ANNUAL REPORT

OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

FOR THE YEAR ENDED 

DECEMBER 31, 1940

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Federal Reserve Bank of St. Louis
DIRECTORS

of the 

FEDERAL DEPOSIT INSURANCE CORPORATION

L eo T . C r o w l e y

Chairman

P h il l ip s L e e G old sbo r o u g h

P r e st o n D e l a n o

Comptroller of 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 sit In su r a n c e C o r p o r a tio n ,

Washington, D. C., August 15, 19^1.

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 le y , Chairman.

T h e P r e s id e n t of t h e S e n a t e

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

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Federal Reserve Bank of St. Louis
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CONTENTS

I n t r o d u c t io n a n d s u m m a r y ...................................................... . . . 3

Page

P A R T O N E

O P E R A T I O N S A N D P O L IC IE S O F T H E C O R P O R A T I O N

D e p o s it in s u r a n c e a n d t h e b a n k in g s y s t e m ............................................................ 9

P ledge o f assets to secure bank ob lig a tio n s.............................................................. 9

Insurance or guaranty o f bank o b lig a tio n s............................................................... 9

B an k su p erv ision .................................................................................................................... 10

T h e role o f Federal insurance o f d e p o s its .................................................................. 11

D ep osit insurance and bank su p erv ision .................................................................... 11

P r o t e c t io n of d e p o s it o r s ...................................................................................................... 13

P rotection o f depositors in insured b a n k s ................................................................. 13

M eth od o f p rovid in g insurance p ro te c tio n ................................................................ 15

P rocedure for p rovid in g insurance p ro te ctio n ......................................................... 16

Losses and recoveries o f the C o rp o ra tio n .................................................................. 17

R eceiversh ip activities of the C o rp o ra tio n ............................................................... 18

Su p e r v is o r y a c t iv it ie s of th e C o r p o r a t io n ............................................................. 18

A ction s regarding banks in an unsound co n d itio n ................................................ 19

U nsafe and unsound bank ing p ra ctice s...................................................................... 20

B an k e x a m in a tion s................................................................................................................ 22

A dm issions to and term inations of in su ran ce.......................................................... 23

E stablish m en t o f bra n ch es................................................................................................ 23

C apital adju stm en ts o f b a n k s ......................................................................................... 23

A p p rov a l o f assum ption or release o f d e p o s its........................................................ 24

R ep orts from b a n k s .............................................................................................................. 24

L e g is l a t io n d u r in g 1940 a f f e c t in g d e p o s it in s u r a n c e ..................................... 25

F ederal leg isla tion .................................................................................................................. 25

State legislation directly affectin g the operations of the C orp ora tion . . . . 25

State legislation relating to bank su p ervision .......................................................... 26

O p e r a t in g s t a t e m e n t of th e C o r p o r a t io n ............................................................... 27

O rganization and s t a ff........................................................................................................ 27

In co m e and expen ses............................................................................................................ 28

C laim s held b y C orp ora tion against suspended and m erged b a n k s ............. 29

A ssets and lia b ilitie s............................................................................................................. 31

A u d it ............................................................................................................................................ 31

PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

C o m m e r c ia l b a n k in g o f f ic e s ....................................................................................37

Banking offices in operation............................................................................ .......37

Insured banks...........................................................................................................37

A s se ts 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 ........................................38

Changes in assets and liabilities during 1940.......................................................39

Analysis of loans......................................................................................................40

Instalment consumer loans.....................................................................................40

Distribution of assets..............................................................................................42

C o n d it io n of in s u r e d c o m m e r c ia l b a n k s ....................................................... .......43

Analysis of assets.............................................................................................. .......43

Analysis of capital accounts............................................................................ .......45

V

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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 ......................................................... 47

Trends of earnings and expenses..................................................................... 48

Rates of earnings and expenses....................................................................... 50

Net earnings and net profits........................................................................... 51

Net charge-offs.................................................................................................. 52

Dividends........................................................................................................... 55

I n s u r e d m u t u a l s a v in g s b a n k s ......................................................................................... 56

Vi FEDERAL DEPOSIT INSURANCE CORPORATION

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PART THREE

LOSSES ON ASSETS OF COMMERCIAL BANKS, 1865-1940

L osses on a s s e t s......................................................................................................................... ......... 61

Amount and distribution of losses........................................................................ 61

Losses not covered by the estimate............................................................... ....... 64

Concentration of losses during crisis periods.........................................................64

Rates of loss during post-crisis and wartime periods.......................................... 65

Losses by years, 1921-1940......................................................................................65

D epositors’ l o sse s.............................................................................................................................. 65

Amount of depositors* losses and stockholders’ assessments...................... ....... 66

Rates of loss during crisis and post-crisis periods....................................... ....... 67

M ethod of e stim ating losses on assets of commercial b a n k s, 1865-1940. 70

Methods of estimation..................................................................................... ........70

Losses published or reported by Federal bank supervisory authorities. . . 70

Losses estimated from sample data....................................................................... 72

Losses estimated from data for other periods or groups of banks............. ....... 72

Reliability of estimates.................................................................................... ........73

Total deposits in operating banks.................................................................. ....... 73

PART FOUR 

LEGISLATION

L e g is l a t io n r e l a t in g to in s u r e d b a n k s ......................................................... 77

Amendment to Federal statute concerning robbery of a bank.................. 77

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

E x p l a n a t o r y n o t e s ................................................................................................................... 81

Sources of data.................................................................................................. 81

Classification of banks and banking offices................................................... 81

Population of center and number of offices................................................... 83

Deposits of banks and banking offices........................................................... 83

Banks examined by, and submitting reports to, the Federal Deposit

Insurance Corporation................................................................................. 84

Assets and liabilities of operating banks....................................................... 84

Analysis of examinations of insured commercial banks............................... 85

Earnings, expenses, and disposition of profits of insured commercial banks. 88

Suspensions, receiverships, and mergers........................................................ 90

N u m b e r, of b a n k in g o ff ic e s— e n d - o f- y e a r ................................................................ 92

N u m b e r of b a n k in g o f f ic e s— m id y e a r ......................................................................... 110

D e p o s it s of b a n k in g o f f ic e s .............................................................................................. 128

A ssets a n d l ia b il it ie s of o p e r a t in g b a n k s ............................................................... 140

A n a l y s is of e x a m in a t io n s of in s u r e d c o m m e r c ia l b a n k s ................................ 160

A n a l y s is o f e x a m in a t io n s o f in 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

b y t h e F e d e r a l D e p o s it I n su r a n c e C o r p o r a t io n ........................................... 186

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CONTENTS vii

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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 ......................................................... 190

E a r n in g s of in s u r e d b a n k s s u b m it t in g r e p o r t s to 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 .................................................................................. 204

Su s p e n s io n s , r e c e iv e r s h ip s , a n d m e r g e r s ...................................................... 222

Su p e r v is o r y a c t io n s b y t h e C o r p o r a t io n ...................................................... 240

LIST OF CHARTS

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

A. Principal assets of insured commercial banks, call dates, 1934-1940........ 39

B. Percentage distribution of assets—all commercial banks, 1919-1940.... 42

C. Current operating earnings of insured commercial banks, calendar years, 

1934-1940......................................................................................................... 48

D. Current operating expenses of insured commercial banks, calendar years, 

1934-1940......................................................................................................... 49

E. Charge-offs and recoveries of insured commercial banks, calendar years, 

1934-1940......................................................................................................... 53

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LIST OF TABLES

PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

P r o t e c t io n of d e p o s it o r s :

1. Losses and disbursements in insured banks in financial difficulties, 

1934-1940............................................................................................... 14

2. Depositors’ recoveries and losses in insured banks in financial difficulties, 1934-1940.................................................................................. 14

3. Disbursements of the Corporation in connection with banks in 

financial difficulties, 1934-1940........................................................... 15

4. Deposits protected in insured banks in financial difficulties, 1934-

1940......................................................................................................... 16

5. Payment of deposits of insured banks placed in receivership, 1934-

1940 ........................................................................................................ 17

6. Repayments to the Corporation as of December 31, 1940, of disbursements in insured banks in financial difficulties....................... 18

Su p e r v is o r y a c t iv it ie s of t h e c o r p o r a t io n :

7. Action to terminate insured status of banks charged with engaging 

in unsafe or unsound practices or violations of law or regulations, 

1936-1940 ............................................................................................... 20

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

regulations charged against 19 banks by the Corporation during

1940 ........................................................................................................ 21

Op e r a t in g s t a t e m e n t of t h e C o r p o r a t io n :

9. Officers and employees of the Corporation, December 31, 1940. .. 27

10. Income and expenses of the Corporation since beginning operations 28

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

calendar year 1940................................................................................ 29

12. Comparative balance sheet of the Federal Deposit Insurance 

Corporation, December 31, 1940, and December 31, 1939............. 30

13. Auditors’ report..................................................................................... 31

PART TWO

DEPOSIT INSURANCE AND BANKING 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, 1940, and December 31, 1939............... 37

15. Percentage of commercial banking offices in operation belonging 

to branch banking systems, June 29, 1940

In centers grouped according to population and number of banking

offices in center................................................................................... 38

A ssets 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 31, 1940, and December 30, 1939..................................... 40

17. Percentage distribution of assets and liabilities, 1920, 1929, 1937, 

and 1940

All operating commercial banks in the United States and possessions 43 

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C o n d it io n of in s u r e d c o m m e r c ia l b a n k s :

18. Appraisal of assets of insured commercial banks examined in 1940. 44

19. Percentage distribution of number and deposits of insured commercial banks, examinations in 1940 and 1939

Banks grouped by fixed and substandard assets ratio..................... 45

20. Percentage distribution of number and deposits of insured commercial banks, examinations in 1940 and 1939

Banks grouped by net sound capital ratio........................................ 46

21. Substandard asset and net sound capital ratios, examinations in 1940

Insured commercial banks grouped by amount of deposits.............. 47

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 :

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

1934-1940 ............................................................................................... 48

23. Rates of income received and interest paid by insured commercial 

banks, 1934-1940 .................................................................................. 50

24. Rates of net earnings and net profits of insured commercial banks, 

1934-1940............................................................................................... 51

25. Percentage distribution of insured commercial banks according to 

rates of net earnings on total capital accounts, 1938-1940............. 52

26. Percentage distribution of insured commercial banks according to 

rates of net profits on total capital accounts, 1938-1940................. 52

27. Charge-offs and recoveries of insured commercial banks, 1937-1940 54

28. Rates of dividends of insured commercial banks, 1934-1940.......... 55

PART THREE

LOSSES ON ASSETS OF COMMERCIAL BANKS, 1865-1940 

L osses on a s s e t s :

29. Estimated losses on assets of commercial banks, 1865-1940............ 62

30. Estimated losses on assets of commercial banks, 1865-1940, by 

selected periods.............................. ....................................................... 62

31. Estimated rates of loss on assets of commercial banks, 1865-1940,

for selected periods............................................................................... 63

D e p o s it o r s ’ l o s s e s :

32. Estimated net charge-offs in operating commercial banks and losses

to depositors in closed commercial banks, 1921-1940, by years... 66

33. Estimated losses to depositors and assessments collected from 

stockholders in commercial banks closed because of financial difficulties, 1865-1940................................................................. ............... 68

34. Estimated rates of loss to depositors and of assessments collected 

from stockholders in commercial banks closed because of financial 

difficulties, 1865-1940.......................................................................... 69

M e th o d of e s t im a t in g lo sse s on a sse t s of c o m m e r c ia l b a n k s , 1865-1940:

35. Distribution of estimated losses on assets of commercial banks, 

1865-1940, by method of estimation.................................................. 71

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

N u m b e r of b a n k in g o ff ic e s— e n d - o f- y e a r :

101. Number and classification of operating banking offices, December

31, 1935-1940........................................................................................ 92

LIST OF TABLES ix

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X FEDERAL DEPOSIT INSURANCE CORPORATION

P age

N u m b e r of b a n k in g o f f ic e s— e n d - of- y e a r — C on tin u ed :

102. A nalysis o f changes in nu m ber and classification of op eratin g ba n k ­

ing offices in the U nited States and possessions during 1940.......... 94

103. N u m ber o f op eratin g ban kin g offices, D ecem b er 31, 1940

Grouped according to insurance status and class of bank and by

type of office in each State and possession........................................ 96

104. A nalysis of adm issions to and term inations o f insurance in each

class of bank, 1934-1940....................................................................... 104

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

105. N u m ber o f op eratin g banking offices, June 29, 1940

Grouped according to insurance status and class of bank and by

type of office and amount of deposits................................................. 110

106. N u m b er o f operatin g banks, June 29, 1940

Grouped according to insurance status and class of bank and by

type of bank and amount of deposits................................................. 112

107. N u m ber of op eratin g banks, June 29, 1940

Grouped according to insurance status and class of bank in each

State and in the possessions............................................................... 114

108. N u m ber o f op eratin g ban kin g offices o f com m ercial banks, June 

29, 1940

Grouped according to amount of deposits and by type of office and

population of center in which located................................................ 116

109. N u m b er o f op eratin g ban kin g offices o f com m ercial banks, June

29, 1940

Grouped according to number of commercial banking offices in center

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

which located....................................................................................... 118

110. N u m b er o f op era tin g com m ercial banks, June 29, 1940

Grouped according to amount of deposits and by insurance status in

each State and in the possessions...................................................... 120

111. N u m ber o f com m ercial banks operatin g bran ch es and n u m ber o f 

branches, June 29, 1940

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............................... 124

112. N u m ber o f op eratin g m utual savings banks, June 29, 1940

Grouped according to amount of deposits and by insurance status

in each State....................................................................................... 126

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

113. D ep osits of op era tin g ban kin g offices, June 29, 1940

Offices grouped according to insurance status and class of bank and

by type of office and amount of deposits........................................... 128

114. D ep osits o f op eratin g banks, June 29, 1940

Banks grouped according to insurance status and class of bank and

by type of bank and amount of deposits........................................... 130

115. D ep osits o f op eratin g banks, June 29, 1940

Banks grouped according to insurance status and class of bank in

each State and in the possessions...................................................... 132

116. D eposits, o f operatin g com m ercial banks, June 29, 1940

Banks grouped according to amount of deposits and by insurance

status in each State and in the possessions....................................... 134

117. D ep osits of operatin g m utual savings banks, June 29, 1940

Banks grouped according to amount of deposits and by insurance

status in each State............................................................................. 138

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

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

States and possessions, 1935-1940

Banks grouped by insurance status and type of bank...................... 140

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

dates 1 9 34-1 940........................................................................................................ 144

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

call dates 19 3 4 -1 9 4 0 ............................................................................................... 148

121. Assets and liabilities of operating insured commercial banks not 

members of the Federal Reserve System, call dates 1 9 34-1 940 .. .. 150

122. Assets and liabilities of operating insured commercial banks submitting reports to the Federal Deposit Insurance Corporation, 

December 31, 1940

Banks grouped according to amount of deposits.............................. 154

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

commercial banks submitting reports to the Federal Deposit Insurance Corporation, December 31, 1940

Banks grouped according to amount of deposits.............................. 156

124. Percentage distribution of principal asset and liability items of 

operating insured commercial banks submitting reports to the 

Federal Deposit Insurance Corporation, December 31, 1940

Banks grouped according to amount of deposits.............................. 158

A n a l y s is of e x a m in a t io n s of in s u r e d c o m m e r c ia l b a n k s :

125. Analysis of capital and liabilities of insured commercial banks 

examined in 1940

Banks grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of deposits. .. 160

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

1940

Banks grouped by net sound capital ratio, fixed and substandard

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

127. Analysis of capital and liabilities of insured commercial banks 

examined in 1940

Banks grouped by Federal Deposit Insurance Corporation District

and State............................................................................................. 164

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

1940

Banks grouped by Federal Deposit Insurance Corporation District

and State............................................................................................. 166

129. Appraisal of assets of insured commercial banks examined in 1940

Banks grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of deposits. .. 168

130. Asset ratios of insured commercial banks examined in 1940

Banks grouped by net sound capital ratio, fixed and substandard

assets ratio, rate of average net earnings, and amount of deposits. .. 172

131. Appraisal of assets of insured commercial banks examined in 1940

Banks grouped by Federal Deposit Insurance Corporation District

and State............................................................................................. 176

132. Asset ratios of insured commercial banks examined in 1940

Banks grouped by Federal Deposit Insurance Corporation District

and State............................................................................................ 180

133. Distribution of insured commercial banks examined in. 1940 according to net sound capital ratio

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

net earnings, and amount of deposits............................................... 184

134. Distribution of deposits of insured commercial banks examined in 

1940 according to net sound capital ratio

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

net earnings, and amount of deposits............................................... 185

LIST OF TABLES xi

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xii FEDERAL DEPOSIT INSURANCE CORPORATION

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A n a l y s is of e x a m in a t io n s of in 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 b y

t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n :

135. Net sound capital ratios of insured commercial banks examined by 

the Federal Deposit Insurance Corporation, 1933-1940

Banks grouped according to amount of deposits.............................. 186

136. Total asset ratios of insured commercial banks examined by the 

Federal Deposit Insurance Corporation, 1933-1940

Banks grouped according to amount of deposits.............................. 187

137. Loan ratios of insured commercial banks examined by the Federal 

Deposit Insurance Corporation, 1934-1940

Banks grouped according to amount of deposits.............................. 188

138. Asset ratios of insured commercial banks examined by the Federal 

Deposit Insurance Corporation, 1940

Banks grouped according to amount of deposits.............................. 189

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 :

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

19 34-1 940..................................................................................................................... 190

140. Ratios of earnings, expenses, and dividends of insured commercial 

banks, 19 34-1 940..................................................................................................... 192

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

1940

By class of bank................................................................................. 194

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

earnings, 1940

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

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

located................................................................................................. 196

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

profits, 1940

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

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

located................................................................................................. 197

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

earnings and by rate of net profits, 19 40.................................................... 198

145. Distribution of insured commercial banks according to rate of 

income on loans, 1940

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

located, and rate of net earnings....................................................... 199

146. Distribution of insured commercial banks according to rate of 

income on loans, 1940

Banks grouped by ratio of loans to total assets and ratio of time and

savings deposits to total deposits....................................................... 200

147. Distribution of insured commercial banks according to ratio of 

loans to total assets, 1940

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

located, and rate of net earnings................................................... 201

148. Distribution of insured commercial banks according to rate of 

interest paid on time and savings deposits, 1940

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

located, and rate of net earnings........................................................ 202

149. Distribution of insured commercial banks according to ratio of 

time and savings deposits to total deposits, 1940

Banks grouped by rate of interest paid on time and savings deposits,

rate of net earnings, and ratio of loans to total assets...................... 203

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E a r n in g s of in s u r e d b a n k s s u b m it t in g r e p o r t s to t h e F e d e r a l D e p o s it

I n su r a n c e C o r p o r a t io n :

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

banks submitting reports to the Federal Deposit Insurance Corporation, 19 34-1 940..................................................................................................... 204

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

commercial banks submitting reports to the Federal Deposit Insurance Corporation, 19 34-1 940....................................................................... 206

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

banks submitting reports to the Federal Deposit Insurance Corporation, 1940

Banks grouped according to amount of deposits.............................. 208

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

of insured commercial banks submitting reports to the Federal 

Deposit Insurance Corporation, 1940

Banks grouped according to amount of deposits.............................. 210

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

commercial banks submitting reports to the Federal Deposit Insurance Corporation, 1940

Banks grouped according to amount of deposits.............................. 212

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

commercial banks submitting reports to the Federal Deposit Insurance Corporation, 1940

Banks grouped according to population of center in which located. 214

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

commercial banks submitting reports to the Federal Deposit Insurance Corporation, 1940

Banks grouped according to rate of net earnings.............................. 216

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

commercial banks submitting reports to the Federal Deposit Insurance Corporation, 1940

Banks grouped according to rate of income on loans....................... 218

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

savings banks, 19 34-1 940................................................................................ 220

Su s p e n s io n s , r e c e iv e r s h ip s , a n d m e r g e r s :

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

1940

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

and State............................................................................................. 222

160. Number and deposits of and disbursements to insured banks 

merged with the financial aid of the Federal Deposit Insurance 

Corporation, 1935-1940

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

and State............................................................................................. 224

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

merged with the financial aid of the Federal Deposit Insurance 

Corporation, 1934-1940

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

and State............................................................................................. 226

162. Number and deposits of banks which suspended operations, 1940

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

State..................................................................................................... 228

163. Number and deposits of and disbursements to insured banks 

merged with the financial aid of the Federal Deposit Insurance 

Corporation, 1940

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

State..................................................................................................... 229

LIST OF TABLES xiii

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Su s p e n s io n s , r e c e iv e r s h ip s , a n d m e r g e r s—Continued:

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

merged with the financial aid of the Federal Deposit Insurance 

Corporation, 1940

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

State..................................................................................................... 230

165. Accounts and deposits of and disbursements to insured banks 

merged with the financial aid of the Federal Deposit Insurance 

Corporation, 1935-1940........................................................................ 232

166. Assets purchased by the Federal Deposit Insurance Corporation to 

facilitate completion of liquidation of insured banks in receivership, 

1939-1940

As shown by books of FDIC, December 31, 191+0............................ 234

167. List of insured banks placed in receivership, 1940........................... 235

168. Assets of insured banks placed in receivership, 1934-1940

As shown by books of bank at date of suspension............................ 236

169. Liabilities of insured banks placed in receivership, 1934-1940

As shown by books of bank at date of suspension............................ 237

170. Deposits of insured banks placed in receivership, 1934-1940

As shown by books of FDIC, December 31, 191+0............................ 238

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

1934-1940

As shown by books of FDIC, December 31, 191+0............................ 239

Su p e r v is o r y a c t io n s b y t h e C o r p o r a t io n :

172. 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, 1940................................................................. 240

173. Actions by the Federal Deposit Insurance Corporation upon applications regarding capital and other financial adjustments, August

23, 1935, to December 31, 1940.......................................................... 242

174. Amounts involved in actions by the Federal Deposit Insurance 

Corporation upon applications regarding capital and other financial 

adjustments, August 23, 1935, to December 31, 1940..................... 244

175. Action to terminate insured status of banks for engaging in unsafe 

or unsound banking practices or violations of law or regulations,

August 23, 1935, to December 31, 1940............................................. 246

176. Unsafe or unsound banking practices and violations of law or 

regulations upon which action to terminate insured status was 

started against 97 insured banks, August 23,1935, to December 31,

1940......................................................................................................... 247

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Federal Reserve Bank of St. Louis
INTRODUCTION AND SUMMARY

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Introduction and Summary

The Federal Deposit Insurance Corporation was created in 1933 

and, since January 1, 1934, has been protecting depositors in more 

than 13,000 banks.

In 355 banks in financial difficulties, the Corporation has protected 

depositors from loss by paying off insured claims or by putting up cash 

to cover depreciated assets and thus permit merger of the banks with 

sound banks. More than 1 million depositors in the 355 banks have 

been protected from the loss of any part of their deposits and, for the 

most part, from serious interruption in the use of their funds. Less 

than 5,000 of the depositors who filed claims against these banks will 

suffer any loss at all. Losses of these depositors will amount to about 

$3 million, or seven-tenths of 1 percent of the $439 million of deposits 

in these banks, about one-thirtieth of the average rate of loss borne by 

depositors in banks which failed during the 70 years preceding deposit 

insurance. The Corporation's losses are estimated at 15 times the 

total amount borne by the depositors in the 355 insured banks, or 

10 percent of deposits.

In numerous other weak or hazardous banks which have been in 

financial difficulties the Corporation has protected depositors from 

loss through prompt supervisory action which has corrected the 

situations before losses have actually been incurred.

The Corporation's losses and operating expenses have approximated 

income from investments, permitting the accumulation as surplus of 

practically all of the assessments paid in by banks. On December 31, 

1940, the capital and surplus of the Corporation amounted to $496 

million, an increase of $207 million over the original capital of $289 

million with which the Corporation started.

The banking situation has improved considerably over the past 

seven years, and the loans and securities of the banks are probably of 

higher average quality than ever before in our history. The favorable 

aspects of the situation and the satisfactory operating experience to 

date of the Federal Deposit Insurance Corporation, however, should 

not be permitted to obscure the existence of undesirable tendencies 

which may threaten the soundness of our banking system. The 

capital ratios of the banks are low. At the year's close the net sound 

capital of the banks averaged not more than 9 percent of total assets.1

1 For the most part the low capital ratios are in the larger banks; from one-fifth to one-fourth of 

the banks had capital ratios below 9 or 10 percent, but these banks held two-thirds of the deposits of 

all insured commercial banks. The average capital ratio of banks with deposits of more than $10,000,000 

each was not in excess of 8.5 percent.

3

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4 FEDERAL DEPOSIT INSURANCE CORPORATION

Some banks continue to show unsatisfactory asset positions and 

undesirable management practices. Where problem cases exist the 

Corporation is making every effort to work out corrective programs.

The Corporation's experience reveals the necessity for extension 

and further clarification of the Corporation's supervisory authority to 

provide greater assurance of achievement of the objectives of deposit 

insurance.

The place of deposit insurance in the American banking system and 

the operating results of the deposit insurance system are discussed in 

Part One of this report. Banking developments are discussed in Part 

Two. A special report dealing with losses in banks over a period of 

76 years is presented in Part Three. Federal legislation during 1940 

affecting deposit insurance is published in Part Four. Part Five 

contains comprehensive statistics relating to banks and deposit insurance.

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

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Federal Reserve Bank of St. Louis
D e po sit I n s u r a n c e a n d t h e B a n k in g Sy s t e m

The history of American banking has been characterized by a high 

rate of bank failures and a consequent search for methods to avoid 

failures and to secure the safety of funds of depositors. Prior to 1865 

successive waves of bank failures occurred in such numbers as to affect 

seriously the fortunes of bank depositors and note holders and the 

economic stability of the nation. From 1865 to 1933, approximately 

19,000 banks failed with losses to depositors estimated at more than 

$2 billion.1

These failures and the losses attendant thereon have led to repeated 

efforts to obtain greater safety and security in the relations of customers with their banks. For the most part the efforts have involved 

one or more of the following: pledge of specific assets against particular liabilities, insurance or guaranty of bank obligations, provision of 

facilities to improve the liquidity of banks, and public supervision of 

banks.

Pledge of assets to secure bank obligations. In many States, 

prior to the establishment of the national banking system, provision 

was made for the pledge of assets to secure the safety of circulating 

bank notes. In national banks, circulating notes were secured by 

pledge of assets and cash and, in addition, by the guaranty of the 

Federal Government. During the latter part of the nineteenth 

century, with the increasing importance of deposits as the means of 

making payments and with the growing complexity of business 

relationships, the effect of bank failures upon the economic system 

became more serious and additional efforts were made to obtain 

security for depositors. The practice developed of pledging assets 

to assure the safety of the funds of individual depositors. Banks 

were subsequently required to discontinue the practice, however, 

except in the case of government deposits and of special trust funds, 

since the giving of preference to one depositor over another was considered contrary to public policy.2

Insurance or guaranty of bank obligations. The public demand for protection of creditors of banks in the State banking systems 

prior to the Civil War led to the establishment of safety funds or 

mutual guaranty plans in six States.3 These insurance or guaranty 

plans met with varying degrees of success. The Michigan plan had

1 See Part Three, pages 61 to 70.

* As of December 31, 1940, operating insured commercial banks reported approximately 8 percent 

of their deposits to be protected by pledge of assets or by legal preference.

* New York in 1829; Vermont in 1831; Indiana in 1834; Michigan in 1836; Ohio in 1845; Iowa 

in 1858. All debts were covered in Vermont, Indiana, and Michigan;only circulating notes were covered 

in Ohio and Iowa. In New York all debts were covered from 1829 to 1842 and only circulating notes 

thereafter.

9

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

only a limited applicability and was unsuccessful. The New York 

and Vermont funds were partially successful, meeting nearly all claims. 

The New York and Vermont systems went out of existence with the 

termination of the charters of the banks involved. The plans in 

Indiana, Ohio, and IowTa were coupled with excellent supervisory 

systems and were successful; their operation was discontinued only 

when the member institutions were converted into national banks 

following the prohibitive Federal tax upon State bank note issues.

Later, when deposits became a more important part of the liabilities 

of the banks and the State bank systems again became important, the 

pressure for guaranty or insurance of bank obligations was renewed, 

resulting in the introduction of many proposals for deposit insurance 

in State legislatures and in the Federal Congress. In the Federal 

Congress more than 125 bills were introduced between 1880 and 1933 

providing for the insurance or guaranty of bank deposits. During 

the period, 1907-1917, deposit guaranty funds were established in 

eight States.1 Except in Texas, these systems ultimately became 

insolvent.

The failure of the State deposit guaranty systems may be attributed 

primarily to the three defects listed below.

(1) Inadequate distribution of risk. In each system the 

banks were located within a single State. In addition, the 

States which instituted deposit insurance were primarily 

agricultural States exposed to the unusual vicissitudes and 

heavy bank casualties characteristic of agricultural regions 

during the 1920’s.

(2) Inadequate authority to establish and maintain conditions of admission to insurance, and inadequate powers and 

standards of supervision. As a consequence the principle of 

adverse selection applied; the weaker banks joined the system 

and the better banks refrained from joining, or withdrew.

(3) Financial resources inadequate for the nature of the 

risks assumed.

Bank supervision. Among the nations which have or have had 

systems of free business enterprise, the United States has been unique 

with respect to the degree of detailed bank supervision practiced. In 

a rapidly growing banking system with large numbers of units operating under diverse economic circumstances, wide variations in operating 

results and in standards of banking practice were inevitable. These 

variations, combined with the numerous bank failures which accompanied our recurring business depressions, led to popular demand for

1 Oklahoma in 1907; Kansas, Nebraska, and Texas in 1909; Mississippi in 1914; South Dakota 

in 1915; North Dakota and Washington in 1917.

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DEPOSIT INSURANCE AND THE BANKING SYSTEM 11

greater public supervision. Rules and requirements were developed 

to avoid the growth or continuance of unsound practices and to protect 

bank creditors. To these rules have been added others to enforce 

public policy with respect to competitive practices and concentration 

of control. Historically, however, rules and regulations have been 

conceived, for the most part, in the interest of protecting creditors, 

now chiefly depositors, of banks.

Banking reforms following the panics of 1893 and 1907 resulted, in 

addition to the creation of deposit insurance or guaranty systems in 

eight States, in the further development and extension of bank supervision and in the creation of improved facilities for translating bank 

assets into cash, thus providing increased liquidity to meet customers' 

demands. Notwithstanding these reforms bank failures occurred 

during the 1920's and early 1930's in such numbers and proportions 

and involved such heavy losses to depositors and such deflation as to 

threaten the stability of the entire economic structure. The demand 

for further security for bank depositors led to the creation in 1933 of 

the Federal system of deposit insurance, following the collapse of the 

banking system in the spring of that year.

The role of Federal insurance of deposits. Federal insurance 

of deposits was established to protect individual depositors from loss 

through bank suspensions, to prevent runs, and, through avoidance 

of runs and fear of runs, to lessen the pressure upon banks for liquidation of assets under adverse circumstances, and to provide for 

prompt payment of depositors' funds in the banks which do fail. 

Through the contribution of the Federal Government to the Corporation's capital funds and through a system of regular assessment upon 

all insured banks, losses are distributed over the entire banking system 

and the nation. Prior to 1934 these losses were borne in the first 

instance by individual communities and by persons in those communities, but their economic repercussions adversely affected the entire 

nation.

In the banks insured by the Federal Deposit Insurance Corporation 

which have closed or have been merged because of financial difficulties, 

depositors' losses will amount to seven-tenths of 1 percent of total 

deposits. These losses compare with an average loss of more than 

20 percent borne by depositors in the banks which failed during the 

70 years preceding deposit insurance. More than 13,000 banks 

located throughout the country, holding 86 percent of the deposits of 

all banks, are insured with the Federal Deposit Insurance Corporation. 

The present insurance limit of $5,000 protects more than 98 percent 

of the depositors in insured banks from any loss whatsoever.

Deposit insurance and bank supervision. Establishment of 

the insurance system has not been accompanied by any change in the

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

fundamental objective of bank supervision. Protection of creditors of 

banks has continued to be the chief purpose of supervision. Relatively 

few depositors, however, now suffer any loss at all in closed insured 

banks. Under the deposit insurance system, the Corporation in protecting the depositors has succeeded to their claims against the banks 

and has, therefore, become the chief creditor of insured banks which 

fail.1

The Corporation alone of the supervisory agencies bears the financial responsibility of loss from bank failures, but the direct supervision 

of over one-half of the banks for whose solvency the Corporation has 

sole financial responsibility rests with other agencies. More than onehalf of the Corporation's disbursements for the protection of depositors 

has occurred in connection with insured banks over which the Corporation did not have direct supervision. Approximately two-thirds of 

the Corporation's expected losses to date are in those banks.

The Corporation should have direct supervisory contact with each 

insured bank; the fact that the insurance coverage is nominally low in 

some banks does not affect this necessity. Experience of the Corporation reveals that depositors in most cases are protected for the full 

amount of their deposits, irrespective of the size of their balances, 

when it becomes necessary to eliminate weak or insolvent insured 

banks. In the main, the Corporation has protected depositors in the 

larger banks by making loans to facilitate mergers, thus avoiding 

receiverships. Under this procedure there has been no loss to any 

depositor regardless of the amount of his deposit. This protection has 

covered balances due other banks, building and loan companies, and 

other financial institutions with resulting benefit to their depositors, 

shareholders, and customers. As a consequence, the financial deterioration of an insured bank no longer generates widespread uneasiness, in contrast with the situation prior to deposit insurance when 

banking difficulties were accompanied by loss of confidence, depositors' 

runs, and economic disturbances.

Before the establishment of the Federal Deposit Insurance Corporation bank supervisors were subject to criticism by local depositors who 

suffered when banks failed. Now that the bulk of the losses is borne 

by the Corporation most depositors no longer look to supervisors for 

the protection of their funds and the supervisors are no longer under 

the pressure of their criticism. The Corporation, therefore, must be 

in a position to exert effectively its influence for the maintenance of 

the banks in a sound condition.

The existence today of more than one system of bank supervision 

permits bankers a certain amount of choice of supervisory agencies.

1 The Corporation’s losses are about 15 times those of other creditors of the closed banks.

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PROTECTION OF DEPOSITORS 13

As a consequence, an unsound banker can balance one supervisory 

system against another and choose the one which will impose the lowest 

standards of operation on his bank. There results from this situation 

a tendency on the part of some supervisory agencies to engage in undesirable competition with other supervisory agencies in order to retain 

banks under their jurisdiction or to induce banks to come under their 

jurisdiction. The effect of such competition is to reduce standards of 

bank supervision and banking practices.

It has already been pointed out that one of the important factors 

contributing to the failure of the State systems of deposit insurance or 

guaranty in the 1920's was lack of authority on the part of the insuring 

agencies to maintain adequate standards of supervision and banking 

practices. Maintenance of such standards is essential to the operation 

of a sound banking system. The Corporation, as insurer of accounts 

in more than 13,000 banks holding more than $65 billion of deposits, 

has the duty of preserving the safety and integrity of the system. In 

order to discharge the Corporation's responsibilities and to achieve 

the objectives of the deposit insurance law, the Corporation must have 

the power to require all insured banks to maintain proper standards 

and operate on a sound basis.

P r o te c t io n of D epo sito r s

Protection of depositors in insured banks. From the beginning 

of Federal insurance of bank deposits on January 1, 1934, to the close 

of 1940, 355 insured banks with deposits of $439 million were merged 

with the financial aid of the Corporation or suspended and were put 

into liquidation. Depositors' losses in these banks are estimated at 

about $3 million, or less than 1 percent of total deposits. This rate of 

loss compares with an estimated average loss of approximately 20 percent suffered by depositors in closed banks during the 70 years immediately preceding deposit insurance.1

The Corporation disbursed $216 million to protect over 1 million 

depositors in the 355 banks. The Corporation expects to lose about 

$46 million, one-fifth of its disbursements, or about 10 percent of the 

deposits of the banks. Figures are presented in Table 1. More than 

one-half of this loss is accounted for by 8 of the 355 banks.

Nearly one-third of the Corporation's losses will be incurred in banks 

which were merged or placed in receivership during 1940. Approximately 85 percent of the estimated losses in the banks closed or merged 

in 1940 are in three banks. The Corporation's total disbursements 

in 1940 amounted to $74 million, exclusive of expenses, and involved 43

1 See Part Three, pages 61 to 70.

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14 FEDERAL DEPOSIT INSURANCE CORPORATION

banks with total deposits of $144 million. The name and location of 

the insured banks placed in receivership or merged with the financial 

aid of jthe Corporation during 1940, together with data respecting 

their assets and liabilities and the Corporation's disbursements, are 

presented in Tables 165 and 167 to 171, pages 232 and 235 to 239.

Table 1. LOSSES AND DISBURSEMENTS IN INSURED BANKS

in F in a n c ia l D if f ic u l t ie s , 1934-1940

Total

1934-1940

Banks closed 

or merged in 

1940

Number of banks............................................................................................. 355 43

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

Estimated loss to the Federal Deposit Insurance Corporation............

Disbursements by the Federal Deposit Insurance Corporation...........

$3,054,000

45,776,000

216,006,000

$41,000

13.655.000

74.061.000

Excluding those depositors who were fully protected by insurance 

but did not file claims and who could not be located by the Corporation's representatives, less than 5,000 depositors will suffer any loss 

at all. In 257 of the 355 banks not a single depositor who filed a claim 

will suffer any loss. Figures relating to depositors' losses and recoveries are given in Table 2.

Table 2. DEPOSITORS’ RECOVERIES AND LOSSES IN INSURED BANKS

in F i n a n c ia l D i f f ic u l t ie s , 1934-1940

Number of depositors.................................................................................................................... 1,133,379

Depositors suffering no loss.......................................................................................................... 1,106,720

Depositors suffering loss:

Claims filed but recoveries from liquidation inadequate1............................................. 4,439

Claims not filed within period prescribed by law............................................................... 22,220

Amount of deposits........ ............................................................................................................ $438,625,000

Estimated recoveries by depositors............................................................................................. 435,471,000

Estimated losses by depositors filing claims1............................................................................ 3,054,000

Estimated losses because of failure to file claims.................................................................... 100,000

1 1,476 depositors will lose an estimated $2,825,000 of their deposits in accounts which exceeded 

the limit of $5,000 insurance and which were not otherwise protected; and 2,963 depositors will lose 

about $229,000 in accounts which had been restricted or deferred prior to 1934 or were otherwise ineligible 

for insurance protection.

By the close of the year, 22,220 depositors with deposits totaling 

$100,000, who originally were fully protected by insurance but who had 

disappeared and could not be located and induced to claim their accounts within the time prescribed by law, were barred from further 

insurance protection. For the most part their accounts were “dormant" and had been abandoned or forgotten by their owners many 

years ago. Most of the accounts were small; many amounted to less 

than one dollar. Efforts were made to locate the depositors and to 

induce them to claim their deposits but without success. The Corporation mailed notices to their last known addresses, as shown by the

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PROTECTION OF DEPOSITORS 15

records of the banks, inserted advertisements in local papers, and 

posted notices in conspicuous public places. The Banking Act of 

1935 provides that, if any depositor who has been given at least three 

months' notice—either by mailing to his last known address or by 

publication—shall fail to claim his insured deposit within eighteen 

months after the appointment of the receiver for the closed bank, the 

rights of such depositor against the Corporation as insurer shall be 

barred.1

Method of providing insurance protection. The Corporation 

protects depositors in insured banks in financial difficulties (1) by 

advancing cash to the banks to make up deficiencies or to replace their 

poor assets in order to facilitate mergers with other banks, or (2) by 

paying off depositors, up to $5,000 per depositor, in insured banks 

which close without making adequate provision for payment of depositors. Disbursements under the two methods of dealing with 

insolvent or hazardous insured banks during the past seven years are 

presented in Table 3. A comparison of the protection given deposits 

under the two methods is shown in Table 4.

Table 3. DISBURSEMENTS OF THE CORPORATION IN CONNECTION WITH BANKS

in Fin a n c ia l D ifficu ltie s, 1934-1940

Number of banks Amount of disbursement 

(in millions)

Total

Placed in 

receivership

Merged Total

Insured

deposits

paid

Loans and 

assets 

purchased

T o t a l.................... 355 226 129 $216 $67 $149

1940................... 43 19 24 74 5 69

1939................... 60 32 28 68 26 42

1938................... 74 50 24 30 9 21

1937................... 75 50 25 19 12 7

1936................... 69 42 27 15 8 7

1935................... 25 24 1 9 6 3

1934................... 9 9 1 1

Detailed figures for 191+0— See Table 165, page 232, and Table 171, page 239.

Of the 355 banks aided or closed, 129 with deposits of $353 million 

were merged with no interruption of operations and without loss to 

depositors, while 226 banks with deposits of $86 million were placed 

in receivership.2 In all, nearly 98 percent of the deposits have been 

made available promptly to depositors, while payment of only 

2 percent of the deposits has been dependent upon the course of liquidation of the banks in receivership.

1 Depositors in insured banks placed in receivership prior to the Banking Act of 1935 can continue 

to claim protection from the Corporation until the termination of the receiverships of those banks.

2 While the depositors are protected against loss in the case of mergers, the stockholders are not and 

receive no collections on their investment until after the Corporation has been paid off in full with interest.

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16 FEDERAL DEPOSIT INSURANCE CORPORATION

T ab le 4. DEPOSITS PROTECTED IN INSURED BANKS

in F i n a n c i a l D i f f i c u l t i e s , 1934-1940

In all

closed

banks

In banks 

placed in 

receivership1

In banks 

merged2

All b a n k s.............................................................................. 97.8% 88.8% 100.0%

Banks w ith deposits o f—

$100,000 or less................................................................. 97.1 96.3 100.0

$100,000 to $250,000....................................................... 96.4 95.4 100.0

$250,000 to $500,000....................................................... 96.2 93.9 100.0

$500,000 to $1,000,000.................................................... 93.6 87.0 100.0

$1,000,000 to $2,000,000................................................ 98.1 92.9 100.0

$2,000,000 to $5,000,000................................................ 97.0 84.5 100.0

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

$10,000,000 to $50,000,000............................................ 93.3 82.4 100.0

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

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

2 With financial aid of Federal Deposit Insurance Corporation.

Procedure for providing insurance protection. In the case of 

mergers and consolidations the Corporation uses two principal types 

of contract: (1) it makes a loan taking as collateral all of the assets 

which are not taken by the absorbing bank; (2) it purchases assets 

with an agreement to return to the bank any unliquidated assets and 

any surplus cash when it has collected the purchase price of the assets 

plus expenses and interest at 4 percent. The amount of the disbursement by the Corporation is always the amount necessary to make up 

the deficiency between the value of assets taken over and the liabilities 

assumed by the absorbing bank. Under the terms of the contract 

with the bank which is aided, the Corporation is given control of the 

liquidation and disposition of the assets unacceptable to the bank 

assuming the deposits.

In banks which suspend and are placed in receivership 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. Ordinarily insured deposits are made 

available within from 10 to 14 days after the actual closing of the bank.1 

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 little greater

1 In some cases delays have been longer due to the legal provisions of some States which require 

a waiting period before appointment of a receiver. Dates of suspension and of commencing payment

of insured claims in banks placed in receivership during 1940 are given in Table 167, page 235.

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PROTECTION OF DEPOSITORS 17

burden upon depositors than is ordinarily involved in the closing of a 

deposit account in an operating bank. Figures regarding the payment 

of deposits in insured banks in receivership are given in Table 5.

Table 5. PAYMENT OF DEPOSITS OF INSURED BANKS PLACED IN

R e c e i v e r s h i p , 1934-1940

(In thousands of dollars)

Total

Paid by 

Dec. 31, 

19401

Unpaid on 

Dec. 31, 

1940

Deposits— total.................................................................. 85,905 79,837 6,068

Insured................................................................................ 67,408 67,047 361

Secured, preferred, and subject to offset................... 8,875 8,790 85

Other deposits in excess of $5,000................................ 8,491 3,507 4,984

Restricted or otherwise uninsured............................... 1,031 493 538

Unclaimed.......................................................................... 100 100

1 Payments made both by the Federal Deposit Insurance Corporation and by receivers. 

Detailed figures— See Tables 170 and 171, pages 238 and 239.

Losses and recoveries of the Corporation. Insurance losses are 

estimated at $46 million: 10 percent of total deposits and approximately 20 percent of total disbursements.1 In the banks placed in receivership, the Corporation estimates losses will be 23 percent of total 

deposits compared with losses of 7 percent of total deposits of the 

banks merged. Out of the $216 million of disbursements made during 

the past seven years in protecting depositors and assets, $80 million 

had been repaid to the Corporation by the end of 1940. This is less 

than one-half of the amount which it* expects to recover.2

Of the 226 insured banks placed in receivership from 1934 to 1940,

38 were completely liquidated by the end of that period. The liquidation of 13 of these banks was completed in 1940. Of the 38 banks, 

20 made full repayment to the Corporation on its subrogated claims, 

10 with interest. Of the 129 loan and purchase transactions, 19 were 

closed by December 31, 1940. In 18 of these cases all expenses incurred by the Corporation were repaid and collections were sufficient 

to repay 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. The distribution of banks according to 

the percent of repayment to the Corporation on its subrogated claims 

and on loans is shown in Table 6.

1 The figures of Corporation losses include expenses, for which the Corporation is not reimbursed, 

incurred by the Corporation in connection with payment of claims and liquidation of assets. They 

do not, of course, include ordinary administrative expenses of the Corporation.

2 Detailed figures are as follows:

Banks in Banks

receivership merged

Disbursements.......................................................... $67,047,000 $148,959,000

Estimated losses....................................................... 20,098,000 25,678,000

Collections to December 31, 1940....................... 29,637,000 49,845,000

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18 FEDERAL DEPOSIT INSURANCE CORPORATION

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. During the two 

years, 1939 and 1940, assets were purchased from the receivers of 11 

banks at a cost to the Corporation of $501,000. During 1940, assets 

amounting to $366,000 were purchased from the liquidators of 6 

banks. Detailed figures are shown in Table 166, page 234.

Table 6. R e p a y m e n t s t o t h e C o r p o r a t io n a s o f D e c e m b e r 31, 1940, 

o f D is b u r s e m e n t s i n I n s u r e d B a n k s i n F i n a n c i a l D if f i c u l t i e s

Liquidation completed Liquidation not completed

Total

number

of

banks

Banks in 

receivership

Banks

merged

Total

number

of

banks

Banks in 

receivership

Banks

merged

Total.............................................. 57 38 19 298 188 110

Repayments to Corporation of—

100 percent................................ 38 20 18 27 23 4

75 to 100 percent..................... 12 11 1 66 51 15

50 to 75 percent....................... 5 5 77 46 31

25 to 50 percent....................... 1 1 57 25 32

0 to 25 percent......................... 1 1 51 25 26

No repayments........................ 20 18 2

N o t e : In b a n k s p l a c e d in r e c e i v e r s h i p , r e p a y m e n t s c o n s i s t o f a m o u n t s received f r o m receivers 

by the Corporation on insured depositors’ claims to w h i c h it has been subrogated; in banks merged, 

repayments consist of amounts collected from disposal o f assets after deducting expenses incident to 

the transaction.

Receivership activities of the Corporation. At the close of 

1940, the Corporation was acting as receiver for 61 of the 188 insured 

banks in receivership. It was receiver for 12 national banks with 

deposits aggregating $10.7 million and for 49 State banks with deposits 

aggregating $11.4 million. The Corporation, as principal creditor 

through its subrogation to insured depositors' claims, maintains close 

contact with the receivers of the remaining 127 State banks with 

deposits at time of suspension of $56.8 million and assists as much as 

possible in promoting efficient liquidation of these banks.

Su p e r v is o r y A c t iv it ie s of th e C o r po r a tio n

As insurer of deposits in banks holding 97 percent of the deposits of 

commercial banks, the Corporation has the duty of preserving the 

safety of depositors' funds in the banks of the country. In addition 

to paying off depositors in closed banks, the Corporation endeavors to 

avoid the development of situations likely to lead to accumulation of 

losses in the banking system. The Corporation examines insured 

banks not subject to examination by the Office of the Comptroller of

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SUPERVISORY ACTIVITIES OF THE CORPORATION 19

the Currency or the Federal Reserve authorities, and reviews reports 

of examinations of insured banks conducted by those Federal agencies. 

It has the authority to terminate the insured status of any bank which 

continues to. engage in unsafe or unsound practices or in violations of 

law or regulations.

Insured banks not members of the Federal Reserve System must 

obtain the approval of the Corporation before reducing or retiring 

capital, and any insured bank must obtain the approval of the Corporation before assuming the deposit liabilities of, or consolidating or 

merging with, a noninsured bank. Noninsured banks which wish to 

become insured as banks not members of the Federal Reserve System, 

and insured banks not members of the Federal Reserve System which 

wish to establish or relocate branches, must obtain the approval of the 

Corporation. The Corporation is required to issue regulations regarding the payment of interest on deposits in insured banks not 

subject to the provisions of similar regulations issued by the Board of 

Governors of the Federal Reserve System. The Corporation may 

issue such other regulations as are necessary to carry out its functions.

Actions regarding banks in an unsound condition. The

Corporation has the authority to terminate the insured status of any 

insured bank which continues to engage in unsafe or unsound practices 

or in violations of law or regulations. The Corporation uses this power 

as an ultimate sanction in its efforts to maintain sound operating conditions. For the most part the Corporation attempts by informal 

action jointly with the appropriate supervisory authority to secure 

correction of unsound situations and resorts to use of its ultimate 

powers only as a last resort. Knowledge of the existence of the power 

of the Corporation to terminate the insured status of a bank makes the 

Corporation's informal efforts to correct unsatisfactory situations more 

successful than might otherwise be the case. Where corrections do 

not appear to be possible or likely, the Corporation prefers to have the 

bank closed or merged with a sounder bank rather than to terminate 

the bank's insured status, because, in the case of a State bank, the 

bank might continue to operate and be a threat to the integrity of the 

banking system.

During 1940, nearly 100 insured banks considered to be hazards to 

the banking system were eliminated. Of these banks, 43 suspended 

operations or were merged with the financial aid of the Corporation;

39 were absorbed or succeeded by other insured banks without financial aid by this Corporation; and 11 went into voluntary liquidation 

and paid off their depositors. Many of these hazardous banks held 

large amounts of substandard assets, many had inadequate capital, 

and many of them were operated by incompetent, untrustworthy, or 

self-serving managements.

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

At the close of the year, less than 20 banks with deposits of about 

$25 million were still in operation which, on the basis of information 

available to the Corporation, were considered to be cases involving 

imminent risk of loss to the Corporation. More than 100 other banks, 

while not involving imminent risk of loss to the Corporation, were 

considered to be problem cases requiring special attention to avoid 

further deterioration. Insofar as its supervisory powers permit, the 

Corporation is giving special attention to all of these banks. In some 

cases efforts are being made to strengthen the banks through introduction of additional capital, conservation of earnings, gradual elimination of undesirable assets, and improvement of bank management; 

in some cases negotiations are in process for loans from the Corporation to finance mergers with other banks; in other cases steps are 

being taken to institute formal proceedings to terminate insured 

status for continuing to engage in unsafe or unsound practices.

T ab le 7. ACTION TO TERMINATE INSURED STATUS OF BANKS CHARGED

w i t h E n g a g in g in U n s a f e o r U n s o u n d P r a c t ic e s o r V io l a t io n s

o f L a w o r R e g u l a t io n s , 1936-1940

Total

Cases in 1940

cases

1936-19401

Pending 

beginning 

of year2

Started

during

year

Total banks against which action was taken................... 97 11 19

Gases closed during period................................................... 90 10 13

Corrections m ade..................................................................... 15 2

Insured status terminated for failure to make corrections3 3

Banks suspended4..................................................................... 34 3 1

Banks absorbed or succeeded by other banks5................. 38 5 12

Cases pending December 31, 1940...................................... 7 1 6

Deferred pending consummation of recapitalization or 

merger plans.......................................................................... 4 1 3

Correction period not expired............................................... 1 1

Otherwise deferred.................................................................... 2 2

1 No action to terminate insured status of any bank was taken before 1936. In 3 cases where 

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

2 Excludes 1 bank against which action pending at the beginning of 1940 was discontinued in order 

that a new action could be started.

3 One of these 3 banks suspended 4 months after its insured status was terminated.

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

not effective before the banks suspended.

6 In all except 1 of the 38 cases the Corporation made loans to facilitate the mergers or reorganizations.

Detailed figures— See Table 175, page 246.

Unsafe and unsound banking practices. During the existence 

of Federal deposit insurance and up to the close of 1940 the Corporation took action against 97 banks for unsafe or unsound practices or 

violations of law or regulations, securing corrections in 15 cases, and 

terminating the insurance of 3 banks.1 Seventy-two banks suspended

1 Of the 3 banks whose insurance was terminated, 1 subsequently suspended operations.

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SUPERVISORY ACTIVITIES OF THE CORPORATION 21

operations or were absorbed by other banks before action to terminate insurance became effective. Seven cases were pending at the 

close of the year. The figures are summarized in Table 7.

During 1940, proceedings were initiated against 19 banks and continued against 11 banks whose cases were pending at the opening of 

the year. Of the 30 cases, 23 were completed and 7 were pending at 

the close of the year. In the completed cases, 2 banks made the necessary corrections, 4 suspended operations, and 17 were absorbed or 

succeeded by other banks with financial aid from the Corporation.

A list of the unsafe and unsound practices and violations of law or 

regulations in the case of the 19 banks against which action was 

taken during 1940 is given in Table 8.

T a b l e 8 . U n s a f e OR UNSOUND BANKING PRACTICES AND VIOLATIONS O

L a w o r R e g u l a t i o n s C h a r g e d A g a in s t 19 B a n k s

b y t h e C o r p o r a t i o n D u r i n g 1940

Type of practice or violation of banks Case identification

charged letters

Capital:

Operation of bank with seriously impaired capital.................. 19

Management and general practices:

Lax credit, loan, and collection policies...................................... 7

Carrying of losses in bank’s assets, failing to disclose true

statement of condition................................................................. 18

Operation of bank by weak, hazardous, untrustworthy, or

incapable management................................................................ 7

Lax investment policy..................................................................... 7

Unwarranted and excessive loans to directors, officers, employees, or their interests........................................................... 4

Loan and investment practices:

Unwarranted and excessive volume of past due loans or

nonincome-producing assets....................................................... 10

Carrying of unwarranted and excessive amounts of other real

estate owned and potential other real estate......................... 10

Excessive volume of assets in Classifications II and III or

generally unsatisfactory asset condition................................. 18

Progressive deterioration of assets................................................ 12

Inadequate credit data and financial statements.....................

Unwarranted and excessive extensions of credit in violation

of law ...............................................................................................

Carrying of other real estate in excess of maximum time

permitted by law ..........................................................................

Investment in and retention of assets in contravention of

existing laws or regulations........................................................

Unwarranted and excessive liability in connection with a 

certain property. ..........................................................................

Miscellaneous:

Poor or rapidly declining earnings................................................ 7

Unsatisfactory administration of trust department................. 2

a, b, c, d, e, f, g, h, i, j, k 

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

b, c, d, m, n, p, r

a, b, c, d, f, g, h, i, j, k, 

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

e, f, m, n, p, r, s

b, c, d, e, m, n, p

b, m, n, s

c, d, g, h, i, j, m, n, p, s

a, b, c, d, g, i, j, k, 1, m

a, b, c, d, f, g, h, i, j, k, 1, 

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

a, b, d, f, g, i, j, k, 1, o, q,

g, h, i, j, n, p, 

i> 1

Detailed and back figures— See Table 176, page 247.

The 97 banks were engaged not merely in one, but in many unsafe 

or unsound practices or violations of law or regulations, and continued 

such practices or violations notwithstanding repeated criticisms in 

successive examinations. Nearly all of them had operated for some

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

time with seriously impaired capital. A large proportion of them held 

an excessive volume of substandard assets. Most of them were 

operated by incompetent or self-serving managements.

Bank examinations. From the beginning of its operations in 

September 1933 to the close of 1940, the Corporation conducted approximately 62,000 examinations of banks. In addition, the Corporation has conducted examinations of trust departments of the banks.

All of the examinations of banks, except 155, were examinations 

of insured banks not examined by any other Federal bank supervisory 

authority.1 The 155 examinations were made in connection with 

actions against banks believed to be engaged in unsafe or unsound 

practices or 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 to 

continue their insured status.

During 1940, the Corporation conducted the following examinations 

of banks:

7,026 regular examinations of insured State banks subject 

to examination by the Corporation;

151 additional examinations of insured banks subject to 

examination by the Corporation believed to be engaged in 

unsafe or unsound practices, or to be insolvent, or otherwise 

to require special attention;

120 examinations and investigations of banks applying for 

admission to insurance (including 20 banks wishing to withdraw from the national or Federal Reserve systems but to 

continue to be insured2), or for permission to establish or 

change location of branches;

3 examinations of insured banks not regularly subject to 

examination by the Corporation but believed to be engaged 

in unsafe or unsound practices or to be insolvent, and 1 examination of a national bank in connection with a proposed 

consolidation not requiring financial assistance from the 

Corporation;2

1,044 examinations of trust departments of banks.

In addition to these examinations the Corporation reviewed 7,036 

reports of examinations of insured banks and 2,135 reports of examinations of trust departments made by other Federal agencies.

1 Insured national banks are examined by the Comptroller of the Currency and insured State banks 

members of the Federal Reserve System by the Federal Reserve banks.

2 Permission to conduct these examinations was granted by the Comptroller of the Currency in 

the case of national banks and by the Board of Governors of the Federal Reserve System in the case 

of banks members of that system.

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SUPERVISORY ACTIVITIES OF THE CORPORATION 23

Admissions to and terminations of insurance. The Corporation approved the application for admission to insurance of 61 banks 

during 1940. In addition, 12 banks became insured through action 

of other Federal authorities. Of the 61 banks approved for admission 

by the Corporation, 26 were new banks or banks replacing other banks 

or other financial institutions, 13 were banks in operation at the beginning of the year, and 22 were banks reorganizing or converting 

from national to State banks or withdrawing from the Federal Reserve 

System.1 An analysis of applications approved by the Corporation is 

presented in Table 172, page 240.

The insurance of 181 banks was terminated during the year.2 The 

terminations reflected the absorption of banks by other operating 

banks, the failure of some banks, and the voluntary liquidation of 

others. As indicated previously, approximately one-half of these 

banks were in an unsatisfactory condition, and their discontinuance 

eliminated weak spots in the banking situation.3 An analysis of 

changes in the number of insured banks by years, January 1, 1934, to 

December 31, 1940, is given in Table 104, page 104.

Establishment of branches. During 1940, the Corporation 

approved the applications of 38 banks for establishment of 41 branches. 

Forty-seven new branches were established by 38 banks without 

Corporation approval. These banks were national and State banks 

members of the Federal Reserve System and thus were not required 

to obtain Corporation approval for establishment of branches.

Capital adjustments of banks. During the year 1940, applications for the retirement of capital obligations held by the Reconstruction Finance Corporation, filed by banks required by law to secure 

approval of the Federal Deposit Insurance Corporation, were approved 

in amounts aggregating $15.2 million and disapproved in amounts 

aggregating $1.9 million.4 These applications were filed by 1,645

banks. Applications for the retirement of capital obligations held by 

others than the Reconstruction Finance Corporation were approved 

in amounts aggregating nearly $1.0 million. The Corporation approved the reduction of par or book value, but not retirable value, of 

preferred capital obligations (held chiefly by the Reconstruction 

Finance Corporation) to the extent of $1.3 million in 9 banks. It 

approved the reduction of the par value of common stock to the extent 

of $3.9 million in 33 banks. Further details will be found in Tables 173

and 174, pages 242 and 244.

1 In addition, the Corporation approved the retention of insured status of 1 bank which had previously filed notice of withdrawal from insurance and the reorganization plan of 1 bank which had been 

a member of the Federal Reserve System and was readmitted to that system.

2 This figure includes 37 banks which were succeeded by other insured banks.

3 See page 19.

4 National banks and banks in the District of Columbia, and State banks members of the Federa 

Reserve System, file their applications with the Comptroller of the Currency, and the Federal Reserve 

banks, respectively, and are not required to have the approval of the Federal Deposit Insurance Corporation.

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24 FEDERAL DEPOSIT INSURANCE CORPORATION

From August 23, 1935, to the close of 1940, the Corporation has 

taken action on approximately 7,500 formal applications from 3,059 

banks to retire or reduce capital.1 The great bulk of these applications were in connection with the retirement of preferred capital 

obligations held by the Reconstruction Finance Corporation.

Approval of assumption or release of deposits. Actions of the 

Corporation on applications of insured banks to assume deposit liabilities of noninsured banks or of other noninsured financial institutions, 

to purchase assets in conjunction with assumption of liabilities of 

banks in liquidation, or to pay or release deposits which had been 

subordinated or restricted as to payment prior to August 23, 1935, are 

summarized in Tables 173 and 174, pages 242 and 244.

Reports from banks. As required by law each insured bank 

submitted semi-annual statements of its daily deposits for the purpose 

of determining the amount of assessment to be paid for deposit insurance.

The Corporation called for reports of assets, liabilities, and capital 

accounts as of June 29 and December 31, 1940, and for reports of 

earnings, expenses, and disposition of profits for the calendar year 

1940, from each insured bank required by law to submit such reports 

to the Corporation.2 The forms used for the reports of assets, liabilities, and capital accounts were those adopted by the three Federal 

bank supervisory agencies and by a number of State authorities.

In connection with the June 29 call, the Corporation asked the 

commercial banks to submit information regarding their agricultural 

loans on a supplementary schedule, issued at the request of the Department of Agriculture.

The banks were also requested to submit, in connection with the 

December 31 call, a supplementary schedule showing the amount of 

instalment consumer loans outstanding. This information was requested because of the interest of the Federal bank supervisory 

agencies, the Department of Commerce, bankers, and others, in the 

scope of operations of banks in the field of consumer financing.

Identical supplementary schedules relating to agricultural loans 

and consumer instalment loans were also used by the other Federal 

bank supervisory agencies. These schedules were issued in accordance 

with the practice of the three supervisory agencies of seeking to obtain 

for other agencies such information as may reasonably be required, 

thus avoiding duplication and confusion in the reporting, collection, 

and tabulation of data relating to banks.

1 August 23, 1935, was the effective date of the law requiring Corporation approval of retirement 

of capital of insured banks not subject to the supervision of the other Federal bank supervisory agencies

2 Banks required to submit reports to the Corporation are the insured banks not members of the 

Federal Reserve System except those in the District of Columbia and national banks in the possessions 

which report to the Comptroller of the Currency.

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LEGISLATION DURING 1940 AFFECTING DEPOSIT INSURANCE 25

Each insured bank required to submit reports of assets, liabilities, 

and capital accounts to the Corporation and which operated more than 

one banking office was also requested to report to the Corporation, as 

of June 29, 1940, the name and location, and the amount of deposits, 

of each of its banking offices.

The data reported have been summarized and published in pamphlet 

form or are given in this Annual Report.

L e g is la t io n D u r in g 1940 A f f e c t i n g D e p o s it In su r a n c e

Federal legislation. The Federal statute which provides penalties for those committing the offense of robbery of a bank was added 

to and broadened by Congress in 1940. This action consisted of a new 

subsection providing a penalty against anyone who might receive, 

possess, conceal, store, barter, sell, or dispose of anything of value 

knowing the same to have been taken from an insured bank in violation 

of law. The text of the amendment adopted in 1940 is given on 

page 77.

State legislation directly affecting the operations of the

Corporation. During 1940 only nine State Legislatures convened in 

regular session. The Legislatures of Kentucky, Louisiana, Mississippi, 

and Virginia held their regular biennial sessions. Regular annual 

sessions were held in New Jersey, New York, Rhode Island, and South 

Carolina. The regular quadrennial session for Alabama convened in

1939, recessed in June of that year and reconvened in 1940. In all of 

the States named there had theretofore been adopted either a part or 

all of the suggestions made by this Corporation for certain enactments 

to provide for a more effective coordination of the operations of the 

State banking systems and the Federal deposit insurance system.

In Kentucky, the banking law was amended to require the Director 

of the Division of Banking to accept examinations made of a trust 

department in combined banks and trust companies by examiners of 

the Federal Deposit Insurance Corporation or of the Federal Reserve 

System, or by a Certified Public Accountant, if the report of such 

audit or examination was furnished him.

In New York, an act was passed facilitating application of the 

Federal Deposit Insurance Corporation’s loan and merger powers to 

insured banks in financial difficulties operating under the jurisdiction 

of the Superintendent of Banks of that State.

In Rhode Island, the Director of Business Regulation was authorized 

to accept, in lieu of his own examinations, reports of examinations 

conducted by the Federal Deposit Insurance Corporation or the 

Federal Reserve Bank, and to give those Federal agencies access to

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26 FEDERAL DEPOSIT INSURANCE CORPORATION

reports of examinations in the office of the Director of Business 

Regulation.

In South Carolina, the act adopted in 1939, requiring, among other 

things, the paid-in capital to be sufficient to qualify an applicant bank 

for membership in the “ Federal Deposit Insurance Fund” before a 

charter could be issued to it, was amended so that existing charters 

might be transferred to new owners to operate a bank with new personnel provided the public interest would be promoted by such transfer.

State legislation relating to bank supervision. In addition to 

the legislation mentioned above the following subjects were dealt with 

in legislation during 1940 affecting banking and bank supervision:

Amount of indebtedness permitted to be incurred by

officers of banking institutions and others.................Kentucky, Virginia

Authorized powers of banking institutions........................................Virginia

Ratio of deposits to capital and surplus of banks....................... Mississippi

Providing a method to calculate value of bank stock for

taxation.........................................................................................New Jersey

Security for bankruptcy fund deposits authorized in same

manner as with national banks................................................. New Jersey

Escheat or transfer of unclaimed deposits or

amounts....................................................................... New York, Kentucky

Purchases of or loans upon real estate............................................... Virginia

Functions of banking department................................................... Louisiana

Penalizing bank officials for receiving deposits or creating 

debts knowing bank insolvent and making them individually responsible therefor.................................................... Louisiana

Small loans and instalment loans....................................................... Virginia

Authorizing establishment of life insurance departments

by savings banks........................................................................... New York

Liquidation of banks and voluntary dissolutions......................... New York

Bank examinations............................................................................New York

Absolute liability of trust companies as “ trustee of a

trust of any kind” ......................................................................... New York

Change from national to State banking institution and 

from State to national for consolidation with national bank.....................................................................................New York

Preferred shares with a retirable value greater than 

amount received in payment for the shares authorized 

by a banking institution assuming deposits of another banking institution............................................................. New York

Security for deposit of State and public funds and trust 

funds.................................................................................................Louisiana

Reorganization of Banking Department......................................... Louisiana

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OPERATING STATEMENT OF THE CORPORATION 27

Constitutional amendment to exempt from taxation, 

among other things, value of bank shares to extent 

represented by surplus, undivided profits, etc., was 

defeated in referendum..................................................................Louisiana

O p e r a t in g S t a t e m e n t of t h e C o r p o r a tio n

Organization and staff. No changes in the directorship of the 

Corporation occurred during 1940. Mr. Leo T. Crowley continued as 

Chairman; Mr. Phillips Lee Goldsborough and Mr. Preston Delano, 

Comptroller of the Currency, continued as Directors throughout the 

year.

The personnel increased by 443 during the year and on December 31, 

1940, consisted of 1,927 officers and employees, of whom 522 were 

located in the main office in Washington and 1,405 in the field and at 

regional offices. The number of officers and employees in each division 

of the Corporation is given in Table 9.

Table 9. OFFICERS AND EMPLOYEES OF THE CORPORATION, DECEMBER 31, 1940

Total

Officers and 

administrative, 

supervisory, 

and technical 

employees

Clerical,

stenographic

and

custodial

employees

T o t a l................................................................................................... 1,927 726 1,201

Washington office— total...................................................... 522 U 7 375

District and field offices— total............................................ 1,U05 579 826

Directors and aides...................................................................... 23 8 15

Legal Division................................................................................ 37 15 22

Division of Examination............................................................. 609 445 164

Washington office........................................................................ uo 20 20

District and field offices............................................................ 569 U25 1 U

Division of Liquidation............................................................... 998 224 774

Washington office........................................................................ 162 70 92

District and field offices........................................................... 836 15 U 682

Division of Finance and Administration................................ 201 15 186

Division of Research and Statistics......................................... 59 19 40

The increase in personnel during the year occurred chiefly in the 

Division of Liquidation although practically every division showed 

some expansion. The increase resulted from the expansion of the work 

of the Corporation in connection with the payment of insured deposits 

in insured banks, liquidation of banks for which the Corporation was 

receiver, and the liquidation of assets purchased by the Corporation 

or taken over as collateral on loans made by it.

Effective December 31, 1940, the legal section of the Division of 

Liquidation was consolidated with the Legal Division and the attorneys and aides in that section transferred to the Legal Division.

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28 FEDERAL DEPOSIT INSURANCE CORPORATION

The organization chart of the Corporation as of December 31, 1940, 

is shown on page 5.

Income and expenses. Total income of the Corporation for the 

entire period of its existence through December 31,1940, amounted to 

$274.5 million, of which $211.1 million were received from assessments 

paid by insured banks and $63.4 million were from income and profits 

on investments. Administrative expenses of the Corporation were 

$22.0 million and charges on account of insurance expenses and estimated losses were $45.8 million. Accumulated surplus of the Corporation on December 31, 1940, was $206.7 million. The chief items of 

income and expense of the Corporation for each year since beginning 

operations are shown in Table 10. A detailed statement of income 

and expenses for the year 1940 is given in Table 11.

Table 10. INCOME AND EXPENSES OF THE CORPORATION

S in c e B e g i n n i n g O p e r a t i o n s 1

(In millions of dollars)

Total 1940 1939 1938 1937 1936 1935 1933-342

Income— total............... 274.5 55.9 51.2 47.8 48.1 43.8 20.7 7.0

Deposit insurance assessments3 ................. 211.1 46.2 40.7 38.3 38.8 35.6 11.5

Investment income and 

profits......................... 63.4 9.7 10.5 9.5 9.3 8.2 9.2 7.0

Expenses— total............. 67.8 17.3 19.1 8.1 7.3 6.0 5.6 4.4

D e p o s it in s u r a n c e 

losses and expenses.. 45.8 13.7 15.7 5.1 4.6 3.5 2.9 .3

A d m in is tr a tiv e e x ­

penses4 ........................ 22.0 3.6 3.4 3.0 2.7 2.5 2.7 54.1

Net income added to

surplus......................... 206.7 38.6 32.1 39.7 40.8 37.8 15.1 2.6

1 Figures of total expenses, deposit insurance losses and expenses, and net income added to surplus 

for years prior to 1940 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.

Total income for the calendar year 1940 was $55.9 million, of which 

$46.2 million represented assessments and $9.7 million interest on 

investments— net after provision for amortization of premiums, 

interest on loans and subrogated claims, and profits on securities sold. 

Total losses and expenses for the year amounted to $17.3 million, of 

which $13.7 million were insurance losses and expenses and $3.6 million 

were administrative expenses and other charges. The surplus of the 

Corporation was increased by $43.3 million during the year, reflecting 

net income of $38.6 million and adjustments to surplus, applicable to 

prior periods, of $4.6 million.

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OPERATING STATEMENT OF THE CORPORATION 29

T ab le 11. INCOME AND EXPENSES OF THE FEDERAL DEPOSIT INSURANCE

C orporation , Cale n d a r Y ea r 1940

Income:

Deposit insurance assessments............................................................. $ 46,206,023.63

Interest earned and profit on sales of securities (less provision for

amortization of premiums)............................................................... 9,654,479.29

Interest received on loans and subrogated claims of depositors.. 48,934.61

Total income.................................................................... $ 55,909,437.53

Expenses:

Deposit insurance losses and expenses............................................... $ 13,670,357.06

Administrative expenses (see below).................................................. 3,501,533.37

Furniture, fixtures, and equipment purchased and charged off. . . 92,694.39

Total expenses................................................................. $ 17,264,584.82

Net income added to surplus.................................... $ 38,644,852.71

Surplus December 31, 1939:

As previously reported........................................................................... $163,411,165.03

Plus— net adjustments applicable to periods prior to Jan. 1, 1940 4,629,256.49

Surplus as adjusted December 31, 1939.......... $168,040,421.52

Surplus December 31, 1940......................................... $206,685,274.23

DISTRIBU TION OF ADM IN ISTRATIVE EXPENSES

Salaries........................................................................................................................................... $ 2,593,155.35

Professional services................................................................................................................... 21,753.29

Services of other governmental agencies............................................................................... 1,492.66

Transportation............................................................................................................................ 123,511.58

Subsistence................................................................................................................................... 396,343.38

Office rental.................................................................................................................................. 248,929.07

Printing, stationery, and supplies........................................................................................... 87,731.47

Postage, telephone, and telegraph.......................................................................................... 36,530.42

Insurance and fidelity bond premiums.................................................................................. 1,254.54

Safekeeping and service charges on securities...................................................................... 170.29

Subscriptions................................................................................................................................ 6,385.87

Equipment rental........................................................................................................................ 7,140.68

Repairs and alterations................................................................................................... .. 20,514.18

Transportation of things........................................................................................................... 2,761.40

Miscellaneous............................................................................................................................... 3,794.95

$ 3,551,469.13

Less:

Miscellaneous income and other credits applicable to reduction of

administrative expenses..................................................................... $ 26,941.62

Inter-departmental expense transfers................................................ 22,994.14 $ 49,935.76

A dm inistrative expenses for th e year endin g D ecem ber 31,

1940........................................................................................................ $ 3,501,533.37

Claims held by Corporation against suspended and merged

banks. On December 31, 1940, the Corporation held subrogated 

and pending claims of depositors against closed banks, loans to merging 

banks made to avert or reduce losses, and other assets acquired through 

bank suspensions and mergers amounting at face value to a total of 

$135.8 million. The reserve for losses against these claims and assets 

amounted to $43.6 million on December 31, 1940, and the assets were 

carried at a net or appraised value of $92.2 million.1

1 The reserve for losses of $43.6 million given above is less than the amount of estimated losses of

$45.8 million, given in Table 1 and on pages 13 and 17, by the amount of expenses and realized losses

charged off.

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30 FEDERAL DEPOSIT INSURANCE CORPORATION

As soon as a disbursement in connection with a closed or merged 

bank is made the Corporation sets up a reserve to cover the loss which 

its appraisals indicate will result from the transaction. This reserve 

is deducted from the surplus and appropriate asset accounts in presenting the statement of condition. Periodically, the assets purchased 

or held as collateral are reappraised, and the progress of the liquidation 

of banks in receivership is reviewed. Reserves are then revised in 

accordance with the information obtained.

T ab le 12. 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, 1940, a n d D e c e m b e r 31, 1939

1940 1939

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 insured banks to avert deposit insurance losses. 

Assets purchased from merging insured banks, to avert deposit 

insurance losses, under agreements to return any excess recovery

$ 36,012,128.94

360,512.94

58,981,488.18

39,360,309.98

1,098,827.16 

$135,813,267.20 

43,641,093.81 

$ 92,172,173.39

20,460,790.83

384,513,854.80

1.00

61,872.29

$497,208,692.31

$ 38,798,794.90

2,796,026.59

57,366,066.44

Assets purchased from merging insured banks and receivers of

802,991.62 

$ 99,763,879.55 

35,533,139.86 

$ 64,230,739.69

28,276,433.37

363,542,301.83

1.00

64,251.66

$456,113,727.55

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............................................ $ 90,810.45

672,703.30

360,512.94

1,696.48

362.41

$ 289,113.00

209,678.02

2,796,026.59

2,583.76

Earnest money deposits and collections in suspense, arising from 

subrogated claims of depositors, loans to merging insured banks, 

and assets purchased..............................................................................

Net balances of depositors in closed insured banks pending settlement or not claimed— contra...............................................................

Unused credits for assessments paid to temporary Federal

Deposit Insurance funds and prepaid assessments..............

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

Reserve for administrative expenses.................................................... 11,250.72 

94,353.44 

$ 3,403,005.53

Reserve for deposit insurance expenses.............................................. 97,775.51 

Total liabilities.................................................................... $ 1,223,861.09

CAPITAL

Capital stock:

United States............................................................................................... $150,000,000.00

139,299,556.99

$289,299,556.99

206,685,274.23

$495,984,831.22

$150,000,000.00

139,299,556.99

$289,299,556.99

163.,411,165.03

$452,710,722.02

Federal Reserve banks...............................................................................

Surplus— (see Table 11)..............................................................................

Total capital.........................................................................

Total liabilities and capital............................................ $497,208,692.31 $456,113,727.55

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OPERATING STATEMENT OF THE CORPORATION 31

Assets and liabilities. Condensed balance sheets of the Corporation as of December 31, 1939, and December 31, 1940, are given in 

Table 12.

Audit. In accordance with the Corporation's policy of having an 

annual independent audit, the accounts as of June 30, 1940, were 

audited by Arthur Andersen & Co. The balance sheet of the Corporation as of that date, together with the auditor's certificate, is given 

in Table 13.

T a b le 13. AUDITORS’ REPORT 

ARTHUR ANDERSEN & CO.

67 W a l l Sthf.bt

New Y o rk

To t h e B o a r d o f 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 examined the balance sheet of the Federal Deposit Insurance Corporation as of June 30, 1940, 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 have 

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 have reviewed the system of internal 

control and the accounting procedures by methods 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 sub collateral thereto, and evidences of ownership of assets purchased from insured banks, which for the most part were held by 

Liquidating Agents of the Corporation at June 30, 1940, 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 or assets purchased 

prepared by the Corporation’s examiners, covering their verification of such items.

In our opinion the accompanying balance sheet fairly presents the financial 

position of the Federal Deposit Insurance Corporation at June 30, 1940, 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 5, 1940.

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T a b le 13. A u d it o r s' R e p o r t— C ontinu ed

FEDERAL DEPOSIT INSURANCE CORPORATION 

BALANCE SHEET— JUNE 30, 1940

ASSETS

Cash on hand and on deposit. $ 19,368,725.53

United States Government Securities and accrued interest receivable thereon:

United States Government securities, 

$3^5,567,350 principal amount— 

stated at cost ($31+8,537,836.18) less

reserve for amortization of premiums

{$1,339,203.65)..................................

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

Assets acquired through bank suspensions and mergers (less collections) :

Subrogated claims of depositors

against closed insured banks..........

Net balances of depositors in closed 

insured banks, pending final settlement or not claimed, to be subrogated when paid— per contra.........

Loans to merging insured banks to 

reduce or avert deposit insurance 

losses, including recoverable liquidation expenses (Note 1 )................

Assets purchased from merging insured banks to reduce or avert 

deposit insurance losses, including 

recoverable liquidation expenses, 

under agreements to return any 

excess recovery to selling banks

(Note 1 )................................................

Assets purchased from merging insured banks to reduce or avert

deposit insurance losses...................

Assets purchased from receivers of 

closed insured banks........................

Less— Reserve for losses......................

Funds deposited for consummation

of com m itm ent to purchase

assets from an insured bank

upon its fulfillment of certain

conditions (Note 2 )........................

$347,198,632.53

1,291,040.34

$ 38,650,536.93

805,955.39

63,843,041.79

25,759,605.82

677,987.20

419,383.53

$130,156,510.66

39,209,069.65

348,489,672.87

90,947,441.01

16,690,481.49

LIABILITIES

Liabilities:

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................................................................................

Reserve for loss on assets to be acquired under terms of commitment to purchase assets from an insured bank upon its

fulfillment of certain conditions (Note 2 )................................

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, 191+0,

amounted to approximately $27 billion):

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, 1939............................. $135,182,610.78

Net increase in surplus for the year 

ended June 30, 1940—

Income—

Deposit insurance assessments. . . . $ 43,265,380.46 

Interest earned and net profit from 

sales of United States Government securities (less provision for

amortization of premiums) ............ 9,504,443.69

Interest received on settled loans to 

merging insured banks and subrogated claims of depositors........ 45,384.15

$ 52,815,208.30

$ 269,236.27

505,025.43

805,955.39

6,302.30

140,267.91

4,275,000.00 

$ 6,001,787.30

FEDERAL DEPOSIT INSURANCE CORPORATION

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Furniture, fixtures, and equipment

— Nominal value................................ 1.00

Expenses—

Deposit insurance losses and expenses (Note § ).............................. $ 4,258,546.70

Administrative expenses................... 3,370,466.47

Furniture, fixtures, and equipment

purchased........................................ 104,231.62

$ 7,733,244.79

Net increase in surplus for the year

ended June 30, 1940..................... $ 45,081,963.51

Deferred charges and mlscellaneo:- Balance, June 30, 1940..................... . . . 180,264,574.29

receivables......................................... 69,596.68 Total capital stock and surplus: 469,564,131.28

$475,565,918.58 $475,565,918.58

NOTES:

(1) Loans to merging insured banks are evidenced by demand notes bearing interest at the rate of 4% per annum and the Corporation is entitled to a return of 4% per 

a r m n m with respect to its investments in assets purchased from merging insured banks under agreements to return any excess recoveries to the selling banks. Accrued interest 

receivable and accrued allowable return on the above at June 30, 1940, aggregated $5,143,194.39, which was carried by the Corporation in memorandum accounts and is not 

included in the foregoing balance sheet.

At June 30, 1940, the Board of Directors had authorized the purchase of assets, under special agreements, from four insured banks, subject to certain terms and conditions, 

in amounts not to exceed $2,600,000.00 in the aggregate.

(2) As of June 30, 1940, the Corporation had deposited $16,690,481.49 in a special account for the purchase of assets from an insured bank, subject to certain terms and 

conditions. A reserve was provided as of June 30, 1940, for the estimated loss of $4,275,000.00 in the liquidation of these assets and the surplus of the Corporation was reduced 

by this amount by the inclusion of a provision for this loss with other deposit insurance losses and expenses. The purchase of these assets was consummated on September 14,

1940, under an agreement to return any excess recovery to the selling bank.

(3) 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 credit of $6,604,822.86) have been transferred to the related 

expense account. Deposit insurance losses and expenses shown on the foregoing balance sheet include the following:

Amounts with respect to assets acquired through bank suspensions and mergers which occurred in the year ended June 30, 1940............... $ 6,588,369.56

Provision for loss on assets to be acquired under terms of commitment to purchase assets from an insured bank (See Note 2 )...................... 4,275,000.00

$10,863,369.56

Less— Adjustments of deposit insurance losses and expenses with respect to assets acquired through bank suspensions and mergers which

occurred in prior years.............................................................................................................................................................................................................. 6,604,822.86

T otal............................................................................................................................................................................................................................. $ 4,258,546.70

(4) 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 $974,601,472.83.

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 Re- CO 

construction 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 CO 

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.

OPERATING STATEMENT OF THE CORPORATION

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Federal Reserve Bank of St. Louis
PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

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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 

banking offices in operation in the United States and possessions was 

reduced from 18,095 on December 31,1939, to 17,992 on December 31,

1940, a net reduction for the year of 103. The number of offices 

of branch banking systems increased by 51 over the year period, 

while the number of unit banks declined by 154. The changes during 

1940 in the number of unit banks, the number of banks operating 

branches, and the number of branches are shown in Table 14.

Table 14. NUMBER OF COMMERCIAL BANKING OFFICES IN THE

U n i t 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 31, 1940, a n d D e c e m b e r 31, 1939

Dec. 31, 

1940

Dec. 31, 

1939 Change

T otal o ffice s ...................................................................................... 17,992 18,095 -103

Banks............................................................................................... 14,399 14,534 -135

Unit banks.................................................................................. 18,1+25 13,579 -15U

Banks operating more than one office................................. 97 It 955 + 19

Branches or additional offices.................................................... 3,593 3,561 + 32

Detailed figures for 191+0— See Table 103, page 96.

Unit banks comprise about three-fourths of the commercial banking 

offices of the country, and hold nearly one-half of the deposits. Unit 

banks predominate in the smaller centers and in centers in which 

there are less than nine banking offices; on June 29, 1940, over 

four-fifths of the banking offices located in centers of less than 10,000 

were unit banks. In contrast, branches predominate in the larger 

centers; in centers with a population of 50,000 or more, over two-thirds 

were offices of banks operating branches. Seven-eighths of the 

branches in these larger centers were located in the same center as 

the head office. Comparisons of unit and branch banks according 

to population of center and number of banking offices in the center 

are shown in Table 15.

Insured banks. The Federal Deposit Insurance Corporation was 

insuring deposits in 13,442 of the 14,399 commercial banks in operation 

on December 31, 1940. These banks held $63 billion of deposits, 

or 97 percent of the deposits of all commercial banks. The number 

of commercial banks insured was reduced by 96 during the year, 

representing the excess of terminations of insurance through merger, 

liquidation, and suspension over admissions to insurance of newly 

organized or previously noninsured banks.

37

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38 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 15. PERCENTAGE OF COMMERCIAL BANKING OFFICES IN OPERATION

B e l o n g in g t o B r a n c h B a n k i n g S y s t e m s , J u n e 29, 1940 

i n c e n t e r s g r o u p e d a c c o r d in g t o p o p u l a t i o n

AND NUMBER OF BANKING OFFICES IN CENTER

In all

centers

In centers with population of—

Less

than

1,000

1,000

to

10,000

10,000

to

50,000

50,000

or

more

In all ce n te rs ...................................................

In centers w ith —

1 banking office..............................................

2 banking offices............................................

3 to 8 banking offices...................................

9 or more banking offices............................

25.2%

16.9

12.8

24.6

75.3

15.3%

15.9

8.4

11.1

15.4%

18.3

12.7

13.1

21.6%

26.2

16.3

23.1

66.7

68.4%

20.0

30.0

40.8

75.4

Detailed figures— See Table 109, page 118.

The changes during the year 1940 were similar in character to 

those which have taken place each year over the last five years. 

The most important source of change in the number of banks over 

the period has been mergers, consolidations, and absorptions. The 

reduction in number of banks over the period has resulted in the 

elimination of most of the weak or uneconomic banks admitted to 

insurance in the Temporary Fund. Changes in the number of 

insured banks, excluding those which offset each other, since January 

1, 1936, were due to the following causes:

Admission of banks beginning deposit operations... +165

Admission of operating noninsured banks................ +139

Terminations of insurance.......................................... --11

Suspension of banks—not reopened.......................... -188

Mergers, consolidations, and absorptions—net reduction ..................................................................... -627

Other liquidations....................................................... -162

Net change...................................................... -684

A ssets an d L ia b il it ie s of I n su r ed C o m m ercial B a n k s

On December 31, 1940, total assets of insured commercial banks 

amounted to nearly $71 billion, the highest figure ever reported. 

Total assets were $7.6 billion larger in amount at the close than at 

the beginning of the year, the largest increase recorded in any 12- 

month period since the beginning of deposit insurance. The principal 

types of assets of insured commercial banks as of the middle and 

close of each year of Federal insurance of deposits are shown in 

Chart A.

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ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 39

CHART A

PRINCIPAL ASSETS OF INSURED COMMERCIAL BANKS

CALL DATES, 1934-1940

BILLIONS OF DOLLARS BILLIONS OF DOLLARS

C hanges in assets and liabilities during 1940. The growth 

in assets during 1940 reflected chiefly a substantial inflow of gold 

and the expanded program of national defense started in the spring 

of the year. The effect of the gold inflow upon the banking system 

appears in large part in the $2.6 billion increase in holdings of cash 

and of reserves with the Federal Reserve banks. The progress of 

the defense program and the industrial expansion accompanying it 

are reflected in an increase of $1.5 billion in holdings of Government 

securities, a growth of $1.5 billion in loans, and an increase in float— 

items in process of collection—of about $1 billion.

The expansion of liabilities was chiefly in demand deposits of 

individuals, partnerships, and corporations which increased by more 

than $5 billion over the year period. Interbank deposits increased 

by $1 billion and time deposits by $0.5 billion. Total capital accounts 

of all insured banks remained practically unchanged in amount over 

the period, and the ratio of total capital accounts to book value of 

assets was reduced from 10.3 percent at the beginning to 9.4 percent 

at the close of the year.

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Changes in assets and liabilities of operating insured commercial 

banks from December 30, 1939, to December 31, 1940, are shown in 

Table 16.

T a b le 16. A s s e t s AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS

D e c e m b e r 31, 1940, a n d D e c e m b e r 30, 1939

(Amounts in millions of dollars)

Amount Change

Dec. 31, 

1940

Dec. 30, 

1939 Amount Percent

ASSETS

Cash and reserves with Federal Reserve banks................ 15,227 12,671 +2,556 + 20

Balances with other banks..................................................... 8,216 7,344 +872 + 12

Items in process of collection................................................ 2,847 1,861 +986 + 53

U. S. Government obligations, direct and fully guaranteed...................................................................................... 17,065 15,568 + 1,497 + 10

Other securities......................................................................... 7,099 6,860 +239 + 3

Loans, discounts, and overdrafts.......................................... 18,398 16,866 + 1,532 + 9

Fixed assets................................................................................ 1,534 1,657 -123 -7

Miscellaneous assets................................................................. 334 320 + 14 + 4

Total assets..................................................................... 70,720 63,147 +7,573 + 12

LIABILITIES AND CAPITAL

Deposits of other American banks....................................... 9,830 8,761 + 1,069 + 12

Other demand deposits........................................................... 38,040 32,238 + 5,802 + 18

Other time deposits.................................................................. 15,600 15,077 + 523 + 3

Total deposits................................................................. 63,470 56,076 +7,394 + 13

Miscellaneous liabilities........................................................... 577 546 + 31 + 6

Total capital accounts............................................................. 6,673 6,525 + 148 + 2

Total liabilities and capital accounts................. 70,720 63,147 + 7,573 + 12

Detailed figures— See Table 119, page 144.

Analysis of loans. Loans increased by $1.5 billion during the 

year of which $900 million occurred in business loans. Loans reported 

as “all other loans,” which represent principally personal and consumer loans, part of which are repaid on an instalment basis, increased 

by $400 million. Residential real estate loans, almost one-half of 

which are represented by loans insured under Title II of the National 

Housing Act, increased by $300 million. Agricultural loans also 

increased, while loans for the purpose of purchasing and carrying 

securities were reduced in volume. The major part of the expansion 

in total loans was in the second half of the year and was greater 

than for any other 6-month period since the beginning of the 

Federal deposit insurance system. This rapid growth probably 

reflected for the most part acceleration of the defense program.

Instalment consumer loans. Comprehensive data on instalment consumer loans of banks became available in 1940 for the first 

time through a special questionnaire addressed to insured banks by 

the Federal supervisory agencies.

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ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 41

Holdings of these loans—personal instalment loans and retail 

instalment paper—reported by 11,551, or 86 percent of all insured 

commercial banks on December 31, 1940, amounted to $1,469 million. 

The remaining 1,868 insured commercial banks reported that they 

held no personal instalment consumer loans.1 Slightly more than 

one-half of the amount outstanding represented unpaid balances 

of instalment loans arising from the retail sale of and secured by 

specific articles, such as automobiles, trucks, tractors, household 

appliances, furniture, clothing, and jewelry.2 Nearly one-fifth of the 

total represented unpaid balances on property improvement loans 

made under the provisions of Title I of the National Housing Act. 

The remainder consisted of the unpaid balances on other personal 

instalment loans—the so-called "cash loans” made directly by banks 

to their customers, the proceeds of which were used for the most part 

for general personal expenditures.

For all insured commercial banks instalment consumer loans 

averaged 8.0 percent of total loans held. This ratio exhibited a wide 

variation geographically, ranging from 2.9 percent in Rhode Island 

to 18.4 percent in Oregon. In general, the ratios of instalment 

consumer loans to total loans were higher in the western than in 

the eastern States and were higher among banks in the smaller centers 

than among those in the larger centers.

Among the 6,934 banks submitting reports on personal and retail 

instalment paper to the Federal Deposit Insurance Corporation, 

instalment consumer loans ranged from less than 1 percent to 100 

percent and averaged about 12 percent of total loans. There appeared to be no relationship between the size of bank and the proportion of such loans held. The banks with larger proportions of 

loans in the form of instalment consumer loans showed higher average 

rates of income on loans. This influence was particularly marked 

in the case of those banks with more than 60 percent of total loans 

in the form of instalment consumer loans. A majority of the banks 

in this group, which concentrate on the small personal loan financing 

business, are generally spoken of as “industrial” banks.

Comparable figures for 1939 are available only for retail instalment 

paper. This category, which on December 31, 1940, constituted 

approximately one-half of instalment consumer loans of the banks, 

showed an increase during 1940 of $235 million, or 43 percent, and 

rose from 3.2 percent to 4.2 percent of total loans. The banks in 

the larger centers showed the largest proportionate increases in their 

holdings of retail instalment paper. However, the banks in the 

smaller centers continued to have a larger proportion of their total

1 Exclusive of 23 banks from which reports were not received.

2 One-third of these loans were made directly to the banks’ customers while two-thirds represented 

retail paper purchased from dealers and merchants.

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42 FEDERAL DEPOSIT INSURANCE CORPORATION

loans in the form of retail instalment paper than did the banks in 

the larger centers.

D istribution o f assets. Data for all commercial banks show 

that during the past twenty years the asset composition of the banking 

system has undergone significant change. Chart B shows that the 

proportion of cash and of United States Government obligations held 

has increased substantially since the 1920's, whereas the proportion of 

loans has decreased materially.1 A percentage distribution of assets 

and liabilities for the middle of 1920,1929, and 1937, and for December 

31, 1940, is shown in Table 17.

CHART B

PERCENTAGE DISTRIBUTION OF ASSETS - ALL COMMERCIAL BANKS

1919 -1940

1920 1922 1924 1926 1928 1930 1932 1934 1936 1938 1940

>919-1934 APPROXIMATE JUNE 30 DATES; 1935-1940 JUNE 30 AND DECEMBER 31 DATES.

The dates chosen for comparison are fairly representative of three 

periods of substantial business activity during the interim between 

the two world wars. Total assets of all commercial banks in the 

United States and its possessions amounted to $73.1 billion on December 31, 1940, as compared with $56.9 billion on June 30, 1937, $61.7 

billion in the middle of 1929, and $47.2 billion in 1920. Although 

total bank assets, on December 31,1940, were higher than at any other 

period, the amount of loans outstanding was still about one-half 

of the amount in 1929. The percentage of loans was less than on 

any of the earlier selected dates. Holdings of Government securities 

were nearly four times the amount held by commercial banks in

1 Data for Chart B for June 30 of each year, 1920 to 1935, are assets and liabilities of all active 

banks, Annual Report of the Comptroller of the Currency, 191>0, p. 320, adjusted to exclude mutual savings banks; data for other dates from Table 118, page 140.

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CONDITION OF INSURED COMMERCIAL BANKS 43

1929. Cash and amounts due from banks constituted over one-third 

of the total assets of the banking system at the close of 1940, more 

than double the proportions for 1920 and 1929.

Table 17. PERCENTAGE DISTRIBUTION OF ASSETS AND LIABILITIES, 

1920, 1929, 1937, a n d 1940

ALL OPERATING COMMERCIAL BANKS IN THE UNITED STATES AND POSSESSIONS

June 30, 

1920

June 29, 

1929

June 30, 

1937

Dec. 31, 

1940

ASSETS

Cash and amounts due from banks..................................... 17.2%

7.9

14.7%

8.0

26.4%

25.7

37.1%

......................................... 24.3Obligations of U. S. Government

Other securities......................................................................... 10.1 14.0 13.2 10.1

Loans and discounts................................................................ 59.6 57.7 30.7 25.8

Fixed and miscellaneous assets............................................. 5.2 5.6 4.0 2.7

T otal assets..................................................................... 100.0 100.0 100.0 100.0

LIABILITIES AND CAPITAL

Total deposits............................................................................ 77.4 79.3 86.9 89.7

Miscellaneous liabilities........................................................... 10.9 6.6 1.3 .8

Total capital accounts.............................................................

T otal liabilities and capital a cco u n ts .................

11.7

100.0

14.1

100.0

11.8

100.0

9.5

100.0

Source— See footnote 1, on page 42.

The growth in assets was at a more rapid rate than the additions 

to the banks' capital accounts and the ratio of total capital accounts 

to book value of assets, at 9.5 percent on December 31, 1940, was 

lower than at any other time of record.

C o n d itio n o f I n su r e d C o m m e rc ial B a n k s

Examinations of insured commercial banks conducted during 

1940 reveal continued improvement in the quality of the assets held 

by the banks. However, the capital accounts of the banks are not 

keeping pace with the growth of the banks’ assets, and substantial 

reductions have occurred in capital ratios. This situation may 

become aggravated by credit expansion resulting from the defense 

effort.

Analysis of assets. Total assets of 13,437 insured commercial 

banks examined in 1940 were valued on their books at $65.2 billion.1 

The assets were appraised in the reports of examinations at $65.0

billion, or 99.7 percent of book value. Slightly less than 4 percent 

of the assets were of substandard quality. The data are shown in 

Table 18.

1 The number of insured commercial banks for which data of examinations were available and 

tabulated is about 100 less than the total number of insured commercial banks operating during part or 

all of the year. The data tabulated include figures for about 150 banks, with deposits of $3.7 billion, 

examined in the closing months of 1939, for which reports of examinations in 1940 were not available. 

For banks included and explanation of terms, see Explanatory Note to Part Five, pages 85 to 88.

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44 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 18. APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS

E x a m i n e d i n 1940

Book 

value 

(in billions of 

dollars)

Amounts per $100 of book value

Examiners’

deductions

(net)

Appraised value

Total j Substandard

Not

criticized

T otal assets.......................................................

Cash and due from banks...........................

$65.2

23.3

22.8

17.0

1.6

.5

$0.34 $99.66

100.00

99.74

99.34

96.83

100.87

$3.92 $95.74

100.00

95.18

93.16

68.92

97.79

Securities.........................................................

Loans................................................................

.26

.66

3.17

*-.87

4.56

6.18

27.91

3.08

Fixed assets.....................................................

Miscellaneous assets.....................................

1 Excess of net sound banking values not on books over examiners’ deductions. 

Detailed figures— See Table 129 to 132, pages 168 to 183.

The appraised value of each type of asset represented a higher 

percentage of book value in the examinations made during 1940 than 

in the examinations of preceding years. In addition, the proportions 

of each of the principal types of non-cash assets considered to be of 

substandard quality were less than in preceding years. This improvement in quality has been continuous throughout the seven years 

of deposit insurance.1 There was also a reduction, in 1940 as compared with 1939, in the number of banks with substantial proportions of assets of fixed and substandard grade. A distribution of 

the banks in 1939 and 1940 according to their fixed and substandard 

assets ratios is given in Table 19.

The improvement may be attributed, in part, to the increase in 

volume of uncriticized assets accompanying the continued growth 

in deposits and assets. However, about one-half of the decrease 

over the year in the fixed and substandard assets ratio may be attributed to the removal of substandard assets of about $400 million 

from the books of insured banks. While a portion of this removal 

resulted from the elimination of some banks through suspension, 

liquidation, or merger, the major portion of the decrease occurred 

through sale, liquidation, or charge-off of substandard assets held 

by operating banks, and by improvement in the position of individual 

obligors.

In spite of the improvement shown during the past year by numerous banks and by the banking system as a whole, a number of 

individual banks continue to hold excessive amounts of fixed and 

substandard assets. Nearly 400 banks with deposits of more than

1 Figures since 1933 covering insured commercial banks examined by the Corporation are presented 

in Tables 136 and 137, pages 187 and 188. Comparable figures for banks examined by other Federal 

agencies have not been compiled for the years prior to 1938 but available data indicate improvement 

in the quality of assets of those banks during this period.

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CONDITION OF INSURED COMMERCIAL BANKS 45

$1 billion hold fixed and substandard assets equal to more than 

double the amount of their net sound capital. The amount of fixed 

and substandard assets exceeds the amount of net sound capital in 

about one-sixth of the insured commercial banks. These banks 

hold about one-eighth of the deposits of all insured commercial banks. 

The number and deposits of operating insured commercial banks 

examined in 1940, grouped according to net sound capital ratio and 

by fixed and substandard assets ratio, appear in Tables 133 and 134, 

pages 184 and 185.

Table 19. PERCENTAGE DISTRIBUTION OF NUMBER AND DEPOSITS 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 a t i o n s i n 1940 a n d 1939

BANKS GROUPED BY FIXED AND SUBSTANDARD ASSETS RATIO

Number of banks Deposits

1940 1939 1940 1939

All banks.......................................................................... 100.0% 100.0% 100.0% 100.0%

Banks with fixed and substandard assets

$100 of appraised value of assets of—

$0.00.........................................................................

per

.3 .3 .2 .2

$0.01 to $4.99................................................................ 37.5 28.7 59.7 43.5

$5.00 to $9.99............................................................... 33.3 31.7 27.3 36.9

$10.00 to $14.99........................................................... 15.7 19.3 7.4 10.0

$15.00 to $19.99............................................................. 7.5 10.0 3.2 5.6

$20.00 or more.............................................................. 5.7 10.0 2.2 3.8

Detailed figures for 19UO— See Tables 133 and 134, pages 184 and 185.

Analysis of capital accounts. At the time of their 1940 examinations, the insured commercial banks had net sound capital of 

$6.3 billion, as compared with $6.2 billion shown by 1939 examinations. 

The net sound capital, as revealed by 1940 examinations, amounted 

to approximately 96.5 percent of total capital accounts, as compared 

with 95.2 percent in the preceding year.

As a result of the rapid growth in total assets, however, net sound 

capital amounted to only 9.7 percent of the appraised value of assets 

as compared with 10.6 percent in 1939.1 Investment of the Reconstruction Finance Corporation in the preferred capital of banks 

amounted to $437 million (retirable value), or 0.6 percent of the appraised value of assets. Net sound private capital amounted to 

9.1 percent of the appraised value of assets.

The decline in capital ratios from 1939 to 1940 represents a continuation of the trend which has been in evidence since 1936 due

1 In view of the further rapid increase in deposits and assets of insured commercial banks during the 

latter part of the year 1940, it is estimated that the ratio of net sound capital to appraised value of assets 

showed a further decrease subsequent to the date of the examinations, which were made throughout the 

year, so that net sound capital of all the banks probably approximated 9 percent of appraised value of 

their assets as of December 31, 1940.

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46 FEDERAL DEPOSIT INSURANCE CORPORATION

to the growth in deposits and assets at a more rapid rate than the 

growth in capital accounts. Over this period two conflicting developments have been in evidence. On the one hand, the number of 

hazardous and very weak banks has been reduced. On the other 

hand, more banks have fallen into the group with capital accounts 

of less than 10 percent of assets.

In 1940 more than one-fifth of the banks, holding almost two-thirds 

of the deposits in all insured commercial banks, had net sound capital 

of less than 10 percent of the appraised value of assets. Seven of 

these banks, with deposits of $39 million, had no capital at all after 

adjustment for estimated losses and for assets of doubtful value, 

and 49 other banks, with deposits of $210 million, had net sound 

capital of less than 5 percent of the appraised value of assets.1 Distribution of the banks according to their capital ratios in 1940 and

1939 examinations is shown in Table 20.

Table 20. PERCENTAGE DISTRIBUTION OF NUMBER AND DEPOSITS 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 a t io n s in 1940 a n d 1939

BANKS GROUPED BY NET SOUND CAPITAL RATIO

Number of banks Deposits

1940 1939 1940 1939

A ll b a n k s .................................................................................. 100.0% 100.0% 100.0% 100.0%

Banks w ith net sound capital per $100 o f a p ­

praised value o f assets o f— 1 

$0.00 or less........................................................................... .1 .1 .1 .0

$0.01 to $4.99........................................................................ .4 .6 .4 .7

$5.00 to $9.99........................................................................ 21.3 20.7 63.5 57.6

$10.00 to $14.99.................................................................... 45.4 44.1 29.0 32.1

$15.00 to $19.99.................................................................... 21.1 21.5 4.5 6.6

$20.00 to $24.99.................................................................... 7.7 8.3 1.5 1.7

$25.00 or m ore...................................................................... 4.0 4.7 1.0 1.3

1 In order to eliminate the influence of seasonal fluctuations in total assets upon the ratios for individual 

banks, the base used in the computation of the ratio for individual banks for the most part consisted of 

the estimated average, over the year period preceding the date of examination, of total assets— adjusted 

for examiners’ net deductions. In view of the rapid increase in assets during the entire period covered 

by this averaging process, this table tends to represent the condition of the banks— considered as a whole— 

at a period close to the beginning of the respective years shown. The percentage of banks, and the percentage of deposits of banks, with a low proportion of net sound capital as of the close of the year 1940 

is probably higher than shown by this table, and, conversely, the percentage represented by banks with 

a high proportion of net sound capital is probably lower.

Detailed figures for 191+0— See Tables 133 and 134, pages 184 and 185.

In general, the small banks had higher ratios of net sound capital 

to appraised value of assets than did the large banks. Among the 

2,615 banks with deposits of less than $250,000, only one in each

1 Between the date of the examination and the end of the year, 3 of these 56 banks had suspended 

operations, 6 had been merged with financial aid of the Federal Deposit Insurance Corporation, and 

action had been taken against 4 for continuing to engage in unsafe and unsound banking practices. 

In 2 of the latter cases, prospective mergers were pending. In 19 of the remaining cases there was a 

distinct possibility that a financial expenditure by the Corporation would be required.

In addition to the 7 banks with no net sound capital, there were 72 banks with deposits of $378 

million whose 1940 examinations revealed no net sound capital except that represented by investment of 

the Reconstruction Finance Corporation.

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EARNINGS OF INSURED COMMERCIAL BANKS 47

thirty (3.5 percent) had a ratio of net sound capital to appraised value 

of assets of less than 10 percent, and one in each three had a ratio 

of 20 percent or more. Among the 546 banks with deposits of more 

than $10 million each, about two-thirds had a ratio of net sound 

capital to appraised value of less than 10 percent, and only ten banks 

had a ratio of 20 percent or more. Deposits of these (347) large 

banks with net sound capital ratios of less than 10 percent amounted 

to $32 billion, or 55 percent of the deposits of all insured commercial 

banks. Distributions of the 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 133 and 134, pages 184 and 185. 

Averages for the size groups are shown in Table 21.

Table 21. SUBSTANDARD ASSET AND N E T SOUND CAPITAL RATIO S,

E x a m in a t io n s in 1940

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 b a n k s.................................................................. 13,437 $3.93 $9.74 $96.46

Banks w ith deposits o f—

$100,000 or less.................................................... 385 9.01 25.35 95.07

$100,000 to $250,000.......................................... 2,230 6 99 17.23 96.15

$250,000 to $500,000.......................................... 3,086 5.91 14.11 96.83

$500,000 to $1,000,000....................................... 3,022 5.88 13.00 95.96

$1,000,000 to $2,000,000.................................... 2,169 6.09 12.30 94.57

$2,000,000 to $5,000,000...............•................... 1,483 6.35 11.81 94.62

$5,000,000 to $10,000,000.................................. 516 5.61 11.23 94.98

$10,000,000 to $50,000,000................................ 418 4.44 9.77 96.23

More than $50,000,000...................................... 128 2.87 8.59 97.38

Detailed figures— See Tables 126, 128, 129, and 131, pages 162, 166, 168, and 176.

E arnings of Insured C ommercial Ban ks

The earnings reported by insured commercial banks in 1940 reflect 

the influence of the defense program, as well as the influence of trends 

which have been in evidence for a number of years. The influence 

of defense activities is revealed in the character of increases in income 

and expenses. The influence of previously existing trends is shown 

in lowered interest rates on securities and on time deposits and in 

smaller charge-offs following progressive elimination of criticized 

assets. Earnings, expenses, profits, and dividends of insured commercial banks for each year, from 1934 to 1940, are shown in Table 22.

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48 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 22. E a r n i n g s , E x p e n s e s , a n d D iv i d e n d s o f

I n s u r e d C o m m e r c ia l B a n k s , 1934-1940

(Amounts in millions of dollars)

1934 1935 1936 1937 1938 1939 1940

Gross current operating earnings.................. 1,518 1,486 1,567 1,634 1,584 1,605 1,631

Total current operating expenses1................. 1,117 1,083 1,126 1,167 1,158 1,160 1,193

Net current operating earnings.......... 401 403 441 467 426 445 438

Profits on assets sold, recoveries on assets, etc. 292 432 585 309 329 381 349

Losses, charge-offs, etc..................................... 1,033 628 502 395 455 438 386

Net profits before dividends.................. 2-340 207 524 381 300 388 401

Cash dividends declared and interest paid 

on capital.................................................... 188 207 223 226 222 232 237

Net profits after dividends..................... 2-528 301 155 78 156 164

1 Including income taxes. The figures of total current operating expenses shown in Table 139 exclude 

income taxes of banks reporting to the Corporation, except in 1934 and 1935. Since income taxes of 

other banks, which represent the major portion, are not reported separately, income taxes of banks 

reporting to the Corporation are included under total current operating expenses in this table.

2 Net loss.

Detailed figures— See Table 139, page 190.

Trends o f earnings and expenses. Gross current operating 

earnings, total current operating expenses, and net current operating 

earnings of insured commercial banks have been relatively stable, 

and have shown only minor fluctuations, over the seven years of 

deposit insurance.

c h a r t c

CURRENT OPERATING EARNINGS OF INSURED COMMERCIAL BANKS

CALENDAR YEARS, 1934- 1940

1934 1935 1936 1937 1938 1939 1940

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However, the major individual items of earnings and expenses have 

changed considerably. The figures are presented graphically in 

Charts C and D. The charts show that all items of earnings and 

expenses increased during the period with the exception of interest 

and dividends received on securities, and interest paid on time and 

savings deposits, which decreased considerably. For the most part 

the changes in earnings and expenses have been gradual over the period 

except in the case of income on loans.

More than one-half of the increase in income on loans occurred 

between 1939 and 1940, reflecting the expansion in the volume of 

loans and discounts outstanding in these banks as a result largely 

of the heightened industrial activity induced by the defense program. 

Interest and dividends on securities have declined in each year since 

1936.

Due to these changes in earnings and expense items, the composition of gross current operating earnings and of total current 

operating expenses changed materially over the period, 1934-1940. 

Income on loans, the largest single component of income, increased 

from 45 percent of gross current operating earnings in 1934 to 47 

percent in 1940, while interest and dividends on securities declined 

from 36 to 31 percent. Income from fees and service charges, which 

includes service charges on deposit accounts as well as collection 

charges and commissions on insurance policies and on servicing 

mortgage loans, increased from 5 percent of gross earnings in 1934 

to 8 percent in 1940. The dollar amount of increase in these charges 

exceeded the decrease in income from securities and was more than 

two-thirds of the increase in income from loans.

CHART D

CURRENT OPERATING EXPENSES OF INSURED COMMERCIAL BANKS

CALENDAR YEARS, 1934-1940

1934 1935 1936 1937 1938 1939 1940

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Interest paid on time and savings deposits declined by over onethird and absorbed 12 percent of gross earnings in 1940 as compared 

with 20 percent in 1934. This decrease was due to the reduction 

in rates of interest paid depositors. The proportion of earnings 

paid out in salaries and wages, the largest item of expense, increased 

from 26 percent in 1934 to 30 percent in 1940, reflecting increases in 

personnel as well as higher rates of compensation.

Rates of earnings and expenses. The rate of income received 

on loans by insured commercial banks in 1940 was virtually unchanged 

from the rate shown for 1939, but was higher than in any of the three 

years, 1936-1938. The higher average rate of income received on 

loans in 1939 and in 1940 was due not to a rise in rates of interest 

but to changes in the composition of loans. Rates of interest on 

given classes of loans—consumer loans, mortgage loans, industrial 

and commercial loans—appear to have averaged lower in 1939 and

1940 than in the immediately preceding years. The higher average 

rate of return on loans for the insured banks as a whole in 1939 and 

1940, as compared with the three years, 1936-1938, appears to be due 

to the relatively more rapid growth of instalment consumer loans 

and real estate mortgage loans than of other types of loan. These 

two classes of loans generally bear rates of interest above the average 

for all loans of insured commercial banks. Increases in the amount 

of loans have also been greatest among the banks in which rates of 

interest have been above the average for the country as a whole. 

Figures showing the average rates of income received on loans and 

on securities and the average rates of interest paid on time and 

savings deposits are presented in Table 23.

Table 23. R a t e s OF INCOME RECEIVED AND

I n t e r e s t P a i d b y I n s u r e d C o m m e r c ia l B a n k s , 1934-1940

1934 1935 1936 1937 1938 1939 1940

Income on loans per $100 of total loans-----

Income on securities per $100 of total 

securities.....................................................

$4.63

3.17

2.40

$4.40

2.87

2.01

$4.34

2.66

1.72

$4.28

2.68

1.62

$4.36

2.56

1.55

$4.46

2.38

1.43

$4.41

2.16

1.30

Interest paid per $100 of time and savings 

deposits.......................................................

The rate of income on securities continued the decline which has 

been in evidence practically without interruption since 1934, the 

first year for which figures for all insured commercial banks are 

available. As in earlier years the decline reflects both lower yields 

on corporate and governmental obligations and increased concentration of holdings of obligations of the United States Government and

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EARNINGS OF INSURED COMMERCIAL BANKS 51

of States and their political subdivisions, obligations which generally 

afford the lowest yields.

The rate of interest paid on time and savings deposits by insured 

commercial banks declined in 1940 for the sixth consecutive year. 

Average rates of interest paid by the banks on time and savings 

deposits have been reduced by one-half over the seven-year period, 

amounting to about one and one-quarter percent in 1940 as compared 

with nearly two and one-half percent in 1934. The average rate paid 

in 1940 was well below the maximum rate of two and one-half percent 

permitted by Federal regulations. Distributions of insured commercial banks in 1940 according to rates of income on loans and rates 

of interest paid on time and savings deposits, and according to other 

operating ratios, are shown in Tables 142 to 149, pages 196 to 203.

Net earnings and net profits. The amount of net current 

operating earnings reported by insured commercial banks has been 

well sustained over the seven years of deposit insurance and has 

varied between 26 and 29 percent of gross earnings. Total assets, 

on the other hand, have shown considerable growth and the rate of 

net earnings oi^ total assets has declined substantially during the 

period. In contrast, since total capital accounts have shown only 

a small growth there has been no corresponding reduction in the rate 

of net earnings on total capital accounts. Rates of net earnings and 

of net profits are shown in Table 24.

Table 24. RATES OF NET EARNINGS AND NET PROFITS OF

I n s u r e d C o m m e r c ia l B a n k s , 1934-1940

Net earnings per $100 of— Net profits per 

$100 of—

Gross

earnings

Total

assets

Total

capital

accounts

Total

assets

Total

capital

accounts

1934...................................................................... $26.43 $0.89 $6.48 i$-0.75 i$-5.48

1935...................................................................... 27.12 .84 6.51 .43 3.35

1936....................................................................... 28.29 .83 7.05 .98 8.35

1937...................................................................... 28.88 .86 7.40 .69 5.97

1938...................................................................... 27.13 .78 6.70 .54 4.68

1939...................................................................... 28.05 .75 6.94 .65 5.98

1940...................................................................... 27.20 .66 6.72 .60 6.08

1 Net loss.

In 1940, as in each of the two preceding years, about 39 percent 

of the banks reported net earnings of $10.00 or more per $100 of 

total capital accounts, approximately 60 percent reported net earnings

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52 FEDERAL DEPOSIT INSURANCE CORPORATION

of less than $10.00, and slightly more than 1 percent reported net 

deficits. The figures are shown in Table 25.

Table 25. PERCENTAGE DISTRIBUTION OF INSURED COMMERCIAL BANKS

A c c o r d in g t o R a t e s o f N e t E a r n in g s o n T o t a l C a p i t a l A c c o u n t s , 1938-1940

1940 1939 1938

All banks1.......................................................................................... 100.0% 100.0% 100.0%

Banks with net earnings per $100 of total capital

accounts of— 2

$-5.00 or less................................................................................ .2 .1 .1

$-0.01 to $-4.99............................................................................ 1.1 .9 1.1

$0.00 to $4.99................................................................................ 16.8 16.6 16.3

$5.00 to $9.99................................................................................ 42.7 43.3 42.9

$10.00 to $14.99............................................................................ 26.3 26.2 25.5

$15.00 to $19.99............................................................................ 9.2 9.2 10.1

$20.00 or m ore............................................................................... 3.7 3.7 4.0

1 Excludes banks submitting reports covering less than the full year’s operations or materially 

affected by mergers.

2 Total capital accounts are averages of figures for call dates.

As indicated by Table 26, rates of net profits (before dividends) 

among individual banks have been less stable than rates of net earnings 

and have exhibited some improvement over the three-year period. 

Approximately 29 percent of the banks reported net profits of $10.00 

or more per $100 of total capital accounts in 1940, a higher proportion 

than in either of the two preceding years. Similarly a smaller proportion reported net losses in 1940 than in 1939 or 1938. Distributions of insured commercial banks according to rates of net earnings 

and rates of net profits on total assets in 1940 and by other classifications are shown in Tables 142 to 149, pages 196 to 203.

Table 26. PERCENTAGE DISTRIBUTION OF INSURED COMMERCIAL BANKS

A c c o r d in g t o R a t e s 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 , 1938-1940

1940 1939 1938

All banks1.......................................................................................... 100.0% 100.0% 100.0%

Banks with net profits per $100 of total capital

accounts of— 2

$-10.00 or less................................................................................ 1.3 1.6 3.3

$-5.00 to $-9.99............................................................................ 1.5 1.8 3.4

$-0.01 to $-4.99............................................................................ 6.2 6.0 9.3

$0.00 to $4.99................................................................................ 25.7 25.6 29.3

$5.00 to $9.99................................................................................ 36.7 36.9 32.0

$10.00 to $14.99............................................................................ 19.6 19.4 15.4

$15.00 to $19.99............................................................................ 6.3 6.2 5.2

$20.00 or m ore............................................................................... 2.7 2.5 2.1

1 Excludes banks submitting reports covering less than the full year’s operations or materially 

affected by mergers.

J Total capital accounts are averages of figures for call dates.

Net charge-offs. The fluctuations in the amount of net profits 

from year to year, shown in Table 22, reflect the wide variation in

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the amounts charged off on assets considered to be worthless or of 

doubtful value, in the amounts recovered upon charged-off assets, 

and in the amounts of profits from sales of securities. These variations 

are presented in Chart E.1

CHART E

CHARGE-OFFS AND RECOVERIES OF INSURED COMMERCIAL BANKS

CALENDAR YEARS, 1934-1940

MILLIONS OF DOLLARS MILLIONS OF DOLLARS

The chart shows that losses and charge-offs on assets were reduced 

more than one-half between 1934 and 1937 and have fluctuated 

around $400 million per year, or seven-tenths of 1 percent of total 

assets, since that time. Recoveries on assets and profits on assets 

sold, on the other hand, doubled between 1934 and 1936 and have 

since fluctuated between $300 and $400 million, or six-tenths of 

1 percent of total assets. The reduction in charge-offs during the 

first three years of deposit insurance reflected chiefly the progressive 

elimination of assets upon which losses had previously accumulated. 

The increase in recoveries and profits on assets from 1934 to 1936 

reflected three forces: (1) recoveries normally to be expected on 

the unusually large amounts of loans and real estate charged off in 

immediately preceding years; (2) recoveries on securities which had 

been written down to excessively low levels during the crisis period; 

and (3) profits on securities sold during the period of rapidly rising 

bond prices.

The amounts charged off and recovered during the first three years 

of deposit insurance were strongly influenced by the depression of 

the early 1930’s; since 1937 amounts charged off and recovered have

1 Total recoveries and profits are presented combined in Chart E because profits on securities sold 

were not reported separately in 1934 and 1935 by banks members of the Federal Reserve System. Depreciation on banking house, furniture and fixtures is excluded. See pages 89 and 90.

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54 FEDERAL DEPOSIT INSURANCE CORPORATION

shown a reasonably consistent behavior. Gross charge-offs and 

recoveries on assets of insured commercial banks over the period, 

1937-1940, are shown in Table 27.

Table 27. CHARGE-OFFS AND RECOVERIES OF INSURED COMMERCIAL BANKS,

1937-1940

Total Loans Securities All

other1

Am ount (in millions of dollars):

Charge-offs......................................................................... $1,674 $541 $807 $326

Recoveries.......................................................................... 2680 278 259 2143

Net charge-offs.......................................................... 994 263 548 183

Annual rate 'as percentage of corresponding assets) :3

Charge-offs......................................................................... 0.71%

2.29

0.82%

.42

0.93%

Recoveries..................... .................................................... .30

Net charge-offs.......................................................... .42 .40 .63

Percentage of net current operating earnings:

Charge-offs......................................................................... 93.2% 30.1% 44.9% 18.2%

Recoveries.......................................................................... 237.9 15.5 14.4 28.0

Net charge-offs.......................................................... 55.3 14.6 30.5 10.2

1 Depreciation on banking house, furniture and fixtures is excluded. See pages 89 and 90.

2 Includes profits on assets other than securities for banks not reporting to the Federal Deposit 

Insurance Corporation.

3 The corresponding assets, to which the annual rates are related, are as follows for the respective 

columns: (a) total assets; (b) total loans and discounts (including overdrafts); (c) total securities.

During the period, 1937-1940, insured commercial banks made 

provision for losses at the rate of approximately seven-tenths of

1 percent of total assets, which amounted to almost the entire amount 

of net current operating earnings for the period. However, recoveries 

on assets previously charged off were two-fifths of the amount set 

aside for losses so that net charge-offs amounted to about four-tenths 

of 1 percent of average total assets. These net charge-offs amounted 

to about one-half of the net current operating earnings for the past 

four years.

Gross charge-offs on securities approximated 50 percent of net 

earnings, amounting to nearly 1 percent annually of the gross amount 

of securities outstanding. These gross charge-offs include losses 

sustained on the sale of securities, provision made for losses through 

establishment of valuation allowances, and lump sum charge off 

of premiums on securities purchased. Recoveries of amounts previously written down on securities amounted to one-third of this 

gross loss; and net charge-offs on securities approximated two-thirds 

of 1 percent of total securities annually.

If profits on securities are considered in combination with recoveries, from 1937 to 1940, they exceeded the losses charged off 

so that the banks as a whole were able to show net recoveries and 

profits on securities. This favorable record with respect to securities 

must be attributed to the rising trend in the bond market in evidence 

during most of the period.

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EARNINGS OF INSURED COMMERCIAL BANKS 55

Gross charge-offs on loans were somewhat lower than gross chargeoffs on securities during this period. Recoveries on loans have 

exceeded 50 percent of the provision for losses since 1937, so that 

net charge-offs on loans have been about four-tenths of 1 percent 

annually of the average amount of loans outstanding. This is 

slightly more than one-half of the estimated average rate of net 

charge-offs on loans during the 20 years preceding deposit insurance. 

The lower rate reflects for the most part heavy charge-offs, in 1934 

and 1935, of assets impaired by the depression.

Dividends. Interest and dividends on preferred and common 

capital were higher in 1940 than in any of the preceding years of 

deposit insurance. The rate of return on preferred and common 

capital increased from an average of 5.6 percent in 1934 to 8.2 percent 

in 1940. This growth can be attributed chiefly to continuous increases in the average rate of dividends on common stock. In 1940 

common dividends averaged 9.0 percent of the par value of common 

stock, compared with 6.9 percent in 1934. The rate of interest and 

dividends paid on preferred capital increased substantially in 1935 

and 1936 but declined thereafter, due to the reduction of dividend 

(and interest) rates by the Reconstruction Finance Corporation. 

In 1940, return on preferred capital averaged 3.8 percent of book 

value but only 2.9 percent of retirable value. Rates of dividends 

from 1934 to 1940 are shown in Table 28.

Table 28. R a t e s OF D iv i d e n d s OF INSURED COMMERCIAL BANKS, 1934-1940

Dividends 

per $100 of 

capital stock, 

notes, and 

debentures

Common 

dividends 

per $100 

of common 

capital

Preferred 

dividends 

per $100 of 

preferred 

capital1

Dividends 

per $100 of 

total 

capital 

accounts

1934............................................................................. $5.63 2$6.86 2$2.41 $3.03

1935............................................................................. 6.22 27.37 23.37 3.36

1 93 6 ........................................................................... 6.99 28.23 23.77 3.56

1937............................................................................. 7.39 8.37 3.31 3.54

1938............................................................................. 7.38 8.33 2.90 3.47

1939............................................................................. 7.87 8.76 2.91 3.58

1940............................................................................. 8.18 8.98 2.92 3.59

1 Retirable value.

^Partly estimated since preferred and common capital were not tabulated separately for these years.

During the first two years of deposit insurance—1934 and 1935— 

the banks reported substantial net charge-offs of losses previously 

accumulated on assets. During 1936, the banks realized profits on 

securities sold and recoveries on assets which together were in excess 

of charge-offs. The excess was attributable, in part, to recoveries

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56 FEDERAL DEPOSIT INSURANCE CORPORATION

on the heavy charge-offs of the preceding years and, in part, to rising 

prices in the bond market. Since those three years of abnormally 

large fluctuations in net profits, total interest and dividends paid 

on capital have amounted to over one-half of net earnings and to 

over three-fifths of net profits, During the four years, 1937-1940, 

approximately three-tenths o ’ net earnings—three-eighths of net 

profits—have been retained ii; the banks' capital accounts. Over 

the past four years additions ^o capital accounts from net profits 

after dividends have averaged about 2 percent per year of total 

capital accounts.

Insured M u tu al Savin gs Ban ks

On December 31, 1940, the Federal Deposit Insurance Corporation 

was insuring deposits in 53 of the 551 mutual savings banks in the 

country. The 53 banks were operating 31 branches at the close of 

the year. Two banks, operating six branches, and holding deposits 

of $424 million, were admitted to insurance during the year.

Insured mutual savings banks held deposits of $1.8 billion at the 

end of the year, amounting to 17 percent of the $10.7 billion of deposits 

in all mutual savings banks. Eight of the insured banks held deposits 

of more than $50 million each, totaling $1.4 billion, or 77 percent 

of the deposits in all insured mutual savings banks. The 53 insured 

banks were located in 12 States. More than $1.5 billion of the 

deposits were held by banks located in six eastern States.

Of the $1,984 million of assets held by insured mutual savings 

banks on December 31, 1940, 30 percent were represented by real 

estate loans and 2 percent by other loans and discounts. United 

States Government securities held amounted to 28 percent of the 

assets and other securities to 24 percent. A1 remaining assets 

amounted to 16 percent of total assets.

Total capital accounts which consist, for mutual savings banks, 

of surplus and reserve accounts and capital notes and debentures 

decreased $20 million during the year, or from 9.1 percent to 8.1 

percent of total assets. About $19 million of this decrease was due 

to the excess of dividends and interest paid on deposits over net 

profits; approximately $700,000 was represented by retirement of 

capital notes and debentures. At the close of the year capital 

notes and debentures held by the Reconstruction Finance Corporation, 

in 19 banks, amounted to $7.5 million, or less than 5 percent of the 

total capital accounts. Capital notes and debentures held by others 

were negligible in amount.

The rate of dividends or interest paid depositors in insured mutual 

savings banks has declined steadily since 1935. The following

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INSURED MUTUAL SAVINGS BANKS 57

figures show the amount of dividends and interest reported during 

the year as a percentage of total deposits held at the end of the year 

for each year from 1935 to 1940:

Table 118, page 140, shows condensed statements of assets and 

liabilities of both insured and noninsured mutual savings banks for 

selected call dates since 1935. Figures showing earnings, expenses, 

and disposition of profits of insured mutual savings banks are presented in Table 158, page 220. Due to the small number of banks, 

these data, relating only to insured mutual savings banks, are not 

characteristic of the condition and operations of all mutual savings 

banks in the country.

1935

1936

1937

1938

1939

1940

2.26%

1.96

1.92

1.91

1.88

1.73

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Federal Reserve Bank of St. Louis
PART THREE

LOSSES ON ASSETS OF COMMERCIAL BANKS, 1865-1940

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L osses on A ssets

The business of banking, like other types of enterprise, involves 

risk of loss. In banking, the major risk arises from the probability 

that some loans will not be collected in full, and that some securities 

will be defaulted or will decline in value and be disposed of at a loss. 

A bank may also incur losses on other assets which come into its 

possession during the normal course of business, and may suffer 

shrinkage or deterioration in the value of its banking equipment 

or premises. The entire amount of the losses sustained in the manner 

described constitutes losses on bank assets.

Losses on bank assets are, in a sense, a part of the cost of banking 

operations. A banker expects that some assets acquired will later 

prove worthless, in whole or in part, and the rate of interest in effect 

includes a charge to cover such losses. In the ordinary course of 

business, operating banks meet these losses out of current income 

along with other costs of doing business. So long as banks continue 

to meet these losses regularly from current income, the actual amount 

of the charge-offs affects chiefly the size of capital accounts and 

the ability of the banks to declare dividends. However, when banks 

fail to make adequate provision for these losses before paying dividends 

the losses accumulate. If, under these circumstances, the bank 

suspends operations, the accumulated losses will be borne, first, by 

the stockholders, and second, by the depositors. In the past, when 

the accumulated losses in a bank which was closed exceeded the 

stockholders' investment, as recorded on the banks' books, each 

stockholder, in most of the banks, was subject to an assessment in 

amount up to the par value of the stock which he owned.1 If the 

accumulated losses together with the cost of receivership exceeded 

assessments collected from stockholders, losses were borne by the 

depositors.

Amount and distribution of losses. During the 76 years, 

1865-1940, losses on assets of commercial banks in the United States 

amounted to about $15 billion.2 This amount is the equivalent of 

about 1.1 percent of deposits per year, or slightly less than 1 percent 

per year of total assets.* Further details are given in Table 29. 

Figures for selected periods are given in Tables 30 and 31.

1 In some States in which no double liability provisions existed stockholders of State banks were 

not subject to assessment.

2 This figure includes, prior to 1934, regular depreciation on bank premises and equipment, ordinarily 

considered a current operating expense, and premiums on securities purchased, ordinarily considered 

a deduction from current income. Because of the character of the data available these items have not 

been eliminated from the estimates.

3 In this study, annual rates of loss are expressed as percentages of total deposits to facilitate comparison of the losses charged off from time to time by operating banks with those which were incurred 

in closed banks, and might have been borne by a deposit insurance system.

61

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62 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 29. E s t im a t e d LOSSES ON ASSETS OF

C o m m e r c ia l B a n k s , 1865-1940

Amount 

(in millions 

of dollars)

Average per 

year per $100 

of deposits 

in operating 

banks

Total losses......................................................................................................... $14,963

10,239

$1.10

Charged off by operating bar k s .................................................................. .75

Incurred in banks closed because of financial difficulties— total........ 4,724 .35

Borne by stockholders................................................................................... 2,U9U

2,230

.19

Borne by depositors....................................................................................... .16

Approximately two-thirds of the total loss, $10.2 billion, was 

charged off by operating banks in the regular course of business and 

was therefore met largely from the income of the banks. The remaining one-third of the loss was incurred in the liquidation of the 

assets of banks which closed because of financial difficulties.

Table 30. ESTIMATED L o s s e s ON ASSETS OF

C o m m e r c ia l B a n k s , 1865-1940, B y S e l e c t e d P e r io d s

(In millions of dollars)

In

operating

banks

(net

chargeoffs)

In closed banks

Total

losses Borne

by

stockholders

Borne

by

depositors

1865-1940— total..................................................................... 14,963 10,239 2,494 2,230

20-year periods

1865-1880..............................................................................

1881-1900..............................................................................

1901-1920..............................................................................

1921-1940................................................................................

282

833

| 1,945 

11,903

212

590

1,680

7,757

33

150

126

2,185

37

93

139

1,961

Prior and subsequent to Federal deposit

insurance

Prior: 1865-1933............................................................... 12,313 7,726 2,417 2,170

1865-1920..........................................................................

1921-1933..........................................................................

3,060

9,253

2,U82

5,2U

309

2,108

269

1,901

Subsequent: 1934-1940....................................................! 2,650 2,513 77 60

Insured banks................................................................... j

Noninsured banks............................................................. !

2,563

87

2,U 5

68

70

7

H8

12

Crisis and other years

12 crisis years2.......................................................................

Remaining 64 years............................................................. |

7,306

7,657

4,118

6,121

1,780

714

1,408

822

1 Includes losses of $45 million in suspended and merged banks borne by the Federal Deposit Insurance Corporation.

2 Includes losses charged off in operating banks during 12 years in which net charge-offs amounted 

to more than 1 percent of deposits; and losses to depositors and stockholders in closed banks during 

12 years in which the loss to depositors amounted to more than one-fourth of 1 percent of deposits in 

operating banks. The years included in the figures for charge-offs in operating banks and for losses in 

closed banks are not identical but relate to the same crisis periods. Both include 4 or 5 years from the 

1870’s, 1 year from the 1880’s, 2 years from the 1890’s, and 4 or 5 years from the 1930’s. The figures 

for charge-offs in operating banks relate to 1876-1879, 1885, 1894, 1896, 1931-1935; those for losses in 

closed banks relate to 1873, 1875-1878 1884, 1891, 1893, 1930-1933.

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LOSSES ON ASSETS 63

The losses in banks closed because of financial difficulties fell in 

part upon the stockholders of those banks and in part upon the 

depositors. The stockholders' losses are estimated at $2.5 billion, 

and the depositors’ losses at $2.2 billion.1

Table 31. ESTIMATED R a t e s OF LOSS ON ASSETS OF

C o m m e r c ia l B a n k s , 1865-1940, f o r S e l e c t e d P e r io d s

(Average per year per $100 of deposits in operating banks)

In

operating

banks

(net

chargeoffs)

In closed banks

Total

losses Borne

by

stockholders

Borne 

^ hy- depositors

1865-1940—total...................................................................... $1.10 $0.75 $0.19 $0.16

20-year periods

1865-1880............................................................................... 1.45 1.09 .17 .19

1881-1900............................................................................... 1.08 .77 .19 .12

1901-1920............................................................................... .52 .45 .03 .04

1921-1940............................................................................... 1.32 .86 .24 ; .22

Prior and subsequent to Federal deposit

insurance

Prior: 1865-1933................................................................ $1.21 $0.76 $0.24 $0.21

1865-1920........................................................................... .66 .53 .07 .06

1921-1933........................................................................... 1.67 .95 .38 .,31*

Subsequent: 1934-1940.................................................... $0.77 $0.73 $0.02 $0.02

Insured banks.................................................................... .77 .73 .02 i .02

Noninsured banks............................................................ .92 .72 .08 .12

Crisis and other years

12 crisis years2....................................................................... 4.05 2.28 .99 .78

Remaining 64 years............................................................. .65 .52 .06 .07

1 Includes loss to the Federal Deposit Insurance Corporation in suspended and merged banks.

5 Computed on basis of deposits during years in which losses to depositors in closed banks were more 

than one-fourth of 1 percent of deposits in operating banks.

The impact of losses in closed banks differs greatly from that of 

charge-offs in operating banks. The latter have been absorbed 

successfully by the banking system as a part of the cost of doing 

business. The former, however, particularly those borne by depositors, represent losses that were not successfully absorbed by the 

banking system. The magnitude of the losses written off in operating 

banks and thereby absorbed as a part of operating costs has been 

nearly five times as great as the losses which fell upon depositors in 

closed banks.

1 In this study, stockholders' losses in closed banks include the estimated losses on assets of closed 

banks not borne by depositors, or the amount of total book capital account of the closed banks, plus 

estimated collections of assessments from stockholders under the double liability provisions of law, 

depending upon the nature of the data available.

The estimate of depositors’ losses in banks closed because of financial difficulties is smaller than a 

similar estimate given in the Annual Report of the Federal Deposit Insurance Corporation for the year ending

December 31, 193k, p. 73, covering the 70 years, 1865-1934. The former estimate was based upon the 

best data then available, and depended in part upon expected recoveries in the large number of banks 

still in the process of receivership or liquidation. Most of these banks have since been fully liquidated 

with a considerably better record of recoveries than was anticipated at that time, due primarily to the 

rapid improvement in the banking situation and in property values.

Losses to the Federal Deposit Insurance Corporation on account of subrogated claims of depositors 

in insured banks placed in receivership, and on account of financial aid to merged banks, are included in 

the present estimate of losses to depositors in banks closed because of financial difficulties.

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64 FEDERAL DEPOSIT INSURANCE CORPORATION

The earnings and dividend record of the banking system indicates 

that the losses which fell upon depositors of closed banks could have 

been absorbed had their accumulation been prevented and had some 

method been developed to spread over the entire banking system 

those which could not have been avoided. Improvement in standards of banking operations and banking supervision is designed to 

accomplish the former. The protection afforded by the Federal 

Deposit Insurance Corporation is designed to accomplish the latter 

by application of the well-established principle of insurance.

Losses not covered by the estimate. The foregoing estimate 

of losses on bank assets does not take into account certain items. 

These omitted items are primarily of two sorts: (1) losses incurred 

by depositors and stockholders of banks merged with or taken over 

by other banks to avoid formal suspension or receivership; and 

(2) losses incurred by depositors, officers, and stockholders in the 

form of deposit waivers, contributions, or purchase of assets from 

the banks at more than their liquidating value, in so far as such 

losses were not covered by reported charge-offs. Information regarding these losses is so incomplete that estimates of their magnitude 

have not been made. It is believed, however, that these losses have 

been substantial.

Concentration of losses during crisis periods. The losses on 

bank assets have varied in amount from year to year and from period 

to period. Approximately one-half of the total loss during the entire 

76 years was incurred in four periods of banking crisis.

The concentration of loss in crisis periods is most pronounced in 

the case of losses in banks closed because of financial difficulties. 

Approximately two-thirds of the total loss to depositors over the 

entire 76-year period was incurred in banks which closed during 

12 years, in each of which the depositors' losses amounted to onefourth of 1 percent, or more, of deposits in operating banks. The 

12 years include five years in the 1870's, one year in the 1880's, two 

years in the 1890's, and four years in the early 1930's.1 The annual 

rates of loss to depositors in banks closed during the entire 76-year 

period ranged from less than one hundredth of 1 percent of deposits 

in operating banks in certain years to more than 2 percent in 1933.

The losses written off by operating banks also show concentration 

during periods of financial crisis and during the years immediately 

following such crises, although not to the same extent as losses in 

closed banks. It is estimated that over 40 percent of the total net 

charge-offs during the entire 76-year period occurred during 12 years 

in which the annual rate of such charge-offs was more than 1 percent 

of deposits. These 12 years include four years in the 1870's, one

* 1873, 1875-1878, 1884, 1891, 1893, 1930-1933.

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DEPOSITORS' LOSSES 65

year in the 1880’s, two years in the 1890's, and five years in the 

1930,s.1 The annual range of net charge-offs for the entire 76-year 

period was from one-third of 1 percent of deposits in 1940 to 3 percent 

in 1933.

R ates o f loss during p ost-crisis and w artim e periods. Periods 

of severe financial crisis, in which a large proportion of weak banks 

was eliminated, have been followed by periods in which failures were 

relatively few and losses to depositors relatively slight. Failures 

were also relatively few and losses to depositors relatively slight 

during the period of rapid expansion of credit and rising prices from 

1915 to 1920 accompanying and following the World War.

During four 5-year post-crisis and wartime periods prior to Federal 

insurance of deposits (1879-1883, 1885-1889, 1898-1902, 1915-1919) 

the average annual rate of loss to depositors on account of bank 

failures was only a very small fraction of the rate of loss during crisis 

periods, and was less than one-half the rate of loss in the remaining 

non-crisis years.

Charge-offs in operating banks, on the other hand, have generally 

been at a high rate in the years immediately following banking crises.

Losses by years, 1921-1940. Estimates of losses charged off in 

operating banks, and of depositors' losses in closed banks, for each 

year during the period, 1921-1940, are given in Table 32.

D epositors' L osses

One of the purposes underlying the preparation of these estimates 

is to provide an approximation of the losses which would have fallen 

upon a deposit insurance fund operating in a manner similar to the 

operations of the Federal Deposit Insurance Corporation.

The losses which would have fallen upon a central guaranty or 

insurance fund during the past 76 years cannot be measured solely 

by the losses estimated to have been incurred directly by depositors 

in closed banks. On the one hand, a substantial part of the recoveries 

to depositors was made possible by assessments upon stockholders. 

For the most part, such assessments have now been eliminated 

through modification or removal of double liability provisions of 

law. Losses borne by depositors of banks in financial difficulties 

which were merged or absorbed to avoid formal suspension or receivership also would have fallen upon an insurance fund operating 

in the manner of the Federal Deposit Insurance Corporation.2 It 

is also believed that stockholders would have been less willing to 

contribute to the restoration of solvency and that depositors would

1 1876-1879, 1885, 1894, 1896, 1931-1935.

2 Mergers of this type are now made, for the most part, with the financial aid of the Federal Deposit 

Insurance Corporation.

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66 FEDERAL DEPOSIT INSURANCE CORPORATION

have been less willing to accept waivers of parts of their deposit 

claims to permit reorganization of banks in financial difficulties had 

an insurance agency been in existence to absorb the loss. On the 

other hand, a Federal deposit insurance system, particularly if accompanied by adequate bank supervision and borrowing facilities, 

presumably would have exerted a stabilizing effect upon the banking 

system and thus would have reduced both the frequency of bank 

failures and the magnitude of losses on bank assets. With an adequately implemented deposit insurance system, panic withdrawals 

by depositors would have been forestalled, and liquidation of bank 

assets at sacrifice prices would have been greatly reduced if not wholly 

avoided. No reasonable estimate can be made of the extent to which 

these diverse influences might have affected either the amount of 

losses on assets of operating banks, or the amount of losses incurred 

by depositors in closed banks, during the 76-year period.

Table 32. E s t im a t e d N e t C h a r g e - o f f s in O p e r a t i n g

C o m m e r c ia l B a n k s a n d L o s s e s t o D e p o s it o r s in C l o s e d

C o m m e r c ia l B a n k s , 1921-1940, b y Y e a r s

(In millions of dollars)

Year

Average 

deposits in 

operating 

banks

Net 

charge-offs 

in operating 

banks1

Deposits in 

closed banks

Losses to depositors in 

closed banks

Total

On deposit 

balances not exceeding $5,000

1921............................ 34,011 328 173 60 49

1922............................ 35,891 249 91 38 34

1923............................ 38,430 221 150 62 55

1924............................ 41,776 217 210 79 68

1925............................ 44,808 201 167 61 53

1926............................ 46,475 220 260 83 72

1927............................ 48,397 237 199 61 51

1928............................ 50,293 241 142 44 38

1929............................ 50,398 314 231 77 64

1930............................ 49,489 423 837 237 158

1931............................ 44,687 722 1,690 391 288

1932............................ 36,668 909 706 168 132

1933............................ 33,252 962 3,597 540 344

1934............................ 37,482 902 37 10 8

1935............................ 42,796 416 14 4 3

1936............................ 48,125 192 28 4 4

1937............................ 48,932 211 34 5 5

1938............................ 49,345 308 59 5 5

1939............................ 54,912 281 159 18 16

1940............................ 61,374 203 144 14 14

1 Includes depreciation on bank premises and equipment for the years, 1921-1933; excludes such 

depreciation for 1934-1940.

Amount of depositors’ losses and stockholders’ assessments.

Assessments collected from stockholders of closed commercial banks 

during the 76-year period are estimated at approximately $0.5 billion. 

In the absence of stockholders' assessments, the total losses to depositors in commercial banks closed because of financial difficulties

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DEPOSITORS’ LOSSES 67

would have amounted, it is estimated, to $2.7 billion, an average 

annual rate of one-fifth of 1 percent of deposits in operating banks. 

This is the rate of assessment upon the deposits of operating banks 

which it is estimated would have been required to meet all depositors' 

losses in closed banks during the 76-year period, 1865-1940, without 

making allowance for any improvement resulting from the existence 

of a deposit insurance system.

Approximately three-fourths of the losses to depositors were incurred on deposit balances not exceeding $5,000, and one-fourth on 

deposit balances over this sum. Consequently, the rate of assessment 

necessary to have covered the losses on deposit accounts not exceeding 

$5,000, in the absence of stockholders' double liability and disregarding 

the stabilizing effects of deposit insurance, would have been $0.15 

for $100 of deposits in operating banks—or nearly twice the rate of 

assessment under the present system of deposit insurance.

The distributions of losses to depositors and of collections from 

stockholders for selected periods are given in Tables 33 and 34.

Rates of loss during crisis and post-crisis periods. Because 

of the high concentration of bank failures in periods of business 

depression, the annual rate of loss to depositors in closed banks is 

subject to wide variations. The average annual rate of loss during 

the 12 years in which failures were primarily concentrated, together 

with the additional loss which would have fallen upon depositors 

had there been no assessments on stockholders, was $0.97 for each 

$100 of average deposits in operating banks. During the 64 remaining 

years the loss which depositors would have suffered in the absence 

of stockholders' double liability was equal to $0.08 per year on each 

$100 of deposits in operating banks or about one-twelfth of 1 percent 

per annum. The equivalent loss for non-crisis years on deposit 

balances up to $5,000 was one-fourteenth of 1 percent per year of 

deposits in all operating commercial banks.

In contrast, in four 5-year post-crisis and wartime periods prior 

to Federal insurance of deposits, the rate of loss on all deposits in 

closed banks amounted only to $0.03 for each $100 of deposits in 

operating banks. During the first five years of deposit insurance 

the corresponding figure was only $0,013, the lowest of any period.1 

This lower rate may be attributed in part to the stabilizing influence of 

deposit insurance and the increased effectiveness of banking supervision, and in part to the severity of the crisis of the early 1930's and 

the accompanying elimination of a larger proportion of unsatisfactory 

assets from the banking system than was eliminated during former 

banking crises.

1 This figure includes losses to depositors in both noninsured and insured banks, and also losses to 

the Federal Deposit Insurance Corporation on account of deposits it has paid and the financial aid it has 

extended to facilitate the merger of insolvent banks.

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Federal Reserve Bank of St. Louis
(In millions of dollars)

Table 33. E stim a ted L osses to D ep ositors and A ssessm en ts C o lle c t e d from S to c k h o ld e rs

in C om m ercial B anks C losed B ecau se o f F in a n c ia l D iffic u lt ie s , 1865-1940

Losses to depositors plus assessments 

collected from stockholders

T

Assessments collected from stockholders

xjuooco tu ucpuaitwio

Proportionate shares on—

Total

On

balances not 

exceeding 

$5,000

On

balances

exceeding

$5,000

Total

On

balances not 

exceeding 

$5,000

On

balances

exceeding

$5,000

Total Balances not 

exceeding 

$5,000

Balances

exceeding

$5,000

1865-1940— total...................................................... 2,691 2,041 650 2,230 1,694 536 461 347 114

20-year periods

1865-1880................................................................. 42 36 6 37 32 5 5 4 1

1881-1900................................................................. 116 99 17 93 79 14 23 20 3

1901-1920................................................................. 161 141 20 139 122 17 22 19 3

1921-1940................................................................. 2,372 1,765 607 1,961 1,461 500 411 304 107

Prior and subsequent to Federal

deposit insurance

Prior: 1865-1933.................................................. 2,629 1,986 643 2,170 1,640 530 459 346 113

1865-1920............................................................ 319 276 h3 269 233 36 50 U3 7

1921-1933............................................................. 2,310 1,710 600 1,901 1,U07 m U09 303 106

Subsequent: 1934-19401.................................... 62 55 7 60 54 6 2 1 (2)

Insured banks1.................................................... U9 U6 3 U8 U5 3 1 1 (2)

Noninsured banks............................................. 13 9 U 12 9 3 1 (2) (2)

Crisis and other years

12 crisis years3........................................................ 1,747 1,220 527 1,408 983 425 339 237 102

Remaining 64 years.............................................. 944 821 123 822 711 111 122 110 12

Post-crisis and wartime periods

Four 5-year periods prior to deposit insurance— total..................................................... 61 53 8 52 45 7 9 8 1

1879-1883............................................................ 8 7 1 7 6 1 1 1 (2)

1885-1889............................................................. 11 9 2 9 7 2 2 2 (2)

1898-1902............................................................. 17 u 3 n 12 2 3 2 (2)

1915-1919................... ' ...................................... 25 23 2 22 20 2 3 3 (2)

One 5-year period subsequent to deposit insurance: 1934-1938....................................... 30 26 28 4 24 4 2 1 (2)

1 Includes losses of $45 million in suspended and merged banks borne by the Federal Deposit Insurance Corporation.

2 Less than $500,000.

* See footnote 2, Table 30.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Table 34. E stim a ted RATES OF LOSS TO DEPOSITORS AND OF ASSESSMENTS COLLECTED FROM STOCKHOLDERS

in Com m ercial B anks C losed B ecau se o f F in an cial D iffic u ltie s , 1865-1940

(Average per year per $100 of deposits in operating banks)

Losses to depositors plus assessments T

Assessments collected from stockholders

collected from stockholders Proportionate shares on—

Total

On

balances not 

exceeding 

$5,000

On

balances

exceeding

$5,000

Total

On

balances not 

exceeding 

$5,000

On

balances

exceeding

$5,000

Total Balances not 

exceeding 

$5,000

Balances

exceeding

$5,000

1865-1940— tota l...................................................... $0.20 $0.15 $0.05 $0.16 $0.12 $0.04 $0.04 $0.03 $0.01

20-year periods

1865-1880................................................................. .21 .18 .03 .19 .16 .03 .02 .02 0) 1881-1900................................................................. .15 .13 .02 .12 .10 .02 .03 .03 (x) 1901-1920................................................................. .05 .04 .01 .04 .03 .01 .01 .01 0) 1921-1940................................................................. .26 .19 .07 .22 .16 .06 .04 .03 .01

Prior and subsequent to Federal

deposit insurance

Prior: 1865-1933................................................. .26 .19 .06 .21 .16 .05 .05 .03 .01

1865-1920............................................................ .07 .06 .01 .06 .05 .01 .01 .01 0) 1921-1933............................................................ .U2 .31 .11 ,3U .25 .09 .07 .05 .02

Subsequent: 19 34-19402.................................... .02 .02 0) .02 .02 0) (x) i1) 0)

Insured banks2................................................... .02 .02 0) .02 .02 0) 0) 0) 0) Noninsured banks.............................................. .13 .10 .03 .12 .09 .03 .01 .01 C1)

Crisis and other years

12 crisis years3........................................................ .97 .68 .29 .78 .55 .23 .19 .13 .06

Remaining 64 years.............................................. .08 .07 .01 .07 .06 .01 .01 .01 0)

Post-crisis and wartime periods

Four 5-year periods prior to deposit insurance— total..................................................... .03 .03 (*) .03 .03 (1) C1) (x)

1879-1883............................................................ .08 .07 .01 .07 .06 .01 .01 .01 0) 1885-1889............................................................ .07 .06 .01 .06 .05 .01 .01 .01 C1) 1898-1902............................................................ .Ok M (!) .03 .03 0) .01 .01 0) 1915-1919............................................................ .02 .02 0) .02 .02 i1) C1) 0) 0)

One 5-year period subsequent to deposit insurance: 1934-1938 ....................................... .01 .01 (*) .01 .01 0) 0) 0) 0)

1 Less than one-half of one cent.

2 Includes loss to the Federal Deposit Insurance Corporation in suspended and merged banks.

3 See footnote 2, Table 31.

depositors' losses

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70 FEDERAL DEPOSIT INSURANCE CORPORATION

The low rate of loss incurred during the years since the beginning 

of deposit insurance cannot be considered typical of the burden which 

the Corporation may be expected to bear in the future. This burden 

will depend upon a number of largely unpredictable developments, 

notably: the frequency and extent of economic crises; the adequacy 

of supervisory and other methods in preparing the banking system 

for adverse developments; the nature of bank assets; and the level 

of capital ratios. In so far as capital ratios are concerned, it is important to note that present levels are below those prevailing during 

any of the 76 years prior to 1940. Had the capital ratios been as 

low in the past as they are now, stockholders would have borne a 

smaller proportion and depositors a larger proportion of the losses 

in closed banks.

M eth od o f Estim ating Losses on A sse ts o f

Com m ercial Banks, 1865-1940

A description of the data and methods used in estimating losses 

on assets of operating and closed commercial banks, with detailed 

tables, is available upon request. A summary is given below of the 

methods employed and the character of the data used, together with 

a brief appraisal of the accuracy and reliability of the estimates.

Methods of estimation. The estimates have been prepared by 

four general methods: (a) use, with relatively minor adjustments, 

of information reported to or collected by Federal bank supervisory 

authorities; (b) use of similar data subjected to substantial adjustments; (c) use of data from samples of varying degrees of representativeness; (d) use of assumptions regarding rates of loss in certain 

groups of banks or certain periods of time in comparison with those 

in other groups of banks or other periods of time. The amounts 

of loss derived by these four methods of estimation are given in 

Table 35 separately for losses charged off in operating banks, losses 

borne by depositors in closed banks, and losses borne by stockholders 

in closed banks.

Losses published or reported by Federal bank supervisory

authorities. The estimates of loss derived from information reported to or collected by Federal bank supervisory authorities and 

used with relatively minor adjustments cover the following proportions 

of the total losses on commercial bank assets during the 76-year 

period: 66 percent of the estimated net charge-offs in operating 

banks, 19 percent of the estimated losses borne by depositors in 

closed banks, and 70 percent of the estimated losses borne by stockholders in closed banks. To what extent these reported published 

data fail to reveal the facts is not known. They are presumably

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METHOD OF ESTIMATING LOSSES 71

correct except for errors of reporting and tabulation, and errors 

resulting from necessary minor adjustments. Both of these types 

of error appear to be of minor importance.

Table 35. D i s t r i b u t i o n o f E s t im a t e d L o s s e s o n A s s e t s o f

C o m m e r c ia l B a n k s , 1865-1940, b y M e t h o d o f E s t im a t io n

(In millions of dollars)

Loss derived or estimated from—

T otal estim ated losses.................................

N et ch arge-offs by operatin g banks— 

to ta l........................................................

Insured banks, 1934-1940.......................

Noninsured banks, 1934-1940................

National banks, 1918-1933.....................

State banks members F. R. System,

1918-1933................................................

Commercial banks not members F. R.

System, 1918-1933................................

National banks, 1876-1917.....................

National banks, 1865-1875.....................

State and private banks, 1865-1917. . .

Losses in closed banks born e by d epositors— to ta l....................................

Insured banks, 1934-1940.......................

Noninsured banks, 1934-1940................

National banks permanently closed,

1865-1933................................................

State and private banks permanently

closed, 1865-1933..................................

Banks reopened, succeeded, or taken

over, 1921-1933......................................

Banks reopened, succeeded, or taken 

over, 1865-1920.....................................

Losses in closed banks born e by stock ­

holders— to ta l.....................................

Insured banks, 1934-1940.......................

Noninsured banks, 1934-1940................

National banks, 1865-1933.....................

State and private banks, 1865-1933. . .

Total

Data reported to 

or collected by 

bank supervisory 

authorities

With

minor

adjustments

With substantial 

adjustments

Sample

data

Data for 

other 

periods 

or groups 

of banks

14,962

10,239

2,445

68

2,987

1,295

1,487

1,021

72

864

2,230

48

12

373

1,402

364

31

2,493

70

7

794

1,622

6,727

2,445

2,987

1,295

421

48

373

1,750

70

794

1886

1,021

1,021

2,130

1,766

1,402

364

364

2,913

2,491

68

1,487

72

864

43

‘i2‘

31

379

7

‘ 372’

1 Includes reported value of capital stock of banks closed, 1921-1933, on which recoveries are assumed 

to have been negligible.

The data collected by national bank supervisory authorities and 

subjected to substantial adjustments cover 9 percent of the estimated 

net charge-offs in operating banks during the entire period, and relate 

to the losses charged off by operating national banks during the years, 

1876-1917. Data published for those years by the Comptroller of 

the Currency refer to gross charge-offs, with no figures for recoveries. 

On the basis of information available for the period, 1918-1933, it 

has been assumed that one-fourth of the amounts charged off were 

subsequently recovered. If the rate of recovery during the period,

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72 FEDERAL DEPOSIT INSURANCE CORPORATION

1876-1917, were one-half that of the period, 1918-1933, the estimats 

of all net charge-offs in operating banks would understate actual 

charge-offs by about 13^ percent.

Losses estimated from sample data. Estimates of loss based 

upon sample data cover 79 percent of the losses borne by depositors 

in closed banks, and 15 percent of losses to stockholders in closed 

banks, during the 76-year period.

The bulk of depositors' losses estimated from sample data occurred 

in State banks closed during 1921-1933. For this period fairly 

accurate and reliable data for about 30 percent of the State banks 

permanently closed are available in reports of State banking supervisory authorities or in schedules prepared for the Federal Reserve 

Committee on Branch, Group, and Chain Banking. However, the 

banks for which results of liquidation are available are not an evenly 

distributed sample of all closed banks grouped by year of suspension, 

region, amount of deposits, or other criteria. Because of this situation, six different estimates of total depositors' losses were prepared 

by various methods of applying the results of the sample to the data 

for all State and private banks permanently closed. These six 

estimates were based on the following groupings of the sample data, 

listed in the order of magnitude of the total estimated losses derived 

therefrom: (a) eight geographic regions; (b) two periods (1921-1930 

and 1931-1933) and eight geographic regions; (c) two periods (1921- 

1930 and 1931-1933); (d) year of closing; (e) year of closing and amount 

of deposits (the estimate finally selected); and (f) eight geographic 

regions and amount of deposits. The range in these various estimates 

was from 8 percent above to 1 percent below the estimate selected. 

Since the losses to depositors in State and private banks permanently closed during 1921-1933 constituted more than one-half of 

the total loss to depositors in all banks closed during the entire 

period, these variations are equivalent, respectively, to errors of 

understatement of approximately 4 Y i percent, and of overstatement 

of one-half of 1 percent, in the estimate of total depositors' losses 

during the entire 76-year period.

Losses estimated from data for other periods or groups of

banks. Estimates based upon assumptions regarding rates of loss 

in certain groups of banks or certain periods of time in comparison 

with those in other groups of banks or other periods of time apply 

to 25 percent of the total estimated net charge-offs in operating banks,

2 percent of the total estimated losses to depositors in closed banks, 

and 15 percent of the total estimated losses to stockholders.

The bulk of the loss estimated by this general method represents 

net charge-offs by operating banks not members of the Federal

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Reserve System, 1918-1933, and by all operating State and private 

banks, 1865-1917. The rate of loss charged off by the former group 

of banks was assumed to have been nine-tenths of the rate charged 

off each year by country national banks during the same period. 

The assumed rate was based upon relationships among rates of loss 

shown by various classes of banks during that period and during the 

period, 1934-1940. In the operating State and private banks, 1865- 

1917, the rate of loss was estimated at eight-tenths of the annual 

rate of estimated net charge-offs in national banks. There is no 

valid basis for determining the margin of error in these estimates. 

However, an error of 25 percent for both groups of banks would 

not affect the estimated net charge-offs of all operating commercial 

banks during the entire 76-year period by more than 6 percent.

Reliability of estimates. To summarize briefly, the errors in 

each of the three estimates for the entire period—losses charged off 

in operating banks, depositors' losses in closed banks, and stockholders' 

losses in closed banks—are probably less than 10 percent. Because 

of omissions, the estimates of losses are likely to be low rather than 

high. The estimated net charge-offs in operating banks include, 

for the period, 1865-1933, normal depreciation on bank premises 

and equipment, ordinarily considered a normal current expense of 

doing business, and amortization of premiums, ordinarily considered 

a deduction from income. These two items probably do not exceed 

10 percent of the net charge-offs of operating banks during the period. 

For the period, 1934-1940, amortizations of premiums are excluded 

as are all charge-offs on bank premises and equipment whether 

recurring or extraordinary (except for extraordinary charge-offs, 

during the period, 1936-1940, of insured banks submitting reports to 

the Corporation, which are not reported separately).

Total deposits in operating banks. Total deposits in operating 

banks are estimated primarily from call reports for two or more dates 

a year submitted by operating banks to Federal bank supervisory 

agencies. This method applies to deposits in national banks during 

the entire 76-year period, to deposits in banks members of the Federal 

Reserve System during the period, 1918-1940, and to deposits in 

insured State banks not members of the Federal Reserve System 

during the period, 1934-1940.

Deposits for the State banks not obtained in this way are based 

upon data collected by this Corporation for noninsured banks in 

recent years, data from compilations published in the annual reports 

of the Comptroller of the Currency, deposits reported on tax returns 

or estimated from tax collections during the period, 1865-1883, and 

deposits for individual banks shown in bankers' directories.

METHOD OF ESTIMATING LOSSES 73

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Federal Reserve Bank of St. Louis
PART FOUR

LEGISLATION

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Federal Reserve Bank of St. Louis
Le g is l a t io n R e l a t in g t o I n s u r e d B a n k s

AMENDMENT TO FEDERAL STATUTE CONCERNING 

ROBBERY OF A BANK

[P u b l ic— No. 685— 76th C o n g r e s s ]

[C h a p t e r 455— 3d Se s s io n ]

[H. R. 8399]

AN ACT

To prohibit the receipt, possession, or disposition of money or property feloniously 

taken from a bank organized or operating under the laws of the United States 

or any member of the Federal Reserve System.

Be it enacted by the Senate and House of Representatives of the United States of

America in Congress assembled, That section 2 of the Act of May 18, 1934, entitled 

“An Act to provide punishment for certain offenses committed against banks organized or operating under laws of the United States or any member of the Federal 

Reserve System” (48 Stat. 783; U. S. C., title 12, sec. 588b), as amended, be further 

amended by adding thereto the following subsection:

“ (c) Whoever shall receive, possess, conceal, store, barter, sell, or dispose of any 

property or money or other thing of value knowing the same to have been taken 

from a bank in violation of subsection (a) of this section shall be fined not more 

than $5,000 or imprisoned not more than ten years, or both.”

Approved, June 29, 1940.

77

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PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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EXPLANATORY 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) 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 (2) data relating to suspensions, receiverships, 

and mergers with the financial aid of the Federal Deposit Insurance Corporation, 

wiiich 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;

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

81

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82 FEDERAL DEPOSIT INSURANCE CORPORATION

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.

Unit banks include all banks operating only one office at which deposits are 

received or checks cashed.

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 bankingThe 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.”

Institutions excluded. 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 

not accept deposits from the general public.

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EXPLANATORY NOTES 83

Population of Center and Number of Offices

Classification of centers according to population is based, for incorporated places, 

upon the 1930 census of population and for unincorporated places upon figures 

published in Rand NcNally Bankers Directory.

The number of banking offices in the center is the number of commercial banking 

offices operating on June 29.

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 113-124, and 

used for classifying insured banks by size groups in Tables 105-112, are from reports 

of condition submitted by the banks for the dates indicated; and deposit figures 

in Tables 150-157, and used for classifying insured banks by size groups in Tables 

142-148, are averages of the figures from reports of condition for call dates; (2) deposit 

figures in Tables 125-134, and in Table 138, summarizing the reports of examinations 

of banks, are for the respective dates on which each bank was examined.

In Annual Reports of the Corporation for 1935 to 1938, inclusive, deposit liabilities 

reported by insured banks on certified statements submitted for the purpose of 

computing the deposit insurance assessment were used in tables showing deposits 

of banking offices. Deposit liabilities reported on certified statements include, 

in addition to 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. Total deposit liabilities 

reported on certified statements exceed total deposits shown on reports of condition 

by an amount estimated at less than 2 percent.

In determining the amount of insurance assessment, the banks have claimed 

deductions of about 4 percent of total deposit liabilities. Therefore, the amount 

of deposits on which the insurance assessment is based is approximately 4 percent 

less than total deposit liabilities reported on certified statements, and approximately 

2 percent less than the amount of deposits shown on reports of condition.

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 bank’s 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 113, 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 159-169, relating to suspensions, receiverships, and 

mergers with the financial aid of the Corporation, are from the records of the Corporation with respect to such banks, and refer to the date of suspension or merger.

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84 FEDERAL DEPOSIT INSURANCE CORPORATION

Deposit figures for banks in receivership as shown by the books of the Corporation, 

December 31, 1940, given in Tables 170 and 171, differ from those shown by the 

books of the banks at date of suspension, given in Table 169, because of reclassification of liabilities and discovery of additional liabilities during liquidation.

Banks Examined by, and Submitting Reports to, the

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation regularly examines, and receives 

call reports of assets and liabilities, and of earnings and dividends, from all insured 

banks which are not members of the Federal Reserve System, except State banks 

in the District of Columbia and national banks in the possessions. The latter 

groups of banks are examined by and report to the Comptroller of the Currency.

The designations “ Banks submitting reports to the Federal Deposit Insurance 

Corporation,” used in Tables 122-124 and 150-157, and “ Banks examined by the 

Federal Deposit Insurance Corporation,” used in Tables 135-138, are more accurate 

than the caption, “ Banks not members of the Federal Reserve System,” used in 

comparable tables in previous Annual Reports.

Assets and Liabilities of Operating Banks

Assets and liabilities of insured banks, in Tables 118-124, are tabulated from 

reports of condition submitted to Federal supervisory authorities: to the Comptroller 

of the Currency by all national banks, and by State banks located in the District 

of Columbia; 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 all other insured State banks. Instructions provided to insured banks by the 

Federal supervisory authorities for the preparation of reports of condition are 

essentially uniform. Copies of the instructions issued to banks submitting reports 

to the Federal Deposit Insurance Corporation are available upon request.

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.

Statements of assets and liabilities are submitted by insured commercial banks 

upon either a cash or an accrual basis, depending upon the bank’s method of bookkeeping. Assets and liabilities held in or administered by a savings, bond, insurance, real estate, foreign, or any other department of a bank, except a trust 

department, are consolidated with the respective assets and liabilities of the commercial department. Trust funds deposited by a trust department in a commercial 

or savings department are reported as “ Deposits of individuals, partnerships, and 

corporations.” Other assets held in trust are not included in statements of 

assets and liabilities. In the case of banks with one or more domestic branches, 

the assets and liabilities reported are consolidations of figures for the head office 

and all domestic branches. In the case of a bank with foreign branches, net amounts 

due from its own foreign branches are included in “ Other assets,” and net amounts 

due to its own foreign branches are included in “ Other liabilities.”

Assets reported represent aggregate book value, on the date of call, less valuation 

allowances, and, in the case of securities, less reserves for bond premiums. Reciprocal bank balances are reported gross. Instalment loans are ordinarily reported 

net if the instalment payments are applied directly to the reduction of the loan. 

Such loans are reported gross if, under contract, the payments do not immediately 

reduce the unpaid balances of the loan but are assigned or pledged to assure repayment at maturity.

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EXPLANATORY NOTES 85

Total deposits. All funds received by a bank in the course of its commercial 

or fiduciary business (except funds in payment of obligations to the bank) give 

rise to demand or time deposit liabilities and are classified under total deposits, 

unless the funds are received as trust funds which the bank keeps segregated and 

apart from its general assets.

Analysis of Examinations of Insured Commercial Banks

Data for Tables 125-134, relating to the analysis of examinations of all insured 

commercial banks in 1940, are derived from the reports of examinations made by 

the Comptroller of the Currency in the case of national banks and of State banks 

in the District of Columbia, 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 other insured State banks.1

Figures relating to commercial banks examined by the Federal Deposit Insurance 

Corporation covering the period 1933 to 1940 are presented in Tables 135-138. 

Examination procedures of the Federal bank supervisory authorities and of numerous 

State banking authorities were revised in 1938 so that the data for 1939 and 1940 

are not strictly comparable with data for 1937 and earlier years. Data for banks 

examined by the Federal Deposit Insurance Corporation are shown for 1938 on 

both the original and the uniform or revised basis.2

Banks included. The tabulations have been prepared from reports of examinations available during the year and do not cover precisely the banks examined 

during the year. In cases in which 1940 examinations were not made or were not 

available, figures for banks examined in the closing months of 1939 were included 

in the 1940 tabulations. Figures for about 100 insured banks operating throughout 

or during a part of the year were not included in the tabulations, since reports 

of examination were, for various reasons, not available for tabulation. The number 

and deposits of insured commercial banks included in the 1940 tabulations, distributed according to month of examination, are shown below.

Month of Number Total deposits (in

examination of banks millions of dollars)

All banks.......................................................................... 13,437 57,920

Banks examined in:

1939

October-December....................................................... 146 3,708

1940

January.......................................................................... 1,211 5,037

February........................................................................ 1,130 4,417

M arch............................................................................. 1,250 5,865

April................................................................................ 1,296 4,344

M a y ................................................................................. 1,440 6,083

June................................................................................. 1,344 7,546

July.................................................................................. 914 2,179

August............................................................................ 1,101 2,805

September...................................................................... 1,203 6,312

October........................................................................... 1,198 6,344

Novem ber...................................................................... 862 2,825

December....................................................................... 342 455

Ratios for individual banks. The base used in the computation of ratios 

to the appraised value of assets for each individual bank consists, for the most 

part, of the estimated average value of assets over the year period preceding the 

date of examination. This method was adopted in order to eliminate the influence

1 Similar tables relating to the analysis of examinations of all insured commercial banks in 1939 

were published in the Annual Report of the Corporation for that year. Corresponding tabulations for 

earlier years have not been made, except for banks examined by the Corporation.

2 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 SI, 1938, pages 61-78.

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

of seasonal fluctuations in total assets upon the ratios of individual banks. However, in view of the rapid increase in total assets during the entire period covered 

by this averaging process for 1940 data, the ratios tend to represent the condition 

of the banks— considered as a whole—at a time close to the beginning of the year.

Explanation of terms. The principal terms and methods used, under the 

uniform procedure, in the tables relating to analysis of examinations of bank assets 

and capital accounts are described below.

Book value, applied to total assets, loans, securities, fixed assets, and miscellaneous assets, refers to the values (net, after deduction of valuation allowances and, 

in the case of securities, of premium allowances) carried by each bank on its books 

at the time of examination.

Appraised value of total assets, loans, securities, fixed assets, 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 

64-68. 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 wThich 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, for reasons which he sets forth, (1) the amount of, or the 

portion of, loans and other assets regarded as worthless or uncollectible (Classification IV); and (2) one-half of the amount of, or the portion of, loans and other 

assets regarded as of doubtful worth or collectibility (Classification III). 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 the book value (less valuation and 

premium allowances) of speculative 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 and premium allowances) exceeds cost less amortization of other (i.e., 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, fixed assets, and miscellaneous assets, represents the appraised value of all assets believed by the examiner 

to involve a substantial or unreasonable degree of risk, and hence to be undesirable 

or hazardous for bank investment. It includes the value of assets in Classification 

II, including assets not shown on the books, 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

1 Seethe Annual Report of the Federal Deposit Insurance Corporation for the Year Ending December

SI, 1938, pages 76-78, particularly Table 40.

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Federal Reserve Bank of St. Louis
EXPLANATORY NOTES 87

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 include fixed assets not criticized, as well as 

all substandard assets. Fixed assets consist of banking house, furniture and 

fixtures, and other real estate.

Uncriticized, applied to total assets, cash, loans, securities, fixed assets, and 

miscellaneous assets, represents the appraised value of all assets regarded as suitable 

for bank investment. The appraised value of these, assets (Classification I) represents acquisition values less charge-offs, valuation allowances, and, in the case 

of securities, amortization of bond premiums.

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 reports of that 

Corporation.

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.

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. The 19 

banks for which no net earnings figures were available were, in general, new institutions or institutions which had been merged.

Irregularity in individual items. Items referred to in footnote 5 of Table 126 

and footnote 2 of Table 130, as well as the dollar figures in the corresponding tables, 

are strongly affected by the figures of two banks:

(a) One bank with (i) $12 million in securities (stocks) not shown on the books, 

(ii) net sound capital of $30 per $100 of appraised value of assets, (iii) fixed and

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

substandard assets of $24 per $100 of appraised value of assets, (iv) 3-year average 

net earnings of $2.14 per $100 of total assets, and (v) deposits on the date of examination between $10 million and $50 million.

(b) One bank with (i) $7 million in securities, loans, and fixed and miscellaneous 

assets not shown on the books, (ii) net sound capital of $25 per $100 of appraised 

value of assets, (iii) fixed and substandard assets of $7 per $100 of appraised value 

of assets, (iv) 3-year average net earnings of $1.76 per $100 of total assets, and 

(v) deposits on the date of examination of more than $50 million.

The Federal Deposit Insurance Corporation Districts serve the following 

States and possessions:

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 Commercial Banks

Reports of earnings and dividends of banks not submitting reports to the Federal 

Deposit Insurance Corporation are submitted semi-annually on a six months’ basis to 

the Comptroller of the Currency by national banks and by State banks in the District 

of Columbia, and to the Board of Governors of the Federal Reserve System by 

State banks members of that system. Reports of other insured State banks 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 139-141, include figures for the first half of the 

year for banks which submitted reports to the Board of Governors of the Federal 

Reserve System or to the Comptroller of the Currency on June 30, and for the 

second half of the year for those which submitted such reports on December 31; 

and for the full year, or such part as they were in existence, of those banks which 

submitted reports to the Federal Deposit Insurance Corporation on December 31. 

As a consequence, in the case of banks withdrawing from membership in the Federal 

Reserve System during the second half of the year but continuing insurance, figures 

for the first half of the year are included as well as figures for the entire year. In 

the case of insured banks joining the Federal Reserve System during the second 

half of the year, earnings for only the second 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.

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Federal Reserve Bank of St. Louis
EXPLANATORY NOTES 89

Banks operating throughout the year. The figures relating to earnings of 

insured banks, presented in Tables 142-149, and to earnings of insured banks 

submitting reports to the Federal Deposit Insurance Corporation, given in Tables 

152-157, 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 not reporting to the Federal Deposit Insurance 

Corporation the earnings of each individual bank for the first half-year and the 

second half-year have been combined.

Asset and liability averages. The base used in the computation of ratios of 

earnings and dividends, shown in Table 140, consists of the average 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 

banks during the period. The ratios presented in Tables 142-149 and in Tables 

154-157 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 reports for three dates, viz: for banks submitting reports to the Federal Deposit 

Insurance Corporation, December 30, 1939, June 29, 1940, and December 31, 1940; 

for banks submitting reports to other Federal supervisory agencies, March 26, 1940, 

June 29, 1940, and December 31, 1940.

Method of reporting. Reports of earnings and dividends of insured commercial banks are submitted on the same basis, either cash or accrual, depending 

upon the bank’s method of bookkeeping, as the reports of assets and liabilities. 

Except as indicated below, the instructions issued by the three Federal bank 

supervisory agencies are for the most part uniform. Copies of the instructions 

issued to banks reporting to the Federal Deposit Insurance Corporation are available 

upon request.

Rate of income on loans. This term refers to the reported amount of interest 

and discount on loans, divided by the average loans and discounts held on the 

dates indicated. Interest and discount on loans as reported includes renewal, 

mortgage, and other fees charged in connection with loans owned by the bank.

Interest on time and savings deposits. The term “ rate of interest on time 

and savings deposits” refers to the reported amount of interest payments divided 

by the average amount of time and savings deposits reported on 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.

The amount of interest on time and savings deposits paid by banks submitting 

reports to the Federal Deposit Insurance Corporation in 1936, given in Tables 139 

and 150, 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.

Depreciation. Data relating to national banks and to State banks members 

of the Federal Reserve System given in Tables 139-141 differ from those published

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

by the Comptroller of the Currency and the Board of Governors of the Federa 

Reserve System due to differences in the classification of depreciation. In Tables 

139-141 all reported depreciation on banking house, furniture and fixtures is tabulated as a part of current operating expenses. Such depreciation is shown by the 

Comptroller of the Currency and the Board of Governors of the Federal Reserve 

System as a single item under losses and charge-offs.

In the case of insured banks submitting reports to the Federal Deposit Insurance 

Corporation 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.”

Earnings of insured commercial banks submitting reports to the Federal

Deposit Insurance Corporation for 1934 and 1935. Figures for 1934 and 1935, 

shown in Tables 150 and 151, are not comparable with those for subsequent years 

because of several differences in reporting. For 1934 and 1935 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 1934 and 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 1934 and 1935. “ Salaries, 

wages, and fees” were reported as one item in 1934. In both years net profits 

were reconciled to changes in the amount of “ Undivided profits” so that items in 

the table beyond “ Net profits after dividends” were not reported. The asset 

averages for those years are based upon all banks reporting on the call dates specified.

Suspensions, Receiverships, and Mergers

Figures for deposits which appear in Tables 159-164 and for disbursements which 

appear in Tables 160 and 163 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 165 and 169.

Differences between the number of insured banks suspended or merged with the 

financial aid of the Federal Deposit Insurance Corporation, as shown in Table 102 

or in the corresponding tables in previous Annual Reports, and as shown in Tables 

159-165, 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 159, 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 by Table 160, 

19 were treated as follows in the table of changes in the number of banks (Table 103 

in the Annual Report for 1939, 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” ;

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Federal Reserve Bank of St. Louis
EXPLANATORY NOTES 91

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.

Differences between the number and deposits of insured banks included in suspensions and the number and deposits of insured banks included in receiverships 

are due to the cases listed below.

Year of 

closing

Included in suspensions but not in

receiverships:

Reopened................................................... 1935

Reopened................................................... 1937

Taken over by another bank............... 1937

Merged with the financial aid of FDIG 1937 

Merged with the financial aid of FDIC 1938

Receiverships not in same year as

suspensions:

Placed in receivership in 1936............. 1935

Placed in receivership in 1938............. 1937

Included in receiverships but not in

suspensions of insured banks:

Voluntary liquidation listed among 

receiverships (depositors paid by

F D IC )................................................... 1937

Noninsured bank with insured deposits 

at date of suspension (insured status 

having been terminated prior to 

suspension) placed in receivership.. 1938

State

Oklahoma

Kentucky

Tennessee

Iowa

Illinois

Texas

Maryland

Class

Not member FRS 

Not member FRS 

Not member FRS 

National

Not member FRS

Not member FRS 

Not member FRS

Michigan Not member FRS

Tennessee Not member FRS

Case

Deposits Number

$85,000

206,000

122,000

3.594.000

2.795.000

219.000 35

669.000 126

64,000

278,000 162

All banks included in Tables 159-171 are commercial banks with the exception 

of two mutual savings banks. The data concerning these two mutual savings 

banks are as follows:

Year of Case

closing State Class Deposits number

Included in suspensions and in receiverships............................................ 1938 Vermont Not member FRS $2,479,000 157

Included in banks merged with the

financial aid of F D IC ........................ 1939 Indiana Not member FRS 1,584,000 .............

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Federal Reserve Bank of St. Louis
NUMBER OF BANKING OFFICES— END-OF-YEAR

Table 101. N u m b e r a n d C l a s s if i c a t io n o f 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, 1935-19401

co

to

ALL BANKING OFFICES

All banking offices....................................

Insured ..............................................................

Noninsured.......................................................

All banks.........................................................

Insured..........................................................

Noninsured...................................................

All branches..................................................

Insured........................................................ .

Noninsured...................................................

COMMERCIAL BANKING OFFICES

Banking offices.............................................

Insured..........................................................

Members F. R. System: national. . ..

Members F. R. System: State.............

Not members F. R. System.................

Noninsured...................................................

Banks...........................................................

Insured......................................................

Members F. R. System: national. .

Members F. R. System: State..........

Not members F. R. System.............

Noninsured..............................................

Unit banks............................................

Insured............................................... .

Members F. R. System: national.

Members F. R. System: State. ..

Not members F. R. System.........

Noninsured..........................................

United States including possessions

Dec. 31, 

1935

19,312

17,328

1,984

15,940

14,182

1,758

3,372

3,146

226

18,622

17,265

6,7 2 k

1,956

8,585

1,357

15,374

14,126

5,386

1,001

7,739

1,248

14,518

13,312

5,198

856

7,258

1,206

Dec. 31, 

1936

19,203

17,297

1,906

15,714

14,029

1,685

3,489

3,268

221

18,516

17,234

6,733

2,03k

8,U67

1,282

15,151

13,973

5,325

1,051

7,597

1,178

14,257

13,119

5,128

898

7,093

1,138

Dec. 31, 

1937

19,050

17,241

1,809

15,444

13,853

1,591

3,606

3,388

218

18,364

17,178

6,7U8

2,075

8,355

1,186

14,882

13,797

5,260

1,081

7,U56

1,085

13,958

12,912

5,06k

922

6,926

1,046

Dec. 31, 

1938

18,905

17,133

1,772

15,257

13,709

1,548

3,648

3,424

224

18,220

17,073

6,727

2,106

8,2k0

1,147

14,703

13,661

5,22k

1,11k

7,323

1,042

13,764

12,762

5,028

953

6,781

1,002

Dec. 31, 

1939

18,778

17,069

1,709

15,085

13,589

1,496

3,693

3,480

213

18,095

16,994

6,710

2,177

8,107

1,101

14,534

13,538 

5,187

1,1 75

7,176

996

13,579

12,625

k,990

1,010

6,625

954

Dec. 31, 

1940

18,678

17,015

1,663

14,950

13,495

1,455

3,728

3,520

208

17,992

16,931

6,686

2,3k5

7,900

1,061

14,399

13,442

5,lkk

l,3k2

6,956

957

13,425

12,509 

k,9k3

1,1 72

6,39k

916

United States excluding possessions

Dec. 31, 

1935

19,218

17,324

1,894

15,904

14,179

1,725

3,314

3,145

169

18,528

17,261 

6,72 k

1,956

8,581

1,267

15,338

14,123

5,386

1,001

7,736

1,215

14,494

13,310

5,198

856

7,256

1,184

Dec. 31, 

1936

19,109

17,290

1,819

15,679

14,025

1,654

3,430

3,265

165

18,422

17,227

6,733

2,03k

8,k60

1,195

15.116

13,969

5,325

1,051

7,593

1,147

14,233

13.117

5,128

898

7,091

1,116

Dec. 31, 

1937

18,958

17,234

1,724

15,410

13,849

1,561

3,548

3,385

163

18,272

17,171

6,7k8

2,075

8,3k8

1,101

14,848

13,793

5,260

1,081

7,k52

1,055

13,935

12,910

5,06k

922

6,92k

1,025

Dec. 31, 

1938

18,813

17,126

1,687

15,223

13,705

1,518

3,590

3,421

169

18,128

17,066

6,727

2,106

8,233

1,062

14,669

13,657 

5,22 k

1,11k

7,319

1,012

13,741

12,760

5,028

953

6,779

981

Dec. 31, 

1939

18,687

17,062

1,625

15,049

13,585

1,464

3,638

3,477

161

18,004

16,987

6,710

2,177

8,100

1,017

14,498

13,534

5,187

1,175

7,172

964

13,554

12,623

k,990

1,010

6,623

931

Dec. 31, 

1940

18,585

17,008

1,577

14,912

13,491

1,421

3,673

3,517

156

17,899

16,924

6,686

2,3k5

7,893

975

14,361

13,438

5,lkk

l,8k2

6,952

923

13,398

12,507

k,9k3

1,172

6,392

891

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks operating branches................ 856 894 924 939 955 974 844 883 913 928 944 963

Insured.................................................... 814 854 885 899 913 933 813 852 883 897 911 931

Members F. R. System: national. . 188 197 196 196 197 201 188 197 196 196 197 201

Members F. R. System: State......... 11,5 153 159 161 165 170 145 153 159 161 165 170

Not members F. R. System............. 481 504 530 542 551 562 480 502 528 540 51,9 560

Noninsured............................................. 42 40 39 40 42 41 31 31 30 31 33 32

Branches........................................................ 3,248 3,365 3,482 3,517 3,561 3,593 3,190 3,306 3,424 3,459 3,506 3,538

Insured........................................................ 3,139 3,261 3,381 3,412 3,456 3,489 3,138 3,258 3,378 3,409 3,453 3,486

Members F. R. System: national. . .. 1,338 1,408 1,1,88 1,503 1,523 1,51,2 1,338 1,1,08 1,1,88 1,503 1,523 1,51,2

Members F. R. System: State............. 955 983 994 992 1,002 1,003 955 983 991, 992 1,002 1,003

Not members F. R. System................. 846 870 899 917 931 944 845 867 896 91A 928 91,1

Noninsured................................................. 109 104 101 105 105 104 52 48 46 50 53 52

A ll offices of banks operating

branches........................................... 4,104 4,259 4,406 4,456 4,516 4,567 4,034 4,189 4,337 4,387 4,450 4,501

Insured.................................................... 3,953 4,115 4,266 4,311 4,369 4,422 3,951 4,110 4,261

1,681,

4,306 4,364 4,417

Members F. R. System: national. 1,526 1,605 1,68 k 1,699 1,720 1,71,3 1,526 1,605 1,699 1,720 1,71,3

Members F. R. System: State......... 1,100 1,136 1,153 1,153 1,167 1,173 1,100 1,136 1,153 1,153 1,167 1,173

Not members F. R. System............. 1,327 1,371* 1,1,29 1,1,59 1,1,82 1,506 1,325 1,369 1,424 1,45 A 1,1*77 1,501

Noninsured............................................ 151 144 140 145 147 145 83 79 76 81 86 84

M U TU AL SAVINGS B A N K IN G OFFICES

Banking offices............................................... 690 687 686 685 683 686 690 687 686 685 683 686

Insured............................................................ 63 63 63 60 75 84 63 63 63 60 75 84

Noninsured..................................................... 627 624 623 625 608 602 627 624 623 625 608 602

Banks2............................................................. 566 563 562 554 551 551 566 563 562 554 551 551

Insured........................................................ 56 56 56 48 51 53 56 56 56 48 51 53

Noninsured................................................. 510 507 506 506 500 498 510 507 506 506 500 498

Unit banks............................................... 488 485 485 475 471 470 488 485 485 475 471 470

Insured .................................................... 52 52 52 44 43 43 52 52 52 44 43 43

Noninsured............................................. 436 433 433 431 428 427 436 433 433 431 428 427

Banks operating branches................ 78 78 77 79 80 81 78 78 77 79 80 81

Insured .................................................... 4 4 4 4 8 10 4 4 4 4 8 10

Noninsured............................................. 74 74 73 75 72 71 74 74 73 75 72 71

Branches........................................................ 124 124 124 131 132 135 124 124 124 131 132 135

Insured........................................................ 7 7 7 12 24 31 7 7 7 12 24 31

N oninsured................................................. 117 117 117 119 108 104 117 117 117 119 108 104

A ll offices of banks operating

branches........................................... 202 202 201 210 212 216 202 202 201 210 212 216

Insured .................................................... 11 11 11 16 32 41 11 11 11 16 32 41

Noninsured............................................. 191 191 190 194 180 175 191 191 190 194 180 175

1 For explanation of classification of banking offices, see page 81. 

* N ot members of the Federal Reserve System. to

CONUMBER OF BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. A n a l y s i s OF CHANGES IN NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES

i n t h e 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 u r in g 1940

All banking offices Commercial banking offices Mutual savings 

banking offices

Insured

Total Insured Noninsured Total

Total

Members F. R. 

System

Not 

members 

F. R. 

System

Noninsured Total Insured

Noninsured

National State

ALL BAN K IN G OFFICES

18,678 17,015 1,663 17,992 16,931 6,686 2,345 7,900 1,061 686 84 602

18,778

-100

17,069 1,709 18,095 16,994 6,710 2,177 8,107 1,101 683 75 608

N et ch an ge du rin g yea r ................................................................................ -54 -46 -103 -63 -24 + 168 -207 -40 + 3 + 9 -6

Changes resultin g fro m —

Offices o p en ed ................................................................................................ + 135

+ 43

+ 118 + 17 + 132 + 117 + 38 + 13 + 66 + 15 + 3 + 1 + 2

Banks............................................................................................................. + 30 + 13 + 43 + 30 + 4 + 26 + 13

Branches........................................................................................................ + 92 

-235

+ 88 + 4 + 89 + 87 + 34 + 13 + 40 + 2 + 3 + 1 + 2

Offices closed .................................................................................................. -199 -36 -235 -199 -71 -25 -103 -36

Banks............................................................................................................. -178 -144 -34 -178 -144 -46 -12 -86 -34

Branches........................................................................................................ -57 -55 -2 -57 -55 -25 -13 -17 -2

C hanges in classification— n et total . ........................... + 27 -27 + 19 + 9 + 180

+ 6

-170 -19 + 8

+ 2

-8

Noninsured banks to insured banks .................................... + 20 -20 + 18 + 12 -18 -2

Noninsurrd branches to insured branches .................................. + 7 -7 + 1 + 1 -1 + 6 -6

Among insured banks . . .................................... -1 + 173 

+ 1

-172

Among branches of insured banks . ........................................ + 10 -11

BANKS

N um ber o f banks, D ecem ber 31, 1940..................................................... 14,950

15,085

13,495 1,455 14,399

14,534

-135

13,442 5,144 1,342 6,956 957 551 53 498

N um ber o f banks, D ecem ber 31, 1939..................................................... 13,589 1,496 13,538 5,187

-43

1,175

+167

7,176 996 551 51 500

N et ch an ge durin g y ea r............................................................................ -135 -94 -41 -96 -220 -39 + 2 -2

C hanges resultin g from —

Banks beginn in g deposit op era tion s.............................................. + 43

+ 36 

+ 1 

+ 6

-178

+ 30 + 13 + 43

+ 36 

+ 1 

+ 6

-178

+ 30 + 4 + 26 + 13

New banks1............................................................................................... + 28 + 8 +.28 

^ + 1 

+ 1

-144

+ 4 + 24 + 8

Reopening of bank suspended in previous year............................. + 1 

+ 1

+ 1

Financial institutions becoming banks of deposit.......................... + 5 + 1 + 5 

Banks ceasing deposit o p e r a t io n s .................................................. -144 -34 -46 -12 -86 -34

Suspended banks not reopened or succeeded.................................. -22 -19 -3 -22 -19 -1 -18 -3

Merged with financial aid of FDIC— net decrease........................ -20 -20 -20 -20 -6 -3 -11

Other mergers, consolidations, and absorptions— net decrease. . 

Other liquidations...................................................................................

-76 -72 -4 -76 -72 -36 -8 -28 -4

-52 -33 -19 -52 -33 -3 -1 -29 -19

Banks ceasing to engage in deposit banking2.................................. -8 -8 -8 -8

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N oninsured ban ks b eco m in g in su red ...........................................

Succession to noninsured bank..........................................................

Banks suspended and reopened..........................................................

Admission to F. R . System.................................................................

Admissions to insurance, banks operating at beginning of year.

Changes in classification a m on g insured b an 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 title......................................................................................

Changes in location...............................................................................

Changes in title and location............................................................ .

Changes in names of town........................... ..................................... .

BRANCHES

N u m ber o f bran ch es, D ecem ber 31, 1940. 

N u m ber o f branch es, D ecem ber 31, 1939.

N et ch an ge d u rin g ye a r .................................................................

C hanges resultin g fro m —

B ranches opened for b u sin ess................................................

Absorbed banks converted into branches..............................

Branches replacing banks or branches closed or relocated. 

Other branches opened...............................................................

B ranches d iscon tin u ed .....................................................................

B ranches o f n on in su red banks adm itted to in su ran ce___

C hanges in classification a m on g branches o f insured banks

Branches of banks admitted to F. R. System............................

Branches transferred as result of absorptions or successions.. 

From State banks to national banks............................................

Changes n ot involving n u m ber in any class:

Branches transferred as results of absorptions or successions... .

Changes in title......................................................................................

Changes in location...............................................................................

Change in title and location...............................................................

Name of town changed.........................................................................

3,728

3,693

+ 35

+ 92

+41 

+ 6

+ 45

-57

+ 1

+ 1 + 6

+ 12

+ 20

3,520

3,480

+ 40

+ 88

+ 40 

+ 6

+ 42

-55

+ 7

-20-1-1

-6

-12

208

213

-5

+ 4 

+ 1

+ 3

-2

-7

3,593

3,561

+ 32

+ 89 

+ 41 

+ 6

+ 42

-57

+ 1

+ 1

+ 6

+ 10

+18

3,489

3,456

+ 33

+ 87

+ 40 

+ 6

+ 41

-55

+ 1

-1

+ 15 

-16

1,542

1,523

+ 19

+ 34

+21

+ 13 

-25

+ 10

+ 10

' + 6

+6

+ 173-8 

+ 2

+ 182 

-3

1,003

1,002

+ 1

+ 13

+ 8

+ 5 

-13

+ 1

+ 8

-7

+ 12

+ 1

+ 1

' +10

-172

-7 

+ 14 

-182 

+ 3

-18-1-1

-6

-10

+ 2

+ 2

11

3

5

944

931

+ 13

+ 40

+ 11

+ 6

+ 2 3

-17

+ 1

-11

104

105

+ 2 

+ 1

■ * + i

-2

-1

135

132

+ 3

+ 3

+ 3

31

24

+ 7

+ 1

' + 1

+6

104

108

+ 2

‘ + 2

1 Includes, among insured banks not members of the Federal Reserve System, 1 successor to a cooperative credit association, and 2 banks which replaced but did not directly 

succeed insured banks which had suspended; includes, among noninsured banks, 2 banks in the possessions.

2 Includes some banks which ceased accepting deposits prior to 1940.

8 Includes 2 charter renewals, 1 among State banks members of the Federal Reserve System, and 1 among insured banks not members of the Federal Reserve System; ^ 

includes, among noninsured banks, 3 incorporations of private banks.

N o t e : For reconcilement of figures relating to number of suspensions, receiverships, and mergers with FD IC aid, see page 90.

Back figures— See the following Annual Reports: 1939, p. 88; 1938, p. 124; 1937, pp. 70-72; 1936, pp. 102-04; 1935, pp. 144-46; 1934, p. 177.

NUMBER OP BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. N u m b e r OF OPERATING BANKING OFFICES, DECEMBER 31, 1940 

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

<X> <Ji

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 Total offices

Members F. R. 

System

Not 

members 

F. R.

National State System

United States and possessions— total......... 18,678 17,015 1,663 17,992 16,931 6,686 2,345 7,900 1,061 686 84 602 91.1 94.1 12.2

All banks............................................................... 14,950 13,495 1,455 14,399 13,442 5,144 1,342 6,956 957 551 53 498 90.3 93.4 9.6

Unit banks........................................................ 13,895 12,552 1,3 US 13,1+25 12,509 A,91+3 1,172 6,391+ 916 1+70 us 1+27 90.3 93.2 9.1

Banks operating branches............................... 1,055 91+3 112 971+ 933 201 170 562 1+1 81 10 71 89.1+ 95.8 12.3

Branches................................................................ 3,728 3,520 208 3,593 3,489 1,542 1,003 944 104 135 31 104 94.4 97.1 23.0

United States..................................................... 18,585 17,008 1,577 17,899 16,924 6,686 2,345 7,893 975 686 84 602 91.5 94.6 12.2

All banks........................................................... 14,912 13,491 1,421 14,361 13,438 5,144 1,342 6,952 923 551 53 498 90.5 93.6 9.6

Unit banks.................................................... 13,868 12,550 1,318 13,398 12,507 l+,91+3 1,172 6,392 891 1+70 1+3 1+27 90.5 93.3 9.1

Banks operating branches.......................... i , o u 91+1 103 963 931 201 170 560 32 81 10 71 90.1 96.7 12.3

Branches............................................................ 3,673 3,517 156 3,538 3,486 1,542 1,003 941 52 135 31 104 95.8 98.5 23.0

Possessions.......................................................... 93 7 86 93 7 7 86 7.5 7.5

All banks........................................................... 38 4 34 38 4 4 34 10.5 10.5

Unit banks.................................................... 27 2 25 27 2 2 25 7.1+ 7.1+

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

Alabam a.......................................................... 237 229 8 237 229 84 18 127 8 96.6 96.6

All banks....................................................... 217 209 8 217 209 65 17 127 8 96.3 96.3

Unit banks................................................ 211+ 206 8 211+ 206 63 16 127 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 s 2 3 100.0 100.0

Banks operating branches...................... 4 A 4 k 2 2 100.0 100.0

Branches........................................................ 26 26 26 26 21 5 100.0 100.0

Arkansas.......................................................... 228 222 6 228 222 51 7 164 6 97.4 97.4

All banks....................................................... 213 207 6 213 207 50 7 150 6 97.2 97.2

Unit banks ............................................. 199 193 6 199 193 1+9 7 187 6 97.0 97.0

Banks operating branches...................... 1U 1U 1U 1U 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
California...................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

C o lo r a d o .....................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Connecticut..............................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Delaware.....................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

District of Colum bia............

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Florida.........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Georgia.......................................

All banks.................................

Unit banks...........................

Banks operating branches.

Branches..................................

I d a h o ...........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

1,051 I 1,043 8 1,051 1,043 777 143

205 198 7 205 198 98 17

172 166 6 172 166 89 9

S3 321 33 32 9 8

846 845 1 846 845 679 126

146 1397 146 139 78 15

146 139 7 146 139 78 15

1U6 139 7 11+6 139 78 15

206 108 98 133 108 57

7

189 100 89 117 100 52

6

182 95 87 111 95 U9

5

7

5 2 6 5

3

1

17

8

9 16 8 5

1

60 56 4 57 56 15 7

45 42 3 43 42 15 4

37 35 2 36 35 15

1

8

7

1

7

7

3

15 14

1 14 14 3

52 52 52 52 26 17

22 22 22 22 9

6

11 11 11 11

U

2

11 11 11 11 5

U

30 30 30 30 17 11

169 165

4 169 165 52 5

167 164 3 167 164 62

5

165 163

2 165 163 52 5

2 1 1

2

1

2 1 12

1

368 290 78 368 290 67 23

342 266 76 342 266 51 18

331 257 7J> 331 257 US 15

11

9 2 11

9 3 3

26 24

2 26 24 16 5

87 86 1 87 86 40 22

50 49 1 50 49 18 9

US U2

1 us U2 IS 8

7

7 7 7 5 1

37 1 37 37 37 22 13

123

83

68

15

40

46

46

U6

44

42

U112

34

23 

19U

1197522

108

107

10611

200

197 

19 U33

24

22

2112

8 99.2 99.2 7 96.6 96.6 6 96.5 96.5 1 97.0 97.0 1 99.9 99.9 7 95.2 95.2

7 95.2 95.2

7 95.2 95.2

25 73 73 52.4 81.2

17 72 72 52.9 85.5

16 71 71 52.2 85.6

1 1 1 71.U

47.1

83.3

8 1 1 50.0 1 3 3 93.3 98.2 1 2 2 93.3 97.7

1 1 1 9U-6

87.5

97.2

1 1 100.0 1 1 93.3 100.0

100.0 100.0

100.0 100.0

100.0 100.0

100.0 100.0

100.0 100.0

4 97.6 97.6 3 98.2 98.2 2 98.8 98.8 1 50.0 50.0 1 50.0 50.0

78 78.8 78.8

76 77.8 77.8

7U2

77.6 77.6

81.8 81.8

2 92.3 92.3

1 98.9 98.9

1 98.0 98.0 1 97.7 97.7

100.0 100.0

100.0

NUMBER OF BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
CO00

T a b le 103. N um ber o f O peratin g Banking O ffic e s, D ecem ber 31, 1940— 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

Mutua

savings

banking

offices

Total Insured Noninsured Total

Total

Members F. R. 

System

Not 

members 

F. R. 

System

Noninsured Total Insured Noninsured

All

banking

offices

National State

840 824 16 840 824 337 82 405 16 98.1 98.1

840 824 16 840 824 337 82 405 16 98.1 98.1

Unit banks 8!>0 82U 16 8U0 82U 33 7 82 U05 16 98.1 98.1

In d ia n a ............................................................ 569 544 25 565 541 132 75 334 24 4 3 1 95.6 95.8 75.0

All banks....................................................... 502 478 24 498 475 124 60 291 23 4 3 1 95.2 95.4 75.0

Unit banks................................................ U60

1,2

U37 23 U56 W 118 57 259 22 h 3 1 95.0 95.2 75.0

Banks operating branches hi

66

1 U2 U

66

6 3 32 1 97.6 97.6

Branches • . 67 1 67 8 15 43 1 98.5 98.5

814 733 81 814 733 103 45 585 81 90.0 90.0

All banks 658 586 72 658 586 103 45 438 72 89.1 89.1

Unit banks 5U

117

156

U75

111

66 5U1 U75

111

103 U5 327 66 87.8 87.8

Banks operating branches 6 117 111 6 91+.9 91+.9

Branches 147 9 156 147 147 9 94.2 94.2

Kansas 662 449 213 662 449 181 25 243 213 67.8 67.8

All banks 662 449 213 662 449 181 25 243 213 67.8 67.8

Unit banks 662 U 9 213 662 U 9 181 25 2U3 213 67.8 67.8

K en tu ck y ........................................... 431 400 31 431 400 114 19 267 31 92.8 92.8

All banks ............................................. 402 371 31 402 371 95 17 259 31 92.3 92.3

Unit banks 389 358 31 389 358 92 15 251 31 92.0 92.0

Banks operating branches 13 13 13 13 3 2 8 100.0 100.0

Branches 29 29 29 29 19 2 8 100.0 100.0

Louisiana . . . ........... . . . 199 198 1 199 198 57 9 132 1 99.5 99.5

All banks ........... 145 144 1 145 144 29 8 107 1 99.3 99.3

Unit banks . ........................ 117 116 1 117 116 22 7 87 1 99.1 99.1

Banks operating branches 28 28 28 28 7 1 20 100.0 100.0

54 54 54 54 28 1 25 100.0 100.0

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..................................

Massachusetts.........................

All banks.................................

Unit banks...........................

Banks operating branches.

Branches..................................

Michigan....................................

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..................................

160 118 42 126 112 41

100 65 35 68 59 37

77 U8 29 U7 U2 3U

23 17 6 21 17 3

60 53 7 58 53

4

281 254 27 253 252 73

185 174 11 173 172 63

158 1U9

9 148 1U7 60

27 25 2 25 25 3

96 80 16 80 80 10

543 307 236 318 307 186

393 192 201 201 192 125

325 150 175 158 150 107

68 k2 26 U3 U2 18

150 115 35 117 115 61

613 579 34 613 579 132

450 421 29 450 421 76

U05 379 26 U05 379 66

U5 U2

3 U5 U2 10

163 158 5 163 158 56

681 651 30 680 650 194

675 645 30 674 644 188

673 6J+3 30 672 6U2 186 2 2 2 2 2

6 6

6 6 6

250 239 11 250 239 25

207 196 11 207 196 24

182 171 11 182 171 23

25 25 25 25

1

43 43 43 43

1

620 581 39 620 581 85

620 581 39 620 581 85

620 581 39 620 581 85

111 111 111 111 42

111 111 111 111 42

111 111 111 111 U2

31

5 1U

26

53

10u6

43

66

29

15U

37

205

144

133

11

61

21

21

21

40

177

10

23

126

99

83

16

27

55

10

17

242

201

180

21

41

435

435

U35

212

170

lb6

2U

42

431

431

U31

14 34

6 28 73.8 88.9 17.6

9 32

6 26 65.0 86.8 18.8

5 SO

6 2U 62.3 89.U 20.0

u

2

2 73.9 81.0

5 2 2 88.3 91.4

1 28

2 26 90.4 99.6 7.1

1 12

2 10 94.1 99.4 16.7

1 10

2

8 9U.3 99.3 20.0

2

2 92.6 100.0

16 16 83.3 100.0

11 225 225 56.5 96.5 9 192 192 48.9 95.5 8 167 167 U6.2 9h.9 1 25 25 61.8 97.7 2 33 33 76.7 98.3

34 94.5 94.5

29 93.6 93.6

26 93.6 93.6 3 93.3 93.3 5 96.9 96.9

30

1

1 95.6 95.6 100.0

30

1

1 95.6 95.5 100.0

30 1

1 95.5 95.5 100.0

100.0 100.0

100.0 100.0

11 95.6 95.6

11 94.7 94.7

11 9U-0 9U.0

100.0 100.0

100.0 100.0

39 93.7 93.7

39 93.7 93.7

39 93.7 93.7

100.0 100.0

100.0 100.0

100.0 100.0

M ontana.....................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

NUMBER OF BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. N um ber OF O p eratin g B anking O ffic e s , D ecem ber 31, 1940— 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

F. R.

System

Noninsured Total Insured Noninsured

All

banking

offices

National State

Nebraska.......................................................... 419 362 57 419 362 135 14 213 57 86.4 86.4

417 360 57 417 360 133 14 213 57 86.3 86.3

Unit banks . . . . U15

2

858 57 U15

2

858 181 1U 213 57 86.3 86.8

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 2 3 100.0 100.0

All banks............ 11 11 11 11 6 2 3 100.0 100.0

Unit banks. . . . . . . . . . . 9 9 9 9 u £ 8 100.0 100.0

¥ Banks operating branches 2 2 2 2 2 100.0 100.0

Branches.............................. . 11 11 11 11 11 100.0 100.0

it- t>

New 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 b a n k s .............................................. 10 u

8

55 U 9

2

62 55 51 1 8 7 U2 U2 52.9 88.7

Banks operating branches 1 2 1 1 1 1 1 83.3 50.0

Branches ............... .. •.. 3 1 2 2 1 1 1 1 1 33.3 50.0

New Jersey...................................................... 502 485 17 474 470 259 112 99 4 28 15 13 96.6 99.2 53.6

All banks....................................................... 380 365 15 356 352 225 55 72 4 24 13 11 96.1 98.9 54.2

Unit banks................................................ 826 812 U

1

805 801 207 33 61 u 21 11 10 95.7 98.7 52 4

Banks operating branches...................... 5U

122

53 51 51 18 22 11 3 2 1 98.1 100.0 66.7

Branches........................................................ 120 2 118 118 34 57 27 4 2 2 98.4 100.0 50.0

New Mexico • .............................. 48 47 1 48 47 22 5 20 1 97.9 97.9

All banks . • . .. ••• . . . . 41 40 1 41 40 22 5 13 1 97.6 97.6

Unit banks ................................ 36 85 1 86 85 22 5 8 1 97.2 97.2

Banks operating branches 5 5 5 5 5 100.0 100.0

Branches ....... ........ 7 7 7 7 7 100.0 100.0

New Y ork........................................................ 1,565

869

1,373

723

192 1,379

735

1,363 612 529 222 16 186 10 176 87.7 98.8 5.4

All banks................................................. 146 719 428 129 162 16 134 4 130 83.2 97.8 3.0

Unit banks................................................ 785 627 108 6kl 626 897 86 1U8 15 9U 1 93 85.3 97.7 1.1

Banks operating branches...................... 18U

696

96 88 9U

644

93 31 us 19 1 UO 8 87 71.6 98.9 7.5

650 46 644 184 400 60 52 6 46 93.4 100.0 11.5

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
North Carolina............................................. 354 345 9 354 345

All banks....................................................... 227 220 7 227 220

183 177 6 183 177

kk US

125

1 kk

127

k3

127 2 125

North Dakota................................................ 184 171 13 184 171

163 150 13 163 150

1U9

lk

21

136 13 lk9

lk

21

136

Banks operating branches...................... lh

21

lk

Branches........................................................ 21

O hio................................................................... 869 850 19 866 847

All banks....................................................... 696 677 19 693 674

657 638 19 65k

39

635

89 39 39

Branches........................................................ 173 173 173 173

Oklahoma....................................................... 390 380 10 390 380

390 380 10 390 380

Unit banks................................................ 390 380 10 390 380

Banks operating branches......................

Branches........................................................

Oregon.............................................................. 140 138 2 139 137

All banks....................................................... 72 70 2 71 69

Unit banks................................................ 67 65 2 66 6k

Banks operating branches...................... 5 5 5 5

Branches.................................. ..................... 68 68 68 68

Pennsylvania................................................. 1,193

1,082

1,033

U9

111

1,165

1,058

1,012

k6

107

28 1,172

1,075

l t030

1,145

1,052 

1,010

All banks....................................................... 24

Unit banks................................................ 21

Banks operating branches...................... 3 k5

97

k2

Branches........................................................ 4 93

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............................................. 172 135 37 172 135

All banks....................................................... 150 113 37 150 113

Unit banks................................................ 1 U

6

107 37 lkk

6

107

Banks operating branches...................... 6 6

Branches........................................................ 22 22 22 22

51 18 276 9 97.5 97.5

44 10 166 7 96.9 96.9

kl 8 128 6 96.7 96.7

3 2 38 1 97.7 97.7

7 8 110 2 98.4 98.4

45 126 13 92.9 92.9

45 105 13 92.0 92.0

k5 91 13 91.3 91.3

lk 100.0 100.0

21 100.0 100.0

279 234 334 19 3 3 97.8 97.8 100.0

242 121 311 19 3 3 97.3 97.3 100.0

23k 105 296 19 3 3 97.1 97.1 100.0

8 16 15 100.0 100.0

37 113 23 100.0 100.0

208 11 161 10 97.4 97.4

208 11 161 10 97 4 97.4

208 11 161 10 97.k 97.k

91 6 40 2 1 1 98.6 98.6 100.0

26 6 37 2 1 1 97.2 97.2 100.0

2k 6 3k 2 1 1 97.0 97.0 100.0

2 3 100.0 100.0

65 3 100.0 100.0

729 119 297 27 21 20 1 97.7 97.7 95.2

688 85 279 23 7 6 1 97.8 97.9 85.7

669 73 268 20 3 2 1 98.0 98.1 66.7

19 12 11 3 k k 93.9 93.3 100.0

41 34 18 4 14 14 96.4 95.9 100.0

20 21 3 17 11 11 61.1 72.1

12 2 2 7 9 9 50.0 69.6

9 1 2 8 8 50.0 83.3

s 2 1 5 1 1 50.0 5 k-5

8 19 1 10 2 2 70.0 73.7

39 6 90 37 78.5 78.5

21 5 87 37 75.3 75.3

19 k 8k 37 7 k.3 7 k >3

2 1 3 100.0 100.0

18 1 3 100.0 100.0

NUMBER OF BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 103. N um ber o f O peratin g Banking O ffic e s, D ecem ber 31, 1940— 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

Comm ercial

banking

offices

Mutual

savings

banking

offices

Total Insured Noninsured Total

Total

Members F. R. 

System

Not 

members 

F. R.

System

Noninsured Total Insured Noninsured

All

banking

offices

^National State

202 201 1 202 201 60 23 118 1 99.5 99.5

164 163 1 164 163 40 23 100 1 99.4 99.4

Unit banks HA

20

IAS

20

1 1U

20

11+3

20

36 23 8A 1 99.3 99.3

Banks operating branches L 16 100.0 100.0

Branches 38 38 38 38 20 18 100.0 100.0

T en n essee........................................................ 348 339 9 348 339 89 16 234 9 97.4 97.4

Alt banks....................................................... 297 288 9 297 288 71 6 211 9 97.0 97.0

Unit banks 277 268 9 277 268 67 5 196 9 96.8 96.8

Banks operating branches 20 20 20 20 a 1 15 100.0 100.0

Branches 51 51 51 51 18 10 23 100.0 100.0

T exa s............................... ................. 858 781 77 858 781 446 79 256 77 91.0 91.0

All banks.................................... . . . . 858 781 77 858 781 446 79 256 77 91.0 91.0

Unit banks 858 781 77 858 781 U 6 79 256 77 91.0 91.0

U tah .. 72 72 72 72 21 20 31 100.0 100.0

All banks 60 60 60 60 13 20 27 100.0 100.0

Unit banks 55 55 55 55 11 20 2A

3

100.0 100.0

Banks operating branches . . . . 5 5 5 5 2 100.0 100.0

Branches 12 12 12 12 8 4 100.0 100.0

V e r m o n t.......................................................... 102 102 85 85 43 42 17 17 100.0 100.0 100.0

All banks....................................................... 81 81 73 73 41 32 8 8 100.0 100.0 100.0

Unit banks ........................................... 72 72 65 65 39 26 7 7 100.0 100.0 100.0

Banks operating branches...................... 9 9 8 8 2 6 1 1 100.0 100.0 100.0

Branches.. .................................................... 21 21 12 12 2 10 9 9 100.0 100.0 100.0

V irginia . . . . . . . . . . . 385 384

312

273

1 385 384 145 54 185 1 99.7 99.7

All banks . . ................. 313 

27 A

39

1 313

27A

312

273

130 46 136 1 99.7 99.7

Unit banks .. ................... 1 12 A

6

A 2 107 1 99.6 99.6

Banks operating branches.................... 39 39 39 A 29 100.0 100.0

Branches........................................................ 72 72 72 72 15 8 49 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Washington..............................

All banks..................................

Unit banks...........................

Banks operating 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..................................

224

137

128

9

87

180

179

178

1

1

700

570

130

220

133

12U

9

87

174

173

172

1

1

687

558

1*77

81

129

58

58

58

221

134

125

9

87

180

179

178

1

1

696

566

U8hr

217 127 15 75 4 3 3 98.2 98.2 100.0

130 43 14 73 4 3 3 97.1 97.0 100.0

121 37 13 71 U 3 3 96.9 96.8 100.0

9 6 1 2 100.0 100.0

87 84 1 2 100.0 100.0

174 77 21 76 6 96.7 96.7

173 77 21 75 6 96.6 96.6

172 77 21 7U

1

6 96.6 96.6

1 100.0 100.0

1 1 100.0 100.0

684

555

U7U

81

117

103

100

3

41

34

30

U

526

418

3U

7U

108

12

11

10

1

4

4

U

3

3

3

1

1

1

98.1

97.9

97.7

98.8

98.3

98.1

97.9

98.8

75.0

75.0

75.0

129 14 7 1 99.2 99.2

58 26 9 23 100.0 100.0

58 26 9 23 100.0 100.0

58 26 9 23 100.0 100.0

2 2 16 11.1 11.1

2 2 15 11.8 11.8

2 2 U

1

12.5 12.5

1

2 2 39 4.9 4.9

1 1 6 14.3 14.3

4

1 1 2 33.3 33.3

1 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 1 100.0 100.0

2 2 100.0 100.0

Possession

Alaska1........................................

All banks..................................

Unit banks..........................

Banks operating branches.

Branches..................................

Hawaii2.......................................

All banks.................................

Unit banks...........................

Banks operating branches.

Branches..................................

Puerto R ico...............................

All banks.................................

Unit banks..........................

Banks operating branches.

Branches..................................

Virgin Islands3........................

All banks..................................

Unit banks..........................

Banks operating branches.

Branches..................................

1 Includes 4 national banks (all unit banks), 2 among insured banks not members of the Federal Reserve System, and 2 among noninsured banks.

2 Includes, among noninsured banks, 1 national bank operating 14 branches.

3 Includes, among insured banks not members of the Federal Reserve System, 1 national bank operating 2 branches.

Back figures— See the following Annual Reports: 1939, p. 90; 1938, p. 126; 1937, p. 73; 1936 p. 105; 1935, pp. 122-131.

NUMBER OF BANKING OFFICES— END-OF-YEAR 103

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Federal Reserve Bank of St. Louis
Table 104. ANALYSIS OF ADMISSIONS TO AND TERMINATIONS OF INSURANCE IN EACH CLASS OF BAN K , 1934-1940 g

_________________________________________________________________________________________________ ^

1934-1940 1935

Total

Under 

temporary plan

Under 

permanent plan

1934

Jan. 1- 

Aug. 22

Aug. 23- 

Dec. 31 

1936 1937 1938 1939 1940

ALL BANKS

U3,201

13,495

1,977

509

13,201

14,219

1,624

405

14,219

13,495

U3.201 14,217 14,219 14,182 14,029 13,853 13,709 13,589

14,217 14,219

194

14,182 14,029 13,853 13,709 13,589 13,495

353 1,430

355

42 83 82 48 48 50

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.............................................. 104 50 14 33 25 11 11 10

Banks previously insured, or successors to such banks®................. 22 2 20 1 1 3 4 1 2 5 5

Financial institutions operating January 1, 1934, but not engaged 

in deposit banking, or successors to such institutions4............... 13 13 1 2 3 3 3 1

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 . ............................................ 1,006

86

989 17 921 68 5 6 2 4

Successors to or reorganizations of banks in receivership or in 

process of liquidation® . . ................................................... 76 10 60 16 5 3 1 1

Banks organized and opened since deposit insurance became effective:

Banks opened and admitted to insurance in the same calendar 

year.......................................................................................................... 305 142 163 93 49 14 32 45 21 24 27

Banks opened since January 1, 1934, prior to year of admission 

to insurance or successors to such banks...................................... 35 10 25 10 3 5 6 5 6

Financial institution opened since January 1, 1934, but not 

engaged in deposit banking prior to year of admission to 

insurance • ••••••••••••••••••••••••••••*•••#• 1 1 1

Admissions directly offset by terminations— total......................... 939 248 691 193 55 23 120 117 78 131 222

Banks succeeding other banks in same class7........................................ 137 71 66 53 18 3 15 18 8 16 6

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.....................................

186

6

41

1

145

5

30 11

1

6

2

30

1

35

2

18 25 31

31 6 25 3 3 6 6 5 5 3

579 129 450 107 22 i.2 68 56 47 85 182

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 FD IC — net reduction............

Other terminations:

Withdrawals from insurance of operating banks (excluding those

readmitted during same yea r)..........................................................

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

Banks withdrawing from F. R . System and admitted to insurance..

Insured banks admitted to F . R . System8.............................................

N ATIO N AL BANKS M EM BERS OF TH E 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............

1,078 414 191 80 236 258 192 168 144

199

105

9 15 9 40

22

50

20

49

22

32

21

19

20

4 191 33 1 3

6 6 8 3 1 2

588

173

3

172

36

95

40

60

11

139

31

150

36

1

77

37

2

90

25

72

33

690 193 56 22 120 117 78 131 222

66

145

4

53

30

18

11

2

3

6

1

15

30

1

18

35

2

8

18

16

25

6

31

25 3 3 6 6 5 5 3

450 107 22 12 68 56 47 85 182

5,419

5,144

5,153

5,462

5,462

5,419

5,419

5,386

5,386

5,325

5,325

5,260

5,260

5,224

5,224

5,187

5,187

5,144

25 385 16 3 7 7 1 3 4

2 8 1 1

336 3

10 3

23 31 10 2 6 7 1 3 4

75 69 12 3 12 22 7 15 16

8 44 7 2 2 1 2 1

66

1

25 5 3 10 19

1

6 13 15

287 97 58 35 59 75 31 41 46

9 1 3 1 2 1 4 1

22 1 7 4 4 6

NUMBER OF BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 104. A n a ly s is o f Adm issions to and T erm inations o f In su ran ce in E ach C la ss o f B an k, 1934-1940— Continued

1934-1940 1935

Total

Under 

temporary plan

Under 

permanent plan

1934

Jan. 1- 

Aug. 22

Aug. 23- 

Dec. 31

1936 1937 1938 1939 1940

N ATIO N AL BANKS M EM BERS OF THE FE D E RA L RESERVE 

S YSTE M — C ontinued

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 FD IC — net reduction.............................

11

338

58

10

113

28

1 5 5 1

225

30

75

16

38

12

33

2

50

7

57

8

23

3

26

7

36

3

Terminations directly offset by admissions— total........................ 149 61 88 48 13 4 21 19 13 14 17

J3cinks succGcd^d by other bsnks in ssnno clciss • • 59 51 8 44 7 2 2 1 2 1

Banks succeeded by other insured banks not in same class..............

Suspended banks, or banks withdrawing from insurance, readmitted

88

2

10 78

2

4 6 3

1

19 16

1

12 12 16

STATE BANKS M EM BERS OF TH E FE D E R A L RESERVE 

SYSTEM

Number insured at beginning of period......................................... . .

Number insured at end of period...........................................................

856

1,342

856

990

990

1,342

856

980

980

990

990

1,001

1,001

1,051

1,051

1,081

1,081

1,114

1,114

1,175

1,175

1,342

Admissions not directly offset by terminations— total................ 62 41 21 40 1 2 3 5 3 2 6

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, bsnks^ 19 9 10 9 1 3 1 5

2 2 1 1

Financial institutions operating January 1, 1934, but not engaged

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.........................................................

Successors to or reorganizations of banks in receivership or in

25

7

25

5

24

5

1

2 1 1

Banks organized and opened since deposit insurance became 

effective:

Banks opened and admitted to insurance in the same calendar

5 2 3 2 1 1 1

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Admissions directly offset by terminations— total........................

Banks succeeding other banks in same class.........................................

Banks succeeding other insured banks not in same class...................

Admissions of insured banks to F. R. System8....................................

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 FD IC — net reduction............

Other terminations:

Withdrawals from insurance of operating banks (excluding those

readmitted during same year)...........................................................

Banks absorbed by or consolidated with other insured banks

without financial aid of FD 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 ERCIAL BANKS NOT M EM BERS OF THE 

FE D E R A 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 liquidation8.........................................................................

Banks organized and opened since deposit insurance became effective: 

Banks opened and admitted to insurance in the same calendar

year11........................................................................................................

Ba.nks opened since January 1, 1934, prior to year of admission to

insurance; or successors to such banks...........................................

Financial institution opened since January 1, 1934, but not 

engaged in deposit banking prior to year of admission to insurance ....................................................................................................

594 133 461 109 24 13 70 58 47 87 186

7 3 4 1 2 1 1 2

8 1 7 1 1 1 2 1 2

579 129 450 107 22 12 68 56 47 85 182

86 19 67 11 8 4 11 20 7 13 12

6 6 2 1 3

5 5 1 1 3

2 1 1 1 1

61 13 48 6 7 4 9 14 6 7 8

12 5 7 4 1 1 3 2 1

84 21 63 14 7 12 13 10 15 13

7 3 4 1 2 1 1 2

46 12 34 10 2 5 7 5 9 8

31 6 25 3 3 6 6 5 5 3

106,978 6,978 7,754 106,978 7,707 7,754 7,739 7,597 7,456 7,323 7,176

6,956 7,754 6,956 7,707 7,754 7,739 7,597 7,456 7,323 7,176 6,956

1,459 1,158 301 982 176 37 73 70 44 39 38

459 367 92 317 50 13 31 22 11 10 5

14 2 12 1 1 3 3 1 2 1 2

9 9 2 2 1 3 1

640 623 17 560 63 5 6 2 4

66 58 8 45 13 4 3 1

235 98 137 59 39 12 25 37 20 20 23

35 10 25 10 3 5 6 5 6

1 1 1

NUMBER OF BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 104. A n a ly sis OF Adm issions to and Term inations o f In su ra n ce in E ach C la ss o f B an k, 1934-1940— Continued

o

00

1934-1940 1935

Total

Under 

temporary plan

Under 

permanent plan

1934

Jan. 1- 

Aug. 22

Aug. 23- 

Dec. 31

1936 1937 1938 1939 1940

CO M M ER C IA L BANKS NOT M EM BERS OF THE 

FED ERAL RESERVE SYSTEM — Continued

189 34 155 15 19 7 38 37 24 29 20

Banks succeeding other banks in same class7........................................

Banks succeeding other insured banks not in same class7. . . . . . . . .

71

82

17

10

54

72

8

4

9

6

3

2

12

19

16

14

7

12

13

11

3

14

Readmissions of banks which had suspended and reopened or had 

withdrawn from insurance 5 1 4 1 2 1 1

Admissions to insurance of banks withdrawing from F. R . System. 31 6 25 3 3 6 6 5 5 3

Terminations not directly offset by admissions— tota l................ 964 249 715 137 112 41 166 163 146 113 86

Banks suspended or merged with financial aid from FD IC :

Suspended banks not reopened or succeeded.................................... 203 20 183 8 12 9 39 46 46 25 18

Banks merged with financial aid of F D IC — net reduction............ 77 77 21 12 18 15 11

Other terminations:

"Withdrawals from insurance of operating banks (excluding those

readmitted during same year)...........................................................

Banks absorbed by, succeeded by, or consolidated with noninsured banks .........................

49

9

46

4

3 21 25 3

5 1 3 3 2

Banks absorbed by or consolidated with other insured banks 

without financial aid of FD IC — net reduction............................. 446 136 310 91 45 23 80 79 43 57 28

Other liquidations................................................................ .................... 178 43 135 16 27 9 23 25 33 16 29

Insured status terminated by FDIC® 2 2 1 1

Terminations directly offset by admissions— total........................ 706 167 539 131 36 18 87 85 55 102 192

Banks succeeded by other banks in same class..................................... 71 17 54 8 9 3 12 16 7 13 3

Banks succeeded by other insured banks not in same class.............. 52 19 33 16 3 3 6 12 1 4 7

Suspended banks, or banks withdrawing from insurance, readmitted 

Insured banks admitted to F. R . System8.............................................

4 2 2 2 1 1

579 129 450 107 22 12 68 56 47 85 182

M UTUAL SAVINGS BANKS

Number insured at beginning of period.............................................. 214 214 56 214 68 56 56 56 56 48 51

Number insured at end of period........................................................... 53 56 53 68 56 56 56 56 48 51 53

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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

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 year

Terminations not directly offset by admissions— total................

Banks suspended or merged with financial aid from FDIC:

Suspended bank 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 year)...........................................................

Banks consolidated with other insured banks without financial

aid of F D IC — net reduction.............................................................

Other liquidation......................................................................................

Insured status terminated by F D IC ...................................................

24

21

6 23

21

1 4 2

6 4 2

2

1

182

1

}

169

1

9

1

1

13 8

1

1

1

177

5

169 8

5 5

1

1

5

1

1

1 The 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.

2 Excludes banks operating under restrictions but unlicensed under the provisions of the Executive Order of the President issued March 10, 1933.

3 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.

4 These cases include the following types of institutions: (a) trust companies not engaged in deposit banking but with uninvested trust funds eligible for insurance; (b) 

industrial and Morns 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 in deposit banking, or whos*3 obligations were recognized by the Corporation as eligible for the protection of deposit insurance; and (c) banks of deposit organized a3 

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 Includes 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 in process of liquidation at the time of reorganization and admission to insurance.

7 Includes 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.

8 No 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 is shown in this table in order to indicate the admissions and terminations of insured banks by class.

9 1 of these banks subsequently suspended operations.

10 Includes 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. O

11 Includes banks opened subsequent to the suspension of other insured banks in the same communities, but not direct successors to such banks. ^NUMBER OF BANKING OFFICES— END-OF-YEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
NUMBER OF BANKING OFFICES—MIDYEAR 

Table 105. N u m b e r OF OPERATING BANKING OFFICES, JUNE 29, 1940

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS

All banking offices Commercial banking offices Mutual savings banking offices

| Insured

Total Insured Noninsured Total

Total

Members F. R. 

System

Not 

members 

F. R. 

System

Noninsured Total Insured Noninsured

National State

All banking offices............................................. 18,713

887

17,026 1,687 18,028 16,950 6,695 2,232 8,023 1,078 685 76 609

W ith deposits of—

$100 000 or loss • 591 296 8«6 591 29 10 552 295 1 1

$100’ooo to $250,000....................................... 2,938

3,528

3,602

2,891

2,305

2,645

3,386

3,490

2,811

2,161

293 2,935 2,644 372 100 2,172 291 3 1 2

$250 000 to $500,000....................................... 142 3,522 3,383

3,484

2,802

2,140

1,031 256 2,096 139 6 3 3

$500,000 to $1,000,000....................................

$1,000,000 to $2,000,000................................

$2,000,000 to $5,000,000................................

112

80

144

3,578

2,836

2,168

1,586

1,542

1,214

420

441

493

1,478

819

433

94

34

28

24

55

137

6

9

21

18

46

116

$5,000,000 to $10,000,000..............................

$10,000,000 to $50,000,000............................

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

816

617

139

707

484

122

£90

109

133

17

702

478

115

808

693

471

113

629

421

298

72

130

179

125

38

170

93

48

3

329

9

7

2

179

114

139

24

182

14

13

9

100

126

15

None or not available1..................................... 990 V>^«7 oul 182

Unit banks........................................................ 13,962

708

2,585

3,089

•e

12,603

412

2,292

2,947

1,359

296

293

142

13,492 12,560 4,964 1,066 6,530 932 470 43 427

With deposits of—

$100,000 or less.............................................

$100,000 to $250,000...................................

$250,000 to $500,000...................................

707

2,582

3,084

412

2,291

2,945

20

349

885

6 386

1,865

1,861

295 1 1

77

199

291

139

3

5

1

2

2

3

$500,000 to $1,000,000................................

$1,000,000 to $2,000,000............................

$2,000,000 to $5,000,000............................

2,933

2,095

1,532

2,821

2,015

1,388

112

80

144

2,910

2,044

1,403

2,816

2,010

1,375

1,254

1,122

847

269

205

183

1,293

683

345

94

34

28

23

51

129

5

5

13

18

46

116

$5,000,000 to $10,000,000..........................

$10,000,000 to $50,000,000........................

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

527

393

59

A 1

418

260

42Q

109

133

17

33

418

263

40

41

409

256

38

g

274

182

29

2

70

46

8

3

65

28

1

3

9

7

2

33

109

130

19

9

4

4

100

126

15

41 O

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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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............................

4,751 4,423 328 4,536 4,390 1,731 1,166 1,493 146 215 33 182

179 179 179 179 9 4 166

353 353 353 353 23 23 307

439 439 438 438 146 57 235 1 1

669 669 668 668 332 151 185 1 1

796 796 792 792 420 236 136 4 4

773 773 765 765 367 310 88 8 8

289 289 284 284 147 109 28 5 5

224 224 215 215 116 79 20 9 9

80 80 75 75 43 30 2 5 5

949 621 328 767 621 128 167 326 146 182 182

1,045

c

931 114 964 923 200 168 555 41 81 8 73

8 8 8 8 1 1 6

51 51 51 51 51

103 103 103 103 1 102

110 110 110 110 2 1 107

88 88 88 88 10 6 72

95 95 95 95 32 19 44

94 94 92 92 44 31 17 2 2

98 98 94 94 44 35 15 4 4

61 61 59 59 31 26 2 2 2

337 223 114 264 223 35 49 139 41 73 73

3,706 3,492 214 3,572 3,467 1,531 998 938 105 134 25 109

171 171 171 171 8 3 160

302 302 302 302 23 23 256

336 336 335 335 145 57 133 1 1

559 559 558 558 330 150 78 1 1

708 708 704 704 410 230 64 4 4

678 678 670 670 335 291 44 8 8

195 195 192 192 103 78 11 3 3

126 126 121 121 72 44 5 5 5

19 19 16 16 12 4 3 3

612 398 214 503 398 93 118 187 105 109 109

^Deposits of head offices and of branches of noninsured banks operating branches, and of 222 insured banks operating branches, are not available separately. 

N o t e : For deposits of these banks, see Table 113.

Back figures— See the following Annual Reports: 1939, p. 98; 1938, p. 136; 1937, p. 80; 1936, p. 112.

NUMBER OF BANKING OFFICES— MIDYEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 106. N u m b e r o f O p e r a t in g B a n k s , Ju n e 29, 1940

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF BANK AND AMOUNT OF DEPOSITS

All banks

Total I nsured Noninsured

Commercial banks

Total

Insured

Total

Members F. R. 

System

National

Not 

members 

F. R. 

System

Noninsured

Mutual savings banks

Total Insured Noninsured

Insured banks 

s percentage of—

All

banks

Commercial

banks

Mutual

savings

banks

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..........

None or not available.............

Unit 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.... 

None or not available.........

15,007

708

2,616

3,213

3,094

2,237

1,661

653

602

180

43

13,962

708

2,585

3,089

2,933

2,095

1,532

527

393

59

41

13,534

412

2,320

3,066

2,976

2,150

1,502

530

430

139

9

12,603

412

2,292

2,947

2,821

2,015

1,388

418

260

42

1,473

296

296

147

118

87

159

123

172

41

34

1,359

296

293

142

112

80

144

109

133

17

33

14,456

707

2,613

3,208

3,071

2,186

1,521

535

434

138

43

13,492

707

2,582

3,084

2,910

2,044

1,403

418

263

40

41

13,483

412

2,319

3,064

2,971

2,145

1,489

521

421

132

12,560

412

2,291

2,945

2,816

2,010

1,375

409

256

38

5,164

20

349

885

1,256

1,130

870

327

250

752

4,964

20

349

885

1,254

1,122

847

274

182

292

1,234

6

77

200

270

211

198

106

111

51

4

1,066

6

77

199

269

205

183

70

468

7,085

386

1,893

1,979

1,445

804

421

6,530

386

1,865

1,861

1,293

683

345

65

281

3

973

295

294

144

100

41

32

14

136

34

932

295

291

139

94

34

28

551

1

3

5

23

51

140

118

168

42

470

1

3

5

23

51

129

109

130 

19

51

43

500

1

2

3

18

46

127

109

159

35

427

1

2

3

18

46

116

100

126

15

90.2

58.2 

88.7

95.4

96.2

96.1

90.4

81.2

71.4 

77.2 

20.9

90.3

58.2 

88.7

95.4

96.2

96.2 

90.6

79.3 

66.2

71.2

19.5

93.3

58.3

88.7 

95.5

96.7 

98.1

97.9

97.4 

97.0

95.7

20.9

58.3

88.7

95.5

96.8

98.3

98.0

97.8

97.3

95.0

19.5

9.3

33.3

40.0

21.7 

9.8

9.3

7.6

5.4

16.7

9.1

40.0

21.7

9.8

10.1

8.3

3.1

21.1

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
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 available..........

1,045 931 114 964 923 200 168 555 41 81 8 73

31 28 3 31 28 28 3

124 119 5 124 119 1 118 5

161 155 6 161 155 2 1 152 6

142 135 7 142 135 8 6 121 7

129 114 15 118 114 23 15 76 4 11 11

126 112 14 117 112 53 36 23 5 9 9

209 170 39 171 165 68 65 32 6 38 5 33

121 97 24 98 94 46 43 5 4 23 3 20

2 1 1 2 1 1 1

90.3

96.0

96.3

95.1

88.4

88.9

81.3

80.2 

50.0

95.7

90.3

96.0

96.3

95.1

96.6

95.7 

96.5 

95.9 

50.0

9.9

13.2

13.0

N o t e : For deposits of these banks, see Table 114.

Back figures— See the following Annual Reports: 1939, p. 100; 1938, p. 138; 1937, p. 82; 1936, p. 112.

CONUMBER OF BANKING OFFICES— MIDYEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 107. NUMBER OF OPERATING BANKS, JUNE 29, 1940

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS

All banks Commercial banks Mutual savings banks

Total Insured Noninsured T otal j

Total i

In si

Membo:

Sys

, National

ired

rs F. R.

tem

State

Not 

members 

F. 11. 

System

Noninsured Total j Insured Noninsured

U nited States and possessions— t o t a l. . . . 15,007 13,534 1,473 14,456 13,483 1 5,164 1,234 7,085 973 551 51 500

U nited S tates................................................... 14,970 13,530 1,440 14,419 13,479 5,164 1,234 7,081 940 551 51 500

Possessions 37 4 33 37 4 4 33

State

AlcibiiniJi 218 210 8 218 210 66 17 127 8

Arizona 12 12 12 12 5 2 5

Arkansas 216 210 6 216 210 50 7 153 6

California 206 199 7 206 199 99 16 84 7

Colorado 146 138 8 146 138 78 13 47 8

Connecticut ....................................... 189 100 89 117 100 52 5 43 17 72 72

Delaware • .............................. 46 42 4 44 42 15 4 23 2 2 2

District of Columbia 22 22 22 22 9 5 8

Florida .......................... 167 164 3 167 164 52 4 108 3

fxPnrori' n . . ... 347 267 80 347 267 52 18 197 80

50 49 1 50 49 18 9 22 1

Illinois • • • • .................... 842 826 16 842 826 329 76 421 16

503 478 25 499 475 125 34 316 24 4 3 1

660 588 72 660 588 106 38 444 72

Kansas * 669 452 217 669 452 182 23 247 217

XT on f n r»lr\7 403 372 31 403 372 95 17 260 31

Louisiana • • 145 144 1 145 144 29 7 108 1

100 65 35 68 59 37 5 17 9 32 6 26

187 176 11 175 174 63 10 101 1 12 2 10

Massachusetts............................................... 391 192 199 199 192 125 29 38 7 192 192

114 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Michigan............

Minnesota..........

Mississippi.........

M issouri..............

M ontana.............

Nebraska............

N evada...............

New Hampshire,

New Jersey........

New Mexico. .. .

New Y ork...........

North Carolina. 

North D akota. .

Ohio.....................

Oklahoma...........

Oregon.................

Pennsylvania. . . 

Rhode Island . . . 

South Carolina.. 

South Dakota...

T ennessee...........

T exas...................

U tah....................

Verm ont.............

Virginia...............

Washington . . . . 

West Virginia.. .

Wisconsin...........

W yom ing............

427 29 456

645 30 674

196 10 206

581 39 620

112 112

363 58 421

11 11

56 51 64

365 16 357

40 1 41

727 146 739

220 7 227

150 13 163

680 19 696

379 12 391

71 2 72

1,059 26 1,078

16 16 23

112 39 151

164 1 165

288 9 297

782 79 861

59 59

81 73

312 1 313

136 4 137

174 7 181

560 12 568

58 58

456

675

206

620 112

42111

107

381

41

873

227

163

699

391

73

1,085

32

151

165

297

861

59

81

313

140

181

572

58

N o t e : For deposits of these banks, see Table 115. 

Back figures— See the Annual Report for 1939, p. 102.

427 82 135 210 29

644 188 20 436 30 1 1

196 24 2 170 10

581 85 60 436 39

112 43 25 44

363 135 13 215 58

11 6 1 4

56 52 1 3 8 43 43

352 225 52 75 5 24 13 11

40 22 5 13 1

723 429 125 169 16 134 4 130

220 43 10 167 7

150 47 > 103 13

677 244 112 321 19 3 3

379 209 9 161 12

70 27 7 36 2 1 1

1,055 690 83 282 23 7 4 3

16 12 2 2 7 9 9

112 21 5 86 39

164 41 22 101 1

288 71 6 211 9

782 446 68 268 79

59 13 20 26

73 41 32 8 8

312 130 35 147 1

133 44 16 73 4 3 3

174 78 21 75 7

557 103 31 423 11 4 3 1

58 26 9 23

OTNUMBER OF BANKING OFFICES— MIDYEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 108. N u m b e r OF OPERATING BANKING OFFICES OF COMMERCIAL BANKS, JUNE 29, 1940 

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY TYPE OF OFFICE AND POPULATION OF CENTER IN WHICH LOCATED

B a n k i n g o ffic e s w i t h d e p o s it s o f —

A l l

b a n k i n g

o ffic e s

$ 1 0 0 ,0 0 0

o r

le s s

$ 1 0 0 ,0 0 0

t o

$ 2 5 0 ,0 0 0

$ 2 5 0 ,0 0 0

to

$ 5 0 0 ,0 0 0

$ 5 0 0 , 0 0 0

t o

$ 1 , 0 0 0 , 0 0 0

$ 1 , 0 0 0 , 0 0 0

t o

$ 2 , 0 0 0 , 0 0 0

$ 2 , 0 0 0 , 0 0 0

t o

$ 5 , 0 0 0 , 0 0 0

$ 5 , 0 0 0 , 0 0 0

t o

$ 1 0 , 0 0 0 ,0 0 0

$ 1 0 , 0 0 0 ,0 0 0

t o

$ 5 0 ,0 0 0 ,0 0 0

M o r e

t h a n

$ 5 0 ,0 0 0 ,0 0 0

N o n e o r

n o t

a v a i l a b l e 1

18,028

9 6 0

886 2,935 3,522 3,578 2,836 2,168 702 478 115 808

In cen ters w ith p o p u la tion o f—

2 6 5 4 5 6 1 5 9 2 8 5 4 7

2 , 1 2 0 3 3 5 9 9 9 5 4 0

1 ,1 0 8

1 ,1 9 5

2 9 3

1 2 9

4 9 1

1 ,2 5 4

8 0 5

1 2

7 2

3 8 2

2

1

5 0

1 0 3

9 0

9 4 -f AAA O K A A

2 , 8 7 2

3 , 4 6 7

2 , 0 3 0

1 9 2

5 1

9 1 8

4 3 9

5 7

2

r\ r a a i _ rr AAA 9 6 4 9 1 5 2 5 6 0

c a a a 1 a n o n ............. 1 * 5 3 4 5 1 9 8 4 3 6 6 6 4 8 3 5 7 2 5 2 2 8

i a a a a o c n o n . . . . 1 , 3 1 7 6 1 4 3 0 1 3 6 3 5 0 5 9 8 1 2 1 2 1 4 1

O K AAA 4-/-v KA AAA . . 6 2 1 3 3 2 3 3 6 9 9 2 3 1 1 5 3 4 3 3 0

3 , 1 0 7 2 0 3 0 9 0 3 3 3 6 1 9 7 7 7 3 9 8 4 1 0 1 1 5 3 1 5

13,492

8 0 4

707 2,582 3,084 2,910 2,044 1 ,4 0 3 418 263 40 41

In cen ters w ith p op u la tion o f—

T j_t____OKA 2 2 2 4 0 9 1 3 8 2 7 4

4

1 , 7 7 3 2 6 2 8 8 3 4 9 5 1 1 3 1 1 2

7

2 , 4 6 3 1 4 7 8 0 9 9 9 7 4 4 1 6 2 1

6

2 , 9 7 5

1 , 6 8 1

4 3

8

3 8 6 1 ,0 7 5

2 5 6

1 ,1 0 3

6 9 2

3 2 2 3 6 2 8

2 , 5 0 0 t o 5 , 0 0 0 ..................................................................... 4 4 5 4 5

5 6 7

3 0 5

7 2

1 5 6

1 3 0

2 9 5

5 0 9

1 9 1

2 3 9

4

2 1

9 6

1 1 5

1 8 2

o

2

1 0 , 0 0 0 t o 2 5 , 0 0 0 ..............................................................

1 ,2 9 5

1 ,0 7 2

5

6

1 7

1 1

7 0

1 8

3 1 8

1 1 3

£

1 4

3 1

2 1 4 2 5 ,0 0 0 t o 5 0 , 0 0 0 .............................................................. 4 4 8

9 8 1

2

1 2

2

2 1

9

2 6

2 6

7 7 4 0 1 4

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
All offices of banks operating branches

In centers with population of—

Less than 250...........................................

250 to 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.........................................

Head offices of banks operating

branches.............................................

In centers with population ofLess 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....................................

Branches.................................................

In centers with population ofLess 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....................................

4,536 179 353 438

1 5 6 4 3 4 7 2 1

3 4 7 7 3 1 1 6 4 5

4 0 9 4 5 1 0 9 1 1 1

4 9 2 8 5 3 1 2 0

3 4 9 1 1 3 3 7

2 3 9 2 1 4

2 4 5 3 1 2

1 7 3 1 1 1 4

2 ,1 2 6 8 9 6 4

964 8 51 103

3 0 4 7 9

6 4 1 1 8 1 4

9 7 1 1 7 3 8

1 3 5 1 7 3 4

1 0 2 2 6

5 6 1

7 5 1

6 1

3 4 4 1

3,572 171 302 335

1 2 6 3 9 4 0 1 2

2 8 3 7 2 9 8 3 1

3 1 2 4 4 9 2 7 3

3 5 7 7 4 6 8 6

2 4 7 1 1 1 3 1

1 8 3 2 1 3

1 7 0 3 1 1

1 1 2 1 1 1 4

1 ,7 8 2 7 9 6 4

668

1

1 6

5 0

1 5 1

1 1 3

4 8

2 310

2 5 6

110

1 4

4

1

4

558

1

10

3 6

110

8 2

3 9

1 9

9

2 5 2

792

1

1

10

6 0

1 0 4 81

4 5

2 7

4 6 3

88

1 6

2 4

2 3

112

704

1

4 4

8 0

5 8

3 4

2 5

4 5 5

765

1 4 22

6 2

8 9

4 0

5 3 8

95

2

6

1 3

2 6

1 4

3 4

12

1 6

4 9

6 3

2 6

5 0 4

284

1

4

2 5

3 8

2 1 6

92

1 6 22

5 3

192

9

1 6

1 6 3

215

7

12

1 9 6

94

2

8

8 4

121

4

112

7 5

7 5

59

5 9

16

767

4 3

9 6

8 4

86

5 8

4 1

3 0

3 0 1

264

10

2 4

2 4

3 4

3 2 10

1 5

1 4 101

503

3 3

7 2

6 0

5 2

2 6

1 8

2 6

1 6 200

1 Deposits of head offices and of branches of noninsured banks operating branches, and of 222 insured banks operating branches, are not available separately.

NUMBER OF BANKING OFFICES— MIDYEAR 117

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 109. N u m b e r OF OPERATING BANKING OFFICES OF COMMERCIAL BANKS, JUNE 29, 1940

GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED AND BY 

TYPE OF OFFICE AND POPULATION OF CENTER IN WHICH LOCATED

Banking offices in centers with—

banking

offices

1

banking

office

2

banking

offices

3

banking

offices

4

banking

offices

5

banking

offices

6

banking

offices

7 or 8 

banking 

offices

9 to 19 

banking 

offices

20 or more 

banking 

offices

AH ban k in g offices .............................................................. 18,028 8,970 4,118 1,239 472 270 222 225 506 2,006

In centers w ith p op u lation o f— T pj -J- !■» q n 9 960 952 8

oca 4-n cnn 2,120

2,872

3,467

2,030

1,534

1,317

621

2,045

2,508

2,261

723

72 3

caa frk i non 358 6

1 nnn +a 9 ^nn 1,126

1,116

800

75 5

9 ^ non 165 16 10

k (\nc\ i n nnn 335 327 52 20

1 A AAA 4-rk 9 ^ non 133 532 429 164 35 24

25 000 to 50 000 .......................... 8 86 165 152 110 54 28 18

3,107 5 20 69 88 90 144 197 488 2,006

13,492 7,451 3,589 1,035 357 188 122 129 254 367

In centers w ith p op u la tion o f— T n fUnvi O K A 804

1,773

797 7

oka 4-/-v 1,709

2,125

1,876

574

62 2

kaa fa 1 nnn 2^463 332 6

1 nnn 9 2,975

1,681

1,295

1,072

448

1,031

935

67 1

9 ^ non 150 12 10

k nnn i n non 262 691 282 43 17

1 A AAA f r\ ok non 99 448 346 136 26 17

9% 00ft to *>0 000 ............................ 5 69 125 112 84 32 15 6

981 4 14 57 54 50 73 114 248 367

118 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
All offices of banks operating branches................. 4,536 1,519 529

In centers with population of—

Less than 250.................................................................... 156 155 1

250 to 500.......................................................................... 347 336 10

500 to 1,000...................................................................... 409 383 26

1,000 to 2,500................................................................... 492 385 95

2,500 to 5,000................................................................... 349 149 181

5,000 to 10,000................................................................. 239 73 109

10,000 to 25,000............................................................... 245 34 84

25,000 to 50,000............................................................... 173 3 17

50,000 or m ore.................................................................. 2,126 1 6

Head offices of banks operating branches........ 964 307 193

In centers with population of—

30 30

250 to 500...................................................................... 64 60

4

500 to 1,000.................................................................. 97 89 8

1,000 to 2,500.............................................................. 135 90 42

2,500 to 5,000.............................................................. 102 25 66

5,000 to 10,000............................................................ 56 9 32

10,000 to 25,000.......................................................... 75

4 33

25,000 to 50,000.......................................................... 61

7

50,000 or more............................................................. 344

1

Branches.......................................................................... 3,572 1,212 336

In centers with population of—

Less than 250................................................................ 126 125

1

250 to 500...................................................................... 283 276 6

500 to 1,000.................................................................. 312 294 18

1,000 to 2,500............................................................... 357 295 53

2,500 to 5,000.............................................................. 247 124 115

5,000 to 10,000............................................................ 183 64 77

10,000 to 25,000.......................................................... 170 30 51

25,000 to 50,000.......................................................... 112

3 10

50,000 or more............................................................. 1,782 1 5

2048

15

45

83

4012

7637

13

26207

12858

32

57205

115

28

40 

34

41429

1610

74

19

24

24

824

' 39

26

40

2133

15

614

' 36

23

25

1007

22

71

35

27

657

14

44

96

13

83

39

34

57

49

252

12

240

10

171

1,639

1,639

181

181

1,458

1,458

CONUMBER OF BANKING OFFICES— MIDYEAR

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 110. N u m b e r OF OPERATING COMMERCIAL BANKS, JUNE 29, 1940 

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS

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

$10,000,000

to

$50,000,000

More

than

$50,000,000

None or 

not 

available

United States and possessions— total. .. 14,456 707 2,613 3,208 3,071 2,186 1,521 535 434 138 43 Insured banks................................................ 13,483 412 2,319 3,064 2,971 2,145 1,489 521 421 132 9 Noninsured banks........................................... 973 295 294 144 100 41 32 14 13 6 34

United States............................................ 14,419 705 2,611 3,202 3,066 2,179 1,515 530 432 136 43 Insured banks.............................................. 13,479 412 2,319 3,064 2,971 2,142 1,488 521 421 132 9

Noninsured banks....................................... 940 293 292 138 95 37 27 9 11 4 34

Possessions..................................................... 37 2 2 6 5 7 6 5 2 2

Insured banks.............................................. 4 3 1

Noninsured banks...................................... 33 2 2 6 5 4 5 5 2 2

State

Alabam a...................................................... 218 15 59 62 39 19 16 3 4 1

Insured banks......................................... 210 13 55 62 37 19 16 3 4 1

Noninsured banks.................................. 8 2 4 2

Arizona....................................... 12 1 2 1 5 3

Insured banks......................................... 12 1 2 1 5 3

Noninsured banks..................................

Arkansas............................ 216 27 67 50 39 19 6 3 5

Insured banks......................................... 210 25 64 49 39 19 6 3 5

Noninsured banks.................................. 6 2 3 1

California......................................... 206 1 9 30 52 38 37 13 13 12 1

Insured banks......................................... 199 1 7 30 52 37 36 11 12 12 1

Noninsured banks.................................. 7 2 1 1 2 1

Colorado...................................................... 146 9 28 33 30 25 11 3 6 1

Insured banks......................................... 138 6 26 31 29 25 11 3 6 1

Noninsured banks.................................. 8 3 2 2 1

Connecticut............................................... 117 6 10 14 26 35 10 14 2

Insured banks......................................... 100 4 6 13 22 32 9 13 1

Noninsured banks.................................. 17 2 4 1 4 3 1 1 1

Delaware..................................................... 44 1 4 10 12 6 5 1 4 1

Insured banks......................................... 42 1 2 10 12 6 5 1 4 1

Noninsured banks.................................. 2 2

District of Columbia.............................. 22 1 1 4 6 8 2

Insured banks......................................... 22 1 1 4 6 8 2

Noninsured banks..................................

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Florida.....................

Insured banks 

Noninsured banks

Georgia....................

Insured banks 

Noninsured banks

Idaho........................

Insured banks 

Noninsured banks

Illinois.....................

Insured banks 

Noninsured banks

Indiana....................

Insured banks 

Noninsured banks

Iow a..........................

Insured banks. . . , 

Noninsured banks

Kansas.....................

Insured banks 

Noninsured banks

K entucky................

Insured banks 

Noninsured banks

Louisiana................

Insured banks 

Noninsured banks

M aine.......................

Insured banks. . . 

Noninsured banks

M aryland................

Insured banks 

Noninsured banks

Massachusetts........

Insured banks. . . , 

Noninsured banks

M ichigan.................

Insured banks 

Noninsured banks

M innesota..............

Insured banks 

Noninsured banks

Mississippi..............

Insured banks. . . . 

Noninsured banks

167 3 2 2 36

1 6 4

3 2 1 3 6

3

1

347 77 94 69

2 6 7 2 7 7 8 6 8

8 0 5 0 1 6

1

50

2 11 11

4 9

2 1 1 1 1

1

842 18 119 199

8 2 6 1 4 1 1 6 1 9 7

1 6 4 3

2

499

7 87 142

4 7 5

4 7 7 1 3 6

2 4

3 1 0

6

660

8 95 2 2 0

5 8 8

2 7 6 1 9 8

7 2

6 1 9 2 2

669 95 244 152

4 5 2 2 3 1 5 4 1 2 0

2 1 7 7 2 9 0 3 2

403 28 109 93

3 7 2 1 4 1 0 0 8 9

3 1 1 4

9

4

145

5 12 30

1 4 4

5 1 2 2 9

1 1

68

1

5

5 9

3

9

1

2

175 2 2 36

1 7 4 2 2 3 6 1

199

1

3 10

1 9 2

1

2

9

7

1

1

456

5 48 130

4 2 7

3 3 8 1 2 1

2 9

2 1 0

9

674 12 173 213

6 4 4 5 1 5 9 2 0 9

3 0

7 1 4

4

206 17 35 56

1 9 6 1 5 3 3 5 2

1 0

2

2

4

37

3 61

33

3 21

20

2 0

77

88

11

46 26 15 4 3

2 11

4 4 2 6 1 5 4 3 2

2 1 1

14 3

6

1

2

1 4 3 5

1

2

1

212 114 92 45 34 6 3

2 0 9 1 1 4 8 9 4 5 3 4

6

2

3 3

1

103 84 46 13 16 1

1 0 1 8 2 4 5 1 3 1 6 1

2 2

1

185 98 31 14 5 4

1 7 2 9 2 2 9 1 4 5

1 3 6 2 4

97 47 25 3 5

1

7 9 4 3 2 43

5

1

1 8

4

1

85 52 23 6 6

1

8 2 5 1 2 3 6 61

3

1

39 32 13 56

3

3 9 3 2 1 3 5 6 3

11 17 23 7 4

9 1 6 2 1 6 4 2 1 2 1

46 35 17 10

7

2

4 6 3 5 1 7 1 0 6 2 1

29 43 59 27 21 5

1

2 8 4 3 5 7 2 7 1 9 5 1 1 2 2

109 70 55 16 16 4 3

1 0 7 6 8 5 5 1 6 1 5 4

2 2

1

3

170 66 24 94

3

1 6 8 6 4 2 3 9 4 3

2 2

1

49 27 15 6

1

4 7 2 7 1 5

6

1

2

NUMBER OF BANKING OFFICES— MIDYEAR

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 110. N u m b e r OF O p e r a t in g C o m m e r c ia l B a n k s , Ju n e 29, 1940— Continued

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS

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

$10,000,000

to

$50,000,000

More

than

$50,000,000

None or 

not 

available

620 69 196 128 98 57 37 18 10 6 1

581 52 178 125 97 57 37 18 10 6 1

39 17 18 3 1

112 2 20 33 32 8 12 1 4

112 2 20 33 32 8 12 1 4

421 58 167 105 51 23 9 1 7

363 31 141 102 50 22 9 1 7

58 27 26 3 1 1

N6Vftdfl 11 2 4 3 1 1

Insured banks 11 2 4 3 1 1

XT TJq fv» Irp 64 1 6 12 20 12 9 4

Tncmror? 56 4 11 17 12 8 4

8 1 2 1 3 1

New Jersey .............................. 357 1 1 15 60 108 97 38 32 5

Insured banks . . . . 352 1 13 58 108 97 38 32 5

\TAninanrDrl ViJlTllfCi 5 1 2 2

'Wati/ pvi PA 41 4 10 11 11 2 2 1

Tncnrorl KiJTilrQ 40 4 9 11 11 2 2 1

1 1

New Y ork .................................... 739 2 21 93 164 172 148 66 41 32

Insured banks ........... 723 19 92 162 171 145 65 40 29

Noninsured banks * . . . . 16 2 2 1 2 1 3 1 1 3

N orth CflroHnft .. . 227 9 45 53 42 39 26 6 5 2

Insured banks * . . . 220 7 43 52 41 39 26 5 5 2

XTnr»TnciiT,oH ViPTi kQ 7 2 2 1 1 1

N orth D akota .................................. 163 24 66 42 13 10 6 1 1

TuanrpH KonlfQ 150 17 62 41 13 10 6 1

hank's . . . 13 7 4 1 1

O h io .................................... 696 5 67 158 175 140 93 29 20 9

Insured banks ............................ 677 2 59 151 174 140 93 29 20 9

XTnm'nc nrpH Ko n Ire . . 19 3 8 7 1

O klahom a ........................ 391 28 119 119 59 36 20 5 2 3

Insured banks . . . . 379 24 113 117 59 36 20 5 2 3

N oninsured banks.................................. 12 4 6 2

tOK) FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Oregon........................

Insured b a n k s . . . . 

Noninsured banks.

Pennsylvania...........

Insured banks. . . . 

Noninsured banks.

Rhode Island...........

Insured banks. . . . 

Noninsured banks.

South Carolina. . . .

Insured banks. . . . 

Noninsured banks.

South D akota.........

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.

W isconsin.................

Insured banks. . . . 

Noninsured banks.

W yom ing...................

Insured banks. . . . 

Noninsured banks.

72

70

2

L,078

1,055

23

23

16

7

151

112

39

165

1641

297

288

9

861

782

79

59

59

73

73

313

3121

137

133

4

181

174

7

568

557

11

58

58

1 18

18

17

17

16

16

12

12

4

3

1

2

2

2

2

1

5 46 139 247 269 242 69 40 15 6

1 44 138 241 264 242 68 39 15 3

4 2 1 6 5 1 1 3

1 3 3 6 4 4 2

1 3 4 4 2 2

3 2 2

40 35 26 25 14 6 3 2

16 27 25 20 13 6 3 2

24 8 1 5 1

10 73 48 18 8 4 2 2

10 73 48 17 8 4 2 2

1

27 89 68 56 31 12 3 8 3

24 85 68 55 30 12 3 8 3

3 4 1 1

70 206 194 185 92 49 22 27 4 12

45 192 180 174 91 48 21 27 4

25 14 14 11 1 1 1 12

6 17 18 8 3 1 6

6 17 18 8 3 1 6

3 10 19 19 20 2

3 10 19 19 20 2

3 39 67 87 63 36 9 7 2

3 38 67 87 63 36 9 7 2

1

6 27 40 29 13 8 7 5 2

5 26 40 29 13 7 6 5 2

1 1 1 1

4 14 40 52 36 22 8 5

1 13 40 50 36 21 8 5

3 1 2 1

6 88 155 140 102 56 12 7 2

5 86 150 137 102 56 12 7 2

1 2 5 3

2 7 13 21 8 4 3

2 7 13 21 8 4 3

N ote: For deposits of these banks, see Table 116.

Back figures— See the following Annual Reports: 1939, p. 104; 1938, p. 140; 1937, p. 84 1936, p. 114 1935, p. 132.

NUMBER OF BANKING OFFICES— MIDYEAR 123

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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 111. NUMBER OF COMMERCIAL BANKS OPERATING BRANCHES AND NUMBER OF BRANCHES, JUNE 29, 1940

Character of branch system Location of branch

Ail

branch

systems

City

wide

County

wide

State

wide

In more 

than one 

State1

All 

branches |

In head 

office 

city

Elsewhere 

in head 

office 

county

Elsewhere 

in head 

office 

State

Outside

head

office

State1

964 276 441 244 3 3,572

3,517

55

1,620

1,620

787 1,159 6

953 276 441 233 3 774 1,117

42

6

P ossessions........................................................................... 11 11 13

In cen ters w ith p op u la tion o f—

Less than 250.................................................................... 30 23 7 126 88 38

250 to 500 . . . . ........... 64 43 21 283 1 184 98

500 to 1,000.................................. ................... 97 58 39 312 1 172 139

1,000 to 2,500................................................................... 135 1 102 32 357 2 118 237

2,500 to 5,000 ................................. ............... 102 2 78 22 247 5 72 170

5,000 to 10,000................................................................. 56 5 36 15 183 5 52 126

10,000 to 25,000............................................................... 75 14 32 29 170 17 41 112

25,000 to 50,000............................................................... 61 25 20 16 112 40 22 50

50,000 or more.................................................................. 344 229 49 63 3 1,782

20

1,549

3

38 189 6

State

Alabama............................................................................. 3 2 1 5 12

Arizona............................................................................... 4 1 3 26 1 7 18

Arkansas............................................................................. 14 10 4 15 10 5

California........................................................................... 33 6 15 11 1 854 238 76 537 3

Colorado.............................................................................

Connecticut....................................................................... 6 2 3 1 15 5 4 6

Delaware............................................................................ 6 2 1 3 13 2 5 6

District of C olu m bia................................................... 11 11 30 30

Florida................................................................................. 2 1 1 3 1 2

Georgia............................................................................... 11 2 2 7 26 11 2 13

Idaho................................................................................... 7 2 5 35 3 32

Illinois.................................................................................

Indiana............................................................................... 41 11 30 66 25 41

Iowa..................................................................................... 116 84 32 155 1 116 38

Kansas.................................................................................

1

124 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.............

Louisiana.............

M aine...................

M aryland. . . . . . .

Massachusetts. . ,

Michigan............

Minnesota............

Mississippi..........

Missouri...............

Montana..............

Nebraska..............

N evada.................

New Hampshire.

New Jersey..........

New M exico........

New Y ork..........

North Carolina. 

North D akota. .

O hio.....................

Oklahoma...........

13

27

20

25

43

48

2

24

2

2

2

51

4

92

44

15

39

5

6 

3 

8

30

19

2

34

63

4

6

20

11

11

21

i6‘

15

2

14

14

5

24

14

26

10

3

29

52

57

79

116

163

6

42

2

11

2

117

6

644

126

22

170

21

21

4

38

87

128

2

1

’ ‘84'

596

9

i23

6

28

28

19

27

26

23’

31

4

30

31 

12

42

9

i 9 ‘

25

22

2

2

1

2

16

86

10

5

Oregon..............

Pennsylvania. . 

Rhode Island. . 

South Carolina. 

South D ak ota..

Tennessee.

Texas........

U tah.........

Verm ont. . 

Virginia. ..

4

44

11

6

18

19

31

3

1

2

11

6

1

15

2

2

2

4

10

65

95

38

22

36

50

11

79

17

3

17 

. „ .

'21

17

18'

3

13

14 1

12

18

51

3

7

18

24

15

Washington. . 

West Virginia. 

W isconsin. . . . 

W yom ing. . . .

5

8

39

1

82

2

5

17

1

1

53

3

3

14

22

12

12

72

821

130

31

9

3

20

62

24 ‘

. 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 

in Pennsylvania; and 1 bank in New York operates 1 branch in Massachusetts and 1 branch in Pennsylvania.

Back figures— See the following Annual Reports: 1939, p. 110; 1938, p. 134; 1937, p. 90; 1936, p. 120.

toOi NUMBER OF BANKING OFFICES— MIDYEAR

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 112. NUMBER OF OPERATING MUTUAL SAVINGS BANKS, JUNE 29, 1940

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE

All

banks

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

U nited States— to ta l............................................................ 551 1 3 5 23 51 140 118 168 42

Insured banks....................................................................... 51 1 2 5 5 13 9 9 7

Noninsured banks................................................................ 500 1 2 3 18 46 127 109 159 35

State

C on n e cticu t......................................................................... 72 3 8 22 18 20 1

N oninsured banks............................................................ 72 3 8 22 18 20 1

Delaware 2 1 1

Noninsured banks 2 1 1

Indiana 4 2

Insured banks 3 2 1

Noninsured banks 1 1

M a in e..................................................... 32 1 4 10 10 2

Insured banks 6 3 2 1

Noninsured banks.......................... 26 1 1 10 8 2

M a ry lan d .............................................................................. 12 1 2 2 1 4 2

Insured banks 2 2

Noninsured banks............................................................ 10 1 2 1 4 2

M assachu setts.................................................................... 192 1 1 7 12 54 51 60 6

N oninsured banks............................................................ 192 1 1 7 12 54 51 60 6

M inn esota 1 1

Insured banks 1 1

New H am pshire 43 6 10 19 4 4

Noninsured banks. . ........... ........................ 43 6 10 19 4 4

126 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
New 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 ork............................................................................. 134 5 21 25 58

1

25

Insured banks................................................................... 4 3

Noninsured banks............................................................ 130 5 21 25 57 22

O hio........................................................ 3 1 1 1

Insured banks................................................................... 3 1 1 1

Noninsured banks...........................................................

Oregon............................................................................... 1 1

Insured banks................................................................... 1 1

Noninsured banks...........................................................

Pennsylvania...................................................................... 7 2 2 3

Insured banks................................................................... 4 2 1 1

Noninsured banks........................................................... 3 1 2

Rhode Island.................................................................. 9 1 1 1 5 1

Insured banks...................................................................

Noninsured banks........................................................... 9 1 1 1 5 1

Verm ont......................................................................... 8 1 2 1 2 2

Insured banks................................................................... 8 1 2 1 2 2

Noninsured banks...........................................................

W ashington........................................................................ 3 2 1

Insured banks................................................................... 3 2 1

Noninsured banks...........................................................

Wisconsin............................................................................. 4 1 1 1 1

Insured banks................................................................... 3 1 1 1

Noninsured banks............................................................ 1 1

N o t e : For deposits of these banks, see Table 117 .

Back figures— See the following Annual Reports: 1939, p. 108; 1938, p. 144; 1937, p. 88; 1936, p. 118; 1935 p. 140.

NUMBER OF BANKING OFFICES— MIDYEAR 127

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Federal Reserve Bank of St. Louis
t o

CX)

DEPOSITS OF BANKING OFFICES 

Table 113. DEPOSITS OF OPERATING BANKING OFFICES, JUNE 29, 1940 

OFFICES GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS

All banking offices Commercial banking offices Mutual savings banking offices

Insured

Total Insured Noninsured Total

Total

Members F. R. 

System

Not 

members 

F. R.

System

Noninsured Total Insured Noninsured

National j State

(In thousands of dollars)

A ll ban k in g offices ................... 70,958,708

59,099

512,454

1,286,825

59,852,896

42,027

465,238

1,237,761

11,105,812 60,325,881 58,425,391 33,013,714 18,715,406 6,696,271 1,900,490 10,632,827 1,427,505 9,205,322

W ith deposits o f—

$100 000 or less 17,072

47,216

59,000

511,955

42,027

465,100

1,880

69,171

583 39,564

376,447

16,973 99 99

$100[000 to $250,000.............. 19,482 46,855 499 138 361

$250,000 to $500,000.............. 49,064 1,284,769 1,236,622 391,105 97,680 747,831 48,147 2,056 1,139 917

$500,000 to $1,000,000...........

$1,000,000 to $2,000,000-----

$2,000,000 to $5,000,000-----

2,592,651

4,093,918

7,063,703

2,515,324

3,980,228

6,595,624

77,327

113,690

468,079

2,574,140

4,012,183

6,614,748

2,510,464 

3,966,874 

6,531,507

1,170,053

2,180,036

3,724,415

308,560

632,061

1,522,180

1,031,851

1,154,777

1,284,912

63,676

45,309

83,241

18,511

81,735

448,955

4,860

13,354

64,117

13,651

68,381

384,838

$5,000,000 to $10,000,000 . . . 

$10,000,000 to $50,000,000. .

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

N ot available1..........................

5,611,137

12,385,505

23,922,962

13,430,454

4,839,047

9,567,344

21,748,557

8,861,746

772,090

2,818,161

2,174,405

4,568,708

4,801,808

9,461,059

21,663,511

9,342,708

4,736,883

9,280,459

20,793,709

8,861,746

2,867,365

5,915,433

12,775,314

3,918,942

1,248,993

2,482,387

7,783,102

4,620,372

620,525

882,639

235,293

322,432

64,925

180,600

869,802

480,962

809,329

2,924,446

2,259,451

4,087,746

102,164

286,885

954,848

707,165

2,637,561

1,304,603

4,087,746

U nit banks ..................... 32,982,621

47,501

452,688

1,123,606

26,445,517

30,429

405,472

1,074,542

6,537,104

17,072

47,216

27,337,527 25,917,999 17,059,165 4,001,699 4,857,135 1,419,528 5,645,094 527,518 5,117,576

W ith deposits o f—

$100 000 or less • • ■ 47,402

452,189

30,429

405,334

1,449

65,100

441 28,539 16,973 99 99

$100 000 to $250 000......... 14,989 325,245 46,855 499 138 361

$250*000 to $500,000.......... 49,064 1,121,895 1,073,748 333,547 75,976 664,225 48,147 1,711 794 917

$500,000 to $1,000,000-----

$1,000,000 to $2,000,000. . 

$2,000,000 to $5,000,000. .

2,094,105

2,952,079

4,662,976

2,016,778

2,838,389

4,194,897

77,327

113,690

468,079

2,076,099

2,875,964

4,237,639

2,012,423

2,830,655

4,154,398

918,727

1,577,359

2,574,212

194,400

293,190

569,536

899,296

960,106

1,010,650

63,676

45,309

83,241

18,006

76,115

425,337

4,355

7,734

40,499

13,651

68,381

384,838

$5,000,000 to $10,000,000. 

$10,000,000 to $50,000,000 

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

3,611,066

7,790,084

10,248,516

2,838,976

4,971,923

8,074,111

772,090

2,818,161

2,174,405

2,837,099

5,079,874

8,609,366

2,772,174

4,899,274

7,739,564

1,859,708

3,495,829

6,233,234

485,371

917,149

1,450,647

427,095

486,296

55,683

64,925

180,600

869,802

773,967

2,710,210

1,639,150

66,802

72,649

334,547

707,165

2,637,561

1,304,603

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... 

N ot available1....................

Head 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...

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 

M ore than $50,000,000.

37,976,087

11,598

59,766

163,219

498,546

1,141,839

2,400,727

2,000,071

4,595,421

13,674,446

13,430,454

15,374,038

590

9,796

37,596

81,304

125,570

322,585

679,269

2,269,626

11,847,702

9,171,595

11,008

49,970

125,623

417,242

1,016,269

2,078,142

1,320,802

2,325,795

1,826,744

33,407,379

11,598

59,766

163,219

498,546

1,141,839

2,400,727

2,000,071

4,595,421

13,674,446

8,861,746

15,374,038

590

9,796

37,596

81,304

125,570

322,585

679,269

2,269,626

11,847,702

9,171,595

11,008

49,970

125,623

417,242

1,016,269

2,078,142

1,320,802

2,325,795

1,826,744

4,568,708 32,988,354 32,507,392 15,954,549 14,713,707

4,568,708

11,598

59,766

162,874

498,041

1,136,219

2,377,109

1,964,709

4,381,185

13,054,145

9,342,708

14,933,591

590

9,796

37,596

81,304

125,570

322,585

665,421

2,139,577

11,551,152

8,712,055

11,008

49,970

125,278

416,737

1,010,649

2,054,524

1,299,288

2,241,608

1,502,993

11,598

59,766

162,874

498,041

1,136,219

2,377,109

1,964,709

4,381,185

13,054,145

8,861,746

14,933,591

590

9,796

37,596

81,304

125,570

322,585

665,421

2,139,577

11,551,152

8,712,055

11,008

49,970

125,278

416,737

1,010,649

2,054,524

1,299,288

2,241,608

1,502,993

431

4,071

57,558

251,326

602,677

1,150,203

1,007,657

2,419,604

6,542,080

3,918,942

6,962,888

13

481

1,724

14,140

108,150

319,761

1,094,739

5,423,880

5,072,719

418

4,071

57,077

249,602

588,537

1,042,053

687,896

1,324,865

1,118,200

142

4,493

21,710

114,160

338,871

952,644

763,622

1,565,238

6,332,455

4,620,372

6,982,619

87

918

7,486

70,904

224,306

731,256

5,947,662

3,110,716

55

4,493

21,710

113,242

331,385

881,740

539,316

833,982

384,793

11,025

51,202

83,606

132,555

194,671

274,262

193,430

396,343

179,610

322,432

988,084

490

9,796

37,115

78,662

103,944

143,531

121,354

313,582

179,610

528,620

10,535

41,406

46,491

53,893

90,727

130,731

72,076

82,761

480,962 4,987,733 899,987 4,087,746

345

505

5,620

23,618

35,362

214,236

620,301

4,087,746

440,447

345

505

5,620

23,618

35,362

214,236

620,301

480,962 4,087,746

440,447

13,848

130,049

296,550

459,540

13,848

130,049

296,550

459,540

345

505

5,620

23,618

21,514

84,187

323,751

345

505

5,620

23,618

21,514

84,187

323,751

1 Deposits of head offices and branches of noninsured banks operating branches and of 222 insured banks operating branches are not available separately. Excludes figures 

or 34 noninsured commercial banks for which data are not available.

N o t e : For the number of banks on which these deposit figures are based, see Table 105.

Back figures— See the Annual Report for 1939, p. 112.

DEPOSITS OF BANKING OFFICES 129

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Federal Reserve Bank of St. Louis
CO

o

Table 114. D e p o s it s OF OPERATING BANKS, JUNE 29, 1940 

BANKS 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

Total Insured Noninsured Total

Total

Members F. R. 

System

N ot 

members 

F. R.

System

Noninsured1 Total Insured Noninsured

National State

(In thousands of dollars)

70,958,708 59,852,896 11,105,812 60,325,881 58,425,391 33,013,714 18,715,406 6,696,271 1,900,490 10,632,827 1,427,505 9,205,322

47,501

458,950

1,171,075

30,429

411,184

1,119,770

17,072

47,766

51,305

47,402

458,451

1,169,364

30,429

411,046

1,118,976

1,449

65,100

333,547

441 28,539

330,957

708,988

16,973

47,405

50,388

99 99

14,989

76,441

499

1,711

138

794

361

917

2,210,322

3,153,053

5,085,382

2,129,024

3,028,985

4,569,177

81,298

124,068

516,205

2,192,316

3,076,938

4,626,023

2,124,669

3,021,251

4,528,678

920,295

1,589,610

2,655,619

195,190

302,284

625,845

1,009,184

1,129,357

1,247,214

67,647

55,687

97,345

18,006

76,115

459,359

4,355

7,734

40,499

13,651

68,381

418,860

4,505,104

12,637,416

41,689,905

3,628,267

8,748,481

36,187,579

876,837

3,888,935

5,502,326

3,658,936

8,837,922

36,258,529

3,561,465

8,519,017

35,109,860

2,232,170

5,051,665

20,164,259

749,867

2,310,504

14,439,845

579,428

1,156,848

505,756

97,471

318,905

1,148,669

846,168

3,799,494

5,431,376

66,802

229,464

1,077,719

779,366

3,570,030

4,353,657

32,982,621 26,445,517 6,537,104 27,337,527 25,917,999 17,059,165 4,001,699 4,857,135 1,419,528 5,645,094 527,518 5,117,576

47,501

452,688

1,123,606

30,429

405,472

1,074,542

17,072

47,216

49,064

47,402

452,189

1,121,895

30,429

405,334

1,073,748

1,449

65,100

333,547

441 28,539

325,245

664,225

16,973

46,855

48,147

99 99

14,989

75,976

499

1,711

138

794

361

917

2,094,105

2,952,079

4,662,976

2,016,778

2,838,389

4,194,897

77,327

113,690

468,079

2,076,099

2,875,964

4,237,639

2,012,423

2,830,655

4,154,398

918,727

1,577,359

2,574,212

194,400

293,190

569,536

899,296

960,106

1,010,650

63,676

45,309

83,241

18,006

76,115

425,337

4,355

7,734

40,499

13,651

68,381

384,838

3,611,066

7,790,084

10,248,516

2,838,976

4,971,923

8,074,111

772,090

2,818,161

2,174,405

2,837,099

5,079,874

8,609,366

2,772,174 

4,899,274 

7,739,564 I

1,859,708 

3,495,829 

I 6,233,234

485,371

917,149

1,450,647

427,095

486,296

55,683

64,925

180,600

869,802

773,967

2,710,210

1,639,150

66,802

72,649

334,547

707,165

2,637,561

1,304,603

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..

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks operating branches

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.

37,976,087 33,407,379 4,568,708 32,988,354 32,507,392 15,954,549 14,713,707 1,839,136 480,962

6,262

47,469

116,217

200,974

422,406

894,038

4,847,332

31,441,389

5,712

45,228

112,246

190,596

374,280

789,291

3,776,558

28,113,468

550

2,241

3,971

10,378

48,126

104,747

1,070,774

3,327,921

6,262

47,469

116,217

200,974

388,384

821,837

3,758,048

27,649,163

5,712

45,228

112,246

190,596

374,280

789,291

3,619,743

27,370,296

5,712

44,763

109,888

169,251

236,564

152,333

670,552

450,073

550

2,241

3,971

10,378

14,104

32,546

138,305

278,867

465

790

9,094

56,309

264,496

1,393,355

12,989,198

1,568

12,251

81,407

372,462

1,555,836

13,931,025

4,987,733 899,987 4,087,746

34,022

72,201

1,089,284

3,792,226

34,022

72,201

932,469

3,049,054

156,815

743,172

1 Excludes figures for 34 noninsured commercial banks for which data are not available.

N o t e : For the number of banks on which these deposit figures are based, see Table 1 0 6 .

Back figures— See the following Annual Reports: 1939, p. 114; 1938, p. 150; 1937, p. 96; 1936, p. 125; 1935, pp. 150-54.

h->-

CODEPOSITS OF BANKING OFFICES

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 115. DEPOSITS OF OPERATING B a n k s , J u n e 29, 1940 

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS

(In thousands of dollars)

United States and possessions— total........................

United States.........................

Possessions..............................

State

Alabama................................

Arizona..................................

Arkansas................................

California..............................

Colorado................................

Connecticut..........................

Delaware................................

District of Columbia..........

Florida....................................

Georgia..................................

Idaho......................................

Illinois....................................

Indiana..................................

Iow a........................................

Kansas...................................

K entucky..............................

Louisiana...............................

M aine.....................................

M aryland..............................

Massachusetts.....................

All banks

Total Insured

70,958,708

70,733,204

225,504

328,358

92,863

190,899

4,408,232

342,894

1,391,441

241,619

384,677

454,214

503,153

100,427

5,035,535

980,828

691,690

407,539

482,832

543,557

344,644

948,812

4,350,184

59,852,896 

59,845,256 

7,640

326,276

92,863

189,996

4,371,969

341,070

556,264

199,742

384,677

452,005

497,341

97,878

5,023,461

964,366

658,164

359,041

476,122

543,142

212,582

693,437

2,121,355

Noninsured1

Commercial banks

Total

11,105,812

10,887,948

217,864

2,082

903

36,263

1,824

835,177

41,877

2,209

5,812

2,549

12,074

16,462

33,526

48,498

6,710

415

132,062

255,375

2,228,829

60,325,881 

60,100,377 

225,504

328.358 

92,863

190,899

4,408,232

342,894

651,069

200,093

384,677

454,214

503,153

100,427

5,035,535

960,619

691,690

407,539

482,832

543,557

215,585

720.359 

2,187,628

Insured

Total

58,425,391 

58,417,751 

7,640

326,276

92,863

189,996

4,371,969

341,070

556,264

199,742

384,677

452,005

497,341

97,878

5,023,461

950,706

658,164

359,041

476,122

543,142

197.821

691.822 

2,121,355

Members F. R. 

System

National State

33,013,714 18,715,406

33,013,714 18,715,406

233,731

64,770

111,830

3,093,708

282,190

47,372

10,639

24,782

820,492

33,813

322,314

19,703

225,068

350,287

335,296

81,862

126,599

123,619

14,411

74,830

52,729

3,734,792

537,474

250,253

240,500

34,351

893,866

110,256

107,168

23,115

257,892 

382,716 

125,745 

| 411,055 

! 1,604,999

70,793

58,167

34,634

149,288

391,044

Not 

members 

F. R.

System

6,696,271

6,688,631

7,640

45,173

17,454

53,384

457,769

25,067

152,088

53,440

35,990

87,307

87,215

10,798

394,803

302,976

300,743

95,426

147,437

102,259

37,442

131,479

125,312

Noninsured1

1,900,490

1,682,626

217,864

2,082

903

36,263

1,824

94,805

351

2,209

5,812

2,549

12,074

9,913

33,526

48,498

6,710

415

17,764

28,537

66,273

Mutual savings banks

Total

10.632.827

10.632.827

740,372

41,526

Insured

1.427.505

1.427.505

20,209 13,660

I

129,059

228,453

2,162,556

14,761

1,615

Noninsured

9.205.322

9.205.322

740,372

41,526

6,549

114,298

226,838

2,162,556

132 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Michigan............

Minnesota..........

Mississippi.........

M issouri.............

M ontana.............

Nebraska............

N evada...............

New Hampshire

New Jersey........

New Mexico. . . .

New Y ork..........

North Carolina. 

North D akota. .

Ohio.....................

Oklahoma...........

Oregon.................

Pennsylvania. . . 

Rhode Island. . . 

South Carolina.. 

South D akota...

Tennessee...........

Texas...................

U tah....................

V erm ont.............

Virginia...............

Washington 

West Virginia.. .

W isconsin...........

W yom ing............

1,700,035

1,036,282

199,026

1,587,143

145,686

323,240

43,125

285,417

2,147,648

62,514

25,296,330

481,358

97,642

2,648,578

465,805

333,352

5,785,445

503,150

154,486

97,352

571,906

1,606,888

160,951

171,125

639,557

598,510

312,183

987,249

66,823

1,672,742

1,025,866

195,274

1,581,503

145,686

314,487

43,125

84,643

1,954,362

62,149

19,367,652

474,337

72,944

2,643,856

463,876

329,498

5,283,132

259,018

147,286

96,742

5 6 9 ,1 8 6

17580,038

160,951

171,125

639,349

587,233

307,915

982,707

66,823

27,293

10,416

3,752

5,640

8,753

*200,774

193,286

365

5,928,678

7,021

24,698

4,722

1,929

3,854

502,313

244,132

7,200

610

2,720

26,850

208

11,277

4,268

4,542

1,700,035

969,341

199,026

1,587,143

145,683

323,240

43,125

91,473

1,820,448

62,514

19,625,461

481,358

97,642

2,524,689

465,805

330,492

5,175,425

323,555

154,486

97,352

571,906

1,606,888

160,951

113,690

639,557

525,436

312,183

982,424

66,823

1,672,742

958,925

195,274

1,581,503

145,686

314,487

43,125

84,643

1,817,851

62,149

18,599,721

474,337

72,944

2,519,967

463,876

326,638

5,118,823

259,018

147,286

96,742

569,186

1,580,038

160,951

113,690

639,349

514,159

307,915

978,188

66,823

943,826

750,180

69,210

718,244

82,307

254,606

39,845

74,118

864,319

49,701

7,504,949

111,159

49,895

1,150,353

410,910

301,415

3,142,952

107,959

101,562

59,045

429,788

1,405,510

74,136

58,517

387,392

456,772

170,520

559,276

48,196

502,165

16,102

12,719

630,596

43,713

5,673

899

1,364

590,621

2,138

10,453,725

196,493

1,047,738

4,955

4,515

1,322,386

144,523

10,348

13,383

43,495

50,784

57,749

' 115,226

25,871

70,662

111,582

4,880

226,751

192,643

113,345

232,663

19,666

54,208

2,381

9,161

382,911

10,310

641,047

166,685

23,049

321,876

48,011

20,708

653,485

6,536

35,376

24,314

95,903

123,744

29,066

55,173

136,731

31,516

66,733

307,330

13,747

27,293

10,416

3,752

5,640

66,941 66,941

8,753

6,830

2,597

365

1,025,740

7,021

24,698

4,722

1,929

3,854

56,602

64,537

7,200

610

2,720

26,850

193,944

327,200

193,944

136,511 190,689

5,670,869 767,931 4,902,938

123,889 123,889

2,860

610,020

179,595

2,860

164,309 445,711

179,595

57,435 57,435

208

11,277

4,268

4,236

73,074 73,074

4,825 4,519 306

1 Excludes figures for 34 noninsured commercial banks for which data are not available.

N o t e : For the number of banks on which these deposit figures are based, see Table 107.

Back figures— See the following Annual Reports: 1939, p. 116; 1938, p. 152; 1937, p. 98; 1936, p. 126; 1935, p. 150; 1934, p. 182.

CO

CODEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 116. D e p o s it s o f O p e r a t i n g C o m m e r c ia l B a n k s , J u n e 29, 1940

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS

All

banks

Banks with deposits of—

$100,000

or

less

$100,000 $250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000

to to to to to to to

$250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 $50,000,000

More than 

$50,000,000

(In thousands of dollars)

United States and

sions— total.........

Insured banks...........

Noninsured banks1. .

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...........

N oninsured banks. . .

California.....................

Insured banks...........

Noninsured banks. . .

Colorado........................

Insured banks...........

Noninsured banks. . .

Connecticut.................

Insured banks...........

Noninsured banks. . .

Delaware..................... ..

Insured banks...........

Noninsured banks. . .

District of Columbia.

Insured banks...........

Noninsured banks. ..

60,325,881

58,425,391

1,900,490

60,100,377

58,417,751

1,682,626

225,504

7,640

217,864

328,358

326,276

2,082

92.863

92.863

190,899

189,996

903

4,408,232

4,371,969

36,263

342,894

341,070

1,824

651,069

556,264

94,805

200,093

199,742

351

384.677

384.677

47,402

30,429

16,973

458,451

411,046

47,405

1,169,364

1,118,976

50,388

2,192,316

2,124,669

67,647

3,076,938

3,021,251

55,687

4,626,023

4,528,678

97,345

3,658,936

3,561,465

97,471

8,837,922

8,519,017

318,905

36,258,529

35,109,860

1,148,669

47,252

30,429

16,823

458,097

411,046

47,051

1,167,406

1,118,976

48,430

2,188,640

2,124,669

63,971

3,066,584

3,016,446

50,138

4,606,595

4,525,843

80,752

3,626,502

3,561,465

65,037

8,787,654

8,519,017

268,637

36,151,647

35,109,860

1,041,787

150 354 1,958 3,676 10,354

4,805

5,549

19,428

2,835

16,593

32,434 50,268 106,882

150 354 1,958 3,676 32,434 50,268 106,882

1,026

993

33

10,360

9,629

731

22.789

22.789

27,145

25,827

1,318

1.925

1.925

25.404

25.404

46.948

46.948

16.148

16.148

107.594

107.594

70.944

70.944

330 1.133

1.133

19.990

19.990

69,485

330 69,485

1 612 11,380 18,713

18,312

401

11.911

11.911

27.114

27.114

25.388

25.388

16,682

16,682

21.252

21.252

68.758

l ’,512 68.758

100

93

93

10,978

402

1,718

1,370

348

5,071

4,749

322

1,108

709

399

39.242

39.242

54,477

53,074

1,403

34.709

34.709

110,644

107,238

3,406

30.618

30.618

88,576

75,191

13,385

278,342

260,621

17,721

3.823.229

3.823.229

655

425

230

12,696

11,991

705

3,572

2,077

1,495

19,926

19,359

567

21.234

21.234

154.228

154.228

63.757

63.757

10,607

9,998

609

40,440

33,979

6,461

110,257

103,419

6,838

76,264

68,352

7,912

260,989

249,466

11,523

147,832

88,264

59,568

88

88

643

292

351

3.703

3.703

8.652

8.652

10.041

10.041

14.456

14.456

5.069

5.069

64.790

64.790

92.651

92.651

955 1.185

1.185

12,736 45,173 150,191 174,437

955 12,736 45,173 150,191 174,437

134 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
F lorid a.....................................

Insured banks....................

454,214

452,005

2,209

503,153

497,341

5,812

100,427

97,878

2,549

5,035,535

186

186

3,856

3,745

111

16,377

13,800

2,577

1.897

1.897

12.760

12.760

G e o rg ia ...................................

Insured banks....................

Noninsured banks.............

I d a h o .......................................

Insured banks....................

3,395

1,857

1,538

139

139

23,971

23,716

255

3.654

3.654

Illin o is .................................... 1,281 22,345 72,192

Insured banks.................... 5,023,461 989 21,840 71,545

Noninsured banks............. 12,074 292 505 647

In d ia n a ................................... 960,619 513 15,924 51,187

Insured banks.................... 950,706 328 14,323 49,046

Noninsured banks............. 9,913 185 1,601 2,141

I o w a ......................................... 691,690 642 17,607 80,167

Insured banks.................... 658,164 176 14,325 72,529

Noninsured banks............. 33,526 466 3,282 7,638

K an sas .................................... 407,539 6,598 40,993 53,441

Insured banks.................... 359,041 1,703 26,580 43,008

Noninsured banks............. 48,498 4,895 14,413 10,433

K e n tu c k y .............................. 482,832 2,021 18,179 34,866

Insured banks.................... 476,122 1,138 16,906 33,289

Noninsured banks............. 6,710 883 1,273 1,577

L o u isia n a ............................... 543,557 405 2,163 10,846

Insured banks.................... 543,142 405 2,163 10,431

Noninsured banks 415 415

M a in e .................................. 215,585 235 2,070

Insured banks.................... 197,821 1,249

Noninsured banks............. 17,764 235 821

M a ry la n d ............................... 720,359 3,954 14,280

Insured banks................ 691,822 3,954 14,280

Noninsured banks 28,537

M assachu setts..................... 2,187,628 78 514 3,956

Insured banks.................... 2,121,355 78 353 3,611

Noninsured banks. 66,273 161 345

M ich ig a n ................................ 1,700,035 389 9,255 48,301

Insured banks.................... 1,672,742 204 7,220 45,282

Noninsured banks............. 27,293 185 2,035 3,019

M in n esota ............................. 969,341 899 30,656 78,141

Insured banks.................... 958,925 415 28,665 76,802

Noninsured banks............. 10,416 484 1,991 1,339

M ississip p i............................ 199,026 1,316 6,064 20,720

Insured banks.................... 195,274 1,145 5,681 19,037

Noninsured banks............. 3,752 171 383 1,683

25,616

25,089

527

32,051

30,609

1,442

9.507

9.507

48,277

46,706

1,571

36.193

36.193

57.334

57.334

47.908

47.908

201.409

201.409

56.868

56.868

45.517

45.517

25.591

25.591

89.269

89.269

230.789

230.789

5.189

5.189

19,481

16,932

2,549

291,367

282,786

8,581

142,278

139,695

2,583

88,791

82,599

6,192

66,396

64,108

2,288

62.272

62.272

5.536

5.536

55.024

55.024

153,231

151,182

2,049

75,209

74,054

1,155

128,174

119,995

8,179

66,951

55,150

11,801

61,166

59,301

1,865

28.315

28.315

161.477

161.477

307.753

307.753

568.690

568.690

3.457.199

3.457.199

121,575

119,327

2,248

134,700

126,931

7,769

64,928

60,260

4,668

70,420

69,308

1,112

41.583

41.583

79.369

79.369

328.735

328.735

145.829

145.829

90.974

90.974

150.635

150.635

20.540

20.540

87.692

87.692

40.367

40.367

128.326

128.326

65.215

65.215

35.577

35.577

33.623

33.623

128.505

128.505

262.540

262.540

8,220

6,809

1,411

33.282

33.282

24,810

23,080

1,730

54.487

54.487

69,443

64,391

5,052

55.781

55.781

58,462

49,947

8,515

65.791

65.791

52.345

52.345

208,426

179,889

28,537

431,763

373,003

58,760

281,708

263,689

18,019

95.370

95.370

284.358

284.358

22,617

21,702

915

75,508

74,041

1,467

120,142

118,552

1,590

34,006

32,491

1,515

62.169

62.169

191,161

185,069

6,092

166,262

166,262

197.571

197.571

1.277.799

1.277.799

94,810

92,242

2,568

91,328

88,618

2,710

37.198

37.198

114.052

114.052

909.750

909.750

66,585

64,283

2,302

47.489

47.489

58.884

58.884

427.336

427.336

39.946

39.946

12.287

12.287

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 116. D e p o s it s OF O p e r a t in g C o m m e r c ia l B a n k s , Ju n e 29, 1940— Continued

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS CO

o*

M issouri....................

Insured banks. . . . 

Noninsured banks.

M ontana...................

Insured banks. . . . 

Noninsured banks.

Nebraska...................

Insured banks. . . . 

N oninsured banks.

Nevada........................

Insured banks. . . . 

Noninsured banks.

New Hampshire. . .

Insured banks. . . . 

Noninsured banks.

New Jersey...............

Insured banks. . . . 

Noninsured banks.

New M exico.............

Insured banks. . . . 

Noninsured banks.

New Y ork..................

Insured banks. . . . 

Noninsured banks.

North Carolina. . . .

Insured banks. . . . 

Noninsured banks.

North Dakota.........

Insured banks. . . . 

Noninsured banks.

O hio............................

Insured banks. . . . 

Noninsured banks.

Oklahoma.................

Insured banks. . . . 

Noninsured banks.

All

banks

Banks with deposits of—

1,587,143

1,581,503

5,640

145.686

145.686

323,240

314,487

8,753

43.125

43.125

91,473

84,643

6,830

1,820,448

1,817,851

2,597

62,514

62,149

365

19,625,461

18,599,721

1,025/740

481,358

474,337

7,021

97,642

72,944

24,698

2,524,689

2,519,967

4,722

465,805

463,876

1,929

$100,000 $100,000 $250,000 | $500,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 More than

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

5,054

3,984

1,070

119

119

4,253

2,454

1,799

78

’78'

6 

’ 6'

94

662

512

150

1,564

1,239

325

434

168

266

2,213

1,898

315

33,926

30,895

3,031

3.610

3.610

27,121

23,279

3,842

982

684

298

198

198

577

577

4,278

3,878

400

7,918

7,567

351

10,849

10,145

704

12,475

11,213

1,262

20,118

19,187

931

44,956

44,017

939

11.770

11.770

36,879

35,904

975

722

722

4,315

3,828

487

5,886

5,124

762

3,654

3,289

365

35,492

35,202

290

19,459

19,195

264

14,682

14,299

383

58,797

56,164

2,633

40,784

40,101

683

(In thousands of dollars) 

68,778

68,178 

600

21.750

21.750

34,196

33,410

786

3.061

3.061

15,142

12,633

2,509

46,623

44,794

1,829

7.363

7.363

120,317

119,151

1,166

29,889

29,092

797

8.543

8.543

125,176

124,615

561

40.762

40.762

78.872

78.872

116.263

116.263

130.421

130.421

178.942

178.942

929.931

929.931

11.335

11.335

41.247

41.247

8.303

8.303

47.552

47.552

32,221

30,870

1,351

3.759

3.759

23.799

23.799

7.641

7.641

157.130

157.130

2.459

2.459

33.124

33.124

17.743

17.743

26,961

23,503

3,458

299.263

299.263

26.252

26.252

158.529

158.529

253.191

253.191

666.994

666.994

389.758

389.758

15.528

15.528

7.754

7.754

16.495

16.495

11.143

11.143

247,394

245,965

1,429

54.073

54.073

466,319

453,405

12,914

71.980

71.980

442,147

437,119

5,028

38,007

32,548

5,459

7.053

7.053

869,436

847,236

22,200

80.301

80.301

17,439,984

16,457,765

982,219

179.069

179.069

13.291

13.291

18.374

18.374

23,286

23,286

421.613

421.613

198.396

198.396

274.549

274.549

199.110

199.110

1.234.139

1.234.139

49.102

49.102

63.194

63.194

33.047

33.047

37.134

37.134

179.451

179.451

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. . . . 

N oninsured banks.

South Dakota.........

Insured banks. . . . 

Noninsured banks.

Tennessee.................

Insured banks. . . . 

Noninsured banks.

Texas..........................

Insured banks. . . . 

Noninsured banks.

U tah............................

Insured banks. . . . 

N oninsured 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. . . . 

N oninsured banks.

330,492

326,638

3,854

5,175,425

5,118,823

56,602

323,555

259,018

64,537

154,486

147,286

7,200

97,352

96,742

610

571,906

569,186

2,720

1,606,888

1,580,038

26,850

160.951

160.951

113.690

113.690

639,557

639,349

208

525,436

514,159

11,277

312,183

307,915

4,268

982,424

978,188

4,236

66.823

66.823

' '68'

280

95

185

25

25

8

1,834

1,023

811

820

820

2,062

1,868

194

4,738

3,062

1,676

235

235

470

406 

64

286

75

211

456

407 

49

165

165

3.495

3.495

9,616

9,187

429

5,917

4,759

1,158

12.690

12.690

14,901

14,421

480

35,103

32,895

2,208

1.251

1.251

526

526

7,418

7,210

208

4,567

4,329

238

2,921

2,755

166

16,210

15,985

225

1.131

1.131

6.332

6.332

53,008

52,710

298

9,262

8,956

306

16.676

16.676

24.788

24.788

70,436

65.386

5,050

6.428

6.428

3.895

3.895

24.355

24.355

14.798

14.798

14.493

14.493

56,185

54,104

2,081

5.088

5.088

10.446

10.446

186,098

181,880

4,218

2.419

2.419

17,476

14,286

3,190

12,518

11,908

610

39,276

38,486

790

128,299

120,756

7,543

13.342

13.342

13.197

13.197

62.140

62.140

21,061

21,061

15.814

15.814

383,162

377,633

5,529

5,353

5,353

20,395

18,660

1,735

11.367

11.367

43,569

42,313

1,256

123,350

122,105

1,245

11.733

11.733

27.141

27.141

87.463

87.463

37,912

36,831

1,081

99,291

97,410

1,881

14.004

14.004

17.496

17.496

48.235

48.235

135.802

135.802

13.540

13.540

11,457

7,671

3,786

743.036

743.036

20,109

13,222

6,887

20.454

20.454

11.227

11.227

35.005

35.005

153,667

151,415

2,252

8.707

8.707

55.099

55.099

108.039

108.039

23,366

20,604

2,762

63,489

60,679

2,810

159.523

159.523

13.190

13.190

14.399

14.399

480,114

470,465

9,649

25.237

25.237

18.285

18.285

11.309

11.309

20.391

20.391

151,848

144,972

6,876

6.797

6.797

13.832

13.832

60,018

60,018

54,685

46,472

8,213

43.878

43.878

84.254

84.254

19.705

19.705

699,228

662,934

36,294

91,507

39,210

52,297

60.863

60.863

20.745

20.745

197.131

197.131

602.694

602.694

112.693

112.693

152.623

152.623

117.792

117.792

100.969

100.969

130.193

130.193

268.481

268.481

2.620.883

2.620.883

178.905

178.905

194.783

194.783

336.753

336.753

137.266

137.266

271.201

271.201

300.510

300.510

1 Excludes figures for 34 noninsured commercial banks for which data are not available.

N o t e : For the number of banks on which these deposit figures are based, see Table 110.

Back figures— See the following Annual Reports: 1939, p, 118; 1938, p. 154; 1937, p. 100; 1936, p. 128; 1935, p. 156

DEPOSITS OF BANKING OFFICES 137

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 117. DEPOSITS OF OPERATING M U TU AL SAVINGS BANKS, JUNE 29, 1940 

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE

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

$10,000,000

to

$50,000,000

More

than

$50,000,000

10,632,827

1,427,505

9,205,322

740,372

99 499

138

361

1,711

794

917

(In t

18,006

4,355

13,651

2,013

;housands of

76,115

7,734

68,381

12,378

dollars)

459,359

40,499

418,860

68,547

846,168

66,802

779,366

130,359

3,799,494

229,464

3,570,030

450,328

5,431,376

1,077,719

4,353,657

76,747

99

State

f'!ahti ortlpii t . .

740,372

41,526

2,013 12,378 68,547 130,359

9,577

450,328

31,949

76,747

41,526

20,209

13,660

6,549

129,059

14,761

114,298

228,453

1,615

226,838

2,162,556

9,577

14,979

8,430

6,549

34,880

6,913

27,967

9,388

31,949

5.230

5.230

268 3,700

2,740

960

1.615

1.615

14,928 34,239

5,108

29,131

4,976

41,044

268

343

14,928 41,044

66,260 145,871

343 4,976

177,528

9,388

357,020

66,260

1,112,183

145,871

MciccorliiiQPttQ ................. 99 191 5,315 18,206 492,014

2,162,556

66.941

66.941

99 191 5,315 18,206 177,528 357,020 1,112,183 492,014

66.941

66.941

193,944 4,850 13,613 65,001 23,701 86,779

Noninsured banks................................................... 193,944 4,850 13,613 65,001 23,701 86,779

138 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
New Jersey...............

Insured banks. . . . 

Noninsured banks.

New Y ork..................

Insured banks. . . . 

Noninsured banks.

O hio............................

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. . . . 

N oninsured banks.

W isconsin.................

Insured banks. . . . 

Noninsured banks.

327,200

136,511

190,689

5,670,869

767,931

4,902,938

123.889

123.889

2,860

2,860

610,020

164,309

445,711

179,595

179,595

57.435

57.435

73.074

73.074

4,825

4,519

306

170

'i70

138

138

477

477

317

317

306

306

513

513

2,521

1,071

1,450

7,806

7,806

1.487

1.487

3.341

3.341

1.835

1.835

8,705

5,010

3,695

69,982

69,982

2,860

2,860

7.651

7.651

4.621

4.621

7.473

7.473

2.546

2.546

53,624

29,642

23,982

185,108

185,108

7.978

7.978

5,715

13.839

13.839

168,534

100,311

68,223

1,615,030

45,568

1,569,462

86,768

48,268

38,500

105,302

105,302

35.317

35.317

93,339

93,339

3,792,943

722,363

3,070,580

114.424

114.424

515,601

108,390

407,211

67,895

67,895

65.601

65.601

N o t e : For the number of banks on which these deposit figures are based, see Table 112.

Back figures— See the following Annual Reports: 1939, p. 122; 1938, p. 158; 1937, p. 104; 1936, p. 132; 1935 p. 164.

CO

<£> DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF OPERATING BANKS

Table 118. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING BANKS IN THE UNITED STATES AND POSSESSIONS, 1935-1940

BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BANK 

(Amounts in millions of dollars)

1935 1936 1937 1938 1939 1940

Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30 June 29 Dec. 31

ALL C O M M ERCIAL AND M U TU AL SAVINGS 

BANKS

ASSETS

Cash and amounts due from other banks............................

United States Government obligations1................................

Loans, discounts, and overdrafts...........................................

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

LIABILITIES AND CAPITAL

Total deposits..............................................................................

Total capital accounts...............................................................

T otal liabilities and capital a cco 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

25,597

19,753

9,326

22,310

2,755

79.741

70,959

624

8,158

79.741

M

U

H

W

£

28,122 “ 

21,032 M 

9,438 ft 

23,742 hh

2,710 o

85.044 ui

3

76,192 3 

644 W

8,208 ej

85.044

>

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

Number of banks not included2.................................

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

14,970

37

15,007

14,917 £ 

33 Q 

14,950 H

ALL INSURED BANKS

ASSETS

Cash and amounts due from other banks............................

United States Government obligations1................................

Loans, discounts, and overdrafts...........................................

T otal assets...........................................................................

LIABILITIES AND CAPITAL

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

24,031

16,322

7,219

17,612

1,990

67.174

59,853

563

6,758

67.174

O

O

W

*3

O

26,493 ^ 

17,612 !% 

7,569 3 

19,035 O 

1,995 2

72.704

65,288

582

6,834

72.704

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

Number of banks not included2.................................

Total operating banks..............................................

14,179

3

14,182

14,115

6

14,121

14,026

3

14,029

13,941

2

13,943

13,851

2

13,853

13,779

4

13,783

13,707

2

13,709

13,618

2

13,620

13,586

3

13,589

13,531

3

13,534

13,491

4

13,495

140 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ALL NONINSURED BAN KS

ASSETS

Cash and amounts due from other banks........................... 953 951 1,019 

2,492 

2,798 

4,954 

963 

12 226

911 

2,716 

2,799 

4,947 

971 

12 344

899 

2,764 

2 686

934

3,008 O CIO

1,015

3,219

2,433

4,830

1,095

3,385

2,323

4,692 Q

1,315

3,473

2,120

4,659

1,566

3,431

2,107

4,698

765

12,567

1,629

3,420

1,869

4,707

715

12,340

United States Government obligations1............................. 2,056

2,910

5,083

907

2,348

2,826

4,994

951

12,070

Other securities..................................................

Loans, discounts, and overdrafts..................................

Miscellaneous assets....................................... 4^897

937

4,861

T o ta l a ssets................................................ 11,909 12 183

otJO

12,399

ODO

12,361

842

12,409

LIABILITIES AND CAPITAL

Total deposits................................. 10,387

84

1,438

11,909

10,522

80

10 645 10,754

92

1,498

12,344

10 601 1 A /'Kl 10,847

7Q 10,843OA 10,928 11,106

61

1,400

12,567

10,904

62

1,374

12,340

Miscellaneous liabilities............................ 87

1,494

12,226

* 84 

1,498 

12,183

iu,oo±

7A

Total capital accounts............................... 1,468

12,070

t 4

1 A%r7 1,473 

12 399

04

1,454 

12 361

59

1,422

12,409 T o ta l liabilities and ca p ital a cco u n ts .....................

1,4o I

12,212

Number of banks included......................... 1,699

59

1,661

56

1,629

56

1,685

1,584

57

1,641

1,547

44

1,591

1,514

46

1,560

1,496

52

1,548

1,478

39

1,517

1,454

AO

1,439Q A1,426

29

1,455

Number of banks not included2................

Total operating banks........................................... 1,758 1,717 1,496

o 4

1,473

ALL C O M M ER C IA L BAN KS

ASSETS

Cash and amounts due from other banks......... 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

15,355 

14,219 

7 062

16,815

14,097

7 (\(\K

17,676 

15,117 

7,229 

16,440 

2,260 CQ 70')

19,842

15,742

7,245

16,442

2,140

61,411

22,509

16,343

7,103

17,263

2,058

65,276

24,618

16,608

7,179

17,427

1,964

67,796

27,154

17,794

7,373

18,830

1,945

73,096

United States Government obligations1.............

Other securities......................

Loans, discounts, and overdrafts.......................... 17*, 489 

2 276

17^190

9 171

i ,uuo 

16,149 Miscellaneous assets...................... 9 non

T otal assets............................... 56*861

^^1(1 Re OQ7 Ld ,uyu

00,77/ 56,156 Oo,/ZZ

LIABILITIES AND CAPITAL

Total deposits............................... 45,632

636

6,518

52,786

48,184

705

6,605

55,494

A Q 48,908

£79

51,355 A/f Q 53,985 COQ 57,887 60,325 65,532 Miscellaneous liabilities...............

Ol/,ODt)

670 

6 636

751

4o,000

RAQ

Total capital accounts.................. * 6 687

D4«7

£Q9

0 (6

6,676 

56,156

o4o

6,719

58,722

OjUO

6,798

61,411

588

6,801

65,276

595

6,876

67,796

619

6,945

73,096 T otal liabilities an d ca p ita l a ccou n ts . . 58,171 56,861 55,997

Number of banks included.............. 15,312 15,211

62

15,092

59

15,151

14,963

59

15,022

14,836

46

14,882

14,731

50

14,781

14,649 14,544 14,489

A tZ 14,419Q7 14,366

33

14,399

Number of banks not included2....................... 62

Total operating banks............................... 15,374 15,273

04

14,703 14,585

40

14,534

O i

14,456

ALL M UTU AL SAVIN GS BANKS

ASSETS

Cash and amounts due from other banks........... 552 544 565 

2,188 

2 730

529 

2,342 

2 746

547

2,464

9 £77

577

2,690

9 /1Q1

586 

2 889

709 81 K 979

3,145

2,147

4,883

United States Government obligations1............. 1,684

2,920

1,984 

2 795

3,058

2,277

4,867

ola

3,119

2,180

4,867

yoo

3,238

2,065

4,912

Other securities...................... 2^380

4,875 QQ^

Loans, discounts, and overdrafts. . . 5^127 

875 

11 158

5*030 

937 

11 290

4*973 

942 

11 398

4^972

938

,u ( i

4,929 QOO

^,4y i 

A OOzf

Miscellaneous assets...............

4,yu4

onn

T o ta l a ssets............................. •7 LdLt

1 1 K?0 yuu

11,562

oo4

11,614

865

11,769

865

11,846

791

11,945

765

11,DZ/ 11)007 11,948

LIABILITIES AND CAPITAL

Total deposits............................... 9 880 9 975 10 061 10 163 10 1 h q 1A 019 10,283

on

10,526Ol 10,634 10,660

25

1,263

11,948

Miscellaneous liabilities. . . . ’ 21 

1,257 

11,158

’ 23 

1,292 

11,290

’ 19 

1,318 

11,398

* 24 

1,340 

11,527

IU,X i o 

22

iU,£i £ 

99

10,4319Q

Total capital accounts...................... 1 344 1,328

11,562

6\J

1,311

11,614

40

1,315

11,769

ZJL

1,299

11,846

29

1,282

11,945 T o ta l liabilities and cap ital a ccou n ts. .. . 11,’ 539

Number of banks................................ 566 565 563 562 562 562 554 552 551 551 551

---------------- --------------- ,--------------- --------------- --------------—---------- zrzz _ _ _ _ _ _ _ r — ■ ■ — —..........- ---------------

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 118. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING BANKS IN THE UNITED STATES AND POSSESSIONS, 1935-1940— Continued

BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BANK 

(Amounts in millions of dollars)

1935 1936 1937 1938 1939 1940

Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 31 June 30 Dec. 30 June 29 Dec. 31

INSURED C O M M ER C IA L BAN KS

ASSETS

13,851

13,275

6,841

14,039

14,772

7,412

15,730 14,540 14,931 16,371 17,176 19,354 21,876 23,864 26,291

14,750 13,965 13,669 13,525 14,507 15,038 15,568 15,901 17,064

7,558 7,214 6,807 6,753 6,944 6,955 6,860 6,920 7,099

14,719

2,241

15,131

2,238

15,965

2,208

17,044 16,750 15,726 16,024 16,041 16,866 17,014 18,398

2,142 2,055 1,994 2,149 2,038 1,977 1,890 1,868

50,927 53,592 56,211 54,905 54,212 54,369 56,800 59,426 63,147 65,589 70,720

LIABILITIES AND CAPITAL

44,147 46,649 49,283 47,830 47,224 47,461 49,779 52,327 56,076 58,425 63,470

569 644 599 679 584 516 586 584 546 557 577

6,211 6,299 6,329 6,396 6,404 6,392 6,435 6,515 6,525 6,607 6,673

T otal liabilities and capital a cc o u n ts ........................ 50,927 53,592 56,211 54,905 54,212 54,369 56,800 59,426 63,147 65,589 70,720

Number of banks in clu d ed ........................................ 14,123

3

14,059

6

13,970 13,885 13,795 13,723 13,659 13,569 13,535 13,480 13,438

Number of banks not included2.......................... 3 2 2 4 2 2 3 3 4

Total operating banks.............................................. 14,126 14,065 13,973 13,887 13,797 13,727 13,661 13,571 13,538 13,483 13,442

NONINSURED C O M M ER C IA L BAN K S

ASSETS

p or,i, o-nri ommints flue from other b an k s.. ........................ 469 477 524 451 424 444 500 488 633 754 863

United States Government obligations1................................ 551 574 541 626 550 572 610 704 775 707 730

274 302 330 300 255 252 285 290 243 259 274

Loans discounts £ind ovordrsfts........................................... 445 440 450 445 440 423 416 401 397 413 432

120 109 115 134 116 96 111 102 81 74 77

1,859 1,902 1,960 1,956 1,785 1,787 1,922 1,985 2,129 2,207 2,376

LIABILITIES AND CAPITAL

1,485 1,535 1,582 1,593 1,432 1,447 1,576 1,658 1,811 1,900 2,062

67 61 71 72 65 56 62 44 42 38 42

307 306 307 291 288 284 284 283 276 269 272

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 2,207 2,376

Number of banks included................................. .. 1,189

59

1,152 1,122 1,078 1,041 1,008 990 975 954 939 928

Number of banks not included2................................ 56 56 57 44 46 52 39 42 34 29

Total operating banks.............................................. 1,248 1,208 1,178 1,135 1,085 1,054 1,042 1,014 996 973 957

142 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
INSURED M U TU AL SAYING S BANKS

ASSETS

68 70 70 69 72 87 71 95 133 167 202

179 210 237 252 250 254 280 377 421 421 548

284 271 262 247 246 230 232 244 303 299 470

Loans, discounts, and overdrafts........................................ 489

88

476

95

469

94

470

101

472

101

466

100

461

93

576

101

605

104

598

100

637

127

1,108 1,122 1,132 1,139 1,141 1,137 1,137 1,393 1,566 1,585 1,984

LIABILITIES AND CAPITAL

978 988 998 1,002

4

1,004

3

1,008

4

1,012 1,246

3

1,409

4

1,428 1,818

4 4 3 3 6 5

126 > 130 131 133 ^ 134 125 122 144 153 151 161

1,108 1,122 1,132 1,139 1,141 1,137 1,137 1,393 1,566 1,585 1,984

Number of banks........................................................... 56 56 56 56 56 56 48 49 51 51 53

NONINSURED M U TU AL SAVINGS BANKS

ASSETS

Cash and amounts due from other banks........................... 484 474 495 460 475 490 515 607 682 812 766

United States Government obligations1............................... 1,505

2,636

4,638

1,774

2,524

4,554

842

1,951

2,468

4,504

2,090

2,499

4,502

837

2,214

2,431

4,457

821

2,436

2,261

4,438

800

2,609

2,148

4,414

791

2,681

2,033

4,291

764

2,698

1,877

4,262

761

2,724

1,848

4,285

691

2,690

Other securities ........................................................................ 1,595

Loans discounts, and overdrafts.......................................... 4,275

Miscellaneous assets.................................................................. 787 848 638

T ota l a ssets........................................................................... 10,050 10,168 10,266 10,388 10,398 10,425 10,477 10,376 10,280 10,360 9,964

LIABILITIES AND CAPITAL

Total deposits ........................................................................... 8,902

17

8,987

19

9,063

16

9,161

20

9,169

19

9,204

18

9,271

17

9,185

20

9,117

17

9,206

23

8,842

Miscellaneous liabilities............................................................ 20

Total capital accounts ......................................................... 1,131

10,050

1,162

10,168

1,187

10,266

1,207 1,210

10,398

1,203

10,425

1,189

10,477

1,171

10,376

1,146

10,280

1,131

10,360

1,102

T otal liabilities and capital a cco u n ts ....................... 10,388 9,964

Number of banks........................................................... 510 509 507 506 506 506 506 503 500 500 498

1 Includes both direct and fully guaranteed obligations.

2 Banks for which statements of assets and liabilities are not available, and, among insured banks, trust companies not members of the Federal Reserve System which are 

not engaged in deposit banking.

ASSETS AND LIABILITIES OF OPERATING BANKS 143

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Federal Reserve Bank of St. Louis
Table 119. Assets AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES 1934-1940

(Amounts in thousands of dollars)

1934 1935 1936 1937 1938 1939 1940

June 30 June 29 June 30 June 30 June 30 June 30 Dec. 30 June 29 Dec. 31

Number of banks1............................................... 13,896 14,175 14,059 13,885 13,723 13,569 13,535 13,480 13,438

ASSETS

Cash, balances w ith other banks, and cash 

item s in process o f c o lle ctio n :

Currency and coin. ...................................................

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...................................................

Elsewhere...................................................................

Other balances with banks in the United States..

Balances with banks in foreign countries.............

Cash items in process of collection.........................

T otal cash, balances w ith oth er banks, 

and cash item s in process o f collection

622,749

3,819,410

1,302,378

2,232,294

126,325

145,652

1,093,987

9,342,795

705,488

4,933,277

1,612,871

2,759,445

150,266

76,225

1,219,335

11,456,907

915,988

5,607,119

1,869,377

3,201,486

195,625

55,409

2,194,114

14,039,118

844,197

6,896,663

1,456,015

2,884,490

155,296

54,754

2,248,736

14,540,151

909,727

8,004,090

1,971,524

3,266,066

154,856

118,931

1,945,536

16,370,730

917,759

10,010,744

} 5,964,135 

178,301 

44,344 

2,239,001

19,354,284

1,067,155

11,603,504

7,138,913

180,150

24,810

1,861,058

21,875,590

983,888

13,750,656

7,387,759

152,328

16,204

1,573,048

23,863,883

1,235,272

13,991,733

8,058,760

145,641

11,750

2,847,322

26,290,478

D irect ob liga tion s o f th e U. S. G overn m en t:

Treasury bills................................................................

Treasury notes..............................................................

Bonds.......................... . . . . ...................

T otal direct ob liga tion s o f th e U nited 

States G ov ern m en t.....................................

1,450,838

3,046,894

5,210,244

9,707,976

1,104,669

4,476,099

4,889,004

10,469,772

1,270,127

5,428,167

5,816,750

12,515,044

826,756

4,637,033

6,386,378

11,850,167

318,767

3,925,676

6,915,305

11,159,748

446,009

2,925,415

8,576,596

11,948,020

570,783

2,388,084

9,194,340

12,153,207

805,453

2,698,508

9,026,826

12,530,787

662,274

2,755,793

9,926,374

13,344,441

O bligation s gu aran teed by th e U. S. G ovt:

Reconstruction Finance Corporation.....................

Home Owners’ Loan Corporation...........................

Federal Farm Mortgage Corporation.....................

Other Government corporations and agencies. . .

235,942

2295,997

61,585

246,715

21,198,549

447,451

238,076

1,444,000

575,357

221,111

1,409,116

484,318

262,725

1,440,444

493,955

168,322

2,365,446

658,870

1,616,440

550,646

264,239

863,705

1,655,205

500,651

394,712

870,416

1,589,066

498,353

412,263

863,465

1,609,547

514,791

731,662

T otal ob liga tion s gu aran teed by th e 

U nited States G ov ern m en t..................... 593,524 1,892,715 2,257,433 2,114,545 3,090,195 3,414,273 3,370,098 3,719,465

O ther secu rities:

Obligations of Government corporations and 

agencies, not guaranteed by U. S. Govt:

Federal Land banks................................................

Federal Intermediate Credit banks....................

Other Government corporations and agencies

} 273,466 / 205,925 

\ 134,422

258,191

139,687

199,937

131,772

158,164

162,856

(3)

117,293

142,030

154,146

113,964

156,702

137,062

122,726

162,749

162,300

147,565

165,452

215,457

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..................................

2,256,316

23,256

915,267

902,784

J 810,139 

| 334,236

2,558,536

21,507

1,025,574

975,497

808,747

295,610

2,758,456

19,521

1,173,943

1,176,996

945,644

297,859

2,662,173

22,057

1,203,111

1,137,234

959,041

273,068

2,660,288

19,408

1,056,801

982,014

887,791

207,938

1

| 3,141,394

942,958 

886,300 

/ 696,824 

\ 134,666

\ 216,903 

I 2,599

3,285,180

910,914

760,282

644,330

126,276

216,453

2,168

3,482,795

862,089

646,991

599,356

185,359

202,461

1,871

3,608,290

850,361

624,688

637,280

176,736

192,930

1,872

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Corporate stocks of:

Other domestic banks............................................

Other domestic corporations................................

Total other securities5........... ...........................

Total securities5...............................................

Loans, discounts, and overdrafts (including

rediscounts):

Commercial paper bought in open market...........

Notes, bills, acceptances, etc., payable in foreign

countries................................................................

Acceptances of other banks, payable in U. S .. . .

Reporting banks’ own acceptances.........................

Loans to brokers and dealers in securities:

In New York C ity...................................................

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......................................................................

Total loans, discounts, and overdrafts5 6. .

Total loans and securities5 6.......................

Bank premises, furniture and fixtures, and

other 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.....................................

Total bank premises, furniture and

fixtures, and other real estate...............

Miscellaneous 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 assets6..................................................................

Total miscellaneous assets6............................

Total assets6............................................................

145,990 

| 535,131 

6,196,585

146,382

501,800

6,674,000

130,810

510,502

7,411,609

132,238

493,220

7,213,851

133,510

484,601

6,753,371

134,942 

f 112,046 

< 36,633 

1 235,960 

6,954,694

135,546

107,655

34,616

229,211

6,860,359

136,861

108,557

32,964

213,325

6,920,404

138,539

107,840

31,983

200,429

7,099,422

16,498,085 19,036,487 22,184,086 21,178,563 20,278,565 21,992,909 22,427,839 22,821,289 24,163,328

213,727

20,559

265,222

216,690

1,116,165

213,261

555,885 

} 2,906,282 

165,095

1

1

\ 69,504,20 5

^ 7,680 

15,189,771

284,725

17,751

201,164

138,969

993,856

197,497

497,475

2,832,874

127,807

69,216,329

6,966

14,515,413

318,879

17,979

144,298

118,780

1,097,524

273,513

489,244

2,876,819

86,865

661,606

| 89,037,835 

. J

7,393

15,130,735

440,745

15,533

131,645

115,626

1,300,825

265,611

504,217

3,080,036

118,973

726,400

610,334,310

9,996

17,043,917

340,085

13,640

75,673

113,460

540,968

184,586

512,872

3,208,792

124,084

925,708

69,677,036

8,676

15,725,580

283,630

8,605

66,911

101,511

} 755,382

530,740 

/ 2,468,203 

\ 991,408 

60,216 

1,193,478 

j 5,227,799

I 828,220 

1 3,509,824 

14,446 

16,040,373

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

355,782

5,319

46,550

91,012

463,625

543,575

2,719,934

1,019,742

43,025

1,182,728

6,004,170

741,741

3,787,966

9,203

17,014,372

372,212

4,351

56,002

74,994

663,171

543,553

2,882,841

1,043,802

43,948

1,281,362

6,671,348

727,229

4,024,069

8,893

18,397,775

31,687,856 33,551,900 37,314,821 38,222,480 36,004,145 38,033,282 39,293,860 39,835,661 42,561,103

} 1,212,843 

[ 426,996

(5)

1,639,839

1,209,938

507,573|

I

(5)

1,717,511

1,194,621 

74,186 

} 499,838

(5)

1,768,645

1,172,617

63,052

474,378

(5)

1,710,047

1,153,259

53,096

456,164

(B)

1,662,519

/ 1,005,581 

[ 101,248 

46,568 

/ 198,830 

\ 206,352

104,186

54,453

1,717,218

993,696

97,418

42,045

182,692

197,445

93,884

49,519

1,656,699

985,404

95,678

38,353

155,260

176,420

92,374

44,539

1,588,028

979,937

91,483

33,376

139,318

166,873

85,103

38,065

1,534,155

254,360

36,249

| 473,411

764,020

158,934

11,842

368,289

539,065

159,267 190,745 111,499 103,674 109,891 81,104 83,640

309,751

469,018

241,135

431,880

220,369

331,868

f 110,572 

\ 10,973 

95,856 

321,075

107,291

11,620

91,575

320,377

109,398

11,289

99,817

301,608

111,579

11,021

128,049

334,289

43,434,510 47,265,383 53,591,602 54,904,558 54,369,262 59,425,859 63,146,526 65,589,180 70,720,025

ASSETS AND LIABILITIES OF OPERATING BANKS

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Table 119. A s s e t s AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL D ATES 1934-1940— Continued

(Amounts in thousands of dollars)

1934 1935 1936 1937 1938 1939 1940

June 30 June 29 June 30 June 30 June 30 June 30 Dec. 30 June 29 Dec. 31

LIABILITIES

Demand deposits (exclusive of interbank

deposits):

Individuals, partnerships, and corporations.........

United States Government.......................................

14,881,070

1,708,141

2,023,548

400,287

19,013,046

18,029,625

804,567

21,463,913

1,105,886

22,624,279

651,489

21,986,370

560,370

24,772,378

738,520

3,122,328

27,196,842

790,162

28,899,054

755,795

32,400,651

666,357

2,586,882 2,885,335 3,164,685 2,870,496 2,885,787 3,099,291 3,298,173

Certified and officers’ checks, cash letters of 

credit and travelers' checks outstanding, and

amounts due to Federal Reserve banks........

Total demand deposits......................................

445,727

21,866,801

832,437

26,287,571

802,196

27,242,649

703,876

26,121,112

837,899

29,471,125

612,776

31,485,567

521,339

33,275,479

971,452

37,336,633

Tim e deposits (exclusive of interbank

d e p o sits):

Individuals, partnerships, and corporations:

Savings deposits....................................................... 9,163,890

1,459,611

79,656

10,236,013

1,355,785

85,102

10,933,195 11,814,508 12,054,836 12,355,298 12,622,325 12,754,750 13,062,315

Certificates of deposit............................................. 1,335,166 1,243,390 1,210,896 1,167,503 1,129,346 1,128,291 1,103,788

Christmas savings and similar accounts........... 100,291 120,922 123,046 129,517 31,684 147,664 36,113

Open accounts6......................................................... 636,555 597,319 660,595 784,037 640,024 645,897 687,701 748,863 800,046

Postal savings7.............................................................. 661,327 372,479 195,840 131,602 110,192 79,527 69,240 73,811 69,110

States and political subdivisions.............................. 384,032

12,385,071

325,624 428,928 346,429 550,004 535,311 527,373 501,802 522,502

Total time deposits6........................................... 12,972,322 13,654,015 14,440,888 14,688,998 14,913,053 15,067,669 15,355,181 15,593,874

Interbank deposits:

Banks in the United States....................................... 4,270,506

164,485

5,201,586

279,638

6,232,648 5,514,043 6,318,202 7,333,723 8,760,606 9,087,992 9,830,103

Banks in foreign countries......................................... 475,065 632,375 332,429 608,853 762,507 706,739 708,993

Total interbank deposits.................................. 4,434,991 5,481,224 6,707,713 6,146,418 6,650,631 7,942,576 9,523,113 9,794,731 10,539,096

Total deposits6................................................... 35,833,108

23, SIS, 80S

12,519,805

40,320,347

27,198,282

13,122,065

46.649,299 47,829,955 47,460,741 52,326,754 56,076,349 58.425,391 63.469,603

Demand.............................................................. S2,825,7US 3S,2U0,U1 32,613,351 37,21+2,573 UO,839,329 1+2,910,829 k7,716,08k

Time6.................................................................. IS,823,556 U ,589,5U 1U,81*7,390 15,08k,181 15,237,020 15,51k,562 15,753,519

Circulating notes outstanding . . . 694,790 222,045

M iscellaneous liabilities:

Bills payable, rediscounts, and other liabilities 

for borrowed m oney........................................... 78,850

279,212

61,387

1 (8)

46,299

175,659

35,304

37,897

38,558

180,299

27,578

35,425

215,267

21,823

26,929 15,550 13,609 13,844 11,481

Acceptances executed by or for account of reporting banks and outstanding....................... 122,601 122,169 126,107 96,114 98,056

Mortgage bonds and participation certificates 

outstanding........................................................... 15,520 6,613 4,906 3,600 2,602

Dividends declared but not yet payable8.............. 45,682 46,599 44,640 37,451 40,731 38,019 41,863

Income collected but not earned............................. f 64,479 69,859 76,194 84,133

Expenses accrued and unpaid.................................. \ 242,836 214,630 351,598 359,431 306,338 86,786 76,562 91,075 86,863

Other liabilities6........................................................... 1 251,017 214,033 238,444 251,971

Total miscellaneous liabilities6..................... 662,285 509,789 643,715 678,545 516,028 584,065 545,807 557,290 576,969

Total liabilities (excluding capital

accounts)*................................................... 37,190,183 41,052,181 47,293,014 48,508,500 47,976,769 52,910,819 56,622,156 58,982,681 64,046,572

146 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
CAPITAL ACCOUNTS

C apital a ccou n ts:

Capital stock, notes, and debentures.....................

Surplus............................................................

Undivided profits6.........................................

Reserve for contingencies..........................................

All other capital accounts6........................................

T otal capital a cco u n ts ......................................

T ota l liabilities an d capital a cco u n ts6. . . .

MEMORANDA

Pledged assets and securities loan ed :

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...................................

3,319,216

1,962,163

469,837

491,126

1,985

6,244,327

3,365,309

1,892,655

529,230

418,597

7,411

6,213,202

3,212,615

2,042,072

626,823

399,333

17,745

6,298,588

3,053,970

2,225,180

701,477

382,287

33,144

6,396,058

3,018,570

2,292,137

723,885

317,722

40,179

6,392,493

2,954,886

2,381,233

799,018

322,503

57,400

6,515,040

2,914,004

2,442,853

789,340

318,432

59,741

6,524,370

2,892,233

2,483,865

836,841

332,995

60,565

6,606,499

2,872,070

2,563,293

838,132

336,776

63,182

6,673,453

43,434,510 47,265,383 53,591,602 54,904,558 54,369,262 59,425,859 63,146,526 65,589,180 70,720,025

3,922,453

1,880,591

3,101,588

1,342,620

3,438,857

1,043,355

3,114,308

979,258

2,922,595

939,260

3,130,765

936,661

192,303

35,742

4,295,471

3,240,894

964,648

185,225

€8,984

4,459,751

3,347,795

953,648

186,072

47,362

4,534,877

3,395,536

1,030,520

181,315

45,757

4,653,128

Securities loaned9..........................................

T otal 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..............

4,202,769 3,445,769 3,838,827 3,368,921 3,122,346 3,380,256

796,510 

28,760 

i 18,593 

4,224,119

3,452,532

886,246

19

3,591,185

974,707

i q ns /i

3,725,790

1,081,111

10,495

2,477

4,819,373

Borrowings secured by pledged assets9..................

Other liabilities secured by pledged assets9.......... 1 21/716 j 5*121 T ota l secured and preferred liabilities 4,373,167 4,584,097

!

1ftn 1 Excludes trust companies not engaged in deposit banking which submit reports to the FDIC (1 on June 30, 1934, and June 29, 1935; 2 on June 30, 1936, and June 30, 

1937; 3 on June o0, L>38; 2 on June 60, 1939; 3 on December 30, 1939, and June 29, 1940; and 4 on December 31, 1940); and banks for which statements are not available (42 on 

June 30, 1934; 3 on June 29, 1935; 4 on June 30, 1936; and 1 on June 30, 1938).

2 Includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.

3 Federal Home Loan Bank debentures held on June 30, 1938, are included 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.

6 Amounts of loans and securities for call dates prior to December 31, 1938, are not entirely comparable with amounts reported for subsequent call dates because “ Investments 

and other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.

6 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 164-67.

7 Includes for call dates beginning December 31, 1938, “ United States Treasurer’s time deposits, open accounts” .

8 N ot reported separately.

9 Amounts not reported for call dates prior to December 31, 1938.

Back figures— For December 31, see the Annual Report for 1938, p. 164.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 120. CLASSES OF SECURITIES HELD BY OPERATING INSURED COMMERCIAL BANKS, CALL DATES 1934-1940

T o ta l secu rities....................................................................

G overnm ental obligation s— t o ta 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 ta l............................

Railroads..........................................................................

Public utilities................................................................

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

M iscellaneous securities— t o ta 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 ob liga tion s— t o ta 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 ta l...................

Railroads.................................................................

Public utilities........................................................

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

M iscellaneous securities— to ta l. .....................

Foreign securities— public and private............

Stocks of Federal Reserve banks......................

Stocks of other domestic corporations.............

1934 1935 1936 1937 1938 1939 1940

June 30 June 29 June 30 June 30 June 30 June 30 Dec. 30 June 29 Dec. 31

13,896 14,175 14,059 13,885 13,723 13,569 13,535 13,480 13,438

(In thousands of dollars)

16,498,085 19,036,487 22,184,086 21,178,563 20,278,565 21,992,909 22,427,839 22,821,289 24,163,328

12,854,538

10,301,500

273,466

2,279,572

15,282,877

12,362,487

340,347

2,580,043

17,948,332

14,772,477

397,878

2,777,977

16,980,651

13,964,712

331,709

2,684,230

16,525,910

13,525,194

321,020

2,679,696

18,593,078

15,038,215

413,469

3,141,394

19,260,388

15,567,480

407,728

3,285,180

19,831,455

15,900,885

447,775

3,482,795

21,200,670

17,063,906

528,474

3,608,290

2,628,190

915,267

902,784

810,139

2,809,818

1,025,574

975,497

808,747

3,296,583

1,173,943

1,176,996

945,644

3,299,386

1,203,111

1,137,234

959,041

2,926,606

1,056,801

982,014

887,791

2,660,748

942,958

886,300

831,490

2,441,802

910,914

760,282

770,606

2,293,795

862,089

646,991

784,715

2,289,065

850,361

624,688

814,016

1,015,357

334,236

145,990

535,131

943,792

295,610

146,382

501,800

939,171

297,859

130,810

510,502

898,526

273,068

132,238

493,220

826,049

207,938

133,510

484,601

739,083

219,502

134,942

384,639

725,649

218,621

135,546

371,482

696,039

204,332

136,861

354,846

673,593

194,802

138,539

340,252

(As percentage of total assets)

38.0

29.6

23.7

.6

5.3

6.1

2.1

2.1

1.9

2.3

.8

.3

1.2

40.3 41.4 38.6 37.3 37.0 35.5 34.8

32.3 33.5 30.9 30.4 31.3 30.5 30.2

26.2 27.6 25.4 24.9 25.3 24.7 24.2

.7 .7 .6 .6 .7 .6 .7

5.4 5.2 4.9 4.9 5.3 5.2 5.3

6.0 6.2 6.0 5.4 4.5 3.9 3.5

2.2 2.2 2.2 2.0 1.6 1.5 1.3

2.1 2.2 2.1 1.8 1.5 1.2 1.0

1.7 1.8 1.7 1.6 1.4 1.2 1.2

2.0 1.7 1.7 1.5 1.2 1.1 1.1

.6 .6 .5 .4 .4 .3 .3

.3 .2 .3 .2 .2 .2 .2

1.1 .9 .9 .9 .6 .6 .6

34.2

30.0

24.1

.8

5.1

3.2

1.2

.9

1.1

1.0

.3

.2

.5

148 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(As percentage of total loans and securities)

T otal secu rities..........................................................

G overn m en tal ob liga tion s— to ta l.................

U. S. Government, direct and guaranteed. . 

U. S. Government agencies, not guaranteed 

States and political subdivisions.....................

D om estic corporate b on d s— to ta l.................

Railroads...............................................................

Public utilities......................................................

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

M iscellaneous securities— t o ta l.....................

Foreign securities— public and private.........

Stocks of Federal Reserve banks....................

Stocks of other domestic corporations...........

T otal secu rities.........................................................

G overnm ental obligation s— t o ta l.................

U. S. Government, direct and guaranteed. . 

TJ. S. Government agencies, not guaranteed 

States and political subdivisions.....................

D om estic corporate b on d s— t o ta l.................

Railroads...............................................................

Public utilities......................................................

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

M iscellaneous securities— t o ta l.....................

Foreign securities— public and private.........

Stocks of Federal Reserve banks....................

Stocks of other domestic corporations...........

T otal secu rities.........................................................

G overnm ental obligation s— t o ta l.................

U. S. Government, direct and guaranteed. . 

U. S. Government agencies, not guaranteed 

States and political subdivisions.....................

D om estic corporate bon d s— to ta l.................

Railroads................................................................

Public utilities......................................................

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

M iscellaneou s securities— t o ta l.....................

Foreign securities— public and private.........

Stocks of Federal Reserve banks....................

Stocks of other domestic corporations...........

52.1 56.7 59.5 55.4 56.3 57.8 57.1 57.3 56.8

40.6 45.5 48.1 44.4 45.9 48.9 49.0 49.8 49.8

3 2 . 5 3 6 . 8 3 9 . 6 3 6 . 5 3 7 . 6 3 9 . 5 3 9 . 6 3 9 .9 4 0 . 1

.9 1 .0 1 .1 .9 .9 1 .1 1 .0 1 .1 1 .2

7 . 2 7 . 7 7 . 4 7 . 0 7 . 4 8 . 3 8 . 4

0°

00

8 . 5

8.3 8.4 8.9 8.6 8.1 7.0 6.2 5.8 5.4

2 . 9 3 .1 3 . 2 3 .1 2 . 9 2 . 5 2 . 3 2 . 2 2 . 0

2 . 8 2 . 9 3 . 2 3 . 0 2 . 7 2 . 3 1 .9 1 .6 1 .5

2 . 6 2 . 4 2 . 5 2 . 5 2 . 5 2 . 2 2 . 0 2 . 0 1 .9

3.2 2.8 2.5 2.4 2.3 1.9 1.9 1.7 1.6

1 . 0 .9 .8 .7 .6 .6 .6 .5 .5

.5 .4 .3 .4 .4 .3 .3 .3 .3

1 . 7 1 . 5 1 .4 1 . 3 1 . 3 1 .0 1 . 0 .9 .8

(As percentage of total securities)

(As percentage of amount held on June 30, 1934)

100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

77.9 80.3 80.9 80.2 81.5 84.5 85.9 86.9 87.7

6 2 . 4 6 4 . 9 6 6 . 6 6 5 . 9 6 6 . 7 6 8 . 4 6 9 . 4 6 9 . 7 7 0 .6

1 .7 1 .8 1 .8 1 .6 1 .6 1 .9 1 .8 2 . 0 2 . 2

1 3 .8 1 3 .6 1 2 .5 1 2 . 7 1 3 . 2 1 4 . 2 1 4 . 7 1 5 .2 1 4 .9

15.9 1 4 .8 14.9 15.6 14.4 12.1 10.9 10.0 9.5

5 . 5 5 .4 5 .3 5 . 7 5 . 2 4 . 3 4 . 1 3 . 8 3 .5

5 .5 5 .1 5 . 3 5 . 4 4 . 8 4 . 0 3 . 4 2 . 8 2 . 6

4 . 9 4 . 3 4 . 3 4 . 5 4 . 4 3 . 8 3 . 4 3 . 4 3 . 4

6.2 4.9 4.2 4.2 4.1 3.4 3.2 3.1 2.8

2 . 0 1 .5 1 . 3 1 .3 1 . 0 1 .0 1 . 0 .9 .8

.9 .8 .6 .6 .7 .6 .6 .6 .6

3 . 3 2 . 6 2 . 3 2 . 3 2 . 4 1 . 8 1 .6 1 .6 1 .4

100.0 115.4 134.5 128.4 122.9 133.3 135.9 138.3 146.5

100.0 118.9 139.6 132.1 128.6 144.6 149.8 154.3 164.9

1 0 0 .0 1 2 0 .0 1 4 3 .4 1 3 5 . 6 1 3 1 . 3 1 4 6 . 0 1 5 1 .1 1 5 4 .4 1 6 5 .6

1 0 0 .0 1 2 4 . 5 1 4 5 . 5 1 2 1 . 3 1 1 7 . 4 1 5 1 . 2 1 4 9 .1 1 6 3 .7 1 9 3 .3

1 0 0 .0 1 1 3 .2 1 2 1 .9 1 1 7 . 8 1 1 7 . 6 1 3 7 . 8 1 4 4 .1 1 5 2 .8 1 5 8 .3

100.0 106.9 125.4 125.5 111.4 101.2 92.9 87.3 87.1

1 0 0 .0 1 1 2 .1 1 2 8 . 3 1 3 1 . 4 1 1 5 . 5 1 0 3 . 0 9 9 . 5 9 4 . 2 9 2 .9

1 0 0 .0 1 0 8 .1 1 3 0 .4 1 2 6 . 0 1 0 8 . 8 9 8 . 2 8 4 . 2 7 1 . 7 6 9 .2

1 0 0 .0 9 9 . 8 1 1 6 . 7 1 1 8 . 4 1 0 9 . 6 1 0 2 . 6 9 5 . 1 9 6 . 9 1 0 0 .5

100.0 93.0 92.5 88.5 81.4 72.8 71.5 68.6 66.3

1 0 0 .0 8 8 . 4 8 9 .1 8 1 . 7 6 2 . 2 6 5 . 7 6 5 . 4 6 1 .1 5 8 .3

1 0 0 . 0 1 0 0 . 3 8 9 . 6 9 0 . 6 9 1 . 5 9 2 . 4 9 2 . 8 9 3 . 7 9 4 .9

1 0 0 .0 9 3 . 8 9 5 . 4 9 2 . 2 9 0 . 6 7 1 . 9 6 9 . 4 6 6 . 3 6 3 .6

CO

N o t e : See footnotes 1 to 5 , Table 1 1 9 .

Back figures-— For December 3 1 , see the Annual Report for 1 9 3 8 , p. 1 6 8 .

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 121. ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS NOT M EM BERS OF THE FEDERAL RESERVE SYSTEM,

C a l l D a t e s 1934-1940

(Amounts in thousands of dollars)

1934

June 30

1935

June 29 June 30

1937

June 30

1938

June 30

1939

June 30 Dec. 30

1940

June 29 Dec. 31

Or

O

Number of banks1. 7,765 7,659 7,528 7,385 7,239 7,173 7,082 6,952

ASSETS

Cash, balances w ith oth er banks, and cash item s in 

process of co lle ctio n :

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......................................

T otal cash, balances w ith other banks, and cash 

item s in process of co lle c tio n .................................

150,106

185,723

682,672

32,316

4,972

37,208

1,092,997

168,478

233,015

853,898

39,566

4,981

35,962

1,335,900

202,567

261,386

1,016,739

44,851

3,711

46,621

1,575,875

214,892

254,501

985,833

48,493

2,777

47,907

1,554,403

197,697

290,877

973,918

43,980

2,695

46,165

1,555,332

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

195,197

1,743,497

45,230

585

49,978

2,034,487

D irect obligations of the U. S. G overn m en t:

Treasury bills........................................................................

Treasury notes......................................................................

Bonds......................................................................................

T otal direct obligation s of th e U nited States 

C ov ern m en t................................................................

23,495

175,996

371,801

571,292

5,414

162,194

431,038

598,646

4,186

267,482

521,901

793,569

6,141

276,416

697,206

979,763

2,614

272,371

669,756

944,741

4,862

205,848

791,068

1,001,778

8,046

164,807

796,159

969,012

8,472

155,842

766,296

930,610

O bligation s guaranteed by the U. S. G ov t:

Reconstruction Finance Corporation..............................

Home Owners’ Loan Corporation....................................

Federal Farm Mortgage Corporation.............................

Other Government corporations and agencies.............

T otal obligation s guaran teed by th e U nited 

States G ov ern m en t.................................................

922

263,498

20,461

2,991 

2209,7 50 

114,204

1,994

188,016

116,966

1,509

196,413

98,093

84,881 326,945 306,976 296,015

1,904

149,170

73,790

12,618

237,482

16,836

158,296

63,636

20,608

259,376

30,015

154,692

56,202

29,404

270,313

31,326

132,157

53,336

31,851

248,670

O ther 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.........

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..........................................

/ 43,456 

\ 1,055

49,828

2,686

38,099

4,236

424,258

4,527

179,659

191,183

167,071

57,369

457,024

4,708

200,516

210,820

168,226

49,525

494,189

3,911

225,605

250,841

195,999

47,522

529,514

4,677

246,170

266,501

44,920

28,749

3,830

(3)

531,918

4,324

224,241

219,223

189,015

30,246

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

21,380

2,533

9,711

594,970

168,761

133,238

102,774

30,376

29,511

351

244,126

1,974,336

44,760

439

63,362

2,327,023

10,288

161,524

835,221.

1,007,033

22,890

119,197

51,663

40,077

233,827

18,394

1,038

9,687

595,597

148,698

124,768

97,578

28,962

28,147

378

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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, discou n ts, and overdrafts (in clu d in g redis 

c o u 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...............................................................................

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, discou n ts, and overdrafts5 6...............

T otal loans and securities5 6....................................

Bank prem ises, fu rn itu re and fixtures, and other 

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 otal bank prem ises, fu rn itu re and fixtures, 

and oth er real esta te..................................................

M iscellaneous assets:

Customers’ liability to reporting banks on acceptances

outstanding.............................................................

Income accrued but not collected.............................

Prepaid expenses............................................................

Other assets6....................................................................

T ota l m iscellan eou s assets6...............................

T otal assets6.........................................................

1

}• 131,174

J

1,190,053

118,914

1,254,244

95,995

1,366,576

92,161

1,449,099

81,887

1,313,433

f 8,503 

14,464 

[ 49,406 

1,269,404

7,586

14,247

47,433

1,209,826

8,050

13,752

44,365

1,159,772

8,181

13,119

42,452

1,116,999

1,846,226 2,179,835 2,467,121 2,724,877 2,495,656 2,530,558 2,449,151 2,339,052 2,357,859

18,723 37,621 40,932 63,816 46,897 39,007 39,754 47,156 50,739

357

1,482

6,532

459

537

3,751

284

231

1,589

385

947

2,379

323

2,275

1,360

41

385

1,165

19

221

1,716

58

144

1,573

60

127

576

34,538

5,723

19,224

5,688

18,629

7,191

22,585

7,819

17,494

6,616 } 24,608 26,710 16,722 20,723

267,405 

} 838,062 

12,029

|61,479,761

2,179

2,666,791

238,946

814,066

8,753

n,456,247

2,155

2,587,447

233,088

792,797

6,173

240,992

229,765

j6l,015,479

1,740

2,588,890

239,712

839,170

4,323

266,654

268,971

61,040,801

1,480

2,759,042

240,146

868,952

3,727

332,867

271,353

6994,457

1,513

2,787,980

246,564 

J 692,603 

1 222,938 

1,919 

405,027 

445,057

/ 92,167 

\ 725,369 

1,455 

2,899,305

245,577

713,446

221,702

364,860

448,936

93,265

745,737

1,301

2,904,201

247,922

741,605

225,159

1,148

448,284

464,173

74,066

776,122

1,470

3,045,602

244.365

764.366 

233,458

842

416,271

467,833

75,108

801,419

1,290

3,077,177

4,513,017 4,767,282 5,056,011 5,483,919 5,283,636 5,429,863 5,353,352 5,384,654 5,435,036

} 215,026 

[ 140,648

211,293

168,487

197,372 

f 36,029 

)} 145,735

190,506

32,949

141,323

183,509

27,097

141,213

/ 149,853 

1 23,273 

23,011 

/ 72,569 

j 50,695

144,834

22,007

20,210

66,557

47,706

142,795

21,388

17,905

59,273

46,474

137,319

19,676

14,930

53,090

43,304

| (5) (5) 15,131 11,180 6,903 J 7,498 

1 4,231

7,887

4,742

7,834

4,109

7,272

4,750

355,674 379,780 394,267 375,958 358,722 331,130 313,943 299,778 280,341

1,444 

| 88,487 

89,931

1,183

62,636

63,819

2,313

39,489

41,802

3,602

34,375

37,977

2,416

25,584

28,000

2,002 

f 7,977 

1,915 

( 13,647 

25,541

2,348

7,132

1,309

14,157

24,946

1,913

6,957

1,909

13,136

23,915

588

6,553

1,439

11,367

19,947

6,051,619 6,546,781 7,067,955 7,452,257 7,225,690 7,517,730 7,785,577 7,742,834 8,062,347

ASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars)

Table 121. ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM,

C a ll D a te s 1934-1940— Continued

1934 1935 1936 1937 1938 1939 1940

June 30 June 29 June 30 June 30 June 30 June 30 Dec. 30 June 29 Dec. 31

LIABILITIES

Demand deposits (exclusive of interbank deposits):

Individuals, partnerships, and corporations..................... 1,532,346

50,348

1,823,382

25,851

2,141,915

69,311

2,351,847

23,364

2,170,174

17,518

2,324,209

44,519

2,592,860

47,596

2,502,454

44,950

2,824,587

50,239

425,678 496,274 564,882 587,240 556,823 590,758 564,453 570,498 574,513

Certified and officers’ checks, cash letters of credit and 

travelers’ checks outstanding, and amounts due to 

Federal Reserve banks.................................................... 28,621 29,116 43,300 50,582 41,633 47,746 49,488 46,298 58,154

Total demand deposits................................................... 2,036,993 2,374,623 2,819,408 3,013,033 2,786,148 3,007,232 3,254,397 3,164,200 3,507,493

Tim e deposits (exclusive of interbank deposits):

Individuals, partnerships, and corporations:

Savings deposits............................................................. .. 1,995,651 2,250,367 2,367,563 2,569,941 2,596,793 2,693,270 2,739,212 2,769,427 2,796,166

Certificates of deposit.......................................................... 514,433 487,005 491,911 485,772 466,681 458,269 452,817 457,410 448,847

Christmas savings and similar accounts........................ 20,207 20,369 22,996 29,329 29,765 31,395 7,250 34,422 8,260

Open accounts8...................................................................... 46,183 54,712 47,582 59,933 61,580 52,052 56,668 59,328 62,181

Postal savings............................................................................ 76,300 65,876 43,606 31,866 27,333 20,392 17,910 15,200 13,123

States and political subdivisions........................................... 51,358 40,548 50,930 54,149 96,126 94,111 95,200 91,753 87,427

Total time deposits6........................................................ 2,704,132 2,918,877 3,024,588 3,230,990 3,278,278 3,349,489 3,369,057 3,427,540 3,416,004

Interbank deposits:

Banks in the United States.................................................... 78,109 87,410 95,514 92,812 86,667 95,161 109,024 101,190 113,678

Banks in foreign countries..................................................... 1,507 1,310 4,225 3,074 1,330 1,618 3,719 3,341 2,818

Total interbank deposits............................................... 79,616 88,720 99,739 95,886 87,997 96,779 112,743 104,531 116,496

Total deposits®................................................................ 4,820,741 5,382,220 5,943,735 6,339,909 6,152,423 6,453,500 6,736,197 6,696,271 7,039,993

Demand.......................................................................... 2,112,589 2,454,499 2,907,052 3,097,513 2,861,090 3,088,634 3,351,514 3,251,431 3,605,672

2,708,152 2,927,721 3,036,683 3,242,396 3,291,333 3,364,866 3,384,683 3,444,840 3,434,321

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for 

borrowed m oney............................................................... 38,696 30,023 18,706 17,991 15,115 10,888 10,368 10,421 8,199

Acceptances executed by or for account of reporting 

banks and outstanding................................................... 1,214 1,090 2,078 3,468 2,441 2,005 2,352 1,919 595

Mortgage bonds and participation certificates outstanding ..................................................................... 12,450 7,729 6,801 4,854 3,366 2,743 2,187 1,847 1,445

Dividends declared but not yet payable............................ (7)

)

1,621 1,683 2,500 1,631 1,619 2,763 1,741 2,910

Income collected but not earned.......................................... f 12,599 13,549 15,091 16,467

Expenses accrued and unpaid............................................... 39,115 24,522 31,731 26,272 25,770 8,335 7,872 8,938 8,917

Other liabilities6 ..................................................................... 7,227 7,678 7,859 7,884

Total miscellaneous liabilities6................................... 91,475 64,985 60,999 55,085 48,323 45,416 46,769 47,816 46,417

Total liabilities (excluding capital accounts)6. . 4,912,216 5,447,205 6,004,734 6,394,994 6,200,746 6,498,916 6,782,966 6,744,087 7,086,410

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 profits8....................................................................

Reserve for contingencies.......................................................

All other capital accounts6.....................................................

Total capital accounts...................................................

Total liabilities and capital accounts6...................

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...................

667,034

271,603

82,625

116,869

1,272

1,139,403

6,051,619

182,483

370,742

378,632

681,990

245,631

93,085

75,069

3,801

1,099,576

6,546,781

225,203

256,788

362,174

645,418

235,556

107,572

68,023

6,652

1,063,221

7,067,955

265,258

199,182

37,473

293

502,206

406,005

60,505

20,221

16,551

503,282

609,721

253,716

118,415

62,639

12,772

1,057,263

7,452,257

255,421

190,697

27,862

65

474,045

374,035

66,790

16,552

9,710

467,087

589,164

257,064

113,420

49,508

15,788

1,024,944

7,225,690

262,602

202,566

19,469

269

484,906

372,616

75,700

14,226

2,412

464,954

564,863

269,664

120,985

45,816

17,486

1,018,814

7,517,730

296,603

210,302

21,185

92

528,182

420,019

73,258

10,037

3,271

506,585

550,775

276,461

114,606

41,819

18,950

1,002,611

7,785,577

277,637

207,586

21,657

637

507,517

395,945

88,457

9,985

2,019

496,406

534,940

276,557

125,556

43,395

18,299

998,747

7,742,834

268,574

206,144

22,474

4,234

501,426

386,481

78,680

10,000

1,247

476,408

515,812

283.672

116,688

40,937

18,828

975,937

8,062,347

275,018

194,484

20,852

431

490,785

387,386

83,344

7,819

750

479,299

i n o * Excludes trust companies not engaged in deposit banking which submit reports to the FDIC (l on June 30, 1934, and June 29, 1935; 2 on June 30, 1936, and June 30, 

1937, 3 on June 30, 1938; 2 on June 30, 1939; 3 on December 30, 1939, and June 29, 1940; and 4 on December 31, 1940); and banks for which statements are not available (42 

on June 30, 1934; 3 on June 29, 1935; 4 on June 30, 1936; and 1 on June 30, 1938).

2 Includes Home Owners' Loan Corporation 4 percent bonds guaranteed as to interest only.

a Federal Home Loan Bank debentures held on June 30, 1938, are included with “ Obligations of other domestic corporations” .

* 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.

Amounts ol loans and securities for call dates prior to June 30, 1936, are not entirely comparable with amounts reported for subsequent call dates because “ Investments 

and other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.

6 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 170-73.

7 N ot reported separately.

8 Amounts not reported for call dates prior to June 30, 1936.

Back figures— For December 31, see the Annual Report for 1938, p. 170.

o r

COASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
Table 122. ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS SUBMITTING REPORTS TO THE

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 i o n , D e c e m b e r 31, 1940

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

All

banks

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! __ +-0 | More than

$50,000,000 $50,000,000

Number of banks1......................................... 6,942 281 1,672 2,044 1,497 845 445 90 62 6

ASSETS

C ash, balances \^ith oth er banks, and cash 

item s in process o f c o lle c tio n :

Currency and coin.................................................

Balances with banks.............................................

Cash items in process of collection...................

T otal cash, balances w ith oth er banks, 

and cash item s in process o f c o llection ............................................................

242,516

2,010,462

61,888

2,314,866

1,141

8,529

71

9,741

11,523

98,713

709

110,945

25,282

237,071

1,803

264,156

(In thousa:

36,958

319,410

4,393

360,761

nds of dollars

44,047

356,637

7,756

408,440

)

48,993

369,956

13,355

432,304

23,461

188,124

9,088

220,673

38,197

318,570

19,252

376,019

12,914

113,452

5,461

131,827

Secu rities:

Direct obligations of the U. S. Governm ent.. 

Obligations guaranteed by the U. S. Government .................................................................

Obligations of States and political subdivisions ..........................................................

Other securities......................................................

T otal secu rities...............................................

1,003,244

232,691

595,393

519,184

2,350,512

2,071

389

1,312

335

4,107

34,703

6,068

20,783

9,768

71,322

79,406

18,147

59,182

34,324

191,059

102,923

30,033

97,944

63,298

294,198

120,566

41,059

105,976

93,747

361,348

156,072

45,153

107,727

129,080

438,032

86,208

26,539

49,472

54,225

216,444

240,532

45,282

100,588

107,661

494,063

180,763

20,021

52,409

26,746

279,939

Loans, d iscou n ts, and overdrafts (in clu d ­

ing red iscou n ts):

Commercial and industrial loans......................

Agricultural loans (excluding loans on farm

lan d).................................................................

Commercial paper bought in open m arket. . . 

Notes, bills, acceptances, etc., payable in

465,541

416,264

50,724

60

127

576

20,681

74,982

244,243

758,846

232,630

842

793,443

1,289

3,060,248

1,543

6,618

21

16,822

70,451

657

14

10

12

28

571

23,664

13,612

3,775

89

36,016

144

165,865

42,323

126,152

2,349

11

3

191

49

1,959

56,548

46,472

11,194

184

83,192

239

370,866

72,648

113,654

5,288

28

89,578

67,524

7,407

116,992

26,171

16,273

7

48,225

4,101

6,032

69,195

1,593

11,697

8,215

1,000

Acceptances of other banks, payable in the 

TTmi pH 24

77

600

9,866

49,226

134,315

34,044

82

146,182

188

539,113

73

27

2,743

11,165

5,656

69,922

22,962

67

50,245

98

221,316

17

238

6,758

21,604

7,132

126,949

47,036

37

172,442

152

464,850

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..........................................

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

All other loans........................................................

Overdrafts...............................................................

T otal loans, discounts, and overdrafts

T otal loans and secu rities.....................

2

3

26

1,731

776

279

2,753

26

13,778

29

247

5,743

71,196

94,678

21,964

236

125,173

250

511,134

1,522

18,683

27,151

181,228

47,132

147

153,945

163

589,414

8,731

5,365

1,939

90,894

44,244

23,495

29

183,912

5,410,760 17,885 237,187 561,925 805,332 900,461 1,027,446 437,760 958,913 463,851

154 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
M iscellaneou s 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........................................................

156,371

111,285

9,752

588

626

342

8

5,936

2,442

64

12,937

5,438

401

19,094

9,140

815

25,258

14,187

1 194

31,904

25,841

2,528

45

760

1 ftA

14,920

12,468

1,594

104

760

fiQ

39,107

36,405

3,038

412

3,069 QAQ

6,589

5,022

110 Customers’ liability on acceptances................. * 19 0

464 

96 

1,210 

42,428

Income accrued but not collected..................... 6,491

1,432

11,364

297,283

1 27

7

115

17

697

19,605

353

44

1,051

30,497

942

192

325

13,188

Prepaid expenses.................................................... 1

Other miscellaneous assets.................................. 81

1,059

221

8,697

io4

1,883

63,145

OO

1,185

31,119

0U0

4,711

87,545 T ota l m iscellan eou s a ssets........................

T o ta l a ssets ...................................................... 8,022,909 28,685 356,829 845,686 1,196,590 1,351,329 1,522,895 689,552 1,422,477 608,866

LIABILITIES

D eposits:

Individuals, partnerships, and corporations: 

Dem and............................................................... 2,809,844

3,299,238

661,486

49,946

13,026

13,393

5,381

2,251

28

160,639

97,444

33,793

343

839

356,657

283,244

80,448

962

2,054

3,890

4,917

732,172

1+37,607

291+,565

463,011 489,399 COC QQQ 255,479

271,826

47,624

5,323

738

14,596

6,740

An'y

AOQ QQrr 104,881

347,468

53,765

19,389

T im e.................................................... 0^0 ,v/00

669,807

100,605

5,800

1,498

17,210

11 791

4oy ,Oi7 I

605,589

128,489

12,668

1,693 QQ fiQ9

States and political subdivisions.......................

*tOD

104,563

2,068

3,505

7,923

7 041

DO-L ,DOO

109,948

3,365

2,659

10,999

9 144

United States Government.................................

Postal savings......................................................... 40

Other banks................................................. 116,132

57,908

7,007,580

8,589,753

3 ,J+1 7,827

264 2,007

1,600

296,665

191+,036

102,629

21,151

5,791

552,445

190,367

362,078

Certified and officers’ checks, cash letters 

of credit and travelers’ checks outstanding, etc................................................. 77

21,434

15,669

5,765

oo,uy^

10,807 T otal d ep osits............................................... 1,044,’957 1,187447 Demand 608. 698 ..........................................

ljOOi)tU77

/ 1 979 320,332

I,ZOO,/OD

610,772

625,963 Tim e................................................

571,000

/ O jifO / o < a ,4-4*' AQ9 f 97 V%74C f 281,991+

M iscellaneous liabilities:

Bills payable, rediscounts, and other liabilities 

for borrowed m oney..................................... 8,199 45 191 578 171 250

19

481

2,363

1,014

707

631

5,465

138

45

430

3,902

1,719

172

1,273

7,679

1 6,825

418

467

5,762

3,379

489

3,151

20,491

Acceptances outstanding..................................... 595 105

275

682

1,067

32

1,227

3,389

0

Dividends declared but not yet payable.........

Income collected but not earned......................

2,870

16,273

8,790

1,445

7,829

46,001

18

9

194

227

402

884

324

448

1,620

705

45

474

3,463

155 Q.OA

Expenses accrued and unpaid............................

Mortgage bonds and participation certificates 

outstanding.....................................................

12 107

OZ4:

463

Other miscellaneous liabilities............................ 9 99 325

2,513

RA A

T ota l m iscellan eou s lia b ilitie s ................ 93 818

04U

2,090

T ota l liabilities (exclu din g capital 

a c c o u n ts ).................................................. 7,053,581 21,527 297,483 734,685 1,048,420 1,192,612 1 ^41 ^78 1 jOtI ,0 / 0 DUO, / ID 1,257,226 554,535

CAPITAL ACCOUNTS

C apital a cco u n ts :

Capital stock, notes, and debentures.............. 512,302

281,657

116,136

40,545

18,688

969,328

5,121

1,312

551

80

38,660

12,427

6,222

969

66,979

26,651

13,236

2,368

1,767

111,001

83,400

39,477

17,982

4,674

2,637

148,170

88,238 

41 653

94,833 42,381

26,394

9,446

A 991

75,365

56,923

20,696

10,441

1,826

165,251

17,325 Surplus.............................................................

Undivided profits................................................. 19 937

ox ,*±ou 

9Q A(\7

25,370

4,659

4,274 Reserve for contingencies.................................... 5*420

3,469

158,717

LiO ,^U |

8,098 All other capital accounts................................... 94 1,068 3 729

59,346

1

T otal capital a cco u n ts ................................ 7,158 181,’ 517

x ,oyo <UO

00,00/ 54,331

T otal liabilities and capital a c c o u n t s .. 8,022,909 28,685 356,829 845,686 1,196,590 1,351,329 1,522,895 689,552 1,422,477 608,866

^ A ? ai?ks reporting to FD IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in 

the District of Columbia. Statements of 4 trust companies not engaged in deposit banking are excluded.

Back figures— See the following Annual Reports: 1939, p. 138; 1938, p. 174; 1937, p. 116; 1936, p. 142; 1935, p. 176; 1934, p. 198.

ASSETS AND LIABILITIES OF OPERATING BANKS 155

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Federal Reserve Bank of St. Louis
Table 123. AVERAGES PER BANK OF ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS SUBMITTING REPORTS TO THE

F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n , D e c e m b e r 31, 1940

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Number of banks2..................................

ASSETS

C ash, balances w ith oth er ban ks, an d 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 with oth er ban k sv 

and cash item s in process o f c o llection ..........................................................

S ecurities:

Direct obligations of the U. S. Government. 

Obligations guaranteed by the U .S . Government ...............................................................

Obligations of States and political subdivisions ....................................................

Other securities...............................................

T otal secu rities........................................

L oans, d iscou n ts, and overdrafts (in clu d ­

ing, red 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....................................

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

All other loans.................................................

Overdrafts.........................................................

T o ta l loans, d iscou n ts, and overdrafts

T otal loans an d secu rities ..............

All

banks

6 , 9 4 2

$ 3 4 , 9 3 5

2 8 9 , 6 0 8

8 , 9 1 5

333,458

$ 1 4 4 , 5 1 8

3 3 , 5 1 9

8 5 , 7 6 7

7 4 , 7 8 9

3 3 8 , 5 9 3

$ 6 7 , 0 6 2

5 9 , 9 6 3

7 , 3 0 7

1 8

8 3

2 , 9 7 9

1 0 , 8 0 1

3 5 , 1 8 3

1 0 9 , 3 1 2

3 3 , 5 1 1

121

1 1 4 , 2 9 6

1 8 6

440,831

$779,424

Banks with deposits of-

$100,000

or

less

2 8 1

$ 4 ,0 6 0

3 0 , 3 5 2

2 5 3

34,665

$ 7 , 3 7 0

1 ,3 8 4

4 , 6 6 9

1 ,1 9 3

14,616

$ 5 ,4 9 1

2 3 , 5 5 2

75

6 , 1 6 0

2 , 7 6 2

9 9 3

9 , 7 9 7

9 2

49,032

$63,648

$100,000

to

$ 2 5 0 ,0 0 0

1 ,6 7 2

$ 6 ,8 9 1

5 9 ,0 3 9

4 2 4

66,354

$ 2 0 ,7 5 6

3 ,6 2 9

1 2 ,4 3 0

5 ,8 4 1

42,656

$ 1 0 ,0 6 1

4 2 , 1 3 6

3 9 3

6

7

1 7

3 4 2

1 4 ,1 5 3

8 ,1 4 1

2 , 2 5 8

5 3

2 1 ,5 4 1

86

99,202

$141,858

$ 2 5 0 ,0 0 0

to

$ 5 0 0 ,0 0 0

2 , 0 4 4

$ 1 2 ,3 6 8

1 1 5 ,9 8 4

8 8 3

129,235

8 , 8 7 8

2 8 , 9 5 4

1 6 ,7 9 2

93,472

$ 2 0 ,7 0 6

6 1 , 7 1 8

1 ,1 4 9

1

9 4

2 4

9 5 8

2 7 , 6 6 5

2 2 , 7 3 6

5 , 4 7 7

9 0

4 0 ,7 0 1

1 1 7

181,441

$274,913

$ 5 0 0 , 0 0 0

to

$1,000,000

1 , 4 9 7

$ 2 4 ,6 8 8

2 1 3 , 3 6 6

2 , 9 3 5

240,989

$ 6 8 , 7 5 3

2 0 , 0 6 2

6 5 , 4 2 7

4 2 , 2 8 3

196,525

$ 4 8 , 5 2 9

7 5 ,9 2 1

3 , 5 3 2

1 9

1 9

1 6 5

3 , 8 3 7

4 7 , 5 5 9

6 3 , 2 4 5

1 4 ,6 7 2

1 5 8

8 3 , 6 1 6

1 6 7

341,439

$537,964

$1,000,000

to

$2 ,000,000

8 4 5

$ 5 2 , 1 2 6

4 2 2 , 0 5 6

9 , 1 7 8

483,360

$ 1 4 2 ,6 8 1

4 8 , 5 9 1

1 2 ^ , 4 1 5

1 1 0 , 9 4 3

427,630

$ 1 0 6 ,0 0 9

7 9 , 9 1 0

8 , 7 6 6

2 8

9 1

7 1 0

1 1 ,6 7 6

5 8 ,2 5 6

1 5 8 ,9 5 2

4 0 , 2 8 9

9 7

1 7 2 ,9 9 6

2 2 3

638,003

$1,065,633

$2,000,000

to

$ 5 ,0 0 0 , 0 0 0

4 4 5

$110,097

8 3 1 , 3 6 1

3 0 , 0 1 1

971,469

$ 3 5 0 , 7 2 4

1 0 1 , 4 6 7

2 4 2 , 0 8 3

2 9 0 , 0 6 8

984,342

$ 2 6 2 , 9 0 3

5 8 ,8 1 1

3 6 , 5 6 9

1 6

3 , 4 2 0

4 1 , 9 8 4

6 1 , 0 1 3

4 0 7 , 2 5 4

1 0 5 , 9 1 5

3 3 0

3 4 5 , 9 4 4

3 6 6

1,324,525

$2,308,867

$ 5 , 0 0 0 , 0 0 0

to

$10,000,000

9 0

$ 2 6 0 , 6 7 8

2 , 0 9 0 , 2 6 7

1 0 0 , 9 7 7

2,451,922

$ 9 5 7 , 8 6 7

2 9 4 , 8 7 7

5 4 9 , 6 8 9

6 0 2 ,5 0 0

2,404,933

$ 5 3 5 , 8 3 3

4 5 , 5 6 7

6 7 , 0 2 2

8 1 1

3 0 0

3 0 , 4 7 8

1 2 4 , 0 5 6

6 2 , 8 4 4

7 7 6 ,9 1 1

2 5 5 , 1 3 3

7 4 4

5 5 8 , 2 7 9

1 ,0 8 9

2,459,067

$10,000,000

to

$ 5 0 , 0 0 0 , 0 0 0

6 2

$ 6 1 6 ,0 8 1

5 ,1 3 8 , 2 2 6

3 1 0 , 5 1 6

6,064,823

$ 3 , 8 7 9 , 5 4 8

7 3 0 , 3 5 5

1 , 6 2 2 , 3 8 7

1 , 7 3 6 , 4 6 8

7,968,758

$ 1 , 1 1 6 , 0 4 8

2 5 , 6 9 4

1 8 8 ,6 6 1

2 7 4

3 , 8 3 9

1 0 9 ,0 0 0

3 4 8 , 4 5 2

1 1 5 ,0 3 2

2 , 0 4 7 , 5 6 5

7 5 8 , 6 4 5

5 9 7

2 , 7 8 1 , 3 2 2

2 , 4 5 2

7,497,581

$4,864,000 $15,466,339

More than

$ 5 0 , 0 0 0 , 0 0 0

C1)

$ 2 ,1 5 2 , 3 3 3

1 8 , 9 0 8 , 6 6 7

9 1 0 , 1 6 7

21,971,167

$ 3 0 , 1 2 7 , 1 6 7

3 . 3 3 6 . 8 3 3

8 . 7 3 4 . 8 3 3

4 , 4 5 7 , 6 6 7

46,656,500

$ 1 , 3 6 9 , 1 6 7

1 6 6 ,6 6 6

1 , 4 5 5 , 1 6 7

8 9 4 . 1 6 7

3 2 3 . 1 6 7

1 5 . 1 4 9 . 0 0 0

7 . 3 7 4 . 0 0 0

’ ’ 3,915,833

4 , 8 3 3

30,652,000

$77,308,500

156 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
M iscellaneou s 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................................

T otal m iscellaneous assets......................

T otal assets....................................................

$22,526

16,030

1,405

2,863

42,824

$2,228

1,217

29

295

3,769

$3,550

1,461

38

153

5,202

$6,330

2,660

196

406

9,592

$12,755

6,106

544

967

20,372

$29,891

16,789

1,413

2,117

50,210

$71,694

58,069

5,681

6,454

141,898

$165,778

138,533

17,711

23,744

345,766

$630,758

587,177

49,000

145,080

1,412,015

$1,098,166

837,000

18,333

244,500

2,197,999

$102,082 $213,414 $413,740 $799,325 $1,599,203 $3,422,234 $7,661,688 $22,943,177 $101,477,666

LIABILITIES

D ep osits:

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.................................................

T ota l d e p o sits ...............................................

Demand..........................................................

Tim e...............................................................

M iscellaneou s liabilities:

Bills payable, rediscounts, and other liabilities for borrowed m oney.....................

Other miscellaneous liabilities..........................

T otal m iscellan eou s liab ilities ..............

T o ta l liabilities (exclu din g ca p ital 

a c c o u n ts )................................................

CAPITAL ACCOUNTS 

C apital a ccou n ts:

Capital stock, notes, and debentures............

Surplus...................................................................

Undivided profits.................................................

Reserve for contingencies..................................

All other capital accounts.................................

T o ta l capital a cco u n ts ..............................

T o ta l liabilities and capital a ccou n ts.

$404,760

475,258

95,287

7,195

1,876

16,729

8,342

1,009,447

517,107

1*92,81+0

$47,662

19,150

8,011

100

142

939

274

76,278

55,762

20,516

$96,076

58,280

20,211

205

502

1,200

957

177,431

116,050

61,381

$174,490

138,573

39,358

471

1,005

1,903

2,405

358,205

211+, 093

1 U J 12

$309,292

305,174

69,848

1,382

2,341

5,293

4,704

698,034

381,1+30

316,601+

$579,169

664,653

130,116

3,982

3,147

13,017

10,821

1,404,905

720,351

681+,551+

$1,184,242

1,505,184

226,079

13,034

3,366

38,674

26,496

2,997,075

1,1+1+1,060

1,556,015

$2,838,655

3,020,289

529,156

59,144

8,200

162,178

74,889

6,692,511

3,559,21+1+

3,133,267

$7,087,048

9,767,565

2,072,403

204,323

27,306

614,387

174,307

19,947,339

9,851,161

10,096,178

$17,480,167

57,911,333

8,960,833

3,231,500

3,525,167

965,167

92,074,167

31,727,833

60,31+6,331+

$1,181

5,446

6,627

$160

171

331

$114

375

489

$283

947

1,230

$114

2,199

2,313

$296

6,172

6,468

$310

16,946

17,256

$11

37,644

37,655

$110,081

220,419

330,500

$348,333

348,333

$1,016,074 $76,609 $177,920 $359,435 $700,347 $1,411,373 $3,014,331 $6,730,166 $20,277,839 $92,422,500

$73,797

40,573

16,729

5,841

2,692

139,632

$18,224

4,669

1,961

285

334

25,473

$23,122

7,433

3,721

579

639

35,494

$32,768

13,038

6,476

1,158

865

54,305

$55,711

26,371

12,012

3,123

1,761

98,978

$104,423

49,293

23,594

6,414

4,106

187,830

$213,108

115,618

52,600

18,197

8,380

407,903

$470,900

293,267

104,955

46,900

15,500

931,522

$1,215,564

918,113

333,806

168,403

29,452

2,665,338

$2,887,500

4,228,333

776.500 

712,333

450.500 

9,055,166

$1,155,706 $102,082 $213,414 $413,740 $799,325 $1,599,203 $3,422,234 $7,661,688 $22,943,177 $101,477,666

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.

Jl.Ba? ks reP°rting to FD IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in 

the District of Columbia. Statements of 4 trust companies not engaged in deposit banking are excluded.

Back figures— See the following Annual Reports: 1939, p. 140; 1938, p. 176; 1937, p. 118; 1936, p. 144; 1935, p. 178; 1934, p. 200.

ASSETS AND LIABILITIES OF OPERATING BANKS 157

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b l e 1 2 4 . PERCENTAGE DISTRIBUTION OF PRINCIPAL ASSET AND LIABILITY ITEMS OF OPERATING INSURED COMMERCIAL BANKS

S u b m i t t i n g R e p o r t s t o 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 i o n , D e c e m b e r 31, 1940

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

All

banks

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

C1)

Number of banks2......................................... 6,942 281 1,672 2,044 1,497 845 445 90 62 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 ............................................................

Securities:

Direct obligations of the U. S. Government. . 

Obligations guaranteed by the U. S. Government .................................................................

Obligations of States and political subdivisions ..........................................................

Other securities......................................................

Total securities...............................................

Loans, discounts, and overdrafts (including rediscounts):

Commercial and industrial loans......................

Agricultural loans (excluding loans on farm

land).................................................................

Commercial paper bought in open market. . . 

Notes, bills, acceptances, etc., payable in

3.0%

25.1

.8

28.9

4.0%

29.8

.2

34.0

3.2%

27.7

.2

31.1

3.0%

28.0

.2

31.2

3.1%

26.7

.3

30.1

3.2%

26.4

.6

30.2

3.2%

24.3 

.9

28.4

3.4%

27.3

1.3

32.0

2.7%

22.4 

1.3

26.4

2.1%

18.7 

.9

21.7

12.5%

2.9

7.4

6.5 

29.3

7.2%

1.4

4.6

1.1

14.3

9.7%

1.7

5.8 

2.7

19.9

9.4%

2.1

7.0

4.1 

22.6

8.6%

2.5

8.2

5.3

24.6

8.9%

3.1

7.8

6.9 

26.7

10.2%

3.0

7.1 

8.4

28.7

12.5%

3.9

7.2

7.9 

31.5

16.9%

3.2

7.1

7.6

34.8

29.7%

3.3

8.6

4.4 

46.0

5.8%

5.2

.6

.0

.0

.0

.3

.9

3.0

9.5

2.9 

.0

9.9 

.0

38.1

5.4%

23.1

.0

4.7%

19.7

.2

.0

.0

.0

.0

.2

6.6

3.8

1.1

.0

10.1

.1

46.5

5.0%

14.9 

.3

.0

.0

.0

.0

.2

6.7

5.5

1.4

.0

9.9

.0

43.9

6.1%

9.5

.4

.0

6.6%

5.0

.6

7.7%

1.7

1.1

.0

7.0%

.6

.9

4.9%

.1

.8

1.3%

.2

Acceptances of other banks, payable in the 

TTnifpH StjitpQ .0

.0

.1

.7

3.6

9.9

2.5

.0

10.8

.1

39.9

.0

.0

.4

1.6

.8

10.2

3.3 

.0

7.3 

.0

32.1

.0

.0

.5

1.5

.5

9.0

3.3

.0

12.1

.0

32.7

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..........................................

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

All other loans........................................................

Overdrafts...............................................................

Total loans, discounts, and overdrafts

Total loans and securities.....................

.0

.0

.1

6.0

2.7

1.0

9.6

.1

48.0

.0

.0

.5

6.0

7.9

1.8

.0

10.5

.0

42.7

.1

1.2

1.8

11.9

3.1

.0

10.1

.0

38.7

1.4

.9

.3

14.9

7.3

3.9

.0

30.2

6 7 A % 1 62.3% 66.4% 66.5% 67.3% 66.6% 67.4% 63.6% 67.5% 76.2%

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
M iscellaneou s 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.......................

T ota l m iscellan eou s a ssets .............

T otal a ssets...........................................

LIABILITIES

D ep osits:

Individuals, partnerships, and corporations:

D em 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...................................................

T otal d e p o sits .................................................

Demand............................................................

Tim e.................................................................

M iscellaneou s liabilities:

Bills payable, rediscounts, and other liabilities for borrowed m oney.......................

Other miscellaneous liabilities............................

T otal m iscellan eou s lia b ilities ................

T ota l liabilities (exclu din g capital 

a c c o u n ts )..............................................

CAPITAL ACCOUNTS

Capital a cco u n ts:

Capital stock, notes, and debentures..........

Surplus.................................................................

Undivided profits..............................................

Reserve for contingencies................................

All other capital accounts................................

T otal capital a c c o u n ts ............................

T otal liabilities an d capital a ccou n ts

2.0% 2.2% 1.7% 1.5% 1.6% 1.9% 2.1% 2.1% 2.7% 1.1% 1.4 1.2 .7 .6 .8 1.1 1.7 1.8 2.6 .8

.1 .1 .1 .1 .2 .2 .2 .0

.2 .3 .1 .1 .1 .1 .2 .3 .6 .2

3.7 3.7 2.5 2.3 2.6 3.2 4.2 4.4 6.1 2.1

100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

35.0% 46.7% 45.0% 42.2% 38.7% 36.2% 34.6% 37.1% 30.9% 17.2%

41.1 18.8 27.3 33.5 38.2 41.6 44.0 39.4 42.6 57.1

8.2 7.8 9.5 9.5 8.7 8.1 6.6 6.9 9.0 8.8

.6 .1 .1 .1 .2 .3 .4 .8 .9 3.2

.2 .1 .2 .2 .3 .2 .1 .1 .1

1.5 .9 .6 .5 .6 .8 1.1 2.1 2.7 3.5

.7 .3 .4 .6 .6 .7 .8 1.0 .8 1.0

87.3 74.7 83.1 86.6 87.3 87.9 87.6 87.4 87.0 90.8

U .7 54-6 54-4 51.8 47.7 45.1 42.1 46.5 43.0 81.3

42.6 20.1 28.7 34.8 39.6 42.8 45.5 40.9 44.0 • 59.5

.1 % •1% • -L 1 °ZZv .1% •0% .0% •0% .0% •5%

.5 .1 .2 .2 .3 .4 .5 .4 .9 .3%

.6 .2 .3 .3 .3 .4 .5 .4 1.4 .3

87.9% 74.9% 83.4% 86.9% 87.6% 88.3% 88.1% 87.8% 88.4% 91.1%

6.4% 17.9% 10.8% 7.9% 7.0% 6.5% 6.2% 6.2% 5.3% 2.8%

3.5 4.6 3.5 3.2 3.3 3.1 3.4 3.8 4.0 4.2

1.5 2.0 1.7 1.5 1.5 1.5 1.5 1.4 1.4 .8

.5 .3 .3 .3 .4 .4 .5 .6 .8 .7

.2 .3 .3 .2 .2 .2 .3 .2 .1 .4

12.1 25.1 16.6 13.1 12.4 11.7 11.9 12.2 11.6 8.9

100.0% 100.0% 100.0% 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 Banks reporting to FD IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in 

the District of Columbia. Statements of 4 trust companies not engaged in deposit banking are excluded.

Back figures— See the following Annual Reports: 1939, p. 142; 1938, p. 178; 1937, p. 120; 1936, p. 146; 1935, p. 180; 1934, p. 202. cnASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ANALYSIS OF EXAMINATIONS OF INSURED COMMERCIAL BANKS M

Ci

Table 125. ANALYSIS OF CAPITAL AND LIABILITIES OF INSURED COMMERCIAL BANKS EXAMINED IN 1940 O

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

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.i Private Total R . F. C.i Private

liabilities

A ll b a n k s................. 13,437 6,557,835 365,756 6,192,079

(

232,026

[In thousands 

6,325,809

of dollars) 

436,880 5,888,929 58,640,075 57,919,547 720,528

Banks w ith n et sou n d 

capital per $100 o f 

appraised value o f 

assets o f—

$0.00 or less................................ 7 5,334 1,190 4,144 6,839 *-1,505 6,140 *-7,645 40,511 39,348 1,163

$0.01 to $4.99 49 13,662 2,019 11,643 4,089 9,573 2,748 6,825 211,335 209,709 1,626

$5.00 to $9.99 2,872 3,145,875 176,747 2,969,128 112,345 3,033,530 213,325 2,820,205 37,280,646 36,739,600 541,046

$10.00 to $14.99 , 6,112 2,348,048 129,888 2,218,160 87,630 2,260,418 i 54,737 2,105,681 16,950,334 16,815,905 134,423

$15.00 to $19.99 2,829 563,689 31,908 531,781 28,804 534,885 35,189 499,696 2,655,968 2,627,307 28,661

$20.00 to $24.99 . 1,032 259,643 19,036 240,607 7,712 251,931 19,773 232,158 895,301 888,543 6,758

$25.00 to $29.99 325 153,239 3,399 149,840 5,118 158,352 3,399 154,953 447,453 443,984 3,469

$30.00 to $34.99 131 51,515 654 50,861 10,621* 62,139 654 61,485 137,317 134,811 2,506

$35.00 or m ore... 80 16,830 915 15,915 344 16,486 915 15,571 21,210 20,340 870

Banks w ith fixed and 

substandard assets per 

$100 o f appraised value 

o f assets o f—

$0.00............................................. 46 16,253 87 16,166 708 16,961 87 16,874 135,709 133,782 1,927

$0.01 to $4.99 5,022 3,311,995 84,335 3,227,660 42,802 3,269,193 99,034 3,170,159 35,071,817 34,534,419 537,398

$5.00 to $9.99 4,481 1,998,547 136,337 1,862,210 68,648 1,929,899 164,627 1,765,272 15,924,720 15,802,267 122,453

$10.00 to $14.99 2,116 644,637 62,205 582,432 49,081 595,556 68,490 527,066 4,334,624 4,309,567 25,057

$15.00 to $19.99 , 1,005 319,221 40,580 278,641 36,141 283,080 51,225 231,855 1,887,807 1,878,535 9,272

$20.00 to $24.99 , . 418 128,038 15,787 112,251 3,067 124,971 20,034 104,937 662,030 655,888 6,142

$25.00 to $29.99 , 200 69,860 15,942 53,918 10,880 58,980 16,567 42,413 308,135 304,333 3,802

$30.00 to $34.99 75 29,804 6,411 23,393 9,747 20,057 12,234 7,823 168,424 166,752 1,672

$35.00 or m ore... , 74 39,480 4,072 35,408 12,368 27,112 4,582 22,530 146,809 134,004 12,805

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 less..............................

$-0.01 to $-0.49..........................

17

59

2,135

12,212

566

812

1,569

11,400

508

1,831

1,627

10,381

566

1,012

1,061

9,369

6,566

76,091

6,516

75,462

50

629

$0.00 to $0.49.............................

$0.50 to $0.99.............................

$1.00 to $1.49.............................

$1.50 to $1.99.............................

997

4,094

4,605

2,305

1,390,397

3,129,423

1,408,258

450,920

67,224

164,099

101,759

23,865

1,323,173

2,965,324

1,306,499

427,055

35,939

121,572

72,145

7,983

1,354,458

3,007,851

1,336,113

442,937

94,398

195,543

110,909

26,472

1,260,060

2,812,308

1,225,204

416,465

14,439,659

30,851,603

10,097,915

2,357,096

14,307,125

30,357,336

10,042,462

2,340,532

132,534

494,267

55,453

16,564

$2.00 to $2.49.............................

$2.50 to $2.99.............................

$3.00 or more..............................

Not available..............................

848

299

194

19

100,820

38,828

23,074

1,768

4,834

1,330

827

440

95,986

37,498

22,247

1,328

9,120

676

440

52

109,940

38,152

22,634

1,716

4,834

1,330

827

989

105,106

36,822

21,807

727

520,941

170,844

106,198

13,162

514,050

161,726

101,281

13,057

6,891

9,118

4,917

105

Banks with deposits of—

$100,000 or less..........................

$100,000 to $250,000................

$250,000 to $500,000................

385

2,230

3,086

10,546

88,237

191,328

1,050

7,904

15,478

9,496

80,333

175,850

520

3,396

6,067

10,026

84,841

185,261

1,050

7,974

15,700

8,976

76,867

169,561

29,520

407,426

1,128,068

29,149

405,134

1,123,739

371

2,292

4,329

$500,000 to $1,000,000.............

$1,000,000 to $2,000,000.........

$2,000,000 to $5,000,000.........

3,022

2,169

1,483

338,979

456,286

644,900

23,850

35,317

50,445

315,129

420,969

594,455

13,683

24,797

34,708

325,296

431,489

610,192

25,526

36,767

57,706

299,770

394,722

552,486

2,177,754

3,076,792

4,554,449

2,169,338

3,060,390

4,530,855

8,416

16,402

23,594

$5,000,000 to $10,000,000___

$10,000,000 to $50,000,000. .. 

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

516

418

128

474,412

959,073

3,394,074

49,412

87,328

94,972

425,000

871,745

3,299,102

23,823

36,154

88,878

450,589

922,919

3,305,196

55,731

124,034

112,392

394,858

798,885

3,192,804

3,562,270

8,521,443

35,182,353

3,538,555

8,458,526

34,603,861

23,715

62,917

578,492

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.

4 Adjusted liabilities plus the retirable value of R. F. C. capital exceed the appraised value of assets.

N o t e : For banks included and explanation of terms, see pages 85-87.

Back figures— See the Annual Report for 1939, p. 150.

ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 126. NET SOUND CAPITAL RATIOS OF INSURED COMMERCIAL BANKS EXAMINED IN 1940

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.1 Private Total R. F. C .1 Private

A ll b a n k s ........................................ 13,437

7

$100.00 $ 5.58 $94.42 $ 3.54 $96.46 $ 6.66 $89.80 $ 9.74 $10.92

Banks w ith n et sound 

c a p i t a l p er $100 o f 

a p p r a is e d v a lu e o f 

assets of—

$0.00 or less................................ 100.00 22.31 77.69 128.22 s-28.22 115.11 4-143.33 s-3.86 3-3.82

$0.01 to $4.99.............................

$5.00 to $9.99.............................

49

2,872

100.00

100.00

14.78

5.62

85.22

94.38

29.93

3.57

70.07

96.43

20.11

6.78

49.96

89.65

4.33

7.52

4.56

8.26

$10.00 to $14.99........................ 6,112 100.00 5.53 94.47 3.73 96.27 6.59 89.68 11.77 13.44

$15.00 to $19.99........................ 2,829

1,032

325

100.00 5.66 94.34 5.11 94.89 6.24 88.65 16.76 20.36

$20.00 to $24.99........................ 100.00 7.33 92.67 2.97 97.03 7.62 89.41 21.96 28.35

$25.00 to $29.99........................ 100.00 2.22 97.78 *3.3h 5103.34 2.22 5101.12 26.14 35.67

$30.00 to $34.99........................ 131 100.00 1.27 98.73 520.62 5120.62 1.27 5119.35 31.15 46.09

$35.00 or m ore........................... 80 100.00 5.44 94.56 2.04 97.96 5.44 92.52 43.73 81.05

Banks w ith fixed and 

substandard assets per 

$100 o f appraised value 

o f assets o f—

$0.00............................................. 46 100.00 .54 99.46 h.36 104.36 .54 103.82 11.11 12.68

$0.01 to $4.99 .......................... 5,022 100.00 2.55 97.45 1.29 98.71 2.99 95.72 8.53 9.47

$5.00 to $9.99............................. 4,481 100.00 6.82 93.18 3.43 96.57 8.24 88.33 10.81 12.21

$10.00 to $14.99........................ 2,116 100.00 9.65 90.35 7.61 92.39 10.62 81.77 12.08 13.82

$15.00 to $19.99........................ 1,005 100.00 12.71 87.29 11.32 88.68 16.05 72.63 13.04 15.07

$20.00 to $24.99........................ 418 100.00 12.33 87.67 52.40 597.60 15.65 581.95 15.88 19.05

$25.00 to $29.99........................ 200 100.00 22.82 77.18 15.57 84.43 23.71 60.72 16.07 19.38

$30.00 to $34.99........................ 75 100.00 21.51 78.49 32.70 67.30 41.05 26.25 10.64 12.03

$35.00 or m ore........................... 74 100.00 10.31 89.69 31.33 68.67 11.61 57.06 15.59 20.23

162 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Banks w ith 3-year average n et cu rren t o p eratin g earnings per $100 

o f total assets o f—

$-0.50 or less..........................

$-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 m ore.........................

N ot available..........................

B anks 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........

17 100.00 26.51 73.49 23.79 76.21 26.51 49.70 19.86

59 100.00 6.65 93.35 14.99 85.01 8.29 76.72 12.01

997 100.00 4.83 95.17 2.58 97.42 6.79 90.63 8.58

4,094 100.00 5.24 94.76 3.88 96.12 6.25 89.87 8.88

4,605 100.00 7.23 92.77 5.12 94.88 7.88 87.00 11.69

2,305 100.00 5.29 94.71 1.77 98.23 5.87 92.36 15.82

848 100.00 4.79 95.21 59.05 5109.05 4.79 6104.26 17.43

299 100.00 3.43 96.57 1.74 98.26 3.43 94.83 18.25

194 100.00 3.58 96.42 1.91 98.09 3.58 94.51 17.57

19 100.00 24.89 75.11 2.94 97.06 55.94 41.12 11.53

385 100.00 9.96 90.04 4.93 95.07 9.96 85.11 25.35

2,230 100.00 8.96 91.04 3.85 96.15 9.04 87.11 17.23

3,086 100.00 8.09 91.91 3.17 96.83 8.21 88.62 14.11

3,022 100.00 7.04 92.96 4.04 95.96 7.53 88.43 13.00

2,169 100.00 7.74 92.26 5.43 94.57 8.06 86.51 12.30

1,483 100.00 7.82 92.18 5.38 94.62 8.95 85.67 11.81

516 100.00 10.42 89.58 5.02 94.98 11.75 83.23 11.23

418 100.00 9.11 90.89 3.77 96.23 12.93 83.30 9.77

128 100.00 2.80 97.20 2.62 97.38 3.31 94.07 8.59

24.97

13.76

9.47

9.91

13.30

18.92

21.39

23.59

22.35

13.14

34.40

20.94

16.49

15.00

14.10

13.47

12.73

10.91

9.55

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.

4 Adjusted liabilities plus the retirable value of R. F. C. capital exceed the appraised value of assets.

6 For explanation of the apparent irregularity of this item, see pages 87-88.

N o t e : For banks included and explanation of terms, see pages 85-87.

Back figures— See the Annual Report for 1939, page 152.

Oi

COANALYSIS OP EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 127. ANALYSIS OF CAPITAL AND LIABILITIES OF INSURED COMMERCIAL BANKS EXAM INED IN 1940

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

(Amounts in thousands of dollars)

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.1 Private Total R .F .C .i Private

United States— total................. 13,437 6,557,835 365,756 6,192,079 232,026 6,325,809 436,880 5,888,929 58,640,075 57,919,547 720,528

FDIC District

District 1 ..................................... 487 448,510 20,747 427,763 29,285 419,225 21,717 397,508 3,183,883 3,154,851 29,032

District 2 ..................................... 1,119 2,235,293 83,564 2,151,729 100,156 2,135,137 143,180 1,991,957 21,119,099 20,638,058 481,041

District 3 ..................................... 1,725 1,131,995 69,518 1,062,477 58,232 1,073,763 74,351 999,412 7,517,409 7,459,771 57,638

District 4 ..................................... 1,010 321,990 20,537 301,453 7,543 314,447 20,624 293,823 2,653,525 2,637,446 16,079

District 5 ..................................... 977 237,530 20,687 216,843 6,856 244,386 22,740 221,646 2,059,012 2,046,584 12,428

District 6 ..................................... 1,450 308,469 21,258 287,211 6,263 302,206 21,924 280,282 2,841,130 2,825,510 15,620

District 7 ..................................... 1,458 362,504 53,901 308,603 7,355 355,149 54,041 301,108 3,521,864 3,508,250 13,614

District 8 ..................................... 1,409 474,769 12,670 462,099 3,670 471,099 12,670 458,429 5,652,278 5,628,070 24,208

District 9 ..................................... 1,068 138,007 9,433 128,574 1,802 136,205 9,840 126.365 1,277,865 1,269,146 8,719

District 10................................... 1,393 188,348 8,030 180,318 3,283 185,065 9,008 176,057 1,580,198 1,575,275 4,923

District 11................................... 832 196,922 14,496 182,426 2,783 194,139 15,151 178,988 1,759,253 1,751,470 7,783

District 12................................... 509 513,498 30,915 482,583 18,510 494,988 31,634 463,354 5,474,559 5,425,116 49,443

State

Alabama.......................... 209 48,676 5,955 42,721 1,423 47.253 7,533 39,720 332,219 330,664 1,555

Arizona.......................... 12 7,934 1,197 6,737 132 7,802 1,197 6,605 91,491 90,273 1,218

Arkansas...................................... 210 25,525 2,275 23,250 514 25,011 2,302 22,709 191,246 190,722 524

California..................................... 197 404,570 25,364 379,206 17,377 387,193 25,681 361,512 4,345,297 4,303,179 42,118

C olorado....................................... 139 36,120 1,726 34,394 658 35,462 1,726 33,736 355,870 354,648 1,222

Connecticut................................. 99 75,461 4,998 70,463 4,467 70,994 5,132 65,862 554,140 551,027 3,113

Delaware...................................... 42 40,639 210 40,429 1,611 39,028 210 38,818 205,025 204,410 615

District of Columbia................. 22 48,259 1,663 46,596 1,183 47,076 1,663 45,413 385,696 383,988 1,708

Florida.......................................... 162 43,891 813 43,078 829 43,062 813 42,249 459,949 458,445 1,504

Georgia......................................... 267 65,014 2,360 62,654 10,325 75,339 2,360 72,979 514,359 509,370 4,989

Idaho............................................ 48 9,825 1,262 8,563 11 9,836 1,663 8,173 98,034 97,813 221

Illinois........................................... 823 406,270 8,201 398,069 3,417 402,853 8,201 394,652 4,974,819 4,952,436 22,383

Indiana......................................... 477 105,848 8,910 96,938 2,558 103,290 8,910 94,380 930,625 927,283 3,342

Iow a.............................................. 586 68,500 4,469 64,031 255 68,245 4,469 63,776 677,461 675,634 1,827

Kansas.......................................... 451 45,369 1,811 43,558 866 44,503 2,789 41,714 359,347 358,285 1,062

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
K entucky..................................... 372 70,166 5,283 64,883 1,788 68,378 5,395 62,983 481,793 479,267 2,526

Louisiana..................................... 144 52,750 5,760 46,990 715 52,035 5,760 46,275 548,367 545,102 3,265

M aine........................................... 59 30,433 3,092 27,341 3,257 27,176 3,292 23,884 200,495 199,781 714

M aryland..................................... 174 66,380 6,348 60,032 1,509 64,871 6,413 58,458 686,213 683,409 2,804

Massachusetts............................ 185 265,721 6,218 259,503 15,332 250,389 6,843 243,546 1,964,457 1,942,105 22,352

M ichigan...................................... 424 143,652 24,559 119,093 821 142,831 24,699 118,132 1,614,163 1,607,133 7,030

M innesota.................................... 643 99,058 5,191 93,867 765 98,293 5,578 92,715 950,467 943,056 7,411

Mississippi.................................. 195 27,198 5,799 21,399 500 26,698 6,274 20,424 204,117 203,003 1,114

Missouri....................................... 580 145,787 5,200 140,587 2,050 143,737 5,200 138,537 1,600,733 1,591,829 8,904

M ontana...................................... 111 15,812 777 15,035 183 15,629 792 14,837 150,123 149,678 445

Nebraska...................................... 363 39,307 2,263 37,044 680 38,627 2,263 36,364 327,095 326,080 1,015

N evada......................................... 11 3,433 12 3,421 59 3,374 12 3,362 44,073 43,855 218

New Hampshire......................... 56 16,376 254 16,122 1,118 15,258 264 14,994 86,666 86,412 254

New Jersey.................................. 352 217,579 41,088 176,491 21,101 196,478 76,080 120,398 1,813,095 1,801,436 11,659

New M exico................................ 40 5,805 479 5,326 197 5,608 479 5,129 62,356 62,295 61

New Y ork.................................... 725 1,977,075 42,265 1,934,810 77,445 1,899,630 66,889 1,832,741 19,100,980 18,632,212 468,768

North Carolina........................... 219 54,228 3,914 50,314 447 53,781 3,914 49,867 479,896 475,453 4,443

North D akota............................ 150 10,075 1,507 8,568 519 9,556 1,512 8,044 76,772 76,432 340

O hio............................................... 680 300,473 41,640 258,833 6,452 294,021 45,602 248,419 2,512,928 2,492,363 20,565

Oklahoma.................................... 382 58,784 1,553 57,231 926 57,858 1,553 56,305 470,511 469,072 1,439

Oregon.......................................... 69 27,417 546 26,871 259 27,158 546 26,612 315,779 312,153 3,626

Pennsylvania.............................. 1,045 831,522 27,878 803,644 51,780 779,742 28,749 750,993 5,004,480 4,967,408 37,072

Rhode Island.............................. 16 36,750 636 36,114 2,228 34,522 636 33,886 266,130 263,919 2,211

South Carolina........................... 113 17,100 1,418 15,682 213 16,887 1,421 15,466 155,976 155,515 461

South Dakota............................. 164 13,062 1,958 11,104 334 12,728 1,958 10,770 100,503 99,979 524

Tennessee..................................... 288 66,992 8,500 58,492 1,911 65,081 9,027 56,054 567,357 563,692 3,665

Texas............................................. 780 183,182 12,819 170,363 2,454 180,728 13,475 167,253 1,605,407 1,598,902 6,505

U tah.............................................. 54 18,305 1,365 16,940 11 18,294 1,365 16,929 154,854 154,233 621

Verm ont....................................... 72 23,770 5,550 18,220 2,883 20,887 5,550 15,337 111,994 111,607 387

Virginia......................................... 308 86,800 4,878 81,922 2,017 84,783 4,898 79,885 634,821 629,291 5,530

Washington................................. 130 49,948 2,368 47,580 816 49,132 2,368 46,764 516,523 513,883 2,640

West Virginia.............................. 174 49,222 2,314 46,908 2,173 47,049 2,314 44,735 310,922 309,790 1,132

Wisconsin..................................... 557 113,004 20,432 92,572 3,976 109,028 20,432 88,596 977,076 973,834 3,242

W yom ing..................................... 58 8,768 678 8,090 153 8,615 678 7,937 67,375 67,191 184

iB ook 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 o te : For bank included and explanation of terms, see pages 85-88. 

Back figures— See the Annual Report for 1939, page 154.

ANALYSIS OF EXAMINATIONS OF INSURED BANKS 165

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 128. M et Sound C a p ita l R atios o f Insured Com m ercial B anks Exam ined in 1940

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION 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

United States— total................... 13,437

487

$100.00 $5.58 $94.42 $3.54 $96.46 $6.66 $89.80 $9.74 $10.92

FDIC District

District 1 ....................................... 100.00 4.63 95.37 6.53 93.47 4.84 88.63 11.64 13.29

District 2 ....................................... 1,119

1,725

1,010

977

100.00 3.74 96.26 4.48 95.52 6.41 89.11 9.18 10.35

District 3 ....................................... 100.00 6.14 93.86 5.14 94.86 6.57 88.29 12.50 14.39

District 4 ....................................... 100.00 6.38 93.62 2.34 97.66 6.41 91.25 10.59 11.92

District 5 ....................................... 100.00 8.71 91.29 2.89 102.89 9.57 93.32 10.61 11.94

District 6 ....................................... 1,450

1,458

1,409

1,068

1,393

832

100.00 6.89 93.11 2.03 97.97 7.11 90.86 9.61 10.70

District 7 ....................................... 100.00 14.87 85.13 2.03 97.97 14.91 83.06 9.16 10.12

District 8 ....................................... 100.00 2.67 97.33 .77 99.23 2.67 96.56 7.69 8.37

District 9 ....................................... 100.00 6.84 93.16 1.31 98.69 7.13 91.56 9.63 10.73

District 10..................................... 100.00 4.26 95.74 1.74 98.26 4.78 93.48 10.48 11.75

District 11..................................... 100.00 7.36 92.64 1.41 98.59 7.69 90.90 9.94 11.08

District 12..................................... 509 100.00 6.02 93.98 3.60 96.40 6.16 90.24 8.29 9.12

State

Alabama......................................... 209 100.00 12.23 87.77 2.92 97.08 15.48 81.60 12.45 14.29

Arizona........................................... 12 100.00 15.09 84.91 1.66 98.34 15.09 83.25 7.86 8.64

Arkansas........................................ 210 100.00 8.91 91.09 2.01 97.99 9.02 88.97 11.57 13.11

California....................................... 197 100.00 6.27 93.73 4.30 95.70 6.35 89.35 8.18 9.00

Colorado...................................... .. 139 100.00 4.78 95.22 1.82 98.18 4.78 93.40 9.06 10.00

Connecticut................................... 99 100.00 6.62 93.38 5.92 94.08 6.80 87.28 11.36 12.88

Delaware........................................ 42 100.00 .52 99.48 3.96 96.04 .52 95.52 15.99 19.09

District of Columbia.................. 22 100.00 3.45 96.55 2.45 97.55 3.45 94.10 10.88 12.26

Florida............................................ 162 100.00 1.85 98.15 1.89 98.11 1.85 96.26 8.56 9.39

Georgia........................................... 267 100.00 3.63 96.37 15.88 115.88 3.63 112.25 12.78 14.79

Idaho.............................................. 48 100.00 12.84 87.16 .11 100.11 16.93 83.18 9.12 10.06

Illinois............................................. 823 100.00 2.02 97.98 .84 99.16 2.02 97.14 7.49 8.13

Indiana........................................... 477 100.00 8.42 91.58 2.42 97.58 8.42 89.16 9.99 11.14

Iow a................................................ 586 100.00 6.52 93.48 .37 99.63 6.52 93.11 9.15 10.10

Kansas............................................ 451 100.00 3.99 96.01 1.91 98.09 6.15 91.94 11.02 12.42

166 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
K entucky....................................... 372 100.00 7.53 92.47 2.55 97.45 7.69 89.76 12.43 14.27

Louisiana....................................... 144 100.00 10.92 89.08 1.36 98.64 10.92 87.72 8.67 9.55

M aine............................................. 59 100.00 10.16 89.84 10.70 89.30 10.82 78.48 11.94 13.60

M aryland....................................... 174 100.00 9.56 90.44 2.27 97.73 9.66 88.07 8.64 9.49

Massachusetts.............................. 185 100.00 2.34 97.66 5.77 94.23 2.58 91.65 11.31 12.89

Michigan........................................ 424 100.00 17.10 82.90 .57 99.43 17.19 82.24 8.13 8.89

Minnesota...................................... 643 100.00 5.24 94.76 .77 99.23 5.63 93.60 9.37 10.42

Mississippi..................................... 195 100.00 21.32 78.68 1.84 98.16 23.07 75.09 11.57 13.15

Missouri......................................... 580 100.00 3.57 96.43 1.41 98.59 3.57 95.02 8.24 9.03

Montana........................................ 111 100.00 4.91 95.09 1.16 98.84 5.01 93.83 9.43 10.44

Nebraska........................................ 363 100.00 5.76 94.24 1.73 98.27 5.76 92.51 10.56 11.85

N evada........................................... 11 100.00 .35 99.65 1.72 98.28 .35 97.93 7.11 7.69

New Hampshire........................... 56 100.00 1.55 98.45 6.83 93.17 1.61 91.56 14.97 17.66

New Jersey.................................... 352 100.00 18.88 81.12 9.70 90.30 34.97 55.33 9.78 10.91

New M exico.................................. 40 100.00 8.25 91.75 3.39 96.61 8.25 88.36 8.25 9.00

New Y ork...................................... 725 100.00 2.14 97.86 3.92 96.08 3.38 92.70 9.05 10.20

North Carolina............................. 219 100.00 7.22 92.78 .82 99.18 7.22 91.96 10.08 11.31

North Dakota............................... 150 100.00 14.96 85.04 5.15 94.85 15.01 79.84 11.07 12.50

Ohio................................................. 680 100.00 13.86 86.14 2.15 97.85 15.18 82.67 10.47 11.80

Oklahoma...................................... 382 100.00 2.64 97.36 1.58 98.42 2.64 95.78 10.95 12.33

Oregon............................................ 69 100.00 1.99 98.01 .94 99.06 1.99 97.07 7.92 8.70

Pennsylvania................................ 1,045 100.00 3.35 96.65 6.23 93.77 3.46 90.31 13.48 15.70

Rhode Island................................ 16 100.00 1.73 98.27 6.06 93.94 1.73 92.21 11.48 13.08

South Carolina............................. 113 100.00 8.29 91.71 1.25 98.75 8.31 90.44 9.77 10.86

South D akota............................... 164 100.00 14.99 85.01 2.56 97.44 14.99 82.45 11.24 12.73

Tennessee....................................... 288 100.00 12.69 87.31 2.85 97.15 13.47 83.68 10.29 11.55

Texas............................................... 780 100.00 7.00 93.00 1.34 98.66 7.36 91.30 10.12 11.30

U tah................................................ 54 100.00 7.46 92.54 .06 99.94 7.46 92.48 10.57 11.86

Verm ont......................................... 72 100.00 23.35 76.65 12.13 87.87 23.35 64.52 15.72 18.71

Virginia........................................... 308 100.00 5.62 94.38 2.32 97.68 5.64 92.04 11.78 13.47

Washington...................................

West Virginia................................

130 100.00 4.74 95.26 1.63 98.37 4.74 93.63 8.69 9.56

174 100.00 4.70 95.30 4.41 95.59 4.70 90.89 13.14 15.19

W isconsin....................................... 557 100.00 18.08 81.92 3.52 96.48 18.08 78.40 10.04 11.20

W yom ing....................................... 58 100.00 7.73 92.27 1.74 98.26 7.73 90.53 11.34 12.82

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 o te : For banks included and explanation of terms, see pages 85-88. 

Back figures— See the Annual Report for 1939, page 156.

ANALYSIS OF EXAMINATIONS OF INSURED BANKS 167

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 129. APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1940

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

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

N ot

criticized

(In thousands of dollars)

All banks...................................... 13,437 65,184,983 219,099 64,965,884 2,552,494 62,413,390 23,308,292 22,758,101 59,756 22,698,345 1,038,854 21,659,491

Banks with net sound

capital per $100 of

appraised value of

assets of—

$0.00 or less.............................. 7 45,514 6,508 39,006 11,811 27,195 5,822 14,479 1,815 12,664 3,424 9,240

$0.01 to $4.99.......................... 49 224,855 3,947 220,908 13,947 206,961 93,250 69,315 758 68,557 3,596 64,961

$5.00 to $9.99.......................... 2,872 40,421,990 107,814 40,314,176 1,197,754 39,116,422 15,007,769 14,555,596 28,018 14,527,578 480,553 14,047,025

$10.00 to $14.99...................... 6,112 19,294,834 84,082 19,210,752 880,613 18,330,139 6,734,246 6,406,201 30,524 6,375,677 361,925 6,013,752

$15.00 to $19.99...................... 2,829 3,215,533 24,680 3,190,853 268,970 2,921,883 888,642 1,017,418 10,129 1,007,289 104,502 902,787

$20.00 to $24.99...................... 1,032 1,154,850 7,618 1,147,232 98,330 1,048,902 366,202 360,621 2,733 357,888 30,222 327,666

$25.00 to $29.99...................... 325 600,671 5,1SU 605,805 47,908 557,897 156,460 260,987 3,070 264,057 32,307 231,750

$30.00 to $34.99...................... 131 188,700 10,756 199,456 26,937 172,519 46,724 63,362 11,236 74,598 18,977 55,621

$35.00 or m ore......................... 80 38,036 340 37,696 6,224 31,472 9,177 10,122 85 10,037 3,348 6,689

Banks with fixed and

substandard assets per

$100 of appraised value

of assets of—

$0.00........................................... 46 151,958 712 152,670 152,670 60,578 51,228 577 51,805 51,805

$0.01 to $4.99.......................... 5,022 38,381,252 40,242 38,341,010 587,196 37,753,814 15,423,852 13,603,860 12,449 13,591,411 304,435 13,286,976

$5.00 to $9.99.......................... 4,481 17,920,714 66,095 17,854,619 850,709 17,003,910 5,685,292 6,098,448 17,071 6,081,377 338,563 5,742,814

$10.00 to $14.99...................... 2,116 4,976,693 46,513 4,930,180 458,864 4,471,316 1,292,284 1,730,602 17,012 1,713,590 163,115 1,550,475

$15.00 to $19.99...................... 1,005 2,206,340 35,453 2,170,887 297,013 1,873,874 519,849 788,690 12,732 775,958 111,093 664,865

$20.00 to $24.99...................... 418 787,948 947 787,001 151,488 635,513 192,313 251,115 6,852 257,967 62,654 195,313

$25.00 to $29.99...................... 200 377,921 10,806 367,115 88,519 278,596 73,727 112,327 3,346 108,981 24,148 84,833

$30.00 to $34.99...................... 75 197,895 9,414 188,481 54,980 133,501 32,286 74,645 2,792 71,853 18,847 53,006

$35.00 or m ore......................... 74 184,262 10,341 173,921 63,725 110,196 28,111 47,186 1,783 45,403 15,999 29,404

168 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 o p e ra tin g earnings per $100 

o f total assets o f—

$-0.50 or less............................

$-0.01 to $-0.49......................

17

59

8,700

88,293

507

1,821

8,193

86,472

1,572

4,732

6,621

81,740

2,529

37,385

2,034

23,893

46

538

1,988

23,355

296

1,701

1,692

21,654

$0.00 to $0.49...........................

$0.50 to $0.99...........................

$1.00 to $1.49...........................

$1.50 to $1.99...........................

997

4,094

4,605

2,305

15,826,550

33,974,109

11,504,438

2,807,545

32,433

114,655

70,410

7,512

15,794,117

33,859,454

11,434,028

2,800,033

356,496

1,242,242

680,753

196,232

15,437,621

32,617,212

10,753,275

2,603,801

6,862,936

11,830,498

3,556,351

769,949

5,294,273

12,461,222

3,928,104

851,922

12,942

30,060

27,377

20

5,281,331

12,431,162

3,900,727

851,942

174,243

477,213

268,929

84,453

5,107,088

11,953,949

3,631,798

767,489

$2.00 to $2.49...........................

$2.50 to $2.99...........................

$3.00 or more............................

N ot available............................

848

299

194

19

621,555

209,640

129,229

14,924

9,326

644

397

46

630,881

208,996

128,832

14,878

51,684

12,458

6,140

185

579,197

196,538

122,692

14,693

168,971

47,332

27,023

5,318

141,962

36,118

14,245

4,328

11,17041

153,132

36,114

14,267

4,327

25,425

4,822

1,708

64

127,707

31,292

12,559

4,263

B anks w ith deposits o f—

$100,000 or less........................

$100,000 to $250,000..............

$250,000 to $500,000..............

385

2,230

3,086

40,042

495,548

1,319,249

496

3,281

5,920

39,546

492,267

1,313,329

3,562

34,425

77,598

35,984

457,842

1,235,731

12,722

143,831

385,044

6,164

108,359

323,463

18

216

1,358

6,146

108,143

322,105

533

8,839

24,364

5,613

99,304

297,741

$500,000 to $1,000,000..........

$1,000,000 to $2,000,000___

$2,000,000 to $5,000,000___

3,022

2,169

1,483

2,516,437

3,532,751

5,199,079

13,388

24,470

34,437

2,503,049

3.508,281

5,164,642

147,111

213,548

328,152

2,355,938

3,294,733

4,836,490

737,272

1,049,379

1,571,118

700,739

1,073,289

1,696,744

5,387

9,058

14,310

695,352

1,064,231

1,682,434

56,923

79,417

128,207

638,429

984,814

1,554,227

$5,000,000 to $10,000,000. . . 

$10,000,000 to $50,000,000. . 

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

516

418

128

4,036,377

9,476,614

38,568,886

23,518

32,252

81,337

4,012,859

9,444,362

38,487,549

224,956

419,091

1,104,051

3,787,903

9,025,271

37,383,498

1,276,041

3,298,016

14,834,869

1,321,076

3,101,276

14,426,991

8,106

1,216

22,519

1,312,970

3,102,492

14,404,472

82,682

144,927

512,962

1,230,288

2,957,565

13,891,510

ANALYSIS OF EXAMINATIONS OF INSURED BANKS 169

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 129. A p p ra isa l o f A ssets OF In su red Com m ercial B anks Exam ined in 1940— Continued

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

Loans, discounts, and overdrafts Fixed and miscellaneous assets

Number

of

banks Examiners’

Appraised value

Book

Value

Examiners’

Appraised value

Book

value

deductions

(net)1 Total Substandard

Not

criticized

deductions

(net)1 Total Substandard

I Not 

j criticized

All banks...................................... 13,437 17,037,342 112,990 16,924,352 1,053,724

(In thousand 

15,870,628

is of dollars) 

2,081,248 46,353 2,034,895 459,916 1,574,979

Banks with net sound

capital account per

$100 of appraised value

of assets of—

$0.00 or less.............................. 7 18,187

53,672

9,723,402

2,614

1,896

55,899

15,573

51,776

9,667,503

4,549

7,183

514,281

11,024

44,593

9,153,222

7,026

8,618

1,135,223

2,079

1,293

23,897

4,947

7,325

1,111,326

3,838

3,168

202,920

1,109

4,157

908,406

$0.01 to $4.99..........................

$5.00 to $9.99..........................

49

2,872

$10.00 to $14.99......................

$15.00 to $19.99......................

$20.00 to $24.99......................

6,112

2,829

1,032

5,493,788

1,141,520

358,368

40,439

9,304

3,452

5,453,349

1,132,216

354,916

370,240

103,443

37,085

5,083,109

1,028,773

317,831

660,599

167,953

69,659

13,119

5,247

1,433

647,480

162,706

68,226

148,448

61,025

31,023

499,032

101,681

37,203

$25.00 to $29.99......................

$30.00 to $34.99......................

$35.00 or m ore.........................

325

131

80

164,631

67,767

16,007

1,151

407

130

165,782

67,360

15,877

11,482

3,754

1,707

154,300

63,606

14,170

18,593

10,847

2,730

913

73

125

19,506

10,774

2,605

4,119

4,206

1,169

15,387

6,568

1,436

Banks with fixed and

substandard assets per

$100 o f appraised value

of assets of—

$0.00........................................... 46 39,583

8,598,506

5,415,909

1,688,780

737,899

275,716

18 39,565

8,573,479

5,379,977

1,667,482

723,322

271,019

39,565

8,351,290

5,002,563

1,462,209

606,771

218,953

569 153 7 9 9

752,268

707,973

256,824

151,758

65,702

7 9 9

691,696

573,241

166,348

82,389

28,934

$0.01 to $4.99..........................

$5.00 to $9.99..........................

5,022

4,481

2,116

1,005

418

25,027

35,932

21,298

14,577

4,697

222,189

377,414

205,273

116,551

52,066

755,034

721,065

265,027

159,902

68,804

2,766

13,092

8,203

8,144

3,102

60,572

134,732

90,476

69,369

36,768

$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 m ore.........................

200

75

74

151,232

63,509

66,208

4,610

3,105

3,726

146,622

60,404

62,482

39,181

18,970

22,080

107,441

41,434

40,402

40,635

27,455

42,757

2,850

3,517

4,832

37,785

23,938

37,925

25,190

17,163

25,646

12,595

6,775

12,279

170 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks w ith 3-year average n et cu rren t op eratin g earnings per $100 

o f tota l assets o f—

$-0.50 or less ........................

$-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 m ore...........................

Not available............................

Banks 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..........

17 2,441 106 2,335 310 2,025 1,696 355 1,341 966 375

59 22,582 515 22,067 1,515 20,552 4,433 768 3,665 1,516 2,149

997 3,274,273 13,120 3,261,153 111,310 3,149,843 395,068 6,371 388,697 70,943 317,754

4,094 8,553,988 59,150 8,494,838 534,418 7,960,420 1,128,401 25,445 1,102,956 230,611 872,345

4,605 3,609,242 31,199 3,578,043 292,654 3,285,389 410,741 11,834 398,907 119,170 279,737

2,305 1,088,277 6,315 1,081,962 83,526 998,436 97,397 1,217 96,180 28,253 67,927

848 290,919 1,614 289,305 19,787 269,518 19,703 230 19,473 6,472 13,001

299 105,704 596 105,108 6,573 98,535 20,486 44 20,442 1,063 19,379

194 84,995 344 84,651 3,532 81,119 2,966 75 2,891 900 1,991

19 4,921 31 4,890 99 4,791 357 14 343 22 321

385 19,388 322 19,066 2,400 16,666 1,768 156 1,612 629 983

2,230 228,331 2,136 226,195 21,340 204,855 15,027 929 14,098 4,246 9,852

3,086 572,561 3,381 569,180 43,099 526,081 38,181 1,181 37,000 10,135 26,865

3,022 1,000,316 5,894 994,422 70,058 924,364 78,110 2,107 76,003 20,130 55,873

2,169 1,283,919 10,137 1,273^782 98,022 1,175,760 126,164 5,275 120,889 36,109 84,780

1,483 1,723,204 13,173 1,710,031 134,914 1,575,117 208,013 6,954 201,059 65,031 136,028

516 1,266,521 .10,447 1,256,074 91,564 1,164,510 172,739 4,965 167,774 50,710 117,064

418 2,661,226 19,621 2,641,605 162,112 2,479,493 416,096 13,847 402,249 112,052 290,197

128 8,281,876 47,879 8,233,997 430,215 7,803,782 1,025,150 10,939 1,014,211 160,874 853,337

_ figu res 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.

N o t e : For banks included and explanation of terms, see pages 85-87.

Back figures— See the Annual Report for 1939, pages 158-61.

differ from examiners’ net deductions from total

ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 130. ASSET RATIOS OF INSURED COMMERCIAL BANKS EXAMINED IN 1940 tO

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 total assets (book value)

Cash and 

due from 

banks

Per $100 of securities (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

A ll b a n k s...................................... 13,437 $100.00 $ 0.34 $ 99.66 $ 3.92 $ 95.74 $100.00 $100.00 $ 0.26 $ 99.74 $ 4.56 $ 95.18

B anks w ith n et sou n d

capital per $100 o f

appraised value o f

assets o f—

$0.00 or less.............................. 7 100.00 14.30 85.70 25.95 59.75 100.00 100.00 12.54 87.46 23.65 63.81

$0.01 to $4.99.......................... 49 100.00 1.76 98.24 6.20 92.04 100.00 100.00 1.09 98.91 5.19 93.72

$5.00 to $9.99........................... 2,872 100.00 .27 99.73 2.96 96.77 100.00 100.00 .19 99.81 3.30 96.51

$10.00 to $14.99...................... 6,112 100.00 .44 99.56 4.56 95.00 100.00 100.00 .48 99.52 5.65 93.87

$15.00 to $19.99...................... 2,829 100.00 .77 99.23 8.36 90.87 100.00 100.00 1.00 99.00 10.27 88.73

$20.00 to $24.99...................... 1,032 100.00 .66 99.34 8.51 90.83 100.00 100.00 .76 99.24 8.38 90.86

$25.00 to $29.99...................... 325 100.00 2.85 2100.85 7.98 92.87 100.00 100.00 *1.18 2101.18 12.38 88.80

$30.00 to $34.99...................... 131 100.00 *5.70 2105.70 14.28 91.42 100.00 100.00 217.73 2117.73 29.95 87.78

$35.00 or m ore......................... 80 100.00 .89 99.11 16.36 82.75 100.00 100.00 .84 99.16 33.08 66.08

B anks w ith fixed and

substandard assets per

$100 o f appraised value

o f assets o f—

$0 00 . ............. 46 100.00 100.47 100.47 100.00 100.00 1.13 101.13 101.13

$0.01 to $4.99.......................... 5,022 100.00 .10 99.90 1.53 98.37 100.00 100.00 .09 99.91 2.24 97.67

$5.00 to $9.99.......................... 4,481 100.00 .37 99.63 4.75 94.88 100.00 100.00 .28 99.72 5.55 94.17

$10.00 to $14.99...................... 2,116 100.00 .93 99.07 9.22 89.85 100.00 100.00 .98 99.02 9.43 89.59

$15.00 to $19.99...................... 1,005 100.00 1.61 98.39 13.46 84.93 100.00 100.00 1.61 98.39 14.09 84.30

$20.00 to $24.99...................... 418 100.00 *.12 299.88 19.23 80.65 100.00 100.00 2 2.73 2102.73 24.95 77.78

$25.00 to $29.99...................... 200 100.00 2.86 97.14 23.42 73.72 100.00 100.00 2.98 97.02 21.50 75.52

$30.00 to $34.99...................... 75 100.00 4.76 95.24 27.78 67.46 100.00 100.00 3.74 96.26 25.25 71.01

$35.00 or more......................... 74 100.00 5.61 94.39 34.58 59.81 100.00 100.00 3.78 96.22 33.91 62.31

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
B anks w ith 3-year average n et cu rren t op e ratin g earnings per $100 

o f total assets o f—

$-0.50 or less............................ 17 100.00 5.83 94.17

$-0.01 to $-0.49........................ 59 100.00 2.06 97.94

$0.00 to $0.49........................... 997 100.00 .20 99.80

$0.50 to $0.99........................... 4,094 100.00 .34 99.66

$1.00 to $1.49.......................... 4,605 100.00 .61 99.39

$1.50 to $1.99........................... 2,305 100.00 .27 99.73

$2.00 to $2.49........................... 848 100.00 21.50 2101.50

$2.50 to $2.99........................... 299 100.00 .31 99.69

$3.00 or more............................ 194 100.00 .31 99.69

N ot available............................ 19 100.00 .31 99.69

B anks w ith deposits o f—

$100,000 or less........................ 385 100.00 1.24 98.76

$100,000 to $250,000.............. 2,230 100.00 .66 99.34

$250,000 to $500,000.............. 3,086 100.00 .45 99.55

$500,000 to $1,000,000.......... 3,022 100.00 .53 99.47

$1,000,000 to $2,000,000___ 2,169 100.00 .69 99.31

$2,000,000 to $5,000,000___ 1,483 100.00 .66 99.34

$5,000,000 to $10,000,000. .. 516 100.00 .58 99.42

$10,000,000 to $50,000,000. . 418 100.00 .34 99.66

More than $50,000,000.......... 128 100.00 .21 99.79

18.07

5.36

2.25

3.66

5.92

6.99

8.32

5.94

4.75

1.24

8.90

6.95

5.88

5.85 

6.04 

6.31

5.57

4.42

2.86

76.10 100.00 100.00 2.26 97.74 14.55 83.19

92.58 100.00 100.00 2.25 97.75 7.12 90.63

97.55 100.00 100.00 .24 99.76 3.29 96.47

96.00 100.00 100.00 .24 99.76 3.83 95.93

93.47 100.00 100.00 .70 99.30 6.85 92.45

92.74 100.00 100.00 2.00 2100.00 9.91 90.09

93.18 100.00 100.00 2 7.87 2107.87 17.91 89.96

93.75 100.00 100.00 .01 99.99 13.35 86.64

94.94 100.00 100.00 .15 100.15 11.99 88.16

98.45 100.00 100.00 .02 99.98 1.48 98.50

89.86 100.00 100.00 .29 99.71 8.65 91.06

92.39 100.00 100.00 .20 99.80 8.16 91.64

93.67 100.00 100.00 .42 99.58 7.53 92.05

93.62 100.00 100.00 .77 99.23 8.12 91.11

93.27 100.00 100.00 .84 99.16 7.40 91.76

93.03 100.00 100.00 .84 99.16 7.56 91.60

93.85 100.00 100.00 .61 99.39 6.26 93.13

95.24 100.00 100.00 *.ou 2100.04 4.67 95.37

96.93 100.00 100.00 .16 99.84 | 3.56 96.28

-3

COANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 130. A sse t R a tio s o f In su red Com m ercial B anks Exam ined in 1940— Continued

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED a n d SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,

AND AMOUNT OF DEPOSITS

All b a n k s......................................

Banks w ith n et sound 

capital per $100 of 

o f appraised value of 

assets o f—

$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 m ore.........................

Banks w ith fixed and 

substandard assets per 

$100 o f appraised value 

o f assets o f—

$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 m ore.........................

Per $100 of loans (book value)

imber

of

anks Book

value

Examiners’

deductions

(net)1

Appraised value

Book

value

Examiners’

deductions

(net)1

Appraised value

Total Substandard

Not

criticized Total | Substandard

N ot

criticized

13,437 $100.00 $ 0.66 $ 99.34 $ 6.18 $ 93.16 $100.00 $ 2.23 $ 97.77 $ 22.10 $ 75.67

7 100.00 14.37 85.63 25.01 60.62 100.00 29.59 70.41 54.63 15.78

49 100.00 3.53 96.47 13.38 83.09 100.00 15.00 85.00 36.76 48.24

2,872 100.00 .57 99.43 5.29 94.14 100.00 2.11 97.89 17.87 80.02

6,112 100.00 .74 99.26 6.74 92.52 100.00 1.99 98.01 22.47 75.54

2,829 100.00 .82 99.18 9.06 90.12 100.00 3.12 96.88 36.33 60.55

1,032 100.00 .96 99.04 10.35 88.69 100.00 2.06 97.94 44.54 53.40

325 100.00 2.70 2100.70 6.97 93.73 100.00 H.91 2104.91 22.15 82.76

131 100.00 .60 99.40 5.54 93.86 100.00 .67 99.33 38.78 60.55

80 100.00 .81 99.19 10.66 88.53 100.00 4.58 95.42 42.82 52.60

46 100.00 .05 99.95 99.95 100.00 26.89 126.89 126.89

5,022 100.00 .29 99.71 2.58 97.13 100.00 .37 99.63 8.02 91.61

4,481 100.00 .66 99.34 6.97 92.37 100.00 1.82 98.18 18.69 79.49

2,116 100.00 1.26 98.74 12.16 86.58 100.00 3.10 96.90 34.14 62.76

1,005 100.00 1.98 98.02 15.79 82.23 100.00 5.09 94.91 43.38 51.53

418 100.00 1.70 98.30 18.88 79.42 100.00 4.51 95.49 53.44 42.05

200 100.00 3.05 96.95 25.91 71.04 100.00 7.01 92.99 61.99 31.00

75 100.00 4.89 95.11 29.87 65.24 100.00 12.81 87.19 62.51 24.68

74 100.00 5.63 94.37 33.35 61.02 100.00 11.30 88.70 59.98 28.72

Per $100 of fixed and miscellaneous assets (book value)

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 less............................

$-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 m ore............................

N ot 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 4.34 95.66 12.70 82.96 100.00 20.93 79.07 56.96 22.11

59 100.00 2.28 97.72 6.71 91.01 100.00 17.32 82.68 34.20 48.48

997 100.00 .40 99.60 3.40 96.20 100.00 1.61 98.39 17.96 80.43

4,094 100.00 .69 99.31 6.25 93.06 100.00 2.25 97.75 20.44 77.31

4,605 100.00 .86 99.14 8.11 91.03 100.00 2.88 97.12 29.01 68.11

2,305 100.00 .58 99.42 7.68 91.74 100.00 1.25 98.75 29.01 69.74

848 100.00 .55 99.45 6.80 92.65 100.00 1.17 98.83 32.85 65.98

299 100.00 .56 99.44 6.22 93.22 100.00 .21 99.79 5.19 94.60

194 100.00 .40 99.60 4.16 95.44 100.00 2.53 97.47 30.34 67.13

19 100.00 .63 99.37 2.01 97.36 100.00 3.92 96.08 6.16 89.92

385 100.00 1.66 98.34 12.38 85.96 100.00 8.82 91.18 35.58 55.60

2,230 100.00 .94 99.06 9.35 89.71 100.00 6.18 93.82 28.26 65.56

3,086 100.00 .59 99.41 7.53 91.88 100.00 3.09 96.91 26.54 70.37

3,022 100,00 .59 99.41 7.00 92.41 100.00 2.70 97.30 25.77 71.53

2,169 100.00 .79 99.21 7.63 91.58 100.00 4.18 95.82 28.62 67.20

1,483 100.00 .76 99.24 7.83 91.41 100.00 3.34 96.66 31.26 65.40

516 100.00 .82 99.18 7.23 91.95 100.00 2.87 97.13 29.36 67.77

418 100.00 ! .74 99.26 6.09 93.17 100.00 3.33 96.67 26.93 69.74

128 100.00 .58 99.42 5.19 94.23 100.00 1.07 98.93 15.69 83.24

1 Figures m italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total assets differ fro n 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 pages 87-88.

N o t e : For banks included and explanation of terms, see pages 85-87.

Pack figures— See the Annual Report for 1939, pages 162-65.

Or ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 131. APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1940 

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

(Amounts in thousands of dollars)

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............... 13,437 65,184,983 219,099 64,965,884 2,552,494 62,413,390 23,308,292 22,758,101 59,756 22,698,345 1,038,854 21,659,491

FDIC District

District 1 ................................... 487 3,632,309 29,201 3,603,108 173,707 3,429,401 1,309,689 985,204 6,725 978,479 68,645 909,834

District 2 ................................... 1,119 23,348,412 94,176 23,254,236 789,995 22,464,241 9,114,402 8,705,303 34,007 8,671,296 378,028 8,293,268

District 3 ................................... 1,725 8,643,825 52,653 8,591,172 629,143 7,962,029 2,704,278 3,254,396 20,389 3,234,007 286,782 2,947,225

District 4 ................................... 1,010 2,975,415 7,443 2,967,972 100,245 2,867,727 1,050,607 869,603 2,602 867,001 38,702 828,299

District 5 ................................... 977 2,296,295 7,103 2,303,398 87,369 2,216,029 896,759 626,102 10,6 hi 636,743 34,124 602,619

District 6 ................................... 1,450 3,149,391 6,055 3,143,336 120,725 3,022,611 1,135,920 928,264 859 927,405 49,676 877,729

District 7 ................................... 1,458 3,884,243 7,230 3,877,013 123,042 3,753,971 1,322,456 1,471,205 3,332 1,467,873 46,185 1,421,688

District 8 ................................... 1,409 6,126,766 3,389 6,123,377 142,375 5,981,002 2,299,268 2,392,821 1+00 2,393,221 65,216 2,328,005

District 9 ................................... 1,068 1,415,832 1,762 1,414,070 24,464 1,389,606 451,504 461,616 163 461,453 9,786 451,667

District 10................................. 1,393 1,768,446 3,183 1,765,263 36,137 1,729,126 734,346 458,506 167 458,673 6,896 451,777

District 11................................. 832 1,956,099 2,707 1,953,392 34,519 1,918.873 850,986 476,991 273 476,718 9,762 466,956

District 12................................. 509 5,987,950 18,403 5,969,547 290,773 5,678,774 1,438,077 2,128,090 2,614 2,125,476 45,052 2,080,424

State

Alabama.................................... 209 380,877 1,405 379,472 19,343 360,129 136,292 101,871 265 101,606 3,734 97,872

Arizona...................................... 12 99,407 114 99,293 1,642 97,651 35,100 27,045 65 26,980 436 26,544

Arkansas.................................... 210 216,753 496 216,257 6,275 209,982 91,413 54,500 125 54,375 2,447 51,928

California.................................. 197 4,749,784 17,294 4,732,490 270,855 4,461,635 1,019,705 1,730,200 2,191 1,728,009 39,092 1,688,917

Colorado.................................... 139 391,978 646 391,332 6,840 384,492 198,492 94,103 111 94,214 2,676 91,538

Connecticut.............................. 99 629,566 4,432 625,134 38,341 586,793 213,850 183,353 692 182,661 8,255 174,406

Delaware.................................... 42 245,659 1,606 244,053 14,542 229,511 89,029 83,196 1,012 82,184 7,502 74,682

District of Columbia.............. 22 433,954 1,182 432,772 12,094 420,678 157,285 134,978 545 134,433 3,935 130,498

Florida........................................ 162 503,804 793 503,011 11,187 491,824 222,836 159,142 406 158,736 5,230 153,506

Georgia...................................... 267 579,215 10,1+83 589,698 30,689 559,009 210,526 111,203 11,31+6 122,549 17,925 104,624

Idaho.......................................... 48 107,853 17 107,870 944 106,926 32,213 39,790 21 39,769 297 39,472

Illinois........................................ 823 5,380,830 3,158 5,377,672 117,644 5,260,028 2,069,413 2,211,058 50 2,211,008 60,483 2,150,525

Indiana...................................... 477 1,036,443 2,528 1,033,915 41,911 992,004 337,905 371,200 875 370,325 13,986 356,339

Iow a............................................ 586 745,936 230 745,706 24,732 720,974 229,855 181,764 1+1+8 182,212 4,732 177,480

Kansas........................................ 451 404,695 845 403,850 9,799 394,051 150,765 108,562 68 108,630 848 107,782

176 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....................................

Minnesota..................................

Mississippi.................................

Missouri.....................................

M ontana....................................

Nebraska....................................

N evada......................................

New Hampshire.......................

New Jersey................................

New M exico..............................

New Y ork..................................

North Carolina........................

North D akota..........................

O hio............................................

Oklahoma..................................

Oregon........................................

Pennsylvania............................

Rhode Island............................

South Carolina.........................

South Dakota...........................

Tennessee , , , , ..........................

Texas..........................................

U tah............................................

Verm ont.....................................

Virginia................................

Washington...............................

West Virginia...........................

W isconsin..................................

W yom ing...................................

551,907 1,736 550,171

601,094 692 600,402

230,924 3,253 227,671

752,583 1,499 751,084

2,230,149 15,303 2,214,846

1,757,751 757 1,756,994

1,049,500 740 1,048,760

231,304 489 230,815

1,746,429 1,959 1,744,470

165,932 180 165,752

366,365 643 365,722

47,505 58 47,447

103,042 1,118 101,924

2,028,863 19,290 2,009,573

68,161 197 67,964

21,073,890 73,280 21,000,610

534,095 418 533,677

86,844 516 86,328

2,812,751 5,802 2,806,949

529,272 903 528,369

343,194 257 342,937

5,831,075 46,853 5,784,222

302,880 2,228 300,652

173,043 180 172,863

113,557 326 113,231

634,302 1,864 632,438

1,788,531 2,396 1,786,135

173,148 173,148

135,749 ........ 2,868 132,881

721,608 2,004 719,604

566,465 810 565,655

360,132 2,161 357,971

1,090,048 3,944 1,086,104

76,136 146 75,990

372

144

59

174

185

424

643

195

580

111

363

11

56

352

40

725

219

150

680

382

69

1,045

16

113

164

288

780

54

72

308

130

174

557

58

27,184 522,987 179,893 141,296

13,662 586,740 240,445 185,389

17,772 209,899 68,728 77,765

23,853 727,231 261,927 298,666

81,361 2,133,485 886,961 548,208

28,827 1,728,167 626,064 682,086

16,210 1,032,550 325,798 351,793

12,490 218,325 86,660 68,497

57,065 1,687,405 642,600 587,509

2,619 163,133 69,711 54,048

7,975 357,747 128,909 103,834

397 47,050 15,402 16,179

5,168 96,756 28,940 32,806

157,739 1,851,834 581,243 772,756

1,065 66,899 23,735 19,078

617,713 20,382,897 8,444,131 7,849,350

13,573 520,104 192,767 155,046

3,057 83,271 24,796 24,841

107,874 2,699,075 941,614 904,440

9,795 518,574 225,934 134,608

4,399 338,538 117,792 121,211

521,268 5,262,954 1,762,665 2,349,957

13,733 286,919 83,222 103,043

2,631 170,232 79,255 36,002

2,579 110,652 31,199 30,934

30,200 602,238 222,014 144,960

31,812 1,754,323 792,151 430,868

2,408 170,740 61,814 47,658

17,332 115,549 27,988 40,028

26,986 692,618 226,897 166,894

11,770 553,885 191,151 173,052

21,107 336,864 132,475 78,018

52,304 1,033,800 358,486 417,918

1,728 74,262 30,246 17,398

311 140,985 7,977 133,008

34 185,355 2,754 182,601

1,043 76,722 8,380 68,342

789 297,877 11,483 286,394

2,718 545,490 37,112 508,378

352 681,734 10,844 670,890

43 351,750 7,445 344,305

1 68,498 4,482 64,016

161 587,348 30,231 557,117

27 54,021 841 53,180

6 103,828 1,124 102,704

36 16,143 184 15,959

544 32,262 2,897 29,365

3,796 768,960 51,391 717,569

3 19,081 100 18,981

29,200 7,820,150 319,135 7,501,015

103 154,943 7,250 147,693

27 24,814 706 24,108

2,133 902,307 41,661 860,646

5 134,603 2,069 132,534

55 121,156 1,153 120,003

18,256 2,331,701 245,123 2,086,578

536 102,507 6,603 95,904

73 35,929 1,552 34,377

66 30,868 794 30,074

262 144,698 9,022 135,676

211 430,657 9,225 421,432

21 47,637 542 47,095

1,191 38,837 5,398 33,439

483 166,411 8,141 158,270

288 172,764 3,786 168,978

609 77,409 6,341 71,068

2,106 415,812 21,353 394,459

1 17,397 177 17,220

ANALYSIS OF EXAMINATIONS OF INSURED BANKS 177

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 131. APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1940— Continued

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

(Amounts in thousands of dollars)

Loans, discounts, and overdrafts Fixed and miscellaneous assets

Number

of

banks Book

value

Examiners’

Appraised value

Book

value

Examiners’

Appraised value

deductions

(net)1 Total j Substandard

Not

criticized

deductions 

(net)1 Total Substandard

Not

criticized

U nited States— t o ta l............... 13,437 17,037,342 112,990 16,924,352 1,053,724 15,870,628 2,081,248 46,353 2,034,895 459,916 1,574,979

FDIC D istrict

District 1 ................................... 487 1,190,377 16,974 1,173,403 73,344 1,100,059 147,039 5,502 141,537 31,718 109,819

District 2 ................................... 1,119 4,834,242 40,032 4,794,210 272,430 4,521,780 694,465 20,137 674,328 139,537 534,791

District 3 ................................... 1,725 2,291,041 22,994 2,268,047 200,521 2,067,526 394,110 9,270 384,840 141,840 243,000

District 4 ................................... 1,010 951,145 3,580 947,565 42,136 905,429 104,060 1,261 102,799 19,407 83,392

District 5 ................................... 977 690,166 2,682 687,484 32,816 654,668 83,268 856 82,412 20,429 61,983

District 6 ................................... 1,450 993,218 4,092 989,126 54,090 935,036 91,989 1,104 90,885 16,959 73,926

District 7 ................................... 1,458 996,325 2,596 993,729 55,983 937,746 94,257 1,302 92,955 20,874 72,081

District 8 ................................... 1,409 1,332,735 3,091 1,329,644 60,833 1,268,811 101,942 698 101,244 16,326 84,918

District 9 ................................... 1,068 467,220 1,151 466,069 11,823 454,246 35,492 448 35,044 2,855 32,189

District 10................................. 1,393 535,872 2,815 533,057 26,880 506,177 39,722 535 39,187 2,361 36,826

District 11................................. 832 568,298 2,190 566,108 18,742 547,366 59,824 244 59,580 6,015 53,565

District 12................................. 509 2,186,703 10,793 2,175,910 204,126 1,971,784 235,080 4,996 230,084 41,595 188,489

State

Alabama.................................... 209 124,203 740 123,463 9,984 113,479 18,511 400 18,111 5,625 12,486

Arizona...................................... 12 33,702

65,819

49 33,653

65,546

624 33,029 3,560 3,560 582 2,978

Arkansas.................................... 210 273 2,942 62,604 5,021 98 4,923 886 4,037

California.................................. 197 1,794,989 10,136 1,784,853 192,073 1,592,780 204,890 4,967 199,923 39,690 160,233

Colorado.................................... 139 93,308 674 92,634 3,734 88,900 6,075 83 5,992 430 5,562

Connecticut.............................. 99 203,478 2,645 200,833 18,639 182,194 28,885 1,095 27,790 11,447 16,343

Delaware................................... 42 67,840 354 67,486 5,534 61,952 5,594 240 5,354 1,506 3,848

District of Columbia.............. 22 118,876 471 118,405 4,913 113,492 22,815 166 22,649 3,246 19,403

Florida....................................... 162 106,115 253 105,862 3,690 102,172 15,711 134 15,577 2,267 13,310

Georgia...................................... 267 235,804 650 235,154 7,560 227,594 21,682 213 21,469 5,204 16,265

Idaho.......................................... 48 33,408 23 33,431 554 32,877 2,442 15 2,457 93 2,364

Illinois........................................ 823 1,013,030 2,086 1,010,944 42,633 968,311 87,329 1,022 86,307 14,528 71,779

Indiana...................................... 477 297,160 1,110 296,050 18,872 277,178 30,178 543 29,635 9,053 20,582

Iow a............................................ 586 319,705 1,005 318,700 18,200 300,500 14,612 327 14,939 1,800 13,139

Kansas....................................... 451 134,819 741 134,078 7,788 126,290 10,549 172 10,377 1,163 9,214

178 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky...........

Louisiana...........

M aine.................

M aryland...........

Massachusetts. .

Michigan............

Minnesota..........

Mississippi.........

Missouri.............

M ontana.............

Nebraska............

N evada...............

New Hampshire

New Jersey........

New M exico.. . .

New Y ork..........

North Carolina. 

North Dakota. .

Ohio.....................

Oklahoma...........

Oregon................

Pennsylvania. . . 

Rhode Island. . . 

South Carolina.. 

South D ak ota...

Tennessee...........

Texas

U tah....................

Verm ont.............

Virginia...............

Washington 

West Virginia...

W isconsin...........

W yom ing...........

3 7 2 2 1 4 ,8 3 0 1 ,1 3 0 2 1 3 ,7 0 0 1 4 ,9 9 4 1 9 8 ,7 0 6 1 5 ,8 8 8 2 9 5 1 5 ,5 9 3 4 ,2 1 3 1 1 ,3 8 0

1 4 4 1 5 5 ,8 6 2 6 98 1 5 5 ,1 6 4 5 ,5 6 2 1 4 9 ,6 0 2 1 9 ,3 9 8 uo 1 9 ,4 3 8 5 ,3 4 6 1 4 ,0 9 2

59 7 8 ,0 2 9 1 ,6 4 1 7 6 ,3 8 8 6 ,8 8 5 6 9 ,5 0 3 6 ,4 0 2 5 69 5 ,8 3 3 2 ,5 0 7 3 ,3 2 6

1 7 4 1 7 2 ,1 8 6 6 3 0 1 7 1 ,5 5 6 9 ,4 6 6 1 6 2 ,0 9 0 1 9 ,8 0 4 8 0 1 9 ,7 2 4 2 ,9 0 4 1 6 ,8 2 0

1 8 5 7 1 0 ,5 3 0 9 ,8 6 4 7 0 0 ,6 6 6 3 3 ,1 4 3 6 6 7 ,5 2 3 8 4 ,4 5 0 2 ,7 2 1 8 1 ,7 2 9 1 1 ,1 0 6 7 0 ,6 2 3

4 2 4 4 1 5 ,3 8 2 3 99 4 1 4 ,9 8 3 1 3 ,7 0 0 4 0 1 ,2 8 3 3 4 ,2 1 9 6 3 4 ,2 1 3 4 ,2 8 3 2 9 ,9 3 0

6 4 3 3 4 7 ,6 3 5 5 54 3 4 7 ,0 8 1 7 ,1 1 6 3 3 9 ,9 6 5 2 4 ,2 7 4 1 43 2 4 ,1 3 1 1 ,6 4 9 2 2 ,4 8 2

1 9 5 6 8 ,1 8 2 341 6 7 ,8 4 1 6 ,0 2 0 6 1 ,8 2 1 7 ,9 6 5 1 49 7 ,8 1 6 1 ,9 8 8 5 ,8 2 8

5 8 0 4 6 9 ,3 1 2 1 ,2 4 9 4 6 8 ,0 6 3 1 9 ,9 1 6 4 4 8 ,1 4 7 4 7 ,0 0 8 5 49 4 6 ,4 5 9 6 ,9 1 8 3 9 ,5 4 1

1 11 3 8 ,0 4 4 1 24 3 7 ,9 2 0 1 ,4 7 4 3 6 ,4 4 6 4 ,1 2 9 2 9 4 ,1 0 0 3 0 4 3 ,7 9 6

3 6 3 1 2 4 ,5 1 8 4 9 8 1 2 4 ,0 2 0 6 ,3 1 2 1 1 7 ,7 0 8 9 ,1 0 4 1 39 8 ,9 6 5 5 39 8 ,4 2 6

11 1 4 ,5 7 2 2 0 1 4 ,5 5 2 1 96 1 4 ,3 5 6 1 ,3 5 2 2 1 ,3 5 0 17 1 ,3 3 3

56 3 8 ,1 7 4 4 1 9 3 7 ,7 5 5 1 ,8 6 5 3 5 ,8 9 0 3 ,1 2 2 155 2 ,9 6 7 4 0 6 2 ,5 6 1

3 5 2 5 5 5 ,3 6 3 8 ,1 6 4 5 4 7 ,1 9 9 6 3 ,8 7 9 4 8 3 ,3 2 0 1 1 9 ,5 0 1 7 ,3 3 0 1 1 2 ,1 7 1 4 2 ,4 6 9 6 9 ,7 0 2

4 0 2 4 ,1 3 1 2 0 5 2 3 ,9 2 6 8 9 9 2 3 ,0 2 7 1 ,2 1 7 5 1 ,2 2 2 66 1 ,1 5 6

7 2 5 4 ,2 1 1 ,0 3 9 3 1 ,5 1 5 4 ,1 7 9 ,5 2 4 2 0 3 ,0 1 6 3 ,9 7 6 ,5 0 8 5 6 9 ,3 7 0 1 2 ,5 6 5 5 5 6 ,8 0 5 9 5 ,5 6 2 4 6 1 ,2 4 3

2 1 9 1 7 2 ,2 0 9 2 6 9 1 7 1 ,9 4 0 3 ,8 6 6 1 6 8 ,0 7 4 1 4 ,0 7 3 4 6 1 4 ,0 2 7 2 ,4 5 7 1 1 ,5 7 0

1 5 0 3 3 ,6 5 1 3 0 8 3 3 ,3 4 3 1 ,7 8 1 3 1 ,5 6 2 3 ,5 5 6 181 3 ,3 7 5 5 70 2 ,8 0 5

6 8 0 8 6 1 ,9 6 8 2 ,0 5 6 8 5 9 ,9 1 2 4 0 ,5 8 1 8 1 9 ,3 3 1 1 0 4 ,7 2 9 1 ,6 1 3 1 0 3 ,1 1 6 2 5 ,6 3 2 7 7 ,4 8 4

3 8 2 1 5 6 ,2 2 6 779 1 5 5 ,4 4 7 7 ,5 5 7 1 4 7 ,8 9 0 1 2 ,5 0 4 1 19 1 2 ,3 8 5 1 69 1 2 ,2 1 6

69 9 5 ,1 9 8 1 72 9 5 ,0 2 6 2 ,7 5 6 9 2 ,2 7 0 8 ,9 9 3 30 8 ,9 6 3 4 9 0 8 ,4 7 3

1 ,0 4 5 1 ,4 2 9 ,0 7 3 2 0 ,9 3 9 1 ,4 0 8 ,1 3 4 1 5 9 ,9 3 9 1 ,2 4 8 ,1 9 5 2 8 9 ,3 8 0 7 ,6 5 8 2 8 1 ,7 2 2 1 1 6 ,2 0 6 1 6 5 ,5 1 6

16 9 9 ,5 9 0 1 ,2 8 6 9 8 ,3 0 4 4 ,5 8 4 9 3 ,7 2 0 1 7 ,0 2 5 4 0 6 1 6 ,6 1 9 2 ,5 4 6 1 4 ,0 7 3

1 1 3 5 3 ,9 8 7 4 4 5 3 ,9 4 3 6 8 3 5 3 ,2 6 0 3 ,7 9 9 63 3 ,7 3 6 3 9 6 3 ,3 4 0

1 6 4 4 7 ,8 9 0 1 66 4 7 ,7 2 4 1 ,4 5 1 4 6 ,2 7 3 3 ,5 3 4 9 4 3 ,4 4 0 3 3 4 3 ,1 0 6

2 8 8 2 4 3 ,2 5 7 1 ,4 4 0 2 4 1 ,8 1 7 1 6 ,2 3 8 2 2 5 ,5 7 9 2 4 ,0 7 1 1 62 2 3 ,9 0 9 4 ,9 4 0 1 8 ,9 6 9

7 8 0 5 1 0 ,4 6 5 1 ,9 3 5 5 0 8 ,5 3 0 1 7 ,2 2 0 4 9 1 ,3 1 0 5 5 ,0 4 7 2 5 0 5 4 ,7 9 7 5 ,3 6 7 4 9 ,4 3 0

54 5 9 ,1 4 5 13 5 9 ,1 5 8 1 ,4 1 9 5 7 ,7 3 9 4 ,5 3 1 8 4 ,5 3 9 4 4 7 4 ,0 9 2

72 6 0 ,5 7 6 1 ,1 1 9 5 9 ,4 5 7 8 ,2 2 8 5 1 ,2 2 9 7 ,1 5 7 5 5 8 6 ,5 9 9 3 ,7 0 6 2 ,8 9 3

3 0 8 3 0 0 ,6 1 1 1 ,3 0 6 2 9 9 ,3 0 5 1 3 ,9 9 2 2 8 5 ,3 1 3 2 7 ,2 0 6 2 1 5 2 6 ,9 9 1 4 ,8 5 3 2 2 ,1 3 8

1 3 0 1 8 9 ,3 8 9 501 1 8 8 ,8 8 8 7 ,1 2 5 1 8 1 ,7 6 3 1 2 ,8 7 3 21 1 2 ,8 5 2 8 5 9 1 1 ,9 9 3

1 7 4 1 3 3 ,2 7 6 8 59 1 3 2 ,4 1 7 9 ,2 1 7 1 2 3 ,2 0 0 1 6 ,3 6 3 6 9 3 1 5 ,6 7 0 5 ,5 4 9 1 0 ,1 2 1

5 5 7 2 8 3 ,7 8 3 1 ,0 8 6 2 8 2 ,6 9 7 2 3 ,4 1 3 2 5 9 ,2 8 4 2 9 ,8 6 1 7 5 2 2 9 ,1 0 9 7 ,5 3 8 2 1 ,5 7 1

58 2 7 ,0 0 3 123 2 6 ,8 8 0 1 ,4 9 1 2 5 ,3 8 9 1 ,4 8 9 2 2 1 ,4 6 7 60 1 ,4 0 7

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.

N o t e : F o r b a n k s in c lu d e d a n d e x p la n a tio n o f te r m s , see p a g es 8 5 -8 8 .

Bach figures— See the Annual Report for 1939, pages 166-69.

differ from examiners’ net deductions from total

-3ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 132. ASSET RATIOS OF INSURED COMMERCIAL BANKS EXAMINED IN 1940 

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

Number

of

banks

Per $100 of total assets (book value)

Cash and 

due from 

banks

Per $100 of securities (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............... 13,437 $100.00 $ 0.34 $ 99.66 $ 3.92 $ 95.74 $100.00 $100.00 $ 0.26 $ 99.74 $ 4.56 $ 95.18

FDIC District

District 1 ................................... 437 100.00 .80 99.20 4.78 94.42 100.00 100.00 .68 99.32 6.97 92.35

District 2 ................................... 1,119 100.00 .40 99.60 3.38 96.22 100.00 100.00 .39 99.61 4.34 95.27

District 3 ................................... 1,725 100.00 .61 99.39 7.28 92.11 100.00 100.00 .63 99.37 8.81 90.56

District 4 ................................... 1,010 100.00 .25 99.75 3.37 96.38 100.00 100.00 .30 99.70 4.45 95.25

District 5 ................................... 977 100.00 .31 100.31 3.80 96.51 100.00 100.00 1.70 101.70 5.45 96.25

District 6 ................................... 1,450 100.00 .19 99.81 3.83 95.98 100.00 100.00 .09 99.91 5.35 94.56

District 7 ................................... 1,458 100.00 .19 99.81 3.17 96.64 100.00 100.00 .23 99.77 3.14 96.63

District 8 ................................... 1,409 100.00 .06 99.94 2.32 97.62 100.00 100.00 .02 100.02 2.73 97.29

District 9 ................................... 1,068 100.00 .12 99.88 1.73 98.15 100.00 100.00 .04 99.96 2.12 97.84

District 10................................. 1,393 100.00 .18 99.82 2.04 97.78 100.00 100.00 .04 100.04 1.50 98.54

District 11................................. 832 100.00 .14 99.86 1.76 98.10 100.00 100.00 .06 99.94 2.05 97.89

District 12................................. 509 100.00 .31 99.69 4.86 94.83 100.00 100.00 .12 99.88 2.12 97.76

State

Alabama.................................... 209 100.00 .37 99.63 5.08 94.55 100.00 100.00 .26 99.74 3.67 96.07

Arizona...................................... 12 100.00 .11 99.89 1.65 98.24 100.00 100.00 .24 99.76 1.61 98.15

Arkansas.................................... 210 100.00 .23 99.77 2.90 96.87 100.00 100.00 .23 99.77 4.49 95.28

California.................................. 197 100.00 .36 99.64 5.70 93.94 100.00 100.00 .13 99.87 2.26 97.61

Colorado.................................... 139 100.00 .16 99.84 1.74 98.10 100.00 100.00 .12 100.12 2.84 97.28

Connecticut.............................. 99 100.00 .70 99.30 6.09 93.21 100.00 100.00 .38 99.62 4.50 95.12

Delaware.................................... 42 100.00 .65 99.35 5.92 93.43 100.00 100.00 1.22 98.78 9.02 89.76

District of Columbia.............. 22 100.00 .27 99.73 2.79 96.94 100.00 100.00 .40 99.60 2.92 96.68

Florida........................................ 162 100.00 .16 99.84 2.22 97.62 100.00 100.00 .26 99.74 3.29 96.45

Georgia...................................... 267 100.00 1.81 101.81 5.30 96.51 100.00 100.00 10.20 110.20 16.12 94.08

Idaho.......................................... 48 100.00 .02 100.02 .88 99.14 100.00 100.00 .05 99.95 .75 99.20

Illinois........................................ 823 100.00 .06 99.94 2.19 97.75 100.00 100.00 .00 100.00 2.74 97.26

Indiana...................................... 477 100.00 .24 99.76 4.04 95.72 100.00 100.00 .24 99.76 3.77 95.99

Iow a............................................ 586 100.00 .03 99.97 3.32 96.65 100.00 100.00 .25 100.25 2.60 97.65

Kansas........................................ 451 100.00 .21 99.79 2.42 97.37 100.00 100.00 .06 100.06 .78 99.28

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky...........

Louisiana...........

M aine.................

M aryland...........

Massachusetts. .

M ichigan............

Minnesota..........

Mississippi.........

Missouri.............

M ontana............

Nebraska............

N evada...............

New Hampshire

New Jersey........

New M exico.. ..

New Y ork..........

North Carolina. 

North D akota. .

Ohio.....................

Oklahoma...........

Oregon................

Pennsylvania. . . 

Rhode Island . . . 

South Carolina. 

South D akota..

Tennessee...........

Texas...................

U tah....................

Verm ont.............

Virginia...............

Washington 

West Virginia...

Wisconsin...........

W yom ing............

372

144

59

174

185

424

643

195

580

111

363

11

56

352

40

725

219

150

680

69

1,045

16

113

164

288

780

54

72

308

130

174

557

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

99.69

99.88 

98.59 

99.80 

99.31

99.96

99.93

99.79

99.89

99.89

99.82

99.88

98.92 

99.05 

99.71

99.65

99.92 

99.41

99.79

99.93

99.20

99.26

99.90

99.71

99.71 

99.87

100.00

97.89

99.72

99.40

99.64

99.81

4.93

2.27 

7.70

3.17 

3.65

1.64

1.54 

5.40

3.27 

1.58

2.18 

.84

5.02

7.77 

1.56

2.93

2.54

3.52

3.84

1.85

1.28

8.94

4.53 

1.52

2.27

4.76

1.78

1.3 

12.77

3.74

2.08

5.86 

4.80

2.27

94.76 100.00 100.00 .22 99.78 5.65 94.13

97.61 100.00 100.00 .02 99.98 1.49 98.49

90.89 100.00 100.00 1.34 98.66 10.78 87.88

96.63 100.00 100.00 .26 99.74 3.84 95.90

95.66 100.00 100.00 .50 99.50 6.77 92.73

98.32 100.00 100.00 .05 99.95 1.59 98.36

98.39 100.00 100.00 .01 99.99 2.12 97.87

94.39 100.00 100.00 .00 100.00 6.54 93.46

96.62 100.00 100.00 .03 99.97 5.15 94.82

98.31 100.00 100.00 .05 99.95 1.56 98.39

97.64 100.00 100.00 .01 99.99 1.08 98.91

99.04 100.00 100.00 .22 99.78 1.14 98.64

93.90 100.00 100.00 1.66 98.34 8.83 89.51

91.28 100.00 100.00 .49 99.51 6.65 92.86

98.15 100.00 100.00 .02 100.02 .52 99.50

96.72 100.00 100.00 .37 99.63 4.07 95.56

97.38 100.00 100.00 .07 99.93 4.68 95.25

95.89 100.00 100.00 .11 99.89 2.84 97.05

95.95 100.00 100.00 .24 99.76 4.61 95.15

97.98 100.00 100.00 .00 100.00 1.54 98.46

98.65 100.00 100.00 .05 99.95 .95 99.00

90.26 100.00 100.00 .78 99.22 10.43 88.79

94.73 100.00 100.00 .52 99.48 6.41 93.07

98.38 100.00 100.00 .20 99.80 4.31 95.49

97.44 100.00 100.00 .21 99.79 2.57 97.22

94.95 100.00 100.00 .18 99.82 6.22 93.60

98.09 100.00 100.00 .05 99.95 2.14 97.81

98.61 100.00 100.00 .04 99.96 1.14 98.82

85.12 100.00 100.00 2.98 97.02 13.49 83.53

95.98 100.00 100.00 .29 99.71 4.88 94.83

97.78 100.00 100.00 .17 99.83 2.19 97.64

93.54 100.00 100.00 .78 99.22 8.13 91.09

94.84 100.00 100.00 .50 99.50 5.11 94.39

97.54 100.00 100.00 .01 99.99 1.02 98.97

00

I-* ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 132. 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 r c ia l B a n k s E x a m in e d i n 1940— Continued

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

Per $100 of loans (book value) Per $100 of fixed and miscellaneous assets (book value)

Number

of

banks Book

value

Examiners’

deductions

(net)1

Appraised value

Book

value

Examiners’

Appraised value

Total Substandard

Not

criticized

deductions

(net)1 Total Substandard

Not

criticized

United States— total............... 13,437 $100.00 $ 0.66 $ 99.34 $ 6.18 $ 93.16 $100.00 $ 2.23 $ 97.77 $ 22.10 $ 75.67

FDIC District

District 1 ................................. 487 100.00 1.43 98.57 6.16 92.41 100.00 3.74 96.26 21.57

20.09

35.99

18.65

74.69

77.01

61.66

80.14

District 2 ................................. 1,119 100.00 .83 99.17 5.64 93.53 100.00 2.90 97.10

District 3 . .......................... 1,725 100.00 1.00 99.00 8.75 90.25 100.00 2.35 97.65

98.79 District 4 .......................... 1,010 100.00 .38 99.62 4.43 95.19 100.00 1.21

District 5 .......................... 977 100.00 .39 99.61 4.75 94.86 100.00 1.03 98.97 24.53 74.44

80.36

76.47

83.31

District 6 .......................... 1,450

1,458

100.00 .41 99.59 5.45 94.14 100.00 1.20 98.80 18.44

22.15

16.01 District 7 .......................... 100.00 .26 99.74 5.62 94.12 100.00 1.38 98.62

District 8 .......................... 1,409 100.00 .23 99.77 4.56 95.21 100.00 .68 99.32

1,068 100.00 .25 99.75 2.53 97.22 100.00 1.26 98.74

98.65

99.59

97.87

8.04

5.94

10.05

17.69

90.70

92.71 

89.54 

80.18

1,393 100.00 .53 99.47 5.01 94.46 100.00 1.35

District 11................................. 832 100.00 .39 99.61 3.30 96.31 100.00 .41

District 12................................. 509 100.00 .49 99.51 9.33 90.18 100.00 2.13

State

Alabama ....................... 209 100.00 .60 99.40 8.04 91.36 100.00 2.16 97.84 30.39

16.35

67.45

83.65 12 100.00 .15 99.85 1.85 98.00 100.00 100.00

Arkansas .......................... 210 100.00 .41 99.59 4.47 95.12 100.00 1.95 98.05

97.58

98.63

17.65

19.37

7.08

80.40

78.21

91.55 California .......................... 197 100.00 .56 99.44 10.70 88.74 100.00 2.42

Colorado ........................ 139 100.00 .72 99.28 4.00 95.28 100.00 1.37

Connecticut .......................... 99 100.00 1.30 98.70 9.16 89.54 100.00 3.79 96.21

95.71

99.27

99.15

99.02

39.63

26.92

14.23

14.43

24.00

56.58

68.79

85.04

84.72

75.02

Delaware .......................... 42 100.00 .52 99.48 8.16 91.32 100.00 4.29

District of Columbia.............. 22

162

100.00

100.00

.40

.24

99.60

99.76

4.13

3.48

95.47

96.28

100.00

100.00

.73

.85

.98 267 100.00 .28 99.72 3.21 96.51 100.00

48 100.00 .07 100.07 1.66 98.41 100.00 .61

1.17

1.80

100.61

98.83

98.20

102.24

98.37

3.81

16.64

30.00

12.32

11.02

96.80

82.19

68.20 

89.92 

87.35

823 100.00 .21 99.79 4.21 95.58 100.00

477 100.00 .37 99.63 6.35 93.28 100.00

586 100.00 .31 99.69 5.69 94.00 100.00 2.2U

1.63 451 100.00 .55 99.45 5.78 93.67 100.00

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky................................... 372 100.00 .53 99.47 6.98 92.49 100.00 1.86 98.14 26.52 71.62

Louisiana................................... 144 100.00 .45 99.55 3.57 95.98 100.00 .21 100.21 27.56 72.65

M aine......................................... 59 100.00 2.10 97.90 8.82 89.08 100.00 8.89 91.11 39.16 51.95

M aryland................................... 174 100.00 .37 99.63 5.50 94.13 100.00 .40 99.60 14.66 84.94

Massachusetts.......................... 185 100.00 1.39 98.61 4.66 93.95 100.00 3.22 96.78 13.15 83.63

M ichigan.................................... 424 100.00 .10 99.90 3.30 96.60 100.00 .02 99.98 12.52 87.46

Minnesota.................................. 643 100.00 .16 99.84 2.05 97.79 100.00 .59 99.41 6.79 92.62

Mississippi................................. 195 100.00 .50 99.50 8.83 90.67 100.00 1.87 98.13 24.96 73.17

Missouri..................................... 580 100.00 .27 99.73 4.24 95.49 100.00 1.17 98.83 14.72 84.11

M ontana.................................... 111 100.00 .33 99.67 3.87 95.80 100.00 .70 99.30 7.36 91.94

Nebraska.................................... 363 100.00 .40 99.60 5.07 94.53 100.00 1.53 98.47 5.92 92.55

N evada....................................... 11 100.00 .14 99.86 1.35 98.51 100.00 .15 99.85 1.26 98.59

New Hampshire....................... 56 100.00 1.10 98.90 4.89 94.01 100.00 4.96 95.04 13.00 82.04

New Jersey................................ 352 100.00 1.47 98.53 11.50 87.03 100.00 6.13 93.87 35.54 58.33

New M exico.............................. 40 100.00 .85 99.15 3.73 95.42 100.00 .hi 100.41 5.42 94.99

New Y ork.................................. 725 100.00 .75 99.25 4.82 94.43 100.00 2.21 97.79 16.78 81.01

North Carolina........................ 219 100.00 .16 99.84 2.24 97.60 100.00 .33 99.67 17.46 82.21

North D akota.......................... 150 100.00 .92 99.08 5.29 93.79 100.00 5.09 94.91 16.03 78.88

Ohio............................................. 680 100.00 .24 99.76 4.71 95.05 100.00 1.54 98.46 24.47 73.99

Oklahoma.................................. 382 100.00 .50 99.50 4.84 94.66 100.00 .95 99.05 1.35 97.70

Oregon........................................ 69 100.00 .18 99.82 2.90 96.92 100.00 .33 99.67 5.45 94.22

Pennsylvania............................ 1,045 100.00 1.47 98.53 11.19 87.34 100.00 2.65 97.35 40.16 57,19

Rhode Island............................ 16 100.00 1.29 98.71 4.60 94.11 100.00 2.38 97.62 14.95 82.67

South Carolina......................... 113 100.00 .08 99.92 1.27 98.65 100.00 1.66 98.34 10.42 87.92

South D akota........................... 164 100.00 .35 99.65 3.03 96.62 100.00 2.66 97.34 9.45 87.89

Tennessee................................... 288 100.00 .59 99.41 6.68 92.73 100.00 .67 99.33 20.52 78.81

Texas.......................................... 780 100.00 .38 99.62 3.37 96.25 100.00 .45 99.55 9.75 89.80

U tah............................................ 54 100.00 .02 100.02 2.40 97.62 100.00 .18 100.18 9.87 90.31

Verm ont..................................... 72 100.00 1.85 98.15 13.58 84.57 100.00 7.80 92.20 51.78 40.42

Virginia...................................... 308 100.00 .43 99.57 4.65 94.92 100.00 .79 99.21 17.84 81.37

W ashington............................... 130 100.00 .26 99.74 3.76 95.98 100.00 .16 99.84 6.67 93.17

West Virginia............................ 174 100.00 .64 99.36 6.92 92.44 100.00 4.24 95.76 33.91 61.85

W isconsin................................ 557 100.00 .38 99.62 8.25 91.37 100.00 2.52 97.48 25.24 72.24

W yom ing................................... 58 100.00 .46 99.54 5.52 94.02 100.00 1.48 98.52 4.03 94.49

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.

N o t e : For banks included and explanation of terms, see pages 85-88.

Back figures— See the Annual Report for 1939, pages 170-73.

ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 133. DISTRIBUTION OF INSURED COMMERCIAL BANKS EXAMINED IN 1940 ACCORDING TO NET SOUND CAPITAL RATIO

BANKS GROUPED BY FIXED AND SUBSTANDARD ASSETS RATIO, RATE OP AVERAGE NET EARNINGS, AND AMOUNT OF DEPOSITS

Banks with net sound capital per $100 of appraised value of assets of—

All

banks $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

A ll b a n k s ............................................................. 13,437 7 49 2,872 6,112 2,829 1,032 325 131 80

B anks w ith fixed and substandard 

assets per $100 of appraised value 

o f assets o f—

SO 00 46 2 13 17 11 1 2

$0.01 to $4.99.................................................. 5,022

4,481

2,116

1,005

418

14 1,518 2,291 799 271 82 28 19

$5.00 to $9.99.................................................. 4 829 2,188 978 318 113 38 13

$10.00 to $14.99..............................................

$15.00 to $19.99..............................................

2 4

5

294

114

970

408

523

288

220

126

63

30

20

23

20

11

$20.00 to $24.99.............................................. 5 59 141 1.30 49 16 12 6

$25.00 to $29.99..............................................

$30 00 to $34 99

200

75

2

1

6

3

19

11

69

19

60

21

24

14

12

4

5

2

3

$35.00 or more................................................. 74 2 6 15 9 19 9 5 1 8

Banks w ith 3-year average n et cu rren t operatin g earnings per $100 

o f tota l assets o f—

$-0.50 or less ......................................... 17 6 5 3 1 1 1

$-0 01 to $-0 49 .......................... 59 1 16 26 7 3 5 1

$0.00 to $0.49..................................................

$0.50 to $0.99..................................................

$1.00 to $1.49..................................................

$1.50 to $1.99..................................................

997

4,094

4,605

2,305

2

2

2

1

14

20

9

5

387

1,300

860

240

369

1,903

2,281

1,047

137

619

995

636

55

175

333

259

20

50

86

70

8

21

24

33

5

4

15

14

$2.00 to $2.49 ................................................ 848 51 336 265 117 45 18 16

$2.50 to $2.99 ................................................ 299 9 82 105 51 26 17 9

$3.00 or more ............................................... 194 8 53 57 35 18 8 15

N ot available . . ................. 19 1 9 3 1 4 1

B anks w ith deposits o f—

$100 000 or less .................................. 385 1 8 31 86 102 73 47 37

$100,000 to $250,000.....................................

$250 000 to $500,000 ...................................

2,230

3,086

3,022

2,169

1,483

2 3

5

76

366

650

1,681

863

745

446

206

128

50

41

19

21

14

$500,000 to $1,000,000.................................. 4 728 1,549 539 145 43 9 5

$1 000 000 to $2 000 000 2 13 622 1,103

720

330 74 19 6

$2|000|000 to $5i000i000.............................. 2 11 503 195 36 10 3 3

$5 000 000 to $10 000 000............................ 516 5 230 215 45 17 1 3

$10 000 000 to $50 000 000 418 1 7 250 128 25 4 3

Mrvrp than $^0 000 000 128 89 35 1 2 1

N ote: For banks included and explanation of terms, see pages 85-87.

Back figures—See the Annual Report for 1939, page 174.

184 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 134. DISTRIBUTION OF DEPOSITS OF INSURED COMMERCIAL BANKS EXAMINED IN 1940 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 $ 1 0 0 of appraised value

of assets of—

$ 0 .0 0 ..........................

$ 0 .0 1 to $ 4 . 9 9 .....................

$ 5.00 to $ 9.99............................................!!!!!!

$ 1 0 .0 0 to $ 1 4 . 9 9 ................................

$ 1 5 .0 0 to $ 1 9 . 9 9 ................................

$ 2 0 .0 0 to $ 2 4 .9 9 ............................................] . . .

$ 2 5 .0 0 to $ 2 9 . 9 9 .......................................................

$ 3 0 .0 0 to $ 3 4 .9 9 .......................................................

$ 3 5 .0 0 or more.............................................

Banks with 3-year average net current operating^earnings per $ 1 0 0

of total assets of—

$ -0 .5 0 or less...............................................

$ - 0 .0 1 to $ - 0 . 4 9 .........................................................

$ 0 .0 0 to $ 0 . 4 9 .............................................................

$ 0 .5 0 to $ 0 . 9 9 .............................................................

$ 1 .0 0 to $ 1 . 4 9 .............................................................

$ 1 .5 0 to $ 1 . 9 9 ............................................................

$ 2 .0 0 to $ 2 . 4 9 .............................................................

$ 2 .5 0 to $ 2 . 9 9 ............................................................

$ 3 .0 0 or more...............................................

Not available...............................................

Banks with deposits of—

$ 1 0 0 ,0 0 0 or less...........................................

$ 1 0 0 ,0 0 0 to $ 2 5 0 ,0 0 0 ............................................

$ 2 5 0 ,0 0 0 to $ 5 0 0 ,0 0 0 ............................................

$ 5 0 0 ,0 0 0 to $ 1 ,0 0 0 ,0 0 0 .......................................

$ 1 ,0 0 0 ,0 0 0 to $ 2 ,0 0 0 ,0 0 0 ..................................

$ 2 ,0 0 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 ..................................

$ 5 ,0 0 0 ,0 0 0 to $ 1 0 ,0 0 0 ,0 0 0 ...............................

$ 1 0 ,0 0 0 ,0 0 0 to.$ 5 0 ,0 0 0 ,0 0 0 .............................

More than $ 5 0 ,0 0 0 ,0 0 0 .......................................

57,919,547

133,782

34,534,419

15,802,267

4,309,567

1,878,535

655,888

304,333

166,752

134,004

6,516

75,462

14,307,125

30,357,336

10,042,462

2,340,532

514,050

161,726

101,281

13,057

29,149

405,134

1,123,739

2,169,338

3,060,390

4,530,855

3,538,555

8,458,526

34,603,861

39,348

1,430

3,415

30,751

3,752

4,626

33,085

1,430

207

367

2,352

5,878

30,751

(In thousands of dollars)

209,709

6,966

144,299

11,501

9,025

6,490

7,762

12,941

2,861

7,864

233

75,396

110,799

14,929

8,352

94

604

1,849

2,798

18,726

31,363

32,178

122,097

36,739,600 16,815,905 2,627,307 888,543 443,984 134,811 20,340

93,263 19,292 6,482 767 7,012

26,014,976 7,423,060 638,908 267,305 25,123 17,478 3,270

8,563,389 5,826,105 806,267 233,819 348,855 7,835 4,496

1,256,510 2,319,615 507,743 156,084 21,951 33,334 3,875

573,165 838,198 319,587 106,406 18,368 14,461 1,860

116,624 224,048 203,057 44,777 11,404 47,521 695

33,212 113,398 70,963 49,114 11,871 7,011 2,408

41,278 38,973 37,349 11,771 3,666 103

47,183 13,216 36,951 18,500 2,746 56 3,736

1,636 2,129 2,199 98 263 191

28,219 34,318 4,309 6,035 2,283 65

10,128,346 3,897,012 125,708 65,094 9,038 1,611 294

22,039,288 7,037,949 857,385 251,679 22,841 3,307 1,003

4,127,182 4,448,301 1,058,093 336,263 42,447 8,603 5,214

338,403 1,064,011 397,206 164,993 346,201 16,870 4,289

46,096 219,189 121,498 36,975 11,088 77,156 2,048

21,703 54,870 39,802 13,144 4,020 24,879 3,308

5,037 52,775 20,596 11,612 5,293 2,057 3,911

5,326 5,844 581 549 675 82

607 2,693 6,704 8,331 5,509 3,230 1,981

21,542 124,638 155,353 72,867 20,080 6,401 3,282

143,825 612,204 266,242 70,204 18,122 6,436 4,857

538,855 1,102,263 382,526 101,635 32,166 5,707 3,388

897,145 1,542,962 459,901 103,667 27,008 8,629

1,593,809 2,134,248 608,752 110,250 30,918 8,805 6,832

1,586,139 1,476,049 301,812 118,314 5,403 18,660

5,503,622 2,234,267 388,937 101,909 76,943

26,454,056 7,586,581 57,080 201,366 304,778

00

Cn

N o t e : For banks included and explanation of terms, see pages 85-87. 

Back figures— See the Annual Report for 1939, page 175.

ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
ANALYSIS OF EXAMINATIONS OF INSURED COMMERCIAL BANKS EXAMINED BY THE

FEDERAL DEPOSIT INSURANCE CORPORATION

Table 135. N e t S o u n d CAPITAL RATIOS OF INSURED COMMERCIAL BANKS EXAMINED BY THE FEDERAL DEPOSIT INSURANCE

C o r p o r a t io n , 1933-1940 2 ? 7

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)

N ET SOUND C APITAL P E R $100 OF:

A ppraised value o f assets

31933................................................................ $9.62 $22.77 $13.96 $10.42 $8.44 $7.90 $9.30 $9..95 $2.56

41934 .............................................................. 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

$14.12

10.22

1936 ..................................................... 14.38 23.78 17.34 14.50 14.07 14.04 14.07 $14.22 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 uniform5............................................... 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

1940................................................................ 12.09 24.58 16.76 13.36 12.50 11.80 11.61 11.98 11.29 9.27

D eposits

31933 .............................................................. 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 uniform5...............................................

14.64 31.70 20.54 15.39 14.38 13.90 13.59 13.99 14.67 12.35

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

1940................................................................ 13.90 32.97 20.24 15.48 14.36 13.50 13.23 13.78 13.02 10.33

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

41934 ........................................................ 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

86.20

66.17

1936 ............................................... 90.92 85.77 92.65 95.17 94.54 90.62 89.28 87.49 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...............................................

1938 uniform5...............................................

87.78 88.08 91.50 91.32 87.90 85.36 83.70 83.44 86.54 106.94

88.83 89.27 92.71 92.90 90.98 88.58 86.89 86.65 85.60 88.47

193 9 

194 0 

90.69 91.62 94.16 94.46 93.14 90.26 88.98 90.97 85.88 93.16

93.62 94.84 95.95 96.82 95.47 92.69 91.74 92.52 91.16 96.49

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.

* Examination for admission to insurance in late 1933 and early 1934.

6 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.

N ote: For banks included and explanation of terms, see pages 85-87.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 136. T otal Asset Ratios op Insured Commercial Banks Examined by the Federal Deposit Insurance Corporation,

1933-1940

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)

PER $100 OF BOOK VALU E:

E xam in ers’ d ed u ction s (net) fro m assets

81933................................................................ $10.47 $9.28 $8.48 $8.74 $10.94 $11.54 $11.24 $11.24 $9.51

1934................................................................ 6.73 6.20 4.69 5.24 5.89 6.55 7.57 7.89 8.11

1935................................................................ 4.11 4.55 2.46 2.32 2.77 3.94 4.88 5.61 4.97

1936................................................................ 1.42 3.80 1.36 .73 .81 1.43 1.66 $1.99 $2.21 .37

1937................................................................ 1.06 3.17 1.45 .80 .96 1.28 1.29 1.95 .65 *.16

1938 original5............................................... 1.68 3.02 1.50 1.21 1.65 2.01 2.23 2.32 1.78 *.71

1938 uniform5............................................... 1.53 2.71 1.28 .99 1.22 1.56 1.79 1.86 1.91 1.17

1939................................................................ 1.21 2.08 1.00 .76 .89 1.28 1.42 1.18 1.69 .69

1940................................................................ .77 1.25 .67 .42 .57 .90 1.02 .94 .92 .34

Substandard assets (appraised value)

61933..............................................................

61934..............................................................

71935................................................................ 19.62

71936................................................................ 16.21

81937................................................................ 15.62 17.80 14.95 13.75 14.84 15.72 16.88 18.63 16.90 10.91

1938 original5............................................... 12.37 13.38 11.93 10.32 11.31 12.25 13.56 14.84 14.17 8.27

1938 uniform5............................................... 12.75 13.94 12.33 10.68 11.75 12.68 14.00 15.24 14.42 8.51

1939................................................................ 10.47 11.83 9.57 8.63 9.09 10.36 11.59 11.36 12.95 6.48

1940................................................................ 8.44 9.06 7.51 6.53 7.05 7.86 10.06 9.82 10.73 5.03

Assets n o t criticized (appraised value)

61933................................................................

61934................................................................

71935................................................................ 76.27

71936................................................................ 82.37

1937................................................................ 83.32 79.03 83.60 85.45 84.20 83.00 81.83 79.42 82.45 89.25

1938 original5............................................... 85.95 83.60 86.57 88.47 87.04 85.74 84.21 82.84 84.05 92.44

1938 uniform5............................................... 85.72 83.35 86.39 88.33 87.03 85.76 84.21 82.90 83.67 90.32

1939................................................................ 88.32 86.09 89.43 90.61 90.02 88.36 86.99 87.46 85.36 92.83

1940................................................................ 90.79 89.69 91.82 93.05 92.38 91.24 88.92 89.24 88.35 94.63

1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.

* 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 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.

* Includes all fixed assets.

N ote: For banks included and explanation of terms, see pages 85-87.

ANALYSIS OF EXAMINATIONS OF INSURED BANKS 187

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 137. L o a n R a t io s OF INSURED COMMERCIAL BANKS EXAMINED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION, 1934-1940

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)

PER $100 OF BOOK VALUE: 

Exam iners’ d ed u ction s (net) fro m 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 2.08 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

1940................................................................ .87 1.66 .94 .61 .64 .97 1.08 1.35 .84 .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

1940................................................................ 9.81 12.78 9.84 8.23 8.25 9.31 11.29 10.90 11.80 8.41

Loans n o t 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

1940................................................................ 89.32 85.56 89.22 91.16 91.11 89.72 87.63 87.75 87.36 91.18

A Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.

8 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 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.

N ote: For banks included and explanation of terms, see pages 85-87.

188 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 138. A s s e t R a tio s OF INSURED COMMERCIAL BANKS EXAMINED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION, 1940

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

$10,000,000

to

$50,000,000

More than 

$50,000,000

0

Number of banks.................................... 7,075 357 1,837 2,022 1,471 816 413 93 60 6

PE R $100 OF BOOK VALUE:

Total assets........................................................ $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Examiners' deductions (net) ........................ .77 1.25 .67 .42 .57 .90 1.02 .94 .92 .34

Appraised value...............................................

Substandard..................................................

99.23 98.75 99.33 99.58 99.43 99.10 98.98 99.06 99.08 99.66

8.UU 9.06 7.51 6.53 7.05 7.86 10.06 9.82 10.73 5.03

Not criticized................................................. 90.79 89.69 91.82 93.05 92.38 91.2U 88.92 89.2 U 88.35 9U-63

Gash and due from banks........................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100 00 100.00 100.00

Securities............................................................ 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Examiners’ deductions (n et)........................ .68 .30 .13 .20 .63 .80 1.08 .86 .63 .35

Appraised value...............................................

Substandard..................................................

99.32 99.70 99.87 99.80 99.37 99.20 98.92 99.14 99.37 99.65

8.65 8.U0 9.11 8.1U 9.27 9.03 10.77 10.66 8.U7 2.72

Not criticized................................................. 90.67 91.80 90.76 91.66 90.10 90.17 88.15 88.U8 90.90 96.93

Loans..................................................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Examiners* deductions (n et)........................ .87 1.66 .94 .61 .64 .97 1.08 1.35 .84 .41

Appraised value...............................................

Substandard..................................................

99.13 98.34 99.06 99.39 99.36 99.03 98.92 98.65 99.16 99.59

9.81 12.78 9.8U 8.23 8.25 9.31 11.29 10.90 11.80 8.U1

Not criticized................................................. 89.82 85.56 89.22 91.16 91.11 89.72 87.63 87.75 87.36 91.18

Fixed and miscellaneous assets................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Examiners’ deductions (net)........................ 5.22 9.51 7.11 3.74 4.31 7.51 5.85 3.97 5.13 1.54

Appraised value..............................................

Substandard..................................................

94.78 90.49 92.89 96.26 95.69 92.49 94.15 96.03 94.87 98.46

US.18 37.U7 31.87 33.30 36.U9 U1.90 52.52 U9.31 U8.23 39.SU

Not criticized................................................. U9.60 53.02 61.02 62.96 59.20 50.59 U1.63 U6.72 U6.6U 59.12

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. 

N o t e: For banks included and explanation of terms, see pages 85-87.

ANALYSIS OF EXAMINATIONS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
EARNINGS OF INSURED COMMERCIAL BANKS

Table 139. EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BANKS, 1934-1940'

(Amounts in thousands of dollars)

CD

O

1934 1935 1936 1937 1938 1939 1940

14,137 14,123 13,969 13,795 13,657 13,534 13,438

Current operating earnings:

Commissions, fees, and collection, exchange, and service charges...............

690,601

550,092

75,748

202,008

1,518,449

643,217

547,727

90,003

205,188

1,486,135

663,195

573,991

105,056

224,490

1,566,732

709,962

572,019

110,995

240,598

1,633,574

705,037

531,854

115,226

232,263

1,584,380

726,922

521,681

121,525

235,372

1,605,500

768,770

499,650

129,380

233,274

1,631,074

Current operating expenses: 302,603

7,324

| 402,038

77,043

47,747

280,412

1,117,167

262,228

2,647

410,953

79,258

39,912

288,074

1,083,072

237,222 

1,630 

f 10,369 

{ 177,431 

249,611 

95,327 

52,248 

299,738 

1,123,576

235,350

1,333

11,239

187,024

265,141

102,771

51,457

307,559

1,161,874

229,629

926

11,721

191,984

269,952

99,032

56,384

294,851

1,154,479

215,237

622

12,178

196,426

274,934

102,344

53,567

299,795

1,155,103

200,790

474

12,439

202,357

282,837

117,168

61,811

309,489

1,187,365

Other expenses of occupancy and maintenance of banking quarters4..........

401,282 403,063 443,156 471,700 429,901 450,397 443,709

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

Total profits on assets sold, recoveries, etc............................................

514,562

52,874

5191,777

32,814

292,027

528,368

81,812

5287,788

34,484

432,452

267,922

110,595

175,092

31,532

585,141

117,239

89,860

57,919

43,836

308,854

172,857

56,405

61,579

38,381

329,222

214,959

65,581

66,495

34,137

381,172

177,774

65,887

73,274

32,200

349,135

Net earnings, profits and recoveries on assets, etc...................................... 693,309 835,515 1,028,297 780,554 759,123 831,569 792,844

Losses, charge-offs, and additions to valuation allowances:

552,857

391,547

88,874

1,033,278

318,732

239,193

70,175

628,100

250,266

154,758

96,641

501,665

141,537

176,457

77,098

395,092

150,100

221,903

82,507

454,510

136,137

215,170

86,938

438,245

113,699

193,054

79,290

386,043 All other losses, charge-offs, and additions to valuation allowances............

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends6...........................................

Federal and State taxes on net income7..................................................................

-339,969 207,415 526,632

2,442

524,190

385,462

4,848

380,614

304,613

4,344

300,269

393,324

4,641

388,683

406,801

5,690

Net profits after income taxes.............................................................................. 401,111

Gash 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.....................................................................................

-339,969 207,415

17,796

169,973

187,769

33,321

174,216

207,537

34,531

188,886

223,417

24,195

201,450

225,645

19,435

202,674

222,109

18,448

213,836

232,284

17,313

219,437

236,750

-527,738 -122 300,773 154,969 78,160 156,399 164,361

Number of active officers, December 3 1 ....................................................

Number of other employees, December 31...............................................

(8)

(8)

(8)

(8)

52,518

180,893

53,235

188,410

54,080

187,189

54,713

191,612

55,717

197,523

1 All figures in this table differ from those published in previous Annual Reports by the inclusion of figures for insured national banks in the possessions and insured banks 

in the District of Columbia not members of the Federal Reserve System, which were formerly excluded.

2 Excludes trust companies not engaged in deposit banking, which submit reports to FDIC (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and 

4 for 1940); and banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939). For additional exclusions and duplications, see 

page 88.

* Except for 1934 and 1935, excludes income taxes paid by banks submitting reports to FD IC .

4 For banks submitting reports to F D IC , 1936-1940, consists of regular depreciation allowances on banking house, furniture and fixtures plus other expenses of occupancy 

and maintenance of banking quarters; for banks not submitting reports to F D IC , and in 1934 and 1935 for banks submitting reports to F D IC , consists of regular and extraordinary depreciation allowances on banking house, furniture and fixtures. See pages 89-90.

5 Profits on securities available separately only for banks submitting reports to FD IC ; included with recoveries for banks not submitting reports to F D IC .

6 After payment of income taxes for banks not submitting reports to FD IC, and in 1934 and 1935 for banks submitting reports to F D IC . See footnote 3.

7 Income taxes available only for banks submitting reports to FD IC. See footnote 3.

8 N ot available.

N o t e: Minus (-) indicates net loss.

EARNINGS OF INSURED BANKS 191

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Federal Reserve Bank of St. Louis
Table 140. RATIOS OF EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BANKS, 1934-1940

(Amounts per $100 of total assets1)

1934 1935 1936 1937 1938 1939 1940

Number of banks2............................................................................................. 14,137 14,123 13,969 13,795 13,657 13,534 13,438

Current operating earnings:

Interest and discount on loans............................................................................... $1.53 $1.33 $1.24 $1.29 $1.28 $1.22 $1.16

Interest and dividends on securities..................................................................... 1.22 1.14 1.07 1.04 .96 .87 .75

Commissions, fees, and collection, exchange, and service charges............... .17 .19 .20 .20 .21 .20 .19

Other current operating earnings.......................................................................... .45 .42 .41 .44 .42 .39 .35

Gross current operating earnings.............................................................. 3.37 3.08 2.92 2.97 2.87 2.68 2.45

Current operating expenses:

Interest on time and savings deposits.................................................................. $0.67 $0.54 $0.44 $0.43 $0.42 $0.36 $0.30

Interest and discount on borrowings.................................................................... .02 .01 .00 .00 .00 .00 .00

Directors’ and professional fees.............................................................................. ) ( .02 .02 .02 .02 .02

Officers’ salaries.......................................................................................................... .89 .85 .33 .34 .35 .33 .30

Employees’ salaries and wages............................................................................... 1 -47 .48 .49 .46 .43

Taxes3............................................................................................................................ .17 .16 .18 .19 .18 .17 .18

Other expenses of occupancy and maintenance of banking quarters4.......... .11 .08 .09 .09 .10 .09 .09

Other current operating expenses.......................................................................... .62 .60 .56 .56 .53 .50 .47

Total current operating expenses............................................................... 2.48 2.24 2.09 2.11 2.09 1.93 1.79

Net current operating earnings........................................................................... $0.89 $0.84 $0.83 $0.86 $0.78 $0.75 $0.66

Profits on assets sold or exchanged, recoveries, and reductions in

valuation allowances:

Profits on securities sold or exchanged................................................................ $60.03 $50.06 $0.50 $0.21 $0.31 $0.36 $0.27

Recoveries and reductions in valuation allowances on loans......................... .12 .17 .21 .16 .10 .11 .10

Recoveries and reductions in valuation allowances on securities................. 5.43 5.60 .33 .11 .11 .11 .11

All other recoveries, profits on assets sold, and reductions in valuation

allowances............................................................................................................ .07 .07 .05 .08 .07 .06 .05

Total profits on assets sold, recoveries, etc............................................ .65 .90 1.09 .56 .59 .64 .53

Net earnings, profits and recoveries on assets, etc...................................... $1.54 $1.74 $1.92 $1.42 $1.37 $1.39 $1.19

Losses, charge-offs, and additions to valuation allowances:

$1.23 $0.66 $0.47 $0.26 $0.27 $0.23 $0.17

On securities................................................................................................................ .87 .50 .29 .32 .40 .35 .29

All other losses, charge-offs, and additions to valuation allowances............ .19 .15 .18 .14 .15 .15 .12 Total losses, charge-offs, etc......................................................................... 2.29 1.31 .94 .72 .82 .73 .58

192 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends8.

Federal and State taxes on net income7.......................

Net profits after income taxes..................................

Gash 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 31 (average per bank) 

Number of other employees, December 31 (average per bank).

$-0.75 $0.43 $0.98

.00

.98

$0.70

.01

.69

$0.55

.01

.54

$0.66

.01

.65

$0.61

.01

-0.75 .43 .60

$0.04 $0.07 $0.06 $0.04 $0.03 $0.03 $0.03

.38 .36 .36 .37 .37 .36 .33

.42 .43 .42 .41 .40 .39 .36

$-1.17 $-0.00 $0.56 $0.28 $0.14 $0.26 $0.24

(8) (8) 3.8 3.9 4.0 4.0 4.1

(8) (8) 12.9 13.7 13.7 14.2 14.7

1 Total assets are averages of figures at beginning, middle, and end of year for banks submitting statements of assets and liabilities. See page 89.

2 Excludes trust companies not engaged in deposit banking which submit reports to FD IC (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and 

4 for 1940); and banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939). For additional exclusions and duplications, see 

page 88.

8 Except for 1934 and 1935, excludes income taxes paid by banks submitting reports to FD IC .

4 For banks submitting reports to F D IC , 1936-1940, consists of regular depreciation allowances on banking house, furniture and fixtures plus other expenses of occupancy 

and maintenance of banking quarters; for banks not submitting reports to FD IC , and in 1934 and 1935 for banks submitting reports to FD IC , consists of regular and extraordinary depreciation allowances on banking house, furniture and fixtures. See pages 89-90.

5 Profits on securities available separately only for banks submitting reports to FD IC; included with recoveries for banks not submitting reports to F D IC .

6 After payment of income taxes for banks not submitting reports to F D IC , and in 1934 and 1935 for banks submitting reports to FD IC . See footnote 3.

7 Income taxes available only for banks submitting reports to FDIC. See footnote 3.

8 N ot available.

N o t e : Minus (-) indicates net loss.

<r>

c oEARNINGS OF INSURED BANKS

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Federal Reserve Bank of St. Louis
Table 141. EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BANKS, 1940

BY CLASS OF BANK

(Amounts in thousands of dollars)

Banks not submitting reports to FD IC Banks submitting reports to FD IC 2

All

insured

banks

Members F. R . System

Other1 Total

Operating Operating

National State

throughout 

the year

less than 

full year3

Number of banks............................................................................................... 13,438 5,144 1,342 10 6,942 6,871 71

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..............................................................

768,770

499,650

129,380

233,274

1,631,074

410,354

283,394

63,767

104,838

862,353

185,057

147,839

28,787

99,013

460,696

1,200

308

384

92

1,984

172,159

68,109

36,442

29,331

306,041

171,012

67,770

36,179

29,213

304,174

1,147

339

263

118

1,867

Current operating expenses:

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

Interest and discount on borrowings .............................................................

200,790

474

105,120

76

42,350

48

270 53,050

350

52,750

346

300

4

Directors’ and professional fees..............................................................................

Officers’ salaries..........................................................................................................

Employees’ salaries and wages...............................................................................

Taxes4...........................................................................................................................

Other expenses of occupancy and maintenance of banking quarters5..........

Other current operating expenses..........................................................................

Total current operating expenses...............................................................

12,439

202,357

282,837

117,168

61,811

309,489

1,187,365

5,349

103,799

150,824

65,971

28,282

166,779

626,200

2,341

51,667

94,010

34,431

17,191

98,256

340,294

15

229

350

181

53

360

1,458

4,734

46,662

37,653

16,585

16,285

44,094

219,413

4,703

46,335

37,444

16,503

16,181

43,739

218,001

31

327

209

82

104

355

1,412

Net current operating earnings........................................................................... 443,709 236,153 120,402 526 86,628 86,173 455

Profits on assets sold or exchanged, recoveries, and reductions in

valuation allowances:

Profits on securities sold or exchanged................................................................

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............................................

177,774

65,887

73,274

32,200

349,135

105,005

36,729

40,982

15,314

198,030

54,136

18,565

22,837

9,182

104,720

33

28

15

6

82

18,600

10,565

9,440

7,698

46,303

18,519

10,502

9,411

7,656

46,088

81

63

29

42

215

Net earnings, profits and recoveries on assets, etc...................................... 792,844 434,183 225,122 608 132,931 132,261 670

194 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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

113,699

193,054

79,290

386,043

58,165

107,904

27,425

193,494

32,243

56,054

28,405

116,702

68

69

18

155

23,223

29,027

23,442

75,692

23,093

28,898

23,353

75,344

130

129

89

348

Net profits before income taxes and dividends6........................................... 406,801 240,689 108,420 453 57,239 56,917 322

Federal and State taxes on net incom e................................................................... 75,690 (7) (7) (7) 5,690 5,653 37

Net profits after income taxes.............................................................................. 401,111 240,689 108,420 453 51,549 51,264 285

Cash dividends declared and interest paid on capital:

Interest paid on capital notes and debentures and dividends declared on 

preferred stock................................................................................................... 17,313 8,117 4,611 28 4,557 4,540 17

Dividends declared on common capital.............................................................. 219,437 124,879 72,873 198 21,487 21,303 184

Total cash dividends declared and interest paid on capital.......... 236,750 132,996 77,484 226 26,044 25,843 201

Net profits after dividends..................................................................................... 164,361 107,693 30,936 227 25,505 25,421 84

Number of active officers, December 31.................................................... 55,717 26,109 9,260 56 20,292 20,092 200

Number of other employees, December 31................................................ 197,523 103,676 60,107 227 33,513 33,259 254

1 National banks in the possessions and State banks in the District of Columbia, not members of the Federal Reserve System.

2 Excludes 4 trust companies not engaged in deposit banking. For additional exclusions and duplications, see page 88.

! Banks submitting reports covering less than the full year’s operations or materially affected by mergers.

4 Excludes income taxes paid by banks submitting reports to FDIC.

5 Consists of regular and extraordinary depreciation allowances on banking house, furniture and fixtures for banks not submitting reports to F D IC . See pages 89-90.

6 After payment of income taxes for banks not submitting reports to F D IC . See footnote 4.

7 Income taxes available only for banks submitting reports to FDIC. See footnote 4.

Back figures— See Table 139, and the following Annual Reports: 1939, p. 182; 1938, p. 214; 1937, p. 141 and p. 144; 1936, p. 165: 1935, p. 198.

CO

OTEARNINGS OF INSURED BANKS

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Federal Reserve Bank of St. Louis
Table 142. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET EARNINGS, 1940

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 current operating earnings per $100 of total assets of— 1

$-0.50 

or less

$-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

A ll ban ks2.................................................................................. 13,164 35 127 976 3,773 4,303 2,360 963 375 252

B anks w ith deposits o f— 1

$100,000 or less..................................................................... 359 6 6 27 68 83 78 42 23 26

$100,000 to $250,000........................................................... 2,159 9 24 120 380 591 507 310 130 88

$250,000 to $500,000........................................................... 3,020 8 21 172 687 973 683 296 103 77

$500,000 to $1,000,000........................................................ 2,956 4 25 164 809 ' 1,043 591 199 78 43

$1,000,000 to $2,000,000.................................................... 2,130 5 22 160 704 804 311 81 30 13

$2,000,000 to $5,000,000.................................................... 1,482 2 14 150 602 519 155 28 8 4

$5,000,000 to $10,000,000................................................. 505 1 8 74 229 160 28 3 1 1

$10,000,000 to $50,000 000 .......................... 421 7 73 213 115 7 4 2

More than $50,000 000 .............................. 132 36 81 15

B anks in cen ters w ith p o p u la tion o f—

Less than 250......................................................................... 626 4 6 40 122 203 143 74 22 12

250 to 500............................................................................... 1,564 1 10 80 335 497 361 166 69 45

500 to 1,000........................................................................... 2,293 5 20 128 560 709 498 235 86 52

1,000 to 2,500........................................................................ 2,924 11 29 175 690 988 612 257 106 56

2,500 to 5,000...................................................... ................. 1,705 5 21 111 499 603 293 108 42 23

5,000 to 10,000..................................................................... 1,283 1 15 114 403 453 204 63 19 11

10,000 to 25,000................................................................... 1,105 3 4 101 444 380 126 21 10 16

25,000 to 50,000................................................................... 487 2 5 50 206 169 39 8 2 6

50,000 or m ore....................................................................... 1,177 3 17 177 514 301 84 31 19 31

B anks in cen ters w ith —

1 banking office..................................................................... 6,913 15 52 389 1,640 2,225 1,476 682 264 170

2 banking offices................................................................... 3,553 11 45 279 1,057 1,249 604 207 78 23

3 banking offices................................................................... 1,050 5 6 86 391 375 125 28 13 21

4 banking offices................................................................... 388 1 3 44 152 114 52 13 2 7

5 banking offices................................................................... 201 1 3 14 89 68 20 3 1 2

6 banking offices ................................................................. 137 4 17 54 42 10 2 2 6

7 or 8 banking offices.......................................................... 143 2 13 68 37 14 3 2 4

9 to 19 banking offices........................................................ 294 1 5 42 104 86 34 9 3 10

20 or more banking offices................................................. 485 1 7 92 218 107 25 16 10 9

1 Asset and liability items are averages of figures for March 26, 1940, June 29, 1940, and December 31, 1940, for banks not reporting to F D IC ; and of figures for 

December 30, 1939, June 29, 1940, and December 31, 1940, for banks reporting to FDIC.

2 For explanation of banks included, see pages 88-89.

Back figures—See the Annual Report for 1939, p. 184.

196 FEDERAL DEPOSIT INSURANCE CORPORATION

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BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND 

NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED

Table 143. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET PROFITS, 1940

All

Banks with net profits before dividends per $100 of total assets of— 1

banks $ -2.00 

or less

$ -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

A ll ban ks2.................................................................. 13,164 128 149 250 644 1,975 4,023 3,244 1,562 748 247 194

Banks w ith deposits o f— 1

$100,000 or less...................................................... 359 12 5 10 24 63 77 63 46 29 11 19 $100,000 to $250,000............................................ 2,159 23 20 39 109 249 495 523 349 213 72 67 $250,000 to $500,000............................................ 3,020 23 32 46 128 368 791 806 463 224 84 55

$500,000 to $1,000,000........................................ 2,956 23 42 62 137 399 846 803 397 162 51 34 $1 ,000,000 to $2 ,0 0 0 ,0 0 0.................................... 2,130 22 22 45 120 338 724 553 187 87 22 10 $2,000,000 to $5,000,000.................................... 1,482 18 22 35 87 299 573 321 90 25 6 6

$5,000,000 to $10,000,000..................................

$10,000,000 to $50,000,000................................

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

505

421

132

3

4

5

1

7

4

2

21

16

2

128

96

35

217

221

79

103

61

11

13

14 

3

4

4

1 3

B an ks in cen ters w ith p op u la tion o f—

Less than 250.......................................................... 626 10 5 16 28 78 162 146 101 55 15 10 250 to 500= = ........................................................... 1,564 13 10 30 89 212 398 405 226 114 38 29 500 to 1,000............................................................ 2,293 22 30 42 105 298 596 599 330 165 52 54

1,000 to 2,500........................................................ 2,924 27 45 49 126 374 784 766 429 205 72 47 2,500 to 5,000........................................................ 1,705 19 21 38 82 228 529 442 201 100 33 12 5,000 to 10,000...................................................... 1,283 11 12 28 74 214 440 311 123 50 10 10

10,000 to 25,000.................................................... 1,105 14 14 16 58 212 417 262 69 22 9 12 25,000 to 50,000.................................................... 487 2 2 10 19 102 190 115 26 9 7 5

50,000 or m ore....................................................... 1,177 10 10 21 63 257 507 198 57 28 11 15

B anks in cen ters w ith —

1 banking office...................................................... 6,913 67 80 131 333 899 1,824 1,777 998 499 176 129 2 banking offices.................................................... 3,553 35 48 69 184 534 1,133 909 389 182 37 33 3 banking offices.................................................... 1,050 10 6 21 38 183 392 263 80 29 14 14

4 banking offices.................................................... 388 4 4 4 18 79 153 79 33 7 5 2

5 banking offices.................................................... 201 3 1 4 12 44 85 33 12 3 1 3

6 banking offices.................................................... 137 2 2 2 8 25 53 28 6 4 3 4

7 or 8 banking offices...........................................

9 to 19 banking offices.........................................

143

294

2 1 4

4

5

17

29

29

67

115

61

116

206

25

57

73

9

15

20

3

Q

1

£

3

Q

20 or more banking offices.................................. 485 5 7 11 12

D

4

O

3

1 Asset and liability items are averages of figures for March 26, 1940, June 29, 1940, and December 31, 

December 30, 1939, June 29, 1940, and December 31, 1940, for banks reporting to FDIC.

2 For explanation of banks included, see pages 88-89.

Back figures— See the Annual Report for 1939, p, 185.

1940, for banks not reporting to F D IC ; and of figures for

EARNINGS OP INSURED BANKS 197

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 144. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET EARNINGS AND BY RATE OF NET PROFITS, 1940

All

banks

Banks with net current operating earnings per $100 of total assets of— 1

$-0.50 

or less

$-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................................................................................. 13,164 35 127 976 3,773 4,303 2,360 963 375 252

Banks with losses— total.................................. 1,171 24 56 181 445 305 114 27 14 5

Banks with profits— tota l................................ 11,993 11 71 795 3,328 3,998 2,246 936 361 247

Banks with net profits before dividends per

$100 of total assets of— 1

$—2.00 or less......................................................................... 128 8 4 18 41 33 17 4 3

$-1.00 to $ -1.9 9 ................................................................... 149 3 7 26 61 35 15 1 1

$-0.50 to $ -0.99................................................................... 250 3 6 36 101 65 21 12 5 1

$-0.01 to $-0.4 9 ................................................................... 644 10 39 101 242 172 61 11 5 3

$0.00 to $0.49........................................................................ 1,975 5 36 428 850 468 142 26 13 7

$0.50 to $0.99........................................................................ 4,023 3 25 274 1,821 1,437 337 93 24 9

$1.00 to $1.49........................................................................ 3,244 2 6 69 508 1,596 837 174 39 13

$1.50 to $1.99........................................................................ 1,562 1 2 12 94 352 692 318 67 24

$2.00 to $2.49........................................................................ 748 1 8 35 99 171 250 133 51

$2.50 to $2.99........................................................................ 247 3 11 24 35 54 57 63

$3.00 or m ore......................................................................... 194 1 1 9 22 32 21 28 80

1 Total assets are averages of figures for March 26, 1940, June 29, 1940, and December 31, 1940, for banks not reporting to FDIC; and of figures for December 30, 1939, 

June 29, 1940, and December 31, 1940, for banks reporting to FDIC.

2 For explanation of banks included, see pages 88-89.

Back figures— See the Annual Report for 1939, p. 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 RATE OF INCOME ON LOANS, 1940

BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND RATE OF NET EARNINGS

All

banks

Banks with income on loans1 per $100 of total loans of— 2

Less than 

$4,003

$4.00 

to $4.99

$5.00 

to $5.99

$6.00 

to $6.99

$7.00 

to $7.99

$8.00 

to $8.99

$9.00 

to $9.99

$10.00 

to $10.99

$11.00 

to $11.99

$12.00 

or more

A ll ban ks4................................................................................... 13,164 456 1,433 4,051 3,504 1,733 960 464 233 146 184

B anks w ith deposits o f— 2

359 4 7 26 62 75 71 36 30 19 29

$100,000 to $250,000............................................................ 2,159 15 67 353 567 486 285 164 88 53 81

$250,000 to $500,000............................................................ 3,020 21 173 770 928 552 278 145 64 42 47

$500,000 to $1,000,000......................................................... 2,956 60 249 953 939 380 223 79 37 19 17

$1,000,000 to $2,000,000..................................................... 2,130 41 254 913 618 167 77 33 11 10 6

$2,000,000 to $5,000,000..................................................... 1,482 69 303 693 323 63 21 3 3 2 2

$5 000 000 to $10 000,000 .......................................... 505 55 168 224 44 7 4 1 1 1

$10 000 000 to $50 000 000 421 98 182 110 23 3 1 3 1

Mnrp fVian OOft ftOft 132 93 30 9

Banks in centers w ith p op u la tion o f—

626 2 48 165 180 127 68 17 9 7 3

250 to 500................................................................................ 1,564 16 88 358 463 310 147 73 48 24 37

500 to 1,000............................................................................. 2,293 21 148 588 687 394 222 114 44 31 44

1,000 to 2,500......................................................................... 2,924 54 197 800 867 415 282 139 79 41 50

2,500 to 5,000......................................................................... 1,705 26 150 586 480 226 129 57 18 15 18

5,000 to 10,000....................................................................... 1,283 30 133 495 374 130 55 31 11 15 9

10,000 to 25,000..................................................................... 1,105 45 186 486 256 70 32 9 7 5 9

25 000 to 50,000 ........................................................... 487 27 124 223 83 17 6 2 3 2

50,000 or m ore........................................................................ 1,177 235 359 350 114 44 19 22 14 8 12

Banks w ith n et cu rren t operatin g earnings per

$100 of tota l assets o f— 2

$—0 50 or less 35 3 6 6 9 3 4 4

$-0 01 to $-0 49 ............................ 127 15 27 37 28 10 3 4 2 1

$0.00 to $0.49......................................................................... 976 127 210 307 196 74 29 9 10 8 6

$0.50 to $0.99......................................................................... 3,773 234 652 1,480 881 297 138 53 17 4 17

$1.00 to $1.49......................................................................... 4,303 61 425 1,549 1,322 539 236 77 45 21 28

$1.50 to $1.99......................................................................... 2,360 14 87 526 772 454 268 122 50 35 32

$2.00 to $2.49......................................................................... 963 2 19 114 218 242 153 105 45 29 36

$2.50 to $2.99 ....................................................................... 375 4 24 56 81 86 44 30 23 27

$3.00 or m ore.......................................................................... 252 3 8 22 33 43 46 34 26 37

1 Income on loans consists of the amount reported against the caption, “ Interest and discount on loans,” which includes renewal, mortgage, and other fees charged in connection with loans owned by the bank. .

2 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to F D IC ; and of figures for December 30, 

1939, June 29, 1940, and December 31, 1940, for banks reporting to FDIC.

8 Includes 6 cash depositories with no loans.

4 For explanation of banks included, see pages 88-89.

Back figures—See the Annual Report for 1939, p. 187.

EARNINGS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 146. D is trib u tio n o f In su red Com m ercial B anks A ccord in g t o R a te o f Incom e on L oans, 1940

BANKS GROUPED"BY RATIO OF LOANS TO TOTAL ASSETS AND RATIO OF TIME AND SAVINGS DEPOSITS TO TOTAL DEPOSITS

All

banks

Banks with income on loans1 per $100 of total loans of— 2

Less than 

$4,003

$4.00 

to $4.99

$5.00 

to $5.99

$6.00 

to $6.99

$7.00 

to $7.99

$8.00 

to $8.99

$9.00 

to $9.99

$10.00 

to $10.99

$11.0 0 

to $11.99

$12.00 

or more

All banks4.................................................................................... 13,164 456 1,433 4,051 3,504 1,733 960 464 233 146 184

Banks with loans per $100 of total assets of— 2

Less than $10.00..................................................................... 147 19 28 25 28 16 8 5 1 4 13

$10.00 to $19.99..................................................................... 1,017 107 160 286 222 108 57 25 11 14 27

$20.00 to $29.99..................................................................... 2,394 127 332 782 564 256 156 73 40 24 40

$30.00 to $39.99..................................................................... 3,226 110 360 1,021 839 403 236 119 61 33 44

$40.00 to $49.99..................................................................... 3,073 60 304 957 841 438 235 123 53 33 29

$50.00 to $59.99..................................................................... 2,041 25 164 613 655 286 165 66 37 20 10

$60.00 to $69.99..................................................................... 907 6 70 259 256 179 71 30 18 9 9

$70.00 to $79.99..................................................................... 309 2 13 98 91 41 29 15 8 6 6

$80.00 or m ore........................................................................ 50 2 10 8 6 3 g 4 3 6

Banks with time and savings deposits per $100

of total deposits of— 2

N on e.......................................................................................... 411 11 18 62 81 69 68 40 19 16 27

Less than $10.00.................................................................... 763 84 53 102 118 128 116 71 37 24 30

$10.00 to $19.99..................................................................... 1,241 93 114 189 249 209 167 104 49 30 37

$20.00 to $29.99..................................................................... 1,650 67 190 327 369 298 211 79 47 30 32

$30.00 to $39.99..................................................................... 1,886 49 210 496 530 320 139 67 31 18 26

$40.00 to $49.99..................................................................... 2,014 57 254 618 583 304 122 45 18 8 5

$50.00 to $59.99..................................................................... 2,090 45 244 766 680 223 81 25 16 6 4

$60.00 to $69.99..................................................................... 1,819 31 198 840 565 131 37 10 2 3 2

$70.00 to $79.99..................................................................... 951 13 103 504 268 40 H g 2 2

$80.00 or m ore........................................................................ 339 6 49 147 61 11 8 15 12 11 19

1 Income on loans consists of the amount reported against the caption, “ Interest and discount on loans,” which includes renewal, mortgage, and other fees charged in connection with loans owned by the bank.

* Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to FDIC; and of figures for December 30, 

1939, June 29, 1940, and December 31, 1940, for banks reporting to FDIC.

3 Includes 6 cash depositories with no loans.

4 For explanation of banks included, see pages 88-89.

200 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 147. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO KATIO OF LOANS TO TOTAL ASSETS, 1940

BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND RATE OF NET EARNINGS

All

banks

Banks with loans per $100 of total assets of— 1

Less than 

$10,002

$10.00 

to $19.99

$20.00 

to $29.99

$30.00 

to $39.99

$40.00 

to $49.99

$50.00 

to $59.99

$60.00 

to $69.99

$70.00 

to $79.99

$80.00 

or more

A ll ban ks3................................................................................. 13,164 147 1,017 2,394 3,226 3,073 2,041 907 309 50

B anks w ith deposits o f— 1

$100,000 or less.................................................................... 359 10 9 27 57 76 95 59 21 5

$100,000 to $250,000.......................................................... 2,159 18 53 203 417 605 487 273 89 14

$250,000 to $500,000.......................................................... 3,020 18 146 399 680 816 581 277 89 14

$500,000 to $1,000,000....................................................... 2,956 27 182 525 768 735 463 182 66 8

$1,000,000 to $2,000,000................................................... 2,130 21 232 453 612 458 252 72 25 5

$2,000,000 to $5,000,000................................................... 1,482 25 187 436 396 260 125 36 15 2

$5,000,000 to $10,000,000................................................. 505 13 86 156 144 72 26 6 1 1

$10,000,000 to $50,000,000............................................... 421 11 83 145 119 45 12 2 3 1

More than $50,000,000....................................................... 132 4 39 50 33 6

B anks in cen ters w ith p op u la tion of—

Less than 250........................................................................ 626 1 11 44 89 151 172 111 40 7

250 to 500............................................................................... 1,564 10 31 121 306 430 389 203 65 9

500 to 1,000........................................................................... 2,293 18 113 280 515 625 442 213 83 4

1,000 to 2,500....................................................................... 2,924 32 206 490 752 730 472 192 46 4

2,500 to 5,000....................................................................... 1,705 22 149 375 440 398 229 71 20 1

5,000 to 10,000..................................................................... 1,283 17 143 314 368 260 136 38 5 2

10,000 to 25,000................................................................... 1,105 14 132 325 300 212 79 27 9 7

25,000 to 50,000................................................................... 487 9 61 127 155 84 35 10 5 1

50,000 or m ore...................................................................... 1,177 24 171 318 301 183 87 42 36 15

Banks w ith n et cu rren t operatin g earnings per

$100 o f tota l assets o f— 1

$-0.50 or less........................................................................ 35 3 9 13 2 4 4

$-0.01 to $ -0.49................................................................... 127 11 33 41 22 13 6 1

$0.00 to $0.49....................................................................... 976 43 220 364 206 86 41 13 3

$0.50 to $0.99....................................................................... 3,773 58 470 987 1,101 755 307 72 21 2

$1.00 to $1.49....................................................................... 4,303 21 210 691 1,196 1,193 697 239 54 2

$1.50 to $1.99....................................................................... 2,360 8 59 221 493 642 564 280 82 11

$2.00 to $2.49....................................................................... 963 2 9 56 130 256 262 165 73 10

$2.50 to $2.99....................................................................... 375 5 14 51 85 107 75 33 5

$3.00 or more........................................................................ 252 1 2 7 25 39 53 62 43 20

1 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to FDIC; and of figures for December 30, 

1939, June 29, 1940, and December 31, 1940, for banks reporting to FDIC.

2 Includes 6 cash depositories with no loans.

8 For explanation of banks included, see pages 88-89.

Back figutes—See the Annual Report for 1939, p. 187.

EARNINGS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 148. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF INTEREST PAID ON TlME AND SAVINGS DEPOSITS, 1940

BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND RATE OF NET EARNINGS

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 

to $2.49

$2.50 

or more

A ll ban ks2..................... 13,164 411 170 1,275 2,309 5,165 3,247 587

B anks w ith deposits o f— 1

$100,000 or less......... 359 47 8 5 23 104 121 51

$100,000 to $250,000................................... 2,159 130 23 46 120 777 849 214

$250,000 to $500,000 3,020 124 31 97 314 1,265 1,008 181

$500,000 to $1,000,000 ........................................................ 2,956 68 40 194 459 1,311 789 95

$1,000,000 to $2,000,000............................................................................... 2,130 37 17 281 507 909 338 41

$2,000,000 to $5,000,000........................................................................... 1,482 4 14 303 472 567 117 5

$5,000,000 to $10,000,000............................................................................. 505 1 4 151 198 134 17

$10,000,000 to $50,000,000............................................. 421 15 142 167 90 7

More than $50,000,000..................................................... 132 18 56 49 8 1

B anks in centers w ith p op u la tion o f—

Less than 250.................................................................................................... 626 9 1 8 40 242 264 62

250 to 500.......................................................................................................... 1,564 59 13 30 106 628 605 123

500 to 1,000..................................................................... 2,293 97 14 68 215 941 803 155

1,000 to 2,500................................................................................................... 2,924 136 38 135 392 1,231 841 151

2,500 to 5,000................................................................................................... 1,705 60 29 130 327 718 381 60

5,000 to 10,000................................................................................................. 1,283 35 18 185 310 542 176 17

10,000 to 25,000........................................................ ; ........................... 1,105 12 15 194 335 438 100 11

25,000 to 50,000........................................................................................ 487 2 3 118 187 150 24 3

50,000 or m ore.................................................................................................. 1,177 1 39 407 397 275 53 5

B anks w ith n et cu rren t op eratin g earnings per $100 o f total

assets o f— 1

$-0.50 or less.................................................................................................... 35 2 1 5 7 8 8 4

$-0.01 to $-0.4 9 .............................................................................................. 127 4 4 21 24 39 27 8

$0.00 to $0.49............................................................................................. 976 36 33 184 221 334 146 22

$0.50 to $0.99................................................................................................. 3,773 83 46 511 882 1,474 665 112

$1.00 to $1.49................................................................................................... 4,303 115 46 366 741 1,845 1,029 161

$1.50 to $1.99................................................................................................... 2,360 88 15 131 303 909 776 138

$2.00 to $2.49................................................................................................... 963 52 11 34 89 366 335 76

$2.50 to $2.99................................................................................................. 375 19 10 16 25 112 161 32

$3.00 or m ore.................................................................................................... 252 12 4 7 17 78 100 34

1 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to FDIC; and of figures for December 30, 

1939, June 29, 1940, and December 31, 1940, for banks reporting to FD IC .

2 For explanation of banks included, see pages 88-89.

Back figures—See the Annual Report for 1939, pp. 188-89.

202 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 149. DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATIO OF T lM E AND SAVINGS DEPOSITS TO TOTAL DEPOSITS, 1940 

BANKS GROUPED BY RATE OF INTEREST PAID ON TIME AND SAVINGS DEPOSITS, RATE OF NET EARNINGS, AND RATIO OF LOANS TO TOTAL ASSETS

Banks with time and savings deposits per $100 of total deposits o fbanks

None Less than 

$10.00

$10.00 

to $19.99

$20.00 

to $29.99

$30.00 

to $39.99

$40.00 

to $49.99

$50.00 

to $59.99

$60.00 

to $69.99

$70.00 

to $79.99

$80.00 

or more

All banks2................................................................................... 13,164 411 763 1,241 1,650 1,886 2,014 2,090 1,819 951 339

Banks with no time and savings deposits.......... 411 411

Banks paying interest per $100 of time and savings deposits of— 1

170 130 15 8 8 2 5 1 1

$0.50 to $0.99......................................................................... 1,275 110 183 148 147 222 216 175 61 13

$1.00 to $1.49......................................................................... 2,309 125 225 296 270 336 385 382 217 73

$1.50 to $1.99......................................................................... 5,165 169 420 668 795 822 873 813 459 146

$2.00 to $2.49......................................................................... 3,247 150 314 436 561 551 541 407 191 96

$2.50 or m ore.......................................................................... 587 79 84 94 105 81 70 41 22 11

Banks with net current operating earnings per

$100 of total assets of— 1

$—0.50 or less........................................................................... 35 2 3 6 2 7 7 6 2

$-0.01 to $ -0.4 9 ..................................................................... 127 4 6 13 16 12 15 25 18 14 4

$0.00 to $0.49......................................................................... 976 36 65 76 105 110 153 165 152 89 25

$0.50 to $0.99......................................................................... 3,773 83 187 311 389 507 554 684 617 339 102

$1.00 to $1.49......................................................................... 4,303 115 220 334 515 609 663 726 679 354 88

$1.50 to $1.99......................................................................... 2,360 88 120 246 358 399 402 332 253 116 46

$2.00 to $2.49......................................................................... 963 52 89 150 143 161 148 110 67 26 17

$2.50 to $2.99......................................................................... 375 19 38 70 81 54 53 21 22 7 10

$3.00 or m ore.......................................................................... 252 12 35 35 41 27 26 20 5 4 47

Banks with loans per $100 of total assets of— 1

Less than $10.003................................................................... 147 25 11 11 16 15 15 16 20 11 7

$10.00 to $19.99..................................................................... 1,017 42 87 114 106 125 146 133 140 98 26

$20.00 to $29.99..................................................................... 2,394 90 185 258 319 311 326 345 323 185 52

$30.00 to $39.99..................................................................... 3,226 112 204 333 422 474 479 493 418 229 62

$40.00 to $49.99..................................................................... 3,073 86 156 297 409 467 459 506 442 185 66

$50.00 to $59.99..................................................................... 2,041 38 81 161 224 333 351 367 296 153 37

$60.00 to $69.99..................................................................... 907 17 30 55 130 117 173 168 130 59 28

$70.00 to $79.99..................................................................... 309 1 9 11 22 41 58 56 45 28 38

$80.00 or m ore........................................................................ 50 1 2 3 7 6 5 3 23 to

o

CO

1 Asset and liability items are averages of figures for March 26,1940, June 29,1940, and December 31,1940, for banks not reporting to FDIC; and of figures for December 30, 

1939, June 29, 1940, and December 31, 1940, for banks reporting to FDIC.

2 For explanation of banks included, see pages 88-89.

3 Includes 6 cash depositories with no loans.

Back figures— See the Annual Report for 1939, p. 189.

EARNINGS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
EARNINGS OF INSURED BANKS SUBMITTING REPORTS TO THE FEDERAL DEPOSIT INSURANCE CORPORATION 

Table 150. E a r n i n g s , E x p e n s e s , a n d D is p o s it io n o f 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

S u b m i t t i n g R e p o r t s t o 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 i o n , 1934-1940

(Amounts in thousands of dollars)

11934 11935 1936 1937 1938 1939 1940

Number of banks2..................... 7,682 7,723 7,580 7,442 7,307 7,161 6,942

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 on time and savings deposits . . . .

Interest and discount on borrowings.............

Directors' and professional fees.........................

Officers' salaries.................................................

Employees’ salaries and wages..........................

Taxes (other than on incom e)................................

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..................................

149,129

75,713

20,124

26,769

271,735

143,319

79,894

25,201

27,927

276,341

148,170

86,365

33,877

24,357

292,769

156,093

90,803

33,126

30,080

310,102

159,967

83,336

33,803

30,640

307,746

165,211

77,195

34,683

30,462

307,551

172,159

68,109

36,442

29,331

306,041

79,666

3,682

J 73,798

14,556

8,288

46,142

226,132

68,512 

1,411 

f 4,487 

\ 40,543 

I 30,590 

15,368 

6,222 

47,435 

214,568

61,664

1,017

4,067

41,616

32,949

13,961

13,475

41,914

210,663

60,582

757

4,300

43,945

35,467

16,422

14,514

45,033

221,020

58,719

639

4,472

45,215

36,146

16,578

14,235

44,698

220,702

55,858

457

4,625

46,039

36,778

16,738

15,521

44,821

220,837

53,050

350

4,734

46,662

37,653

16,585

16,285

44,094

219,413

45,603 61,773 82,106 89,082 87,044 86,714 86,628

14,562 28,368 36,975

1,524

16,148

14,653

7,083

76,383

18,244

2,076

14,309

7,572

10,354

52,555

20,218

1,309

11,432

7,632

9,287

49,878

25,094

1,236

10,936

10,370

6,803

54,439

18,600

1,314

10,565

9,440

6,384

46,303

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...................................................................

8,381

5,967

8,776

37,686

9,765

10,529

7,370

56,032

83,289 117,805 158,489 141,637 136,922 141,153 132,931

99,862

70,770

27,375

198,007

65,897

40,263

16,607

122,767

43,213

23,166

31,588

97,967

36,660

28,415

28,223

93,298

28,091

39,756

30,406

98,253

27,959

35,501

32,435

95,895

23,223

29,027

23,442

75,692

On securities................................................................

All other losses, charge-offs, and additions to valuation allowances............

Total losses, charge-offs, etc.....................

Net profits before income taxes and dividends

Federal and State taxes on net incom e................................

60,522

2,442

58,080

48,339

4,848

43,491

38,669

4,344

34,325

45,258

4,641

40,617

57,239

5,690

................................ -114,718 -4,962 51,549Net profits after income taxes

204 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Assets and liabilities:3

Cash and due from banks.

Securities................................

Loans......................................

Miscellaneous assets...........

Total assets....................

ASSETS

L IA BILITIE S A N D 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.

2,640

11,289

13,929

-128,647

7,734

12,739

20,473

-25,435

20,854

28,955

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

1,042,961

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

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

1,013,8

1,023,3

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

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

997,904

1,0

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

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

974,905

994,606

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

4,557

21,487

26,044

25,505

1,745

2,007

1,983

36

925

6,696

18,405

151

176

3,257

21,989

10,212

958,573

968,785

2,090,011

2,328,818

2,893,839

311,761

7,624,429

3,309,692

3,304,880

6,614,572

45,713

964,144

7,624,429

20,292

33,513

1 For differences between figures for 1934 and 1935 and subsequent years, see page 90. Items omitted are not available for 1934 and 1935.

2 Banks reporting to FD IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in 

the District of Columbia. Figures for trust companies not engaged in deposit banking (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and 4 for 1940) 

and banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939) are excluded from this table.

3 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.

N o t e: Minus (-) indicates net loss.

t o

o

Ql EARNINGS OF INSURED BANKS

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

S ubm itting R e p o rts to th e F e d e r a l D ep osit In su ra n ce C o rp oratio n , 1934-1940

(Amounts per $100 of total assets1)

21934 21935 1936 1937 1938 1939 1940

Number of banks3............................................................................................. 7,682 7,723 7,580 7,442 7,307 7,161 6,942

Current operating earnings:

Interest and discount on loans............................................................................... $2.42 $2.21 $2.13 $2.14 $2.21 $2.23 $2.26

Interest and dividends on securities..................................................................... 1.23 1.23 1.24 1.24 1.15 1.04 .89

Commissions, fees, and collection, exchange, and service charges............... .33 .39 .49 .45 .47 .47 .48

.42 .43 .35 .41 .42 .41 .38

Gross current operating earnings.............................................................. 4.40 4.26 4.21 4.24 4.25 4.15 4.01

Current operating expenses:

Interest on time and savings deposits.................................................................. $1.28 $1.06 $0.89 $0.83 $0.81 $0.75 $0.70

Interest and discount on borrowings.................................................................... .06 .02 .02 .01 .01 .01 .00

Directors’ and professional fees.............................................................................. | f .07 .06 .05 .06 .06 .06

Officers’ salaries.......................................................................................................... \ 1.20 i .62 .60 .60 .63 .62 .61

Employees’ salaries and wages............................................................................... J [ .47 .47 .49 .50 .50 .49

Taxes (other than on incom e)................................................................................ .24 .24 .20 .22 .23 .23 .22

Other expenses of occupancy and maintenance of banking quarters........... .13 .09 .19 .20 .20 .21 .21

Other current operating expenses.......................................................................... .75 .73 .60 .62 .61 .60 .58

Total current operating expenses............................................................... 3.66 3.30 3.03 3.02 3.05 2.98 2.87

Net current operating earnings........................................................................... $0.74 $0.96 $1.18 $1.22 $1.20 $1.17 $1.14

Profits on assets sold or exchanged, recoveries, and reductions in

valuation allowances:

Profits on securities sold or exchanged................................................................ $0.23 $0.44 $0.53 $0.25 $0.28 $0.34 $0.24

Profits on other assets sold or exchanged . ............................................ .02 .03 .02 .02 .02

Recoveries and reductions in valuation allowances on loans......................... .14 .15 .23 .20 .16 .15 .14

Recoveries and reductions in valuation allowances on securities................. .10 .16 .21 .10 .11 .14 .12

All other recoveries and reductions in valuation allowances......................... .14 .11 .11 .14 .12 .08 .08

Total profits on assets sold, recoveries, etc............................................ .61 .86 1.10 .72 .69 .73 .60

Net earnings, profits and recoveries on assets, etc...................................... $1.35 $1.82 $2.28 $1.94 $1.89 $1.90 $1.74

Losses, charge-offs, and additions to valuation allowances:

On loans....................................................................................................................... $1.61 $1.02 $0.62 $0.50 $0.39 $0.38 $0.30

1.15 .62 .33 .39 .55 .48 .38

All other losses, charge-offs, and additions to valuation allowances............ .45 .26 .46 .39 .42 .43 •31

Total losses, charge-offs, etc......................................................................... 3.21 1.90 1.41 1.28 1.36 1.29 .99

Net profits before income taxes and dividends............................................. $0.87 $0.66 $0.53 $0.61 $0.75

Federal and State taxes on net income ................................................................. .04 .07 .06 .06 .07

Net profits after income taxes.............................................................................. $-1.86 $-0.08 .83 .59 .47 .55 .68

206 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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

Assets and liabilities:4

Cash and due from banks.

Securities...............................

Loans......................................

Miscellaneous assets...........

Total assets....................

ASSETS

LIA BILITIE S A N D CAPITAL

Demand deposits..................................................................

Time deposits........................................................................

Total deposits................................................................

Miscellaneous liabilities.....................................................

Total capital accounts........................................................

Total liabilities and capital accounts.................

Number of active officers, December 31 (average per bank) 

Number of other employees, December 31 (average per bank) .

$0.04

.19

.23

$-2.09

0.12

.19

.31

$-0.39

2.7

3.7

$0.10

.25

.35

$0.48

$0.06

.04

$0.24

.01

.07

.32

$0.34

1U .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

2.7

4.1

$0.09

.24

.33

$0.26

$0.02

.06

.04

.00

.02

.14

0.21

.01

.00

.05

.27

$0.13

1 3 .8 7

lk-00

$22.07

36.20

36.13

5.60

100.00

$41.93

43.24

85.17

.82

14.01

100.00

2.7

4.4

0.07

.25

.32

$0.15

$0.03

.02

.01

.00

.02

.08

$0.12

.01

.00

.03

.16

$0.07

1 3 .7 9

1 3 .8 6

$21.92

35.31

37.51

5.26

100.00

$40.93

44.58

85.51

.64

13.85

100.00

2.8

4.5

$0.06

.28

.34

$0.21

0.12

.03

.09

.00

.02

.26

$0.16

.00

.00

.04

.20

$0.27

1 3 .1 6

13.US

$24.29

33.42

37.60

4.69

100.00

$42.03

44.04

86.07

.61

13.32

100.00

2.9

4.6

$0.06

.29

.35

$0.33

0.02

.03

.03

.00

.01

.09

0.24

.00

.00

.04

.28

$0.14

1 2 .5 7

12.71

$27.41

30.54

37.95

4.10

100.00

$43.40

43.35

86.75

.60

12.65

100.00

2.9

4.8

1 Total assets for 1937-1940 are averages of figures at beginning, middle, and end of year, and for 1936, averages of figures at end of each month, for banks submitting earnings 

reports; total assets for 1935 are averages of figures at three call dates, and for 1934 averages at two call dates, for banks submitting statements of assets and liabilities.

2 For differences between figures for 1934 and 1935 and subsequent years, see page 90. Items omitted are not available for 1934 and 1935.

3 Banks reporting to FDIC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in the 

District of Columbia. Figures for trust companies not engaged in deposit banking (1 for 1934, 1 for 1935, 2 for 1936, 2 for 1937, 2 for 1938, 3 for 1939, and 4 for 1940) and 

banks for which statements are not available (9 for 1934, 2 for 1935, 2 for 1936, 2 for 1938, and 1 for 1939) are excluded from this table.

4 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.

N o t e : Minus (-) indicates net loss.

EARNINGS OF INSURED BANKS 207

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 152. EARNINGS, E xpenses, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS

Subm itting R e p o rts to th e F e d e r a l D ep osit In su ran ce C o rp oratio n , 1940

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

Number of banks2................................................. 6,871 337 1,785 1,974 1,433 797 397 82 60 6

C urren t op eratin g ea rn in g s:

Interest and discount on loans................................... 171,012 1,379 12,836 24,176

(In thousa 

31,800

nds of dollar 

30,766

■s)

28,338 10,975 22,518 8,224

Interest and dividends on securities......................... 67,770 163 2,004 6,240 9,597 11,258 12,438 5,805 12,675 6,990

Commissions, fees, and collection, exchange, and 

service charges........................................................ 36,179 342 2,972 5,422 6,375 6,141 5,797 2,708 5,004 1,418

Other current operating earnings.............................. 29,213 167 609 1,450 2,206 3,154 4,883 3,535 12,109 1,100

G ross cu rren t op eratin g e a rn in g s .................. 304,174 2,051 19,021 37,288 49,978 51,319 51,456 23,023 52,306 17,732

C urren t operatin g expenses:

Interest on time and savings deposits...................... 52,750 152 2,278 5,598 8,528 9,061 9,591 3,820 8,135 5,587

Interest and discount on borrowings........................

Directors’ and professional fees..................................

346

4,703

3

25

14

297

20

675

13

791

45

850

10

802 288

241

675 300

Officers’ salaries.............................................................. 46,335 587 4,882 8,256 9,156 8,040 6,659 2,743 4,934 1,078

Employees’ salaries and wages................................... 37,444 143 1,127 2,582 4,274 5,903 6,991 3,746 10,023

3,513

2,655

Taxes (other than on incom e).................................... 16,503 117 921 1,706 2,488 2,720 2,963 1,456 619

Other expenses of occupancy and maintenance of 

banking quarters................................................... 16,181 116 920 1,673 2,272 2,391 2,727 1,209 3,904 969

Other current operating expenses.............................. 43,739 345 2,832 5,231 6,881 7,347 7,391 3,576 8,200 1,936

T ota l cu rren t op eratin g expen ses................... 218,001 1,488 13,271 25,741 34,403 36,357 37,134 16,838 39,625 13,144

Net cu rren t operatin g ea rn in g s............................... 86,173 563 5,750 11,547 15,575 14,962 14,322 6,185 12,681 4,588

Profits o n assets sold or exchanged, recoveries, 

and redu ction s in valuation allow an ces:

Profits on securities sold or exchanged.................... 18,519 24 498 1,205 1,992 2,895 3,470 1,929 4,612 1,894

Profits on other assets sold or exchanged............... 1,311 5 84 165 221 210 269 95 112 150

Recoveries and reductions in valuation allowances 

on loans.................................................................... 10,502 108 906 1,498 1,680 1,491 1,662 680 1,795 682

Recoveries and reductions in valuation allowances 

on securities............................................................ 9,411 20 258 605 1,139 1,577 1,848 1,628 1,997 339

All other recoveries and reductions in valuation

6,345 24 282 598 805 1,148 1,045 614 1,054 775

T o ta l profits o n assets sold, recoveries, etc. 46,088 181 2,028 4,071 5,837 7,321 8,294 4,946 9,570 3,840

N et earnings, profits an d recoveries o n assets,

132,261 744 7,778 15,618 21,412 22,283 22,616 11,131 22,251 8,428

Losses, ch arge-offs, and a d d ition s to valu ation 

a llow an ces:

23,093 187 1,537 2,250 3,295 3,441 4,670 1,517 4,856 1,340

On securities............ ....................................................... 28,898 27 676 1,879 3,618 5,032 6,799 3,005 6,755 1,107

All other losses, charge-offs, and additions to 

valuation allowances............................................. 23,353 114 896 1,605 2,253 2,852 3,232 1,433 8,368 2,600

T otal losses, ch arge-offs, e tc ............................. 75,344 328 3,109 5,734 9,166 11,325 14,701 5,955 19,979 5,047

208 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 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, December SO, 1939....................

Total capital accounts, December 31, 19U0....................

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..........

Number of active officers, December 31........

_____ Number of other employees, December 31.. .

56,917

5,653

51,264

416

51

365

4,669

448

4,221

9,884

874

9,010

12,246

1,161

11,085

10,958

925

10,033

7,915

746

7,169

5,176

374

4,802

2,272

751

1,521

3,381

323

3,058

4,540

21,303

31

132

286

1,490

470

3,047

640

3,851

868

3,364

911

3,013

420

1,550

694

3,438

220

1,418

25,843 163 1,776 3,517 4,491 4,232 3,924 1,970 4,132 1,638

25,421 202 2,445 5,493 6,594 5,801 3,245 2,832 -2,611 1,420

1,738 27 103 35 354 282 237 700

1,615 11 64 183 186 456 277 138 300

1,836 26 86 91 714 120 19 780

36 2 34

679 21 43 68 113 55 7 371 1

5,904 32 162 474 425 1,579 686 765 1,781

18,351

151

94

1

1,145 2,571

84

2,401

65

3,630

1

2,688 1,339 2,558 1,925

176 15 9 25

476

60

322

37

1,067

2,443

30

3,256 6 197 500 583 105

21,934 101 1,342 3,170 3,058 4,132 3,070 2,693 1,925

9,391 133 1,265 2,797 3,961 3,248 861 1,154 -3,523 -505

952,1 US

961,53U

8,551

8,684

63,965

65,230

108,849

111,646

146,487

150,448

156,220

159,468

168,243

169,104

78,887

80,041

166,105

162,582

54,836

54,331

2,074,081

2,315,074

2,872,529

310,240

7,571,924

11,239

5,064

16,840

1,387

34,530

112,781

80,221

176,855

10,223

380,080

240,628

194,124

363,208

20,884

818,844

328,680

298,829

493,771

32,096

1,153,376

367,614

359,144

509,257

45,857

1,281,872

369,913

420,523

505,048

61,324

1,356,808

178,518

205,546

206,474

31,376

621,914

350,533

482,704

423,093

92,737

1,349,067

114,175

268,919

177,983

14,356

575,433

3,284,891

3,284,266

6,569,157

45,417

957,350

7,571,924

18,536

7,256

25,792

164

8,574

34,530

200,852

113,875

314,727

853

64,500

380,080

412,511

293,799

706,310

2,326

110,208

818,844

531,246

469,085

1,000,331

4,117

148,928

1,153,376

566,041

552,062

1,118,103

5,458

158,311

1,281,872

553,796

627,709

1,181,505

6,471

168,832

1,356,808

268,650

269,806

538,456

3,865

79,593

621,914

568,152

597,006

1,165,158

20,288

163,621

1,349,067

165,107

353,668

518,775

1,875

54,783

575,433

20,092

33,259

510

293

3,576

2,009

4,931

3,730

4,454

4,957

3,043

5,434

1,977

5,565

624

2,769

848

6,969

129

1,533

t o

o

CD

1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.

2 Banks reporting to FD IC include all insured commercial banks not members of the Federal Reserve System except national banks in the possessions and State banks in 

the District of Columbia. Figures for 4 trust companies not engaged in deposit banking and 71 banks submitting reports covering less than the full year’s operations or 

materially affected by mergers are excluded from this table.

N o te: Minus (-) indicates net loss or net decrease in total capital accounts.

Back figures— See the following Annual Reports: 1939, p. 192; 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 153. Averages PER BANK OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS

Submitting Reports to the Federal Deposit I nsurance Corporation, 1940

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)

Number of banks3................................................. 6,871 337 1,785 1,974 1,433 797 397 82 60 6

C urren t operatin g earn in g s:

Interest and discount on loans................................... $24,889 $4,092 $7,191 $12,247 $22,191 $38,602 $71,380 $133,841 $375,300 $1,370,667

Interest and dividends on securities......................... 9,863 484 1,459 3,161 6,697 14,125 31,330 70,793 211,250 1,165,000

Commissions, fees, and collection, exchange, and 

service charges........................................................ 5,265 1,015 1,665 2,747 4,449 7,705 14,602 33,024 83,400 236,333

Other current operating earnings.............................. 4,252 495 341 735 1,539 3,958 12,300 43,110 201,817 183,333

G ross cu rren t op eratin g ea rn in g s .................. 44,269 6,086 10,656 18,890 34,876 64,390 129,612 280,768 871,767 2,955,333

C u rren t operatin g expen ses:

Interest on time and savings deposits...................... $7,677 $451 $1,276 $2,836 $5,951 $11,369 $24,159 $46,585 $135,583 $931,167

Interest and discount on borrowings........................

Directors’ and professional fees..................................

50

684

9

74

8

166

10

342

9

552

56

1,066

25

2,020 3,512

4,017

11,250 50,000

Officers’ salaries.............................................................. 6,744 1,742 2,735 4,182 6,389 10,088 16,773 33,451 82,233 179,667

Employees’ salaries and wages................................... 5,450 424 631 1,308 2,983 7,407 17,610 45,683 167,050 442,500

Taxes (other than on incom e).................................... 2,402 347 516 864 1,736 3,413 7,463 17,756 58,550 103,167

Other expenses of occupancy and maintenance of 

banking quarters................................................... 2,355 344 515 848 1,585 3,000 6,869 14,744 65,067 161,500

Other current operating expenses.............................. 6,366 1,024 1,588 2,650

13,040

4,802 9,218 18,617 43,610 136,667 322,665

T o ta l cu rren t op eratin g expen ses................... 31,728 4,415 7,435 24,007 45,617 93,536 205,341 660,417 2,190,666

N et cu rren t operatin g earn in gs ............................... $12,541 $1,671 $3,221 $5,850 $10,869 $18,773 $36,076 $75,427 $211,350 $764,667

Profits on assets sold or exchanged, recoveries, 

and red u ction s in valu ation allow an ces:

Profits on securities sold or exchanged.................... $2,695 $71 $279 $610 $1,390 $3,632 $8,741 $23,524 $76,866 $315,667

Profits on other assets sold or exchanged............... 191 15 47 84 154 263 678 1,159 1,867 25,000

Recoveries and reductions in valuation allowances 

on loans.................................................................... 1,528 320 508 759 1,172 1,871 4,186 8,293 29,917 113,667

Recoveries and reductions in valuation allowances 

on securities............................................................ 1,370 59 145 306 795 1,979 4,655 19,854 33,283 56,500

All other recoveries and reductions in valuation 

allowances................................................................ 924 72 157 303 562 1,441

9,186

2,631 7,487

60,317

17,567 129,166

T o ta l profits on assets sold, recoveries, etc. 6,708 537 1,136 2,062 4,073 20,891 159,500 640,000

N et earnings, profits and recoveries o n assets, 

e tc.................................................................................. $19,249 $2,208 $4,357 $7,912 $14,942 $27,959 $56,967 $135,744 $370,850 $1,404,667

Losses, ch arge-offs, and ad d ition s to valu ation 

a llow an ces:

On loans........................................................................... $3,361 $555 $861 $1,140 $2,299 $4,317 $11,763 $18,500 $80,933 $223,333

On securities.................................................................... 4,206 80 379 952 2,525 6,314 17,126 36,646 112,583 184,500

All other losses, charge-offs, and additions to 

valuation allowances............................................. 3,398 339 501 813 1,572 3,579 8,141 17,476

72,622

139,467 433,334

T ota l losses, ch arge-offs, e tc ............................. 10,965 974 1,741 2,905 6,396 14,210 37,030 332,983 841,167

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................................

Cash dividends declared and interest paid on 

c a p ita l:

Interest paid on capital notes and debentures and 

dividends declared on preferred stock. .

Dividends declared on common capital...................

T otal cash dividends declared and interest 

paid on c a p ita l.........................................

Net profits after d ivid en d s...............................

O ther addition s to capital a cco u 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 a ddition s to capital accou n ts

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 c c o u n ts ................................................................

N et cn an ge in total capital accou n ts for y e a r. .

Total capital accounts, December 30, 1939..............

Total capital accounts, December 31, 191+0...........

Assets and lia b ilities:1

ASSETS

Cash and due from banks...........................................

Securities................................................................ ’ ' ’

Loans....................................................................!!!.'.'!

Miscellaneous assets.....................................................

T otal a ssets...............................

LIABILITIES AND CAPITAL

Demand deposits............................................................

Time deposits............................................................

T otal d e p o sits ....................................................

Miscellaneous liabilities...............................................

Total capital accounts..................................................

T otal liabilities and capital a cco u n ts ..........

Number of active officers, December 3 1 ........

Number of other employees, December 31.

$8,284

823

7,461

$1,234

151

1,083

$2,616

251

2,365

$5,007

443

4,564

$8,546

810

7,736

$13,749

1,161

12,588

$19,937

1,879

18,058

$63,122

4,561

58,561

$37,867

12,517

25,350

$563,500

53,833

509,667

$661

3,100

$92

392

$160

835

$238

1,543

$447

2,687

$1,089

4,221

$2,295

7,589

$5,122

18,902

$11,567

57,300

$36,667

236,333

3,761 484 995 1,781 3,134 5,310 9,884 24,024 68,867 273,000

$3,700 $599 $1,370 $2,783 $4,602 $7,278 $8,174 $34,537 $-43,517 $236,667

$253 $15 $52 $24

130

$444

572

$710

698

$2,890

1,683

$11,667

5,000

13,000

235 $33 36 93

267 15 44 64 896 302 232

5 1 17

99 62 24 34 79 69 18 4,524 16 859 95 91 240 297 1,981 1,728 9,329 29,683

$2,671

22

$279

3

$641 $1,302

43

$1,676

45

$4,555

1

$6,771 $16,329 $42,633 $320,833

26 8 6 31

597

151

811

451

13,013

500

1,750

44,883

473 18 111 253 408

3,192 300 752 1,606 2,135 5,184 7,733 29,793 320,833

$1,367 $394 $709 $1,417 $2,764 $4,075 $2,169 $14,073 $-58,717 $-84,166

138,571+

139,91+1

25,371+

25,768

35,835

36,51+1+

55,11+1

56,558

102,221+

101+,988

196,010

200,085

1+23,786

1+25,955

962,037

976,110

2,768,1+17

2,709,700

9,139,333

9,055,167

$301,860

336,934

418,066

45,152

1,102,012

$33,350

15,027

49,970

4,116

102,463

$63,183

44,942

99,078

5,727

212,930

$121,899

98,340

183,996

10,579

414,814

$229,365

208,534

344,572

22,397

804,868

$461,247

450,620

638,967

57,537

1,608,371

$931,771

1,059,252

1,272,161

154,468

3,417,652

$2,177,049

2,506,659

2,517,976

382,633

7,584,317

$5,842,217

8,045,067

7,051,550

1,545,616

22,484,450

$19,029,167

44.819.833

29.663.833

2,392,667

95,905,500

$478,080

477,990

956,070

6,610

139,332

1,102,012

$55,003

21,531

76,534

487

25,442

102,463

$112,522

63,796

176,318

478

36,134

212,930

$208,972

148,834

357,806

1,178

55,830

414,814

$370,723

327,345

698,068

2,873

103,927

804,868

$710,215

692,675

1,402,890

6,847

198,634

1,608,371

$1,394,952

1,581,131

2,976,083

16,299

425,270

3,417,652

$3,276,220

3.290.317

6,566,537

47,134

970,646

7.584.317

$9,469,200

9,950,100

19,419,300

338,133

2,727,017

22,484,450

$27,517,833

58,944,667

86.462.500 

312,500

9,130,500

95.905.500

2.9

4.8

1.5

0.9

2.0

1.1

2.5

1.9

3.1

3.5

3.8

6.8

5.0

14.0

7.6

33.8

14.1

116.1

21.5

255.5

Asset anu uaDiiity items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940

* f° r th*S gr0Up are not necessari|y typical of banks with deposits of more than $50,000,000.

N ote: Minus (-) indicates net loss or net decrease in total capital accounts.

Back figures See the following Annual Reports: 1939, p. 194; 1938, p. 220; 1937, p. 148; 1936, p. 170; 1935, p. 218 (revised); 1934, p. 238.

EARNINGS OF INSURED BANKS 211

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Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Table 154. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS

Submitting Reports to the Federal Deposit Insurance Corporation, 1940

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)

Number of banks3................................................. 6,871 337 1,785 1,974 1,433 797 397 82 60 6

A m ou n ts per $100 o f gross earnings 

C urrent operatin g earnings:

Interest and discount on loans...................................

Interest and dividends on securities.........................

Commissions, fees, and collection, exchange, and

service charges........................................................

Other current operating earning3..............................

G ross cu rren t op eratin g e a rn in g s ..................

C urren t op eratin g expenses:

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

Interest and discount on borrowings........................

Salaries, wages, and fees..............................................

Taxes (other than on incom e)....................................

Other expenses of occupancy and maintenance of 

banking quarters...................................................

T otal cu rrent operatin g expen ses...................

$56.22

22.28

11.89

9.61

100.00

$67.24

7.95

16.67

8.14

100.00

$67.48

13.69

15.62

3.21

100.00

$64.84

16.73

14.54

3.89

100.00

$63.63

19.20

12.76

4.41

100.00

$59.95

21.94

11.97

6.14

100.00

$55.07

24.17

11.27

9.49

100.00

$47.67

25.21

11.76

15.36

100.00

$43.05

24.23

9.57

23.15

100.00

$46.38

39.42

8.00

6.20

100.00

$17.34

.11

29.09

5.43

5.32

14.38

71.67

$7.41

.15

36.81

5.70

5.66

16.32

72.55

$11.98

.07

33.15

4.84

4.84 

14.89 

69.77

$15.01

.05

30.88

4.58

4.49

14.02

69.03

$17.06

.03

28.45

4.98

4.55

13.77

68.84

$17.66

.09

28.83

5.30

4.66

14.31

70.85

$18.64

.02

28.09

5.76

5.30

14.36

72.17

$16.59

29.44

6.32

5.25

15.54

73.14

$15.55

.46

29.89

6.72

7.46

15.68

75.76

$31.51

22.74

3.49

5.46

10.93

74.13

N et cu rren t operatin g ea rn in g s............................... $28.33 $27.45 $30.23 $30.97 $31.16 $29.15 $27.83 $26.86 $24.24 $25.87

A m ou n ts per $100 o f total assets1 

C urrent operatin g earnings:

Interest and discount on loans...................................

Interest and dividends on securities.........................

Commissions, fees, and collection, exchange, and

service charges. ............. . ......................................

Other current operating earnings..............................

Gross cu rren t op eratin g ea rn in g s..............

$2.26

.90

.48

.38

4.02

$3.99

.47

.99

.49

5.94

$3.38

.69

.78

.15

5.00

$2.95

.76

.66

.18

4.55

$2.76

.83

.55

.19

4.33

$2.40

.88

.48

.25

4.01

$2.09

.92

.43

.36

3.80

$1.76

.93

.44

.57

3.70

$1.67

.94

.37

.90

3.88

$1.43

1.21

.25

.19

3.08

C urren t op eratin g expen ses:

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

Interest and discount on borrowings........................

Salaries, wages, and fees..............................................

Taxes (other than on incom e)....................................

Other expenses of occupancy and maintenance of

banking quarters..................................................

Other current operating expenses..............................

T otal cu rrent operatin g expenses...................

$0.70

.00

1.17

.22

.21

.58

2.88

$0.44

.01

2.19

.34

.34

.99

4.31

$0.60

.00

1.66

.24

.24

.75

3.49

$0.68

.00

1.41

.21

.20

.64

3.14

$0.74

.00

1.23

.22

.20

.59

2.98

$0.71

.00

1.15

.21

.19

.58

2.84

$0.71

.00

1.07

.22

.20

.54

2.74

$0.61

1.10

.23

.19

.58

2.71

$0.60

.02

1.16

.26

.29

.61

2.94

$0.97

.70

.11

.17

.33

2.28

Net cu rren t operatin g ea rn in g s............................... $1.14 $1.63 $1.51 $1.41 $1.35 $1.17 $1.06 $0.99 $0.94 $0.80

212 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc........................

Losses and depreciation on assets.............................

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..............................

Cash dividends declared..............................................

N et profits after d iv id e n d s.....................................

Other additions to total capital accounts...............

Other deductions from total capital accounts........

N et ch an ge in tota l capital a c c o u n ts ...............

Total capital accounts, December 30, 1939...............

Total capital accounts, December 31, 191*0...........

A m ou n ts per $100 o f tota l capital 

a ccou n ts1

N et cu rren t operatin g e a rn in g s ..........................

Recoveries, profits on securities, etc........................

Losses and depreciation on assets.............................

N et profits before in co m e taxes and dividends

Federal and State taxes on net incom e...................

N et profits after in co m e taxes..............................

Cash dividends declared..............................................

N et profits after d iv id e n d s.....................................

Other additions to total capital accounts...............

Other deductions from total capital accounts........

N et ch an ge in tota l cap ital a c c o u n ts ...............

S pecial ra tios1

Interest and discount on loans per $100 of total

loans..............................................................................

Interest and dividends on 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.. . .

Assets and liabilities per $100 o f total assets:1

ASSETS

Cash and due from banks...........................................

Securities..........................................................................

Loans.................................................................................

Miscellaneous assets......................................................

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

LIABILITIES AND CAPITAL

Demand deposits............................................................

Time deposits..................................................................

T o ta l d e p o sits ..........................................................

Miscellaneous liabilities...............................................

Total capital accounts..................................................

T ota l liabilities and ca p ita l a c c o u n ts ...............

$0.61 $0.52 $0.53 $0.50 $0.51 $0.57 $0.61 $0.80 $0.71 $0.fi7

1.00 .95 .81 .70 .80 .89 1.09 .96 1.48 .88

.75 i 1.20 1.23 1.21 1.06 .85 .58 .83 .17 .59

.07 .15 .12 .11 .10 .07 .05 .06 .06 .06

.68 1.05 1.11 1.10 .96 .78 .53 .77 .11 .53

.34 .47 .47 .43 .39 .33 .29 .31 .30 .28

.34 .58 .64 .67 .57 .45 .24 .46 -0.19 .25

.08 .09 .04 .06 .04 .12 .05 .12 .13

.29 .28 .35 .39 .27 .32 .23 .39 .20 .34

.13 .39 .33 .34 .34 .25 .06 .19 -0.26 -0.09

12.57 2 b.7 6 16.83 13.29 12.70 12.19 12.1*0 12.68 12.31 9.53

12.70 25.15 17.16 13.63 13.01* 12. 1*1* 12.1*6 12.87 12.05 9.1*1*

$9.00 $6.57 $8.91 $10.48 $10.46 $9.45 $8.48 $7.77 $7.75 $8.37

4.81 2.11 3.14 3.69 3.92 4.62 4.91 6.21 5.85 7.01

7.87 3.83 4.82 5.20 6.16 7.15 8.70 7.48 12.21 9.21

5.94 4.85 7.23 8.97 8.22 6.92 4.69 6.50 1.39 6.17

.59 .59 .69 .79 .78 .58 .44 .47 .46 .59

5.35 4.26 6.54 8.18 7.44 6.34 4.25 6.03 .93 5.58

2.70 1.90 2.75 3.20 3.02 2.68 2.33 2.47 2.53 2.99

2.65 2.36 3.79 4.98 4.42 3.66 1.92 3.56 -1.60 2.59

.62 .37 .25 .43 .29 1.00 .41 .96 1.09

2.29 1.18 2.08 2.88 2.05 2.61 1.82 3.07 1.64 3.51

.98 1.55 1.96 2.53 2.66 2.05 .51 1.45 -2.15 -0.92

$5.95 $8.19 $7.26 $6.66 $6.44 $6.04 $5.61 $5.32 $5.32 $4.62

2.93 3,22 3.25 3.21 3.21 3.13 2.96 2.82 2.63 2.60

.£0 .47 .62 .62 .67 .81 .83 .94 .96 .70

1.61 2.09 2.00 1.91 1.82 1.64 1.53 1.42 1.36 1.58

.80 1.11 .87 .62 .67 .68 .92 .73 1.15 .75

1.25 .53 .84 .97 1.21 1.40 1.62 1.46 1.40 .41

$27.39 $32.55 $29.67 $29.39 $28.50 $28.68 $27.26 $28.70 $25.98 $19.84

30.57 14.67 21.11 23.71 25.91 28.02 30.99 33.05 35.78 46.73

37.94 48.77 46.53 44.36 42.81 39.73 37.22 33.20 31.36 30.93

4.10 4.01 2.69 2.54 2.78 3.57 4.53 5.05 6.88 2.50

100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

$43.38 $53.68 $52.84 $50.38 $46.06 $44.16 $40.82 $43.20 $42.11 $28.69

43.38 21.01 29.97 35.88 40.67 43.06 46.26 43.38 44.26 61.46

86.76 74.69 82.81 86.26 86.73 87.22 87.08 86.58 86.37 90.15

.60 .48 .22 .28 .36 .43 .48 .62 1.50 .33

12.64 24.83 16.97 13.46 12.91 12.35 12.44 12.80 12.13 9.52

100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.

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. 

*For banks excluded, see footnote 2, Table 152.

N ote: Minus (-) indicates net loss on net decrease in total capital accounts.

Back figures— See the following Annual Reports: 1939, p. 196; 1938, p. 222; 1937, p. 150; 1936, p. 172; 1935, p. 220; 1934, p. 240.

EARNINGS OF INSURED BANKS 213

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 155. Ratios of E arnings, E xpenses, and Disposition of Profits of I nsured Commercial Banks

Submitting Reports to the Federal Deposit Insurance Corporation, 1940

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...................................................... 6,871 574 1,246 1,550 1,468 682 462 337 143 411

A m o u n ts per $100 of gross earnings

C urrent 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 earn in gs....................

C urrent operating expenses:

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

Salaries, wages, and fees..................................................

Other expenses of occupancy and maintenance of

banking quarters........................................................

Other current operating expenses.................................

T otal current operating expetsses.....................

Net current operating earn ings..................................

A m o u n ts per $100 of total assets2

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 earn in gs....................

Current operating expenses:

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

Interest and discount on borrowings..........................

Salaries, wages, and fees..................................................

Taxes (other than on income)........................................

Other expenses of occupancy and maintenance of

banking quarters.........................................................

Other current operating expenses.................................

T o ta l current operating expenses.....................

Net current operating earn ings..................................

$56.22

22.28

11.89

9.61

100.00

$71.08

15.22

11.60

2.10

100.00

$68.96

15.92

12.24

2.88

100.00

$61.34

19.08

13.06

3.52

109.00

$61.66

20.03

13.90

4.41

100.00

$58.68

23.31

12.84

5.17

100.00

$58.71

23.52

10.60

7.17

100.00

$54.79

25.11

10.44

9.66

100.00

$56.79

22.54

9.53

11.14

100.00

$48.36

23.79

11.72

16.13

100.00

$17.34 i

.11 j

29.09 i

5.43 !

5.32 |

14.38

71.67 !

$18.57

.05

30.13

3.76

4.31

13.78

70.60

$17.34

.06

29.93

4.40

3.94

14.12

69.79

$17.19

.04

29.71

4.72

4.16

13.77

69.59

$16.35

.04

29.34

5.18

4.30

13.81

69.02

$16.87

.01

29.06

4.93

4.43

13.67

68.97

$17.49

.01

28.62

5.81

4.41

14.32

70.66

$18.42

.01

27.95

5.98

5.33

14.44

72.13

$18.11

.14

26.70

6.05

5.11

14.52

70.63

$17.32

.25

29.50

5.72

6.78

15.00

74.57

$28.33 i! $29.40 $30.21 $30.41 $30.98 $31.03 $29.34 $2 7.87 $29.37 $25.43

$2.26

.90 i

.48 1

.38 j

4.02 ;

$3.15

.67

.51

.09

4.42

$3.13

.72

.55

.13

4.53

$2.83

.84

.58

.15

4.40

$2.62

.85

.59

.19

4.25

$2.34

.93

.51

.21

3.99

$2.28

.91

.41

.29

3.89

$2.04

.93

.39

.36

3.72

$2.13

.84

.36

.41

3.74

$1.91

.94

.46

.63

3.94

$0.70

.00

1.17

.22

.21

.58 I'

2.88 |

|

$0.82

.00

1.33

.17

.19

.61

3.12

$0.79

.00

1.36

.20

.18

.63

3.16

$0.76

.00

1.31

.21

.18

.60

3.06

$0.69

.00

1.25

.22

.18

.59

2.93

$0.67

.00

1.16

.20

.18

.54

2.75

$0.68

.00

1.11

.23

.17

.56

2.75

$0.68

.00

1.04

.22

.20

.54

2.68

$0.68

.01

1.00

.23

.19

.53

2.64

$0.68

.01

1.16

.23

.27

.59

2.94

$1.14 | $1.30 $1.37 $1.34 $1.32 $1.24 $1.14 $1.04 $1.10 $1.00

214 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.............................

N et profits b efore in co m e taxes an d dividends

Federal and State taxes on net incom e...................

N et profits after in co m e taxes..............................

Cash dividends declared...............................................

N et profits after d iv id en d s.....................................

Other additions to total capital accounts...............

Other deductions from total capital accounts........

N et ch an ge in tota l cap ital a c c o u n ts ...............

Total capital accounts, December 30, 1939...............

Total capital accounts, December 31, 191+0...............

A m ou n ts per $100 o f tota l capital 

a ccou n ts2

N et cu rren t op eratin g e a rn in g s ..........................

Recoveries, profits on securities, etc.........................

Losses and depreciation on assets.............................

N et profits before in co m e taxes an d dividends

Federal and State taxes on net incom e...................

N et profits after in co m e taxes..............................

Cash dividends declared...............................................

N et profits after d iv id e n d s.....................................

Other additions to total capital accounts...............

Other deductions from total capital accounts........

N et ch an ge in tota l ca p ital a c c o u n ts ...............

Special ratios2 

Interest and discount on loan3 per $100 of total

loans.........................................................................

Interest and dividends on 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. . .

A ssets and liab ilities:2

ASSETS

Cash and due from banks...........................................

Securities..........................................................................

Loans.................................................................................

Miscellaneous assets.....................................................

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

LIABILITIES AND CAPITAL

Demand deposits............................................................

Time deposits..................................................................

T ota l d e p o sits..........................................................

Miscellaneous liabilities...............................................

Total capital accounts..................................................

T otal liabilities and cap ital a cc o u n ts ...........

$0.61 $0.48 $0.49 $0.55 $0.53 $0.55 $0.58 $0.59 $0.75 $0.68

1.00 .66 .78 .78 .77 .77 1.02 1.06 .86 1.23

.75 1.12 1.08 1.11 1.08 1.02 .70 .57 .99 .45

.07 .09 .10 .09 .10 .08 .07 .05 .05 .07

.68 1.03 .93 1.02 .98 .94 .63 .52 .94 .38

.34 .34 .38 .40 .40 .39 .36 .29 .27 .31

.34 .69 .60 .62 .58 .55 .27 .23 .67 .07

.08 .05 .04 .04 .05 .05 .10 .09 .04 .11

.29 .30 .32 .38 .33 .29 .27 .18 .44 .27

.13 .44 .32 .28 .30 .31 .10 .14 .27 -0.09

12.57 n . n u .u o 1S.U1 12.68 12.27 12.72 12.16 12.88 12.15

12.70 1U-58 11/..72 13.69 12.98 12.58 12.82 12.30 13.15 12.06

$9.00 $9.10 $9.43 $9.88 $10.22 $9.94 $8.93 $8.45 $8.43 $8.30

4.81 3.37 3.39 4.06 4.14 4.41 4.53 4.84 5.73 5.59

7.87 4.62 5.36 5.74 5.96 6.21 8.02 8.62 6.55 10.13

5.94 7.85 7.46 8.20 8.40 8.14 5.44 4.67 7.61 3.76

.59 .62 .68 .64 .74 .61 .53 .45 .38 .60

5.35 7.23 6.78 7.56 7.66 7.53 4.91 4.22 7.23 3.16

2.70 2.40 2.67 2.94 3.15 3.10 2.83 2.35 2.09 2.57

2.65 4.83 4.11 4.62 4.51 4.43 2.08 1.87 5.14 .59

.62 .34 .26 .27 .36 .40 .75 .73 .30 .91

2.29 2.08 2.18 2.80 2.57 2.33 2.08 1.46 3.40 2.20

.98 3.09 2.19 2.09 2.30 2.50 .75 1.14 2.04 -0.70

$5.95 $6.36 $6.55 $6.43 $6.41 $6.05 $6.11 $5.67 $5.67 $5.55

2.93 3.11 3.20 3.28 3.24 3.22 3.12 2.89 2.82 2.67

.80 .68 .61 .70 .69 .73 .73 .87 .92 .86

1.61 1.98 1.98 1.91 1.85 1.76 1.63 1.57 1.50 1.41

.80 .57 .65 .64 .71 .62 .82 .96 .61 .97

1.25 .88 1.17 1.14 1.07 1.26 1.62 1.47 1.32 1.17

(Amounts in thousands of dollars)

2,074,081 36,207 99,304 175,760 278,266 220,691 220,207 234,369 126,412 682,865

2,315,074 29,242 81,939 161,077 241,072 215,903 219,231 276,522 134,930 955,158

2,872,529 66,718 173,473 276,744 375,225 289,459 279,500 307,481 168,873 935,056

310,240 2,624 8,597 14,725 24,336 23,413 29,625 38,346 20,486 148,088

7,571,924 134,791 363,313 628,306 918,899 749,466 748,563 856,718 450,701 2,721,167

3,284,891 59,330 165,463 293,142 453,860 367,601 339,052 376,231 186,484 1,043,728

3,284,266 55,994 144,303 248,675 344,825 286,500 312,046 372,792 203,268 1,315,863

6,569,157 115,324 309,766 541,817 798,685 654,101 651,098 749,023 389,752 2,359,591

45,417 192 766 1,303 1,997 2,108 1,907 2,649 2,148 32,347

957,350 19,275 52,781 85,186 118,217 93,257 95,558 105,046 58,801 329,229

7,571,924 134,791 363,313 628,306 918,899 749,466 748,563 856,718 450,701 2,721,167

1 For banks excluded, see footnote 2, Table 152.

1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.

N o t e: Minus (-) indicates net decrease in total capital accounts.

Bach figures— See the following Annual Reports: 1939, p. 198; 1938, pp. 224-227; 1937, pp. 152-155; 1936, pp. 174-177.

EARNINGS OF INSURED BANKS 215

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 156. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS

Submitting Reports to the Federal Deposit Insurance Corporation, 1940

BANKS GROUPED ACCORDING TO RATE OF NET EARNINGS

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................................................. 6,871 19 57 385 1,586 2,125 1,491 637 301 220

A m ou n ts per $100 of gross earnings 

C u rren t operatin g earnings:

Interest and discount on loans................................... $56.22 $39.10 $45.73 $38.78 $50.20 $57.09 $62.81 $64.64 $68.63 $69.05

Interest and dividends on securities......................... 22.28 28.53 26.62 25.13 26.57 25.07 19.02 14.74 8.80 6.28

Commissions, fees, and collection, exchange, and 

service charges........................................................ 11.89 14.10 14.33 12.73 11.05 9.75 12.37 15.54 16.07 20.19

Other current operating earnings.............................. 9.61 18.27 13.32 23.36 12.18 8.09 5.80 5.08 6.50 4.48

G ross cu rren t op eratin g e a rn in g s .................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 109.00 100.00

C u rren t operatin g expen ses:

Interest on time and savings deposits..................... $17.34 $25.32 $18.60 $16.22 $18.62 $20.94 $14.64 $11.55 $11.08 $9.73

Interest and discount on borrowings........................ .11 .32 .25 .95 .01 .02 .09 .09 .06 .11

Salaries, wages, and fees............................................. 29.09 55.13 46.11 39.32 31.07 26.58 27.03 27.60 27.54 26.32

Taxes (other than on incom e).................................... 5.43 9.94 6.62 7.19 6.48 5.06 4.99 4.35 3.52 3.62

Other expenses of occupancy and maintenance of 

banking quarters................................................... 5.32 12.82 11.34 9.70 6.07 4.73 3.96 4.42 3.92 4.33

Other current operating expenses.............................. 14.38 24.68 20.14 17.84 16.05 13.00 13.17 14.17 14.06 12.33

T otal cu rrent operatin g expenses................... 71.67 128.21 103.06 91.22 78.30 70.33 63.88 62.18 60.18 56.44

Net cu rren t operatin g ea rn in g s............................... $28.33 $-28.21 $-3.06 $8.78 $21.70 $29.67 $36.12 $37.82 $39,82 $43.56

A m ou n ts per $100 of tota l assets1 

C u rren t operatin g earnings:

Interest and discount on loans................................... $2.26 $0.93 $1.28 $1.22 $1.72 $2.24 $2.87 $3.70 $4.57 $5.78

Interest and dividends on securities......................... .90 .68 .75 .79 .91 .98 .87 .84 .59 .53

Commissions, fees, and collection, exchange, and 

service charges........................................................ .48 .34 .40 .40 .38 .38 .56 .89 1.07 1.69

Other current operating earnings.............................. .38 .43 .37 .74 .41 .32 .26 .29 .43 .37

G ross cu rren t operatin g e a rn in g s .................. 4.02 2.38 2.80 3.15 3.42 3.92 4.56 5.72 6.66 8.37

C u rren t operatin g expenses:

Interest on time and savings deposits..................... $0.70 $0.60 $0.52 $0.51 $0.64 $0.82 $0.67 $0.66 $0.74 $0.81

Interest and discount on borrowings........................ .00 .01 .01 .03 .00 .00 .00 .00 .00 .01

Salaries, wages, and fees............................................. 1.17 1.31 1.29 1.24 1.06 1.04 1.23 1.58 1.84 2.20

Taxes (other than on incom e).................................... .22 .24 .19 .23 .22 .20 .23 .25 .23 .30

Other expenses of occupancy and maintenance of 

banking quarters................................................... .21 .30 .32 .31 .21 .19 .18 .25 .26 .36

Other current operating expenses.............................. .58 .59 .56 .55 .55 .51 .60 .82 .94 1.04

T otal cu rrent operatin g expenses................... 2.88 3.05 2.89 2.87 2.68 2.76 2.91 3.56 4.01 4.72

N et cu rren t operatin g ea rn in g s............................... $1.14 $-0.67 $-0.09 $0.28 $0.74 $1.16 $1.65 $2.16 $2.65 $3.65

216 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.............................

N et profits before in co m e taxes and dividends

Federal and State taxes on net incom e...................

N et profits after in co m e taxes ..............................

Cash dividends declared..............................................

N et profits after d iv id en d s.....................................

Other additions to total capital accounts...............

Other deductions from total capital accounts........

N et ch an ge in tota l capital a c c o u n ts ...............

Total capital accounts, December 30, 1939.................

Total capital accounts, December 81, 191+0.................

A m ou n ts per $100 o f tota l capital 

a ccou n ts1

N et cu rren t op eratin g ea rn in g s ......................

Recoveries, profits on securities, etc....................

Losses and depreciation on assets.........................

N et profits before in com e taxes and dividends

Federal and State taxes on net incom e...............

N et profits after in co m e taxes..........................

Cash dividends declared..........................................

Net profits after d iv id en d s.................................

Other additions to total capital accounts...........

Other deductions from total capital accounts.. 

N et ch an ge in to ta l capital a c c o u n ts ...........

Special ra tios1 

Interest and discount on loans per $100 of total

loans.........................................................................

Interest and dividends on 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. .

Assets and lia b ilities:1

ASSETS

Cash and due from banks.........................................

Securities........................................................................

Loans...............................................................................

Miscellaneous assets...................................................

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

LIABILITIES AND CAPITAL

Demand deposits..........................................................

Time deposits................................................................

T otal d e p o sits ........................................................

Miscellaneous liabilities.............................................

Total capital accounts................................................

T otal liabilities and capital a cco u n ts .........

$0.61

1.00

.75

.07

.68

.84

.34

.08

.29

.13

12.57

12.70

$9.00

4.81

7.87

5.94

.59

5.35

2.70

2.65

.62

2.29

.98

$5.95

2.93

.80

1.61

.80

1.25

$1.37

1.53

-0.83

.05

- 0.88

.19

-1.07

.90

.11

-0.28

13.79

13.51

$ 4 .9 3

10.09

11.27

- 6.11

.39

-6.50

1.40

-7.90

6.61

.78

-2.07

$5.81

2.64

3.50

1.22

.95

2.28

$1.21

1.15

-0.03

.03

-0.06

.13

-0.19

.11

.30

-0.38

11.61

11.23

$-0.75

10.63

10.10

- 0.22

.35

-0.57

1.14

-1.71

.97

2.64

-3.38

$4.67

2.35

2.32

1.46

1.99

1.44

$0.71 

.98 

.01 

.01

-0.00 

.16 

-0.16 

.18 

.17 

-0.15 

11.6 k

11.1+9

$2.39

6.19

8.50

.08

.10

- 0.02

1.33

-1.35

1.52

1.47

-1.30

$4.79

2.39

1.22

1.25

.73

.95

$0.62

1.05

.31

.04

.27

.26

.01

.09

.31

- 0.21

12.17

11.96

$6.16

5.11

8.73

2.54

.29

2.25

2.17

.08

.73

2.57

-1.76

$5.35

2.71

.80

1.52

.84

1.24

$0.59

.94

.81

.06

.75

.32

.43

.05

.29

.19

11.98

12.17

$9.61

4.88

7.79

6.70

.51

6.19

2.66

3.53

.41

2.39

1.55

$5.60

3.04

.67

1.67

.70

1.32

$0.56

.93

1.28

.10

1.18

.43

.75

.06

.33

.48

13.27

13.75

$12.18

4.11

6.80

9.49

.74

8.75

3.17

5.58

.44

2.47

3.55

$6.39

3.39

.77

1.70

.76

1.31

$0.50

1.06

1.60

.19

1.41

.60

.81

.05

.30

.56

15.1+2

15.98

$13.72

3.15

6.73

10.14

1.17

8.97

3.84

5.13

.35

1.96

3.52

$7.50

3.59

.58

1.86

.99

1.06

(Amounts in thousands of dollars)

$0.72 

1.16 

2.21 

.30 

1.91 

.84 

1.07 

.04 

.23 

.88

11+.87

15.75

$17.20

4.66

7.52

14.34

1.96 

12.38

5.41

6.97 

.23

1.51

5.69

$8.12

3.28

.84

1.84

1.17

1.62

$0.50

1.09

3.06

.50

2.56

1.01

1.55

.09

.34

1.30

18.55

19.85

$18.96

2.62

5.67

15.91

2.58

13.33

5.24

8.09

.44

1.77

6.76

$9.37

3.69

.56

1.95

.96

1.39

. 2,074,081 7,130 20,969 268,270 701,996 618,221 275,175 106,877 50,360 25,083

. 2,315,074 3,376 17,752 252,082 784,353 828,646 268,650 104,824 38,314 17,077

. 2,872,529 2,099 15,365 194,342 750,456 1,025,867 470,124 219,681 120,705 73,890

. 310,240 522 1,886 48,492 105,917 96,046 34,284 14,482 4,812 3,799

. 7,571,924 13,127 55,972 763,186 2,342,722 2,568,780 1,048,233 445,864 214,191 119,849

, 3,284,891 4,880 29,468 352,205 1,070,562 990,834 491,597 210,668 91,370 43,307

, 3,284,266 6,454 19,978 312,790 981,073 1,258,373 411,164 158,286 86,191 49,957

6,569,157 11,334 49,446 664,995 2,051,635 2,249,207 902,761 368,954 177,561 93,264

45,417 9 167 9,986 8,967 8,929 3,634 6,607 8,587 3,531

957,350 1,784 6,359 88,205 282,120 310,644 141,838 70,303 33,043 23,054

7,571,924 13,127 55,972 763,186 2,342,722 2,568,780 1,048,233 445,864 214,191 119,849 t o

h-*

-3 1 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.

2 For banks excluded, see footnote 2, Table 152.

N o t e: Minus (—) indicates net deficit, net loss, or net decrease in total capital accounts.

Back figures— See the following Annual Reports: 1939, p. 200; 1938, pp. 228-231; 1937, pp. 156-159; 1936, pp. 182-185.

EARNINGS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO RATE OF INCOME ON LOANS1

Table 157. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS

Submitting Reports to the Federal Deposit Insurance Corporation, 1940

All

banks

Banks with income on loans1 per $100 of total loans of— 2

Less than

$4.00

$4.00

to $4.93

$5.00

to $5.99

$6.00

to $6.99

$7.00

to $7.99

$8.00

to $8.99

$9.00

to $9.99

$10.00

to $11.99

$12.00

or more

Number of banks3...................................................... 6,871 97 565 1,889 1,922 1,096 599 306 259 138

A m ou n ts per $100 o f gross earnings 

C urren t op eratin g earnings:

Interest and discount on loans......................................

Interest and dividends on securities............................

Commissions, fees, and collection, exchange, and

service charges.............................................................

Other current operating earnings.................................

Gross cu rren t operatin g ea rn in g s ..................

$56.22

22.28

11.89

9.61

1G0.G0

$30.00

31.60

14.76

23.64

100.00

$42.68

27.97

10.87

18.48

100.00

$56.67

25.04

9.88

8.41

100.00

$60.60

21.05

12.14

6.21

100.00

$65.05

16.15

14.15

4.65

100.00

$67.87

13.29

15.24

3.60

100.00

$75.45

6.07

16.24

2.24

100.00

$74.52

7.53

15.28

2.67

100.00

$78.07

8.30

11.22

2.41

100.00

C urren t op eratin g expenses:

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

Interest and discount on borrowings..........................

Salaries, wages, and fees..................................................

Taxes (other than on income)........................................

Other expenses of occupancy and maintenance of

banking quarters.............................................v . . . .

Other current operating expenses.................................

T otal cu rren t operatin g expenses...................

$17.34

.11

29.09

5.43

5.32

14.38

71.67

$12.37

.00

33.12

6.53

8.50

17.25

j 77.77

$17.60

.42

29.76

6.39

6.18

14.37

74.72

$21.56

.03

26.87

5.26

4.98

13.73

72.43

$17.16

.02

28.67

5.41

4.55

13.69

69.50

$14.20

.13

30.68

5.18

4.53

14.36

69.08

$10.69

.07

32.21

4.93

5.38

13.96

67.24

$11.97

.12

31.24

3.88

5.14

17.42

69.77

$9.25

.07

31.26

3.93

5.11

15.98

65.60

$9.21

.15

31.91

3.21

6.45

16.84

67.77

Net cu rren t operatin g ea rn in g s............................... $28.33 ! $22.23 $25.28 $27.57 $30.50 $30.92 $32.76 $30.23 $34.40 $32.23

A m ou n ts per $100 of total assets2 

C urren t operatin 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 operatin g ea rn in g s ..................

$2.26

.90

.48

.38

4.02

$0.88

.92

.43

.69

2.92

$1.49

.98

.38

.65

3.50

$2.13

.94

.37

.32

3.76

$2.57

.89

.51

.27

4.24

$3.04

.76

.66

.22

4.68

$3.54

.69

.80

.19

5.22

$5.57

.45

1.20

.16

7.38

$5.13

.52

1.05

.18

6.88

$6.08

.65

.87

.18

7.78

C u rren t operating expenses :

Interest and discount on borrowings..........................

Salaries, wages, and fees..................................................

Taxes (other than on income)........................................

Other expenses of occupancy and maintenance of

banking quarters.........................................................

Other current operating expenses.................................

T otal cu rrent operatin g expenses...................

i

$0.70

.00

1.17

.22

.21

.58 I

2.88

1

$0.36

.00

.97

.19

.25

.50

2.27

$0.62

.01

1.04

.22

.22

.51

2.62

$0.81

.00

1.01

.20

.19

.51

2.72

$0.73

.00

1.22

.23

.19

.58

2.95

$0.66

.01

1.44

.24

.21

.67

3.23

$0.56

.00

1.68

.26

.28

.73

3.51

$0.88

.01

2.31

.29

.38

1.28

5.15

$0.64

.00

2.15

.27

.35

1.10

4.51

$0.72

.01

2.48

.25

.50

1.31

5.27

N et cu rren t operatin g ea rn in g s............................... $1.14 $0.65 $0.88 $1.04 $1.29 $1.45 $1.71 $2.23 $2.37 $2.51

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc............

Losses and depreciation on assets.................

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.....................

Cash dividends declared......................................

N et profits after d iv id en d s ............................

Other additions to total capital accounts. . . . 

Other deductions from total capital accounts 

N et ch an ge in tota l capital a ccou n ts ....

Total capital accounts, December 30, 1939. . . .

Total capital accounts, December 31, 191+0. . . .

A m ou n ts per $100 o f to ta l capital 

a ccou n ts2

N et cu rren t op era tin g e a rn in g s .............

Recoveries, profits on securities, etc............

Losses and depreciation on assets...................

N et profits before in co m e taxes and dividends

Federal and State taxes on net incom e...........

N et profits after in co m e taxes .....................

Cash dividends declared......................................

Net profits after d iv id en d s ............................

Other additions to total capital accounts. . . . 

Other deductions from total capital accounts 

N et ch an ge in tota l ca p ita l a c c o u n ts . . . .

Special ra tios2

Interest and discount on loans per $100 of total

loans.........................................................................

Interest and dividends on 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. .

A ssets and lia b ilities:2

ASSETS

Cash and due from banks.........................................

Securities........................................................................

Loans...............................................................................

Miscellaneous assets...................................................

T ota l a ssets.............................................................

LIABILITIES AND CAPITAL

Demand deposits..........................................................

Time deposits................................................................

T o ta l d e p o sits........................................................

Miscellaneous liabilities.............................................

Total capital accounts................................................

T o ta l liabilities an d ca p ita l a cco u n ts .........

$0.61

1.00

.75

.07

.68

.34

.34

.08

.29

.13

12.57

12.70

$9.00

4.81

7.87

5.94

.59

5.35

2.70

2.65

.62

2.29

.98

$5.95

2.93

.80

1.61

.80

1.25

$0.68

1.73

-0.40

.03

-0.43

.26

-0.69

.12

.22

-0.79

11.99

11.20

$5.65

5.91 

15.01 

-3.45

.32

-3.77

2.25

- 6.02

1.05

1.92 

-6.89

$3.45

2.41

.94

1.00

1.39

1.00

$0.60

1.02

.46

.04

.42

.26

.16

.12

.33

-0.05

12.60

12.55

$7.03

4.78

8.15

3.66

.31

3.35

2.08

1.27

.95

2.63

-0.41

$4.55

2.79

.85

1.43

.90

1.13

$0.63

.91

.76

.05

.71

.31

.40

.04

.22

.22

12.08

12.30

$8.50

5.13

7.38

6.25

.44

5.81 

2.52 

3.29

.37

1.85

1.81

$5.42

2.95

.78

1.63

.62

1.38

$0.60

.96

.93

.09

.84

.35

.49

.09

.36

22

12\82

13.01+

$10.01

4.61

7.46

7.16

.64

6.52

2.71

3.81

.72

2.79

1.74

$0.54

.74

1.25

.12

1.13

.43

.70

.08

.38

.40

13.01+

13.U

$ 10.88

4.04

5.55

9.37

.86

8.51

3.24

5.27

.58

2.88

?.«7

$6.38

3.16

.80

1.75

.75

1.45

$7.38

3.15

.63

.79

.93

$0.56

.74

1.53

.16

1.37

.55

.82

.01

.35

.48

11+.11+

11+.62

$11.85

3.91

5.13

10.63

1.10

9.53

3.83

5.70

.03

2.41

3.32

$8.40

3.36

.57

1.96

1.02

.60

$0.65

1.03

1.85

.28

1.57

.73

.84

.09

.21

.72

12.61

13.33

$17.11

4.99

7.94

14.16

2.13

12.03

5.63

6.40

.71

1.57

5.54

$9.49

3.55

.97

1.92

.98

1.71

(Amounts in thousands of dollars)

$0.49

.91

1.95

.33

1.62

.78

.84

.01

.30

.55

16.12

16.67

$14.37

3.00

5.53

11.84

1.98

9.86

4.76

5.10

.05

1.81

3.34

$10.80

3.29

.52

1.96

1.12

.79

$0.51

1.25

1.77

.32

1.45

.86

.59

.01

.11

.49

17.78

18.27

$13.81

2.79

6.88

9.72

1.74 

7.98

4.75 

3.23

.05

.57

2.71

$13.73

3.35

.31

2.04

2.11

.51

2,074,081 195,439 409,441 685,070 428,285 181,017 90,606 53,982 35,133 15,108

2,315,074 238,666 545,290 859,127 432,301 135,582 53,912 25,576 16,197 8,423

2,872,529 158,286 509,655 1,058,305 615,929 233,272 110,109 118,805 48,859 19,309

310,240 29,763 88,211 109,031 52,995 16,253 6,447 3,964 2,769 807

7,571,924 622,154 1,552,597 2,691,533 1,529,510 566,124 261,074 202,327 102,958 43,647

3,284,891 322,091 673,458 1,016,532 691,339 288,009 147,429 75,760 50,955 19,318

3,284,266 224,689 670,588 1,337,840 635,618 199,595 74,222 92,938 33,406 15,370

6,569,157 546,780 1,344,046 2,354,372 1,326,957 487,604 221,651 168,698 84,361 34,688

45,417 3,771 13,133 8,652 4,875 3,298 1,767 7,246 1,648 1,029

957,350 71,603 195,418 328,509 197,678 75,224 37,656 26,383 16,949 7,930

7,571,924 622,154 1,552,597 2,691,533 1,529,510 566,124 261,074 202,327 102,958 43,647 tND 

I—*

CO

1 Income on loans consists of the amount reported against the caption, “ Interest and discount on loans,” which includes renewal, mortgage, and other fees charged in connection with loans owned by the bank.

2 Asset and liability items are averages of figures for December 30, 1939, June 29, 1940, and December 31, 1940.

3 For banks excluded, see footnote 2, Table 152.

N o te: Minus (-) indicates net loss or net decrease in total capital accounts.

EARNINGS OF INSURED BANKS

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Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars)

T a b le 158. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED MUTUAL SAVINGS BANKS, 1934-1940

1934 1935 1936 1937 1938 1939 1940

Number of banks............................................................................................... 68 56 56 56 48 51 53

C urren t op eratin g earnings:

Interest and discount on loans...............................................................................

Interest and dividends on securities.....................................................................

Commissions, fees, and collection, exchange, and service charges..............

Other current operating earnings........................................................................

Gross cu rren t operatin g ea rn in g s ..............................................................

C urrent operatin g expenses:

Interest and discount on borrowings . • ...............................

25,059

18,866

44

3,850

47,819

20,769

17,152

104

4,707

42,732

18,893

16,551

132

5,805

41,381

18,759

15,649

228

7,412

42,048

20,328

15,581

321

8,241

44,471

25,075

22,489

168

9,224

56,956

27,879

32,251

95

10,740

70,965

C1)

| 3,509

22,8 66 

394 

5,474 

11,943

0)

3,162

23,049

3124

6,554

12,889

18

\ 162 

t 1,254 

( 1,928 

3,111 

606 

7,270 

14,349

34

201

1,360

2,048

3,800

751

7,619

15,813

4

236

1,320

2,141

4,128

700

7,774

16,303

Officers’ salaries..........................................................................................................

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 expenses...............................................................

Net cu rrent operatin g ea rn in g s...........................................................................

Profits on assets sold or exchanged, recoveries, and reduction s in 

valuation allow ances:

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 otal profits on assets sold, recoveries, e tc ............................................

N et earnings, profits and recoveries on assets, e tc ......................................

Losses, ch arge-offs, and ad d ition s to valuation allow an ces:

On loans ............................................................................................................

180

1,808

3,361

4,798

931

8,628

19,706

285

2,137

4,827

5,489

1,461

8,343

22,542

35,876 29,843 27,032 26,235 28,168 37,250 48,423

1,355

(4)

702

833

2,591

5,481

2,457

(4)

1,813

1,170

1,527

6,967

4,032

1,843

999

263

4,524

11,661

3,466

2,414

774

93

3,675

10,422

4,244

2,250

693

108

1,057

8,352

8,207

781

345

1,163

3,436

13,932

6,885

373

405

1,615

2,964

12,242

41,357 36,810 38,693 36,657 36,520 51,182 60,665

2,567

5,300

3,230

11,097

2,557

3,276

2,642

8,475

1,656

3,101

6,868

11,625

4,874

7,089

3,266

15,229

1,127

13,409

13,810

28,346

2,446

9,914

13,701

26,061

18,230

14,144

15,280

47,654

On securities . ..................................................................................................

All other losses, charge-offs, and additions to valuation allowances............

T ota l losses, ch arge-offs, e tc .........................................................................

220 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends............................................

Federal and State taxes on net incom e......................................i...........................

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:

Capital notes and debentures issued (face value).........

Assessments and other contributions................................

Total other additions to capital accounts..........

Other deductions from capital accounts:

Capital notes and debentures retired (face value)........

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......................................

Number of active officers, December 31. . . 

Number of other employees, December 31.

(6)

(5)

30,260

26,701

1,550

28,251

2,009

(6)

(6)

(°)

(S)

(6)

(6)

(6)

(5)

28,335

22,132

297

22,429

5,906

(6)

(6)

(6)

(6)

(6)

(6)

27,068

6

27,062

19,607

479

2G,G86

6,976

44

44

1,050

35

1,085

5,935

125,772

131,707

244

1,183

21,428

8

21,420

19,262

407

19,669

1,751

81

24

105

1,664

131,707

133,371

250

1,238

8,174

8,166

19, 04 

393

19,697

-11,531

1,576

21

1,597

565

26

591

-10,525

132,670

1 2 2 ^ 5

232

1,217

25,121

29

25,092

26,550

359

26,909

25

25

159

40

199

-1,991

15 If.,5 20

152,529

273

1,858

13,011

117

12,894

31,3G3

405

31,768

-18,874

711

18

729

-19,603

180,203

160,600

310

2,693

B 

>

2 t—f 

£ 

a

OQ

2

U1

a

w

B

C

W

>

«

w

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.

s N ot available. See footnote 2.

8 Not available.

N o t e: Minus (-) indicates net loss or net decrease in total capital accounts.

t o

t o

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SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

Table 159. NUM BER AND DEPOSITS OF BANKS W HICH SUSPENDED OPERATIONS, 1934-1940

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

U nited States— t o ta l......................................... 315 229 16 6 207 86 132,050 91,146 14,822 26,548 49,776 40,904

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

11,412

9,005 5,263 3,742 847

1936 ........................................ 44 41 1 40 3 10,820 507 10,313 592

1937 .................................................................... 59 53 4 2 47 6 19,722 19,242 7,379 1,708 10,155 480

1938 .................................................................... 56 49 1 1 47 7 313,172 11,969 36 211 11,722 31,203

1939....................................................................... 42 32 4 3 25 10 34,997 32,558 1,341 24,629 6,588 2,439

1940 ............................................................ 23 19 1 18 4 5,958 5,600 256 5,344 358

Banks w ith deposits o f— 1

$100 000 or less 124 86 2 84 38 7,073

15,951

16,465

5,042

12,437

10,447

76 4,966 2,031

$100,000 to $250,000.......................................

$250,000 to $500,000.......................................

102

48

79

31

2

7

2

1

75

23

23

17

376

2,318

313

365

11,748

7,764

3,514

6,018

$500 000 to $1,000,000 21 18 1 17 3 15,100 12,756 507 12,249 2,344

$1 000 000 to $2 000 000 9 9 2 1 6 12,574

23,104

12,574

16,223

3,456 1,343 7,775

$2,000,000 to $5,000,000................................ 8 5 2 1 2 3 8,089 2,860 5,274 9,881

$5 000 000 to $10 000 000 2 2 17,116

21,667

17,116

$10 000 000 to $50 000 000 1 1 1 21,667 21,667

More than $50 000 000

State

Alabama 1 1 1 100 100 100

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

1,013

3,884

1,514 464 1,050

Georgia • . . . 9 7 7 2 967 967 46

Illinois ............................................... 7 5 1 4 2 3,743 102 3,641 141

Indiana • ........... 31 j 14 14 17 5,704

4,805

3,416 3,416 2,288

8 I 4 1 3 4 4,097 3,594 503 708

Kansas ................................ .. 10 5 1 4 5 944 552 256 296 392

222 FEDERAL DEPOSIT INSURANCE CORPORATION

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K entucky.........

Louisiana.........

M aryland.........

Michigan..........

Minnesota........

Mississippi

Missouri...........

Montana..........

Nebraska..........

New Jersey.. . .

New Y ork........

North D akota.

Ohio...................

Oklahoma........

Pennsylvania. .

South Carolina 

South Dakota.

Tennessee........

Texas.................

Verm ont...........

Virginia.............

West Virginia. . 

W isconsin........

23

4

2

4

4

2

46

3

8

19

3

19

5 

7

3

22

10

18

1

5

3

21

19

3 

2 

2

4

2

32

3

4 

11

1

18

2

5

6

1

22

8

16

1

3

3

17

2

32

2

3

7

18

1

5

4

1

20

8

15

1

1

2

17

6,445

1,697

828

3294

552

153

6,719

213

965

53,031

9,041

1,524

2,964

889

9,166

347

2,759

1,679

3,645

2,479

1,025

1,649

4,849

4,639

1,654

828

81

552

153

4,671

213

532

30,917

1,982

1,509

2,242

825

8,699

136

2,759

1,389

3,071

2,479

558

1,649

4,130

1,474

40

194

1,982

261 

' 4,824

507

36

495

410

3,165 1,806

1,654 43

828

81 3213

267

153

4,671 2,048

173

338 433

4,682 22,114

7,059

1,509 15

1,981 722

825 64

3,875 467

136 211

2,041

1,389 290

3,035 574

2,479

63 467

1,239

4,130 719

sands ^f^doUars0^ *nsur0(^ ^anks are as date of suspension; deposits of noninsured banks are as of latest report prior to suspension. Figures for each bank are rounded to thou-

- Excludes noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation.

3 Revised.

N o t e : For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, see pages 90-91.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 223

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GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE

Table 160. Number AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD

of the Federal Deposit Insurance Corporation, 1935-1940

United States— total.

Calendar year

193 5 

193 6 

193 7 

1938.

1939.

1940.

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

Alabam a. . 

California. 

Florida 

G eorgia. . . 

Illinois. . . .

Indiana. . .

Iow a..........

K ansas.... 

K entucky. 

M aryland.

Number

Total

129

1

27 

25

24

28 

24

23

22

19

19

18

16

6

6

Banks members 

F. R. System

National State

Banks not 

members 

F. R. 

System

10 89

Deposits (in thousands of dollars)1

Total

352,720

4,357

16,696

18,296

50,054

125,145

138,172

1,426

3,678

6,838

14,637

26,010

50,645

41,721

207,765

428

1,078

274

29

4,780

5,769

5,019

240

3,528

3,707

Banks members 

F. R. System

National

47,961

2,166

12,246

4,631

18,100

10,818

161

127

2,185

4,457

10,105

22,077

8,8

428

1,078

274

1,164

3,594

State

148,107

3,734

648

22,564

1,187

119,974

648

2,461

10,539

134,459

Banks not 

members 

F. R.

System

156,652

4,357

10,796

5,402

22,859

105,858

7,380

1,265

3,551

4,653

9,532

13,444

18,029

32,872

73,306

29

3,616

5,769

1,425

240

3,528

3,707

Disbursement (in thousands of dollars)2

Total

148,956

2,865

6,771

7,125

21,386

41,571

69,238

643

1,309

3,083

6,912

10,648

20,971

16,504

88,886

143

861

97

17

2,050

1,234

1,076

72

1,093

2,374

Banks members 

F. R. System

National

17,972

783

4,946

1,810

6,703

3,730

71

23

696

2,512

3,574

8,327

2,769

143

861

97

220

73,715

1,552

97

8,595

703

62,768

97

1,532

3,860

Banks not 

members 

F. R. 

System

57,269

2,865

4,436

2,082

10,981

34,165

2,740

572

1,286

2,387

4,303

5,542

8,784

13,735

20,660

17

1,856

1,234

856

72

1,093

2,374

224 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Massachusetts. .

Michigan............

Missouri.............

Montana.............

New Hampshire

New Jersey........

New Y ork..........

North Carolina. 

North D akota. . 

Oklahoma...........

Pennsylvania. . , 

South D akota..

Tennessee...........

Texas...................

Verm ont.............

Virginia...............

W ashington. . . . 

Wisconsin...........

2

3 

11

1

1

25

16

4 

11

2

5 

1 

4 

1 

1

1

10

3,042

12,221

1,876

83

297

151,731

109,138

869

2,292

586

36,545

127

322

78

352

4,085

1,548

2,676

2,233

1,729

83

297

13,764

18,448

2,679

127

1,548

3,734

809

6,758

1,876

29,067 108,900

85,944 4,746

869

2,292

149

29,362 4,504

4,085

2,676

1,564

4,795

582

27

117

53,464

48,258

292

1,262

85

24,546

23

114

44

186

2,364

935

1,281

1,298

730

27

117

7,001

4,433

1,796

23

935

1,552

266

2,513

582

10,498 35,965

41,888 1,937

292

1,262

32

19,777 2,37S

114

186

2,364

1,231

1 Deposits are as of date of examination prior to loan, computed from figures for each bank rounded to thousands of dollars.

Principal of loans and purchase price of assets as shown by books of FD IC , December 31, 1940, computed from figures for each bank rounded to thousands of dollars. 

Includes under date of original disbursement all disbursements made in subsequent years. Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.

N o t e : For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pa^es 90-91.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 225

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Federal Reserve Bank of St. Louis
Table 161. N u m ber AND DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP OR MERGED WITH THE FINANCIAL AlD

o f th e F e d e ra l D ep osit In su ran ce C o rp oratio n , 1934-1940

GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE

Number Deposits (in thousands of dollars)1

Total

Banks members F. R. 

System Banks not 

members 

F. R.

System

Total

Banks members F. R. 

System Banks not 

members 

F. R.

System National State National State

United States— total........................................................................................................ 355 45 16 294 437,406 59,189 174,655 203,562

Calendar year

1934...................................................................................................................................... 9 1 8 1,952

13,058

27,735

33,011

40 1,912

7,795

21,328

14,624

1935...................................................................................................................................... 25 4 21 5,263

2,673

16,031

193 6 

193 7 

69

75

3

13

1

3

65

59

3,734

2,356

193 8 

193 9 

194 0 

74

60

43

5

11

8

2

4

6

67

45

29

60,175

157,703

143,772

4,667

19,441

11,074

22,775

25,816

119,974

32,733

112,446

12,724

Banks with deposits of— 1

$100,000 or less................................................................................................................ 109 4 105 6,447

15,787

17,563

237 6,210

14,971

12,695

$100,000 to $250,000...................................................................................................... 99 3 2 94 503 313

$250,000 to $500,000...................................................................................................... 51 13 1 37 4,503 365

$500,000 to $1,000,000................................................................................................... 37 7 1 29 27,393

38,584

60,479

4,964

13,561

26,572

648 21,781

21,219

20,508

$1,000,000 to $2,000,000...............................................................................................

$2,000,000 to $5,000,000...............................................................................................

27

19

9

8

3

4

15

7

3,804

13,399

$5,000,000 to $10,000,000............................................................................................. 6 1 5 41,721

229,432

8,849 32,872

$10,000,000 to $50,000,000........................................................................................... 7 5 2 156,126 73,306

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

State

Alabam a............................................................................................................................. 2 1 1 528 428 100

Arkansas............................................................................................................................. 5 5 1,081 1,081

1,078

8

California........................................................................................................................... 1 1 1,078

Colorado............................................................................................................................. 1 1 8

Connecticut....................................................................................................................... 2 1 1 1,514

274

464 1,050

Florida................................................................................................................................. 1 1 274

G eorgia............................................................................................................................... 8 8 996 996

Illinois................................................................................................................................. 12 2 1 9 5,728

9,185

5,522

1,164 102 4,462

9,185

1,928

Indiana .. . . ............................................................................................................ 17 17

6 i 5 3,594

226 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Kansas................

K entucky...........

Louisiana............

M aryland...........

Massachusetts. .

Michigan............

Minnesota..........

Mississippi.........

Missouri.............

Montana.............

Nebraska............

New Hampshire

New Jersey........

New Y ork..........

North Carolina.

North D akota. .

Ohio.....................

Oklahoma...........

Pennsylvania. . . 

South Carolina.,

South Dakota. ..

T ennessee...........

Texas...................

Verm ont.............

Virginia...............

Washington 

West Virginia.. . 

W isconsin...........

21

3

5

2

4

2

43

4

4

1

36

17

4

29

2

6

11

1

23

12

17

2

6

1

3

27

7

20

3 

5 

1

4 

3 

2

43

2

21

5

4

29

1

5

6 

1

20

12

15

2

4

2

27

792

7,961

1,654

4,535

3,042

12,366

552

153

6.547

296

532

297 

182,648 

111,120

869

3,801

2,242

1,326

45,244

136

2,886

1,867

3,149

2,831

4,643

1.548 

1,649 

6,806

256

1,474

2,233

1,729

285

123

194

297

13,764

20,430

261

437

7,503

634

ii4

' 495'

1,548

410

3,734

536

6,487

1,654

4,535

809

6,903

267

153

6,547

173

338

55,302

85,944

29,362

211

113,582

4,746

869

3,801

1,981

889

8,379

136

2,041

1,867

3,035

2,831

4,148

1,239

6,806

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. 

Figures for each bank are rounded to thousands of dollars.

N o t e : 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 90-91.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 227

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Federal Reserve Bank of St. Louis
T a b le 162. N u m b e r AND DEPOSITS OF BANKS WHICH SUSPENDED OPERATIONS, 1940 

GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

United States— total.

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........

State

Georgia. . . 

Indiana. .. 

Kansas 

K entucky. 

M aryland.

M issouri...........

Nebraska..........

New Jersey.. .. 

North Dakota. 

Oklahoma........

Pennsylvania. . 

South Carolina. 

South D akota..

Texas..................

W isconsin...........

Number

Total

23

4

13

3

2

1

Insured banks

Total

19

Members F. R. 

System

National State

Not 

members 

F. R.

System

18

Noninsured

banks

Deposits (in thousands of dollars'

Total

5,958

132

1,804

929

1,703

1,390

287

191

256

410

159

225

158

986

285

147

2,107

42

53

265

387

Insured banks

Total

5,600

78

1,500

929

1,703

1,390

275

191

256

410

159

225

986

285

147

2,107

53

119

387

Members F. R. 

System

National

256

256

256

State

N ot 

members 

F. R.

System

5,344

78

1,500

673

1,703

1,390

275

191

410

159

285

147

2,107

53

119

387

Noninsured

banks

358

54

304

158

42

146

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.

N o t e : For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FD IC aid, see pages 90-91.

Back figure*— See the following Annual Reports: 1939, p. 212; 1938, p. 244; 1937, p. 166; 1936, p. 192; 1935, p. 224.

228 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

Table 163. N u m ber AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD

o f th e F e d e ra l D ep osit In su ran ce C o rp oratio n , 1940

Number Deposits (in thousands of dollars)1 Disbursement (in thousands of dollars)2

Total

Banks members 

F. R. System

Banks not 

members 

F. R. 

System

Total

Banks members 

F. R. System

Banks not 

members 

F. R.

System

Total

Banks members 

F. R. System

Banks not 

members 

F. R.

National State National State | National State System

24 7 6 11 138,172 10,818 119,974 7,380 69,238 3,730 62,768 2,740

Banks with deposits of— 1

$100,000 or less.................................................

$100,000 to $250,000....................................... 2 2 304 304 68 68

607

764

1,301

$250,000 to $500,000....................................... 4 4 1,404

3,704

10,702

1.404

2.405 

3,267

607

$500,000 to $1,000,000.................................... 5 2 3 1,299 1,728 964

$1,000,000 to $2,000,000................................ 7 4 1 2 6,161

3,358

1,274

6,805

4,484

2,720

2,354

412

829

$2,000,000 to $5,000,000................................ 3 1 2 10,163 2,308

$5,000,000 to $10,000,000..............................

$10,000,000 to $50,000,000............................ 3 3 111,895 111,895 59,631 59,631

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

State

California............................................................ 1 1 1,078 1,078 861 861

Iowa...................................................................... 1 1 179 179 59 59

647

1,500

9

New Jersey.......................................................... 4 1 1 2 7,4£2

96,849

125

680 4,668

85,944

2,104

4,012

125

2,250

44,358

9

500 1,103

New Y ork............................................................ 11 3 4 4 6,893 970 41,888

North D akota.................................................... 1 1

Pennsylvania...................................................... 2 1 1 29,981

352

619 29,362 20,241

186

464 19,777

Verm ont.............................................................. 1 1 352 186

Washington........................................................ 1 1 1,548 

608 1

1,548 935 935

W isconsin............................................................ 2 2 608 339 339

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 book3 of FDIC, December 31, 1940, 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.

N o t e : For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 90-91. 

Back figures— See the following Annual Reports: 1939, p. 213; 1938, p. 245.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
Table 164. N umber AND DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP OR MERGED WITH THE FINANCIAL AlD O

o f th e F e d e r a l D ep osit In su ran ce C o rp oratio n , 1940

GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

- Number Deposits (in thousands of dollars)1

Total

Banks members F. R. 

System Banks not 

members 

F. R. 

System

Total

Banks members F. R. 

System Banks not 

members 

F. R.

System National State National State

U nited States— to ta l........................................................................................................ 43 8 6 29 143,772

78

11,074 119,974 12,724

78

B anks w ith deposits o f— 1

$100,000 or less................................................................................................................. 2 2

$100,000 to $250,000....................................................................................................... 13 13 1,804

2,333

5,407

12,092

10,163

1,804

$250,000 to $500,000..................................................................................................... 7 1 6 256 2,077

$500,000 to $1,000,000................................................................................................... 7 2 5 1,299

6,161

3,358

4,108

$1,000,000 to $2,000,000................................................................................................ 8 4 1 3 1,274 4,657

$2,000,000 to $5,000,000............................................................................................... 3 1 2 6,805

$5,000,000 to $10,000,000.............................................................................................

$10,000,000 to $50,000,000........................................................................................... 3 3 111,895 111,895

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

State

California............................................................................................................................ 1 1 1,078

275

1,078

G eorgia................................................................................................................................ 2 2 275

Indiana................................................................................................................................ 2 2 191 191

1 1 179 179

Kansas................................................................................... ....................................... 1 1 256 256

K entucky............................................................................................................................ 2 2 410 410

M aryland............................................. .............................................................................. 1 1 159 159

Missouri............................................................................................................................ 2 2 225 225

New Jersey......................................................................................................................... 5 1 1 3 8,438

96,849

410

680 4,668

85,944

3,090

4,012

410

New Y ork........................................................................................................................... 11 3 4 4 6,893

North D akota................................................................................................................. 3 3

Oklahoma........................................................................................................................... 1 1 147 147

Pennsylvania..................................................................................................................... 4 1 1 2 32,088 ! 

53

619 29,362 2,107

South D akota.................................................................................................................... 1 1 53

Texas................................................................................................................................... 1 1 119 | 119

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
V erm ont............................................................................................................................. 1 ...................! ____1 1 352 i i 352

W ashington....................................................................................................................... 1 1 1 1,548 1 548 1 i

Wisconsin........................................................................................................................... 3 ...................| 3 995 J 995

1 Deposits of banks placed in receivership are as of date of suspension; deposits of banks merged with the aid of FD IC loans are as of date of examination prior to loan. 

Figures for each bank are rounded to thousands of dollars.

N o te : For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, see pages 90-91. 

Back figures— See the following Annual Reports: 1939, p. 214; 1938, p. 246,

t o

COSUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
Table 165. ACCOUNTS AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL AlD

o f th e F e d e r a l D ep osit In su ran ce C o rp oratio n , 1935-1940

Name and location

Total, 1935-1940 (129 banks)............................

Calendar year

1935 ( 1 bank)...................................................

1936 (27 banks).................................................

1937 (25 banks).................................................

1938 (24 banks).................................................

1939 (28 banks).................................................

1940 (24 banks).................................................

1940

Integrity Trust Company

Philadelphia, Pennsylvania . . .

Woodcliff Trust Company

North Bergen, New Jersey.............

(P. O. West New York, N . J.)

Bank of Brocton

Brocton, New Y o rk .......................................

The National Bank of Westfield

Westfield, New Y o rk .....................................

Hartford Savings Bank and Trust Company 

White River Junction, Vermont.................

The Swedesboro National Bank

Swedesboro, New Jersey............................

The First National Bank of Wenatchee 

Wenatchee, Washington.............................

Baldwinsville State Bank

Bald wins ville, New Y ork...............

First Trust & Deposit Company

Syracuse, New Y ork......................................

Bank of Reeder

Reeder, North Dakota. . . .

Class

of

bank1

Number

of

accounts2

T otal

Disbursement3

Absorbing bank

deposits2

Date Amount

812,863 $352,719,582 $148,958,701

12,324

46,258

56,300

4,356,778

16,698,882

18,294,152

2,864,893

6,769,840

7,124,339

159,682

*302,573

235,726

50,054,822

125,142,006

138,172,942

21,387,133

41,573,579

69,238,917

B 52,643 29,362,109 January 13, 1940 19,777,123 The First National Bank of Philadelphia

Philadelphia, Pennsylvania

C 5,572 1,492,046 February 5, 1940 586,585 Commonwealth-Merchants Trust Company

Union City, N . J. (North Bergen branch)

0 1,202 444,062 February 26, 1940 82,419

Union Trust Company of Jamestown

Jamestown, New York (Brocton branch)

A 3,496 1,611,119 February 26, 1940 354,919

Union Trust Company of Jamestown

Jamestown, New York (Westfield branch)

C 2,370 352,151 March 11, 1940 186,148

Inter-State Trust Company

White River Junction, Vermont

A 2,389 680,289 March 18, 1940 499,676

Swedesboro Trust Company

Swedesboro, New Jersey

A 4,181 1,543,475 March 27, 1940 935,105

Seattle-First National Bank

Seattle, Washington (Weiatchee branch)

C 3,849 807,178 April 8, 1940 411,011

First Trust & Deposit Company

Syracuse, N . Y . (Baldwinsville branch)

B 67,228 48,255,718 April 8, 1940 23,164,104

First Trust & Deposit Company

Syracuse, New York

C 550 124,829 1 April 18, 1940 8,740 !

The First National Bank of Hettinger

i Hettinger, North Dakota

232 FEDERAL DEPOSIT INSURANCE CORPORATION

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The First National Bank of Harrison

Harrison, New Y ork............................................... A 4,502 1,924,299 April 22, 1940 203,137

The Rye National Bank

Rye, New York (Harrison branch)

The Rye National Bank

Rye, New Y ork....................................................... A 9,183 3,357,506 April 22, 1940 412,306

The Rye National Bank 

Rye, New York

The First National Bank of Bally

Bally, Pennsylvania............................................... A 2,256 619,285 April 29, 1940 463,926

The National Bank of Boyertown 

Boyer town, Pennsylvania

The Southampton Bank

Southampton, New Y ork...................................... B 2,219 1,273,898 June 10, 1940 829,207

The First National Bank of Southampton 

Southampton, New York

First State Bank of Scotch Plains

Scotch Plains, New Jersey.................................... C 5,291 611,908 June 24, 1940 59,615

The Westfield Trust Company

Westfield, N. J. (Scotch Plains branch)

The Westfield Trust Company

Westfield, New Jersey........................................... B 9,284 4,667,574 June 24, 1940 1,103,000

The Westfield Trust Company 

Westfield, New Jersey

Waushara County Bank

Plainfield, Wisconsin.............................................. C 624 267,000 June 26, 1940 96,461

Union State Bank

Wautoma, Wisconsin (Plainfield branch)

Chaseburg State Bank

Chaseburg, Wisconsin............................................ C 743 340,900 July 15, 1940 242,700

Westby-Coon Valley State Bank

Coon Valley, Wisconsin (Chaseburg branch)

Mount Pleasant Bank & Trust Co.

Pleasantville, New Y ork ....................................... B 5,897 2,136,598 July 22, 1940 1,204,584

The County Trust Company

White Plains, N. Y . (Pleasantville branch)

Bank of Williamsville

Williamsville, New Y ork ...................................... C 4,396 1,775,214 July 29, 1940 714,179

The Marine Trust Company of Buffalo 

Buffalo, New York (Williamsville branch)

M t. Union State Bank

M t. Union, Iow a..................................................... C 450 178,627 August 26, 1940 59,343

Iowa State Bank 

Morning Sun, Iowa

First Citizens Bank & Trust Company of Utica 

Utica, New Y ork..................................................... B 41,038 34,277,442 Sept. 14, 1940 16,690,481

First Bank & Trust Company of Utica 

Utica, New York

The State Exchange Bank

Holley, New Y ork................................................... C 3,195 986,391 N ov. 25, 1940 292,995

The Marine Trust Company of Buffalo 

Buffalo, New York

The American National Bank of Santa Monica 

Santa Monica, California...................................... A 3,168 1,078,324 December 5,1940 861,153

California Bank

Los Angeles, Calif. (Santa Monica branch)

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.

2 Number of accounts and total deposits are as of date of examination prior to loan.

3 Principal of loans and purchase price of assets as shown by books of FDIC, December 31, 1940. Includes under date of original disbursement all disbursements made in 

subsequent years. Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.

4 Revised according to subsequent information.

N o t e : For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 90-91.

Back figures— See the following Annual Reports: 1939, p. 216; 1938, p. 248; 1937, p. 180; 1936, p. 202.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 233

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Federal Reserve Bank of St. Louis
T a b l e 1 6 6 . A s s e t s P u r c h a s e d b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t i o n t o F a c i l i t a t e C o m p l e t io n o f L iq u i d a t i o n o f

I n s u r e d B a n k s in R e c e i v e r s h i p , 1939-1940

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1940

Case Name and location

Class

of

bank1

Date of

Amount of deposits2 Assets purchased3

number suspension

Total Insured Date Amount

T otal, 1939-1940 (11 b a n k s)........................................................... $7,779,079

2,563,792

5,215,287

$6,664,134

2,351,889

4,312,245

$500,718

134,307

366,411

C alendar year 

1939 (5 banks) ................................................

1940 (6 b a n k s ).........................................

1940

109 Perth Amboy Trust Company

Perth Amboy, New Jersey.......... .... B October 2, 1937 1,343,347 1,183,384 January 20, 1940 255,000

70 The Union Bank

Uhrichsville, O hio.................................. .... C October 27, 1936 2,075,331 1,419,018 January 31, 1940 725

24 The First National Bank of Pender

Pender, N ebraska...................................... A June 29, 1935 199,662 170,478 February 19, 1940 775

136 The First National Bank of Purdon

Purdon, Texas............................................... A February 12, 1938 

June 30, 1939 

December 27, 1939

36,062

936,507

624,378

34,981

894,788

609,596

April 11, 1940 

June 26, 1940 

December 10, 1940

3,469

100,123

6,319

199 Pleasantville Trust Company

Pleasantville, New Jersey................................................................ c

207 The Tuckerton Bank

Tuckerton, New Jersey.................................................................. c

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.

2 Amount of deposits and amount of insured deposits will not agree with amounts shown in previous reports due to deposits subsequently discovered or reclassified.

3 Amount of assets purchased includes under date of original disbursement all purchases made in subsequent years.

Back data— See the Annual Report for 1939, p. 218.

234 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 167. L ist OF INSURED BANKS PLACED IN RECEIVERSHIP, 1940

208

209

210

211

212

213

214

215

216

217

218

219

220 

221 

222

223

224

225

226

Name and location

Guaranty Bond State Bank, North Zulch, Texas.......................

The Citizens State Bank of Niangua, Niangua, Missouri........

Bankers Trust Company, Atlantic City, New Jersey................

Eugene State Bank, Eugene, Missouri..........................................

Farmers Bank, Dry Ridge, Kentucky...........................................

Blairsville Savings and Trust Company, Blairsville, Pa............

Ashley State Bank, Ashley, North Dakota..................................

First State Bank, Wishek, North Dakota....................................

Bank of Moreland, Moreland, Kentucky.....................................

Mackey State Bank, Mackey, Indiana..........................................

First State Bank of Stonewall, Stonewall, Oklahoma...............

The Lucerne State Bank, Lucerne, Indiana.................................

Kane Trust and Savings Company, Kane, Pennsylvania.........

The Claxton State Bank, Claxton, Georgia.................................

Badger State Bank, Badger, South Dakota.................................

The Bank of Leslie, Leslie, Georgia...............................................

Savings Bank of Nanticoke, Nanticoke, Maryland....................

Bank of Eagle, Eagle, W isconsin....................................................

The, First National Bank of Burlingame, Burlingame, Kansas

of

bank1

C

c

c

c

c

c

c

c

c

c

c

c

c

c

c

c

c

c

A

Year of 

organization

1911

1907 

1917 

1927 

1892

1923

1901 

1898 

1909 

1920

1908

1912

1902 

1935

1907

1905

1908 

1901 

1889

Date of 

suspension

January 4, 1940 

January 12, 1940 

February 29, 1940 

March 13, 1940 

March 23, 1940

April 4, 1940 

April 18, 1940 

April 18, 1940 

April 19, 1940 

May 9, 1940

June 13, 1940 

June 22, 1940 

July 2, 1940 

July 20, 1940 

August 3, 1940

September 18, 1940 

October 4, 1940 

October 25, 1940 

November 19, 1940

Date of first payment 

to depositors 

by FDIC

January 17, 1940 

January 23, 1940 

March 11, 1940 

March 25, 1940 

April 3, 1940

April 17, 1940 

April 30, 1940 

May 1, 1940 

May 8, 1940 

May 23, 1940

July 5, 1940 

July 3, 1940 

July 15, 1940 

August 6, 1940 

August 16, 1940

October 3, 1940 

October 23, 1940 

November 6, 1940 

December 2, 1940

Receiver

State banking authority 

State banking authority 

State banking authority 

State banking authority

State banking authority 

FDIC 

FDIC

State banking authority 

State banking authority

State banking authority 

State banking authority 

State banking authority 

State banking authority 

State banking authority

State banking authority 

State banking authority 

State banking authority 

FDIC

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.

Back data— See the following Annual Reports: 1939, p. 219; 1938, p. 250; 1937, p. 170; 1936, p. 193; 1935, p. 225.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 235

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Federal Reserve Bank of St. Louis
Lmbe

208

209

210

211

212

213

214

215

216

217

218

219

220

221

222

223

224

225

226

Table 168. A sse ts OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1940

AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

t o

CO

Name and location

T otal, 1934-1940 (226 b a n k s).......................................................

C alendar year

1934 ( 9 b a n k s)...............................................................................

1935 (24 b a n k s)...............................................................................

1936 (42 b a n k s)...............................................................................

1937 (50 b a n k s)...............................................................................

1938 (50 b a n k s )...............................................................................

1939 (32 b a n k s)...............................................................................

1940 (19 b a n k s )...............................................................................

1940

Guaranty Bond State Bank, North Zulch, Texas.....................

The Citizens State Bank of Niangua, Niangua, Missouri. .. .

Bankers Trust Company, Atlantic City, New Jersey..............

Eugene State Bank, Eugene, M issouri.........................................

Farmers Bank, Dry Ridge, Kentucky..........................................

Blairsville Savings and Trust Company, Blairsville, Pa..........

Ashley State Bank, Ashley, North D akota................................

First State Bank, Wishek, North D akota...................................

Bank of Moreland, Moreland, Kentucky....................................

Mackey State Bank, Mackey, Indiana........................................

First State Bank of Stonewall, Stonewall, Oklahoma..............

The Lucerne State Bank, Lucerne, Indiana...............................

Kane Trust and Savings Company, Kane, Pennsylvania. . . .

The Claxton State Bank, Claxton, Georgia................................

Badger State Bank, Badger, South D akota................................

The Bank of Leslie, Leslie, Georgia..............................................

Savings Bank of Nanticoke, Nanticoke, Maryland..................

Bank of Eagle, Eagle, W isconsin...................................................

The First National Bank of Burlingame, Burlingame, Kansas

Total

assets

Cash and 

due from 

banks

United

States

Government

securities

Other

securities

Loans, discounts, and 

overdrafts

Banking 

house, 

furniture 

and fixtures

Other real 

estate

Other

assets

413,048,665 $12,550,666 $5,454,425 $13,637,751 $57,462,549 $4,438,827 $11,717,539 $7,786,908

2,661,327 185,056 603,519 273,638 1,329,865 79,365 120,319 69,565

12,323,948 1,974,181 698,440 510,479 6,842,116 459,055 242,274 1,597,403

12,974,788 2,194,712 902,215 1,955,104 6,454,624 459,700 734,874 273,559

19,283,376 2,238,648 1,293,683 2,307,696 11,107,699 486,995 837,966 1,010,689

13,919,907 1,610,297 451,570 2,215,638 6,574,061 412,911 2,125,022 530,408

43,925,766 3,329,557 1,052,424 4,855,519 21,839,422 1,845,901 7,221,558 3,781,385

7,959,553 1,018,215 452,574 1,519,677 3,314,762 694,900 435,526 523,899

169,461 47,894 43,550 66,367 1,623 8,325 1,702

142,671 43,056 850 822 92,731 2,900 2,125 187

2,130,869 99,578 728,989 613,126 269,066 16,402 403,708

127,588 18,892 3,300 5,000 99,595 200 601

363,322 57,936 39,028 18,276 223,001 15,650 6,752 2,679

1,820,764 118,789 128,883 401,946 678,294 306,419 171,023 15,410

247,397 20,745 15,000 5,375 142,146 9,000 51,835 3,296

136,490 22,558 1,578 74,395 5,700 30,207 2,052

141,701 24,939 25 2,170 111,254 2,100

4,255

1,213

39,960 5,413 1,500 24,012 4,000 780

143,105 33,986 4,343 104,383 2 3 388

195,387 20,481 1,500 143,621 1,150 18,282 10,353

915,431 133,674 145,644 258,801 252,758 45,500 65,767 13,287

222,582 18,879 272 145,965 3,151 676 53,639

73,832 27,037 1,995 33,662 4,500 1,500 5,138

141,322 18,114 850 24,000 84,599 5,875 5,000 2,884

190,114 33,380 23,900 7,500 117,303 1,614 3,400 3,017

456,851 171,508 43,594 3,500 189,095 11,200 34,732 3,222

300,706 101,356 51,500 8,560 118,455 5,250 15,242 343

: 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 

ition of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, 

90-91.

figures— See the following Annual Reports: 1939, p. 220; 1938, p. 252; 1937, p. 172; 1936, p. 194; 1935, p. 226.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 169. L ia b ilitie s o f Insured B anks P la ce d in R eceiversh ip , 1934-1940

AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

Case

number

208

209

210

211

212

213

214

215

216

217

218

219

220

221

222

223

224

225

226

Name and location

T otal, 1934-1940 (226 b a n k s)........................................................

Calendar year

1934 ( 9 b a n k s)................................................................................

1935 (24 b a n k s)................................................................................

1936 (42 b a n k s)..........................................................................

1937 (50 b a n k s)................................................................................

1938 (50 b a n k s)................................................................................

1939 (32 b a n k s)................................................................................

1940 (19 b a n k s).................................................................................

1940

Guaranty Bond State Bank, North Zulch, Texas.......................

The Citizens State Bank of Niangua, Niangua, Missouri........

Bankers Trust Company, Atlantic City, New Jersey................

Eugene State Bank, Eugene, Missouri..........................................

Farmers Bank, Dry Ridge, Kentucky...........................................

Blairsville Savings and Trust Company, Blairsville, Pa............

Ashley State Bank, Ashley, North Dakota..................................

First State Bank, Wishek, North Dakota....................................

Bank of Moreland, Moreland, Kentucky.....................................

Mackey State Bank, M ackey, Indiana..........................................

First State Bank of Stonewall, Stonewall, Oklahoma................

The Lucerne State Bank, Lucerne, Indiana.................................

Kane Trust and Savings Company, Kane, Pennsylvania.........

The Claxton State Bank, Claxton, Georgia.................................

Badger State Bank, Badger, South Dakota.................................

The Bank of Leslie, Leslie, Georgia................................................

Savings Bank of Nanticoke, Nanticoke, Maryland....................

Bank of Eagle, Eagle, W isconsin....................................................

The First National Bank of Burlingame, Burlingame, Kansas

Total

liabilities

$113,048,665

2,661,327

12,323,948

12,974,788

19,283,376

13,919,907

43,925,766

7,959,553

169,461

142,671

2,130,869

127,588

363.322

1,820,764

247,397

136,490

141,701

39,960

143,105

195,387

915,431

222,582

73,832

141.322 

190,114 

456,851 

300,706

Total

deposits

$84,688,359

1,951,992

8,700,485

11,039,098

14,715,286

10,124,255

32,557,805

5,599,438

119,291

119,106

986,204

106,039

285,680

1,389,833

171,949

113,194

123,872

25,017

146,703

166,217

717,389

162,303

52,584

112,758

158,849

386,712

255,738

Other

liabilities,

secured

$8,086,155

77,630

1,826,850

46,618

1,004,807

1,211,407

3,463,506

455,337

22

398,220

38

2

' 495

(2)

79

31,475

4

25,000

Other

liabilities,

unsecured

$1,722,109

27,333

285,036

47,077

127,951

1,947

1,232,314

451

R . F. C.

capital

$5,581,896

90,000

223.000

788.000 

755,250

1,052,900

2,249,996

422,750

25.000

15.000

9,750

25.000

250,000

50.000

10.000

7,500

5,500

Private

capital

stock

$9,829,999

432,100

950,000

1,069,350

2,498,815

1,059,200

2,775,001

1,045,533

25.000

10.000

463,783

250

25.000

75.000

25.000

15.000

15.000

25.000

10.000

17,500

150,000

20,000

15.000

25.000

33.000

40.000

56.000

Other

capital

accounts1

1 Includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books. Minus (-) indicates net operating deficit. 

8 Less than $0.50. } than $0.50 

N o t e : See N o t e to Table 168.

Back figures— See the following Annual Reports:

$3,140,147

82,272

338,577

-15,355

181,267

470,198

1,647,144

436,044

160

-1,505

282,593

11,549

27,604

105,813

442

-2,199

2,829

-10,057

-13,598

4,157

47,957

8,708

744

-21,436

-1,778

30,135

-36,074

1939, p. 222; 1938, p. 254; 1937, p. 174; 1936, p. 196; 1935, p. 227.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 237

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 170. D e p o s it s OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1940

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1940

Case

number Name and location

Total, 1934-1940 (226 banks).......................................................

Calendar year

1934 ( 9 banks)...............................................................................

1935 (24 banks)...............................................................................

1936 (42 banks)...............................................................................

1937 (50 banks)...............................................................................

1938 (50 banks)...............................................................................

1939 (32 banks)...............................................................................

1940 (19 banks)...............................................................................

1940

208 Guaranty Bond State Bank, North Zulch, Texas.....................

209 The Citizens State Bank of Niangua, Niangua, Missouri. . ..

210 Bankers Trust Company, Atlantic City, New Jersey..............

211 Eugene State Bank, Eugene, M issouri.........................................

212 Farmers Bank, Dry Ridge, Kentucky..........................................

213 Blairsville Savings and Trust Company, Blairsville, Pa..........

214 Ashley State Bank, Ashley, North D akota................................

215 First State Bank, Wishek, North D akota...................................

216 Bank of Moreland, Moreland, K entucky................... ................

217 Mackey State Bank, Mackey, Indiana........................................

218 First State Bank of Stonewall, Stonewall, Oklahoma..............

219 The Lucerne State Bank, Lucerne, Indiana...............................

220 Kane Trust and Savings Company, Kane, Pennsylvania........

221 The Claxton State Bank, Claxton, Georgia.................................

222 Badger State Bank, Badger, South D akota................................

223 The Bank of Leslie, Leslie, Georgia...............................................

224 Savings Bank of Nanticoke, Nanticoke, Maryland...................

225 Bank of Eagle, Eagle, W isconsin...................................................

226 The First National Bank of Burlingame, Burlingame, Kansas

Total1

$85,905,328

1,966,873

9,087,223

11,235,782

14,953,677

10,287,090

32,717,821

5,656,862

119,291

122,930

986,204

107,136

285,680

1,389,833

171,949

113,194

143,690

25,693

162,822

165,893

717,389

177,755

52,584

113,421

158,947

386,712

255,739

Insured2

$67,407,604

946,477

6,049,058

8,056,946

12,038,547

9,083,042

26,305,625

4,927,909

85,422

107,182

937,647

89,537

244,502

1,159,123

142,121

104,309

123,913

24,182

148,419

143,639

599,186

144,133

50,605

96,842

143,513

357,240

226,394

Secured and 

preferred3

$3,970,050

755,533

471,465

657,970

1,156,099

310,163

446,169

172,651

3,500

1,483

56,218

18,258

1,016

2,631

5,272

56,539

11,002

902

1,234

4,096

12,500

Subject to 

offset

$4,904,885

90,526

558,656

619,078

1,067,525

495,054

1,738,165

335,881

24,676

12,248

48,544

17,599

27,056

56,062

11,570

7,869

7,676

999

9,891

10,401

20,403

22,292

1,077

16,579

11,132

14,012

15,795

Uninsured, unsecured, not preferred, and not subject to offset

In excess of 

insurance 

maximum

$8,491,455

102,785

1,998,500

1,048,186

645,339

253,090

4,223,134

220,421

9,193

12,639

118,430

9,470

512

1,240

11,853

41,261

328

3,068

11,364

1,050

Other4

$1,131,334

71,552

9,544

853,602

46,167

145,741

4,728

1 Amount of deposits shown in Table 170 does not agree with amount shown in Table 169 due to inclusion in Table 170 of deposits subsequently discovered or reclassified.

2 Includes all deposits paid or to be paid by FD IC .

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.

4 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.

N o t e : See N o t e to Table 168.

Bach figures— See the following Annual Reports: 1939, p. 224; 1938, p. 256; 1937, p. 176; 1936, p. 198; 1935, p. 228.

238 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 171. PAYMENTS TO DEPOSITORS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1940

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1940

Case

number Name and location

T otal, 1934-1940 (226 b a n k s)......................................................

C alendar year

1934 ( 9 b a n k s )......................................................................

1935 (24 b a n k s )..........................................................................

1936 (42 b a n k s)......................................................................

1937 (50 b a n k s )............................................................................

1938 (50 b a n k s )............................................................................

1939 (32 b a n k s ).................................................

1940 (19 b a n k s )............................................................................

1940

208 Guaranty Bond State Bank, North Zulch, Texas.....................

209 The Citizens State Bank of Niangua, Niangua, Missouri. . . .

210 Bankers Trust Company, Atlantic City, New Jersey...............

211 Eugene State Bank, Eugene, Missouri. .......................................

212 Farmers Bank, Dry Ridge, Kentucky..........................................

213 Blairsville Savings and Trust Company, Blairsville, Pa..........

214 Ashley State Bank, Ashley, North Dakota.................................

215 First State Bank, Wishek, North Dakota...................................

216 Bank of Moreland, Moreland, K entucky....................................

217 Mackey State Bank, Mackey, Indiana........................................

218 First State Bank of Stonewall, Stonewall, Oklahoma...............

219 The Lucerne State Bank, Lucerne, Indiana...............................

220 Kane Trust and Savings Company, Kane, Pennsylvania........

221 The Claxton State Bank, Claxton, Georgia................................

222 Badger State Bank, Badger, South Dakota...............................

223 The Bank of Leslie, Leslie, Georgia..............................................

224 Savings Bank of Nanticoke, Nanticoke, Maryland...................

225 Bank of Eagle, Eagle, W isconsin...................................................

226 The First National Bank of Burlingame, Burlingame, Kansas

Number of depositors

Total

320,516

15,734

32,229

43,224

74,163

44,275

90,202

20,689

702

825

4,236

616

1,068

2,691

457

434

386

189

1,204

774

1,889

1,289

391

746

878

777

1,137

Eligible for insurance protection

Paid by 

FDIC

241,489

11,251

23,404

30,913

56,745

31,733

72,149

15,294

516

603

3,823

441

764

2,264

400

360

211

153

659

492

1,551

830

260

374

515

593

485

Fully paid 

by other 

methods2

32,305

933

2,845

4,617

7,706

7,366

6,095

2,743

109

194

177

159

271

163

37

50

147

26

246

199

150

256

58

75

212

90

124

Unpaid

22,226

3,309

5,012

47

196

405

10,605

2,652

77

28

238

16

33

264

20

24

28

10

299

83

188

203

73

297

151

94

528

Not eligible 

for 

insurance 

protection3

24,496

241

968

7,647

9,516

4,771

1,353

Insured deposits1

Total

$67,407,604

946,477

6,049,058

8,056,946

12,038,547

9,083,042

26,305,625

4,927,909

85,422

107,182

937,647

89,537

244,502

1,159,123

142,121

104,309

123,913

24,182

148,419

143,639

599,186

144,133

50,605

96,842

143,513

357,240

226,394

Paid

$67,047,091

938,898

6,019,049

8,050,338

12,028,244

9,063,251

26,125,571

4,821,740

85,273

107,097

933,627

89,451

244,446

1,120,839

141,175

103,913

118,100

23,334

146,638

142,723

583,502

126,988

49,739

96,642

141,666

354,633

211,954

Unpaid

$360,513

7,579

30,009

6,608

10,303

19,791

180,054

106,169

149

85 

4,020

86

56

38,284

946

396

5,813

848

1,781

916

15,684

17,145

866

200

1,847

2,607

14,440

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

» 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. ^

N o t e : See N o t e to Table 168.

Back figures—See the following Annual Reports: 1939, p. 226; 1938, p. 258; 1937, p. 178; 1936, p. 200; 1935, p. 229.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 239

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Federal Reserve Bank of St. Louis
SUPERVISORY ACTIONS BY THE CORPORATION

Table 172. 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, 1940

Total 1935 193G 1937 1938 1939

AD M ISSIO N TO IN SU R A N C E

T o ta l nu m ber of applications acted u p o n .......................................................................................

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 bu t 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.........................................................................................................................

607

471

124

1

8

29

18

86

21

22

1

7

72

26

56

24

6

6

2

1

112

42

9

4

1

26

10

6

75

45

15

3

29

6

6

1

1

11

165

114

24

1

3

5

3

28

2

3 

’ i 

41

16

133

111

38

14

82

67

14

12

1

’ 2

85

73

19

10

5

10

2

1

10

67

61

14 

‘ *2'

2

14

3

5

240 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
A pplication s disapproved— classified by status of bank, D ecem ber 31, 1940........

Plans for organization or reorganization abandoned............................................................

Banks discontinued operations.......................................................................................... .. . . .

Banks opened or continued to operate without insurance..................................... ............

Banks approved for insurance in later years.....................................................................

ESTABLISH M ENT OF BRANCHES

T otal n u m ber o f application s acted u p o n ..........................................................................

A pplications approved1.................................................................................................................

To establish additional banking offices:

Establishment of de novo branches6.....................................................................................

Conversion of head offices into branches after relocation of banks..............................

T o place 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.......................

A pplications approved bu t approval later rescinded4.....................................................

To establish additional banking offices:

Establishment of de novo branches......................................................................................

Conversion of head offices into branches after relocation of banks...............................

To replace banks by branches:

Conversion of absorbed banks into branches.....................................................................

Replacement of closed banks..................................................................................................

A pplications disap p rov ed ............................................................................................................

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

A pplications approved t1

Banks.................................................................................................................................................

Branches............................................................: .............................................................................

A pplications approved b u t approval later rescinded— branches..................................

A pplication s disapproved— banks.............................................................................................

112 29 41 14 12 10 6

641 5 14 9 6 8 2

57 2 5 1 1

‘31 12 10 2 5 1 4

25 10 12 2 1

384 15 93 89 82 62 43

337 9 80 82 71 54 41

130 7 37 33 16 15 22

11 2 2 1 3 2 1

105 22 27 28 18 10

32 4 7 10 7 4

5 4 1

30 7 8 8 4 3

13 3 3 6 1

8 3 2 3

3 1 1 1

19 5 5 6 3

9 3 3 1 2

2 1 1

6 1 1 4

2 1 1

28 6 8 2 5 5 2

24 5 7 1 4 5 2

1 1

1 1

2 1 1

72 4 9 15 17 9 18

28 3 6 3 5 7 4

2 2

3 1 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 

2 applications, not tabulated, from banks which wished to retain their insured status when they reopened after starting voluntary liquidation.

3 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 members, and approval was rescinded in order to close each case.

5 Totals for the 6-year period are adjusted to eliminate banks disapproved more than once.

6 Includes conversions or replacements of 4 cooperative banks, 1 trust company, and 3 exchanges not included in FDIC tabulations of noninsured banks.

SUPERVISORY ACTIONS BY THE CORPORATION 241

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Table 173. ACTIONS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION UPON APPLICATIONS REGARDING

C a p ita l and O th e r F in a n cia l A djustm ents, A u gu st 23, 1935, to D ecem ber 31, 1940

Total

Number of applications in—

1935 1936 1937 1938 1939 1940

TO APPROVE CAPITAL ADJU STM EN TS1

A p plication s approved in fu ll 

To retire:

Preferred capital obligations held by R F C ..................................................... 6,644

136

85

4

493

12

1,830

15

1,159

23

1,267

41

1,810

41

Common stock........................................................................................................ 8 2 5 1

To reduce or cancel:

67 1 6 15 23 14 8

Preferred capital not held by R FC 2 ............................................................... 43 2 9 9 12 10 1

Common stock............. ................................................................................... 231 34 48 38 50 28

4

33

To sell additional capital:3

Preferred capital obligations to R F C ............................................................... 11 3 2 2

Preferred capital to others than R F C .............................................................. 37 4 8 3

11

12

11

8 2

Common stock .................................................................................................... 57 8 12 9 6

To make miscellaneous capital adjustments:

To convert preferred capital not held by RFC into common stock........ 20 1 3 7 5 4

T o pay cash premium to R F C .......................................................................... 2 2

To pay cash premiums on preferred capital4................................................. 9 3 3 3

To pay cash premiums to common stockholders.......................................... 1 1

To reduce surplus in connection with capital reductions........................... 7 1 5 1

To revise common capital structure................................................................. 1 1

To transfer reserves to valuation allowance for loans................................. 1 1

A pplication s approved in part

T o retire:

Preferred capital obligations held by R F C .....................................................

Preferred capital not held by R F C ..................................................................

581

4

8 39 96

1

78 188

2

172

1

A pplications disapproved or rescinded5

To retire:

Preferred capital obligations held by R F C .....................................................

Preferred capital not held by R F C ..................................................................

759

27

51

2

194

6

255

9

104

7

96

3

59

Common stock .................................................................................................... 2 1 1

To reduce or cancel:

Preferred capital obligations held by R FC2................................................... 15 2 8 3 2

Preferred capital not held by RFC2...............i ................................................ 5 1 2 2

Common stock........................................................................................................ 48 8 15 5 10 7 3

242 FEDERAL DEPOSIT INSURANCE CORPORATION

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T o 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 RFC into common stock

T o pay cash premiums on preferred capital4.......................................

To reduce surplus in connection with capital reductions.................

TO APPRO VE OTH ER FIN AN C IAL ADJUSTMENTS*

Applications approved

To repay or release restricted deposits:

To repay waived deposits or certificates of beneficial interest........

T o release restricted or subordinated deposits....................................

T o release directors’ guaranty.....................................................................

To release stockholders’ guaranty..............................................................

To repay stockholders’ contributions........................................................

T o assume liabilities or purchase assets of noninsured institutions:

Of noninsured banks..................................................................................

Of other financial institutions..................................................................

Of closed banks...........................................................................................

Applications disapproved

T o repay or release restricted deposits:

To repay waived deposits or certificates of beneficial interest........

To release restricted or subordinated deposits....................................

T o release directors’ guaranty.....................................................................

To repay stockholders’ contributions.........................................................

To assume liabilities or purchase assets of noninsured banks.............

1 2 2 2

1 4 3 1 1

1 5 3 2 1

2 2 1 1

1 1

1

67 129 15 13 7 5

20 21 4 1

4 14 13 8 4 5

1

2 7 4 3 3 4

2 18 12 7 6 4

2 2 2

1 2 2

1 7 2 1

1 2 2 1

1 7 2

1 1 2

1

_1 Banks not members of the Federal Reserve System. The number of banks submitting these applications was 3,063, of which 3,059 applied for retirement or reduction of 

apital. 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.

* Includes applications first approved and later rescinded in full, not included as approved.

8 Banks not members of the Federal Reserve System except in the case of applications to assume liabilities or purchase assets from noninsured institutions, which are for all 

insured banks. The number of banks submitting these applications was 348. Some banks applied for approval of more than one type of adjustment, or made more than one 

application during the period.

SUPERVISORY ACTIONS BY THE CORPORATION 243

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Table 174. A m ounts INVOLVED IN ACTIONS BY THE FEDERAL DEPOSIT InSTjivaNCE CORPORATION UPON APPLICATIONS REGARDING

C a p ita l and O th e r F in a n cia l A djustm ents, A u g u st 23, 1935, t o D ecem ber 31, 1940

Total

Amounts involved in applications in—

1935 1936 1937 1938 1939 1940

TO APPROVE CAPITAL ADJU STM EN TS1

A p plication s approved in fu ll

To retire:

$70,834,787

3,021,051

537,270

10,008,800

5,577,707

21,022,130

2,929,845

1,051,405

2,509,650

1,324,400

15.000 

219,001

50.000 

128,406

(5)

84,692

(«)

(6)

18,478,683

777,094

50,625

1,086,900

642,900

2,483,100

$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

$14,781,670

343,370

454,070

1,277,375

328,550

1,968,100

$9,495,129

578,600

6,600

1,849,670

258,100

2,491,500

68,000

373,800

819.000

905.000

$10,753,471

545,377

$15,168,393

924,504

To reduce or cancel:

Preferred capital obligations held by R FC 2...................................................

To sell additional capital:3

ProfGrrGd capital obligations to RiFC ...............

1.400.000

1.607.000 

3,202,700

760.000

235.000 

323,700

15,000

1,050,860

603,502

4,902,850

477.500 

185,450

166.500

169,400

1,300,550

1,500

3,851,850

To make miscellaneous capital adjustments:

To convert preferred capital not held by RFC into common stock........

T1 r\ noxr pooVi r\rPTY1111TH fn H.Flj - . ......

45,000

323,200

165,000

85.000 

200,000

15.000

r p rtooVt n r o m in m c s ayi n r p f p r f p o r ^ l f p | 4 150,956 54,295 13,750

rto-ir cV> n r o m i n m a tn p n m r n n n c t n p l r l inln at*q 50.000

65.000

(5)

84,692

( 6)

(6)

1,906,902

15.000

To reduce surplus in connection with capital reductions...........................

To rGvisG common capital structure .......................

31,406 32,000

HPrv ft*Q n ofn i« r o a o r T ro o t h v f l l i m f i A n n l l n w j i n p p f n r In^iTict

A pplication s approved in part

To retire:

A p plication s disapproved or rescin d ed 7

To retire:

(6)

(6)

2,683,500

26,419

50,000

380.000

690.000

(6)

( 6)

5,213,965

163,700

(6)

( 6)

3,657,624

288,500

(6)

(6)

1,823,511

159,243

625

312,500

(6)

(6)

3,193,181

124,232

To reduce or cancel:

Preferred capital obligations held by RFC2...................................................

T*i-r>f T\lf o l Vl o l fl K v T? IT' 2

415.000 

95,000

858.000

220,000

167,900

355,000

139,400

182,500 325,000 72,600

244 FEDERAL DEPOSIT INSURANCE CORPORATION

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T o sell additional capital:8

Preferred capital obligations to R F C ....................................................

Preferred capital to others than R F C ...................................................

Common stock.............................................................................................

To make miscellaneous capital adjustments:

T o convert preferred capital not held by RFC into common stock

T o pay cash premiums on preferred capital4.......................................

T o reduce surplus in connection with capital reductions.................

TO APPROVE OTH ER FIN AN C IAL ADJUSTM ENTS1

Applications approved

T o repay or release restricted deposits:

To repay waived deposits or certificates of beneficial interest........

To release restricted or subordinated deposits....................................

T o release directors’ guaranty.....................................................................

To release stockholders’ guaranty.............................................................

To repay stockholders’ contributions.........................................................

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........................................................

225.000

285.000 

289,500

261,800

63,319

2,000

7,417,923

4,039,127

2,305,908

15,000

408,378

1,091,039

236,757

373,416

185,000

20,000

25.000

10.000

170,000

15,819

2,000

1,137,352

1,534,705

150,500

37,500

171,388

159,655

41,500

165,000

97,000

20,000

3,081,326

2,389,422

828,984

127,972

80,928

50.000 

119,216

15.000

30,000

130,000

20,000

1,655,950

90,000

482,125

94,328

18,802

212,700

20,000

75.000

45.000

40.000

1,075,300

444,200

58,500

503,600

8,300

100,000

25,000

51,800

47,500

269,507

25,000

105,800

11,950

335,123 

’ 150,000'

1 Banks not members of the Federal Reserve System.

2 To reduce par but not retirable value.

? ^eludes cas.es in which capital issues were to be sold for more than their par value and premiums transferred to surplus or undivided profits accounts.

4 1 hese premiums represent retirable value of preferred stock not carried on books.

5 £ he .number of shares was increased without changing the total amount of capital outstanding in order to facilitate a merger.

* Portions approved are included with applications approved in full; portions disapproved with applications disapproved or rescinded.

7 Includes applications first approved and later rescinded in full, not included as approved.

25,000

12,500

198,488

’ 294,299 ’ 

15,000 

78,128

SUPERVISORY ACTIONS BY THE CORPORATION

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Table 175. ACTION TO TERMINATE INSURED STATUS OF BANKS FOR ENGAGING IN UNSAFE OR UNSOUND BANKING PRACTICES

o r V io l a t io n s o f L a w or R e g u l a t io n s , A u g u s t 23, 1935, to D e c e m b e r 31, 1940

Number of banks against which 

action was started in— 1

iotai

1936 1937 1938 1939 1940

97 22 25 12 19 19

D isposition as o f D ecem ber 31, 1940:

15 10 3 1 1

Insured status terminated for failure to make corrections3 • • .................. 3 1 2

34 9 14 6 4 1

Banks absorbed succeeded, or reorganized6 ........................................................................... 38 2 6 4 14 12

Action deferred pending consummation of recapitalization or merger p la n s .................... 4 1 3

norinrrtvidpfl hv law 'not’, pxnirpd .......................................................... 1 1

'C'liyfVioi- nr-APDOflinO'S ntllPPWISlP Hpfprrpd ................................. 2 2

1 No action to terminate insured status of any bank was started before 1936. In 3 cases where initial action was replaced by action based upon additional charges, only 

the latter action is included. . . .

2 In the case of 2 banks against which action was started in 1939 and of 17 banks m 1940, resolutions relative to unsafe or unsound practices or violations of law or regulations 

were formally adopted by the Board of Directors of the Corporation, but the sending of statements to the appropriate supervisory agencies was indefinitely delayed.

* One of these 3 banks suspended 4 months after itsi nsured status was terminated.

4 The date for official termination of insured status was set in 5 of these cases, but was not effective before the banks suspended.

6 In all except 1 of these 38 cases, the Corporation made loans to facilitate the mergers or reorganizations.

246 FEDERAL DEPOSIT INSURANCE CORPORATION

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Table 176. UNSAFE OR UNSOUND BANKING PRACTICES AND VIOLATIONS OF LAW OR REGULATIONS UPON WHICH ACTION TO TERMINATE

In su red S ta tu s w as S ta rte d again st 97 In su red B an ks, A u g u st 23, 1935, to D ecem ber 31, 1940

Type of practice or violation

1. Capital:

(a) Continued operation of bank with seriously impaired capital. . . .

(b) Continued operation of bank although insolvent...............................

(c) Continued operation of bank with inadequate capital.....................

(d) Other practices or violations:

Failure to take means suggested by examiners for restoration

of capital..............................................................................................

Reduction of capital without approval of the Corporation........

2. Management and general practices:

(a) Maintenance of lax credit, loaning, and collection policies.............

(b) Continued carrying of losses in bank’s assets, thereby failing to

disclose true statement of condition.................................................

(c) Continued operation of bank by weak, hazardous, untrustworthy,

or incapable management....................................................................

(d) Maintenance of lax investment policies...............................................

(e) Unwarranted and excessive loans to directors, officers, employees,

and their interests..................................................................................

(f) Failure to observe recommendations to remedy objectionable

practices or conditions..........................................................................

(g) Deliberate misrepresentation to examiners regarding true condition of ban k.........................................................................................

Number of banks engaging in practice or violation1

Total

66

6 3

5 3

2 9

2 7

12

5

Action started in -

1 9 3 6 1 9 3 7 1 9 3 8 1 9 3 9 1 9 4 0

1 3 1 8 1 0 1 9 1 9

2 4 2 1

2 5 5

1 1

1

1 9 1 8 1 0 1 2 7

9 1 5 9 1 2 1 8

8 1 5 1 0 1 3 7

6 5 2 9 7

8 7 5 3 4

g 5 1

3 2

SUPERVISORY ACTIONS BY THE CORPORATION 247

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Table 176. UNSAFE OR UNSOUND BANKING PRACTICES AND VIOLATIONS OF LAW OR REGULATIONS UPON WHICH ACTION TO TERMINATE

In su re d S ta tu s w as S ta r te d ag ain st 97 In su red B anks, A u g u st 23, 1935, t o D ecem ber 31, 1940—Continued

Number of banks engaging in practice or violation1

Type of practice or violation Action started inm . |

1936 1937 1938 1939 1940

(h) Other practices or violations:

2 1 1

Failure of cashier to comply with instructions of Board of

1 1

Failure of Board of Directors to make examinations as required

1 1

1 1

Failure of Board of Directors to supervise management properly. 

Failure of Board of Directors to attend regular meetings or to

/»nmn1v TiTi'fVj KqhV q

1 1

8 1 2

Failure to bond employees properly and to collect under surety

7 4 2 1

Continued employment of cashier known to have committed 

gross irregularities 2 1 1

Excessive salaries and improper diversion of funds for personal

2 2

3. Loan an d in vestm en t p ra ctice s:

(a) Excessive volume of past due or nonincome-producing loans........ 45 8 11 7 12 7

(b) Failure to obtain and maintain current and adequate credit data 

and financial statements, and failure to secure appraisal and 

supporting documents on other real estate owned......................... 41 13 17 5 5 1

(c) Unwarranted and excessive extensions of credit in violation of law 35 13 14 5 2 1

(d) Continued carrying of unwarranted and excessive amounts of 

other real estate owned and potential other real estate............... 42 4 2 9 17 10

(e) Excessive volume of loans in Classifications II and III2.................. 34 9 10 11 2 2

(f) Excessive volume of assets in Classifications II and III or generally 

unsatisfactory asset condition2............................................................ 39 3 3 2 13 18

(g) Excessive volume of loans in Classification IV 2.................................. 38 4 13 10 5 6

00

(i)

Excessive volume of assets in Classification IV 2 31 5 2 12 12

Excessive investment in substandard, speculative, and defaulted 

securities ................................................................................... 16 3 3 4 6

248 FEDERAL DEPOSIT INSURANCE CORPORATION

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(j) Unwarranted and excessive volume of nonincome-producing assets.

(k) Progressive deterioration of assets........................................................

(1) Habitual granting or unwarranted payment of overdrafts...............

(m) Continued frozen or extended position of loan portfolio...................

(n) Carrying of other real estate owned in excess of maximum time 

permitted by law....................................................................................

(o) Unwarranted and excessive concentrations of credit........................

(p) Other practices or violations:

Severe losses sustained and previously written off........................

Investment and retention of assets in contravention of existing

laws or regulations............................................................................

Unwarranted and excessive liability in connection with a certain 

property...............................................................................................

4. M iscellaneou s:

(a) Failure to maintain adequate bank records, continuance of inaccurate accounting procedures, and negligence in operating 

methods....................................................................................................

(b) Poor or rapidly declining earnings........................................................

(c) Payment of interest on time deposits in violation of regulations. ..

(d) Unwarranted or illegal payment or declaration of dividends or

interest on capital..................................................................................

(e) Unsatisfactory administration of trust department or unauthorized

or illegal investment of trust funds...................................................

(f) Other practices or violations:

Continued borrowings, and large amount of assets pledged as

collateral security to borrowings....................................................

Failure to maintain legal reserves.....................................................

Low liquidity ratio................................................................................

Unwarranted amount of public funds on deposit in proportion

to net quick assets.............................................................................

N ot carrying on type of banking prescribed in its charter or

permitted by State law.....................................................................

Failure to maintain adequate reserves.............................................

Acceptance and carrying of public funds without complying

with State law ....................................................................................

Negligent payment of certificates of deposit or of checks drawn

against fictitious balances................................................................

Failure to depreciate fixed assets properly......................................

Unwarranted and improper disbursement of bank’s funds..........

Unwarranted increase in salaries of officers and employees........

Unauthorized allocation of funds and credits to the payment 

of personal obligations of officers..................................................

1 2 7 5

1 5 12

5 6 2

7 4 1

3 3 1 1

3 1 2

2

1

1

9 5

2 4 7

3 7 3

2 2 3 1

2 2 2

2 1

2

3 1

2

1

1

1

1 1

1

1

2

1

1 Most of the banks engaged in several practices or violations. For the number of banks against which action was started each year, see Table 175.

2 For method of classifying assets, see Explanatory Note to Part V , pages 86-87.

SUPERVISORY ACTIONS BY THE CORPORATION 249

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INDEX

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I N D E X

Absorptions, consolidations, and mergers (see also Mergers of insured banks 

with financial aid of the Corporation; Terminations of insurance) :

Of insured banks, 1934-40.........................................................................94, 104-09

Of insured banks since 1936............................................................................ 38

Of noninsured institutions by or with insured banks............................19, 24, 243

Of operating banks, 1940................................................................................. 94

Actions of Federal Deposit Insurance Corporation. See Federal Deposit 

Insurance Corporation.

Adjusted capital account:

Amounts and ratios, insured commercial banks. See Capital of banks. 

Definition........................................................................................................... 87

Adjusted value of assets.

Amounts and ratios, insured commercial banks. See Assets of insured 

banks, analysis of examinations of.

Definition........................................................................................................... 86

Admissions to insurance:

Applications approved and disapproved................................................. 23, 240-41

By class of bank................................................................................................104-09

By status of bank.............................................................................................104-09

By years, 1934-40............................................................................................. 104-09

Number during 1940..................................... ................................................... 95

Number since 1936........................................................................................... 38

Applications from banks:

For admission to insurance...........................................................19, 22, 23, 240-41

For approval of assumption of deposit liabilities of other banks... .19, 24, 243

For approval of change of location......................................................... 19, 22, 241

For approval of establishment of branches......................................19, 22, 23, 241

For approval of repayment or release of restricted, subordinated, or

waived deposits...............................................................................24, 243

For approval of capital retirement or reduction......................19, 23-24, 242-43

For loans to facilitate mergers........................................................................ 22

Appraised value of assets:

Amounts and ratios, insured commercial banks. See Assets of insured 

banks, analysis of examinations of.

Definition........................................................................................................... 86

Assessments:

On insured banks for deposit insurance:

Amount................................................ ...................................................28, 29, 32

Basis o f......................................................................................................... 83

Rate.............................................................................................................. 67

On stockholders of closed banks. See Banks closed because of financial 

difficulties.

Assets and liabilities of closed banks. See Receivership, insured banks 

placed in.

Assets and liabilities of operating banks (see also Assets of insured banks, 

analysis of examinations of; Capital of banks; Deposits; Fixed 

and miscellaneous assets; Loans of insured commercial banks; 

Securities):

All banks, 1935-40............................................................................................. 140

All commercial banks:

1919-40......................................................................................................... 42-43

1935-40............................................................................................... ......... 141

Page

253

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Assets and liabilities of operating banks (see also Assets of insured banks, 

analysis of examinations of; Capital of banks; Deposits; Fixed 

and miscellaneous assets; Loans of insured commercial banks;

254 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Securities:— Continued.

All insured banks, 1935-40............................................................................... 140

Insured commercial banks:

Call dates, 1934-40.............................................................................142, 144-47

Changes during 1934-40............................................................................. 39

Changes during 1940.................................................................................. 38-40

Insured commercial banks not members of the Federal Reserve System:

Call dates, 1934-40..................................................................................... 150-53

Insured commercial banks submitting reports to the Federal Deposit 

Insurance Corporation:

Averages at call dates, 1936-40...............................................................205, 207

Banks grouped by amount of deposits:

Amount, December 31, 1940............................................................... 154-55

Amounts per $100 of total assets, 1940............................................. 213

Averages at call dates, 1940................................................................. 209

Averages per bank, December 31, 1940............................................. 156-57

Averages per bank at call dates, 1940............................................... 211

Percentage distribution, December 31, 1940..................................... 158-59

Banks grouped by population of center in which located..................... 215

Banks grouped by rate of income on loans............................................. 219

Banks grouped by rate of net earnings.................................................... 217

Reports of..................................................................................................... 24-25

Mutual savings banks, 1935-40.....................................................................141, 143

Noninsured banks, 1935-40................................................................... 141, 142, 143

Sources of data.................................................................................................. 84

Assets and liabilities of the Federal Deposit Insurance Corporation.............. 30-33

Assets of banks, losses on, 1865-1940................................................................... 61-65

Assets of banks purchased by the Federal Deposit Insurance Corporation. 

See Bank assets purchased by the Corporation.

Assets of insured banks, analysis of examinations of (see also Fixed and 

miscellaneous assets; Fixed and substandard assets ratio; 

Loans of insured commercial banks; Securities):

Definitions of terms used................................................................................. 85-88

Insured commercial banks, 1940:

Appraised values of total assets, securities, loans, and fixed and 

miscellaneous assets, amounts and ratios:

Banks grouped by amount of deposits............................169, 171, 173, 175

Banks grouped by Federal Deposit Insurance Corporation

District.......................................................................... 176, 178, 180, 182

Banks grouped by fixed and substandard asset ratios. .168, 170, 172, 174

Banks grouped by net sound capital ratios....................168, 170, 172, 174

Banks grouped by rate of average net earnings............ 169, 171, 173, 175

Banks grouped by State.........................................................176-79, 180-83

Definition............................................................................................... 86

Summary................................................................................................ 44

Banks included, by month of examination............................................. 85

Book values:

Amounts and ratios. See Appraised values, etc.

Definition............................................................................................... 86

Discussion of................................................................................................ 43-45

Examiners’ (net) deductions:

Amounts and ratios. See Appraised values, etc.

Definition............................................................................................... 86

Substandard:

Amounts and ratios. See Appraised values, etc.

Definition............................................................................................... 86

Uncriticized:

Amounts and ratios. See Appraised values, etc.

Definition............................................................................................... 87

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Assets of insured banks, analysis of examinations of (see also Fixed and 

miscellaneous assets; Fixed and substandard assets ratio;

Loans of insured commercial banks; Securities):— Continued. 

Insured commercial banks examined by the Federal Deposit Insurance 

Corporation:

Ratios of appraised to book value, banks grouped by amount of

deposits:

Of assets, 1940....................................................................................... 189

Of loans, 1934-40................................................................................... 188

Of total assets, 1933-40........................................................................ 187

Sources of data.................................................................................................. 85

Assets of insured banks, quality of (see also Assets of insured banks, analysis 

of examinations of):

Assets charged off...................................................................................44, 47, 52-55

Improvement since 1933............................................................................... 3, 43-44

Relation to deposit insurance.......................................................................... 70

Assets pledged to secure bank obligations....................................................9, 147, 153

Bank assets purchased by the Corporation:

From banks in receivership to facilitate liquidation............................. 18, 32, 234

From banks merged with financial aid of the Corporation. See Mergers

of insured banks with financial aid of the Corporation. 

Bank examinations. See Examination of banks.

Bank management. See Management of banks, quality of.

Bank supervision (see also Examinations of banks):

Competition in................................................................................................... 12-13

Demand for....................................................................................................... 10-11

Deposit insurance and.....................................................................11-13, 64, 66, 70

Objectives of...................................................................................................... 11-13

Prior to Federal deposit insurance.............................................................10, 12, 13

State legislation regarding during 1940......................................................... 26-27

Supervisory activities of the Federal Deposit Insurance Corporation: 

Actions to terminate insured status of banks engaged in unsafe or unsound practices or violations of law or regulations......................

................................................................................19, 20-23, 246, 247-49

Admission of banks to insurance........................................... 19, 22, 23, 240-41

Approval of capital adjustments...............................................242-43, 244-45

Approval of change of location of banking offices...........................19, 22, 241

Approval of establishment of branches...................................... 19, 22, 23, 241

Approval of miscellaneous financial adjustments.....................242-43, 244-45

During 1940 and 1934-40........................................................................... 18-25

Powers of the Corporation.....................................................................12, 18-19

To secure correction of hazardous situations.......................................... 3, 4

Bankers’ directories, data obtained from................................................. 73, 81, 83, 84

Banking offices, establishment of:

Banks beginning operations:

By class, 1940.............................................................................................. 94

Insured banks, 1934-40...............................................................................104-09

Banks opened, or opening contemplated, approved for insurance............. 240-41

Branches, establishment approved by Corporation..................................... 23, 241

Branches opened............................................................................................... 95

Banking offices, number of. See Number of Banking offices in center; 

Number of operating banking offices.

Banking practices. See Bank supervision; Unsafe and unsound banking 

practices.

Banks beginning operations. See Banking offices, establishment of.

Banks ceasing operations:

By class of bank, 1940..................................................................................... 94-95

Insured banks, by class, 1934-40................................................................... 104-09

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Banks closed because of financial difficulties (see also Mergers of insured 

banks with financial aid of the Corporation; Receiverships, 

insured banks placed in):

D epositor and Federal Deposit Insurance Corporation losses in insured

banks, 1934-1940..................................................................13, 14, 62, 63

Depositors' losses in, 1865-1940:

Amount.........................................................................................................62, 63

By 20-year periods...........................................................................62, 63, 68, 69

By years, 1921-40....................................................................................... 66

In crisis and other years...........................................................62, 64, 67, 68, 69

Method of estimation................................................................................. 70-73

On balances not exceeding $5,000................................................. 66, 67, 68, 69

Prior to and subsequent to Federal deposit insurance................62, 63, 68, 69

Rates of loss.................................................................................3, 11, 62, 63, 69

Depositors protected by the Federal Deposit Insurance Corporation:

Number o f.................................................................................................3, 13, 14

Number of accounts in banks merged with financial aid of the Corporation............................................................................................ 232-33

Number of, in insured banks placed in receivership.............................. 238

Proportion fully protected.........................................................................11, 12

Insured banks placed in receivership or merged with financial aid of the 

Corporation:

Deposits protected...................................................................................... 16

Disbursements by the Corporation in connection with..................... 12, 13-17

Loss to depositors.....................................................................................3, 13-15

Loss to Federal Deposit Insurance Corporation......................3, 13-14, 17-18

Loss to stockholders in merged banks..................................................... 15

Number and deposits of, 1934-40:

By amount of deposits......................................................................... 226

By class of bank....................................................................................226-27

By State.................................................................................................226-27

By year................................................................................................... 226

Number and deposits of, 1940:

By amount of deposits......................................................................... 230

By class of bank................................................................................... 230

By State........ ........................................................................................ 230

Number of, and loss to depositors, 1865-1933.............................................. 9

Stockholders’ losses in, 1865-1940:

Amount........................................................................................................ 62, 63

Assessments.............................................................................................66, 68, 69

In crisis and other years.................................................................62, 63, 68, 69

Method of estimation................................................................................. 70-73

Prior to and subsequent to Federal deposit insurance................62, 63, 68, 69

Related to deposits..................................................................................... 63, 69

Suspensions:

Number and deposits, 1934-40:

By amount of deposits......................................................................... 222

By class of bank....................................................................................222-23

By State.................................................................................................222-23

By year................................................................................................... 222

Number and deposits, 1940:

By amount of deposits......................................................................... 228

By class of bank.............................................................................94-95, 228

By State................................................................................................. 228

Number, compared with receiverships and mergers.............................. 90-91

Of banks charged with unsafe and unsound banking practices. .20-21, 246

Terminations of insured status b y ..................................................... 38, 104-09

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, 27

Board of Governors of the Federal Reserve System:

Approval of capital retirement or reduction................................................. 23

Data obtained from.....................................................................................81, 84, 88

Examination by Corporation of banks under jurisdiction o f...................... 22

Regulations regarding payment of interest on deposits, power to issue.. 19 

Review of examination reports submitted by............................................... 22

256 FEDERAL DEPOSIT INSURANCE CORPORATION

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Book values of bank assets and liabilities. See Assets and liabilities of 

operating banks; Assets of insured banks, analysis of examinations of; Capital of banks.

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 dividends of insured banks; Reconstruction 

Finance Corporation investment in capital of banks):

Analysis of examinations of insured commercial banks, 1940:

Book value:

Amounts and ratios. See Net sound capital, etc.

Definition............................................................................................... 87

Discussion o f............................................................................................... 45-47

Examiners’ net deductions:

Amounts and ratios. See Net sound capital, etc.

Definition............................................................................................... 86

Net sound capital, amounts and ratios:

Banks grouped by amount of deposits............................................ 161, 163

Banks grouped by Federal Deposit Insurance Corporation

Districts......................................................................................... 164, 166

Banks grouped by fixed and substandard asset ratios.................. 160, 162

Banks grouped by net sound capital ratios.................................... 160, 162

Banks grouped by rate of average net earnings............................. 161, 163

Banks grouped by State........................................................ 164-65, 166-67

Definition............................................................................................... 87

Private capital:

Amounts and ratios. See Net sound capital, etc.

Definition............................................................................................... 87

Supplied by Reconstruction Finance Corporation:

Amounts and ratios. See Net sound capital, etc.

Definition................................................................................................ 87

Analysis of examinations of insured commercial banks examined by the 

Federal Deposit Insurance Corporation, 1933-40:

Net sound capital ratios to assets, banks grouped by amount of

deposits............................................................................................. 186

Net sound capital ratios to deposits, banks grouped by amount of

deposits............................................................................................. 186

Net sound capital ratios to total capital accounts, banks grouped by

amount of deposits......................................................................... 186

Capital ratios in 1940 and prior thereto........................................................ 70

Net sound capital ratios to assets, insured commercial banks grouped 

by, 1940:

Analysis of examinations of capital and liabilities, amounts and

ratios....................................................... .......................................160, 162

Appraised values of total assets, securities, loans, and fixed and

miscellaneous assets—amounts and ratios................168, 170, 172, 174

Deposits o f................................................................................................... 185

Number o f................................................................................................... 184

Percentage distribution of number and deposits, compared with 1939 46

Of insured banks placed in receivership......................................................... 237

Reductions and retirements approved by the Corporation.23-24, 242-43, 244-45 

Total capital accounts of insured commercial banks:

Amount, banks examined in 1940.............................................. 160-61, 164-65

Amount, call dates, 1935-40....................................................................142, 147

Changes during 1934-40............................................................................. 39

Definition..................................................................................................... 87

Total capital accounts of insured commercial banks not members of the

Federal Reserve System, amount, call dates, 1934-40............... 153

Total capital accounts of insured commercial banks submitting reports 

to the Federal Deposit Insurance Corporation. See Assets and 

liabilities of operating banks.

Unsafe and unsound practices..................................................... 20-22, 246, 247-49

Cash depositories......................................................................... 81, 199, 200, 201, 203

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Cash held by banks (see also Assets and liabilities of operating banks; Assets

of insured banks, analysis of examinations o f)..................39-40, 42-43

Charge-offs on bank assets (see also Earnings, expenses, and dividends of 

insured commercial banks):

Insured commercial banks............................................................................... 52-55

Net, in operating banks, 1865-1940:

Amount.........................................................................................................62, 66

By 20-year periods...................................................................................... 62, 63

In crisis and other years.............................................................................62, 63

Method of estimation................................................................................. 70-73

Prior and subsequent to Federal deposit insurance................................62, 63

Rates of........................................................................................................ 63

Class of bank, banking data presented by:

Admissions to and terminations of insurance............................................... 104-09

Assets and liabilities.........................................................................................140-43

Banks which suspended operations........................................................222-23, 228

Deposits.................................................................................128-29, 130-31, 132-33

Earnings of insured banks...............................................................................194-95

Insured banks placed in receivership or merged with financial aid from

the Corporation..........................................224-25, 226-27, 229, 230-31

Number of banking offices........................................92-93, 94-95, 96-103, 110-11

Number of banks................................................................. 104-09, 112-13, 114-15

Classification of banks and banking offices..................................................... 81-82, 84

Closed banks. See Banks ceasing operations; Banks closed because of 

financial difficulties; Receivership, insured banks placed in.

Commercial banks. See Assets and liabilities of operating banks; Assets of 

insured banks, examiners’ analysis of; Capital of banks; Deposits; Earnings, expenses, and dividends of insured banks; 

Number of operating banks.

Commercial banking offices. See Number of operating banking offices.

Comptroller of the Currency:

Approval of capital retirement or reduction................................................. 23

Data obtained from..................................................................71, 73, 81, 84, 85, 88

Director of Corporation................................................................................... 27

Examination by Corporation of banks under jurisdiction o f...................... 22

Examination of insured banks by................................................................... 22

Insured banks not members of the Federal Reserve System reporting to .. 24

Review of reports of examinations made by................................................. 18-19

Consolidations. See Absorptions, consolidations, and mergers.

Consumer loans. See Instalment consumer loans.

Crisis periods, losses during. See Banks closed because of financial difficulties; Losses on bank assets, 1865-1940.

Defense program, effect on insured banks............................................... 39, 40, 43, 47

Demand deposits. See Assets and liabilities of operating banks.

Department of Commerce, request for consumer loan data............................. 24

Depositors’ claims against closed insured banks. See Receivership, insured 

banks placed in.

Depositors protected by the Corporation in banks in financial difficulties.

See Banks closed because of financial difficulties.

Depositors’ losses. See Banks closed because of financial difficulties; Receivership, insured banks placed in.

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Deposits:

Adjusted............................. ...........................................................87,160-61,164-65

Amount of, banks or banking offices grouped by:

All banking offices............................................................................110, 116, 128

All banks................................................................................................... 112, 130

All commercial banks..........................................................c . . .120-23, 134-37

All mutual savings banks............................................................126-27, 138-39

Banks operating branches....................................................................... 113, 131

Banks which received financial aid from the Federal Deposit Insurance Corporation..............................................16, 224, 226, 229, 230

Banks which suspended operations........................................................222, 228

Branches............................................................................................ I ll, 117, 129

Head offices of banks operating branches.....................................I ll, 117, 129

Insured commercial banks examined by the Federal Deposit Insurance Corporation, 1933-1940................................. 186, 187, 188, 189

Insured commercial banks examined in 1940

................................................47, 161, 163, 169, 171, 173, 175, 184, 185

Insured commercial banks operating throughout 1940.. 196,197,199, 201, 202 

Insured commercial banks submitting reports to the Federal Deposit

Insurance Corporation.........................154-59, 208-09, 210-11, 212-13

Unit banks....................................................................... 110, 112, 116, 128, 130

Assumption of by other banks.......................................................................24, 243

Claims barred.................................................................................................... 14-15

Classified by type of deposit. See Assets and liabilities of operating 

banks.

Definition:

For assessment purposes............................................................................ 83

For reports of assets and liabilities.......................................................... 85

In reports of examinations......................................................... ...............83, 87

Demand. See Assets and liabilities of operating banks.

Insured and otherwise protected:

In banks placed in receivership or merged with financial aid of the

Corporation..................................................................................... 15-17

In banks placed in receivership................................................. 16-17, 238, 239

Interbank. See Assets and liabilities of operating banks.

Interest on. See Deposits, time and savings.

Of individuals, partnerships, and corporations:

Amount. See Assets and liabilities of operating banks.

Change during 1940................................................................................... 39

Paid and unpaid in closed insured banks...................................................17, 239

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 Deposits, insured or otherwise 

protected.

Public funds. See Assets and liabilities of operating banks.

Secured and preferred:

Insured banks placed in receivership.....................................................17, 238

Insured commercial banks......................................................................... 147

Insured commercial banks not members Federal Reserve System....... 153

Sources of data................................................................................................. 83-84

Subject to offset. See Receivership, insured banks placed in.

Time and savings:

Amount. See Assets and liabilities of operating banks.

Interest paid on:

Amount of. See Earnings, expenses, and dividends of insured banks.

Definition and computation of rate o f............................................... 89

Rates o f.......................................................................................49-51, 56-57

Rates of, banks grouped by..............................................................202, 203

Regulation of Corporation regarding.................................................19, 51

Ratio to total deposits, banks grouped b y ........................................... 200, 203

Uninsured:

Assumption of, by insured banks.............................................................24, 243

Of insured banks placed in receivership................................................. 17, 238

United States government. See Assets and liabilities of operating banks. 

Unsecured. See Receivership, insured banks placed in.

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Deposits in:

All banking offices, June 29, 1940................................................................... 128

All banks, call dates, 1935-40.......................................................................... 140

All banks, June 29, 1940................................................................... 130-31, 132-33

All commercial banks, call dates, 1935-40..................................................... 141

All commercial banks:

June 29, 1940...............................................................................................134-37

Change during 1919-40............................................................................... 42-43

All insured banks, call dates, 1935-40........................................................... 83, 140

All insured banks, June 29, 1940................................................................. 130, 132

All mutual savings banks, call dates, 1935-40.............................................. 141

All mutual savings banks, June 29, 1940..................................... 130, 132, 138-39

All offices of banks operating branches, June 29, 1940................................ 129

Banks closed because of financial difficulties, 1921-40................................. 66

Banks grouped by amount of deposits, June 29, 1940................................ 130-31

Banks having inadequate capital................................................................... 46-47

Banks located in each State and possession..................................................134-37

Banks merged with financial aid of the Corporation... .15, 83, 224-25, 229, 232

Banks operating branches, June 29, 1940................................................... 129, 131

Banks receiving financial aid from the Corporation:

1934-40............................................................................. 3, 13,14,226-27

1940.................................................................................................. 14,230

Branches, June 29, 1940................................................................................... 129

Commercial banks in each State, grouped by amount of deposits............134-37

Head offices of banks operating branches, June 29, 1940............................ 129

Insured banks merged with financial aid of the Corporation

............................................................................. 15, 83, 224-25, 229, 232

Insured banks placed in receivership..................................... 15, 17, 237, 238, 239

Insured banks placed in receivership or merged with financial

aid of the Corporation............................................... 13-14, 226-27, 230

Insured commercial banks:

At time of examination, 1940. See Deposits, adjusted.

Call dates, 1934-40...................................................................................142, 146

Change during 1940.................................................................................... 39-40

June 29, 1940.............................................................................. 130, 132, 134-37

Insured commercial banks not members of the Federal Reserve System:

Call dates, 1934-40..................................................................................... 152

June 29, 1940.............................................................................................130, 132

Insured commercial banks submitting reports to the Federal Deposit 

Insurance Corporation:

Average per bank at call dates, 1940....................................................... 211

Average per $100 of total assets at call dates, 1940............213, 215, 217, 219

Averages at call dates, 1936-40...............................................................205, 207

December 31, 1940, banks grouped by amount of deposits:

Amount, by type of deposit................................................................. 155

Average per bank.................................................................................. 157

Ratio to total liabilities and capital accounts................................... 159

Insured mutual savings banks:

Call dates, 1935-40......................................... ........................................... 143

December 31, 1940..................................................................................... 56

June 29, 1940.............................................................................. 130, 132, 138-39

Noninsured banks:

Call dates, 1935-40....................................................................83, 141, 142, 143

June 29, 1940....................................................130-31, 132-33, 134-37, 138-39

Suspended banks................................................................................ 83, 222-23, 228

Unit banks, June 29, 1940.............................................................................128, 130

Disposition of profits. See Earnings, expenses, and dividends of insured banks.

Dividends:

To depositors in mutual savings banks................................................... 56-57, 221

To stockholders of operating insured banks:

Amount of. See Earnings, dividends, and expenses of insured banks.

Rates of........................................................................................................ 55

Relation to bank failures........................................................................... 61

Relative to net earnings and net profits.................................................. 56

Double liability. See Stockholders of banks.

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Earnings, expenses, and dividends of insured banks:

Insured commercial banks, 1934-40:

Amounts.......................................................................................... 48, 49, 190-91

Discussion o f................................................................................................ 47-56

Interest received and paid......................................................................... 48-50

Net charge-offs............................................................................................ 52-55

Rates of dividends................................. .................................................... 55

Rates of income received and interest paid............................................. 50-51

Rates of net earnings and net profits....................................................... 51-52

Ratios...........................................................................................................192-93

Trends of earnings and expenses............................................................... 47-48

Insured commercial banks, 1940:

Amounts, by class of bank.........................................................................194-95

Discussions of.............................................................................................. 47-56

Number of banks operating throughout the year grouped by:

Rate of income on loans.................................................................... 199, 200

Rate of interest paid on time and savings deposits....................... 202, 203

Rate of net earnings. See Earnings of insured commercial banks, 

net.

Rate of net profits.............................................................................. 197, 198

Ratios of loans to total assets...................................................200, 201, 203

Ratio of time and savings to total deposits....................................200, 203

Insured commercial banks submitting reports to the Federal Deposit 

Insurance Corporation:

Amounts, 1934-40.......................................................................................204-05

Amounts, 1940, banks grouped by amount of deposits......................... 208-09

Averages per bank, 1940, banks grouped by amount of deposits........ 210-11

Differences in reporting, 1934-35.............................................................. 90

Ratios, 1934-40........................................................................................... 206-07

Ratios, 1940:

Banks grouped by amount of deposits...............................................212-13

Banks grouped by population of center.............................................214-15

Banks grouped by rate of income on loans........................................218-19

Banks grouped by rate of net earnings..............................................216-17

Insured mutual savings banks:

Amounts, 1934-40.......................................................................................220-21

Discussion o f............................................................................................... 56-57

Sources of data.................................................................................................. 88

Earnings of insured commercial banks, net:

Amounts of. See Earnings, expenses, and dividends of insured banks.

Discussion o f..................................................................................................... 51-52

Rate in 1940, banks grouped by:

Number o f............................................................... 196, 198, 199, 201, 202, 203

Ratios, banks submitting reports to the Corporation............................216-17

3-year average rate, banks grouped by:

Assets of.................................................................................... 169, 171, 173, 175

Capital o f...................................................................................................161, 163

Definition..................................................................................................... 87

Deposits o f................................................................................................... 185

Liabilities of................................................................................................. 161

Number o f.................................................................................................... 184

Employees, Federal Deposit Insurance Corporation.......................................... 5, 27

Employees of banks, number of:

Insured commercial banks:

By years, 1936-40.....................................................................................191, 193

December 31, 1940, by class of bank....................................................... 195

Insured commercial banks submitting reports to the Corporation:

By years, 1934-40.....................................................................................205, 207

December 31, 1940, of banks grouped by amount of deposits........... 209, 211

Examiners:

Analysis of bank examinations made by. See Assets of insured banks, 

analysis of examinations of; Capital of banks.

Employed by the Corporation. See Employees, Federal Deposit Insurance Corporation.

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Examinations of banks (see also Assets of insured banks, analysis of examinations of; Capital of banks):

Banks cited for unsafe and unsound practices.............................................. 19-22

Banks examined by the Federal Deposit Insurance Corporation.............. 84

Data from reports of examination, banks examined by the

Corporation...................................................................186, 187, 188, 189

Definition of terms........................................................................................... 85-88

Development of uniform examination procedure.......................................... 85

Examination by Federal Deposit Insurance Corporation of banks under

jurisdiction of other Federal agencies........................................... 22

In connection with loans and purchase of assets of insured banks............ 22

Number by Federal Deposit Insurance Corporation, 1940......................... 22

Review of examinations made by Comptroller of Currency and Federal

Reserve banks.................................................................................. 22

Tabulation of, 1940........................................................................................... 85

Expenses of banks. See Earnings, expenses, and dividends of insured banks.

Expenses of the Federal Deposit Insurance Corporation. See Federal Deposit 

Insurance Corporation.

Failures:

Of banks. See Banks closed because of financial difficulties.

Of State deposit guaranty funds..................................................................... 10

Federal bank supervisory authorities (see also Board of Governors of the 

Federal Reserve System; Comptroller of the Currency; Federal 

Deposit Insurance Corporation; Federal Reserve banks): 

...................................................................................22, 23, 24, 70, 71, 73

Federal Deposit Insurance Corporation:

Actions by:

On applications from banks. See Applications from banks.

To terminate insured status of banks................................................19-22, 246

Assessments on insured banks............................................................. 11, 28, 29, 32

Assets and liabilities......................................................................................... 30-33

Audit.................................................................................................................. 31-33

Balance sheet................................................................................................ 30, 32-33

Banks reporting to (see also Assets and liabilities of operating banks;

Earnings, expenses, and dividends of insured banks)................ 84

Bank supervision by. See Bank supervision.

Board of Directors............................................................................................ 5, 27

Borrowing power............................................................................................... 33

Capital.......................................................................................................3, 11, 30, 32

Chief creditor of insured banks.......................................................................12, 18

Claims held against suspended and merged banks....................................... 29

Collections from insured banks in financial difficulties................................ 17

Contracts used in bank mergers and consolidations.................................... 16

Created............................................................................................................... 3,11

Depositors protected from loss by. See Banks closed because of financial 

difficulties.

Disbursements for protection of depositors.........................................12,13-17, 30

Districts............................................................................................................. 88

Divisions............................................................................................................. 5, 27

Employees.......................................................................................................... 5, 27

Examination of banks (see also Examinations of banks).......................18-19, 22

Expenses..............................................................................................3, 17, 28-29, 33

Income.......................................................................................................3, 28-29, 32

Insurance limit................................................................................................... 11

Insured banks receiving financial aid from. See Banks closed because of 

financial difficulties.

Investments....................................................................................................... 30-33

Liquidation of assets of insured banks in financial difficulties... .15, 16, 17, 234 

Loans to and purchase of assets from insured banks. See Mergers of 

insured banks with financial aid of the Corporation.

Losses incurred. See Losses of the Federal Deposit Insurance Corporation.

Officers................................................................................................................ 5, 27

Operations.......................................................................................................... 13-33

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Federal Deposit Insurance Corporation:— Continued.

Organization and staff...................................................................................... 5, 27

Payments to insured depositors..................................................................... 17, 239

Policies.............................................................................................................4, 11-13

Powers.................................................................................................................19, 20

Protection of depositors. See Banks closed because of financial difficulties. 

Purchase of assets to facilitate completion of liquidation of banks in

receivership......................................................................................18, 234

Purposes of deposit insurance.......................................................... 4, 11, 13, 66-67

Receiver for insured banks............................................................................. 18, 235

Recoveries from banks in financial difficulties.............................................. 17-18

Regulations, power to issue............................................................................. 19

Repayments to.................................................................................................. 17-18

Reports from banks.......................................................................................... 24-25

Reserves for losses............................................................................................. 29-33

Risks of loss....................................................................................................... 20

State legislation affecting operations, 1940................................................... 25-26

Supervisory activities. See Bank supervision.

Surplus............................................................................................................... 28-33

Federal Deposit Insurance Corporation Districts:

Banks classified b y ....................................................... 164, 166, 176, 178, 180, 182

States and possessions served......................................................................... 88

Federal insurance of deposits, role of................................................................... 11

Federal Reserve banks:

Data obtained from.......................................................................................... 85

Review of bank examinations made by......................................................... 22

Federal Reserve Committee on Branch, Group and Chain Banking, data

obtained from.................................................................................. 72

Fixed and miscellaneous assets, analysis of examinations of:

Insured commercial banks, 1940..........................170-71, 174-75, 178-79, 182-83

Insured commercial banks examined by the Federal Deposit Insurance

Corporation, 1940........................................................................... 189

Fixed and substandard assets ratio of insured commercial banks (see also

Assets of insured banks, analysis of examinations of; Capital of 

banks):

Banks classified by.................................45, 160, 162, 168, 170, 172, 174, 184, 185

Definition........................................... ............................................................... 87

Discussion.......................................................................................................... 44-45

Guaranty of bank obligations, prior to Federal deposit insurance..............9-11, 13

Hazardous banks. See Insolvent or hazardous banks; Weak or hazardous 

banks.

Head offices of branch systems. See Number of banks operating branches.

Insolvent or hazardous insured banks:

Method of protecting depositors in ................................................................ 16

Number eliminated, 1940............................................................................... 19, 23

Operating at close of 1940............................................................................... 20

Placed in receivership or merged with financial aid of the Corporation.

See Banks closed because of financial difficulties.

Supervisory action regarding...........................................................................3, 246

Instalment consumer loans.................................................................................. 40-42

Institutions excluded from figures of operating banks...................................... 82

Insurance status, banks classified by:

Assets and liabilities of.....................................................................................140-43

Deposits o f................................................128-29, 130-31, 132-33, 134-37, 138-39

Number o f..................................96-103, 110-11, 112-13, 114-15, 120-23, 126-27

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Insured and otherwise protected deposits. See Deposits.

Insured banks. See:

Absorptions, consolidations, and mergers;

Admissions to insurance;

Assets and liabilities of operating banks;

Assets of insured banks, analysis of examinations of;

Assets of insured banks, quality of;

Banking offices, establishment of;

Banks ceasing operations;

Banks closed because of financial difficulties;

Capital of banks;

Charge-offs on bank assets;

Classification of banks and banking offices;

Class of bank, banking data presented by;

Deposits;

Deposits in;

Earnings, expenses, and dividends of insured banks;

Earnings of insured commercial banks, net;

Employees of banks, number of;

Examinations of banks;

Insolvent or hazardous insured banks;

Loans of insured commercial banks;

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;

Number of unit banks;

Receivership, insured banks placed in;

States, banking data by;

Securities;

Terminations of insurance;

Unsafe and unsound banking practices;

Weak or hazardous banks.

Insured commercial banks not members of the Federal Reserve System. See

Class of bank, banking data presented by; Insured banks.

Insured commercial banks submitting reports to the Federal Deposit Insurance Corporation. See Insured banks.

Insured deposits. See Deposits.

Insured mutual savings banks. See Mutual savings banks.

Insured State banks members of the Federal Reserve System. See Class of 

bank, banking data presented by; Insured banks.

Interbank deposits. See Assets and liabilities of operating banks.

Interest (see also Earnings, expenses, and dividends of insured banks):

264 FEDERAL DEPOSIT INSURANCE CORPORATION

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On loans. See Loans of insured commercial banks.

On securities held by insured banks, rate of, 1934-40.................................. 50-51

On time and savings deposits. See Deposits, time and savings.

Investments of banks. See Assets and liabilities of operating banks; Securities;

Unsafe and unsound banking practices.

Investments of the Federal Deposit Insurance Corporation........................28, 30, 32

Law, violations of by insured banks........................................................19-22, 246-49

Legislation, Federal, concerning robbery of a bank........................................... 25, 77

Legislation, State, enactments in 1940................................................................. 25-27

Liquidation, banks placed in.................................................................... 38, 94, 104-09

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Loans of insured commercial banks (see also Assets and liabilities of operating 

banks; Assets of insured banks, analysis of examinations of; 

Earnings, expenses, and dividends of insured banks; Instalment 

consumer loans; Unsafe and unsound banking practices):

Analysis of examinations of banks examined by Federal Deposit Insurance

Corporation................................................................................... 188, 189

Analysis of examinations of insured commercial banks:

Appraised and book values, deductions (net), substandard, and not

criticized.......................................................................44, 170-71, 178-79

Ratios of appraised value to book value.............................44, 174-75, 182-83

Banks classified by ratio to total assets..............................................200, 201, 203

Changes during 1934-40................................................................................... 39-40

Rate of income on:

Banks classified by..................................................................... 199, 200, 218-19

Definition..................................................................................................... 89

During 1934-40........................................................................................... 50-51

Types o f............................................................................................................. 40

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........................ 241

Losses on bank assets, 1865-1940 (see also Banks closed because of financial 

difficulties; Charge-offs on bank assets):

Amount.......................................................................................................... 61-63, 66

In crisis and other periods.................................................................... 62, 63, 64-65

Method of estimation....................................................................................... 70-73

Prior and subsequent to Federal deposit insurance......................................62, 63

Rates of.............................................................................................................. 63

Relation to depositors’ and stockholders’ losses........................................... 61

Losses of banks:

Accumulation of, in the banking system....................................................... 18, 61

Amounts and rates. See Charge-offs on bank assets; Earnings, expenses, 

and dividends of insured banks.

Prevention by supervisory activity of the Corporation.............................. 18

Losses of the Federal Deposit Insurance Corporation:

Concentration in certain banks.......................................................................12, 13

During 1940....................................................................................................... 14

During seven years of deposit insurance................................. 3, 13, 14, 17, 62, 63

Management of banks, quality of:

Banks cited for unsafe and unsound banking practices..................19-22, 247-48

In weak banks................. ................................................................................. 4

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 (see also Banks 

closed because of financial difficulties):

Applications from banks.................................................................................. 22

Assets purchased............................................................................................... 3

Banks cited for unsafe and unsound practices............................................. 19-22

Classification of banks...................................................................................... 90-91

Collections by Corporation on assets purchased or held as collateral....... 17

Deposits protected............................................................................................ 16

Disbursements by Corporation..........................................15, 224-25, 229, 232-33

Loans and assets purchased, held by the Corporation................................ 29-30

Losses incurred by Corporation......................................................................13,17

Method............................................................................................................... 15

Names and location of banks merged............................................................232-33

Number of banks merged......................................................... 15, 224-25, 229, 232

Procedure........................................................................................................... 16

Protection afforded depositors, 1934-40......................................................... 16

Repayments to Corporation............................................................................ 17-18

Morris Plan banks, classification o f..................................................................... 81

INDEX 265

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Mutual savings banks:

Insured:

Admissions to and terminations of insurance, 1934-40..........................108-09

Assets and liabilities, December 31, 1935-40....................................56-57, 143

Capital investment of the Reconstruction Finance Corporation in___ 56

Changes during 1934-40.............................................................................108-09

Changes during 1940.............................................................................. 56, 94-95

Classification............................................................................................... 82

Deposits:

By amount of deposits, June 29, 1940.................. 128-29, 130-31, 138-39

By State, June 29, 1940.........................................................132-33, 138-39

By type of bank, June 29, 1940........................................... 128-29, 130-31

December 31, 1935-40.......................................................................... 143

December 31, 1940................................................................................ 56

Earnings, expenses, and disposition of profits............................56-57, 220-21

Number:

By amount of deposits, June 29, 1940................................ 112-13, 126-27

By State, December 31, 1940..............................................................96-103

By State, June 29, 1940.........................................................114-15, 126-27

By type of bank, December 31, 1940..........................................93, 96-103

By type of bank, June 29, 1940..........................................................112-13

Call dates, 1935-40............................................................................... 143

December 31, 1935-40.......................................................................... 93

Placed in receivership or merged with financial aid of the Corporation. 91

Insured and noninsured:

Assets and liabilities, December 31, 1935-40........................................141, 143

Changes during 1940.................................................................................. 94-95

Classification............................................................................................... 82

Deposits:

By amount of deposits, June 29, 1940.................. 128-29, 130-31, 138-39

By State, June 29, 1940........................................................ 132-33, 138-39

By type of bank, June 29, 1940....................................................... 130-31

Call dates.............................................................................................141, 143

Number:

By amount of deposits, June 29, 1940............................... 112-13, 126-27

By State, December 31, 1940..............................................................96-103

By State, June 29, 1940.........................................................114-15, 126-27

By type of bank, December 31, 1940..........................................93, 96-103

December 31, 1935-40........................................................................... 93

Sources of data............................................................................................ 81

National banks. See Class of bank, banking data presented by; Comptroller 

of the Currency; Insured banks.

Net earnings of insured commercial banks. See Earnings of insured commercial banks, net.

Net profits of insured commercial banks. See Earnings, expenses, and 

dividends of insured commercial banks.

Net sound capital ratios of insured commercial banks. See Capital of banks.

New banks. See Banking offices, establishment of.

Noninsured banks. See:

Absorptions, consolidations, and mergers;

Admissions to insurance;

Assets and liabilities of operating banks;

Banks closed because of financial difficulties;

Capital of banks;

Classification of banks and banking offices;

Class of bank, banking data presented by;

Deposits;

Number of banks operating branches;

Number of operating banking offices;

Number of operating banks;

Number of unit banks;

Number of branches.

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267

Number of banking offices in center:

Banking offices classified by..................................................... 38, 118-19, 196, 197

Definition........................................................................................................... 83

Number of banks operating branches:

Change during 1940......................................................................................... 37

December 31, 1935-40...................................................................................... 93

December 31, 1940:

By class of bank............................................................................. 92-93, 96-103

By States and possessions......................................................................... 96-103

Of commercial banks.....................................................................37, 93, 96-103

Of insured banks.................................................................................. 93, 96-103

Of mutual savings banks.....................................................................93, 96-103

Of noninsured banks.............................................................................93, 96-103

June 29, 1940:

By amount of deposits............................................................................... 113

By character of branch system................................................................. 124-25

By class of bank.......................................................................................I ll, 113

By head offices only.........................................................................I ll, 117, 119

By number of offices in center.................................................................. 119

By population of center...................................................................117, 119, 124

By States and possessions......................................................................... 124-25

Of commercial banks.......................................................I ll, 113, 117, 119, 124

Of insured banks.......................................................................................I l l , 113

Of mutual savings banks.........................................................................I ll, 113

Of noninsured banks.................................................................................I l l , 113

Number of branches:

Change during 1940......................................................................................... 37, 95

December 31, 1935-40...................................................................................... 93

December 31, 1940:

By class of bank................................................................................... 93, 96-103

By States and possessions..........................................................................96-103

Of commercial banks.................................................................................. 96-103

Of insured banks.........................................................................................96-103

Of mutual savings banks........................................................................... 96-103

Of noninsured banks...................................................................................96-103

Discussion o f..................................................................................................... 37

Establishment approved by Corporation..................................................... 23, 241

June 29, 1940:

By amount of deposits.............................................................................I l l , 117

By class of bank.......................................................................................... I l l

By location in relation to head office....................................................... 124-25

By number of offices in center.................................................................. 119

By population of center...................................................................117, 119, 124

By States and possessions......................................................................... 124-25

Number of operating banking offices:

All offices........................................................................................ 37, 92, 94, 96, 110

Changes during 1940......................................................................................... 37, 94

Classification..................................................................................................... 81-82

December 31, 1935-40...................................................................................... 92-93

December 31, 1940:

By class of bank................................................................ 92-93, 94-95, 96-103

By States and possessions..........................................................................96-103

By type of office.......................................................................37, 92-93, 96-103

Of commercial banks................................................... 37, 92-93, 94-95, 96-103

Of insured banks.................................................................92-93, 94-95, 96-103

Of mutual savings banks.........................................................93, 94-95, 96-103

Of noninsured banks.......................................................... 92-93, 94-95, 96-103

June 29, 1940:

By amount of deposits...............................................................................110-11

By class of bank......................................................................................... 110-11

By number of offices in center...................................................................118-19

By population of center............................................................... 116-17, 118-19

By type of office............................................................. 110-11, 116-17, 118-19

Of commercial banks..................................................... 110-11, 116-17, 118-19

Ofjnsured banks........................................................................................ 110-11

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Number of operating banking offices:— Continued.

June 29, 1940:— Continued.

Of mutual savings banks............................................................................110-11

Of noninsured banks................................................................................... 110-11

Percentage belonging to branch systems................................................. 38

Number of operating banks:

All banks:

Admissions to insurance.............................................................................104-09

Approved for admission to insurance....................................................... 240-41

Call dates, 1935-40..................................................................................... 140

Changes during 1940................................................................................... 94-95

Classification............................................................................................... 81-82

December 31, 1935-40................................................................................. 92-93

December 31, 1940:

By class of bank........................................................................... 92-93, 96-103

By States and possessions....................................................................96-103

By type of bank....................................................................... 92-93, 96-103

June 29, 1940:

By amount of deposits........................................................... 110-11, 112-13

By class of bank....................................................... 110-11, 112-13, 114-15

By States and possessions....................................................................114-15

By type of bank....................................................................................112-13

Terminations of insurance.........................................................................104-09

All commercial banks:

Admissions to insurance.............................................................................104-09

Call dates, 1935-40..................................................................................... 141

Changes during 1940................................................................................... 94-95

Classification............................................................................................... 81-82

December 31, 1935-40................................................................................ 92-93

December 31, 1940:

By class of bank....................................................................... 92-93, 96-103

By States and possessions....................................................................96-103

By type of bank....................................................................... 92-93, 96-103

Discussion o f................................................................................................ 37

June 29, 1940:

By amount of deposits.............................. 110-11, 112-13, 116-17, 120-23

By class of bank....................................................... 110-11, 112-13, 114-15

By number of offices in center............................................................ 118-19

By population of center......................................................... 116-17, 118-19

By States and possessions..................................................... 114-15, 120-23

By type of bank.................................................................................... 112-13

Percentage belonging to branch systems................................................. 38

Insured commercial banks:

Applications approved and disapproved....................................240-41, 242-43

Call dates, 1934-40...................................................................................142, 144

Changes during 1934-40.............................................................................104-09

Changes during 1940................................................................................... 94-95

Classification................................................................................................ 81-82

December 31, 1935-40................................................................................ 92-93

December 31, 1940:

By class of bank............................................................... 92-93, 96-103, 194

By States and possessions....................................................................96-103

By type of bank........................................................................ 92-93, 96-103

Discussion o f................ ............................................................................... 37-38

June 29, 1940:

By amount of deposits.............................................110-11, 112-13, 120-23

By class of bank....................................................... 110-11, 112-13, 114-15

By States and possessions..................................................... 114-15, 120-23

By type of bank.................................................................................... 112-13

Operating throughout the year 1940:

By amount of deposits..............................................196, 197, 199, 201, 202

By number of offices in center..........................................................196,197

By population of center............................................196, 197, 199, 201, 202

By rate of income on loans............................................................... 199, 200

By rate of interest paid on time and savings deposits..................202, 203

By rate of net earnings.....................................196, 198, 199, 201, 202, 203

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Number of operating banks—Continued.

Insured commercial banks:— Continued.

Operating throughout the year 1940:— Continued.

By rate of net profits......................................................................... 197, 198

By ratio of loans to total assets............................................... 200, 201, 203

By ratio of time and savings to total deposits............................... 200, 203

Reports of examinations in 1940 tabulated:

By amount of deposits.....................161, 163, 169, 171, 173, 175, 184, 185

By Federal Deposit Insurance Corporation District............164, 166, 176,

178, 180, 182

By fixed and substandard asset ratio.............................160, 162, 168, 170,

172, 174, 184, 185

By month of examination.............................. ..................................... 85

By net sound capital ratio.............. 160, 162, 168, 170, 172, 174, 184, 185

By rate of average net earnings___161, 163, 169, 171, 173, 175, 184, 185

By State.......................................................164-65, 166-67, 176-79, 180-83

Insured commercial banks examined by the Federal Deposit Insurance

Corporation, 1940, by amount of deposits.................................. 189

Insured commercial banks not members of the Federal Reserve System:

Applications approved and disapproved................................... 240-41, 242-43

Call dates, 1934-40..................................................................................... 150

Changes during 1934-40.............................................................................107-08

Changes during 1940................................................................................... 94-95

Classification............................................................................................... 84

December 31, 1935-40................................................................................. 92-93

December 31, 1940:

By States and possessions....................................................................96-103

By type of bank.................................................................................... 96-103

June 29, 1940:

By amount of deposits........................................................... 110-11, 112-13

By States and possessions....................................................................114-15

By type of bank....................................................................................112-13

Insured commercial banks submitting reports to the Corporation:

Classification................................................................................................ 84

December 31, 1934-40..............................................................................204, 206

December 31, 1940, by amount of deposits..................................154, 156, 158

Operating throughout the year 1940:

By amount of deposits...............................................................208, 210, 212

By population of center....................................................................... 214

By rate of income on loans.................................................................. 218

By rate of net earnings......................................................................... 216

Mutual savings banks. See Mutual savings banks.

Noninsured banks:

Call dates, 1935-40...........................................................................141, 142, 143

Changes during 1940................................................................................... 94-95

Classification................................................................................................ 81-82

December 31, 1935-40................................................................................. 92-93

December 31, 1940:

By class of bank....................................................................................96-103

By States and possessions....................................................................96-103

By type of bank.................................................................................... 96-103

June 29, 1940:

By amount of deposits.............................. 110-11, 112-13, 120-23, 126-27

By class of bank..................................................................... 112-13, 114-15

By States and possessions..................................................... 120-23, 126-27

By type of bank....................................................................................112-13

Number of unit banks:

Change during 1940......................................................................................... 37

December 31, 1935-40...................................................................................... 92-93

December 31, 1940:

By class of bank.............................................................................92-93, 96-103

By States and possessions......................................................................... 96-103

Of commercial banks........................................................................... 92, 96-103

Of insured banks.............................................................................92-93, 96-103

Of mutual savings banks.....................................................................93, 96-103

Of noninsured banks...................................................................... 92-93, 96-103

INDEX 269

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Number of unit banks:— Continued.

Definition........................................................................................................... 82

Discussion o f..................................................................................................... 37

June 29, 1940:

By amount of deposits.............................. .....................................110, 112, 116

By class of bank.......................................................................................110, 112

By number of offices in center.................................................................. 118

By population of center...........................................................................116, 118

Of commercial banks...............................................................110, 112, 116, 118

Of insured banks.......................................................................................110, 112

Of mutual savings banks.........................................................................110, 112

Of noninsured banks................................................................................ 110,112

Officers, active, of insured banks. See Employees of insured banks, number 

of.

Officers and employees of the Federal Deposit Insurance Corporation.......... 27

Operating banks. See Number of operating banks.

Payments to depositors in closed insured banks. See Receivership, insured 

banks placed in.

Population of center, banks or banking offices classified by:

All commercial banks...................................................................38, 116-17, 118-19

Commercial banks operating branches........................................................... 124

Insured commercial banks operating throughout 1940. . .196, 197, 199, 201, 202 

Insured commercial banks submitting reports to the Federal Deposit

Insurance Corporation................................................................... 214-15

Sources of data.................................................................................................. 83

Possessions, banks located in:

Deposits of.......................................................................................................132, 134

Number o f...............................................................................................103, 114, 120

Postal savings deposits. See Assets and liabilities of operating banks.

Preferred deposits. See Deposits, secured and preferred.

Profits. See Earnings, expenses, and dividends of insured banks.

Protection of depositors in banks in financial difficulties, 1934-40. See Banks 

closed because of financial difficulties.

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):

Amount of loans on. See Assets and liabilities of operating banks.

Increase during 1940 in loans on.................................................................... 40

Unsafe and unsound practices.................................................................. 21, 247-49

Receiverships avoided by Corporation............................................................... 12

Receivership, insured banks placed in (see also Banks closed because of 

financial difficulties):

Activities of Corporation as receiver of.........................................................18, 235

Assets and liabilities of, at date of suspensions, 1934-40.......................... 236, 237

Classification...................................................................................................... 90-91

Date of suspension and year of organization................................................ 235

Depositors:

Date of first payment t o ........................................................................... 16, 235

Extent of protection by insurance............................................................15, 16

Method of protection................................................................................. 15

Number eligible for protection, paid and unpaid................................... 239

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Receivership, insured banks placed in (see also Banks closed because of

financial difficulties):— Continued.

Depositors:— Continued.

Payments to.......................................................................................... 15-17, 239

Procedure of payment................................................................................ 16

Protection effective..................................................................................... 15

Deposits:

Insured, paid and unpaid by December 31, 1940..................................17, 239

Insured, secured, preferred, subject to offset......................................... 17, 238

Not eligible for insurance................................................................. 17, 238, 239

Paid and unpaid, December 31, 1940....................................................... 17

Percentage protected.................................................................................. 15-16

Secured, preferred, and subject to offset........................................17, 238, 239

Unclaimed accounts............................................................................... 14-15, 17

Uninsured, unsecured, not preferred, and not subject to offset..........17, 238

Liquidation o f................................................................................................... 17-18

List of banks, 1940........................................................................................... 235

Losses by Corporation on depositors* claims paid....................................... 17-18

Names and location of, during 1940.............................................................. 235

Number of banks...................................................................235, 236, 237, 238, 239

Purchase of assets from...................................................................................18, 234

Receivers............................................................................................................ 235

Repayments to Corporation on subrogated claims against........................ 17-18

Sources of data.................................................................................................. 90-91

Reconstruction Finance Corporation, capital of insured banks held by:

Amount. See Capital of banks.

Retirements.............................................................................23-24, 242-43, 244-45

Recoveries on assets (see also Charge-offs on bank assets)..................... 53-55, 71-72

Regulations. See Federal Deposit Insurance Corporation; Board of 

Governors of the Federal Reserve System.

Repayments to the Corporation........................................................................... 17-18

Reports from banks................................................................................................ 24-25

Salaries and wages of bank officers and employees. See Earnings, expenses, 

and dividends of insured banks.

Savings and time deposits. See Assets and liabilities of operating banks; 

Deposits.

Secured and preferred deposits. See Deposits; Receivership, insured banks 

placed in.

Securities (see also Assets and liabilities of operating banks; United States

Government obligations):

Examiners’ appraisal of, method used........................................................... 86

Held by Federal Deposit Insurance Corporation....................................28, 30, 32

Held by insured commercial banks:

Amounts, call dates, 1934-40............................................. 142, 144-45, 148-49

Change in amounts during 1940............................................................... 40

Change since 1919....................................................................................... 42-43

Analysis of examinations:

Appraised and book values, deductions (net), substandard, and

not criticized............................................................... 44, 168-69, 176-77

Ratios of appraised to book values............................... 44, 172-73, 180-81

Held by insured commercial banks not members of the Federal Reserve 

System:

Analysis of examinations, 1940................................................................. 189

Call dates 1934-40....................................................................................... 150

Rate of income on, decline since 1934........................................................... 49-51

State banks members of the Federal Reserve System. See Class of bank, 

banking data presented by; Insured banks.

State banks not members of the Federal Reserve System. See Class of bank, 

banking data presented by; Insured banks; Noninsured banks.

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State bank supervisory authorities:

Data obtained from...............................................................................72, 81, 83, 84

State legislation regarding functions o f......................................................... 25-26

State deposit guaranty systems..........................................................................9-10, 11

State legislation regarding deposit insurance and bank supervision.............. 25-27

States, banking data by:

Analysis of examinations of insured commercial banks

164-65, 166-67, 176-79, 180-83

Banks classified by:

All banking offices.......................................................................................96-103

All banks...................................................................................................... 114-15

All commercial banks................................................................... 120-23, 124-25

All mutual savings banks...........................................................................126-27

Deposits classified by:

All banks...................................................................................................... 132-33

All commercial banks.................................................................................134-37

All mutual savings banks...........................................................................138-39

Suspensions, receiverships, and mergers.222-23,224-25,226-27,228,229,230-31

Stockholders' losses in closed banks, 1865-1940. See Banks closed because 

of financial difficulties.

Stockholders of banks:

Assessments paid by, in closed banks............................................................ 66-69

Double liability of............................................................................................. 61

Losses of. See Banks closed because of financial difficulties.

Substandard assets. See:

Assets of insured banks, analysis of examinations of;

Fixed and miscellaneous assets;

Fixed and substandard asset ratios;

Loans of insured commercial banks;

Management of banks, quality of;

Securities.

Supervision. See Bank supervision.

Suspensions. See Banks closed because of financial difficulties; Receivership, 

insured banks placed in.

Subrogated claims of depositors................................................................. 17, 18, 30, 32

Terminations of insurance:

Analysis of, 1934-40..........................................................................................104-09

For unsafe and unsound banking practices and violations of law or

regulations................................................................................. 19-20, 246

Number, 1940...................................................................................................23, 246

Number since 1936........................................................................................... 38

Time and savings deposits. See Deposits, time and savings.

Trust funds, insurance of....................................................................................... 83

Trust departments:

Assets o f............................................................................................................. 84-85

Examinations of................................................................................................ 22

Uninsured deposits. See Deposits, uninsured.

Unit banks. See Deposits; Number of unit banks.

United States Government obligations (see also Assets and liabilities of

operating banks):

Change during 1940 in amount held by banks............................................. 39-40

Held by all commercial banks, 1919-40......................................................... 42-43

Held by Federal Deposit Insurance Corporation..........................................30, 32

Held by insured commercial banks, 1934-40................................................. 39

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Unsafe and unsound banking practices:

Action of Corporation................................................................................19-22, 246

Banks examined, 1934-40................................................................................ 22

Development of rules to prevent.................................................................... 11

Number of banks cited.............................................................................. 20-21, 246

Types of, for which banks were cited................................................21-22, 247-49

Unsecured deposits. See Receivership, insured banks placed in.

Violations of law or regulations....................................................... 19-22, 246, 247-49

Weak or hazardous banks (see also Unsafe and unsound banking practices):

Continuing operation....................................................................................... 20

Eliminated during 1940................................................................................... 19

Policy of Corporation regarding..................................................................... 12, 19

Protection of depositors in......................................................................... 3

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis