ANNUAL REPORT

OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

FOR THE YEAR ENDING 

DECEMBER 31, 1939

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Federal Reserve Bank of St. Louis
DIRECTORS

of the

FEDERAL DEPOSIT INSURANCE CORPORATION

L e o T . C r o w l e y

Chairman

P h il l ip s L e e G o l d s b o r o u g h

P r e s t o n D e l a n o

Comptroller o f the Currency

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Federal Reserve Bank of St. Louis
LETTER OF TRANSMITTAL

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 ,

Washington, D. C., May 2k, 19k0.

SIR: Pursuant to the provisions of subsection (r) of section 

12B of the Federal Reserve Act, as amended, the Federal Deposit 

Insurance Corporation has the honor to submit its annual report.

Respectfully,

L e o T . C r o w l e y , Chairman.

T h e P r e s i d 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 s e o f R e p r e s e n t a t i v e s

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
CONTENTS

Page

Introduction and sum m ary............................................................................................. 3

PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

Principles and policies..................................................................................................... 9

Deposit insurance............................................................................................................ 9

Insurance coverage.......................................................................................................... 9

Adequate financial resources....................................................................................... 10

Development of supervisory standards and procedures................................... 10

Adequate bank capital................................................................................................... 12

Quality of assets............................................................................................................... 13

The role of bank supervision....................................................................................... 14

Operating results of deposit insurance................................................................ 15

Insured banks suspended or merged......................................................................... 15

Payment of deposits in banks placed in receivership........................................ 16

Loans to facilitate mergers........................................................................................... 18

Protection of deposits in operating and closed banks....................................... 19

Repayments to the Corporation................................................................................ 19

Recoveries from banks in receivership..................................................................... 20

Receivership activities of the Corporation............................................................ 21

Recoveries on loans and assets purchased.............................................................. 21

Supervisory activities of the Corporation......................................................... 22

Admissions to insurance................................................................................................ 22

Terminations of insurance............................................................................................ 24

Bank examinations.......................................................................................................... 24

Unsafe and unsound banking practices................................................................... 25

Capital adjustments of banks..................................................................................... 26

Establishment of branches and relocation of banking offices......................... 28

Approval of assumption or release of deposits..................................................... 29

Regulations and rulings................................................................................................. 29

Reports from banks......................................................................................................... 30

Legislation during 1939 affecting deposit insurance................................... 30

Federal legislation............................................................................................................ 30

State legislation directly affecting the operations of the Corporation. . . . 31

State legislation relating to bank supervision....................................................... 32

Operating statement of the Corporation............................................................ 33

Organization and staff................................................................................................... 33

Extension of civil service to employees of the Corporation............................ 34

Competitive examination for assistant bank examiners................................... 34

Income and expenses...................................................................................................... 34

Claims held by Corporation against suspended and merged banks............ 35

Audit..................................................................................................................................... 35

Assets and liabilities....................................................................................................... 35

PART TW O

DEPOSIT INSURANCE AND B AN K IN G DEVELOPM ENTS

B a n k in g d e v e lo p m e n ts 1934-1939................................................................................ .........43

C o m m e rc ia l b a n k in g o f f i c e s ......................................................................................... .........43

Banking offices in operation..................................................................................................43

Distribution of banks by size...............................................................................................44

A s s e t s a n d l i a b i l i t i e s o f in s u r e d c o m m e rc ia l b a n k s ................................................44

Changes during six years 1934-1939......................................................................... .........44

Changes during 1939................................................................................................................46

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Examiners’ appraisal of condition of insured commercial ban k s........... 46

Analysis of assets.............................................................................................................. 46

Analysis of capital accounts......................................................................................... 49

E arnings of insured commercial banks.................................................................. 51

Current operating earnings.......................................................................................... 51

Income on loans................................................................................................................ 52

Current operating expenses......................................................................................... 54

Interest on time and savings deposits..................................................................... 54

Net current operating earnings.................................................................................. 55

Net profits.......................................................................................................................... 56

Insured mutual savings ban k s..................................................................................... 57

PART THREE

SPECIAL REPORTS

N o t e........................................................................................................................................... 61

PART FOUR

LEG ISLATIO N AND REGULATIONS

D eposit insurance legislation..................................................................................... 65

Repeal of provision requiring certain insured banks to become members of

the Federal Reserve System................................................................................... 65

Congressional study of national monetary and banking policy............ 66

Regulations of the Corporation............................................................................... 67

Part 305— Recognition of deposit ownership not on bank records.............. 67

Part 307— Insurance of trust funds.......................................................................... 68

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Explanatory notes............................................................................................................. 71

Sources of data.................................................................................................................. 71

Classification of banks and banking offices............................................................ 71

Deposits of banks and banking offices..................................................................... 73

Assets and liabilities of operating banks................................................................ 73

Examiners’ analysis of insured banks...................................................................... 74

Earnings, expenses, and disposition of profits of insured banks................... 76

Suspensions, receiverships, and mergers................................................................. 78

N umber of banking offices............................................................................................ 80

D eposits of banking offices.......................................................................................... 112

Assets and liabilities of operating b a n k s............................................................ 124

Capital investment of the Reconstruction Finance Corporation___ 144

Examiners’ analysis of insured commercial banks......................................... 150

Examiners’ analysis of insured commercial banks not members of

the Federal Reserve System ................................................................................ 176

Earnings of insured commercial banks.................................................................. 180

Earnings of insured banks not members of the Federal Reserve

System .................................................................................................................................... 190

Suspensions, receiverships, and mergers............................................................... 206

A ctions by the Corporation on applications from b a n k s............................ 228

Vi FEDERAL DEPOSIT INSURANCE CORPORATION

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LIST OF TABLES vii

CHART

Page

Organization chart of the Federal Deposit Insurance Corporation.................... 5

LIST OF TABLES 

PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

O p e r a t in g r e s u l t s o f d e p o s it i n s u r a n c e :

1. Protection afforded by the Corporation in banks in financial difficulties, 1934-1939............................................................................................ 16

2. Disbursements of the Corporation in connection with banks in

financial difficulties, 1934-1939.................................................................. 17

3. Statiis as of December 31, 1939, of deposits of insured banks placed

in receivership.................................................................................................. 17

4. Percent of deposits protected in closed insured banks and insured in

operating insured banks: banks grouped by amount of deposits. 20

5. Distribution of insured banks closed because of financial difficulties

according to percent of repayments to the Corporation as of

December 31, 1939......................................................................................... 21

S u p e r v is o r y a c t iv it ie s o f t h e C o r p o r a t io n :

6. Number of insured banks on December 31, 1939, and January 1,

1934...................................................................................................................... 22

7. Banks cited for engaging in unsafe or unsound practices and violations of law or regulations, 1936-1939.................................................... 26

8. Unsafe and unsound banking practices and violations of law for

which 19 banks were cited by the Corporation during 1939......... 27

O p e r a t in g s t a t e m e n t o f t h e C o r p o r a t io n :

9. Officers and employees of the Corporation, December 31, 1939.... 33

10. Income and expenses of the Corporation since beginning operations 35

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

calendar year 1939......................................................................................... 36

12. Auditors’ report................................................................................................... 37

13. Comparative balance sheet of the Federal Deposit Insurance Corporation, December 31, 1939, and December 31, 1938......................... 40

PART TW O

DEPOSIT INSURANCE AND BAN KIN G DEVELOPMENTS

C o m m e r c ia l b a n k in g o f f ic e s :

14. Number of commercial banking offices in the United States and

possessions, December 31, 1939, and January 1, 1934..................... 43

15. Number of commercial banks in the United States and possessions,

1939 and 1934: grouped by amount of deposits.............................. 44

A sse t s a n d l ia b il it ie s of in s u r e d c o m m e r c ia l b a n k s :

16. Assets and liabilities of operating insured commercial banks,

December 30, 1939, and June 30, 1934.................................................. 45

E x a m in e r s ' a p p r a is a l o f c o n d it io n o f in s u r e d c o m m e r c ia l b a n k s :

17. Appraised value of assets per $100 of book value, examination in

1939: insured commercial banks............................................................ 47

18. Number and deposits of banks grouped by fixed and substandard

assets ratio, examination in 1939: insured commercial banks . 47

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viii FEDERAL DEPOSIT INSURANCE CORPORATION

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E x a m in e r s ’ a p p r a is a l o f c o n d itio n o f in s u r e d c o m m e r c ia l b a n k s —

Continued:

19. Substandard asset and net sound capital ratios, examination in

1939: insured commercial banks grouped by amount of deposits 48

20. Examiners’ analysis of assets, examinations 1933-1939: insured

commercial banks not members of the Federal Reserve System.. 49

21. Proportion of assets not criticized by examiners, examinations

1934-1939: insured commercial banks not members of the

Federal Reserve System............................................................................... 49

22. Number and deposits of banks grouped by n^t sound capital ratio,

examination in 1939: insured commercial banks ................... 50

23. Percentage distribution of banks according to ratio of net sound

capital to deposits, examinations 1933-1939: insured commercial

banks not members of the Federal Reserve System......................... 51

E a r n in g s of in s u r e d c o m m e r c ia l b a n k s :

24. Earnings, expenses, and dividends, 1934-1939: insured commercial

banks ........................................................................................................... 52

25. Interest received on loans and on securities and interest paid on

time and savings deposits, 1934-1939: insured commercial banks 53

26. Rates of net earnings, net profits, and dividends, 1934-1939: insured commercial banks .......................................................................... 55

27. Percentage distribution of banks according to rate of net earnings

and of net profits on total capital accounts, 1939 and 1938: insured commercial banks............................................................................... 57

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

N u m b e r o f b a n k in g o f f ic e s :

101. Number and classification of operating banking offices, December

31, 1935-1939......................................................................................................... 80

102. Analysis of admissions to and terminations of insurance in each class

of bank, 1934-1939.............................................................................................. 82

103. Analysis of changes in number and classification of operating banking offices in the United States and possessions during 1939............ 88

104. Number of operating banking offices, December 31, 1939

Grouped according to insurance status and class of bank and by type

of office in each State and possession....................................................... 90

105. Number of operating banking offices, June 30, 1939

Grouped according to insurance status and class of bank and by type

of office and amount of deposits................................................................... 98

106. Number of operating banks, June 30, 1939

Grouped according to insurance status and class of bank and by type

of bank and amount of deposits................................................................... 100

107. Number of operating banks, June 30, 1939

Grouped according to insurance status and class of bank in each

State and in the possessions......................................................................... 102

108. Number of operating commercial banks, June 30, 1939

Grouped according to amount of deposits and by insurance status in

each State and in the possessions................................................................ 104

109. Number of operating mutual savings banks, June 30, 1939

Grouped according to amount of deposits and by insurance status in

each State............................................................................................................ 108

110. Number of commercial banks operating branches and number of

branches, June 30, 1939

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..................................... 110

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D e p o s it s of b a n k in g o f f ic e s :

111. Deposits of operating banking offices, June 30, 1939

Offices grouped according to insurance status and class of bank and

by type of office and amount of deposits................................................... 112

112. Deposits of operating banks, June 30, 1939

Banks grouped according to insurance status and class of bank and

by type of bank and amount of deposits................................................... 114

113. Deposits of operating banks, June 30, 1939

Banks grouped according to insurance status and class of bank in

each State and in the possessions................................................................ 116

114. Deposits of operating commercial banks, June 30, 1939

Banks grouped according to amount of deposits and by insurance

status in each State and in the possessions.............................................. 118

115. Deposits of operating mutual savings banks, June 30, 1939

Banks grouped according to amount of deposits and by insurance

status in each State......................................................................................... 122

A sse t s a n d l ia b il it ie s of o p e r a t in g b a n k s :

116. Summary of assets and liabilities of operating banks in the United

States and possessions, 1935-1939

Banks grouped by insurance status and type of bank.......................... 124

117. Assets and liabilities of operating insured commercial banks, call

dates 1935-1939.................................................................................................... 128

118. Classes of securities held by operating insured commercial banks,

call dates 1934-1939............................................................................................ 132

119. Assets and liabilities of operating insured commercial banks not

members of the Federal Reserve System, call dates 1935-1939.... 134

120. Assets and liabilities of operating insured commercial banks not

members of the Federal Reserve System, December 30, 1939

Banks grouped according to amount of deposits..................................... 138

121. Averages per bank of assets and liabilities of operating insured

commercial banks not members of the Federal Reserve System,

December 30, 1939

Banks grouped according to amount of deposits.................................... 140

122. Percentage distribution of assets and liabilities of operating insured

commercial banks not members of the Federal Reserve System,

December 30, 1939

Banks grouped according to amount of deposits..................................... 142

C a p it a l in v e s t m e n t of t h e R e c o n s t r u c t io n F in a n c e C o r p o r a t io n :

123. Number of insured banks with Reconstruction Finance Corporation

capital investment, December 31, 1934-1939

Banks grouped according to Federal Reserve membership and by

type of bank and State..................................................................................... 144

124. Capital investment of the Reconstruction Finance Corporation in

banks members of the Federal Reserve System, by State, December

31, 1934-1939......................................................................................................... 146

125. Capital investment of the Reconstruction Finance Corporation in

operating insured banks not members of the Federal Reserve

System, 1934-1939, and changes during 1939

Banks grouped by type and State................................................................ 148

E x a m i n e r s ' a n a l y s is of in s u r e d c o m m e r c ia l b a n k s :

126. Examiners' analysis of capital and liabilities of insured commercial

banks examined in 1939

Banks grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of deposits.... 150

127. Net sound capital ratios of insured commercial banks examined in

1939

Banks grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of deposits.... 152

128. Examiners' analysis of capital and liabilities of insured commercial

banks examined in 1939

Banks grouped by F D IC district and State............................................. 154

LIST OF TABLES ix

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X FEDERAL DEPOSIT INSURANCE CORPORATION

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E x a m in e r s ’ a n a ly s i s o f in s u r e d c o m m e r c ia l b a n k s— Continued:

129. Net sound capital ratios of insured commercial banks examined in

1939

Banks grouped by F D IC district and State............................................. 156

130. Examiners’ classification of assets of insured commercial banks

examined in 1939

Banks grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of deposits.... 158

131. Asset ratios of insured commercial banks examined in 1939

Banks grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of deposits.... 162

132. Examiners’ classification of assets of insured commercial banks

examined in 1939

Banks grouped by F D IC district and State............................................ 166

133. Asset ratios of insured commercial banks examined in 1939

Banks grouped by F D IC district and State............................................ 170

134. Distribution of insured commercial banks examined in 1939 according to net sound capital ratio

Banks grouped by fixed and substandard assets ratio, rate of average

net earnings, and amount of deposits......................................................... 174

135. Distribution of deposits of insured commercial banks examined in

1939 according to net sound capital ratio

Banks grouped by fixed and substandard assets ratio, rate of average

net earnings, and amount of deposits......................................................... 175

E x a m i n e r s ’ a n a l y s is o f in s u r e d c o m m e r c ia l b a n k s n o t m e m b e r s of

t h e F e d e r a l R e s e r v e Sy s t e m :

136. Net sound capital ratios of insured commercial banks not members

of the Federal Reserve System, examinations 1933-1939

Banks grouped according to amount of deposits..................................... 176

137. Total asset ratios of insured commercial banks not members of the

Federal Reserve System, examinations 1933-1939

Banks grouped according to amount of deposits..................................... 177

138. Loan ratios of insured commercial banks not members of the Federal

Reserve System, examinations 1934-1939

Banks grouped according to amount of deposits..................................... 178

139. Asset ratios of insured commercial banks not members of the

Federal Reserve System examined in 1939

Banks grouped according to amount of deposits..................................... 179

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 :

140. Earnings, expenses, and dividends of insured commercial banks,

1935-1939 180

141. Earnings, expenses, and dividends of insured commercial banks,

1939

B y class of bank............................................................................................... 182

142. Distribution of insured commercial banks according to rate of net

earnings, 1939

Banks grouped by amount of deposits, population of center in which

located, and number of commercial banking offices in center in which

located................................................................................................................... 184

143. Distribution of insured commercial banks according to rate of net

profits, 1939

Banks grouped by amount of deposits, population of center in which

located, and number of commercial banking offices in center in which

located................................................................................................................... 185

144. Distribution of insured commercial banks according to rate of net

earnings and by rate of net profits, 1939................................................... 186

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Earnings of insured commercial banks— Continued:

145. Distribution of insured commercial banks according to rate of net

earnings and by rate of income on loans and ratio of loans to total

assets, 1939............................................................................................................ 187

146. Distribution of insured commercial banks according to rate of interest paid on time and savings deposits, 1939

Banks grouped by rate of net earnings, rate of income on loans, and

ratio of loans to total assets........................................................................... 188

147. Distribution of insured commercial banks according to rate of interest paid on time and savings deposits, 1939

Banks grouped by ratio of time and savings deposits to total deposits,

amount of deposits, and population of center in which located........... 189

Earnings of insured banks not members of the Federal Reserve

System:

148. Earnings, expenses, and disposition of profits of insured commercial

banks not members of the Federal Reserve System, 1935-1939......... 190

149. Earnings, expenses, and disposition of profits of insured commercial

banks not members of the Federal Reserve System, 1939

Banks grouped according to amount of deposits..................................... 192

150. Averages per bank of earnings, expenses, and disposition of profits

of insured commercial banks not members of the Federal Reserve

System, 1939

Banks grouped according to amount of deposits..................................... 194

151. Ratios of earnings, expenses, and disposition of profits of insured

commercial banks not members of the Federal Reserve System, 1939

Banks grouped according to amount of deposits..................................... 196

152. Ratios of earnings, expenses, and disposition of profits of insured

commercial banks not members of the Federal Reserve System, 1939

Banks grouped according to population of center in which located. .. 198

153. Ratios of earnings, expenses, and disposition of profits of insured

commercial banks not members of the Federal Reserve System, 1939

Banks grouped according to rate of net earnings................................... 200

154. Ratios of earnings, expenses, and disposition of profits of insured

commercial banks not members of the Federal Reserve System, 1939

Banks grouped according to rate of interest paid on time and savings

deposits................................................................................................................ 202

155. Earnings, expenses, and disposition of profits of insured mutual

savings banks, 1935-1939................................................................................. 204

Suspensions, receiverships, and mergers:

156. Number and deposits of banks which suspended operations, 1934-

1939

Grouped according to class of bank and by year, amount of deposits,

and State............................................................................................................. 206

157. Number and deposits of and disbursements to insured banks

merged with the financial aid of the Federal Deposit Insurance

Corporation, 1935-1939

Grouped according to class of bank and by year, amount of deposits,

and State............................................................................................................. 208

158. Number and deposits of insured banks placed in receivership or

merged with the financial aid of the Federal Deposit Insurance

Corporation, 1934-1939

Grouped according to class of bank and by year, amount of deposits,

and State............................................................................................................. 210

159. Number and deposits of banks which suspended operations, 1939

Grouped according to class of bank and by amount of deposits and

State..................................................................................................................... 212

160. Number and deposits of and disbursements to insured banks

merged with the financial aid of the Federal Deposit Insurance

Corporation, 1939

Grouped according to class of bank and by amount of deposits and

State..................................................................................................................... 213

LIST OF TABLES xi

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xii FEDERAL DEPOSIT INSURANCE CORPORATION

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S u sp e n sio n s, r e c e iv e r s h ip s , a n d m e r g e r s— Continued:

161. Number and deposits of insured banks placed in receivership or

merged with the financial aid of the Federal Deposit Insurance

Corporation, 1939

Grouped according to class of bank and by amount of deposits and

State...................................................................................................................... 214

162. Accounts and deposits of and disbursements to insured banks

merged with the financial aid of the Federal Deposit Insurance

Corporation, 1935-1939..................................................................................... 216

163. Assets purchased by the Federal Deposit Insurance Corporation to

facilitate completion of liquidation of insured banks in receivership,

1939

A s shown by books of F D IC , December 31, 1939.................................. 218

164. List of insured banks placed in receivership, 1939................................ 219

165. Assets of insured banks placed in receivership, 1934-1939

As shown by books of bank at date of suspension............... .................. 220

166. Liabilities of insured banks placed in receivership, 1934-1939

A s shown by books of bank at date of suspension.................................. 222

167. Deposits of insured banks placed in receivership, 1934-1939

A s shown by books of F D IC , December 31, 1939.................................. 224

168. Payments to depositors of insured banks placed in receivership,

1934-1939

A s shown by books of F D IC , December 31, 1939.................................. 226

A c t io n s b y t h e C o r p o r a t io n o n a p p l ic a t io n s f r o m b a n k s :

169. Actions by the Federal Deposit Insurance Corporation upon applications from banks not members of the Federal Reserve System for

admission to insurance, approval of establishment of branches, and

approval of change of location of banking offices, August 23, 1935,

to December 31, 1939........................................................................................ 228

170. Actions by the Federal Deposit Insurance Corporation on applications regarding capital and other financial adjustments, August 23,

1935, to December 31, 1939........................................................................... 230

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Federal Reserve Bank of St. Louis
INTRODUCTION AND SUMMARY

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Federal Reserve Bank of St. Louis
I n t r o d u c t io n a n d S u m m a r y

The close of 1939 marked the completion of the sixth year of Federal 

insurance of deposits. Conditions during the six-year period were 

conducive to the improvement of the condition of the banks. The 

period on the whole was one of business recovery, and, with the 

existence of deposit insurance, such relapses as occurred did not 

threaten the banks. The volume of national income increased. A 

heavy influx of gold gave the banking system huge excess reserves 

and bond prices reached record high levels. Bank deposits increased 

to the highest levels ever recorded.

The influence of these forces upon the banks has been clearly 

visible. The amount of assets increased by more than 50 percent. 

Free from pressure to liquidate, banks were able to enjoy the benefits 

of an increase in asset values produced by general business recovery. 

Improved business conditions also improved the position of assets 

which had previously appeared to be unduly risky.

In addition, the condition of the banking system has been strengthened by the rehabilitation program carried out by the Corporation, 

the Reconstruction Finance Corporation, the banks, and other 

interested agencies. This program was aimed at strengthening or 

eliminating those banks most susceptible to any general or local 

deterioration. Many banks were given support by the Reconstruction Finance Corporation through purchase of preferred capital to 

afford them a longer time in which to build up private capital. Substantial amounts of earnings and profits were used to restore capital 

accounts which had been impaired or weakened by accumulation of 

losses. In many cases advantage was taken of favorable asset prices 

to liquidate, without loss to depositors or to the Corporation, banks 

which had no prospect of further successful operation. In other 

cases the pooling of financial resources through merger was sufficient 

to correct a weakness. There were a number of situations, however, 

carried over from the 1933 crisis, which had not justified the appraisals 

of the licensing authorities but had deteriorated further, with the 

result that the Corporation was called upon to discharge its insurance 

liability. These situations were largely localized in certain regions.

Improvement in the condition of banks is reflected in the improvement in their capital and asset position. On the average the amount 

of net sound capital was higher and of substandard assets lower in 

relation to the appraised value of all assets at the close than at the

3

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

beginning of the period. By the close of 1939 the number of banks 

in weak condition had been reduced to fewer than one-tenth of the 

number of such banks in operation six years earlier.

The banking system, however, is not free from weaknesses and 

potential hazards. Examinations of insured banks in 1939 revealed 

that 10 banks had no capital at all, and that 75 additional banks had 

net sound capital equal to less than 5 percent of the appraised value 

of assets. Most of these banks held substantial amounts of substandard assets. A number of other banks continued to show excessive amounts of substandard assets in relation to their net sound 

capital. The Corporation, in concert with other bank supervisory 

agencies, is seeking improvement in the condition of these banks. 

By the close of the year one of the ten banks with no capital had 

been closed and one merged. Programs of correction were proceeding 

in the case of the remaining eight banks.

The influence of these developments upon deposit insurance is 

reflected in the operations of the Corporation. During the six years 

of deposit insurance, the Corporation disbursed $140.7 million to 

protect approximately 870,000 depositors in 312 insured banks with 

$295 million of deposits. It is estimated that the Corporation will 

recover $104.6 million. The Corporation’s losses together with 

nonrecoverable insurance expenses will amount to $36.7 million, or 

12.4 percent of total deposits in the banks involved, while depositors' 

losses will amount to about 1 percent of total deposits. During 

the 70 years preceding deposit insurance, depositors' losses amounted 

to approximately 25 percent of deposits in the banks which suspended. 

During the six-year period the Corporation, after setting aside adequate reserves for estimated losses, accumulated a surplus of $163 

million giving it a combined capital and surplus of $453 million. 

The Corporation also has authority to issue debentures up to $975 

million giving it available resources and borrowing power of nearly 

$1.5 billion.

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

BOARD O r REVIEW

The Board oi Review considers recommendations submitted by the Division of 

Examination relative to applications from 

banks for insurance, retirement of capital, establishment of branches, and other 

similar proposals.

BOARD OF DIRECTORS

M EM BERS O r THE BO A R D

LEO T. CROWLEY, Chmn.; PHILLIPS LEE GOLDSBOROUGH 

PRESTON DELANO, Comptroller of the Currency

The Board of Directors is responsible for the performance of all 

duties and the exercise of all powers vested by law in the 

Corporation.

The Board of Directors has assigned certain functions to divisions 

for the performance of which the chiefs thereof are responsible 

to the Board.

SECRETARY

The Secretary is responsible for maintaining minutes of the 

meetings of the Board and other official records, and furnishing 

notice of matters acted on by the Board.

SPECIAL A SSISTAN TS TO THE BO ARD

Special Assistants to the Board are responsible for the handling 

of public relations and for the performance of various technical

LEGAL D IV IS IO N

The Legal Division acts in an advisory 

capacity in connection with all legal matters incident to the activities c 

of the Corporation.

DIVISION o r EXAMINATION

The Division of Examination is responsible 

for handling applications from banks for 

membership, capital retirement, branches, 

mergers, etc., and for examining insured 

banks and determining necessary supervisory actions.

WASHINGTON o rriC E 

REVIEW SECTION

The Review Section is responsible for reviewing all reports 

of examination relative to insured banks, or banks applying for insurance, and preparing recommendations relativo 

thereto.

COMMITTEE ON 

LIQUIDATIONS, LOANS, AND 

PURCHASE O r ASSETS

The Committee considers recommendations from the Division of Examination 

relative to loans to or purchase of assets 

from banks and recommendations from 

the Division of Liquidation relative to 

liquidation activities.

D IV ISIO N o r LIQU IDATION

The Division of Liquidation is responsible 

for paying depositors in closed insured 

banks, liquidating national banks and 

closed State banks for which the Corporation is appointed receiver, exercising general supervision over the liquidation of 

closed insured banks for which the Corporation is not receiver, and liquidating loans 

to or purchases of assets from insured banks 

to facilitate mergers.

LIQUIDATION

SECTION

The Liquidation Section supervises the liquidation of closed 

insured banks for which the 

Corporation is receiver and of 

loans to or purchases oi assets 

from banks.

D IS T R IC T O rriCES

The twelve District Offices, 

each under the supervision of 

a Supervising Examiner, are 

responsible for all bank examinations made by the Corporation and for carrying out supervisory policies determined 

in the Washington Office.

LEGAL SECTION

d i v i s i o n o r

LIQUIDATION

The Legal Section is 

responsible for handling all legal matters in connection 

with the activities of 

the Division of Liquidation.

D IV IS IO N o r riN A N C E 

AND A D M IN IST R A T IO N

The Division of Finance and Administration 

is responsible for the administration of all 

matters relating to personnel of the Corporation, the handling of receipts and disbursements, the accounting for and auditing of all financial operations, and the 

management of general business activities.

CLAIM S SECTION

The Claims Section is responsible for paying the claims of 

depositors of closed insured 

banks approved by the receivers thereof, and for maintaining records of claims paid.

PERSONNEL SECTION

The Personnel Section has 

charge of appointment, placement. classification, training 

and related personnel activities, is responsible for the administration of personnel laws 

and regulations, and performs 

general administrative planD IV ISIO N o r RESEARCH 

AND STATISTICS

The Division of Research and Statistics is 

responsible for the accumulation of bank 

statistics, the tabulation of periodic reports 

of condition and earnings from insured 

banks and the conduct of various research 

studies pertaining to banking.

riSCAL AND

ACCOUNTING

SECTION

The Fiscal and Accounting 

Section is responsible for 

collecting assessments from 

banks and other receipts, making disbursements and maintaining the general accounting records of the Corporation.

RECORDS SECTION

The Records Section is responsible for maintaining records 

of receivership activities of the 

Corporation and for making 

field audits thereof.

AUDIT SECTION

The Audit Section is responsible for making a continuous 

audit of the financial affairs 

of the Corporation.

SERVICE SECTION

The Service Section is responsible for the purchase of supplies. performance of duplicating operations, handling of 

mail, and maintaining files, 

guard, messenger, telephone 

and other similar services.

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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

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P r in c ip l e s a n d P o l ic ie s

The activities of the Corporation in administering Federal insurance 

of deposits and in exercising the supervisory functions entrusted to 

it by Congress are described in subsequent sections of Part One. 

In this section the objectives of deposit insurance and of bank supervision are discussed in the light of the Corporation's experience.

Deposit insurance. The purpose of the Federal deposit insurance 

system is threefold. First, it is intended to protect depositors in 

banks which fail by spreading over the whole system the losses which 

would otherwise be borne by depositors in particular banks. Second, 

it is intended to maintain depositors' confidence, to relieve banks 

from pressure to liquidate assets because of “runs,” to protect the 

whole economy against the consequences of such liquidation, and 

thereby to reduce losses. Third, it is intended to strengthen the 

banking system through more adequate supervision so as to reduce 

bank failures. Prevention or reduction of failures depends upon 

the competence and integrity of bankers themselves, the adequacy 

of methods of converting assets into cash during periods of pressure, 

and the effectiveness of bank supervision. To the extent to which 

failures do occur, the success of deposit insurance in absorbing losses 

and maintaining confidence will depend upon the insurance coverage 

provided and the adequacy of the Corporation's financial resources.

Insurance coverage. The amount of insurance coverage now 

provided is determined by the provision of law that the insurance 

in a closed bank shall not exceed $5,000 for one depositor in a single 

right or capacity. However, the Corporation may, where such 

action will reduce loss or risk to itself, make a loan to or purchase 

assets from a weak bank to facilitate its merger with another insured 

bank. Such action provides all depositors in the bank with full protection regardless of the amount of their deposits.

The Corporation has made use of its power to finance the merger 

of weak banks in those cases in which it has found the power effective 

in cleaning up hazardous situations while minimizing its losses. 

Both the cash outlay involved and the percentage of loss to the 

Corporation have been less in merger cases than in receivership 

cases. In the insured banks placed in receivership, losses of those 

depositors not fully protected by insurance will amount to approximately 3.5 percent of total deposits of the closed banks. In the 

banks merged with the aid of loans from or purchase of assets by 

the Corporation, no depositor has suffered loss.

9

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10 FEDERAL DEPOSIT INSURANCE CORPORATION

Adequate financial resources. It is essential that the Corporation should have an income sufficient to enable it to meet its losses 

averaged over a long period of time. In addition, it must have, 

either in its own right or available to it from other sources, cash 

resources adequate to permit it to discharge its obligations during 

any period when disbursements exceed income.

The experience of the Corporation to date does not constitute a 

basis for estimating either its future disbursements or its future 

losses. Like the past six years, the years immediately following 

earlier banking crises were marked by relatively few bank failures 

and relatively small losses to bank creditors, and gave no indication 

of either the timing or magnitude of the losses to be experienced in 

the years to follow. The losses which ultimately followed were 

sufficient to have wiped out a reserve accumulated from an assessment 

of one-twelfth of 1 percent per annum on total deposits of the banking 

system.

The present rate of assessment assumes that improvements in the 

structure and operation of the banking system and in standards of 

supervision will be successful in keeping losses substantially lower 

in the future than they have been in the past.

Development of supervisory standards and procedures. In

examining banks not members of the Federal Reserve System to 

determine their ability to qualify for insurance under the temporary 

funds, and in developing rehabilitation programs for some of these 

banks, the Corporation was impressed by the diversity of supervisory 

standards and procedures encountered in the various States and 

within the Federal supervisory establishments. Under these circumstances, equitable treatment of the banks insured by the Corporation, and maintenance of relatively uniform standards for banking operations throughout the country, were impossible. During 

its first year of operation the Corporation came to the conclusion 

that certain minimum supervisory powers over insured banks would 

have to be granted the Corporation if coordination and improvement 

of supervisory standards and policies were to be achieved and deposit 

insurance was not to constitute an unconscionable financial burden 

upon the banks and the Federal Treasury.1

Upon the Corporation's recommendation, Congress, in the Banking 

Act of 1935, granted to it certain supervisory powers including the 

following:2

1 Under the provisions of law governing the temporary deposit insurance funds the Corporation had 

power to examine banks. Under the original permanent plan, embodied in the Banking Act of 1933, the 

Corporation was given no specific supervisory powers over insured banks, except authority to issue such 

rules and regulations as were necessary in connection with the discharge of its obligations in case of bank 

failures. However, the law provided for the levying when necessary of an unlimited number of assessments of one-fourth of 1 percent. This provision of law was amended before it went into effect.

2 In the same Act the assessment was changed from practically no limit to an annual rate of onetwelfth of 1 percent.

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PRINCIPLES AND POLICIES 11

To examine and approve for admission to insurance banks 

which are not members of the Federal Reserve System;

To examine insured banks not members of the Federal 

Reserve System and to review examination reports of banks 

members of that system;

To terminate the insured status of any bank which continues to engage in unsafe or unsound practices, or in violations of law or regulations;

To approve or disapprove the assumption by any insured 

bank of the deposit liabilities of a noninsured bank, or the 

consolidation or merger of an insured bank with a noninsured 

bank;

To approve or disapprove the reduction or retirement of 

capital by insured banks not members of the Federal Reserve 

System;

To approve or disapprove the establishment or relocation 

of branches of insured banks not members of the Federal 

Reserve System;

To issue regulations regarding the payment of interest on 

deposits in insured banks not members of the Federal Reserve 

System;

To issue such other regulations as are necessary to carry 

out its functions;

To require such reports of condition from insured State 

banks not members of the Federal Reserve System as may 

be deemed necessary, and to have access to reports of 

condition made by insured banks to the Comptroller of the 

Currency or any Federal Reserve bank.

The Corporation assumed its supervisory functions following 

one of the severest tests to which supervisory principles had ever 

been subjected. It consistently endeavored, in the calmer days 

which followed the crisis, to formulate policies which recognize both 

the limitations and the possibilities of bank supervision. Cooperation among the supervisory agencies, both State and Federal, has 

been an essential part of this program.

As insurer of more than 13,000 banks, the Corporation has been 

in an advantageous position to take an active part in the development 

of improved standards of supervision. Participation of almost all 

of the commercial banks of the country in insurance has served as 

an effective means for the meeting of bank supervisors upon a common ground, and numerous conferences have been held with State 

and other Federal supervisory authorities. Substantial coordination

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

and clarification of supervisory policy have developed out of these 

conferences.

Adequate bank capital. One of the chief objectives of supervision is to assure the presence of an adequate amount of capital 

in the banking business. However much the interests of bank creditors may be protected by insurance, insolvency and suspension will 

still be a disrupting factor to business. Normal credit relationships 

are broken, assets come into the hands of unwilling holders, and costly 

reorganizations are necessitated. But even if suspensions do not 

occur, the operation of a large number of banks which are constantly 

or recurrently on the brink of insolvency because of thin capital 

margins cannot be satisfactory. Under such circumstances, bankers 

may abdicate their functions as suppliers of credit, especially in time 

of uncertainty, in order to avoid risk in an effort to preserve solvency 

and retain the profit opportunities of the banking business.

In 1939, the combined net sound capital of insured commercial 

banks was 10.6 percent of the appraised value of assets. Net sound 

capital includes capital owned by the Reconstruction Finance Corporation which is neither a permanent nor a proper substitute for 

private capital. If only private capital is considered, the ratio 

becomes 9.8 percent. But even this average figure does not tell 

the whole story. In 1939, 10 banks had no net sound capital, and 

75 more banks had net sound capital of less than 5 percent of the 

appraised value of assets. Total deposits of these 85 banks amounted 

to $358 million.

The present situation does not have its origin in the immediate 

past. The present low level of the capital ratio is the result of sharp 

declines in previous periods of rapid asset growth—notably 1896-1900 

and 1915-1919—when bankers failed to expand their capital to a 

degree corresponding to the expansion in their assets. The former 

relationships between capital and assets were not restored in subsequent periods. From 1919 to 1939 the ratio of book capital to 

book assets for all reporting incorporated commercial banks varied 

within the range of 11 percent to 16 percent. This experience provides us with no reason to believe that, in the absence of the adoption 

of definite supervisory standards, present unsatisfactory capital 

positions will be corrected or will not deteriorate even further.

The Corporation believes that every bank should have a minimum 

net sound capital equal to at least 10 percent of the appraised value 

of its assets. Examinations in 1939 revealed that 2,884 insured banks 

had net sound capital below this minimum. About $600 million of 

additional capital is needed to bring these banks up to the minimum. 

Total deposits in these banks amounted to $30 billion.

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PRINCIPLES AND POLICIES 13

The capital structure of a bank may be regarded as inadequate, 

however, even though it meets this minimum standard, if other 

adverse circumstances exist. In considering the adequacy of the 

capital accounts of any particular bank the following important 

factors are taken into consideration:

(a) The quality of the assets, with particular reference to the volume 

of fixed assets and assets of substandard quality;

(b) The management;

(c) Possible liabilities arising out of fiduciary operations;

(d) Local economic conditions.

It is estimated that in addition to the 2,884 banks mentioned above, 

approximately 3,000 banks have a capital below the reasonable 

minimum when considered in the light of the nature and quality of 

the assets held and other qualifying factors.

Regardless of the adequacy of the total capital accounts, the Corporation believes that such accounts should consist in large measure 

of a basic amount of capital stock which, taken in conjunction with 

legal requirements for the accumulation of surplus, gives reasonable 

assurance of the maintenance of adequate net sound capital.

Applicants for admission to insurance, particularly newly organized 

banks, are expected to provide adequate capital in relation to present 

or prospective asset volume and, in any case, not less than $25,000 

capital stock and $5,000 surplus. As of the close of 1939, approximately 1,500 small insured banks were deficient with respect to the 

latter standard.

Ultimate conformance with these capital standards by all insured 

banks is a long-range objective of the Corporation.

Quality of assets. The Corporation does not believe it desirable, 

in establishing supervisory rules and principles, to differentiate 

among types of assets. Differentiation by supervisory authorities 

among types of assets is undesirable from the standpoint of flexibility 

of operation of the banking system. To give preference to a particular type of asset by means of supervisory rules would encourage 

banks to go into that type as against some other type of asset. In 

the eyes of the Corporation a good loan is as good as cash.

It is not the intention of the Corporation to invade the field of 

bank management and substitute its judgment for that of bankers 

in the conduct of their business. The best adaptation of the banking 

system to the credit demands of the country can be achieved only 

if bankers are allowed to choose freely among industries, maturities, 

security, and other characteristics in investing their funds. Even

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

with respect to the amount of risk which they assume, banks must 

be allowed wide latitude if they are to continue to finance a dynamic 

business system. So long as the capital ratios of banks remain at 

low levels, however, the supervisory authorities must attempt to 

place certain limits to the risks assumed by banks, and insist that 

banks which do accumulate low-grade assets value them in accordance 

with sound appraisals and charge losses off promptly.

The role of bank supervision. In the supervisory relationship 

between the Government and the banks, banks have not only duties, 

but also rights; supervising authorities have not only powers, but 

also responsibilities. This does not mean that supervision should 

be confined to requiring banks to do only what they wish to do. 

That banks shall be restrained from operating in a manner contrary 

to the public interest is the essence of supervision. However, banks 

have a right to advance knowledge of the standards to which they 

must adhere and to assurance that these standards are applicable to all 

banks impartially. Supervising authorities have a responsibility to 

formulate standards as precise and objective as possible, and to 

apply such standards impartially. Recognition of these rights and 

responsibilities facilitates the achievement of supervisory objectives 

and the effective operation of the banks. Only by the application 

of general standards can the treatment of each bank be adjusted to 

the condition and needs of the whole banking system. Only so far 

as standards are objectively stated is it possible to have effective 

cooperation among the State and Federal agencies engaged in bank 

supervision.

The formulation of rules, regulations, and standards, and the 

clarification of the limits of supervisory authority, are far more 

important to development of effective bank supervision than concern 

with the structure of the bank supervisory establishment. The 

Corporation's supervisory standards and objectives have been made 

more effective than would otherwise be the case because they were 

developed jointly with and by the State supervisory authorities. 

These joint standards have formed the basis for action by many of 

the State authorities whose powers in some circumstances are more 

flexible and effective than those of the Corporation.

While supervision of banks is properly an important Government 

function, no greater mistake could be made than to base public 

policy on an exaggerated conception of the power of supervision. 

While supervision should not intensify economic instability, it cannot 

prevent it. Supervision cannot provide banks with liquidity; it 

cannot prevent banks from seeking liquidity; it cannot insulate the 

business system from the effects of the effort to secure liquidity. 

Supervision cannot cause banks to make loans and buy securities.

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OPERATING RESULTS OF DEPOSIT INSURANCE 15

Supervision cannot prevent “error” in the investment process. The 

efficacy of our supervisory policies must be appraised in the light 

of the ends to which supervision can properly be directed—the uninterrupted operation of banks, able and willing to bear the risks 

inherent in the provision of credit, and managed by responsible 

persons whose appraisal of these risks is impartial and deliberate.

O p e r a t i n g R e s u l t s o f D e p o s it I n s u r a n c e

Insured banks suspended or merged. From the beginning of 

insurance of bank deposits on January 1, 1934, to December 31, 1939, 

the Federal Deposit Insurance Corporation extended financial aid 

to protect approximately 870,000 depositors in 312 banks.1 Total 

deposits in these banks amounted to $294.7 million, of which 97 

percent were made available promptly without loss to depositors. 

Less than one-fourth of 1 percent of the depositors held accounts in 

excess of $5,000 which were not fully protected by insurance, offset, 

preferment, pledge of security, or terms of the merger agreements. 

By December 31, 1939, the Corporation had made disbursements 

of $140.7 million as a consequence of the financial difficulties of these 

banks. Losses and nonrecoverable insurance expenses of the Corporation are estimated at $36.7 million, or 12.4 percent of the total 

deposits.2 Losses to depositors are estimated at $2.7 million, or less 

than 1 percent of total deposits in the 312 banks. The figures are 

summarized in Table 1.

During the year 1939, the Corporation disbursed funds to protect 

depositors in 60 insured banks which were experiencing financial 

difficulties. The Corporation paid the insured claims in 32 banks 

placed in receivership and extended loans to 28 banks in order to 

facilitate their merger with other banks.3 Total disbursements for 

these purposes amounted to $66.6 million, exclusive of expenses, 

almost equalling the aggregate disbursement of the preceding five 

years. Deposits in the 60 banks amounted to $157.8 million, 

or slightly more than the deposits in the 252 banks to which or for 

which disbursements were made during the preceding five years. 

The name and location of the insured banks placed in receivership 

or merged with the financial aid of the Corporation in 1939, together 

with data respecting their assets and liabilities and the Corporation’s 

disbursements, are presented in Tables 162 to 168, pages 216 to 227.

1 Three other insured banks suspended operations but were reorganized and reopened or taken 

over by other insured banks without the financial aid of the Corporation.

2 Losses are estimated at $36.1 million and nonrecoverable insurance expenses— expenses incurred 

in paying insured deposits— amounted to $0.6 million.

* The terms “ merge” and “ merger” are used throughout to include cases of purchase of assets and 

assumption of liabilities as well as absorptions and mergers.

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16 FEDERAL DEPOSIT INSURANCE CORPORATION

The relatively high protection given depositors has reflected in 

part the high protection in banks placed in receivership (90 percent 

of total deposits) and in large part use of the Corporation's power 

to extend loans or purchase assets to facilitate mergers when such 

action will avert or reduce risk of loss to the Corporation. The use 

of the latter power provides 100 percent protection to depositors of 

the banks involved. A comparison of the use of the two methods in 

dealing with insolvent or hazardous insured banks during the past 

six years is presented in Table 2.

T ab le 1. PROTECTION AFFORDED BY THE CORPORATION IN BANKS

in F in a n c ia l D i f f i c u l t i e s , 1934-1939

Total

1934-1939 1939

Number of banks................................................................................................

Depositors:

Total n u m b e r...............................................................................................

312

877,223

861,272 

2,719 

1,569

1,150

13,232 

2,278

10,95 U

$294,654,000

286.250.000

8.404.000

7.322.000

1.031.000

51,000

140.706.000

2.750.000 

36,723,000

60

393,160

392,302

832

832

Fully protected1..........................................................................................

Partially protected1....................................................................................

With excess accounts.................................................................................

With both restricted and unrestricted accounts........................................

Unprotected ............................................................................................... 26

With restricted or otherwise uninsured accounts.....................................

With unclaimed accounts— claims barred2.............................................

Deposits:

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

26

$157,772,000

154,452,000

3.320.000

3.320.000

Protected1.....................................................................................................

Unprotected.................................................................................................

Excess ......................................................................................................

Restricted or otherwise uninsured............................................................

Unclaimed2 ................................................................................................

Total disbursements by FD IC 3....................................................................... 66.568.000 

1,675,000

17.359.000

Estimated loss to depositors............................................................................

Estimated loss to FDIC4...................................................................................

1 Protected by insurance, security, offsetting claims, priority over other depositors, or through 

advances by the Corporation to facilitate mergers.

2 For banks closed in 1934-1939, deposits in 27 banks completely liquidated and in 89 banks in 

which the 18-month period of insurance protection had ended; for those closed in 1939, deposits amounting 

to $167 in 1 bank completely liquidated.

3 Deposits paid by FDIC in receivership banks and principal of loans and purchase price of assets 

in merged banks.

4 Includes nonrecoverable insurance expenses incurred in paying insured claims, amounting to 

$570,000 for 1934-1939 and to $184,000 for 1939.

Payment of deposits in banks placed in receivership. From 

the beginning of deposit insurance through 1939, the Corporation 

made payments to depositors in 207 banks placed in receivership 

with total deposits of $80.1 million. Only one-half of 1 percent of 

the 300,000 depositors in these banks had accounts in excess of $5,000 

which were not fully protected. Their excess deposits constituted 

9 percent of total deposits while other deposits not eligible for insurance amounted to 1 percent of total deposits. The remaining 90 

percent of the deposits were made available promptly to depositors. 

Figures regarding the payment of deposits in insured banks in receivership are given in Table 3.

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OPERATING RESULTS OF DEPOSIT INSURANCE 17

Table 2. DISBURSEMENTS OF THE CORPORATION IN CONNECTION WITH BANKS IN

F in a n c i a l D i f f i c u l t i e s , 1934-1939

Number of banks Amount of disbursement 

(in thousands of dollars)

Placed in 

receivership Merged

Insured

deposits

paid1

Loans and 

assets 

purchased

T otal........................................ 207 105 60,981 79,725

1939...................................... 32 28 24,994 41,574

1938...................................... 50 24 9,034 21,386

1937...................................... 50 25 12,019 7,116

1936...................................... 42 27 8,043 6,784

1935...................................... 24 1 5,956 2,865

1934 .................................... 9 935

1 In addition, $2,794,000 of insured claims had not been presented or proved.

Detailed figures for 1939— See Table 162, page 216, and Table 168, page 226.

During the year 1939, 32 insured banks with deposits of $32.6 

million were placed in receivership. As in the case of the banks 

closed during the entire six-year period approximately 90 percent 

of the deposits in the banks placed in receivership in 1939 were fully 

protected by insurance, offsetting claims, security, or priority of 

claims over other creditors. More than 99 percent of the depositors 

were fully protected.

Table 3. S t a t u s a s o f D e c e m b e r 31, 1939, o f D e p o s i t s o f

I n s u r e d B a n k s P l a c e d i n R e c e i v e r s h i p

(In thousands of dollars)

Total

Paid by 

Dec. 31, 

19391

Unpaid on 

Dec. 31, 

1939

T otal—32 banks placed in receivership, 1 9 3 9 .... 32,630 26,701 5,929

Insured2.............................................................................. 27,550 24,994 2,556

Secured, preferred, and subject to offset3................. 1,760 1,679 81

N ot eligible for insurance4............................................. 3,320 28 3,292

Unclaimed5........................................................................

T otal— 175 banks placed in receivership, 1934-1938 47,478 44,983 2,495

Insured2.............................................................................. 36,225 35,987 238

Secured, preferred, and subject to offset3................. 6,169 6,050 119

Not eligible for insurance6............................................. 5,033 2,946 2,087

Unclaimed5........................................................................ 51 51

1 Payments made both by FDIC and by receivers.

2 Deposits paid or to be paid by FD IC.

3 Deposits subject to offset, preferred deposits paid by the receiver, and those portions of secured 

deposits met or to be met by sale of security.

4 Deposits in excess of maximum insurance coverage.

5 For banks closed in 1939, deposits amounting to $167 in 1 bank completely liquidated; for those 

closed in 1934-1938, deposits in 26 banks completely liquidated, and in 89 banks in which the 18-month 

period of insurance protection had ended.

6 Deposits in excess of maximum insurance coverage amounting to $4,002,000; restricted or deferred deposits and deposits in 1 noninsured bank made subsequent to termination of insured status 

amounting to $1,031,000.

Detailed figures— See Tables 167-68, pages 224-27.

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18 FEDERAL DEPOSIT INSURANCE CORPORATION

The Corporation starts payments to depositors as soon after the 

closing of an insured bank as legal arrangements can be made for the 

subrogation of depositors' claims to the Corporation and as soon as 

the records for payments can be completed. In most cases the Corporation's representatives are sent in immediately following appointment of the receiver to verify the records and make arrangements to 

pay off insured depositors. As soon as these arrangements have 

been completed the Corporation notifies depositors by mail, posters, 

and advertisements of its readiness to pay all insured deposits. Thereafter payments are made as rapidly as depositors present and prove 

their claims. The procedure for presenting and proving claims has 

been so simplified that it now imposes no greater burden upon depositors than is ordinarily involved in the closing of a deposit account 

from an operating bank.

Insured deposits have been made available immediately after legal 

requirements are satisfied. In certain cases this has resulted in 

making the insured deposits available within from 4 to 10 days after 

the actual closing of the bank. Ordinarily, delay beyond 10 days 

has been due to obstructive legal requirements peculiar to the State 

where the bank is located.1 By the close of 1939, the Corporation 

had paid in full claims of insured depositors covering 91 percent of 

the amount of insured deposits in the 32 banks placed in receivership 

during that year. In contrast, the receivers of these banks had 

paid only 2 percent of the estimated recoverable amount of claims 

not eligible for insurance.

The Banking Act of 1935 provides that if any depositor who has 

been given at least three months' notice shall fail to claim his insured 

deposit within 18 months after the appointment of the receiver for 

the closed bank, the rights of such depositor against the Corporation 

shall be barred. Completion of liquidation, which may take less 

than 18 months, also bars insured depositors' claims against the 

Corporation by preventing subrogation as required by law. Although the Corporation has made every attempt to trace all depositors 

whose names appear on the books of closed insured banks, at the end 

of the year 10,954 depositors, with accounts aggregating $51,000, 

were barred by law from further insurance protection on these claims. 

Most of the unclaimed accounts were small, many of them amounting 

to less than $1.00. Depositors in insured banks placed in receivership 

prior to the Banking Act of 1935 can continue to claim protection 

from the Corporation until completion of liquidation.

Loans to facilitate mergers. Between August 23, 1935, and 

the close of 1939,105 insolvent or hazardous banks with about 575,000

1 Dates of suspension and of commencing payment of insured claims in banks placed in receivership 

during 1939 are given in Table 164, page 219.

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Federal Reserve Bank of St. Louis
depositors and total deposits of $214.5 million were absorbed by other 

insured banks with the financial aid of the Corporation. The total 

amount disbursed by the Corporation to the 105 banks was $79.7 

million.

During 1939, disbursements on loans and purchases of assets 

amounting to $41.6 million were made to 28 insolvent or hazardous 

banks with deposits of approximately $125.1 million to facilitate 

their merger or consolidation. Of the loans disbursed during the 

year, 9 were approved in 1938 and the remaining 19 in 1939. Loans 

to four other banks were also approved, but had not been disbursed 

by the close of the year. Total loans approved in 1939, including 

those disbursed as well as those not disbursed, amounted to $39.5 

million.

In making loans the Corporation takes as collateral all of the assets 

which are not taken by the absorbing bank.1 The amount of the 

loan is always the amount necessary to make up the deficiency between the assets taken over and the liabilities assumed by the absorbing bank. Under the terms of the note and the contract with the 

borrowing bank, the Corporation is given absolute control of the 

liquidation and disposition of the collateral. If the collections are 

sufficient to reimburse the Corporation for the principal of the loan 

plus expenses and interest, the remaining cash and unliquidated 

assets are turned over to the stockholders of the bank which required 

aid from the Corporation.

Protection of deposits in operating and closed banks. Approximately 97 percent of the deposits in closed insured banks were 

protected by insurance, offsetting claims, pledge of assets, priority 

over other depositors, or through advances by the Corporation to 

facilitate mergers. The percent of deposits protected in closed banks 

has been greater than the percent of deposits which the Corporation's 

records indicate is insured in operating insured banks of comparable 

size. A comparison is given in Table 4. The higher protection of 

deposits in closed banks reflects in large part the use of the Corporation's loan power to eliminate insolvent or hazardous banks in which 

100 percent protection is given, and in part protection given by 

legal preferment, pledge of security, and offsetting claims, to deposits 

in banks placed in receivership. In banks placed in receivership 90 

percent of deposits were protected, 80 percent by insurance and 10 

percent by the allowance of offsetting claims, by pledge of specific 

assets, or through priority of claims over other depositors.

Repayments to the Corporation. The Corporation follows a 

policy of setting up, as soon as a disbursement is made, a reserve to

OPERATING RESULTS OF DEPOSIT INSURANCE 19

1 In a limited number of cases assets were purchased, rather than taken as collateral to a loan, in 

order to expedite subsequent transfer of title.

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20 FEDERAL DEPOSIT INSURANCE CORPORATION

cover the loss which the Corporation's appraisals indicate will result 

from each case. This reserve is deducted from the surplus and appropriate asset accounts in presenting the statement of condition of 

the Corporation. Periodically, the progress of the liquidation of 

banks in receivership is reviewed, the assets purchased and held as 

collateral to secure loans made to banks to facilitate mergers are 

reappraised, and reserves are revised in accordance with the information obtained. By the end of 1939, $42.9 million had been repaid 

to the Corporation. This is less than one-half of the amount which 

it expects to recover on the $140.7 million of disbursements made 

during the past six years in protecting depositors and assets.

T ab le 4 . PERCENT OF DEPOSITS PROTECTED IN CLOSED INSURED BANKS

a n d I n s u r e d i n O p e r a t in g I n s u r e d B a n k s

BANKS GROUPED BY AMOUNT OF DEPOSITS

Deposits 

protected 

in all closed 

banks1

Deposits 

protected 

in banks 

placed in 

receivership2

Deposits 

insured in 

operating 

banks3

All banks.............................................................................. 97.1% 89.5% 45.9%

Banks with deposits of—

$100,000 or less................................................................ 97.0 96.1 95.2

$100,000 to $250,000...................................................... 96.3 95.1 91.5

$250,000 to $500,000...................................................... 96.1 94.1 87.8

$500,000 to $1,000,000................................................... 92.5 85.8 84.0

$1,000,000 to $2,000,000............................................... 97.7 93.3 79.9

$2,000,000 to $5,000,000............................................... 96.5 84.6 74.2

$5,000,000 to $10,000,000............................................. 100.0 66.8

$10,000,000 to $50,000,000........................................... 97.5 86.4 51.1

More than $50,000,000 ............................................ 28.2

1 Deposits protected in banks placed in receivership and all deposits in banks merged with financial 

aid of the Corporation, 1934-1939.

2 Protected by insurance, security, offsetting claims, priority over claims of other depositors, 1934- 

1939.

3 Estimated to be covered by insurance on September 21, 1938.

Recoveries from banks in receivership. By the close of 1939,

the Corporation had received approximately $21.4 million, or 35 percent of the $61.0 million of depositors’ claims to which it had been 

subrogated in the 207 insured banks in receivership. The Corporation 

expects to receive about 33 percent additional returns on these claims.

Of the 207 insured banks placed in receivership from 1934 to 1939,

27 had been completely liquidated by the end of that period, 9 during 

1939. Of the 27 banks, 15 had made full repayment to the Corporation on its subrogated claims, 5 with interest. Dividends of from 

75 to 99 percent had been paid by 5 banks, while the remaining 7 banks 

paid dividends of less than 75 percent, the lowest being 7 percent. 

Of the 180 banks whose liquidation had not been completed by the 

close of 1939, 9 had made 100 percent repayment, 1 with interest.

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OPERATING RESULTS OF DEPOSIT INSURANCE 21

No payments had been received from 28 banks, 21 of which closed in 

1939. The distribution of insured banks placed in receivership 

according to the percent of repayment made to the Corporation on its 

subrogated claims is shown in Table 5.

Table 5. DISTRIBUTION OF INSURED BANKS CLOSED BECAUSE OF

F in a n c i a l D i f f i c u l t i e s A c c o r d in g t o P e r c e n t o f R e p a y m e n t s t o t h e

C o r p o r a t i o n a s o f D e c e m b e r 31, 1939

Number of banks placed 

in receivership

Number of banks 

merged

Liquidation

closed

Liquidation 

not closed

Liquidation 

of loan 

completed

Liquidation 

of loan 

not completed

All banks......................................................... 27 180 12 93

Banks making repayments of—

100 percent................................................... 15 9 11

75 to 99 percent..........................................

50 to 74 percent..........................................

5

4

42

55

1

tOH* © 00

25 to 49 percent.......................................... 1 25 26

1 to 24 percent............................................ 2 21 28

0 percent ..................................................... 28 1

NOTE: In banks placed in receivership, repayments are percentages of subrogated claims paid to 

the Corporation as dividends; in banks merged, repayments are percentages of principal of loan and purchase price of assets collected, after deducting expenses incident to the transaction.

During 1939, for the first time the Corporation exercised its power 

to purchase assets from the receivers of closed insured banks in order 

to facilitate the termination of these receiverships. Assets amounting 

to $112,000 were purchased from the liquidators of five banks. Detailed figures are shown in Table 163, page 218.

Receivership activities of the Corporation. At the close of 

1939, the Corporation was acting as receiver for 61 of the 180 insured 

banks in receivership. It was receiver for 12 national banks, as prescribed by law, with deposits aggregating $10.7 million and for 49 

State banks with deposits aggregating $11.3 million. The Corporation, as principal creditor through its subrogation to insured depositors' 

claims, attempts to maintain close contact with the receivers of the 

remaining 119 State banks and to assist as much as possible in promoting efficient liquidation of these banks.

Recoveries on loans and assets purchased. By December 31, 

1939, the Corporation had recovered $21.5 million, or 27 percent of the 

$79.7 million which it had advanced as loans to, or in the purchase of 

assets from, insured banks to facilitate their merger with other insured 

banks. The Corporation expects to receive about 54 percent additional returns on these claims.

The assets which were acquired by purchase or accepted as collateral for loans were unacceptable to the absorbing bank because of

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

their poor quality. Of the 105 transactions of this type, 12 were 

closed by December 31, 1939. In 11 of these cases all expenses incurred by the Corporation were repaid and collections were sufficient 

to cover the principal of the loan and to pay interest. In the remaining case, collections after deduction of expenses amounted to 96 percent 

of the principal of the loan.

Some collections were received in each of the remaining 93 cases, 

although in the case of one loan made near the close of the year collections were not yet sufficient to cover expenses. The distribution of 

banks according to the percent of repayment to the Corporation is 

shown in Table 5.

S u p e r v is o r y A c t iv it ie s o f t h e C o r p o r a t io n

Admissions to insurance. On January 1, 1934, when Federal 

insurance of deposits became effective, 13,201 banks were insured 

or approved for insurance under the temporary insurance plan. On 

December 31, 1939, the number of insured banks was 13,589, a net 

increase over the six years of 388 banks. On the later date 93 percent 

of commercial banks and 9 percent of mutual savings banks were 

insured with the Corporation. Figures are shown in Table 6.

Table 6 . N u m b e r OF INSURED BANKS,

D e c e m b e r 31, 1939, A n d J a n u a r y 1, 1934

Number of insured banks Percent of licensed 

banks insured

Dec. 31, 

1939

Jan. 1, 

1934 Change Dec. 31, 

1939

Jan. 1, 

1934

T otal................................................................... 13,589 13,201 + 388 90% 87%

Commercial banks........................................ 13,538 12,987 + 551 93 89

Members F. R. System:

N ational..................................................... 5,187 5,153 + 34 100 100

State ............................................................ 1,175 856 + 319 100 100

Not members F. R. System....................... 7,176 6,978 + 198 88 82

Mutual savings banks................................. 51 214 -163 9 37

The increase in the number of insured banks over the six-year 

period reflects chiefly the admission to insurance of banks which were 

operating under restrictions or in conservatorship when deposit insurance went into effect on January 1, 1934, but were subsequently 

licensed. A total of 1,927 banks were admitted to insurance during 

the six years, and the insured status of 1,539 banks was terminated.1

1 Successions to other insured banks and other cases of terminations directly offset by admissions 

are excluded from these figures. For a classification of the banks admitted to insurance and terminating 

insurance, and the manner of terminating insurance, during each year of deposit insurance, see Table 102, 

pages 82 to 87.

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SUPERVISORY ACTIVITIES OF THE CORPORATION 23

Approximately three-fourths of the banks admitted to insurance 

during the six years were banks not members of the Federal Reserve 

System whose admission was subject to approval by the Corporation. 

The other banks were national banks or banks admitted to the Federal 

Reserve System which upon certification of the Comptroller of the 

Currency or the Board of Governors of the Federal Reserve System 

became insured without action of the Corporation. However, the 

Comptroller of the Currency has been referring applications for new 

national charters to the Board of Directors of the Corporation for 

their opinion as to the ability of the applicant bank to meet the 

standards established by law and by the Corporation for the admission to insurance of banks not members of the Federal Reserve System.

More than four-fifths of all the admissions during the six-year 

period were made under the temporary plan, that is, from January 1,

1934, to August 22, 1935. The preponderance of admissions under 

the temporary plan reflected primarily the reorganizing and licensing 

of a large number of banks in conservatorship or operating under 

restrictions on January 1, 1934.

Under the temporary plan, banks which were certified by the State 

supervisory agencies and found by the examiners of the Corporation 

to have assets equal in value to not less than their deposits and other 

liabilities were eligible for insurance, even though the banks' capital 

funds had been largely or wholly exhausted by losses. Under the 

permanent insurance plan, however, the Corporation is required by 

law to take the factors listed below into consideration when passing 

upon the application of a bank for insurance:

The financial history and condition of the bank;

The adequacy of its capital structure;1

The bank's 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 deposit insurance.

These requirements have served to prevent an influx of undercapitalized or hazardous banks into insurance, and to discourage 

such banks from coming into existence. Approximately one-half 

of the 996 noninsured commercial banks in operation on December 

31, 1939, were known from published statements to have capital 

accounts below the minimum standards of the Corporation.1 The 

extent to which the remaining banks could qualify for insurance under

1 The Corporation’s standards with respect to adequate capital Are discussed on pages 12 and 13.

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24 FEDERAL DEPOSIT INSURANCE CORPORATION

the Corporation's standards can be determined only by examination 

of each bank and a review in each case of the factors to be taken into 

consideration.

The bank supervisory authorities of the various States and the 

Federal Deposit Insurance Corporation have worked in close cooperation to prevent the chartering of uneconomic and unsound banking 

units. On December 31, 1939, 218 banks were operating which had 

been organized and opened for business since August 23, 1935, the 

date of enactment of law imposing standards other than solvency 

for the admission of banks to insurance. Of these, only 57 were not 

insured, 21 of which were private banks in States where approval 

for the operation of such institutions was not required, and 10 others 

were cash depositories with strictly limited loan and investment 

powers.

During the year 1939, the Corporation acted on 85 applications 

for admission to insurance, of which 75 were approved and 10 disapproved. More than one-third of the applications acted on were 

from newly organized banks, slightly less than one-third from institutions operating at the beginning of the year, and about one-third 

from successors to other insured banks or banks wishing to maintain 

their insured status upon withdrawal from the Federal Reserve 

System. Further details regarding applications acted on in 1939, 

and in previous years, will be found in Table 169, page 228.

Terminations of insurance. Excluding cases involving successions or reorganizations, the insured status of 1,539 banks was 

terminated between January 1, 1934, and December 31, 1939. Most 

of these terminations were cases in which the banks discontinued 

operations. Details will be found in Table 102, pages 82 to 87.

Bank examinations. The Corporation was required to examine 

the banks not members of the Federal Reserve System which applied 

for insurance in the temporary deposit insurance funds. Under the 

temporary insurance system the Corporation examined all insured 

banks not members of the Federal Reserve System at least once 

a year. This practice has been continued under the permanent 

insurance system.

From the beginning of its operation in September 1933 to the close 

of 1939, the Corporation conducted approximately 55,000 examinations. Most of these were regular examinations of banks not members 

of the Federal Reserve System which were not examined by other 

Federal bank supervisory authorities. Approximately 130 were 

examinations of national banks or of State banks members of the 

Federal Reserve System. These 130 examinations arose in connection with actions against banks believed to be engaged in unsafe

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SUPERVISORY ACTIVITIES OF THE CORPORATION 25

or unsound practices and violations of law or regulations, in connection with insolvent or hazardous banks applying for loans to 

facilitate mergers, or in connection with applications for insurance 

from banks wishing to withdraw from the national or Federal Reserve 

systems but wishing to continue insurance.

During 1939, the Corporation conducted 7,525 examinations of 

banks and reviewed 7,122 reports of examinations made by the 

Office of the Comptroller of the Currency and by the Federal Reserve 

banks. The examinations made by the Corporation were as follows:

7,193 regular examinations of insured State banks not 

members of the Federal Reserve System;

184 additional examinations of banks not members of the 

Federal Reserve System requiring special attention, or 

believed to be engaged in unsafe or unsound practices, or 

believed to be insolvent and in need of loans from the 

Corporation to facilitate mergers with other banks;

140 examinations and investigations of banks applying for 

admission to insurance as banks not members of the Federal 

Reserve System (including 14 banks wishing to withdraw 

from the national or Federal Reserve systems but to continue to be insured), or for permission to establish or change 

location of branches;

8 examinations of national banks and State banks members of the Federal Reserve System believed to be engaged 

in unsafe or unsound practices or believed to be insolvent 

and in need of loans from the Corporation to facilitate 

mergers with other banks.

Unsafe and unsound banking practices. From August 23,

1935, to December 31, 1939, the Corporation initiated proceedings 

against 79 insured banks for engaging in continued unsafe or unsound 

practices and violations of law or regulations. Nineteen of these 

cases were initiated during the year 1939. Of the 79 banks, 18 were 

national banks, 6 were State banks members of the Federal Reserve 

System, and 55 were banks not members of the Federal Reserve 

System.

The insured status of three of the banks was terminated by the 

Corporation.1 Corrections were obtained and proceedings discontinued in the case of 13 banks, while 51 banks ceased operations, 

either through suspension or through merger or succession by other 

banks. The remaining 12 cases were not disposed of at the end 

of 1939. With one exception, all of the banks which were merged

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

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26 FEDERAL DEPOSIT INSURANCE CORPORATION

or succeeded received financial aid from the Corporation. In the 

case of five of the banks which suspended, the date for termination 

of insured status had been set by the Corporation, but the termination 

was not effective before the banks suspended. Details regarding 

the banks cited are given in Table 7.

T ab le 7. B a n k s Cited FOR ENGAGING IN UNSAFE OR UNSOUND

P ractices and V iolations of L a w or R e g u la tio n s, 1936-1939

Number of banks cited

Total

1936-1939 1939

Total banks cited1 ..................................................................................................... 79 19

Cases closed during period................................................................................ 67 12

Corrections made ........................................................................................... 13

Insurance of bank terminated for failure to make corrections2................. 3

Banks suspended3 ................................................................................................. 30 3

Banks absorbed or succeeded by other banks4.............................................. 21 9

Cases pending December 31, 1939...................................................................

Hearing held and charges sustained: action deferred..................................

12 7

3

Action deferred pending consummation of recapitalization or merger plans 4 2

Banks reexamined: action deferred................................................................... 2 2

Correction period not expired............................................................................ 3 3

1 2 banks originally cited in 1936 against which action was deferred but resumed in 1937 are tabulated 

only once.

2 1 of these 3 banks suspended four months after its insured status was terminated.

3 The date for official termination of insured status was set in 5 of these cases, but the termination 

was not effective before the banks suspended.

4 In all except 1 of these cases, the Corporation made loans to facilitate the mergers or reorganizations.

The banks cited by the Corporation for unsafe or unsound practices 

and violations of law or regulations, engaged not merely in one, but 

in many such practices and violations, and continued such practices 

or violations after repeated criticisms in successive examinations. 

All of the banks had repeatedly violated provisions of law or regulations. Nearly all of them had operated for some time with seriously 

impaired and inadequate capital. A large proportion of them had 

pursued lax loan and collection policies, and held an excessive and 

unwarranted volume of substandard assets. Most of them were 

operated by weak, hazardous, or incapable managements.

A detailed list of the unsafe and unsound practices and violations 

of law in the case of the 19 banks cited during 1939 is given in Table 8. 

Similar tables regarding practices of those cited in 1936, 1937, and

1938 will be found in the Annual Reports of the Corporation for 

those years.

Capital adjustments of banks. From August 23, 1935—the 

effective date of the law requiring Corporation approval of retirement 

of capital of insured State banks not members of the Federal Reserve 

System—to the close of 1939 the Corporation took action on approximately 6,000 formal applications from 2,848 insured banks not 

members of the Federal Reserve System to retire or reduce capital.

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SUPERVISORY ACTIVITIES OF THE CORPORATION 27

The great bulk of these applications were in connection with the 

retirement of preferred capital obligations held by the Reconstruction 

Finance Corporation. The aggregate amounts of capital obligations 

held by the Reconstruction Finance Corporation which were approved for retirement during these years amounted to $55 million. 

The aggregate amount disapproved was approximately $16 million.1

Table 8. U n s a f e AND UNSOUND BANKING PRACTICES AND VIOLATIONS

o f L a w f o r w h ic h 19 B a n k s w e r e C it e d b y t h e C o r p o r a t i o n D u r in g 1939

Type of practice or violation

Number 

of banks 

cited

, Case identification 

letters

C ap ita l:

Continued operation of bank with seriously impaired capital 19 a, b, c, d, e, f, g, h, i, j , k, 1,

Continued operation of bank with inadequate capital........... 5

m, n, o, p, q, r, s. 

g, m, p, q, r.

M anagem ent and general policies:

Operation of bank by weak, hazardous, or incapable 

management................................................................................... 14 a, b, c, d, e, f, g, h, j, k, 1,

Maintenance of lax credit, loaning, investment, or collection 

policies............................................................................................ 11

m, n, o. 

a, b, c, d, e, f, g, h, j, k, 1.

Continued carrying of losses in the bank’s assets, thereby 

failing to disclose a true statement of its condition............ 12 a, b, c, d, e, f, g, 1, m, n, o, s.

Unwarranted and excessive loans to officers, directors, employees, or their interests........................................................... 3 b, d, n.

Loan and in vestm en t policies:

Continued incurring of severe losses............................................ 2 c, d.

Excessive volume of assets in Classification IV 1....................... 16 a, b, c, d, e, f, g, h, j, k, 1, m,

Excessive volume of assets in Classification III1...................... 13

n, o, p, s. 

b, d, e, g, h, j, k, m, n, o,

Abnormal volume of assets of questionable banking merit, 

or general unsatisfactory condition of assets......................... 8

p, r, s. 

k, m, n, o, p, q, r, s.

Excessive volume of nonincome-producing assets.................... 8 c, d, g, h, k, m, p, s.

Progressive deterioration of assets............................................... 5 m, n, o, p, s.

Excessive volume of past due loans............................................

Excessive volume of “ other real estate” and “ potential other 

real estate"....................................................................................

12 b, c, d e, f, h, j, k, 1, m, n, o.

17 a, b, c, d, e, g, h, j, k, 1,

Disproportionate amount of losses in “ other real estate” . . . . 3

m, n, o, p, q, r, s.

c, d, g.

Unwarranted and excessive concentrations of credit.............. 5 a, c, 1, 1, r.

Failure to obtain and maintain current credit data................ 5 a, b, c, f, g.

Unwarranted and excessive extension of credit in violation of 

law ................................................................................................... 1 1.

Carrying of real estate in excess of maximum time permitted 

by law ............................................................................................. 1 b

M iscellaneou s:

Poor or rapidly declining earnings........................................ . 5 b, m, n, p, s.

Unwarranted payment of dividends on preferred stock......... 1 a.

Unwarranted capitalization of foreclosure costs....................... 1 a.

Unwarranted and excessive amount of contingent liabilities 

in trust department..................................................................... 1 h.

Failure to maintain adequate reserves........................................ 1 k.

Failure to proceed promptly to collect under surety bond. .. 1 j1 For method of classifying assets, see Annual Report of the Federal Deposit Insurance Corporation for

the Year. Ending December 31, 1938, pages 62-70.

The number of operating insured banks not members of the Federal 

Reserve System whose capital obligations were held by the Reconstruction Finance Corporation was reduced from 3,421 on December 

31, 1935, to 2,603 at the close of 1939. The amount of such capital obligations outstanding declined from $225 million on the earlier 

date to $169 million on December 31, 1939. Similar reductions

1 The aggregate amount disapproved is the sum of the amounts disapproved in each of the years 

during the period, 1935-1939. Since retirements disapproved in one year have in some cases been 

approved in subsequent years, the net amount disapproved for the entire period is less than $16 million.

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occurred in the case of banks members of the Federal Reserve 

System.1

During the year 1939, applications filed by 1,280 insured banks 

not members of the Federal Reserve System for the retirement of 

capital obligations held by the Reconstruction Finance Corporation 

were approved in amounts aggregating $10.8 million, and disapproved in amounts aggregating $3.1 million. Applications for the 

retirement of capital obligations held by others were approved in 

amounts aggregating $0.5 million, and disapproved in amounts 

aggregating $0.1 million. The Corporation approved the reduction 

of par or book value, but not retirable value, of preferred capital 

obligations (held in part by the Reconstruction Finance Corporation), 

and the par value of common stock, to the extent of $7.2 million in 

44 banks, and disapproved such reductions to the extent of $0.1 

million.

Establishment of branches and relocation of banking offices.

Under the deposit insurance law, insured banks which are not members 

of the Federal Reserve System must obtain the approval of the 

Corporation prior to the establishment or relocation of any additional 

office. Insured banks members of the Federal Reserve System do 

not have to obtain the consent of the Corporation for the establishment 

of branches.2 The Corporation, when considering applications for 

approval of the establishment or relocation of any such office, is 

required to consider the same factors enumerated for consideration 

in the case of banks wishing to become insured.

From August 23, 1935, to December 31, 1939, the Corporation 

acted upon 341 formal applications from banks not members of the 

Federal Reserve System for the establishment of branches or the 

absorption and continued operation of existing branches. Of these 

applications, 315 were approved and 26 disapproved. Not quite 

half of the branches approved were established in connection with 

the absorption of operating banks, or the replacement of banks or 

branches which had been closed or relocated. About two-fifths of 

the branches approved provided additional banking offices in the 

centers in which they were located. A comparatively small number 

of the applications were for continuance in operation of branches 

previously operated by absorbed or succeeded banks.

The applications regarding branches acted on by the Corporation 

in 1939, and during the period 1935-1939, are classified in Table 169, 

page 228.

1 Detailed figures are presented in Tables 123-25, pages 144-49.

2 Such consent must be obtained from the Comptroller of the Currency in the case of national banks, 

and from the Board of Governors of the Federal Reserve System in the case of State banks members 

of that system.

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From August 23, 1935, to December 1, 1939, the Corporation 

acted on applications for changes in location of 57 banks and 25 

branches, of which all but 2 were approved. Cases acted on during 

1939 involved 10 banks and 8 branches.

Approval of assumption or release of deposits. Other actions 

of the Corporation had to do primarily with applications of insured 

banks to assume deposit liabilities of noninsured banks or of other 

noninsured financial institutions, to purchase assets of banks in 

liquidation, or to pay or release deposits which had been subordinated, 

or restricted as to payment prior to August 23, 1935, and hence were 

not insured. These actions are summarized in Table 170, page 231.

Regulations and rulings. In accordance with the requirements 

of the Act of Congress approved June 19, 1937, the Corporation 

during 1939 codified, with slight revisions, its previous regulations, 

rulings, and resolutions. The codified regulations, rulings, and 

resolutions, deal with the following topics:

Part 301 defines deposits for the purpose of assessments 

and insurance;

Part 302 provides for permissible deductions in the computation of the assessment base, and also for the payment of 

assessments by banks whose insured status has terminated;

Part 303 deals with advertisement by insured banks of 

membership in the Corporation;

Part 304 covers the payment of deposits and interest 

thereon by insured banks not members of the Federal 

Reserve System other than mutual savings banks;

Part 305 contains rulings relating to the recognition, for 

insurance purposes, of deposit ownership not disclosed on 

bank records, and pertains chiefly to the Corporation's 

pay-off activities in closed banks;

Part 306 lists agents of the Corporation for service of 

process;

Part 307 relates to insurance of trust funds.

Parts 301, 302, 303, and 304 were formerly known as Regulations 

I, II, III, and IV, respectively. Parts 305, 306, and 307 were not 

previously covered by formal regulations of the Corporation, although 

portions of them had been issued in the form of rulings and resolutions. 

Parts 305 and 307 were adopted or revised during 1939. Both 

resolutions related to the determination of claims for insured deposits 

in the event of closing of an insured bank. The resolutions regarding

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the recognition of deposit ownership not on bank records related

(a) to deposits evidenced by negotiable instruments; (b) to deposit 

obligations for payment of items forwarded for collection by a bank 

acting as agent; (c) to deposits of public officers; and (d) to deposits 

of approved Federal Housing Administration mortgagees. The 

regulations regarding insurance of trust funds related to the determination of the insurance status of (a) allocation of a trust estate;

(b) interest of a trust estate in unallocated trust funds; (c) claims 

for funds of corporate trust determined on basis of allocation; and

(d) insured deposit of a trust estate. The text of Parts 305 and 307 

is given on pages 67 and 68.

Reports from banks. Beginning with 1936 each insured bank, 

as required by law, reported to the Corporation semi-annually the 

amount of its daily deposits, for the purpose of determining the amount 

of assessment to be paid for deposit insurance.

For three dates, October 1, 1934, May 13, 1936, and September 21,

1938, the Corporation asked each insured bank to submit a report 

summarizing its deposit liabilities in a form permitting an estimate 

of the amount of deposits protected by insurance.

The Corporation called for reports of assets, liabilities, and capital 

accounts as of June 30 and December 31 of each year, and for reports 

of earnings, expenses, and disposition of profits for each calendar 

year from 1934 to 1939, inclusive, from each insured State bank 

not a member of the Federal Reserve System, except those in the 

District of Columbia. The forms used for the reports of assets, 

liabilities, and capital accounts during 1939 were those adopted by 

the three Federal bank supervisory agencies and a number of State 

authorities in 1938.

Each insured bank not a member of the Federal Reserve System 

operating more than one office was requested to report the name 

and location and the amount of deposits in each office as of December 

31, 1936, December 31, 1937, June 30, 1938, and June 30, 1939.

The data reported have been summarized and published in pamphlet 

form or in the Corporation's annual reports.

L e g is l a t io n D u r in g 1939 A f f e c t in g D e p o s it I n s u r a n c e

Federal legislation. Under the Banking Act of 1935, any insured 

State bank, with certain exceptions, which, during the calendar year 

1941 or any succeeding year should have average deposits of $1,000,000 

or more, would be required to become a member of the Federal Reserve 

System or to withdraw from insurance. This provision of the deposit 

insurance law was repealed on June 20, 1939. The text of the Act 

repealing this provision is given on page 65.

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Federal Reserve Bank of St. Louis
LEGISLATION AFFECTING DEPOSIT INSURANCE 31

On August 4,1939, the United States Senate agreed to a resolution 

authorizing the Committee on Banking and Currency to conduct a 

study and hold hearings to consider and recommend a national monetary and banking policy by which the monetary and banking authorities of the Federal Government should be guided and governed, and 

to consider and recommend the character of governmental machinery 

best calculated to carry out such policy. The text of this resolution 

is given on page 66.

State legislation directly affecting the operations of the

Corporation. During 1939, the legislatures of 21 States enacted 

measures affecting deposit insurance and the operations of the Corporation. Eight States authorized or further liberalized provisions of 

law permitting the deposit of public funds in insured banks without 

pledge of security for such funds up to the amount of insurance protection provided. These States were Arizona, Colorado, Kansas, 

Michigan, Nebraska, New Mexico, New York, and North Carolina. 

Arizona and Colorado also repealed provisions of law requiring payment of interest on public funds. The provisions repealed were in 

conflict with Federal law prohibiting payment of interest on demand 

deposits. Four States authorized the deposit of trust funds in insured 

banks without security up to the amount of protection provided by 

deposit insurance. These States were Tennessee, Utah, Washington, 

and West Virginia.

Double liability of stockholders was repealed in three States: 

Nebraska, Tennessee, and West Virginia. In Nebraska, repeal was 

effective immediately as to liability for new deposits but only on and 

after September 1, 1940, as to deposits on hand as of date of enactment. In West Virginia, repeal was conditional upon the bank being 

insured by this Corporation or having unimpaired surplus equal to 

50 percent of capital. Action was taken to submit constitutional 

amendments to the electorate to accomplish repeal of double liability 

of stockholders in Indiana, Oregon, Utah, and Washington. Pennsylvania amended its statute for the purpose of authorizing final repeal 

on July 1, 1941, or any subsequent date, conditional upon six months' 

prior notice, and to provide that the liability should not apply in 

institutions thereafter incorporated.

Authority was clarified for the exchange of examinations and other 

information pertaining to banks between State authorities and the 

Federal Deposit Insurance Corporation in Alabama, Arizona, Missouri, 

and Rhode Island. The Alabama legislature also reduced the required 

number of examinations of insured State banks from two to one per 

year.

The Arizona legislature enacted legislation expressly confirming the 

authority of all banking institutions to take all such steps as might be

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

necessary or appropriate to obtain the advantage of insurance of this 

Corporation, and confirmed the right of subrogation of the Corporation 

to the claims of depositors. In Arkansas, banking laws were amended 

to include, as grounds upon which a bank or trust company should be 

deemed insolvent, receipt of advice by the State banking department 

of the intention of the Corporation to terminate the insured status of a 

bank. The Minnesota legislature authorized the appointment of the 

Corporation as liquidator in the case of insured banks placed in receivership. The South Carolina legislature adopted an act providing 

that in addition to all other requirements to be observed in obtaining 

a charter for a banking institution, the paid-in capital must be 

"sufficient to qualify such bank or banking institution for membership 

in the Federal Deposit Insurance Fund/'

State legislation relating to bank supervision. In addition to 

the legislation enumerated above, 22 States enacted legislation during

1939 affecting banking and bank supervision. The legislation dealt

with the following subjects:

Bank examinations and reports from banks...............California, Kansas,

Oregon

Creation of banking boards or commissions...............Maryland, North

Carolina, Vermont

Capital requirements of banks and trust

companies and the accumulation of surplus.......... California, Illinois,

Minnesota, Missouri,

West Virginia, Wyoming

Investments of savings banks, trust companies,

and fiduciaries....................................................................Alabama, California,

Indiana, Minnesota,

Missouri, New Jersey,

New York, Pennsylvania

Duties and responsibilities of directors........................ Kansas, New York

Payment of dividends..........................................................Kansas, Missouri,

Wyoming

Escheat of unclaimed deposits.........................................Tennessee

Establishment of paying and receiving stations....... Wisconsin

Regulation of payment of interest on deposits..........New York, Wyoming

Liquidation of banks............................................................Massachusetts, Missouri

General exercise of supervision over banks.................Michigan, Missouri,

Oregon, Rhode Island

Operation of trust departments and trust funds......Alabama, Pennsylvania

Extension of powers of industrial banks......................North Carolina, Texas

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Federal Reserve Bank of St. Louis
ORGANIZATION AND STAFF 33

O p e r a t i n g S t a t e m e n t o f t h e C o r p o r a t io n

Organization and staff. No changes in the directorship of the 

Corporation occurred during 1939. Mr. Leo T. Crowley, Chairman 

of the Corporation, and Mr. Phillips Lee Goldsborough, Director, 

whose appointments expired on September 6, 1939, were reappointed 

for six-year terms. The appointment of Mr. Preston Delano as 

Comptroller of the Currency, made October 24, 1938, was confirmed 

by the Senate on January 12,1939. The Comptroller of the Currency 

is ex officio member of the Board of Directors and served in that 

capacity throughout the year.

The personnel increased by 321 during the year and on December 31,

1939, consisted of 1,484 officers and employees, of whom 489 were 

located in the main office in Washington and 995 in the field and at 

regional offices. The number of officers and employees in each 

Division of the Corporation is given in Table 9.

T ab le 9. OFFICERS AND EMPLOYEES OF THE CORPORATION, 

D e c e m b e r 31,1939

Total

Officers and 

administrative, 

supervisory, 

and technical 

employees

Clerical,

stenographic,

and

custodial

employees

Total ............................................................................................... 1,484 636 848

Washington office..................................................................... 489 136 353

Directors and aides.................................................................. 25 7 18

Division of Finance and Administration............................ 174 13 161

Division of Examination......................................................... 47 23 24

Division of Liquidation1......................................................... 173 73 100

Legal Division........................................................................... 15 5 10

Division of Research and Statistics..................................... 55 15 40

District and field offices......................................................... 995 500 495

Division of Examination........................................................ 541 390 151

Division of Liquidation........................................................... 454 110 344

1 Includes attorneys and aides devoting full time to problems of liquidation and payment of insured claims.

The increase in personnel during the year was chiefly in the Division 

of Liquidation and in the Division of Finance and Adminstration and 

resulted for the most part from the expansion of the work of the 

Corporation in connection with the payment of insured deposits in 

insured banks and the liquidation of banks for which the Corporation 

was receiver, the liquidation of assets purchased by the Corporation 

or taken over as collateral on loans made by it, and the maintenance 

of accounting records.

No changes were made in the divisional organization of the Corporation during 1939. The organization chart of the Corporation as of 

December 31, 1939, is shown on page 5.

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

Extension of civil service to employees of the Corporation.

In accordance with Executive Orders Nos. 7916, 8043, and 8044, 

issued in 1938 and 1939, all clerical and lower administrative staff 

positions of the Corporation were covered into the competitive classified civil service on February 1, 1939. The incumbents of those 

positions, numbering 515, are being given the opportunity to acquire 

classified civil service status upon passing suitable noncompetitive 

examinations.

Competitive examination for assistant bank examiners.

During 1939 a nationwide open competitive examination was held by 

the United States Civil Service Commission at the request and invitation of the Corporation for the purpose of selecting assistant bank 

examiners for the Corporation's field service. Approximately 8,000 

applicants, qualified as to education, experience, and age, competed 

in the written portion of the examination which was designed to 

measure general aptitude and knowledge of banking and finance. 

Applicants obtaining the highest grades on the written examination 

competed further in oral examinations attended by bankers, representatives of the United States Civil Service Commission, and representatives of the Corporation. The oral portion of the examination 

was designed to measure character and ability to cooperate and adjust 

to new situations.

Vacancies in the examining service of the Corporation above the 

rank of assistant examiner are filled through promotions on the basis 

of field records, recommendations of the District Supervising Examiners, and written and oral examinations.

Income and expenses. Total income of the Corporation for the 

entire period of its existence up to December 31, 1939, amounted to 

$218.6 million of which $164.9 million were received from assessments 

on insured banks and $53.7 million were from income and profits on 

investments. Administrative expenses of the Corporation were $18.5 

million and charges on account of insurance expenses and estimated 

losses were $36.7 million. Accumulated surplus of the Corporation 

on December 31, 1939, was $163.4 million.

Total income for the calendar year 1939 was $51.2 million, of which 

$40.7 million represented assessments and $10.5 million interest (less 

provision for amortization of premiums) on investments, loans, and 

subrogated claims, and profits on securities sold. Total losses and 

expenses for the year amounted to $20.7 million, of which $17.4 

million were insurance losses and expenses and $3.4 million were 

administrative expenses and other charges. The surplus of the 

Corporation was increased by $32.2 million during the year, reflecting 

net income of $30.4 million and adjustments to surplus, applicable to

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Federal Reserve Bank of St. Louis
OPERATING STATEMENT OF THE CORPORATION 35

prior periods, of $1.7 million. The chief items of income and expense 

of the Corporation for each year since beginning operations are shown 

in Table 10, and a detailed statement of income and expenses for the 

year 1939 is given in Table 11.

Table 10. INCOME AND EXPENSES OF THE CORPORATION SINCE BEGINNING

O p e r a t i o n s 1

(In millions of dollars)

Total 1939 1938 1937 1936 1935 21933-34

Income— total.............................................. 218.6 51.2 47.8 48.1 43.8 20.7 7.0

Deposit insurance assessments3............... 164.9 40.7 38.3 38.8 35.6 11.5

Investment income and profits............... 53.7 10.5 9.4 9.3 8.2 9.3 7.0

Expenses— total............................................ 55.2 20.7 10.8 7.4 6.1 5.7 4.5

Deposit insurance losses and expenses. . 36.7 17.4 7.8 4.7 3.6 3.0 0.3

Administrative expenses4.......................... 18.5 3.4 3.0 2.7 2.5 2.7 54.2

Net income added to surplus................. 163.4 30.4 37.0 40.7 37.7 15.1 2.5

1 Figures of total expenses, deposit insurance losses and expenses, and net income added to surplus 

for years prior to 1939 differ from those shown in previous Annual Reports because of revisions in 

estimates of losses allocated to the different years.

2 Includes expenses from date of organization, September 11, 1933, to December 31, 1934.

3 Assessments collected from insured banks, members of the temporary insurance funds, were credited 

to their accounts in total at the termination of the temporary funds, being applied toward subsequent 

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

assessments for the term of the temporary insurance funds.

4 Includes furniture, fixtures, and equipment purchased and charged off.

6 After deducting portion of expenses and losses charged to banks withdrawing from the temporary 

funds on June 30, 1934.

N OTE: Figures do not balance precisely because of rounding.

Claims held by Corporation against suspended and merged

banks. On December 31,1939, the Corporation held subrogated and 

pending claims of depositors against closed insured banks, loans to 

merging banks made to avert losses, and other assets acquired through 

bank suspensions and mergers amounting at face value to a total of 

$99.8 million. The estimated recoverable value of these assets is 

$64.2 million, $35.5 million being represented by a reserve for losses.1

Audit. In accordance with the Corporation's policy of having an 

annual independent audit, the accounts of the Corporation as of 

June 30, 1939, were audited by Arthur Andersen & Co. The balance 

sheet of the Corporation as of June 30, 1939, together with the auditors' certificate, is given in Table 12.

Assets and liabilities. Condensed balance sheets of the Corporation as of December 31, 1938, and December 31, 1939, are given in 

Table 13.

1 The difference between estimated losses and nonrecoverable expenses of $36.7 million, given on

pages 4,15, and 16, and the reserve for losses of $35.5 million given above reflects expenses and realized

losses charged off.

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

T a b le 11. INCOME AND EXPENSES OF THE FEDERAL DEPOSIT INSURANCE

C o rpo ratio n , Ca le n d a r Y e a r 1939

Income:

Deposit insurance assessments............................................................ $ 40,725,480.46

Interest earned and profit on sales of securities (less provision for

amortization of premiums).............................................................. 10,430,472.84

Interest received on loans and subrogated claims of depositors. . 29,680.79

Total incom e................................................................... $ 51,185,634.09

Expenses:

Deposit insurance losses and expenses.............................................. $ 17,358,971.14

Administrative expenses (see below )................................................. 3,279,021.33

Furniture, fixtures, and equipment purchased and charged o ff. . . 110,303.94

Total expenses................................................................. $ 20,748,296.41

Net income added to surplus.................................... $ 30,437,337.68

Surplus December 31, 1938:

As previously reported.......................................................................... $131,244,960.67

Plus— net adjustments applicable to periods prior to Jan. 1, 1939 1,728,866.68

Surplus as adjusted December 31, 1938............... $132,973,827.35

Surplus December 31, 1939........................................ $163,411,165.03

DISTRIBUTION OF ADMINISTRATIVE EXPENSES

Salaries.......................................................................................................................................... $ 2,414,801.93

Professional services.................................................................................................................. 29,259.17

Services of other governmental agencies.............................................................................. 145.00

Transportation............................................................................................................................ 114,400.90

Subsistence................................................................................................................................... 380,872.26

Office rental................................................................................................................................. 197,765.32

Printing, stationery, and supplies.......................................................................................... 89,953.94

Postage, telephone, and telegraph......................................................................................... 36,417.72

Insurance and fidelity bond premiums.................................................................................. 1,274.00

Safekeeping and service charges on securities..................................................................... 11,685.09

Subscriptions............................................................................................................................... 6,337.04

Equipment rental....................................................................................................................... 8,093.92

Repairs and alterations............................................................................................................. 17,875.01

Transportation of things.......................................................................................................... 2,317.05

Miscellaneous............................................................................................................................... 6,084.07

Provision for undetermined expenses.................................................................................... 1,903.02

$ 3,319,185.44

Less:

Miscellaneous income applicable to reduction of administrative 

expenses................................................................................................ $ 20,328.10

Inter-departmental expense transfers................................................ 19,836.01 $ 40,164.11

A dm inistrative expenses for the year ending D ecem ber 31,

1939....................................................................................................... $ 3,279,021.33

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Federal Reserve Bank of St. Louis
OPERATING STATEMENT OF THE CORPORATION 37

T ab le 12. AUDITORS’ REPORT 

A r t h u r A n d e r s e n & C o .

67 W a l l Stre et

New Y o rk

To t h e B o a r d of D ir e c t o r s ,

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 :

We have made an examination of the balance sheet of the Federal Deposit Insurance Corporation at June 30, 1939, including the related statement of income

and expenses for the year ended that date, which statement of income and expenses

is summarized under the surplus account in the balance sheet. In connection

therewith, we examined or tested accounting records and other supporting evidence

of the Corporation maintained in the Washington office (except records of the

Corporation as Receiver for certain closed insured banks) and reviewed the system

of internal control and the accounting methods, in the manner and to the extent

we deemed appropriate, but we did not make a detailed audit of the transactions.

Collateral to loans to merging insured banks and subcollateral thereto, and evidences

of ownership of assets purchased from insured banks, were held for the most part

at June 30, 1939, by Liquidating Agents of the Corporation. The items held by

the Liquidating Agents were not examined by us but we reviewed reports as of

recent dates prepared by the Corporation’s internal audit department or inventories

with respect to recent loans prepared by the Corporation’s examiners, covering

their verification of such items.

In our opinion, based upon such examination, the accompanying balance sheet

fairly presents the financial position of the Corporation at June 30, 1939, and the

results of its operations for the year ended that date.

( Signed) A r t h u r A n d e r s e n & Co.

New York, N. Y .,

October 21, 1939.

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Federal Reserve Bank of St. Louis
Table 12. Auditors’ Report— Continued gg

FEDERAL DEPOSIT INSURANCE CORPORATION 

BALANCE SHEET— JUNE 30, 1939

ASSETS LIABILITIES

Cash on hand and on deposit.

United States Government Securities and accrued interest receivable thereon:

United States Government securities, 

$3UO,320,1+50 'principal amount—•

stated at cost ($3^3,^95,857.32) less

reserve for amortization of premiums

($1,237,52^43)..................................

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

$342,258,332.89

1,405,294.32

Liabilities:

$22,726,089.04 Accounts payable................................................................................

Earnest money deposits and unapplied collections applicable 

to loans to merging insured banks and assets purchased. . . 

Net balances of depositors in closed insured banks, pending

final settlement or not claimed— per contra...........................

Unused credits for assessments paid to Temporary Federal

Deposit Insurance Funds and prepaid assessments...............

Accrued expenses................................................................................

Total liabilities....................................................................

Capital stock and surplus (The entire capital stock and surplus

constitutes a reserve for future deposit insurance losses and related

expenses with respect to insured banks. It is estimated that the

insured deposits in operating insured banks at June 30, 1939,

343,663,627.21 amounted to approximately $2U billion):

$ 230,839.06

116,570.86

5,011,077.06

20,620.04 

111,492.49 

$ 5,490,599.51

Assets acquired through bank suspensions and mergers (less collections) :

Subrogated claims of depositors

against closed insured banks......... $ 38,232,368.21

Net balances of depositors in closed 

insured banks, pending final settlement or not claimed, to be subrogated when paid— per contra........ 5,011,077.06

Loans to merging insured banks to 

reduce or avert deposit insurance 

losses, including recoverable liquidation expenses (Note 1) ........ 59,927,173.87

Assets purchased from merging insured banks to reduce or avert

deposit insurance losses.. . ............. 778,482.71

Assets purchased from closed insured

banks................................................... 44,275.54

$103,993,377.39

Less— Reserve for losses.......................... 40,462,250.63 63,531,126.76

Capital stock, without nominal or par value (nonvoting and

not entitled to the payment of dividends)—

Held by—

United States Government................................................. $150,000,000.00

Federal Reserve banks......................................................... 139,299,556.99

$289,299,556.99

Surplus—

Balance, June 30, 1938............................. $112,699,149.67

Net increase in surplus for the year 

ended June 30, 1939—

Income—

Deposit insurance assessments. . . . $ 39,001,979.01 

Interest earned and net profit from 

sales of United States Government securities (less provision for

amortization of premiums).............. 10,615,632.30

Interest received on settled loans to 

merging insured banks and subrogated claims of depositors........ 27,134.20

$ 49,644,745.51

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Furniture, fixtures, and equipment Expenses—

— Nominal value................................... 1.00 Deposits insurance losses and expenses (Note 2) .............................. $ 23,947,266.90

Administrative expenses................... 3,127,216.69

Furniture, fixtures, and equipment

purchased......................................... 86,800.81

$ 27,161,284.40

Deferred charges and miscellaneous

receivables......................................... 51,923.27

Net increase in surplus for the year

ended June 30, 1939.....................

Balance, June 30, 1939.............................

Total capital stock and surplus.

22,483,461.11

$135,182,610.78

$429,972,767.28

' 424,482,167.77 

$429,972,767.28

NOTES:

(1) Loans to merging insured banks are evidenced by demand notes bearing interest at the rate of 4% per annum. Accrued interest receivable on the loans at June 30, 1939, 

amounted to $2,311,702.32, which was carried by the Corporation in a memorandum account and is not included in the foregoing balance sheet.

(2) The Corporation from time to time revises its estimates of probable deposit insurance losses and expenses when appraisals are completed or reappraisals are made and 

follows the practice of carrying direct to surplus the adjustments of the reserve for losses insofar as such adjustments relate to assets acquired through bank suspensions and 

mergers which occurred in a prior period. In the accompanying balance sheet such adjustments (amounting to a net debit of $6,994.64) have been transferred to the related 

expense accounts.

(3) Under the provisions of section 12B of the Federal Reserve Act, as amended by Title I of the Banking Act of 1935 (subsection “ o” ), the Corporation is authorized and 

empowered to issue and to have outstanding its notes, debentures, bonds or other such obligations, in a par amount aggregating not more than $974,601,101.64.

The Secretary of the Treasury, in his discretion, is authorized to purchase any such obligations of the Corporation and is authorized and directed to purchase obligations of 

the Corporation in an amount not to exceed $250,000,000 par value whenever in the judgment of the Board of Directors of the Corporation additional funds are required for 

insurance purposes.

The Reconstruction Finance Corporation, as provided in subsection (b) of section 5e of the Reconstruction Finance Corporation Act, as amended, is authorized and directed 

to purchase at par value such obligations of the Corporation as are authorized to be issued, upon request of the Board of Directors of the Corporation, provided that the Reconstruction Finance Corporation shall not purchase or hold at any time said obligations in excess of $250,000,000 par value. If the Reconstruction Finance Corporation fails for 

any reason to purchase any of the obligations of the Corporation, the Secretary of the Treasury is authorized and directed to purchase such obligations in an amount equal to 

the amount of such obligations the Reconstruction Finance Corporation so fails to purchase.

00

SOOPERATING STATEMENT OF THE CORPORATION

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

Table 13. COMPARATIVE BALANCE SHEET OF THE FEDERAL DEPOSIT INSURANCE

C o r p o r a t i o n , D e c e m b e r 31, 1939, a n d D e c e m b e r 31, 1938

ASSETS

Assets acquired through bank suspensions and mergers:

Subrogated claims of depositors against closed insured banks.. 

Net balances of depositors in closed insured banks pending settlement or not claimed, to be subrogated when paid— contra. . . .

Loans to merging banks to avert deposit insurance losses..............

Assets purchased from merging banks and receivers of closed insured banks to avert deposit insurance losses.................................

Less: Reserve for losses.

Cash on hand and on deposit..........................................................

United States Government securities (cost less reserve for 

amortization of premiums) and accrued interest receivable. .

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

Deferred charges and miscellaneous assets.................................

Total assets.......................................................................

LIABILITIES

Current liabilities:

Accounts and assessment rebates payable............................................

Net balances of depositors in closed insured banks pending settlement or not claimed— contra...............................................................

Earnest money deposits and unapplied collections applicable to 

loans to merging banks and assets purchased.............................

Unused credits for assessments paid to temporary Federal

Deposit Insurance funds and prepaid assessments.........

Reserve for administrative and deposit insurance expenses. .

Total liabilities..................................................................

CAPITAL

Capital stock:

United States.................

Federal Reserve banks.

Surplus— (see Table 11)....................................

Total capital...............................

Total liabilities and capital.

1939 1938

$ 38,798,794.90 $ 18,825,799.24

2,796,026.59

57,366,066.44

909,151.21

26,613,183.29

802,991.62

$ 99,763,879.55

35,533,139.86

$ 64,230,739.69

851,490.58

$ 47,199,624.32

20,649,547.76

$ 26,550,076.56

28,276,433.37 22,230,284.28

363,542,301.83 372,758,341.10

1.00 1.00

64,251.66 83,623.94

$456,113,727.55 $421,622,326.88

$ 289,113.00 $ 77,452.12

2,796,026.59 909,151.21

209,678.02 8,245.01

2,583.76 41,456.50

105,604.16 41,504.38

$ 3,403,005.53 $ 1,077,809.22

$150,000,000.00

139,299,556.99

$289,299,556.99

$150,000,000.00

139,299,556.99

$289,299,556.99

163,411,165.03 131,244,960.67

$452,710,722.02 $420,544,517.66

$456,113,727.55 $421,622,326.88

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Federal Reserve Bank of St. Louis
PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
B a n k in g D e v e lo p m e n ts 1934-1939

The first six years of deposit insurance was a period of business and 

financial recovery with a rapid and sustained expansion in deposits 

and assets of banks. The condition of the banks improved substantially and, for the most part, their earnings were better in the 

last half than in the first half of the period. The trend toward 

branch banking which has been in evidence since the turn of the 

century continued during the six years.

C o m m e r c ia l B a n k in g O f fic e s

Banking offices in operation. The number of commercial banks 

and branches in operation in the United States and possessions 

increased from approximately 17,500 on January 1, 1934, to 18,095 

on December 31, 1939. The growth reflected chiefly an increase 

in the number of operating branches of banks. The number of banks 

was approximately 100 fewer at the close than at the beginning of 

the six-year period, while the number of branches in operation increased by about 700. The figures are summarized in Table 14.

Table 14. N u m b e r OF COMMERCIAL BANKING OFFICES IN THE

U n it e d S t a t e s a n d P o s s e s s io n s , D e c e m b e r 30, 1939, a n d J a n u a r y 1, 1934

Dec. 31, 

1939

Jan. 1, 

19341

Change

T ota l o ffic e s ..................................................................................... 18,095

14,534

13,579

955

3,561

17,490

14,656 

lh ,053

603

2,834

+ 605

-122

+352

+ 727

Banks: .........................................................................................

Unit banks.................................................................................

Banks operating wore than one office......................................

Branches or additional offices...................................................

1 Available figures for private banks are included, but these are known to be incomplete.

The number of banks increased by more than 700 during 1934 and 

early 1935 but declined continuously thereafter. A total of approximately 1,500 banks came into existence or were licensed to 

operate without restriction during the six-year period, while a slightly 

larger number went out of existence through suspension, voluntary 

liquidation, absorption, merger, or consolidation.1 The number of 

branches increased from year to year. Approximately 25 percent 

of the banking offices were members of branch systems at the close 

of 1939, compared with 20 percent at the beginning of 1934,18 percent 

in 1925, and less than 1 percent in 1900.

i Detailed figures of changes in the number of insured banks are shown in Table 102, page 82.

43

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44 FEDERAL DEPOSIT INSURANCE CORPORATION

The number of noninsured commercial banks in operation declined 

from approximately 1,670 on January 1, 1934, to 996 at the close 

of the period, while the number of insured commercial banks increased from 12,987 to 13,538.

Distribution of banks by size. The growth in assets and 

deposits of banks and the discontinuance of operation of large numbers 

of small and medium-size banks resulted in a substantial shift in the 

distribution of banks by size over the six-year period. The figures 

are shown in Table 15.

Table 15. NUM BER OF COMMERCIAL BANKS IN THE UNITED STATES

a n d P o s s e s s io n s , 1939 a n d 1934

GROUPED BY AMOUNT OF DEPOSITS

Number of banks Percentage

distribution

June 30, 

1939

Jan. 1,

19341

June 30, 

1939

J a n .1, 

1934

All banks.................................................................................. 14,585 14,656 100.0% 100.0%

Banks with deposits of—

$100,000 or less.................................................................... 821 2,449 5.6 16.7

$100,000 to $250,000.......................................................... 2,838 3,884 19.5 26.5

$250,000 to $500,000.......................................................... 3,253 2,887 22.3 19.7

$500,000 to $1,000,000....................................................... 3,012 2,219 20.7 15.1

$1,000,000 to $2,000,000................................................... 2,119 1,480 14.5 10.1

$2,000,000 to $5,000,000................................................... 1,461 965 10.0 6.6

$5,000,000 to $10,000,000................................................. 513 343 3.5 2.4

$10,000,000 to $50,000,000............................................... 395 255 2.7 1.7

More than $50,000,000...................................................... 128 93 .9 .6

Not available........................................................................ 45 81 .3 .6

1 Available figures for private banks are included, but these are known to be incomplete.

In 1934, approximately 45 percent of the banks had deposits not 

exceeding $250,000 each. In 1939 the proportion had declined to 25 

percent. On the other hand, only 5 percent of the banks had deposits 

of more than $5,000,000 each in 1934, whereas 7 percent of the banks 

were of that size in 1939. The proportion of banks with deposits of 

$500,000 to $5,000,000 each also increased substantially during the 

period. These changes, however, were not accompanied by an increased concentration of deposits in the very large banks. Both in 

1934 and 1939, the 100 largest commercial banks in the country held 

approximately 55 percent of the deposits of all commercial banks.

A ssets a n d L ia b il it ie s of I n su r e d C o m m er c ial B a n k s

Changes during six years 1934-1939. Assets and deposits of 

insured commercial banks increased by more than 50 percent during

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ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 45

the six years of deposit insurance. Total assets increased from 

$43.4 billion on June 30, 1934, the first date for which statements 

are available for all insured banks, to $63.1 billion on December 30, 

1939, or by $19.7 billion.1 This increase was composed of the following items:

Increase in currency and coin on hand and in

reserves with Federal Reserve banks........... $8.2 billion

Increase in amounts due from other banks___ 4.3 billion

Increase in securities......................................... 5.9 billion

Increase in loans............................................... 1.7 billion

Decrease in other assets.................................... -0.4 billion

Changes in assets and liabilities of operating insured commercial 

banks from June 30, 1934, to December 30, 1939, are shown in Table 

16.

Table 16. ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS,

D e c e m b e r 30, 1939, a n d J u n e 30, 1934

(Amounts in millions of dollars)

ASSETS

Cash and reserves with Federal Reserve banks...............

Amounts due from other banks............................................

U. S. Government obligations, direct and fully guaranteed .....................................................................................

Other securities........................................................................

Loans, discounts, and overdrafts........................................

Fixed assets...............................................................................

Miscellaneous assets................................................................

Total assets................................................................

LIABILITIES AND CAPITAL

Deposits of other American banks......................................

Other demand deposits...........................................................

Other time deposits.................................................................

Total deposits...........................................................

Miscellaneous liabilities..........................................................

Total capital accounts............................................................

Total liabilities and capital accounts.............

Detailed figures— See Table 117, pages 128-31.

Amount Change

Dec. 30, 

1939

June 30, 

1934

Amount Percent

12,671

9,205

4,442

4,901

+8,229

+4,304

+ 185.0 

+87.8

15,568

6,860

16,866

1,657

320

63,147

10,302

6,196

15,190

1,640

764

43,435

+ 5,266 

+ 664 

+ 1,676 

+ 17 

-444 

+ 19,712

+ 51.1 

+ 10.7 

+ 11.0

+ 1.0

-58.1 

+45.4

8,761

32,238

15,077

56,076

4,271

19,169

12,393

35,833

+ 4,490 

+ 13,069 

+ 2,684 

+ 20,243

+ 105.1 

+ 68.2

+ 21.7 

+ 56.5

546

6,525

63,147

1,357

6,245

43,435

-811 

+ 280 

+ 19,712

-59.8 

+ 4.5 

+ 45.4

The increase in currency and coin on hand and in reserves with 

the Federal Reserve banks was the result chiefly of an increase in 

the gold stock of $9.8 billion, and an increase in Treasury currency 

outstanding of $0.6 billion, partially offset by a withdrawal of $1.8 

billion of currency by the public and by an increase of $0.4 billion 

in deposits of foreign banks with the Federal Reserve banks.

1 Assets of these banks are estimated to have increased by about $4 billion during the first six months 

of 1934.

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46 FEDERAL DEPOSIT INSURANCE CORPORATION

Of the $5.9 billion increase in securities held by insured commercial 

banks, $5.3 billion was in obligations issued by or guaranteed by 

the United States Government. The excess of new loans extended 

by banks over loan repayments by borrowers was considerably 

greater than the net increase of $1.7 billion shown in the consolidated 

statements. The banks charged off as losses the net amount of 

about $1 billion of loans, so that new loans are estimated to have 

exceeded loan repayments by at least $2.5 billion. The growth in 

loans was in industrial, commercial, agricultural, and real estate 

loans.

Deposits of insured commercial banks increased from $35.8 billion 

on June 30, 1934, to $56.0 billion on December 30, 1939, or by $20.2

billion.1 Other liabilities of the banks declined by $0.8 billion during 

the period as a result chiefly of retirement of national bank notes. 

Total capital accounts increased by only $0.3 billion.

Changes during 1939. Deposits of insured commercial banks 

increased by $6.3 billion during 1939, the largest single increase of 

any year of deposit insurance since 1934. As in the case of the 

period since 1934, the increase in 1939 reflected chiefly an influx of 

funds from abroad, redeposits by banks of funds in other banks, 

purchases of obligations issued by or guaranteed by the United States 

Government, and a growth of loans, chiefly to commercial and industrial borrowers. Detailed figures for insured commercial banks 

are presented in Table 117, pages 128 to 131. Summary figures for 

both insured and noninsured commercial banks are shown in Table 

116, pages 124 to 127.

E x a m in e r s' A p p r a isa l of C o n d it io n of I n su r e d

C o m m e r c ia l B a n k s

Analysis of assets. Total assets of 13,505 insured commercial 

banks examined in 1939 were valued on their books at $58.3 billion.2 

Examiners appraised the assets at $58.0 billion, or 99.5 percent of 

book value, the remaining 0.5 percent representing examiners' net 

deductions on appraisals. Slightly more than 5 percent of the 

assets were of substandard quality. Approximately 94 percent were 

not criticized compared with about 92 percent in 1938. Percentage 

figures for 1939 are shown in Table 17. The fixed assets not criticized, shown in the table, represent the value of bank premises and 

equipment considered by the examiners to be reasonable in proportion 

to the business of the bank.

1 Deposits of insured commercial banks increased by about $4 billion during the first half of 1934.

2 The number of commercial banks for which data of examinations were tabulated is about 100 less 

than the number of operating insured commercial banks; some banks were not examined in 1939 and 

reports of examination of some banks were not available for inclusion in the tabulations. See the 

Explanatory Note to Part Five, page 74.

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CONDITION OF INSURED COMMERCIAL BANKS 47

Table 17. APPRAISED VALUE OF ASSETS PER $100 OF BOOK VALUE,

E x a m in a t io n in 1939

INSURED COMMERCIAL BANKS

Book

value

Examiners’

deductions

(net)

Appraised value

Total

Substandard

Not

criticized

Total assets......................................................

Cash and due from banks..........................

$100.00

100.00

100.00

100.00

100.00

100.00

$0.52 $99.48

100.00

99.62

99.02

96.31

99.95

$5.10 $94.38

100.00

93.96

91.37

fifi.48

94.61

Securities.........................................................

Loans...............................................................

Fixed assets...................................................

Miscellaneous assets....................................

.38

.98

3.69

.05

5.66

7.65

29.83

5.34

Detailed figures-—See Tables 131 and 133, pages 162-65 and 170-73.

Three-fifths of the banks, with four-fifths of the deposits, had 

fixed and substandard assets equal to less than 10 percent of the 

appraised value of assets. Approximately one-tenth of the banks, 

holding less than 4 percent of the deposits, had fixed and substandard 

assets equal to 20 percent or more of the appraised value of assets. 

The figures are shown in Table 18.

T ab le 18. N u m b e r AND DEPOSITS OF BANKS GROUPED BY

F ix e d a n d S u b s ta n d a r d A s s e t s R a t io , E x a m in a tio n in 1939

INSURED COMMERCIAL BANKS

Number of banks Amount of deposits

Total Percentage

distribution

Total (in 

millions of 

dollars)

Percentage

distribution

All banks.................................................................................. 13,505 100.0% 50,977 100.0%

Banks with fixed and substandard assets per

$100 of appraised value of assets of—

$0.00 to $9.99....................................................................... 8,206 60.7 41,119 80.6

$10.00 to $19.99................................................................... 3,958 29.3 7,939 15.6

$20.00 to $29.99................................................................... 1,009 7.5 1,314 2.6

$30.00 to $39.99................................................................... 253 1.9 497 1.0

$40.00 or more...................................................................... 79 .6 108 .2

Detailed figures— See Tables 134-35, pages 174-75.

The significance of the amount of fixed and substandard assets 

must be considered in relation not only to the total amount of assets 

but also to the net sound capital. In about 3,200 of the banks, 

holding about 20 percent of the deposits of the country, fixed and 

substandard assets exceeded net sound capital. In approximately 

700 of the banks the amount of fixed and substandard assets was 

more than double the amount of net sound capital. These 700 banks

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held about $2 billion of deposits, or about 4 percent of total deposits 

of all insured commercial banks. The number and deposits of 

operating insured commercial banks examined in 1939 grouped 

according to net sound capital ratio and by fixed and substandard 

asset ratio appear in Tables 134 and 135, pages 174 and 175.

In general, the ratio of substandard to appraised value of assets 

was higher in the small banks than in the large banks. These differences tended to be offset by the higher ratio of net sound capital 

to appraised value of assets in the small banks as compared with the 

large banks. Comparisons are given in Table 19.

Table 19. SUBSTANDARD ASSET AND N E T SOUND CAPITAL RATIOS,

E x a m in a t io n in 1939

INSURED COMMERCIAL BANKS GROUPED BY AMOUNT OF DEPOSITS

Number 

of banks

Substandard 

assets per 

$100 of 

appraised 

value of 

assets

Net sound capital 

per $100 of—

Appraised 

value of 

assets

Total

capital

accounts

All banks................................................................. 13,505 $5.12 $10.63 $95.18

Banks with deposits of—

$100,000 or less................................................... 488 11.79 25.55 92.28

$100,000 to $250,000......................................... 2,486 8.90 17.50 94.70

$250,000 to $500,000......................................... 3,118 7.51 14.80 95.20

$500,000 to $1,000,000...................................... 2,937 7.26 13.27 94.67

$1,000,000 to $2,000,000.................................. 2,064 7.62 12.54 93.29

$2,000,000 to $5,000,000.................................. 1,425 7.41 12.13 93.43

$5,000,000 to $10,000,000................................ 487 6.67 11.52 94.64

$10,000,000 to $50,000,000.............................. 383 5.72 10.20 94.55

More than $50,000,000..................................... 117 3.85 9.74 96.11

Detailed figures— See Tables 127 and 129, pages 152 and 156.

The proportion of assets criticized by examiners has declined during 

the six years of deposit insurance. The figures for insured commercial 

banks not members of the Federal Reserve System are presented in 

Table 20. Comparable figures for banks members of the Federal 

Reserve System have not been compiled but available data indicate 

similar improvement in quality of assets of those banks. The improvement reflected:

(1) Elimination through suspension, liquidation, or merger of 

some banks which had excessively high proportions of criticized 

assets;

(2) Elimination of criticized assets through charge-off, sale, or 

liquidation;

(3) Improvement in the status of assets through economic recovery;

(4) Acquisition by the banks of substantial amounts of assets of 

sound banking quality.

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Table 20. E x a m i n e r s ’ ANALYSIS OP ASSETS, EXAMINATIONS 1933-1939

INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM

1939 1938

uniform 1

1938

original1

1937 1936 1935 1934 21933

B ook v a lu e ...................... 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Criticized...................... 11.7 14.2 14.1 16.7 17.6 23.7 (3) (s)

Deductions4................ 1.2 1.5 1.7 1.1 1 4 u.i 6.7 10.5

Substandard............... 10.5 12.8 124 h15.6 16.2 19.6 (3) (3)

Not criticized.............. 88.3 85.7 85.9 83.3 82.4 76.3 (3) (s)

1 The differences between the uniform examination procedure and the procedure previously followed 

by the Corporation are discussed in detail in Part Three, pages 61-78, of the Annual Report of the Federal

Deposit Insurance Corporation for the Year Ending December 31, 1938.

2 Examination for admission to insurance in 1933 and early 1934.

3 Not available.

4 Differences between book values and examiners’ appraisals of assets.

5 Includes all fixed assets.

Detailed figures— See Table 137, page 177.

Improvement in quality of different types of assets held by the 

insured commercial banks not members of the Federal Reserve 

System is shown by the figures in Table 21.

Table 21. PROPORTION OF ASSETS NOT CRITICIZED BY EXAMINERS,

E x a m i n a t i o n s 1934-1939

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

1939 1938 1937 1936 1935 1934

Total assets1......................................................... 88%

100

89

87

86%

100

887

84

83%

100

88

81

82%

100

85

75

76%

100

78

68

(2)

100%

(2)

59

Cash and due from banks.................................

Securities...............................................................

Loans and discounts..........................................

1 Prior to 1939, figures for total assets contain errors of as much as 1 percent due to lack of comparability in classification of items included under “ fixed and miscellaneous assets not criticized” . 

The latter item, not shown separately because of lack of comparability, ranged from 35 to 44 percent 

of fixed and miscellaneous assets.

2 Not available.

3 Percentage determined on basis of valuation and classification procedure (“ uniform procedure” ) 

used in latter part of 1938 and in 1939. Percentage would be 88 on basis of valuation and classification 

procedure used prior to 1938.

Analysis of capital accounts. At the time of their 1939 examinations, the insured commercial banks had net sound capital of $6.2 

billion, equal to approximately 95 percent of total capital accounts 

and 10.6 percent of the appraised value of assets. Investment of 

the Reconstruction Finance Corporation in the preferred capital of 

banks amounted to $501 million (retirable value), or 7.7 percent of 

total capital accounts. Net sound private capital amounted to 

9.8 percent of the appraised value of assets.

More than one-fifth of the banks, holding almost three-fifths of 

the deposits in all insured commercial banks, had net sound capital 

of less than 10 percent of the appraised value of assets.1 Ten of these 

banks with deposits of $10 million had no capital at all after ad1 Almost two-fifths of the banks operating branches, holding two-thirds of the deposits of such banks, 

had a net sound capital of less than 10 percent of the appraised value of assets. Nine banks operating 

branches, with deposits of $148 million, had net sound capital of less than 5 percent of the appraised 

value of assets.

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justment for estimated losses and for assets of doubtful value, and 

75 other banks, with deposits of $348 million, had net sound capital 

of less than 5 percent of the appraised value of assets. Thirty of 

the 75 banks had no net sound capital except that represented by 

investment of the Reconstruction Finance Corporation. Approximately 4,700 banks had net sound capital equal to more than 15 

percent of the appraised value of their assets. Distribution of the 

banks according to their capital ratios is shown in Table 22.

Table 22. N u m b e r AND DEPOSITS OF BANKS GROUPED BY N E T SOUND

C a p i t a l R a t i o , E x a m i n a t i o n i n 1939

INSURED COMMERCIAL BANKS

Number of banks Amount of deposits

Total Percentage

distribution

Total (in 

millions of 

dollars)

Percentage

distribution

All banks.................................................................................. 13,505 100.0% 50,977 100.0%

Banks with net sound capital per $100 of

appraised value of assets of—

$0.00 or less.......................................................................... 10 .1 10 .0

$0.01 to $4.99....................................................................... 75 .6 348 .7

$5.00 to $9.99....................................................................... 2,799 20.7 29,337 57.6

$10.00 to $14.99................................................................... 5,958 44.1 16,345 32.1

$15.00 to $19.99................................................................... 2,900 21.5 3,376 6.6

$20.00 to $24.99................................................................... 1,119 8.3 871 1.7

$25.00 or more...................................................................... 644 4.7 690 1.3

Detailed figures— See Tables 134-35, pages 174-75.

In general, the small banks had higher ratios of net sound capital 

to appraised value of assets than did the large banks. Among the 

3,000 banks with deposits of less than $250,000, fewer than onetwentieth had a ratio of net sound capital to appraised value of 

assets of less than 10 percent, and one-third had a ratio of 20 percent 

or more. Among the 500 banks with deposits of more than $10 

million, about three-fifths had a ratio of net sound capital to appraised 

value of assets of less than 10 percent, and only 13 banks had a ratio 

of 20 percent or more. Deposits of these large banks with net sound 

capital ratios of less than 10 percent amounted to $25 billion. The 

distribution of number and deposits of insured commercial banks, 

grouped according to net sound capital ratio and by fixed and 

substandard assets ratio, by rate of average net earnings, and by 

deposits are shown in Tables 134 and 135, pages 174 and 175. Averages for the size groups are shown in Table 19.

The failure of capital accounts to increase significantly while total 

assets were increasing rapidly has resulted in a reduction in the capital 

ratios of the banks during the past two years. The proportion of 

banks with net sound capital of less than 5 percent of total deposits

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continues to be smaller than in the early years of deposit insurance. 

However, the proportion with net sound capital of 10 percent or 

more, while higher than at the time of admission of the banks to 

insurance in 1933 and early 1934, was lower in 1939 than in any of 

the early years of deposit insurance.1 Figures for insured commercial 

banks not members of the Federal Reserve System are presented in 

Table 23. Data for banks members of the Federal Reserve System 

are not available for the earlier years. Available information indicates, however, that the data for those banks would show a somewhat similar trend.

Table 23. PERCENTAGE DISTRIBUTION OF BANKS ACCORDING TO

R a t io o f N e t S o u n d C a p it a l t o D e p o s it s, E x a m in a t io n s 1933-1939

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

1939 1938

uniform 1

1938

original1

1937 1936 1935 1934 21933

All banks.............................. 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Banks with net sound

capital per $100 of

deposits of—

$0.00 or less....................... .1 .1 .5 .2 .3 .5 .6 10.0

$0.01 to $4.99.................... .6 .5 1.8 .9 .9 1.6 1.9 9.6

$5.00 to $9.99.................... 12.4 12.1 14.0 13.8 10.0 10.9 10.5 14.9

$10.00 or m ore................... 86.9 87.3 83.7 85.1 88.8 87.0 87.0 65.5

1 The differences between the uniform examination procedure and the procedure previously followed 

by the Corporation are discussed in detail in Part Three, pages 61-78, of the Annual Report of the Federal

Deposit Insurance Corporation for the Year Ending December 31, 1938.

2 Examination for admission to insurance in 1933 and early 1934.

Earnings of Insured Commercial Banks

Annual gross current operating earnings of insured commercial 

banks increased over the six-year period, 1934-1939. Expenses 

increased only slightly over the period and net current operating 

earnings and net profits were higher in the later years than in the 

early years of deposit insurance. The amounts of earnings, expenses, 

profits, and dividends, of insured commercial banks for the six years 

1934-1939 are given in Table 24.

Current operating earnings. The growth in earnings over 

the six-year period reflected larger amounts of income from loans, 

from fees and service charges, and from miscellaneous current operations. Current income from loans continued to constitute the most 

important source of income to banks, amounting to nearly half 

of gross current operating earnings. Sources of earnings in 1939 

were as follows:

1 The ratio of net sound capital to total deposits is used for historical comparisons because distributions of banks according to the ratio of net sound capital to the appraised value of assets are not available for the earlier years.

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Income from loans.............................................. 45 percent

Interest and dividends on securities.................. 32 percent

Fees and service charges.................................... 8 percent

Other current operating earnings....................... 15 percent

Table 24. E a r n i n g s , E x p e n s e s , a n d D i v i d e n d s , 1934-1939

in s u r e d c o m m e r c ia l b a n k s

(Amounts in millions of dollars)

1939 1938 1937 1936 1935 1934

Gross current operating earnings......................

Total current operating expenses.....................

1,603

1,153

1,582

1,153

1,631

1,160

1,564

1,122

1,483

1,081

1,516

1,115

Net current operating earnings___ 450 429 471 442 402 401

Profits on assets sold, recoveries on assets, etc. 

Losses, charge-offs, etc........................................

381

438

329

454

309

395

584

501

432

627

292

1,032

Net profits after income taxes1. . . . 388 300 380 523 207 2-339

Cash dividends declared and interest paid on 

capital.................................................................. 232 222 225 223 207 188

Net profits after dividends................ 156 78 155 300 2-527

1 Income taxes are not included under total current operating expenses by banks not members of the 

Federal Reserve System, except in 1934 and 1935. These banks paid income taxes of $2.4 million in 1936, 

$4.8 million in 1937, $4.3 million in 1938, and $4.6 million in 1939.

2 Net loss.

Detailed figures— See Table 140, page 180.

The amount of interest and dividends received on securities was 

lower in 1938 and in 1939 than in any of the preceding four years. 

The rate of income on securities has shown a steady decline since 

1934, amounting to a total reduction of three-quarters of 1 percent. 

The decline reflected a reduction in long-term interest rates and 

increased concentration in holdings of those securities which have the 

lowest yields—obligations issued by or guaranteed by the United 

States Government and obligations issued by States and other 

political subdivisions. Computed average rates of interest received 

on loans and on securities and paid on time and savings deposits for 

the years 1934-1939 are shown in Table 25.

Income from fees and service charges increased from year to year 

and is estimated to be greater in 1939 than in any other year. Income from service charges on deposit accounts in 1939 was about 

twice the amount reported for 1934. Most of this latter increase 

may be attributed to the initial adoption during the period of service 

charges by some banks and imposition of higher rates of charges by 

others.

Income on loans. The average rate of gross income on loans 

declined from 1934 to 1937 and increased gradually thereafter. The 

average rate in 1939 was 4.5 percent, the highest since 1934. The 

figures are shown in Table 25. The increase in average rate of income

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EARNINGS OF INSURED COMMERCIAL BANKS 53

on loans did not reflect increases in rates of interest charged customers 

but a more rapid expansion in loans upon which rates are customarily 

higher, than in loans upon which rates are customarily lower, than 

average.

Table 25. INTEREST RECEIVED ON LOANS AND ON SECURITIES 

AND INTEREST PAID ON T lM E AND SAVINGS DEPOSITS, 1934-1939

INSURED COMMERCIAL BANKS

1939 1938 1937 1936 1935 1934

Interest and discount on loans per $100 of 

loans................................................................. $4.46 $4.36 $4.28 $4.34 $4.40 $4.63

Interest and dividends on securities per $100 

of securities.................................................... 2.38 2.56 2.68 2.66 2.87 3.17

Interest paid per $100 of time and savings 

deposits........................................................... 1.43 1.55 1.62 1.72 2.01 2.40

As a rule, the banks with high net earnings in 1938 and 1939, 

chiefly the smaller country banks, reported higher rates of income 

on loans and a higher proportion of assets in the form of loans than 

did the banks with low net earnings. In many localities and regions, 

custom and an absence of competitive sources of credit for customers 

combine to maintain rates materially higher than those quoted in 

the centers most affected by extreme monetary ease. The higher 

average rate of income on loans can be attributed only in part, 

however, to geographical differences in the level of interest rates. 

A large part of the difference in rates must be attributed to differences 

in the character of the loans made. A very substantial portion—if 

not the majority—of the banks whose average rates of income on 

loans are materially above the average rates received by other banks 

are banks most of whose loans are small. These loans seldom exceed 

$300 or $400 each; most of them are for less than $100, and many 

are for less than $50. While many of these loans are extended to 

farmers, merchants, and small manufacturers, and are for productive 

purposes, they would be handled in a large city bank, if at all, through 

a personal loan department and would constitute a very small part 

of the total volume of business of such a bank. This type of business 

is also handled in many places by personal finance and industrial 

loan companies. As such loans are for small amounts and often are 

repaid on an installment basis, they are frequently subject to minimum 

charges and charges other than interest. These charges are included 

in the gross income on loans. Gross rates of income on loans of the 

banks engaged predominantly in this type of business, while high in 

comparison with rates quoted on prime commercial paper in the 

important money markets, do not appear to be higher than those

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received by personal loan departments of large city banks or by 

institutions other than banks engaged in the same kind of business. 

The distribution of insured commercial banks according to rate of 

net earnings in 1939, and by rate of income on loans, and by ratio 

of loans to total assets, is presented in Table 145, page 187.

Current operating expenses. Expenses of the banks increased 

slightly over the six-year period. Notwithstanding a substantial 

growth in the volume of time and savings deposits, the amount of interest paid depositors was reduced considerably and constituted less 

than 20 percent of current operating expenses in 1939, compared with 

30 percent in 1934. The decline in amount of interest paid on deposits 

was offset by larger amounts disbursed for salaries and wages, taxes, 

and other current operating expenses.

Interest on time and savings deposits. The average rate 

of interest paid on time and savings deposits declined in 1939, as in 

each of the preceding years since 1934, and for the later year amounted 

to about 1.4 percent of average time and savings deposits.1 Figures 

are presented in Table 25.

Rates paid varied considerably from bank to bank. The variation 

appeared to reflect the banks' abilities to pay interest. In general, 

the banks which paid the highest rates of interest on time and savings 

deposits were the banks which showed the best earnings, while the 

banks which paid the low rates were those with low rates of earnings. 

The banks which paid the higher rates of interest were generally 

the banks with the greater proportion of assets in the form of loans 

upon which good rates of income were obtained. They paid relatively high rates of interest on deposits apparently because it was 

worth their while to do so; for the most part, they were the small 

banks or banks in small communities. The lowest rates of interest 

paid on time and savings deposits were found in the larger cities 

where interest rates generally were very low and where service charges, 

fees, and rates of interest on deposits were regulated by clearing 

house agreements.

The distribution of insured commercial banks according to the 

rate of interest on average time and savings deposits and by rate 

of net earnings in 1939, by rate of income on loans, and by ratio 

of loans to total assets, is presented in Table 146, page 188. The 

distribution of insured commercial banks according to the rate of 

interest paid on average time and savings deposits and by ratio of

1 The “ rate of interest on time and savings deposits” is the ratio of reported interest payments to the 

average of the amount of time and savings deposits reported on the call dates each year. This computed 

rate is usually less than the announced rate in most banks, because of the methods used in computing 

interest. It is always less than the maximum announced rate, when rates are varied according to type, 

maturity, or size of deposit. The computed rate also varies from announced rates to the extent that the 

balance upon which interest is actually calculated by the bank differs from the average amount of the 

deposit.

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EARNINGS OF INSURED COMMERCIAL BANKS 55

time and savings deposits to total deposits, by amount of deposits, 

and by population of center in which located, is presented in Table 

147, page 189.

Net current operating earnings. Net current operating earnings 

of insured commercial banks were higher in the last half than in the 

first half of the six-year period, 1934-1939.

The increase in net earnings was not so great as the growth in 

total assets, and the rate of earnings on assets was lower at the close 

than at the beginning of the period. However, the increase in net 

earnings was greater relatively than the increase in total capital 

accounts, and the amount of net earnings per $100 of total capital 

accounts showed a net gain over the period. Net earnings and net 

profits for each $100 of total assets and of total capital accounts are 

shown for each of the six years, 1934-1939, in Table 26.

Table 26. RATES OF N E T EARNINGS, N E T PROFITS, AND DIVIDENDS, 1934-1939

INSURED COMMERCIAL BANKS

Net earnings Net profits

Dividends 

per $100

of total 

capital 

accounts

Per $100 

of total 

assets

Per $100 

of total 

capital 

accounts

Per $100 

of total 

assets

Per $100 

of total 

capital 

accounts

1939...................................................................... $0.75 $6.94 $0.65 $5.98 $3.58

1938...................................................................... .78 6.70 .54 4.68 3.47

1937...................................................................... .86 7.40 .69 5.97 3.54

1936...................................................................... .83 7.05 .98 8.35 3.56

1935...................................................................... .84 6.51 .43 3.35 3.36

1934...................................................................... .89 6.48 1-0.75 1-5.48 3.03

1 Net loss.

Of the 13,339 insured commercial banks for which comparable 

information is available for the full year 1939, about 1 percent reported 

expenses in excess of gross current operating earnings for that year, 

and an additional 17 percent reported net earnings of less than $5.00 

per $100 of total capital accounts. Approximately 39 percent of 

the banks reported net earnings of more than $10.00 on each 

$100 of total capital accounts. Percentage distributions of insured 

commercial banks according to rate of net earnings and of net profits 

on total capital accounts in 1938 and 1939 are shown in Table 27. 

The distribution of insured commercial banks according to rate of 

net earnings on total assets in 1939, and by amount of deposits, by 

population of center in which located, and by number of banking 

offices in center in which located, is presented in Table 142, page 184.

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In 1939, as in preceding years, the proportion of banks with high 

rates of net earnings on total assets was higher, and the proportion 

of banks with low rates of net earnings and with net deficits was 

lower, among the smaller banks. The same relationship existed with 

respect to the rate of net profits on total assets. This relationship 

is to be attributed to the tendency among the smaller banks to 

hold a larger proportion of total assets in the form of loans and to 

receive a higher average rate of income on loans than do larger banks. 

The smaller banks are, in general, located in the smaller centers, and, 

to a considerable extent, in agricultural rather than industrial sections 

of the country.

In recent years the banks which reported net operating deficits 

were generally the banks in which substandard asset ratios were 

high and examiners' deductions were large; substandard asset ratios 

were lower in the banks with net earnings. Among the latter there 

was a slight, though not marked, tendency for the substandard asset 

ratios to be higher in the banks with high net earnings than in the 

banks with low net earnings. The tendency was particularly marked 

in the case of securities but was not evident in the case of loans. 

Detailed figures with respect to examiners' analysis of assets of insured 

commercial banks, examined in 1939, grouped by rate of average 

net earnings on total assets, are presented in Tables 130 and 131, 

pages 158 to 165.

Net profits. During the first year of deposit insurance, banks 

reported heavy net losses because they made substantial charge-offs 

of assets considered to be worthless. With the elimination of these 

assets, charge-offs declined and net profits tended to increase. Fluctuations in net profits were substantial from year to year, however, 

reflecting, in part, fluctuations in profits and losses on securities 

arising from the efforts of many banks to supplement operating 

income by speculating on price fluctuations in the bond market, 

chiefly in high-grade bonds. In 1936, net profits of the banks reached 

a high level for the six-year period as a result of unusually large 

profits and recoveries on securities. In 1937 and 1938, net profits 

declined substantially as losses on securities increased, while the 

amount of recoveries on securities and of profits from security trading 

was greatly reduced. In 1939, profits on securities increased substantially and net profits of the banks were higher than in any other 

year of deposit insurance except 1936.

After making allowance for charge-offs and recoveries on assets 

and for payment of income taxes, 9 percent of the insured commercial 

banks operating throughout the year reported net losses, and an 

additional 26 percent reported net profits of less than $5.00 on each 

$100 of total capital accounts. About 28 percent reported net profits

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EARNINGS OF INSURED COMMERCIAL BANKS 57

of more than $10.00 on each $100 of total capital accounts. The 

figures are shown in Table 27.

Table 27. PERCENTAGE DISTRIBUTION OF BANKS ACCORDING TO RATE OF N E T

E a r n i n g s a n d o f N e t P r o f it s o n T o t a l C a p i t a l A c c o u n t s , 1939 a n d 1938

INSURED COMMERCIAL BANKS

Net earnings Net profits

1939 1938 1939 1938

All banks1................................................................................ 100.0% 100.0% 100.0% 100.0%

Banks with net earnings (net profits) per $10C

of total capital accounts of— 2

$ -10.00 or more................................................................... .0 .0 1.6 3.3

$-5.00 to $-9.99................................................................... .1 .1 1.8 3.4

$-0.01 to $-4.99................................................................... .9 1.1 6.0 9.3

$0.00 to $4.99....................................................................... 16.6 16.3 25.6 29.3

$5.00 to $9.99....................................................................... 43.3 42.9 36.9 32.0

$10.00 to $14.99................................................................... 26.2 25.5 19.4 15.4

$15.00 to $19.99................................................................... 9.2 10.1 6.2 5.2

$20.00 or m ore...................................................................... 3.7 4.0 2.5 2.1

1 Excludes new banks and banks submitting reports covering less than the full year’s operations or 

materially affected by mergers.

2 Total capital accounts are average of figures for four call dates for banks members of the Federal 

Reserve System, and of figures for three call dates for banks not members of the Federal Reserve System.

Net profits exceeded net earnings in about one-sixth of the banks, 

were approximately the same as net earnings in over one-third 

of the banks, and were less than net earnings in about one-half of the 

banks. The distribution of insured commercial banks according to 

rate of net earnings and by rate of net profits in 1939, is presented 

in Table 144, page 186. The distribution of insured commercial 

banks according to rate of net profits on assets in 1939 and by 

amount of deposits, by population of center in which located, and 

by number of commercial banking offices in center in which located, 

is presented in Table 143, page 185.

Interest and dividends on preferred and common capital have 

been relatively stable for the past four years, averaging about 3.5 

percent of total capital accounts and about 7.5 percent of preferred 

and common capital. Figures are shown in Table 26.

I n su r e d M u t u a l Sa v in g s B a n k s

On December 31, 1939, the Federal Deposit Insurance Corporation 

was insuring deposits in 51 mutual savings banks, as compared with 

48 at the end of the preceding year. Four operating banks, with 

deposits of $370 million, were admitted to insurance, while one 

institution, with deposits of $1.6 million, was absorbed by an insured 

commercial bank with the financial aid of the Corporation. The 

51 banks were located in 12 States.

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58 FEDERAL DEPOSIT INSURANCE CORPORATION

Total deposits in the 51 banks amounted to $1.4 billion, of which 

about 90 percent were estimated to be protected by insurance. Of 

these banks, 16 had deposits of more than $10 million each. The 

four largest banks held 54 percent of the deposits in the 51 banks.

Owing to the small number of banks, the data relating to the 

insured mutual savings banks may not be characteristic of the condition and operations of all mutual savings banks in the country. 

Consolidated statements of assets, liabilities, and capital accounts 

of both insured and noninsured mutual savings banks are presented 

in Table 116, pages 125 and 127. Figures showing earnings, expenses, 

and disposition of profits of insured mutual savings banks are presented in Table 155, page 204.

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Federal Reserve Bank of St. Louis
PART THREE

SPECIAL REPORTS

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Sp e c i a l R e p o r t s

It is the policy of the Corporation to present in this section special 

studies prepared for the administrative use of the Corporation but 

which also possess general interest. No such studies are available 

for publication at this time.

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Federal Reserve Bank of St. Louis
PART FOUR

LEGISLATION AND REGULATIONS

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D e p o s i t I n s u r a n c e L e g i s l a t i o n

REPEAL OF PROVISION REQ U IRIN G CERTAIN INSURED BANKS

TO BECOME M EM BERS OF THE FEDERAL RESERVE SYSTEM

[P u b l ic— No. 135— 76th Congress]

[Chapter 214— 1st Session]

[S. 1886]

AN ACT

To extend to June 16, 1942, the period within which certain loans to executive

officers of member banks of the Federal Reserve System may be renewed or

extended.

Be it enacted by the Senate and House of Representatives of the United States of

America in Congress assembled, That the first sentence of subsection (g) of section 22

of the Federal Reserve Act, as amended (U. S. C., title 12, sec. 375a), is amended

to read as follows:

“ (g) No executive officer of any member bank shall borrow from or otherwise

become indebted to any member bank of which he is an executive officer, and no

member bank shall make any loan or extend credit in any other manner to any of

its own executive officers: Provided, That loans made to any such officer prior to

June 16, 1933, may be renewed or extended for periods expiring not more than five

years from June 16, 1939, where the board of directors of the member bank shall

have satisfied themselves that such extension or renewal is in the best interest

of the bank, and that the officer indebted has made reasonable effort to reduce his

obligation, these findings to be evidenced by resolution of the board of directors

spread upon the minute book of the bank: Provided further, That with the prior

approval of a majority of the entire board of directors, any member bank may extend

credit to any executive officer thereof, and such officer may become indebted thereto,

in an amount not exceeding $2,500.”

Sec. 2. Paragraph (1) of subsection (y) of section 12B of the Federal Reserve

Act, as amended, is hereby repealed and paragraph (2) of said subsection is amended

by striking out “ (2)” at the beginning of said paragraph.

Approved, June 20, 1939.

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66 FEDERAL DEPOSIT INSURANCE CORPORATION

C o n g r e s s i o n a l S t u d y o f N a t i o n a l M o n e t a r y a n d

B a n k i n g P o l i c y

S. RES. 125

[76th C o n g r e s s , F ir s t Se s s io n ]

RESOLUTION

Resolved, That the Committee on Banking and Currency is authorized to conduct

a study and to hold hearings to consider and recommend a national monetary and

banking policy by which the monetary and banking authorities of the Federal

Government shall be guided and governed, and to consider and recommend the

character of governmental machinery best calculated to carry out such policy.

The committee shall report to the Senate as soon as practicable the results of its

study, together with its recommendation for the enactment of any legislation it

may deem necessary.

S e c . 2. (a) For the purposes of this resolution the committee, or any duly authorized subcommittee thereof, is authorized to hold such hearings, to sit and act

at such times and places during the sessions and recesses of the Senate in the Seventysixth Congress and subsequent Congresses as it deems advisable.

(b) The committee is likewise authorized to call upon any of the agencies of the

Government to present evidence with respect to the subject matter of this inquiry

which is within the administrative jurisdiction of such agency under existing law

or which may be assigned to such agency by the committee.

(c) The committee or any duly authorized subcommittee thereof is authorized

to employ such experts, and clerical, stenographic, and other assistants and to take

such testimony and make such expenditures as it deems advisable. The cost of

stenographic services to report such hearings as may be held shall not be in excess

of 25 cents per hundred words. The expenses of the committee which shall not

exceed $25,000 shall be paid from the contingent fund of the Senate upon vouchers

approved by the chairman of the committee.

Approved, August 4, 1939.

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LEGISLATION AND REGULATIONS 67

R e g u l a t i o n s o f t h e C o r p o r a t i o n

PART 305— RECOGNITION OF DEPOSIT OWNERSHIP NOT ON

BANK RECORDS

Rulings and regulations of the Corporation regarding the recognition for deposit

insurance purposes of certain bank obligations, as adopted on October 1, 1935,

May 20, 1937, and July 1, 1938, were amended May 3, 1939, and became, respectively, Parts 305.1, 305.2, and 305.3 of Chapter III, Title 12, of the Code of Federal

Regulations. On June 20, 1939, the Board of Directors of the Corporation by

resolution added, and on December 13, 1939, amended Section 305.4 to Part 305

of the regulations. Regulation 305, as amended, is as follows:

Section 305.1 Deposits evidenced by negotiable instruments. If any

insured deposit obligation of a bank be evidenced by a negotiable certificate of

deposit, negotiable draft, negotiable cashier’s or officer’s check, negotiable certified

check or negotiable traveler’s check or letter of credit, the owner of such deposit

obligation will be recognized for all purposes of claim for insured deposits to the

same extent as if his name and interest were disclosed on the records of the bank

provided the instrument was in fact negotiated to such owner prior to the date

of the closing of the bank. Affirmative proof of such negotiation must be offered

in all cases to substantiate the claim.

305.2 Deposit obligations for payment of items forwarded for collection

by bank acting as agent. Where a closed bank has become obligated for the

payment of items forwarded for collection by a bank acting solely as agent the owner

of such items will be recognized for all purposes of claim for insured deposits to the

same extent as if his name and interest were disclosed on the records of the bank

when such claims for insured deposits, if otherwise payable, have been established

by the execution and delivery of prescribed forms. Such bank forwarding such

items for the owners thereof will be recognized as agent for such owners for the

purpose of making an assignment of the rights of such owners against the closed

insured bank to the Federal Deposit Insurance Corporation and for the purpose

of receiving payment on behalf of such owners.

305.3 Deposits of public officers. The owner of any portion of a deposit

appearing on the records of a closed bank under the name of a public official, state,

county, city, or other political subdivision will be recognized for all purposes of

claim for insured deposits to the same extent as if his name and interest were disclosed on the records of the bank: Provided, That the interest of such owner in the

deposit is disclosed on the records maintained by such public official, state, county,

city or other political subdivision and, Provided further, That such records have

been maintained in good faith and in the regular course of business.

305.4 Deposits of approved Federal Housing Administration mortgagees.

The owner of any portion of a deposit representing payments made under mortgages

insured by the Federal Housing Administrator and appearing on the records of

a closed bank under the name of an approved Federal Housing Administration

mortgagee or its agent will be recognized for all purposes of claim for insured deposits to the same extent as if his name and interest were disclosed on the records

of the bank: Provided, That the interest of such owner in the deposit is disclosed

on the records maintained by such mortgagee or its agent and, Provided further,

That such records have been maintained in good faith and in the regular course

of business.

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68 FEDERAL DEPOSIT INSURANCE CORPORATION

PART 307— INSURANCE OF TRUST FUNDS

On July 8, 1939, the Corporation adopted a resolution regarding the insurance

of trust funds which became Part 307 of Chapter III, Title 12, of the Code of Federal

Regulations. This resolution is given below:

Section 307.1 Claim by fiduciary insured bank for insured deposits of

trust estates. In the event of the closing of an insured bank for inability to meet

the demands of its depositors, the claim for insured deposits made by a fiduciary

insured bank which, in the exercise of its trust powers, had deposited trust funds

therein will be determined as follows:

(a) Allocated funds of a trust estate. If trust funds of a particular trust

estate are allocated by the fiduciary and deposited, the deposit with respect to such

estate will be determined by ascertaining the amount of its funds allocated, deposited

and remaining to the credit of the claimant as fiduciary in the closed insured bank.

(b) Interest of a trust estate in unallocated trust funds. If trust funds

of a particular trust estate be mingled1 with trust funds of other trust estates and

deposited by the fiduciary bank in one or more banks to the credit of the depositing

bank as fiduciary, without allocation of specific amounts from the particular trust

estate to an account in such bank or banks, the deposit with respect to such estate

in any closed insured bank will be the amount which will bear the same ratio to all

unallocated funds of the estate for which the fiduciary is accountable as the entire

unallocated trust funds to the credit of the fiduciary bank in the closed insured

bank will bear to the entire amount of such funds so deposited by the fiduciary in

all depositories.2

(c) Claims for funds of corporate trusts determined on basis of allocation.

The rule stated in paragraph (b) hereof will not be applied to funds of an insured

bank held as fiduciary under a type of trust created to facilitate the issuance,

distribution, or servicing of corporate bonds, debentures or stock issues, commonly

known as corporate trusts. The claim of the fiduciary bank with respect to deposits

of such funds will be determined according to allocations of the funds of particular

estates to particular deposit accounts.

(d) Insured deposit of a trust estate. In arriving at the total insured deposit

of an insured fiduciary bank with respect to any trust estate, the deposit of such

estate as determined in accordance with any paragraph hereof shall be combined

with that determined under any other paragraph and the insured deposit shall

be the total less any amount thereof in excess of $5,000.

1 This Section is not to be construed as an express or implied approval of such commingling of trust 

funds as may be involved in the maintaining of general trust accounts.

2 In determining claims under this paragraph, unallocated trust funds in the insured fiduciary 

bank will be included in the totals of such funds.

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Federal Reserve Bank of St. Louis
PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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E X P L A N A T O R Y NOTES

Sources of Data

Data relating to national banks and State banks in the District of Columbia

were obtained from the Comptroller of the Currency or the Board of Governors

of the Federal Reserve System, and data relating to State banks members of the

Federal Reserve System from the Board of Governors of the Federal Reserve

System, with the following exceptions: (1) capital investment of the Reconstruction

Finance Corporation in banks members of the Federal Reserve System, which

was obtained from that Corporation; (2) analysis of examinations, the data of which

were compiled by this Corporation from reports submitted by the Comptroller

of the Currency and the Board of Governors of the Federal Reserve System and

reviewed by the Corporation; and (3) data relating to suspensions, receiverships,

and mergers with aid of loans from the Federal Deposit Insurance Corporation,

which were obtained from the records of the Corporation.

Data relating to insured banks not members of the Federal Reserve System were

obtained from the banks themselves or from the records of the Federal Deposit

Insurance Corporation.

Data relating to noninsured banks were obtained from the Board of Governors

of the Federal Reserve System, State banking authorities, Rand McNally Bankers

Directory, and Polk’s Bankers Encyclopedia.

Classification of Banks and Banking Offices

Insured banks include all operating banks insured by the Federal Deposit

Insurance Corporation; noninsured banks include all banks not so insured.

Commercial banks include the following categories of banks:

All operating national banks;

All incorporated State banks, trust companies, and banks and trust companies, regularly engaged in the business of receiving deposits, whether demand

or time, except mutual savings banks and, in New Hampshire, guaranty

savings banks;

All stock savings banks, excluding guaranty savings banks in New

Hampshire;

Banks in conservatorship or operating under restrictions, provided they

are authorized to and in fact do accept new deposits, regardless of the character of the restrictions imposed on the operations of the bank;

Such industrial and Morris Plan banks as operate under general banking

codes or operate under the same codes of law as insured industrial banks;

Branches of foreign banks which engage in a general deposit business;

Cash depositories;

Private banks under State supervision, and such other private banks as

are reported by reliable unofficial sources to be engaged in deposit banking;

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72 FEDERAL DEPOSIT INSURANCE CORPORATION

All insured trust companies, even though not engaged in regular deposit

banking;

Branches of American and foreign banks maintained in the possessions

to do a general deposit business. (Where more than one branch is maintained

by a given bank in any one possession the chief or central office is classified

as a bank and the other offices as branches).

Mutual savings banks include all banks operating under special State banking

codes applying to mutual savings banks, including all guaranty savings banks in

New Hampshire.

Branches include all offices, other than head offices, of banks operating more

than one office at which deposits are received or checks cashed, and all offices,

other than head offices, of insured trust companies not engaged in deposit banking.

The term “ branch” is used in accordance with the definition in paragraph (15),

subsection (c) of section 12B of the Federal Reserve Act, as amended, which is

as follows:

“ The term ‘branch’ includes any branch bank, branch office, branch

agency, additional office, or any branch place of business located in any

State of the United States or in Hawaii, Alaska, Puerto Rico, or the

Virgin Islands at which deposits are received or checks paid or money

lent.”

Figures for operating banks do not include institutions in the following categories,

though such institutions may perform many of the same functions as banks:

Banks which have suspended operations or have ceased to accept new

deposits and are proceeding to liquidate their assets and pay off existing

deposits, regardless of the amount of deposit liability still remaining and

regardless of whether they are listed among operating banks or included in

abstracts of condition of banks published by State banking authorities;

Building and loan associations, savings and loan associations, credit unions,

personal loan companies, and similar institutions, chartered under special

laws applying to such institutions or under general incorporation laws, regardless of whether such institutions are authorized to accept deposits from

the public or from their members and regardless of whether such institutions

are called “ banks;”

Noninsured Morris Plan companies, industrial banks, loan and investment

companies, and similar institutions, not operating under general State banking

codes, or under the same codes of law as similar institutions which have been

admitted to insurance;

Noninsured trust companies not engaged in receiving deposits from the

general public, regardless of whether they are listed among banks or included

in abstracts of condition of banks published by State banking authorities;

Branches of foreign banks, and of private banks, which confine their business

to foreign exchange dealings and do not receive “ deposits” as that term is

commonly understood;

A few special institutions chartered under general banking laws, but operating as mortgage or investment companies and not engaged in deposit banking;

Federal Reserve banks and other banks, such as the Savings and Loan

Bank of the State of New York, which operate as rediscount banks and do

ot accept deposits from the general public.

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EXPLANATORY NOTES 73

Deposits of Banks and Banking Offices

Operating insured banks. Deposit data for operating insured banks are

obtained from two separate sources. (1) Deposit figures in Tables 111 to 122,

inclusive, and used for classifying insured banks by size groups in Tables 105 to

109, inclusive, are from reports of condition submitted by the banks for the dates

indicated; and deposit figures in Tables 149 to 154, inclusive, are averages of the

figures from reports of condition for call dates. (2) Deposit figures in Tables 126

to 135, inclusive, and in Table 139, summarizing the reports of examinations of

banks, are for the respective dates on which each bank was examined.

Deposit liabilities reported on certified statements for assessment purposes

include, in addition to the deposits shown on reports of condition, outstanding

drafts and uninvested trust funds held in the bank’s own trust department, and

exclude a portion of cashiers’ and officers’ checks outstanding. It is estimated

that total deposit liabilities for assessment purposes exceed total deposits shown

on reports of condition by less than 2 percent. Deposits shown in reports of

examination are defined in the same way as those shown on reports of condition.

In adjusting figures for examiners’ appraisals, deposit liabilities not shown on the

banks’ books are added to deposits shown on the books.

Offices of insured banks operating branches. Deposits for branches and

head offices of banks operating branches in Table 111, and used in classifying such

offices by size in Table 105, are from special reports by banks operating branches.

Total deposits for each branch system correspond to the deposit figure shown on the

bank’s report of condition.

Noninsured banks. Deposits of noninsured banks are from published figures

or from reports received from State banking authorities, and are based on reports

of condition submitted by the banks to State authorities or to bankers’ directories.

Figures refer to June 30 and December 31 or nearest available dates.

Figures for branches and head offices of noninsured banks operating branches

are not available separately.

Suspended and merged banks and banks in receivership. Deposit figures

for insured banks in Tables 156 to 166, inclusive, relating to suspensions, receiverships, and mergers with the aid of loans from the Corporation, are from the records

of the Corporation with respect to such banks, and refer to the date of suspension

or merger. Deposits for banks in receivership as shown by the books of the Corporation, December 31,1939, given in Tables 167 and 168, inclusive, differ from those

shown by books of bank at date of suspension given in Table 166 because of reclassification of liabilities and discovery of additional liabilities during liquidation.

Assets and Liabilities of Operating Banks

Figures relating to assets and liabilities of insured banks, in Tables 116 to 122,

inclusive, are from reports of condition submitted to the Federal supervisory authorities by the banks: to the Comptroller of the Currency by national banks,

to the Board of Governors of the Federal Reserve System by State banks members

of that system, and to the Federal Deposit Insurance Corporation by insured

State banks not members of the Federal Reserve System. The form and manner

of reporting is uniform for the three classes of banks.

Assets and liabilities of noninsured banks are from published figures or from

reports received from State banking authorities, and are based on reports of condition submitted by the banks to State authorities or to bankers’ directories.

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74 FEDERAL DEPOSIT INSURANCE CORPORATION

Examiners’ Analysis of Insured Banks

Tables 126 to 135, inclusive, relating to the examiners’ analysis of assets and

capital of insured banks, contain detailed data with respect to all insured commercial

banks in 1939, on a basis comparable to those presented for insured commercial

State banks not members of the Federal Reserve System only in preceding years.

Figures relating to the banks not members of the Federal Reserve System covering

the period 1933 to 1939 are presented in Tables 136 to 139, inclusive. The examination procedures of the Federal bank supervisory authorities and of numerous

State banking authorities were revised in 1938 so that data for 1939 are not strictly

comparable with data for 1937 and earlier years. Data for insured commercial

State banks not members of the Federal Reserve System are shown for 1938 on

both the original and the uniform or revised basis.1

Data are derived from the reports of examination made by the Comptroller of

the Currency in the case of national banks, by the Federal Reserve banks in the

case of State banks members of the Federal Reserve System, and by the Federal

Deposit Insurance Corporation in the case of State banks not members of the Federal

Reserve System. The tabulations were prepared from examinations available

for tabulation during the year and not from all examinations made during the year.

In cases in which 1939 examinations were not made or were not available, figures

for banks examined in the closing months of 1938 were included in the 1939 tabulations. Figures for about 100 banks operating during the year were not included

in the tabulations, since reports of examination were, for various reasons, not available for tabulation.

The principal terms and methods of adjustment used, under the uniform procedure, in the tables relating to examiners’ analyses of bank assets and capital

accounts are described below.

Book value, applied to total assets, loans, securities, and fixed and miscellaneous

assets, refers to the values (net, after deduction of valuation allowances) carried

by each bank on its books at the time of examination.

Appraised value of total assets, loans, securities, and fixed and miscellaneous

assets, represents the value of assets as determined by the examiners. For explanation of method of valuing securities see the Annual Report of the Federal

Deposit Insurance Corporation for the year ending December 31,1938, pages 64 to 68.

The term “ appraised value” corresponds in meaning to the term “ adjusted value”

used in the Annual Report of the Corporation for 1938, and to the term “net

sound value” used in the Annual Reports of the Corporation for 1935 and 1934.

Examiners’ deductions (net) from assets represent the amount by which

the examiners’ evaluation of each bank’s assets is less than the value carried by the

bank on its books.

The deductions are derived from the examiners’ evaluation of the assets classified

on the basis of eventual collectibility. In the case of assets other than securities,

the examiner deducts: (1) the amount of, or the portion of, loans and other assets

regarded, for reasons which he sets forth, as worthless or uncollectible, and (2)

one-half of the amount of, or the portion of, loans and other assets regarded as

of doubtful worth or collectibility. In the case of securities, the examiner deducts:

(1) the amount by which the book value (less valuation allowances) exceeds the

market value of stocks and defaulted securities; (2) one-half of the amount by which

1 For a discussion of the differences between the uniform procedure and the procedure previously 

followed by the Corporation in analyzing and valuing assets in examination reports, see the Annual Report

of the Federal Deposit Insurance Corporation for the year ending December 31, 1938, pages 61 to 78.

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EXPLANATORY NOTES 75

the book value (less valuation allowances) of substandard securities exceeds the

average of market prices over the 18-months preceding the month of examination;

and (3) the amount by which book value (less valuation allowances) exceeds cost

less amortization of other (uncriticized) securities. The amounts of the deductions

are reduced by the determinable sound values of assets not shown on the books.

Examiners’ deductions (net) from total capital accounts represent the

amount by which the examiners’ evaluation of each bank’s total capital accounts

(net worth) is less than the value carried by the bank on its books. It exceeds

examiners’ deductions (net) from assets by the amount of determinable liabilities

not shown on the books.

Substandard, applied to total assets, loans, securities, and fixed and miscellaneous assets, represents the appraised value of all assets regarded as involving

a substantial or unreasonable degree of risk, and hence undesirable or hazardous

for bank investment. It includes the value of assets in Classification II and 50

percent of the value of assets in Classification III.1 The appraised value of substandard assets also represents the book value of all criticized assets less examiners’

deductions (net) on such assets. The term “substandard” corresponds in meaning

to the term “slow” used in the Annual Reports of the Corporation for 1936, 1935,

and 1934, except in the case of securities and total assets.

Fixed and substandard assets includes that portion of fixed assets not criticized

as well as all substandard assets. Fixed assets consist of banking house, furniture

and fixtures, and other real estate.

Total capital accounts, or book value of capital accounts, refers to the

“ net worth” or equity of stockholders (including holders of capital notes and

debentures) in each bank as carried by the bank on its books at the time of examination.

Net sound capital represents total capital accounts less examiners’ deductions

(net) from capital; and is the examiners’ evaluation of the net worth or equity of

stockholders (including holders of capital notes and debentures) in each bank. The

retirable value of R. F. C. capital is used to determine the amount of net sound

private capital, so that the latter differs from book value of private capital accounts

by the excess of retirable value of R. F. C. capital over book value as well as by the

examiners’ deductions (net) from total capital accounts. The term “ net sound

capital” corresponds in meaning to the term “adjusted capital account” used in

the Annual Report of the Corporation for 1938, to the term “ net capital account”

used in the Annual Report of the Corporation for 1937, and to the term “ sound

capital” used in the Annual Report of the Corporation for 1936.

The amount of R. F. C. capital in banks may correspond to any one of three

values: the par or face value; the book value, which is normally the same as par

value but may be less; and the retirable value. The latter is the same as the

investment of the Reconstruction Finance Corporation shown in Tables 123 to 125,

inclusive.

Deposits, in all cases, represent deposits at the date of the examination.

Adjusted deposits and adjusted liabilities include, in addition to liabilities

shown on the books of the bank, those not shown, but determined by the examiner

to exist.

1 See the Annual Report of the Federal Deposit Insurance Corporation for the year ending December SI,

1938, pages 76 to 78, particularly Table 40.

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76 FEDERAL DEPOSIT INSURANCE CORPORATION

Average net current operating earnings, in general, represents the average

of net current operating earnings for the prior 3-year period; and the figure for

total assets to which it is related is the monthly average for the 3-year period

immediately prior to the examination. In the case of banks operating for one

year or more but less than three years, averages are for calendar years of operations.

In a number of cases, the assets are as of the date of the examination.

Irregularity in individual items. Items referred to in footnote 5 of Table 127

and footnote 2 of Table 131, as well as the dollar figures in the corresponding tables,

are strongly affected by the figures of two banks:

(a) One bank with (i) R. F. C. investment of about $7.5 million, (ii) net sound

capital of from $30 to $35 per $100 of appraised value of assets, (iii) fixed and

substandard assets of more than $35 per $100 of appraised value of assets, (iv)

3-year average net earnings of $0.68 per $100 of total assets, and (v) deposits on

the date of examination of between $10 million and $50 million.

(b) One bank with (i) $10 million in securities (stocks) not shown on the books,

(ii) net sound capital of more than $35 per $100 of appraised value of assets, (iii)

fixed and substandard assets of $30 per $100 of appraised value of assets, (iv) 3-year

average net earnings of $2.92 per $100 of total assets, and (v) deposits on the date

of examination of between $10 million and $50 million.

The Federal Deposit Insurance Corporation Districts serve the following

territories:

District 1 Maine, New Hampshire, Vermont, Massachusetts, Rhode

Island, Connecticut.

District 2 New York, New Jersey, Delaware, Puerto Rico, Virgin Islands.

District 3 Ohio, Pennsylvania.

District 4 Maryland, District of Columbia, Virginia, West Virginia,

North Carolina, South Carolina.

District 5 Georgia, Florida, Alabama, Mississippi, Louisiana.

District 6 Kentucky, Tennessee, Missouri, Arkansas.

District 7 Indiana, Michigan, Wisconsin.

District 8 Illinois, Iowa.

District 9 ... Minnesota, North Dakota, South Dakota, Montana.

District 10 Nebraska, Kansas, Oklahoma, Colorado, Wyoming.

District 11 Texas, New Mexico, Arizona.

District 12 Idaho, Utah, Nevada, Washington, Oregon, California, Alaska,

Hawaii.

Earnings, Expenses, and Disposition of Profits of Insured Banks

Reports of earnings and dividends of banks members of the Federal Reserve

System are submitted semi-annually on a six-months, basis to the Comptroller

of the Currency by national banks and to the Board of Governors of the Federal

Reserve System by State banks members of that system. Reports of insured

State banks not members of the Federal Reserve System are submitted to the

Federal Deposit Insurance Corporation on an annual basis at the close of each

calendar year. As a result, the figures relating to earnings of all insured banks,

presented in Tables 140 and 141, include figures for the first half of the year of

banks which were members of the Federal Reserve System on June 30, for the last

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EXPLANATORY NOTES 77

half of the year of banks which were members of the Federal Reserve System on

December 31, and for the full year, or such part as they were in existence, of insured

State banks not members of the Federal Reserve System on December 31. As a

consequence, in the case of banks withdrawing from membership in the Federal

Reserve System during the last half of the year but continuing insurance, figures

for the first half of the year are included as banks members and for the entire year

as banks not members of the Federal Reserve System. In the case of insured

banks not members of the Federal Reserve System joining that system during the

last half of the year, earnings for only the last half of the year are included. The

figures for number of banks appearing in the tables represent the number at the

close of the year indicated.

Banks operating throughout the year. The figures relating to earnings

of insured banks, presented in Tables 142 to 147, inclusive, and to earnings of

insured banks not members of the Federal Reserve System, given in Tables 149 to

154, inclusive, are based only upon banks operating throughout the year whose

operations were not materially affected by mergers, consolidations, or other corporate

changes. Figures for banks commencing operations during the year, reporting

earnings for less than the full year, or materially affected by mergers or consolidations have been excluded. In the case of banks members of the Federal Reserve

System the earnings of each individual bank for the first half-year and the second

half-year have been combined.

Asset and liability averages. The ratios of earnings and dividends, presented

in Table 140, are based upon the averages of the total assets of all insured banks

reporting on the call dates specified; such asset averages include figures for banks

which reported on one call date but not on another because they became insured

during the year or were in operation only part of the year. No duplications in the

asset figures exist because of changes in class of insured bank during the period.

The ratios presented in Tables 142 to 147, inclusive, and in Tables 151 to 154,

inclusive, are based upon averages of assets and liabilities for the identical banks

to which the earnings data pertain. The asset and liability averages are derived

from four call dates for banks members of the Federal Reserve System, viz: March

29, 1939, June 30, 1939, October 2, 1939, and December 30, 1939; and from three

call dates for banks not members of the Federal Reserve System, viz: December 31,

1938, June 30, 1939, and December 30, 1939.

Depreciation. Data relating to national banks and to State banks members

of the Federal Reserve System given in Tables 140 and 141 differ from those published by the Comptroller of the Currency and the Board of Governors of the Federal

Reserve System, due to the classification in those tables of all reported depreciation

on banking house, furniture and fixtures under current operating expenses. Such

depreciation is shown by the Comptroller of the Currency and the Board of Governors of the Federal Reserve System under losses and charge-offs.

In the case of insured banks not members of the Federal Reserve System only

regularly recurring depreciation is classified under current operating expenses;

extraordinary charge-offs of banking house, furniture and fixtures are included

with “losses, charge-offs, and additions to valuation allowances.”

Interest on time and savings deposits. The amount of interest on time and

savings deposits paid by insured banks not members of the Federal Reserve System

in 1936, given in Tables 140 and 148, is believed to be overstated by $1 million

to $1.5 million due to errors of reporting. The decrease in this item from 1936

to 1937, therefore, probably reflects in part the error in the preceding year.

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78 FEDERAL DEPOSIT INSURANCE CORPORATION

Earnings of insured commercial banks not members of the Federal

Reserve System for 1935. Figures for 1935, shown in Table 148, are not comparable to those for subsequent years because of a difference in reporting of income

taxes and depreciation. For that year ‘‘income taxes” are included in “ taxes

(other than on income)” as a part of current operating expense. Beginning with

1936, they are classified separately as a deduction from net profits. All depreciation

on banking house, furniture and fixtures is included in “ other expenses of occupancy

and maintenance of banking quarters” under current operating expenses in 1935.

In later years, extraordinary non-recurring “ depreciation on banking house, furniture and fixtures” is included under “losses, charge-offs, and additions to valuation

allowances.” “ Profits on other assets sold or exchanged” were included with recoveries in 1935.

Suspensions, Receiverships, and Mergers

The figures for deposits which appear in Tables 156 to 161, inclusive, and for

disbursements which appear in Tables 157 and 160 are calculated by rounding the

figures for each bank to thousands of dollars. Totals appearing in these tables,

therefore, in some cases do not agree exactly with totals appearing in Tables 162

and 166.

Differences between the number of insured banks suspended or merged with the

aid of loans from the Corporation, as shown in Table 103 or in the corresponding

tables in previous Annual Reports, and as shown in Tables 156 to 162, inclusive,

and differences between the number of insured banks suspended and the number

placed in receivership, are due to differences in the classifications employed and to

particular circumstances connected with some of the cases involved.

In the case of suspended banks covered by Table 156, in 1936 one bank was

classified as a “suspended bank succeeded by another bank in same class” in Table

102 of the Annual Report for that year; in 1937, one bank was classified as “ noninsured bank succeeding national bank suspended,” and three banks were classified

as “ banks suspended and reopened,” in Table 102 of the Annual Report for that

year.

Of banks merged with financial aid of the Corporation covered in Table 157,

19 were treated as follows in the table of changes in the number of banks (Table

103 of this report, and Table 102 in the Annual Reports for 1936, 1937, and 1938):

In 1936, five banks were classified among “successions not involving changes

in number and classification;”

In 1937, two banks were classified among “ changes in classification among

insured banks,” and three banks among “successions and reopenings not involving changes in number or class;”

In 1938, one bank was classified among “suspended banks not reopened

or succeeded” and one among “ changes in title;”

In 1939, three banks were classified as “successions” not affecting the number

in any class, one was classified among “ changes in title and location,” and

three were excluded because they continued operations under their old charters

and names after being merged with other banks to which loans were also made.

The insured banks which received financial aid from the Federal Deposit Insurance Corporation, shown in Tables 158 and 161, include the banks merged with

aid of loans from the Corporation (Tables 157, 160, and 162) and the banks placed

in receivership (Tables 164 to 168).

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EXPLANATORY NOTES 79

Differences between the number and deposits of insured banks included in

receiverships and the number and deposits of insured banks which suspended are

due to the cases listed below.

Included in suspensions but not

in receiverships:

Merged with aid of loan from F D IC .

Receiverships not in same year as

suspensions:

Included in receiverships but not in

suspensions of insured banks:

Voluntary liquidation listed among 

receiverships (depositors paid by

F D IC ).....................................................

Noninsured bank with insured deposits 

at date of suspension (insured 

status having been terminated prior

Year of 

closing State Class Deposits

1935

1937

1937

1937

1938

Oklahoma

Kentucky

Tennessee

Iowa

Illinois

Not member FRS 

Not member FRS 

Not member FRS 

National

N ot member FRS

$85,000

206,000

122,000

3.594.000

2.795.000

1

1935

1937

L

Texas

Maryland

Not member FRS 

N ot member FRS

219.000

669.000

1937

5

1

Michigan Not member FRS 64,000

L

1938 Tennessee N ot member FRS 278,000

Case

35

126

All banks included in Tables 156 to 168, inclusive, are commercial banks with

the exception of two mutual savings banks. The data concerning these two mutual

savings banks are as follows:

Year of

closing State

Included in suspensions and in receiverships ............................................ 1938 Vermont

Included in banks merged with the

financial aid of F D IC ......................... 1939 Indiana

Case

Class Deposits number

Not member FRS $2,479,000 157

N ot member FRS 1,584,000 .........

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NUMBER OF BANKING OFFICES

Table 101. N u m b e r AND CLASSIFICATION OF OPERATING BANKING OFFICES, DECEMBER 31, 1935-19391

00

o

United States including possessions United States excluding possessions

Dec. 31, 

1935

Dec. 31, 

1936

Dec. 31, 

1937

Dec. 31, 

1938

Dec. 31, 

1939

Dec. 31, 

1935

Dec. 31, 

1936

Dec. 31, 

1937

Dec. 31, 

1938

Dec. 31, 

1939

ALL BANKING OFFICES

19,312 19,203 19,050 18,905 18,778 19,218 19,109 18,958 18,813 18,687

17,328 17,297 17,241 17,133 17,069 17,324 17,290 17,234 17,126 17,062

Noninsured............................................................................ 1,984 1,906 1,809 1,772 1,709 1,894 1,819 1,724 1,687 1,625

All b a n k s .............................................................................. 15,940 15,714 15,444 15,257 15,085 15,904 15,679 15,430 15,223 15,049

Insured............................................................................... 14,182 14,029 13,853 13,709 13,589 14,179 14,025 13,849 13,705 13,585

Noninsured....................................................................... 1,758 1,685 1,591 1,548 1,496 1,725 1,654 1,561 1,518 1,464

All b ra n ch e s ....................................................................... 3,372 3,489 3,606 3,648 3,693 3,314 3,430 3,548 3,590 3,638

Insured............................................................................... 3,146 3,268 3,388 3,424 3,480 3,145 3,265 3,385 3,421 3,477

Noninsured....................................................................... 226 221 218 224 213 169 165 163 169 161

COMMERCIAL BANKING OFFICES

18,622 18,516 18,364 18,220 18,095 18,528 18,422 18,272 18,128 18,004

17,265 17,234 17,178 17,073 16,994 17,261 17,227 17,171 17,066 16,987

Members F . R. System: national.............................. 6,721+ 6,733 6,71+8 6,727 6,710 6,721+ 6,733 6,74,8 6,727

2,106

6,710

Members F. R. System: State.................................... 1,956 2,03k 2,075 2,106 2,177 1,956 2,031+ 2,075 2,177

8,585 8,1+67 8,355 8,21+0

1,147

8,107 8,581 8,1+60 8,31+8 8,233 8,100

Noninsured....................................................................... 1,357 1,282 1,186 1,101 1,267 1,195 1,101 1,062 1,017

15,374 15,151 14,882 14,703 14,534 15,338 15,116 14,848 14,669 14,498

14,126 13,973 13,797 13,661 13,538 14,123 13,969 13,793 13,657 13,534

Members F . R. System: national.......................... 5,386 5,325 5,260 5,221+ 5,187 5,386 5,325 5,260 5,221+ 5,187

Members F. R. System: State............................... 1,001 1,051 1 .081 1 ,111+ 1,1 75 1,001 1,051 1,081 1,111+ 1,175

Not members F . R. System.................................... 7,739 7,597 7,1+56 7,323 7,176 7,736 7,593 7,1+52 7,319 7,172

1,248 1,178 1,085 1,042 996 1,215 1,147 1,055 1,012 964

14,518 14,257 13,958 13,764 13,579 14,494 14,233 13,935 13,741 13,554

13,312 13,119 12,912 12,762 12,625 13,310 13,117 12,910 12,760 12,623

Members F. R. System: national..................... 5,198 5,128 5,06^ 5,028 l+,990 5,198 5,128 5,061+ 5,028 l+,990

Members F . R. System: State........................... 856 898 922 958 1,010 856 898 922 953 1 ,010

Not members F. R. System................................ 7.258 7,093 6,926 6,781 6,625 7,256 7,091 6,921+ 6,779 6,623

Noninsured............................................................... 1,206 1,138 1,046 1,002 954 1,184 1,116 1,025 981 931

FEDERAL DEPOSIT INSURANCE CORPORATION

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Banks operating branches.................................. 856 894 924 939 955 844 883 913 928 1 944

Insured...................................................................... 814 854 885 899 913 813 852 883 897 911

Members F . R. System: national..................... 188 197 196 196 197 188 197 196 196 197

Members F. R. System: State.......................... 1U5 153 159 161 165 lk5 153 159 161 165

Not members F. R. System............................... k 81 501+ 530 5k2 551 k80 502 528 5k0 5k9

Noninsured.............................................................. 42 40 39 40 42 31 31 30 31 33

Branches.......................................................................... 3,248 3,365 3,482 3,517 3,561 3,190 3,306 3,424 3,459 3,506

Insured............................................................................... 3,139 3,261 3,381 3,412 3,456 3,138 3,258 3,378 3,409 3,453

Members F. R. System: national......................... 1,338 l,k08 1,U88 1,503 1,523 1,338 1 ,k08 1 ,k88 1,503 1,523

Members F. R. System: State............................... 955 983 99k 992 1,002 955 983 99k 992 1,002

Not members F. R. System................................... 8J+6 870 899 917 931 8k5 867 896 91k 928

Noninsured................................................................... 109 104 101 105 105 52 48 46 50 53

All offices of banks operating branches........ 4,104 4,259 4,406 4,456 4,516 4,034 4,189 4,337 4,387 4,450

Insured...................................................................... 3,953 4,115 4,236 4,311 4,369 3,951 4,110 4,261 4,306 4,364

Members F. R. System: national..................... 1,526 1,605 1,68k 1,699 1,720 1,526 1,605 1 ,68k 1,699 1,720

Members F. R. System: State.......................... 1,100 1,136 1,153 1,153 1,167 1,100 1,136 1 ,153 1,153 1,167

Not members F. R. System............................... 1,327 1 ,37k l,k29 l,k59 1,182 1,325 1,369 1 ,k2k l,k5k l,k77

Noninsured.............................................................. 151 144 140 145 147 83 79 76 81 86

MUTUAL SAVINGS BANKING OFFICES

Banking offices................................................................. 690 687 686 685 683 690 687 686 685 683

Insured............................................................................... 63 63 63 60 75 63 63 63 60 75

Noninsured....................................................................... 627 624 623 625 608 627 624 623 625 608

Banks2............................................................................... 566 563 562 554 551 566 563 562 554 551

Insured.......................................................................... 56 56 56 48 51 56 56 56 48 51

Noninsured................................................................... 510 507 506 506 500 510 507 506 506 500

Unit banks................................................................. 438 4S5 485 475 471 488 485 485 475 471

Insured...................................................................... 52 52 52 44 43 52 52 52 44 43

Noninsured.............................................................. 436 433 433 431 428 436 433 433 431 428

Banks operating branches............. ................. 78 78 77 79 80 78 78 77 79 80

Insured...................................................................... 4 4 4 4 8 4 4 4 4 8

Noninsured.............................................................. 74 74 73 75 72 74 74 73 75 72

Branches.......................................................................... 124 124 124 131 132 124 124 124 131 132

Insured.......................................................................... 7 7 7 12 24 7 7 7 12 24

Noninsured................................................................... 117 117 117 119 108 117 117 117 119 108

All offices of banks operating branches........ 202 202 201 210 212 202 202 201 210 212

Insured...................................................................... 11 11 11 16 32 11 11 11 16 32

Noninsured.............................................................. 191 191 190 194 180 191 191 190 194 180

1 For explanation of classification of banking offices, see pages 71-72.

2 Not members of the Federal Reserve System.

00NUMBER OF BANKING OFFICES

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Table 102. A n a ly s i s OF A d m issio n s TO AND TERMINATIONS OF INSURANCE IN EACH CLASS OF BANK, 1934-1939

ALL BANKS

N u m ber insured at begin n in g o f p e r io d .............................................................

N um ber insured at end o f p e r io d ..........................................................................

A dm issions n o t directly offset by term inations-—to ta l................................

Banks operating, or with direct predecessors operating, when deposit insurance became effective:

Banks of deposit operating January 1, 1934, not previously insured, or

successors to such banks2....................................................................................

Banks previously insured, or successors to such banks3.................................

Financial institutions operating January 1, 1934, but not engaged in deposit banking, or successors to such institutions4. ......................................

Banks in conservatorship or operating under restrictions, or in receivership 

or liquidation, when deposit insurance became effective:

Successors to or reorganizations of banks in conservatorship or operating

under restrictions5.................................................................................................

Successors to or reorganizations of banks in receivership or in process of 

liquidation6..............................................................................................................

Banks organized and opened since deposit insurance became effective:

Banks opened and admitted to insurance in the same calendar year.........

Banks opened since January 1, 1934, prior to year of admission to insurance, or successors to such banks....................................................................

A dm issions directly offset by term in ation s— t o t a l........................................

Banks succeeding other banks in same class7........................................................

Banks succeeding other insured banks not in same class7.................................

Readmissions of banks which had suspended and reopened or had withdrawn 

from insurance...........................................................................................................

Admissions to insurance of banks withdrawing from F. R . System...............

Admissions of insured banks to F. R . System8.....................................................

T erm in a tion s n o t d irectly offset by adm ission s— t o ta l...............................

Banks suspended or merged with financial aid from FDIC:

Suspended banks not reopened or succeeded....................................................

Banks merged with financial aid of FD IC — net reduction...........................

1934-1939

1934

1935

1936 1937 1938 1939

Total

Under 

temporary plan

Under 

permanent plan

Jan .1 - 

Aug. 22

Aug. 23- 

Dec. 31

113,201 13,201 14,219 113,201 14,217 14,219 14,182 14,029 13,853 13,709

13,589 14,219 13,589 14,217 14,219 14,182 14,029 13,853 13,709 13,589

1,927 1,624 303 1,430 194 42 83 82 48 48

499 405 94 355 50 14 33 25 11 11

17 2 15 1 1 3 4 1 2 5

12 12 1 2 3 3 3

1,006 989 17 921 68 5 6 2 4

86 76 10 60 16 5 3 1 1

278 142 136 93 49 14 32 45 21 24

29 10 19 10 3 5 6 5

717 248 469 193 55 23 120 117 78 131

131 71 60 53 18 3 15 18 8 16

155 41 114 30 11 6 30 35 18 25

6 1 5 1 2 1 2

28 6 22 3 3 6 6 5 5

397 129 268 107 22 12 68 56 47 85

1,539 605 934 414 191 80 236 258 192 168

204 24 180 9 15 9 40 50 49 32

85 85 22 20 22 21

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Other terminations:

Withdrawals from insurance of operating banks (excluding those readmitted during same y ea r)..................................................................................

Banks absorbed by, succeeded by, or consolidated with noninsured banks. 

Banks absorbed by or consolidated with other insured banks without

financial aid of F D IC — net reduction.............................................................

Other liquidations.............................. ...................................................................

Insured status terminated by F D IC 9.................................................................

Terminations directly offset by admissions—total........................................

Banks succeeded by other banks in same class....................................................

Banks succeeded by other insured banks not in same class..............................

Suspended banks, or banks withdrawing from insurance, readmitted............

Banks withdrawing from F. R . System and admitted to insurance...............

Insured banks admitted to F. R. System8.............................................................

N ATIO N A L BANKS M EM BERS OF THE FEDERAL RESERVE SYSTEM

Number insured at beginning of period.............................................................

Number insured at end of period..........................................................................

Admissions not directly offset by terminations—total................................

Banks operating, or with direct predecessors operating, when deposit insurance became effective:

Successors to banks operating but not insured January 1, 1934.................

Banks in conservatorship or operating under restrictions, or in receivership 

or liquidation, when deposit insurance became effective:

Successors to or reorganizations of banks in conservatorship.....................

Successors to or reorganizations of banks in receivership or in process of 

liquidation..............................................................................................................

Banks organized and opened since deposit insurance became effective: 

Banks opened and admitted to insurance in the same calendar year.........

Admissions directly offset by terminations— total........................................

Banks succeeding other banks in same class7........................................................

Banks succeeding other insured banks not in the same class7...........................

Readmission of bank which had suspended and reopened.................................

Terminations not directly offset by admissions— total...............................

Banks suspended or merged with financial aid from FD IC :

Suspended banks not reopened or succeeded....................................................

Banks merged with financial aid of FDIC— net reduction...........................

Other terminations:

Banks absorbed by, succeeded by, or consolidated with noninsured banks 

Banks absorbed by or consolidated with other insured banks without

financial aid of F D IC — net reduction.............................................................

Other liquidations.....................................................................................................

228

20

783

216

3

717

131

1556

28

397

5,153

5,187

422

10

339

13

60

140

58

811

396

12

16

11

302

55

224 4 191 33 1 3

14 6 6 8 3 1 2

267 516 172 95 60 139 150 77 90

76 140 36 40 11 31 36 37 25

3 1 2

249 468 193 56 22 120 117 78 131

71 60 53 18 3 15 18 8 16

41 114 30 11 6 30 35 18 25

2 4 2 1 1 2

6 22 3 3 6 6 5 5

129 268 107 22 12 68 56 47 85

5,153 5,419 5,153 5,462 5,419 5,386 5,325 5,260 5,224

5,419 5,187 5,462 5,419 5,386 5,325 5,260 5,224 5,187

401 21 385 16 3 7 7 1 3

8 2 8 1 1

339 336 3

13 10 3

41 19 31 10 2 6 7 1 3

81 59 69 12 3 12 22 7 15

51 7 44 7 2 2 1 2

30 51 25 5 3 10 19 6 13

1 1

155 241 97 58 35 59 75 31 41

4 8 1 3 1 2 1 4

16 1 7 4 4

10 1 5 5 1

113 189 75 38 33 50 57 23 26

28 27 16 12 2 7 8 3 7

NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. A n a ly s i s o f A d m issio n s t o an d T e r m in a tio n s o f In s u r a n c e in E a c h C la s s o f B a n k , 1934-1939— Continued

1934-1939 1935

Total

Under 

temporary plan

Under 

permanent plan

1934

Jan .1 - 

Aug. 22

Aug. 23- 

Dec. 31

1936 1937 1938 1939

NATIONAL BANKS MEMBERS OF THE FEDERAL RESERVE

s y s t e m — Continued

132 61

51

10

71

7

48

44

4

13

7

4 21

2

19 13 14

58

72

2

2 1 2

B&nks succeeded, by other insured banks not in ss-itg class ..................... 62

2

6 3

1

19 16

1

12 12

Suspended banks or banks withdrawing from insurance, readmitted............

STATE BANKS M EM BERS OF THE FEDERAL RESERVE SYSTEM

Number insured at foe$^innin£ of period .............................................. 856

1,175

56

14

856

990

41

9

990

1,175

15

5

856

980

980

990

990 1,001

1,051

3

1,051

1,081

5

1,081

1,114

1,114

1,175

2

Number insured at end of period ............................................................... 1,001

Admissions not directly offset by terminations1— total ............................. 40 2

9

1 3

Banks operating, or with direct predecessors operating, when deposit insurance became effective:

Banks of deposit operating January 1, 1934, not previously insured, or 

successors to such banks2.................................................................................... 1 3 1

Bank previously insured3 ....................................................................................... 1 1 1

Financial institutions operating January 1, 1934, but not engaged in 

deposit banking, or successors to such institutions4.................................... 4 4 1 1 2

Banks in conservatorship or operating under restrictions, or in receivership 

or liquidation, when deposit insurance became effective:

Successors to or reorganizations of banks in conservatorship or operating 

under restrictions5 ............................................................................................... 25 25 24 1

Successors to or reorganizations of banks in receivership or in process of 

liquidation6 . ......................................................................................... 7 5 2 5 1 1

Banks organized and opened since deposit insurance became effective: 

Banks opened and admitted to insurance in the same calendar year......... 5 2 3 2 1 1 1

Admissions directly offset by terminations—tota l........................................ 408 133 275 109 24 13 70 58 47 87

Banks succeeding other banks in same class ..................................................... 5 3 2 1 2 1 1

Banks succeeding other insured banks not in same class................................... 6 1 5 1 1 1 2 1

Admissions of insured banks to F. R. System8..................................................... 397 129 268 107 22 12 68 56 47 85

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Terminations not directly offset by admissions— total...............................

Banks suspended or merged with financial aid from FDIC:

Suspended banks not reopened or succeeded....................................................

Banks merged with financial aid of FDIC—net reduction...........................

Other terminations:

Withdrawals from insurance of operating banks (excluding those readmitted during same yea r)..............................................................................

Banks absorbed by or consolidated with other insured banks without

financial aid of F D IC — net reduction.............................................................

Other liquidations.....................................................................................................

Terminations directly offset by admissions— total........................................

Banks succeeded by other banks in same class....................................................

Banks succeeded by other insured banks not in same class..............................

Banks withdrawing from F. R. System and admitted to insurance...............

C O M M ER C IA L BANKS NOT M EM BERS OF THE 

F E D E RA L RESERVE SYSTEM

Number insured at beginning of period.............................................................

Number insured at end of period..........................................................................

Admissions not directly offset by terminations— total................................

Banks operating, or with direct predecessors operating, when deposit insurance became effective:

Banks of deposit operating January 1, 1934, not previously insured, or

successors to such banks2 ..................................................................................

Banks previously insured, or successors to such banks3.................................

Financial institutions operating January 1, 1934, but not engaged in 

deposit banking, or successors to such institutions4...................................

Banks in conservatorship or operating under restrictions, or in receivership 

or liquidation, when deposit insurance became effective:

Successors to or reorganizations of banks in conservatorship or operating

under restrictions5.................................................................................................

Successors to or reorganizations of banks in receivership or in process of 

liquidation6.............................................................................................................

Banks organized and opened since deposit insurance became effective:

Banks opened and admitted to insurance in the same calendar year.........

Banks opened since January 1, 1934, prior to year of admission to insurance, or successors to such banks..............................................................

Admissions directly offset by terminations— total........................................

Banks succeeding other banks in same class7........................................................

Banks succeeding other insured banks not in same class7.................................

Readmissions of banks which had suspended and reopened or had withdrawn 

from insurance...........................................................................................................

Admissions to insurance of banks withdrawing from F. R . System...............

74

6

2

2

5311

71

5

38

28

i%,978

7,176

1,421

45412

8

640

66

212

29

169

6868

5

28

19 55

6

11 8 4 11 20

2

7

1

13

3

2 1 1

1 1 1 1

13 40 6 7 4 9 14 6 7

5 6 4 1 1 3 2

21 50 14 7 12 13 10 15

3 2 1 2 1 1

12 26 10 2 5 7 5 9

6 22 3 3 6 6 5 5

6,978 7,754 106,978 7,707 7,754 7,739 7,597 7,456 7,323

7,754 7,176 7,707 7,754 7,739 7,597 7,456 7,323 7,176

1,158 263 982 176 37 73 70 44 39

367 87 317 50 13 31 22 11 10

2 10 1 1 3 3 1 2 1

8 2 2 1 3

623 17 560 63 5 6 2 4

58 8 45 13 4 3 1

98 114 59 39 12 25 37 20 20

10 19 10 3 5 6 5

34 135 15 19 7 38 37 24 29

17 51 8 9 3 12 16 7 13

10 58 4 6 2 19 14 12 11

1 4 1 2 1 1

6 22 3 3 6 6 5 5

NUMBER OF BANKING OFFICES

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
00

Ci

Table 102. A nalysis of A dmissions to and T erminations of Insurance in Each Class of Ban k , 1934-1939— Continued

1934-1939

I Total

COMMERCIAL BANKS NOT MEMBERS OF THE

f e d e r a l r e s e r v e s y s t e m — Continued

Terminations not directly offset by admissions— total

Banks suspended or merged with financial aid from FDIC:

Suspended banks not reopened or succeeded................. ...............................

Banks merged with financial aid of F D IC — net reduction...........................

Other terminations:

Withdrawals from insurance of operating banks (excluding those readmitted during same yea r)............................................................... j V ' ' V '

Banks absorbed by, succeeded by, or consolidated with noninsured banks 

Banks absorbed by or consolidated with other insured banks without

financial aid of FD IC — net reduction.............................................................

Other liquidations.....................................................................................................

Insured status terminated by F D IC 9..................................................................

Terminations directly offset by admissions— total

Banks succeeded by other banks in same class....................................................

Banks succeeded by other insured banks not in same class..............................

Suspended banks, or banks withdrawing from insurance, readmitted............

Insured banks admitted to F. R. System8.............................................................

M UTUAL SAVINGS BANKS

Number insured at beginning of period

Number insured at end of period..........................................................................

Admissions not directly offset by termination— total

Banks operating, or with direct predecessors operating, when deposit insurance became effective:

Banks of deposit operating January 1, 1934, not previously insured.........

Banks previously insured........................................................................................

878

18566

49

9

418

1492

68

45

4

397

214

51

28

Under 

temporary plan

249

20

46

4

136

43

17

192

129

214

56

24

21

Under 

permanent plan

16566

3

5

282

1062

347

51

262

268

56

51

1935

1934 1936 1937 1938 1939

Jan .1 - Aug. 23 -

Aug. 22 Dec. 31

i

137 112 41

!

166 163 146 113

8 12 9 39 46 46 25

21 12 18 15

21 25 3

1 3 3 2

91 45 23 80 79 43 57

16 27 9 23 25 33 16

1 1

131 36 18 87 85 55 102

8 9 3 12 16 7 13

16 3 3 6 12 1 4

2 1 1

107 22 12 68 56 47 85

214 68 56 56 56 56 48

68 56 56 56 56 48 51

23 1 4

21

4

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Banks in conservatorship or operating under restrictions, or in receivership 

or liquidation, when deposit insurance became effective:

Successors to or reorganizations of banks in conservatorship or operating 

under restrictions.................................................................................................

Banks organized and opened since deposit insurance became effective:

Bank opened and admitted to insurance in the same calendar y e a r .........

Terminations not directly offset by admissions— total...............................

Banks suspended or merged with financial aid from FD IC:

Suspended bank not reopened or succeeded....................................................

Bank merged with financial aid of FD IC — net reduction ...................! . . .

Other terminations:

Withdrawals from insurance of operating banks (excluding those readmitted during same yea r)..............................................................................

Banks consolidated with other insured banks without financial aid of

FD IC — net reduction..........................................................................................

Other liquidation............................................................................

Insured status terminated by F D IC ...............................................................”

i

2

1

182

1

1

169

1

9

1

1

13 8

1

1

1

177

5

169 8

5 5

1

1

5

1

1

+.1! banks admitted to insurance as of January 1, 1934, were licensed, under the provisions of the Executive Order of the President issued March 10, 1933, prior to, or 

on the date deposit insurance became effective, with the exception of a few banks which were fully or conditionally admitted to insurance as of January 1, 1934, though formally 

licensed at a later date. See also footnotes 4 and 10.

I p X(?ludes bai}ks operating under restrictions but unlicensed under the provisions of the Executive Order of the President issued March 10, 1933.

Includes banks which withdrew from insurance during or at the close of the temporary funds, or which were succeeded by noninsured banks and operated as noninsured 

banks for three months or more prior to readmission to insurance.

• a 4, ^ f se j a,s!fs ^ e following types of institutions: (a) trust companies not engaged in deposit banking but with uninvested trust funds eligible for insurance; (b)

industrial and Morris Plan banks and companies not legally authorized to receive deposits on January 1, 1934, which have been authorized by laws enacted since January 1, 1934, 

to engage m deposit banking, or whose obligations were recognized by the Corporation as eligible for the protection of deposit insurance; and (c) banks of deposit organized as 

successors to cooperative credit associations, savings and loan associations, Morris Plan companies, and similar institutions. In addition, 40 institutions of these types were 

admitted to insurance as of January 1, 1934. ^

5 Includes a few cases of banks placed under restrictions subsequent to January 1, 1934.

6 deludes a few cases of banks which were in conservatorship or operating under restrictions on January 1, 1934, which were subsequently placed in receivership or liquidation, and were m process of liquidation at the time of reorganization and admission to insurance.

j 1 deludes private banks incorporated, new charters obtained in connection with consolidation, and charter renewals in cases where corporate identity was not maintained 

and the bank was required to reapply for insurance.

*.1. 8 termination of insurance occurs in the case of insured banks not members of the Federal Reserve System which are admitted to that system, but they are insured 

thereafter under subsection (e) rather than subsection (f) of section 12B of the Federal Reserve Act, as amended. The number of insured banks admitted to Federal Reserve 

membership are shown m this table in order to indicate the admissions and terminations of insured banks by class.

9 1 of these banks subsequently suspended operations.

• 10 ?ncl.udes about 460 banks which had been approved for insurance, but from which assessment remittances were not received until after January 1, 1934. Also includes 

40 institutions of the types described in footnote 4.

00-3NUMBER OF BANKING OFFICES

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Federal Reserve Bank of St. Louis
Table 103. ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES

i n t h e U n it e d St a t e s a n d P o s s e s s io n s D u r i n g 1939

ALL BAN K IN G OFFICES

Number of offices, December 31, 1939.

Number of offices, December 31, 1938.

Net change during year...................

Changes resulting from —

Offices opened.

Banks...............

Branches........

Offices closed.

Banks...........

Branches. .. .

Changes in classification— net total........

Noninsured banks to insured banks...........

Noninsured branches to insured branches.

Among insured banks......................................

Among branches of insured banks...............

BANKS

Number of banks, December 31, 1939.

Number of banks, December 31, 1938.

Net change during year..............

Changes resulting from -

Banks beginning operations.....................................

New banks1.....................................................................

Banks not previously included2............................

Financial institutions becoming banks of deposit.

Banks ceasing operations..................................................................

Suspended banks not reopened or succeeded...............................

Merged with financial aid of F D IC — net decrease.....................

Other mergers, consolidations, and absorptions— net decrease. 

Other liquidations.................................................................................

All banking offices

Total

18,778

18,905

127

+ 132

+ 37 

+ 95

-259

-209

-50

15,085

15,257

-172

+ 37

+ 32

+ 3 + 2

-209

-42

-21

Noninsured

17,069

17,133

64

+ 117

4-27

490

214

168

46

4-33

+ 21 412

13,589

13,709

120

+ 27

+ 26

+ 1

-168

-32 -21

-90

-25

1,709

1,772

63

+ 15

+ 10

+ 5

-45

-41

33

-21

-12

1,496

1,548

-52

4 10 + 6 

4 3 + 1

-41 -10

-23

Commercial banking offices

Total

18,095

18,220

-125

+ 131

+ 37 

+ 94

-256

-206

-50

14,534

14,703

-169

+ 37

+ 32

+ 3 + 2

-206

-42

-20

-96

-48

Insured

16,994

17,073

+ 117

+ 27 

+ 90

213

-167

-46

+ 17

+ 17

13,538

13,661

+ 27

+ 26,

+ 1

-167

-32

-20

-90

-25

Members F. R. 

System

National

6,710

6,727

+ 23

+ 3

+ 20

49

41

+ 9

+1 + 8

5,187

5,224

+ 3

+ 3

-41

-4

-4

-26

-7

State

2,177

2,106

+ 71

+ 13 +1

+ 12

-35

13

-22

+ 93 + 1

+ 72 + 20

1,175

1,114

+ 61

+ 1+ 1

Not 

members 

F. R. 

System

8,107

8,240

+ 81

+ 23 

+ 58

129

113

16

-85

+ 16

7,176

7,323

-147

+ 23

+ 22

+ 1

-113

-25

-15

-57

-16

Noninsured

1,101

1,147

46

+ 14

+ 10

+ 4

43

-39

-4

-17

-17

996

1,042

+ 10 + 6 

+ 3 + 1

-39 -10

Mutual savings 

banking offices

Total

683

685

+ 1

+ 1

551

554

-3

Insured

75

60

+ 15

+ 16

+ 4 

+ 12

+ 3

sured

608

625

+ 1 

+ 1

-16

-4

-12

500

506

-6

-2 

' -2

0000FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N oninsured banks b eco m in g in su red .........................................

Admissions to F. R. System.............................................................

Admissions to insurance, banks operating at beginning of year.

Changes in classification a m on g insured ban k s ....................

National banks succeeding State banks.................................... . .

State banks succeeding national banks..........................................

Admissions to F. R. System.............................................................

Withdrawals from F. R . System with continuance of insurance.

C hanges n o t involvin g n u m b er in any class:

Successions3...........................................................................................

Changes in title4...................................................................................

Changes in location.............................................................................

Changes in title and location...........................................................

Changes in names of towns...............................................................

BRANCH ES

N um ber o f branch es, D ecem ber 31, 1939. 

N um ber o f branch es, D ecem ber 31, 1938.

Net ch an ge du rin g yea r...............................................................

C hanges resultin g fro m —

B ranches opened for bu sin ess..............................................

Absorbed banks converted into branches...........................

Branches replacing banks or branches closed or relocated. 

Other branches opened............................................................

B ranches d isc o n tin u e d ........................

Branches of banks which suspended . 

Other branches discontinued5.............

B ranches o f non in su red banks becom in g insured.

Branches of banks admitted to insurance....................

C hanges in classification a m on g branches of insured b a n k s.

Branches of banks admitted to F. R. System...............................

Branches transferred as result of absorptions or successions:

From national banks to State banks............................................

From State banks to national banks............................................

From banks not members F. R. System to banks members 

F. R . System..................................................................................

C hanges n o t in volving n u m b er in any class:

Branches transferred, chiefly as result of absorptions or successions.........................................................................................

Changes in title..................................................................................

Changes in location...........................................................................

Changes in title and location........................................................

3,693

3,648

+ 45

+ 95 

+ 43 + 11 

+ 41

-50

-9

-41

+ 21 

+ lf + 20

3,480

3,424

+ 56

+ 90

+ 42 + 11 

+ 37

46

-9

-37

+ 12 + 12

213

224

+ 5 + 1

+ 4 

-4

-4

-12 -12

3,561

3,517

+ 44

+ 94

+ 42 + 11 

+ 41

-50

-9

-41

+ 1 

+ 16

+ 17

3,456

3,412

+ 44

+ 90

+ 42 + 11 

+ 37

-46

-9

-37

+1

+ 13 

-12

1,523

1,503

+ 20

+ 20

+ 13 + 1 + 6

-8

+ 8

-5 

+ 13

+ 1+ 1

+ 72 

-9 + 1 

+ 85 

-5

1,002

992

+ 10

+ 12

+ 5

+ 7

-22

-7

-15

+ 20 

+ 14

+ 4

+ 2

+ 16

+ 16

-73

-4 

+ 11

-85 

+ 5

931

917

+ 14

+ 58 

+ 24 + 10 

+ 24

-16-2

-14

-28

-14

+ 1 

-13

-17-1

-16

105

105

+ 4

+ 4

132

131

+ 1

+ 1+ 1

+ 4

+ 4

2412

+ 12

+ 12 + 12

-4

-4

108

119

11

+ 1+ 1

-12 -12

Includes, among insured banks not members of the Federal Reserve System, 1 credit union and 1 savings and loan company which reorganized as banks of deposit, 2 banks 

which opened during the year as noninsured banks but were later admitted to insurance. Includes, among noninsured banks, 2 banks in the possessions.

Includes, among noninsured banks, 2 branches of foreign banks engaged in deposit banking, and 1 private bank organized in 1936.

3 Includes, among insured banks not members of the Federal Reserve System, 5 charter renewals.

4 Includes, among insured banks not members of the Federal Reserve System, 2 cash depositories which changed titles in connection with the obtaining of full banking powers.

5 Includes, among branches of noninsured banks, 3 branches in the possessions.

NOTE: For reconcilement of figures relating to number of suspensions, receiverships, and mergers with FD IC aid, see page 78.

Back figures See the following Annual Reports: 1938, p. 124; 1937, pp. 70-72; 1936, pp. 102-04; 1935, pp. 144-46; 1934, p. 177.

00NUMBER OF BANKING OFFICES

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Federal Reserve Bank of St. Louis
Table 104. N u m b e r OF OPERATING BANKING OFFICES, DECEMBER 31, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

CO

o

All banking offices Commercial banking offices Mutual savings banking 

offices

Insured banking offices 

as percentage of—

Total Insured Noninsured Total

Insured

Noninsured Total Insured Noninsured

All

banking

offices

Commercial

banking

offices

Mutual

savings

banking

offices Total

Members F. R. 

System

Not 

members 

F. R. National State System

United States and possessions— total........ 18,778 17,069 1,709 18,095 16,994 6,710 2,177 8,107 1,101 683 75 608 90.9 93.9 11.0

All banks............................................................... 15,085 13,589 1,496 14,534 13,538 5,187 1,175 7,176 996 551 51 500 90.1 93.1 9.3

Unit banks........................................................ 1 U,050 12,668 1,382 13,579 12,625 k,990 1,010 6,625 95k k71 k3 k28 90.2 93.0 9.1

Banks operating branches.............................. 1,035 921 m 955 913 197 165 551 k2 80 8 72 89.0 95.6 10.0

Branches................................................................ 3,693 3,480 213 3,561 3,456 1,523 1,002 931 105 132 24 108 94.2 97.1 18.2

United States.................................................... 18,687 17,062 1,625 18,004 16,987 6,710 2,177 8,100 1,017 683 75 608 91.3 94.4 11.0

All banks.......................................................... 15,049 13,585 1,464 14,498 13,534 5,187 1,175 7,172 964 551 51 500 90.3 93.4 9.3

Unit banks................................................... 1U ,025 12,666 1,359 13,55 k 12,623 k,990 1,010 6,623 931 k71 k3 k28 90.3 93.1 9.1

Banks operating branches.......................... 1 ,02k 919 105 9kk 911 197 165 5k9 33 80 8 72 89.7 96.5 10.0

Branches........................................................... 3,638 3,477 161 3,506 3,453 1,523 1,002 928 53 132 24 108 95.6 98.5 18.2

Possessions 91 7 84 91 7 7 84 7.7 7.7

All banks........................................... 36 4 32 36 4 4 32 11.1 11.1

Unit banks....................................... 25 2 23 25 2 2 23 8.0 8.0

Banks operating branches................. 11 2 9 11 2 2 9 18.2 18.2

Branches....................................................... 55 3 52 55 3 3 52 5.5 5.5

State

Alabama ......................................... 237 229 8 237 229 85 17 127 8 96.6 96.6

All banks...................................................... 217 209 8 217 209 66 16 127 8 96.3 96.3

Unit banks . . . . . . . . 21U 206 8 21k 206 6k 15 127 8 96.3 96.3

Banks operating branches 3 3 3 3 2 1 100.0 100.0

Branches ................................................... 20 20 20 20 19 1 100.0 100.0

Arizona............................................................ 38 38 38 38 26 2 10 100.0 100.0

All banks ................................................. 12 12 12 12 5 2 5 100.0 100.0

Unit banks ..................................... 8 8 8 8 3 2 3 100.0 100.0

Banks operating branches............. k k k k 2 2 100.0 100.0

Branches....................................................... 26 26 26 26 21 5 100.0 100.0

Arkansas ................................................. 229 223 6 229 223 50 7 166 6 97.4 97.4

All banks...................................................... 214 208 6 214 208 49 7 152 6 97.2 97.2

Unit banks............................................... 200 19 U 6 200 19k k8 7 139 6 97.0 97.0

Banks operating branches..................... lk lk lk lk 1 13 100.0 100.0

Branches....................................................... 15 15 15 15 1 14 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1,057

207

1,049 8

200 7

173 167 6

Banks operating branches..................... 34

850

33

849

1

1

145 137 8

145 137 8

14-5 137 8

207 109 98

192 102 90

185 97 88

Banks operating branches..................... 7

15

5

7

2

8

60 55 5

46 42 4

Unit banks............................................... 39 36 3

Banks operating branches.....................

Branches ...................................................

7

14

6

13

1

1

D istrict o f C o lu m b ia ................................. 52 52

All banks ................................................. 22 22

Unit banks ........................................... 11 11

Banks operating branches..................... 11 11

Branches ................................................... 30 30

F lorid a............................................................. 167 162 5

All banks...................................................... 165 162 3

Unit banks............................................... 164 162 2

Banks operating branches..................... 1 1

Branches ................................................. 2 2

G eorg ia ............................................................ 373 291 82

All banks...................................................... 347 267 80

Unit banks...............................................

Banks operating branches.....................

Branches.......................................................

336

11

26

258

9

24

78

2

2

Id ah o .............................................................. 83 81 2

All banks .................................................... 51 49 2

Unit banks...............................................

Banks operating branches.....................

45

6

43

6

2

Branches....................................................... 32 32

1,057

207

173

3U

850

145

145 145

1,049 782 141 126

200 100 15 85

167 91 8 68

33 9 7 17

849 682 126 41

137 78 13 46

137 78 13 46

137 78 13 1*6

109 57 6 46

102 53 5 44

97 50 •4 U3

5 3 1 1

7 4 1 2

55 15 6 34

42 15 4 23

36 15 2 19

6 2 4

13 2 11

52 26 11 15

22 9 5 8

11 U 2 5

11 5 3 3

30 17 6 7

162 52 4 106

162 52 4 106

162 52 4 106

291 68 23 200

267 52 18 197

258 49 15 194-

9 3 3 3

24 16 5 3

81 35 23 23

49 18 10 21

US 14- 9 20

6 4- 1 1

32 17 13 2

8 99.2 99.2

7 96.6 96.6

6 96.5 96.5

1 97.1 97.1

1 99.9 99.9

8 94.5 94.5

8 94.5 94.5

8 91*.5 94.5

25 73 73 52.7 81.3

18 72 72 53.1 85.0

17 71 71 52.4. 85.1

1 1 1 71.4 83.3

7 1 1 46.7 50.0

2 3 3 91.7 96.5

2 2 2 91.3 95.5

2 1 1 92.3 9U.7

1 1 85.7 100.0

1 1 92.8 100.0

100.0 100.0

100.0 100.0

100.0 100.0

100.0 100.0

100.0 100.0

5 97.0 97.0

3 98.2 98.2

2 98.8 98.8

1

2

82 78.0 78.0

80 76.9 76.9

78 76.8 76.8

2 81.8 81.8

2 92.3 92.3

2 97.6 97.6

2 96.1 96.1

2 95.6 95.6

100.0 100.0

100.0 100.0

134

120

114

6

14

57

44 

38

6

13

52

22

11

11

30

167

165

1641

2

373

347

336

11

26

83

51

45

6

32

CDNUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 104. N umber of Operating Banking Offices, D ecember 31, 1939— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

All banking offices Commercial banking offices Mutual savings banking 

offices

Insured banking offices 

as percentage of—

Total Insured Noninsured Total

Insured

Noninsured Total Insured Noninsured

All

banking

offices

Commercial

banking

offices

Mutual

savings

banking

offices Total

Members F. R. 

System

Not 

members 

F. R. National State System

Illin ois 848 831 17 848 831 327 77 427 17 98.0 98.0

848 831 17 848 831 327 77 427 17 98.0 98.0

Unit banks 8U8 831 17 8U8 831 327 77 U27 17 98.0 98.0

Branches

In d ia n a ............................................................ 573 543 30 569 540 133 38 369 29 4 3 1 94.8 94.9 75.0

All banks...................................................... 508 479 29 504 476 125 23 328 28 4 3 1 94.3 94.4 75.0

Unit banks............................................... U68 U 0 28 W 1+37 119 20 298 27 U 3 1 91+-0 9U-2 75.0

Banks operating branches U o 39 1 uo 39 6 3 30 1 97.5 97.5

Branches 65 64 1 65 64 8 15 41 1 98.5 98.5

Iow a 817 733 84 817 733 108 35 590 84 89.7 89.7

All banks 658 584 74 658 584 108 35 441 74 88.8 88.8

Unit banks 51*1 U7k 67 5U1 b7U 108 35 331 67 87.6 87.6

Banks operating branches 117 110 7 117 110 110 7 9U.0 9U-0

Branches 159 149 10 159 149 149 10 93.7 93.7

Kansas 675 453 222 675 453 182 21 250 222 67.1 67.1

All banks 675 453 222 675 453 182 21 250 222 67.1 67.1

Unit banks 675 Jf.53 222 675 1+53 182 21 250 222 67.1 67.1

Banks operating branches

Branches .............................................

K e n tu ck y ........................................................ 434 402 32 434 402 113 19 270 32 92.6 92.6

All banks ................................................. 406 374 32 406 374 95 17 262 32 92.1 92.1

Unit banks .......................... 393 361 32 393 361 92 15 25U 32 91.9 91.9

Banks operating branches 13 13 13 13 3 2 8 100.0 100.0

Branches ..................... 28 28 28 28 18 2 8 100.0 100.0

L ouisian a 198 197 1 198 197 55 8 134 1 99.5 99.5

All banks 145 144 1 145 144 29 7 108 1 99.3 99.3

Unit banks .......................... 117 116 1 117 116 23 6 87 1 99.1 99.1

Banks operating branches. 28 28 28 28 6 1 21 100.0 100.0

Branches....................................................... 53 53 53 53 26 1 26 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
M aine..........................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

M aryland..................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

M assachusetts........................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

M ichigan...................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

M innesota.................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

Mississippi................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

M issouri.....................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

160 101

7922

59

282

188

161

27

94

540

390

323

67

150

623

459 i+io

1+9

164

685

679

677

247

205

18121+

42

626

626

11866

50

16

52

254

176

151

25

78

308

192

150U2

116

588

429

3 831+6

159

654

648

61+626

236

194

17021+

42

587

587

587

42

35

2967

2812102

16

232

198

173

25

34

35

30 

2735

31

31

31

126

69

1+9 20

57

254

176

151

25

78

315

198

1561+2

117

623

459 1+10

1+9

164

684

678

676

247

205

18121+

42

626

626

112

60U16

52

252

174

11+9

25

78

308

192

150U2

116

588

429

3831+6

159

653

647

61+5

236

194

170

587

587

587

42

38

3534

72

63

6039

187

125

107

18

62

138

82

69

13

56

197

191

189

3151U26

5310U6

43

67

29

15u

38

193

131

11912

62

18

18

18

22

127 101

85

16

26

54

38

2810

16

257

216

19521

41

438

438

1+38

209

168

11+5

23

41

445

445

U 5

2812102

16

225

192

167

25

16

225

192

167

25

33

73.8

65.3

63.3

72.7 88.1

90.1

93.6

93.8

92.6

83.0

57.0

49.2 U6.1+

62.7

77.3

94.4

93.5 

93.1+

93.9

97.0

95.5

95.4 

95.1+

100.0

100.0

95.5

94.6

93.9

100.0

100.0

93.8

93.8

93.8

88.9

87.0

89.8

80.0

91.2

99.2

98.9

98.7

100.0

100.0

97.8

97.0

96.2

100.0

99.1

94.4

93.5 

93.1+

93.9

97.0

95.5

95.4 

95.1+

100.0

100.0

95.5

94.6

93.9

100.0

100.0

93.8

93.8

93.8

17.6

18.8 20.0

7.1

16.7 20.0

100.0

100.0

100.0

M ontana....................................

All banks.................................

Unit banks..........................

Banks operating branches. 

Branches..................................

I ll 111111

111111111

111111111

111111111

43

43US

100.0

100.0

100.0

100.0

100.0

100.0

IDCONUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
CO

T a b le 104. N u m b e r OF O p e r a t in g B a n k in g O f f ic e s , D e c e m b e r 31, 1939— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

All banking offices Commercial banking offices Mutual savings banking 

offices

Insured banking offices 

as percentage of—

Insured Commercial

banking

offices

Mutual

savings

banking

offices

Total Insured Noninsured Total Total

Members F. R. 

System

Not

members Noninsured Total Insured Noninsured

All

banking

offices

National State F. R.

System

425

423

U21

2

366 59 425 366 137 13 216 59 86.1 86.1

364 59 423 364 135 13 216 59 86.1 86.1

Unit banks 362 59 U21

2

362 133 13 216 59 86.0 86.0

Banks operating branches 2 2 2 100.0 100.0

Branches 2 2 2 2 2 100.0 100.0

Nevada 22 22 22 22 17 1 4 100.0 100.0

All banks 11 11 11 11 6 1 4 100.0 100.0

Unit banks 9 9 9 9 U 1 4 100.0 100.0

Banks operating branches 2 2 2 2 2 100.0 100.0

Branches 11 11 11 11 11 100.0 100.0

N ew H am pshire 110 57 53 66 57 53 1 3 9 44 44 51.8 86.4

All banks 107 56 51 64 56 52 1 3 8 43 43 52.3 87.5

Unit banks ........................................... 10 h

3

55 U9

2

62 55 51 1 3 7 J+2 U2 52.9 88.7

Banks operating branches 1 2 1 1 1 1 1 33.3 50.0

Branches 3 1 2 2 1 1 1 1 1 33.3 50.0

N ew Jersey..................................................... 505 486 19 477 471 259 108 104 6 28 15 13 96.2 98.7 53.6

All banks...................................................... 386 369 17 362 356 226 51 79 6 24 13 11 95.6 98.3 54.2

Unit banks............................................... 333 317 16 312 306 208 30 68 6 21 11 10 95.2 98.1 52.k

Banks operating branches 53 52 1 50 50 18 21 11 3 2 1 98.1 100.0 66.7

Branches ................................................. 119 117 2 115 115 33 57 25 4 2 2 98.3 100.0 50.0

New M exico 47 46 1 47 46 22 5 19 1 97.9 97.9

All banks 41 40 1 41 40 22 5 13 1 97.6 97.6

Unit banks 37 36 1 37 36 22 5 9 1 97.3 97.3

Banks operating branches U

6

h

6

4 •4 U 100.0 100.0

Branches 6 6 6 100.0 100.0

New Y o r k ........................................................ 1,575

885

1,384

738

191 1,391 1,374

734

621 526 227 17 184 10 174 87.9 98.8 5.4

All banks...................................................... 147 751 437 126 171 17 134 4 130 83.4 97.7 3.0

Unit banks............................................... 757 6U8 109 662 6U7 U09 8U 15 U 15 95 1 9U 85.6 97.7 1.1

Banks operating branches.....................

Branches.......................................................

128

690

90

646

38

44

89

640

87

640

28

184

U2

400

17

56

2 39

50

3

6

36

44

70.3

93.6

97.8

100.0

7.7

12.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
353 344 9 353 344

227 2207 227 220

181+

U3

126

178

6 181+

U3

126

178

Banks operating branches..................... U2

124

12

U2

124

190 177 13 190 177

170 157 13 170 157

156 11+3U

20

13 156 11+3

11*

20

n

20

n

20

Ohio ................................................................ 873 854 19 870 851

704 685 19 701 682

665 61+6

39

19 662 61+3

39 39 39

169 169 169 169

393 381 12 393 381

393 381 12 393 381

Unit banks............................................... 393 381 12 393 381

Banks operating branches.....................

Branches ...............................................

Oregon ........................................................ 141 139

2 140 138

All banks...................................................... 74 72

2 73 71

Unit banks............................................... 70 68 2 69 67

Banks operating branches.....................

b 1* L L

Branches....................................................... 67 67 67 67

Pennsylvania................................................. 1,211

1,095 

1,01+6

U9

116

1,171

1,066

1,022U

105

40 1,191

1,088

1,01+3

1+5

103

1,160

1,062

1,020

1+2

All banks...................................................... 29

Unit banks............................................... 21+

Banks operating branches.....................

5

B ran ch es..................................................... 11 98

Rhode Island................................................ 72 44 28 61 44

All banks ................................................... 32 16 16 23 16

Unit banks............................................... 20 10 10 12 10

Banks operating branches..................... 12 6 6 11

6

Branches ................................................... 40 28 12 38 28

South Carolina............................................ 173 134 39 173 134

All banks...................................................... 151 112 39 151 112

Unit banks............................................... 11+56

106 39 11+56

106

Banks operating branches............

66

Branches....................................................... 22 22 22 22

49 17

42

9

39

7

3

2

7

8

50

50

50

279 212

244 100

236 85 8 15

35 112

211

9

211

9

211

9

92

7

27

7

25

7

2

65

732 122

693 82

675 69

18 13

39 40

20 21

12

2

9

3 2 8 19

35

6

205

19 1*

1 1

15

1

278

169

132

37

109

127

107

93u

20

360

338

322

1622

161

161

161

97.5 97.5

96.9 96.9

96.7 96.7

97.7 97.7

98.4 98.4

93.2 93.2

92.4 92.4

91.7 91.7

100.0 100.0

100.0 100.0

97.8 97 8

97.3 97.3

97.1 97.1

100.0 100.0

100.0 100.0

96.9 96.9

96.9 96.9

96.9 96.9

98.6 98.6

97.3 97.3

97.1 97.1

100.0 100.0

100.0 100.0

96.7 97.4

97.4 97.6

97.7 97.8

89.8 93.3

90.5 95.1

61.1 72.1

50 0 69.6

50.0 83.3

50.0 51+-5

70.0 73.7

39

37

35

306

287

27611

1932111

93

87

83

39

11

77.5

74.2

73.1 100.0 100.0

77.5

74.2

73.1 100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

55.0

57.1 66.6

50.0

53.8

NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 104. N u m b e r OF O p e r a t i n g B a n k i n g O f f i c e s , D e c e m b e r 31, 1939— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

All banking offices Commercial banking offices

Insured

Commercial

banking

M utual 

savings 

banking Total Insured Noninsured Total Total

Members F. R.

System

Not

members Noninsured Total Insured Noninsured

All

banking

offices

National State F. R.

System

offices offices

197

165

151

1U

32

196

164

150

iu

32

1 197 196 61 23 112 1 99.5 99.5

1 165 164 41 23 100 1 99.4 99.4

Unit banks 1 151 150 37 23 90 1 99.3 99.3

Banks operating branches U

32

1U

32

10 100.0 100.0

Branches 20 12 100.0 100.0

X ennessee 349

300

340

291

9 349 340 88 16 236 9 97.4 97.4

All banks. . . . . . . . 9 300 291 71 6 214 9 97.0 97.0

Unit banks 281 272 9 281 272 6V 5 200 9 96.8 96.8

Banks operating branches 19 19 19 19 u 1 H

22

100.0 100.0

Branches 49

858

858

858

49 49 49 17 10 100.0 100.0

T exas. . . 779

779

779

79 858 779 445 56 278 79 90.8 90.8

All banks 79

79

858 779 445 56 278 79 90.8 90.8

Unit banks 858 779 UU5 56 278 79 90.8 90.8

Banks operating branches

Branches

Utah ................................................. 71 71 71 71 21 20 30 100.0 100.0

All banks...................................................... 59 59 59 59 13 20 26 100.0 100.0

Unit banks............................................... 5b

5

5U

5

5U

5

5U

5

11 20 23 100.0 100.0

Banks operating branches..................... 2 3 100.0 100.0

B ran ch es..................................................... 12 12 12 12 8 4 100.0 100.0

Verm ont.......................................................... 104 104 87 87 44 43 17 17 100.0 100.0 100.0

All banks...................................................... 83 83 75 75 42 33 8 8 100.0 100.0 100.0

Unit banks ............................................. 7U

9

7 U

9

67 67 U0

2

27 7 100.0 100.0 100.0

Banks operating branches..................... 8 8 6 1 1 100.0 100.0 100.0

Branches....................................................... 21 21 12 12 2 10 9 9 100.0 100.0 100.0

Virginia........................................................... 386 385 1 386 385 144 39 202 1 99.7 99.7

All banks...................................................... 314 313 1 314 313 130 32 151 1 99.7 99.7

Unit banks............................................... 27 U

UO

72

273 1 27 k

U0

72

273 12 U 29 120 1 99.6 99.6

Banks operating branches..................... U0

72

UO 6 3 31 100.0 100.0

Branches....................................................... 72 14 7 51 100.0 100.0

Mutual savings banking 

offices

Insured banking offices 

as percentage of—

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
W ashington..............................

All banks................................

Unit banks..........................

Banks o-perating branches.

Branches..................................

West Virginia..........................

All banks................................

Unit banks..........................

Banks operating branches.

Branches.................................

Wisconsin..................................

All banks................................

Unit banks..........................

Banks operating branches.

Branches.................................

W yom ing...................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

Possession

Alaska.........................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches.................................

Hawaii........................................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

Puerto Rico..............................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

Virgin Islands.........................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

225

141

132

9

84

181

180

1791

1

701

575 W81

126

58

58

58

221

137

128

9

84

174

173

1721

1

688

563

1*83

80

125

58

58

58

222

138

129

9

84

181

180

1791

1

697

571

U90

81

126

58

58

58

218

134

125

g

126

45

39

6

16

15

n

i

76

74

72

4 3 3 98.2 98.2 100.0

4 3 3 97.2 97.1 100.0

4 3 3 97.0 96.9 100.0

2 100.0 100.0

84

174

173

172

i

81

77

77

77

i 2 100.0 100.0

19

19

19

78

77

76

1

7 96.1 96.1

7 96.1 96.1

7 96.1 96.1

100.0 100.0

1 1 100.0 100.0

685

560

1*80

80

125

58

58

119

105

102

3

35

29

25

4

531

426

353

73

105

23

23

12

11

10

1

4

4

h

3

3

3

1

1

1

98.1

97.9

97.8

98.8

98.3

98.1

98.0

98.8

75.0

75.0

75.0

14

26

26

26

6 1 99.2 99.2

9 100.0 100.0

9 100.0 100.0

58 9 23 100.0 100.0

2 2 14 12.5 12.5

2 2 13 13.3 13.3

2 2 12 1U-2 lJf.,2

1

1

2 2 39 4.9 4.9

1 1 6 14.3 14.3

U

1

1

1 33.3 33.3

1 33 2.9 2.9

30

12

6

6

18

3 3 1 75.0 75.0

1 1 1 50.0 50.0

1

1

2

1 100.0 100.0 .............

2 100.0 100.0

Back figures— See the following Annual Reports: 1938, p. 126; 1937 p. 73; 1936, p. 105; 1935, pp. 122-131. CO-3NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
<r>

oo

Table 105. N u m b e r OF OPERATING BANKING OFFICES, JUNE 30, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS

All banking offices

Insured

Total Insured Noninsured Total

Total

Members F. R. 

System

Not 

members 

F. R.

System

Noninsured

National State

All banking offices........................................... 18,812 17,075 1,737 18,128 17,009 6,725 2,120 8,164 1,119

W ith deposits o f—

$100,000 or less................................................. 1,019 706 313 1,019 706 35 11 660 313

$100,000 to $250,000....................................... 3,157 2,841 316 3,153 2,840 423 92 2,325 313

$250,000 to $500,000...................................... 3,564 3,418 146 3,557 3,415 1,101 232 2,082 142

$500,COO to $1,000,000................................... 3,519 3,414 105 3,495 3,408 1,603 371 1,434 87

$1,000,000 to $2,000,000................................ 2,812 2,733 79 2,756 2,722 1,527 387 808 34

$2,000,000 to $5,000,000................................ 2,190 2,040 150 2,053 2,024 1,171 453 400 29

$5,000,000 to $10,000,000.............................. 772 666 106 664 656 396 169 91 8

$10,000,000 to $50,000,000............................ 566 433 133 430 422 265 111 46 8

More than $50,000,000.................................. 129 113 16 106 105 71 31 3 1

None or not available1.................................... 1,084 711 373 895 711 133 263 315 184

Unit banks....................................................... 14,110 12,709 1,401 13,638 12,666 5,006 965 6,695 972

W ith deposits of—

$100,000 or less............................................ 820 507 313 820 507 29 6 472 313

$100,000 to $250,000.................................. 2,803 2,487 316 2,799 2,486 395 68 2,023 313

$250,000 to $500,000.................................. 3,133 2,987 146 3,127 2,985 933 183 1,869 142

$500,000 to $1,000,000............................... 2,880 2,775 105 2,857 2,770 1,278 238 1,254 87

$1,000,000 to $2,000,000............................ 2.034 1,955 79 1,983 1,949 1,106 172 671 34

$2,000,000 to $5,000,000............................ 1,473 1,323 150 1,339 1,310 820 175 315 29

$5,000,000 to $10,000,000........................ 503 397 106 397 389 258 70 61 8

$10,000,000 to $50,000,000....................... 366 233 133 237 229 160 42 27 8

More than $50,000,000.............................. 56 40 16 37 36 27 8 1 1

None or not available................................. 42 5 37 42 5 3 2 37

Commercial banking offices Mutual savings banking offices

Non­ Total Insured insured

684 66 618

4 1 3

7 3 4

24 6 18

56 11 45

137 16 121

108 10 98

136 11 125

23 8 15

189 189

472 43 429

4 1 3

6 2 4

23 5 18

51 6 45

134 13 121

106 8 98

129 4 125

19 4 15

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
All offices of banks operating branches

W ith deposits of—

$100,000 or less.............................................

$100,000 to $250,000..................................

$250,000 to $500,000..................................

$500,000 to $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 $50,000.000.......................

More than $50,000,000..............................

None or not available1................................

Head offices of banks operating

branches..........................................

W ith deposits of—

$100,000 or less........................................

$100,000 to $250,000..............................

$250,000 to $500,000..............................

$500,000 to $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 $50,000,000...................

More than $50,000,000..........................

None or not available1............................

Branches.......................................................

With deposits of—

$100,000 or less........................................

$100,000 to $250,000..............................

$250,000 to $500,000..............................

$500,000 to $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 $50,000,000...................

More than $50,000,000..........................

None or not available1............................

4,702 4,366

199 199

354 354

431 431

639 639

778 778

717 717

269 269

200 200

73 73

1,042 706

1,027 911

9 9

57 57

99 99

103 103

86 86

96 96

85 85

91 91

56 56

345 229

3,675 3,455

190 190

297 297

332 332

536 536

692 692

621 621

184 184

109 109

17 17

697 477

336

116

220

220

4,490 4,343 1,719 1,155 1,469

199 199 6 5 188

354 354 28 24 302

430 430 168 49 213

638 638 325 133 180

773 773 421 215 137

714 714 351 278 85

267 267 138 99 30

193 193 105 69 19

69 69 44 23 2

853 706 133 260 313

947 9C5 197 162 546

9 9 1 8

57 57 57

99 99 1 98

103 103 3 100

86 86 10 6 70

96 96 32 21 43

83 83 40 24 19

88 88 42 31 15

55 55 33 20 2

271 229 36 59 134

3,543 3,438 1,522 993 923

190 190 6 4 180

297 297 28 24 245

331 331 167 49 115

535 535 322 133 80

687 687 411 209 67

618 618 319 257 42

184 184 98 75 11

105 105 63 38 4

14 14 11 3

582 477 97 201 179

147 212

42

42

105

1

1

5

3

2

7

4

189

4

3

115

23 189

189

74

115

1 Deposits of head offices and of branches of noninsured banks operating branches, and of 228 insured banks operating branches, are not available separately. 

N OTE: For deposits of these banks, see Table 111.

Back figures— See the following Annual Reports: 1938, p. 136; 1937, p. 80; 1936, p. 112.

coCONUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
o 

o

Table 106. N u m b e r OF OPERATING BANKS, JUNE 30, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF BANK AND AMOUNT OF DEPOSITS

All banks Commercial banks Mutual savings banks Insured banks 

as percentage of—

Insured

Commercial Total Insured Noninsured Total Total Members F. R. 

System

Not 

members 

F. R.

System

Noninsured Total Insured Noninsured All

banks

Mutual

savings

banks

National State banks

All banks ............................................................ 15,137 13,620 1,517 14,585 13,571 5,203 1,127 7,241 1,014 552 49 503 90.0 93.0 8.9

W ith deposits of—

(fclAA OOO AT lpaq 821

2,842

508 313 821 508 29 6 473 313 61.9 61.9

$100 000 to $250,000......................................... 2,524 318 2,838 2,523

3,105

395 68 2,060 315 4 1 3 88.8 88.9 25.0

$250 000 to $500,000 ....................................... 3,259

3,036

2,171

1,605

627

3,107 152 3,253 933 184 1,988 148 6 2 4 95.3 95.5 33.3

$500 000 to $1,000,000..................................... 2,925 111 3,012 2,920 1,281 239 1,400 92 24 5 19 96.3 96.9 20.8

$1 000 000 to $2,000,000.................................. 2,083 88 2,119 2,077 1,115 176 786 42 52 6 46 95.9 98.0 11.5

$2*000 000 to $5,000,000 ................................ 1,440 165 1,461 1,427 851 192 384 34 144 13 131 89.7 97.7 9.0

$5 000 000 to $10 000,000................................ 509 118 513 501 309 109 83 12 114 8 106 81.2 97.7 7.0

$10 000 000 to $50,000,000.............................. 561 388 173 395 380 220 101 59 15 166 8 158 69.2 96.2 4.8

More than $50 000,000..................................... 170 130 40 128 124 70 48 6 4 42 6 36 76.5 96.9 14.3

45

14,110

6 39

1,401

45 6 4 2 39 13.3 13.3

12,709 13,638 12,666 5,006 965 6,695 972 472 43 429 90.1 92.9 9.1

W ith deposits of—

d*"1 aa OOO ni* Ipqq 820 507 313 820 507 29 6 472 313 61.8 61.8

$100 000 to $250,000 .................................. 2,803

3,133

2,880

2,487 316 2,799 2,486 395 68 2,023 313 4 1 3 88.7 88.8 25.0

$250*000 to $500,000..................................... 2,987 146 3,127 2,985 933 183 1,869 142 6 2 4 95.3 95.5 33.3

$500 000 to $1,000,000................................. 2,775 105 2,857 2,770 1,278 238 1,254 87 23 5 18 96.4 97.0 21.7

$1 000 000 to $2,000,000 ............................. 2,034

1,473

1,955 79 1,983 1,949 1,106 172 671 34 51 6 45 96.1 98.3 11.8

$2*000 000 to $5,000,000.............................. 1,323 150 1,339 1,310 820 175 315 29 134 13 121 89.8 97.8 9.7

$5 000 000 to $10 000,000 .......................... 503 397 106 397 389 258 70 61 8 106 8 98 78.9 98.0 7.5

$10 000 000 to $50 000,000 ........................ 366 233 133 237 229 160 42 27 8 129 4 125 63.7 96.6 3.1

More than $50 000,000................................. 56 40 16 37 36 27 8 1 1 19 4 15 71.4 97.3 21.1

42 5 37 42 5 3 2 37 11.9 11.9

1

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks operatin g branch es 

W ith deposits o f—

$100,000 or less...................

$100,000 to $250,000.........

$250,000 to $500,000.........

$500,000 to $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 $50,000,000 

More than $50,000,000 . . . 

None or not available. . . .

1,027 911 116 947 905 197

1 1 1 1

39 37 2 39 37

126 120 6 126 120

156 15C 6 155 150 3

137 128 9 136 128 9

132 117 15 122 117 31

124 112 12 116 112 51

195 155 40 158 151 60

114 90 24 91 88 43

3 1 2 3 1

NOTE: For deposits of these banks, see Table 112.

Back figures— See the following Annual Reports: 1938, p. 138; 1937, p. 82; 1936, p. 112.

162 546 42 80 6 74 88.7 95.6

1 100.0 100.0

37 2 94.9 94.9

1 119 6 95.2 95.2

1 146 5 1 1 96.2 96.8

4 115 8 1 1 93.4 94.1

17 69 5 10 10 88.6 95.9

39 22 4 8 8 90.3 96.6

59 32 7 37 4 33 79.5 95.6

40 5 3 23 2 21 78.9 96.7

1 2 33.3 33.3

NUMBER OF BANKING OFFICES 101

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
o

to

T a b le 107. N umber OF OPERATING B an k s, June 30, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS

All banks Commercial banks Mutual savings banks

Insured

Total Insured Noninsured Total Total

Members F. R. 

System

Not 

members 

F. R.

System

Noninsured Total Insured Noninsured

National State

United States and possessions— total. . . . 15,137 13,620 1,517 14,585 13,571 5,203 1,127 7,241 1,014 552 49 503

United States . . . . ............................ 15,103

34

13,616

4

1,487

30

14,551

34

13,567

4

5,203 1,127 7,237

4

984 552 49 503

Possessions............... .......................... 30

State

A la b a m a..................... .......................... 216 208 8 216 208 67 16 125 8

A rizon a ........................ .......................... 12 12 12 12 5 2 5

A rkansas................. .......................... 214 208 6 214 208 49 7 152 6

California ............... .......................... 209 202 7 209 202 101 15 86 7

Colorado ...................... ...................... 144 137 7 144 137 78 12 47 7

Connecticut.................................................... 193 102 91 120 102 53 5 44 18 73 73

Delaware ...................................................... 46 42 4 44 42 15 4 23 2 2 2

District of Colum bia................................... 22 22 22 22 9 4 9

Florida............................................................ 164 161 3 164 161 52 4 105 3

Georgia ...................................................... 347 266 81 347 266 52 18 196 81

Idaho .......................................................... 50 48 2 50 48 18 10 20 2

Illinois............................................................. 852 835 17 852 835 324 77 434 17

Indiana............................................................ 509 479 30 505 476 126 20 330 29 4 3 1

Iowa .................................................... 659 583 76 659 583 109 35 439 76

Kansas............................................................ 680 456 224 680 456 182 20 254 224

Kentucky........................................................ 408 373 35 408 373 96 13 264 35

Louisiana........................................................ 146 145 1 146 145 30 7 108 1

M aine.............................................................. 102 67 35 70 61 39 5 17 9 32 6 26

Maryland........................................................ 189 177 12 177 175 63 11 101 2 12 2 10

Massachusetts............................................... 392 193 | 199 200 193 126 29 38 7 192 192

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
M ichigan...........

Minnesota.........

Mississippi.........

Missouri.............

M ontana............

Nebraska...........

Nevada...............

New Hampshire 

New Jersey. . . . 

New M exico... .

New Y o r k .........

North Carolina. 

North Dakota. .

O hio....................

Oklahoma..........

Oregon................

Pennsylvania. . . 

Rhode Island.. . 

South Carolina. 

South D akota. .

Tennessee...........

Texas..................

U tah....................

Verm ont.............

Virginia..............

Washington 

West Virginia. .

W isconsin...........

W yom ing...........

N OTE: For deposits of these banks,

463 431 32 463

681 649 32 680

205 194 11 205

629 590 39 629

113 113 113

426 367 59 426

11 11 11

107 56 51 64

389 372 17 365

41 40 1 41

888 740 148 754

227 220 7 227

172 159 13 172

705 686 19 702

396 382 14 396

74 72 2 73

1,096 1,065 31 1,089

32 16 16 23

150 109 41 150

166 165 1 166

299 290 9 299

863 781 82 863

59 59 59

83 83 75

314 313 1 314

144 140 4 141

180 173 7 180

578 566 12 574

58 58 58

Table 113.

431 82 129 220

648 192 13 443

194 24 1 169

590 87 56 447

113 43 24 46

367 136 13 218

11 6 1 4

56 52 1 3

359 226 51 82

40 22 5 13

736 437 125 174

220 42 9 169

159 50 109

683 244 82 357

382 214 8 160

71 27 7 37

1,063 694 80 289

16 12 2 2

109 20 4 85

165 42 21 102

290 71 6 213

781 446 56 279

59 13 20 26

75 42 33

313 130 28 155

137 46 15 76

173 78 18 77

563 105 29 429

58 26 9 23

32

32 1 1

11

39

59

8 43 43

6

1

24 13 ! 11

18

7

134 4 130

13

19 3 3

14

2 1 1

26

7

7

9

2 5

9

41

1

9

82

8 8

1

4 3 3

7

11 4 3 1

O

CONUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. N u m b e r OF OPERATING COMMERCIAL BANKS, JUNE 30, 1939

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS

United States and possessions— total.

Insured banks.............................................

Noninsured banks......................................

United States.........

Insured banks. . . . 

Noninsured banks.

Possessions..............

Insured banks........

Noninsured banks.

State

Alabam a..........................

Insured banks.............

Noninsured banks...

Arizona............................

Insured banks.............

Noninsured banks. .. .

Arkansas.........................

Insured banks.............

Noninsured banks... .

California.....................

Insured banks.............

Noninsured banks.. . .

Colorado..........................

Insured banks.............

Noninsured banks. . . .

Connecticut..................

Insured banks.............

Noninsured banks. . . .

Delaware.........................

Insured banks.............

Noninsured banks. .. .

District of Colum bia.

Insured banks.............

Noninsured banks. . . .

All

banks

14,585

13,571

1,014

14,551

13,567

984

34

4

30

216

208

214

2086

209 202

7

144

137

7

120102

18

44

422

2222

Banks with deposits of—

$ 100,000

or less

821

508

313

819

508

311

29

26

3

2

1

1

7

6

1

$ 100,000

to

$250,000

2,838

2.523 

315

2,836

2.523 

313

69

672

8

7

1

29

26

3

7

6

1

5

3

2

$250,000

to

$500,000

3,253

3.105 

148

3,249

3.105 

144

60

591

1

1

46

451

33

33

38

362

116

5

9

9

$500,000

to

$1,000,000

3,012

2.920 

92

3,009

2.920 

89

39

381

2

2

38

38

60

60

27

261

15

132

13

13

$1,000,000

to

$2 ,000,000

2,119

2,077

42

2,112

2,075

37

7

2

5

36

351

2222

29

272

6

6

$2,000,000

to

$5,000,000

1,461

1,427

34

1,452

1,425

27

34

322

1010

32

28

4

5

5

$5,000,000 

to

$10,000,000

513

50112

509

501

12111

1

1

$10,000,000

to

$50,000,000

More than 

$50,000,000

395

380

15

393

380

13

2

. . _ .

128

124

4

127

124

None or 

not 

available

456

39

456

39

OFEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
F lorid a .......................

Insured banks. . . . 

Noninsured banks.

G e o r g ia ....................

Insured banks. . . . 

Noninsured banks.

Id a h o ..........................

Insured banks. . . . 

Noninsured banks.

Illin o is .......................

Insured banks 

Noninsured banks.

In d ia n a .....................

Insured banks 

Noninsured banks.

Io w a ............................

Insured banks 

Noninsured banks.

K an sas.......................

Insured banks 

Noninsured banks.

K e n tu ck y .................

Insured banks 

Noninsured banks

L o u isia n a .................

Insured banks 

Noninsured banks

M ain e........................

Insured banks 

Noninsured banks

M a ry la n d .................

Insured banks 

Noninsured banks.

M assachu setts 

Insured banks 

Noninsured banks.

M ichigan..................

Insured banks 

Noninsured banks.

M in n esota ...............

Insured banks 

Noninsured banks.

M ississippi...............

Insured banks 

Noninsured banks.

164

5 26 32

161 4 26 32

3 1

347 79 98 64

266 32 80 64

81 47 18

50 2 11 11

48 2 11 11 2

852 21 150 199

835 16 148 197

17 5 2

2

505 9 104 134

476 6 91 126

29 3 13

8

659 10 121 218

583 3 95 196

76 7 26 22

680 105 250 153

456 30 157 118

224 75 93 35

408 29 113 95

373 15 101 93

35 14 12

2

146 5 18 25

145

5 18 24

1 1

70 1

5

61 3

9 1

2

177 1 22 43

175

1 22 43

2

200

1

2 12

193

1

2 11

7

1

463 5 62 139

431 1 54 128

32

4 8 11

680 29 186 213

648 16 176 209

32 13 10

4

205 15 38 53

194 13 36 50

11 2 2

3

40

391

31

301

15

15

7777

11

44 26 15

3

2

2 14

42 26 15 32

2

2 14

13 5 5 1 2

12 5 4 12

1 1

203 108 91 47 26

6

1

199 106 90 46 26 6 1

4 2 1 1

104 82 47 9 15

1

102 81 45

9 15

1

2

1

2

166 98 25 11

6

4

155 93 24 11

6

11

5

1

4

92 49 234

4

76 44 23

4

4

16

5

85 53 20

6

6

1

79 52 20 6

6

1

6

1

44 28 13

4

6

3

44 28 13

4

6

3

14 18 20 10

2

12 17 189

2

2

1 2 1

39 35 18

9

9

1

39 35 18 9

7

1

2

32 41 58 28 19

5

2

31 40 57 28 17

5

1

1 1 1

2

1

106 63 48 19 13

4

4

104 61 48 19 12

4

2

2 1 4

153 62 23 7 4 3

152 59 22 7 4 3 1 3 1

50 29 13

6

1

46 29 13

6

1

4

NUMBER OF BANKING OFFICES 105

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. N u m b e r OF Op e r a t in g C o m m e r c ia l B a n k s , Ju n e 30, 1939— Continued

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS

M issouri...................

Insured banks 

Noninsured banks.

M ontana...................

Insured banks 

Noninsured banks.

Nebraska...................

Insured banks. . . . 

Noninsured banks.

Nevada.......................

Insured banks. . . . 

Noninsured banks.

New Hampshire. . .

Insured banks. . . . 

Noninsured banks.

New Jersey...............

Insured banks. . . . 

Noninsured banks.

New Mexico.............

Insured banks. . . . 

Noninsured banks.

New Y ork.................

Insured banks. . . . 

Noninsured banks.

North Carolina.. . .

Insured banks. . . . 

Noninsured banks.

North D akota.........

Insured banks. . . . 

Noninsured banks.

Ohio............................

Insured banks. . . . 

Noninsured banks.

Oklahom a................

Insured banks. . . . 

Noninsured banks.

All

banks

629

590

113

113

426

367

59

1111

64

568

365

3596

41

401

754

736

18

227 220

7

172

159

13

702

683

19

396

382

14

Banks with deposits o f-

$100,000

or less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

None or 

not 

available

81 196 135 94 53 37 17 10 6

63 179 132 93 53 37 17 10 6

18 17 3 1

2 27 31 28 9 11 3 2

2 27 31 28 9 11 3 2

67 168 105 49 19 10 1 7

34 147 102 48 18 10 1 7

33 21 3 1 1

4 3 2 1 1

4 3 2 1 1

1 7 12 19 12 9 4

5 11 16 12 8 4

1 2 1 3 1

2 3 19 68 113 92 33 32 3

2 18 66 113 92 33 32 3

2 1 1 2

4 12 9 11 2 2 1

4 11 9 11 2 2 1

1

3 28 100 171 166 154 62 38 32

25 99 170 165 149 62 37 29

3 3 1 1 1 5 1 3

14 47 53 41 39 21 5 5 2

11 45 53 40 39 21 4 5 2

3 2 1 1

37 70 38 10 9 6 1 1

29 68 36 10 9 6 1

8 2 2 1

4 76 166 181 134 87 28 17 9

2 67 159 180 134 87 28 17 9

2 9 7 1

29 123 123 56 34 20 6 2 3

27 112 122 56 34 20 6 2 3 ! ............

2 11 1 !

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Oregon.......................

Insured banks. . . . 

Noninsured banks.

Pennsylvania..........

Insured banks. . . . 

Noninsured banks.

Rhode Island..........

Insured banks. . . . 

Noninsured banks.

South Carolina. . . .

Insured banks. . . . 

Noninsured banks.

South Dakota.........

Insured banks. . . . 

Noninsured banks.

Tennessee.................

Insured banks. . . . 

Noninsured banks.

Texas..........................

Insured banks. . . . 

Noninsured banks.

U tah...........................

Insured banks. . . . 

Noninsured banks.

Verm ont...................

Insured banks. . . . 

Noninsured banks.

Virginia.....................

Insured banks. . . . 

Noninsured banks.

W ashington.............

Insured banks 

Noninsured banks.

West Virginia.........

Insured banks 

Noninsured banks.

Wisconsin.................

Insured banks 

Noninsured banks.

W yom ing.................

Insured banks 

Noninsured banks.,

73

712

1,089

1,063

26

23

16

7

150

109

41

166

1651

299

290

9

863

781

82

59

59

314

3131

141

137

4

180

173

7

574

56311

58

58

1 20 17 15 12 4 1 1 2

20 17 15 12 3 1 1 2

1 1

4 53 148 264 260 238 62 38 14 8

1 50 146 257 256 238 61 37 14 3

3 3 2 7 4 1 1 5

1 3 5 5 3 4 2

1 3 1 4 3 2 2

4 1 2

43 36 25 22 12 8 2 2

17 27 24 18 12 7 2 2

26 9 1 4 1

21 75 41 13 8 5 2 1

21 75 41 12 g 5 2 1

1

29 97 67 53 28 12 3 8 2

27 92 67 52 27 12 3 8 2

2

g 1 1

79 211 212 164 87 49 21 26 3 11

56 186 197 159 86 48 20 26 3

23 25 15 5 1 1 1 11

7 17 18 8 2 1 6

7 17 18 8 2 1 6

3 15 18 19 18 2

3 15 18 19 18 2

4 43 71 87 61 31 10 5 2

4 42 71 87 61 31 10 5 2

1

6 30 42 27 14 8 8 4 2

5 29 42 27 14 7 7 4 2

1 1 1 1

4 18 42 51 33 23 5 4

1 17 40 51 33 22 5 4

3 1 2 1

10 109 144 147 94 52 11 6 1

9 107 140 143 94 52 11 6 1

1 2 4 4

3 6 16 18 8 4 3

3 6 16 18 8 4 3

NOTE: For deposits of these banks, see Table 114.

Back figures— See the following Annual Reports: 1938, p. 140; 1937, p. 84; 1936, p. 114; 1935, p. 132.

NUMBER OF BANKING OFFICES 107

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 109. N u m b e r OF OPERATING M U TU AL SAVINGS BANKS, JUNE 30, 1939

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE

Banks with deposits of—

banks $100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

United States— total........................................................... 552 4 6 24 52 144 114 166 42

49 1 2 5 6 13 8 8 6

Noninsured banks................................................................ 503 3 4 19 46 131 106 158 36

State

Connecticut........................................................................ 73 3 8 24 17 20 1

Insured banks...................................................................

Noninsured banks............................................................ 73 3 8 24 17 20 1

Delaware............................................................................... 2 1 1

Insured banks...................................................................

Noninsured banks............................................................ 2 1 1

Indiana ............................................................................... 4 1 1 2

Insured banks................................................................... 3 1 1 1

Noninsured banks............................................................ 1 1

M aine..................................................................................... 32 1 5 9 11 4 2

Insured banks................................................................... 6 3 2 1

Noninsured banks............................................................ 26 1 2 9 9 3 2

Maryland ........................................................................... 12 1 2 2 1 4 2

Insured banks.................................................................. 2 2

Noninsured b a n k s .......................................................... 10 1 2 1 4 2

Massachusetts................................................................... 192 2 7 13 55 50 59 6

Insured banks...................................................................

Noninsured banks............................................................ 192 2 7 13 55 50 59 6

Minnesota........................................................................... 1 1

Insured banks................................................................... 1 1

Noninsured banks............................................................

New Hampshire................................................................ 43 7 10 18 4 4

Insured banks...................................................................

Noninsured banks............................................................ 43 7 10 18 4 4

108 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
N ew Jersey.................................................................. 24 1 2 3 7 10

5

1

Insured banks.................................................................. 13 1 1 2 4

Noninsured banks........................................................... 11 1 1 3 5 1

New Y o r k ............................................................................. 134 5 22 25 57

1

25

Insured banks.................................................................. 4 3

Noninsured banks........................................................... 130 5 22 25 56 22

O h io ...................................................... 3 1 1 1

Insured banks.................................................................. 3 1 1 1

Noninsured banks...........................................................

O regon .................................................................................. 1 1

Insured banks.................................................................. 1 1

Noninsured banks...........................................................

P enn sylvania...................................................................... 7 2 2 3

Insured banks.................................................................. 2 2

Noninsured banks........................................................... 5 2 3

R h od e Isla n d ............................................................. 9 1 1 1 5 1

Insured banks..................................................................

Noninsured banks........................................................... 9 1 1 1 5 1

V e rm o n t............................................................................... 8 1 2 2 1 2

Insured banks.................................................................. 8 1 2 2 1 2

Noninsured banks...........................................................

W ash in g ton ........................................................................ 3 2 1

Insured banks.................................................................. 3 2 1

Noninsured banks...........................................................

W iscon sin ............................................................................ 4 1 1 1 1

Insured banks...................................................... 3 1 1 1

Noninsured banks........................................................... 1 1

NOTE: For deposits of these banks, see Table 115.

Back figures—See the following Annual Reports: 1938, p. 144; 1937, p. 88; 1936, p. 118; 1935, p. 140.

ONUMBER OF BANKING OFFICES

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Federal Reserve Bank of St. Louis
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

T a b le 110. NUMBER OF COMMERCIAL BANKS OPERATING BRANCHES AND NUMBER OF BRANCHES, JUNE 30, 1939

United States and possessions— total.

United States...........................................

Possessions.

In centers with population o f -

Less than 250.........................................

250 to 500................................................

500 to 1,000...........................................

1.000 to 2,500. . 

2,500 to 5,000. .

5.000 to 10,000 .

10.000 to 25,000.

25.000 to 50,000 .

50.000 or m ore. .

State

Alabama. . 

Arizona.. . 

Arkansas.. 

California. 

C olorado..

All

branch

systems

947

936

28

64

93

132

99

52

72

61

346

3

4 

14 

35

Character of branch system

City

wide

281

281

1

3

4

14

26

233

County

wide

423

423

21

42

57

101

74

33

31

19

45

State

wide

239

228

11

7

22

36

30

22

15

27

16 

64

In more 

than one 

State1

Location of branch

All

branches

3,543

3,488

55

124

275

299

353

239

181

164

109

1,799

20

26

15

856

In head 

office 

city

1.630

1.630

3

5

6

18

40

1,557

Elsewhere 

in head 

office 

county

762

749

13

85

174

165

117

68

48

39

19

47

Elsewhere 

in head 

office 

State

1,144

1,102

42

39

100

134

233

166

127

107

50

188

12

18

5

535

Outside

head

office

State1

Connecticut...............

Delaware......................

District of Columbia.

Florida..........................

Georgia.........................

Idaho.. 

Illinois.. 

Indiana. 

Iow a . . . 

Kansas.

13

13

30

2

26

4

2

30

11 27

80 34

61

155

241

37

114

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky.........

Louisiana.........

M aine...............

Maryland.........

Massachusetts.

Michigan. . 

Minnesota. 

Mississippi. 

Missouri. . . 

M ontana...

13

27

20

25

42

48

2

24

5

6

3 

8

29

19

2

6

20

12

11

22

16

28

53

56

77

115

162

6

42

20

22

4

36

87

128

6

6

28

28

21

26

26

2

3

24

20

2

20

Nebraska.............

Nevada.................

New Hampshire.

New Jersey.........

New M exico........

New Y o rk .........

North Carolina. 

North D akota. .

O hio....................

Oklahoma..........

35

64

4

12

122

10

146

23

1

2

1

2

12

25

2

11

2

115

6

642

124

19

170

85

602

9

126

28

4

23

31

11

39

2

1

2

14

84

Oregon................

Pennsylvania. . . 

Rhode Island. . . 

South Carolina. 

South Dakota. .

Tennessee. 

Texas. . . .

U tah.........

Vermont. . 

Virginia. . .

33

3

1

2

11

6

1

4

14

66

101

38

23

29

17 

' 2 

21

17

18

17

52

3

7

19

21

16

Washington. . . 

West Virginia.

Wisconsin........

W yom ing.........

2

5

19

1

1

51

3

13

6

23

12

12

71

801

126

1

9

32

3

1

83

3

18

60

25

1 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 

t Pennsylvania; and 2 banks m New York operate 1 branch in Massachusetts and 2 branches in Pennsylvania.

Back figures— See the following Annual Reports:

3 and 2 branches in Pennsylvania. 

1938, p. 134; 1937, p. 90; 1936, p. 120.

NUMBER OF BANKING OFFICES

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Federal Reserve Bank of St. Louis
to

DEPOSITS OF BANKING OFFICES

Table 111. D e p o s i t s OF OPERATING BANKING OFFICES, JUNE 30, 1939

OFFICES GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS

Commercial banking offices A/Tnfnol coTnnrra KonL-i*nnr

Insured

Total Insured Non­ Total

Total

Members F. R. 

System

Not 

members 

F. R.

System

Noninsured Total Insured Noninsured insured National | State

(^In thousancIs of dollars)

All ban k in g o ffic e s .................. 64,415,310 53,572,763 10,842,547 53,984,886 52,326,754 29,415,683 16,457,571 6,453,500 1,658,132 10,430,424 1,246,009 9,184,415

W ith deposits o f—

$100 000 or less 68,976

547,507

1,293,321

50,875

497,239

1,242,061

18,101

50,268

51,260

68,976

546,953

1,290,896

50,875

497,122

1,240,918

2,703

79,295

413,101

846 47,326

400,460

741,193

18,101

49,831

49,978

$100,000 to $250,000.............

$250,000 to $500,000.............

17,367

86,624

554

2,425

117

1,143

437

1,282

$500,000 to $1,000,000 

$1,000,000 to $2,000,000.. . . 

$2,000,000 to $5,000,000___

2,523,863

3,976,155

6,679,734

2,449,497

3,863,042

6,190,513

74,366

113,113

489,221

2,505,304

3,891,989

6,229,208

2,444,758

3,845,852

6,142,290

1,168,613

2,153,031

3,571,973

273,675

559,296

1,391,027

1,002,470

1,133,525

1,179,290

60,546

46,137

86,918

18,559

84,166

450,526

4,739

17,190

48,223

13,820

66,976

402,303

$5,000,000 to $10,000,000. . . 

$10,000,000 to $50,000,000 

More than $50,000,000.........

jiVciilctble^

5,340,819

11,185,866

19,827,065

12,972,004

30,149,072

55.479

486,667

1,134,016

4,581,857

8,389,276

18,395,201

7,913,202

24,365,327

37.378

436,399

1,082,756

758,962

2,796,590

1,431,864

5,058,802

5,783,745

4,561,981

8,369,697

17,658,058

8,861,824

24,557,590

4,505,651

8,171,642

17,514,444

7,913,202

23,848,080

2,720,244

5,144,197

10,963,645

3,198,881

15,552,415

1,172,214

2,225,988

6,324,073

4,406,461

3,619,308

613,193

801,457

226,726

307,860

4,676,357

56,330

198,055

143,614

948,622

709,510

778,838

2,816,169

2,169,007

4,110,180

5,591,482

76,206

217,634

880,757

702,632

2,598,535

1,288,250

4,110,180

U nit ban ks .....................

517,247 5,074,235

W ith deposits o f—

$100 000 or less 18.101

50,268

51,260

55,479

486,113

1,131,957

37,378

436,282

1,081,979

2,273

74,003

348,920

459 34,646

349,786

665,046

18,101

49,831

49,978

$100,000 to $250,000.........

$250,000 to $500,000 ....

12,493

68,013

554

2,059

117

777

437

1,282

$500,000 to $1,000,000___

$1,000,000 to $2,000,000.. 

$2,000,000 to $5,000,000. .

2,055,765

2,872,998

4,465,641

1,981,399

2,759,885

3,976,420

74,366

113,113

489,221

2,037,708

2,796,543

4,022,669

1,977,162

2,750,406

3,935,751

929,857

1,561,367

2,484,204

172,058

245,920

532,713

875,247

943,119

918,834

60,546

46,137

86,918

18,057

76,455

442,972

4,237

9,479

40,669

13,820

66,976

402,303

$5,000,000 to $10,000,000. 

$10,000,000 to $50,000,000 

More than $50,000,000 . . .

3,475,463

7,152,652

8,450,391

2,716,501

4,356,062

7,018,527

758,962

2,796,590

1,431,864

2,710,990

4,478,927

6,837,204

2,654,660

4,280,872

6,693,590

1,776,172

3,046,979

5,328,640

478,639

796,561

1,312,452

399,849

437,332

52,498

56,330

198,055

143,614

764,473

2,673,725

1,613,187

61,841

75,190

324,937

702,632

2,598,535

1,288,250

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
All offices of banks operating branches.............

With deposits of—

$100,000 or less...................

$100,000 to $250,000........

$250,000 to $500,000........

$500,000 to $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 $50,000,000 

More than $50,000,000 . . . 

Not available1.................

Head offices of banks

operating branches.

W ith deposits of—-

$100,000 or less.............

$100,000 to $250,000. . 

$250,000 to $500,000. .

$500,000 to $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 $50,000,000 

More than $50,000,000

Branches.....................

W7ith deposits of—

$100,000 or less..........

$100,000 to $250,000. 

$250,000 to $500,000.

$500,000 to $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 $50,000,000 

More than $50,000,000 . .

34,266,238

13,497

60,840

159,305

468,098

1,103,157

2,214,093

1,865,356

4,033,214

11,376,674

12,972,004

13,069,577

746

10,488

36,195

73,880

118,371

322,252

609,200

2,040,104

9,858,341

8,224,657

12,751

50,352

123,110

394,218

984,786

1,891,841

1,256,156

1,993,110

1,518,333

29,207,436

13,497

60,840

159,305

468,098

1,103,157

2,214,093

1,865,356

4,033,214

11,376,674

7,913,202

13,069,577

746

10,488

36,195

73,880

118,371

322,252

609,200

2,040,104

9,858,341

8,224,657

12,751

50,352

123,110

394,218

984,786

1,891,841

1,256,156

1,993,110

1,518,333

5,058,802

29,427,296 23,478,674 13,863,268 12,838,263 1,777,143

13,497

60,840

158,939

13,497

60,840

158,939

430

5,292

64,181

387

4,874

18,611

12,680

50,674

76,147

467,596

1,095,446

2,206,539

467,596

1,095,446

2,206,539

238,756

591,664

1,087,769

101,617

313,376

858,314

127,223

190,406

260,456

1,850,991

3,890,770

10,820,854

8,861,824

1,850,991

3,890,770

10,320,854

7,913,202

944,072

2,097,218

5,635,005

3,198,881

693,575

1,429,427

5,011,621

4,406,461

213,344

364,125

174,228

307,860

12,726,185 12,726,185 6,099,697 5,674,978 951,510

746 746 82 664

10,488

36,195

73,880

118,371

322,252

10,488

36,195

73,880

118,371

322,252

10,488

35,770

71,348

97,118

132,137

425

2,532

13,456

109,994

7,797

80,121

594,835

1,954,161

9,615,257

594,835

1,954,161

9,615,257

281,379

956,574

4,735,337

175,375

705,911

4,705,692

138,081

291,676

174,228

7,839,287 7,839,287 4,564,690 2,756,824 517,773

12,751

50,352

122,744

12,751

50,352

122,744

430

5,292

63,756

305

4,874

18,611

12,016

40,186

40,377

393,716

977,075

1,884,287

393,716

977,075

1,884,287

236,224

578,208

977,775

101,617

305,579

778,193

55,875

93,288

128,319

1,256,156

1,936,609

1,205,597

1,256,156

1,936,609

1,205,597

662,693

1,140,644

899,668

518,200

723,516

305,929

75,263

72,449

948,622 4,838,942 728,762 4,110,180

366

502

7,711

7,554

14,365

142,444

555,820

4,110,180

343,392

366

502

7,711

7,554

14,365

142,444

555,820

948,622 4,110,180

343,392

14,365

85,943

243,084

385,370

14,365

85,943

243,084

385,370

366

502

7,711

7,554

366

502

7,711

7,554

56,501

312,736

56,501

312,736

1 Deposits of head offices and branches of noninsured banks operating branches and of 228 insured banks operating branches are not available separately. Excludes 

figures for 39 noninsured commercial banks for which data are not available.

NOTE: For the number of banks on which these deposit figures are based, see Table 105.

CODEPOSITS OF BANKING OFFICES

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 112. DEPOSITS OF OPERATING BANKS, JUNE 30, 1939

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF BANK AND AMOUNT OF DEPOSITS

Total Insured Noninsured1

Commercial banks

Total

Insured

Total

Members F. R. 

System

National State

Not 

members 

F. R.

System

Noninsured1

Mutual savings banks

Total

Noninsured

All banks.

W ith deposits of—

$100,000 or less...................

$100,000 to $250,000.........

$250,000 to $500,000.........

$500,000 to $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 $50,000,000 

More than $50,000,000 . . .

Unit banks.......................

W ith deposits of—

$100,000 or less.............

$100,000 to $250,000. . 

$250,000 to $500,000. .

$500,000 to $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 $50,000,000 

More than $50,000,000 . .

(In thousands of dollars)

64,415,310 53,572,763 10,842,547 53,984,886 52,326,754 29,415,683 16,457,571 6,453,500 1,658,132 10,430,424 1,246,009 9,184,415

55,558 37,457 18,101 55,558 37,457 2,273 459 34,725

357,165

710,225

18,101

50,190

52,470

494,405

1,182,072

443,778

1,128,320

50,627

53,752

493,851

1,180,013

443,661

1,127,543

74,003

348,920

12,493

68,398

554

2,059

117

777

437

1,282

2,167,514

3,067,025

4,914,547

2,088,995

2,940,305

4,375,909

78,519

126,720

538,638

2,148,534

2,988,724

4,440,994

2,084,758

2,930,826

4,335,240

931,767

1,574,399

2,601,166

172,723

252,193

597,304

980,268

1,104,234

1,136,770

63,776

57,898

105,754

18,980

78,301

473,553

4,237

9,479

40,669

14,743

68,822

432,884

4,403,806

11,848,866

36,281,517

3,555,818

7,949,254

31,052,927

847,988

3,899,612

5,228,590

3,579,398

8,159,046

30,938,768

3,493,977

7,764,258

30,109,034

2,158,603

4,500,934

17,223,618

779,587

2,170,331

12,404,083

555,787

1,092,993

481,333

85,421

394,788

829,734

824,408

3,689,820

5,342,749

61,841

184,996

943,893

762,567

3,504,824

4,398,856

30,149,072 24,365,327 5,783,745 24,557,590 23,848,080 15,552,415 3,619,308 4,676,357 709,510 5,591,482 517,247 5,074,235

55.479 37.378 18,101 55,479 37,378 2,273 459 34,646

349,786

665,046

18,101

49,831

49,978

486,667

1,134,016

436,399

1,082,756

50,268

51,260

486,113

1,131,957

436,282

1,081,979

74,003

348,920

12,493

68,013

554

2,059

117

777

437

1,282

2,055,765

2,872,998

4,465,641

1,981,399

2,759,885

3,976,420

74,366

113,113

489,221

2,037,708

2,796,543

4,022,669

1,977,162

2,750,406

3,935,751

929,857

1,561,367

2,484,204

172,058

245,920

532,713

875,247

943,119

918,834

60,546

46,137

86,918

18,057

76,455

442,972

4,237

9,479

40,669

13,820

66,976

402,303

3,475,463

7,152,652

8,450,391

2,716,501

4,356,062

7,018,527

758,962

2,796,590

1,431,864

2,710,990

4,478,927

6,837,204

2,654,660

4,280,872

6,693,590

1,776,172

3,046,979

5,328,640

478,639

796,561

1,312,452

399,849

437,332

52,498

56,330

198,055

143,614

764,473

2,673,725

1,613,187

61,841

75,190

324,937

702,632

2,598,535

1,288,250

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks operatin g bran ch es 34,266,238 

W ith deposits o f—

$100,000 or less................... 79

$100,000 to $250,000......... 7,738

$250,000 to $500,000......... 48,056

111,749

194,027

448,906

928,343

4,696,214

27,831,126

$500,000 to $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 $50,000,000 

More than $50,000,000 . . .

29,207,436

79

7,379

45,564

107,596

180,420

399,489

839,317

3,593,192

24,034,400

5,058,802 29,427,296

79

7,738

48,056

359

2,492

4,153

13,607

49,417

89,026

1,103,022

3,796,726

110,826

192,181

418,325

868,408

3,680,119

24,101,564

28,478,674

79

7,379

45,564

107,596

180,420

399,489

839,317

3,483,386

23,415,444

13,863,268 12,838,263

1,910

13,032

116,962

382,431

1,453,955

11,894,978

385

665

6,273

64,591

300,948

1,373,770

11,091,631

1,777,143

79

7,379

45,179

105,021

161,115

217,936

155,938

655,661

428,835

948,622

359

2,492

3,230

11,761

18,836

29,091

196,733

686,120

4,838,942 728,762 4,110,180

923

1,846

30,581

59,935

1,016,095

3,729,562

923

1,846

30,581

59,935

906,289

3,110,606

109,806

618,956

1 Excludes figures for 39 noninsured commercial banks for which data are not available.

NOTE: For the number of banks on which these deposit figures are based, see Table 106.

Back figures— See the following Annual Reports: 1938, p. 150; 1937, p. 96; 1936, p. 125; 1935, pp. 150-54.

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 113. DEPOSITS OF OPERATING BANKS, JUNE 30, 1939

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS

(In thousands of dollars)

U nited States an d posses 

sion s— t o t a l.....................

U nited S ta te s ......................

P ossession s...........................

State

Alabama..............................

Arizona................................

Arkansas.............................

California............................

Colorado..............................

Connecticut........................

Delaware............................

District of Columbia. . . .

Florida.................................

Georgia................................

Idaho...................................

Illinois..................................

Indiana................................

Iow a.....................................

Kansas.................................

Kentucky............................

Louisiana............................

M aine..................................

Maryland............................

Massachusetts...................

All banks

Total

64,415,310

64,226,705

188,605

298,371

86,509

176,452

4,132,551

325,166

1,306,461

212,654

323.682

393,291

453,539

91.722

4,440,838

911,497

640,938

400,081

463,265

504,653

333,253

894,150

4,131,714

Insured

53,572,763

53,565,410

7,353

296,211

86,509

175,706

4,098,357

323,309

499,606

173,303

323,682

391,101

447,964

88.474 

4,423',653 

892,714

608.656 

351,669

454,636

504,305

203,891

604.657 

1,922,808

Noninsured1

10,842,547

10,661,295

181,252

2,160

746

34,194

1,857

806,855

39,351

2,190

5,575

3.248

17,185

18,783

32,282

48,412

8,629

348

129,362

289,493

2,208,906

Commercial banks

Total

53,984,886

53,796,281

188,605

298,371

86,509

176,452

4,132,551

325,166

580,405

173,625

323,682

393,291

453,539

91.722

4,440,838

891,903

640,938

400,081

463,265

504,653

205,269

669,618

1,980,989

Insured

Total

52,326,754

52,319,401

7,353

296,211

86,509

175,706

4,098,357

323,309

499,606

173,303

323,682

391,101

447,964

88.474

4,423^653

879,489

608,656

351,669

454,636

504,305

189,169

603,132

1,922,808

Members F. R. 

System

National

29.415.683

29.415.683

213,566

59,404

103,151

2,906,103

267,852

287,209

17,665

186,927

302,328

304,341

45.610

3,232,356

496,881

236,730

235,541

246,214

350,310

120,570

348,627

1,452,479

16.457.571

16.457.571

39,245

9,479

23,018

752,862

30,097

68,675

105,577

97,253

11,955

62,858

33,236

830,113

92,830

96,422

21,051

65,990

57,367

32,845

134,385

350,923

Not 

members 

F. R.

System

6,453,500

6,446,147

7,353

43,400

17,626

49,537

439,392

25,360

143,722

50,061

39,502

76,818

80,765

9,628

361,184

289,778

275,504

95,077

142,432

96,628

35,754

120,120

119,406

Noninsured1

1,658,132

1,476,880

181,252

2,160

10.430.424

10.430.424

746

34,194

1,857

80,799

322

2,190

5,575

3,248

17,185

12,414

32,282

48,412

8,629

348

16,100

66,486

58,181

Mutual savings banks

Total

726,056

39,029

19,594

127,984

224,532

2,150,725

Insured

1.246.009

1.246.009

13,225

14,722

1,525

Noninsured

9.184.415

9.184.415

726,056

39,029

6,369

113,262

223,007

2,150,725

116 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
M ichigan...........

M innesota.........

Mississippi.........

Missouri.............

M ontana............

Nebraska...........

N evada...............

New Hampshire 

New Jersey 

New M exico....

New Y o rk .........

North Carolina. 

North Dakota. .

O hio....................

Oklahoma..........

Oregon................

Pennsylvania. . . 

Rhode Island.. . 

South Carolina. 

South D akota. .

Tennessee..........

Texas..................

U tah...................

Verm ont.............

Virginia..............

Washington . . . . 

West Virginia. .

Wisconsin..........

W yom ing...........

1,494,957 1,473,517 21,440 1,494,957 1,473,517 815,244

969,593 959,457 10,136 903,484 893,348 699,960

191,788 187,216 4,572 191,788 187,216 65,163

1,501,476 1,496,090 5,386 1,501,476 1,496,090 671,843

135,577 135,577 135,577 135,577 76,489

311,547 303,076 8,471 311,547 303,076 245,266

36,696 36,696 36,696 36,696 33,915

281,764 81,792 199,972 88,452 81,792 71,858 2,046,252 1,844,102 202,150 1,703,753 1,701,452 800,958 59,321 58,862 459 59,321 58,862 47,106

22,169,345 16,587,245 5,582,100 16,654,490 15,839,717 6,226,339

431,245 423,648 7,597 431,245 423,648 98,345

88,723 67,674 21,049 88,723 67,674 46,855

2,458,968 2,454,436 4,532 2,337,220 2,332,688 1,069,923

458,920 456,803 2,117 458,920 456,803 405,034

300,392 296,181 4,211 298,106 293,895 260,575

5,347,335 4,704,088 643,247 4,753,430 4,697,220 2,851,323

480,053 238,329 241,724 301,880 238,329 93,841

140,049 132,404 7,645 140,049 132,404 73,934

89,201 88,688 513 89,201 88,688 55,346

520,309 517,647 2,662 520,309 517,647 388,557

1,475,143 1,452,399 22,744 1,475,143 1,452,399 1,290,551

149,133 149,133 149,133 149,133 68,464

165,858 165,858 108,375 108,375 55,651

595,272 595,124 148 595,272 595,124 363,882

540,579 530,296 10,283 472,920 462,637 409,172

289,009 285,011 3,998 289,009 285,011 157,603

913,547 908,984 4,563 909,072 904,778 511,891

63,866 63,866 63,866 63,866 46,731

457,240

10,830

426

594,870

39,903

5,263

407

1,376

550,777

2,138

8,975,044

167,255

917,174

5,445

3,838

1,224,751

138,072

9,272

10,125

38,938

40,387

53,065

99,694

23,539

64,863

102,154

4,544

201,033

182,558

121,627

229,377

19,185

52,547

2,374

8,558

349,717

9,618

638,334

158,048

20,819

345,591

46,324

29,482

621,146

6,416

49,198

23,217

90,152

121,461

27,604

52,724

131,548

29,926

62,545

290,733

12,591

1 Excludes figures for 39 noninsured commercial banks for which data are not available.

N OTE: For the number of banks on which these deposit figures are based, see Table 107.

Back figures— See the following Annual Reports: 1938, p. 152; 1937, p. 98; 1936, p. 126; 1935, p. 150; 1934, p. 182.

21,440

10,136

4,572

5,386

66,109 66,109

8,471

6,660

2,301

459

814,773

7,597

21,049

4,532

2,117

4,211

56,210

63,551

7,645

513

2,662

22,744

193,312

342,499

193,312

142,650 199,849

5,514,855 747,528 4,767,327

121,748 121,748

2,286

593,905

178,173

2,286

6,868 587,037

178,173

57,483 57,483

148

10,283

3,998

4,294

67,659 67,659

4,475 4,206 269

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 114. DEPOSITS OF OPERATING COMMERCIAL BANKS, JUNE 30, 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS 00

Banks with deposits of—

All $100,000 $100,000 $250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 More than banks or to to to to to to to $50,000,000 less $250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000

(In thousands of dollars)

United States and possessions— total..........................

Insured banks............................

Noninsured banks1...................

United States.........

Insured banks. . . . 

Noninsured banks.

Possessions..............

Insured banks. . . . 

Noninsured banks.

State

Alabam a..........................

Insured banks.............

Noninsured ban ks... .

Arizona............................

Insured banks.............

Noninsured ban ks... .

Arkansas.........................

Insured banks.............

Noninsured banks... .

California.......................

Insured banks.............

Noninsured ban ks... .

Colorado..........................

Insured banks.............

Noninsured banks... .

Connecticut...................

Insured banks.............

Noninsured banks... .

Delaware.........................

Insured banks.............

Noninsured banks... .

District of Colum bia.

Insured banks.............

Noninsured banks.. . .

53,984,886

52,326,754

1,658,132

53,796,281

52,319,401

1,476,880

188,605

7,353

181,252

298,371

296,211

2,160

86.509

86.509

176,452

175,706

746

4,132,551

4,098,357

34,194

325,166

323,309

1,857

580,405

499,606

80,799

173,625

173,303

322

323.682

323.682

55,558

37,457

18,101

493,851

443,661

50,190

1,180,013

1,127,543

52,470

2,148,534

2,084,758

63,776

2,988,724

2,930,826

57,898

4,440,994

4,335,240

105,754

3,579,398

3,493,977

85,421

8,159,046

7,764,258

394,788

30,938,768

30,109,034

829,734

55,400

37,457

17,943

493,533

443,661

49,872

1,178,418

1,127,543

50,875

2,146,340

2,084,758

61,582

2,979,588

2,928,006

51,582

4,413,398

4,330,707

82,691

3,552,421

3,493,977

58,444

8,089,737

7,764,258

325,479

30,887,446

30,109,034

778,412

158 318 1,595 2,194 9,136

2,820

6,316

27,596

4,533

23,063

26,977 69,309 51,322

158 318 1,595 2,194 26,977 69,309 51,322

1,267

1,238

29

10,600

9,731

869

21,722

21,274

448

27,748

26,934

814

27.040

27.040

41.831

41.831

10.976

10.976

95.235

95.235

61.952

61.952

266 1.692

1.692

1.029

1.029

19.741

19.741

9.213

9.213

54.568

266 54.568

1,804

1,627

11,594

11,331

263

16,657

16,351

306

25.256

25.256

25,122 13.479

13.479

20,634 61.906

20,634 61.90625,122

177

179

99

80

1,547

1,349

198

12.655

12.655

43.458

43.458

52,688

51,293

1,395

30.726

30.726

105,465

96,869

8,596

24.564

24.564

77,073

71,070

6,003

35.941

35.941

254,809

236,887

17,922

3.584.677

3.584.677

515

444

71

5,187

4,779

408

14,925

14,132

793

18,796

18,211

585

135.446

135.446

59.066

59.066

6 1,278

1,125

3,786

2,078

1,708

3.235

3.235

11,269

9,748

1,521

44,960

41,302

3,658

10.379

10.379

101,068

92,354

8,714

14.694

14.694

96,657

88,310

8,347

9.876

9.876

250,184

193,492

56,692

51.619

51.619

71.197

71.197

6 153

81

81

845

523

322

9.031

9.031

73.865

73.865

770 3.108

3.108

13.921

13.921

53.760

53.760

157.143

157.143

94.980

770 94.980

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Florida....................................

Insured banks...................

393,291

391,101

2,190

453,539

447,964

5,575

91,722

88,474

3,248

4,440,838

446

350

96

3,780

2,255

1,525

133

133

4.712

4.712

11.787

11.787

Georgia..................................

Insured banks...................

16,445

13,751

2,694

1.765

1.765

22.412

22.412

Idaho.......................................

Insured banks...................

3.823

3.823

Illinois.................................... 1,379 27,570 70,676

Insured banks................... 4,423,653 1,021 27,206 70,142

Noninsured banks............ 17,185 358 364 534

Indiana.................................. 891,903 578 18,880 47,860

Insured banks................... 879,489 489 16,765 44,820

Noninsured banks............ 12,414 89 2,115 3,040

Iowa......................................... 640,938 775 22,548 79,021

Insured banks................... 608,656 269 18,002 70,950

Noninsured banks............ 32,282 506 4,546 8,071

Kansas.................................... 400,081 7,461 42,136 53,472

Insured banks................... 351,669 2,210 27,417 41,598

Noninsured banks............ 48,412 5,251 14,719 11,874

Kentucky.............................. 463,265 2,015 18,731 35,249

Insured banks................... 454,636 1,196 16,795 34,379

Noninsured banks............ 8,629 819 1,936 870

Louisiana.............................. 504,653 373 3,470 8,798

Insured banks................... 504,305 373 3,470 8,4.50

Noninsured banks............ 348 348

M ain e..................................... 205,269 191 1,845

Insured banks................... 189,169 1,077

Noninsured banks............ 16,100 191 768

M aryland.............................. 669,618 84 3,963 16,783

Insured banks................... 603,132 84 3,963 16,783

Noninsured banks............ 66,486

M assachusetts.................... 1,980,989 67 319 5,290

Insured banks................... 1,922,808 67 319 4,808

Noninsured banks............ 58,181 482

M ichigan............................... 1,494,957 250 11,526 51,012

Insured banks.................... 1,473,517 28 10,077 47,423

Noninsured banks............ 21,440 222 1,449 3,589

M innesota............................ 903,484 2,385 32,789 78,191

Insured banks................... 893,348 1,401 31,366 76,926

Noninsured banks............ 10,136 984 1,423 1,265

Mississippi............................ 191,788 1,135 6,552 19,728

Insured banks.................... 187,216 984 6,187 18,625

Noninsured banks............ 4,572 151 365 1,103

30,145

29,606

539

29,308

27,952

1,356

8.384

7.385 

999

142,901

140,305

2,596

73,473

71,957

1,516

113,748

105,876

7,872

63,237

52,350

10,887

61,471

57,590

3,881

31.168

31.168

9,949

8,681

1,268

28.645

28.645

24,793

23,929

864

75,446

73,876

1,570

108,118

107,569

549

34,375

31,422

2,953

46,114

44,559

1,555

36.031

36.031

7.908

7.908

150,767

147,148

3,619

116,301

115,255

1,046

134,153

126,775

7,378

67,126

61,445

5,681

72,565

71,442

1,123

37.186

37.186

27,509

25,841

1,668

51.671

51.671

60,279

58,481

1,798

87,674

85,149

2,525

85,504

81,796

3,708

40.450

40.450

42.837

42.837

47.133

47.133

15,072

12,823

2,249

278,146

275,429

2,717

146,939

142,331

4,608

76,128

72,219

3,909

61.421

61.421

53.748

53.748

36.029

36.029

59,632

55,011

4,621

58.691

58.691

186,703

182,789

3,914

137.172

137.172

68,626

66,419

2,207

39.999

39.999

46.269

46.269

22.980

22.980

5.363

5.363

320,712

313,715

6,997

59.384

59.384

65.109

65.109

30.038

30.038

41.500

41.500

27.726

27.726

80,203

72,619

7,584

56.393

56.393

201.423

201.423

135.226

135.226

44.528

44.528

38.091

38.091

159.355

159.355

69.434

69.434

49.274

49.274

432.728

432.728

300.216

300.216

149.456

149.456

75.190

75.190

118.349

118.349

123.768

123.768

25.940

25.940

269,761

203,275

66,486

371,769

320,646

51,123

229,916

217,831

12,085

88,018

88,018

11.458

11.458

51.626

51.626

206,016

206,016

3.015.959

3.015.959

128.272

128.272

59.637

59.637

236.135

236.135

183.627

183.627

1.130.346

1.130.346

766.735

766.735

395.325

395.325

DEPOSITS OF BANKING OFFICES .119

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 114. D e p o s it s OF Op e r a t in g C o m m e r c ia l B a n k s , J u n e 30, 1939— Continued

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS K)

O

M issouri.....................

Insured banks........

Noninsured banks.

M ontana...................

Insured banks........

Noninsured banks.

Nebraska...................

Insured banks 

Noninsured banks.

Nevada.......................

Insured banks 

Noninsured banks.

New Hampshire. . .

Insured banks 

Noninsured banks.

New Jersey...............

Insured banks 

Noninsured banks.

New Mexico.............

Insured banks 

Noninsured banks.

New Y ork.................

Insured banks. . . . 

Noninsured banks.

North Carolina.. ..

Insured banks. . . . 

Noninsured banks.

North D akota.........

Insured banks. . . . 

Noninsured banks.

Ohio............................

Insured banks. . . . 

Noninsured banks.

Oklahom a................

Insured banks. . . . 

Noninsured banks.

Banks with deposits o fAll $100,000 $100,000 $250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 More than

banks or to to to to to to to $50,000,000

less $250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000

1,501,476

1,496,090

5,386

135.577

135.577

311,547

303,076

8,471

36.696

36.696

88,452

81,792

6,660

1,703,753

1,701,452

2,301

59,321

58,862

459

16,654,490

15,839,717

814,773

431,245

423,648

7,597

88,723

67,674

21,049

2,337,220

2,332,688

4,532

458,920

456,803

2,117

(In thousands of dollars)

5,805” 32,697

4,663 41 29,957

1,142 2,740

109 5,045

109 5,045

4,900 27,385

2,635 24,132

2,265 3,253

84 1,209

912

84 297

64 639

424

64 215

531

531

167 5,643

5,043

167 600

1,072 8,177

839 7,856

233 321

2,449 11,403

2,059 11,043

390 360

325 13,896

153 12,544

172 1,352

2,116 20,514

2,025 18,847

91 1,667

46,954

46,055

899

11.241

11.241

36,986

36,100

886

1.535

1.535

4,361

3,959

402

7,652

7,336

316

4,387

3,928

459

38,086

37,820

266

19.174

19.174

13,127

12,541

586

60,443

57,994

2,449

42,279

41,920

359

67,171

66,566

605

18.263

18.263

33,662

32,865

797

2,262

2,262

14,102

11,585

2,517

52,861

51,155

1,706

5.925

5.925

128,612

128,090

522

29,507

28,891

616

7.067

7.067

127,724

127,165

559

38.874

38.874

72.667

72.667

12.567

12.567

25,617

24,347

1,270

2.405

2.405

17.176

17.176

166.879

166.879

14.566

14.566

237,849

236,525

1,324

54.495

54.495

11.428

11.428

192.035

192.035

46.785

46.785

115.487

115.487

37.244

37.244

25.087

25.087

2.215

2.215

26,769

23,409

3,360

292.133

292.133

7.094

7.094

480,070

460,229

19,841

58.466

58.466

17.015

17.015

260.137

260.137

59.835

59.835

117.334

117.334

25.795

25.795

7.733

7.733

24.751

24.751

220.940

220.940

16.362

16.362

421.874

421.874

32,045

25,618

6,427

6.521

6.521

198.170

198.170

37.605

37.605

168.728

168.728

25.313

25.313

150.177

150.177

28.279

28.279

695.441

695.441

10.456

10.456

796,022

782,381

13,641

75.579

75.579

19,713

19,713'

351.440

351.440

37.442

37.442

874.633

874.633

267.144

267.144

14,546,167

13,767,755

778,412

152.730

152.730

1.133.050

1.133.050

173.470

173.470

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Oregon.......................

Insured banks. . . . 

Noninsured banks.

Pennsylvania..........

Insured banks. . . . 

Noninsured banks.

Rhode Island..........

Insured banks. . . . 

Noninsured banks.

South Carolina... .

Insured banks. . . . 

Noninsured banks.

South Dakota........

Insured banks. . . . 

Noninsured banks.

Tennessee.................

Insured banks. . . . 

Noninsured banks.

Texas..........................

Insured banks. . . . 

Noninsured banks.

Utah...........................

Insured banks. . . . 

Noninsured banks.

Verm ont...................

Insured banks. . . . 

Noninsured banks.

Virginia.....................

Insured banks. . . . 

Noninsured banks.

Washington.............

Insured banks. . . . 

Noninsured banks.

West Virginia.........

Insured banks. . . . 

Noninsured banks.

Wisconsin.................

Insured banks. . . . 

Noninsured banks.

W yom ing..................

Insured banks. . . . 

Noninsured banks.

298,106

293,895

4,211

4,753,430

4,697,220

56,210

301,880

238,329

63,551

140,049 ia2,404

7,645

89,201

88,688

513

520,309

517,647

2,662

1,475,143

1,452,399

22,744

149.133

149.133

108.375

108.375

595,272

595,124

148

472,920

462,637

10,283

289,009

285,011

3,998

909,072

904,778

4,294

63.866

63.866

' ' 74' 

180

83

97

49

49

74

1,955

1,067

1.665

1.665

2,114

2,016

98

5,512

4,069

1,443

280

280

427

364

63

278

25

253

811

756

55

251

251

3.609

3.609

10,700

10,087

613

5,971

4,546

1,425

12.753

12.753

16,082

15,521

561

35,354

31,693

3,661

1.223

1.223

504

504

7,791

7,643

148

5,054

4,806

248

3,569

3,406

163

20,305

20,072

233

831

831

6.197

6.197

55,185

54,617

568

9,077

8,613

464

14.544

14.544

24.431

24.431

76,928

71,451

5,477

5.911

5.911

6.013

6.013

25.424

25.424

15.100

15.100

15,553

14,604

949

52,594

50,998

1,596

6.043

6.043

9.647

9.647

197,456

192,518

4,938

2.151

2.151

15,158

12,437

2,721

8,578

8,065

513

37,452

36,676

776

113,172

110,040

3,132

12.840

12.840

13.535

13.535

62.136

62.136

19.176

19.176

38.314

38.314

105,900

103,490

2,410

11.614

11.614

15.422

15.422

373,140

368,604

4,536

8,703

1,882

6,821

15.813

15.813

10,810

10,810

39,815

38,588

1,227

116,355

115,105

1,250

11.852

11.852

26.932

26.932

84.757

84.757

17.643

17.643

46.469

46.469

128.109

128.109

13.009

13.009

14,261

10,124

4,137

727.366

727.366

18,719

13,856

4,863

25,799

23,652

2,147

15.442

15.442

33.607

33.607

150,332

148,225

2,107

5.874

5.874

48.364

48.364

94.309

94.309

21,138

19,070

2,068

73,580

70,947

2,633

147.268

147.268

12.748

12.748

7.851

7.851

447,547

438,039

9,508

19.603

19.603

12.871

12.871

15.325

15.325

24.485

24.485

141,594

135,920

5,674

6.689

6.689

13.027

13.027

71.349

71.349

59,201

51,297

7,904

29.761

29.761

85.543

85.543

19.370

19.370

10,608

10,608

689,607

653,657

35,950

88,645

36,778

51,867

53.405

53.405

10.084

10.084

214.207

214.207

578.370

578.370

104.744

104.744

122.453

122.453

95.954

95.954

81.485

81.485

146.043

146.043

230.437

230.437

2.252.249

2.252.249

164.010

164.010

128,116

128,116

257.526

257.526

126.773

126.773

239.227

239.227

222.499

222.499

1 Excludes figures for 39 noninsured commercial banks for which data are not available.

NOTE: For the number of banks on which these deposit figures are based, see Table 108.

Back figures— See the following Annual Reports: 1938, p. 154; 1937, p. 100; 1936, p. 128; 1935, p. 156.

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 115. DEPOSITS OF OPERATING M U TU AL SAVINGS BAN KS, JUNE 30, 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE

Banks with deposits o fAll

banks $100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

(In thousands of dollars)

10,430,424

1,246,009

9,184,415

554 2,059

777

18,980 78,301 473,553

40,669

432,884

824,408

61,841

762,567

3,689,820 5,342,749

117 4,237 9,479

68,822

184,996 943,893

437 1,282 14,743 3,504,824 4,398.856

State

Connecticut ................................ 726,056 1,868 12,015 77,230 124,756 435,647 74,540

Noninsured banks .............................. 726,056

39,029

1,868 12,015 77,230 124,756

9,022

435,647

30,007

74,540

Delaware

Noninsured banks 39,029

19,594

13,225

6,369

127,984

14,722

113,262

224,532

9,022

14,540

8,171

6,369

29,556

6,897

22,659

9,297

30,007

Indiana 1.958

1.958

3.096

Insured banks 3.096

Noninsured banks

Maine ........................................................ 257 4,601

2,712

1,889

13,517 39,043 41,010

Insured banks 5,113

33,930

4,718

Noninsured banks ............................................. 257 13,517 41,010

Maryland ................................................... 301 1.525

1.525

63,572 145,119

Insured banks 1,525

223,007

2,150,725

Noninsured banks .................................... 301 4,718

180,597

9,297

351,938

63,572 145,119

Massachusetts ................................................. 284 5,326 19,914 1,096,880 495,786

Noninsured banks .... 2,150,725

66.109

66.109

284 5,326 19,914 180,597 351,938 1,096,880 495,786

Minnesota 66.109

Insured banks 66.109

New Hampshire 193,312 5,660 14,358 61,354 23,923 88,017

Noninsured banks................................................... 193,312 5,660 14,358 61,354 23,923 88,01.7

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
New Jersey...............

Insured banks. . . . 

Noninsured banks.

New York.................

Insured banks. . . . 

Noninsured banks.

Ohio............................

Insured banks. . . . 

Noninsured banks.

Oregon.......................

Insured banks. . . . 

Noninsured banks.

Pennsylvania..........

Insured banks. . . . 

Noninsured banks.

Rhode Island..........

Insured banks. . . . 

Noninsured banks.

Verm ont...................

Insured banks. . . . 

Noninsured banks.

W ashington.............

Insured banks. . . . 

Noninsured banks.

W isconsin.................

Insured banks. . . . 

Noninsured banks.

342,499

142,650

199,849

5,514,855

747,528

4,767,327

121.748

121.748

2,286

2,286

593,905

6,868

587,037

178,173

178,173

57.483

57.483

67.659

67.659

4,475

4,206

269

153

153

117

117

N OTE: For the number of banks on which these deposit figures are 

Back figures— See the following Annual Reports: 1938, p. 158; 1937, p

499

499

455

455

278

278

269

2,609

1,091

1,518

7,500

7,500

1.454

1.454

3.252

3.252

1.724

1.724

8,826

5,087

3,739

71,316

' 71,31.6

2,286

2,286

6,868

6,868

9.630

9.630

6.224

6.224

2.365

2.365

55,387

30,147

25,240

184,061

‘ 184,0 6 i'

7.740

7.740

5,302

’ 5,302'

8,886

8,886

177,844

105,826

72,018

1,532,324

43,733

1,488,591

84,389

84,389

104,693

104,693

35.437

35.437

, see Table 109.

104; 1936, p. 132; 1935, p. 164.

97,334

“ ‘ 97,334 ’

3,719,654

703,795

3,015,859

112.554

112.554

502,648

502,648 

67,570

67,570’

61.435

61.435

K>

CODEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF OPERATING BANKS

Table 116. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING BANKS IN THE UNITED STATES AND POSSESSIONS, 1935-1939 j-l

BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BANK

(Amounts in millions of dollars)

1935 1936 1937 1938 1939

Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30

ALL C O M M ER C IA L AND M U TU AL SAVINGS BANKS 

ASSETS

United States Government obligations, direct and fully guaranteed ..

Other securities................................................................................................

Loans, discounts, and overdrafts................................................................

Miscellaneous assets.......................................................................................

T otal a ssets............................................................................................

LIABILITIES AND CAPITAL

Total deposits..................................................................................................

Total capital accounts...................................................................................

T otal liabilities and ca p ita l a c c o u n ts .......................................

14,872

15,510

10,035

20,291

3,236

63.944

55,512

657

7,775

63.944

15,060

17,330

10,509

20,601

3,284

66.784

58,159

728

7,897

66.784

16,819

17,479

10,618

21,388

3,265

69.569

60,926

689

7,954

69.569

15,520

16,933

10,260

22,461

3,214

68.388

59,586

775

8,027

68.388

15,902

16,683

9,739

22,119

3,093

67.536

58,829

671

8,036

67.536

17,392

16,787

9,496

21,053

2,990

67.718

59,120

594

8,004

67.718

18,262

18,006

9,609

21,315

3,144

70.336

61,638

668

8,030

70.336

20,544

18,800

9,522

21,309

3,005

73.180

64,416

651

8,113

73.180

23,324

19,462

9,283

22,130

2,923

77.122

68,413

609

8,100

77.122

Number of banks included.......................................................................

Number of banks not included...............................................................

Total operating banks......................................................................

15,878

62

15,940

15,776

62

15,838

15,655

59

15,714

15,525

59

15,584

15,398

46

15,444

15,293

50

15,343

15,203

54

15,257

15,096

41

15,137

15,040

45

15,085

ALL INSURED BANKS

ASSETS

Cash and amounts due from other banks................................................

United States Government obligations, direct and fully guaranteed..

Other securities................................................................................................

Loans, discounts, and overdrafts................................................................

Miscellaneous assets.......................................................................................

LIABILITIES AND CAPITAL

Total deposits..................................................................................................

Miscellaneous liabilities.................................................................................

Total capital accounts...................................................................................

T otal liabilities and capital a cco u n ts .......................................

13,919

13,454

7,125

15,208

2,329

52.035

45,125

573

6,337

52.035

14,109

14,982

7,683

15,607

2,333

54.714

47,637

648

6,429

54.714

15,800

14,987

7,820

16,434

2,302

57.343

50,281

602

6,460

57.343

14,609

14,217

7,461

17,514

2,243

56.044

48,832

683

6,529

56.044

15,003

13,919

7,053

17,222

2,156

55.353

48,228

587

6,538

55.353

16,458

13,779

6,983

16,192

2,094

55.506

48,469

520

6,517

55.506

17,247

14,787

7,176

16,485

2,242

57.937

50,791

589

6,557

57.937

19,449

15,415

7,199

16,617

2,139

60.819

53,573

587

6,659

60.819

22,009

15,989

7,163

17,471

2,081

64.713

57,485

550

6,678

64.713

Number of banks included........................................................................

Trust companies not engaged in deposit banking.............................

StcttGTTlGTltS of aSS6tS £lTld licifoilltiGS not SlVElilElfolG

14,179

1

2

14,182

14,115

2

4

14,121

14,026

2

1

14,029

13,941

2

13,851

2

13,779

3

1

13,783

13,707

2

13,618

2

13,586

3

Total operating banks...................................................................... 13,943 13,853 13,709 13,620 13,589

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ALL NONINSURED BANKS

ASSETS

953 951 1,019

2,492

2,798

4,954

963

911 899 934 1,015 1,095 1,315

United States Government obligations, direct and fully guaranteed.. 2,056

2,910

5,083

2,348

2,826

4,994

951

2,716

2,799

2,764

2,686

4,897

937

3,008

2,513

3,219

2,433

3,385

2,323

3,473

2,120

4,947

971

4,861 4,830 4,692 4,659

907 896 902 866 842

11,909 12,070 12,226 12,344 12,183 12,212 12,399 12,361 12,409

LIABILITIES AND CAPITAL

10,387

84

10,522

80

10,645 10,754

92

10,601

84

10,651 10,847 10,843 10,928

87 74 79 64 59

1,438

11,909

1,468

12,070

1,494

12,226

1,498

12,344

1,498 1,487

12,212

1,473 1,454 1,422

12,183 12,399 12,361 12,409

1,699

59

1,661

56

1,629

56

1,584

57

1,547

44

1,514 1,496 1,478 1,454

46 52 39 42

Total operating banks...................................................................... 1,758 1,717 1,685 1,641 1,591 1,560 1,548 1,517 1,496

ALL COMMERCIAL BANKS

ASSETS

14,320

13,826

7,115

15,164

2,361

52,786

14,516

15,346

7,714

15,571

2,347

55,494

16,254

15,291

7,888

16,415

2,323

58,171

14,991

14,591

7,514

17,489

2,276

56,861

15,355 

14,219 

7 062

16,815

14,097

7,005

16,149

2,090

56,156

17,676

15,117

7,229

16,440

2,260

58,722

19,842

15,742

7,245

16,442

2,140

61,411

22,509

16,343

7,103

17,263

2,058

65,276

United States Government obligations, direct and fully guaranteed..

17*190

2,171

55,997

Miscellaneous assets.......................................................................................

Total assets...........................................................................................

LIABILITIES AND CAPITAL

Total deposits.................................................................................................. 45,632

636

6,518

52,786

48,184

705

6,605

55,494

50,865

670

6,636

58,171

49,423

751

6,687

56,861

48,656

649

48,908

572

51,355

648

53,985

628

57,887

Miscellaneous liabilities................................................................................ 588

Total capital accounts ............................................................................................................................ 6,692

55,997

6,676

56,156

6,719 6,798

61,411

6,801

Total liabilities and capital accounts....................................... 58,722 65,276

Number of banks included...................................................................... 15,312

62

15,374

15,211

62

15,273

15,092

59

15,151

14,963

59

15,022

14,836

46

14,731

50

14,649

54

14,544

41

14,489

Number of banks not included............................................................... 45

Total operating banks...................................................................... 14,882 14,781 14,703 14,585 14,534

ALL MUTUAL SAVINGS BANKS

ASSETS

Cash and amounts due from other b an k s............................................... 552

1,684

2,920

5,127

875

11,158

544

1,984

9 7Q£

565

2,188

529

2,342

2,746

4,972

938

11,527

547

2,464

2,677

4,929

922

577 586 702 815

United States Government obligations, direct and fully guaranteed.. 

Other securities................................................................................................

2,690

2,491

4,904

900

2,889

2,380

4,875

884

3,058

2,277

4,867

865

3,119

2,180

Loans, discounts, and overdrafts...............................................................

ijO

5 030

I OU

4 973 4,867

865Miscellaneous assets....................................................................................... ’937 

11 290

942 

Total assets........................................................................................... 11 398 11,539 11,562 11,614 11,769 11,846

LIABILITIES AND CAPITAL

Total deposits.............................................................................................. 9,880

21

1,257

11,158

9,975

23

10,061 

19 

1 318

10,163

24

1,340

11,527

10,173

22

10,212

22

10,283

20

10,431

23

10,526

Miscellaneous liabilities............... •............................................................... 21

Total capital accounts................................................................................... 1 9Q9 1,344

11,539

1,328

11,562

1,311

11,614

1,315

11,769

1,299

Total liabilities and capital accounts....................................... XI,x 11 7 Oil tU 11 398 11,846

Number of banks............................................................................... 566 565 563 562 562 562 554 552 551

ASSETS AND LIABILITIES OF OPERATING BANKS 125

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BANK K

(Amounts in millions of dollars)

Table 116. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING BANKS IN THE UNITED STATES AND POSSESSIONS, 1935-1939— Continued

1935 1936 1937 1938 1939

Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30

INSURED C O M M ER C IA L BANKS 

ASSETS

13,851 14,039 15,730 14,540 14,931 16,371 17,176 19,354

15,038

21,876

United States Government obligations, direct and fully guaranteed.. 13,275 14,772 14,750 13,965 13,669 13,525 14,507 15,568

Other securities................................................................................................ 6,841 7,412 7,558 7,214 6,807 6,753 6,944 6,955

16,041

6,860

Loans, discounts, and overdrafts................................................................ 14,719 15,131 15,965 17,044 16,750 15,726

1,994

16,024 16,866

Miscellaneous assets....................................................................................... 2,241 2,238

53,592

2,208 , 

56,211

2,142 2,055 2,149 2,038 1,977

T ota l a ssets............................................................................................ 50,927 54,905 54,212 54,369 56,800 59,426 63,147

LIABILITIES AND CAPITAL

Total deposits.................................................................................................. 44,147 46,649 49,283 47,830 47,224 47,461 49,779 52,327 56,076

Miscellaneous liabilities................................................................................. 569 644 599 679 584 516 586 584 546

Total capital accounts................................................................................... 6,211 6,299 6,329 6,396 6,404 6,392 6,435 6,515 6,525

T ota l liabilities and ca p ita l a cco u n ts ........................................ 50,927 53,592 56,211 54,905 54,212 54,369 56,800 59,426 63,147

Number of banks included...................................................................... 14,123 14,059 13,970 13,885 13,795 13,723 13,659 13,569 13,535

'"rust companies not engaged in deposit banking.............................

^ements of assets and liabilities not available

1

2

2

4

2

1

2 2 3

1

2 2 3

Total operating banks...................................................................... 14,126 14,065 13,973 13,887 13,797 13,727 13,661 13,571 13,538

iyiNINSURED CO M M ERCIAL BANKS 

ASSETS

Cash and amounts due from other ban k s............................................... 469 477 524 451 424 444 500 488 633

United States Government obligations, direct and fully guaranteed.. 551 574 541 626 550 572 610 704 775

Other securities................................................................................................ 274 302 330 300 255 252 285 290 243

Loans, discounts, and overdrafts................................................................ 445 440 450 445 440 423 416 401 397

Miscellaneous assets....................................................................................... 120 109 115 134 116 96 111 102 81

T otal assets............................................................................................ 1,859 1,902 1,960 1,956 1,785 1,787 1,922 1,985 2,129

LIABILITIES AND CAPITAL

Total deposits.................................................................................................. 1,485 1,535 1,582 1,593 1,432 1,447 1,576 1,658 1,811

Miscellaneous liabilities................................................................................. 67 61 71 72 65 56 62 44 42

Total capital accounts................................................................................... 307 306 307 291 288 284 284 283 276

T otal liabilities and capital a cco u n ts ........................................ 1,859 1,902 1,960 1,956 1,785 1,787 1,922 1,985 2,129

Number of banks included....................................................................... 1,189 1,152 1,122 1,078 1,041 1,008 990 975 954

Statements of assets and liabilities not available.............................. 59 56 56 57 44 46 52 39 42

Total operating banks...................................................................... 1,248 1,208 1,178 1,135 1,085 1,054 1,042 1,014 996

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INSURED MUTUAL SAVINGS BANKS

ASSETS

Cash and amounts due from other banks...............................................

United States Government obligations, direct and fully guaranteed. .

Other securities...............................................................................................

Loans, discounts, and overdrafts...............................................................

Miscellaneous assets......................................................................................

Total assets...........................................................................................

LIABILITIES AND CAPITAL

Total deposits.................................................................................................

Miscellaneous liabilities................................................................................

Total capital accounts..................................................................................

Total liabilities and capital accounts.......................................

Number of banks

NONINSURED MUTUAL SAVINGS BANKS

ASSETS

Cash and amounts due from other banks...............................................

United States Government obligations, direct and fully guaranteed. .

Other securities...............................................................................................

Loans, discounts, and overdrafts...............................................................

Miscellaneous assets......................................................................................

Total assets...........................................................................................

LIABILITIES AND CAPITAL

Total deposits.................................................................................................

Miscellaneous liabilities................................................................................

Total capital accounts..................................................................................

Total liabilities and capital accounts.......................................

Number of banks

68

179

284

489

88

1,108

70

210

271

476

95

1,122

70

237

262

469

94

1,132

69

252

247

470

101

1,139

72

250

246

472

101

1,141

87

254

230

466

100

1,137

71

280

232

461

93

1,137

95

377

244

576

101

1,393

133

421

303

605

104

1,566

978

4

126

1,108

988

4

130

1,122

998

3

131

1,132

1,002

4

133

1,139

1,004

3

134

1,141

1,008

4

125

1,137

1,012

3

122

1,137

1,246

3

144

1,393

1,409

4

153

1,566

56 56 56 56 56 56 48 49 51

484

1,505

2,636

4,638

787

10,050

474

1,774

2,524

4,554

842

10,168

495

1,951

2,468

4,504

848

10,266

460

2,090

2,499

4,502

837

10,388

475

2,214

2,431

4,457

821

10,398

490

2,436

2,261

4,438

800

10,425

515

2,609

2,148

4,414

791

10,477

607

2,681

2,033

4,291

764

10,376

682

2,698

1,877

4,262

761

10,280

8,902

17

1,131

10,050

8,987

19

1,162

10,168

9,063

16

1,187

10,266

9,161

20

1,207

10,388

9,169

19

1,210

10,398

9,204

18

1,203

10,425

9,271

17

1,189

10,477

9,185

20

1,171

10,376

9,117

17

1,146

10,280

510 509 507 506 506 506 506 503 500

ASSETS AND LIABILITIES OP OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 117. A s s e t s AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES 1935-1939

(Amounts in thousands of dollars)

1935 1936 1937 1 1938 1939

June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30

Number of banks1............................................... 14,175 14,123 14,059 13,970 13,885 13,795 13,723 13,659 13,569 13,535

ASSETS

Cash, balances with other banks, and cash

items in process of collection:

Currency and coin...................................................... 705,488

4,933,277

1,612,871

2,759,445

150,266

76,225

1,219,335

11,456,907

869,626

5,573,212

1,817,424

3,033,305

198,653

54,889

2,304,017

13,851,126

915,988 917,310 844,197 789,519 909,727 950,394 917,759 1,067,155

Reserve with Federal Reserve banks.....................

Demand balances with banks in the United 

States (except private banks and American 

branches of foreign banks):

In New York C ity ..................................................

5,607,119

1,869,377

6,571,694

1,898,633

6,896,663

1,456,015

7,005,209

1,576,381

8,004,090

1,971,524

8,694,388 10,010,744 11,603,504

3,201,486

195,625

55,409

2,194,114

3,493,012 2,884,490 3,026,627 3,266,066

154,856

118,931

1,945,536

| 5,480,000 5,964,135 7,138,913

Other balances with banks in the United States. 197,453

57,603

155,296

54,754

141,777

72,250

183,962

53,638

1,813,703

17,176,085

178,301

44,344

180,150

24,810

2,594,855 2,248,736 2,319,081 2,239,001 1,861,058

Total cash, balances with other banks,

and cash items in process of collection 14,039,118 15,730,560 14,540,151 14,930,844 16,370,730 19,354,284 21,875,590

Direct obligations of the U. S. Government:

Treasury bills............................................................... 1,104,669

4,476,099

4,889,004

10,469,772

1,195,007

5,603,462

4,369,967

11,168,436

1,270,127

5,428,167

5,816,750

12,515,044

1,055,211 826,756 668,723 318,767 289,876 446,009 570,783

Treasury notes............................................................. 4,755,941 4,637,033 4,567,777 3,925,676 3,648,098 2,925,415 2,388,084

Bonds..................... ............................................. 6,724,308

12,535,460

6,386,378 6,336,291 6,915,305

11,159,748

8,000,896

11,938,870

8,576,596

11,948,020

9,194,340

Total direct obligations of the United

States Government.................................... 11,850,167 11,572,791 12,153,207

Obligations guaranteed by the U. S. Govt:

Reconstruction Finance Corporation..................... 246,715

21,198,549

447,451

243,393

1,300,419

563,041

238,076

1,444,000

575,357

212,709 221,111 257,687 262,725 435,667

1,459,653

502,886

169,731

658,870

1,616,440

550,646

264,239

3,090,195

863,705

Home Owners’ Loan Corporation.......................... 1,433,126

568,258

1,409,116

484,318

1,344,284

494,590

1,440,444

493,955

168,322

2,365,446

1,655,205

Federal Farm Mortgage Corporation.................... 500,651

Other Government corporations and agencies 394,712

Total obligations guaranteed by the

United States Governm ent.................... 1,892,715 2,106,853 2,257,433 2,214,093 2,114,545 2,096,561 2,567,937 3,414,273

Other securities:

Obligations of Government corporations and 

agencies, not guaranteed by U. S. Govt: 

Federal Land banks............................................... 205.925

134^422

224.116

98,702

258,191

139,687

229.903 199.937 182,987 158,164 131,147

128,862

107,449

| 3,011,333

117,293 113,964

Federal Intermediate Credit banks................... 114,260 131^772 134,943

(3)

2,567,801

19,119

1,121,469

1,035,529

162,856

(3)

2,660,288

19,408

142,030

154,146

3,141,394

156,702

Other Government corporations and agencies 137,062

3,285,180

Obligations of States and political subdivisions . . 

Obligations of territorial and insular possessions 

of the United States...........................................

2,558,536

21,507

1,025,574

975,497

2,633,631

24,326

1,017,472

1,090,295

2,758,456

19,521

1,173,943

1,176,996

2,734,041

22,089

2,662,173

22,057

Obligations of other domestic corporations: 

Railroads................................................................... 1,232,832

1,287,352

1,022,204

1,203,111

1,137,234

959,041

1,056,801

982,014

887,791

993,349 

973,955 

/ 707,047 

\ 141,499

/ 212,368 

\ 2,144

942,958

886,300

696,824

134,666

216,903

2,599

910,914

Public u tilities........................................................ 760,282

Industrials................................................................ 644,330

All other4...................................................................

j 808,747 842,710 945,644 911,341 126,276

Foreign bonds, notes, and debentures— public 

and private........................................................... } 295,610 293,465 297,859 278,638 273,068 217,852 207,938

216,453

Stocks of foreign corporations................................. 2,168

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Corporate stocks of:

Federal Reserve banks......................................

Affiliates of reporting banks............................

Other domestic banks.................... ...............

Other domestic corporations...........................

T otal oth er securities5..................................

T ota l securities5..........................................

Loans, discou n ts, and overdrafts (in clu din g 

re d isco u n ts):

Commercial paper bought in open m arket.. . . 

Notes, bills, acceptances, etc., payable in foreign

countries...............................................................

Acceptances of other Thanks, payable in the U. S ..

Reporting banks’ own acceptances........................

Loans to brokers and dealers in securities:

In New York C ity .................................................

Elsewhere..................................................................

Real estate loans:

On farm land...........................................................

On residential properties......................................

On other properties................................................

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

Agricultural loans (excluding loans on farm land)

Commercial and industrial loans............................

Other loans for the purpose of purchasing or

carrying securities............................................

All other loans...........................................................

Overdrafts...................................................................

T otal loans, d iscou n ts, and overdrafts51.

T otal loans and securities57....................

Bank prem ises, fu rn itu re an d fixtures, and 

oth er real e sta te:

Bank premises.......................................................

Furniture and fixtures.........................................

Farm land (including improvements).............

Residential properties...........................................

Other real properties.............................................

Investments indirectly representing bank premises or other real estate....................................

Other assets indirectly representing bank premises or other real estate....................................

T ota l ban k prem ises, fu rn itu re and 

fixtures, and oth er real esta te ..............

M iscellaneou s assets:

Customers’ liability to reporting banks on

acceptances outstanding...................................

Redemption fund and due from U. S. Treasurer..

Income accrued but not collected..........................

Prepaid expenses.........................................................

Other assets7.................................................................

T o ta l m iscellan eou s assets7............................

T ota l assets7..........................................................

146,382

501,800

6,674,000

19,036,487

284,725

17,751

201,164

138,969

993,856

197,497

497,475 

| 2,832,874 

127,807

I7 9,216,329

6,966

14,515,413

33,551,900

1,209,938

507,573

(5)

1,717,511

158,934

11,842

368,289

539,065

47,265,383

130,317

486,065

6,841,099

20,116,388

309,903

29,377

181,539

174,874

1,064,772

203,078

487,505

2,835,257

105,322

79,317,418

9,679

14,718,724

34,835,112

1,196,266

550,723

(5)

1,746,989

180,495

312,913

493,408

50,926,635

130,810

510,502

7,411,609

22,184,086

318,879

17,979

144,298

118,780

1,097,524

273,513

489,244

2,876,819

86,865

661,606

79,037,835

7,393

15,130,735

37,314,821

1,194,621

74,186

499,838

(5)

1,768,645

159,267

309,751

469,018

53,591,602

130,744

505,643

7,557,706

22,307,259 21,178,563

378.018

18,703

161.019 

133,090

1,172,495

274,269

487,604

2,959,251

90,269

637,369

79,642,766

10,011

15,964,864

38,272,123

1,177,752

70,925

489,543

(5)

1,738,220

181,281

288,297

469,578

56,210,481 54,904,558

132,238

493,220

7,213,851

440,745

15.533

131^645

115,626

1,300,825

265,611

504,217

3,080,036

118,973

726,400

710,334,310

9,996

17,043,917

38,222,480

1,172,617

63,052

474,378

(5)

1,710,047

190,745

241,135

431,880

132,637

483,742

6,807,420

20,476,772 20,278,565

419,652

22,938

127,946

131,435

752,540

218,728

501,543

3,139,457

73,497

788,355

710,564,672

8,977

16,749,740

37,226,512

1,160,501

56,311

463,261

(5)

1,680,073

157,141

217,846

374,987

54,212,416

133,510

484,601

6,753,371

340,085

13,640

75,673

113,460

540,968

184,586

512,872

3,208,792

124,084

925,708

79,677,036

8,676

15,725,580

36,004,145

1,153,259

53,096

456,164

(5)

1,662,519

111,499

220,369

331,868

54,369,262

134,494

113,332

37,847

249,035

6,943,861

21,450,668

283,494

10,167

89,342

95,888

} 1,001,845

519,365 

/ 2,416,719 

\ 923,025 

128,003 

61,064,933 

[ 65,154,422

i 6850,600 

( 63,476,538 

9,977 

16,024,318

37,474,986

1,017,963

105,400

49,143

223,388

217,025

102,252

53,891

1,769,062

122,371

108,497

8,648

140,605

380,121

56,800,254

134,942

112,046

36,633

235,960

6,954,694

21,992,909

283,630

8,605

66,911

101,511

755,382

530,740

2,468,203

991,408

60,216

1,193,478

5,227,799

828,220

3,509,824

14,446

16,040,373

38,033,282

1,005,581

101,248

46,568

198,830

206,352

104,186

54,453

1,717,218

103,674

110,572

10,973

95,856

321,075

59,425,859

135,546

107,655

34,616

229,211

6,860,359

22,427,839

330,571

9,248

63,467

93,397

817,026

534,273

2,596,999

1,006,178

57,307

1,094,399

5,834,709

793,616

3,622,365

12,466

16,866,021

39,293,860

993,696

97,418

42,045

182,692

197,445

93,884

49,519

1,656,699

109,891

107,291

11,620

91,575

320,377

63,146,526

t oASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 117. A s s e t s a n d L i a b il it ie s o f O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s , C a l l D a t e s 1935-1939— Continued

(Amounts in thousands of dollars)

1935 1936 1937 1938 1939

June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30

LIABILITIES

Demand deposits (exclusive of interbank

deposits):

Individuals, partnerships, and corporations........

United States Government.......................................

States and political subdivisions.............................

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, and 

amounts due to Federal Reserve banks. . . . 

Total demand deposits.....................................

Tim e deposits (exclusive of interbank

deposits):

Individuals, partnerships, and corporations:

Savings deposits......................................................

Certificates of deposit. . . .....................................

Christmas savings and similar accounts...........

Postal savings8.............................................................

States and political subdivisions.............................

Total time deposits7...........................................

Interbank deposits:

Banks in the United States......................................

Banks in foreign countries........................................

Total interbank deposits.................................

Total deposits7..................................................

18,029,625

804,567

2,586,882

445,727

21,866,801

20,074,063

881,308

2,674,238

921,170

24,550,779

21,463,913

1,105,886

2,885,335

832,437

26,287,571

23,419,236

946,564

2,916,202

935,237

28,217,239

22,624,279

651,489

3,164,685

802,196

27,242,649

22,106,285

801,354

2,668,152

813,974

26,389,765

21,986,370

560,370

2,870,496

703,876

26,121,112

23,476,863

837,964

2,942,191

594,754

27,851,772

24,772,378

738,520

3,122,328

837,899

29,471,125

27,196,842

790,162

2,885,787

612,776

31,485,567

10,236,013

1,355,785

85,102

597,319

372,479

325,624

12,972,322

10,575,116

1,299,133

30,874

612,126

279,928

405,187

13,202,364

10,933,195

1,335,166

100,291

660,595

135,840

428,928

13,654,015

11,491,137

1,254,003

32,343

701,801

139,737

347,084

13,966,105

11,814,508 

1,243,390 

120,922 

784,037 

131,G02 

346,429 

14,440,888

12,100,322

1,213,532

36,739

641,223

125,915

588,044

14,705,775

12,054,836

1,210,896

123,046

640,024

110,192

550,004

14,688,998

12,195,956

1,158,737

27,799

630,048

86,098

574,578

14,673,216

12,355,298

1,167,503

129,517

645,897

79,527

535,311

14,913,053

12,622,325

1,129,346

31,684

687,701

69,240

527,373

15,067,669

5,201,586

279,638

5,481,224

5,941,190

452,978

6,394,168

6,232,648

475,065

6,707,713

6,657,491

442,291

7,099,782

5,514,043

632,375

6,146,418

t , 662,112 

466,036 

6,128,148

6,318,202

332,429

6,650,631

6,741,318

512,370

7,253,688

7,333,723

608,853

7,942,576

8,760,606

762,507

9,523,113

40,320,347

27,198,282

13,122,065

44,147,311

80,779,759

13,367,552

46,649,299

32,825,743

13,823,556

49,283,126

35,14-7,022

14,186,104

47,829,955

33,21+0411

11+,589,544

47,223,688

32,364469

14,859,219

47,460,741

32,613,351

14,847,390

49,778,676

34,949,194

14,829,482

52,326,754

37,242,573

15,084,181

56,076,349

40,839,329

15,237,020

222,045

46,299

175,659

35,304

37,897

| 214,630

509,789

...............

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities

for borrowed m oney...........................................

Acceptances executed by or for account of reporting banks and outstanding......................

Mortgage bonds and participation certificates

Dividends declared but not yet payable7.............

Income collected but not earned............................

Expenses accrued and unpaid..................................

Total miscellaneous liabilities7.....................

Total liabilities (excluding capital

accounts)7...................................................

35,019

198,718

31,347

43,598

260,217

568,899

38,558

180,299

27,578

45,682

351,598

643,715

32,296

203,226

23,634

48,502

290,995

598,653

35,425

215,267

21,823

46,599

359,431

678,545

30,082

176,128

18,924

46,301

313,251

584,686

26,929

122,601

15,520

44,640

306,338

516,028

17,584

140,404

12,964 

35,254 

f 54,499 

\ 77,641 

[ 247,978 

586,324

15,550

122,169

6,613

37,451

64,479

86,786

251,017

584,065

13,609

126,107

4,906

40,731

69,859

76,562

214,033

545,807

41,052,181 44,716,210 47,293,014 49,881,779 48,508,500 47,808,374 47,976,769 50,365,000 52,910,819 56,622,156

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Capital accounts:

Capital stock, notes, and debentures.

Surplus......................................................

Undivided profits7..................................

Reserve for contingencies....................

All other capital accounts7..................

Total capital accounts.................

CAPITAL ACCOUNTS

Total liabilities and capital accounts7. . .

MEMORANDA 

Pledged assets and securities loaned:

United States Government obligations, direct 

and guaranteed, pledged to secure liabilities.

Other assets pledged to secure liabilities..............

Assets pledged to qualify for exercise of fiduciary 

or corporate powers, and for purposes other

than to secure liabilities9..................................

Securities loaned9........................................................

Total pledged assets and securities loaned

Secured and preferred liabilities:

Deposits secured by pledged assets pursuant to

requirements of law ...........................................

Deposits preferred under the provisions of law

but not secured by pledge of assets9.............

Borrowings secured by pledged assets9.................

Other liabilities secured by pledged assets9.........

Total secured and preferred liabilities... .

3,365,309

1,892,655

529,230

418,597

7,411

6,213,202

47,265,383

3,101,588

1,342,620

3,445,769

3,300,196

1,946,020

547,694

405,171

11,344

6,210,425

50,926,635

2,994,476

1,180,649

3,492,359

3,212,615

2,042,072

626,823

399,333

17,745

6,298,588

53,591,602 56,210,481

3,438,857

1,043,355

3,838,827

3,081,433

2,184,512

662,044

372,191

28,522

6,328,702

54,904,558

3,217,375

1,014,004

3,590,329

3,053,970

2,225,180

701,477

382,287

33,144

6,396,058

54,212,416

3,114,308

979,258

3,368,921

3,030,146

2,268,179

703,569

365,082

37,066

6,404,042

54,369,262

3,190,912

948,196

3,341,823

3,018,570

2,292,137

723,885

317,722

40,179

6,392,493

2,922,595

939,260

3,122,346

2,981,666

2,346,708

741,674

310,453

54,753

6,435,254

56,800,254 59,425,859

3,244,241

951,892

188,999

99,048

4,484,180

3,512,481

733,788

16,015

67,872

4,330,156

2,954,886

2,381,233

799,018

322,503

57,400

6,515,040

3,130,765

936,661

192,303

35,742

4,295,471

3,380,256

796,510

28,760

18,593

4,224,119

2,914,004

2,442,853

789,340

318,432

59,741

6,524,370

63,146,526

3,240,894

964,648

185,225

68,984

4,459,751

3,452,532

886,246

12,673

21,716

4,373,167

1 Excludes the following insured banks not members of the Federal Reserve System: 4 on June 29, 1935; 3 on December 31, 1935; 6 on June 30, 1936; 3 on December 31, 

1936; 2 on June 30, 1937; 2 on December 31, 1937; 4 on June 30, 1938; 2 on December 31, 1938; 2 on June 30, 1939; and 3 on December 30, 1939.

2 Includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.

3 Federal Home Loan Bank debentures held on December 31, 1937, and June 30, 1938, are included for those dates with “ obligations of other domestic corporations.”

4 Includes “ obligations of real estate corporations” for which separate figures for call dates prior to June 30, 1938, are given on page 109 of the Annual Report for 1937.

5 Amounts of loans and securities for call dates prior to December 31, 1938, are not entirely comparable with amounts reported for subsequent calls because “ investments 

and other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.

6 Revised for banks not members of the Federal Reserve System due to the improper reporting by some banks of “ agricultural loans,” “ commercial and industrial loans,” 

and “ all other loans” as “ other loans for the purpose of purchasing or carrying securities.”

7 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 164-67.

8 Includes for call dates beginning December 31, 1938, “ United States Treasurer’s time deposits, open accounts.”

9 Amounts not reported for call dates prior to December 31, 1938.

Back figures— June 30 and December 31, 1934: see the Annual Report for 1938, p. 164.

00ASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
T a b le 118. CLASSES OF SECURITIES HELD BY OPERATING INSURED COMMERCIAL BANKS, CALL DATES 1934-1939

1934 1935 1936 1937 1938 1939

June 30 June 29 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30

Number of banks........................................................ 13,896 14,175 14,059 13,970 13,885 13,795 13,723 13,659 13,569 13,535

(In thousands of dollars)

Total securities..................................................................... 16,498,085 19,036,487 22,184,086 22,307,259 21,178,563 20,476,772 20,278,565 21,450,668 21,992,909 22,427,839

Governmental obligations— total............................. 12,854,538 15,282,877 17,948,332 17,849,846 16,980,651 16,574,202 16,525,910 17,885,598 18,593,078 19,260,388

U. S. Government, direct and guaranteed............... 10,301,500 12,362,487 14,772,477 14,749,553 13,964,712 13,669,352 13,525,194 14,506,807 15,038,215 15,567,480

U. S. Government agencies, not guaranteed........... 273,466 340,347 397,878 344,163 331,709 317,930 321,020 367,458 413,469 407,728

States and political subdivisions................................. 2,279,572 2,580,043 2,777,977 2,756,130 2,684,230 2,586,920 2,679,696 3,011,333 3,141,394 3,285,180

Domestic corporate bonds— total............................. 2,628,190 2,809,818 3,296,583 3,542,388 3,299,386 3,068,339 2,926,606 2,815,850 2,660,748 2,441,802

Railroads........................................................................... 915,267 1,025,574 1,173,943 1,232,832 1,203,111 1,121,469 1,056,801 993,349 942,958 910,914

Public utilities.................................................................. 902,784 975,497 1,176,996 1,287,352 1,137,234 1,035,529 982,014 973,955 886,300 760,282

Other................................................................................... 810,139 808,747 945,644 1,022,204 959,041 911,341 887,791 848,546 831,490 770,606

Miscellaneous securities— total................................. 1,015,357 943,792 939,171 915,025 898,526 834,231 826,049 749,220 739,083 725,649

Foreign securities— public and private...................... 334,236 295,610 297,859 278,638 273,068 217,852 207,938 214,512 219,502 218,621

Stocks of Federal Reserve banks................................ 145,990 146,382 130,810 130,744 132,238 132,637 133,510 134,494 134,942 135,546

Stocks of other domestic corporations....................... 535,131 501,800 510,502 505,643 493,220 483,742 484,601 400,214 384,639 371,482

(As percentage of total assets)

Total securities...................................................................... 38.0 40.3 41.4 39.7 38.6 37.8 37.3 37.8 37.0 35.5

Governmental obligations— total............................. 29.6 32.3 33.5 31.8 30.9 30.6 30.4 31.5 31.3 30.5

U. S. Government, direct and guaranteed............... 23.7 26.2 27.6 26.3 25.4 25.2 24.9 25.6 25.3 24.7

U. S. Government agencies, not guaranteed........... .6 .7 .7 .6 .6 .6 .6 .6 .7 .6

States and political subdivisions................................. 5.3 5.4 5.2 4.9 4.9 4.8 4.9 5.3 5.3 5.2

Domestic corporate bonds— tota l............................. 6.1 6.0 6.2 6.3 6.0 5.7 5.4 5.0 4.5 3.9

2.1 2.2 2.2 2.2 2.2 2.1 2.0 1.8 1.6 1.5

Public utilities.................................................................. 2.1 2.1 2.2 2.3 2.1 1.9 1.8 1.7 1.5 1.2

Other................................................................................... 1.9 1.7 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.2

Miscellaneous securities— total................................. 2.3 2.0 1.7 1.6 1.7 1.5 1.5 1.3 1.2 1.1

Foreign securities— public and private...................... .8 .6 .6 .5 .5 .4 .4 .4 .4 .3

Stocks of Federal Reserve banks................................ .3 .3 .2 .2 .3 .2 .2 .2 .2 .2

Stocks of other domestic corporations....................... 1.2 1.1 .9 .9 .9 .9 .9 .7 .6 .6

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
(As percentage of total loans and securities)

T o ta l secu rities ........................................................

G overn m en tal ob liga tion s— t o t a l................

U. S. Government, direct and guaranteed.. 

U. S. Government agencies, not guaranteed 

States and political subdivisions....................

D om estic corporate bon ds— t o t a l................

Railroads..............................................................

Public utilities.....................................................

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

M iscellaneous securities— t o t a l....................

Foreign securities— public and private........

Stocks of Federal Reserve banks...................

Stocks of other domestic corporations..........

T ota l se cu ritie s ........................................................

G overn m en tal ob liga tion s— t o t a l................

U. S. Government, direct and guaranteed.. 

U. S. Government agencies, not guaranteed 

States and political subdivisions....................

D om estic corporate bon d s— t o t a l...............

Railroads..............................................................

Public utilities.....................................................

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

M iscellan eou s securities— t o t a l....................

Foreign securities— public and private ....

Stocks of Federal Reserve banks...................

Stocks of other domestic corporations..........

T o ta l secu rities........................................................

G overn m en tal obligation s— t o t a l................

U. S. Government, direct and guaranteed. . 

U.S. Government agencies, not guaranteed 

States and political subdivisions....................

D om estic corporate bon ds— t o t a l................

Railroads............... ..............................................

Public utilities.....................................................

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

M iscellaneou s securities— t o t a l....................

Foreign securities— public and private........

Stocks of Federal Reserve banks...................

Stocks of other domestic corporations..........

52.1 56.7 59.5 58.3 55.4 55.0 56.3 57.2 57.8 57.1

40.6 45.5 48.1 46.6 44.4 44.5 45.9 47.7 48.9 49.0

32.5 36.8 39.6 38.5 36.5 36.7 37.6 38.7 39.5 39.6

.9 1.0 1.1 .9 .9 .9 .9 .9 1.1 1.0

7.2 7.7 7.4 7.2 7.0 6.9 7.4 8.1 8.3 8.4

8.3 8.4 8.9 9.3 8.6 8.2 8.1 7.5 7.0 6.2

2.9 3.1 3.2 3.2 3.1 3.0 2.9 2.7 2.5 2.3

2.8 2.9 3.2 3.4 3.0 2.8 2.7 2.6 2.3 1.9

2.6 2.4 2.5 2.7 2.5 2.4 2.5 2.2 2.2 2.0

3.2 2.8 2.5 2.4 2.4 2.3 2.3 2.0 1.9 1.9

1.0 .9 .8 .7 .7 .6 .6 .6 .6 .6

.5 .4 .3 .4 .4 .4 .4 .4 .3 .3

1.7 1.5 1.4 1.3 1.3 1.3 1.3 1.0 1.0 1.0

(As percentage of total securities)

100.0 100.0 100.0 100.0 100.0 100.0

77.9 80.3 80.9 80.0 80.2 80.9

62.4 64.9 66.6 66.1 65.9 66.8

1.7 1.8 1.8 1.5 1.6 1.5

13.8 13.6 12.5 12.4 12.7 12.6

15.9 14.8 14.9 15.9 15.6 15.0

5.5 5.4 5.3 5.5 5.7 5.5

5.5 5.1 5.3 5.8 5.4 5.1

4.9 4.3 4.3 4.6 4.5 4.4

6.2 4.9 4.2 4.1 4.2 4.1

2.0 1.5 1.3 1.2 1.3 1.1

.9 .8 .6 .6 .6 .6

3.3 2.6 2.3 2.3 2.3 2.4

100.0

81.5

66.7

1.6

13.2

14.4

5.2

4.8

4.4

4.1

1.0

.7

2.4

(As percentage of amount held on June 30, 1934)

100.0 115.4 134.5 135.2 128.4 124.1

100.0 118.9 139.6 138.9 132.1 128.9

100.0 120.0 143.4 143.2 135.6 132.7

100.0 124.5 145.5 125.9 121.3 116.3

100.0 113.2 121.9 120.9 117.8 113.5

100.0 106.9 125.4 134.8 125.5 116.7

100.0 112.1 128.3 134.7 131.4 122.5

100.0 108.1 130.4 142.6 126.0 114.7

100.0 99.8 116.7 126.2 118.4 112.5

100.0 93.0 92.5 90.1 88.5 82.2

100.0 88.4 89.1 83.4 81.7 65.2

100.0 100.3 89.6 89.6 90.6 90.9

100.0 93.8 95.4 94.5 92.2 90.4

122.9

128.6

131.3

117.4 

117.6

111.4

115.5 

108.8

109.6

81.4

62.2

91.5

90.6

100.0 100.0 100.0

83.4 84.5 85.9

67.6 68.4 69.4

1.7 1.9 1.8

14.1 14.2 14.7

13.1 12.1 10.9

4.6 4.3 4.1

4.5 4.0 3.4

4.0 3.8 3.4

3.5 3.4 3.2

1.0 1.0 1.0

.6 .6 .6

1.9 1.8 1.6

130.0 133.3 135.9

139.1 144.6 149.8

140.8 146.0 151.1

134.4 151.2 149.1

132.1 137.8 144.1

107.1 101.2 92.9

108.5 103.0 99.5

107.9 98.2 84.2

104.7 102.6 95.1

73.8 72.8 71.5

64.2 65.7 65.4

92.1 92.4 92.8

74.8 71.9 69.4 CO

CO

N OTE. See footnotes 1 to 5, Table 117.

Back figures— December 31, 1934, and December 31, 1935: see the Annual Report for 1938, p. 168.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 119. A s s e t s AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM,

C a l l D a t e s 1935-1939

(Amounts in thousands of dollars)

1935 1936 1937 1938 1939

June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30

Number of banks1............................................... 7,765 7,736 7,659 7,594 7,528 7,454 7,385 7,321 7,239 7,173

ASSETS

Cash, balances with other banks, and cash

items in process of collection:

Currency and coin......................................................

Demand balances with banks in the United 

States (except private banks and American 

branches of foreign banks):

In New York C ity..................................................

Elsewhere..................................................................

Other balances with banks in the United States..

Balances with banks in foreign countries.............

Cash items in process of collection........................

Total cash, balances with other banks,

and cash items in process of collection

168,478

233,015

853,898

39,566

4,981

35,962

1,335,900

204,848

256,956

972,764

43,783

4,101

49,262

1,531,714

202,567

261,386

1,016,739

44,851

3,711

46,621

1,575,875

219,930

298,823

1,174,202

49,616

2,123

61,580

1,806,274

214,892

254,501

985,833

48,493

2,777

47,907

1,554,403

200,062

287,071

996,152

47,172

2,527

59,730

1,592,714

197,697

290,877

973,918

43,980

2,695

46,165

1,555,332

204,744

} 1,360,305 

64,138 

3,085 

54,994

1,687,266

205,627

1,421,894

46,289

1.457

55,929

1,731,196

225,940

1,768,656

44,038

1,014

53,688

2,093,336

Direct obligations of the U. S. Government:

Treasury bills................................................................

Treasury notes.............................................................

B onds.............................................................................

Total direct obligations of the United

States Government....................................

5,414

162,194

431,038

598,646

3,431

199,996

464,482

667,909

4,186

267,482

521,901

793,569

2,694

229,296

663,984

895,974

6,141

276,416

697,206

979,763

6,951

290,736

700,961

998,648

2,614

272,371

669,756

944,741

4,087

259,137

793,358

1,056,582

4,862

205,848

791,068

1,001,778

8,046

164,807

796,159

969,012

Obligations guaranteed by the U. S. Govt:

Reconstruction Finance Corporation.....................

Home Owners’ Loan Corporation..........................

Federal Farm Mortgage Corporation....................

Other Government corporations and agencies

2,991

2209,750

114,204

1,989

209,465

127,535

1,994

188,016

116,966

2,381

195,124

110,870

1,509

196,413

98,093

2,255

201,208

95,691

1,904

149,170

73,790

12,618

237,482

8,706

135,805

69,298

13,885

227,694

16,836

158,296

63,636

20,608

259,376

30,015

154,692

56,202

29,404

270,313

Total obligations guaranteed by the

United States Governm ent.................... 326,945 338,989 306,976 303,375 296,015 299,154

Other securities:

Obligations of Government corporations and 

agencies, not guaranteed by U. S. Govt:

Federal Land banks...............................................

Federal Intermediate Credit banks...................

Other Government corporations and agencies

43,456

1,055

48,955

873

49,828

2,686

45,343

3,192

38,099

4,236

32,881

4,769

(3)

535,933

4,376

235,826

241,058

206,677

36,550

28,749

3,830

(3)

531,918

4,324

224,241

219,223

189,015

30,246

24,707

1,998

9,874

j 563,541

206,755 

207,499 

/ 138,681 

1 43,565

\ 30,180 

I 401

20,470

1,020

11,780

587,181

196,413

181,678

130,433

39,197

28,236

623

18,987

2,337

9,707

593,493

179,765

155,769

116,789

33,261

29,999

453

Obligations of States and political subdivisions. . 

Obligations of territorial and insular possessions

of the United States...........................................

Obligations of other domestic corporations:

Railroads...................................................................

Public utilities..........................................................

Industrials................................................................

All other4...................................................................

Foreign bonds, notes, and debentures— public

and private...........................................................

Stocks of foreign corporations.................................

457,024

4,708

200,516

210,820

J 168,226

| 49,525

474,534

5,908

195,635

234,648

182,697

49,558

494,189

3,911

225,605

250,841

195,999

47,522

525,403

4,315

240,898

285,267

221,694

42,139

529,514

4,677

246,170

266,501

222,821

44,920

FEDERAL DEPOSIT INSURANCE CORPORATION

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http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Corporate stocks of:

Affiliates of reporting banks.....................

Other domestic banks.................................

Other domestic corporations.....................

T ota l oth er secu rities5............................

T ota l securities5.....................................

Loans, d iscou n ts, and overdrafts (inclu din g 

red iscou n ts):

Commercial paper bought in open market..........

Notes, bills, acceptances, etc., payable in foreign

countries...............................................................

Acceptances of other banks, payable in the U. S.

Reporting banks’ own acceptances........................

Loans to brokers and dealers in securities:

In New York C ity .................................................

Elsewhere..................................................................

Heal estate loans:

On farm land...........................................................

On residential properties......................................

On other properties................................................

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

Agricultural loans (excluding loans on farm land)

Commercial and industrial loans...........................

Other loans for the purpose of purchasing or

carrying securities............................................

All other loans..........................................................

Overdrafts..................................................................

T ota l loans, d iscou n ts, and overdrafts57.

T otal loans and securities57.....................

Bank prem ises, fu rn itu re and fixtures, and 

oth er real estate:

Bank premises.............................................................

Furniture and fixtures...............................................

Farm land (including improvements)...................

Residential properties................................................

Other real properties..................................................

Investments indirectly representing bank premises or other real estate....................................

Other assets indirectly representing bank premises or other real estate....................................

T ota l bank prem ises, fu rn itu re and 

fixtures, and oth er real e s ta te ... .

M iscellaneou s assets:

Customers’ liability to reporting banks

acceptances outstanding..........................

Income accrued but not collected..................

Prepaid expenses.................................................

Other assets7........................................................

T otal m iscellan eou s assets7...................

T ota l assets7..............................................

J 118,914 

1,254,244

106,910

1,299,718

95,995

1,366,576

94,828

1,463,079

92,161

1,449,099

86,968

1,385,038

81,887

1,313,433

f 9,184 

\ 14,417 

( 52,860 

1,303,662

8,503

14,464

49,406

1,269,404

7,586

14,247

47,433

1,209,826

2,179,835 2,306,616 2,467,121 2,667,428 2,724,877 2,682,840 2,495,656 2,587,938 2,530,558 2,449,151

37,621 37,954 40,932 54,276 63,816 56,055 46,897 35,665 39,007 39,754

459

537

3,751

460

528

5,477

284

231

1,589

315

494

1,959

385

947

2,379

436

2,111

1,740

323

2,275

1,360

180

1,294

1,158

41

385

1,165

19

221

1,716

19,224

5,688

17,897

6,810

18,629

7,191

28,049

8,107

22,585

7,819

14,417

6,649

17,494

6,616 { 28,494 24,608 26,710

238,946 

} 814,066 

8,753

■n,456,247

2,155

2,587,447

236,290

802,623

7,337

71,425,292

2,954

2,543,622

233,088

792,797

6,173

240,992

229,765

1 7l f015,479

1,740

2,588,890

229,377

812,946

5,160

211,482

244,446

71,005,918

2,482

2,605,011

239,712

839,170

4,323

266,654

268,971

71,040,801

1,480

2,759,042

236,619

856,954

3,554

288,297

265,499

71,057,603

1,983

2,791,917

240,146

868,952

3,727

332,867

271,353

7994,457

1,513

2,787,980

241,273 

/ 696,285 

\ 205,635 

3,218 

6348,412 

6422,249

675,644 

( 6755,050 

2,001

2,816,558

246,564

692,603

222,938

1,919

405,027

445,057

92,167

726,369

1,455

2,899,305

245,577

713,446

221,702

957

364,860

448,936

93,265

745,737

1,301

2,904,201

4,767,282 4,850,238 5,056,011 5,272,439 5,483,919 5,474,757 5,283,636 5,404,496 5,429,863 5,353,352

| 211,293 

i 168,487

204,582

183,744

197,372 

f 36,029 

[} 145,735

193,577

35,482

144,622

190,506

32,949

141,323

186,999

29,115

139,306

183,509

27,097

141,213

/ 154,080 

\ 24,246 

25,402 

J 87,161 

j 51,359

149,853

23,273

23,011

72,569

50,695

144,834

22,007

20,210

66,557

47,706

(5) (5) 15,131 15,078 11,180 10,494 6,903

] 7,683 

1 3,952

7,498

4,231

7,887

4,742

379,780 388,326 394,267 388,759 375,958 365,914 358,722 353,883 331,130 313,943

1,183

| 62,636

63,819

1,424

44,035

45,459

2,313

39,489

41,802

1,867

33,387

35,254

3,602

34,375

37,977

2,637

32,108

34,745

2,416

25,584

28,000

1,649 

f 7,859 

\ 1,503 

[ 13,763 

24,774

2,002

7,977

1,915

13,647

25,541

2,348

7,132

1,309

14,157

24,946

6,546,781 6,815,737 7,067,955 7,502,726 7,452,257 7,468,130 7,225,690 7,470,419 7,517,730 7,785,577

ASSETS AND LIABILITIES OF OPERATING BANKS 135

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Federal Reserve Bank of St. Louis
C a l l D a t e s 1935-1939— C ontinu ed

*

(Amounts in thousands of dollars) CO

_________________________________________________________________________________________________________________________________________________________________________________ C*

T a b le 119. ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM,

1935 1936 1937 1938 1939

June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30

LIABILITIES

Demand deposits (exclusive of interbank

deposits):

Individuals, partnerships, and corporations........

United States Government.......................................

States and political subdivisions.............................

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, and 

amounts due to Federal Reserve banks. . . . 

Total demand deposits.....................................

1,823,382

25,851

496,274

29,116

2,374,623

2,038,981

37,267

534,774

39,464

2,650,486

2,141,915

69,311

564,882

43,300

2,819,408

2,448,932

64,603

587,022

54,106

3,154,663

2,351,847

23,364

587,240

50,582

3,013,033

2,358,835

20,320

536,168

46,632

2,961,955

2,170,174

17,518

556,823

41,633

2,786,148

2,357,675

48,148

556,502

47,596

3,009,921

2,324,209

44,519

590,758

47,746

3,007,232

2,592,860

47,596

564,453

49,488

3,254,397

Tim e deposits (exclusive of interbank

deposits):

Individuals, partnerships, and corporations:

Savings deposits......................................................

Certificates of deposit............................................

Christmas savings and similar accounts...........

Open accounts7........................................................

Postal savin gs .............................................................

States and political subdivisions.............................

Total time deposits7...........................................

2,250,367

487,005

20,369

54,712

65,876

40,548

2,918,877

2,281,256

483,232

9,371

63,754

62,364

43,841

2,943,818

2,367,563

491,911

22,996

47,582

43,606

50,930

3,024,588

2,499,921

488,688

7,024

54,303

35,368

50,855

3,136,159

2,569,941

485,772

29,329

59,933

31,866

54,149

3,230,990

2,639,196

473,205

7,978

65,391

31,262

106,323

3,323,355

2,596,793

466,681

29,765

61,580

27,333

96,126

3,278,278

2,639,258

456,660

6,828

63,932

24,810

113,066

3,304,554

2,693,270

458,269

31,395

52,052

20,392

94,111

3,349,489

2,739,212

452,817

7,250

56,668

17,910

95,200

3,369,057

Interbank deposits:

Banks in the United States......................................

Banks in foreign countries........................................

Total interbank deposits.................................

87,410

1,310

88,720

94,620

4,204

98,824

95,514

4,225

99,739

102,288

4,690

106,978

92,812

3,074

95,886

97,029

2,693

99,722

86,667

1,330

87,997

99,378

1,685

101,063

95,161

1,618

96,779

109,024

3,719

112,743

Total deposits7..................................................

Dem and............................................................

Time7 ................................................................

5,382,220

2,b5b,b99

2,927,721

5,693,128

2,739,673

2,953^55

5,943,735

2,907,052

3,036,683

6,397,800

3,250,807

3,1 If.6,993

6,339,909

3,097,513

3,21+2,396

6,385,032

S,0U7,U5

3,337,587

6,152,423

2,861,090

3,291,333

6,415,538

3,096,399

3,319,139

6,453,500

3,088,63b

3,36b,866

6,736,197

3,351,51b

3,38b,683

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities

for borrowed m oney...........................................

Acceptances executed by or for account of reporting banks and outstanding.......................

Mortgage bonds and participation certificates

outstanding..........................................................

Dividends declared but not yet payable...............

Income collected but not earned............................

Expenses accrued and unpaid..................................

Other liabilities7...........................................................

Total miscellaneous liabilities7.....................

30,023

1,090

7,729

1,621

| 24,522

64,985

20,820

1,147

6,905

2,579

25,905

57,356

18,706

2,078

6,801

1,683

31,731

60,999

15,116

1,739

5,101

3,071

26,376

51,403

17,991

3,468

4,854

2,500

26,272

55,085

15,432

2,517

3,844

2,878

25,560

50,231

15,115

2,441

3,366

1,631

25,770

48,323

11,375

1,667

3,237 

2,590 

f 10,850 

\ 7,958 

I 6,197 

43,874

10,888

2,005

2,743

1,619

12,599

8,335

7,227

45,416

10,368

2,352

2,187

2,763

13,549

7,872

7,678

46,769

Total liabilities (excluding capital

accounts)7................................................... 5,447,205 5,750,484 6,004,734 6,149,203 6,394,994 6,435,263 6,200,746 6,459,412 6,498,916 6,782,966

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
CAPITAL ACCOUNTS 

Capital accounts:

Capital stock, notes, and debentures....................

Surplus...........................................................................

Undivided profits7.......................................................

Reserve for contingencies.........................................

All other capital accounts7.......................................

Total capital accounts......................................

Total liabilities and capital accounts7. . ..

MEMORANDA 

Pledged assets and securities loaned:

United States Government obligations, direct 

and guaranteed, pledged to secure liabilities

Other assets pledged to secure liabilities..............

Assets pledged to qualify for exercise of fiduciary 

or corporate powers, and for purposes other

than to secure liabilities8..................................

Securities loaned8........................................................

Total pledged assets and securities loaned

Secured and preferred liabilities:

Deposits secured by pledged assets pursuant to

requirements of law ...........................................

Deposits preferred under the provisions of law

but not secured by pledge of assets8.............

Borrowings secured by pledged assets8...............

Other liabilities secured by pledged assets8.........

Total secured and preferred liabilities

681,990

245,631

93,085

75,069

3,801

1,099,576

666,456

235,421

89,792

68,796

4,788

1,065,253

645,418

235,556

107,572

68,023

6,652

1,063,221

627,593

248,142

104,508

62,374

10,906

1,053,523

609,721

253,716

118,415

62,639

12.772

1,057,263

599,540

257,758

106,854

53,727

14,988

1,032,867

589,164

257,064

113,420

49,508

15,788

1,024,944

578,568

263,982

106,126

45,108

17,223

1,011,007

564,863

269,664

120,985

45,816

17,486

1,018,814

550,775

276,461

114,606

41,819

18,950

1,002,611

6,546,781 6,815,737 7,067,955 7,502,726 7,452,257 7,468,130 7,225,690 7,470,419 7,517,730 7,785,577

225,203

256,788

244,182

238,010

265,258

199,182

37,473

293

502,206

277,258

190,574

30,933

472

499,237

255,421

190,697

27,862

65

474,045

279,744

183,347

25,371

109

488,571

262,602

202,566

19,469

269

484,906

292,828

206,462

21,998

291

521,579

296,603

210,302

21,185

92

528,182

277,637

207,586

21,657

637

507,517

362,174 391,638 406,005

60,505

20,221

16,551

503,282

408,743

74,008

14,645

13,113

510,509

374,035

66,790

16,552

9,710

467,087

372,788

75,545

14,270

5,448

468,051

372,616

75,700

14,226

2,412

464,954

411,120

81,530

10,412

4,152

507,214

420,019

73,258

10,037

3,271

506,585

395,945

88,457

9,985

2,019

496,406

1 Excludes the following insured banks not members of the Federal Reserve System: 4 on June 29, 1935; 3 on December 31, 1935; 6 on June 30, 1936; 3 on December 31, 

1936; 2 on June 30, 1937; 2 on December 31, 1937; 4 on June 30, 1938; 2 on December 31, 1938; 2 on June 30, 1939; and 3 on December 30, 1939.

2 Includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.

3 Federal Home Loan Bank debentures held on December 31, 1937, and June 30, 1938, are included for those dates with “ obligations of other domestic corporations.”

4 Includes “ obligations of real estate corporations” for which separate figures for call dates prior to June 30, 1938, are given on page 113 of the Annual Report for 1937.

6 Amounts of loans and securities for call dates prior to June 30, 1936, are not entirely comparable with amounts reported for subsequent calls because “ investments and 

other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.

6 Revised, due to the improper reporting by some banks of “ agricultural loans,” “ commercial and industrial loans,” and “ all other loans” as “ other loans for the purpose 

of purchasing or carrying securities.”

7 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 170-73.

8 Amounts not reported for call dates prior to June 30, 1936.

Back figures— June 30 and December 31, 1934: see the Annual Report for 1938, p. 170.

ASSETS AND LIABILITIES OF OPERATING BANKS 137

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Federal Reserve Bank of St. Louis
Table 120. A s s e t s AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS NOT M EM BERS OF THE FEDERAL RESERVE SYSTEM,

D e c e m b e r 30, 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

All

banks

Banks with deposits of—

$100,000 $100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

Number of banks1. 381 1,929 2,002 1,454 840 87

ASSETS

C ash, balances with other banks, and cash

items in process of collection:

Currency and coin.....................................

Balances with banks..................................

Cash items in process of collection. . . .

Total cash, balances with other banks,

and cash items in process of collection .................................................

Securities:

Direct obligations of the U. S. Government..

m ent........................................................

Obligations of States and political

divisions.................................................

Other securities.............................................

Total securities.....................................

Loans, discounts, and overdrafts (includ

ing rediscounts):

Commercial and industrial loans....................

lan d)............................................................

Commercial paper bought in open market. 

Notes, bills, acceptances, etc., payable 

foreign countries.......................................

United States......................................

Reporting banks’ own acceptances .... 

Loans to brokers and dealers in securities. . .

or carrying securities........................

Real estate loans:

On farm land.........................................

On residential properties......................

On other properties...............................

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

All other loans.............................................

Overdrafts....................................................

Total loans, discounts, and overdrafts

Total loans and securities.........

(In thousands of dollars)

223,863 1,454 12,642 24,023 33,068 40,924 39,472 19,533 32,991 19,756

1,804,634 11,591 111,494 222,253 298,583 329,287 303,472 157,669 299,454 70,831

52,909 88 930 2,073 4,353 8,099 11,803 7,259 13,165 5,139

2,081,406 13,133 125,066 248,349 336,004 378,310 354,747 184,461 345,610 95,726

965,171 2,517 35,720 73,958 102,042 125,828 158,824 86,937 226,410 152,935

268,704 546 8,545 21,029 35,852 47,149 50,943 27,274 43,753 33,613

593,267 1,821 27,266 64,787 97,977 107,550 96,203 46,958 99,191 51,514

613,791 732 16,026 44,428 82,639 117,303 142,062 62,503 117,137 30,961

2,440,933 5,616 87,557 204,202 318,510 397,830 448,032 223,672 486,491 269,023

446,231 1,906 19,105 42,977 69,951 97,013 103,684 43,494 62,164 5,937

364,853 8,379 72,017 110,066 95,947 53,673 19,874 3,013 1,884

39,724 21 518 1,968 4,057 6,128 12,062 4,828 9,642 500

19 4 2 5 8

221 5 44 2 21 21 67 61

1,716 26 7 226 17 61 31 35 1,313

26,664 33 143 266 629 2,348 2,945 10,289 10,011

93,160 49 621 2,559 6,079 13,559 19,792 10,202 33,581 6,718

245,464 2,387 28,219 56,168 70,766 46,733 25,382 6,813 7,537 1,459

707,402 1,009 15,913 45,915 87,895 133,719 157,386 62,203 116,899 86,463

220,559 366 4,455 10,938 23,270 32,031 40,261 21,426 43,503 44,309

957 27 179 180 256 216 18 81

734,070 3,459 43,346 84,581 116,602 143,118 126,783 63,131 131,298 21,752

1,299 43 195 244 276 230 114 106 67 24

2,882,339 17,672 184,617 356,009 475,384 527,133 507,761 218,344 418,246 177,173

5,323,272 23,288 272,174 560,211 793,894 924,963 955,793 442,016 904,737 446,196

138 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Miscellaneous assets:

Bank premises owned, furniture and fixtures 

Real estate owned other than bank premises 

Investments and other assets indirectly 

representing bank premises or other

real estate.............................................

Customers’ liability on acceptances. . . .

Income accrued but not collected.........

Prepaid expenses........................................

Other miscellaneous assets.......................

Total miscellaneous assets.............

Total assets...........................................

LIABILITIES

Deposits:

Individuals, partnerships, and corporations:

Dem and....................................................

Tim e..........................................................

States and political subdivisions............

United States Government......................

Postal savings.............................................

Other banks.................................................

Certified and officers’ checks, cash letters of 

credit and travelers' checks outstanding, etc..................................................

Total deposits......................................

Demand.................................................

Tim e......................................................

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for borrowed m oney.............

Acceptances outstanding............................

Dividends declared but not yet payable

Income collected but not earned.............

Expenses accrued and unpaid...........................

Mortgage bonds and participation certificates

outstanding.........................................

Other miscellaneous liabilities.................

Total miscellaneous liabilities. . .

Total liabilities (excluding capital

accounts).......................................

CAPITAL ACCOUNTS 

Capital accounts:

Capital stock, notes, and debentures.

Surplus........................................................

Undivided profits.....................................

Reserve for contingencies......................

All other capital accounts......................

Total capital accounts...................

Total liabilities and capital accounts..

166,019

134,434

1,028

589

7,828

3,815

14,206

7,127

20,939

12,303

28,791

20,296

31,912

27,155

13,991

12,452

39,854

45,254

7,470

5,443

10,344

2,348

7,056

1,303

14,151

335,655

23 45 218 703

4

1,465

17

2,642

101

887

192

1,709

64,598

1,179

109

613

86

2,527

30,957

4,041

2,114

3,377

654

5,573

100,867

28Q

3

5

103

1,751

34

17

295

12,034

148

24

726

22,449

362

57

1,053

35,421

561

123

1,402

52,655

1,071

145

763

14,923

7,740,333 38,172 409,274 831,009 1,165,319 1,355,928 1,375,138 657,434 1,351,214 556,845

2,577,055

3,235,916

659,204

47,310

17,812

17,359

7,273

3,056

30

46

175,011

117,785

39,024

424

1,398

335,787

287,865

79,935

1,102

3,332

432,036

453,072

105,603

2,021

4,470

465,857

571,327

113,345

3,916

3,509

439,954

620,057

99,453

6,563

1,856

224,341

271,462

49,795

5,789

1,084

395,746

575,625

125,045

13,333

2,117

42,916

90,964

331,450

43,948

14,132

112,372 252 2,505 3,867 6,915 10,723 15,797 13,446 15,951

49,180

6,698,849

3,334,481

3,364,368

123

28,139

20,435

7,704

1,795

337,942

213,589

124,353

4,282

716,170

415,710

300,460

6,660

1,010,777

540,486

470,291

8,667

1,177,344

586,919

590,425

10,348

1,194,028

551,419

642,609

5,010

570,927

288,377

282,550

8,388

1,163,170

566,637

596,533

3,907

500,352

150,909

349,443

10,368 62 320 298 423 975 389 1 7,900

2,115

392

4,210

2,782

2,352 4 18

471

2,219

1,004

101

344

2,545

1,392

111

309

1,277

1,017

q

2,735

13,264

7,741

28

21

15

193

232

134

383

883

322

457

1,394

651

158

483

424

2,187 28 4 2 1,280

822

6,789

273 40 560

7,640

46,287

23

177

239

1,122

302

2,188

640

3,571

1,375

6,419

1,117

3,872

2,533

20,492

589

1,657

6,745,136 28,316 339,064 718,358 1,014,348 1,184,133 1,200,447 574,799 1,183,662 502,009

546,790

274,287

113,919

41,404

18,797

995,197

7,196

1,730

720

115

95

9,856

46,929

13,855

7,052

1,262

1,112

70,210

70,447

25,164

12,333

2,779

1,928

112,651

89,255

36,921

17,150

5,080

2,565

150,971

98,404

43,988

19,467

6,421

3,515

171,795

94,586

45,897

21,547

8,826

3,835

174,691

42,456

25,572

9,571

3,899

1,137

82,635

78,267

57,147

20,932

9,048

2,158

167,552

19,250

24,013

5,147

3,974

2,452

54,836

7,740,333 38,172 409,274 831,009 1,165,319 1,355,928 1,375,138 657,434 1,351,214 556,845 CO

1 Excludes the following insured banks not members of the Federal Reserve System: 

District of Columbia; and 3 other State banks.

Back figures— See the following Annual Reports:

2 national banks in Alaska; 1 national bank in the Virgin Islands; 8 State banks in the 

1938, p. 174; 1937, p. 116; 1936, p. 142; 1935, p. 176; 1934, p. 198.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 121. AVERAGES PER BANK OF ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F e d e r a l R e s e r v e S y s te m , D e c e m b e r 30, 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Number of banks2..............................

ASSETS

C ash, balances w ith oth er ban ks, and cash 

item s in process o f co lle ctio n :

Currency and coin ................................................

Balances with banks............................................

Cash items in process of collection..................

T ota l cash, balances w ith oth er banks, 

and cash item s in process o f c o llection ............................................................

Secu rities:

Direct obligations of the U. S. Government. . 

Obligations guaranteed by the U. S. Government ................................................................

Obligations of States and political subdivisions .....................................................

Other securities................. ..............................

T ota l secu ritie s .........................................

L oans, d iscou n ts, and overdrafts (in clu d ­

in g re d isco u n ts):

Commercial and industrial loans.................

Agricultural loans (excluding loans on farm

land)............................................................

Commercial paper bought in open market. 

Notes, bills, acceptances, etc., payable in

foreign countries...........................................

Acceptances of other banks, payable in the

United States............................................

Reporting banks’ own acceptances.............

Loans to brokers and dealers in securities. 

Other loans for the purpose of purchasing

or carrying securities...................................

Real estate loans:

On farm land.....................................................

On residential properties................................

On other properties..........................................

X<oans to banks......................................................

All other loans.......................................................

Overdrafts..............................................................

T otal loans, discou n ts, and overdrafts

T otal loans and secu rities....................

All

banks

7,162

$31,257

251,974

7,387

290,618

$134,763

37,518

82,835

85,701

340,817

$62,305

50,943

5,546

31

240

3,723

13,008

34,273

98,772

30,796

134

102,495

181

402,449

$743,266

Banks with deposits of—

$100,000

$3,816

30,423

231

34,470

$6,606

1,433

4,780

1,921

14,740

$5,003

21,992

55

68

128

6,265

2,648

961

71

9,079

113

46,383

$61,123

$100,000

to

$250,000

1,929

$6,554

57,799

482

64,835

$18,517

4,430

14,135

8,308

45,390

$9,904

37,334

269

4

17

322

14,629

8,249

2,309

93

22,470

101

95,706

$141,096

$250,000

to

$500,000

2,002

$11,999

111,016

1,035

124,050

$36,942

10,504

32,361

22,192

101,999

$21,467

54,978

983

22

113

71

1,278

28,056

22,935

5,464

90

42,248

122

177,827

$279,826

$500,000

to

$1,000,000

1,454

$22,743

205,352

2,994

231,089

$70,180

24,658

67,384

56,836

219,058

$48,109

65,988

2,790

1

12

183

4,181

48,670

60,451

16,004

176

80,194

190

326,949

$546,007

$1,000,000

to

$2,000,000

840

$48,719

392,008

9,642

450,369

$149,795

56,130

128,036

139,647

473,608

$115,492

63,896

7,295

25

73

74,9

16,142

55,634

159,189

38,132

257

170,379

274

627,539

$1,101,147

$2 ,000,000

to

$5,000,000

$97,946

753,032

29,288

880,266

$394,104

126,410

238,717

352,511

1,111,742

$257,280

49,315

29,931

12

52

77

5,826

49,112

62,983

390,536

99,903

45

314,598

283

1,259,953

$2,371,695

$5,000,000

to

$10,000,000

$224,517

1,812,287

83,437

2,120,241

$999,276

313,494

539,747

718,425

2,570,942

$499,931

34,632

55,494

770

402

33,851

117,264

78,311

714,977

246,276

931

725,643

1,219

2,509,701

$5,080,643

$10,000,000

to

$50,000,000

$549,850

4,990,900

219,417

5,760,167

$3,773,500

729,217

1.653.183 

1,952,283

8.108.183

$1,036,067

31,400

160,700

133

1,017

21,883

171,483

559,683

125,617

1,948,317

725,050

’ 2,188,300

1,117 

6,970,767

$15,078,950

More than 

$50,000,000 

0)

$3,292,667

11,805,166

856,500

$25,489,167

5,602,166

8,585,667

5,160,168

44,837,168

$989,500

83,333

1,668,500

1,119,667

243,167

14,410,500

7,384,833

'3,625,333

4,000

29,528,833

$74,366,001

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Miscellaneous assets:

Bank premises owned, furniture and fixtures 

Real estate owned other than bank premises 

Investments and other assets indirectly 

representing bank premises or other

real estate.......................................................

Other miscellaneous assets.................................

Total miscellaneous assets.......................

$23,181

18,770

1,444

3,471

46,866

$2,698

1,546

60

292

4,596

$4,058

1,978

23

179

6,238

$7,096

3,559

109

449

11,213

$14,401

8,461

484

1,015

24,361

$34,275

24,162

1,744

2,503

62,684

$79,186

67,382

6,556

7,168

160,292

$160,816

143,127

13,552

38,334

355,829

$664,233

754,233

67,350

195,300

1,681,116

$1,245,000

907,167

4,666

330,333

2,487,166

Total assets..................................................... $1,080,750 $100,189 $212,169 $415,089 $801,457 $1,614,200 $3,412,253 $7,556,713 $22,520,233 $92,807,500

LIABILITIES

Deposits:

Individuals, partnerships, and corporations:

Dem and.............................................................. $359,823 $45,562 $90,726 $167,725 $297,136 $554,592 $1,091,697 $2,578,632 $6,595,767 $15,160,667

Tim e.................................................................... 451,817 19,089 61,060 143,788 311,604 680,151 1,538,603 3,120,253 9,593,750 55,241,667

States and political subdivisions...................... 92,042 8,021 20,230 39,928 72,629 134,935 246,782 572,356 2,084,083 7,324,667

United States Government................................ 6,606 78 220 551 1,390 4,662 16,285 66,540 222,217 2,355,333

Postal savings........................................................ 2,487

15,690

121 725 1,664

1,932

3,074

4,756

4,177

12,765

4,606

39,199

12,460

154,552

35,283

Other banks............................................................ 661 1,299 715,267 2,658,500

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, etc.............................................................

Total deposits.................................................

6,867 323 930 2,139 4,581 10,318 25,677 57,586 139,800 651,166

935,332 73,855 175,190 357,727 695,170 1,401,600 2,962,849 6,562,379 19,386,167 83,392,000

Demand........................................................... £65,580 58,635 110,725 207,6U7 371,721* 698,713 1,368,286 3,31U,678 9 M3,950 25,151,500

Tim e................................................................ U69,752 20,220 6UM5 150,080 328 M S 702,887 1,59 U,563 3,21*7,701 9,91+2,217 58,21*0,500

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for borrowed m oney......................

Other miscellaneous liabilities...........................

$1,448

5,015

$163

302

$166

415

$149

944

$291

2,165

$1,161

6,921

$965

14,963

$12

44,494

$131,666

209,867 $276,167

Total miscellaneous liabilities............... 6,463 465 581 1,093 2,456 8,082 15,928 44,506 341,533 276,167

Total liabilities (excluding capital

accounts)................................................. $941,795 $74,320 $175,771 $358,820 $697,626 $1,409,682 $2,978,777 $6,606,885 $19,727,700 $83,668,167

CAPITAL ACCOUNTS

Capital accounts:

Capital stock, notes, and debentures............. $76,346 $18,887 $24,328 $35,188 $61,386 $117,148 $234,705 $488,000 $1,304,450 $3,208,333

Surplus.................................. .................................. 38,298 4,541 7,183 12,570 25,392 52,367 113,888 293,931 952,450 4,002,167

Undivided profits................................................. 15,906 1,890 3,656 6,160 11,795 23,175 53,466 110,012 348,867 857,833

Reserve for contingencies................................... 5,781 302 654 1,388 3,494 7,644 21,901 44,816 150,800 662,333

All other capital accounts.................................. 2,624 249 577 963 1,764 4,184 9,516 13,069 35,966 408,667

Total capital accounts............................... 138,955 25,869 36,398 56,269 103,831 204,518 433,476 949,828 2,792,533 9,139,333

Total liabilities and capital accounts. . $1,080,750 $100,189 $212,169 $415,089 $801,457 $1,614,200 $3,412,253 $7,556,713 $22,520,233 $92,807,500

1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.

2 Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 8 State banks in the 

District of Columbia; and 3 other State banks.

Back figures—See the following Annual Reports: 1938, p. 176; 1937, p. 118; 1936, p. 144; 1935, p. 178, 1934, p. 200.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 122. PERCENTAGE DISTRIBUTION OF ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS N O T MEM BERS OF THE

F e d e r a l R e s e r v e S ystem , D e c e m b e r 30, 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS ^

Banks with deposits ofAll

banks $100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000 

0)

Number of banks2........................................ 7,162 381 1,929 2,002 1,454 840 403 87 60 6

ASSETS

Cash, balances with other banks, and cash

items in process of collection:

Currency and coin ................................................

Balances with banks............................................

Cash items in process of collection..................

Total cash, balances with other banks,

and cash items in process of collection............................................................

2.9%

23.3

.7

26.9

3.8%

30.4 

.2

34.4

3.1%

27.3

.2

30.6

2.9%

26.7

.3

29.9

2 .8%

25.6

.4

28.8

3.0%

24.3

.6

27.9

2.9%

22.0

.9

25.8

3.0%

24.0 

1.1

28.1

2.4%

22.2

1.0

25.6

3.5%

12.8

.9

17.2

Securities:

Direct obligations of the U. S. Governm ent. . 

Obligations guaranteed by the U. S. Government ................................................................

Obligations of States and political subdivisions ..........................................................

Other securities.....................................................

Total securities..............................................

12.5%

3.5

7.7

7.9

31.6

6.6%

1.4

4.8

1.9 

14.7

8.7%

2.1

6.7

3.9

21.4

8.9%

2.5

7.8

5.4

24.6

8.8%

3.0

8.4

7.1 

27.3

9.3%

3.5

7.9

8.6

29.3

11.6%

3.7

7.0

10.3

32.6

13.2%

4.2

7.1

9.5

34.0

16.8%

3.2

7.4

8.6

36.0

27.5%

6.0

9.3

5.5

48.3

Loans, discounts, and overdrafts (including rediscounts):

Commercial and industrial loans.....................

Agricultural loans (excluding loans on farm 

land)................................................................

5.8%

4.7

5.0%

22.0

4.7%

17.6

5.2%

13.2

6.0%

8.2

7.2%

4.0

.5

7.6%

1.4

6.6%

.5

4.6%

.1

1-1%

Commercial paper bought in open market. . . 

Notes, bills, acceptances, etc., payable in 

foreign countries...........................................

.5 .1 .1 .2 .4 .9 .7 .7 .1

Acceptances of other banks, payable in the 

United States................................................

Reporting banks’ own acceptances.................. .1 .1

Loans to brokers and dealers in securities. . . .3 .2 .4 .8 1.8

Other loans for the purpose of purchasing

or carrying securities...................................

Real estate loans:

On farm land.....................................................

On residential properties................................

On other properties..........................................

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

1.2

3.2

9.1

2.9

.1

6.2

2.6

.9

.1

.2

6.9

3.9 

1.1

.3

6.8

5.5

1.3

.5

6.1

7.6

2.0

1.0

3.4 

9.9

2.4

1.4

1.8

11.5

2.9

1.6

1.0

9.5

3.3

2.5

.6

8.7

3.2

1.2

.2

15.5

8.0

All other loans.......................................................

Overdrafts..............................................................

9.5 9.1

.1

10.6 10.2

.1

10.0 10.5 9.2 9.6 9.7 3.9

Total loans, discounts, and overdrafts 37.2 46.3 45.1 42.8 40.8 38.9 36.9 33.2 31.0 31.8

Total loans and securities.................... 68.8% 61.0% 66.5% 67.4% 68.1% 68.2% 69.5% 67.2% 67.0% 80.1%

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Miscellaneous assets:

Bank premises owned, furniture and fixtures. 

Real estate owned other than bank premises. 

Investments and other assets indirectlyrepresenting bank premises or other

real estate............................................

Other miscellaneous assets......................

Total miscellaneous assets............

Total assets...........................................

LIABILITIES

Deposits:

Individuals, partnerships, and corporations:

Dem and....................................................

T im e..........................................................

States and political subdivisions............

United States Government.....................

Postal savings.............................................

Other banks.................................................

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, etc..................................................

Total deposits.......................................

Demand.................................................

Tim e......................................................

Miscellaneous liabilities:

Bills payable, rediscounts, and other

bilities for borrowed m oney.............

Other miscellaneous liabilities...................

Total miscellaneous liabilities. . . .

liaTotal liabilities

accounts).........

(excluding capital

CAPITAL ACCOUNTS

Capital accounts:

Capital stock, notes, and debentures.

Surplus.......................................................

Undivided profits.....................................

Reserve for contingencies......................

All other capital accounts.....................

Total capital accounts...................

Total liabilities and capital accounts.

2.1% 2.7% 1.9% 1.7% 1.8% 2.1% 2.3% 2.1% 2.9% 1.3%

1.7 1.5 .9 .9 1.1 1.5 2.0 1.9 3.3 1.0

.1 .1 .1 .1 .2 .2 .3

.4 .3 .1 .1 .1 .2 .2 .5 .9 .4

4.3 4.6 2.9 2.7 3.1 3.9 4.7 4.7 7.4 2.7

100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

33.3% 45.5% 42.8% 40.4% 37.1% 34.3% 32.0% 34.1% 29.3% 16.4%

41.8 19.1 28.8 34.7 38.9 42.1 45.1 41.3 42.6 59.5

8.5 8.0 9.5 9.6 9.1 8.4 7.2 7.6 9.3 7.9

.6 .1 .1 .1 .1 .3 .5 .9 1.0 2.5

.2 .1 .4 .4 .4 .3 .1 .1 .1

1.5 .7 .6 .5 .6 .8 1.2 2.0 3.2 2.9

.6 .2 .4 .5 .5 .6 .8 .8 .6 .7

86.5 73.7 82.6 86.2 86.7 86.8 86.9 86.8 86.1 89.9

US .0 53.5 52.2 50.0 U6.3 US.3 Uo.i US .8 U1.9 27.1

us.5 20.2 30.U 36.2 uo.u US.5 U6.8 U3.0 UU-2 62.8

•1% •2% .1% .6%

.5 .3 .2% .2% •3% .4 .4% .6% .9 .3%

.6 .5 .2 .2 .3 .5 .4 .6 1.5 .3

87.1% 74.2% 82.8% 86.4% 87.0% 87.3% 87.3 % 87.4% 87.6% 90.2%

7.1% 18.9% 11.5% 8.5% 7.7% 7.3% 6.9% 6.5% 5.8% 3.5%

3.6 4.5 3.4 3.0 3.2 3.3 3.3 3.9 4.2 4.3

1.4 1.9 1.7 1.5 1.5 1.4 1.6 1.5 1.6 .9

.5 .3 .3 .3 .4 .5 .7 .6 .6 .7

.3 .2 .3 .3 .2 .2 .2 .1 .2 .4

12.9 25.8 17.2 13.6 13.0 12.7 12.7 12.6 12.4 9.8

100.0% 100.0% 100.0% 1 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.

2 Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 8 State banks in the 

District of Columbia; and 3 other State banks.

Back figures— See the following Annual Reports: 1938, p, 178; 1937, p. 120; 1936, p. 146; 1935, p. 180; 1934, p. 202, COASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE CORPORATION

Table 123. N UM BER OF INSURED BAN KS W ITH RECONSTRUCTION FINANCE CORPORATION CAPITAL INVESTMENT, DECEMBER 31, 1934-1939

GROUPED ACCORDING TO FEDERAL RESERVE MEMBERSHIP AND BY TYPE OF BANK AND STATE

Banks members of the F. R. System1 Operating banks not members of the F. R. System2

1934 1935 1936 1937 1938 1939 1934 1935 1936 1937 1938 1939

COMMERCIAL BANKS 

U nited States and possessions— t o t a l................... 2,055 2,279 2,115 1,938 1,862 1,749 3,347 3,396 3,183 32,949 2,789 2,584

State

Alabama.................................... 24

3

26

2

22

2

16

2

15

1

15

1

39

1

36

1

34

1

32

1

30 28

Arkansas.................................... 28 27 24 21 19 18 82 83 80 72 68 60

California.................................. 66 63 56 43 40 37 52 49 39 34 32 30

Colorado.................................... 30 33 31 31 27 24 22 23 23 20 18 15

Connecticut.............................. 14 16 15 15 15 15 23 23 22 22 21 21

Delaware................................... 3 4 4 4 4 4 7 7 6 6 6 5

District of Colum bia............. 2 2 2 3 3 4 5 5 5 4 4 3

Florida....................................... 13 14 15 14 14 12 23 25 25 25 23 22

Georgia...................................... 24 22 21 19 18 16 60 54 52 48 45 42

Idaho......................................... 12 13 13 11 11 10 9 11 11 11 10 10

Illinois........................................ 122 132 127 119 116 110 73 72 61 48 44 40

Indiana...................................... 48 54 47 47 48 42 216 216 203 187 178 163

Iow a........................................... 50 49 44 44 38 37 78 84 78 74 69 66

Kansas....................................... 44 52 50 44 41 39 116 139 137 125 119 111

Kentucky.................................. 27 30 30 29 25 18 72 80 76 70 67 65

Louisiana.................................. 14 17 17 17 17 17 90 86 71 68 65 59

M aine........................................ 14 14 14 13 13 10 9 10 10 10 10 10

Maryland.................................. 9 17 16 15 15 14 47 48 47 46 44 42

Massachusetts.......................... 47 45 36 30 30 25 16 16 16 15 15 14

M ichigan................................... 66 80 79 76 77 74 99 96 85 80 73 70

M innesota................................. 90 95 72 67 63 59 134 135 127 123 119 108

Mississippi................................ 14 15 15 15 15 15 131 127 122 121 119 114

Missouri.................................... 48 48 44 41 39 37 137 155 145 130 122 114

M ontana................................... 26 24 21 19 19 14 27 25 24 21 19 19

Nebraska................................... 44 49 49 45 42 38 92 94 83 74 70 63

N evada...................................... 3 3 2 2 2 2 1 1 1 1 1 1

New Hampshire ............... 7 8 6 4 4 5 1 1 1 1 1

New Jersey............................... 110 160 154 149 146 143 41 44 43 42 40 33

New M exico............................. 8 8 8 8 8 8 8 10 9 9 8 8

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
New Y ork .........

North Carolina. 

North Dakota. .

O h io....................

Oklahoma..........

Oregon................

Pennsylvania. . . 

Rhode Island.. . 

South Carolina. 

South D akota. .

Tennessee. 

Texas. . . .

U tah.........

Vermont. . 

Virginia...

W ashington. . . 

West Virginia.

Wisconsin........

W yom ing.........

Possession

Alaska..............

Virgin Islands.

MUTUAL SAVINGS BANKS

United States— total..............

State

M aine..........

New Jersey.

O hio..............

Vermont. . . . 

Wisconsin.. .

254

20

26

103

35

22

185

23

147

19

9

35

36 

30 

45 

11

292

21

29

107

40

20

207

3

6

33

29

157

19

9

38

263

20

24

104

37

18

201

3

5

26

26

152

18

9

33

34 

34 

61 

11

231

20

22

95

31

10

186

3

26

144

17

8

30

23

33

57

229

16

20

90

28

10

185

3

5

26

25

134

17

8

31

17

31

54

221

13

19

91

24

180

3

3

24

22

124

17

8

28

15

29

50

7

146

110

96

247

29

30 

1

25

86

226

20

33

91

50

42

308

10

29

139

102

95

237

6

29

67

1

27

81

89

209

18

33

91

50

44

311

10

25

5 6

1 1

2 2

18 13

3 3

120 103 99 94

98 91 85 77

85 77 69 61

227 208 200 180

5 5 5 5

28 24 24 21

68 65 63 61

1 1 1 1

28 27 26 22

73 65 53 51

86 84 81 78

192 174 167 147

16 16 15 15

33 32 30 27

90 86 82 74

52 46 43 40

46 43 40 37

288 272 256 247

9 9 9 8

1 1 1 1

25 25 19 19

6 6 6 6

1 1 1 1

2 2 2 2

13 13 7 7

3 3 3 3

1 Data obtained from reports of the Reconstruction Finance Corporation. Figures include some banks which have ceased operations, and for this and other reasons are not 

strictly comparable with the figures for operating insured banks not members of the Federal Reserve System.

2 Data obtained from the records of the Federal Deposit Insurance Corporation.

3 Revised.

CAPITAL INVESTMENT RECONSTRUCTION FINANCE CORPORATION 145

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Federal Reserve Bank of St. Louis
Table 124. CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE CORPORATION IN BANKS M EM BERS OF THE FEDERAL RESERVE

S y s te m , b y S t a t e , D e c e m b e r 31, 1934-19391

(Amounts in thousands of dollars)

1934 1935 1936 1937 1938 1939

616,097 655,386

9,942

450,973 376,673 365,256 320,944

State

10,811 10,433 8,962 8,095 7,670

1,140 1,340 1,340 1,323 1,215 1,203

2,060 2,140 2,022 1,819 1,741 1,518

35,236 35,166 24,869 16,307 33,101 31,503

4,098 4,301 3,524 2,479 1,866 1,510

2,974 3,703 3,590 3,272 3,157 3,013

Delaware .......................................................................... 115 137 137 130 130 123

District of Columbia .................................................................. 1,100 1,100 1,100 1,575 1,432 1,408

Florida................................................................................................... 930 1,403 1,423 1,097 951 638

G eorg ia ................................................................................................ 2,748 2,650 2,035 1,675 1,561 1,364

1,400 1,410 1,390 1,557 1,435 1,293

85,052 75,160 53,736 42,682 32,575 6,949

7,839 8,118 5,536 5,037 4,788

3,652

4,192

7,504 7,368 5,922 4,385 3,475

Kansas ........................................................................................... 2,265 2,439 2,225 1,890 1,582 1,454

3,963 4,682 4,224 3,645 3,284 2,832

4,520 6,115 5,423 5,364 4,891 4,256

4,710 4,606 2,908 2,351 1,969 1,150

3,885 4,937 4,719 4,086 4,138 3,926

12,834 12,662 10,488 7,629 6,954 5,903

27,593 28,184 26,683 25,064 24,329 22,225

13,178 12,553 9,042 6,462 5,392 4,799

2,348 2,647 2,530 2,268 1,974 1,973

11,473 7,313 6,297 4,591 4,186 3,620

2,953 2,322 1,954 1,153 814 591

5,346 5,164 4,457 3,011 2,077 1,844

175 175 75 74 72 70

627 502 347 141 136 166

27,458 48,154

434

44,482 42,037 44,909 45,257

442 426 369 336 331

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
New Y ork . . . . 

North Carolina 

North Dakota.

O hio..................

Oklahoma........

Oregon.............

Pennsylvania. . 

Rhode Island.. 

South Carolina 

South D akota.

Tennessee........

Texas................

U tah.................

Vermont...........

Virginia............

W ashington. . . 

West Virginia. ,

Wisconsin........

W yom ing.........

185,896 193,925 61,222 47,840 46,712 3,305 3,468 3,089 2,766 2,195 2,188 2,022 1,567 1,204 911 52,455 51,038 48,405 43,069 41,034

9,959 9,039 6,235 3,156 2,313

927 741 568 215 190 24,421 29,095 25,360 23,175 22,061 649 649 500 480 453 1,005 1,505 1,364 1,336 1,322

2,934 2,809 2,284 2,243 1,848

2,563 8,265 7,875 7,252 6,660

21,925 22,466 19,412 16,082 14,021

2,665 2,590 2,138 1,821 1,637 560 498 473 428 415 5,841 5,205 4,115 3,522 3,233

3,753 4,322 3,198 2,372 1,840

3,100 3,220 2,791 2,326 1,868 4,517 16,999 16,361 14,503 13,438

657 703 679 448 363

47,321 

1,9 7 

833 

39,368 

1,746

165

21,171

426

1,160

1,654

6,179

11,890

1,437

396

3,071

1,978

1,546

12,178

262

strictl^eomDarahlp(^ f h nfh'p^(cmri^ffnreR^P'Cr'nS^rU'^ i)^1 Fin?nce p.orP°rati? n - . Figures include some banks which have ceased operations, and for this and other reasons are not strictly comparable with the figures for R .F .C . capital investment m operating insured banks not members of the Federal Reserve System shown in Table 125.

CAPITAL IN VESTM EN T RECO N STRU CTIO N FINANCE CORPORATION 147

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 125. C a p it a l In v e s t m e n t o f t h e R e c o n s t r u c t io n F in a n c e C o r p o r a tio n in O p e r a t in g I n s u r e d B a n k s n o t M e m b e r s o f

t h e F e d e r a l R e s e r v e S ystem , 1934-1939, a n d C h a n g e s D u r in g 1939

BANKS GROUPED BY TYPE AND STATE

(Amounts in thousands of dollars)

COMMERCIAL BANKS 

U nited States and possessions— t o ta l.

State

A labam a.. 

Arizona. . . 

Arkansas.. 

California. 

C olorado..

Connecticut.................

Delaware......................

District of Columbia.

Florida..........................

Georgia.........................

Idaho. . . 

Illinois.. 

Indiana. 

Iow a . . . 

Kansas.

Kentucky........

Louisiana.........

Maine...............

M aryland........

Massachusetts.

M ichigan. . 

Minnesota.

Missouri. 

Montana.

Nebraska.............

Nevada.................

New Hampshire.

New Jersey.........

New M exico........

1934

206,230

1,340

50

2,044

12,927

560

3,469

375

1,800

596

1,798

205

4,106

7,036

2,500

2,457

3,597

4,831

1,633

3,345

2,575

8,269

3,322

6,146

3,308

684

1,954

30

14,558

177

R .F.C . capital outstanding December 31—

1935

211,584

1,078

25

2,090

12,772

575

3,410

223

1,500

588

1,675

215

4,201

7,831

2,485

2,635

3,724

4,583

2,925

4,050

2,575

8,771

3,250

5,922

3,586

665

1,727

30

100

20,291

233

1936

192,491

1,021

25

1,970

11,211

575

2,904

209

1,445

546

1,618

230

3,111

7,450

2,296

2,533

3,106

3,476

2,920

3,497

2,575

7,401

2,582

5,687

3,289

585

1,513

30

100

23,022

247

1937

171,260

811

25

1,793

9,697

513

2,806

187

768

528

1,459

225

2,215

6,241

2,045

2,232

2,942

2,778

2,896

3,282

2,116

6,573

2,224

5,457

2,786

433

1,213

29

100

22,638

243

1938

766

1,664

8,275

488

2,545

187

708

467

1,332

196

2,453

5,522

1,817

2,019

2,795

2,296

2,807

2,994

2,099

5,223

2,106

5,165

2,572

376

1,003

25

100

21,596

219

1939

156,259

664

1,261

7,657

425

2,413

86

465

396

1,125

169

2,195

5,127

1,509

1,748

2,884

1,993

2,784

2,713

1,944

3,880

1,862

4,831

2,329

371

829

20

100

35,460

209

Changes during 1939

Disbursements1

16,068

175

200

350

14

15,153

Retirements1

10,463

618

48

132

101

15

96

207

27

159

267

146

211

21

303

23

241

105

1,233

179

298

191

5

156

5

239

10

Other

deductions2

8,363

15

is’

228

99

303

162

60

40

50

110

65 

386

66

19

' 1,050'

00FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
New Y ork .........

North Carolina. 

North Dakota. .

O hio....................

Oklahoma..........

Oregon................

Pennsylvania. . . 

Rhode Island.. . 

South Carolina. 

South D akota. .

Tennessee. 

Texas. . . .

U tah.........

Vermont. . 

Virginia...

W ashington. . . 

West Virginia.

Wisconsin........

W yom ing.........

Possession

Alaska..............

Virgin Islands.

MUTUAL SAVINGS BANKS

United States— total...............................

State

M aine..........

New Jersey.

O hio..............

Vermont. . . . 

W isconsin.. .

31,305

3,651

1,569

19,397

957

11,479

250

1,141

1,256

3,307

6,975

775

7,060

4,271

1,213

1,971

13,338

585

38

12,260

1,365

300

3,200

7,025

370

26,850

3,742

1,549

18,753

60

954

14,959

250

687

980

3,142

6,563

500

7,210

4,392

1,156

2,136

13,338

590

13,585

1,440

600

3,200

8,025

320

21,599

3,497

1,224

14,032

50

931

14,954

250

712

882

4,002

5,734

470

7,110

4,103

1,068

2,166

11,860

549

12,535

1,440

600

2,200

8,025

270

16,975

3,207

1,133

12,497

50

841

14,361

249

673

761

3,913

4,853

455

6,885

3,530

693

1,897

10,377

532

123

12,458

1,366

600

2,198

8,024

270

16,315

2,918

980

11,007

44

806

14,173

245

647

600

3,826

4,457

418

6,676

3,023

631

1,833

9,957

525

12,966

1,325

600

1,696

9,100

245

13,411

2,395

892

7,716

40

747

13,874

243

536

558

3,665

3,644

359

6,058

2,480

664

1,684

9,213

511

120

12,807

1,287

600

1,660

9,044

216

10

342

510

18

1,137

14

59

199

2

111

42

101

495

59

618

344

149

684

14

159

38

56

29

2,562

13

70

2,154

60

318

199

29

io o ’

1 Excludes changes due to conversion of preferred stock loans to capital notes and debentures, preferred stock loans to preferred stock, and capital notes and debentures to 

preferred stock.

2 Due to changes in charter jurisdiction, insurance status, etc.

Back figures— See the following Annual Reports: 1938, p. 182; 1937, p. 123; 1936, p. 163; 1935, p. 197.

CAPITAL INVESTMENT RECONSTRUCTION FINANCE CORPORATION 149

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Federal Reserve Bank of St. Louis
Table 126. EXA M IN ER S' ANALYSIS OF CAPITAL AND LIABILITIES OF INSURED COMMERCIAL BAN KS EXAM INED IN 1939

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

EXAMINERS’ ANALYSIS OF INSURED COMMERCIAL BANKS ©

Capital accounts Adjusted liabilities (exclusive of 

capital accounts)

Number

of

banks

Book value Examiners’

deductions

(net)2

Net sound capital

Total Deposits Other

Total R. F. C .1 Private Total R. F. C.i Private

liabilities

All b a n k s ............................................................ 13,505 6,472,560 437,806 6,034,754

i

312,137

[In thousanc 

6,160,423

Is of dollars) 

j 501,190 5,659,233 51,792,301 50,976,656 815,645

Banks w ith n et sound capita! 

per $100 o f appraised value of

assets o f—

$0.00 or less ............................................... 10 2,054 325 1,729 2,359 3-305 325 <-630 10,126 9,697 429

$0.01 to $4.99 ............................................... 75 33,239 9,032 24,207 21,526 11,713 25,141 4-13,428 352,417 348,121 4,296

$5 00 to $9.99 ............................................. 2,799 2,779,401 203,765 2,575,636 136,499 2,642,902 227,667 2,415,235 29,888,870 29,337,366 551,504

$10.00 to $14.99............................................. 5,958 2,384,884 150,939 2,233,945 106,352 2,278,532 172,950 2,105,582 16,554,384 16,345,058 209,326

$15.00 to $19.99....................................

$20.00 to $24.99 ...........................................

! 2,900 

! 1,119

719,159

266,075

41,415

15,402

677,744

250,673

40,261

15,906

678,898

250,169

42,760

15,419

636,138

234,750

3,397,165

890,398

3,375,596

871,402

21,569

18,996

$25.00 to $29.99............................................. 378 190,583 6,547 184,036 S ,899 193,982 6,547 .187,435 505,608 500,415 5,193

$80.00 to $34.99............................................. 145 55,578 9,017 46,561 2,426 53,152 9,017 44,135 115,734 112,918 2,816

$35.00 or more ............................................. 121 41,587 1,364 40,223 9,793 51,380 1,364 50,016 77,599 76,083 1,516

Banks w ith fixed and substandard 

assets per $100 o f appraised value 

o f assets o f—

$0.00 ................................................. 40 15,445 104 15,341 705 16,150 104 16,046 103,497 101,969 1,528

$0 01 to $4.99 ........................................... 3,878 2,452,573 104,734

116,241

2,347,839 25,261

115,005

2,427,312 108,720 2,318,592 22,390,299 22,211,191 179,108

$5.00 to $9.99................................................. 4,288 2,366,581 2,250,340 2,251,576 126,743 2,124,833 19,356,230 18,805,495 550,735

$10 00 to $14.99 .......................................... 2,603 762,757 86,867 675,890 51,982 710,775 91,544 619,231 5,114,461 5,083,948 30,513

$15 00 to $19.99 ........................................... 1,355

701

471,351 59,506 411,845 46,845 424,506 78,074 346,432 2,878,346 2,855,534 22,812

$20 00 to $24.99 ...................................... 175,190 22,959 152,231 23,973 151,217 25,991 125,226 887,892 882,460 5,432

$25 00 to $29.99 ........................................ 308 82,335 14,070 68,265 14,193 68,142 25,288 42,854 437,772 431,180 6,592

$30.00 to $34.99............................................. 172 61,807 13,076 48,731 7,275 54,532 20,942 33,590 320,209 317,183 3,026

$35.00 or m ore................................................ 160 84,521 20,249 64,272 28,308 56,213 23,784 32,429 303,595 287,696 15,899

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Banks with 3-year average net current operating earnings per $100

of total assets of—

$-0.50 or m ore................................................

$-0.01 to $ -0.4 9 .............................................

17

90

3,308

15,419

596

1,326

2,712

14,093

267

2,915

3,041

12,504

596

1,546

2,445

10,958

7,248

89,163

7,034

87,978

214

1,185

$0.00 to $0.49...............................................

$0.50 to $0.99...............................................

$1.00 to $1.49.................................................

$1.50 to $1.99.................................................

1,100

4,113

4,614

2,253

587,632

3,581,557

1,520,503

603,338

42,879

223,230

131,743

28,949

544,753

3,358,327

1,388,760

574,389

34,034

169,588

88,317

23,541

553,598

3,411,969

1,432,186

579,797

60,272

249,624

150,193

29,876

493,326

3,162,345

1,281,993

549,921

5,689,516

31,726,051

10,501,108

3,029,188

5,639,887

31,086,848

10,411,927

3,008,916

49,629

639,203

89,181

20,272

$2.00 to $2.49.................................................

$2.50 to $2.99.........................................

$3.00 or m ore..................................................

Not available.................................................

814

297

186

21

92,938

47,239

18,434

2,192

6,457

1,755

820

51

86,481

45,484

17,614

2,141

3,088

9,979

327

39

89,850

57,218

18,107

2,153

6,457

1,755

821

50

83,393

55,463

17,286

2,103

450,914

218,379

66,776

13,958

446,426

209,905

63,802

13,933

4,488

8,474

2,974

25

Banks with deposits of—

$100,000 or less......................................

$100,000 to $250,000............................

$250,000 to $500,000............................

488

2,486

3,118

13,464

98,714

199,326

1,562

10,364

19,153

11,902

88,350

180,173

1,039

5,227

9,564

12,425

93,487

189,762

1,562

10,412

19,437

10,863

83,075

170,325

36,210

440,632

1,137,176

35,699

438,308

1,132,048

511

2,324

5,128

$500,000 to $1,000,000........................

$1,000,000 to $2,000,000.....................

$2,000,000 to $5,000,000.....................

2,937

2,064

1,425

340,979

450,070

643,663

30,581

43,654

59,060

310,398

406,416

584,603

18,158

30,182

42,272

322,821

419,888

601,391

31,019

45,305

63,809

291,802

374,583

537,582

2,109,921

2,928,346

4,355,618

2,100,606

2,913,920

4,333,556

9,315

14,426

22,062

$5,000,000 to $10,000,000............................

$10,000,000 to $50,000,000.........................

More than $50,000,000................................

487

383

117

468,084

954,887

3,303,373

51,937

102,436

119,059

416,147

852,451

3,184,314

25,067

52,000

128,628

443,017

902,887

3,174,745

53,800

140,874

134,972

389,217

762,013

3,039,773

3,401,180

7,949,632

29,433,586

3,379,020

7,879,749

28,763,750

22,160

69,883

669,836

I § ° ok vaJue. is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital, 

figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the 

amount of liabilities not shown on the books.

3 Adjusted liabilities exceed the appraised value of assets.

4 Adjusted liabilities plus the retirable value of R. F. C. capital exceed the appraised value of assets.

N OTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures For 1938 figures of banks grouped by amount of deposits, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 184.

EXAMINERS' ANALYSIS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 127. N e t S o u n d C a p it a l R a t io s of I n s u r e d C o m m e r c ia l B a n k s E x a m i n e d in 1939

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

Per $100 of capital accounts (book value) Net sound capital 

per $100 of—

Number

of

banks

Book value Examiners’

deductions

(net)2

Net sound capital Appraised 

value 

of assets

Deposits

Total R. F. C.i Private Total R. F. C.i Private

All banks............................................................. 13,505 $100.00 $ 6.76 $ 93.24 $ 4.82 $ 95.18 $ 7.74 $ 87.44 $ 10.63 $ 12.08

Banks with net sound capital

per $100 of appraised value of

assets of—

$0.00 or less..................................................... 10 100.00 15.82 84.18 114.85 s-14.85 15.82 4-30.67 3-3.11 3-3.15

$0.01 to $4.99................................................. 75 100.00 27.17 72.83 64.76 35.24 75.64 4-40.40 3.22 3.36

$5.00 to $9.99................................................. 2,799 100.00 7.33 92.67 4.91 95.09 8.19 86.90 8.12 9.01

$10.00 to $14.99............................................. 5,958 100.00 6.33 93.67 4.46 95.54 7.25 88.29 12.10 13.94

$15.00 to $19.99............................................. 2,900 100.00 5.76 94.24 5.60 94.40 5.95 88.45 16.66 20.11

$20.00 to $24.99............................................. 1,119 100.00 5.79 94.21 5.98 94.02 5.79 88.23 21.93 28.71

$25.00 to $29.99............................................. 378 100.00 3.44 96.56 1.78 101.78 3.44 98.34 27.73 38.76

$30.00 to $34.99............................................. 145 100.00 516.22 583.78 4.37 95.63 516.22 579.41 31.47 47.07

$35.00 or m ore................................................ 121 100.00 3.28 96.72 623.55 123.55 3.28 120.27 39.84 67.53

Banks with fixed and substandard

assets per $100 of appraised value

of assets of—

$0.00.................................................................. 40 100.00 .67 99.33 U.56 104.56 .67 103.89 13.50 15.84

$0.01 to $4.99................................................. 3,878 100.00 4.27 95.73 1.03 98.97 4.43 94.54 9.78 10.93

$5.00 to $9.99................................................. 4,288 100.00 4.91 95.09 4.86 95.14 5.36 89.78 10.42 11.97

$10.00 to $14.99............................................. 2,603 100.00 11.39 88.61 6.81 93.19 12.00 81.19 12.20 13.98

$15.00 to $19.99............................................. 1,355 100.00 12.62 87.38 9.94 90.06 16.56 73.50 12.85 14.87

$20.00 to $24.99............................................. 701 100.00 13.11 86.89 13.68 86.32 14.84 71.48 14.55 17.14

$25.00 to $29.99............................................. 308 100.00 17.09 82.91 17.24 82.76 30.71 52.05 13.47 15.80

$30.00 to $34.99............................................. 172 100.00 21.16 78.84 611.77 88.23 33.88 54.35 14.55 17.19

$35.00 or m ore................................................ 160 100.00 23.96 76.04 33.49 66.51 28.14 38.37 15.62 19.54

152 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Banks with 3-year average net current operating earnings per $100

of total assets of—

$-0.50 or more......................................

$-0.01 to $-0.49...................................

$0.00 to $0.49.......................................

$0.50 to $0.99.......................................

$1.00 to $1.49.......................................

$1.50 to $1.99.......................................

$2.00 to $2.49.......................................

$2.50 to $2.99.......................................

$3.00 or more........................................

Not available........................................

Banks with deposits of—

$100,000 or less....................................

$100,000 to $250,000..........................

$250,000 to $500,000..........................

$500,000 to $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 $50,000,000...............

More than $50,000,000......................

17 100.00 18.02 81.98 8.07 91.93 18.02 73.91 29.56 43.23

90 100.00 8.60 91.40 18.91 81.09 10.03 71.06 12.30 14.21

1,100 100.00 7.30 92.70 5.79 94.21 10.26 83.95 8.87 9.82

4,113 100.00 6.23 93.77 4.74 95.26 6.97 88.29 9.71 10.98

4,614 100.00 8.66 91.34 5.81 94.19 9.88 84.31 12.00 13.76

2,253 100.00 4.80 95.20 3.90 96.10 4.95 91.15 16.07 19.27

814 100.00 6.95 93.05 3.32 96.68 6.95 89.73 16.62 20.13

297 100.00 3.72 96.28 s21.12 121.12 3.72 117.40 20.76 27.26

186 100.00 4.45 95.55 1.77 98.23 4.45 93.78 21.33 28.38

21 100.00 2.33 97.67 1.78 98.22 2.28 95.94 13.36 15.45

488 100.00 11.60 88.40 7.72 92.28 11.60 80.68 25.55 34.81

2,486 100.00 10.50 89.50 5.30 94.70 10.55 84.15 17.50 21.33

3,118 100.00 9.61 90.39 4.80 95.20 9.75 85.45 14.30 16.76

2,937 100.00 8.97 91.03 5.33 94.67 9.10 85.57 13.27 15.37

2,064 100.00 9.70 90.30 6.71 93.29 10.07 83.22 12.54 14.41

1,425 100.00 9.18 90.82 6.57 93.43 9.91 83.52 12.13 13.88

487 100.00 11.10 88.90 5.36 94.64 11.49 83.15 11.52 13.11

383 100.00 10.73 89.27 5.45 94.55 14.75 79.80 10.20 11.46

117 100.00 3.60 96.40 3.89 96.11 4.09 92.02 9.74 11.04

1 Book value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.

2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the 

amount of liabilities not shown on the books.

3 Adjusted liabilities exceed the appraised value of assets.

* Adjusted liabilities plus the retirable value of R . F. C. capital exceed the appraised value of assets.

6 For explanation of the apparent irregularity in this item, see page 76.

N OTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures— For 1938 figures of banks grouped by amount of deposits, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 186.

EXAMINERS’ ANALYSIS OF INSURED BANKS 153

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY FDIC DISTRICT AND STATE

(Amounts in thousands of dollars)

Table 128. EXAMINERS* A n a l y s is OF CAPITAL AND LIABILITIES OF INSURED COMMERCIAL BANKS EXAMINED IN 1939

Number

of

banks

Capital accounts Adjusted liabilities (exclusive of 

capital accounts)

Book value

Examiners’

deductions

(net)2

Net sound capital

Total Deposits

Other

liabilities

Total R . F. C.i Private Total R . F. C.i Private

United States— total.............. 13,505 6,472,560 437,806 6,034,754 312,137 6,160,423 501,190 5,659,233 51,792,301 50,976,656 815,645

FDIC District

District 1 .................................. 498 441,599 25,525 416,074 27,197 414,402 26,299 388,103 2,932,941 2,874,525 58,416

District 2 .................................. 1,130 2,240,136 89,103 2,151,033 151,963 2,088,173 129,193 1,958,980 17,806,993 17,265,100 541,893

District 3 .................................. 1,736 1,140,457 79,782 1,060,675 67,993 1,072,464 86,476 985,988 6,854,029 6,798,528 55,501

District 4 .................................. 1,007 304,038 22,828 281,210 10,325 293,713 23,035 270,678 2,267,045 2,251,518 15,527

District 5 ................................ 969 228,623 23,551 205,072 5,988 234,606 25,115 209,491 1,847,584 1,836,732 10,852

District 6 .................................. 1,460 295,643 23,736 271,907 8,715 286,928 24,501 262,427 2,618,847 2,604,640 14,207

District 7 .............................. 1,464 347,673 58,886 288,787 8,083 339,590 59,024 280,566 3,209,826 3,191,636 18,190

District 8 .................................. 1,420 481,281 40,035 441,246 3,819 477,462 40,035 437,427 5,108,755 5,085,212 23,543

District 9 .................................. 1,087 134,539 11,051 123,488 3,758 130,781 11,458 119,323 1,171,026 1,162,084 8,942

District 1 0 ................................ 1,402 181,939 11,174 170,765 3,531 178,408 11,267 167,141 1,515,313 1,509,223 6,090

District 1 1 ................................ 828 189,917 17,376 172,541 3,480 186,437 18,033 168,404 1,611,951 1,605,132 6,819

District 1 2 ................................ 504 486,715 34,759 451,956 29,256 457,459 46,754 410,705 4,847,991 4,792,326 55,665

State

Alabama.................................... 208 48,388 6,325 42,063 1,160 47,228 7,890 39,338 298,995 297,237 1,758

Arizona .................................. 11 7,475 1,209 6,266 98 7,377 1,209 6,168 90,701 89,714 987

Arkansas ................................ 206 23,582 2,654 20,928 816 22,766 2,683 20,083 165,100 164,499 601

California .............................. 194 380,815 27,817 352,998 27,837 352,978 39,813 313,165 3,811,351 3,762,753 48,598

Colorado.................................... 138 34,401 2,125 32,276 483 33,918 2,125 31,793 329,338 327,396 1,942

Connecticut.............................. 101 75,182 5,553 69,629 4,714 70,468 5,591 64,877 504,003 500,542 3,461

Delaware................................... 41 23,924 313 23,611 1,639 22,285 313 21,972 97,392 96,892 500

District of Columbia............. 22 47,147 1,836 45,311 1,024 46,123 1,836 44,287 345,245 342,727 2,518

Florida....................................... 160 41,514 1,148 40,366 1,007 40,507 1,148 39,359 397,204 396,145 1,059

Georgia...................................... 266 62,980 2,649 60,331 9,238 72,213 2,649 69,564 442,426 438,871 3,555

Idaho .................................. 46 9,491 1,576 7,915 20 9,511 1,576 7,935 88,010 87,821 189

Illinois........................................ 837 415,810 34,745 381,065 3,431 412,379 34,746 377,633 4,480,391 4,458,514 21,877

Indiana...................................... 473 101,841 9,505 92,336 4,535 97,306 9,506 87,800 852,139 848,846 3,293

Iowa ......................................... 583 65,471 5,290 60,181 388 65,083 5,290 59,793 628,364 626,698 1,666

Kansas....................................... 456 44,803 3,261 41,542 1,095 43,708 3,354 40,354 348,346 347,413 933

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Kentucky.................................. 371 63,349 4,944 58,405

Louisiana.................................. 142 49,953 6,599 43,354

M aine......................................... 60 31,347 3,843 27,504

Maryland.................................. 175 67,049 6,947 60,102

Massachusetts.......................... 192 273,134 8,079 265,055

Michigan................................... 430 136,078 27,280 108,798

Minnesota................................. 651 96,187 6,107 90,080

Mississippi................................ 193 25,787 6,828 18,959

Missouri.................................... 591 143,109 6,511 136,598

M ontana.................................... 112 15,691 999 14,692

Nebraska................................... 367 37,853 2,787 35,066

N evada...................................... 10 3,123 90 3,033

New Hampshire...................... 56 16,166 481 15,685

New Jersey............................... 354 210,821 39,791 171,030

New M exico............................. 40 5,487 547 4,940

New Y o rk ................................. 735 2,005,391 48,999 1,956,392

North Carolina........................ 211 38,831 3,035 35,796

North D akota.......................... 158 10,238 1,789 8,449

O hio............................................ 687 294,489 47,377 247,112

Oklahoma.................................. 383 56,611 2,222 54,389

Oregon....................................... 71 26,323 949 25,374

Pennsylvania............................ 1,049 845,967 32,404 813,563

Rhode Island............................ 15 20,880 678 20,202

South Carolina........................ 111 15,644 1,811 13,833

South D akota.......................... 166 12,424 2,157 10,267

Tennessee.................................. 292 65,603 9,627 55,976

Texas.......................................... 777 176,955 15,620 161,335

U tah........................................... 51 18,381 1,817 16,564

Vermont.................................... 74 24,890 6,891 17,999

Virginia...................................... 314 86,153 5,673 80,480

W ashington.............................. 132 48,581 2,509 46,072

West Virginia........................... 174 49,215 3,527 45,688

Wisconsin.................................. 561 109,754 22,102 87,652

W yom ing................................... 58 8,272 780 7,492

2,343 61,006 5,114 55,892 440,547 438,349 2,198

434 49,519 6,600 42,919 518,817 515,195 3,622

4,079 27,268 3,843 23,425 190,183 189,310 873

2,431 64,618 7,142 57,476 622,797 620,362 2,435

13,046 260,088 8,716 251,372 1,922,429 1,870,484 51,945

1,183 137,261 27,416 109,845 1,454,068 1,443,238 10,830

1,684 94,503 6,499 88,004 873,151 865,350 7,801

648 25,139 6,829 18,310 190,144 189,285 859

2,943 140,166 6,510 133,656 1,494,718 1,486,781 7,937

432 15,259 1,015 14,244 141,303 140,886 417

814 37,039 2,786 34,253 309,437 308,251 1,186

87 3,036 90 2,946 39,026 38,757 269

1,127 15,039 491 14,548 81,142 80,463 679

30,126 180,695 66,425 114,270 1,680,974 1,668,858 12,116

152 5,335 547 4,788 58,991 58,900 91

120,199 1,885,192 62,454 1,822,738 16,028,626 15,499,348 529,278

559 38,272 3,034 35,238 276,150 272,603 3,547

1,038 9,200 1,788 7,412 67,906 67,610 296

9,576 284,913 51,417 233,496 2,304,993 2,285,628 19,365

1,024 55,587 2,222 53,365 464,037 462,156 1,881

551 25,772 949 24,823 297,886 294,995 2,891

58,416 787,551 35,059 752,492 4,549,036 4,512,900 36,136

750 20,130 678 19,452 126,784 125,699 1,085

261 15,383 1,824 13,559 137,224 136,793 431

605 11,819 2,156 9,663 88,668 88,239 429

2,612 62,991 10,193 52,798 518,481 515,011 3,470

3,229 173,726 16,277 157,449 1,462,257 1,456,518 5,739

19 18,400 1,817 16,583 147,101 146,471 630

3,481 21,409 6,979 14,430 108,401 108,028 373

2,932 83,221 5,673 77,548 597,513 592,032 5,481

819 47,762 2,510 45,252 464,617 461,529 3,088

3,119 46,096 3,526 42,570 288,116 287,001 1,115

4,732 105,022 22,102 82,920 903,621 899,551 4,070

116 8,156 780 7,376 64,152 64,007 lf 145 t

1 Book value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.

2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the 

amount of liabilities not shown on the books.

N OTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures For 1938 figures of banks grouped by State, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 184.

Cn

Cn EXAMINERS* ANALYSIS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 129. N e t S o u n d C a p it a l R a t io s of I n s u r e d C o m m e r c ia l B a n k s E x a m in e d in 1939

BANKS GROUPED BY FDIC DISTRICT AND STATE

Per $100 of capital accounts (book value) Net sound capital 

per $100 of—

Number

of

banks

Book value

Examiners’

Net sound capital Appraised 

value of 

assets

Deposits

Total R. F. C .1 Private

deductions

(net)2 Total R. F. C.i Private

U nited S tates— to ta l..................... 13,505

498

$100.00 $6.76 $93.24 $4.82 $95.18 $7.74 $87.44 $10.63 $12.08

FDIC D istrict

District 1 ......................................... 100.00 5.78 94.22 6.16 93.84 5.96 87.88 12.38 14.42

District 2 ......................................... 1,130

1,736

1,007

969

100.00 3.98 96.02 6.78 93.22 5.77 87.45 10.50 12.09

District 3 ......................................... 100.00 7.00 93.00 5.96 94.04 7.58 86.46 13.53 15.77

District 4 ......................................... 100.00 7.51 82.49 3.40 96.60 7.58 89.02 11.47 13.05

District 5 ......................................... 100.00 10.30 89.70 2.62 102.62 10.99 91.63 11.27 12.77

District 6 ......................................... 1,460

1,464

1,420

1,087

1,402

828

100.00 8.03 91.97 2.95 97.05 8.29 88.76 9.87 11.02

District 7 ......................................... 100.00 16.94 83.06 2.32 97.68 16.98 80.70 9.57 10.64

District 8 ......................................... 100.00 8.32 91.68 .79 99.21 8.32 90.89 8.55 9.39

District 9 ......................................... 100.00 8.21 91.79 2.79 97.21 8.52 88.69 10.05 11.25

District 1 0 ....................................... 100.00 6.14 93.86 1.94 98.06 6.19 91.87 10.53 11.82

District 11....................................... 100.00 9.15 90.85 1.83 98.17 9.50 88.67 10.37 11.62

District 12...................................... 504 100.00 7.14 92.86 6.01 93.99 9.61 84.38 8.62 9.55

S tate

Alabama.......................................... 208 100.00 13.07 86.93 2.40 97.60 16.31 81.29 13.64 15.89

Arizona............................................. 11 100.00 16.17 83.83 1.31 98.69 16.17 82.52 7.52 8.22

Arkansas.......................................... 206 100.00 11.25 88.75 3.46 96.54 11.38 85.16 12.12 13.84

California........................................ 194 100.00 7.30 92.70 7.31 92.69 10.45 82.24 8.48 9.38

Colorado.......................................... 138 100.00 6.18 93.82 1.40 98.60 6.18 92.42 9.34 10.36

Connecticut.................................... 101 100.00 7.39 92.61 6.27 93.73 7.44 86.29 12.27 14.08

Delaware......................................... 41 100.00 1.31 98.69 6.85 93.15 1.31 91.84 18.62 23.00

District of Columbia.................... 22 100.00 3.89 96.11 2.17 97.83 3.89 93.94 11.79 13.46

Florida............................................. 160 100.00 2.77 97.23 2.43 97.57 2.77 94.80 9.25 10.23

Georgia............................................ 266 100.00 4.21 95.79 1U.66

.21

114.66 4.21 110.45 14.03 16.45

Idah o................................................ 46 100.00 16.61 83.39 100.21 16.61 83.60 9.75 10.83

Illinois.............................................. 837 100.00 8.36 91.64 .83 99.17 8.36 90.81 8.43 9.25

Indiana............................................ 473 100.00 9.33 90.67 4.45 95.55 9.33 86.22 10.25 11.46

Iow a ................................................. 583 100.00 8.08 91.92 .59 99.41 8.08 91.33 9.39 10.39

Kansas............................................. 456 100.00 7.28 92.72 2.44 97.56 7.49 90.07 11.15 12.58

156 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
371 100.00 7.80 92.20 3.70 96.30 8.07 88.23 12.16 13.92

Louisiana......................................... 142 100.00 13.21 86.79 .87 99.13 13.21 85.92 8.71 9.61

M aine............................................... 60 100.00 12.26 87.74 13.01 86.99 12.26 74.73 12.54 14.40

Maryland......................................... 175 100.00 10.36 89.64 3.63 96.37 10.65 85.72 9.40 10.42

Massachusetts................................ 192 100.00 2.96 97.04 4.78 95.22 3.19 92.03 11.92 13.90

M ichigan......................................... 430 100.00 20.05 79.95 .87 100.87 20.15 80.72 8.63 9.51

M innesota....................................... 651 100.00 6.35 93.65 1.75 98.25 6.76 91.49 9.77 10.92

Mississippi....................................... 193 100.00 26.48 73.52 2.51 97.49 26.48 71.01 11.68 13.28

Missouri........................................... 591 100.00 4.55 95.45 2.06 97.94 4.55 93.39 8.57 9.43

M ontana.......................................... 112 100.00 6.37 93.63 2.75 97.25 6.47 90.78 9.75 10.83

Nebraska......................................... 367 100.00 7.36 92.64 2.15 97.85 7.36 90.49 10.69 12.02

N evada............................................. 10 100.00 2.88 97.12 2.79 97.21 2.88 94.33 7.22 7.83

New Hampshire............................ 56 100.00 2.98 97.02 6.97 93.03 3.04 89.99 15.64 18.69

New Jersey..................................... 354 100.00 18.87 81.13 14.29 85.71 31.51 54.20 9.71 10.83

New M exico.................................... 40 100.00 9.97 90.03 2.77 97.23 9.97 87.26 8.29 9.06

New Y o rk ....................................... 735 100.00 2.44 97.56 5.99 94.01 3.11 90.90 10.52 12.16

North Carolina.............................. 211 100.00 7.82 92.18 1.44 98.56 7.81 90.75 12.17 14.04

North D akota................................ 158 100.00 17.47 82.53 10.14 89.86 17.46 72.40 11.93 13.61

O hio.................................................. 687 100.00 16.09 83.91 3.25 96.75 17.46 79.29 11.00 12.47

Oklahoma........................................ 383 100.00 3.93 96.07 1.81 98.19 3.93 94.26 10.70 12.03

Oregon............................................. 71 100.00 3.61 96.39 2.09 97.91 3.61 94.30 7.96 8.74

Pennsylvania.................................. 1,049 100.00 3.83 96.17 6.91 93.09 4.14 88.95 14.76 17.45

Rhode Island.................................. 15 100.00 3.25 96.75 3.59 96.41 3.25 93.16 13.70 16.01

South Carolina.............................. 111 100.00 11.58 88.42 1.67 98.33 11.66 86.67 10.08 11.25

South D akota................................ 166 100.00 17.36 82.64 4.87 95.13 17.35 77.78 11.76 13.39

Tennessee........................................ 292 100.00 14.67 85.33 3.98 96.02 15.54 80.48 10.83 12.23

T exas................................................ 777 100.00 8.83 91.17 1.82 98.18 9.20 88.98 10.62 11.93

U tah................................................. 51 100.00 9.89 90.11 .10 100.10 9.89 90.21 11.12 12.56

Verm ont........................................... 74 100.00 27.69 72.31 13.99 86.01 28.04 57.97 16.49 19.82

Virginia............................................ 314 100.00 6.58 93.42 3.40 96.60 6.58 90.02 12.23 14.06

Washington.................................... 132 100.00 5.16 94.84 1.69 98.31 5.17 93.14 9.32 10.35

West Virginia................................. 174 100.00 7.17 92.83 6.34 93.66 7.16 86.50 13.79 16.06

Wisconsin........................................ 561 100.00 20.14 79.86 4.31 95.69 20.14 75.55 10.41 11.67

W yom ing......................................... 58 100.00 9.43 90.57 1.40 98.60 9.43 89.17 11.28 12.74

1 Book value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.

2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the 

amount of liabilities not shown on the books.

NOTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures— For 1938 figures of banks grouped by State, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 186.

Cn

<3e x a m i n e r s ’ a n a l y sis of insured b a n k s

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

T a b le 130. EXAMINERS* CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1939

Total assets Securities

Number

of

banks

Appraised value Cash and 

due from 

banks Book

value

Examiners’

Appraised value

Book

value

deductions

(net)1 Total Substandard

Not

criticized

deductions

(net)1 Total Substandard

Not

criticized

All b a n k s ..................................... 13,505

10

75

2,799

58,254,425

12,160

385,357

32,665,921

301,701 57,952,724 2,970,071

(In th 

54,982,653

ousands of d 

18,643,164

ollars)

21,315,369 81,196 21,234,173 1,206,905 20,027,268

Banks w ith n et sou n d 

capital per $100 o f 

appraised value of 

assets o f—

$0.00 or less..............................

$0.01 to $4.99..........................

$5.00 to $9.99..........................

2,339

21,227

134,149

9,821

364,130

32,531,772

3,499

65,749

1,253,335

6,322

298,381

31,278,437

1,628

92,708

10,968,988

3,777

125,483

12,240,129

577

3,603

30,713

3,200

121,880

12,209,416

1,398

13,251

490,037

1,802

108,629

11,719,379

$10.00 to $14.99......................

$15.00 to $19.99.....................

$20.00 to $24.99......................

5,958

2,900

1,119

18,935,590

4,115,956

1,152,850

102,674

39,893

12,283

18,832,916

4,076,063

1,140,567

1,048,487

349,380

124,147

17,784,429

3,726,683

1,016,420

5,968,720

1,084,988

295,424

6,562,696

1,589,572

402,226

35,818

19,758

3,754

6,526,878

1,569,814

398,472

435,072

155,772

47,375

6,091,806

1,414,042

353,097

$25.00 to $29.99......................

$30.00 to $34.99.....................

$35.00 or m ore........................

378

145

121

696,173

171,262

119,156

3,417

2,376

9,823

699,590

168,886

128,979

68,843

31,462

25,169

630,747

137,424

103,810

166,519

35,435

28,754

300,585

55,374

35,527

3,137

440

10,330

303,722

54,934

45,857

40,513

5,558

17,929

263,209

49,376

27,928

Banks w ith fixed and 

substandard assets per 

$100 o f appraised value

o f assets o f—

$0 00 40 118,923

24,839,783

21,720,827

5,876,792

3,349,202

1,062,483

518,885

721f.

22,172

119,647 119,647

24,440,273

44,192 44,794 585 45,379 45,379

$0.01 to $4.99.......................... 3,878

4,288

2,603

1,355

701

24,817,611 377,338 9,283,503 9,139,253 5,568

30,427

9,133,685 162,428 8,971,257

$5.00 to $9.99.......................... 113,021 21,607,806 1,056,519 20,551,287 6,722,198 7,891,640 7,861,213 493,944 7,367,269

$10.00 to $14.99...................... 51,556 5,825,236 525,899 5,299,337 1,433,272 2,127,008 17,677 2,109,331 184,140 1,925,191

$15.00 to $19.99...................... 46,350 3,302,852 465,419 2,837,433 719,036 1,313,041 15,927 1,297,114 177,016 1,120,098

$20.00 to $24.99...................... 23,374 1,039,109 189,822 849,287 216,544 395,452 9,267 386,185 81,079 305,106

$25.00 to $29.99...................... 308 12,971 505,914 114,290 391,624 97,912 172,007 3,307 168,700 36,456 132,244

$30.00 to $34.99...................... 172 381,816

385,714

7,075 374,741 109,338 265,403 72,922 117,269 6,719 123,988 38,964 85,024

$35.00 or m ore........................ 160 25,906 359,808 131,446 228,362 53,585 114,905 6,327 108,578 32,878 75,700

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks with 3-year average net current operating earnings per $100

of total assets of—

$-0.50 or m ore........................

$-0.01 to $-0.4 9 .....................

17

90

10,555

104,541

266

2,874

10,289

101,667

2,293

8,035

7,996

93,632

2,239

31,726

2,762

36,078

69

712

2,693

35,366

522

2,574

2,171

32,792

$0.00 to $0.49..........................

$0.50 to $0.99..........................

$1.00 to $1.49..........................

$1.50 to $1.99..........................

1,100

4,113

4,614

2,253

6,274,821

35,302,479

12,019,331

3,632,194

31,707

164,459

86,037

23,209

6,243,114

35,138,020

11,933,294

3,608,985

241,056

1,451,373

893,572

299,516

6,002,058 

33,686,647 

11,039,722 

3,309,469

2,431,415

11,833,790

3,159,086

963,617

2,111,183

13,183,557

4,386,731

1,387,144

6,832

44,317

27,361

11,526

2,104,351

13,139,240

4,359,370

1,375,618

92,850

565,249

349,720

162,652

2,011,501

12,573,991

4,009,650

1,212,966

$2.00 to $2.49..........................

$2.50 to $2.99..........................

$3.00 or m ore..........................

Not available...........................

814

297

186

21

543,654

265,525

85,181

16,144

2,890

10,072

298

33

540,764

275,597

84,883

16,111

41,841

26,135

5,560

690

498,923

249,462

79,323

15,421

134,038

61,667

18,994

6,592

141,760

49,694

11,837

4,623

856

10,1*77

2

2

140,904

60,171

11,839

4,621

14,998

16,880

1,409

51

125,906

43,291

10,430

4,570

Banks with deposits o f—

$100,000 or less...................

$100,000 to $250,000.............

$250,000 to $500,000.............

488

2,486

3,118

49,619

539,213

1,336,270

984

5,094

9,332

48,635

534,119

1,326,938

5,736

47,525

99,661

42,899

486,594

1,227,277

13,949

147,459

360,025

7,678

125,889

367,531

51

789

3,267

7,627

125,100

364,264

847

13,576

34,901

6,780

111,524

329,363

$500,000 to $1,000,000.........

$1,000,000 to $2,000,000.. . . 

$2,000,000 to $5,000,000.. . .

2,937

2,064

1,425

2,450,549

3,378,142

4,998,794

17,807

29,908

41,785

2,432,742

3,348,234

4,957,009

176,619

255,082

367,313

2,256,123

3,093,152

4,589,696

646,662

884,036

1,323,901

771,666

1,168,735

1,858,054

8,286

12,749

18,447

763,380

1,155,986

1,839,607

72,649

100,978

148,937

690,731

1,055,008

1,690,670

$5,000,000 to $10,000,000. . . 

$10,000,000 to $50,000,000. . 

More than $50,000,000.........

487

383

117

3,867,923

8,901,551

32,732,364

23,726

49,032

124,033

3,844,197

8,852,519

32,608,331

256,399

506,152

1,255,584

3,587,798

8,346,367

31,352,747

1,068,534

2,774,556

11,424,042

1,443,714

3,208,599

12,363,503

8,902

2,009

26,696

1,434,812

3,206,590

12,336,807

98,144

171,770

565,103

1,336,668

3,034,820

11,771,704

CDEXAMINERS' an a l y sis of insured b a n k s

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

Table 130. E x a m in e r s ’ CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1939— Continued

Number

of

banks

Loans, discounts, and overdrafts Fixed and miscellaneous assets

Book

value

Examiners’

deductions

(net)1

Appraised value

Book

Value

Examiners’

deductions

(net)1

Appraised value

Total Substandard

Not

criticized Total Substandard

Not

criticized

(In thousands of dollars)

A ll b a n k s ..................................... 13,505 16,055,860 157,669 15,898,191 1,228,664 14,669,527 2,240,032 62,836 2,177,196 534,502 1,642,694

Banks w ith n et sou n d

capital per $100 o f

appraised value o f

assets o f—

$0.00 or less.............................. 10 4,507 990 3,517 1,012 2,505 2,248 772 1,476 1,089 387

$0.01 to $4.99.......................... 75 119,105 8,164 110,941 28,222 82,719 48,061 9,460 38,601 24,276 14,325

$5.00 to $9.99.......................... 2,799 8,366,927 73,215 8,293,712 557,594 7,736,118 1,089,877 30,221 1,059,656 205,704 853,952

$10.00 to $14.99...................... 5,958 5,647,887 53,311 5,594,576 441,564 5,153,012 756,287 13,545 742,742 171,851 570,891

$15.00 to $19.99...................... 2,900 1,247,094 14,093 1,233,001 127,607 1,105,394 194,302 6,042 188,260 66,001 122,259

$20.00 to $24.99 . .................... 1,119 373,927 5,415 368,512 44,789 323,723 81,273 3,114 78,159 31,983 46,176

$25.00 to $29.99..................... 378 191,093 1,120 189,973 13,143 176,830 37,976 1,U00 39,376 15,187 24,189

$30.00 to $34.99...................... 145 58,768 991 57,777 10,420 47,357 21,685 945 20,740 15,484 5,256

$35.00 or m ore........................ 121 46,552 370 46,182 4,313 41,869 8,323 137 8,186 2,927 5,259

Banks w ith fixed and

substandard assets per

$100 o f appraised value

o f assets o f—

$0.00 ................... 40 29,453 11 29,442 29,442 484 150 634 634

$0.01 to $4.99.......................... 3,878 5,876,511 15,922 5,860,589 163,639 5,696,950 540,516 682 539,834 51,271 488,563

$5.00 to $9.99.......................... 4,288 6,242,523 65,295 6,177,228 431,344 5,745,884 864,466 17,299 847,167 131,231 715,936

$10.00 to $14.99..................... 2,603 1,997,400 25,142 1,972,258 239,932 1,732,326 319,112 8,737 310,375 101,827 208,548

$15.00 to $19.99..................... 1,355 1,080,207 21,298 1,058,909 185,018 873,891 236,918 9,125 227,793 103,385 124,408

$20.00 to $24.99..................... 701 363,555 8,439 355,116 71,093 284,023 86,932 5,668 81,264 37,650 43,614

$25.00 to $29.99..................... 308 189,140 5,489 183,651 47,749 135,902 59,826 4,175 55,651 30,085 25,566

$30.00 to $34.99..................... 172 139,815 6,649 133,166 40,469 92,697 51,810 7,145 44,665 29,905 14,760

$35.00 or m ore........................ 160 137,256 9,424 127,832 49,420 78,412 79,968 10,155 69,813 49,148 20,665

160 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks w ith 3-year average net cu rren t op era tin g earnings per $100

o f tota l assets o f—

$-0.50 or m ore........................

$-0.01 to $ -0.49.....................

17

90

3,536

29,261

92

1,009

3,444

28,252

414

2,615

3,030

25,637

2,018

7,476

105

1,153

1,913

6,323

1,357

2,846

556

3,477

$0.00 to $0.49..........................

$0.50 to $0.99..........................

$1.00 to $1.49..........................

$1.50 to $1.99..........................

1,100

4,113

4,614

2,253

1,474,848

8,994,352

3,947,072

1,155,764

10,654

87,214

44,386

11,080

1,464,194

8,907,138

3,902,686

1,144,684

82,929

625,416

388,514

98,512

1,381,265

8,281,722

3.514.172

1.046.172

257,375

1,290,780

526,442

125,669

14,221

32,928

14,290

603

243,154

1,257,852

512,152

125,066

65,277

260,708

155,338

38,352

177,877

997,144

356,814

86,714

$2.00 to $2.49..........................

$2.50 to $2.99..........................

$3.00 or m ore..........................

Not available...........................

814

297

186

21

248,697

146,607

51,679

4,044

2,246

734

244

10

246,451

145,873

51,435

4,034

19,888

6,603

3,142

631

226,563

139,270

48,293

3,403

19,159

7,557

2,671

885

212

329

56

21

19,371

7,886

2,615

864

6,955

2,652

1,009

8

12,416

5,234

1,606

856

B anks w ith d eposits o f—

$100,000 or less.......................

$100,000 to $250,000.............

$250,000 to $500,000.............

488

2,486

3,118

25,275

246,602

564,863

649

2,993

4,613

24,626

243,609

560,250

3,860

28,073

51,954

20,766

215,536

508,296

2,717

19,263

43,851

284

1,312

1,452

2,433

17,951

42,399

1,029

5,876

12,806

1,404

12,075

29,593

$500,000 to $1,000,000.........

$1,000,000 to $2,000,000. . . . 

$2,000,000 to $5,000,000.. . .

2,937

2,064

1,425

944,394

1,187,654

1,594,407

7,186

11,530

16,377

937,208

1,176,124

1,578,030

78,460

109,702

144,887

858,748

1,066,422

1,433,143

87,827

137,717

222,432

2,335

5,629

6,961

85,492

132,088

215,471

25,510

44,402

73,489

59,982

87,686

141,982

$5,000,000 to $10,000,000.. . 

$10,000,000 to $50,000,000.. 

More than $50,000,000.........

487

383

117

1,176,469

2,459,016

7,857,180

11,344

25,679

77,298

1,165,125

2,433,337

7,779,882

102,894

190,146

518,688

1,062,231

2,243,191

7,261,194

179,206

459,380

1,087,639

3,480

21,344

20,039

175,726

438,036

1,067,600

55,361

144,236

171,793

120,365

293,800

895,807

1 Figures in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total 

capital accounts by the inclusion in the latter of liabilities not shown on the books.

NOTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

differ from examiners’ net deductions from total

EXAMINERS’ ANALYSIS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 131. A s s e t R a t io s OF INSURED COMMERCIAL BANKS EXAMINED IN 1939 ^

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

Per $100 of total assets (book value) Per $100 of securities (book value)

Number

of

banks Book

value

Examiners’

Appraised value Cash and 

due from 

banks Book

value

Examiners’

Appraised value

deductions

(net)1 Total Substandard

Not

criticized

deductions

(net)1 Total Substandard

Not

criticized

All banks ................................ 13,505

10

$100.00 $ 0.52 $ 99.48 $ 5.10 $ 94.38 $100.00 $100.00 $ 0.38 $ 99.62 $ 5.66 $ 93.96

Banks with net sound

capital per $100 of

appraised value of

assets of—

$0.00 or less.............................. 100.00 19.24 80.76 28.77 51.99 100.00 100.00 15.28 84.72 37.01 47.71

$0.01 to $4.99.......................... 75 100.00 5.51 94.49 17.06 77.43 100.00 100.00 2.87 97.13 10.56 86.57

$5.00 to $9.99.......................... 2,799

5,958

2,900

1,119

378

100.00 .41 99.59 3.84 95.75 100.00 100.00 .25 99.75 4.00 95.75

$10 00 to $14.99 ................. 100.00 .54 99.46 5.54 93.92 100.00 100.00 .55 99.45 6.63 92.82

$15.00 to $19.99..................... 100.00 .97 99.03 8.49 90.54 100.00 100.00 1.24 98.76 9.80 88.96

$20.00 to $24.99..................... 100.00 1.07 98.93 10.77 88.16 100.00 100.00 .93 99.07 11.78 87.29

$25 00 to $29.99 ................. 100.00 49 100.49 9.89 90.60 100.00 100.00 1 M 101.04 13.48 87.56

$30 00 to $34.99 ................... 145 100.00 1.39 98.61 18.37 80.24 100.00 100.00 .79 99.21 10.04 89.17

$35.00 or m ore........................ 121 100.00 *8.24 108.24 21.12 87.12 100.00 100.00 229.08 129.08 250.47 78.61

Banks with fixed and

substandard assets per

$100 of appraised value

of assets of—

$0 00 .......... 40 100.00 .61 100.61 100.61 100.00 100.00 1.81 101.31 101.31

$0.01 to $4.99 ..................... 3,878

4,288

100.00 .09 99.91 1.52 98.39 100.00 100.00 .06 99.94 1.78 98.16

$5.00 to $9.99......................... 100.00 .52 99.48 4.86 94.62 100.00 100.00 .39 99.61 6.26 93.35

$10.00 to $14.99 ................... 2,603 100.00 .88 99.12 8.95 90.17 100.00 100.00 .83 99.17 8.66 90.51

$15.00 to $19.99..................... 1,355

701

100.00 1.38 98.62 13.90 84.72 100.00 100.00 1.21 98.79 13.48 85.31

$20.00 to $24.99..................... 100.00 2.20 97.80 17.87 79.93 100.00 100.00 2.34 97.66 20.50 77.16

$25.00 to $29.99 ................... 308 100.00 2.50 97.50 22.03 75.47 100.00 100.00 1.92 98.08 21.19 76.89

$30.00 to $34.99..................... 172 100.00 1.85 98.15 28.64 69.51 100.00 100.00 25.73 105.73 33.23 72.50

$35.00 or m ore........................ 160 100.00 6.72 93.28 34.08 59.20 100.00 100.00 5.51 94.49 28.61 65.88

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks with 3-year average net current operating earnings per $100

of total assets of—

$-0.50 or m ore........................ 17

$-0.01 to $ -0.4 9 ...................... 90

$0.00 to $0.49.......................... 1,100

$0.50 to $0.99.......................... 4,113

$1.00 to $1.49.......................... 4,614

$1.50 to $1.99.......................... 2,253

$2.00 to $2.49.......................... 814

$2.50 to $2.99.......................... 297

$3.00 or m ore........................... 186

Not available........................... 21

Banks with deposits of—

$100,000 or less....................... 488

$100,000 to $250,000............. 2,486

$250,000 to $500,000............. 3,118

$500,000 to $1,000,000......... 2,937 $1,000,000 to $2,000,000___ 2,064

$2,000,000 to $5,000,000.. . . 1,425

$5,000,000 to $10,000,000. . . 487

$10,000,000 to $50,000,000.. 383

More than $50,000,000......... 117

100.00 2.52 97.48 21.72

100.00 2.75 97.25 7.69

100.00 .51 99.49 3.84

100.00 .47 99.53 4.11

100.00 .72 99.28 7.43

100.00 .64 99.36 8.25

100.00 .53 99.47 7.70

100.00 *8.79 103.79 9.84

100.00 .35 99.65 6.53

100.00 .20 99.80 4.27

100.00 1.98 98.02 11.56

100.00 .94 99.06 8.81

100.00 .70 99.30 7.46

100.00 .73 99.27 7.21

100.00 .89 99.11 7.55

100.00 .84 99.16 7.35

100.00 .61 99.39 6.63

100.00 .55 99.45 5.69

100.00 .38 99.62 3.84

75.76 100.00 100.00 2.50 97.50 18.90 78.60

89.56 100.00 100.00 1.97 98.03 7.13 90.90

95.65 100.00 100.00 .32 99.68 4.40 95.28

95.42 100.00 100.00 .34 99.66 4.29 95.37

91.85 100.00 100.00 .62 99.38 7.97 91.41

91.11 100.00 100.00 .83 99.17 11.73 87.44

91.77 100.00 100.00 .60 99.40 10.58 88.82

93.95 100.00 100.00 m .0 8 121.08 233.97 87.11

93.12 100.00 100.00 .02 100.02 11.90 88.12

95.53 100.00 100.00 .04 99.96 1.10 98.86

86.46 100.00 100.00 .66 99.34 11.03 88.31

90.25 100.00 100.00 .63 99.37 10.78 88.59

91.84 100.00 100.00 .89 99.11 9.50 89.61

92.06 100.00 100.00 1.07 98.93 9.41 89.52

91.56 100.00 100.00 1.09 98.91 8.64 90.27

91.81 100.00 100.00 .99 99.01 8.02 90.99

92.76 100.00 100.00 .62 99.38 6.80 92.58

93.76 100.00 100.00 .06 99.94 5.35 94.59

95.78 100.00 100.00 .22 99.78 4.57 95.21

05

COEXAMINERS' ANALYSIS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 131. A s s e t R a t i o s o f I n s u r e d C o m m e rc ia l B a n k s E x a m in e d in 1939— Continued

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

Number

of

banks

Per $100 of loans (book value) Per $100 of fixed and miscellaneous assets (book value)

Book

value

Examiners’

deductions

(net)1

Appraised value

Book

value

Examiners’ 

deductions 

(net)1

Appraised value

Total SubstandardNot

criticized

Total Substandard

Not

criticized

All banks..................................... 13,505 $100.00 $ 0.98 $ 99.02 $ 7.65 $ 91.37 $100.00 $ 2.81 $ 97.19 $ 23.86 $ 73.33

Banks with net sound

capital per $100 of

appraised value of

assets of—

$0.00 or less.............................. 10 100.00 21.97 78.03 22.45 55.58 100.00 34.34 65.66 48.44 17.22

$0.01 to $4.99.......................... 75 100.00 6.85 93.15 23.70 69.45 100.00 19.68 80.32 50.51 29.81

$5.00 to $9.99.......................... 2,799 100.00 .89 99.11 6.66 92.45 100.00 2.77 97.23 18.87 78.36

$10.00 to $14.99..................... 5,958 100.00 .94 99.06 7.82 91.24 100.00 1.79 98.21 22.72 75.49

$15.00 to $19.99...................... 2,900 100.00 1.13 98.87 10.23 88.64 100.00 3.11 96.89 33.97 62.92

$20.00 to $24.99..................... 1,119 100.00 1.45 98.55 11.98 86.57 100.00 3.83 96.17 39.35 56.82

$25.00 to $29.99..................... 378 100.00 .59 99.41 6.88 92.53 100.00 3.69 103.69 40.00 63.69

$30.00 to $34.99..................... 145 100.00 1.69 98.31 17.73 80.58 100.00 4.36 95.64 271.40 24.24

$35.00 or m ore........................ 121 100.00 .79 99.21 9.26 89.95 100.00 1.65 98.35 35.17 63.18

Banks with fixed and

substandard assets per

$100 of appraised value

of assets of—

$0 00 .......................... 40 100.00 .04 99.96 99.96 100.00 30.99 130.99 130.99

$0.01 to $4.99.......................... 3,878 100.00 .27 99.73 2.78 96.95 100.00 .13 99.87 9.49 90.38

$5.00 to $9.99.......................... 4,288 100.00 1.05 98.95 6.91 92.04 100.00 2.00 98.00 15.18 82.82

$10.00 to $14.99..................... 2,603 100.00 1.26 98.74 12.01 86.73 100.00 2.74 97.26 31.91 65.35

$15.00 to $19.99..................... 1,355 100.00 1.97 98.03 17.13 80.90 100.00 3.85 96.15 43.64 52.51

$20.00 to $24.99..................... 701 100.00 2.32 97.68 19.55 78.13 100.00 6.52 93.48 43.31 50.17

$25.00 to $29.99..................... 308 100.00 2.90 97.10 25.25 71.85 100.00 6.98 93.02 50.29 42.73

$30.00 to $34.99...................... 172 100.00 4.76 95.24 28.94 66.30 100.00 13.79 86.21 57.72 28.49

$35.00 or m ore........................ 160 100.00 6.86 93.14 36.01 57.13 100.00 1 12.70 87.30 61.46 25.84

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Banks with 3-year average net current operating earnings per $100

of total assets of—

$-0.50 or m ore........................ 17 100.00 2.60 97.40 11.71 85.69 100.00 5.20 94.80 67.25 27.55

$-0.01 to $-0.4 9 ...................... 90 100.00 3.45 96.55 8.94 87.61 100.00 15.42 84.58 38.07 46.51

$0.00 to $0.49.......................... 1,100 100.00 .72 99.28 5.62 93.66 100.00 5.53 94.47 25.36 69.11

$0.50 to $0.99.......................... 4,113 100.00 .97 99.03 6.95 92.08 100.00 2.55 97.45 20.20 77.25

$1.00 to $1.49.......................... 4,614 100.00 1.12 98.88 9.84 89.04 100.00 2.71 97.29 29.51 67.78

$1.50 to $1.99.......................... 2,253 100.00 .96 99.04 8.52 90.52 100.00 .48 99.52 30.52 69.00

$2.00 to $2.49.......................... 814 100.00 .90 99.10 8.00 91.10 100.00 1.11 101.11 36.30 64.81

$2.50 to $2.99.......................... 297 100.00 .50 99.50 4.50 95.00 100.00 H .35 104.35 35.09 69.26

$3.00 or m ore........................... 186 100.00 .47 99.53 6.08 93.45 100.00 2.10 97.90 37.78 60.12

Not available........................... 21 100.00 .25 99.75 15.60 84.15 100.00 2.37 97.63 0.90 96.73

Banks with deposits of—

$100,000 or less....................... 488 100.00 2.57 97.43 15.27 82.16 100.00 10.45 89.55 37.87 51.68

$100,000 to $250,000............. 2,486 100.00 1.21 98.79 11.38 87.41 100.00 6.81 93.19 30.50 62.69

$250,000 to $500,000............. 3,118 100.00 .82 99.18 9.20 89.98 100.00 3.31 96.69 29.20 67.49

$500,000 to $1,000,000 2,937 100.00 .76 99.24 8.31 90.93 100.00 2.66 97.34 29.05 68.29

$1,000,000 to $2,000,000___ 2,064 100.00 .97 99.03 9.24 89.79 100.00 4.09 95.91 32.24 63.67

$2,000,000 to $5,000,000.. .. 1,425 100.00 1.03 98.97 9.09 89.88 100.00 3.13 96.87 33.04 63.83

$5,000,000 to $10,000,000.. . 487 100.00 .96 99.04 8.75 90.29 100.00 1.94 98.06 30.89 67.17

$10,000,000 to $50,000,000.. 383 100.00 1.04 98.96 7.73 91.23 100.00 4.65 95.35 31.40 63.95

More than $50,000,000......... 117 100.00 .98 99.02 6.60 92.42 100.00 1.84 98.16 15.80 82.36

1 Figures in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total assets differ from examiners’ net deductions from total 

capital accounts by the inclusion in the latter of liabilities not shown on the books.

2 For explanation of the apparent irregularity in this item, see page 76.

NOTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

EXAMINERS’ ANALYSIS OF INSURED BANKS 165

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY FDIC DISTRICT AND STATE 

(Amounts in thousands of dollars)

Table 132. EXAMINERS* CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1939

Number

of

banks

Total assets

Cash and 

due from 

banks

Securities

Book

value

Examiners’

deductions

(net)1

Appraised value

Book

value

Examiners’

deductions

(net)1

Appraised value

Total Substandard

Not

criticized Total Substandard

Not

criticized

United States— total.............. 13,505 58,254,425 301,701 57,952,724 2,970,071 54,982,653 18,643,164 21,315,369 81,196 21,234,173 1,206,905 20,027,268

FDIC District

District 1 .................................. 498 3,374,471 27,128 3,347,343 181,363 3,165,980 1,091,681 1,025,584 9,169 1,016,415 73,896 942,519

District 2 .............................. 1,130 20,040,173 145,007 19,895,166 976,250 18,918,916 6,912,489 7,548,562 41,933 7,506,629 455,134 7,051,495

District 3 .................................. 1,736 7,993,514 67,021 7,926,493 712,830 7,213,663 2,039,628 3,328,805 25,817 3,302,988 332,168 2,970,820

District 4 .................................. 1,007 2,570,844 10,086 2,560,758 113,492 2,447,266 810,644 827,824 3,342 824,482 45,509 778,973

District 5 .................................. 969 2,076,065 6,125 2,082,190 95,212 1,986,978 751,420 605,262 9,087 614,349 40,354 573,995

District 6 .................................. 1,460 2,914,251 8,476 2,905,775 132,314 2,773,461 999,730 902,860 1,228 901,632 50,040 851,592

District 7 .................................. 1,464 3,556,190 6,774 3,549,416 154,748 3,394,668 1,017,774 1,547,496 3,686 1,543,810 56,970 1,486,840

District 8 .................................. 1,420 5,589,927 3,710 5,586,217 163,141 5,423,076 2,059,694 2,196,125 367 2,195,758 66,928 2,128,830

District 9 .................................. 1,087 1,305,496 3,689 1,301,807 37,417 1,264,390 397,406 475,719 806 474,913 15,684 459,229

District 1 0 ................................ 1,402 1,697,104 3,383 1,693,721 42,173 1,651,548 667,600 497,076 37 497,039 10,138 486,901

District 11................................ 828 1,801,783 3,395 1,798,388 40,964 1,757,424 727,876 484,571 447 484,124 10,464 473,660

District 12................................ 504 5,334,607 29,157 5,305,450 320,167 4,985,283 1,167,222 1,875,485 3,451 1,872,034 49,620 1,822,414

State

A la b a m a .................................. 208 347,377 1,154 346,223 22,575 323,648 112,250 91,647 293 91,354 4,531 86,823

Arizona .................................. 11 98,156 78 98,078 1,785 96,293 33,736 30,359 21 30,338 275 30,063

Arkansas ................................. 206 188,662 796 187,866 8,281 179,585 66,395 49,212 160 49,052 3,099 45,953

California .............................. 194 4,192,072 27,743 4,164,329 295,606 3,868,723 800,498 1,487,403 2,700 1,484,703 41,472 1,443,231

Colorado.................................... 138 363,724 468 363,256 7,939 355,317 162,678 109,920 71 109,991 3,053 106,938

Connecticut.............................. 101 579,152 4,681 574,471 40,899 533,572 172,593 187,951 872 187,079 9,201 177,878

Delaware ............................ 41 121,299 1,622 119,677 14,979 104,698 27,494 44,693 956 43,737 7,546 36,191

District of Columbia............. 22 392,391 1,023 391,368 10,719 380,649 130,291 132,423 546 131,877 4,194 127,683

Florida .............................. 160 438,686 975 437,711 13,439 424,272 185,809 149,367 578 148,789 6,587 142,202

Georgia...................................... 266 505,324 9,315 514,639 31,168 483,471 169,005 106,491 10,005 116,496 18,044 98,452

Idaho ..................................... 46 97,501 20 97,521 1,289 96,232 32,474 35,457 35 35,422 490 34,932

Illinois .................................. 837 4,896,109 3,339 4,892,770 132,188 4,760,582 1,855,000 2,002,263 506 2,001,757 60,036 1,941,721

Indiana .................................. 473 953,866 4,421 949,445 52,791 896,654 288,651 373,973 1,700 372,273 17,124 355,149

583 693,818 371 693,447 30,954 662,493 204,694 193,863 1U0 194,003 6,894 187,109

Kansas....................................... 456 393,111 1,057 392,054 11,980 380,074 140,759 119,435 33 119,468 1,738 117,730

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Kentucky.................................. 371 503,761 2,208 501,553 27,382 474,171 158,801 142,785 609 142,176 8,667 133,509

Louisiana.................................. 142 568,760 424 568,336 12,862 555,474 214,718 189,484 76 189,408 4,812 184,596

M aine........................................ 60 221,518 4,067 217,451 17,931 199,520 56,026 85,114 1,475 83,639 9,325 74,314

M aryland.................................. 175 689,740 2,325 687,415 27,633 659,782 203,892 308,209 1,163 307,046 13,902 293,144

Massachusetts.......................... 192 2,195,553 13,036 2,182,517 90,115 2,092,402 772,331 626,376 4,596 621,780 42,651 579,129

M ichigan................................... 430 1,589,008 2,321 1,591,329 40,294 1,551,035 451,226 721,279 515 721,794 15,479 706,315

M innesota................................. 651 969,304 1,650 967,654 24,508 943,146 289,579 358,342 527 357,815 11,411 346,404

Mississippi................................ 193 215,919 636 215,283 15,169 200,114 69,639 68,272 29 68,301 6,379 61,922

Missouri.................................... 591 1,637,777 2,893 1,634,884 63,891 1,570,993 590,526 575,893 214 575,679 29,339 546,340

M ontana.................................... 112 156,986 424 156,562 3,531 153,031 60,842 56,825 33 56,792 1,205 55,587

Nebraska................................... 367 347,259 783 346,476 8,923 337,553 115,087 109,277 39 109,238 1,298 107,940

N evada...................................... 10 42,150 88 42,062 439 41,623 14,111 15,107 45 15,062 241 14,821

New Hampshire...................... 56 97,308 1,127 96,181 5,275 90,906 22,587 36,013 606 35,407 3,411 31,996

New Jersey............................... 354 1,890,462 28,793 1,861,669 192,566 1,669,103 442,024 785,720 5,493 780,227 63,818 716,409

New M exico............................. 40 64,477 151 64,326 902 63,424 23,573 18,747 4 18,743 172 18,571

New Y o rk ................................. 735 18,028,411 114,593 17,913,818 768,703 17,145,115 6,442,970 6,718,148 35,484 6,682,664 383,769 6,298,895

North Carolina........................ 211 314,948 526 314,422 16,452 297,970 115,494 85,227 90 85,137 9,677 75,460

North D akota.......................... 158 78,136 1,030 77,106 5,315 71,791 19,468 28,844 107 28,737 1,688 27,049

O hio............................................ 687 2,599,238 9,332 2,589,906 131,177 2,458,729 786,587 906,491 3,816 902,675 47,220 855,455

Oklahoma.................................. 383 520,593 969 519,624 10,965 508,659 219,965 141,034 79 140,955 3,738 137,217

Oregon....................................... 71 324,208 550 323,658 6,211 317,447 94,005 125,154 226 124,928 1,482 123,446

Pennsylvania............................ 1,049 5,394,274 57,687 5,336,587 581,654 4,754,933 1,253,039 2,422,313 22,000 2,400,313 284,949 2,115,364

Rhode Island............................ 15 147,663 749 146,914 6,323 140,591 45,269 43,981 240 43,741 3,050 40,691

South Carolina........................ 111 152,838 231 152,607 3,546 149,061 60,219 38,684 7 38,677 1,927 36,750

South D akota.......................... 166 101,070 583 100,487 4,064 96,423 27,518 31,708 140 31,568 1,379 30,189

Tennessee.................................. 292 584,052 2,580 581,472 32,760 548,712 184,008 134,970 243 134,727 8,936 125,791

Texas......................................... 777 1,639,150 3,167 1,635,983 38,277 1,597,706 670,566 435,465 423 435,042 10,017 425,025

U tah........................................... 51 165,481 20 165,501 3,427 162,074 55,655 49,676 34 49,642 830 48,812

Vermont.................................... 74 133,276 3,466 129,810 20,820 108,990 22,877 46,149 1,380 44,769 6,258 38,511

Virginia...................................... 314 683,646 2,912 680,734 30,711 650,023 196,985 175,420 688 174,732 8,500 166,232

W ashington.............................. 132 513,195 816 512,379 13,194 499,185 170,480 162,689 411 162,278 5,106 157,172

West Virginia........................... 174 337,281 3,069 334,212 24,432 309,780 103,762 87,861 848 87,013 7,308 79,705

Wisconsin.................................. 561 1,013,317 4,674 1,008,643 61,664 946,979 277,897 452,244 2,502 449,742 24,366 425,376

W yom ing.................................. 58 72,418 110 72,308 2,363 69,945 29,111 17,411 24 17,387 311 17,076

EXAMINERS' ANALYSIS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 132. EXAMINERS CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1939— Continued ^

00

BANKS GROUPED BY FDIC DISTRICT AND STATE

(Amounts in thousands of dollars)

Loans, discounts, and overdrafts Fixed and miscellaneous assets

Number

of Book

value

Examiners’

Appraised value

Book

value

Examiners’

Appraised value

banks deductions

(net)1 Total Substandard

Not

criticized

deductions

(net)1 Total Substandard

Not

criticized

U nited States— to ta l.............. 13,505 16,055,860 157,669 15,898,191 1,228,664 14,669,527 2,240,032 62,836 2,177,196 534,502 1,642,694

FDIC D istrict

District 1 35,402 106,378 .................................. 498 1,111,034 13,567 1,097,467 72,065 1,025,402 146,172 4,392 141,780

District 2 . .. ............................ 1,130 4,770,177 74,178 4,695,999 356,365 4,339,634 808,945 28,896 780,049 164,751 615,298

District 3 .................................. 1,736 2,186,203 27,748 2,158,455 218,587 1,939,868 438,878 13,456 425,422 162,075 263,347

District 4 ................................... 1,007 828,305 4,922 823,383 47,205 776,178 104,071 1,822 102,249 20,778 81,471

District 5 .................................. 969 637,343 2,456 634,887 33,250 601,637 82,040 506 81,534 21,608 59,926

District 6 .................................. 1,460 933,374 5,563 927,811 63,805 864,006 78,287 1,685 76,602 18,469 58,133

District 7 .................................. 1,464 891,843 3,416 888,427 69,085 819,342 99,077 328 99,405 28,693 70,712

District 8 .................................. 1,420 1,225,754 2,948 1,222,806 71,972 1,150,834 108,354 395 107,959 24,241 83,718

District 9 .................................. 1,087 394,580 2,053 392,527 17,691 374,836 37,791 830 36,961 4,042 32,919

District 1 0 ................................ 1,402 489,679 2,963 486,716 28,473 458,243 42,749 383 42,366 3,562 38,804

District 1 1................................ 828 531,397 2,588 528,809 22,513 506,296 57,939 360 57,579 7,987 49,592

District 1 2 ................................ 504 2,056,171 15,267 2,040,904 227,653 1,813,251 235,729 10,439 225,290 42,894 182,396

State

Alabama.................................... 208 124,578 662 123,916 10,285 113,631 18,902 199 18,703 7,759 10,944

Arizona...................................... 11 29,996 56 29,940 848 29,092 4,065 1 4,064 662 3,402

Arkansas.................................... 206 67,808 493 67,315 3,969 63,346 5,247

201,949

143 5,104 1,213 3,891

California.................................. 194 1,702,222 14,536 1,687,686 213,789 1,473,897 10,507 191,442 40,345 151,097

Colorado.................................... 138 83,538 516 83,022 4,209 78,813 7,588 23 7,565 677 6,888

Connecticut.............................. 101 189,133 2,574 186,559 19,647 166,912 29,475 1,235 28,240 12,051 16.189

Delaware................................... 41 43,775 466 43,309 5,819 37,490 5,337 200 5,137 1,614 3,523

District of Columbia............. 22 106,538 365 106,173 3,169 103,004 23,139 112 23,027 3,356 19,671

Florida....................................... 160 88,190 333 87,857 4,404 83,453 15,320 64 15,256 2,448 12,808

Georgia...................................... 266 206,890 480 206,410 7,335 199,075 22,938 210 22,728 5,789 16,939

Idaho.......................................... 46 27,392 52 27,444 734 26,710 2,178 3 2,181 65 2,116

Illinois........................................ 837 945,077 2,091 942,986 50,124 892,862 93,769 742 93,027 22,028 70,999

Indiana...................................... 473 258,157 1,868 256,289 24,181 232,108 33,085 853 32,232 11,486 20,746

Iow a........................................... 583 280,676 859 279,817 21,845 257,972 14,585 3U8 14,933 2,215 12,718

Kansas....................................... 456 121,687 985 120,702 8,477 112,225 11,230 105 11,125 1,765 9,360

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
K entucky.................................. 371 188,438 1,558 186,880 15,612 171,268 13,737 41 13,696 3,103 10,593

Louisiana................................... 142 147,620 452 147,168 4,683 142,485 16,938 10k 17,042 3,367 13,675

M aine......................................... 60 73,741 1,937 71,804 6,948 64,856 6,637 655 5,982 1,658 4,324

Maryland.................................. 175 157,779 918 156,861 10,376 146,485 19,860 244 19,616 3,355 16,261

Massachusetts.......................... 192 703,412 6,781 696,631 31,328 665,303 93,434 1,659 91,775 16,136 75,639

M ichigan................................... 430 381,174 185 380,989 16,382 364,607 35,329 1,991 37,320 8,433 28,887

M innesota................................. 651 295,864 794 295,070 10,723 284,347 25,519 329 25,190 2,374 22,816

Mississippi................................ 193 70,066 528 69,538 6,546 62,992 7,942 137 7,805 2,244 5,561

Missouri.................................... 591 437,687 1,746 435,941 25,973 409,968 33,671 933 32,738 8,579 24,159

Montana.................................... 112 34,992 319 34,673 2,028 32,645 4,327 72 4,255 298 3,957

Nebraska................................... 367 113,585 561 113,024 7,005 106,019 9,310 183 9,127 620 8,507

Nevada...................................... 10 11,799 31 11,768 161 11,607 1,133 12 1,121 37 1,084

New Hampshire...................... 56 35,330 451 34,879 1,614 33,265 3,378 70 3,308 250 3,058

New Jersey............................... 354 522,507 11,726 510,781 73,924 436,857 140,211 11,574 128,637 54,824 73,813

New M exico............................. 40 20,842 140 20,702 660 20,042 1,315 7 1,308 70 1,238

New Y o rk ................................. 735 4,203,896 61,985 4,141,911 276,623 3,865,288 663,397 17,124 646,273 108,311 537,962

North Carolina........................ 211 105,214 358 104,856 5,016 99,840 9,013 78 8,935 1,759 7,176

North D akota.......................... 158 25,712 641 25,071 2,805 22,266 4,112 282 3,830 822 3,008

O hio............................................ 687 794,196 4,234 789,962 52,847 737,115 111,964 1,282 110,682 31,110 79,572

Oklahoma.................................. 383 146,568 709 145,859 6,952 138,907 13,026 181 12,845 275 12,570

Oregon....................................... 71 93,419 300 93,119 3,886 89,233 11,630 24 11,606 843 10,763

Pennsylvania............................ 1,049 1,392,006 23,512 1,368,494 165,741 1,202,753 326,916 12,175 314,741 130,964 183,777

Rhode Island............................ 15 52,949 364 52,585 2,453 50,132 5,464 145 5,319 820 4,499

South Carolina........................ 111 49,925 89 49,836 1,012 48,824 4,010 135 3,875 607 3,268

South D akota.......................... 166 38,012 298 37,714 2,136 35,578 3,832 145 3,687 549 3,138

Tennessee.................................. 292 239,441 1,766 237,675 18,251 219,424 25,633 571 25,062 5,573 19,489

Texas......................................... 777 480,558 2,391 478,167 21,005 457,162 52,561 353 52,208 7,255 44,953

U tah........................................... 51 54,949 47 54,902 2,014 52,888 5,201 101 5,302 583 4,719

Vermont..................................... 74 56,470 1,459 55,011 10,078 44,933 7,780 627 7,153 4,484 2,669

Virginia...................................... 314 281,112 1,739 279,373 16,962 262,411 30,129 485 29,644 5,249 24,395

Washington.............................. 132 166,389 408 165,981 7,064 158,917 13,637 3 13,640 1,024 12,616

West Virginia........................... 174 127,737 1,454 126,283 10,669 115,614 17,921 767 17,154 6,455 10,699

Wisconsin.................................. 561 252,512 1,363 251,149 28,522 222,627 30,664 809 29,855 8,776 21,079

W yom ing.................................. 58 24,302 193 24,109 1,830 22,279 1,594 107 1,701 222 1,479

1 Figures in italics represent excess of appraisal value of assets over book value. Examiners' net deductions from total assets differ from examiners’ net deductions from total 

capital accounts by the inclusion in the latter of liabilities not shown on the books.

N OTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

EXAMINERS’ ANALYSIS OF INSURED BANKS 169

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T ab le 133. ASSET RATIOS OF INSURED COMMERCIAL BANKS EXAMINED IN 1939

BANKS GROUPED BY FDIC DISTRICT AND STATE

U nited States— total.

FDIC D istrict

District 1 ....................

District 2 ....................

District 3 ....................

District 4 ....................

District 5 ...................

District 6 ....................

District 7 ....................

District 8 ....................

District 9 ....................

District 1 0 .................

District 1 1 .................

District 1 2 .................

State

Alabama.....................

Arizona.......................

Arkansas.....................

California...................

Colorado.....................

Connecticut...............

Delaware....................

District of Columbia

Florida........................

Georgia.......................

Idah o...........................

Illinois........................

Indiana.......................

Iow a............................

Kansas........................

Number

of

banks

13,505

498

1,130

1,736

1,007

969

1,460

1,464

1,420

1,087

1,402

828

504

208

11

206

194

138

101

41

22

160

266

46

837

473

583

456

Book

value

$100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

Examiners’ 

deductions 

(net)

$0.52

.80

.72

.84

.39

.30

.29

.19

.07

.28

.20

.19

.55

.33

.08

.42

.66

.13

.81

1.34

.26

.22

1.84

.07

.46

.05

.27

total assets (book value)

Cash and 

due from 

banks

Per $100 of securities (book value)

Appraised value

Book

value

Examiners’

deductions

(net)1

Appraised value

Total Substandard

Not

criticized Total Substandard

Not

criticized

$99.48 $5.10 $94.38 $100.00 $100.00 $0.38 $99.62 $5.66 $93.96

99.20 5.37 93.83 100.00 100.00 .89 99.11 7.21 91.90

99.28 4.87 94.41 100.00 100.00 .56 99.44 6.03 93.41

99.16 8.92 90.24 100.00 100.00 .78 99.22 9.98 89.24

99.61 4.41 95.20 100.00 100.00 .40 99.60 5.50 94.10

100.30 4.59 95.71 100.00 100.00 1.50 101.50 6.67 94.83

99.71 4.54 95.17 100.00 100.00 .14 99.86 5.54 94.32

99.81 4.35 95.46 100.00 100.00 .24 99.76 3.68 96.08

99.93 2.92 97.01 100.00 100.00 .02 99.98 3.05 96.93

99.72 2.87 96.85 100.00 100.00 .17 99.83 3.30 96.53

99.80 2.48 97.32 100.00 100.00 .01 99.99 2.04 97.95

99.81 2.27 97.54 100.00 100.00 .09 99.91 2.16 97.75

99.45 6.00 93.45 100.00 100.00 .18 99.82 2.65 97.17

99.67 6.50 93.17 100.00 100.00 .32 99.68 4.94 94.74

99.92 1.82 98.10 100.00 100.00 .07 99.93 .91 99.02

99.58 4.39 95.19 100.00 100.00 .33 99.67 6.30 93.37

99.34 7.05 92.29 100.00 100.00 .18 99.82 2.79 97.03

99.87 2.18 97.69 100.00 100.00 .06 100.06 2.78 97.28

99.19 7.06 92.13 100.00 100.00 .46 99.54 4.90 94.64

98.66 12.35 86.31 100.00 100.00 2.14 97.86 16.88 80.98

99.74 2.73 97.01 100.00 100.00 .41 99.59 3.17 96.42

99.78 3.06 96.72 100.00 100.00 .39 99.61 4.41 95.20

101.84 6.17 95.67 100.00 100.00 9.40 109.40 16.94 92.46

100.02 1.32 98.70 100.00 100.00 .10 99.90 1.38 98.52

99.93 2.70 97.23 100.00 100.00 .03 99.97 3.00 96.97

99.54 5.53 94.01 100.00 100.00 .45 99.55 4.58 94.97

99.95 4.46 95.49 100.00 100.00 .07 100.07 3.56 96.51

99.73 3.05 96.68 100.00 100.00 .03 100.03 1.46 98.57

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
371 100.00 .44 99.56 5.44

142 100.00 .07 99.93 2.26

M aine......................................... 60 100.00 1.84 98.16 8.09

175 100.00 .34 99.66 4.01

192 100.00 .59 99.41 4.10

430 100.00 .15 100.15 2.54

651 100.00 .17 99.83 2.53

193 100.00 .29 99.71 7.03

591 100.00 .18 99.82 3.90

112 100.00 .27 99.73 2.25

Nebraska................................... 367 100.00 .23 99.77 2.57

10 100.00 .21 99.79 1.04

56 100.00 1.16 98.84 5.42

354 100.00 1.52 98.48 10.19

New M exico............................. 40 100.00 .23 99.77 1.40

New Y o r k ................................. 735 100.00 .64 99.36 4.26

North Carolina........................ 211 100.00 .17 99.83 5.22

North D akota.......................... 158 100.00 1.32 98.68 6.80

O hio............................................ 687 100.00 .36 99.64 5.05

Oklahoma.................................. 383 100.00 .19 99.81 2.11

Oregon....................................... 71 100.00 .17 99.83 1.92

Pennsylvania............................ 1,049

15

100.00 1.07 98.93 10.78

Rhode Island............................ 100.00 .51 99.49 4.28

South Carolina........................ 111 100.00 .15 99.85 2.32

South D akota.......................... 166 100.00 .58 99.42 4.02

Tennessee.................................. 292 100.00 .44 99.56 5.61

Texas.......................................... 777 100.00 .19 99.81 2.34

U tah........................................... 51 100.00 .01 100.01 2.07

Vermont.................................... 74 100.00 2.60 97.40 15.62

Virginia...................................... 314 100.00 .43 99.57 4.49

Washington.............................. 132 100.00 .16 99.84 2.57

West Virginia........................... 174 100.00 .91 99.09 7.24

Wisconsin.................................. 561 100.00 .46 99.54 6.09

W yom ing.................................. 58 100.00 .15 99.85 3.26

94.12 100.00 100.00 .43 99.57 6.07 93.50

97.67 100.00 100.00 .04 99.96 2.54 97.42

90.07 100.00 100.00 1.73 98.27 10.96 87.31

95.65 100.00 100.00 .38 99.62 4.51 95.11

95.31 100.00 100.00 .73 99.27 6.81 92.46

97.61 100.00 100.00 .07 100.07 2.15 97.92

97.30 100.00 100.00 .15 99.85 3.18 96.67

92.68 100.00 100.00 .ou 100.04 9.34 90.70

95.92 100.00 100.00 .04 99.96 5.09 94.87

97.48 100.00 100.00 .06 99.94 2.12 97.82

97.20 100.00 100.00 .04 99.96 1.19 98.77

98.75 100.00 100.00 .30 99.70 1.60 98.10

93.42 100.00 100.00 1.68 98.32 9.47 88.85

88.29 100.00 100.00 .70 99.30 8.12 91.18

98.37 100.00 100.00 .02 99.98 .92 99.06

95.10 100.00 100.00 .53 99.47 5.71 93.76

94.61 100.00 100.00 .11 99.89 11.35 88.54

91.88 100.00 100.00 .37 99.63 5.85 93.78

94.59 100.00 100.00 .42 99.58 5.21 94.37

97.70 100.00 100.00 .06 99.94 2.65 97.29

97.91 100.00 100.00 .18 99.82 1.18 98.64

88.15 100.00 100.00 .91 99.09 11.76 87.33

95.21 100.00 100.00 .55 99.45 6.93 92.52

97.53 100.00 100.00 .02 99.98 4.98 95.00

95.40 100.00 100.00 .44 99.56 4.35 95.21

93.95 100.00 100.00 .18 99.82 6.62 93.20

97.47 100.00 100.00 .10 99.90 2.30 97.60

97.94 100.00 100.00 .07 99.93 1.67 98.26

81.78 100.00 100.00 2.99 97.01 13.56 83.45

95.08 100.00 100.00 .39 99.61 4.85 94.76

97.27 100.00 100.00 .25 99.75 3.14 96.61

91.85 100.00 100.00 .97 99.03 8.32 90.71

93.45 100.00 100.00 .55 99.45 5.39 94.06

96.59 100.00 100.00 .14 99.86 1.79 98.07

H-1 EXAMINERS’ ANALYSIS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 133. A s s e t R a t io s OF In s u r e d C o m m e rc ia l B a n k s E x a m in e d IN 1939— Continued

BANKS GROUPED BY FDIC DISTRICT AND STATE

Number

of

banks

Per $100 of loans (book value) Per $100 of fixed and miscellaneous assets (book value)

Book

value

Examiners’

deductions

(net)1

Appraised value

Book

value

Examiners’

deductions

(net)1

Appraised value

Total Substandard

Not

criticized Total Substandard

Not

criticized

United States— total.............. 13,505 $100.00 $0.98 $99.02 $7.65 $91.37 $100.00 $2.81 $97.19 $23.86 $73.33

FDIC District

District 1 .................................. 498 100.00 1.22 98.78 6.49 92.29 100.00 3.00 97.00 24.22 72.78

District 2 .................................. 1,130 100.00 1.56 98.44 7.47 90.97 100.00 3.57 96.43 20.37 76.06

District 3 .................................. 1,736 100.00 1.27 98.73 10.00 88.73 100.00 3.07 96.93 36.93 60.00

District 4 .................................. 1,007 100.00 .59 99.41 5.70 93.71 100.00 1.75 98.25 19.97 78.28

District 5 .................................. 969 100.00 .39 99.61 5.22 94.39 100.00 .62 99.38 26.34 73.04

District 6 .................................. 1,460 100.00 .60 99.40 6.84 92.56 100.00 2.15 97.85 23.59 74.26

District 7 .................................. 1,464 100.00 .38 99.62 7.75 91.87 100.00 .83 100.33 28.96 71.37

District 8 .................................. 1,420 100.00 .24 99.76 5.87 93.89 100.00 .36 99.64 22.37 77.27

District 9 .................................. 1,087 100.00 .52 99.48 4.48 95.00 100.00 2.20 97.80 10.70 87.10

District 10............. .................. 1,402 100.00 .61 99.39 5.81 93.58 100.00 i .90 99.10 8.33 90.77

District 1 1 ................................ 828 100.00 .49 99.51 4.24 95.27 100.00 .62 99.38 13.79 85.59

District 1 2................................ 504 100.00 .74 99.26 11.07 88.19 100.00 4.43 95.57 18.20 77.37

State

Alabama.................................... 208 100.00 .53 99.47 8.26 91.21 100.00 1.05 98.95 41.05 57.90

Arizona...................................... 11 100.00 .19 99.81 2.83 96.98 100.00 .02 99.98 16.29 83.69

Arkansas.................................... 206 100.00 .73 99.27 5.85 93.42 100.00 2.73 97.27 23.12 74.15

California.................................. 194 100.00 .85 99.15 12.56 86.59 100.00 5.20 94.80 19.98 74.82

Colorado.................................... 138 100.00 .62 99.38 5.04 94.34 100.00 .30 99.70 8.92 90.78

Connecticut.............................. 101 100.00 1.36 98.64 10.39 88.25 100.00 4.19 95.81 40.89 54.92

Delaware................................... 41 100.00 1.06 98.94 13.29 85.65 100.00 S.75 96.25 30.24 66.01

District of Columbia............. 22 100.00 ,34 99.66 2.97 96.69 100.00 .48 99.52 14.50 85.02

Florida....................................... 160 100.00 .38 99.62 4.99 94.63 100.00 .42 99.58 15.98 83.60

Georgia...................................... 266 100.00 .23 99.77 3.55 96.22 100.00 .92 99.08 25.24 73.84

Idah o.......................................... 46 100.00 .19 100.19 2.68 97.51 100.00 •U 100.14 2.98 97.16

Illinois........................................ 837 100.00 .22 99.78 5.30 94.48 100.00 .79 99.21 23.49 75.72

Indiana...................................... 473 100.00 .72 99.28 9.37 89.91 100.00 2.58 97.42 34.72 62.70

Iow a........................................... 583 100.00 .31 99.69 7.78 91.91 100.00 2.89 102.39 15.19 87.20

Kansas....................................... 456 100.00 .81 99.19 6.97 92.22 100.00 .93 99.07 15.72 83.35

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky...........

Louisiana...........

M aine.................

Maryland...........

Massachusetts. .

M ichigan...........

M innesota.........

Mississippi.........

Missouri.............

M ontana............

N ebraska...........

N evada...............

New Hampshire 

New Jersey. . . . 

New M exico___

New Y o rk ..........

North Carolina. 

North Dakota. .

O h io....................

Oklahoma..........

Oregon................

Pennsylvania. . . 

Rhode Island.. . 

South Carolina. 

South Dakota. .

Tennessee...........

Texas..................

U tah....................

Verm ont.............

Virginia..............

Washington 

West Virginia. .

W isconsin...........

W yom ing...........

371

142

60

175

192

430

651

193 

591 

112

367

10

56

354

40

735

211

158

687

71

1,049

15

111

166

292

777

51

74

314

132

174

561

58

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

.31

2.63

.58

.96

.05

.27

.75

.40

.91

.49

.26

1.28

2.24

.67

1.47

.34

2.49

.53

.48

.32

1.69

.69

.18

.78

.74

.50

.09

2.58

.62

.25

1.14

.54

.79

99.17 8.28 90.89 100.00 .30 99.70 22.59 77.11

99.69 3.17 96.52 100.00 .61 100.61 19.88 80.73

97.37 9.42 87.95 100.00 9.87 90.13 24.98 65.15

99.42 6.58 92.84 100.00 1.23 98.77 16.89 81.88

99.04 4.45 94.59 100.00 1.78 98.22 17.27 80.95

99.95 4.30 95.65 100.00 5.64. 105.64 23.87 81.77

99.73 3.62 96.11 100.00 1.29 98.71 9.30 89.41

99.25 9.34 89.91 100.00 1.73 98.27 28.25 70.02

99.60 5.93 93.67 100.00 2.77 97.23 25.48 71.75

99.09 5.80 93.29 100.00 1.66 98.34 6.89 91.45

99.51 6.17 93.34 100.00 1.97 98.03 6.66 91.37

99.74 1.36 98.38 100.00 1.06 98.94 3.27 95.67

98.72 4.57 94.15 100.00 2.07 97.93 7.40 90.53

97.76 14.15 83.61 100.00 8.25 91.75 39.10 52.65

99.33 3.17 96.16 100.00 .53 99.47 5.32 94.15

98.53 6.58 91.95 100.00 2.58 97.42 16.33 81.09

99.66 4.77 94.89 100.00 .87 99.13 19.52 79.61

97.51 10.91 86.60 100.00 6.86 93.14 19.99 73.15

99.47 6.65 92.82 100.00 1.15 98.85 27.79 71.06

99.52 4.74 94.78 100.00 1.39 98.61 2.11 96.50

99.68 4.16 95.52 100.00 .21 99.79 7.25 92.54

98.31 11.91 86.40 100.00 3.72 96.28 40.06 56.22

99.31 4.63 94.68 100.00 2.65 97.35 15.01 82.34

99.82 2.03 97.79 100.00 3.37 96.63 15.14 81.49

99.22 5.62 93.60 100.00 3.78 96.22 14.33 81.89

99.26 7.62 91.64 100.00 2.23 97.77 21.74 76.03

99.50 4.37 95.13 100.00 .67 99.33 13.80 85.53

99.91 3.67 96.24 100.00 1.94. 101.94 11.21 90.73

97.42 17.85 79.57 100.00 8.06 91.94 57.63 34.31

99.38 6.03 93.35 100.00 1.61 98.39 17.42 80.97

99.75 4.25 95.50 100.00 .02 100.02 7.51 92.51

98.86 8.35 90.51 100.00 4.28 95.72 36.02 59.70

99.46 11.30 88.16 100.00 2.64 97.36 28.62 68.74

99.21 7.53 91.68 100.00 6.71 106.71 13.93 92.78

1 Figures in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total 

capital accounts by the inclusion in the latter of liabilities not shown on the books.

NOTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

assets differ from examiners’ net deductions from total

-3

00 e x a m i n e r s ' a n al y sis of insured b a n k s

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 134. DISTRIBUTION OF INSURED COMMERCIAL BANKS EXAMINED IN 1939 ACCORDING TO NET SOUND CAPITAL RATIO

BANKS GROUPED BY FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS, AND AMOUNT OF DEPOSITS

All

banks

Banks with net sound capital per $100 of appraised value of assets of—

$0.00

or

less

$0.01

to

$4.99

$5.00

to

$9.99

$10.00

to

$14.99

$15.00

to

$19.99

$20.00

to

$24.99

$25.00

to

$29.99

$30.00

to

$34.99

$35.00

or

more

All banks............................................................ 13,505 10 75 2,799 5,958 2,900 1,119 378 145 121

Banks with fixed and substandard

assets per $100 of appraised value

of assets of—

$0.00 .......................................................... 40 1 10 18 5 1 2 2 1

$0.01 to $4.99................................................. 3,878 13 1,180 1,741 615 216 72 21 20

$5.00 to $9.99 ............................................... 4,288 10 826 2,028 918 324 120 36 26

$10 00 to $14 99 .................................... 2,603 11 401 1,174 622 253 80 35 27

$15.00 to $19.99............................................. 1,355 1 6 180 574 373 146 44 19 12

$20.00 to $24.99............................................. 701 1 9 102 245 196 91 33 11 13

$25.00 to $29.99............................................. 308 3 8 48 99 80 46 12 7 5

$30 00 to $34.99 ........................................... 172 7 26 46 51 22 6 6 8

$35.00 or m ore................................................ 160 5 10 26 33 40 20 9 8 9

Banks with 3-year average net current operating earnings per $100

of total assets of—

$—0 50 or more .................................... 17 1 2 4 1 1 4 4

$-0.01 to $ -0 .4 9 ............................................. 90 1 1 20 43 13 5 3 3 1

$0.00 to $0.49................................................. 1,100 4 19 387 419 148 84 25 6 8

$0.50 to $0.99................................................. 4,113 3 37 1,203 1,884 680 204 59 31 12

$1.00 to $1.49................................................. 4,614 1 11 859 2,222 1,025 328 115 30 23

$1 50 to $1 99 ........................................... 2,253 5 252 955 637 283 64 30 27

$2 00 to $2.49 ......................................... 814 2 59 293 247 123 51 20 19

$2 50 to $2 99 ........................................... 297 15 94 83 58 29 11 7

$3 00 or more ......................................... 186 3 37 58 31 29 9 19

N ot available ....................................... 21 1 9 5 2 2 1 1

Banks with deposits of—

$100,000 or less............................................... 488 2 2 9 47 100 121 92 58 57

$100,000 to $250,000.................................... 2,486 1 5 115 755 906 479 151 46 28

$250,000 to $500,000.................................... 3,118 1 12 445 1,584 764 220 58 15 19

$500,000 to $1,000,000................................. 2,937 3 13 689 1,477 542 151 41 14 7

$1,000,000 to $2,000,000.............................. 2,064 2 13 573 1,053 311 83 20 7 2

$2,000,000 to $5,000,000.............................. 1,425 1 15 485 664 199 45 10 1 5

$5 000 000 to $10 000,000 .......................... 487 5 197 217 48 12 4 2 2

$10 000 000 to $50 000 000 383 10 210 127 26 7 2 1

More than $50 000 000 117 76 34 4 1 2

NOTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures— For 1938 figures, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 188 and p. 189.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 135. DISTRIBUTION OF DEPOSITS OF INSURED COMMERCIAL BANKS EXAM INED IN 1939 ACCORDING TO N E T SOUND CAPITAL RATIO 

BANKS GROUPED BY FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS, AND AMOUNT OF DEPOSITS

All

banks

Banks with net sound capital per $100 of appraised value of assets of—

$0.00 $0.01

to

$4.99

$5.00

to

$9.99

$10.00

to

$14.99

$15.00

to

$19.99

$20.00

to

$24.99

$25.00

to

$29.99

$30.00

to

$34.99

$35.00

All banks........................................................

Banks with fixed and substandard

assets per $100 of appraised value

of assets of—

$0.00..............................................................

$0.01 to $4.99.............................................

$5.00 to $9.99.............................................

$10.00 to $14.99.........................................

$15.00 to $19.99.........................................

$20.00 to $24.99.........................................

$25.00 to $29.99.........................................

$30.00 to $34.99.........................................

$35.00 or more............................................

Banks with 3-year average net current operating earnings per $100

of total assets of—

$-0.50 or more............................................

$-0.01 to $ -0.49.........................................

$0.00 to $0.49.............................................

$0.50 to $0.99.............................................

$1.00 to $1.49.............................................

$1.50 to $1.99.............................................

$2.00 to $2.49.............................................

$2.50 to $2.99.............................................

$3.00 or more..............................................

Not available...............................................

Banks with deposits of—

$100,000 or less...........................................

$100,000 to $250,000................................

$250,000 to $500,000................................

$500,000 to $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 $50,000,000.....................

More than $50,000,000............................

101,969

22,211,191

18,805,495

5,083,948

2,855,534

882,460

431,180

317,183

287,696

7,034

87,978

5,639,887

31,086,848

10,411,927

3,008,916

446,426

209,905

63,802

13,933

35,699

438,308

1,132,048

2,100,606

2,913,920

4,333,556

3,379,020

7,879,749

28,763,750

9,697

53

1,462

1,861

6,321

1,462

5,025

2,333

789

141

100

432

2,511

2,992

3,521

(In thousands of dollars) 

348,121 29,337,366 16,345,058 3,375,596

2,316

93,847

15,749

16,787

9,505

13,906

62,786

68,603

64,622

154

123,416

163,265

28,248

32,192

846

183

790

4,067

8,466

17,691

46,269

37,698

232,957

55,807

14,675,987

11,578,180

1,877,139

787,519

155,640

75,961

83,705

47,428

26,589

4,446,270

20,423,669

4,034,176

337,383

46,535

20,335

1,040

1,369

665

21,502

172,436

500,619

816,892

1,489,816

1,357,380

4,709,756

20,268,300

31,750

6,688,631

5,346,081

2,248,494

1,394,735

392,314

145,633

55,606

41,814

634

47,724

864,949

9,475,939

4,527,544

1,112,154

202,140

85,454

19,516

9,004

3,796

144,577

577,849

1,055,079

1,485,791

2,012,469

1,531,763

2,270,132

7,263,602

2,963

507,267

1,381,258

655,903

475,921

173,400

85,280

61,208

32,396

951

6,907

79,681

828,818

1,288,199

1,011,780

110,270

24,910

22,926

1,154

8,027

158,075

270,183

386,017

428,723

592,327

314,363

423,180

794,701

871,402

133

217,731

137,476

179,164

141,395

99,101

35,460

15,551

45,391

134

3,541

90,586

133,791

396,419

176,467

39,858

20,814

8,586

1,206

9,405

77,741

75,166

105,021

120,395

142,349

80,326

157,547

103,452

1,069

18,242

319,397

89,700

18,642

33,303

13,668

1,195

5,199

1,346

256

28,178

14,111

115,440

308,230

16,118

9,181

6,855

700

6,591

23,521

20,730

28,131

29,187

30,833

27,727

333,695

112,918

7,173

5,453

15,647

9,474

25,519

2,579

4,058

1,967

41,048

2,771

1,176

1,069

43,981

16.350

13.351

23,730

8,930

1,240

320

3,758

7,471

4,883

10,387

9,517

2,003

15,660

59,239

76,083

758

4,033

11,707

7,287

2,245

10,755

6,473

29,348

3,477

1,110

169

713

941

4,762

17,359

6,929

40,281

3,639

180

3,133

4,531

6,302

4,375

2,732

13,969

14,108

26,938 -3

o\

Back figures— For 1938 figures of banks grouped by fixed and substandard assets ratio, prepared on the basis of the original examination procedure, see the Annual Report 

for 1938, p. 189.

NOTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

e x a m i n e r s ' an a l y sis of insured b a n k s

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 136, N et Sound Capital R atios op Insured Commercial Banks N ot M embers of the Federal Reserve System, h;

Examinations 1933-1939 2?

EXAMINERS’ ANALYSIS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Banks with deposits of— 1

All

banks $100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

(2)

NET SOUND CAPITAL PER $100 OF: 

A ppraised value o f assets

*1933............................................................... $ 9.62 $22.77 $13.96 $10.42 $ 8.44 $ 7.90 $ 9.30 $ 9.95 $ 2.56

<1934............................................................... 13.38 25.07 18.06 14.95 12.94 13.06 12.61 12.90 6.15

1935............................................................... 13.98 24.66 17.74 15.06 13.66 13.86 13.08 13.47 10.22

1936............................................................... 14.38 23.78 17.34 14.50 14.07 14.04 14.07 $14.22 $14.12 12.56

1937............................................................... 13.12 23.50 16.72 13.51 13.06 12.61 12.83 13.62 12.57 10.72

1938 original5............................................... 12.64 23.74 16.89 13.28 12.50 12.10 11.87 12.15 12.53 10.82

1938 uniform6.............................................. 12.77 23.98 17.08 13.48 12.88 12.50 12.27 12.56 12.41 9.12

1939............................................................... 12.40 24.61 16.80 13.55 12.63 12.24 11.89 12.29 11.37 9.68

D eposits

*1933................................................................ 11.15 31.82 17.18 12.17 9.80 9.17 10.62 11.52 2.64

41934................................................................ 15.80 34.46 22.51 17.94 15.19 15.41 14.84 15.13 6.64

1935................................................................ 16.58 33.52 21.87 17.96 16.05 16.39 15.36 16.10 11.47

1936................................................................ 17.09 31.59 21.21 17.09 16.57 16.58 16.59 17.29 16.91 14.58

1937................................................................ 15.33 31.30 20.29 15.72 15.17 14.56 14.85 16.17 14.92 12.18

1938 original5............................................... 14.64 31.70 20.54 15.39 14.38 13.90 13.59 13.99 14.67 12.35

1938 uniform5.............................................. 14.81 32.13 20.82 15.66 14.89 14.43 14.11 14.53 14.51 10.22

1939................................................................ 14.30 33.10 20.28 15.75 14.54 14.06 13.58 14.17 13.14 10.82

T otal capital accou n ts

31933............................................................... 45.12 68.99 60.11 52.06 40.73 37.71 42.34 44.00 19.57

<1934................................................................ 67.17 80.63 81.11 77.29 70.13 67.33 62.69 61.53 43.90

1935................................................................ 76.51 83.80 87.54 86.40 82.76 77.16 71.80 69.38 66.17

1936................................................................ 90.92 85.77 92.65 95.17 94.54 90.62 89.28 87.49 86.20 97.12

1937............................................................... 92.25 87.52 91.83 94.73 93.17 90.51 90.59 86.81 94.09 101.50

1938 original5............................................... 87.78 88.08 91.50 91.32 87.90 85.36 83.70 83.44 86.54 106.94

1938 uniform5.............................................. 88.83 89.27 92.71 92.90 90.98 88.58 86.89 86.65 85.60 88.47

1939............................................................... 90.69 91.62 94.16 94.46 93.14 90.26 88.98 90.97 85.88 93.16

1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.

2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000. 

8 Examination for admission to insurance in late 1933 and early 1934.

4 Revised.

6 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.

NOTE: For explanation of terms and method of adjustment, see pages 74-76.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 137. T otal A sset Ratios of Insured Commercial Banks not M embers of the Federal R eserve System,

E x a m in a tio n s 1933-1939

b a n k s g r o u p e d a c c o r d in g to a m o u n t o f d e p o s it s

All

banks

Banks with deposits of— 1

$100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

(2)

PER $100 OF BOOK v a l u e :

Examiners’ deductions (net) from assets

31933....................................................................................

193 4 

193 5 

193 6 

193 7 

1938 original5....................................................................

1938 uniform5...................................................................

193 9 

Substandard assets (appraised value)

61933....................................................................................

$10.47

6.73

4.11

1.42

1.06

1.68

1.5,3

1.21

$9.28

6.20

4.55

3.80

3.17

3.02

2.71

2.08

$8.48

4.69

2.46

1.36

1.45

1.50

1.28

1.00

$8.74

5.24

2.32

.73

.80

1.21

.99

.76

$10.94

5.89

2.77

.81

.96

1.65

1.22

.89

$11.54

6.55 

3.94 

1.43

1.28

2.01

1.56 

1.28

$11.24

7.57

4.88

1.66

1.29

2.23

1.79

1.42

$11

7

5

$1.99

1.95

2.32

1.86

1.18

.24

.89

.61

$2.21

.65

1.78

1.91

1.69

$9.51

8.11

4.97

.37

*.16

*.71

1.17

.69

61934................................................................................

71935.................................................................................... 19.62 

16.21

15.62 

12.37 

12.75 

10.47

71936....................................................................................

81937........................................................................

1938 original5....................................................................

1938 uniform5...................................................................

193 9 

Assets not criticized (appraised value)

6193 3 

6193 4 

17.80

13.38

13.94

11.83

14.95

11.93

12.33

9.57

13.75

10.32

10.68

8.63

14.84

11.31

11.75

9.09

15.72

12.25

12.68

10.36

16.88

13.56

14.00

11.59

18.63

14.84

15.24

11.36

16.90

14.17

14.42

12.95

10.91

8.27

8.51

6.48

7193 5 

7193 6 

193 7 

1938 original5...........................................................

1938 uniform5...................................................................

193 9 

76.27

82.37

83.32 

85.95 

85.72

88.32

79.03

83.60

83.35

86.09

83.60

86.57

86.39

89.43

85.45

88.47

88.33

90.61

84.20

87.04

87.03

90.02

83.00

85.74

85.76

88.36

81.83

84.21

84.21 

86.99

79.42

82.84

82.90

87.46

82.45

84.05

83.67

85.36

89.25

92.44

90.32

92.83

1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 81.

2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.

a Examination for admission to insurance in late 1933 and early 1934.

4 Examiners’ net additions to total assets.

® Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure

• Figures not available.

7 Figures not available by size of bank.

8 Includes all fixed assets.

NOTE: For explanation of terms and method of adjustment, see pages 74-76.

e x a m in e r s ’ analysis op insured b a n k s

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Federal Reserve Bank of St. Louis
T ab le 138. LOAN RATIOS OP INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM,

E x a m in a t i o n s 1934-1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

All

banks

Banks with deposits of— 1

$100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000 

(2)

PER $100 OF BOOK v a l u e :

Examiners’ deductions (net)

from loans

1934................................................................ $8.02 $8.43 $6.08 $6 50 $6.41 $7.60 $8.86 $9.92 $8.71

1935................................................................ 6.53 7.08 4.64 4.29 4.48 6.11 7.79 8.51 7.84

1936................................................................ 4.41 6.40 3.55 3.08 3.35 4.32 5.19 $4.88 $6.31 3.80

1937................................................................ 2.54 4.76 2.62 1.99 2.11 2.52 2.88 3.69 3.05 .91

1938 original3............................................... 1.99 3.74 2.C8 1.51 1.70 1.93 2.47 2.08 2.50 .96

1938 uniform3.............................................. 1.71 2.96 1.59 1.20 1.40 1.66 2.20 1.85 2.26 .91

1939................................................................ 1.31 2.66 1.27 .90 .97 1.31 1.58 1.48 1.90 .41

Substandard loans (appraised value)

1934................................................................ 32.62 34.81 35.07 34.37 35.85 33.94 31.25 31.23 25.78

1935................................................................ 25.41 25.94 23.94 23.73 26.02 26.07 26.87 26.31 20.57

1936................................................................ 21.04 22.32 19.73 18.72 20.45 21.24 22.81 20.39 23.54 19.01

1937................................................................ 16.36 19.63 16.63 15.06 16.05 16.89 18.94 16.86 15.03 13.51

1938 original3............................................... 14.27 16.94 14.40 12.25 13.17 14.27 15.72 16.02 16.46 9.99

1938 uniform3.............................................. 14.55 17.72 14.89 12.56 13.47 14.54 15.99 16.25 16.70 10.04

1939................................................................ 12.15 15.70 12.24 10.49 10.43 12.01 13.23 12.48 14.59 10.31

Loans not criticized (appraised value)

1934............................................................... 59.36 56,76 58.85 59.13 57.74 58.46 59.89 58 .85 65.51

1935................................................................ 68.06 66.98 71.42 71.98 69.50 67.82 65.34 65.18 71.59

1936................................................................ 74.55 71.28 76.72 78.20 76.20 74.44 72.00 74.73 70.15 77.19

1937................................................................ 81.10 75.61 80.75 82.95 81.84 80.59 78.18 79.45 81.92 85.58

1938 original3............................................... 83.74 79.32 83.52 86.24 85.13 83.80 81.81 81.90 81.04 89.05

1938 uniform3.............................................. 83.74 79.32 83.52 86.24 85.13 83.80 81.81 81.90 81,04 89.05

1939................................................................ 86.54 81.64 86.49 88.61 88.60 86.68 85.19 86.04 83.51 89.28

1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.

2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.

3 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.

NOTE: For explanation of terms and method of adjustment, see pages 74-76.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 139. A sset R atios of Insured Commercial Banks not M embers of the Federal Reserve System Examined in 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Banks with deposits of—

All

banks $100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

j $10,000,000

to

$50,000,000

More than 

$50,000,000

0)

Number of banks................................... 7,196 451 2,030 1,995 1,409 776 390 79 61 5

PER $100 OF BOOK VALUE: 

T otal a ssets.................................................... $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Examiners' deductions (net)................... 1.21 2.08 1.00 .76 .89 1.28 1.42 1.18 1.69 .69

Appraised value......................................... 98.79 97.92 99.00 99.24 99.11 98.72 98.58 98.82 98.31 99.31

Substandard............................................. 10.47 11.83 9.57 8.63 9.09 10.36 11.59 11.36 12.95 6.48

Not criticized........................................... 88.32 86.09 89.43 90.61 90.02 88.36 86.99 87.46 85.36 92.83

Cash and du e fro m b a n k s ...................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

S ecu rities........................................................ 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Examiners’ deductions (n et)................... 1.03 .70 .58 .82 1.11 1.27 1.48 1.35 .54 .72

Appraised value......................................... 98.97 99.30 99.42 99.18 98.89 98.73 98.52 98.65 99.46 99.28

Substandard............................................. 10.13 11.36 11.89 10.70 11.14 11.13 11.47 11.62 9.23 3.14

Not criticized........................................... 88.84 87.94 87.53 88.48 87.75 87.60 87.05 87.03 90.23 96.14

L o a n s................................................................ 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Examiners’ deductions (net)................... 1.31 2.66 1.27 .90 .97 1.31 1.58 1.48 1.90 .41

Appraised value......................................... 98.69 97.34 98.73 99.10 99.03 98.69 98.42 98.52 98.10 99.59

Substandard............................................. 12.15 15.70 12.24 10.49 10.43 12.01 13.23 12.48 14-59 10.31

Not criticized........................................... 86.54 81.64 86.49 88.61 88.60 86.68 85.19 86.04 83.51 89.28

Fixed and m iscellaneous a ss e ts ......... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Examiners’ deductions (net)................... 7.18 11.45 8.14 4.70 4.60 8.02 6.17 3.47 9.60 7.42

Appraised value......................................... 92.82 88.55 91.86 95.30 95.40 91.98 93.83 96.53 90.40 92.58

Substandard............................................. 48.64 38.25 33.88 36.96 40.89 46.32 52.75 50.75 52.98 54.30

Not criticized........................................... 44-18 50.30 57.98 58.34 54.51 45.66 41.08 45.78 37.42 38.28

1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.

NOTE: For explanation of terms, method of adjustment, and banks included, see pages 74-76.

CDe x a m i n e r s ' a n a l y sis of insured b a n k s

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EARNINGS OF INSURED COMMERCIAL BANKS

Table 140. EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BANKS, 1935-1939

Amounts in thousands of dollars Amounts per $100 of total assets1

1935 1936 1937 1938 1939 1935 1936 1937 1938 1939

Number of banks2....................................................... 14,110 13,956 13,783 13,645 13,523 14,110 13,956 13,783 13,645 13,523

C urren t op eratin g earnings:

Interest and discount on loans......................................... 641,737 661,574 708,656 703,672 725,671 $1.33 $1.24 $1.29 $1.28 $1.22

Interest and dividends on securities.............................. 547,108 573,472 571,613 531,472 521,340 1.14 1.07 1.04 .96 .87

Commissions, fees, and collection, exchange, and 

service charges............................................................. 89,668 104,696 110,600 114,797 121,123 .19 .20 .20 .21 .20

Other current operating earnings.................................... 204,488 223,948 240,498 232,159 235,273 .42 .41 .44 .42 .39

G ross cu rren t operatin g ea rn in g s........................ 1,483,001 1,563,690 1,631,367 1,582,100 1,603,407 3.08 2.92 2.97 2.87 2.68

C urren t op era tin g expenses:

Interest on time and savings deposits............................ 261,667 236,830 235,031 229,313 214,952 $0.54 $0.44 $0.43 $0.42 $0.36

Interest and discount on borrowings.............................. 2,642 1,624 1,333 926 622 .01 .00 .00 .00 .00

Directors’ and professional fees.......................................

Officers’ salaries.................................................................... J 410,084

[ 10,345 

; 177,117

11,225

186,763

11,706

191,706

12,163

196,183 .85

( .02

.33

.02

.34

.02

.35

.02

.33

Employees’ salaries and wages.........................................

Taxes3...................................................................................... 79,047

i 249,162 

95,113

264,794

102,615

269,561

98,870

274,566

102,168

I

.16

1 -47 

.18

.48

.19

.49

.18

.46

.17

Other expenses of occupancy and maintenance of 

banking quarters4........................................................ 39,815 52,196 51,382 56,332 53,504 .08 .09 .09 .10 .09

Other current operating expenses.................................... 287,435 299,118 307,160 294,421 299,417 .60 .56 .56 .53 .50

T otal cu rren t operatin g expen ses........................ 1,080,690 1,121,505 1,160,303 1,152,835 1,153,575 2.24 2.09 2.11 2.09 1.93

Net cu rren t op eratin g e a rn in g s .................................... 402,311 442,185 471,064 429,265 449,832 $0.84 $0.83 $0.86 $0.78 $0.75

Profits on assets sold or exchanged, recoveries, 

and red u ction s in va lu ation allow an ces:

Profits on securities sold or exchanged.......................... (5) 267,674 117,194 172,795 214,835 (5) $0.50 $0.21 $0.31 $0.36

Recoveries and reductions in valuation allowances on 

loans............................................................................... 81,675 110,403 89,812 56,360 65,553 $0.17 .21 .16 .10 .11

Recoveries and reductions in valuation allowances on 

securities........................................................................ 315,937 174,970 57,898 61,558 66,473 .66 .33 .11 .11 .11

All other recoveries, profits on assets sold, and reductions in valuation allowances............................ 34,445 31,404 43,819 38,376 34,133 .07 .05 .08 .07 .06

T otal profits on assets sold, recoveries, e t c ... . 432,057 584,451 308,723 329,089 380,994 .90 1.09 .56 .59 .64

N et earnings, profits and recoveries on assets, e t c .. 834,368 1,026,636 779,787 758,354 830,826 $1.74 $1.92 $1.42 $1.37 $1.39

Losses, ch arge-offs, and a ddition s to valuation 

allow an ces:

On loans................................................................................. 318,271 249,756 141,448 149,994 136,096 $0.66 $0.47 $0.26 $0.27 $0.23

On securities......................................................................... 239,053 154,574 176,373 221,738 215,067 .50 .29 .32 .40 .35

All other losses, charge-offs, and additions to valuation allowances............................................................ 70,125 96,485 77,067 82,489 86,928 .15 .18 .14 .15 .15

T otal losses, ch arge-offs, e tc................................... 627,449 500,815 394,888 454,221 438,091 1.31 .94 .72 .82 .73

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
N et profits b efore in co m e taxes and dividends6. . .

Federal and State taxes on net income7...........................

N et profits after in co m e taxes .......................................

Cash dividends declared and in terest paid on 

ca p ita l:

Interest paid on capital notes and debentures and

dividends declared on preferred stock..................

Dividends declared on common capital........................

T ota l cash dividends declared and interest 

paid o n c a p ita l.........................................................

N et profits after d ivid en d s..............................

Number of active officers, December 31..............

206.919

206.919

525,821

2,442

523,379

384,899

4,848

380,051

304,133

4,344

299,789

392,735

4,641

388,094

$0.43

.43

$0.98

.00

.98

$0.70

.01

.69

$0.55 1

.01 I 

.54

$0.66

.01

.65

33,242

174,075

207,317

34,465

188,743

223,208

24,164

201,260

225,424

19,407

202,497

221,904

18,426

213,655

232,081

$0.07

.36

.43

$0.06

.36

.42

$0.04

.37

.41

$0.03

.37

.40

$0.03

.36

.39

-398 300,171 154,627 77,885 156,013 $0.00 $0.56 $0.28 $0.14 $0.26

(8)

(8)

52,221

180,499

53,164

188,106

54,007

186,882

54,649

Number of other employees, December 31......... 191,321

1 Averages of figures for beginning, middle, and end of year. See page 77.

2 Excludes the following insured banks not members of the Federal Reserve System: 16 for 1935; 17 for 1936; 14 for 1937; 16 for 1938; and 15 for 1939. For additional 

exclusions and duplications, see pages 76-77.

3 Except for 1935, excludes “ income taxes” paid by banks not members of the Federal Reserve System.

4 Includes extraordinary “ depreciation on banking house, furniture and fixtures” for banks members of the Federal Reserve System, and in 1935 for banks not members of 

the Federal Reserve System. See pages 77-78.

5 Included with recoveries.

6 After payment of “ income taxes” for banks members of the Federal Reserve System, and in 1935 for banks not members of the Federal Reserve System.

7 “ Income taxes” available for banks not members of the Federal Reserve System only. See footnote 3.

8 N ot available.

N O TE : Minus (-) indicates net loss.

Back figures— 1934: see the Annual Report for 1938; p. 212.

EARNINGS OF INSURED BANKS 181

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Federal Reserve Bank of St. Louis
T a b le 141. EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BANKS, 1939

BY CLASS OF BANK

(Amounts in thousands of dollars)

Ail

Banks members

F. R. System

Banks not members F. R . System

insured

banks

National State Total

Operating

throughout

j the year

Operating

less than

full year1

13,523 5,187 1,175 7,161 7,087 74

Current operating earnings:

Interest and discount on loans..................................................................................................................

Interest and dividends on securities.......................................................................................................

Commissions, fees, and collection, exchange, and service charges...........................................

Other current operating earnings.............................................................................................................

Gross current operating earnings......................................................................................

725,671

521,340

121,123

235,273

1,603,407

386,134

297,084

59,540

103,316

846,074

174,326

147.061

26,900

101,495

449,782

165,211 |

77,195 j

34,683 !

30,462 j

307,551 j

! 162,557

! 75,245

! 34,157

| 29,306

i 301,265

2,654

1,950

526

1,156

6,286

Current operating expenses:

Interest and discount on borrowings......................................................................................................

Officers’ salaries................................................................................................................................................

Employees’ salaries and wages..................................................................................................................

Other expenses of occupancy and maintenance of banking quarters4.....................................

Other current operating expenses............................................................................................................

Total current operating expenses.......................................................................................

214,952

622

12,163

196,183

274,566

102,168

53,504

299,417

1,153,575

113,874

100

5,316

100,447

145,721.

54,332

27,855

159,992

607,637

45,220

65

2,222

49,697

92,067

31,098

10,128

94,604

325,101

55,858

457

4,625

46,039

36,778

16,738

15,521

44,821

220,837

54,480

i 452

4,526

45,279

35,801

16,219

15,184

43,601

215,542

1,378

5

99

760

977

519

337

1,220

5,295

Net current operating earnings................................................................................................... 449,832 238,437 124,681 86,714 85,723 991

Profits on assets sold or exchanged, recoveries, and reductions in valuation

allowances:

Recoveries and reductions in valuation allowances on loans.......................................................

Recoveries and reductions in valuation allowances on securities..............................................

All other recoveries, profits on assets sold, and reductions in valuation allowances.. ..

Total profits on assets sold, recoveries, etc....................................................................

214,835

65,553

66,473

34,133

380,994

124,473

39,728

33,628

12,479

210,308

65,268

14,889

22,475

13,615

116,247

25,094

10,936

10,370

8,039

54,439

23,597

10,770

9,996

7,648

52,011

1,497

166

374

391

2,428

Net earnings, profits and recoveries on assets, etc.............................................................. 830,826 448,745 240,928 141,153 137,734 3,419

Losses, charge-offs, and additions to valuation allowances:

All other losses, charge-offs, and additions to valuation allowances.......................................

Total losses, charge-offs, etc..................................................................................................

136,096

215,067

86,928

438,091

66,983

109,002

22,058

198,043

41,154

70,564

32,435

144,153

27,959

35,501

32,435

95,895

25,336

32,903

24,610

82,849

2,623

2,598

7,825

13,046

182 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends5................................................................

Federal and State taxes on net incom e..................................................................................

Net profits after income taxes...............................................................

Cash dividends declared and interest paid on capital:

Interest paid on capital notes and debentures and dividends declared on preferred stock

Dividends declared on common capital...................................................................................

Total cash dividends declared and interest paid on capital..............

Net profits after dividends .......................................................................................................

Number of active officers, December 30, 1939 .....................................................

Number of other employees, December 30, 1939 ...........................

392,735

64,641

388,094

250.702

(6)

250.702

96.775

(6)

96.775

45,258

4,641

40,617

54,885

4,620

50,265

-9,627

21

-9,648

18,426 8,905 4,774 4,747 4,669 78

213,655 121,941 71,406 20,308 20,121 187

232,081 130,846 76,180 25,055 24,790 265

156,013 119,856 20,595 15,562 25,475 -9,913

54,649 25,617 8,555 20,477 20,202 275

191,321 99,246 58,894 33,181 32,386 795

D istri^ o f Columbia; and”^ 1 natt° n81 b“ k ln 8 State ^ ta the

3 Excludes “ income taxes’* paid by banks not members of the Federal Reserve System.’

! IAIi ? udeS extraor(Jinary “ depreciation on banking house, furniture and fixtures” for banks members of the Federal Reserve System. See page 77.

5 Alter payment of income taxes for banks members of the Federal Reserve System. See footnote 3.

Income taxes” available for banks not members of the Federal Reserve System only. See footnote 3.

NOTE: Minus (-) indicates net loss.

Back figures— See Table 137, and the following Annual Reports: 1938, p. 214; 1937, p. 141 and p. 144; 1936, p. 165; 1935, p. 198.

00

COEARNINGS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 142. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET EARNINGS, 1939

BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND

NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED TM

All

banks

Banks with net current operating earnings per $100 of total assets of— 1

$-0.50 

or more

$ -0.01

to $-0.49

$0.00

to $0.49

$0.50 

to $0.99

$1.00

to $1.49

$1.50 

to $1.99

$2.00

to $2.49

$2.50 

to $2.99

$3.00 

or more

All ban k s2................................................................................ 13,339 25 111 925 3,634 4,471 2,488 1,032 394 259

Banks w ith deposits o f— 1

$100,000 or less.................................................................... 458 5 12 42 84 104 82 60 34 35

$100,000 to $250,000.......................................................... 2,429 o 25 146 454 661 563 321 154 100

$250,000 to $500,000.......................................................... 3,064 5 27 184 666 991 695 309 120 67

$500,000 to $1,000,000...................................................... 2,874 5 15 166 733 1,051 580 225 57 42

$1,000,000 to $2,000,000................................................... 2,101 3 17 153 642 805 359 90 19 13

$2,000,000 to $5,000,000................................................... 1,421 2 9 100 555 559 166 22 8

$5 000 000 to $10,000 000 . . . . 488 4 59 218 172 30 3 2

$10 000 000 to $50 000 000 ..................... 379 2 48 208 106 11 2 2

More than $50 000 000 125 27 74 22 2

B anks in cen ters w ith p o p u la tion o f— !

Less than 250........................................................................ 650 3 S 8 46 140 190 144 82 26 11

250 to 500 .............................................................................. 1,603 1 j 10 95 347 491 347 184 79 49

500 to 1,000........................................................................... 2,323 3 ! 19 130 524 727 539 233 95 53

1,000 to 2,500....................................................................... 2.934 5 25 182 614 1,039 632 285 99 53

2,500 to 5,000....................................................................... 1,718 5 10 104 457 633 322 116 42 29

5,000 to 10,000..................................................................... 1,308 2 16 91 392 473 229 65 28 12

10,000 to 25,000.................................................................. i 1,126 3 10 88 411 426 136 28 8 16

25,000 to 50,000................................................................... 496 3 39 211 180 48 8 3 4

50,000 or m ore..................................................................... s 1,181 3 10 150 538 312 91 31 14 32

Banks in centers w ith —

1 banking office.................................................................... - 6,991 10 56 406 1,545 2,282 1,508 736 279 169

2 banking offices.................................................................. | 3,601 9 33 253 1,007 1,305 659 228 75 32

3 banking offices.................................................................. 1,087 4 7

76 374 392 167 27 21 19

4 banking offices.................................................................. 1 893 i 4 32 149 140 51 7 2 8

5 banking offices i 193 i 1 12 83 71 19 4 1 2

6 banking offices . . . . ............. ............... 1 140 2 18 62 40 8 2 2 6

7 or 8 banking offices.......................................................... 152 1 14 65 41 19 5 1 6

9 to 19 banking offices........................................................ 292 ! 3 37 114 88 28 11 4 7

20 or more banking offices................................................. 490 1

! 5

77 235 112 29 12 9 10

1 Asset and liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not 

members of the Federal Reserve System. See page 77.

2 For explanation of banks included, see pages 76-77.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 143. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET PROFITS, 1939

BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND

NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED

All

banks

Banks with net profits before dividends per $100 of total assets of— 1

$-2.00

or more

$ -1.00

to $-1.99

$-0.50 

to $-0.99

$ -0.01

to $-0.49

$0.00

to $0.49

$0.50 

to $0.99

$1.00

to $1.49

$1.50 

to $1.99

$2.00

to $2.49

$2.50 

to $2.99

$3.00 

or more

All ban ks2.................................................................. 13,339 145 198 242 647 1,962 3,857 3,424 1,660 727 275 202

B anks w ith d eposit o f— 1

$100,000 or less..................................................... 458 14 12 15 48 76 85 73 61 37 11 26

$100,000 to $250,000........................................... 2,429 34 53 53 143 308 554 548 373 197 97 69

$250,000 to $500,000........................................... 3,064 28 43 51 125 409 774 794 481 224 82 53

$500,000 to $1,000,000....................................... 2,874 24 36 63 140 374 788 811 389 160 60 29

$1,000,000 to $2,000,000.................................... 2,101 27 26 26 99 318 664 622 214 72 16 17

$2,000,000 to $5,000,000.................................... 1,421 12 21 26 59 247 555 359 105 22 8 7

$5,000,000 to $10,000,000.................................. 488 3 5 5 19 119 192 115 22 8

$10,000,000 to $50,000,000................................ 379 3 1 2 11 72 181 87 13 7 1 1

More than $50,000,000....................................... 125 1 1 3 39 64 15 2

Banks in cen ters w ith p op u la tion o f—

Less than 250........................................................ 650 16 14 18 42 96 159 150 94 41 8 12

250 to 500............................................................... 1,603 22 26 34 91 224 397 382 223 113 54 37

500 to 1,000.......................................................... 2,323 30 35 33 107 314 619 571 331 170 65 48

1,000 to 2,500........................................................ 2 934 26 48 60 132 374 709 805 462 209 71 38

2,500 to 5,000........................................................ 1,718 17 17 33 82 219 506 480 219 89 35 21

5,000 to 10,000...................................................... 1,308 11 20 20 66 178 400 380 153 51 18 11

10,000 to 25,000.................................................. 1,126 10 16 20 51 209 396 297 83 20 10 14

25,000 to 50,000................................................... 496 4 6 5 24 102 179 128 26 13 4 5

50,000 or m ore...................................................... 1,181 9 16 19 52 246 492 231 69 21 10 16

Banks in cen ters w ith—

1 banking office..................................................... 6,991 92 114 142 364 938 1,763 1,754 1,015 488 185 136

2 banking offices................................................... 3,601 27 45 54 151 517 1,080 1,025 446 168 58 30

3 banking offices................................................... 1,087 12 11 23 44 167 369 294 100 37 17 13

4 banking offices................................................... 393 3 10 4 21 66 149 99 25 8 2 6

5 banking offices................................................... 193 2 2 1 9 38 80 42 13 3 2 1

6 banking offices................................................... 140 2 4 2 5 25 56 30 9 1 2 4

7 or 8 banking offices........................................... 152 1 1 1 9 34 58 32 9 2 1 4

9 to 19 banking offices........................................ 292 3 3 4 I 11 60 112 | 67 17 9 4 2

20 or more banking offices................................. 490 3 8 11 ! 33 ! 117 190 81 26 11 4 6

1 Asset and liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks i.ot 

members of the Federal Reserve System. See page 77.

2 For explanation of banks included, see pages 76-77.

EARNINGS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 144. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF N E T EARNINGS AND BY RATE OF N E T PROFITS, 1939

All

banks

Banks with net current operating earnings per $100 of total assets of-—1

$-0.50 

or more

$ -0.01

to $ 0.49

$0.00

to $0.49

$0.50 

to $0.99

$1.00

to $1.49

$1.50 

to $1.99

$2.00

to $2.49

$2.50 

to $2.99

$3.00 

or more

All ban ks2................................................................................. 13,339 25 111 925 3,633 4,471 2,488 1,033 394 259

B anks w ith losses— to ta l.................................. 1,232 19 52 188 428 347 143 37 13 5

B anks w ith p rofits—to ta l................................ 12,107 6 59 737 3,205 4,124 2,345 996 381 254

Banks w ith n et profits b efore dividends per

$100 o f tota l assets o f— 1

$ -2.00 or m ore..................................................................... 145 5 10 11 53 41 18 4 2 1

$-1.00 to $ -1.99................................................................... 198 5 6 29 61 58 27 7 2 3

$-0.50 to $-0.9 9 .................................................................. 242 5 10 45 79 75 19 8 1

$-0.01 to $ -0.49.................................................................. 647 4 26 103 235 173 79 18 8 1

$0.00 to $0.49....................................................................... 1,962 1 35 378 793 513 176 52 6 8

$0.50 to $0.99....................................................................... 3,857 2 9 243 1,653 1,426 393 93 28 10

$1.00 to $1.49....................................................................... 3,424 1 12 88 572 1,644 843 207 44 13

$1.50 to $1.99....................................................................... 1,660 1 1 22 122 390 680 331 85 28

$2.00 to $2.49....................................................................... 727 2 3 41 100 183 226 126 46

$2.50 to $2.99 ....................... ................................ 275 1 9 32 41 53 69 70

$3.00 or m ore........................................................................ 202 1 2 15 19 29 34 23 79

1 Total assets are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not members of the 

Federal Reserve System. See page 77.

2 For explanation of banks included, see pages 76-77.

186 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 145. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO R A T E OF N E T EARNINGS AND BY R A T E OF iNCOMEl

o n L o a n s a n d R a t io o f L o a n s t o T o t a l A s s e t s , 1939

All

Banks with net current operating earnings per $100 of total assets of— i

banks $-0.50 

or more

$ -0.01

to $-0.49

$0.00

to $0.49

$0.50 

to $0.99

$1.00

to $1.49

$1.50 

to $1.99

$2.00

to $2.49

$2.50 

to $2.99

$3.00 

or more

All banks2............................................... 13,317 25 111 920 3,625 4,467 2,485 1,032 393 259

Banks with income on loans3 per $100 of total

loans of— 1

Less than $4.00...........................................

$4.00 to $4.99

367

1,369

4,283

5

Q

12

20

25

89

188

301

188

606

1,458

59

442

1,707

9 4 1

$5.00 to $5.99.....................................

O

7

89

615

16

135

3

29

2

6

$6.00 to $6.99.............................................

$7.00 to $7.99.............................................

$8.00 to $8.99.............................................

3,521

1,750

923

5

1

2

24

15

8

205

70

31

859

304

124

1,303

535

212

798

468

256

259

239

164

55

92

74

13

26

52

$9.00 to $9.99................................................

$10.00 to $10.99...........................................

472

257

1 3

1

117

40

15

104 137 90 42. 44 ( 47 56 51 41 39

$11.00 to $11.99.................................................

$12.00 or m ore..............................................

158

217

1 1

2

7

11

15

16

28 25 32 25 24

30 32 42 31 53

Banks with loans per $100 of total assets of— 1

Less than $10.00.....................................................

$10.00 to $19 99

150

1,163

2,526

2

rr

7

27

28

41

200

287

68 26 5 1

$20.00 to $29.99.................................................

(

5

518

1,002

300

849

83

258

20

67

3

21

5

9

$30.00 to $39.99.........................................

$40.00 to $49.99..................................................

$50.00 to $59.99.............................................

3,291

3,066

1,930

6

2

2

29

9

8

200

110

65

992

674

283

1,232

1,142

628

577

694

520

172

280

262

58

99

102.

25

56

60

$60.00 to $69.99..............................

$70.00 to $79.99.........................................

852

283

56

1 2 14Q

72

151

235 249

87

166 71 42.

$80.00 or m ore............................................ O 48 57 30 42

1 7 12 7 9 20

ciai lvcDci ve oyaiAsin. oee page ( i. 5r ^ e U ^ ? S v J t e m e r Se8e n L p ^ T 88 ^ ^ ^ dat9S f° r bEnkS members of the Federal Reserve System and of figures for three call dates for banks not members of the ------- ----

2 Excludes 22 cash depositories. For explanation of banks included, see pages 76-77.

3 Income on loans consists of interest and discount on loans and renewal, mortgage, and other fees charged in connection with loans owned by the bank.. 2^EARNINGS OP INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 146. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF INTEREST PAID ON TlME AND SAVINGS DEPOSITS, 1939

BANKS GROUPED BY RATE OF NET EARNINGS, RATE OF INCOME ON LOANS, AND RATIO OF LOANS TO TOTAL ASSETS

Banks with

Banks paying interest per $100 of time and savings deposits of— 1

All

banks

no time 

and savings 

deposits

Less than 

$0.50

$0.50

to

$0.99

$1.00

to

$1.49

$1.50

to

$1.99

$2.00

or

more

13,317 387 151 693 2,182 5,627 4,277

Banks with net current operating earnings per $100 of total

assets of— 1 25 3 3 6 8 5

$-0.01 to $ 0 .4 9 ........................................................................................................ 111 6 3 10 21 31 40

$0.00 to $0.49............................................................................................................

$1.00 to $1.49............................................................................................................

$1.50 to $1.99............................................................................................................

920

3,626

4,467

2,485

23

71

106

90

20

40

43

28

92 

241 

215

93

205

822

702

281

370

1,544

1,987

1,066

210

908

1,414

927

$2.00 to $2.49............................................................................................................

$2.50 to $2.99............................................................................................................

1,031

393

259

48

22

18

7

7

3

28

7

4

83

36

26

410

135

76

455

186

132

Banks with income on loans3 per $100 of total loans of— 1

$4.00 to $4.99............................................................................................................

$5.00 to $5.99............................................................................................................

367

1,369

4,283

9

18

61

26

14

20

93

153

239

148

481

839

70

514

2,099

21

189

1,025

$6.00 to $6.99............................................................................................................

$7.00 to $7.99............................................................................................................

$8.00 to $8.99............................................................................................................

3,521

1,750

923

70

60

53

29

20

15

117

52

15

425

133

72

1,653

679

305

1,227

806

463

$9.00 to $9.99............................................................................................................

$10.00 to $10.99........................................................................................................

472

257

43

26

11

10

7

10

30

21

151

62

230

128

$11.00 to $11.99........................................................................................................ 158

217

27

20

1

5

3

4

13

20

33

61

81

107

Banks with loans per $100 of total assets of— 1

$10.00 to $19.99........................................................................................................

150

1,163

2,526

6

43

90

9

34

40

23

149

198

52

360

646

41

411

1,072

19

166

480

$40.00 to $49.99........................................................................................................

$50.00 to $59.99........................................................................................................

3,291

3,066

1,930

94

93

37

26

18

18

172

100

38

569

366

135

1,504

1,360

815

926

1,129

887

$60.00 to $69.99........................................................................................................

$70 00 to $79 99 ............................................

852

283

22

2

5 9

4

42

9

319

87

455

181

$530 00 nr rtinrp .................................. 56 1 3 18 34

1 Asset and liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not 

members of the Federal Reserve System. See page 77.

2 Excludes 22 cash depositories. For explanation of banks included, see pages 76-77.

3 Income on loans consists of interest and discount on loans and renewal, mortgage, and other fees charged m connection with loans owned by the bank.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 147. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF INTEREST PAID ON TlME AND SAVINGS DEPOSITS, 1939

BANKS GROUPED BY RATIO OF TIME AND SAVINGS DEPOSITS TO TOTAL DEPOSITS, AMOUNT OF DEPOSITS,

AND POPULATION OF CENTER IN WHICH LOCATED

All

banks

Banks with 

no time 

and savings 

deposits

Banks paying interest per $100 of time and savings deposits of— 1

Less than 

$0.50

$0.50 

to $0.99

$1.00

to $1.49

$1.50 

to $1.99

$2.00

or more

A ll ban ks2...................................................................................................................... 13,339 409 151 693 2,182 5,627 4,277

Banks w ith tim e and savings deposits per $100 of total deposits

o f —1

Less than $10.00....................................................................................................... 1,147 409 125 96 132 152 233

$10 00 to $19.99 ................................................................................................... 1,201 14 132 214 453 388

$20 00 to $29.99 ................................................................................................... 1,684 4 106 269 741 564

$30 00 to $39 99 ................................................................................ 1,866 3 89 249 806 719

$40 00 to $49 99 ..................................................................... 1,961 1 99 311 855 695

$50 00 to $59.99 ................................................................................................... 2,123 1 91 393 926 712

$60 00 to $69 99 ............................................................................................. 1,898 54 370 929 545

$70 00 to $79.99........................................................................................................ 1,069 2 21 194 560 292

$80 00 or more ........................................................................................................ 390 1 5 50 205 129

B anks w ith deposits o f— 1

$100,000 or less......................................................................................................... 458 54 9 9 30 130 226

$100,000 to $250,000............................................................................................... 2,429 128 24 53 147 894 1,183

$250,000 to $500,000............................................................................................... 3,064 120 36 69 260 1,311 1,268

$500,000 to $1,000,000........................................................................................... 2,874 68 33 116 371 1,351 935

$1,000,000 to $2,000,000........................................................................................ 2,101 33 12 125 480 997 454

$2,000,000 to $5,000,000........................................................................................ 1,421 4 12 154 430 655 166

$5,000,000 to $10,000,000...................................................................................... 488 1 2 71 212 167 35

$10,000,000 to $50,000,000.................................................................................... 379 1 10 64 185 109 10

More than $50,000,000........................................................................................... 125 13 32 67 13

Banks in cen ters w ith p o p u la tion o f—

Less than 250............................................................................................................. 650 10 2 14 41 240 343

250 to 500................................................................................................................... 1,603 58 10 29 84 656 766

500 to 1,000................................................................................................................ 2,323 99 17 43 182 964 1,018

1,000 to 2,500............................................................................................................ 2,934 133 38 86 302 1,266 1,109

2,500 to 5,000............................................................................................................ 1,718 56 30 62 280 773 517

5,000 to 10,000.......................................................................................................... 1,308 39 14 90 286 634 245

10,000 to 25,000........................................................................................................ 1,126 10 12 90 309 551 154

25,000 to 50,000........................................................................................................ 496 2 1 75 172 203 43

50,000 or m ore........................................................................................................... 1,181 2 27 204 526 340 82

1 Liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not members 

of the Federal Reserve System. See page 77.

2 For explanation of banks included, see pages 76-77.

EARNINGS OF INSURED BANKS 189

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 148. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE ^

F e d e r a l R e s e r v e S y s te m , 1935-1939

o

EARNINGS OF INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

Amounts in thousands of dollars Amounts per $100 of total assets1

21935 1936 1937 1938 1939 1935 1936 1937 1938 1939

Number of banks3....................................................... 7,723 7,580 7,442 7,307 7,161 7,723 7,580 7,442 7,307 7,161

Current operating earnings:

Interest and discount on loans......................................... 143,319 148,170 156,093 159,967 165,211 $2.21 $2.13 $2.14 $2.21 $2.23 Interest and dividends on securities.............................. 79,894 86,365 90,803 83,336 77,195 1.23 1.24 1.24 1.15 1.04 Commissions, fees, and collection, exchange, and 

service charges............................................................. 25,201 33,877 33,126 33,803 34,683 .39 .49 .45 .47 .47 Other current operating earnings.................................... 27,927 24,357 30,080 30,640 30,462 .43 .35 .41 .42 .41

Gross current operating earnings........................ 276,341 292,769 310,102 307,746 307,551 4.26 4.21 4.24 4.25 4.15

Current operating expenses:

Interest on time and savings deposits........................... 68,512 61,664 60,582 58,719 55,858 $1.06 $0.89 $0.83 $0.81 $0.75

Interest and discount on borrowings.............................. 1,411 1,017 757 639 457 .02 .02 .01 .01 .01

Directors’ and professional fees....................................... 4,487 4,067 4,300 4,472 4,625 .07 .06 .05 .06 .06

Officers’ salaries.................................................................... 40,543 41,616 43,945 45,215 46,039 .62 .60 .60 .63 .62

Employees' salaries and wages......................................... 30,590 32,949 35,467 36,146 36,778 .47 .47 .49 .50 .50

Taxes (other than on incom e)......................................... 15,368 13,961 16,422 16,578 16,738 .24 .20 .22 .23 .23

Other expenses of occupancy and maintenance of 

banking quarters......................................................... 6,222 13,475 14,514 14,235 15,521 .09 .19 .20 .20 .21

Other current operating expenses.................................... 47,435 41,914 45,033 44,698 44,821 .73 .60 .62 .61 .60

Total current operating expenses........................ 214,568 210,663 221,020 220,702 220,837 3.30 3.03 3.02 3.05 2.98

Net current operating earnings..................................... 61,773 82,106 89,082 87,044 86,714 $0.96 $1.18 $1.22 $1.20 $1.17

Profits on assets sold or exchanged, recoveries,

and reductions in valuation allowances:

Profits on securities sold or exchanged..........................

Profits on other assets sold or exchanged.....................

Recoveries and reductions in valuation allowances 

on loans......................................................................... 9,765

36,975

1,524

16,148

18,244

2,076

14,309

20,218

1,309

11,432

25,094

1,236

10,936 $0.15

$0.53

.02

.23

$0.25

.03

.20

$0.28

.02

.16

$0.34

.02

.15

Recoveries and reductions in valuation allowances 

on securities.................................................................. 38,897 14,653 7,572 7,632 10,370 .60 .21 .10 .11 .14

All other recoveries and reductions in valuation 

allowances..................................................................... 7,370 7,083 10,354 9,287 6,803 .11 .11 .14 .12 .08

Total profits on assets sold, recoveries, e tc ... . 56,032 76,383 52,555 49,878 54,439 .86 1.10 .72 .69 .73

Net earnings, profits and recoveries on assets, etc. 117,805 158,489 141,637 136,922 141,153 $1.82 $2.28 $1.94 $1.89 $1.90

Losses, charge-offs, and additions to valuation

allowances:

On loans................................................................................. 65,897 43,213 36,660 28,091 27,959 $1.02 $0.62 $0.50 $0.39 $0.38

On securities......................................................................... 40,263 23,166 28,415 39,756 35,501 .62 .33 .39 .55 .48

All other losses, charge-offs, and additions to valuation allowances............................................................ 16,607 31,588 28,223 30,406 32,435 .26 .46 .39 .42 .43

Total losses, charge-offs, etc................................... 122,767 97,967 93,298 98,253 95,895 1.90 1.41 1.28 1.36 1.29

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends

Federal and State taxes on net incom e.....................

Net profits after income taxes.................................

Cash dividends declared and interest paid on

capital:

Interest paid on capital notes and debentures and

dividends declared on preferred stock..................

Dividends declared on common capital........................

Total cash dividends declared and interest

paid on capital.........................................................

Net profits after dividends...............................................

Other additions to capital accounts:

Preferred capital sold (par or face value)................

Common capital sold (par value)...............................

Premiums on new capital sold....................................

Deposits waived and subordinated............................

Assessments and other contributions........................

Total other additions to capital accounts. .

Other deductions from capital accounts:

Preferred capital retired (par or face value)...........

Common capital retired (par value).........................

Premiums on preferred capital retired......................

Payments on subordinated claims.............................

Total other deductions from capital accounts

Net change in total capital accounts for year...

Total capital accounts at beginning of year....................

Total capital accounts at end of year...............................

Average of assets and liabilities

ASSETS

Cash and due from banks............................................

Securities...........................................................................

Loans.................................................................................

Miscellaneous assets.......................................................

Total assets................................................................

LIABILITIES AND CAPITAL

Demand deposits..................................................

Time deposits........................................................

Total deposits.................................................

Miscellaneous liabilities......................................

Total capital accounts......................................

Total liabilities and capital accounts.

Number of active officers, December 3 1 ... . 

Number of other employees, December 31.

-4,962

20,473

-25,435

20,854

28,955

60,522

2,442

58,080

7,205

17,311

24,516

33,564

4,022

2,670

2,982

287

2,713

12,674

16,645

594

29

5,087

22,355

23,883

1,019,078

1,01^2,961

1,567,381

2,439,957

2,497,141

450,971

6,955,450

2,877,642

2,961,437

5,839,079

72,695

1,043,676

6,955,450

20,155

30,879

48,339

4,848

43,491

6,227

18,196

24,423

19,068

1,474

3,953

2,810

90

1,768

10,095

15,040

467

253

3,897

19,657

9,506

1 ,018,822

1,023,328

1,612,757

2,645,720

2,640,610

409,559

7,308,646

3,064,795

3,159,695

6,224,490

60,068

1,024,088

7,308,646

20,435

32,991

38,669

4,344

34,325

4,947

18,672

23,619

10,706

1,937

1,575

567

18

1,483

5,580

8,887

479

42

2,096

11,504

4,782

997,90k

1 ,002,686

1,585,227

2,554,063

2,712,983

380,858

7,233,131

2,960,739

3,224,404

6,185,143

46,418

1,001,570

7,233,131

20,531

32,843

45,258

4,641

40,617

4,747

20,308

25,055

15,562

9,045

2,211

6,365

49

1,057

18,727

11,537

190

53

2,808

14,588

19,701

97U,905

99b,606

1,799,738

2,475,971

2,785,226

347,534

7,408,469

3.113.906

3.262.906 

6,376,812

44,829

986,828

7,408,469

20,477

33,181

$-0.08

$0.31

$-0.39

$0.87

.04

.83

$0.10

.25

.35

$0.48

0.06

.04

.04

.04

.18

0.24

.01

.07

.32

$0.34

14.65

1U.99

$22.53

35.08

35.90

6.49

100.00

$41.37

42.58

83.95

1.05

15.00

100.00

$0.66

.07

.59

$0.09

.24

.33

$0.26

$0.02

.06

.04

.00

.02

.14

$0.21

.01

.00

.05

.27

$0.13

13.87

lk .00

$22.07

36.20

36.13

5.60

100.00

$41.93

43.24

85.17

.82

14.01

100.00

$0.53

.06

.47

0.07

.25

.32

$0.15

$0.03

.02

.01

.00

.0 2

.08

0.12

.01

.00

.03

.16

$0.07

13.79

13.86

$21.92

35.31

37.51

5.26

100.00

$40.93

44.58

85.51

.64

13.85

100.00

$0.61

.06

.55

$0.06

.28

.34

$0.21

0.12

.03

.09

.00

.02

.26

$0.16

.00

.00

.04

.20

$0.27

13.16

13.US

$24.29

33.42

37.60

4.69

100.00

$42.03

44.04

86.07

.61

13.32

100.00

1 Asset and liability items are averages of figures for beginning, middle, and end of year except for 1936 when they are averages of end-of-month figures.

2 For differences between figures for 1935 and subsequent years, see page 78.

3 Excludes the following insured banks not members of the Federal Reserve System: 16 for 1935; 17 for 1936; 14 for 1937; 16 for 1938; and 15 for 1939.

NOTE: Minus (-) indicates net loss.

Back figures— 1934: see the Annual Report for 1937, p. 144. For figures excluding banks operating less than the full year, etc.: see the Annual Report for 1938, p. 216.

EARNINGS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 149. E a r n i n g s , E x p e n s e s , AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT M EMBERS OF THE

F e d e r a l R e s e r v e S y s te m , 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

All

banks

Banks with deposits of— 1

$100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

7,087 432 1,993 1,977 1,383 793 379 72 53 5

C urren t op eratin g earn in gs:

Interest and discount on loans..................................

Interest and dividends on securities........................

Commissions, fees, and collection, exchange, and

service charges.......................................................

Other current operating earnings..............................

G ross cu rren t op eratin g ea rn in g s .................

162,557

75,245

34,157

29,306

301,265

1,711

230

460

171

2,572

14,056

3,330

3,299

789

21,474

24,057

7,473

5,410

1,528

38,468

(In thousai

29,276

11,298

6,044

2,391

49,009

ids of dollar

30,109

13,430

5,921

3,477

52,937

s)

26,078

14,586

5,375

4,726

50,765

10,185

6,016

2,748

3,322

22,271

19,519

12,184

4,099

11,561

47,363

7,566

6,698

801

1,341

16,406

C urren t operatin g expenses:

Interest on time and savings deposits.....................

Interest and discount on borrowings.......................

Directors’ and professional fees................................

Employees’ salaries and wages..................................

Taxes (other than on incom e)...................................

Other expenses of occupancy and maintenance of

banking quarters...................................................

Other current operating expenses.............................

T otal cu rren t operatin g expen ses.................

54,480

452

4,526

45,279

35,801

16,219

15,184

43,601

215,542

200

3

40

741

164

140

137

459

1,884

2,624

21

319

5,409

1,268

1,086

974

3,317

15,018

5,988

27

653

8,245

2,620

1,809

1,644

5,505

26,491

8,706

27

792

8,834

4,143

2,435

2,061

6,905

33,903

10,016

76

808

7,895

5,859

2,873

2,419

7,622

37,568

10,070

18

755

6,360

6,872

2,811

2,500

7,371

36,757

4,054

1

256

2,540

3,751

1,338

1,209

3,307

16,456

7,711

279

678

4,357

8,936

3,259

3,229

7,402

35,851

5,111

225

898

2,188

468

1,011

1,713

11,614

N et cu rren t operatin g ea rn in g s .............................. 85,723 688 6,456 11,977 15,106 15,369 14,008 5,815 11,512 4,792

Profits o n assets sold or exchanged, recoveries, 

and red u ction s in valu ation a llow an ces:

Profits on securities sold or exchanged...................

Profits on other assets sold or exchanged...............

Recoveries and reductions in valuation allowances

on loans...................................................................

Recoveries and reductions in valuation allowances

on securities.............................••••;.............

All other recoveries and reductions in valuation

allowances...............................................................

T ota l profits on assets sold, recoveries, etc.

N et earnings, profits and recoveries o n assets, 

e tc.............................................................................

23,597

1,212

10,770

9,996

6,436

52,011

36

7

145

26

38

252

784

69

1,071

285

312

2,521

1,888

141

1,543

706

553

4,831

3,109

186

1,628

1,207

854

6,984

3,972

280

1,689

1,641

1,013

8,595

4,730

298

1,910

2,321

1,010

10,269

2,081

66

525

1,223

812

4,707

4,938

134

1,702

2,512

1,721

11,007

2,059

31

557

75

123

2,845

137,734 940 8,977 16,808 22,090 23,964 24,277 10,522 22,519 7,637

Losses, ch arge-offs, and ad d ition s to valuation 

a llow an ces:

All other losses, charge-offs, and additions to

valuation allowances............................................

T otal losses, ch arge-offs, e tc ............................

25,336

32,903

24,610

82,849

292

48

170

510

2,004

997

1.256

4.257

2,754

2,808

2,006

7,568

3,583

4,894

2,852

11,329

4,301

5,720

3,611

13,632

4,657

7,382

3,716

15,755

1,874

3,027

2,580

7,481

4,388

6,679

6,184

17,251

1,483

1,348

2,235

5,066

192 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends 54,885

4,620

50,265

430

51

4,720

418

9,240

758

8,482

10,761

833

10,332

738

9,594

8,522

558

7,964

3,041

258

2,783

5,268

748

4,520

2,571

258

Net profits after income taxes................................. 379 4,302 9,928 2,313

Cash dividends declared and interest paid on

capital:

Interest paid on capital notes and debentures and

dividends declared on preferred stock............

Dividends declared on common capital..................

Total cash dividends declared and interest

paid on capital...................................................

4,669

20,121

24,790

38

159

197

302

1,507

1,809

505

2,843

3,348

717

3,320

4,037

927

3,165

4,092

959

2,993

3,952

461

1,400

1,861

512

3,316

3,828

248

1,418

1,666

Net profits after dividends........................................ 25,475 182 2,493 5,134 5,891 5,502 4,012 922 692 647

Other additions to capital accounts:

Preferred capital sold (par or face value).............. 2,044 10 34 111 378 472 589 450

Common capital sold (par value)............................. 2,013

809

9 89 126

14

444

93

264

198

446

285

11

8

250 374

Premiums on new capital sold.................................. 23 188

Deposits waived and subordinated.......................... 49 0 49

Assessments and other contributions...................... 1,001 22 128 136 225 160 104 166 fiO

Total other additions to capital accounts.. 5,916 41 274 387 1,140 1,143 1,424 635 310 562

Other deductions from capital accounts

Preferred capital retired (par or face value).........

Common capital retired (par value).......................

11,523

190

38 735

5

1,699

105

1,940

80

2,233 2,194 481 803 1,400

Premiums on preferred capital retired.................... 53 12 4 26 4 7

Payments on subordinated claims........................... 2,806

14,572

7 220 415 756 575 344 403 86

889

Total other deductions from capital

accounts................................................................ 45 972 2,223 2,802 2,812 2,545 884 1,400

Net change in total capital accounts for year. . 16,819 178 1,795 3,298 4,229 3,833 2,891 673 113 -191

Total capital accounts, December 31, 1938................... 955,540

972,359

10,872

11,050

72,698

74,493

113,443

116,741

145,961

150,190

167,197

171,030

168,639

1 71,530

74,652

75,325

153,169

153,282

48,909

Total capital accounts, December 30, 1939................... 48,718

Average of assets and liabilities:1

ASSETS

Cash and due from banks.................................... 1,752,372

2,395,327

2,731,244

334,109

7.213.052

3,054,948

3,147,764

6,202,712

44,013

966,327

7.213.052

13,397

6,732

21,092

2,024

43,245

22,730

9,459

32,189

170

118,180

95,775

193,028

13,554

420.537

216.931 

129,001

345.932

1,173

73,432

420.537

221,682

219.375

360.375 

24,144

825.576

403,961

303,672

707,633

2,580

115,363

825.576

286,476

334,839

460,780

37,654

1.119.749

502,175

464,536

966,711

4,215

148,823

1.119.749

322,241

408,504

502,254

54,761

1.287.760

541,217

570,253

1,111,470

6,313

169,977

1.287.760

309,011

469,036

472,266

63,647

1.313.960

526,494

611,149

1,137,643

5,274

171,043

1.313.960

140,559

203,315

183,888

34,532

562.294

227,152

256,373

483,525

3,569

75,200

562.294

265,508

421,910

376,730

91,162

1.155.310

482,938

500,236

983,174

19,153

152,983

1.155.310

75,318

235,841

160,831

12,631

484.621

131,350

303,085

434,435

1,566

48,620

484.621

Securities...................................................................

Loans.........................................................................

Miscellaneous assets...............................................

Total assets.......................................................

LIABILITIES AND CAPITAL 

Demand deposits........................................................

Time deposits...............................................................

Total deposits...................................................

Miscellaneous liabilities...............................................

Total capital accounts................................................. 10,886

Total liabilities and capital accounts.......... 43,245

Number of active officers, December 30........

Number of other employees, December 30. . .

20,202

32,386

658

338

4,009

2,280

4,942

3,829

4,323

4,799

2,986

5,348

1,865

5,400

549

2,769

773

6,379

97

1,244

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.

2 For banks excluded, see footnotes 1 and 2, Table 141.

NOTE: Minus (-) indicates net decrease in total capital accounts.

Back figures— See the following Annual Reports: 1938, p. 218; 1937, p. 146; 1936, p. 168; 1935, p. 216; 1934, p. 236.

EARNINGS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 150. A v e r a g e s P e r B a n k o f E a r n in g s , E x p e n se s, a n d D is p o s itio n o f P r o f i t s o f In s u r e d C o m m e rc ia l B a n k s n o t

M e m b e r s o f t h e F e d e r a l R e s e r v e S y stem , 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

All

Banks with deposits of-—1

banks $100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

More than 

$50,000,000

(2)

Number of banks3................................................. 7,087 432 1,993 1,977 1,383 793 379 72 53 5

C urren t operating, earn in gs:

Interest and discount on loans.................................. $22,938 $3,961 $7,053 $12,169 $21,169 $37,967 $68,807 $141,457 $368,283 $1,513,200

Interest and dividends on securities........................ 10,617 532 1,671 3,780 8,169 16,936 38,485 83,556 229,887 1,339,600

Commissions, fees, and collection, exchange, and 

service charges....................................................... 4,820 1,065 1,655 2,736 4,370 7,467 14,182 38,167 77,340 160,200

Other current operating earnings.............................. 4,135 396 396 773 1,729 4,385 12,470 46,139 218,132 268,200

G ross cu rren t op eratin g ea rn in g s ................. 42,510 5,954 10,775 19,458 35,437 66,755 133,944 309,319 893,642 3,281,200

C urren t operatin g expenses:

Interest on time and savings deposits..................... $7,687 $463 $1,317 $3,029 $6,295 $12,631 $26,570 $56,306 $145,491 $1,022,200

Interest and discount on borrowings.......................

Directors’ and professional fees................................

63

639

6

93

11

160

14

330

20

573

96

1,019

47

1,992

14

3,555

5,264

12,792 45,000

6,389 1,715 2,713 4,170 6,386 9,956 16,781 35,278 82,208 179,600

Employees’ salaries and wages.................................. 5,052 380 636 1,325 2,996 7,388 18,132 52,097 168,603 437,600

Taxes (other than on incom e)................................... 2,289 324 545 915 1,761 3,623 7,417 18,583 61,491 93,600

Other expenses of occupancy and maintenance of

banking quarters...................................................

Other current operating expenses.............................

2,143 317 489 832 1,490 3,050 6,596 16,792 60,925 202,200

6,152 1,063 1,664 2,785 4,993 9,612 19,449 45,931 139,660 342,600

T ota l cu rren t op eratin g exp en ses.................. 30,414 4,361 7,535 13,400 24,514 47,375 96,984 228,556 676,434 2,322,800

N et cu rren t operatin g e a rn in g s .............................. $12,096 $1,593 $3,240 $6,058 $10,923 $19,380 $36,960 $80,763 $217,208 $958,400

Profits on assets sold or exchanged, recoveries, 

and red u ction s in valu ation allow an ces:

Profits on securities sold or exchanged................... $3,330 $83 $393 $956 $2,249 $5,010 $12,480 $28,903 $93,170 $411,800

Profits on other assets sold or exchanged............... 171 16 35 71 134 353 786 917 2,528 6,200

Recoveries and reductions in valuation allowances 

on loans................................................................... 1,520 336 537 780 1,177 2,130 5,040 7,292 32,113 111,400

Recoveries and reductions in valuation allowances 

on securities............................................................ 1,410 60 143 357 873 2,069 6,124 16,986 47,396 15,000

All other recoveries and reductions in valuation 

allowances............................................................... 908 88 157 280 617 1,277 2,665 11,278 32,472 24,600

T otal profits o n assets sold, recoveries, etc. 7,339 583 1,265 2,444 5,050 10,839 27,095 65,376 207,679 569,000

N et earnings, profits and recoveries o n assets,

$19,435 $2,176 $4,505 $8,502 $15,973 $30,219 $64,055 $146,139 $424,887 $1,527,400

Losses, ch arge-offs, and ad d ition s to valuation 

a llow an ces:

$3,575 $676 $1,006 $1,393 $2,591 $5,424 $12,288 $26,028 $82,792 $296,600

4,643 111 500 1,420 3,539 7,212 19,477 42,042 126,020 269,600

All other losses, charge-offs, and additions to 

valuation allowances............................................ 3,473 394 630 1,015 2,062 4,554 9,805

41,570

35,833 116,679 447,000

T otal losses, ch arge-offs, e tc ............................ 11,691 1,181 2,136 3,828 8,192 17,190 103,903 325,491 1,013,200

194 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N et profits b efore in co m e taxes and dividends

Federal and State taxes on net incom e.....................

N et profits after in co m e taxes .................................

C ash dividends declared and interest paid on 

ca p ita l:

Interest paid on capital notes and debentures and

dividends declared on preferred stock............

Dividends declared on common capital.................

T ota l cash dividends declared and interest 

paid on c a p ita l...................................................

N et profits after d iv id e n d s ........................................

O ther a ddition s to capital a ccou n ts:

Preferred capital sold (par or face value)..............

Common capital sold (par value).............................

Premiums on new capital sold ..................................

Deposits waived and subordinated..........................

Assessments and other contributions......................

T otal oth er ad d ition s to ca p ital accou nts

O ther d ed u ction s fro m capital a cco u n ts :

Preferred capital retired (par or face value).........

Common capital retired (par value).......................

Premiums on preferred capital retired....................

Payments on subordinated claims...........................

T ota l oth er d ed u ction s fro m capital 

a cco u n ts ................................................................

N et ch an ge in tota l cap ital a ccou n ts for y e a r. .

Total capital accounts, December 31, 1938...................

Total capital accounts, December 30, 1939...................

Average of assets and liabilities :l

ASSETS

Cash and due from banks..........................................

Securities.........................................................................

Loans...............................................................................

Miscellaneous assets.....................................................

T otal assets..............................................................

LIABILITIES AND CAPITAL

Demand deposits..........................................................

Time deposits................................................................

T otal d ep osits.........................................................

Miscellaneous liabilities...............................................

Total capital accounts.................................................

T otal liabilities and capital a cco u n ts ..........

Average number of active officers, December 80...........................................................

Average number of other employees, December 30...........................................................

$7,744

651

7,093

$995

118

877

$2,369

210

2,159

$4,674

384

4,290

$7,781

602

7,179

$13,029

931

12,098

$22,485

1,472

21,013

$42,236

3,583

38,653

$99,396

14,118

85,283

$514,200

51,600

462,600

$659

2,839

$88

368

$152

756

$255

1,438

$518

2,401

$1,169

3,991

$2,530

7,897

$6,403

19,444

$9,660

62,566

$49,600

283,600

3,498 456 908 1,693 2,919 5,160 10,427 25,847 72,226 333,200

$3,595 $421 $1,251 $2,597 $4,260 $6,938 $10,586 $12,806 $13,057 $129,400

$289 $23 $17 $56

64

7

$273

321

67

$595

333

250

$1,554

1,177

752

$6,249

153

111

284

114

21 45

12

$4,717 $74,800

37,600

6 62

141 51 63 69 163 202 274 2,306

8,819

1,132

834 95 137 196 824 1,442 3,757 5,849 112,400

$1,626

27

$88 $369

3

$859

53

$1,402

58

$2,816 $5,789 $6,681 $15,151 $280,000

7 6 2 19 5 18

396 16 110 210 547 725 908 5,597

12,278

1,623

2,056 104 488 1,124 2,026 3,546 6,715 16,774 280,000

$2,373 $412 $900 $1,669 $3,058 $4,834 $7,628 $9,347 $2,132 $-38,200

13^,830

137,203

25,167

25,579

36,177

37,377

57,381

59,050

105,539

108,597

210,8 U

215,675

A H ,958

1+52,586

1,036,831+

1,01,6,181

2,889,981

2,892,113

9,781,800

9,7^3,600

$247,266

337,989

385,388

47,143

1,017,786

$31,012

15,583

48,824

4,685

100,104

$59,298

48,056

96,853

6,800

211,007

$112,131

110,964

182,284

12,211

417,590

$207,141

242,111

333,174

27,226

809,652

$406,357

515,137

633,359

69,056

1,623,909

$815,332

1,237,562

1,246,084

167,935

3,466,913

$1,952,208

2,823,819

2,554,000

479,612

7,809,639

$5,009,585

7,960,566

7,108,113

1,720,038

21,798,302

$15,063,600

47.168.200

32.166.200 

2,526,200

96.924.200

$431,064

444,160

875,224

6,210

136,352

1,017,786

$52,616

21,896

74,512

393

25,199

100,104

$108,846

64,727

173,573

589

36,845

211,007

$204,330

153,603

357,933

1,304

58,353

417,590

$363,106

335,890

698,996

3,047

107,609

809,652

$682,493

719,108

1,401,601

7,961

214,347

1,623,909

1,389,166

1,612,530

3,001,696

13s916

451,301

3,466,913

$3,154,889

3,560,736

6,715,625

49,570

1,044,444

7,809,639

$9,112,038

9,438,415

18,550,453

361,377

2,886,472

21,798,302

$26,270,000

60.617.000

86.887.000 

313,200

9,724,000

96,924,200

2.9 1.5 2.0 2.5 3.1 3.8 4.9 7.6 14.6 19.4

4.6 .8 1.1 1.9 3.5 6.7 14.2 38.5 120.4 248.8

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.

2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.

8 For banks excluded, see footnotes 1 and 2, Table 141.

N OTE: Minus (-) indicates net decrease in total capital accounts.

Back figures— See the following Annual Reports: 1938, p. 220; 1937, p. 148; 1936, p. 170; 1935, p. 218 (revised); 1934, p. 238.

EARNINGS OF INSURED BANKS 195

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 151. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT M EMBERS

o f t h e F e d e r a l R e s e r v e S y s te m , 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

All

Banks with deposits of— 1

banks $100,000

or

less

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1,000,000

$1,000,000

to

$5,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$50,000,000

More than

$50,000,000

(2)

Number oi banks3 ................................................... 7,087 432 1,993 1,977 1,383 793 379 72 53 5

A m o u n ts per $100 of gross earnings

Current operating earnings:

Interest and discount on loans...................................... $53.96 $66.52 $65.46 $62.54 $59.74 $56.88 $51.37 $45.73 $41.21 $46.12

Interest and dividends on securities.......................... 24.98 8.94 15.51 19.43 23.05 25.37 28.73 27.01 25.72 40.83

Commissions, fees, and collection, exchange, and

service charges............................................................ 11.34 17.88 15.36 14.06 12.33 11.18 10.59 12.34 8.65 4.88

Other current operating earnings................................. 9.72 6.66 3.67 3.97 4.88 6.57 9.31 14.92 24.42 8.17

Gross current operating e arn in g s................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 MG.GO 100.00

C urrent operating expenses:

Interest on time and savings deposits....................... $18.08 $7.78 $12.22 $15.57 $17.76 $18.92 $19.84 $18.20 SI 6.28 $31.15

Interest and discount on borrowings..........................

Salaries, wages, and fees.................................................

.15

28.42

.12

36.74

.10

32.57

.07

29.94

.06

28.09

.14

27.51

.04

27.55

.00

29.40

.59

29.50 20.18

Taxes (other than on income)....................................... 5.38 5.44 5.06 4.70 4.97 5.43 5.54 6.01 6.88 2.85

Other expenses of occupancy and maintenance of

banking quarters........................................................ 5.04 5.33 4.54 4.27 4.21 4.57 4.92 5.43 6.82 6.16

Other current operating expenses................................ 14.48 17.84 15.45 14.32 14.09 14.40 14^52 14.85 15.62 10.45

Total current operating expenses................... 71.55 73.25 69.94 68.87 69.18 70.97 72.41 73.89 75.69 70.79

N et current operating ea rn in gs................................. $28.45 $26.75 $30.06 $31.13 $30.82 $29.03 $27.59 $26.11 $24.31 $29.21

A m o u n ts per $100 of total assets1

Current operating earnings:

Interest and discount on loans...................................... $2.25 $3.96 $3.34 $2.91 $2.61 $2.34 $1.98 $1.81 $1.69 $1.56

Interest and dividends on securities........................... 1.04 .53 .79 .91 T . o i 1.04 1.11 1.07 1.05 1.38

Commissions, fees, and collection, exchange, and

service charges............................................................ .47 1.06 .78 .66 .54 .46 .4i .49 .35 .17

Other current operating earnings................................. .42 .40 .20 .18 .22 .27 .36 .59 1.01 .28

Gross current operating earn in g s................... 4.18 5.95 5.11 4.66 4.38 4.11 3.86 3.96 4.10 3.39

C urrent operating expenses:

Interest on time and savings deposits....................... $0.76 $0.46 $0.62 $0.73 $0.78 $0.78 $0.77 $0.72 $0.67 $1.05

Interest and discount on borrowings..........................

Salaries, wages, and fees.................................................

.01

1.19

.01

2.19

.00

1.66

.00

1.40

.00

1.23

.01

1.13

.00

1.06

.00

1.16

.02

1.21 .68

Taxes (other than on income)....................................... .22 .32 .26 .22 .22 .22 .21 .24 .28 .10

Other expenses of occupancy and maintenance of

banking quarters........................................................ .21 .32 .23 .20 .18 .19 .19 .22 .28 .21

Other current operating expenses................................ .60 1.06 .80 .66 .62 .59 .56 .59 .64 .36

T otal current operating expenses................... 2.99 4.36 3.57 3.21 3.03 2.92 2.79 2.93 3.10 2.40

N et current operating e arn in g s................................. $1.19 $1.59 $1.54 $1.45 $1.35 $1.19 $1.07 $1.03 $1.00 $0.99

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc........................

Losses and depreciation on assets............................

Net profits before income taxes and dividends

Federal and State taxes on net income...................

Net profits after income taxes.............................

Cash dividends declared.............................................

Net profits after dividends....................................

Other additions to total capital accounts...............

Other deductions from total capital accounts. . . .

Net change in total capital accounts...............

Total capital accounts, December 31, 1938...............

Total capital accounts, December 30, 1939...............

$0.72

1.15

.76

.06

.70

.35

.35

.08

.20

.23

13.25

1348

$0.58

1.18

.99

.11

.88

.46

.42

.09

.10

.41

25.H

25.55

$0.60

1.02

1 .1 2

.10

1 .0 2

.43

.59

.07

.23

.43

17.28

17.71

$0.59

.92

1 .1 2

.09

1.03

.41

.62

.05

.27

.40

13.7k

n . u

$0.62

1.01

.96

.07

.89

.36

.53

.10

.25

.38

13.03

13 .lf.1

$0.67

1.06

.80

.05

.75

.32

.43

.09

.22

.30

12.98

13.28

$0.78

1.20

.65

.04

.61

.30

.31

.11

.20

.2 2

12.83

13.05

$0.84

1.33

.54

.05

.49

.33

.16

.11

.15

.1 2

13.28

13.,W

$0.95

1.49

.46

.07

.39

.33

.06

.03

.08

.0 1

13.26

13.27

$0.59

1.05

.53

.05

.48

.35

.13

.12

.29

-.04

10.09

10.05

Amounts per $100 of total capital

accounts1

Net current operating earnings......................... $8.87 $6.32 $8.79 $10.38 $10.15 $9.04 $8.19 $7.73 $7.53 $9.86

Recoveries, profits on securities, etc........................ 5.38 2.31 3.43 4.19 4.69 5.06 6.00 6.26 7.19 5.85

Losses and depreciation on assets............................ 8.57 4.68 5.79 6.56 7.61 8.02 9.21 9.95 11.28 10.42

Net profits before income taxes and dividends 5.68 3.95 6.43 8 .0 1 7.23 6.08 4.98 4.04 3.44 5.29

Federal and State taxes on net income................... .48 .47 .57 .66 .56 .43 .32 .34 .49 .53

Net profits after income taxes............................. 5.20 3.48 5.86 7.35 6.67 5.65 4.66 3.70 2.95 4.76

Cash dividends declared............................................. 2.56 1.81 2.47 2.90 2.71 2.41 2.31 2.47 2.50 3.43

Net profits after dividends.................................... 2.64 1.67 3.39 4.45 3.96 3.24 2.35 1.23 .45 1.33

Other additions to total capital accounts............... .61 .38 .37 .34 .77 .67 .83 .84 .20 1.16

Other deductions from total capital accounts. . . . 1.51 .41 1.32 1.93 1.89 1.65 1.49 1.18 .58 2.88

Net change in total capital accounts.............. 1.74 1.64 2.44 2 .8 6 2.84 2.26 1.69 .89 .07 -0.39

Special ratios1

Interest and discount on loans per $100 of total

loans......................................................................... $5.95 $8.11 $7.28 $6.68 $6.35 $5.99 $5.52 $5.54 $5.18 $4.70

Interest and dividends on securities per $100 of

total securities....................................................... 3.14 3.42 3.48 3.41 3.37 3.29 3.11 2.96 2.89 2.84

Profits on securities per $100 of total securities. . .99 .53 .82 .86 .93 .97 1.01 1.02 1.17 .87

Interest on time and savings deposits per $100 of

time and savings deposits.................................. 1.73 2.11 2.03 1.97 1.87 1.76 1.65 1.58 1.54 1.69

Losses on loans per $100 of total loans................... .93 1.38 1.04 .76 .78 .86 .99 1.02 1.16 .92

Losses on securities per $100 of total securities... 1.37 .71 1.04 1.28 1.46 1.40 1.57 1.49 1.58 .57

Average of assets and liabilities per $100 of

total assets i1

ASSETS

Cash and due from banks.......................................... $24.29 $30.98 $28.10 $26.85 $25.58 $25.02 $23.52 $25.00 $22.98 $15.54

Securities......................................................................... 33.21 15.57 22.77 26.57 29.90 31.72 35.70 36.16 36.52 48.67

Loans................................................................................ 37.87 48.77 45.90 43.65 41.15 39.00 35.94 32.70 32.61 33.19

Miscellaneous assets..................................................... 4.63 4.68 3.23 2.93 3.37 4.26 4.84 6.14 7.89 2.60

Total assets.............................................................. 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0

LIABILITIES AND CAPITAL

Demand deposits.......................................................... $42.35 $52.56 $51.58 $48.93 $44.85 $42.03 $40.07 $40.40 $41.80 $27.10

Time deposits................................................................ 43.64 21.87 30.68 36.78 41.48 44.28 46.51 45.59 43.30 62.54

Total deposits......................................................... 85.99 74.43 82.26 85.71 86.33 86.31 86.58 85.99 85.10 89.64

Miscellaneous liabilities............................................... .61 .39 .28 .31 .38 .49 .40 .63 1.66 .32

Total capital accounts................................................. 13.40 25.18 17.46 13.98 13.29 13.20 13.02 13.38 13.24 10.04

Total liabilities and capital accounts.......... 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 ICO.OO 1 0 0 .0 0

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.

2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.

3 For banks excluded, see footnotes 1 and 2, Table 141.

NOTE: Minus (-) indicates net decrease in total capital accounts.

Back figures— See the following Annual Reports: 1938, p. 222; 1937, p. 150; 1936, p. 172; 1935, p. 220; 1934, p. 240.

EARNINGS OF INSURED BANKS 197

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 152. R a t io s o f E a r n in g s , E x p e n s e s , a n d D is p o s it io n of P r o f it s o f I n s u r e d C o m m e r c ia l B a n k s n o t M e m b e r s

of th e F e d e r a l R e s e r v e Sy s t e m , 1939

BANKS GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH LOCATED

All

banks

Banks in centers with population of—

Less than

250

250

to

500

500

to

1,000

1,000

to

2,500

2,500

to

5,000

5.000

to

10.000

10,000

to

25,000

25.000

to

50.000

50,000

or more

Number of banks1................................................. 7,087 597 1,289 1,592 1,495 701 485 356 155 417

Amounts per $100 of gross earnings

Current operating earnings:

Interest and discount on loans.................................. $53.96 $69.70 $66.55 $61.95 $59.03 $55.86 $56.06 $52.52 $53.53 $46.27

Interest and dividends on securities........................ 24.98 16.98 18.64 21.73 23.15 26.32 26.63 28.53 27.56 25.58

Commissions, fees, and collection, exchange, and

service charges....................................................... 11.34 11.08 11.83 12.65 13.23 12.33 10.09 10.12 8.30 11.20

Other current operating earnings.............................. 9.72 2.24 2.98 3.67 4.59 5.49 7.22 8.83 10.61 16.95

Gross current operating earnings................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Current operating expenses:

Interest on time and savings deposits..................... $18.08 $18.72 $17.60 $17.35 $16.96 $17.48 $18.52 $19.70 $19.72 $18.00

Interest and discount on borrowings....................... .15 .05 .07 .07 .07 .04 .02 .02 .15 .33 Salaries, wages, and fees............................................. 28.42 29.87 29.39 29.01 28.55 27.97 27.64 27.39 26.42 29.00 Taxes (other than on income)................................... 5.38 3.80 4.48 4.68 5.21 5.01 5.78 5.42 5.89 5.77

Other expenses of occupancy and maintenance of

banking quarters................................................... 5.04 4.07 3.61 4.08 3.97 4.03 4.13 5.34 5.20 6.43

Other current operating expenses............................. 14.48 14.34 14.52 13.90 14.17 14.01 14.29 14.46 14.05 15.01

Total current operating expenses.................. 71.55 70.85 69.67 69.09 68.93 68.54 70.38 72.33 71.43 74.54

Net current operating earnings.............................. $28.45 $29.15 $30.33 $30.91 $31.07 $31.46 $29.62 $27.67 $28.57 $25.46

Amounts per $100 of total assets2

Current operating earnings:

Interest and discount on loans.................................. $2.25 $3.18 $3.10 $2.81 $2.58 $2.31 $2.25 $2.01 $2.05 $1.93

Interest and dividends on securities........................ 1.04 .77 .87 .99 1.01 1.09 1.07 1.09 1.05 1.07

Commissions, fees, and collection, exchange, and

service charges....................................................... .47 .51 .55 .57 .58 .51 .41 .39 .32 .47

Other current operating earnings.............................. .42 .10 .14 .17 .20 .23 .29 .34 .40 .70

Gross current operating earnings................. 4.18 4.56 4.66 4.54 4.37 4.14 4.02 3.83 3.82 4.17

Current operating expenses:

Interest on time and savings deposits..................... $0.76 $0.85 $0.82 $0.79 $0.74 $0.72 $0.74 $0.75 $0.75 $0.75

Interest and discount on borrowings....................... .01 .00 .00 .00 .00 .00 .00 .00 .01 .01 Salaries, wages, and fees............................................. 1.19 1.36 1.37 1.32 1.25 1.16 1.11 1.05 1.01 1.21 Taxes (other than on income)................................... .22 .17 .21 .21 .23 .21 .23 .21 .23 .24

Other expenses of occupancy and maintenance of

banking quarters................................................... .21 .19 .17 .19 .17 .17 .17 .20 .20 .27

Other current operating expenses............................. .60 .66 .68 .63 .62 .58 .58 .56 .53 .63

Total current operating expenses.................. 2.99 3.23 3.25 3.14 3.01 2.84 2.83 2.77 2.73 3.11

Net current operating earnings.............................. $1.19 $1.33 $1.41 $1.40 $1.36 $1.30 $1.19 $1.06 $1.09 $1.06

198 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc........................ $0.72 $0.52 $0.58 $0.66 $0.64 $0.64 $0.64 $0.84 $0.88 $0.77

Losses and depreciation on assets............................ 1.15 .90 .98 1.04 .96 .99 1.13 1.27 1.29 1.26

Net profits before income taxes and dividends .76 .95 1 .0 1 1 .0 2 1.04 .95 .70 .63 .6 8 .57

Federal and State taxes on net income................... .06 .08 .08 .08 .08 .06 .05 .04 .05 .07

Net profits after income taxes............................. .70 .87 .93 .94 .96 .89 .65 .59 .63 .50

Cash dividends declared............................................. .35 .32 .37 .38 .38 .37 .36 .29 .27 .33

Net profits after dividends.................................... .35 .55 .56 .56 .58 .52 .29 .30 .36 .17

Other additions to total capital accounts............... .08 .03 .04 .07 .08 .13 .08 .14 .03 .07

Other deductions from total capital accounts. . . . .20 .12 .21 .28 .28 .25 .20 .22 .21 .14

Net change in total capital accounts............... .23 .46 .39 .35 .38 .40 .17 .2 2 .18 .1 0

Total capital accounts, December 31, 1938............... 13.25 U .8 2 15.01 13.86 13.18 12.67 13.22 12.68 13.37 13.13

Total capital accounts, December 30, 1939............... 1348 15.28 15.U0 U .21 13.56 13.07 13.39 12.90 13.55 13.23

Amounts per $100 of total capital

accounts2

Net current operating earnings......................... $8.87 $8 . 8 8 $9.31 $9.97 $1 0 .1 2 $10.07 $8.89 $8.24 $8.08 $8.06

Recoveries, profits on securities, etc........................ 5.38 3.47 3.81 4.67 4.73 4.96 4.81 6.54 6.54 5.87

Losses and depreciation on assets............................ 8.57 6.02 6.49 7.37 7.09 7.70 8.48 9.88 9.59 9.58

Net profits before income taxes and dividends 5.68 6.33 6.63 7.27 7.76 7.33 5.22 4.90 5.03 4.35

Federal and State taxes on net income................... .48 .53 .53 .55 .58 .47 .40 .32 .36 .52

Net profits after income taxes............................. 5.20 5.80 6 .1 0 6.72 7.18 6 .8 6 4.82 4.58 4.67 3.83

Cash dividends declared............................................. 2.56 2.12 2.42 2.73 2.89 2.87 2.62 2.26 2.01 2.55

Net profits after dividends.................................... 2.64 3.68 3.68 3.99 4.29 3.99 2 .2 0 2.32 2 .6 6 1.28

Other additions to total capital accounts............... .61 .17 .29 .51 .62 1.03 .59 1.07 .19 .53

Other deductions from total capital accounts. . . . 1.51 .79 1.37 1.98 2.05 1.91 1.49 1.68 1.50 1.08

Net change in total capital accounts............... 1.74 3.06 2.60 2.52 2 .8 6 3.11 1.30 1.71 1.35 .73

Special ratios2

Interest and discount on loans per $100 of total

loans......................................................................... $5.95 $6.43 $6.62 $6.53 $6.41 $6.05 $6.08 $5.67 $5.64 $5.51

Interest and dividends on securities per $100 of

total securities....................................................... 3.14 3.25 3.44 3.45 3.42 3.40 3.30 3.06 3.06 2.90

Profits on securities per $100 of total securities. . . .99 .85 .88 .90 .92 .86 .97 1.06 1.04 1.04

Interest on time and savings deposits per $100 of

time and savings deposits.................................. 1.73 2.02 2.04 1.98 1.93 1.85 1.75 1.69 1.62 1.57

Losses on loans per $100 of total loans................... .93 .78 .83 .85 .80 .88 .89 .96 .98 1.04

Losses on securities per $100 of total securities. .. 1.37 1.24 1.36 1.44 1.25 1.28 1.56 1.71 1.64 1.22

Average of assets and liabilities : 2 (In thousands of dollars)

ASSETS

Cash and due from banks.......................................... 1,752,372 31,907 88,876 155,394 241,381 187,858 194,819 201,373 112,921 537,843

Securities......................................................................... 2,395,327 31,153 89,386 174,350 263,106 231,379 242,924 303,105 160,475 899,449

Loans............................................................................... 2,731,244 64,760 165,846 262,389 357,638 275,976 277,271 300,403 168,886 858,075

Miscellaneous assets..................................................... 334,109 3,127 9,873 16,631 27,128 25,701 33,606 42,120 23,365 152,558

Total assets.............................................................. 7,213,052 130,947 353,981 608,764 889,253 720,914 748,620 847,001 465,647 2,447,925

LIABILITIES AND CAPITAL

Demand deposits.......................................................... 3,054,948 55,896 157,299 279,927 426,357 343,887 328,534 356,659 183,210 923,179

Time deposits................................................................ 3,147,764 55,264 142,206 241,797 341,530 281,473 318,120 378,986 217,301 1,171,087

Total deposits......................................................... 6,202,712 111,160 299,505 521,724 767,887 625,360 646,654 735,645 400,511 2,094,266

Miscellaneous liabilities............................................... 44,013 194 775 1,277 2,070 2,292 1,781 2,420 2,245 30,959

Total capital accounts................................................. 966,327 19,593 53,701 85,763 119,296 93,262 100,185 108,936 62,891 322,700

Total liabilities and capital accounts.......... 7,213,052 130,947 353,981 608,764 889,253 720,914 748,620 847,001 465,647 2,447,925

1 For banks excluded, see footnotes 1 and 2, Table 141.

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.

Back figures— See the following Annual Reports: 1938, pp. 224-227; 1937, pp. 152-155; 1936, pp. 174-177.

EARNINGS OF INSURED BANKS 199

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Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO RATE OF NET EARNINGS

Table 153. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS

of the Federal Reserve System, 1939

All

Banks with net current operating earnings per $100 of total assets of— 1

banks $-0.50

or more

$-0.01

to $-0.49

$0.00

to $0.49

$0.50

to $0.99

$1.00

to $1.49

$1.50

to $1.99

$2.00

to $2.49

$2.50

to $2.99

$3.00

or more

Number of banks2................................................. 7,087 15 60 461 1,655 2,189 1,471 712 304 220

Amounts per $100 of gross earnings

Current operating earnings:

Interest and discount on loans.................................. $53.96 $48.35 $37.02 $38.95 $47.86 $55.01 $60.43 $59.25 $66.75 $71.54

Interest and dividends on securities........................ 24.98 23.63 28.53 25.29 29.75 27.95 21.15 18.09 9.53 7.09

Commissions, fees, and collection, exchange, and

service charges....................................................... 11.34 15.93 24.14 9.70 9.71 9.75 12.33 16.07 19.86 17.24

Other current operating earnings.............................. 9.72 12.09 10.31 26.06 12.68 7.29 6.09 6.59 3.86 4.13

Gross current operating earnings................. 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0

Current operating expenses:

Interest on time and savings deposits..................... $18.08 $29.67 $21.83 $15.63 $20.14 $21.51 $15.12 $10.62 $9.81 $11.07

Interest and discount on borrowings....................... .15 3.30 .73 1.14 .03 .04 .11 .11 .08 .19

Salaries, wages, and fees............................................. 28.42 56.04 41.25 38.71 29.97 25.87 26.76 26.98 28.75 26.28

Taxes (other than on income)................................... 5.38 6.59 7.07 7.58 6.39 4.87 4.70 5.07 3.73 3.10

Other expenses of occupancy and maintenance of

banking quarters................................................... 5.04 10.99 10.37 9.90 5.93 4.20 3.81 3.54 4.36 4.03

Other current operating expenses............................. 14.48 23.63 25.45 18.39 15.91 13.16 13.17 12.39 14.29 15.16

Total current operating expenses.................. 71.55 130.22 106.70 91.35 78.37 69.65 63.67 58.71 61.02 59.83

Net current operating earnings.............................. $28.45 $-30.22 $-6.70 $8.65 $21.63 $30.35 $36.33 $41.29 $38.98 $40.17

Amounts per $100 of total assets1

Current operating earnings:

Interest and discount on loans.................................. $2.25 $1.28 $1.20 $1.42 $1.73 $2.21 $2.83 $3.22 $4.65 $6.39

Interest and dividends on securities........................ 1.04 .62 .92 .92 1.07 1.13 .99 .98 .66 .63

Commissions, fees, and collection, exchange, and

service charges....................................................... .47 .42 .78 .35 .35 .39 .58 .87 1.38 1.54

Other current operating earnings.............................. .42 .32 .34 .96 .46 .29 .28 .36 .28 .37

Gross current operating earnings................. 4.18 2.64 3.24 3.65 3.61 4.02 4.68 5.43 6.97 8.93

Current operating expenses:

Interest on time and savings deposits..................... $0.76 $0.78 $0.71 $0.57 $0.73 $0.87 $0.71 $0.58 $0.68 $0.99

Interest and discount on borrowings....................... .01 .09 .02 .04 .00 .00 .00 .01 .01 .02

Salaries, wages, and fees............................................. 1.19 1.48 1.34 1.41 1.08 1.04 1.25 1.47 2.00 2.35

Taxes (other than on income)................................... .22 .17 .23 .28 .23 .20 .22 .28 .26 .28

Other expenses of occupancy and maintenance of

banking quarters................................................... .21 .29 .34 .36 .21 .17 .18 .19 .30 .36

Other current operating expenses............................. .60 .63 .82 .67 .58 .52 .62 .66 1 .0 0 1.34

Total current operating expenses.................. 2.99 3.44 3.46 3.33 2.83 2.80 2.98 3.19 4.25 5.34

Net current operating earnings.............................. $1.19 $-0.80 $ -0 . 2 2 $0.32 $0.78 $1 .2 2 $1.70 $2.24 $2.72 $3.59

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc........................ $0.72 $1.23 $1.10 $0.90 $0.86 $0.61 $0.60 $0.56 $0.65 $0.74

Losses and depreciation on assets............................ 1.15 1.07 1.24 1.48 1.13 1.09 1.12 1.02 1.23 1.28

Net profits before income taxes and dividends .76 -.64 -.36 -.26 .51 .74 1.18 1.78 2.14 3.05

Federal and State taxes on net income................... .06 .01 .01 .01 .03 .06 .08 .15 .24 .45

Net profits after income taxes............................. .70 -.65 -.37 -.27 .48 .6 8 1 .1 0 1.63 1.90 2.60

Cash dividends declared............................................. .35 .06 .09 .14 .26 .33 .46 .61 .72 1.02

Net profits after dividends.................................... .35 -.71 -.46 -.41 .2 2 .35 .64 1 .0 2 1.18 1.58

Other additions to total capital accounts.............. .08 .16 .21 .09 .05 .12 .06 .07 .08 .06

Other deductions from total capital accounts. . . . .20 .36 .16 .12 .14 .25 .21 .29 .48 .21

Net change in total capital accounts............... .23 -.91 -.41 -.44 .13 .2 2 .49 .80 .78 1.43

Total capital accounts, December 31, 1938.............. 13.25 18.68 17.07 13.10 12.78 12 48 13.74 17.10 15.92 16.51

Total capital accounts, December 30, 1939.............. 1348 17.77 16.66 12.66 12.91 12.70 14-23 17.90 16.70 17.94

Amounts per $100 of total capital

accounts1

Net current operating earnings......................... $8.87 $-4.36 $-1.28 $2.45 $6.06 $9.69 $1 2 .1 0 $12.78 $16.62 $20.82

Recoveries, profits on securities, etc........................ 5.38 6.74 6.51 6.99 6.70 4.88 4.27 3.19 4.01 4.27

Losses and depreciation on assets............................ 8.57 5.87 7.37 11.44 8.81 8.72 7.96 5.81 7.54 7.40

Net profits before income taxes and dividends 5.68 -3.49 -2.14 - 2 .0 0 3.95 5.85 8.41 10.16 13.09 17.69

Federal and State taxes on net income.................. .48 .08 .07 .09 .24 .42 .62 .89 1.47 2.61

Net profits after income taxes............................. 5.20 -3.57 - 2 .2 1 -2.09 3.71 5.43 7.79 9.27 11.62 15.08

Cash dividends declared............................................. 2.56 .31 .50 1.13 1.99 2.67 3.22 3.43 4.38 5.90

Net profits after dividends.................................... 2.64 -3.88 -2.71 -3.22 1.72 2.76 4.57 5.84 7.24 9.18

Other additions to total capital accounts.............. .61 .87 1.21 .66 .40 .94 .43 .38 .48 .34

Other deductions from total capital accounts. . . . 1.51 1.98 .93 .90 1.11 1.92 1.52 1.67 2.93 1.25

Net change in total capital accounts.............. 1.74 -4.99 -2.43 -3.46 1 .0 1 1.78 3.48 4.55 4.79 8.27

Special ratios1

Interest and discount on loans per $100 of total

loans......................................................................... $5.95 $5.55 $4.64 $4.89 $5.29 $5.71 $6.41 $7.06 $8.38 $9.70

Interest and dividends on securities per $100 of

total securities....................................................... 3.14 3.28 2.72 2.80 2.92 3.20 3.54 3.61 3.91 4.86

Profits on securities per $100 of total securities.. . .99 4.28 2.09 1.45 1.06 .86 .82 .69 .75 1.46

Interest on time and savings deposits per $100 of

time and savings deposits.................................. 1.73 1.63 1.54 1.45 1.65 1.78 1.84 1.92 1.95 1.97

Losses on loans per $100 of total loans.................. .93 .32 1.66 1.18 .88 .87 .91 1 .0 0 1.16 .99

Losses on securities per $100 of total securities.. . 1.37 2.75 1.13 1.12 1.46 1.31 1.58 1.05 1.66 1.93

Average of assets and liabilities

ASSETS (In thousands of dollars)

Cash and due from banks.......................................... 1,752,372 3,369 18,895 192,797 576,493 556,927 250,753 91,631 35,573 25,934

Securities......................................................................... 2,395,327 1,309 20,014 207,255 842,454 887,740 288,555 105,067 24,480 18,453

Loans............................................................................... 2,731,244 1,586 15,244 182,482 748,496 978,444 455,887 175,724 80,076 93,305

Miscellaneous assets..................................................... 334,109 634 4,828 45,884 124,334 100,882 36,618 12,909 4,153 3,867

Total assets.............................................................. 7,213,052 6,898 58,981 628,418 2,291,777 2,523,993 1,031,813 385,331 144,282 141,559

LIABILITIES AND CAPITAL

Demand deposits.......................................................... 3,054,948 2,204 19,708 291,593 980,578 968,558 484,573 200,024 67,694 40,016

Time deposits................................................................ 3,147,764 3,311 27,086 246,586 1,008,237 1,228,380 396,993 115,598 50,678 70,895

Total deposits......................................................... 6,202,712 5,515 46,794 538,179 1,988,815 2,196,938 881,566 315,622 118,372 110,911

Miscellaneous liabilities............................................... 44,013 121 2,195 9,380 7,775 8,835 5,042 2,088 2,333 6,244

Total capital accounts................................................. 966,327 1,262 9,992 80,859 295,187 318,220 145,205 67,621 23,577 24,404

Total liabilities and capital accounts......... 7,213,052 6,898 58,981 628,418 2,291,777 2,523,993 1,031,813 385,331 144,282 141,559

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.

2 For banks excluded, see footnotes 1 and 2, Table 141.

NOTE: Minus (-) indicates net deficit, net loss, or net decrease in total capital accounts.

Back figures— See the following Annual Reports: 1938, pp. 228-231; 1937, pp. 156-159; 1936, pp. 182-185.

EARNINGS OF INSURED BANKS 201

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO RATE OF INTEREST PAID ON TIME AND SAVINGS DEPOSITS

Table 154. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS

of the Federal Reserve System, 1939

All

banks

Banks with

no time

and savings

deposits

Banks paying interest per $100 of time and savings deposits of— 1

Less than

$0.50

$0.50

to $0.99

$1.00

to $1.49

$1.50

to $1.99

$2.00

or more

Number of banks2.............................................................................................. 7,087 211 43 268 782 3,097 2,686

Am ounts per $100 of gross earnings

Current operating earnings:

Interest and discount on loans.............................................................................. $53.96 $59.36 $34.22 $37.69 $44.10 $55.95 $63.70

Interest and dividends on securities.................................................................... 24.98 16.04 31.07 25.26 28.74 25.96 19.91

Commissions, fees, and collection, exchange, and service charges.............. 11.34 20.45 15.18 12.91 11.69 10.62 11.48

Other current operating earnings.......................................................................... 9.72 4.15 19.53 24.14 15.47 7.47 4.91

Gross current operating earnings............................................................. 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0

Current operating expenses:

$18.08

.15

Interest on time and savings deposits.................................................................

Interest and discount on borrowings.................................................................... $0.11

$1.99

.03

$7.21

1.26

$14.99

.04

$20.76

.07

$20.01

.09

Salaries, wages, and fees......................................................................................... 28.42 38.03 37.34 37.02 30.15 26.64 27.18

Taxes (other than on income)............................................................................... 5.38 6.28 2.99 6.97 5.94 5.19 4.92

Other expenses of occupancy and maintenance of banking quarters.......... 5.04 5.10 21.30 7.15 6.12 4.50 3.84

Other current operating expenses......................................................................... 14.48 16.38 18.87 16.89 15.98 13.64 13.86

Total current operating expenses.............................................................. 71.55 65.90 82.52 76.50 73.22 70.80 69.90

Net current operating earnings.......................................................................... $28.45 $34.10 $17.48 $23.50 $26.78 $29.20 $30.10

Amounts per $100 of total assets1

Current operating earnings:

Interest and discount on loans............................................................................... $2.25 $2.66 $1.11 $1.44 $1.62 $2.39 $2.98

interest and dividends on securities.................................................................... 1.04 .72 1.01 .96 1.06 1.11 .93

Commissions, fees, and collection, exchange, and service charges.............. .47 .91 .49 .49 .43 .45 .54

Other current operating earnings.......................................................................... .42 .19 .63 .92 .56 .33 .23

Gross current operating earnings............................................................. 4.18 4.48 3.24 3.81 3.67 4.28 4.68

Current operating expenses:

Interest on time and savings deposits.................................................................

Interest and discount on borrowings....................................................................

$0.76

.01 $0.00

$0.06

.00

$0.27

.05

$0.55

.00

$0.89

.00

$0.94

.00

Salaries, wages, and fees......................................................................................... 1.19 1.70 1.21 1.41 1.11 1.14 1.27

Taxes (other than on income)............................................................................... .22 .28 .10 .27 .22 .22 .23

Other expenses of occupancy and maintenance of banking quarters.......... .21 .23 .69 .27 .22 .19 .18

Other current operating expenses......................................................................... .60 .74 .61 .64 .59 .59 .65

Total current operating expenses.............................................................. 2.99 2.95 2.67 2.91 2.69 3.03 3.27

Net current operating earnings.......................................................................... $1.19 $1.53 $0.57 $0.90 $0.98 $1.25 $1.41

202 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc.........................................................

Losses and depreciation on assets..............................................................

Net profits before income taxes and dividends.............................

Federal and State taxes on net income....................................................

Net profits after income taxes...............................................................

Cash dividends declared...............................................................................

Net profits after dividends......................................................................

Other additions to total capital accounts................................................

Other deductions from total capital accounts........................................

Net change in total capital accounts................................................

Total capital accounts, December 31, 1938................................................

Total capital accounts, December 30, 1939................................................

Amounts per $100 of total capital accounts1

Net current operating earnings...........................................................

Recoveries, profits on securities, etc.........................................................

Losses and depreciation on assets..............................................................

Net profits before income taxes and dividends.............................

Federal and State taxes on net income....................................................

Net profits after income taxes..............................................................

Cash dividends declared...............................................................................

Net profits after dividends......................................................................

Other additions to total capital accounts................................................

Other deductions from total capital accounts........................................

Net change in total capital accounts................................................

Special ratios1

Interest and discount on loans per $100 of total loans........................

Interest and dividends or securities per $100 of total securities. . . .

Profits on securities per $100 of total securities....................................

Interest on time and savings deposits per $100 of time and savings deposits

Losses on loans per $100 of total loans....................................................

Losses on securities per $100 of total securities.....................................

Average of assets and liabilities:1

ASSETS

Cash and due from banks............................................................................

Securities..........................................................................................................

Loans.................................................................................................................

Miscellaneous assets.......................................................................................

Total assets...............................................................................................

LIABILITIES AND CAPITAL

Demand deposits............................................................................................

Time deposits..................................................................................................

Total deposits...........................................................................................

Miscellaneous liabilities................................................................................

Total capital accounts..................................................................................

Total liabilities and capital accounts...........................................

1,752,372

2,395,327

2,731,244

334,109

7,213,052

3,054,948

3,147,764

6,202,712

44,013

966,327

7,213,052

(In thousands of dollars)

$0.72 $0.56 $0.82 $0.71 $0.87 $0.71 $0.58

1.15 .57 1.03 1.57 1.25 1.14 .94

.76 1.52 .36 .04 .60 .82 1.05

.06 .13 .03 .05 .04 .06 .09

.70 1.39 .33 - . 0 1 .56 .76 .96

.35 .54 .28 .27 .28 .35 .42

.35 .85 .05 -.28 .28 .41 .54

.08 .02 .01 .19 .12 .04 .09

.20 .16 .01 .32 .19 .20 .19

.23 .71 .05 -.41 .2 1 .25 .44

13.25 15.16 10.21+ 13.32 12.63 13.18 11+.11+

13.1+8 15.87 10.29 12.91 12.81+ 13.1+3 11+.58

$8.87 $9.82 $5.53 $6.84 $7.71 $9.36 $9.77

5.38 3.58 7.99 5.40 6.85 5.33 4.05

8.57 3.60 10.01 11.95 9.85 8.52 6.55

5.68 9.80 3.51 .29 4.71 6.17 7.27

.48 .82 .27 .39 .29 .51 .62

5.20 8.98 3.24 -.10 4.42 5.66 6.65

2.56 3.49 2.77 2.02 2.21 2.62 2.92

2.64 5.49 .47 - 2 .1 2 2 .2 1 3.04 3.73

.61 .16 .15 1.46 .97 .33 .60

1.51 1.08 .18 2.43 1.51 1.51 1.28

1.74 4.57 .44 -3.09 1.67 1 .8 6 3.05

$5.95 $7.50 $3.60 $5.26 $5.06 $6.05 $6.65

3.14 3.12 2.86 2.62 2.85 3.26 3.52

.99 .88 2.02 .77 1.07 .58 .90

1.73 .46 .85 1.29 1.82 2.26

.93 .83 .22 1.60 .99 .91 .81

1.37 .41 .17 1 .0 0 1.69 1.38 1.21

24,080

13,997

21,574

1,230

60,881

31,766

35,583

31,083

2,503

100,935

157,398

199,713

148,246

37,092

542,449

423,069

616,475

532,817

93,912

1,666,273

727,074

1,117,320

1,299,029

141,564

3,284,987

51,278 76,333

14,006

90,339

252

10,344

100,935

286,459

175,556

462,015

9,318

71,116

542,449

735,438

709,139

1,444,577

9,132

212,564

1,666,273

1,226,681

1,603,961

2,830,642

16,074

438,271

3,284,987

51,278

144

9,459

60,881

388,985

412,239

698,495

57,808

1,557,527

678,759

645,102

1,323,861

9,093

224,573

1,557,527

H

>W2i—t

oGO

o

2

GO

a

wHO

w

>

wTfi

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.

2 For banks excluded, see footnotes 1 and 2, Table 141.

NOTE: Minus (-) indicates net loss or net decrease in total capital accounts.

to

o

CO

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 155. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED MUTUAL SAVINGS BANKS, 1935-1939

(Amounts in thousands of dollars)

1935 1936 1937 1939

Number of banks....................................................................................................

Current operating earnings:

Interest and discount on loans.....................................................................................

Interest and dividends on securities...........................................................................

Commissions, fees, and collection, exchange, and service charges....................

Other current operating earnings................................................................................

Gross current operating earnings...................................................................

Current operating expenses:

Interest and discount on borrowings..........................................................................

Directors’ and professional fees...................................................................................

Officers’ salaries................................................................................................................

Employees’ salaries and wages.....................................................................................

Taxes (other than on income).....................................................................................

Other expenses of occupancy and maintenance of banking quarters.................

Other current operating expenses................................................................................

Total current operating expenses....................................................................

Net current operating earnings................................................................................

Profits on assets sold or exchanged, recoveries, and reductions in valuation

allowances:

Profits on securities sold or exchanged......................................................................

Profits on other assets sold or exchanged.................................................................

Recoveries and reductions in valuation allowances on loans..............................

Recoveries and reductions in valuation allowances on securities.......................

All other recoveries and reductions in valuation allowances...............................

Total profits on assets sold, recoveries, etc..................................................

Net earnings, profits and recoveries on assets, etc...........................................

Losses, charge-offs, and additions to valuation allowances:

On loans.............................................................................................................................

On securities.....................................................................................................................

All other losses, charge-offs, and additions to valuation allowances.................

Total losses, charge-offs, etc...............................................................................

56 48

20,769

17,152

104

4,707

42,732

0)

3,162

23,049

3124

6,554

12,889

29,843

(4) 2,457

1,813

1,170

1,527

6,967

36,810

2,557

3,276

2,642

8,475

18,893

16,551

132

5,805

41,381

18 162 

1.254

1,928

3,111

606

7,270

14,349

27,032

4,032

1,843

999

263

4,524

11,661

38,693

1,656

3,101

6,868

11,625

18,759

15,649

228

7,412

42,048

34

201

1,360

2,048

3,800

751

7,619

15,813

26,235

3,466

2,414

774

93

3,675

10,422

36,657

4,874

7,089

3,266

15,229

20,328

15,581

321

8,241

44,471

4

236

1,320

2,141

4,128

700

7,774

16,303

28,168

4,244

2,250

693

108

1,057

8,352

36,520

1,127

13,409

13,810

28,346

25,075

22,489

168

9,224

56,956

180

1,808

3,361

4,798

931

8,628

19,706

37,250

8,207

781

345

1,163

3,436

13,932

51,182

2,446

9,914

13,701

26,061

204 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends..................................................

Federal and State taxes on net income.........................................................................

Net profits available for distribution to depositors and for addition to

capital funds..................................................................................................................

Interest and dividends paid depositors and interest paid on capital:

Interest and dividends paid depositors.................................................................

Interest paid on capital notes and debentures....................................................

Total interest and dividends.........................................................................

Net profits after interest and dividends.............

Other additions to capital accounts:

Preferred capital sold (par or face value)..............

Premiums on new capital sold..................................

Deposits waived and subordinated..........................

Assessments and other contributions......................

Total other additions to capital accounts.

Other deductions from capital accounts:

Preferred capital retired (par or face value)..........................

Premiums on preferred capital retired....................................

Payments to depositors on waived or subordinated claims.

Total other deductions from capital accounts........

Net change in total capital accounts for year..................

Total capital accounts at beginning of year...................................

Total capital accounts at end of year..............................................

Number of active officers, December 31. . .

Number of other employees, December 31.

(5)(5)

28,335

22,132

297

22,429

5,906

(8)

27,062

27,068

6

19,607

479

20,086

6,976

44

44

1,050

35

1,085

5,935

125,772

131,707

244

1,183

21,420

21,428

8

19,262

407

19,669

18

18

81

24

105

1,664

131,707

133,371

250

1,238

8,174

8,166

19,304

393

19,697

-11,531

1,576

21

1,597

26

591

-10,525

132,670

122,11*5

232

1,217

25,121

29

25,092

26,550

359

26,909

-1,817

25

159

40

199

-1,991

15k, 520

152,529

273

1,858

1 Included with “ interest paid on capital notes and debentures.” See the Annual Report for 1938, page 120.

2 Includes “income taxes.”

3 “ Depreciation on banking house, furniture and fixtures” only.

4 Included with recoveries.

5 Not available. See footnote 2.

6 Not available.

NOTE. Minus (-) indicates net loss or net decrease in total capital accounts

Back figures— 1934: see the Annual Report for 1938, p. 236.

EARNINGS OF INSURED BANKS 205

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Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

Table 156. NUMBER AND DEPOSITS OP BANKS WHICH SUSPENDED OPERATIONS, 1934-1939

GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE

Number Deposits (in thousands of dollars)1

Insured banks Insured banks

Total

Total

Members F. R.

System

Not

members

F. R.

System

Noninsured

banks2

Total

Total

Members F. R.

System

Not

members

F. R.

System

Noninsured

banks2

National State National State

292 210 15 6 189 82 125,927 85,546 14,566 26,548 44,432 40,381

Calendar year

1934 .............................. 57 9 1 8 48 36,937 1,952 40 1,912 34,985

1935 .............................. 34 26 4 22 8 9,852 9,005 5,263 3,742 847

1936 ................................ 44 41 1 40 3 11,412 10,820

19,242

507 10,313

10,155

592

1937 .................................................................... 59 53 4 2 47 6 19,722 7,379 1,708 480

1938 .............................................................. 56 49 1 1 47 7 313,007 11,969 36 211 11,722 31,038

1939 .............................................................. 42 32 4 3 25 10 34,997 32,558 1,341 24,629 6,588 2,439

Banks with deposits of— 1

$100 000 or less .......................... 120 84 2 82 36 6,941 4,964 76 4,888 1,977

$100,000 to $250,000 .................................. 88 68 2 2 64 20 13,982 10,937 376 313 10,248 3,045

$250 000 to $500 000 .................................... 45 28 6 1 21 17 15,536 9,518 2,062 365 7,091 6,018

$500 000 to $1 000 000 19 16 1 15 3 13,397

11,184

26,104

17,116

21,667

11,053

11,184

16,223

507 10,546 2,344

$1 000 000 to $2 000 000 ............. 8 8 2 1 5 3,456

8,089

1,343

2,860

6,385

$2 000 000 to $5 000 000 ............................ 8 5 2 1 2 3 5,274 9,881

$5 000 000 to $10 000 000 2 2 17,116

$10 000 000 to $50 000 000 1 1 1 21,667 21,667

Not available • ....................... 1 1 (3)

100

(3)

State

Alabama .............................. 1 1 1 100 100

Arkansas .............................. 5 5 5 1,081

84

1,081 1,081

California ............................ 1 1 84

Colorado ....................... 1 1 1 8 8 8

Connecticut ................... 2 2 1 1 1,514

726

1,514

692

464 1,050

Georgia .............................. 6 5 5 1 692 34

Illinois ......................................... 7 5 1 4 2 3,884 3,743 102 3,641 141

IndiRnE ................................ 29 12 12 17 5,513

4,805

688

3,225

4,097

296

3,225

503

2,288

8 4 1 3 4 3,594 708

9 4 4 5 296 392

206 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
ICentucky........

Louisiana.........

Maryland........

Michigan.........

Minnesota. . . .

Mississippi

Missouri..........

Montana..........

Nebraska.........

New Jersey . . .

New York. . . .

North Dakota.

Ohio..................

Oklahoma........

Pennsylvania. .

South Carolina

South Dakota.

Tennessee........

Texas................

Vermont...........

Virginia............

West Virginia.

Wisconsin........

17

3

1 2

4

2

30

3

4

10

1

162

4

4

1

21

8

151

3

3

16

16 4 6,035

1,697

669

4,229

1,654

669

1,474 2,755

1,654

669

1,806

3 1 43

1

2 2 3129 81 81 348

3 552 552 285 267

2 153 153 153

30 14 6,494 4,446

213

4,446

173

2,048

2 213 40

3 3 807 532 194 338 275

6 8 52,045 29,931

1,982

1,224

2,242

678

26,235 3,696 22,114

7,059

15

2 9,041 1,982

16 1 1,239 1,224

1,981

678

1 3 2,964 261 722

4 2 742 64

2 2 7,059 6,592

136

4,824 1,768

136

467

1 1 305 169

19 2,706

1,679

3,380

2,706

1,389

2,952

507 211 1,988

1,389

2,916

2,479

63

8 2 290

14 1 36 428

1 2,479

1,025

2,479

1 2 558 495 467

2 1,649

4,462

1,649

3,743

410 1,239

16 4 3,743 719

1 Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of latest report prior to suspension. Figures for each bank are rounded to

thousands of dollars.

2 Excludes noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation.

3 Deposits of 1 private noninsured bank in Michigan not available.

NOTE: For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

to

o

-3SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
Table 157. NUMBER AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD

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 , 1935-1939

GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE

Number Deposits (in thousands of dollars)1 Disbursement (in thousands of dollars)2

Total

Banks members

F. R. System Banks not

members Total

Banks members

F. R. System Banks not

members Total

Banks members

F. R. System Banks not

members

National State

F. R.

System National State

F. R.

System National State

F. R.

System

105 23 78 214,548 37,143 28,133 149,272 79,721 14,235 10,947 54,539

Calendar year

1935...................................................................... 1

27 

25 

24

28

1 4,357 

1 £

4,357 

10 796

2,865 

6 784

2,865 

1936 ............................................... 2 1 24 4 450

14

19

20

2 166 3,734

648

22,564

1,187

782

4,940

1,810

6,703

1,552

97

8,595

703

1937 ............................................. 10

4

7

ID

1 ft 9Qfi 12*246

4,631

18,100

5 402 7*116

21,385

41,571

2*079

10,980

34,165

193 8 

193 9 

1

1

50,054

125,145

22*859

105,858

Banks with deposits of— 1

$100,000 or less................................................. 2320 2 21

19

1,426

3,374

5,434

10,933

15,308

40,482

161

127

1,265

3,247

3,249

7,127

10,177

18,029

643

1,238

2,487

5,184

6,164

18,244

71 572

1,215

1,792

3,539

4,241

8,783

$100,000 to $250,000....................................... 1 23

$250,000 to $500,000....................................... 15 6 9 2,185

3,158

3,944

18,719

695

$500,000 to $1,000,000................................... 14

11

13

4 1 9 648

1,187

3,734

1,548

1,220

7,909

97

703

1,552

$1 000,000 to $2 ,000,000................................ 3 1

1

7

$2 000 000 to $5,000,000................................ 6 6

$5,000,000 to $10,000,000.............................. 6 1 5 41,721

95,870

8,849 32,872

73,306

16,506

29,255

2,769 13,737

$10,000,000 to $50,000,000........................... 3 1 2 22,564 8,595 20,660

More than $50,000,000...................................

State

Alabama.............................................................. 1 1 428

274

29

428

274

143 143

1 1 97 97

Georgia................................................................ 1 1 29 17 17

Illinois................................................................. 8 2 6 4,780

5,769

4,840

240

1,164 3,616

5,769

1.246

240

2,049

1,234

1,011

72

194 1,855

1,234

797

72

Indiana................................................................ 3 3

Iowa..................................................................... 2 1 1 3,594 214

Kansas................................................................. 3 3

K entucky............................................................ 3 3 3,528

3,707

3,042

12,221

1,876

83

297

3,528

3,707

809

6,758

1,876

1,093 1,093

2,374

266

Maryland............................................................ 3 3 2*374

1,564

4,797

582

27

117

Massachusetts................................................... 2 1 1 2,233

1,729

1,298

Michigan............................................................ 3 1 1 1 730

11

3,734 1,552 2,515

Missouri.............................................................. 11 582

Montana............................................................. 1 1 83

297

27

New Hampshire............................................... 1 1 117

New Jersey........................................................ 21 6 3 12 144,279 13,084 24,399 106,796 51,214 6,501 9,395 35,318

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
New York. . . .

North Carolina

North Dakota.

Oklahoma........

Pennsylvania. .

South Dakota.

Tennessee........

Texas................

Virginia............

Wisconsin........

12,289

869

2,167

586

6,564

127

322

78

4,085

2,068

11,555

437

2,060

127

734 3,900

292

3,463 437

869 292

2,167

149

1,262

84

1,262

52 32

4,504 4,305

23

1,332 2,973

23

322 114 114

44 44

4,085

2,068

2,364

942

2,364

942

1 Deposits are as of date of examination prior to loan, computed from figures for each bank rounded to thousands of dollars.

2 Principal of loans and purchase price of assets as shown by books of FDIC, December 30, 1939, computed from figures for each bank rounded to thousands of dollars.

Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.

NOTE: For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 209

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Federal Reserve Bank of St. Louis
Table 158, N u m b e r a n d D e p o s it s o f In s u r e d B a n k s P la c e d in R e c e iv e r s h ip o r M e r g e d w it h t h e F in a n c ia l A id

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 , 1934-1939

GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE

United States— total.

Calendar year

193 4 

193 5 

193 6 

1937.

1938.

1939.

Banks with deposits of— 1

$100,000 or less............................

$100,000 to $250,000.................

$250,000 to $500,000.................

$500,000 to $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 $50,000,000.

More than $50,000,000........

State

Alabama.. ..

Arkansas.. . .

Colorado... .

Connecticut.

Florida.........

Georgia.

Illinois..

Indiana.

Iowa. . .

Kansas.

Number

Total

312

107

86

44

30

19

16

6

4

Banks members F. R.

System

National

13

5

11

4

3

12

5

5

7

State

10

Banks not

members

F. R.

System

265

21

65

59

67

45

103

81

31

24

12

7

5

2

Deposits (in thousands of dollars)1

Total

293,634

1,952

13,058

27,735

33,011

60,175

157,703

6,369

13,983

15,230

21,986

26,492

50,316

41,721

117,537

528

1,081

8

1,514

274

721

5,728

8,994

5,343

536

Banks members F. R.

System

National

48,115

40

5,263

2,673

16,031

4,667

19,441

237

503

4,247

3,665

7,400

23,214

8,849

428

464

274

1,164

’ 3,594'

State

54,681

3,734

2,356

22,775

25,816

313

365

648

2,530

6,594

44,231

102

Banks not

members

F. R.

System

190,838

1,912

7,795

21,328

14,624

32,733

112,446

6,132

13,167

10,618

17,673

16,562

20,508

32,872

73,306

100

1,0818

1,050

721

4,462

8,994

1,749

536

210 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Kentucky...........

Louisiana...........

Maryland...........

Massachusetts. .

Michigan...........

Minnesota.........

Mississippi........

Missouri.............

Montana............

Nebraska...........

New Hampshire

New Jersey

New York.........

North Carolina.

North Dakota. .

Ohio....................

Oklahoma..........

Pennsylvania. . .

South Carolina.

South Dakota. .

Tennessee...........

Texas..................

Vermont.............

Virginia..............

West Virginia. .

Wisconsin...........

4

2

6

4

2

41

4

4

1

316

4

26

2

5

7

1

22

12

161

6 

3

24

3

2

412

181

4

26

1

4

4

1

19

12

141

4

2

24

7,551

1,654

4,376

3,042

12,366

552

153

6,322

296

532

297

174,210

14,271

869

3,391

2,242

1,179

13,156

136

2,833

1,867

3,030

2,479

4,643

1,649

5,811

1,474

2,233

1,729

285

123

194

297

13,084

13,537

261

437

6,884

634

495

410

3,734

50,634

211

6,077

1,654

4,376

809

6,903

267

153

6,322

173

338

110,492

734

869

3,391

1,981

742

6,272

136

1,988

1,867

2,916

2,479

4,148

1,239

5,811

Figure?for eac^bank are^rounded ^ o u T a ^ d d lar^*6 ° f deP°SitS ° f ^ ^ ^ ^ ° f F° IC ‘° anS aS ° f date 0t ‘ o loan.

«0n,10N ? I EL F' T forf I93-7 incl^de 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subFDIC aid seeTM?ges°78^79 msured status- For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with

toSUSPENSIONS, RECEIVERSHIPS, AND MERGERS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T ab le 159. N u m b er AND DEPOSITS OF BANKS WHICH SUSPENDED OPERATIONS, 1939

GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

Number Deposits (in thousands of dollars)1

Insured banks Insured banks

Total

Total

Members F. R.

System

Not

members

F. R.

System

Noninsured

banks

Total

Total

Members F. R.

System

Not

members

F. R.

System

Noninsured

banks

National State National State

42 32 4 3 25 10 34,997 32,558 1,341 24,629 6,588 2,439

Banks with deposits of— 1

14 8 8 6 790 510 510 280

$100,000 to $250,000.......................................

$250,000 to $500,000 ..................................

10

9

9

X

1

3

1 7

5

1

1

1,507

3.064

1,320

2.694

182

1,159

102 1,036

1,535

187

370

$500,000 to $1 000 000 . .... 7 5 5 2 5,109 3,507 3,507 1,602

$1 000 000 to $2 000 000

$2 000 000 to $5 000 000 1 1 1 2,860 2,860 2,860

$5 000 000 to $10 000 000

$10 000 000 to $50 000 000 1 1 1 21,667 21,667 21,667

State

Arkansas 1 1 1 192 192 192

C onnecti cut 1 1 1 464 464 464

Illinois 1 1 1 102 102 102

Indiana 2 1 1 1 149 137 137 12

Iowa 2 2 444 444

Kansas ........... . . . 3 1 1 2 220 58 58 162

Kentucky . . . . . 7 3 3 4 2,713

285

907 907 1,806

Minnesota 1 1 1 285 285

Missouri . 1 1 1 89 89 89

Montana 1 1 1 119 119 119

Nebraska 1 1 1 96 96 96

New Jersey .... ............. 4 4 2 2 26,087

137

26,087

122

24,527 1,560

North Dakota 3 2 2 1 122 15

Oklahoma . . 1 1 1 117 117 117

Pennsylvania 1 1 1 706 706 706

Tennessee 2 2 2 925 925 925

Texas 4 4 4 481 481 481

Virginia 1 1 1 182 182 182

West Virginia 1 1 1 410 410 410

Wisconsin 4 4 4 1,079 1,079 1,079

1 Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of latest report prior to suspension. Figures for each bank are rounded to

thousands of dollars.

NOTE: For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

Back figures—See the following Annual Reports: 1938, p. 244 1937, p. 166; 1936, p. 192; 1935, p. 224.

212 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 160. N u m b e r AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD

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 tio n , 1939

GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

Number Deposits (in thousands of dollars)1 Disbursement (in thousands of dollars)2

Total

Banks members

F. R. System Banks not

members Total

Banks members

F. R. System Banks not

members Total

Banks members

F. R. System Banks not

members

F. R.

National State System

F. R.

System National State

F. R.

System National State

United States— total........................................ 28

2

7 1 2 0 125,145

132

18,100 1,187 105,858

132

41,571

35

6,703 703 34,165

35

Banks with deposits of— 1

$100,000 or less................................................. 2

$100,000 to $250,000....................................... 4 4 824 824 361 361

$250,000 to $500,000....................................... 2 2 571 571 214 214

$500,000 to $1,000,000................................... 5 2 3 3,927

7,347

13,060

25.978

73,306

1,508 2,419

6,160

5,888

17,129

73,306

2,849 1,142 1,707

$1,000,000 to $2,000,000................................ 5 1 4 1,187 2,336 703 1,633

$2,000,000 to $5,000,000 .......................... 4 2 2 7,172

8,849

4,175

10,941

20,660

2,578

2,769

1,597

8,172

20,660

$5,000,000 to $10,000,000 ............................ 4 1 3

$10,000,000 to $50,000,000........................... 2 2

More than $50,000,000..................................

State

Florida..................................... ......... 1 1 274 274 97 97

Illinois.................................. . 2 2 186 186 129 129

Indiana................................................................ 2 2 4,786

94

4,786

94

988 988

Kansas................................................................ 1 1 20 20

Kentucky............................................................ 1 1 1,932

249

1,932

249

151 151

Maryland.......................................................... 1 1 64 64

New Hampshire............................. . . . 1 1 297 297 117 117

New Jersey........................................................ 15 4 1 10 107,317

9,583

'427

8,680

8,849

1,187 97,450 36,616 3,720 703 32,193

New York............................. 2 1 1 734 3,206 2,769 437

Wisconsin......................... 2 2 427 183 183

1 Deposits are as of date of examination prior to loan, computed from figures for each bank rounded to thousands of dollars.

2 Principal of loans and purchase price of assets as shown by books of FDIC, December 30, 1939, computed from figures for each bank rounded to thousands of dollars.

Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.

NOTE: For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

Back figures— See the Annual Report for 1938, p. 245.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 213

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Federal Reserve Bank of St. Louis
Table 161, N u m b er AND DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP OR MERGED WITH THE FINANCIAL AlD

of th e F ed eral D eposit I n su ran ce C orporation, 1939

GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

United States— total

Banks with deposits of-

$100,000 or less.......................

$100,000 to $250,000.............

$250,000 to $500,000.............

$500,000 to $1,000,000. .

$1,000,000 to $2,000,000.

$2,000,000 to $5,000,000.

$5,000,000 to $10,000,000..

$lp,000,000 to $50,000,000.

More than $50,000,000------

State

Arkansas....

Connecticut.

Florida.........

Illinois..........

Indiana........

Kansas . . . .

Kentucky. .

Maryland. .

Minnesota.

Missouri. . .

Montana..............

Nebraska.............

New Hampshire.

New Jersey.........

New York...........

Number

Total

Banks members F. R.

System Banks not

members

F. R.

System National State

60 11 4 45

10 10

13

10

1

5

1 11

5

10 2 8

5 1 4

5 2 1 2

4 1 3

3 1 2

1 1

1 1

1 1

3 1 2

3 3

2 2

4 4

1 1

1 1

1 1

1 1

1 1

1 1

19

2

4

1

3 12

1

Deposits (in thousands of dollars)1

Total

157,703

642

2,144

3,265

7,434

7,347

15,920

25,978

94,973

192

464

274

288

4,923

152

2,839

249

285

89

119

96

297

133,404

9,583

Banks members F. R.

System

National

19,441

182

1,730

1,508

’ 7,172

8,849

464

274

285

297

5,680

5,849

State

25,816

102

1,187

2,860

21,667

25,714

Banks not

members

F. R.

System

112,446

642

1,860

1,535

5,926

6,160

5,888

17,129

73,306

192

186

4,923

152

2,839

249

119

96

99,010

734

214 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
North Dakota............................................................................................. 2 2 122

117

706

925

481

182

410

1,506

122

117

706

925

481

Oklahoma..................................................................................... 1 1

Pennsylvania................................................................................................ 1 1

Tennessee.................................................................................................. 2 2

Texas................................................................... 4 4

Virginia......................................................................................... 1 1 182 West Virginia.......................................................................................... 1 1 410 Wisconsin................................................................................................ 6 6 1,506

1 Deposits of banks placed in receivership are as of date of suspension; deposits of banks merged with the aid of FDIC loans are as of date of examination prior to loan,

rigures for each bank are rounded to thousands of dollars.

NOTE: For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

Back figures— See the Annual Report for 1938, p. 246.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 215

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Federal Reserve Bank of St. Louis
Table 162. ACCOUNTS AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD

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 , 1935-1939

Name and location

Total, 1935-1939 (105 banks).................................

Calendar year

1935 ( 1 bank)..........................................................

1936 (27 banks)........................................................

1937 (25 banks)........................................................

1938 (24 banks)........................................................

1939 (28 banks)........................................................

1939

Bank of Hancock

Hancock, Wisconsin.............................................

The Hillsboro-Queen Anne Bank, Incorporated

Hillsboro, Maryland............................................

The American National Bank of Camden

Camden, New Jersey...........................................

Groveton National Bank

Groveton, New Hampshire................................

North Camden Trust Company

Camden, New Jersey...........................................

St. Joseph County Savings Bank

South Bend, Indiana...........................................

The St. Joseph Loan & Trust Company

South Bend, Indiana...........................................

The First National Bank & Trust Company of

Blackwood, New Jersey......................................

Peoples State Bank

Frankfort, Kentucky...........................................

The First National Bank in Brooksville

Brooksville, Florida.............................................

Rahway Trust Company

Rahway, New Jersey. .

Eden State Bank

Eden, Wisconsin..........

Class Number Total

Disbursement3

01 Absorbing bank

bank1

OI

accounts2 deposits2

Date Amount

577,333 $214,546,640 $79,725,027

12,324

46,258

56,300

159,682

302,769

4,356,778

16,698,882

18,294,152

50,054,822

125,142,006

2,864,893

6,784,510

7,115,912

21,386,133

41,573,579

C 701 247,878 January 13, 1939 125,175

People’s Bank of Coloma

Coloma, Wisconsin (Hancock branch)

C 1,660 248,816 January 23, 1939 63,708

The Liberty Bank

Easton, Maryland (Hillsboro branch)

A 3,616 799,517 February 6, 1939 642,908

Camden Trust Company

Camden, New Jersey

A 1,781 296,948 February 14, 1939 117,476

Peoples National Bank of Groveton4

Groveton, New Hampshire

C 4,227 820,079 February 14, 1939 516,857

Camden Trust Company

Camden, New Jersey

M 2,853 1,583,623 February 16, 1939 385,082 ! St. Joseph Bank and Trust Company4

| South Bend, Indiana

C 7,548 3,202,039 February 16, 1939 602,629 J

A 4,698 707,893 February 20, 1939 499,353

Camden Trust Company

Camden, New Jersey (Blackwood branch)

C 2,840 1,931,792 February 23, 1939 151,475

Farmers Bank and Capital Trust Company

Frankfort, Kentucky

A 1,194 273,957 February 27, 1939 97,131

Hernando State Bank

Brooksville, Florida

B 3,797 1,187,474 March 13, 1939 703,427

The Rahway National Bank

Rahway, New Jersey

C 441 179,081 March 20, 1939 57,567

The First State Bank of Campbellsport

Campbellsport, Wisconsin (Eden branch)

216 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
The First National Bank of Plainfield

Plainfield, New Jersey......................................... A 13,877 4,080,256 April 10, 1939 2,007,973

The Plainfield National Bank

Plainfield, New Jersey

Bank of Brussels

Brussels, Illinois..................................................... C 575 147,806 April 14, 1939 114,170

Bank of Calhoun County

Hardin, Illinois

The Trust Company of New Jersey

Jersey City, New Jersey....................................... C 111,420 48,822,331 April 21, 1939 14,021,674

The Trust Company of New Jersey

Jersey City, New Jersey

West Bergen Trust Company

Jersey City, New Jersey...................................... C 11,569 2,685,558 April 21, 1939 994,421

The Trust Company of New Jersey

Jersey City, N. J. (West Bergen branch)

Columbia Trust Company of New Jersey

Hoboken, New Jersey........................................... C 4,460 1,484,016 May 1, 1939 745,358 I Hudson Trust Company

Hudson Trust Company [ Union City, New Jersey

Union City, New Jersey....................................... C 32,944 24,484,047 May 1, 1939 6,638,402

Bank of Eden

Eden, New York..................................................... C 1,433 734,482 May 1, 1939 437,447

Bank of Gowanda

Gowanda, New York (Eden branch)

Gloucester City Trust Company

Gloucester City, New Jersey.............................. C 7,529 1,160,203 June 5, 1939 351,634

Camden Trust Company

Camden, New Jersey

Commonwealth Trust Company

Union City, New Jersey....................................... C 13,044 5,762,735 June 5, 1939 2,593,951

Commonwealth-Merchants Trust Company

Union City, New Jersey

Merchants Trust Company

Union City, New Jersey....................................... C 16,393 5,592,711 June 5, 1939 3,119,205

Commonwealth-Merchants Trust Company

Union City, N. J. (Merchants branch)

West Hudson County Trust Company

Harrison, New Jersey........................................... C 15,186 5,772,528 June 28, 1939 2,459,243

l West Hudson National Bank of Harrison

Kearny National Bank | Harrison, New Jersey

Kearny, New Jersey.............................................. A 13,469 3,091,595 June 28, 1939 570,349

Rardin State Bank

Rardin, Illinois........................................................ C 322 37,798 August 31, 1939 15,148

The Charleston National Bank

Charleston, Illinois

The Egg Harbor Commercial Bank

Egg Harbor City, New Jersey............................ C 4,167 864,567 October 9, 1939 752,773

Egg Harbor City Trust Company

Egg Harbor City, New Jersey

The Farmers State Bank

Cuba, Kansas.......................................................... C 398 93,775 November 27, 1939 20,376

Agenda State Bank

Agenda, Kansas

The Yonkers National Bank and Trust Company

Yonkers, New York............................................... A 20,627 8,848,501 December 4, 1939 2,768,667

Yonkers National Bank and Trust Company4

Yonkers, New York

1 AT ^ at,i?nal bank member of the Federal Reserve System; B~State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Reserve

bystem; M— Mutual savings bank not member of the Federal Reserve System.

2 Number of accounts and total deposits are as of date of examination prior to loan.

® Principal of loans and purchase price of assets as shown by books of FDIC, December 30, 1939. Does not include preliminary and field liquidation expenses, or advances

for the protection of assets, incident to the transaction.

4 Newly organized bank.

NOTE: For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

Back figures— See the following Annual Reports: 1938, p. 248; 1937, p. 180; 1936, p. 202.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 217

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Federal Reserve Bank of St. Louis
Table 163. A s s e t s PURCHASED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION TO FACILITATE COMPLETION OF LIQUIDATION OF

In s u r e d B a n k s in R e c e iv e r s h ip , 1939

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1939

Case

number Name and location

Class

of

bank1

Date of

Amount of deposits Assets purchased

suspension

Total Insured Date Amount

62 D’Auria Bank & Trust Company

C July 15, 1936

$2,563,779

1,117,196

$2,354,449

1,006,488 February 27, 1939

$112,307

57,201

31 Friendship State Bank

C December 7, 1935 125,302 118,093 June 30, 1939 1,931

1 0 Cliffside Park Title Guarantee & Trust Company

Grant wood, New Jersey.................................................................. C January 3, 1935 589,684 559,926 July 28, 1939 9,800

143 Margate Trust Company

Margate City, New Jersey............................................................. C April 2, 1938 367,005 353,513 November 20, 1939 36,375

1 1 0 The Raritan Trust Company

Perth Amboy, New Jersey.............................................................. B October 2, 1937 364,592 316,429 December 16, 1939 7,000

i b — State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Rererve System.

218 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
T ab le 164. List OF INSURED BANKS PLACED IN RECEIVERSHIP, 1939

Case

number

Name and location

Class

of

bank1

Year of

organization

Date of

suspension

Date of first payment

to depositors

by FDIC

Receiver

176 Oconto County State Bank, Oconto Falls, Wisconsin........................ C 1934 January 4, 1939 January 20, 1939 State banking authority

177 The First National Bank of Preston, Preston, Minnesota................ A 1902 January 5, 1939 January 26, 1939 FDIC

178 First State Bank, Elgin, Texas................................................................ C 1928 January 9, 1939 January 24, 1939 State banking authority

179 First State Bank, Marquez, Texas.......................................................... c 1906 January 16, 1939 January 27, 1939 State banking authority

180 Bank of Scranton, Scranton, North Dakota......................................... c 1909 January 16, 1939 January 27, 1939 FDIC

181 The Farmers Bank of Newtown, Newtown, Missouri........................ c 1919 February 2, 1939 February 16, 1939 State banking authority

182 Farmers State Bank in Merkel, Merkel, Texas................................... c 1930 February 3, 1939 February 15, 1939 State banking authority

183 The Coudersport Trust Company, Coudersport, Pennsylvania. . . . c 1904 February 4, 1939 February 20, 1939 State banking authority

184 The New Jersey Title Guarantee & Trust Co., Jersey City, N.J.... B 1888 February 11, 1939 February 23, 1939 State banking authority

185 The Bank of Rocky Hill, Rocky Hill, Kentucky................................. C 1903 March 4, 1939 March 29, 1939 State banking authority

186 The Point Pleasant National Bank, Point Pleasant, W . Va............. A 1900 March 7, 1939 March 27, 1939 FDIC

187 State Bank of Forestville, Forestville, Wisconsin............................... C 1909 March 8, 1939 March 27, 1939 State banking authority

188 The Fulton State Bank, Fulton, Indiana.............................................. C 1904 March 18, 1939 March 31, 1939 State banking authority

189 State Bank of Bremen, Bremen, North Dakota.................................. C 1909 March 18, 1939 March 31, 1939 FDIC

190 Merchants & Farmers Bank, Atkins, Arkansas.................................... C 1903 March 23, 1939 April 3, 1939 State banking authority

191 Bank of Amorita, Amorita, Oklahoma................................................... C 1901 April 6, 1939 April 18, 1939 FDIC

192 Tatum State Bank, Tatum, Texas.......................................................... c 1927 May 2, 1939 May 12, 1939 State banking authority

193 Ripley Savings Bank & Trust Co., Ripley, Tennessee....................... c 1903 April 28, 1939 May 16, 1939 State banking authority

194 The Parksley National Bank, Parksley, Virginia................................ A 1902 May 18, 1939 June 2, 1939 FDIC

195 Bank of Hartland, Hartland, Wisconsin................................................ C 1894 May 29, 1939 June 13, 1939 State banking authority

196 Glendive State Bank, Glendive, Montana............................................ C 1909 June 15, 1939 June 26, 1939 State banking authority

197 The Hamilton Trust Company of Paterson, Paterson, N. J............. B 1900 June 17, 1939 June 28, 1939 State banking authority

198 The Plantsville National Bank, Plantsville, Connecticut.................. A 1925 June 24, 1939 July 13, 1939 FDIC

199 Pleasantville Trust Company, Pleasantville, New Jersey................. C 1911 June 30, 1939 July 10, 1939 State banking authority

200 Providence Citizens Bank, Providence, Kentucky.............................. C 1920 September 1, 1939 September 18, 1939 State banking authority

201 The Farmers State Bank, Cato, Wisconsin........................................... C 1914 September 15, 1939 September 25, 1939 State banking authority

202 First State Bank of O’Fallon, O’Fallon, Illinois................................... B 1921 August 28, 1939 October 23, 1939 State banking authority

203 Security State Bank, Lawrence, Nebraska............................................ c 1914 October 3, 1939 November 2, 1939 State banking authority

204 Commercial Bank of Liberty, Liberty, Kentucky............................... c 1895 November 25, 1939 December 20, 1939 State banking authority

205 The State Bank of Liebenthal, Liebenthal, Kansas............................ c 1917 December 6, 1939 December 18, 1939 State banking authority

206 Maynardville State Bank, Maynardville, Tennessee.......................... c 1921 December 11, 1939 January 17, 1940 State banking authority

207 The Tuckerton Bank, Tuckerton, New Jersey..................................... c 1889 December 27, 1939 January 8, 1940 State banking authority

1 A— National bank member of the Federal Reserve System; B— State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Reserve

System. tO I—^

Back data— See the following Annual Reports: 1938, p. 250; 1937, p. 170; 1936, p. 193; 1935, p. 225. ZDSUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
Case

number

176

177

178

179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

toto

o

Table 165, ASSETS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1939

AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

Name and location

Total, 1934-1939 (207 banks)........................................................

Calendar year

1934 ( 9 banks).................................................................................

1935 (24 banks).................................................................................

1936 (42 banks).................................................................................

1937 (50 banks).................................................................................

1938 (50 banks).................................................................................

1939 (32 banks).................................................................................

1939

Oconto County State Bank, Oconto Falls, Wisconsin..............

The First National Bank of Preston, Preston, Minnesota. . . .

First State Bank, Elgin, Texas........................................................

First State Bank, Marquez, Texas.................................................

Bank of Scranton, Scranton, North Dakota................................

The Farmers Bank of Newtown, Newtown, Missouri..............

Farmers State Bank in Merkel, Merkel, Texas....................

The Coudersport Trust Company, Coudersport, Pennsylvania.

The New Jersey Title Guarantee & Trust Co., Jersey City, N . J

The Bank of Rocky Hill, Rocky Hill, Kentucky.......................

The Point Pleasant National Bank, Point Pleasant, W . V a .. .

State Bank of Forestville, Forestville, Wisconsin.......................

The Fulton State Bank, Fulton, Indiana.....................................

State Bank of Bremen, Bremen, North Dakota.........................

Merchants & Farmers Bank, Atkins, Arkansas..........................

Bank of Amorita, Amorita, Oklahoma..........................................

Tatum State Bank, Tatum, Texas.................................................

Ripley Savings Bank & Trust Co., Ripley, Tennessee.............

The Parksley National Bank, Parksley, Virginia.......................

Bank of Hartland, Hartland, Wisconsin.......................................

Total

$105,089,112

2,661,327

12,323,948

12,974,788

19,283,376

13,919,907

43,925,766

385,896

304,153

347,165

87,396

152,601

114,298

183,386

952,300

30,745.252

163,352

460,933

341,556

167,545

60,916

223,056

132,278

46,662

794,312

278,588

455,251

Cash and

due from

banks

United

States

Government

securities

$11,532,451

185,056

1,974,181

2,194,712

2,238,648

1,610,297

3,329,557

66,165

59,197

116,990

21,678

7,746

56,841

25,084

72,935

1,411,768

32,174

145,817

71,180

13,683

15,770

49,130

52,532

5,005

153,233

11,160

46,524

$5,001,851

603,519

698,440

902,215

1,293,683

451,570

1,052,424

15,495

25,450

350

12,500

30,216

63,505

497,906

15,900

32,225

1,600

3,160

10,100

12,000

18,425

129,042

Other

securities

Loans, discounts, and

overdrafts

Banking

house,

furniture

and fixtures

Other real

estate

Other

assets

$12,118,074 $54,147,787 $3,743,927 $11,282,013 $7,263,009

273,638

510,479

1,955,104

1,329,865

6,842,116

6,454,624

79,365

459,055

459,700

120,319

242,274

734,874

69,565

1,597,403

273,559

2,307,696

2,215,638

4,855,519

11,107,699

6,574,061

21,839,422

486,995

412,911

1,845,901

837,966

2,125,022

7,221,558

1,010,689

530,408

3,781,385

142,576

77,669

114,398

5,656

93

152,502

115,315

94,839

42,759

123,252

8,372

13,010

16,200

5,500

9,000

786

13,262

3,725

9,251

10,419

250

663

2,552

2,091

1,554

208

373,842

2,699,112

29,616

97,445

414,904

15,860,780

127,274

222,462

59,230

120,835

34,500

132,960

11,600

20,125

1,150

748,479

1,800

12,196

3,842

3,700

4,600

5,571

2,179

8,583

10,549

5,896,734

8

1,725

15,415

3,630,473

2,1C4

25,713

173,079

12,711

35,994

1,900

14,829

2,886

1,473

2,851

100

187

20,758 3,064

1,951

2,985

87,141

2,700

46,619

65,067

23,011

497,004

180,181

192,996

625 103

2,892

18,514

8,600

22,412

1,690

13,993

75,528

12,204

11,079

6,002

419

5,454

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
196

197

198

199

200

201

202

203

204

205

206

207

Glendive State Bank, Glendive, Montana...............................

The Hamilton Trust Company of Paterson, Paterson, N.J.

The Plantsville National Bank, Plantsville, Connecticut. ..

Pleasantville Trust Company, Pleasantville, New Jersey. ..

Providence Citizens Bank, Providence, Kentucky.................

The Farmers State Bank, Cato, Wisconsin.............................

First State Bank of O’Fallon, O’Fallon, Illinois.....................

Security State Bank, Lawrence, Nebraska..............................

Commercial Bank of Liberty, Liberty, Kentucky.................

The State Bank of Liebenthal, Liebenthal, Kansas...............

Maynardville State Bank, Maynardville, Tennessee.............

The Tuckerton Bank, Tuckerton, New Jersey.......................

162,102

3,734,288

380,181

1,116,010

306,46'i

97,181

50,001

121,341

547,756

59,993

218,224

735,326

25,139

367,424

96,456

144,149

76,639

14,944

4,859

18,832

22,326

14,523

43,989

65,665

24.000

77,200

15.000

24,00u

150

7,300

36,900

15,867 88,314 1,250 6,404 1,128

310,184 1,491,862 778,839 620,445 88,334

1,501 237,126 8,661 21,113 324

380,340 326,583 71,294 167,617 2,027

56,959 146,424 10,648 14,654 993

5,942 73,207 2,500 588

7,357 25,201 2,200 10,329 55

5,095 80,204 4,090 5,300 520

29,931 450,796 6,000 1,803

54,091

199,487

41,994

118,609

172,170

2,800

1,535

37,896

500 176

259,997 111

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subsequert to termination of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with

FDIC aid, see pages 78-79.

Back figures— See the following Annual Reports: 1938, p. 252; 1937, p. 172; 1936, p. 194; 1935, p. 226.

toK) SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Case

number

176

177

178

179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

Table 166, LIABILITIES OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1939

AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

Name and location

Total, 1934-1939 (207 banks)..............................................................

Calendar year

1934 ( 9 banks).......................................................................................

1935 (24 banks).......................................................................................

1936 (42 banks).......................................................................................

1937 (50 banks).......................................................................................

1938 (50 banks).......................................................................................

1939 (32 banks).......................................................................................

1939

Oconto County State Bank, Oconto Falls, Wisconsin.....................

The First National Bank of Preston, Preston, Minnesota.............

First State Bank, Elgin, Texas..............................................................

First State Bank, Marquez, Texas.......................................................

Bank of Scranton, Scranton, North Dakota......................................

The Farmers Bank of Newtown, Newtown, Missouri.....................

Farmers State Bank in Merkel, Merkel, Texas.................................

The Coudersport Trust Company, Coudersport, Pennsylvania. ..

The New Jersey Title Guarantee & Trust Co., Jersey City, N. J,

The Bank of Rocky Hill, Rocky Hill, Kentucky.............................

The Point Pleasant National Bank, Point Pleasant, W . Va..........

State Bank of Forestville, Forestville, Wisconsin.............................

The Fulton State Bank, Fulton, Indiana...........................................

State Bank of Bremen, Bremen, North Dakota...............................

Merchants & Farmers Bank, Atkins, Arkansas................................

Bank of Amorita, Amorita, Oklahoma.................................................

Tatum State Bank, Tatum, Texas.......................................................

Ripley Savings Bank & Trust Co., Ripley, Tennessee....................

The Parksley National Bank, Parksley, Virginia.............................

Bank of Hartland, Hartland, Wisconsin.............................................

Total

liabilities

$105,089,112

2,661,327

12,323,948

12,974,788

19,283,376

13,919,907

43,925,766

385,896

304,153

347,165

87,396

152,601

114,298

183,386

952,300

30,745,252

163,352

460,933

341,556

167,545

60,916

223,056

132,278

46,662

794,312

278,588

455,251

Total

deposits

$79,088,921

1,951,992

8,700,485

11,039,098

14,715,286

10,124,255

32,557,805

345,866

284,665

286,927

45,551

93,604

89,299

130,551

706,322

21,666,907

153,584

410,475

281,435

137,159

28,032

192,090

116,761

17,160

738,631

181,640

369,520

Other

liabilities,

secured

Other

liabilities,

unsecured

R. F. C.

capital

$7,630,818 $1,721,658 $5,159,146

77,630

1,826,850

46,618

27,333

285,036

47,077

90,000

223.000

788.000

1,004,807

1,211,407

3,463,506

127,951

1,947

1,232,314

755,250

1,052,900

2,249,996

499 218 5,000

15.000

35.000

10.000

20,000

2,414

6,521

3

44

79 25,000

100,000

1,732,496

2

3,400,743 1,172,969

11,500 364

40 20,000

15.000

15.000

15.000

33 10

10

4

53 7,500

50,0001,457

72

1

10,000

32

25.000

30.000

Private

capital

stock

$8,784,466

432,100

950,000

1,069,350

2,498,815

1,059,200

2,775,001

30.000

40.000

25.000

30.000

25.000

25.000

25.000

125,000

1,267,500

20.000

30.000

30.000

15.000

15.000

10.000

10,000

17,500

50.000

60.000

30,000

Other

capital

accounts1

$2,704,103

82,272

338,577

-15,355

181,267

470,198

1,647,144

4,313

-35,512

238

-572

7,432

-1

2,756

20,976

1,504,637

-10,232

8,594

10,081

343

2,874

5,962

5,517

4,449

-45,776

1,876

25,698

222 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
196

197

198

199

200

201

202

20B

204

205

206

207

Glendive State Bank, Glendive, Montana........ .......................

The Hamilton Trust Company of Paterson, Paterson, N. J,

The Plantsville National Bank, Plantsville, Connecticut. . .

Pleasantville Trust Company, Pleasantville, New Jersey. . .

Providence Citizens Bank, Providence, Kentucky.................

The Farmers State Bank, Cato, Wisconsin.............................

First State Bank of O’Fallon, O’Fallon, Illinois.....................

Security State Bank, Lawrence, Nebraska..............................

Commercial Bank of Liberty, Liberty, Kentucky.................

The State Bank of Liebenthal, Liebenthal, Kansas...............

Maynardville State Bank, Maynardville, Tennessee.............

The Tuckerton Bank, Tuckerton, New Jersey.......................

162,102

3,734,288

380,181

1,116,010

306,467

97,181

50,001

121,341

547,756

59,993

218,224

735,326

119,158

2,860,013

464,035

936,198

251,430

82,019

102,485

95,867

502,425

57,911

185,735

624,350

11,835

45

4,276

15,0006

602

22

56,587

138

163

31

25.000

50.000

20.000

10,000

25,000

30,000 12,922

575,001 230,852

25,000 -133,992

50,000 79,649

25,000 10,037

20,000 -4,883

25,000 -81,760

25,000 443

45,000 -14,669

10,000 -17,924

15,000 17,477

50,000 35,339

1 Includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books. Minus (-) indicates net operating deficit.

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subsequent to termination of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with

FDIC aid, see pages 78-79.

Back figures— See the following Annual Reports: 1938, p. 254; 1937, p. 174; 1936, p. 196; 1935, p. 227.

to to

COSUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
Case

number

176

177

178

179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

T ab le 167. DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1939

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1939

Name and location

Total, 1934-1939 (207 banks)............................................................

Calendar year

1934 ( 9 banks).....................................................................................

1935 (24 banks).....................................................................................

1936 (42 banks).....................................................................................

1937 (50 banks).....................................................................................

1938 (50 banks).....................................................................................

1939 (32 banks).....................................................................................

1939

Oconto County State Bank, Oconto Falls, Wisconsin...................

The First National Bank of Preston, Preston, Minnesota...........

First State Bank, Elgin, Texas............................................................

First State Bank, Marquez, Texas.....................................................

Bank of Scranton, Scranton, North Dakota....................................

The Farmers Bank of Newtown, Newtown, Missouri...................

Farmers State Bank in Merkel, Merkel, Texas..............................

The Coudersport Trust Company, Coudersport, Pennsylvania.

The New Jersey Title Guarantee & Trust Co., Jersey City, N. J

The Bank of Rocky Hill, Rocky Hill, Kentucky...........................

The Point Pleasant National Bank, Point Pleasant, W . Va.

State Bank of Forestville, Forestville, Wisconsin.........................

The Fulton State Bank, Fulton* Indiana........................................

State Bank of Bremen, Bremen, North Dakota...........................

Merchants & Farmers Bank, Atkins, Arkansas............................

Bank of Amorita, Amorita, Oklahoma............................................

Tatum State Bank, Tatum, Texas...................................................

Ripley Savings Bank & Trust Co., Ripley, Tennessee...............

The Parksley National Bank, Parksley, Virginia.........................

Bank of Hartland, Hartland, Wisconsin.........................................

Total1 Insured2

$80,107,656 $63,774,867

1,966,832

9,074,405

11,236,277

942,471

6,051,769

8,081,146

14,924,126

10,275,843

32,630,173

12,054,255

9,095,325

27,549,901

345,829

337,182

286,917

45,551

93,604

287,753

289,579

211,630

41,429

86,016

89,299

130,550

706,322

21,653,146

153,584

82,640

99,870

626,587

17,936,721

129,803

410,521

281,435

137,159

28,034

192,090

325,252

248,446

122,738

22,359

169,128

147,247

17,242

738,811

181,551

369,525

115,939

16,093

545,418

176,631

332,634

Secured and

preferred*

$3,782,270

755,533

466,250

634,756

1,154,908

332,765

438,058

25,394

10,594

37,475

271

24,909

145,228

133

46,998

13,135

10

3,520

8,766

15,177

......1

Subject to

offset

$4,146,609

94,719

557,742

618,455

1,066,846

486,598

1,322,249

30,823

22,696

37,812

4,122

7,298

6,492

5,771

9,644

630,163

15,727

28,951

11,860

10,963

5,675

11,882

8,463

1,149

84,168

4,920

15,231

Uninsured, unsecured, not preferred, and not subject to offset

In excess of

insurance

maximum

$7,322,059

102,785

1,990,048

1,059,477

620,010

229,941

3,319,798

1,859

14,313

19

70,091

2,941,034

7,921

9,320

7,994

3,448

7,560

14,079

94,048

‘ 21,659

Other4

$1,081,851

71,324

8,596

842,443

28,107

131,214

167

167

224 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
196

197

198

199

200

201

202

203

204

205

206

207

Glendive State Bank, Glendive, Montana...............................

The Hamilton Trust Company of Paterson, Paterson, N. J,

The Plantsville National Bank, Plantsville, Connecticut. . .

Pleasantville Trust Company, Pleasantville, New Jersey. . .

Providence Citizens Bank, Providence, Kentucky.................

The Farmers State Bank, Cato, Wisconsin.............................

First State Bank of O’Fallon, O’Fallon, Illinois.....................

Security State Bank, Lawrence, Nebraska..............................

Commercial Bank of Liberty, Liberty, Kentucky.................

The State Bank of Liebenthal, Liebenthal, Kansas...............

Maynardville State Bank, Maynardville, Tennessee.............

The Tuckerton Bank, Tuckerton, New Jersey.......................

119,158

2,860,013

464,035

936,507

251,430

84,952

101,984

96,106

502,150

57,911

185,735

624,593

104,773

2,601,636

417,491

895,238

222,070

71,603

77,461

80,219

388,690

56,033

156,153

611,868

5,437

76,620

5,880

110

11,520

6,880

177,661

35,362

40,853

21,921

4,992

1,825

4,367

46,162

1,878

12,332

12,153

15

4,096

11,182

416

1,559

8,247

22,698

’ 67,298 ’

10,370

572

1 The amount of deposits given in Table 167 does not agree with the amount shown in Table 166 due to the inclusion in Table 167 of deposits subsequently discovered or

reclassified.

2 Includes all deposits paid or to be paid by FDIC.

3 Includes only the portions of secured deposits met or to be met by sale of security and of preferred deposits paid by the receiver.

* Includes (a) deposits barred from insurance because not claimed before the expiration of the period set by law, (b) restricted and deferred deposits not eligible for insurance,

and (c) deposits made after termination of insured status in 1 bank which suspended after its insured status had been terminated.

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subsequent to termination of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with

FDIC aid, see pages 78-79.

Back figures— See the following Annual Reports: 1938, p. 256; 1937, p. 176; 1936, p. 198; 1935, p, 228.

to 

toOrSUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
Table 168. PAYMENTS TO DEPOSITORS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1939

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1939

Case

number

176

177

178

179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

Name and location

Total, 1934-1939 (207 banks)..........................................................

Calendar year

1934 ( 9 banks)...................................................................................

1935 (24 banks)...................................................................................

1936 (42 banks)...................................................................................

1937 (50 banks)...................................................................................

1938 (50 banks)...................................................................................

1939 (32 banks)...................................................................................

1939

Oconto County State Bank, Oconto Falls, Wisconsin................

The First National Bank of Preston, Preston, Minnesota.........

First State Bank, Elgin, Texas..........................................................

First State Bank, Marquez, Texas...................................................

Bank of Scranton, Scranton, North Dakota.................................

The Farmers Bank of Newtown, Newtown, Missouri................

Farmers State Bank in Merkel, Merkel, Texas............................

The Coudersport Trust Company, Coudersport, Pennsylvania.

The New Jersey Title Guarantee & Trust Co., Jersey City, N. J

The Bank of Rocky Hill, Rocky Hill, Kentucky.........................

The Point Pleasant National Bank, Point Pleasant, W . Va.. . .

State Bank of Forestville, Forestville, Wisconsin.........................

The Fulton State Bank, Fulton, Indiana.......................................

State Bank of Bremen, Bremen, North Dakota...........................

Merchants & Farmers Bank, Atkins, Arkansas............................

Bank of Amorita, Amorita, Oklahoma............................................

Tatum State Bank, Tatum, Texas...................................................

Ripley Savings Bank & Trust Co., Ripley, Tennessee...............

The Parksley National Bank, Parksley, Virginia.........................

Bank of Hartland, Hartland, Wisconsin.........................................

Number of depositors

Total

Eligible for insurance protection

Paid by

FDIC

Fully paid

by other

methods2

Unpaid

299,890 221,339 28,218 37,101

15,733 11,247 926 3,360

32,217 23,355 2,792 5,151

43,229 30,887 4,598 2,500

74,068 56,647 7,671 4,494

44,252 31,623 7,258 3,784

90,391 67,580 4,973 17,812

1,078 937 111 30

838 693 76 69

1,013 706 292 15

559 372 92 95

477 339 104 34

520 400 94

1,090 585 257 248

1,351 1,253 51 47

37,112 32,518 621 3,973

745 538 188 19

3,565 2,154 565 846

1,169 965 44 160

501 375 113 13

98 75 17 6

603 493 104 6

530 365 116 49

177 142 29 6

2,568 1,823 549 196

820 666 62 92

987 889 66 32

Not eligible

for

insurance

protection3

13,232

200

919

5,244

5,256

1,587

26

26

Insured deposits1

Total Paid Unpaid

$63,774,867 $60,981,222 $2,793,645

942,471

6,051,769

8,081,146

934,603

5,956,001

8,043,429

7,868

95,768

37,717

12,054,255

9,095,325

27,549,901

12,019,211

9,033,868

24,994,110

35,044

61,457

2,555,791

287,753

289,579

211,630

41,429

86,016

287,720

287,630

211,189

40,723

85,106

33

1,949

441

706

910

82,640

99,870

626,587

17,936,721

129,803

82,640

96,521

620,338

16,485,461

127,691

3,349

6,249

1,451,260

2,112

325,252

248,446

122,738

22,359

169,128

321,067

246,161

122,271

22,334

169,030

4,185

2,285

467

25

98

115,939

16,093

545,418

176,631

332,634

110,621

15,951

525,013

172,261

331,591

5,318

142

20,405

4,370

1,043

226 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
196

197

198

199

200

201

202

203

204

205

206

207

Glendive State Bank, Glendive, Montana...............................

The Hamilton Trust Company of Paterson, Paterson, N. J

The Plantsville National Bank, Plantsville, Connecticut. ..

Pleasantville Trust Company, Pleasantville, New Jersey. ..

Providence Citizens Bank, Providence, Kentucky.................

The Farmers State Bank, Cato, Wisconsin.............................

First State Bank of O’Fallon, O’Fallon, Illinois.....................

Security State Bank, Lawrence, Nebraska..............................

Commercial Bank of Liberty, Liberty, Kentucky.................

The State Bank of Liebenthal, Liebenthal, Kansas..............

Maynardville State Bank, Maynardville, Tennessee............

The Tuckerton Bank, Tuckerton, New Jersey.......................

393 264 48 81

19,204 13,504 339 5,361

1,786 1,377 176 233

4,780 3,621 340 819

1,545 1,137 184 224

251 207 43 1

434 284 1 1 139

583 357 126 1 0 0

2,997 466 1 2 2 2,409

183 75 33 75

744 744

1,690 1,690

104,773 102,445 2,328

2,601,636 2,565,956 35,680

417,491 384,192 33,299

895,238 887,355 7,883

222,070 221,667 403

71,603 71,598 5

77,461 68,582 8,879

80,219 79,541 678

388,690 221,192 167,498

56,033 30,263 25,770

156,153 156,153

611,868 611,868

1 Includes all deposits paid or to be paid by FDIC.

2 Includes all depositors whose claims have been fully paid by counterclaim, by sale of security, or directly by the receiver because of preferred status.

8 Includes (a) depositors holding deposits barred from insurance because not claimed before the expiration of the period set by law, (b) depositors holding only restricted and

deferred deposits not eligible for insurance, and (c) depositors holding only deposits made after termination of insured status in 1 bank which suspended after its insured

status had been terminated.

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subsequent to termination of its insued status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with

FDIC aid, see pages 78-79.

Back -See the following Annual Reports: 1938, p. 258; 1937, p. 178; 1936, p. 200; 1935, p. 229.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 227

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Federal Reserve Bank of St. Louis
ACTIONS BY THE CORPORATION ON APPLICATIONS FROM BANKS

Table 169. ACTIONS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION UPON APPLICATIONS FROM BANKS NOT MEMBERS OF

t h e F e d e r a l R e s e r v e S y ste m f o r A d m issio n t o In s u r a n c e , A p p r o v a l o f E s t a b lis h m e n t o f B r a n c h e s ,

a n d A p p r o v a l o f C h a n g e o f L o c a t io n o f B a n k in g O f f i c e s , A u g u s t 23, 1935, t o D e c e m b e r 31, 1939 N>

to

00

1935 1936 1937 1938 1939

ADMISSION TO i n s u r a n c e

Total number of applications acted upon................................................................................

Applications approved1 ......................................... .............................................................................

Banks opening or opening contemplated:

New banks without predecessors.................................................................................................

Successor to suspended insured bank.........................................................................................

Closed noninsured banks reopening............................................................................................

Banks replacing closed banks or branches but not successors thereto...............................

Banks operating but not insured at beginning of year, or successors to such banks:

Banks previously insured2 ..............................................................................................................

Banks operating without restrictions January 1, 1934, not previously insured..............

Banks opened for business since January 1, 1934...................................................................

Banks operating under restrictions3 ............................................................................................

Other financial institutions:

Trust company not engaged in deposit banking.....................................................................

Financial institutions becoming banks of deposit, or banks succeeding institutions not

engaged in deposit banking.......................................................................................................

Insured banks reorganizing or withdrawing from F. R. System:

Conversion of national to State banks.......................................................................................

State banks contemplating withdrawal from F. R. System.................................................

Reorganizations of insured banks not members of the F. R. System...............................

Applications approved but approval later rescinded4 ...........................................................

New banks without predecessors.....................................................................................................

Banks operating January 1, 1934, but not insured at beginning of year. ............................

Bank succeeding financial institution not engaged in deposit banking..................................

Insured banks reorganizing or withdrawing from F. R. System:

Conversion of national to State banks......................................................................................

State banks contemplating withdrawal from F. R. System.................................................

Reorganization of insured bank not a member of the F. R. System.................................

Applications disapproved..................................................................................................................

Banks opening or opening contemplated:

New banks without predecessors.................................................................................................

Closed noninsured banks reopening............................................................................................

Banks replacing closed banks.......................................................................................................

Banks operating but not insured at beginning of year, or successors to such banks:

Bank previously insured............. ....................................................................._..........................

Banks operating without restrictions January 1, 1934, not previously insured..............

Banks opened for business since January 1, 1934...................................................................

Banks operating under restrictions3 ............................................................................................

Other financial institutions:

Trust companies not engaged in deposit banking...................................................................

Financial institutions becoming banks of deposit, or banks succeeding institutions not

engaged in deposit banking.......................................................................................................

Insured banks reorganizing................................................................................................................

540

410

1101

6

21

14

81

17

22

58

23

51

24

6

2

1

106

40

9

4

1

25

75

45

15

’ 3

29

6

6

1

1

11

165

114

241

282

17

7

14

101

5

1

41

133

111

38

82

67

14

85

73

19

4

12

4

10

5

10

2

1

10

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Applications disapproved— classified by status of bank, December 31, 1939.............

Plans for organization or reorganization abandoned..................................................................

Banks discontinued operations.........................................................................................................

Banks opened or continued to operate without insurance........................................................

Banks approved for insurance in later years...............................................................................

ESTABLISHMENT OF BRANCHES

Total number of applications acted upon................................................................................

Applications approved1 ......................................................................................................................

To establish additional banking offices:

Establishment of de novo branches6 ..........................................................................................

Conversion of head offices into branches after relocation of banks..................................

To replace banks by branches:

Conversion of absorbed banks into branches...........................................................................

Replacement of closed or relocated banks................................................................................

To continue branches in operation:

Retention of branches in operation at time of admission to insurance or relocation. .

Retention of branches previously operated by absorbed or succeeded banks ................

Replacement of branches discontinued by other banks........................................................

Continuance in operation of branches not previously approved.........................................

Extension of full branch powers to teller’s windows or seasonal offices.............................

Applications approved but approval later rescinded4 ...........................................................

To establish additional banking offices:

Establishment of de novo branches............................................................................................

Conversion of head office into branch after relocation of bank...........................................

To replace banks by branches:

Conversion of absorbed banks into branches...........................................................................

Replacement of closed bank........................................................................................................

Applications disapproved.................................................................................................................

To establish additional banking offices:

Establishment of de novo branches............................................................................................

Conversion of head office into branch after relocation of bank...........................................

To replace banks by branches:

Conversion of absorbed bank into branch................................................................................

Replacement of closed banks.......................................................................................................

CHANGE OF LOCATION OF OFFICES

Applications approved

Banks......................................................................................................................................................

Branches.................................................................................................................................................

Application approved but approval later rescinded— branch...........................................

Applications disapproved— banks.................................................................................................

106 29 41 14 1 2 1 0

539 5 13 9 7 8

57 2 5 1 1

527 1 2 1 0 2 5 1

25 1 0 13 2

341 15 93 89 82 62

298 9 80 82 72 55

108 7 37 33 16 15

1 1 2 2 1 3 3

95 2 2 27 28 18

29 4 7 1 1 7

5 4 1

27 7 8 8 4

1 2 3 3 6

8 3 2 3

3 1 1 1

17 5 5 5 2

9 3 3 1 2

1 1

6 1 1 4

1 1

26 6 8 2 5 5

2 2 5 7 1 4 5

1 1

1 1

2 1 1

55 4 9 15 17 1 0

24 3 6 3 5 7

1 1

2 1 1

1 Includes applications disapproved but approved later in the same year.

2 1 of these banks withdrew from insurance at the close of the temporary funds, but immediately applied for readmission to insurance. In addition, the Corporation approved

1 application, not tabulated, from a bank which wished to retain its insured status when it reopened after starting voluntary liquidation.

* In some cases, restrictions were removed during the year prior to application for insurance. Most of the banks were restricted on January 1, 1934, but a few were placed

under restrictions during 1934.

4 In most of these cases approval was rescinded because of failure of bank to meet conditions required by the Corporation. In cases of banks members of the Federal Reserve

System applying for insurance as banks not members, the banks decided to continue as member?, and approval was rescinded in order to close each case.

8 Totals for the 5-year period are adjusted to eliminate banks disapproved more than once.

# Includes conversions or replacements of 4 cooperative banks and 1 trust company not included in FDIC tabulations of noninsured banks.

ACTIONS ON APPLICATIONS FROM BANKS 229

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Federal Reserve Bank of St. Louis
Table 170. ACTIONS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION ON APPLICATIONS REGARDING

C a p i t a l a n d O t h e r F in a n c ia l A d ju s tm e n ts , A u g u s t 23, 1935, t o D e c e m b e r 31, 1939

Number of applications Amounts involved in applications

Total 1935 1936 1937 1938 1939 Total 1935 1936 1937 1938 1939

TO APPROVE CAPITAL ADJUSTMENTS1

Applications approved in full

To retire:

Preferred capital obligations held by R FC........ 4,853

95

85

4

493

1 2

1,834

15

1,160

23

1,281

41

$55,782,169

2,096,547

537,270

8,958,250

5,744,107

17,545,280

3,029,845

1,016,405

2,309,650

1,376,200

219,001

63,406

(5)

(5)

16,456,006

762,094

50,625

697,500

475,000

2,035,500

$3,344,900

398,000

$17,291,224

231,200

76,600

3.130.345

2,779,055

4,605,130

1.624.345

127,155

677,250

70,000

$14,792,620

343,370

454,070

1,277,375

328,550

1,968,100

$9,525,129

578,600

6,600

1,899,670

258,100

2,616,500

6 8 , 0 0 0

398,800

819.000

905.000

54,295

$10,828,296

545,377

8 2 5 1

To reduce or cancel:

Preferred capital obligations held by RFC2. . . .

Preferred capital not held by RFC2 .....................

62

44

1

2

6

9

15

9

24

1 2

16

1 2

1.400.000

1.607.000

3,202,700

760,000

1,250,860

771,402

5,152,850

577.500

210,450

166.500

2 2 1 ,2 0 0

13,750

Common stock........................................................... 203 34 48 38 52 31

To sell additional capital: 3

Preferred capital obligations to R F C .................. 13 3 2 2 6

Preferred capital to others than RFC................. 37 4 8 3 13 9 235,000

323,700

15,000

45.000

323,200

165,000

150,956

32.000

(5)

(5)

3,646,674

288,500

Common stock........................................................... 51 8 1 2 1 1 1 1 9

To make miscellaneous capital adjustments:

To convert preferred capital not held by RFC

into common stock ............................................. 2 1 1 3 7 5 5

To pay cash premiums on preferred capital4. . .

To reduce surplus in connection with capital

reductions .......................................................

9 3 3 3

6 1 5 31,406

(5)

(5)

5,213,965

163,700

Applications approved in part

To retire:

Preferred capital obligations held by R .F .C .. .

Preferred capital not held by R .F.C...................

Applications disapproved or rescinded6

To retire:

Preferred capital obligations held by R .F .C .. .

Preferred capital not held by R .F.C...................

Common stock ........................................................

409

3

8 39 96

1

78 188

2

(5)

(5)

2,683,500

26,419

50,000

(5)

(5)

1,793,511

159,243

625

(5)

(5)

3,118,356

124,232

681

27

2

51

2

1

194

6

251

9

103

7

1

82

3

To reduce or cancel:

Preferred capital obligations held by R.F.C.2. .

Preferred capital not held by R .F.C. 2 ................

1 0 2 7 1 415.000

95,000

858.000

262,500 2 0 ,0 0 0

3 1 2 380.000

Common stock ........................................................ 40 8 15 5 8 4 690.000 182,500 2 0 0 ,0 0 0 105,000

FEDERAL DEPOSIT INSURANCE CORPORATION

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To sell additional capital:3

Preferred capital obligations to R .F .C...............

Preferred capital to others than R .F .C..............

Common stock..........................................................

To make miscellaneous capital adjustments:

To convert preferred capital not held by R.F.C.

into common stock...............................................

To pay cash premiums on preferred capital4. . .

To reduce surplus in connection with capital

reductions...............................................................

TO APPROVE OTHER FINANCIAL

ADJUSTMENTS7

Applications approved

To repay or release restricted deposits:

To repay waived deposits or certificates of beneficial interest..........................................................

To release restricted or subordinated deposits. .

To release directors’ guaranty..................................

To repay stockholders’ contributions......................

To assume liabilities or purchase assets of noninsured institutions:

Of noninsured banks...............................................

Of other financial institutions...............................

Of closed banks.........................................................

Applications disapproved

To repay or release restricted deposits:

To repay waived deposits or certificates of beneficial interest ..........................................................

To release restricted or subordinated deposits. .

To release directors’ guaranty..................................

To repay stockholders’ contributions......................

To assume liabilities or purchase assets of noninsured banks............................................................

5 1 2 2 125.000 210.000

277.000

210.000 

63,319

2,000

7,228,243

4,039,127

2,011,609

330,250

20,000 30,000 75.000 20.000 

40,000

7 1 4 2 25.000 10.000

170,000

15,819

165,000

97.000

20.000

11 1 5 3 2 130,000

5 2 2 1 20,000 2 1 1 47,500

1 1 2,000

1,137,352

1,534,705

150,500

37,500

232

46

6720 13021 15

4

13 7

1

3,090,134

2,389,422

828,984

127,972

1,655,950

90,000

482,125

94,328

1,075,300 269,507

25,000

105,800

11,950

43

19

4

2

14

7

13

4

8

3

4

3

444,200

58,500

45 2 18 12 7 6

6 2 2 2

5 1 2 2

10 1 6 2 1 1,082,231

236,757

171,388

159,655

41,500

72,120

50.000

119,216

15.000

503,600

8,300

335,123 6 1 2 2 1 18,802

212,700 20,000

10 1 7 2 373,416

4 1 1 2 185,000 150,000

1 1

1 The number of banks submitting these applications was 2,857, of which 2,854 applied for retirement or reduction of capital. Many banks applied for approval of more

than one type of adjustment, or made more than one application during the period.

2 To reduce par but not retirable value.

* Includes cases in which capital issues were to be sold for more than their par value and premiums transferred to surplus or undivided profits accounts.

4 These premiums represent retirable value of preferred stock not carried on books.

5 Portions approved are included with applications approved in full; portions disapproved with applications disapproved or rescinded.

8 Includes applications first approved and later rescinded in full, not included as approved.

7 The number of banks submitting these applications was 342. Some banks applied for approval of more than one type of adjustment, or made more than one application

during the period.

to00ACTIONS ON APPLICATIONS FROM BANKS

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INDEX

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INDEX

Absorptions, consolidations, and mergers (see also Mergers of insured banks

with financial aid of the Corporation; Terminations of insurance) *

Of insured banks, 1934-39......................................................................................... 82-87

Of noninsured institutions by or with insured banks.....................................29, 231

Of operating banks, 1939............................................................................................ 88

Actions of Federal Deposit Insurance Corporation. See Federal Deposit

Insurance Corporation.

Adjusted capital account. See Capital of banks, net sound capital.

Adjusted value of assets. See Appraised value of assets.

Administrative expenses of Federal Deposit Insurance Corporation........... 34, 35, 36

Admissions to insurance:

Applications approved and disapproved.......................................................24, 228-29

By class of bank................................................................................................ 22-23, 82-87

By years, 1934-39.......................................................................................................... 82-87

Factors considered in the approval of banks for insurance.......................... 23

Number during 1939.................................................................................................... 89

Of banks in conservatorship or operating under restrictions, January 1,

1934................................................................................................................... 22, 23

Policy of Corporation regarding.............................................................................. 23

Under the temporary funds..........................................................................22, 23, 82-87

Amendments to deposit insurance law...........................................................................30, 65

Applications from banks:

For admission to insurance................................................................................24, 228-29

For approval of assumption of deposit liabilities of other banks.............. 29, 231

For approval of change of location........................................................................29, 229

For approval of establishment of branches..................................................28-29, 229

For approval of repayment or release of restricted, subordinated, or

waived deposits............................................................................................ 231

For approval of capital retirement or reduction................................ 26-28, 230-31

For loans to facilitate mergers................................................................................. 19

Appraised value of assets:

Defined.............................................................................................................................. 74

Of insured banks. See Assets of insured banks, examiners’ analysis of.

Assessments:

Adequacy of..................................................................................................................... 10

Rate and amount............................................................................................. 10, 34, 35, 36

Regulation regarding................................................................................................... 29

Assets and liabilities of closed banks. See Receivership, insured banks

placed in.

Assets and liabilities of operating banks (see also Assets of insured banks,

examiners’ analysis of; Capital of banks; Deposits; Fixed and

miscellaneous assets; Loans of insured commercial banks;

Securities):

All banks, 1935-39......................................................................................................... 124

All commercial banks, 1935-39................................................................................ 125

All insured banks, 1935-39......................................................................................... 124

Insured commercial banks:

Call dates, 1935-39.............................................................................................. 128-31

Changes during 1934-39..................................................................................... 44-46

Changes during 1939........................................................................................... 46

December 31, 1935, to December 30, 1939................................................ 126

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Assets and liabilities of operating banks ( see also Assets of insured banks,

examiners’ analysis of; Capital of banks; Deposits; Fixed and

miscellaneous assets; Loans of insured commercial banks;

Securities):— Continued.

Insured commercial banks not members of the Federal Reserve System:

236 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Average at call dates during 1939.............................................................193, 195

Averages, 1935-39................................................................................................ 191

Averages per bank, December 30,193 9....................................................... 140-41

Call dates, 1935-39.............................................................................................. 134-37

Grouped by amount of deposits, December 30, 1939............................138-39

Grouped by population of center in which located................................ 199

Grouped by rate of interest paid on deposits............................................ 203

Grouped by rate of net earnings on total assets...................................... 201

Percentage distribution............................................................................ 142-43, 197

Mutual savings banks...............................................................................................125, 127

Noninsured banks.......................................................................................................125, 126

Sources of data...............................................................................................................73, 77

Assets and liabilities of the Federal Deposit Insurance Corporation................ 38-40

Assets of insured banks, examiners’ analysis of (see also Fixed and miscellaneous assets; Fixed and substandard assets ratio; Loans of insured commercial banks; Securities):

Definition of terms used............................................................................................ 74-76

Insured commercial banks, 1939:

Appraised and book values, deductions (net), substandard assets,

and assets not criticized (banks grouped by net sound capital

ratio, fixed and substandard assets ratio, rate of average net

earnings, amount of deposits, FDIC district, and State) 158-61,166-69

Discussion and summary.................................................................................. 46-48

Ratios of appraised value to book value......................46-47, 162-65, 170-73

Insured commercial banks not members of the Federal Reserve System,

1933-39:

Proportion of assets criticized......................................................................... 48-49

Ratios of appraised value to book value............................................. 49, 177-79

Sources of data............................................................................................................... 74

Assets of banks purchased by Federal Deposit Insurance Corporation. See

Bank assets purchased by the Corporation.

Assets of insured banks, quality of (see also Assets of insured banks, examiners’

analysis of):

Assets charged off, 1934-39....................................................................................... 48, 56

During 1939..................................................................................................................... 46-48

Improvement since 1933..........................................................................................3, 48-49

Policy of Corporation regarding.............................................................................. 13-14

Purposes of supervisory rules regarding............................................................... 13-14

Relation to adequacy of capital accounts............................................................ 13

Balance sheet of the Federal Deposit Insurance Corporation.............................. 38-40

Bank assets purchased by the Corporation:

From banks in receivership to facilitate liquidation................................21, 38, 218

From banks merged with financial aid of the Corporation. See Mergers

of insured banks with financial aid of the Corporation.

Bankers’ directories, data obtained from......................................................................71, 73

Bank examination. See Examination of banks.

Banking offices, number of. See Number of operating banking offices.

Banking offices, establishment of:

Banks beginning operations:

By class, 1939........................................................................................................ 88

Insured banks, 1934-39...................................................................................... 82-87

Opened since August 23, 1935, and operating December 31, 1939.. 24

Banks opened, or opening contemplated, approved for insurance............24, 228

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Banking offices, establishment of:— Continued.

Branches, establishment approved by Corporation.................................. 28-29,229

Branches opened............................................................................................................ 88

Policy of Corporation regarding.............................................................................. 28

State legislation, 1939, regarding.............................................................................. 32

Banking practices. See Bank supervision; Unsafe and unsound banking

practices.

Bank management. See Management of banks, quality of.

Bank supervision (see also Examinations of banks; Federal Deposit Insurance

Corporation):

Development of standards and procedures......................................................... 10-12

Objectives and standards of......................................................................... 12, 13, 14-15

State legislation regarding during 1939................................................................ 32

Banks beginning operations. See Banking offices, establishment of.

Banks ceasing operations:

By class of bank, 1939................................................................................................ 88

Insured banks, by class, 1934-39............................................................................. 82-87

Banks operating branches. See Banking offices, establishment of; Number of

banks operating branches; Reports from banks.

Board of Directors of the Federal Deposit Insurance Corporation.................... 5, 33

Board of Governors of the Federal Reserve System:

Data obtained from................................................................................................. 71, 73, 76

Examination by Corporation of banks under jurisdiction of....................... 24-25

Review of examination reports submitted b y.................................................... 71

Branches. See Banking offices, establishment of; Classification of banks and

banking offices; Number of banks operating branches; Number

of branches.

Capital of banks (see also Assets and liabilities of operating banks; Earnings,

expenses, and disposition of profits of insured banks; Reconstruction Finance Corporation investment in banks):

Examiners’ analysis of:

Insured commercial banks, 1939......................................................49-50, 150-57

Insured commercial banks not members of the Federal Reserve

System, 1933-39...........................................................................................51, 176

Net sound capital:

Amount, banks examined in 1939......................................... 49, 150-51, 154-55

Definition................................................................................................................ 75

Improvement in insured banks since 1933................................................. 3, 51

Of banks grouped by fixed and substandard assets ratio, rate of

average net earnings, amount of deposits, FDIC district, and

State.................................................................................................................150-57

Policy of Corporation regarding..................................................................... 12-13

Net sound capital ratios to assets, insured commercial banks grouped by,

1939 *

Deposits of..............................................................................................................50, 175

Examiners’ analysis o f.......................................................................150-53, 158-65

Number o f...........................................................................................4, 12, 49-50, 174

Net sound capital ratios, insured commercial banks not members of the

Federal Reserve System, 1933-39:

Ratios to assets, deposits, and total capital accounts, banks grouped

by amount of deposits............................................................................... 176

Ratios to deposits, percentage distribution of banks grouped b y . . . . 51

Of banks approved for insurance. . . . .................................................................. 13, 23

Of insured banks placed in receivership................................................................ 222

Of noninsured banks..................................................................................................... 23

Policy of Corporation regarding..............................................................................12, 14

Private capital..............................................................................3, 12, 28, 49, 75,150-57

Reductions and retirements approved by the Corporation............26-28, 230-31

Relation of capital to assets, changes since 1896.............................................. 12

Retirements, amounts of.......................................................................191, 193,195,205

INDEX 237

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Capital of banks ( see also Assets and liabilities of operating banks; Earnings,

expenses, and disposition of profits of insured banks; Reconstruction Finance Corporation investment in banks)‘.-Continued.

State legislation regarding during 1939................................................................ 32

Supplied by the Reconstruction Finance Corporation. .3,12, 27, 49, 50, 144-49

Total capital accounts of insured commercial banks:

Adequacy of............................................................................................................ 13

Amount, banks examined in 1939.................................................150-51, 154-55

Amount, call dates, 1935-39.......................................................................... 131

Changes during 1934-39..................................................................................... 45, 46

Definition................................................................................................................. 75

Total capital accounts of insured commercial banks not members of the

Federal Reserve System:

Amount, call dates, 1935-39............................................................................ 137

Amount, December 30, 1939, banks grouped by amount of deposits 139

Average per bank, December 30, 1939, banks grouped by amount

of deposits...................................................................................................... 141

Averages of three call dates, 1939......................... 193, 195, 197, 199, 201, 203

Percentages of total liabilities and capital accounts, Dec. 30, 1939 143

Unsafe and unsound practices............................... ..................................................26, 27

Capital of Federal Deposit Insurance Corporation.........................................4, 38-39, 40

Cash depositories.................................................................................................................... 24, 71

Cash held by banks (see also Assets and liabilities of operating banks)........... 45

Chartering of banks...............................................................................................................23, 24

Civil Service extended to employees of the Corporation........................................ 34

Classification of banks and banking offices...................................................... 71-72, 80-81

Closed banks. See Receivership, insured banks placed in; Suspensions.

Commercial banks. See Assets and liabilities of operating banks; Capital of

banks; Deposits; Earnings, expenses, and disposition of profits

of insured banks; Number of operating banks.

Commercial banking offices. See Number of operating banking offices.

Comptroller of the Currency:

Chartering of new national banks.......................................................................... 23

Data obtained from.........................................................................................71, 73, 74, 76

Director of Corporation.............................................................................................. 33

Examination by Corporation of banks under jurisdiction of....................... 24-25

Review of bank examinations made b y................................................................25, 71

Consolidations. See Absorptions, consolidations, and mergers.

Credit, extension of by banks, policy of Corporation regarding.....................13-14, 15

Demand deposits. See Assets and liabilities of operating banks.

Depositors’ claims against closed insured banks. See Receivership, insured

banks placed in.

Depositors, number protected by the Corporation in banks in financial

difficulties (see also Mergers of insured banks with financial

aid of the Corporation; Receivership, insured banks placed in) 4 ,1 5,16

Deposits:

Adjusted...................................................................................................75, 150-51, 154-55

Assumption of by other banks................................................................................ 29, 231

Claims barred................................................................................................................ 16, 18

Classified by type of deposit. See Assets and liabilities of operating

banks.

Definition, for assessment purposes....................................................................... 73

Demand. See Assets and liabilities of operating banks.

Insured. See Insured and otherwise protected deposits.

Interbank. See Assets and liabilities of operating banks.

Interest on. See Interest.

238 FEDERAL DEPOSIT INSURANCE CORPORATION

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INDEX 239

D ep osi ts:— C on tinu ed.

Of all banking offices, June 30, 1939......................................................................112-13

Of all banks, June 3 0 ,1 9 3 9 .................................................................................... 114, 116

Of all commercial banks, June 30,1939................................................................114-21

Of all insured banks, June 30, 1939.....................................................................114, 116

Of all banks grouped by:

Amount of deposits (see also Assets and liabilities of operating banks) 114

Class of bank..........................................................................................................114-17

States and possessions........................................................................................116-17

Of all mutual savings banks..................................................114, 116-17, 122-23, 125

Of all offices of banks operating branches........................................................... 113

Of banks having inadequate capital................................................................. 12, 49-50

Of banks merged with aid of loans or purchase of assets by the Corporation..................................................................... 19, 20, 208-09, 213, 216-17

Of banks operating branches.................................................................................113, 115

Of banks receiving financial aid from Corporation 1934-39

................................................................................ 4, 15-16, 17, 210-11, 214-15

Of branches...................................................................................................................... 113

Of head offices of banks operating branches....................................................... 113

Of insolvent or hazardous banks suspended or merged. 15-16,17, 210-11, 214-15

Of insured banks in receivership..............................................16, 18, 206-07, 222-25

Of insured commercial banks:

At time of examination, 1939............................................... 150-51, 154-55, 175

Banks grouped by capital ratios.................................................................... 150

Banks grouped by average earnings............................................................. 151

Banks grouped by FDIC district and State..............................................154-55

Banks grouped by fixed and substandard asset ratios, examination

in 1939.............................................................................................................47, 150

Banks grouped by amount of deposits........................................................ 151

Call dates, 1935-39.............................................................................................. 130

Change during 1934-39....................................................................................... 45, 46

Change during 1939............................................................................................ 46

December 31, 1935, to December 30, 1939................................................ 126

Examiners’ analysis of................................................................75, 150-51, 154-55

June 30, 1939......................................................................................................... 114-21

Of insured commercial banks not members Federal Reserve System:

Call dates, 1935-39.............................................................................................. 136

December 30, 1939, grouped by amount of deposits.................139, 141, 143

June 30, 1939......................................................................................................... 114-17

Of insured mutual savings banks:

December 31, 1935, to December 30, 1939........... .................................... 127

December 31, 1939.............................................................................................. 58

June 30, 1939.........................................................................................114-17, 122-23

Of noninsured banks:

December 31, 1935, to December 30, 1939...................................125, 126, 127

June 30, 1939......................................................................................................... 114-23

Of suspended banks (see also Receivership, insured banks placed in)

................................................................................................ 206-07, 212, 222-23

Of unit banks............................................................................................................... 112, 114

Paid and unpaid in closed insured banks.....................................................17, 226-27

Payments of, to insured depositors. See Receivership, insured banks

placed in.

Postal savings deposits. See Assets and liabilities of operating banks.

Preferred. See Deposits, secured and preferred.

Protected by the Corporation. See Insured or otherwise protected

deposits.

Public funds (see also Assets and liabilities of operating banks)................31, 67

Secured and preferred:

Insured banks placed in receivership.............................................15, 17, 224-25

Insured commercial banks................................................................................ 131

Insured commercial banks not members Federal Reserve System. .. 137

Sources of data............................................................................................................... 73

Subject to offset. See Receivership, insured banks placed in.

Time and savings deposits:

Amount. See Assets and liabilities of operating banks.

Interest paid on (see also Earnings, expenses, and disposition of

profits of insured banks).....................................................................53, 54, 77

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Disposition of profits. See Earnings, expenses, and disposition of profits of

insured banks.

Dividends:

State legislation regarding payment of, during 1939....................................... 32

To depositors in mutual savings banks............................................................... 205

To stockholders of operating insured banks. See Earnings, expenses,

and disposition of profits of insured banks.

Double liability. See Stockholders of banks.

Earnings, expenses, and disposition of profits of insured banks:

Amounts, insured commercial banks:

Banks grouped by class..................................................................................... 182-83

By years, with ratios to total assets, 1935-39....................................52, 180-81

Amounts, insured commercial banks not members of the Federal Reserve

System:

Averages per bank, banks grouped by amount of deposits.................194-95

Banks grouped by amount of deposits.........................................................192-93

By years, with ratios to total assets, 1935-39..........................................190-91

Amounts, insured mutual savings banks, 1935-39...........................................204-05

Discussion, insured commercial banks.................................................................. 51-57

Distribution of insured commercial banks according to:

Rate of income received on loans................................................................. 187-88

Rate of interest paid on time and savings deposits, and other

characteristics...............................................................................................188-89

Rate of net current operating earnings on total assets, and other

characteristics.....................................................................................184, 186-88

Rate of net earnings and of net profits on total capital accounts,

1938 and 1939 .............................................................................................. 57

Rate of net profits on total assets and other characteristics.............. 185-86

Interest received and paid by insured commercial banks............................. 52-55

Rate of income on loans, relation to size and character of loan................ 52-54

Rate of net earnings, relation to net profits........................................... .55, 57, 186

Rates of net earnings, net profits, and dividends, insured commercial

banks, 1934-39.............................................................................................. 55

Ratios, insured commercial banks not members of the Federal Reserve

System:

Banks grouped by amount of deposits........................................................ 196-97

Banks grouped by population of center in which located....................198-99

Banks grouped by rate of interest paid on time and savings deposits. 202-03

Banks grouped by rate of net earnings....................................................... 200-01

To gross earnings, total assets, and total capital accounts................ 196-203

Sources, number of banks reporting, and adjustment of data............... 71, 76-78

Employees, Federal Deposit Insurance Corporation.............................................5, 33-34

Employees of insured banks, number of.............................181, 183, 191, 193, 195, 205

Examiners (see also Employees, Federal Deposit Insurance Corporation):

Analysis of insured banks b y....................................................... 46-51, 74-76, 150-79

Selection of by Corporation....................................................................................... 34

Examinations of banks (see also Assets of insured banks, examiners’ analysis

of; Capital of banks; Examiners):

Banks cited for unsafe and unsound practices................................................... 24-26

Definition of terms........................................................................................................ 74-76

Development of uniform examination procedure.............................................. 74

During the temporary funds.....................................................................................10, 24

Examination by Federal Deposit Insurance Corporation of banks under

jurisdiction of other Federal agencies................................................. 24-25

In connection with loans and purchase of assets of insured banks........... 25

Number by Federal Deposit Insurance Corporation, 1933-39................... 24

Purposes of....................................................................................................................... 24-25

Review of examinations made by Comptroller of Currency and Federal

Reserve banks.............................................................................................. 25, 71

State legislation regarding during 1939................................................................ 31, 32

Tabulation of................................................................................................................... 74

240 FEDERAL DEPOSIT INSURANCE CORPORATION

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INDEX 241

Page

Executive Orders. See Civil Service extended to employees of the Corporation.

Expenses of banks. See Earnings, expenses, and disposition of profits of insured banks.

Expenses of the Federal Deposit Insurance Corporation. .. .4, 15, 16, 22, 34-35, 36

Failures. See Receivership, insured banks placed in; Suspensions.

Federal Deposit Insurance Corporation:

Actions on applications from banks. See Applications from banks.

Audit............................................................................................. ............................... 35, 37-39

Balance sheet..............................................................................................................38-39, 40

Bank supervision, policies regarding..................................................................... 14-15

Board of Directors........................................................................................................ 5, 33

Capital and surplus............................................................................................ 4, 38-39, 40

Citations of banks for unsafe or unsound banking practices, and violations of law or regulations....................................................................... 25-27

Civil Service extended to employees..................................................................... 34

Coordination of supervisory standards and procedures.....................10, 11-12, 14

Districts............................................................................................................................ 76

Divisions and committees.......................................................................................... 33

Employees.....................................................................................................................5, 33-34

Examiners, selection of................................................................................................ 34

Examination of banks (see also Examinations of banks)............. 10, 11, 24-25, 31

Financial resources of................................................................................................4,10, 39

Income and expenses.............................................................................................. 34-35, 36

Insured banks receiving financial aid from, 1934-39....................9, 15-22, 210-11

Investments............................................................................................................... 34, 38, 40

Legislation affecting..................................................................................................... 30-32

Liquidating agent for insured banks, appointment as..................................... 21, 32

Loans to and purchase of assets from insured banks........................ 18-19, 21-22,

25-26, 208-09, 213

Losses incurred........................................................................................ 4, 9, 15, 16, 34, 35

Officers............................................................................................................................... 5, 33

Operations........................................................................................................................ 15-39

Organization and staff..............................................................................................5, 33-34

Payments to insured depositors....................................................4, 15, 16-18, 226-27

Policies............................................................................................................................... 9-15

Powers................................................................. ............... ; .......... .............................4, 10-11

Purchase of assets to facilitate completion of liquidation of banks in

receivership...................................................................................................21, 218

Purposes of deposit insurance.................................................................................. 9

Receiver for insured banks, appointment as..............................................21, 32, 219

Recoveries on subrogated claims of insured depositors.............................19-22, 35

Regulations and rulings.................................................................................. 29-30, 67-68

Supervisory activities................................................................................. 4, 10-12, 22-30

Federal Reserve banks:

Data obtained from...................................................................................................... 74

Deposits of foreign banks with................................................................................ 45

Review of bank examinations made b y................................................................ 24-25

Federal Reserve System, membership in, deposit insurance law amended. . . 65

Fixed and miscellaneous assets, examiners’ analysis of:

Insured commercial banks, 1939.................... 47, 160-61, 164-65, 168-69, 172-73

Insured commercial banks not members of the Federal Reserve System

........................................................................................................................... 49,179

Fixed and substandard assets ratio (see also Assets of insured banks, examiners’ analysis of; Capital of banks):

Distribution of number and deposits of banks according to .............. 47, 174, 175

Significance o f............................................................................................................13, 47-48

Hazardous banks. See Insolvent or hazardous insured banks; Weak or

hazardous banks.

Head offices of branch systems. See Number of banks operating branches.

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242 FEDERAL DEPOSIT INSURANCE CORPORATION

Industrial banks, State legislation regarding during 1939...................................... 32

Insolvent or hazardous insured banks (see also Mergers of insured banks

with financial aid of the Corporation; Receivership, insured

banks placed in; Suspensions):

Operating at close of 1939......................................................................................... 4, 12

Placed in receivership or merged with financial aid of the Corporation:

Depositors, number of, fully protected, partially protected, and

unprotected................................................................................................... 16

Deposits, protected and unprotected............................................................ 16

Number and deposits of:

1934-39, by class of bank, year, amount of deposits, and State. .210-11

1939, by class of bank, amount of deposits, and State................214-15

Disbursements by Corporation in connection with.............................4, 16, 17

Losses by depositors in ...................................................................................4, 15, 16

Losses and nonrecoverable expenses in connection therewith, by

Corporation......................................................................... 4, 15, 16, 35, 36, 39

State legislation, 1939, regarding............................................................................ 32

Insured banks. See:

Absorptions, consolidations, and mergers;

Admissions to insurance;

Assets and liabilities of operating banks;

Assets of insured banks, examiners’ analysis of;

Banking offices, establishment of;

Capital of banks;

Classification of banks and banking offices;

Deposits;

Earnings, expenses, and disposition of profits;

Examinations of banks;

Loans of insured commercial banks;

Management of banks, quality of;

Mergers of insured banks with financial aid of the Corporation;

Mutual savings banks;

Number of banks operating branches;

Number of branches;

Number of operating banking offices;

Number of operating banks;

Receivership, insured banks placed in;

Regulations and rulings;

Securities;

Suspensions;

Terminations of insurance;

Unsafe and unsound banking practices;

Weak or hazardous banks.

Insured commercial banks not members of the Federal Reserve System.

See Insured banks.

Insured and otherwise protected deposits:

Of insured banks suspended or merged with financial aid of the Corporation.......................................................................................................................... 4, 15-20

Of insured banks placed in receivership......................................... 16-18, 20, 224-27

Of operating banks....................................................................................................... 19-20

Regulation regarding determination o f.....................................................29-30, 67-68

Insured mutual savings banks. See Mutual savings banks.

Insured State banks members of the Federal Reserve System. See Insured

banks.

Interbank deposits. See Assets and liabilities of operating banks.

Interest (see also Earnings, expenses, and disposition of profits of insured

banks):

On deposits:

Rate of.......................................................................................53, 54, 188-89, 202-03

Regulation of Corporation regarding............................................................29, 31

State legislation regarding during 1939....................................................... 31, 32

On loans and securities, rate of, 1934-39............................................................. 52-53

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Interest ( see also Earnings, expenses, and disposition of profits of insured

banks):— Continued.

On loans:

Distribution of banks by rate o f................................................................. 187, 188

Relation to size and character of loans....................................................... 52-54

Investments of banks. See Assets and liabilities of operating banks; Securities; State legislation regarding deposit insurance and bank

supervision; Unsafe and unsound banking practices.

Investments of the Federal Deposit Insurance Corporation........................... 34, 38, 40

Law, deposit insurance, amendment o f......................................................................... 30, 65

Legislation regarding deposit insurance and bank supervision.......................30-32, 65

Liquidation, banks placed in (see also Terminations of insurance):

Number.............................................................................................................................. 88

With Corporation liquidating agent....................................................................... 21

Loans of insured commercial banks (see also Assets and liabilities of operating

banks; Assets of insured banks, examiners’ analysis of; Earnings, expenses, and disposition of profits of insured banks;

Unsafe and unsound banking practices):

Changes during 1934-39.............................................................................................. 45-46

Examiners’ analysis, all insured commercial banks:

Appraised and book values, deductions (net), substandard, and not

criticized..................................................................................47, 160-61, 168-69

Ratios of appraised value to book value.............................47, 164-65, 172-73

Examiners’ analysis, banks not members of the Federal Reserve

System...................................................................................................49, 178, 179

Policy of Corporation regarding.............................................................................. 13-14

Rate of income on and proportion to total assets...........................52-54, 187, 188

Types of....................................................................................................................... 46, 53-54

Loans to insolvent or hazardous insured banks by Federal Deposit Insurance

Corporation. See Mergers of insured banks with financial

aid of the Corporation.

Location of insured banks, changes approved by Corporation............................29, 229

Losses of insured banks. See Earnings, expenses, and disposition of profits of

insured banks.

Losses of the Federal Deposit Insurance Corporation:

During 1939..................................................................................................................... 16, 35

During six years of deposit insurance................................................. 4, 10, 15, 16, 35

Estimated future losses............................................................................................... 4

Losses sustained by banking system prior to deposit insurance......................... 4, 10

Management of banks, quality of:

Banks cited for unsafe and unsound banking practices.................................26, 27

Considered as a factor in approval of banks for insurance........................... 23

Relation to capital........................................................................................................ 13

Relation to quality of bank assets......................................................................... 15

Relation to sound banking structure.................................................. .................. 9, 15

Mergers. See Absorptions, consolidations, and mergers; Mergers of insured

banks with financial aid of the Corporation.

Mergers of insured banks with financial aid of the Corporation:

Action of Corporation on applications.................................................................. 19

Amounts disbursed by Corporation.................................................15, 17, 19, 216-17

Amounts of loans and assets purchased, held by the Corporation............38, 40

Banks cited for unsafe and unsound practices.................................................. 25-26

Classification of banks................................................................................................ 78-79

Deposits protected.....................................................................................................9, 19, 20

Losses incurred by Corporation.............................................................................. 9

Names and location of banks merged...................................................................216-17

Number and deposits of banks merged.......................................18-19, 208-09, 213

Number of depositors in banks merged................................................................ 18-19

Policy of Corporation regarding.............................................................................. 9

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Mergers of insured banks with financial aid of the Corporation:— Continued

Protection afforded depositors, 1934-39...........................................................9, 16, 19

Recoveries by Corporation on assets purchased or held as collateral. .20, 21-22

Monetary policy, study to be made by Senate Committee on Banking and

Currency......................................................................................................... 31, 66

Morris Plan banks, classification o f................................................................................ 71

Mutual savings banks:

Insured:

Admissions to and terminations of insurance, 1934-39......................... 86-87

Assets and liabilities............................................................................................ 57-58

Capital investment of the Reconstruction Finance Corporation in. 145, 149

Earnings, expenses, and disposition of profits.......................................... 204-05

Number.............................................................................................................. 22, 57, 86

Suspended or merged with financial aid of the Corporation.............. 79

Insured and noninsured:

Assets and liabilities.........................................................................................125, 127

Changes during 1939........................................................................................... 88-89

Classification.......................................................................................................... 72

Deposits...................................................................................................114-17, 122-23

Number.................................................................................... 81, 88, 90-103, 108-09

Sources of data...................................................................................................... 71

National banks. See Comptroller of the Currency; Insured banks.

New banks. See Banking offices, establishment of.

Noninsured banks. See:

Absorptions, consolidations, and mergers;

Admissions to insurance;

Assets and liabilities of operating banks;

Capital of banks;

Classification of banks and banking offices;

Deposits;

Number of banks operating branches;

Number of operating banking offices;

Number of operating banks;

Number of branches;

Suspensions;

Uninsured deposits.

Number of banks operating branches:

By amount of deposits................................................................................................99, 101

By amount of deposits at head offices.................................................................. 99

By character of branch system..............................................................................110-111

By class of bank...................................................................................... 81, 90-97, 99, 101

By population of centers in which head offices are located.......................... 110

By States and possessions......................................................................... 90-97, 110-111

Change during 1934-39............................................................................................... 43

December 31, 1935-39................................................................................................. 81

Number of branches:

According to location in relation to head office..............................................110-111

By amount of deposits................................................................................................ 99

By class of bank........................................................................................ 81, 89, 90-97, 99

By population of centers in which located.......................................................... 110

By States and possessions......................................................................... 90-97, 110-111

Change during 1934-39............................................................................................... 43

Changes during 1939................................................................................................... 88, 89

December 31, 1935-39................................................................................................. 80, 81

Establishment approved by Corporation..................................................... 28-29, 229

Number of operating banking offices:

Additional offices approved by Corporation................................................28-29, 229

All offices.......................................................................................................80, 81, 88, 90-99

By amount of deposits................................................................................................ 98

By class of bank......................................................................................... 80-81, 88, 90-99

By States and possessions.............................................................. ........................... 90-97

By type of office............................................................................................................ 90-99

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Number of operating banking offices:— Continued.

Change during 1934-39............................................................................................... 43-44

Changes during 1939.................................................................................................... 88-89

Classification................................................................................................................... 71-72

Of commercial banks................................................................................80-81, 88, 90-99

Of insured banks........................................................................................80, 81, 88, 90-99

Of mutual savings banks................................................................................81, 88, 90-99

Of noninsured banks................................................................................ 80, 81, 88, 90-99

Percentage belonging to branch systems, 1939, compared with earlier

years................................................................................................................. 43

Number of operating banks:

All banks............................................................................................... 80, 88, 100, 102, 124

All commercial banks.....................................................................80, 100, 102, 104, 125

All mutual savings banks......................................................81, 88, 100, 102, 108, 125

Approved for admission to insurance............................................................22, 24, 229

By amount of deposits......................................... 44, 98-99, 100-01, 104-09, 138-43

By class of bank..............................................................................................80, 81, 90-103

By States and possessions........................................................................... 90-97, 102-09

Change during 1934-39...................................................................................22-23, 43-44

Changes during 1939................................................................................................... 88-89

Classification................................................................................................................... 71-72

Insured banks having inadequate capital................................................12-13, 49-51

Insured commercial banks:

By number of offices in center in which located...................................184, 185

By population of center in which located......................................184, 185, 189

Call dates, 1935-39..................................................................................126, 128, 132

Changes during 1934-39............................................................................... 44, 82-86

Changes during 1939.......................................................................................... 88-89

December 31, 1935-39.......................................................................................80, 126

December 30, 1939..................................................................................80, 88, 90-97

Examined during 1939:

Number........................................................................................................... 47

Grouped by FDIC districts and by States.......................154-57, 166-73

Grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of

deposits.................................................................150-53, 158-65, 174-75

For which earnings statements are tabulated....................... 180, 182, 184-89

June 30, 1939...........................................................................................98-99, 100-07

Insured commercial banks not members of the Federal Reserve System:

Call dates, 1935-39.............................................................................................. 134

Changes during 1934-39..................................................................................... 85-86

Changes during 1939.......................................................................................... 88-89

December 31, 1935-39....................................................................................... 80

December 30, 1939............................................................ 88, 90-97, 138, 140, 142

Examined during 1939....................................................................................... 179

For which earnings statements are tabulated................... 190, 192, 194, 196,

198, 200, 202

June 30, 1939...........................................................................................98-99, 100-07

Having Reconstruction Finance Corporation capital investment. . .144-45

Insured mutual savings banks:

Changes during 1939..................................................................................... 57, 88-89

Changes during 1934-39.................................................................................... 86-87

December 31, 1935-39.......................................................................................81, 204

December 31, 1939...................................................................57, 81, 86, 88, 90-97

For which earnings statements are tabulated........................................... 204

Having Reconstruction Finance Corporation capital investment. .. 145

Included in tabulations of suspensions, receiverships and mergers.. 79

June 30, 1939..........................................................................98-99, 100-03, 108-09

Noninsured banks:

Change during 1934-39...................................................................................... 44

Changes during 1939........................................................................................... 88-89

December 31, 1935-39...................................................................... 80-81, 125, 126

December 31, 1939.................................................................................. 24, 88, 90-97

June 30, 1939...........................................................................................98-99, 100-09

Unit banks......................................................................................... 80, 81, 90-97, 98, 100

INDEX 245

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Officers, active, of insured banks. See Employees of insured banks, number

of.

Officers and employees of the Federal Deposit Insurance Corporation............ 33-34

Operating banks. See Number of operating banks.

Payments to depositors in closed insured banks. See Receivership, insured

banks placed in.

Postal savings deposits. See Assets and liabilities of operating banks.

Preferred deposits. See Deposits, secured and preferred.

Preferred stock. See Capital of banks.

Profits. See Earnings, expenses, and disposition of profits of insured banks.

Protection of depositors in banks in financial difficulties, 1934-39 (see also

Insured and otherwise protected deposits; Mergers of insured

banks with financial aid of the Corporation; Receivership,

246 FEDERAL DEPOSIT INSURANCE CORPORATION

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insured banks placed in ):........................................................................4, 9, 16

Public funds. See Assets and liabilities of operating banks.

Purchase of bank assets by Corporation. See Bank assets purchased by the

Corporation.

Real estate (see also Fixed and miscellaneous assets).............................................. 27

Receivership, insured banks placed in:

Activities of Corporation as receiver o f .............................................................. 21, 219

Assets and liabilities of, at date of suspension, 1934-39................................ 220-23

Classification................................................................................................................... 78-79

Date of suspension and year of organization..................................................... 219

Deposits:

Determination of claims, regulations regarding........................... 29-30, 67-68

Insured, paid and unpaid by December 31, 1939............................17, 226-27

Insured, secured, preferred, subject to offset.....................................17, 224-25

Not eligible for insurance.................................................................................. 17

Percentage protected.....................................................................................16, 17, 18

Secured, preferred, and subject to offset, paid and unpaid by

December 31, 1939..................................................................................... 17

Unclaimed accounts............................................................................................ 17, 18

Uninsured, unsecured, not preferred, and not subject to offset........... 224-25

Depositors:

Date of first payment to ................................................................................... 18

Extent of protection by insurance.................................................................17, 18

Losses by those not fully protected by insurance................................... 9, 16

Number eligible for protection, paid and unpaid...................................226-27

Payments to............................................................................................. 16-18, 226-27

Liquidation o f ................................................................................................................ 20-21

Losses by Corporation on depositors’ claims paid........................................4, 15, 16

Names and location of, during 1939...................................................................... 219

Purchase of assets from.............................................................................................. 21, 218

Receivers............................................................................................................................ 219

Recoveries by Corporation on subrogated claims against............................. 20-21

Sources of data...............................................................................................................71, 73

Reconstruction Finance Corporation investment in capital of banks:

Amount................................................................................................ 27-28, 49, 75, 146-49

Number of banks with.................................................................................................144-45

Policy regarding, in rehabilitation of banks....................................................... 3,12

Retirements..............................................................................................26-28, 148-49, 230

Sources of data.....................................................................................................71, 145, 147

Regulations and rulings:

Issued by Federal Deposit Insurance Corporation during 1939............29, 67-68

Outstanding at end of 1939....................................................................................... 29-30

Repayments to the Corporation....................................................................................... 19-22

Reports from banks.................................................................................................................30, 73

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Salaries and wages of bank officers and employees. See Earnings, expenses,

and disposition of profits of insured banks.

Savings and time deposits. See Assets and liabilities of operating banks.

Secured and preferred deposits. See Deposits; Receivership, insured banks

placed in.

INDEX 247

Securities (see also Assets and liabilities of operating banks):

Examiners’ appraisal of, method used.................................................................. 74-75

Held by Federal Deposit Insurance Corporation............................................. 38, 40

Held by insured commercial banks:

Amounts, call dates, 1934-39...........................................................................132-33

Change in amounts during 1934-39.............................................................. 45-46

Examiners’ analysis: appraised and book values, deductions (net),

substandard, and not criticized.....................................47, 158-59, 166-67

Examiners’ analysis: ratios of appraised to book values. 47,162-63, 170-71

Policy of Corporation regarding..................................................................... 15

Held by insured commercial banks not members of the Federal Reserve

System, examiners’ analysis...................................................................49, 179

Market value of, effect of changes on holdings and profits........................... 56

Rate of income on, decline since 1934.................................................................. 52

State legislation during 1939 regarding bank investments............................ 32

Senate Committee on Banking and Currency............................................................ 31, 66

Size of commercial banks, 1934 and 1939..................................................................... 44

Solvency of insured banks, importance in bank supervision................................. 12

State banks members of the Federal Reserve System. See Insured banks.

State banks not members of the Federal Reserve System. See Insured banks;

Noninsured banks.

State bank supervisory authorities:

Banks cited to ................................................................................................................ 26

Coordination of supervisory standards and procedures............................10-12, 14

Data obtained from......................................................................................................71, 73

State legislation regarding deposit insurance and bank supervision.................. 31-32

Stockholders of banks:

Double liability of......................................................................................................... 31

In banks merged with financial aid of the Corporation, assets returned to 19

Substandard assets. See:

Assets of insured banks, examiners’ analysis of;

Fixed and miscellaneous assets;

Fixed and substandard assets ratios;

Loans of insured commercial banks;

Management of banks, quality of;

Securities.

Supervision. See Bank supervision.

Suspensions (see also Receivership, insured banks placed in):

Classification................................................................................................................... 78-79

Deposits of suspended banks.......................................................................... 206-07, 212

Number of banks terminating insured status by suspension...................... 82-87

Of banks cited for unsafe and unsound banking practices........................... 25, 26

Of insured and noninsured banks:

Number and deposits by class of bank, amount of deposits, and

State, 1939 .................................................................................................... 212

Number and deposits, by class of bank, year, amount of deposits,

and State, 1934-39...................................................................................... 206-07

Number, by class of bank, 1939..................................................................... 88

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Temporary deposit insurance funds:

Admissions to insurance under.....................................................................22-23, 82-87

Examinations of banks................................................................................................10, 23

Recommendations for the Banking Act of 1935..........................................10-11, 23

Terminations of insurance;

Analysis of, 1934-39..................................................................................................... 82-87

For unsafe and unsound banking practices and violations of law or

regulations..................................................................................................... 25, 26

Number..............................................................................................................................22, 24

Time and savings deposits. See Assets and liabilities of operating banks.

Trust funds, insurance o f.............................................................................................. 29, 30, 68

Uninsured deposits:

Assumption of, by insured banks........................................................................... 29, 231

Of banks in receivership.......................................................................15, 16, 17, 224-25

Unit banks. See Deposits; Number of operating banks.

United States Government obligations (see also Assets and liabilities of

operating banks):

Held by insured commercial banks, 1934-39...................................................... 132-33

Held by Federal Deposit Insurance Corporation............................................. 38, 40

Unsafe and unsound banking practices:

Action of Corporation.................................................................................................. 25-27

Banks examined, 1934-39........................................................................................... 24-25

Classification of banks cited, 1934-39................................................................... 25

Number of banks cited................................................................................................ 25-26

Types of, for which banks were cited................................................................... 26, 27

Unsecured deposits. See Receivership, insured banks placed in.

Violations of law or regulations........................................................................................ 25-27

Weak or hazardous banks:

Effect of continued operation on credit system................................................ 12

Eliminated during 1939.............................................................................................. 3-4, 9

Policy of Corporation regarding.............................................................................. 4, 23

Protection of depositors in..............................................................................4, 16, 17, 18

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