 13,593,998

18,669,742

9,811,027 1,092,885 1,511,370 139,058 1,039,658

District 7..................... 1,412 3,295,958 6,491,075

7,334,627

1,569,541 7,059,004 254,164 14,948,036 1,610,680 574,718 218,502 1,317,806

District 8..................... 1,616 4,344,259 2,017,431 7,957,101 216,081 21,869,499 16,733,841 1,559,070 1,698,923 223,031 1,654,634

District 9..................... 1,129 1,311,265 2,228,667 772,325 2,857,663 96,324 7,266,244 5,533,251 683,707 441,999 76,580 530,707

District 10................... 1,636 2,221,795 2,807,430 812,451 3,613,318 117,220 9,572,214 7,005,755 1,084,723

1,845,579

647,048 86,286 748,402

District 11................... 1,218 4,508,129 4,313,245 1,355,059 6,940,563 404,391 17,521,387 12,422,074

26,311,674

1,797,474 186,329 1,269,931

District 126.................. 385 5,569,262 8,974,087 2,864,526 15,136,806 746,457 33,291,138 3,093,397 1,110,647 663,654 2,111,766

State

Alabama...................... 239 457,131 590,674 250,601 808,246 30,526 2,137,178 1,613,686 240,685 96,947 20,371 165,489

Arizona........................ 8 208,689 241,667 80,090 568,464 37,589 1,136,499 889,293 122,003 25,037 21,493 78,673

Arkansas...................... 237 313,442 338,464 158,407 447,340 15,745 1,273,398 983,912 98,819 81,562 6,188 102,917

California.................... 124 4,101,643 6,596,335 2,085,160 11,514,627 565,787 24,863,552 19,709,887 2,147,508 930,181 558,035 1,517,941

Colorado...................... 181 470,216 581,606 95,816 871,461 25,765 2,044,864 1,588,808 156,297 129,603 23,340 146,816

Connecticut................. 151 540,643 1,242,102 707,238 2,500,332 75,277 5,065,592 4,343,699 166,348 55,884 60,413 439,248

Delaware..................... 29 128,462 252,296 136,221 356,299 14,574 887,852 707,607 75,074 6,836 10,334 88,001

District of Columbia. . 13 333,214 525,163 69,768 670,206 31,910 1,630,261 1,384,095 40,979 78,659 16,495 110,033

Florida......................... 280 1,111,324 1,565,817 396,560 1,708,496 105,563 4,887,760 3,583,198 551,118 364,110 59,026 330,308

Georgia........................ 410 659,002 832,381 211,984 1,248,964 51,991 3,004,322 2,148,091 291,958 277,689 43,118 243,466

Idaho........................... 28 108,798 226,263 50,968 290,401 9,719 686,149 547,264 86,905 3,427 6,261 42,292

Illinois.......................... 946 3,707,419 6,292,967 1,688,358 6,557,006 189,636 18,435,386 14,050,481 1,259,735 1,535.079 210,899 1,379,192

Indiana........................ 463 1,008,474 1,839,359 319,852 1,742,904 57,898 4,968,487 3,854,928 554,827 145,819 50,524 362,389

Iowa............................. 670 636,840

499,708

1,041,660 329,073 1,400,095 26,445 3,434,113 2,683,360 299,335 163,844 12,132 275,442

Kansas......................... 593 738,752 300,128 904,392 24,601 2,467,581 1,704,089 442,790 108,985 12,811 198,906

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.................... 360 616,693 783,827 138,974 901,969 21,571 2,463,034 1,850,301 183,275 210,275 20,797 198,386

Louisiana..................... 186 749,319 879,546 287,863 1,083,515 49,481 3,049,724 2,111,780 389,229 301,591 28,749 218,375

Maine.......................... 87 126,840 326,213 143,111 511,515 17,236 1,124,915 942,585 49,248 11,881 10,773 110,428

Maryland.................... 149 505,588 1,009,732 325,869 1,228,729 81,714 3,151,632 2,526,931 229,373 114,461 35,693 245,174

Massachusetts............ 356 1,379,355 3,237,352 1,085,862 5,975,837 178,950 11,857,356 9,552,186 499,971 490,332 196,993 1,117,874

Michigan..................... 393 1,424,964 2,979,141 880,236 3,547,920 130,533 8,962,794 7,177,006 778,292 234,756 137,965 634,775

Minnesota................... 687 923,060 1,286,643 493,838 2,003,051 65,533 4,772,125 3,614,235 354,391 386,046 53,815 363,638

Mississippi.................. 194 298,625 345,790 202,022 467,028 22,716 1,336,181 933,168 200,623 98,293 10,937 93,160

Missouri...................... 613 1,497,289 1,984,925 563,350 2,404,459 67,938 6,517,961 4,600,809 530,774 824,910 64,129 497,339

Montana...................... 115 157,379 305,617 82,106 317,171 12,045 874,318 685,319 96,854 30,716 10,098 51,331

Nebraska..................... 423 418,784 554,059 137,824 700,402 16,245 1,827,314 1,346,189 150,314 164,375 19,209 147,227

Nevada........................ 6 51,357 128,407 50,751 162,004 9,400 401,919 302,691 71,166 1,217 4,039 22,806

New Hampshire.......... 109 89,804 247,656 100,032 523,529 15,289 976,310 816,867 35,159 12,136 10,630 101,518

New Jersey.................. 283 1,160,842 2,380,494 1,288,269 3,669,837 138,847 8,638,289 7,291,872 555,334 92,342 92,281 606,460

New Mexico................ 53 155,333 237,976 36,038 273,427 11,558 714,332 512,082 138,600 17,234 5,545 40,871

New York.................... 561 11,644,795 14,223,401 6,538,465 36,572,157 1,696,325 70,675,143 53,037,459 2,630,344 6,957,000 2,008,714 6,041,626

North Carolina........... 203 669,601 739,356 372,453 1,182,213 57,863 3,021,486 2,119,799 288,199 303,494 71,277 238,717

North Dakota............. 155 108,821 333,217 129,748 251,197 9,177 832,160 606,893 143,663 13,462 6,817 61,325

Ohio............................. 609 2,183,173 3,714,185 931,863 4,931,807 171,358 11,932,386 9,518,283 989,660 389,438 136,921 898,084

Oklahoma.................... 387 736,981 775,034 251,511 990,793 45,159 2,799,478 2,046,814 271,445 228,365 27,320 225,534

Oregon......................... 56 383,305 633,394 240,422 895,623 41,398 2,194,142 1,727,221 241,528 30,570 33,248 161,575

Pennsylvania.............. 750 2,919,455 4,335,871 2,302,963 7,524,734 272,113 17,355,136 13,936,776 810,944 783,125 209,678 1,614,613

Rhode Island.............. 17 139,225 342,850 191,335 739,696 23,163 1,436,269 1,227,478 50,451 11,361 25,321 121,658

South Carolina........... 144 239,804 289,683 114,051 384,103 15,668 1,043,309 794,743 129,406 27,059 10,280 81,821

South Dakota............. 172 122,005 303,190 66,633 286,244 9,569 787,641 626,804 88,799 11,775 5,850 54,413

Tennessee.................... 298 787,499 825,771 279,444 1,388,995 57,896 3,339,605 2,376,005 280,017 394,623 47,944 241,016

Texas........................... 971 3,394,788 2,954,056 951,068 5,015,157 305,763 12,620,832 8,908,919 1,195,747 1,453,612 130,542 932,012

Utah............................. 49 190,910 256,131 74,438 456,539 15,709 993,727 737,868 131,701 44,741 13,176 66,241

Vermont...................... 64 60,412 116,159 39,269 314,033 7,578 537,451 460,920 24,072 1,833 5,052 45,574

Virginia........................ 312 675,543 954,410 299,350 1,434,081 56,375 3,419,759 2,599,933 306,005 210,294 38,980 264,547

Washington................. 93 566,315 910,388 304,062 1,450,678 55,990 3,287,433 2,705,552 221,377 81,577 39,572 239,355

West Virginia.............. 183 286,025 501,543 92,158 470,107 18,625 1,368,458 1,046,800 128,037 48,691 10,537 134,393

Wisconsin.................... 556 862,520 1,672,575 369,453 1,768,180 65,733 4,738,461 3,916,102 277,561 194,143 30,013 320,642

Wyoming..................... 52 96,106 157,979 27,172 146,270 5,450 432,977 319,855 63,877 15,720 3,606 29,919

Other area

Alaska.......................... 18 33,888 72,867 14,408 67,313 3,864 192,340 126,383 51,313 2,800 706 11,138

American Samoa........ 1 365 1,307 273 37 1,982 1,290 431 61 31 169

Hawaii......................... 10 129,174 148,995 ’ “ ’ 44,317 288,862 16,483 627,831 431,769 122,234 15,659 7,920 50,249

Mariana Islands7........ 833 8,933 12,588 22,354 13,077 8,709 568

Panama Canal Zone7 , 2,674 1,553 15,482 19,709 8,672 10,525 414 98

Puerto Rico7................ 10 68,276 70,016 57,971 349,577 38,905 584,745 374,432 94,094 11,622 49,288 55,309

Virgin Islands............. 3 4,267 9,830 968 8,734 348 24,147 13,593 8,832 32 371 1,319

1 Includes 26 noninsured banks of deposit (6 in Colorado, 16 in Georgia, 1 in Iowa, and 3 in Texas) for which asset, liability, and capital account data are not available.

2 Demand and time deposits of individuals, partnerships, and corporations, certified and officers’ checks, cash letters of credit, etc.

* Deposits of the United States Government and of States and subdivisions.

4 Interbank deposits and postal savings deposits.

6 Includes Puerto Rico and the Virgin Islands.

6 Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone. «<l

> 7 Includes asset and liability data for the following branches of insured banks in continental United States: 2 insured branches and 1 noninsured branch in the Mariana Islands 

(2 insured in Guam and 1 noninsured in Saipan); 4 noninsured branches in the Panama Canal Zone; and 13 insured branches in Puerto Rico. Data for these branches are not included 

m the figures for the States in which the parent banks are located.

Back figures, 191*5-1957: See the Annual Report for 1957, pp. 108-109, and earlier reports.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 0 . A s s e t s a n d L ia b ilit ie s o f O p e r a tin g In su re d B a n k s in t h e U n ite d S t a t e s ( C o n t in e n t a l U . S. an d O t h e r A r e a s ),

D e c e m b e r 31, 1958, J u n e 23, 1958, a n d D e c e m b e r 31, 1957

(Amounts in thousands of dollars)

Assets

All insured banks Insured commercial banks1 Insured mutual savings banks

Dec. 31, 

1958

June 23, 

1958

Dec. 31, 

1957

Dec. 31, 

1958

June 23, 

1958

Dec. 31, 

1957

Dec. 31, 

1958

June 23, 

1958

Dec. 31, 

1957

Total assets..........................................................................

Cash, balances with other banks, and cash collection items—total..............................................

Currency and coin.........................................................

Reserve with Federal Reserve banks (member banks) 

Demand balances with banks in the United States 

(except private banks and American branches of

foreign banks)............................................................

Other balances with banks in the United States. . . .

Balances with banks in foreign countries..................

Cash items in process of collection..............................

Obligations of the U. S. Governm ent, direct and 

guaranteed— tota l..................................................

Direct:

Treasury bills.............................................................

Treasury certificates of indebtedness......................

Treasury notes...........................................................

United States non-marketable bonds.....................

Other bonds maturing in 5 years or less................

Other bonds maturing in 5 to 10 years..................

Other bonds maturing in 10 to 20 years................

Other bonds maturing after 20 years......................

Guaranteed obligations (FHA debentures)................

Other securities—total.................................................

Obligations of States and subdivisions.......................

Other bonds, notes, and debentures...........................

Federal Reserve bank stock.........................................

Other corporate stocks.................................................

Total securities...................................................

267,662,458 255,644,704 249,205,004 237,473,161 226,623,672 221,534,082 30,189,297 29,021,032 27,670,922

49,543,458

3,370,983

18,428,052

12,774,542

235,215

113,509

14,621,157

44,074,824

3,108,164

18,569,796

11,088,858

273,920

105,691

10,928,395

48,937,530

3,453,082

18,973,317

12,531,337

167,984

77,754

13,734,056

48,791,792

3,259,181

18.426.597

12,323,841

75,066

113,509

14.593.598

43,329,670

3,027,621

18,568,324

10,645,438

76,741

105,691

10,905,855

48,218,664

3,345,502

18,971,893

12,072,336

44,247

77,754

13,706,932

751,666

111,802

1,455

450,701

160,149

27,559

745,154

80,543

1,472

443,420

197,179

22,540

718,866

107,580

1,424

459,001

123,737

27,124

71,003,719

6,272,404

7,427,829

13,616,977

1,992,610

22,598,535

12,025,440

6,133,591

915,050

21,283

68,825,949

4,466,459

3,923,456

12,526,892

2,047,277

21,909,448

15,843,838

7,145,077

945,129

18,373

63,090,397

5,384,320

4,886,912

10,781,448

2,160,945

24,019,910

8,409,921

6,957,342

465,357

24,242

65,788,956

6,175,107

7,366,557

13,259,413

1,198,468

22,096,152

11,360,188

3,826,377

500,614

6,080

63,592,396

4,423,806

3,844,352

12,224,746

1,208,616

21,484,984

15,350,373

4,509,695

540,436

5,388

57,686,105

5,297,896

4,770,564

10,510,447

1,217,272

23,418,354

8,003,229

4,329,192

131,757

7,394

5,214,763

97,297

61,272

357,564

794,142

502,383

665,252

2,307,214

414,436

15,203

5,233,553

42,653

79,104

302,146

838,661

424.464

493.465 

2,635,382

404,693

12,985

5,404,292

86,424

116,348

271,001

943,673

601,556

406,692

2,628,150

333,600

16,848

24,852,637

16,948,991

6,895,445

364,555

643,646

24,305,125

16,129,921

7,200,701

352,718

621,785

21,580,601

14,316,219

6,370,336

345,171

548,875

20,267,455

16,316,891

3,445,567

364,475

140,522

19,801,650

15,502,404

3,812,313

352,640

134,293

17,643,581

13,732,692

3,434,684

345,095

131,110

4,585,182

632,100

3,449,878

80

503,124

4,503,475

627,517

3,388,388

78

487,492

3,937,020

583,527

2,935,652

76

417,765

95,856,356 93,131,074 84,670,998 86,056,411 83,394,046 75,329,686 9,799,945 9,737,028 9,341,312

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Loans and discounts, net—total...............................

Valuation reserves.............................................................

Loans and discounts, gross— total...........................

Real estate loans—total...............................................

Secured by farm land.................................................

Secured by residential properties:

Insured by F H A ....................................................

Insured or guaranteed by V A ................................

Not insured or guaranteed by F H A or V A ..........

Secured by other properties........................................

Loans to banks..............................................................

Loans to brokers and dealers in securities.................

Other loans for carrying securities..............................

Loans to farmers directly guaranteed by the Commodity Credit Corporation......................................

Other loans to farmers (excl. real estate)..................

Commercial and industrial loans (including open

market paper)............................................................

Other loans to individuals...........................................

All other loans (including overdrafts)........................

Total loans and securities...............................

Bank premises, furniture and fixtures, and other

real estate—total...................................................

Bank premises...............................................................

Furniture and fixtures..................................................

Real estate owned other than bank premises...........

Investments and other assets indirectly representing 

bank premises or other real estate..........................

Miscellaneous assets— total........................................

Customers’ liability on acceptances outstanding. . . . 

Other assets...................................................................

RATIOS

Percentages of total assets:

Cash and balances with other banks..........................

U. S. Government obligations, direct and guaranteed

Other securities.............................................................

Loans and discounts.....................................................

Other assets...................................................................

Total capital accounts..................................................

117,311,454

2,162,327

119,473,781

44,422,115

1,1*92,331*

113,619,388

2,039,080

115,658,468

41,754,300

1,1*63,508

110,995,104

1,974,714

112,969,818

40,314,470

1,391,938

1 98,131,656 

1,955,113 

100,086,769 

25,267,331 

1,1*53,007

95,487,189

1,838,131

97,325,320

23,688,984

1,1*20,818

93,801,010

1,776,004

95,577,014

23,104,149

1,31*8,615

19,179,798

207,214

19,387,012

19,154,784

39,327

18,132,199

200,949

18,333,148

18,065,316

1*2,690

17,194,094

198,710

17,392,804

17,210,321

1*3,323

10,1*39,879

10,532,270

11*,659,853

7,297,779

717,821

9,1*66,236

10,320,571

13,712,661*

6,791,321

1,697,415

9,015,983

10,11*1*, 186

13,259,1*38

6,502,925

728,404

5,1*23,029

3,307,381*

9,689,503

5,3 91*,1*08

717,821

1*, 912,156

3,381,675

8,981*,977

1*,989,358

1,697,415 

3,677,152 

1,908,095

1*,777,210

3,557,81*1

8,651*,696

1*,765,787

728,404 

2,568,942 

1,602,259

5,016,850

7,221*,886

4,970,350

1,903,371

1*,551*,080

6,938,896

1*, 727,687

1,801,963

1*,238,773

6,586,31*5

1*,601*,71*2

1,737,138

2,797,220 3,677,152

1,932,756

2,568,942 2,797,220

1,821,904 1,607,903 1,813,056 8,848 24,661 5,644

798,684 407,447 455,479

3,576,225

798,684

4,128,442

407,447 455,479

4,129,829 4,104,780 4,103,188 1,387 3,574,669 1,592 1,556

40,536,115

20,808,341

3,441,752

38,974,022

20,228,635

2,881,961

40,591,601

20,307,864

2,818,930

40,457,241

20,680,478

3,426,496

38,924,555

20,063,717

2,854,767

40,545,528

20,199,777

2,797,807

78,874

127,863

15,256

49,467

164,918

27,194

46,073

108,087

21,123

213,167,810 206,750,462 195,666,102 184,188,067 178,881,235 169,130,696 28,979,743 27,869,227 26,535,406

2,760,060

1,978,227

527,017

56,593

2,648,743

1,887,168

518,145

61,126

2,485,869

1,791,220

471,918

54,074

2,571,723

1,809,336

512,911

51,253

2,468,210

1,723,258

505,643

57,005

2,315,388

1,634,807

461,120

50,804

188,337

168,891

14,106

5,340

180,533

163,910

12,502

4,121

170,481

156,413

10,798

3,270

198,223 182,304 168,657 198,223 182,304 168,657

2,191,130

854,561

2,170,675

956,615

2,115,503

987,896

1,921,579

854,561

1,944,557

956,615

1,869,334

987,896

881,438

269,551 226,118 246,169

1,336,569 1,214,060 1,127,607 1,067,018 987,942 269,551 226,118 246,169

18.5%

26.5

9.3

43.8

1.9

7.7

17.2%

26.9

9.5

44.5

1.9

8.0

19.6%

25.3

8.7 

44.5

1.9

7.8

20.6%

27.7

8.5

41.3

1.9

7.7

19.1%

28.1

8.7

42.1

2.0

7.9

21.8%

26.0

8.0

42.3

1.9

7.7

2.5%

17.3

15.2

63.5

1.5

8.2

2.6%

18.0

15.5

62.5

1.4

8.4

2.6%

19.5

14.2

62.2 

1.5 

8.3

00

oASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 0 . A ssets a n d L ia b il it ie s o f O pe r a t in g I n su red B a n k s in th e U n ite d Sta t e s (C o n t in e n t a l U . S. a n d Ot h e r A r e a s ),

D e c e m b e r 31, 1958, J u n e 23, 1958, a n d D e c e m b e r 31, 1957—Continued

(Amounts in thousands of dollars)

CD

O

Liabilities and capital

All insured banks

Dec. 31, 

1958

June 23, 

1958

Dec. 31, 

1957

Insured commercial banks1

Dec. 31, 

1958

June 23, 

1958

Dec. 31, 

1957

Insured mutual savings banks

Dec. 31, 

1958

June 23, 

1958

Dec. 31, 

1957

Total liabilities and capital accoun ts......................

Business and personal deposits—total................

Deposits of individuals, partnerships, and corporations—demand...................................................

Deposits of individuals, partnerships, and corporations—time2........................................................

Certified and officers’ checks, cash letters of credit 

and travelers’ checks outstanding, and amounts 

due to Federal Reserve banks.............................

Government deposits— total...................................

United States Government—demand.....................

United States Government—time...........................

States and subdivisions—demand...........................

States and subdivisions—time.................................

Interbank and postal savings deposits—total. .

Banks in the United States—demand....................

Banks in the United States—time..........................

Banks in foreign countries—demand......................

Banks in foreign countries—time............................

Postal savings............................................................

Total deposits......................................................

Demand...............................................................

Tim e....................................................................

M iscellaneous liabilities—total.............................

Bills payable, rediscounts, and other liabilities for

borrowed money........................................................

Acceptances outstanding..............................................

Other liabilities..............................................................

Total liabilities (excluding capital accou n ts).

267,662,458 255,644,704 249,205,004 237,473,161 226,623,672 221,534,082 30,189,297 29,021,032 27,670,922

205,485,653

114,667,295

86,801,630

4,016,728

189,145,465

102,036,925

83,376,315

3,732,225

191,123,086

109,203,083

78,307,102

3,612,901

178,227,000

114,645,261

59,569,545

4,012,194

163,080,173

102,016,981

57,334,992

3,728,200

166,116,840

109,185,975

53,324,826

3,606,039

27,258,653

22,034

27,232,085

4,534

26,065,292

19,944

26,041,323

4,025

25,006,246

17,108

24,982,276

6,862

19,059,274

4,267,537

324,948

10,902,276

3,564,513

24,417,216

9,193,141

278,013

10,865,533

4,080,529

17,595,509

3,892,635

292,085

10,651,449

2,759,340

19,043,675

4,264,772

324,930

10,900,588

3,553,385

24,402,173

9,190,812

277,990

10,863,539

4,069,832

17,581,288

3,889,322

292,073

10,649,514

2,750,379

15,599

2,765

18

1,688

11,128

15,043

2,329

23

1,994

10,697

14,221

3,313

12

1,935

8,961

17,900,414

14,036,424

162,588

1,629,074

2,050,727

21,601

15,956,377

12,030,178

160,881

1,610,652

2,130,961

23,705

16,788,777

13,760,062

45,435

1,736,876

1,221,883

24,521

17,897,976

14,036,082

160,492

1,629,074

2,050,727

21,601

15,954,266

12,029,836

159,112

1,610,652

2,130,961

23,705

16,787,123

13,759,719

44,124

1,736,876

1,221,883

24,521

2,438

342

2,096

2,111

342

1,769

1,654

343

1,311

242,445,341

149,519,334

92,926,007

229,519,058

139,468,654

90,050,404

225,507,372

142,857,006

82,650,866

215,168,651

149,487,971

65,680,680

203,436,612

189,440,020

68,996,592

200,485,251

1^2,827,445

57,657,806

27,276,690

81,863

27,245,827

26,082,446

28,634

26,053,812

25,022,121

29,561

24,992,560

4,553,523

76,460

891,231

3,585,832

5,798,761

1,125,936

987,053

3,685,772

4,303,190

70,545

1,028,557

3,204,088

4,113,586

69,836

891,231

3,152,519

5,293,127

1,125,899

987,053

3,180,175

3,962,962

68,483

1,028,557

2,865,922

439,937

6,624

433,313

505,634

37

505,597

340,228

2,062

338,166'

246,998,864 235,317,819 229,810,562 219,282,237 208,729,739 204,448,213 27,716,627 26,588,080 25,362,349

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Capital accounts— total....................

Capital stock, notes, and debentures

Surplus................................................

Undivided profits...............................

Reserves..............................................

MEMORANDA 

Pledged assets and securities loaned..

Capital stock, notes, and debentures: 

Par or face value—total......................

Common stock.....................................

Capital notes and debentures............

Preferred stock.....................................

Retirable value of preferred stock.........

Number of banks.............................................

20,663,594

5,417,695

10,650,275

3,883,965

711,659

26,023,689

5,417,995

5,371,090

27,689

19,216

24,085

20,326,885

5,290,557

10,181,454

4,213,066

641,808

29,310,399

5,293,987

5,246,412

29,694

17,881

26,713

19,394,442

5,169,329

9,984,995

3,634,603

605,515

23,188,574

5,172,759

5,123,987

30,687

18,085

27,044

18,190,924

5,417,695

8,789,315

3,457,189

526,725

26,023,689

5,417,995

5,371,090

27,689

19,216

24,085

17,893,933

5,290,557

8,398,164

3,733,378

471,834

29,310,399

5,290,957

5,246,412

26,664

17,881

26,713

17,085,869

5,169,329

8,241,544

3,232,021

442,975

23,188,574

5,169,729

5,123,987

27,657

18,085

27,044

2,472,670

i ,860,960 

426,776 

184,934

2,432,952

(8)

1,783,290

479,688

169,974

3,030

3,030

2,308,573

(3)

1,743,451

402,582

162,540

3,030

3,030

13,365 13,383 13,404 13,124 13,144 13,165 241 239 239

1 Includes stock savings banks.

* As of June 23, 1958, the segregation of “ Time deposits of individuals, partnerships, and corporations” of insured commercial banks was obtained by a supplementary schedule 

and is as follows:

Savings deposits........................................................................ $48,590,513,000

Deposits accumulated for payment of personal loans.......... 628,522,000

Christmas savings and similar accounts................................ 642,657,000

Certificates of deposit.............................................................. 4,644,512,000

Open accounts of banks’ own trust departments................. 1,323,036,000

Other open accounts................................................................ 1,510,752,000

1 Not reported separately. Included with “ Reserves.”

Back figures, 1934-1957: See the Annual Report for 1957, pp. 110-113, and earlier reports.

COASSETS AND LIABILITIES OF OPERATING B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 111. D is t r ib u t io n o f I n s u r e d C o m m e r c ia l B a n k s O p e r a t in g in t h e U n it e d S t a t e s

(C o n t in e n t a l U . S. a n d O t h e r A r e a s), D e c e m b e r 31, 1958

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY RATIOS OF SELECTED ITEMS TO ASSETS

Number of banks with deposits of—

Ratios All

banks Less

than

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

$100,000,000

to

$500,000,000

$500,000,000

or

more

Ratios of obligations of States and subdivisions to total assets of—

Zero................................................................... 1,125

1,071

367 404 249 51 34 16 4

More than zero but less than 1 percent....... 181 375 326 89 59 23 8 8 2

1 to 5 percent................................................... 3,618 362 885 1,257 504 336 122 63 71 18

5 to 10 percent................................................. 3,797 188 542 1,314 837 554 159 86 95 22

10 to 15 percent............................................... 2,133 95 236 777 540 313 93 41 30 8

15 to 20 percent............................................... 898 36 128 337 214 124 40 12 7

20 percent or more..........................................

Ratios of U. S. Government obligations 

to total assets of—

Less than 10 percent.......................................

482

241

31

51

81

67

168

82

118

27

63

10

11

2

9

2

1

10 to 20 percent............................................... 1,335 166 260 432 245 138 36 18 27 13

20 to 30 percent............................................... 3,678 257 613 1,186 700 496 179 88 132 27

30 to 40 percent............................................... 4,284 373 797 1,415 861 535 172 82 39 10

40 to 50 percent............................................... 2,452

888

261 571 901 394 231 57 23 14

50 to 60 percent............................................... 110 259 333 100 64 14 5 3

60 percent or more.......................................... 246 42 84 79 26 9 4 1 1

Ratios of loans to total assets of—

Less than 10 percent....................................... 70 14 14 19 12 7 1 1 2

10 to 20 percent............................................... 587 71 148 216 104 36 7 4 1

20 to 30 percent............................................... 2,412 225 543 895 427 230 62 19 11

30 to 40 percent............................................... 4,338 383 804 1,521 794 532 144 82 66 12

40 to 50 percent............................................... 4,006 349 764 1,240 737 512 195 81 98 30

50 to 60 percent............................................... 1,406 163 293 445 237 148 48 30 34 8

60 percent or more.......................................... 305 55 85 92 42 18 7 2 4

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Ratios of cash and due from banks to total 

assets of—

Less than 10 percent.......................................

10 to 15 percent...............................................

15 to 20 percent...............................................

20 to 25 percent...............................................

25 to 30 percent...............................................

30 to 35 percent...............................................

35 percent or more..........................................

Ratios of total capital accounts to total 

assets other than cash and due from 

banks and U. S. Governm ent obligations of—

Less than 10 percent.......................................

10 to 15 percent...............................................

15 to 20 percent...............................................

20 to 25 percent...............................................

25 to 30 percent...............................................

30 to 35 percent...............................................

35 to 40 percent...............................................

40 percent or more..........................................

Ratios of total capital accounts to total 

assets of—

Less than 4 percent.........................................

4 to 6 percent...................................................

6 to 8 percent...................................................

8 to 10 percent.................................................

10 to 12 percent...............................................

12 to 15 percent...............................................

15 percent or more..........................................

Number of banks.................................................

804

3,735

4,062

2,415

1,181

515

412

498

3,998

4,177

2,166

1,005

538

269

473

43

1,336

4,586

3,958

1,920

951

330

78

331

315

210

121

81

1247

108

279

271

202

136

89

1681

13

133

331

337

308

137

188

751

733

477

262

133

107

27

436

768

623

334

188

90

185

80

595

939

618

304

115

13,124 1,260 2,651

299 133 70 23 7 5

1

1,229 736 438 156 56 37

1

1,414 787 536 150 65 45 17

827 412 283 80 53 61 12

387 176 101 44 28 48 14

158 76 37 7 4 17

2

114 33 18 4

6 3 3

111 134 131 42 21 23

2

1,171 1,002 738 283 119 117 24

1,605 808 460 110 66 60 21

872 255 100 21

9 12

3

335 93 33 5 1 2

174 27

8

13

1

73 13

3

1

87 21 10 1 1 7 6 15 9 1 4

312 353 346 135 52 38 7

1,603 1,064 708 215 116 127 25

1,526 674 308 91 38 37 14

689 170 75 11 11

7

2

235 73 25

2

1

1

2

56 13

6 1 2

4,428 2,353 1,483 464 219 216 50

O

COASSETS AND LIABILITIES OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 112. Earnings, expenses, and dividends of insured commercial banks in the United States

(continental U. S. and other areas), 1950-1958

Table 113. Ratios of earnings, expenses, and dividends of insured commercial banks in the

United States (continental U. S. and other areas), 1950-1958

Table 114. Earnings, expenses, and dividends of insured commercial banks in the United States

(continental U. S. and other areas), 1958

By class of bank

Table 115. Ratios of earnings, expenses, and dividends of insured commercial banks in the

United States (continental U. S. and other areas), 1958

By class of bank

Table 116. Earnings, expenses, and dividends of insured commercial banks operating throughout 1958 in the United States (continental U. S. and other areas)

Banks grouped according to amount of deposits

Table 117. Ratios of earnings, expenses, and dividends of insured commercial banks operating

throughout 1958 in the United States (continental U. S. and other areas)

Banks grouped according to amount of deposits

Table 118. Earnings, expenses, and dividends of insured commercial banks in the United States

(continental U. S. and other areas), by State, 1958

Table 119. Income, expenses, and dividends of insured mutual savings banks, 1951-1958

Table 120. Ratios of income, expenses, and dividends of insured mutual savings banks, 1951-1958

E a r n i n g s , E x p e n s e s , a n d D iv i d e n d s o f I n s u r e d B a n k s

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
R ep orts o f earnings, expenses, and dividends are subm itted to the 

F ederal supervisory agencies on either a cash or an accrual basis.

E arnings d ata are inclu d ed fo r all insured banks operating at the end 

o f the respective years, unless indicated otherwise. In addition, appropriate adju stm en ts have been m ade for banks in operation during part 

o f the year b u t n o t at the end o f the year. D a ta for 2 insured branches 

in G u am o f an insured b a n k in C alifornia and for 13 insured branches 

in P u erto R ic o o f insured banks in N ew Y o rk are not available.

T h e un iform report o f earnings and dividends for com m ercial banks 

was revised in 1948 to show separately for the first tim e charge-offs and 

transfers to valu a tion reserves as well as recoveries and transfers from 

valuation reserves. A lso, the actual recoveries and losses that are credited 

and charged to valu ation reserves were reported as m em oranda item s.

A verages o f assets and liabilities shown in T ables 112-115 and 118 are 

based u p on figures at the beginning, m iddle, and end o f each year, as 

reported b y banks operatin g on those dates, adjusted to exclude asset 

and liability figures fo r insured branches in G uam of an insured bank in 

C alifornia and in P u erto R ic o o f insured banks in N ew Y ork. C onsequ ently, the asset and liability averages are n ot strictly com parable 

wdth the earnings data, b u t the differences are not large enough to 

affect the totals significantly. Som e further incom parability is also 

in trodu ced in to the d ata b y class of bank b y shifts betw een those 

classes during the year.

C o m m ercia l b an ks Assets and liabilities show n in T able 116, and utilized for com ­

pu tation o f ratios show n in T a b le 117, are fo r the identical banks 

to w hich the earnings data pertain. T h e assets and liabilities are as 

o f D ecem b er 31, 1958.

M u t u a l sa v in g s b a n k s

A uniform report o f incom e, expenses, and dividends for m utual savings banks was adopted b y the C orporation fo r the calendar year 1951. 

Sum m aries o f these reports for 1951-1958 are given in T ables 119 and 

120. D a ta prior to 1951 are om itted because o f lack o f com parability.

T h e new form attem pts to present operations on a basis accurately 

reflecting actual incom e and p rofit and loss, and provides m ore detailed 

inform ation regarding losses and v aluation adjustm ents. F or a discussion 

o f the history and principles o f this uniform report see pp. 50-52 in 

P art T w o o f the 1951 A nnual R ep ort.

S o u rc e s o f d a ta

N ational banks and State banks n ot m em bers o f the Federal R eserve 

System in the D istrict o f C olu m bia: Office o f the C om ptroller o f the 

C urrency.

State banks m em bers o f the Federal R eserve System : B oard of 

G overnors o f the Federal R eserve System .

O ther insured banks: F ederal D ep osit Insurance C orporation.

o

CJI EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 112. E a r n in g s , E x p e n s e s, an d D iv id e n d s o f I n su r e d C o m m e r c ia l B a n k s in th e

U n it e d Sta t e s (C o n t in e n t a l U. S. a n d Ot h e r A r e a s ), 1950-1958

(Amounts in thousands of dollars)

Earnings or expense item 1950 1951 1952 1953 1954 1955 1956 1957 1958

Current operating earnings— to ta l.........................

Interest on U. S. Government obligations..............

Interest and dividends on other securities...............

Interest and discount on loans..................................

Service charges and fees on bank’s loans.................

Service charges on deposit accounts.........................

Other service charges, commissions, fees, and 

collection and exchange charges............................

Other current operating earnings..............................

3,930,696

1,015,456

225,425

1,976,100

31,724

212,272

104,602

180,674

184,445

4,395,411

983,662

249,495

2,390,106

34,595

230,507

116,140

192,313

198,593

4,931,688

1,099,059

276,993

2,742,100

42,295

244,696

121,868

204,967

199,713

5,483,954

1,206,965

297,739

3,107,885

47,850

271,444

132,978

217,996

201,101

5,773,787

1,272,731

324,823

3,205,894

57,550

311,806

144,140

246,223

210,621

6,377,705

1,333,690

351,041

3,625,528

71,048

339,975

155,004

281,841

219,579

7,231,921

1,342,842

370,045

4,339,866

73,562

385,927

168,497

322,117

229,068

8,050,416

1,442,379

412,497

4,879,676

83,815

440,892

186,815

354,520

249,828

8,500,949

1,544,023

501,978

5,046,782

94,674

486,507

191,408

379,395

256,183

Current operating expenses— total.........................

Salaries and wages—employees........................... ..

Fees paid to directors and members of executive,

discount, and other committees. ^..........................

Interest on time and savings deposits......................

Interest and discount on borrowed money............

Taxes other than on net income................................

Recurring depreciation on banking house, furniture

Other current operating expenses..............................

2,444,534

446,043

755,681

24,745

343,040

4,296

128,101

59,469

683,159

2,701,313

486,300

864,519

27,343

385,344

9,667

135,590

65,845

726,707

3,028,575

530,035

965,197

30,871

458,059

20,921

139,290

74,953

809,252

3,375,552

582,405

1,069,890

34,591

534,493

24,171

148,783

84,085

897,137

3,638,087

622,862

1,139,013

37,197

618,341

8,556

166,452

94,720

950,945

3,960,173

666,152

1,229,756

39,563

678,237

23,093

176,840

108,306

1,038,228

4,457,198

720,866

1,372,262

42,614

805,857

45,392

187,526

128,085

1,154,600

5,119,182

773,769

1,493,778

45,396

1,141,715

49,538

205,903

146,262

1,262,823

5,612,723

827,142

1,573,330

48,271

1,380,575

24,161

221,571

168,371

1,369,305

Net current operating earnings............................... 1,486,164 1,694,100 1,903,112 2,108,398 2,135,700 2,417,533 2,774,724 2,931,235 2,888,223

Recoveries, transfers from reserve accounts,

On securities:

Transfers from reserve accounts............................

Profits on securities sold or redeemed..................

245,461

14,718

38,639

90,469

169,233

15,292

12,285

56,563

144,146

11,191

20,492

33,806

152,373

11,454

27,545

38,865

631,496

14,912

60,555

416,520

239,598

20,586

89,930

57,085

250,171

14,090

41,001

31,151

198,413

9,295

20,751

64,368

868,115

9,646

57,145

681,554

On loans:

Transfers from reserve accounts............................

28,506

29,971

43,157

22,595

28,453

34,046

22,004

27,330

29,324

28,423

18,292

27,794

34,014

57,965

47,530

27,379

50,899

43,722

20,762

77,606

65,563

21,183

39,757

43,063

22,439

42,158

55,176

Losses, charge-offs, and transfers to reserve 

On securities:

Transfers to reserve accounts.................. .

366,932

38,721

54,518

395,687

83,756

31,680

362,444

97,512

29,531

448,323

155,969

54,160

552,606

66,670

126,173

707,155

221,232

67,276

993,534

317,381

101,830

757,432

237,480

84,996

783,213

93,657

268,159

On loans:

Transfers to reserve accounts................................

23,030

191,248

59,414

21,215

204,202

54,836

23,637

154,510

57,253

31,774

132,127

74,291

29,269

222,998

107,497

28,159

303,600

86,886

32,018

452,940

89,369

25,636

321,870

87,452

25,053

282,227

114,117

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before incom e taxes...............................

Taxes on net incom e— tota l......................................

Federal................................................................................

State.....................................................................................

Net profits after incom e taxes..................................

Dividends and interest on capital—total.............

Dividends declared on preferred stock and interest

on capital notes and debentures..............................

Cash dividends declared on common stock...........

Net additions to capital from profits.....................

1,364,690 1,467,645 1,684,813 1,812,451 2,214,591 1,949,976 2,031,360 2,372,217 2,973,128

427,776

402,582

25,194

559,475

530,810

28,664

694,883

662,277

32,606

786,490

750,796

35,693

907,560

862,065

45,495

793,737

753,883

39,855

814,636

769,843

44,793

998,397

947,998

50,401

1,271,459

1,198,890

72,570

936,915 908,175 989,931 1,025,963 1,307,032 1,156,240 1,216,725 1,373,821 1,701,667

391,249

4,333

386,916

418,860

3,876

414,984

441,971

3,675

438,298

473,866

2,979

470,888

516,977

2,912

514,066

566,124

2,581

563,543

616,890

2,389

614,501

678,101

2,234

675,867

725,866

2,366

723,500

545,666 489,315 547,961 552,097 790,055 590,118 599,835 695,720 975,802

M emoranda

Recoveries credited to reserve accounts (not included

in recoveries above):

On securities.......................................................................

On loans.........................................................

Losses charged to reserve accounts (not included in

losses above):

On securities.......................................................................

On loans......................................................

3,565

123,507

6,324 157,733

2,363

28,477

17,725

64,735

4,355

31,508

25,598

64,607

2,232

33,612

38,480

89,186

3,154

40,384

15,841

89,495

3,146

39,794

68,140

88,417

3,332

42,717

95,505

123,529

2,646

50,824

74,529

117,937

10,410

69,073

19,741

127,515

Average assets and liabilities2

Assets— total.................................................................

Cash and due from banks..............................................

United States Government obligations......................

Other securities.................................................................

Loans and discounts........................................................

All other assets..................................................................

Liabilities and capital— total................................

Total deposits....................................................................

Demand deposits.......................................................

Time and savings deposits.......................................

Borrowings and other liabilities...................................

Total capital accounts....................................................

158,986,894

36,006,423

63,846,830

11,043,342

46,250,272

1,840,027

169,207,394

40,373,273

59,711,922

12,554,632

54,533,221

2,034,346

179,803,463

42,952,808

61,065,059

13,562,462

59,999,743

2,223,391

185,685,283

43,192,523

60,868,295

14,082,070

65,213,144

2,329,251

193,339,614

42,976,798

64,372,065

15,209,165

68,148,039

2,633,547

202,331,676

43,510,745

63,808,049

16,294,075

75,800,688

2,918,119

209,712,780

45,728,691

58,257,149

16,179,498

86,291,628

3,255,814

214,790,440

45,474,318

57,238,574

16,725,206

91,493,989

3,858,353

228,359,687

46,766,041

62,355,819

19,237,561

95,666,835

4,333,431

158,986,894

146,269,294

109,822,638

86,446,656

1,710,204

11,007,396

169,207,394

155,460,465

118,189,171

87,271,294

2,131,162

11,615,767

179,803,463

165,031,495

125,213,842

39,817,653

2,501,055

12,270,913

185,685,283 

170,075,888 

127,028,332

US,047,556

2,667,917 

12,941,478

193,339,614

176,865,497

130,023,191

46,842,306

2,712,778

13,761,339

202,331,676

184,734,232

135,422,891

49,311,841

2,965,764

14,631,680

209,712,780 

190,786,522 

139,690,432

51,096,090

3,372,960 

15,553,298

214,790,440

193,993,484

139,023,597

54,969,887

4,242,293

16,554,663

228,359,687

206,196,015

143,813,475

62,382,540

4,440,097

17,723,575

Number of active officers, December 31......................

Number of other employees, December 31..................

71,566

312,324

73,806

334,961

76,754

358,325

79,574

376,750

82,167

386,625

84,931

408,791

88,462

433,563

91,597

452,218

95,308

457,023

Number of banks, December 31................................... 13,446 13,455 13,439 13,432 13,323 13,237 13,218 13,165 13,124

Note: Due to rounding differences, data may not add precisely to the indicated totals.

1 Revised.

2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1934-1949: See the following Annual Reports: 1950, pp. 250-251, and 1941, pp. 158-159. CD

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 113. R atios op E arnin g s, E xpenses, and D ividends of I nsured C ommercial Ban ks in the

U n ited S ta tes (C on tin en tal U. S. and O th er A reas), 1950-1958 co

00

Earnings or expense item 1950 1951 1952 1953 1954 1955 1956 1957 1958

Am ounts per $100 of current operating 

earnings

Current operating earnings—total......................... $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Interest on U. S. Government obligations.............. 25.83 22.38 22.29 22.01 22.04 20.91 18.57 17.92 18.16

Interest and dividends on other securities............... 5.74 5.68 5.62 5.43 5.63 5.51 5.12 5.12 5.91

Income on loans.......................................................... 51.08 55.17 56.46 57.55 56.52 57.96 61.03 61.65 60.48

Service charges on deposit accounts......................... 5.40 5.24 4.96 4.95 5.40 5.33 5.33 5.48 5.72

Other service charges, commissions, fees, and 

collection and exchange charges............................ 2.66 2.64 2.47 2.42 2.50 2.43 2.33 2.32 2.25

Other current operating earnings.............................. 9.29 8.89 8.20 7.64 7.91 7.86 7.62 7.51 7.48

Current operating expenses—total......................... 62.19 61.46 61.41 61.55 63.01 62.09 61.63 63.59 66.02

Salaries, wages, and fees............................................ 31.20 31.35 30.95 30.76 31.16 30.35 29.53 28.73 28.80

Interest on time and savings deposits...................... 8.73 8.77 9.29 9.75 10.71 10.63 11.14 14.18 16.24

Taxes other than on net income............................... 3.26 3.09 2.82 2.71 2.88 2.77 2.60 2.56 2.61

Recurring depreciation on banking house, furniture 

and fixtures............................................................... 1.51 1.50 1.52 1.53 1.64 1.70 1.77 1.82 1.98

Other current operating expenses.............................. 17.49 16.75 16.83 16.80 16.62 16.64 16.59 16.30 16.39

Net current operating earnings............................... 37.81 38.54 38.59 38.45 36.99 37.91 38.37 36.41 33.98

Am ounts per $100 of total assets1 

Current operating earnings—total................................ 2.47 2.60 2.74 2.96 2.98 3.15 3.45 3.74 3.72

Current operating expenses—total................................ 1.54 1.60 1.68 1.82 1.88 1.96 2.13 2.38 2.46

Net current operating earnings..................................... .93 1.00 1.06 1.14 1.10 1.19 1.32 1.36 1.26

Recoveries, transfers from reserve accounts, and 

profits—total................................................................ .16 .10 .08 .08 .33 .12 .12 .09 .38

Losses, charge-offs, and transfers to reserve accounts—total............................................................... .23 .23 .20 .24 .28 .35 .47 .35 .34

Net profits before income taxes..................................... .86 .87 .94 .98 1.15 .96 .97 1.10 1.30

Net profits after income taxes....................................... .59 .54 .55 .55 .68 .57 .58 .64 .75

Amounts per $100 of total capital accounts1

Net current operating earnings..................................... 13.50 14.58 15.51 16.29 15.52 16.52 17.84 17.71 16.30

Recoveries, transfers from reserve accounts, and 

profits—total................................................................ 2.23 1.46 1.17 1.18 4.59 1.64 1.61 1.20 4.89

Losses, charge-offs, and transfers to reserve ac3.33 3.41 2.95 3.46 4.02 4.83 6.39 4.58 4.42

Net profits before income taxes..................................... 12.40 12.63 13.73 14.01 16.09 13.33 13.06 14.33 16.77

3.89 4.81 5.66 6.08 6.59 5.43 5.24 6.03 7.17

Net profits after income taxes....................................... 8.51 7.82 8.07 7.93 9.50 7.90 7.82 8.30 9.60

3.55 3.61 3.60 3.66 3.76 3.87 3.96 4.10 4.09

Net additions to capital from profits............................ 4.96 4.21 4.47 4.27 5.74 4.03 3.86 4.20 5.51

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Special ratios1

Income on loans per $100 of loans................................

Income on U. S. Government obligations per $100

of U. S. Government obligations..............................

Income on other securities per $100 of other securities.

Service charges per $100 of demand deposits..............

Interest paid per $100 of time and savings deposits. .

4.34

1.59

2.04

.19

.94

4.45

1.65

1.99 .20

1.03

4.64

1.80

2.04 .20

1.15

4.84

1.98 2.11.21

1.24

4.79

1.98

2.14

.24

1.32

4.88

2.09

2.15

.25

1.38

5.11

2.31

2.29

.28

1.58

5.42

2.52

2.47

.32

2.08

5.37

2.48

2.61

.34 2.21

Assets and liabilities per $100 of total 

assets1

Assets— total.................................................................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Cash and due from banks.......................................... 22.65 23.86 23.89 23.26 22.23 21.51 21.81 21.17 20.48

United States Government obligations.................... 40.16 35.29 33.96 32.78 33.29 31.54 27.78 26.65 27.31 Other securities............................................................ 6.94 7.42 7.54 7.58 7.87 8.05 7.71 7.79 8.42

Loans and discounts................................................... 29.09 32.23 33.37 35.12 35.25 37.46 41.15 42.60 41.89 All other assets............................................................ 1.16 1.20 1.24 1.26 1.36 1.44 1.55 1.79 1.90

Liabilities and capital— total................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits.......................................................... 92.00 91.88 91.78 91.59 91.48 91.30 90.97 90.32 90.30

Demand deposits............................... 69.08 69.85 69.6k 68.U1 67.25 66.93 66.61 6 k.7 3 62.98

Time and savings deposits....................................... 22.92 22.03 22.1 k 23.18 2U.23 2U.37 2U.36 25.59 27.32

Borrowings and other liabilities................................ 1.08 1.26 1.39 1.44 1.40 1.47 1.61 1.97 1.94

Total capital accounts................................................ 6.92 6.86 6.83 6.97 7.12 7.23 7.42 7.71 7.76

Number of banks, December 31................................... 13,446 13,455 13,439 13,432 13,323 13,237 13,218 13,165 13,124

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 193k-19k9: See the following Annual Reports: 1950, pp. 252-253, and 1941, pp. 160-161.

CO

COEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BY CLASS OF BANK °

(Amounts in thousands of dollars)

T ab le 114. E a r nin g s, E xpenses, and D ividends of Insured C ommercial B a n k s in the

U nited States (C ontinental U. S. and Other A reas), 1958 o

Earnings or expense item Total

Members F. R. System Not

members Operating 

throughout 

the year

Operating 

less than 

full year1

National State

F. R.

System

8,500,949 4,523,156 2,602,326 1,375,467 8,433,232 67,717

1,544,023 836,524 429,356 278,143 1,534,490 9,533

501,978 266,878 144,444 90,656 498,895 3,083

5,046,782 2,729,561 1,515,197 802,024 5,024,221 22,561

94,674 50,307 30,587 13,780 94,368 306

Service charges on deposit accounts.......................................................................... 486,507 268,672 119,828 98,007 483,595 2,912

Other service charges, commissions, fees, and collection and exchange charges. 191,408 79,416 60,263

222,876

51,729 190,704 704

379,395 141,425 15,094 353,090 26,305

Other current operating earnings.............................................................................. 256,183 150,373 79,775 26,035 253,869 2,314

Current operating expenses—total......................................................................... 5,612,723 2,958,376 1,657,601 996,746 5,564,840 47,883

827,142 411,521 220,447 195,174 819,949 7,193

1,573,330 825,434 523,652 224,244 1,557,312 16,018

Fees paid to directors and members of executive, discount, and other committees 48,271 22,062 10,416 15,793 47,875 396

1,380,575 759,478 363,335 257,762 1,373,918 6,657

Interest and discount on borrowed money............................................................... 24,161 12,830 10,353 978 24,115 46

Taxes other than on net income................................................................................ 221,571 125,553 59,662 36,356 220,153 1,418

Recurring depreciation on banking house, furniture and fixtures.........................

Other current operating expenses..............................................................................

168,371 90,556 44,182 33,633 167,344 1,027

1,369,305 710,942 425,554 232,809 1,354,176 15,129

Net current operating earnings............................................................................... 2,888,223 1,564,780 944,725 378,718 2,868,389 19,834

Recoveries, transfers from reserve accounts, and profits—total....................

On securities:

868,115 460,825 316,552 90,738 861,347 6,768

9,646 5,526 2,631 1,489 9,385 261

Transfers from reserve accounts............................................................................ 57,145 33,078 21,183 2,884 57,133 12

Profits on securities sold or redeemed...................................................................

On loans:

681,554 352,977 258,531 70,046 676,161 5,393

22,439 11,209 4,635 6,595 22,309 130

Transfers from reserve accounts............................................................................ 42,158 27,554 12,125 2,479 41,935 223

55,176 30,481 17,447 7,248 54,427 749

Losses, charge-offs, and transfers to reserve accounts—total........................

On securities:

783,213 449,479 231,967 101,767 777,884 5,329

93,657 54,525 20,339 18,793 91,948 1,709

268,159 159,713 93,569 14,877 267,371 788

On loans: 25,053 11,472 3,635 9,946 24,258 795

282,227 157,275 83,538 41,414 281,598 629

114,117 66,494 30,886 16,737 112,709 1,408

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before incom e taxes.............................................

Taxes on net incom e—tota l........................................

Federal....................................................

2,973,128 1,576,126 1,029,310 367,692 2,951,855 21,273

1,271,459

1,198,890

72,570

688,682

657,039

31,643

459,718

424,450

35,268

123,059

117,401

5,659

1,261,379

1,189,662

71,718

10,080

9,228

852

Net profits after incom e taxes...................................

Dividends and interest on capital—total...............................

Dividends declared on preferred stock and interest on capital notes and 

debentures...............................................

1,701,667 887,444 569,592 244,631 1,690,474 11,193

725,866

2,366

723,500

392,218

169

392,049

253,940

1,397

252,543

79,708

800

78,908

719,729

2,361

717,368

6,137

5

6,132 Cash dividends declared on common stock.... 

Net additions to capital from profits............... 975,802 495,226 315,652 164,924 970,746 5,056

_ M emoranda

Recoveries credited to reserve accounts (not included in recoveries above): 

On securities......................................... 10,410

69,073

19,741

127,515

6,876

38,729

12,610

76,455

2,043

22,403

6,213

32,714

1,491

7,941

918

18,346

10,403

68,867

19,740

127,168

7

206

1

347

On loans......................................................

Losses charged to reserve accounts (not included in losses above): 

On securities.........................................

On loans......................................................

Average assets and liabilities2 

Assets—total................................................ 228,359,687

46,766,041

62,355,819

19,237,561

95,666,835

4,333,431

123,549,574

25,843,748

33,815,222

10,403,161

51,240,141

2,247,302

71,370,482

15,628,198

17,688,095

5,295,944

31,132,886

1,625,359

33,439,631

5,294,095

10,852,502

3,538,456

13,293,808

460,770

Cash and due from banks....................................

United States Government obligations............................

Other securities............................

Loans and discounts

All other assets.................................................

Liabilities and capital—total........................

Total deposits............................... 228,359,687

206,196,015

143,813,475

62,382,540

4,440,097

17,723,575

123,549,574

111,956,853

78,097,167

33,859,686

2,204,688

9,388,033

71,370,482

63,802,332

47,016,499

16,785,833

1,894,263

5,673,887

33,439,631

30,436,830

18,699,809

11,737,021

341,146

2,661,655

Demand deposits.......................

Time and savings deposits............................

Borrowings and other liabilities.....................

Total capital accounts....................................

Number of active officers, December 31..............

Number of other employees, December 31.........................

95,308

457,023

45,113

241,451

20,565

139,608

29,630

75,964

94,835

454,401

473

2,622

Number of banks, December 31........................ 13,124 4,578 1,730 6,816 13,027 97

Note: Due to rounding differences, earnings data of State banks not members F. R. System may not add precisely to the indicated totals.

* *ncl^ es operating less than full year and a few banks which engage primarily in fiduciary business. 2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1984-1957: See Table 112, pp. 196-197, the Annual Report for 1957, pp. 122-123, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN KS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BY CLASS OF BANK

T ab le 115. R atios of E arnin g s, E xpen ses, and D ividends of I nsured C ommercial Ba n k s in the

U n ited S ta tes (C on tin en tal U. S. and O th er A reas), 1958

Earnings or expense item Total

Members F. R. System Not

members

National State

F. R.

System

Am ounts per $100 of current operating earnings $100.00 $100.00 $100.00 $100.00

18.16 18.49 16.50 20.22

5.91 5.90 5.55 6.59

60.48 61.46 59.40 59.31

5.72 5.94 4.60 7.13

Other service charges, commissions, fees, and collection and exchange charges.......................................... 2.25

7.48

1.76

6.45

2.32

11.63

3.76

2.99

66.02 65.41 63.70 72.47

28.80 27.84 29.00 31.64

16.24 16.79 13.96 18.74

2.61 2.78 2.29 2.64

Recurring depreciation on banking house furniture and fixtures ............................................................ 1.98 2.00 1.70 2.45

16.39 16.00 16.75 17.00

33.98 34.59 36.30 27.53

Amounts per $100 of total assets1

3.72 3.66 3.65 4.11

2.46 2.39 2.32 2.98

1.26 1.27 1.33 1.13

Recoveries transfers from reserve accounts and profits—total ................................................................... .38 .37 .44 .27

Losses charge-offs and transfers to reserve accounts— total *.......................................................................

.34 .36 .33 .30

1.30 1.28 1.44 1.10

.75 .72 .80 .73

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

(2) .01 (2) (2)

.03 .03 .03 .02

Losses charged to reserve accounts (not included in losses above): .01 .01 .01 (2)

.06 .06 .05 .05

202 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Am ounts per $100 of total capital accounts1

Net current operating earnings......................................................... 16.30 1ft R7 i a Rt; 1 A OQ

Recoveries, transfers from reserve accounts, and profits—total.............. 4i89

4.42

16.77

10.0 4

4.91

4.79

16.79

10.00

5.58

4.09 18 1A.

14.Zo q 11

Losses, charge-offs, and transfers to reserve accounts—total. 0.41

3.83 Net profits before income taxes..................................... 1 Q 81 Taxes on net income................................ 7.17 7.34

10.14 lo.ol

A C9 Net profits after income taxes................... 9.60 9.45

8.10

in 4.b*I Q IQ Cash dividends declared............................. 4‘.09 

5.51

4.18

1U.U4 

A A8 i7.1M 9 OQ Net additions to capital from profits...................... 5.27 fi Ofl o.UvJ

_ Memoranda

Recoveries credited to reserve accounts (not included in recoveries above'): 

On securities........................... .06 07 (\A AC On loans................................ [39 • U 1 

At

.U4QO .Uo

Losses charged to reserve accounts (not included in losses above): 

On securities................................. .11

•41

IQ

.o» 

11

.30

no On loans........................................ .72

• lo 81 .11CO .Uo

•ol .00 .69

Special ratios1 

Income on loans per $100 of loans................ 5.37

2.48

5.43

2.47

A Q7 £ 1 A

Income on U. S. Government obligations per $100 of U. S. Government obligations.............................. 4.57 1

2.43

2.73

.25

0.14

2.56 Income on other securities per $100 9 KG. of other securities... 2.61

.34 2.21

2.57

.34

2.24

Service charges per $100 of demand deposits................

<i.OO

K9 Interest paid per $100 of time and savings deposits.............. 2 .16

.04 9U .Li 9n U

Assets and liabilities per $100 of total assets1 

Assets—total........................ 100.00 100.00 1 AA AA 1AA AA

Cash and due from banks............. 20*.48

27.31

8.42

20.92

lUU.UU

21.90

lUU.UU

1 £ 8Q United States Government obligations. . . 27^37

8.42

24’.78 

n ao

10.00

32.45 Other securities............................ 1 ft K8 Loans and discounts.......................... 41*89 41.47

i .‘±6 lU.Oo 

go HR All other assets............................. 1.90 1.82

4o .0^ 9 98 OX). ID 1 Q8

Liabilities and capital—total..........

U.&0 1.00

100.00

90.30

100.00

QO R9

mn no 1 aa ah

Total deposits...................

lUV.UV 8Q Aft lUU.UU

oi n 9

Demand deposits.............. 62.98

Su.Oii 0J7.4u yi.uz

rr o<a

Time deposits............................ 27.32

DO .tOJ. OO .ifZ

or 1 n

Borrowings and other liabilities............. 1.94

7.76

27.^1

1.78

7.60

tio .06

2.65

oo.10 1 ft9 Total capital accounts............................. 7.95

1 .\)6

7.96

Number of banks, December 31................ 13 124 4 578 1 7Qrt A 81 A 1, lOU 0,010

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year. 2 Less than .005.

Back figures, 1931+-1957: See Table 113, pp. 198-199, the Annual Report for 1957, pp. 124-125, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

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Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Table 116, Earnings, Expenses, and Dividends of Insured Commercial Banks Operating Throughout 1958

in the United States (Continental U. S. and Other Areas)

Banks with deposits of—2

Earnings or expense item All

banks1 Less

than

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

$100,000,000

to

$500,000,000

$500,000,000

or

more

Current operating earnings—tota l............. 8,433,232 38,113 160,796 574,324

(Amount

664,075

s in thousand 

912,770

Is of dollars) 

645,126 608,458 1,780,216 3,049,355

Interest on U- S. Government obligations. . 1,534,490

498,895

8,686 37,636 130,770 139,870 182,845 127,401 118,072 308,335 480,874

Interest and dividends on other securities. . 1,643 8,749 38,625 48,354 60,743 40,311 37,470 98,177 164,822

Interest and discount on loans...................... 5,024,221 23,154 95,128 337,418 389,139 530,427 372,225 355,143 1,053,511 1,868,077

Service charges and fees on bank’s loans---- 94,368 163 788 2,822 4,826 8,290 6,419 6,213 20,810 44,038

Service charges on deposit accounts............. 483,595 1,789 7,968 34,255 49,000 75,134 49,288 39,982 95,013 131,167

Other service charges, commissions, fees, 

and collection and exchange charges........ 190,704

353,090

2,144 8,062 20,185 17,501 20,916 13,971 11,686 32,137 64,102

Trust department............................................ 4 226 859 3,520 14,129 15,202 22,408 108,681 188,063

Other current operating earnings.................. 253,869 531 2,239 9,391 11,865 20,286 20,307 17,485 63,551 108,212

Current operating expenses—total............. 5,564,840 27,035 112,616 406,216 475,444 659,800 466,143 424,829 1,174,635 1,818,124

Salaries—officers.............................................. 819,949 10,571 36,195 101,795 92,984 106,263 66,980 58,384 150,060 196,715

Salaries and wages—employees...................... 1,557,312 3,238 16,006 73,815 102,791 164,367 123,542 119,847 365,246 588,461

Fees paid to directors and members of executive, discount, and other committees....... 47,875 785 3,164 10,399 8,835 8,452 4,106 2,898 5,590 3,648

Interest on time and savings deposits.......... 1,373,918 4,664 25,393 103,078 126,945 170,889 120,290 99,860 247,128 475,673

Interest and discount on borrowed money. . 24,115 22 82 321 423 834 724 1,158 5,500 15,053

Taxes other than on net income.................... 220,153 1,194 4,769 16,500 19,008 25,162 18,318 17,721 50,582 66,900

Recurring depreciation on banking house, 

furniture and fixtures.................................. 167,344 599 3,117 13,933 18,239 25,518 17,797 14,412 33,949

316,581

39,780

Other current operating expenses.................. 1,354,176 5,963 23,891 86,375 106,219 158,316 114,387 110,549 431,894

Net current operating earnings................... 2,868,389 11,078 48,180 168,108 188,631 252,970 178,983 183,629 605,580 1,231,231

Recoveries, transfers from reserve accounts, and profits—total...................... 861,347 1,384 5,601 25,990 42,881 74,108 68,408 64,583 200,384 378,008

On securities:

9,385 28 178 809 983 1,373 732 440 2,690 2,150

Transfers from reserve accounts................ 57,133 22 91 409 1,071

32,647

2,422 3,272 3,536 10,388 35,924

Profits on securities sold or redeemed. . . . 676,161 284 2,113 16,089 59,379 59,049 54,453 150,654 301,492

On loans:

22,309 851 2,450 5,428 3,732 2,427 800 571 4,103 1,946

Transfers from reserve accounts................ 41,935 33 173 1,008 1,419

3,030

2,746 1,505 2,063 9,566 23,423

54,427 165 596 2,247 5,761 3,051 3,520 22,983 13,073

Losses, charge-offs, and transfers to re777,884 2,197 9,909 39,920 51,174 69,282 55,361 60,008 181,787 308,247

On securities:

91,948 250 1,428 8,203 10,171 11,360 8,472 9,093 24,523 18,448

Transfers to reserve accounts.................... 267,371 46 321 2,436 4,693 11,757 12,703 17,743 56,663 161,009

On loans:

24,258 1,134 3,397 7,739 4,588 2,799 1,210 446 1,133 1,813

281,598 389 3,065 14,555 21,953 30,823 25,301 23,600 63,897 98,014

112,709 378 1,697 6,987 9,769 12,543 7,676 9,126 35,572 28,963

204 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Net profits before incom e taxes...................

Taxes on net incom e— tota l..........................

Federal.................................. ..........................

State..........................................................

Net profits after incom e taxes......................

Dividends and interest on capital—total..

Dividends declared on preferred stock and 

interest on capital notes and debentures. . 

Cash dividends declared on common stock..

Net additions to capital from profits.........

2,951,855 10,265 43,872 154,179 180,339 257,795 192,031 188,204 624,177 1,300,992

1,261,379

1,189,662

71,718

2,795

2,681

114

12,104

11,546

558

44,678

42,833

1,845

57,174

55,126

2,048

92,464

89,246

3,218

73,532

70,899

2,633

79,125

76,523

2,602

274,874

262,890

11,983

624,636

577,918

46,718

1,690,474 7,471 31,769 109,501 123,165 165,332 118,498 109,079 349,304 676,357

719,729

2,361

717,368

2,695

6

2,689

10,852

44

10,809

38,051

75

37,977

41,560

92

41,468

53,191

256

52,936

37,210

158

37,052

41,586

429

41,157

148,990

1,302

147,688

345.594

345.594

970,746 4,777 20,916 71,450 81,605 112,140 81,288 67,493 200,313 330,763

Memoranda 

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities.....................................................

On loans............................................................

Losses charged to reserve accounts (not included in losses above):

On securities.....................................................

On loans............................................................

10,403

68,867

19,740

127,168

1

164

10

223

15

1,118

19

1,838

114

4,468

132

8,206

519

5,597

378

12,410

573

7,344

385

16,633

853

4,257

533 10,221

1,150

4,484

1,228

12,788

6,640

10,513

3,925

24,158

538

30,922

13,132

40,693

Assets and liabilities2

Assets—tota l......................................................

Cash and due from banks..............................

United States Government obligations........

Other securities................................................

Loans and discounts........................................

All other assets.................................................

Liabilities and capital—total........................

Total deposits..................................................

Demand deposits...........................................

Time and savings deposits............................

Borrowings and other liabilities.....................

Total capital accounts....................................

236,846,721

48,671,663

65,621,608

20,221,897

97,896,588

4,434,965

1,000,236

201,302

341,029

67,580

384,266

6,059

4,273,634

802,115

1,494,120

342,526

1,601,323

33,550

15,726,171

2,873,813

5,277,263

1,600,515

5,808,721

165,859

17,984,448

3,182,843

5,815,505

2,025,604

6,727,430

233,066

24,373,705

4,333,764

7,818,227

2,565,274

9,281,151

375,289

17,331,371

3,058,954

5,504,099

1,691,782

6,778,718

297,818

16,825,485

3,225,491

5,048,692

1,597,575

6,670,987

282,740

50,205,137

11,095,510

13,391,397

3,908,414

20,897,429

912,387

89,126,534

19,897,871

20,931,276

6,422,627

39,746,563

2,128,197

236,846,721

214,660,077

11*9,162,888

65,1*97,191*

4,079,194

18,107,450

1,000,236

888,041

662,711

225,830

2,726

109,469

4,273,634

3,845,438

2,608,985

1,236,1*53

15,482

412,714

15,726,171

14,317,818 

9,25 U,181*

5,063,631*

70,074 

1,338,279

17,984,448

16,461,912

10,189,31*1*

6,322,568

127,113

1,395,423

24,373,705

22,359,793

13,783,319

8,576,1*71*

251,445

1,762,467

17,331,371

15,932,847

10,010,355

5,922,1*92

214,220

1,184,304

16,825,485

15,426,631

10,1*11,339

5,015,292

219,415

1,179,439

50,205,137

45,859,524 

31*,017,231

11,81*2,293

739,947 

3,605,666

89,126,534

79,568,073

58,275,1*15

21,292,658

2,438,772

7,119,689

Number of active officers, December 31..........

Number of other employees, December 3 1 ... .

94,835

454,401

2,786

1,896

7,340

7,320

16,578

28,307

12,582

35,594

12,253

53,675

6,921

38,773

5,768

37,386

14,021

106,230

16,586

145,220

Number of banks, December 31........................ 13,027 1,231 2,615 4,405 2,348 1,480 464 219 215 50

Note: Due to rounding differences, components may not add precisely to the indicated totals. 1 This group of banks is the same as the group shown in Table 114 under the heading “ Operating throughout the year.” 2 Asset and liability items are as of December 31, 1958. g 

Back figures, 191*1-1957: See the Annual Report for 1957, pp. 126-127, and earlier reports. Qt

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS 05

Table 117. Ratios of Earnings, Expenses, and Dividends of Insured Commercial Banks Operating Throughout 1958

in the U nited States (C ontinental U. S. and Other A reas) to

Banks with deposits of—2

Earnings or expense item All

banks1 Less

than

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

$100,000,000

to

$500,000,000

$500,000,000

or

more

Am ounts per $100 of current 

operating earnings 

Current operating earnings— total............. $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Interest on U. S. Government obligations. . 18.20 22.79 23.41 22.77 21.06 20.03 19.75 19.40 17.32 15.77

Interest and dividends on other securities. . 5.92 4.31 5.44 6.73 7.28 6.66 6.25 6.16 5.51 5.40

Income on loans............................................... 60.69 61.18 59.65 59.24 59.32 59.02 58.69 59.39 60.35 62.71

Service charges on deposit accounts............. 5.73 4.69 4.96 5.96 7.38 8.23 7.64 6.57 5.34 4.30

Other service charges, commissions, fees,

and collection and exchange charges........ 2.26 5.63 5.01 3.51 2.64 2.29 2.17 1.92 1.81 2.10

Other current operating earnings.................. 7.20 1.40 1.53 1.79 2.32 3.77 5.50 6.56 9.67 9.72

Current operating expenses— total............. 65.99 70.93 70.04 70.73 71.59 72.29 72.26 69.82 65.98 59.62

Salaries, wages, and fees................................

Interest on time and savings deposits..........

28.76 38.29 34.43 32.39 30.81 30.57 30.17 29.77 29.26 25.87

16.29 12.24 15.79 17.95 19.11 18.72 18.65 16.41 13.88 15.60

Taxes other than on net income. .................. 2.61 3.13 2.97 2.87 2.86 2.76 2.84 2.91 2.84 2.19

Recurring depreciation on banking house,

furniture and fixtures.................................. 1.99 1.57 1.94 2.43 2.75 2.80 2.76 2.37 1.91 1.30

Other current operating expenses.................. 16.34 15.70 14.91 15.09 16.06 17.44 17.84 18.36 18.09 14.66

Net current operating earnings,. . . . . . . . . . 34.01 29.07 29.96 29.27 28.41 27.71 27.74 30.18 34.02 40.38

Am ounts per $100 of total assets2

Current operating earnings—total....................

Current operating expenses—total....................

Net current operating earnings.........................

3.56 3.81 3.76 3.65 3.69 3.74 3.72 3.62 3.55 3.42

2.35 2.70 2.63 2.58 2.64 2.70 2.69 2.53 2.34 2.04 1.21 1.11 1.13 1.07 1.05 1.04 1.03 1.09 1.21 1.38

Recoveries, transfers from reserve accounts,

and profits—total........................................ .36 .14 .13 .16 .23 .30 .39 .38 .39 .42

Losses, charge-offs, and transfers to reserve

accounts—total............................................ .32 .22 .23 .25 .28 .28 .31 .35 .36 .34

Net profits before income taxes......................... 1.25 1.03 1.03 .98 1.00 1.06 1.11 1.12 1.24 1.46

Net profits after income taxes........................... .71 .75 .74 .70 .68 .68 .68 .65 .70 .76

Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

(3) (3) (3) (3) (3) (3) (3) .01 .01 (3)

.03 .02 .03 .03 .03 .03 .02 .03 .02 .03

Losses charged to reserve accounts (not included in losses above): .01 (3) (3) (3) (3) (3) (3) .01 .01 .01

.05 .02 .04 .05 .07 .07 .06 .08 .05 .05

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Am ounts per $100 of total capital 

accounts2

Net current operating earnings..........................

Recoveries, transfers from reserve accounts,

and profits—total........................................

Losses, charge-offs, and transfers to reserve

accounts—total............................................

Net profits before income taxes.........................

Taxes on net income...........................................

Net profits after income taxes...........................

Cash dividends declared.....................................

Net additions to capital from profits................

15.84

4.76

4.30

16.30

6.96

9.34

3.98

5.36

10.12

1.26

2.00

9.38

2.56

6.82

2.46

4.36

11.67

1.36

2.40

10.63

2.93

7.70

2.63

5.07

12.56

1.94

2.98

11.52

3.34 

8.18 

2.84

5.34

13.52

3.07

3.67

12.92

4.09

8.83

2.98

5.85

14.35

4.21

3.93

14.63

5.25

9.38

3.02

6.36

15.11

5.78

4.68

16.21 6.21 10.00

3.14 6.86

15.57

5.48

5.09

15.96

6.71 

9.25 

3.53

5.72

16.80

5.55

5.04

17.31

7.62

9.69

4.13

5.56

17.29

5.31

4.33

18.27

8.77

9.50

4.85

4.65

Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities..................................................... .06 (3) (3) .01 .04 .03 .07 .10 .18 .01

On loans............................................................ .38 .15 .27 .33 .40 .42 .36 .38 .29 .43

Losses charged to reserve accounts (not included in losses above):

On securities..................................................... .11 .01 (3) .01 .03 .02 .05 .10 .11 .18

On loans............................................................ .70 .20 .45 .61 .89 .94 .86 1.08 .67 .57

Special ratios2

Income on loans per $100 of loans.................... 5.23 6.07 5.99 5.86 5.86 5.80 5.59 5.42 5.14 4.81

Income on U. S. Government obligations per

$100 of U. S. Government obligations.... 2.34 2.55 2.52 2.48 2.41 2.34 2.31 2.34 2.30 2.30

Income on other securities per $100 of other

securities....................................................... 2.47 2.43 2.55 2.41 2.39 2.37 2.38 2.35 2.51 2.57

Service charges per $100 of demand deposits. . .32 .27 .31 .37 .48 .55 .49 .38 .28 .23

Interest paid per $100 of time and savings

deposits......................................................... 2.10 2.07 2.05 2.04 2.01 1.99 2.03 1.99 2.09 2.23

Assets and liabilities per $100 of 

total assets2

Assets— tota l...................................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Cash and due from banks.............................. 20.55 20.12 18.77 18.27 17.70 17.78 17.65 19.17 22.10 22.32

United States Government obligations......... 27.71 34.09 34.96 33.56 32.34 32.08 31.76 30.01 26.67 23.48

Other securities................................................ 8.54 6.76 8.01 10.18 11.26 10.52 9.76 9.49 7.79 7.21

Loans and discounts........................................ 41.33 38.42 37.47 36.94 37.41 38.08 39.11 39.65 41.62 44.60

All other assets................................................ 1.87 .61 .79 1.05 1.29 1.54 1.72 1.68 1.82 2.39

Liabilities and capital— total........................ 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits................................................... 90.63 88.78 89.98 91.04 91.53 91.74 91.93 91.69 91.35 89.27

Demand deposits........................................... 62.98 66.25 61.05 58.84 56.38 56.55 57.76 61.88 67.76 65.38

Time deposits................................................ 27.65 22.58 28.93 32.20 35.15 35.19 34.17 29.81 23.59 23.89

Borrowings and other liabilities..................... 1.72 .27 .36 .45 .71 1.03 1.24 1.30 1.47 2.74

Total capital accounts.................................... 7.65 10.95 9.66 8.51 7.76 7.23 6.83 7.01 7.18 7.99

Number of banks, December 31........................ 13,027 1,231 2,615 4,405 2,348 1,480 464 219 215 50

1 This group of banks is the same as the group shown in Table 114 under the heading “ Operating throughout the year.” These ratios differ slightly from the ratios for all insured ^ 

commercial banks shown in Tables 113 and 115. O 2 Asset and liability items are as of December 31, 1958.

* Less than .005.

Bach figures, 1941-1957: See the Annual Report for 1957, pp. 128-129, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 8 . E a r n i n g s , E x p e n s e s , a n d D iv id e n d s o p I n s u r e d C o m m e r c ia l B a n k s in t h e

U n it e d S t a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s ), b y St a t e , 1958

(Amounts in thousands of dollars)

Earnings or expense item

U. S.

(continental 

U. S.and 

other 

areas) Alaska

Other areas

Puerto

Rico Other1

Continental

United

States

Alabama Arizona Arkansas California Colorado

Connecticut

Current operating earnings—total............. 8,500,949 7,741 15,344 3,859 8,474,005 78,986 51,174 43,036 990,970 76,337 102,497

Interest on U. S. Government obligations. . 1,544,028 1,303 936 652 1,541,132 13,931 5,609 8,357 150,359 13,790 15,444

Interest and dividends on other securities. . 501,978 355 1,191 323 500,109 5,860 2,118 4,006 50,071 2,493 5,559

Interest and discount on loans...................... 5,046,782 4,215 10,461 2,190 5,029,916 48,011 33,346 24,304 621,606 46,421 58,670

Service charges and fees on bank’s loans.. . 94,674 396 483 167 93,628 603 1,638 89 21,506 752 612

Service charges on deposit accounts.......... 486,507 586 438 236 485,247 4,860 4,110 2,696 75,754 7,210 7,353

Other service charges, commissions, fees,

and collection and exchange charges........ 191,408 707 1,587 205 188,909 2,083 1,275 2,202 17,652 1,559 2,007

Trust department............................................ 379,395 48 8 379,339 1,717 898 397 29,322 2,702 9,810

Other current operating earnings.................. 256,183 132 239 87 255,725 1,923 2,180 986 24,700 1,410 3,043

Current operating expenses—total............. 5,612,723 5,877 12,529 2,925 5,591,392 51,774 36,038 29,510 693,032 51,881 73,126

Salaries—officers.............................................. 827,142 1,094 1,541 384 824,123 9,772 5,183 6,819 71,964 9,137 11,740

Salaries and wages—employees...................... 1,573,330 1,857 3,459 819 1,567,195 13,149 11,086 6,574 189,095 14,168 23,462

Fees paid to directors and members of executive, discount, and other committees........ 48,271 28 151 56 48,036 585 60 644 1,088 665 583

Interest on time and savings deposits.......... 1,380,575 933 3,180 859 1,375,603 12,575 6,497 5,250 269,483 12,146 12,246

Interest and discount on borrowed money. . 24,161 65 24,096 51 34 29 2,371 112 344

Taxes other than on net income.................... 221,571 148 787 57 220,579 817 729 1,129 22,195 862 2,248

Recurring depreciation on banking house,

furniture and fixtures.................................. 168,371 323 395 87 167,566 1,636 1,489 1,199 13,612 1,375 2,294

Other current operating expenses.................. 1,369,305 1,495 2,950 665 1,364,195 13,190 10,961 7,866 123,225 13,418 20,209

Net current operating earnings................... 2,888,223 1,864 2,814 932 2,882,613 27,212 15,136 13,525 297,937 24,455 29,372

Recoveries, transfers from reserve accounts, and profits—total...................... 868,115 202 433 196 867,284 7,424 4,317 3,666 98,813 6,719 7,321

On securities:

Recoveries................................................... 9,646 9,646 215 194 4 149 43 42

Transfers from reserve accounts................ 57,145 1 57,144 55 173 120 12,702 181 112

Profits on securities sold or redeemed... . 681,554 66 331 122 681,035 6,284 3,677 2,396 76,382 3,994 6,084

On loans:

Recoveries..................................................... 22,439 96 5 50 22,288 398 4 356 944 450 83

Transfers from reserve accounts................ 42,158 42 13 42,103 90 27 38 3,811 142 232

All other............................................................ 55,176 40 56 11 55,069 382 242 753 4,825 1,909 769

Losses, charge-offs, and transfers to reserve accounts—tota l.............................. 783,213 812 572 259 781,570 6,680 5,842 3,573 91,477 7,159 8,465

On securities:

Losses and charge-offs................................. 93,657 310 48 136 93,163 672 475 642 4,560 1,530 1,151

Transfers to reserve accounts..................... 268,159 233 24 267,902 400 2,400 693 36,170 783 1,945

On loans:

Losses and charge-offs................................. 25,053 128 29 22 24,874 531 83 677 747 406 175

Transfers to reserve accounts..................... 282,227 332 205 60 281,630 3,235 1,994 905 41,351 2,552 3,466

114,117 42 56 17 114,002 1,842 890 657 8,649 1,888 1,728

Net profits before incom e taxes................... 2,973,128 1,255 2,676 870 2,968,327 27,956 13,611 13,618 305,273 24,016 28,228

208 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e—tota l............................

Federal....................................................................

State........................................................................

Net profits after incom e taxes......................

Dividends and interest on capital—total.

Dividends declared on preferred stock and

interest on capital notes and debentures. .

Cash dividends declared on common stock..

Net additions to capital from p rofits.. ..

1,271,459

1,198,890

72,570

756

739

17

348

303

45

210

195

15

1,270,145

1,197,653

72,493

10,146

9,152

994

6,865

6,379

487

4.054

4.054

140,848

125,185

15,664

9,370

8,578

792

12,005

10,569

1,436

1,701,667 499 2,327 659 1,698,182 17,810 6,746 9,564 164,425 14,646 16,223

725,866

2,366

723,500

287 996 218 724,365

2,366

721,999

5,617 3,482 4,038 83,338

52

83,286

5,201 8,878

287 996 218 5,617 3,482 4,037 5,201 8,878

975,802 212 1,331 442 973,817 12,193 3,264 5,526 81,088 9,445 7,345

^ M emoranda 

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 10,410

69,073

19,741

127,515

8

29

19

10,402

68,571

19,712

126,818

6

253

13

748

637

6,729

5,815

12,764

26

1,534

2

1,893

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

139 363 689 618

193

1,777

581

7

On loans.................................................................. 238 440 1,724 1,678

Average assets and liabilities2

Assets— total...........................................................

Cash and due from banks..............................

United States Government obligations........

Other securities................................................

Loans and discounts........................................

Ail other assets.................................................

Liabilities and capital— total......................

Total deposits...................................................

Demand deposits...........................................

Time and savings deposits...........................

Borrowings and other liabilities......................

Total capital accounts........................................

228,359,687

46,766,041

62,355,819

19,237,561

95,666,835

4,333,431

157,989

28,934

55,847

13,527

56,289

3,392

290,970

40,095

38,242

41,524

160,573

10,536

87,178

14,144

24,975

10,531

35,842 1,686

227,823,550

46,682,868

62,236,755

19,171,979

95,414,131

4,317,817

2,020,073

443,733

543,131

235,539

768,222

29,448

1,054,147

181,556

223,136

74,485

541,789

33,181

1,185,498

289,720

317,225

149,626

414,009

14,918

23,691,676

3,877,000

6,105,204

1,996,203

11,164,873

548,396

1,902,644

438,863

554,962

93,688

791,950

23,181

2,467,737

469,980

645,083

261,445

1,047,316

43,913

228,359,687

206,196,015

143,813,475

62,382,540

4,440,097

17,723,575

157,989

148,344 

91,741

56,603

695 

8,950

290,970

259,965

127,283

132,682

7,918

23,087

87,178

80,643

41,602

39,041

990

5,545

227,823,550

205,707,063

143,552,849

62,154,214

4,430,494

17,685,993

2,020,073

1,839,615 

1,335,542

504,073

20,142 

160,316

1,054,147

965,383 

671,293

294,090

19,621 

69,143

1,185,498

1,079,241

849,735

229,506

5,666

100,591

23,691,676

21.563.122

11,359,000

10.204.122

655,306

1,473,248

1,902,644

1,741,570

1,257,892

483,678

24,412

136,662

2,467,737

2,231,597

1,671,069

557,528

41,437

194,703

Number of active officers, December 31..........

Number of other employees, December 3 1 ...

95,308

457,023

90

444

259

1,398

49

275

94,910

454,906

1,273

4,463

568

3,434

1,056

2,393

7,971

48,756

1,058

4,405

1,108

6,845

Number of banks, December 31........................ 13,124 13 7 5 13,099 239 7 232 119 157 70

Note: Due to rounding differences, components may not add precisely to the indicated totals. 1 Includes 3 banks in Hawaii, and 2 banks in the Virgin Islands. 2 Asset and liability items are averages of figures reported at beginning, middle, and end of year, adjusted to exclude data for 2 insured branches in Guam of an insured bank in 

California and 13 insured branches In Puerto Rico of insured banks in New York; earnings data of these branches are not available.

Back figures, 1946-1957: See the Annual Report for 1957, pp. 130-139, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 209

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars) h-*

________________________________________________ __________________ ___________________________________________________________________________ ©

T a b le 118. E ar nin g s, E xpen ses, and D ividends of I nsured C ommercial Ban ks in the

U n ited S ta te s (C o n tin en ta l U. S. and O th er A reas), by S ta te, 1958—Continued

Earnings or expense item Delaware District of 

Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana

Current operating earnings—total............. 29,493 54,477 173,680 121,184 27,226 579,156 168,737 114,874 83,251 81,797 104,824

Interest on U. S. Government obligations.. 5,411 11,785 36,658 18,902 5,374 147,728 42,466 24,608 18,940 19,105 22,061

Interest and dividends on other securities. . 1,027 1,872 9,154 5,411 1,060 41,199 7,205 7,184 7,029 4,129 7,274

Interest and discount on loans...................... 16,693 30,968 95,991 73,971 16,426 305,798 96,845 68,978 45,782 48,530 59,907

Service charges and fees on bank’s loans.. . 517 333 2,949 1,618 415 4,909 1,006 329 403 659 599

Service charges on deposit accounts.......... 691 3,888 15,373 8,733 2,581 24,754 8,475 7,400 6,469 3,529 6,592

Other service charges, commissions, fees, 

and collection and exchange charges........ 271 1,190 4,449 5,409 679 7,807 3,746 2,948 1,496 1,218 4,168

4,592 3,018 4,007 3,792 125 33,345 4,242 1,259 764 3,072 817

Other current operating earnings.................. 291 1,423 5,100 3,348 567 13,617 4,752 2,169 2,370 1,554 3,406

Current operating expenses—total............. 16,946 37,371 122,670 86,245 18,561 360,119 116,527 77,726 54,545 51,000 72,998

Salaries—officers.............................................. 3,147 5,433 17,932 14,855

21,873

3,175

4,427

55,938 19,907 18,933 14,026 10,836 11,838

Salaries and wages—employees..................... 5,540 11,626 33,799 103,007 31,577 15,898 11,891 12,835 18,825

Fees paid to directors and members of executive, discount, and other committees........ 268 3S2 1,323 1,095 105 3,247

82,759

1,559 836 878 905 994

Interest on time and savings deposits.......... 2,345 7,867

158

27,964 16,309 5,828 23,752 18,412 9,684 8,581 14,370

Interest and discount on borrowed money. . 49 362 371 31 1,510 88 153 99 127 282

Taxes other than on net income. .................. 415 2,080 3,307 4,956 349 14,270 7,230 2,661 2,332 3,067 6,129

Recurring depreciation on banking house, 

furniture and fixtures.................................. 571 1,124 6,232 3,224 698 8,202 3,755 2,121 1,826 1,407 2,281

Other current operating expenses.................. 4,612 8,691 31,752 23,562 3,950 91,187 28,660 18,713 13,809 13,242 18,281

Net current operating earnings................... 12,548 17,106 51,010 34,939 8,665 219,036 52,210 37,149 28,706 30,797 31,826

Recoveries, transfers from reserve accounts, and profits—total...................... 3,141 2,435 13,656 14,503 4,223 99,935 21,866 10,658 5,752 7,969 7,708

On securities:

27 1 56 239 1 2,490 206 322 100 88 62

Profits on securities sold or redeemed. . . . 2,730

107

1,935

508 11,666 51

12,116 4,081

6,193

86,896

1,719

18,102

20

9,130

180

3,969

670 6,010 314

6,321

On loans:

17 68 273 453 64 697 211 350 1,106 314 303

Transfers from reserve accounts................ 260 143 155 176 1,011

2,648

946 225 115 551 417

107 181 998 1,469 78 682 611 283 336 290

Losses, charge-offs, and transfers to reserve accounts—to ta l.............................. 2,426 4,854 12,981 8,938 560 79,184 17,161 7,580 7,253 8,216 8,245

On securities:

254 345 1,429 1,271 223 11,404 2,888 1,805 2,098 924 696

Transfers to reserve accounts....................

On loans:

Losses and charge-offs.................................

135

24

363

172

1,448

516

2,169

554 92

35,734

1,980

4,934

381

740

581

261

1,414

2,952

559

2,650

351

Transfers to reserve accounts.................... 626 1,223 8,043 3,146 168 21,182 4,718 2,920 2,084 2,217 2,957

1,387 2,751 1,545 1,799 77 8,884 4,240 1,535 1,396 1,563 1,591

Net profits before incom e taxes................... 13,262 14,687 51,685 40,504 12,328 239,787 56,915 40,226 27,206 30,550 31,289

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e—tota l..........................

Federal..............................................................

6,295

6,069

226

8.380

8.380

20.246

20.246

15.067

15.067

4,041

3,617

425

102.384

102.384

22.307

22.307

12,081

12,081

8.335

8.335

12.895

12.895

12.653

12.653

-Net profits after incom e taxes......................

Dividends and interest on capital—total.

-Dividends declared on preferred stock and 

interest on capital notes and debentures. . 

CJstsh dividends declared on common stock, .

Net additions to capital from profits... .

6,967 6,307 31,440 25,437 8,287 137,403 34,608 28,145 18,872 17,655 18,636

3.739

3.739

4.764

4.764

8,299

35

8,264

9,162

5

9,157

1.914

1.914

41,120

71

41,049

9,813

9

9,804

7,756

45

7,712

5,369

1

5,368

6,376

5

6,371

5,896

3

5,893

3,228 1,543 23,141 16,275 6,373 96,283 24,794 20,388 13,503 11,279 12,740

Memoranda 

Recoveries credited to reserve accounts (not 

included in recoveries above):

85

785

10

3,002

2,042

6,284

1,017

14,684

126

1,298

209

2,699

3

574

6

1,055

82

1,045

16

1,758

423

456

278

1,317

9

618

49

1,223

On loans............................................................

Losses charged to reserve accounts (not included in losses above):

On securities.....................................................

96 69 992

380

3,895

126

On loans............................................................ 282 243 136

Average assets and liabilities1 

Assets— tota l......................................................

Cash and due from banks..............................

United States Government obligations........

Other securities................................................

Loans and discounts........................................

All other assets.................................................

Liabilities and capital— tota l.......................

Total deposits...................................................

Demand deposits...........................................

Time and savings deposits...........................

Borrowings and other liabilities....................

Total capital accounts....................................

714,289

117,560

224,964

39,525

319,953

12,287

1,582,293

332,312

495,407

68,334

655,548

30,692

4,588,541

1,042,779

1,498,660

364,876

1,587,943

94,283

2,830,356

643,457

739,016

198,679

1,199,321

49,883

638,697

100,805

216,682

42,748

269,173

9,289

17,828,811

3,588,053

5,993,642

1,598,650

6,485,223

163,243

4,732,671

949,633

1,751,735

302,110

1,674,159

55,034

3,159,425

590,219

957,930

305,404

1,280,462

25,410

2,294,203

473,625

706,047

285,733

805,731

23,067

2,329,199

558,965

737,853

137,578

873,725

21,078

2,985,978

731,867

871,248

285,468

1,050,539

46,856

714,289

637,688

4-98,603

139,085 10,022

66,579

1,582,293 

1,453,513 

1,078,859

37k, 65k

17,675 

111,105

4,588,541

4,228,489

3,088,klk

l,lk0,075

53,077

306,975

2,830,356

2,554,468 

1,931,8kl

622,627

41,623 

234,265

638,697

591,775 

380, k62

211,313

7,358 

39,564

17,828,811

16,320,870 

11,556,3k6

k,76k,52k

224,848 

1,283,093

4,732,671

4,339,552

2,967,367

1,372,185

47,213

345,906

3,159,425

2,889,329

2,0k9,30k

8k0,025

11,867

258,229

2,294,203 

2,093,355 

l,6k0,02k

k53,331

13,483 

187,365

2,329,199 

2,115,984 

1,681,537

k3k M 7

20,815 

192,400

2,985,978

2,746,511

2,166,82k

579,687

27,599 211,868

Number of active officers, December 31..........

Number of other employees, December 31.. .

312

1,644

489

3,380

2,177

11,358

1,897

7,193

370

1,472

5,696

28,146

2,489

9,993

2,556

5,666

2,101

4,297

1,691

4,697

1,341

5,934

Number of banks, December 31........................ 26 13 275 356 28 940 452 628 557 349 185

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 19^6-1957: See the Annual Report for 1957, pp. 130-139, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 211

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 8 . E a r n in g s , E x p e n s e s , an d D iv id e n d s of I n su r e d C o m m e r c ia l B a n k s in th e

U n it e d St a t e s (C o n t in e n t a l U. S. a n d Oth e r A r e a s ), b y St a t e , 1958— C ontinued

(Amounts in thousands of dollars)

Earnings or expense item Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New

Hampshire

Current operating earnings—total............. 27,329 83,713 229,743 335,783 169,039 48,378 204,265 33,879 57,862 16,204 15,759

Interest on U. S. Government obligations. . 4,348 18,368 34,444 73,529 29,993 8,379 44,634 7,312 12,802 3,030 2,146

Interest and dividends on other securities.. 1,097 4,993 8,993 20,896 10,751 5,095 13,335 2,185 2,982 986 826

Interest and discount on loans...................... 18,139 46,195 131,363 196,488 97,801 26,486 122,244 19,263 34,645 9,480 10,368

Service charges and fees on bank’s loans.. . 174 496 1,608 4,878 1,040 95 1,136 401 117 471 112

Service charges on deposit accounts.......... 1,740 7,019 15,432 17,794 11,040 3,063 9,613 2,599 3,720 981 1,422

Other service charges, commissions, " fees, 

and collection and exchange charges........ 448 1,988 7,271 6,082 10,059 3,135 3,016 986 1,250 512 293

Trust department............................................ 906 2,318 20,693 10,189 4,643 322 5,297 164 790 415 274

Other current operating earnings.................. 477 2,336 9,939 5,927 3,712 1,801 4,990 968 1,556 329 318

Current operating expenses—total............. 20,622 57,721 141,263 231,433 117,380 34,515 126,222 23,046 36,206 11,263 11,590

Salaries—officers.............................................. 2,802 7,578 21,620

50,130

27,294 22,662 7,168 23,138 4,404 10,641 1,882 1,928

Salaries and wages—employees...................... 5,359 16,986 68,388 27,831 7,823 35,251 5,151 8,825 2,932 2,551

Fees paid to directors and members of executive, discount, and other committees........ 261 693 1,152 1,652 1,429 574 1,589 183 660 22 195

Interest on time and savings deposits.......... 5,835 13,684 14,084 63,442 30,489 6,469 23,181 4,798 2,509 3,532 2,898

Interest and discount on borrowed money. . 32 161 590 951 438 75 416 28 289 2 39

Taxes other than on net income.................... 806 2,815 5,456 11,161 2,274 1,696 4,679 1,803 1,403 460 353

Recurring depreciation on banldng house, 

furniture and fixtures.................................. 751 1,652 5,314 6,756 2,575 912 3,854 713 1,020 349 376

Other current operating expenses.................. 4,778 14,151 42,916 51,789 29,683 9,798 34,115 5,967 10,859 2,086 3,252

Net current operating earnings................... 6,708 25,993 88,480 104,350 51,659 13,863 78,043 10,832 21,655 4,941 4,170

Recoveries, transfers from reserve accounts, and profits—total...................... 2,098 7,749 34,231 33,993 14,877 2,981 23,855 5,823 4,728 1,618 1,619

On securities:

Recoveries..................................................... 33 61 280 342 141 288 108 128 96 290

Transfers from reserve accounts................ 51 47 1,070 4,906

24,002

28 342 653 2,250 322 256 7

Profits on securities sold or redeemed.. .. 1,639 7,310 22,768 11,822 1,166 21,761 2,482 3,492 1,337 1,154

On loans:

Recoveries..................................................... 101 172 286 182 619 340 531 582 293 1 52

Transfers from reserve accounts................ 93 12 7,631

2,196

1,252

3,310

649 213 245 157 281 13

All other............................................................ 180 147 1,619 632 557 225 245 24 104

Losses, charge-offs, and transfers to reserve accounts—tota l.............................. 3,266 7,703 31,621 32,234 7,762 5,922 20,019 2,936 5,944 1,891 1,577

On securities:

Losses and charge-offs................................. 479 1,924 1,980 3,646 1,676 991 3,114 469 723 503 550

Transfers to reserve accounts..................... 332 1,742 11,337 12,859 753 1,097 10,469 406 1,450 944 289

On loans:

Losses and charge-offs................................. 71 195 520 388 665 476 728 582 436 6 144

Transfers to reserve accounts..................... 1,133 1,785 13,777 8,486 2,790 2,509 4,077 1,152 2,032 345 391

All other............................................................ 1,252 2,057 4,008 6,856 1,877 849 1,631 328 1,303 94 203

Net profits before incom e taxes................... 5,539 26,039 91,090 106,109 58,775 10,922 81,878 13,719 20,440 4,668 4,212

212 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— tota l............................

Federal....................................................................

State........................................................................

2.545

2.545

11.232

11.232

47,073

39,496

7,577

41.668

41.668

23,576

20,055

3,522

3.053

3.053

36,203

34,991 1,212

4,349

4,191

158

7.224

7.224

1.894

1.894

964

964

Net profits after incom e taxes......................

Dividends and interest on capital—total.

Dividends declared on preferred stock and

interest on capital notes and debentures..

Cash dividends declared on common stock..

Net additions to capital from p rofits.. . .

2,994 14,807 44,017 64,442 35,198 7,868 45,675 9,370 13,216 2,774 3,248

1,866

5

1,861

6,221

3

6,218

22,635

12

22,623

22,793

159

22,634

12,526

12

12,515

3,185

12

3,173

16,352

33

16,319

2.709

2.709

4.771

4.771

1.521

1.521

965

965

1,128 8,586 21,382 41,649 22,672 4,684 29,323 6,662 8,445 1,253 2,283

M emoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 10

262

128

577

1,475

2,781

44

3,641

8

653

1

1,137

75

312

69

992

119

1,129

221

2,183

1

447

28

656

408

731

3

888

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

On loans.................................................................

257

67

710

3,299

1,215

5,206

98

255

105

305

Average assets and liabilities1 

Assets—total......................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities.....................................................

Loans and discounts............................................

Ail other assets.....................................................

Liabilities and capital—total........................

Total deposits........................................................

Demand deposits...........................................

Time and savings deposits............................

Borrowings and other liabilities.......................

Total capital accounts........................................

635,383

106,636

181,122

44,765

290,438

12,422

2,322,477

468,150

748,062

201,585

866,485

38,195

5,627,511

1,204,894

1,358,682

382,419

2,557,669

123,847

8,746,666

1,424,091

2,944,105

822,868

3,431,689

123,913

4,243,205

868,315

1,170,858

397,752

1,748,226

58,054

1,233,257

276,365

310,059

188,875

436,646

21,312

6,206,244

1,423,867

1,836,570

513,389

2,369,804

62,614

822,036

155,947

277,083

75,883

302,086

11,037

1,647,891

372,962

508,658

129.075

622.075 

15,121

377,480

50,804

119,740

38,993

159,280

8,663

368,719

70,274

88.427

29.427 

175,027

5,564

635,383 

571,654 

321*,561

21*7,093

7,593 

56,136

2,322,477

2,128,194

1,509,206

618,988

25,361

168,922

5,627,511 

4,986,263 

1*,21*5,1*67

71*0,796

131,325 

509,923

8,746,666

8,001,329

1*,U2,689

3,558,61*0

134,351

610,986

4,243,205

3,867,034 

2,521*,11*U

1,31*2,890

52,008 

324,163

1,233,257

1,133,876

866,011

267,865

8,096

91,285

6,206,244

5,677,915 

1*,1*25,899

1,252,016

64,178 

464,151

822,036

764,710

51*7,381

217,329

9,098

48,228

1,647,891

1,489,761

1,319,1*53

170,308

20,649

137,481

377,480 

350,181 

214,17 A

136,007

5,074 

22,225

368,719

327,913

222,61*0

105,273

3,170

37,636

Number of active officers, December 31..........

Number of other employees, December 3 1 ...

394

1,891

1,025

5,629

2,184

14,996

2,708

19,710

3,043

9,058

998

2,776

3,047

11,736

553

1,648

1,466

3,131

218

900

291

914

Number of banks, December 31........................ 49 141 165 391 676 191 595 114 384 6 66

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 191*6-1957: See the Annual Report for 1957, pp. 130-139, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 213

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 8 . E a r n in g s , E x p e n s e s , a n d D iv id e n d s of I n s u r e d C o m m e r c ia l B a n k s in t h e

U n it e d S t a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s ), b y S t a t e , 1958— C ontinued

(Amounts in thousands of dollars)

Earnings or expense item New

Jersey

New

Mexico

New

York

North

Carolina

North

Dakota Ohio Oklahoma Oregon Pennsylvania Rhode

Island

South

Carolina

Current operating earnings—tota l..............

Interest on U. S. Government obligations. . 

Interest and dividends on other securities. .

Interest and discount on loans......................

Service charges and fees on bank’s loans.. .

Service charges on deposit accounts..........

Other service charges, commissions, fees,

and collection and exchange charges........

Trust department................ ............... ...........

Other current operating earnings..................

266,032

48,331

24,791

153,908

1,636

18,700

3,242

8,643

6,780

26,394

5,376

706

16,264

305

2,179

778

209

578

1,627,017

241,652

89,641

975,494

20,535

61,114

37,346

131,437

69,799

111,072

16,800

8,272

65,028

1,700

6,722

6,825

3,530

2,195

27,289

7,031

1,975

13,399

193

1,519

2,535

107

529

407,035

86,180

24,398

236,068

3,218

22,616

6,210

15,783

12,562

95,018

17,737

5,800

57,430

384

7,521

1,414

1,216

3,517

80,473

13,833

5,176

47,808

1,015

7,554

1,540

1,895

1,653

567,302

94,042

39,954

344,822

3,999

21,466

8,418

40,059

14,541

39,993

5,763

1,627

24,258

150

2,517

555

3,447

1,676

38,869

6,865

2,819

22,009 120

3,290

2,433

749

585

Current operating expenses—tota l.............

Salaries—officers..............................................

Salaries and wages—employees.....................

Fees paid to directors and members of executive, discount, and other committees........

Interest on time and savings deposits..........

Interest and discount on borrowed money. .

Taxes other than on net income....................

Recurring depreciation on banking house,

furniture and fixtures..................................

Other current operating expenses..................

201,064

24,741

54,886

2,150

56,907

436

9,369

7,314

45,262

18,466

3,285

5,306

150

3,1358

837

966

4,780

970,669

110,441

320,786

4,483

208,681

9,220

24,013

24,168

268,877

73,243

14,227

20,125

618

14,268 212

1,789

2,873

19,132

17,816

4,007

3,497

196

4,8008

428

484

4,396

271,409

34,123

73,159

2,379

70,014

1,288

21,958

8,132

60,356

60,388

13,909

14,950

648

9,951

239

1,147

2,317

17,229

57,143

9,070

15,844

187

17,653 110

1,571

1,790

10,918

368,705

51,619

105,614

4,594

89,717

1,252

14,845

12,831

88,234

27,564

2,865

7,134

209

8,899

61

1,479

760

6,157

26,620

5,674

7,551

355

3,744

15

459

1,122

7,701

Net current operating earnings................... 64,967 7,928 656,348 37,829 9,473 135,626 34,630 23,331 198,597 12,429 12,249

Recoveries, transfers from reserve accounts, and profits— total......................

On securities:

Transfers from reserve accounts................

Profits on securities sold or redeemed-----

On loans:

33,493

808

300

16,692

1,636

757

13,301

1,546

22

75 1,102

239

18

90

155,638

1,025

8,381

121,318

2,755

15,917

6,242

8,979

40

155

7,470

118

129

1,067

2,216

24

26

1,897

71

40

159

57,727

292

4,500

49,014

787

1,587

1,547

5,974

14

30

4,777

860

39

254

2,849

17

1

2,512

75

60,863

458

8,281

47,800

967

1,373

1,985

3,464

3,363

9

2,618

1

2,451

78

Transfers from reserve accounts................ 243 93 88

Losses, charge-offs, and transfers to reserve accounts—tota l..............................

On securities:

Losses and charge-offs.................................

Transfers to reserve accounts....................

On loans:

Transfers to reserve accounts.....................

31,285

3,816

4,439

426

11,174

11,430

2,920

120

363

258

1,854

324

117,492

12,100

39,663

896

54,367

10,467

9,535

3,695

1,380

474

3,202

784

2,145

71468

91

830

442

52,210

3,355

33,223

842

10,704

4,085

6.233

733

743

1.234 

2,781

741

2,778

511

1,154

59

525

530

65,526

6,029

29,643

815

20,455

8,584

4,597

22

2,569

90

1,016

900

1,728

380

99

72

758

419

Net profits before incom e taxes................... 67,175 6,555 694,493 37,273 9,544 141,143 34,371 23,401 193,935 11,296 13,138

214 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— tota l..........................

Federal....................................................................

State........................................................................

17.921

17.921

2.853

2.853

326,202

293,502

32,700

15,055

13,710

1,345

3,486

3,315

170

63.570

63.570

13,599

12,714 886

10,326

8,389

1,937

81.842

81.842

5,878

5,133

745

5,405

5,044

361

Net profits after incom e taxes......................

Dividends and interest on capital—total.

Dividends declared on preferred stock and

interest on capital notes and debentures. .

Cash dividends declared on common stock. .

Net additions to capital from p rofits....

49,255 3,702 368,291 22,218 6,059 77,573 20,771 13,075 112,093 5,418 7,733

17,980

590

17,390

1.353

1.353

196,971

1,059

195,912

7,324

1

7,322

2.179

2.179

28,558

19

28,539

7.174

7.174

6.555

6.555

57,286

15

57,271

3.727

3.727

3,093

2

3,091

31,275 2,349 171,320 14,894 3,880 49,015 13,598 6,520 54,807 1,692 4,640

M emoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 147

1,816

668

3,589

2,952

17,674

4,046

21,850

1

249

45

681

792

2,471

3,554

4,940

314

3,373

340

7,470

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

552 170 1,173 545

349

987

147 160

21 On loans................................................................. 987 196 1,307 480 468

Average assets and liabilities1

Assets—total......................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities....................................................

Loans and discounts...........................................

All other assets.....................................................

Liabilities and capital—total........................

Total deposits.......................................................

Demand deposits...........................................

Time and savings deposits............................

Borrowings and other liabilities......................

Total capital accounts....................................

6,983,914

1,101,241

1,978,201

958,257

2,831,260

114,955

663,832

148,671

223,043

32,063

248,889

11,166

46,545,582

10,527,762

9,930,708

3,258,936

21,461,211

1,366,965

2,780,473

621,374

642,650

333,921

1,131,203

51,325

651,073

93,644

248,812

77,438

222,545

8,634

11,351,234

2,126,453

3,536,934

877,751

4,651,679

158,417

2,657,240

714,883

719,986

243,353

939,970

39,048

2,027,212

355,451

583,130

221,052

829,276

38,303

14,906,916

2,787,830

3,820,387

1,481,317

6,573,981

243,401

899,751

125,833

225,785

65,596

466,319

16,218

984,372

215,840

273,241

106,131

374,828

14,332

6,983,914

6,415,106

3,653,594

2,761,512

79,202

489,606

663,832

619,800

4-78,961

145,889

5,164

38,868

46,545,582

40,714,870

81,871,152

8,843,718

1,815,622

4,015,090

2,780,473

2,484,324

1,833,035

651.289

68,860

227.289

651,073

598,440

403,436

195,004

6,188

46,445

11,351,234

10,336,945

6,620,608

3,716,337

162,668

851,621

2,657,240

2,419,576

2,012,784

4-06,792

18,707

218,957

2,027,212

1,839,635

1,086,592

753,043

32,704

154,873

14,906,916

13,268,811

8,875,984

4,392,827

195,560

1,442,545

899,751

808,108 

472,170

335,938

16,203 

75,440

984,372

895,575

718,386

177,189

9,160

79,637

Number of active officers, December 31...........

Number of other employees, December 3 1 ...

2,650

16,060

403

1,771

9,394

77,818

1,788

6,791

590

1,311

3,784

21,065

1,912

4,954

1,148

4,442

5,790

31,019

313

2,349

791

2,677

Number of banks, December 31........................ 259 53 422 202 152 605 380 53 730 7 137

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1946-1957: See the Annual Report for 1957, pp. 130-139, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 215

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 8 . E a r n in g s , E x p e n s e s , an d D iv id e n d s o f I n su r e d C o m m e r c ia l B a n k s in th e

U n it e d St a t e s (C o n t in e n t a l U. S. an d Ot h e r A r e a s), b y St a t e , 1958— C ontinued

(Amounts in thousands of dollars)

Earnings or expense item South

Dakota Tennessee Texas Utah Vermont Virginia Washington West

Virginia Wisconsin Wyoming

Current operating earnings— total............. 29,901 118,106 416,309 39,916 16,822 130,575 117,478 48,459 150,946 15,347

Interest on U. S. Government obligations. . 7,148 19,782 69,696 5,721 2,371 21,558 18,668 12,474 37,161 3,431

Interest and dividends on other securities. . 1,543 6,705 23,497 2,044 895 7,239 7,092 2,144 8,328 670

Interest and discount on loans...................... 16,326 78,285 259,634 25,237 11,566 83,683 69,251 27,965 87,785 8,983

Service charges and fees on bank's loans.. . 206 588 3,804

23,844

1,437 189 1,373 1,606 437 1,097 173

Service charges on deposit accounts.......... 1,876 4,586 2,909 1,015 7,644 12,148 1,831 8,225 1,082

Other service charges, commissions, fees, 

and collection and exchange charges........ 2,153 2,688 6,573 1,150 191 2,618 3,239 930 2,391 480

Trust department............................................ 178 2,278 7,796 867 266 4,086 2,970 1,294 2,519 122

Other current operating earnings.................. 471 3,194 21,466 551 329 2,374 2,504 1,384 3,440 406

Current operating expenses— total............. 19,943 81,808 271,298 27,107 13,632 91,826 79,861 30,594 110,814 10,093

Salaries—officers.............................................. 5,142 12,772 50,602 3,704 1,730 14,416 12,324 5,668 19,957

23,862

2,098

Salaries and wages—employees..................... 3,780 18,549 65,980 6,517 2,618 22,474 24,625 7,566 2,315

Fees paid to directors and members of executive, discount, and other committees........ 334 686 2,995 241 233 1,210 303 574 1,708 151

Interest on time and savings deposits.......... 4,861 23,498 47,382 9,350 5,754 26,215 18,887 6,879 35,391 2,632

Interest and discount on borrowed money. . 13 237 1,051 50 17 200 230 47 191 23

Taxes other than on net income.................... 407 4,003 20,277 419 231 3,659 2,193 1,151 2,300 365

Recurring depreciation on banking house, 

furniture and fixtures.................................. 540 2,633 11,663 677 409 3,507 3,239 1,154 3,274 401

Other current operating expenses.................. 4,866 19,432 71,348 6,150 2,640 20,144 18,060 7,554 24,131 2,110

Net current operating earnings................... 9,958 36,298 145,011 12,809 3,191 38,749 37,617 17,865 40,132 5,254

Recoveries, transfers from reserve accounts, and profits—total...................... 1,543 10,975 19,514 2,938 1,011 13,339 6,421 3,488 17,960 1,054

On securities:

17 70 167 15 13 148 6 6 497 2

Transfers from reserve accounts................

Profits on securities sold or redeemed. . . . 1,209

1,331

8,044

489

12,245

139

2,570

38

755

131

11,126

45

5,898

9

3,068

177

16,217 808

On loans:

Recoveries..................................................... 130 315 4,103 103 47 251 95 130 106 167

Transfers from reserve accounts................ 40 854 609 16 62 1,244 25 170 338 3

All other............................................................ 148 361 1,902 94 97 440 353 106 625 74

Losses, charge-offs, and transfers to reserve accounts— total.............................. 2,178 11,329 31,755 1,707 879 12,103 7,590 3,231 12,023 861

On securities:

620 1,379 3,612 398 152 1,161 2,618 352 2,809 163

Transfers to reserve accounts....................

On loans:

134

4,086

589

2,486

4,494

378

28

62

19

5,923

386

1,888

87

912

136

3,372

125 161

Transfers to reserve accounts.................... 1,105 3,123 15,797 766 444 3,693 2,031 1,442 3,942 363

320 2,153 5,366 136 202 940 967 389 1,775 174

Net profits before incom e taxes................... 9,323 35,944 132,771 14,040 3,323 39,985 36,448 18,123 46,069 5,447

216 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— to ta l..........................

Federal..............................................................

3,428

3,173

255

15,462

15,256

206

51.306

51.306

5,785

5,466

320

1,029

920

109

16.458

16.458

17.233

17.233

7.657

7.657

15,979

15,012

967

1.920

1.920

Net profits after incom e taxes......................

Dividends and interest on capital— total.

Dividends declared on preferred stock and 

interest on capital notes and debentures.. 

Cash dividends declared on common stock..

Net additions to capital from p rofits.. ..

5,896 20,482 81,465 8,254 2,294 23,527 19,216 10,466 30,091 3,527

2,113

2

2,111

7.671

7.671

35.749

35.749

3,418

5

3,413

1,011

62

948

9,478

48

9,431

7.773

7.773

3.676

3.676

9,867

98

9,769

1,105

5

1,101

3,782 12,811 45,717 4,836 1,284 14,049 11,442 6,790 20,223 2,421

M emoranda 

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities..................................................... 224

4,160

204

8,813

413

682

245

1,664

24

794

11

1,800

On loans............................................................

Losses charged to reserve accounts (not included in losses above):

On securities.....................................................

On loans............................................................

211

206

591

148

1,387

177

3

696

67

3

212

439

301

974

171

7

397

131

295

Average assets and liabilities1

Assets—tota l......................................................

Cash and due from banks...............................

United States Government obligations........

Other securities................................................

Loans and discounts........................................

All other assets.................................................

Liabilities and capital—total........................

Total deposits...................................................

Demand deposits...........................................

Time and savings deposits............................

Borrowings and other liabilities.....................

Total capital accounts....................................

718,741

116.314

267.314 

58,440

268,141

8,532

3,141,551

730,959

775,193

257,414

1,324,689

53,296

11,718,520

3,162,617

2,753,975

843,581

4,677,038

281,309

934,515

181,866

239,595

70,367

427,578

15,109

386,758

53,651

93,012

34,723

199,630

5,742

3,278,882

657,535

900,962

274,027

1,391,673

54,685

2,759,144

535,523

726,570

253,259

1,193,051

50,741

1,321,568

270,401

489,214

88,060

456,391

17,502

4,474,325

818,007

1,538,164

346,101

1,714,158

57,895

400,840

84,581

144,588

25,070

141,260

5,341

718,741

660,731 

U55,7S9

20A,992

5,431 

52,579

3,141,551

2,863,918

1,957,763

906,155

46,229

231,404

11,718,520

10,704,880 

8,590,657

2,11 A,228

118,801 

894,839

934,515

854,535

Js.95,263

359,272

16,337

63,643

386,758 

347,889 

ISA,280

213,609

4,105 

34,764

3,278,882 

2,983,576 

1,850,828

1,132,7 A8

37,431 

257,875

2,759,144

2,518,180 

1,697,780

820,U00

39,531 

201,433

1,321,568 

1,179,384 

823,06A

356,320

12,873 

129,311

4,474,325

4,133,802

2,135,807

1,697,995

32,791

307,732

400,840 

368,086 

261,229

106,857

3,860 

28,894

Number of active officers, December 31..........

Number of other employees, December 3 1 ...

776

1,419

1,835

6,577

6,047

21,152

455

2,173

271

946

1,958

7,673

1,392

7,007

773

2,458

2,499

8,066

261

713

Number of banks, December 31........................ 172 291 946 44 57 312 87 180 547 52

Note: Due to rounding differences, components may not add precisely to the indicated totals. 1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 19^6-1957: See the Annual Report for 1957, pp. 130-139, and earlier reports. fcO

*—■1 

-aEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 9 . I n c o m e, E x p e n s e s, an d D iv id e n d s of I n su r e d M u t u a l Sa v in g s B a n k s , 1 9 5 1 -1 9 5 8

(Amounts in thousands of dollars)

Sources and disposition of incom e 1951 1952 1953 1954 1955 1956 1957 1958

Current operating incom e—tota l.................................................................. 513,817 568,498 647,067 721,323 801,682 898,440 1,026,327 1,149,643

Interest on U. S. Government obligations..................................................... 171,169 163,879 164,630 155,869 150,657 146,624 147,157 141,950

Interest and dividends on other securities...................................................... 49,630 62,958 82,003 96,205 99,190 102,590 127,212 167,489

Interest and discount on real estate mortgage loans—net........................... 279,405 326,785 381,895 447,022 528,426 623,586 720,215 808,975

Interest and discount on real estate mortgage loans— gross.......................... 291,790 340,497 396,264 461,769 545,841 645,592 744,303 836,515

Less: Mortgage servicing fees.......................................................................... 6,051 7,666 9,483 11,922 15,623 20,475 23,138 25,985

Premium amortization.......................................................................... 6,334 6,046 4,886 2,825 1,792 1,531 950 1,555

Interest and discount on other loans and discounts—net............................ 3,878 4,068 5,184 6,642 7,322 8,439 10,848 11,749

Income on real estate other than bank building—net.................................. 163 102 77 86 -17 6 31 2

Income on real estate other than bank building— gross................................. 699 533 338 292 247 103 140 139

Less: Operating expense.................................................................................. 536 431 261 206 264 97 109 137

Income on other assets...................................................................................... 5,052 5,833 7,171 7,746 8,171 8,328 7,898 8,384

Income from service operations....................................................................... 4,520 4,873 6,107 7,753 7,933 8,867 12,966 11,094

Current operating expense—total................................................................. 106,654 116,763 127,336 139,931 147,678 158,317 174,758 187,758

Salaries—officers................................................................................................ 18,030 19,249 21,142 22,870 24,200 25,861 28,590 30,099

Salaries and wages—employees........................................................................ 37,707 40,996 44,351 48,074 50,879 53,962 58,310 61,797

Pension, hospitalization and group insurance payments, and other employee benefits............................................................................................ 8,939 10,648 11,566 12,623 13,544 14,643 16,478 18,314

Fees paid to trustees and committee members.............................................. 1,872 2,123 2,303 2,526 2,697 2,809 3,007 3,203

Occupancy, maintenance, etc. of bank premises (including taxes and

recurring depreciation)—net..................................................................... 11,589 12,162 13,521 15,019 15,094 17,492 19,326 20,925

Occupancy, maintenance, etc. of bank premises (including taxes and

recurring depreciation)— gross................................................................ 18,248 19,104 20,926 22,495 22,793 25,380 27,846 30,252

Less: Income from bank building.................................................................. 6,659 6,942 7,405 7,476 7,699 7,888 8,520 9,327

Deposit insurance assessments......................................................................... 5,907 6,203 6,837 7,562 7,979 8,437 9,407 10,183

Furniture and fixtures (including recurring depreciation)............................ 2,280 2,387 2,445 2,755 2,790 3,058 3,251 3,501

All other current operating expense................................................................ 20,330 22,995 25,171 28,502 30,495 32,055 36,389 39,736

Net current operating incom e........................................................................ 407,163 451,735 519,731 581,392 654,004 740,123 851,569 961,885

Franchise and incom e taxes—total............................................................... 6,094 9,189 8,569 10,643 9,047 8,955 9,060 10,342

State franchise and income taxes..................................................................... 6,094 6,962 6,459 7,231 7,818 8,321 8,972 9,831

Federal income taxes......................................................................................... 2,227 2,110 3,412 1,229 634 88 511

Net current operating incom e after taxes................................................... 401,069 442,546 511,162 570,749 644,957 731,168 842,509 951,543

Dividends and interest on deposits............................................................... 282,235 365,481 414,951 466,119 536,256 609,335 716,383 812,254

Net current operating incom e after taxes and dividends....................... 118,834 77,065 96,211 104,630 108,701 121,833 126,126 139,289

Non-recurring incom e, realized profits and recoveries credited to

profit and loss, and transfers from valuation adjustment provisions—total................................................................................................ 128,790 57,917 36,962 59,228 44,430 48,192 48,148 66,160

Non-recurring income........................................................................................ 21,045 14,893 12,372 12,334 11,586 10,537 13,434 17,295

Realized profits and recoveries on:

Securities sold or matured............................................................................ 8,567 5,243 5,287 23,914 18,070 17,355 16,022 30,974

Real estate mortgage loans........................................................................... 484 155 783 389 481 456 259 138

Other real estate............................................................................................. 300 216 304 219 3,179 413 437 367

All other assets............................................................................................... 2,843 240 1,489 943 977 1,435 431 624

Transfers from valuation adjustment provisions1 on:

Securities......................................................................................................... 11,968 12,223 6,132 10,858 1,878 4,463 5,939 8,345

Real estate mortgage loans........................................................................... 80,676 24,692 9,965 8,450 7,710 12,501 10,850 8,068

Other real estate............................................................................................. 373 111 275 126 157 29 65 28

All other assets............................................................................................... 2,534 144 355 1,995 392 1,003 711 321

218 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Non-recurring expense, realized losses charged to profit and loss, and 

transfers to valuation adjustm ent provisions—total...................... 124,491

24,724

25,264

179

84,023

23,804

70,507

12,156

28,333

152

65,050

14,279

12,773 112

66,385

10,087

21,673

636

71,580

10,645

26,991

542

83,870

12,958

35,526

1,036

179

79,852

13,699

25,056

603

Realized losses on:

25,875

176 20 110 39 49 101 171 191 200 62 106 551 823 149 191 684

Transfers to valuation adjustment provisions1 on:

52,574

18,580

37

14,359

15,474

63

10,639

17,00511

12,403 10,630

19,219

42

16,689

16,194

46

18,062

15,236

16

21,946

16,733

45

20,380

7

2,913 4,100 2,066 4,496 3,174 153 666 895

123,133 50,959 62,666 98,808 86,746 98,445 90,404 125,597

Memoranda

Recoveries credited to valuation adjustm ent provisions1 (not included in recoveries above) on :

445 135 15 220 23 1,151

268

972 571

274 69 33 41 50 365 14 1 10 39

105 218 1 2 24 9 5 5

Realized losses charged to valuation adjustment provisions1 (not 

included in realized losses above) on :

Securities............................................................................................................. 9,175

255

14,581

882

12,523

469

7,527

166

4,250

326

4,055

318

8,741

342

6,267

Real estate mortgage loans.............................................................................. 217

Other real estate................................................................................................ 294 206 683 234 180 127 3

All other assets ................................................................................................. 108 616 89 45 326 51 67 300

Average assets and liabilities2 

Assets—total........................................................................................................ 16,694,810

662,190

7,292,576

1,662,971

6,764,780

17.905.674

728,979

6,755,471

2,064,761

8,012,488

85,996

2,675

255,304

17.905.674 

16,102,806

19,625,429 21,872,622 22,740,783 24,533,839 26,904,256 29,160,570

742,225

5,338,796

4,378,447

18,045,621

227,027

Cash and due from banks................................................................................. 744,369

6,620,535

2,591,176

874,215

6,755,391

3,015,662

809,152

5,993,243

3,008,656

12,467,355

757,496

5,730,449

3,034,920

723,830

United States Government obligations........................................................... 5,592,025

3,559,430

16,445,982

185,174

Other securities..................................................................................................

Real estate mortgage loans.............................................................................. 9,288,364 10,802,477 14,494,241

Other loans and discounts................................................................................ 79,331 155,376

3,386

229,576

102,768 120,350

2,957

130,165

Other real estate................................................................................................ 2,432

275,785

19,625,429

17,718,957

17,688,777

30,180

2,019

330,193

2,197

359,160

24,533,839 

22,202,156 

22,167,537

3 k,619

3,586 4,361

424,093

29,160,570 

26,304,610 

26,27k,758

29,852

All other assets................................................................................................... 301,570

21,872,622

19,738,300

394,229

26,904,256 

24,322,261 

2£,295,761

Liabilities and surplus accounts—total...................................................... 16,694,810

15,000,933

1U,982,U1

18,522

80,463

1,613,414

22,740,783

20,577,403 

20,525,629

51,77U

Total deposits.....................................................................................................

Savings and lime deposits.............................................................................. 16,080,015

22,791

93,253

1,709,615

19,69k,981

Demand deposits............................................................................................. £3,319 26,500

Other liabilities.................................................................................................. 119,359

1,787,113

159,912

1,974,410

199,228

1,964,152

249,779

2,081,904

318,445 431,019

Total surplus accounts...................................................................................... 2,263,550 2,424,941

Number of active officers, December 31............................................................ 1,714

11,530

1,810

11,932

1,908

12,525

1,999

13,227

2,042

13,618

2,130 2,239

14,590

2,356

Number of other employees, December 31........................................................ 13,860 14,925

Number of banks, December 31.......................................................................... 202 206 219 218 220 223 239 241

1 Includes “Valuation reserves” and “ Other asset valuation provisions (direct write-downs)” . 2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 193U-1950: Data for 1934-1950, which however are not comparable with figures for 1951-1958, may be found in the following Annual Reports: 1950, pp. 272-273, 

and 1941, p. 173.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 2 1 9

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 2 0 . R a t io s o f I n c o m e, E x p e n s e s , an d D iv id e n d s o f I n su r e d M u t u a l Sa v in g s B a n k s , 1 9 5 1 -1 9 5 8

Sources and disposition of incom e 1951 1952 1953 1954 1955 1956 1957 1958

Am ounts per $100 of current operating incom e 

Current operating incom e— total.................................................................................. $100.00

38.81

$100.00

28.83

$100.00

25.44

$100.00

21.61

$100.00

18.79

$100.00

16.32

$100.00

14.34

$100.00

12.35

14.57

70.37 1.02

.73

Interest and dividends on other securities..................................................................... 9.66 11.07 12.67 13.34 12.37 11.42 12.40

Interest and discount on real estate mortgage loans—net...........................................

Interest and discount on other loans and discounts—net............................................

Income on other assets......................................................................................................

54.38

.75 1.02

57.48

.72

1.04

59.02

.80 1.12

61.97

.92

1.09

65.92

.91 1.02

69.41

.94

.92

70.17

1.06

.77

Income from service operations....................................................................................... .88 .86 .95 1.07 .99 .99 1.26 .96

Current operating expense—total................................................................................. 20.76 20.54 19.68 19.40 18.42 17.62 17.03 16.33

Salaries—officers................................................................................................................ 3.51 3.39 3.27 3.17 3.02 2.88 2.79 2.62

Salaries and wages—employees........................................................................................ 7.34 7.21 6.85 6.67 6.35 6.00 5.68 5.37

1.59

Pension, hospitalization and group insurance payments, and other employee 

benefits............................................................................................................................ 1.74 1.87 1.79 1.75 1.69 1.63 1.60

Fees paid to trustees and committee members.............................................................. .36 .37 .35 .35 .34 .31 .29 .28

Occupancy, maintenance, etc. of bank premises (including taxes and recurring 

depreciation)—net......................................................................................................... 2.26 2.14 2.09 2.08 1.88 1.95 1.88 1.82

Deposit insurance assessments......................................................................................... 1.15 1.09 1.06 1.05 .99 .94 .92 .89

Furniture and fixtures (including recurring depreciation)...........................................

All other current operating expense................................................................................

.44

3.96

.42

4.05

.38

3.89

.38

3.95

.35

3.80

.34

3.57

.32

3.55

.30

3.46

Net current operating incom e........................................................................................ 79.24 79.46 80.32 80.60 81.58 82.38 82.97 83.67

Franchise and incom e taxes—total.............................................................................. 1.18 1.62 1.32 1.47 1.13 1.00 .88 .90

State franchise and income taxes.................................................................................... 1.18 1.23 1.00 1.00 .98 .93 .87 .86

Federal income taxes......................................................................................................... .39 .32 .47 .15 .07 .01 .04

Net current operating incom e after taxes.................................................................. 78.06 77.84 79.00 79.13 80.45 81.38 82.09 82.77

Dividends and interest on deposits.............................................................................. 54.93 64.29 64.13 64.62 66.89 67.82 69.80 70.65

Net current operating incom e after taxes and dividends...................................... 23.13 13.55 14.87 14.51 13.56 13.56 12.29 12.12

220 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Am ounts per $100 of total assets1

Current operating income—total........................................................................................ 3.08 3.17 3.30 3.30 3.53 3.66 3.81 3.94 Current operating expense— total....................................................................................... .64 .65 .65 .64 .65 .64 .65 .64 Net current operating income............................................................................................. 2.44 2.52 2.65 2.66 2.88 3.02 3.16 3.30 State franchise and income taxes........................................................................................ .04 .05 .05 .05 .04 .04 .03 .04 Net current operating income after taxes.......................................................................... 2.40 2.47 2.60 2.61 2.84 2.98 3.13 3.26 Dividends and interest on deposits.................................................................................... 1.69 2.04 2.11 2.13 2.36 2.48 2.66 2.78 Net current operating income after taxes and dividends................................................ .71 .43 .49 .48 .48 .50 .47 .48 Non-recurring income, realized profits and recoveries credited to profit and loss, and

transfers from valuation adjustment provisions2—total.............................................. .77 .32 .19 .27 .19 .19 .18 .22 Non-recurring expense, realized losses charged to profit and loss, and transfers to

valuation adjustment provisions2—total........................................................................ .74 .47 .36 .30 .29 .29 .31 .27 Net additions to total surplus accounts from operations................................................ .74 .28 .32 .45 .38 .40 .34 .43

Special ratios1

Interes ton U. S. Government obligations per $100 of U. S. Government obligations. 2.35 2.43 2.49 2.31 2.51 2.56 2.63 2.66 Interest and dividends on other securities per $100 of other securities......................... 2.98 3.05 3.16 3.19 3.30 3.38 3.57 3.83 Interest and discount on real estate mortgage loans per $100 of real estate mortgage

4.13 4.08 4.11 4.14 4.24 4.30 4.38 4.48 Interest and discount on other loans and discounts per $100 of other loans and

discounts............................................................................................................................. 4.89 4.73 5.04 5.52 5.63 5.43 5.86 5.18

Dividends and interest on deposits per $100 of savings and time deposits................... 1.88 2.27 2.35 2.37 2.61 2.75 2.95 3.09 Net additions to total surplus accounts from operations per $100 of total surplus

accounts............................................................................................................................. 7.63 2.98 3.51 5.00 4.42 4.73 3.99 5.18

Assets and liabilities per $100 of total assets1

Assets— total....................................................................................................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Cash and due from banks................................................................................................ 3.97 4.07 3.79 4.00 3.56 3.09 2.69 2.55 United States Government obligations.......................................................................... 43.68 37,73 33.74 30.88 26.36 23.36 20.78 18.31

Other securities................................................................................................................. 9.96 11.53 13.20 13.79 13.23 12.37 13.23 15.01

Real estate mortgage loans.............................................................................................. 40.52 44.75 47.33 49.39 54.82 59.08 61.13 61.88

Other loans and discounts................................................................................................ .48 .48 .52 .55 .57 .63 .69 .78

Other real estate................................................................................................................ .02 .01 .01 .01 .01 .01 .01 .02

Ail other assets.................................................................................................................. 1.37 1.43 1.41 1.38 1.45 1.46 1.47 1.45

Liabilities and surplus accounts—tota l...................................................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits.................................................................................................................... 89.85 89.93 90.28 90.24 90.49 90.50 90.40 90.20

Savings and time deposits.............................................................................................. 89.71* 89.80 90.13 90.01* 90.26 90.36 90.30 90.10

Demand deposits............................................................................................................. .11 .18 .15 .20 .23 .11* .10 .10 Other liabilities.................................................................................................................. .48 .52 .61 .73 .87 1.02 1.19 1.48

Total surplus accounts..................................................................................................... 9.67 9.55 9.11 9.03 8.64 8.48 8.41 8.32

Number of banks, December 31......................................................................................... 202 206 219 218 220 223 239 241

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

* Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-downs)” .

Back figures, 1981* and 191*1-1950: Data for 1934 and 1941-1950, which however are not comparable with figures for 1951-1958, may be found in the following Annual Reports: 

1950, pp. 274-275, and 1947, pp. 156-157.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 221

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Federal Reserve Bank of St. Louis
D e p o s it I n s u r a n c e D i s b u r s e m e n t s

T a b l e 1 2 1 . D e p o s i t o r s , d e p o s its , a n d d is b u r s e m e n ts in in s u r e d b a n k s r e q u ir in g d is b u r s e m e n ts

b y t h e F e d e r a l D e p o s i t In s u r a n c e C o r p o r a t io n , 1 9 3 4 - 1 9 5 8

Banks grouped by class of bank, year of deposit payoff or deposit assumption,

amount of deposits, and State

T a b l e 1 2 2 . A s s e t s a n d lia b ilitie s o f in su re d b a n k s r e q u ir in g d is b u r s e m e n t s b y t h e F e d e r a l

D e p o s i t I n s u r a n c e C o r p o r a tio n , 1 9 3 4 - 1 9 5 8

T a b l e 1 2 3 . I n s u r e d b a n k s r e q u ir in g d is b u r s e m e n ts b y th e F e d e r a l D e p o s i t I n s u r a n c e C o r p o ­

r a t io n d u r in g 1 9 5 8

T a b l e 1 2 4 . R e c o v e r i e s a n d lo sse s b y th e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t io n o n p r in c ip a l

d is b u r s e m e n t s fo r p r o te c tio n o f d e p o s ito r s , 1 9 3 4 - 1 9 5 8

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
D is b u r s e m e n t s b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n 

t o p r o t e c t d e p o s it o r s are m ade when the insured deposits o f banks 

in financial difficulties are p aid off, or when the deposits o f a failing 

b a n k are assum ed b y another insured bank w ith the financial aid of the 

C orporation . In deposit p a y o ff cases the disbursem ent is the am ount 

paid b y the C orporation on insured deposits. In deposit assum ption 

cases the p rin cipal disbursem ent is the am ount loaned to failing banks, 

or the price paid for assets purchased from them ; additional disbursem ents are m ade in those cases as advances for p rotection of assets in 

process o f liqu idation and fo r liquidation expenses.

N o n in s u r e d b a n k fa ilu r e s

F ive noninsured banks failed in 1958. T he nam e and location o f 

these banks, the date o f closing, and the am ount of their deposits are 

given below :

P eoples B ank, F itzgerald, G eorgia; January 6, 1958; deposits $30,000.

Industrial B anking C om pan y, V aldosta, G eorgia; A pril 19, 1958; 

deposits $420,000.

T h e P rivate B ank, Staten ville, G eorgia; June, 1958; deposits $4,200.

V alley T ru st C om p an y, P enacook, N ew H am pshire; June 25, 1958; 

deposits $1,568,500.

H o y t State B ank, H oy t, K an sas; Ju ly 3, 1958; deposits $150,000.

F or suspensions o f noninsured banks in previous years see the Annual 

R ep orts o f the C orporation as follow s: 1943, p. 102; 1946, p. 167; 

1947, p. 159; 1949, p. 187; 1950, p. 277; 1951, p. 187; 1952, p. 139; 

1953, p. 131; 1954, p. 165; 1955, p. 161; 1956, p. 143; and 1957, p. 145.

S o u r c e s o f d a ta

Insured banks: books o f bank at date of closing; and books o f F D IC , 

D ecem b er 31, 1958.

to

to

CODEPOSIT INSURANCE DISBURSEMENTS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b l e 1 2 1 . D e p o s it o r s , D e p o s it s , a n d D is b u r s e m e n t s i n I n s u r e d B a n k s R e q u ir in g

D is b u r s e m e n t s b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n , 1934-1958

BANKS GROUPED BY CLASS OF BANK, YEAR OF DEPOSIT PAYOFF OR DEPOSIT ASSUMPTION, AMOUNT OF DEPOSITS, AND STATE

Classification

Number of banks Number of depositors1 Deposits1 

(in thousands of dollars)

Disbursements by FDIC 

(in thousands of dollars)

Total

Deposit

payoff

cases

Deposit

assumption

cases

Total

Deposit

payoff

cases

Deposit

assumption

cases3

Total

Deposit

payoff

cases

Deposit

assumption

cases

Principal disbursements Advances and 

expenses2

Total

Deposit

payoff

cases4

Deposit

assumption

cases5

Deposit

payoff

cases®

Deposit

assumption

cases7

All banks................................... 436 254 182 1,437,700 402,967 1,034,733 592,641 126,114 466,527 296,215 98,139 198,075 1,044 47,261

Class of bank

National banks....................... 77 24 53 306,940 62,264 244,676 125,164 25,451 99,712 57,353 18,739 38,614 202 6,192

State banks members F. R. S. 23 7 16 370,763 85,157 285,606 188,820 27,701 161,119 102,261 21,991 80,271 108 19,270

Banks not members F .R . S .. 336 223 113 759,997 255,546 504,451 278,657 72,961 205,696 136,600 57,409 79,191 734 21,799

Year®

1934......................................... 9 9 15,767 15,767 1,968 1,968 941 941 43

1935......................................... 25 24 1 44,655 32,331 12,324 13,319 9,091 4,229 8,890 6,026 2,865 108 272

1936......................................... 69 42 27 89,018 43,225 45,793 27,508 11,241 16,267 14,781 8,056 6,725 67 934

1937......................................... 75 50 25 130,387 74,148 56,239 33,349 14,960 18,389 19,160 12,045 7,116 103 905

1938......................................... 74 50 24 203,961 44,288 159,673 59,684 10,296 49,388 30,480 9,092 21,387 93 4,902

1939......................................... 60 32 28 392,718 90,169 302,549 157,772 32,738 125,034 67,770 26,196 41,574 162 17,603

1940......................................... 43 19 24 256,361 20,667 235,694 142,429 5,657 136,773 74,134 4,895 69,239 89 17,234

1941......................................... 15 8 7 73,005 38,594 34,411 29,718 14,730 14,987 23,880 12,278 11,602 50 1,477

1942......................................... 20 6 14 60,688 5,717 54,971 19,186 1,816 17,369 10,825 1,612 9,213 38 1,076

1943......................................... 5 4 1 27,371 16,917 10,454 12,525 6,637 5,888 7,172 5,500 1,672 53 72

1944......................................... 2 1 1 5,487 899 4,588 1,915 456 1,459 1,503 404 1,099 9 37

1945......................................... 1 1 12,483 12,483 5,695 5,695 1,768 1,768 96

1946....................................... 1 1 1,383 1,383 347 347 265 265 11

1947......................................... 5 5 10,637 10,637 7,040 7,040 1,724 1,724 319

1948......................................... 3 3 18,540 18,540 10,674 10,674 2,990 2,990 200

1949......................................... 4 4 5,671 5,671 5,475 5,475 2,552 2,552 166

1950......................................... 4 4 6,366 6,366 5,513 5,513 3,986 3,986 517

1951......................................... 2 2 5,276 5,276 3,408 3,408 1,885 1,885 127

1952......................................... 3 3 6,752 6,752 3,170 3,170 1,369 1,369 189

1953......................................... 2 2 24,469 24,469 18,262 18,262 5,017 5,017 404

1954......................................... 2 2 1,811 1,811 998 998 913 913 134

1955......................................... 5 4 1 17,790 8,080 9,710 11,953 6,503 5,450 6,785 4,439 2,346 103 519

1956......................................... 2 1 1 15,197 5,465 9,732 11,329 4,702 6,628 3,336 2,798 538 75 47

1957......................................... 1 1 2,339 2,339 1,163 1,163 1,057 1,057 19

1958......................................... 4 3 1 9,568 4,361 5,207 8,239 4,156 4,084 3,033 2,801 231 31 19

Banks with deposits of—

$100,000 or less...................... 107 83 24 38,347 29,695 8,652 6,418 4,947 1,471 4,999 4,309 691 88 154

$100,000 to $250,000............. 109 86 23 83,370 65,512 17,858 17,759 13,920 3,839 12,906 11,554 1,352 209 173

$250,000 to $500,000............. 59 36 23 89,949 56,777 33,172 20,975 12,462 8,513 14,588 10,223 4,365 147 583

$500,000 to $1,000,000.......... 63 28 35 153,815 68,169 85,646 47,741 20,953 26,788 31,524 16,667 14,857 234 2,087

$1,000,000 to $2,000,000___ 44 11 33 197,099 57,892 139,207 63,097 14,280 48,817 33,183 11,004 22,179 90 3,311

$2,000,000 to $5,000,000___ 33 8 25 242,390 63,751 178,639 103,044 26,907 76,138 53,330 18,707 34,623 192 5,511

$5,000,000 to $10,000,000. . . 12 12 190,283 190,283 77,474 77,474 26,284 26,284 5,341

$10,000,000 to $25,000,000. . 5 2 3 170,119 61,171 108,948 96,713 32,644 64,068 45,746 25,676 20,070 84 5,381

$25,000,000 to $50,000,000. . 4 4 272,328 272.328 159,418 159,418 73,653 73,653 24,720

224 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
State 

Alabama 

Arkansas 

California. . . 

Colorado 

Connecticut.

Florida.. 

Georgia. 

Idaho... 

Illinois. . 

Indiana.

Iowa.........

Kansas___

Kentucky. 

Louisiana. 

Maine. . . .

Maryland........

Massachusetts.

Michigan.........

Minnesota........

Mississippi. . . .

Missouri.............

Montana............

Nebraska...........

New Hampshire. 

New Jersey........

New York.........

North Carolina. 

North Dakota. .

Ohio...................

Oklahoma.........

Oregon..............

Pennsylvania. . 

South Carolina. 

South Dakota.. 

Tennessee........

Texas..............

Vermont.........

Virginia..........

Washington... 

West Virginia.

Wisconsin. 

Wyoming.,

3

5

3

34

3

4

12

2

18

2

5

1

8

1

22

8

20

2

3

20

1

27

23

5

11

2

3

1

21

1

1

4

2

1

5 

1

7,905

4,434

7,516

10

5,379

1,642

8,386

2,451

43,291

30,006

13,665

5,145

36,139

6,087

9,710

22,567

9,046

31,663

2.650

1.651

34,929

1,500

2,224

1,780

522,563

269,621

10,408

14,103

13,751

10,795

3,438

166,894

1,848

12,515

12,358

29.897 

11,057 

26,041

4,179

8,346

26.898 

3,212

794

3,529

4,347

10

5,379

448

7,773

2,451

5,372

12,549

1,676

2,254

18,490

6,087

6,643

‘ '928

2.650

1.651

26,760

849

2,224

103,797

28,440

3,677

6,760

7,585

5,874

1,229

43,828

403

11,412

9,993

28,369

8,687

2,964

8,346

18,739

7,111

905

3,169

1,194

613

37,919

17,457

11,989

2,891

17,649

* 9,710

15,924

9,046

30,735

8,169

651

1,780

418,766

241,181

6,731

7,343

6,166

4,921

2,209

123,066

1,445

1,103

2,365

1,528

2,370

23,077

4,179

8,159

3,212

2,285

1,764

4,792

8

1,526

491

1,087

1,894

27,321

13,593

5,517

1,234 8,888

1,652

5,450

4,566

3,019

13,532

818

334

7,149

1,095

538

296

194,630

145,439

3,266

3,830

7,223

4,371

2,670

75.756 

849

2,987

1,942

11,260

3,725

10.756 

1,538 

2,006

9,512

2,033

100

1,168

3,713

8

1,526

217

998

1,894

1,637

3,932

498

539

3,953

1,652

828

159

818

334

5,116

215

33,128

13,286

1,421

1,552

2,345

1,659

1,368

14,340

136

2,862

1,620

10,574

3,375

629

‘ 2,006

5,966

2,185

596

1,078

274

25,684

9,662

5,018

694

4,934

5,450

3,738

3,019

13,372

2,033

880

296

161,502

132,153

1,845

2,278

4,877

2,712

1,302

61,416

714

126

322

686

350

10,126

1,538

3,545

2,033

1,089

984

2.981

8

1,242

300

915

1,494

9,224

6,197

1,456

974

5,455

668

2,346

3,109

1,564

6,290

640

257

4.981 

640 

469 

117

82,128

67,872

2,387

2,657

2,099

2.444

1,948

51,291

274

2,412

1,278

7,888

3.445 

4,908

935

1,458

7,188

202

94

841

2,120

8

1.242

203

846

1,494

1.242 

3,096

385

482

3,329

668

735

139

640

257

4,335

186

469

26,470

10,836

1,156

1,397

1,610

1,133

986

10,133

136

2,388

1,164

7,595

3,259

511

1,458

5,096

995

144

861

7,982

3,101

1,071

492

2,125

2,346

2,374

1,564

6,150

646

453

117

55,657

57,036

1,230

1,259

489

1,311

962

41,159

138

23

114

293

186

4,396

935

2,092

202

(9)

(9)

172

21

91

48

138

13

761

384

113

72

191

519

371

1,030

754

77

21

20,153

10,842

179

203

33

104

81

9,519

10

9

25

44

22

505

512

375

19

Note: Due to rounding differences, components may not add precisely to the indicated totals. 1 Adjusted to December 31, 1958. 9 Excludes $63 thousand of non-recoverable insurance expenses in cases which were resolved without payment of claims or a disbursement to facilitate assumption of deposits by 

another insured bank.

* Number of deposit accounts. 4 Includes estimated additional disbursements in active cases.

* Excludes excess collections turned over to banks as additional purchase price at termination of liquidation.

* These disbursements are not recoverable by the Corporation; they consist almost wholly of field payoff expenses. 7 Includes advances to protect assets and liquidation expenses of $47,086 thousand, all of which have been fully recovered by the Corporation, and $175 thousand of non-recoverable 

expenses.

s Disbursement totals for each year relate to cases occurring during that year and may thus contain some amounts disbursed in subsequent years. 9 Less than $500.

DEPOSIT INSURANCE DISBURSEMENTS 225

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Federal Reserve Bank of St. Louis
T ab le 122. A ssets and Liabilities of I nsured Ban ks R equiring D isbursements b y the

F e d e ra l D eposit Insurance C orporation, 1934-19581

Year

Assets

Total

Liabilities and capital accounts

Cash and 

due from 

banks

U. S. Government 

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking 

house, 

furniture & 

fixtures

Other

real

estate

Other

assets

Total

deposits

Other

liabilities

Capital

stock

Other

capital

accounts2

T ota l___

DEPOSIT 

T ota l....

1934-19545

1955

1956 ,

1957

1958 ,

DEPOSIT 

T ota l... .

1935-19538

1954

1955

1956 

19579

$134,454,424

PAYOFF Ci

$26,124,968

22,560,129

1,584,793

584,562

269,494

1,125,990

ASSUMPTK

$108,329,456

105,247,676

88,414

2,523,201

304,411

$96,082,443

\.SES

$14,113,603

10,118,648

1,861,820

599,205

555,400

978,530

ON CASES 

$81,968,840

80,185,685

141,600

600,000

439,650

$75,872,121

$16,515,391

16,203,251

154,627

60,000

26,665

70,848

$59,356,730

59,129,072 2,000

80,000

145,658

$264,507,113

$72,210,204

64,844,558

2,191,398

2,843,374

241,927

2,088,947

$192,296,909

179,748,775

884,925

2,695,617

5,305,102

$23,231,090

$5,661,365

5,439,375

104,298

77,231

3,213

37,248

$17,569,725

17,334,583

1,306

96,671

118,617

$60,388,238

$13,094,533

13,094,532

1

$47,293,705

47,270,110

18,067

5,528

$15,447,369

$8,297,442

6,927,193

49,1276

1,037,593

156,343

127,186

$7,149,927

5,688,028

19,431

22,185

1,392,689

$669,982,798

$156,017,506

139,187,686

5,946,063®

5,201,965

1,253,043

4,428,749

$513,965,292

494,603,929

1,137,676

6,035,741

7,711,655

$589,205,234

$123,893,627

107,374,263

6,497,918

4,702,628

1,163,080

4,155,738

$465,311,607

448,194,814

990,283

5,464,660

6,578,127

$12,218,084

$10,283,548

10,135,891

7,713

137,742

302

1,900

$1,934,536

1,593,531

13

240

273,137

$64,983,7253

$18,675,5454

18,150,545

140.000

250.000

35.000 100.000

$46,308,180?

45,718,180

50.000 

160,000 

280,000

$3,575,755

$3,164,786

3,526,987

-699,5686

111,595

54,661

171,111

$410,969

-902,596

97,380

410,841

580,391

1958 165,754 601,905 3,662,490 18,548 27,594 4,476,291 4,083,723 67,615 100,000 224,953

1 At date of closing; adjusted. 2 Includes surplus, undivided profits, and reserve funds, minus deficit, if any, as determined after adjustment of books of banks. 3 Includes R. F. C. capital of $25,180,114. 4 Includes R. F. C. capital of $5,896,246. 5 There were no deposit payoff cases from 1945 through 1954. Data have been revised and differ from those published in previous annual reports. For revised asset data by years 

(with 1 bank omitted in 1941) see Table 28, pp. 84-85; for unrevised asset and liability data by years see Annual Report of the Corporation for 1950, p. 280. 6 Revised. 7 Includes R. F. C. capital of $19,283,868. 8 For data by years see Annual Report of the Corporation for 1954, p. 168. 9 There were no deposit assumption cases during 1957.

226 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 123. In su red B anks R equiring D isbursem ents by th e F e d e ra l D ep osit Insurance C orp oration D u rin g 1958

Case

number Name and location Class of 

bank

Number of 

depositors, 

or

accounts1

Date of closing or 

deposit 

assumption

First payment to 

depositors, or 

disbursement by 

FDIC

Disbursement2

Receiver or 

assuming bank

Deposit

payoff

254 The First National Bank of Halfway, 

Halfway, Oregon

N 1,235 March 17, 1958 March 26, 1958 $986,241 Federal Deposit Insurance 

Corporation

255 Peoples State Bank,

Richland Springs, Texas

NM 944 May 5, 1958 May 12, 1958 $447,324 Federal Deposit Insurance 

Corporation

256 The Manufacturers’ Bank of Edgewater, 

Edgewater, New Jersey

NM 2,186 July 17, 1958 July 29, 1958 $1,367,601 State banking authority

Deposit

assumption

182 The Rushville Banking Company, 

Rushville, Ohio

NM 5,207 May 26, 1958 May 26, 1958 $231,418 The Farmers and Citizens 

Bank, Lancaster, Ohio

Case

number

Assets3

Total

Liabilities and capital accounts3

Cash and 

due from 

banks

U. S. Government 

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking 

house, 

furniture &

fixtures

Other

real

estate

Other

assets Deposits Other

liabilities

Capital

stock

Other

capital

accounts

T o ta l.... $1,291,744 $1,580,435 $70,848 $5,751,437 $55,796 $154,780 $8,905,040 $8,239,461 $69,515 $200,000 $396,064

Deposit

payoff

254 790,026 337,000 41,500 175,680 1,400 99,9204 1,445,526 1,368,432 552 25,000 51,542

255 146,177 80,000 12,406 360,514 17,345 1,530 617,972 574,287 999 25,000 17,686

256 189,787 561,530 16,942 1,552,753 18,503 25,736 2,365,251 2,213,019 349 50,000 101,883

Deposit

assumption

182 1 165,754 601,905 3,662,490 18,548 27,594 4,476,291 4,083,723 67,615 100,000 224,953

1 At date of closing. Number of depositors in deposit payoff cases; number of deposit accounts in deposit assumption case. ^ 2 To December 31, 1958, plus estimated additional disbursements. -<I 3 As determined by FDIC agents after adjustment of books of bank for liabilities or overdrafts discovered subsequent to closing. 4 Includes shortage account of $99,073, reflecting adjustment for deposit liabilities not shown on the books of the bank prior to closing. DEPOSIT INSURANCE DISBURSEMENTS

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T a b le 1 2 4 . R e c o v e r ie s an d L osses b y th e Fe d e r a l D e p o s it I n su r a n c e C o r p o r a t io n on

P r in c ip a l D isb u r se m e n t s fo r P r o tec tio n of D e p o s it o r s, 1934-1958

(Amounts in thousands of dollars)

Liquidation 

status and 

year of deposit payoff 

or 

deposit 

assumption

All cases Deposit payoff cases Deposit assumption cases

Number

of

banks

Principal

disbursements

Recoveries 

to Dec. 

31, 19581

Estimated

additional

recoveries

Losses3

Number

of

banks

Principal

disbursements3

Recoveries 

to Dec. 

31, 1958

Estimated

additional

recoveries

Losses8

Number

of

banks

Principal

disbursements4

Recoveries 

to Dec. 

81, 19581

Estimated

additional

recoveries

Losses*

T otal............

Status

Active

Terminated

Year

193 4 

193 5 

193 6 .

193 7 

193 8 

193 9 

194 0 

194 1 

194 2 

194 3 

194 4 

194 5 

194 6 

194 7 

194 8 

194 9 

195 0 

195 1 

195 2 

195 3 

195 4 

195 5 

195 6 .

195 7 

195 8 

436

34

402

9

25

69

75

74

60

43

15

20

5

2

1

1

5

3

4 

4

2

296,215

110,129

186,086

941

8,890

14,781

19,160

30,480

67,770

74,134

23,880

10,825

7,172

1,503

1,768

265

1,724

2,990

2,552

3,986

1,885

1,369

5,017

913

6,785

3,336

1,057

3,033

264,339

98,609

165,729

734

6,157

12,326

15,610

28,055

60,606

70,138

23,235

10,137

7,048

1,462

1,768

265

1,550

2,349

2,183

2,592

1,792

558

5,017

643

5,947

2,073

877

1,218

3,609

3,609

18

144

44

90

10

91

21

14

590

944

180

1,455

28,267

7,911

20,357

207

2,716

2,455

3,550

2,425

7,156

3,853

601

688

123

40

84

641

369

1,384

790

256

248

319

360

254

245

98,139

11,095

87,044

941

6,026

8,056

12,045

9,092

26,196

4,895

12,278

1,612

5,500

404

80,580

7,712

72,868

734

4,274

6,595

9,520

7,908

20,399

4,313

12,065

1,320

5,376

4,439

2,798

1,057

2,801

3,791

1,855

877

1,189

2,456

2,456

15,103 182

927 25

14,176 157

207

1,751 1

1,460 27

2,525 25

1,184 24

5,798 28

582 24

213 7

292 14

123 1

40 1

400

624

180

1,253

248

319

360

198,075

99,034

99,042

183,758

90,897

92,861

2,865

6,725

7,116

21,387

41,574

69,239

11,602

9,213

1,672

1,099

1,768

265

1,724

2,990

2,552

3,986

1,885

1,369

5,017

913

2,346

538

231

1,882

5,730

6,090

20,147

40,207

65,825

11,170

8,816

1,672

1,099

1,768

265

1,550

2,349

2,183

2,592

1,792

558

5,017

643

2,156

218

29

1.153

1.153

18

8

144

44

90

10

91

21

14

190

320

203

13,165

6,984

6,181

965

995

1,025

1,241

1,358

3,271

388

396

84

641

369

1,384

3

790

256

Note: Due to rounding differences, components may not add precisely to the indicated totals. 1 Excludes in deposit assumption cases recovery of all advances for asset protection, totaling $32,757 thousand, and of all liquidation expenses, totaling $14,328 thousand. 2 Includes estimated losses in active cases. Not adjusted for interest or allowable return, which was collected in some cases in which the disbursement was fully recovered. 8 Includes estimated additional disbursements in active cases. 4 Excludes excess collections turned over to banks as additional purchase price at termination of liquidation.

228 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
INDEX

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
I n d e x

A b sorp tion s:

A pplications to p e rm it........................................................................................................... 9 -1 0

O f insured banks requiring disbursem ents b y the C orporation. S ee B anks 

in financial difficulties.

O f operating banks, 1934-1958................................9, 11-12, 86-127, 141-142, 22 4-22 8

A dm ission o f banks to insurance:

A pplications for, 1935-1958................................................................................................. 8 -9

D ifferent m ethods fo llo w e d ................................................................................................. 8

N um ber o f banks adm itted, b y class o f bank, 1958..............................................162-163

Alaska, adm ission to sta teh ood ................................................................................................12, 131

Am erican Institute o f B an k in g ................................................................................................. 15

A pplications from ba n k s.............................................................................................................. 8 -1 0

Areas outside continental U nited States, banks and branches located in:

Assets and liabilities, D ecem ber 31, 19 58...................................................................186-187

D eposits, D ecem ber 31, 1958........................................................................178-179, 186-187

Earnings, expenses, profits, and dividends, 1958.................................................... 208-209

N um ber, June 30, 19 58................................................................................... 172-173, 176-177

N um ber, D ecem ber 31, 1958........................................................................164, 171, 178-179

Page

Assessm ents for deposit insurance. S ee Federal D ep osit Insurance C orporation.

Assets and liabilities o f closed banks. S ee B anks in financial difficulties.

Assets, liabilities, and capital o f operating banks (see also D ep osits):

A ll banks:

A m ou n t and changes in, b y typ e and insurance status, 1 9 5 8 .. 145-147, 150-151

A m ou n t and changes in, selected dates, 1934-1958.........................................143-151

B y F D I C district and State, D ecem b er 31, 1958............................................ 186-187

In banks grouped according to insurance status and typ e o f bank,

June 23 and D ecem ber 31, 1958.......................................................................182-185

Percentage changes, selected dates, 1934-1958.................................................... 144

C om m ercial banks, June 23 and D ecem ber 31, 1958............................ 146, 182-185

Insured banks, D ecem b er 31, 1957, June 23 and D ecem ber 31, 1 9 5 8 .. 146, 188-191 

Insured com m ercial banks:

A m ou nt, D ecem b er 3 1 ,1 9 5 7 , June 23 and D ecem b er 3 1 ,1 9 5 8 .1 8 2 -1 8 5 ,1 8 8 -1 9 1

A verage fo r each year, 1950-1958.............................................................................. 197

A verage fo r 1958, b y class o f b a n k ........................................................................... 201

A verage fo r 1958, b y S ta te .........................................................209, 211, 213, 215, 217

231

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232 FEDERAL DEPOSIT INSURANCE CORPORATION

P age

P ercentage com parison w ith m utual savings banks, 1958............................... 146

Percentage distributions, average for each year, 1950-1958........................ 199

Percentage distributions, average for 1958, b y class o f b a n k ...................... 203

Percentage distributions, D ecem ber 31, 1957, June 23 and D ecem ber

31, 1958.......................................................................................................................... 189

R atio o f capital to total assets, 1934-1958............................................................ 149

R a tio o f selected item s to total assets, b y size o f bank, D ecem ber 31,

1958................................................................................................................................192-193

Insured m utual savings banks:

A m ou nt, D ecem ber 31, 1957, June 23 and D ecem ber 31, 1 9 5 8 .... 146, 188-191

M a jo r categories, average, 1951-1958..................................................................... 219

Percentage com parison w ith com m ercial banks, 1958...................................... 146

Percentage distributions, 1951-1958......................................................................... 221

M utual savings banks, June 23 and D ecem ber 31, 1958...........................146, 182-185

N oninsured banks, June 23 and D ecem ber 31, 1958...................................146, 182-185

Sources o f d a ta ......................................................................................................................... 12, 181

State legislation...................................................................................................................... 133-134

Assets and liabilities o f the Federal D ep osit Insurance C orp ora tion .................1 6 -18, 22

Assets pledged to secure bank obligation s........................................................................... 191

Assets purchased b y the Federal D ep osit Insurance C orporation from banks 

in financial difficulties. S ee B anks in financial difficulties.

A ssum ption o f deposits o f insured banks w ith financial aid o f the C orporation

(see also Banks in financial difficu lties)................4 -7 , 34-37, 86-127, 224-228

A u d it o f the Federal D ep osit Insurance C orp ora tion ............................................... 19, 2 1 -23

B ad -d ebt reserves. S ee V aluation reserves.

B an k supervision. S ee Supervision o f banks; E xam ination o f insured banks.

B anking offices, num ber of. S ee N um ber o f operating banks and branches.

B anking practices. S ee U nsafe and unsound banking practices.

Banks, applications from , acted on b y the Federal D ep osit Insurance

C orp ora tion ................................................................................................................... 8 -1 0

Banks in financial difficulties:

Insured banks requiring disbursem ents b y the C orporation:

Assets and liabilities of, 1934-1958.......................... 42, 5 4 -59, 9 2 -94, 104-115, 226

A ssets and liabilities of, 1 9 5 8 ....................................................................................6 -8 , 227

Causes o f fa ilu re .........................................................................................................6 -7 , 2 8 -2 9

C ollections b y receivers, 19 34-1958.............................................................. 4 6 -4 7 , 7 8 -8 5

D ep osit size o f ............................................................................................................ 29, 31, 224

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INDEX 233

D eposits p rotected , 1 9 3 4 -1 9 5 8 ... .4 -6 , 28, 36, 43-44, 66-71, 106-109, 224-22 7

D isbursem ents b y the C orporation, 1934-1958..................................................

.................. 5 -7 , 23n, 33, 34, 36, 44, 7 2 -7 7 , 93 -94, 110-115, 224-225, 227-22 8

Loans m ade and assets purchased b y the C o rp ora tion...............................

...............................................................................................6 -8 , 18, 22, 87-89, 122-127

L ocation b y State, 1934-1958..............................................................................29 -30, 225

Losses incurred b y the C orp ora tion .........................................................................

..........................................................6-7, 16, 22-23, 33, 72-77, 94-95, 116-121, 228

Losses incurred b y d ep ositors ................................. 4 -6 , 28, 30 -32, 43, 54 -5 9 , 66 -71

N am e and location of, 1934-1958............................ 6 -8 , 42, 48-53, 92, 98-103, 227

N um ber of, 1934-1958..............................................................................4 -7 , 2 7 -28, 37, 86

N um ber o f deposit accounts, 19 34-1958.................................................................

.............................................................4 -5 , 32, 42 -4 3 , 60-65, 104-109, 224-225, 227

R econ stru ction F inance C orporation, aid to banks. .45, 7 2 -77, 95 -96, 116-121

R ecoveries b y the C orporation on assets acquired, 1934-1958...................

.......................................................... 6 -7 , 33-36, 44 -45, 72-77, 94 -95, 116-121, 228

R ecoveries b y stock h old ers...........................................................72-77, 90 -91, 116-127

Sources o f d a ta .......................................................................................................................... 223

Suspensions o f noninsured banks, 1934-1958..................................................28n, 162, 223

Banks, num ber of. S ee N um ber o f operating banks and branches.

B anks operating branches. S ee N um ber o f operating banks and branches.

B oard o f D irectors o f the F ederal D ep osit Insurance C orporation. S ee Federal 

D ep osit Insurance C orporation.

B oard o f G overnors o f the Federal R eserve S y ste m ................................8-12, 15, 181, 195

B ranches (see also N um ber o f operating banks and bran ch es):

E stablishm ent approved b y Federal D ep osit Insurance C orporation, 1 9 5 8 .. 9 -1 0

E xam ination of, 1957 and 1958......................................................................................... 10

Increase, branches o f all banks, 1934-1958...................................................... 139-142, 163

State legislation......................................................................................................................... 132

Business and personal deposits. S ee D eposits (item s referring to ty p e o f 

accou n t).

C all reports. S ee Assets, liabilities, and capital o f operating banks; R eports 

from banks.

C apital o f banks. S ee A ssets, liabilities, and capital o f operating banks; B anks 

in financial difficulties; Earnings and expenses o f insured com m ercial 

banks; E xam ination o f insured banks.

Charge-offs b y banks. S ee Earnings and expenses o f insured m utual savings 

banks; Earnings and expenses o f insured com m ercial banks; Valuation reserves.

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234 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Class o f bank, banking data presented b y :

Adm issions to and term inations o f insurance........................................................... 162-163

Earnings o f insured com m ercial banks, 1 9 5 8 ............................................................200-201

Insured banks requiring disbursem ents b y the C orporation, 1934-1958.........

...................................................................................................................48-53, 98-103, 224

Insured banks requiring disbursem ents b y the C orporation, 19 58.................... 227

N um ber o f banks and banking offices, 1958..............................................................162-171

N um ber o f offices o f com m ercial banks, June 30, 1958........................................174-175

R atios o f earnings o f insured com m ercial banks, 19 58.........................................202-203

Classification o f b a n k s................................................................................................................160-161

C losed banks. S ee Banks in financial difficulties.

C om m ercial banks. S ee Assets, liabilities, and capital o f operating banks;

D ep osits; E arnings and expenses o f insured com m ercial banks; 

N um ber o f operating banks and branches.

C om ptroller General o f the U nited S ta tes..................................................................... 19, 21 -2 3

C om ptroller o f the C u rren cy .............................................................................. 8, 12, 13, 181, 195

C onsolidations. S ee A bsorptions.

C overage o f deposit insurance, banks participating. .3, 12-13, 143, 162-171, 178-179 

C redit, bank. S ee Assets, liabilities, and capital o f operating banks.

D em and deposits. S ee Assets, liabilities, and capital o f operating banks; D e ­

posits (item s referring to typ e o f accou n t).

D ep osit insurance fund, adequ acy o f ..........................................................................22, 23n, 27n

D ep osits:

A ll banks:

B y insurance status o f bank and typ e o f account, D ecem ber 31, 1 9 5 8 .. 150, 185

B y insurance status o f bank and typ e o f account, June 2 3 ,1 9 5 8 ................. 183

B y typ e o f accou n t in each State and F D IC district, D ecem ber 31,

1958............................................................................................................................... 186-187

B y typ e o f bank and insurance status, D ecem ber 31, 1958.......................... 142

B y typ e o f bank in each State and F D I C district, D ecem ber 31, 1 9 5 8 .. 178-179

Changes in, 1934-1958..................................................................................................147-148

P ercentage change, selected dates, 1934-1958....................................................... 148

Percentage change, 1957 to 1 9 5 8 .............................................................................150-151

A ll insured banks:

B y typ e o f accoun t, D ecem b er 31, 1958..............................................................150, 185

B y typ e o f accoun t, D ecem b er 31, 1957, June 23 and D ecem b er 3 1 ,1 9 5 8 . 190 

R atios o f deposit insurance fu nd to, 1934-1958...........................................18-19, 23n

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Federal Reserve Bank of St. Louis
INDEX 235

Page

C om m ercial banks:

B y F D I C district and State, D ecem ber 31, 1958............................................ 178-179

B y typ e o f accoun t, D ecem ber 31, 19 58................................................................ 185

B y typ e o f account, June 23, 1958............................................................................ 183

Insured banks requiring disbursem ents b y the C orporation. S ee B anks in 

financial difficulties.

Insured com m ercial banks:

A m ou nt, b y typ e o f account, D ecem ber 31, 1957, June 23 and D ecem ber

31, 1958........................................................................................................................150, 190

Insured m utual savings banks:

B y F D IC district and State, D ecem ber 31, 1958............................................ 178-179

B y typ e o f accoun t, D ecem ber 31, 1957, June 23 and D ecem ber 31, 1958 190

Interest and dividends on, 1934-1958................................................153, 218, 220-221

M utual savings banks:

B y F D I C district and State, D ecem ber 31, 1958............................................ 178-179

B y typ e o f accoun t, June 23 and D ecem ber 31, 1958.........................150, 183, 185

N oninsured banks:

B y F D IC district and State, D ecem ber 31, 1958............................................ 178-179

B y typ e o f accoun t and typ e o f bank, June 23 and D ecem ber 31, 1 9 5 8 ..

...............................................................................................................................150, 183, 185

Sources o f d a ta .......................................................................................................................... 181

State legislation......................................................................................................................... 133

D eposits, insured b y F D IC , D ecem ber 31, 1934-1958................................................... 19

D irectors o f the Federal D ep osit Insurance C orporation. S ee F ederal D ep osit 

Insurance C orporation.

D isbursem ents. S ee B anks in financial difficulties.

D ividen d s:

T o depositors in insured m utual savings b a n k s....................................153, 218, 220-221

T o stockholders o f operating insured com m ercial banks. S ee E arnings and 

expenses o f insured com m ercial banks.

Earnings and expenses o f insured com m ercial banks:

A m ou nts o f principal com ponen ts:

A nnually, 1950-1958......................................................................................................196-197

B y class o f bank, 19 58................................................................................................. 200-201

B y size o f bank, 19 58................................................................................................... 204-205

B y State, 1958................................................................................................................. 208-217

Charge offs and recoveries, 1934-1958................................................................152, 154-155

Incom e, sources and disposition o f total, selected years, 1934-1958. .152, 154-156

Profits, 1934-1958........................................................................................................155-157, 197

R ate o f incom e on assets, 1934-1958............................154, 198-199, 202-203, 206-207

R ate o f net profit on total capital accounts, 1934-1958................... 154, 198, 203, 207

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236 FEDERAL DEPOSIT INSURANCE CORPORATION

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R atios o f earnings item s:

A nnually, 1950-1958......................................................................................................198-199

B y class o f bank, 1 9 5 8 ................................................................................................. 202-203

B y size o f bank, 1958..........................................................................................192, 20 6-20 7

R atios o f expense ite m s................................................................198-199, 202-203, 20 6-20 7

Sources o f d a ta .......................................................................................................................... 195

Earnings and expenses o f insured m utual savings b a n k s:

A m ou nts o f principal com ponen ts, 1951-1958.......................................................... 218-219

Incom e, sources and disposition o f total, selected years, 1934-1958................. 153

R ate o f incom e on assets, selected years, 1934-1958.............................................154, 221

R atios o f earnings item s, 1951-1958..............................................................................220-221

R atios o f expense ite m s ...................................................................................................... 220-221

Sources o f d a ta .......................................................................................................................... 195

E ducation al program fo r bank exam iners. S ee Federal D ep osit Insurance C orporation.

E m ployees:

Federal D ep osit Insurance C orp ora tion ........................................................................ 14-15

Insured com m ercial banks:

N um ber and com pensation, 1950-1958.................................................................196-197

N um ber and com pensation, b y class o f bank, b y size o f bank, and b y

State, 1958........................................................................... 200-201, 204-205, 20 8-21 7

Insured m utual savings banks, num ber and com pensation, 1 9 5 1 -1 9 5 8 ... .21 8 -2 1 9 

State legislation...................................................................................................................... 134-135

E xam ination o f insured banks:

Banks exam ined b y the Federal D ep osit Insurance C orporation, 1957-1958. 10-11 

E xam ination s ta ff..................................................................................................................... vi, 14

Expenses o f banks. S ee E arnings and expenses o f insured com m ercial banks; 

Earnings and expenses o f insured m utual savings banks.

Expenses o f the C orporation. S ee F ederal D ep osit Insurance C orporation, 

incom e and expenses.

Failures. S ee B anks in financial difficulties.

Federal bank supervisory au th orities..................................................................................... 8 -1 2

Federal D ep osit Insurance A ct (see also L egislation relating to deposit insurance and b a n k in g ..........................................................................iii, 13, 16, 17, 23n

F ederal D ep osit Insurance C orporation:

Assessm ents on insured b a n k s................................................................ 16-21, 23n, 131-132

Assets and liabilities................................................................................................... 16-18, 21 -2 2

A u d it.........................................................................................................................................19, 21 -2 3

B anks exam ined b y , and su bm itting reports t o ......................................................... 10-12

B oard o f D irectors, actions on applications and banking p ra ctice s ............ 8 -1 2

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B orrow in g p o w e r................................................................................................................... 18n, 23n

C apital s to c k ...........................................................................................................................17n, 18n

C overage o f deposit insurance........................................................................................ 3, 12-13

D ep osit insurance fu n d (su rp lu s)......................................................................... 17-20, 22 -2 3

D irectors (m em bers o f the B oard ), 1933-1958................................................iv -v , 13-14

Disbursem ents for protection o f depositors. S ee B anks in financial difficulties.

D istricts........................................................................................................................................ v i-v ii

D iv ision s.................................................................................................................................... iv -v , 14

E ducational program for bank exam iners..................................................................... 15

E m p loy ees................................................................................................................................... 14-15

E xam ination o f banks. S ee E xam ination o f insured banks.

Expenses. S ee In com e and expenses.

Financial statem en ts..........................................................................................................19, 21 -23

In com e and expenses.............................................................................................................. 16-20

Insured banks requiring disbursem ents by. S ee B anks in financial difficulties. 

L iabilities................................................................................................................................17, 18, 22

INDEX 237

L oans to and purchase o f assets from insured banks. S ee B anks in financial

difficulties.

Losses incurred, 1934-1958. S ee B anks in financial difficulties.

M eth ods o f p rotectin g depositors. S ee B anks in financial difficulties.

O rganization and sta ff.................................................................................................iv -v i, 13-15

P aym en ts to insured depositors. S ee B anks in financial difficulties.

P rotection o f depositors. S ee B anks in financial difficulties.

R ecoveries. S ee B anks in financial difficulties.

R ep orts from b a n k s................................................................................................................. 12

R eserve fo r losses on assets a cq u ire d .............................................................................. 18, 22

R etirem ent o f capital stock o f the C orp ora tion ......................................................17n, 18n

R ules and regulations................................................................................................... 13, 131-132

Supervisory a ctiv itie s............................................................................................................. 8 -1 2

F ederal D ep osit Insurance C orporation districts, banking data classified b y :

A ll banks:

Assets and liabilities, D ecem ber 31, 19 58.............................................................. 186

N um ber and deposits, b y typ e o f bank, D ecem ber 31, 1958........................ 178

F ederal R eserve System . S ee B oard o f G overnors o f the F ederal R eserve System . 

General A ccou n tin g O ffice......................................................................................................19, 2 1 -23

G overnm ent deposits. S ee D eposits (item s referring to typ e o f accou n t).

In com e o f insured banks. S ee Earnings and expenses o f insured com m ercial 

banks; Earnings and expenses o f insured m utual savings banks.

Incom e o f the Federal D ep osit Insurance C orporation. S ee F ederal D ep osit 

Insurance C orporation.

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238 FEDERAL DEPOSIT INSURANCE CORPORATION

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In solven t banks. S ee B anks in financial difficulties.

Insurance status, banks classified b y :

Assets and liabilities, D ecem b er 31, 1957, June 23 and D ecem b er 31, 1 9 5 8 ..

......................................................................................................................182-185, 188-191

Changes in num ber, 1958...................................................................................................162-163

D eposits, June 23 and D ecem b er 31, 1958.............................................178-179, 183, 185

N um ber, June 30, 1958....................................................................................................... 174-175

N um ber, D ecem ber 31, 1958............................................................................................ 162-171

Percentage o f banks insured, b y State, D ecem b er 31, 1958......................... 3, 164-171

Insured banks. S ee Assets, liabilities, and capital o f operatin g banks; B anks 

in financial difficulties; D ep osits; Earnings and expenses o f insured 

com m ercial banks; E arnings and expenses o f insured m utual savings 

banks; N um ber o f operating banks and branches.

Insured com m ercial banks n o t m em bers o f the F ederal R eserve S ystem . S ee

Class o f bank, banking data presented b y .

Insured deposits. S ee B anks in financial difficulties; C overage o f deposit insurance, banks participating.

Insured State banks m em bers o f the Federal R eserve S ystem . S ee Class o f 

bank, banking data presented b y .

Interban k deposits. S ee D ep osits (item s referring to typ e o f accou n t).

Interest. S ee E arnings and expenses o f insured com m ercial banks; E arnings 

and expenses o f insured m utual savings banks.

Investm ents. S ee Assets, liabilities, and capital o f operating banks; Assets and 

liabilities o f the F ederal D ep osit Insurance C orporation ; B anks in 

financial difficulties; E xam ination o f insured banks.

L aw , violations o f b y insured banks. S ee U nsafe and unsound banking practices.

L egislation relating to deposit insurance and banking:

Federal, enacted in 1958...................................................................................................... 12, 131

State, enacted in 1 9 58..................................................................................................13, 132-135

Loans. S ee Assets, liabilities, and capital o f operating banks; B anks in financial 

difficulties; E xam ination o f insured banks.

L osses:

O f banks, charged off. S ee E arnings and expenses o f insured com m ercial 

banks; E arnings and expenses o f insured m utual savings banks.

O f the F ederal D ep osit Insurance C orporation. S ee F ederal D ep osit In ­

surance C orporation ; B anks in financial difficulties.

P rovision for, in insured com m ercial banks, 1950-1958....................................1 96-197

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INDEX 239

Page

M ergers. S ee A bsorptions.

M eth ods o f tabulating banking data:

Assets and liabilities o f operating b a n k s....................................................................... 181

D ep osit insurance d isbursem ents.............................................................................. 93-94, 223

E arnings, expenses, and dividends o f insured b a n k s ............................................... 195

N um ber, offices, and deposits o f operating b a n k s .................................................. 160-161

M etropolitan areas, banking data classified by. S ee N um ber o f operating 

banks and branches.

M utual savings banks. S ee Assets, liabilities, and capital o f operating banks;

D ep osits; Earnings and expenses o f insured m utual savings banks; 

N um ber o f operating banks and branches.

N ational banks. S ee Class o f bank, banking data presented by .

N e t assessm ent incom e credits. S ee Federal D ep osit Insurance C orporation, 

assessments on insured banks.

N e t earnings o f insured com m ercial banks. S ee Earnings and expenses o f insured com m ercial banks.

N e t profits o f insured com m ercial banks. S ee Earnings and expenses o f insured 

com m ercial banks.

N ew banks. S ee N um ber o f operating banks and branches.

N oninsured banks. S ee A bsorption s; A dm ission o f banks to insurance; Assets, 

liabilities, and capital o f operating banks; Banks in financial difficulties; Class o f bank, banking data presented b y ; D eposits; N um ber 

o f operating banks and branches; R eports from banks.

N um ber o f operating banks and branches:

B anking offices (banks and bran ch es):

B y character o f branch system , location o f branch, popu lation o f center

in w hich located, and State, June 30, 1958................................................. 172-173

B y insurance status, typ e o f bank, and State, D ecem ber 31, 1 9 5 8 .. .162-171

Changes, 1934-1958....................................................................................................... 139-142

B y m etropolitan areas and typ e o f office, June 30, 1958............................. 176-177

B y num ber o f com m ercial banking offices in center in w hich located, 

ty p e o f office, insurance status, and popu lation o f center, June 30,

1958............................................................................................................................... 174-175

B an ks:

B y insurance status and typ e o f bank, D ecem b er 31, 1958............. 142, 162, 185

B y insurance status and typ e o f bank, June 23, 1958..................................... 183

B y insurance status, typ e o f bank, and State, D ecem ber 31, 1958.........164-171

B y insurance status, typ e o f bank, F D I C district and State, D ecem b er

31, 1958........................................................................................................................178-179

C hanges during 1958, b y insurance status and typ e o f b a n k ..................... 142, 162

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240 FEDERAL DEPOSIT INSURANCE CORPORATION

O perating branches, b y character o f branch system , location o f branch

and p opu lation o f center in w hich located, and State, June 3 0 ,1 9 5 8 .. 172-173 

O perating branches, b y insurance status and State, D ecem b er 31, 1958

.........................................................................................................................................164-171

O perating branches, b y m etropolitan areas, June 30, 1 9 58.........................176-177

O perating branches, b y num ber o f banking offices in center in w hich

located, p opu lation o f center, and insurance status, June 30, 1958. .1 7 4 -1 7 5 

B ranches:

B y insurance status, typ e o f bank, and State, D ecem b er 31, 1 9 58____163-171

B y location o f bran ch and b y p opu lation o f center in w hich located,

and State, June 30, 19 58......................................................................................172-173

B y m etropolitan areas, June 30, 1 9 5 8 ...................................................................176-177

B y num ber o f com m ercial banking offices in center in w hich located,

insurance status, and p opu lation o f center, June 30, 19 58.................174-175

C hanges during 1958, b y insurance status and typ e o f b a n k .................... 142, 163

Insured banks, D ecem b er 31, 1957, June 23, and D ecem ber 31, 1958........... 191

Insured com m ercial banks:

D ecem b er 31, 1950-1958................................................................................................ 197

D ecem b er 31, 1958, b y class, deposit size o f bank, and S ta te .................

.......................................................................................201, 205, 209, 211, 213, 215, 217

D istributed b y capital ratios and distribution o f assets, D ecem ber

31, 1958........................................................................................................................192-193

M utual savings banks, D ecem ber 31, 19 58........................................... 142, 162, 164-171

T ru st com panies, D ecem ber 31, 19 58...................................................... 142, 162, 164-171

U nit banks, b y insurance status and State, D ecem ber 31, 1958.................164-171

U nit banks, b y m etropolitan areas, June 30, 1958............................................... 176-177

U nit banks, b y num ber o f banking offices in center, population o f center,

and insurance status, June 30, 1958............................................................... 174-175

O bligations o f banks. S ee Assets, liabilities, and capital o f operating banks; 

D eposits.

Officers o f insured banks. S ee E m ployees.

Officers o f the F ederal D ep osit Insurance C orp oration ......................................v -v i, 13-14

O perating banks. S ee N um ber o f operating banks and branches.

P aym ents to depositors in closed insured banks. S ee B anks in financial 

difficulties.

Personnel. S ee E m ployees.

P opulation o f center, banking data classified b y :

N um ber o f com m ercial banks operating branches, num ber o f branches,

and character o f branch system , June 30, 1958.........................................172-173

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Federal Reserve Bank of St. Louis
INDEX 241

P age

N u m ber o f operating banking offices o f com m ercial banks, b y num ber in 

center in w hich located, typ e o f office, and insurance status, June 

30, 1958........................................................................................................................174-175

Possessions, banks and branches located in. S ee Areas outside continental 

U nited States, banks and branches located in.

Profits. S ee E arnings and expenses o f insured com m ercial banks.

P rotection o f depositors. S ee B anks in financial difficulties.

P u blic funds. S ee D ep osits (item s referring to typ e o f accou n t).

R eceivership, insured banks placed in. S ee B anks in financial difficulties.

R econ stru ction F inan ce C orporation, aid to banks. S ee B anks in financial 

difficulties.

R ecoveries:

B y banks on assets charged off. S ee E arnings and expenses o f insured com ­

m ercial banks; E arnings and expenses o f insured m utual savings 

banks.

B y the C orporation on disbursem ents. S ee B anks in financial difficulties.

R ep orts from b a n k s....................................................................................................................... 12

R eserves:

O f F ederal D ep osit Insurance C orporation, fo r losses on assets a c q u ir e d .. 18, 22

O f insured banks for losses on assets. S ee V aluation reserves.

W ith Federal R eserve banks. S ee Assets, liabilities, and capital o f operating 

banks.

Salaries and w ages:

F ederal D ep osit Insurance C o rp ora tio n ...................................................................20, 2 2 -23

Insured banks. S ee E arnings and expenses o f insured com m ercial banks; 

E arnings and expenses o f insured m utual savings banks.

Savings and tim e deposits. S ee D ep osits (item s referring to typ e o f a ccou n t).

Securities. S ee Assets, liabilities, and capital o f operating banks; Assets and 

liabilities o f the F ederal D ep osit Insurance C orporation ; B anks in 

financial difficulties.

Size o f bank, data fo r banks classified b y am ount o f deposits:

A ssets and liabilities, insured com m ercial banks operating throughou t

1958...............................................................................................................................205, 207

B anks requiring disbursem ents b y the C orporation, 1934-1958.................29, 31, 224

D isbursem ents for protection o f depositors, 1934-1958.......................................... 224

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Federal Reserve Bank of St. Louis
242 FEDERAL DEPOSIT INSURANCE CORPORATION

P age

E arnings data o f insured com m ercial banks, 1958................................................. 204-205

Earnings ratios o f insured com m ercial banks, 1958...............................................206-207

N um ber o f em ployees o f insured com m ercial banks operating throughout

1958.................................................................................................................................. 205

N um ber o f insured com m ercial banks operating throughout 1958.................205, 207

N um ber o f insured com m ercial banks grouped b y ratios o f selected item s

to assets, D ecem ber 31, 1958............................................................................. 192-193

State bank supervisory authorities:

D a ta obtained fr o m ................................................................................................................ 181

State legislation regardin g................................................................................................... 132

State, banking data classified b y :

Assets and liabilities o f operating banks, D ecem ber 31, 19 58...........................186-187

D eposits o f operating banks, b y class o f bank, D ecem ber 31, 19 58...............178-179

Disbursem ents, deposits, and depositors in insured banks requiring disbursem ents b y the C orporation, 1934-1958........................................... 2 9 -30, 225

E arnings and expenses o f insured com m ercial banks, 1 9 5 8 ............................... 208-21 7

N um ber o f com m ercial banks operating branches, and num ber o f branches, 

b y character o f branch system , location o f branch and popu lation

o f center in w hich located, June 30, 19 58.................................................... 172-173

N um ber o f operating banks and branches, b y class o f bank and typ e o f

office, D ecem ber 31, 1958....................................................................................164-171

N um ber o f operating banks, b y class o f bank, D ecem ber 31, 19 58............... 178-179

P ercentage o f banks insured, D ecem b er 31, 1 9 58............................................. 3, 164-171

State banking legislation enacted in 1958..................................................................13, 132-135

S tate banks m em bers o f the F ederal R eserve System . S ee Class o f bank, banking 

data presented by.

State banks n ot m em bers o f the Federal R eserve System . S ee Class o f bank, 

banking data presented by.

Stockholders o f banks, net profits available for. S ee E arnings and expenses o f 

insured com m ercial banks.

Sum m ary o f this r e p o r t................................................................................................................ x v

Supervision o f banks ( see also E xam ination o f insured b a n k s):

B y the Federal D ep osit Insurance C orp o ra tion .................................................... vi, 8 -1 2

State legislation, 1958............................................................................................................ 132

Suspensions. S ee Banks in financial difficulties.

T axes paid b y insured banks. S ee Earnings and expenses o f insured com m ercial 

banks; Earnings and expenses o f insured m utual savings banks.

Term inations o f insurance for unsafe and unsound practices 11-12

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Federal Reserve Bank of St. Louis
INDEX 2 4 3

Page

T im e and savings deposits. S ee D eposits (item s referring to typ e o f accou n t).

T ru st com panies, classification o f ..........................................................................................160-161

T ru st pow ers:

A pplications f o r ......................................................................................................................... 9

S tate legislation......................................................................................................................... 134

U n it banks. S ee N um ber o f operating banks and branches.

U nsafe and unsound banking p ra ctices ................................................................................ 11-12

V aluation reserves (see also Assets, liabilities, and capital o f operating b a n k s):

A m ounts held, D ecem ber 31, 1957, June 23 and D ecem ber 31, 1958............

.................................................................................................................... 146, 182, 184, 189

Changes, 1950-1958...........................................................................................196-197, 218-219

V iolations o f law or regulations, banks charged with. S ee U nsafe and unsound 

banking practices.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis